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AAVE price surges to 2-year high

  • AAVE price reached highs of $173 on Monday, its highest level since April 2022.
  • TVL has also recovered as the decentralised finance protocol witnessed bullish sentiment.

DeFi protocol Aave (AAVE) has seen the price of its native token surge to highs last seen in April 2022.

The surge to above $173 represents Aave’s highest price level since the coin traded at around $176 on April 28, 2022.

For AAVE, it was a sharp downturn after bulls reached the all-time high above $670 in May 2021, before a massive accumulation phase for nearly two and half years.

AAVE/USD weekly chart. Source: TradingView

Aave now looks poised above the horizontal line that has constrained buyers for this long.

Part of this recovery comes as the broader crypto market eyes an upward run, led by Bitcoin’s flip above $60k and the rally that includes retesting of bear resolve above $64,800. According to CoinGecko data, AAVE/USD has jumped more than 172% in the past year, including an uptick of over 23% in the past week.

These gains have come as AAVE’s total value locked recovered since the decline to $5.7 billion in January 2023. In a year where the decentralised finance market has benefited from an overall recovery amid greater lending and borrowing, DeFiLlama shows Aave’s TVL has touched $22.1 billion.

Most of the value is on Aave V3, which has seen a lot of key integrations across the market. Total TVL for the network stood around $20.5 billion.

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Mysterious group of developers hard fork Samourai Wallet

  • A new project, Ashigaru, has forked from Samourai Wallet to enhance user privacy.
  • Ashigaru developers, former Samourai users, emphasize open-source security solutions.
  • The original founders of Samourai Wallet face serious legal issues for money laundering.

On September 20, an enigmatic group of developers announced the hard fork of the popular Samourai Wallet, launching a new project called the “Ashigaru Open Source Project.”

The developers’ move aims to bolster user privacy and security in cryptocurrency transactions, utilizing CoinJoin and other mechanisms to shield users from analytical heuristics and tracking.

Samourai Wallet hard forked into Ashigaru

According to the new project’s website, Ashigaru is committed to developing, releasing, and maintaining free and open-source software that prioritizes security and privacy.

The developers of Ashigaru emphasize their goal of providing solutions with a low technical barrier to entry, ensuring that users can engage in peaceful, voluntary, and private commerce on the internet without facing tracking, surveillance, or censorship.

The developers, who identify as former users of Samourai Wallet, have clarified that they have no connections to the original Samourai Wallet development team. This separation has fueled curiosity about the motivations and identities of the new developers.

The team has indicated that they extensively use code from the public domain and other cryptocurrency projects, further enhancing their commitment to open-source principles.

Original Samourai Wallet founders are facing legal problems

The backdrop of this development is marked by significant legal troubles for Samourai Wallet’s founders, Keonne Rodriguez and William Hill.

In April 2024, both were arrested on money laundering charges in a case initiated by the United States Department of Justice. Keonne Rodriguez, however, entered a plea of not guilty and was released on a $1 million bounty.

Authorities allege that the duo facilitated over $2 billion in unlawful transactions and more than $100 million in money laundering activities. Following the arrests, the FBI seized Samourai Wallet’s website and servers, leading to its removal from app stores.

As the Ashigaru Open Source Project begins its journey, it seeks to reclaim the ethos of privacy-focused digital transactions that Samourai Wallet once represented.

With an emphasis on user empowerment and censorship resistance, Ashigaru could potentially redefine how individuals navigate the complex world of cryptocurrency. As the project unfolds, the crypto community will be closely watching its developments and impacts.

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Hamster Kombat reveals only 43% of its players will receive the tokens in airdrop

  • The Hamster Kombat airdrop has been touted as one of the largest in crypto history
  • The airdrop will distribute 60 billion HMSTR tokens
  • The Hamster Kombat team rejected VC offers, ensuring token value is driven by community demand

The Hamster Kombat team has announced that only 43% of its players qualify for the highly anticipated season one airdrop, generating significant buzz in the Web3 community.

With a user base exceeding 300 million, only 131 million players have met the eligibility criteria for the airdrop scheduled for September 26.

This announcement follows the ban of 2.3 million users for cheating after the game introduced an anti-cheating strategy, underscoring the game’s commitment to maintaining a fair environment.

The Hamster Kombat airdrop

The Hamster Kombat airdrop will distribute a staggering 60 billion tokens from a total supply of 100 billion Hamster Kombat (HMSTR) tokens.

In a bid to foster community engagement, the team has allocated 75 billion tokens to community members, with 60% of the total supply set for distribution after season one with the remaining 15% scheduled for distribution in the upcoming season two.

Eligible players can expect to receive 88.75% of their allocated tokens immediately, while the remaining 11.25% will be vested and released 10 months post-listing on exchanges. This means that approximately 53.25 billion tokens will be distributed instantly, with an additional 6.75 billion to follow 10 months later.

The airdrop is being hailed as the largest in crypto history, emphasizing its significance in the rapidly evolving landscape of digital currencies.

Hamster Kombat’s meteoric growth

Hamster Kombat has experienced meteoric growth, recording 239 million users within its first 81 days of launch on Telegram.

The game’s success has drawn attention from industry leaders, including Telegram’s founder Pavel Durov, who believes it could significantly contribute to Web3 adoption by onboarding millions of new users to the crypto space.

However, despite Hamster Kombat’s impressive user numbers, the reality of the airdrop has raised questions about the fairness of token distribution. With only 43% of players qualifying, many are left wondering what this means for the game’s long-term sustainability and community dynamics.

In a proactive move, the Hamster Foundation has rejected offers from venture capital firms, ensuring that no early investments will influence the token’s market value.

The team asserts that HMSTR’s worth will be determined solely by supply, demand, and community interest, aiming to create a more equitable playing field for all participants.

As the countdown to the airdrop begins, players and crypto enthusiasts alike are watching closely, eager to see how this unprecedented distribution will impact the future of Hamster Kombat and the broader Web3 ecosystem.

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