Two altcoins are surging after a sudden listing announcement from top US crypto exchange Coinbase. In a new announcement, Coinbase says the exchange is listing managing blockchain-based supply chain project VeChain (VET) and its associated token VeThor (VTHO) for trading. VET spiked from its Monday low of $0.0146 to a high of $0.0165 Tuesday hours […]
The post Coinbase Triggers Rallies for Two Altcoins After Suprise Listing Announcement appeared first on The Daily Hodl.
DYDX holders have voted to make the token the native asset for the new soon-to-be-launched dYdX Chain as the decentralized exchange (DEX) gears up to migrate from Ethereum (ETH) to its own network. According to snapshot data, the proposal, which was launched by crypto market maker Wintermute, concluded virtually 100% in favor of ‘Yes’ to […]
The post DYDX Token Slated To Be Native Asset for New Standalone Blockchain After Unanimous Vote appeared first on The Daily Hodl.
Polygon Labs founder Sandeep Nailwal says Polygon’s (MATIC) upcoming upgrade will transform its native asset into a “third-generation token.” The Polygon community is currently mulling a technical proposal that would upgrade the project’s native MATIC token and rename it to POL. The proposal is part of the network’s transition to Polygon 2.0, which aims to […]
The post MATIC Getting Massive Technical Upgrade With POL, Says Polygon Founder appeared first on The Daily Hodl.
On Friday, Chia Network Inc. announced that it had submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC), requesting an initial public offering (IPO). The blockchain network company, founded by Bittorrent creator Bram Cohen, will initiate the IPO after the U.S. securities regulator approves the filing. Bittorrent Creator’s […]
While the non-fungible token marketplace Blur has captured a significant amount of the market share in terms of NFT sales, the market’s native token, BLUR, lost more than 28% in value last month. At present, BLUR tokens are down more than 88% since the crypto asset’s all-time high recorded on February 14, 2023. Blur’s Native […]
The cryptocurrency exchange Coinbase has announced the deployment of Base, an Ethereum layer two (L2) scaling network, after developers launched the Base testnet on Thursday. The company said it is incubating Base within Coinbase and that the L2 chain will progressively decentralize over time. Coinbase L2 Scaling Platform Aims to Help Scale the Crypto Economy […]
Blur, the non-fungible token (NFT) marketplace, has seen a significant increase in volume since its launch in October. According to statistics from Dune Analytics, Blur has captured about 30% of the market share in terms of sales volume. The NFT marketplace leader, Opensea, commands 48% of the market share. Blur NFT Marketplace Captures 30% of […]
After recording $4.26 billion in total non-fungible token (NFT) sales, the play-to-earn game Axie Infinity’s monthly player count has dropped to levels not seen since November 2020, a period of 26 months. Despite the low player count, the project’s native token, AXS, has climbed 62% higher against the U.S. dollar in the last 30 days. […]
“We’re nearing the end of a chapter and the beginning of the next — one driven by community ownership and governance,” noted Optimism.
The native token prices from multiple projects that employ Ethereum Layer 2 scaling solution Optimism have spiked around 20% amid rumors that the network will soon launch a token and airdrop it to the community.
Optimism is a Layer 2 scaling solution that utilizes Optimistic rollups to process a high amount of transactions off the Ethereum blockchain. The project touts that it can operate smart contracts 5 to 500X cheaper than Ethereum's Layer 1.
According to DeFiLlama, the platform currently accounts for $496.47 million worth of total value locked (TVL) from 30 different projects that use it to scale such as Synthetix (SNX), UniSwap (UNI), Stargate Finance (STG) and Perpetual Protocol to name a few.
The rumors of a possible token distribution to users of the related projects started to swirl on Twitter earlier today after Optimism published a blog post titled “A New Chapter” which recapped the project’s performance since its launch early last year, along with outlining its plans moving forward.
The team highlighted notable milestones over the past 12 months such as $17.4 billion worth of transaction volume, $24.5 million worth of revenue and saving $1.1 billion worth of gas fees.
Optimism's story so far, by the numbers:
— ✨ Optimism.io/amsterdam (@optimismPBC) April 19, 2022
Saved $1.1B in gas fees
On-boarded 300k unique addresses
Secured $900M of value
Facilitated $17.4B in TX volume
Generated $24.5M in revenue
A new chapter is near.
Let’s take a minute to reflect on the path so far.
While Optimism didn’t directly state anything about launching or airdropping a native token, onlookers highlighted the last section of the post which outlines a new stage of development that will be driven by the community:
“The network has grown by leaps and bounds, and it’s only getting better by the day. Our baby has learned to walk, and it’s nearly time to run. We’re nearing the end of a chapter and the beginning of the next––one driven by community ownership and governance.”
Commenting on the wording of the post, self-described “master airdrop hunter” “OlimpioCrypto” suggested to their 7,164 Twitter followers that SNX might be the token to keep an eye on for potential airdrops, as Synthetix was the first protocol to start working with Optimism.
“Team at Optimism started working with Synthetix before any other protocol. $SNX holders, there might be a treat for you. Keeping tokens staked might be the play,” they wrote.
A similar account in “defi_airdrops” also pointed to other popular projects on Optimism such as Hop Protocol, Lyra Finance and the Polynomial Protocol.
Rumours that a L2 is launching a token imminently.
— DeFi Airdrops (@defi_airdrops) April 13, 2022
Is it @optimismPBC ?
When in doubt go bridge into Optimism now and support the best projects
- LP in @HopProtocol
- LP in @lyrafinance
- Stake $SNX
- Trade @kwenta_io
- Deposit in @PolynomialFi https://t.co/UaXpIAr58A
Related: Ethereum Merge a ‘few months after’ June: Dev clears up what’s going on
While not all of the tokens related to Optimism are pumping, over the 24 hours SNX, Lyra Finance (LYRA) and Synapse (SYN) have all seen substantial increases in value.
According to data from Coingecko, SYN is up 26.2% to sit at $3.37, SNX is up 21.5% to $6.18 and LYRA has gained 18.4% to reach $0.24.
Looking back at DeFi Llama, Synthetix — which is the largest platform on Optimism — has seen its TVL gain 13.4% over the past 24 hours to top roughly $203.3 million, suggesting that so investors may be rushing to stake SNX in anticipation of an announcement from Optimism.
Looks like whales heard about the imminent @optimismPBC governance smth being released, and what better way to join the fun than @synthetix_io ecosystem fam! pic.twitter.com/ILLMBZFI1u
— Danijel (@veryHighLander) April 19, 2022
The Animoca Brands subsidiary and blockchain-based virtual world, The Sandbox, has announced the firm has made multiple partnerships in Hong Kong, and has plans to create a “Mega City” in the metaverse. Partners who acquired land in The Sandbox to build Mega City include Hong Kong tycoon Adrian Cheng, professional services firm PWC Hong Kong, […]