Kategorie: Crypto Markets

• Starknet to distribute 10% of network fees to developers in ‘Devonomics’ pilot.
• dApps developers to receive 8% and core developers 2% of $1,600 ETH, or $3.5 million.
• Starknet recently announced an upcoming airdrop.

Starknet Foundation and StarkWare, the developer of layer-2 Ethereum platform Starknet, has announced a pilot program that will incentivise developers via a $3.5 million total payout.

According to Starknet’s blog post on Tuesday, the pilot program is dubbed “Devonomics.” With it, early Starknet developers will receive 1,600 ETH accounting for 10% of all network fees.

Beneficiaries are those to have contributed to the platform’s activities and growth since its launch in November 2021 up to November 30, 2023. Developers are to be rewarded for operating and developing the Starknet network, as well as to empower them for governance decisions.

The program also seeks to incentivise developers to maintain and secure the blockchain platform through staking, Starkware noted.

Exciting News!@StarknetFndn + @StarkWareLtd are introducing Devonomics, a cool new program specifically for Starknet devs.
Devonomics gives them 1,600+ ETH ($3.5M+), that’s ≈10% of all Starknet fees from launch until Nov 30th.

Devonomics has 3 goals:
1️⃣ Reward devs for… pic.twitter.com/GvhIhwVjwG

— Starknet 🦇🔊 (@Starknet) December 12, 2023

8% to dApp developers and 2% to core developers

In particular, developers will have a share of over 1,600 ETH. Over 1,200 ETH, or 8% of the fees will be distributed to developers of decentralised applications (dApps).

Meanwhile, 300 ETH, or about 2%, will go to Core Developers, a group that includes devs that write code for provers, sequencers, full nodes, and long-term storage providers among others. While the initial distribution is in ETH, all future rewards will be in the native STRK token.

Starknet Foundation’s launch of Devonomics adds to several other initiatives aimed at empowering key network stakeholders.

Past initiatives include an early adopter grant (EAG) program, a 50 million early community member program (ECMP), developer partnerships (DPs) and grants to individual contributors.

Today’s announcement also comes a few days after Starknet confirmed plans for a potential 1.8 billion STRK airdrop.

The post Starknet allocates 10% of network fees to developers appeared first on CoinJournal.

• Horizen Labs, Offchain Labs and Arbitrum Foundation have submitted an ApeCoin DAO proposal for ApeChain.
• The platform targets the blockchain gaming ecosystem and will be built using Arbitrum’s technology.
• ApeChain will utilise ApeCoin (APE) as the native gas token.

In a recent proposal, Horizen Labs, Offchain Labs and the Arbitrum Foundation outlined plans for an ApeChain platform, part of the broader vision to support growth for the ApeCoin ecosystem.

The price of ApeCoin (APE) was around $1.67 on Tuesday, down 0.2% in the past 24 hours. APE has struggled to mirror broader market gains in recent weeks and is up only 13% in the past 30 days.

ApeChain targeted for gaming ecosystem

 The ApeCoin DAO idea reveals that ApeChain will be developed using the Arbitrum technology with Horizen Labs spearheading the overall ecosystem growth. The ApeChain network will be an Orbit chain built using AnyTrust.

“We believe that leveraging Arbitrum’s market-leading technology will best position ApeChain to succeed as an independent governed chain in the Ethereum ecosystem,” the ApeCoin Improvement Proposal (AIP) reads in part.

The time for ApeChain is now 🚀

In collaboration with @OffchainLabs @Arbitrum, we are pleased to announce the submission of an @ApeCoin DAO Idea to develop ApeChain on Arbitrum using $APE as the native gas token, with ecosystem growth led by Horizen Labs.

Here’s a quick summary… https://t.co/ZNWQSqbgcm

— Horizen Labs (@HorizenLabs) December 7, 2023

Partners for the project will include a Data Availability Committee featuring Horizen Labs, Offchain Labs, Magic Eden, and Layer Zero among others. Yuga Labs, the Web3 startup that created Bored Ape Yacht Club (BAYC) and CryptoPunks, will also be approached to join the DAC.

According to the proposal, key benefits of developing ApeChain on Arbitrum will include the use of APE as the gas token. This could in turn see a native economy around APE grow to encompass staking and governance. Also, it could spark a new revenue stream for ApeCoin DAO, with increased traction in blockchain gaming due to low gas fees.

 “We’ve been excited to see ApeCoin DAO rally around the idea of a dedicated ApeChain, and agree that it would enhance the DAO’s value proposition. Our goal is to combine the strength of the APE brand with Arbitrum’s technology and cement ApeChain as the nexus of on-chain gaming,” Arbitrum said in a post on X.

Horizen Labs expects development of the ApeChain to commence in Q1, 2024, with onboarding of teams and formalization of the ApeChain governance structure. A testnet will also launch in the quarter, while the mainnet launch could be in Q2, 2024 if the proposal is adopted.

Meanwhile, the Arbitrum Foundation will offer grant funding for a Rollup-as-a-Service provider,  ApeChain Security Council and block explorer.

The post Horizen Labs, Offchain Labs propose APE-powered ApeChain on Arbitrum appeared first on CoinJournal.

• HTX experiences outflow post-hack.
• The outflow occurred between November 25 and December 10.
• HTX clients are disquieted after the November security incident.

The HTX exchange, formerly known as Huobi and affiliated with Chinese crypto mogul Justin Sun, has seen a massive $258 million net outflow since resuming operations after falling victim to a significant hack in November.

Data from DefiLlama reveals that this outflow occurred between November 25 and December 10, indicating that the security incident unsettled some clients.

HTX lost $30 million worth of crypto tokens during the breach and temporarily suspended withdrawals and deposits. Despite assurances of investigations and full compensation for hot wallet losses, concerns linger as the community closely monitors the aftermath of the hack.

Justin Sun’s association and hacks raise alarms

Justin Sun, linked to HTX, also has ties to Poloniex and Heco Bridge, both of which suffered hacks in November, resulting in approximately $200 million in crypto theft with $86 million being drained from the Heco Bridge alone. This series of security breaches intensifies suspicions within the cryptocurrency community regarding an exit scam.

The TRX token, a significant asset at HTX launched by Sun, is under scrutiny due to fraud allegations. The Securities and Exchange Commission (SEC) accused Sun and his firms of market manipulation earlier this year, adding another layer of complexity to the situation.

Digital asset investors are on high alert as HTX, with an average daily trading volume of $1.6 billion, navigates the aftermath of the hacks. The composition of HTX’s reserves, dominated by Bitcoin and TRX, raises questions about the security and integrity of these platforms.

Security firm BlockSec reports that while HTX recovered $8 million stolen in September, the hackers still control the $30 million taken in the recent breach despite a 5% bounty offered by the exchange. The cryptocurrency community remains vigilant as developments unfold, emphasizing the need for robust security measures and transparency in the ever-evolving landscape of digital assets.

The post Justin Sun’s HTX crypto exchange sees $258M outflow post-hack appeared first on CoinJournal.

• BBVA in Switzerland will migrate its crypto custody service to Metaco’s Harmonize platform.
• It also plans to expand its crypto trading services beyond Bitcoin and Ethereum.
• Ripple acquired Swiss-based Metaco in May 2023.

BBVA in Switzerland, the Swiss arm of the Spanish banking giant BBVA, announced on Thursday that it had struck a partnership with blockchain platform Metaco.

The collaboration will see BBVA use Metaco’s Harmonize platform to host its crypto custody service. This comes as the bank embarks on a new chapter in its crypto strategy and will help it expand its footprint amid growing demand from institutional clients.

BBVA to expand trading beyond BTC. ETH

Metaco, a Swiss-based digital assets custody platform founded in 2015, launched its Harmonize platform in 2021. Ripple, one of the leading crypto companies in the world and which created XRP, acquired Metaco in May 2023.

Harmonize offers an institutional standard that financial institutions and corporations can leverage as they build their blockchain and crypto services. BBVA has offered Bitcoin and Ethereum trading as well as custody since 2021.

With this partnership, it is migrating custody to Metaco’s Harmonize and will tap into its features to expand its crypto trading service to other cryptocurrencies. It will also use it for its tokenization product.

“Our partnership with Metaco, which will fully integrate our existing infrastructure within Avaloq, allows us to stay ahead of the market, offering the most robust and compliant platform,” Alfonso Gómez, CEO of BBVA in Switzerland, said in a statement.

Adrien Treccani, founder and CEO of Metaco, added:

“Metaco and BBVA Switzerland have had a longstanding history of partnership, and we are proud to bring our partnership to new heights, enabling awarded digital asset commercial offerings that fit the unique requirements of individuals and institutions.”

Metaco has key partnerships with global banks and financial institutions, including HSBC, DZ Bank, Societe Generale and UnionBank.

Recently, Standard Chartered-backed Zodia integrated Metaco. Also this week, the Ripple platform the platform partnered with computing giant IBM on the Hyper Protect Offline Signing Orchestrator (OSO), a technology that makes it easier and safer for top tier banks and financial institutions to safely deploy and handle digital assets in cold storage.

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• LayerZero has officially confirmed its native token launch in the first half of 2024.
• The announcement triggered a surge in metrics for LayerZero ecosystem projects.
• The native tokens of Stargate and Radiant Capital have seen a rapid 10% increase in value.

In a significant crypto development, blockchain interoperability protocol LayerZero has officially confirmed plans to launch its native token in the first half of 2024. The blockchain interoperability protocol, known for its groundbreaking technology, is set to reward users through an airdrop, sparking renewed interest in its ecosystem projects.

LayerZero has always been built with the ability to have a native token within the protocol, as can be seen in the immutable code launched on day 1. We’ve heard the community discussion over the last few months and the lack of clear communication around this. We’ll state now in…

— LayerZero Labs (@LayerZero_Labs) December 7, 2023

Following the announcement, various projects within the LayerZero ecosystem experienced a surge in metrics, indicating a positive market response. Notably, tokens of projects like Stargate Finance and Radiant Capital, both leveraging LayerZero’s technology, witnessed a sudden increase in value. At press time, Radiant Capital  (RDNT) was up 6% to trade at $0.2848 while Stargate Finance was up 3% to trade at $0.5656.

The price uptick for the two tokens showcases the potential impact of airdrops on the growth and value appreciation of associated projects.

ZRO token distribution registration is Live

LayerZero’s token, ZRO, is expected to be distributed through an airdrop, a popular method rewarding users for their early adoption and participation in the protocol’s development.

According to a tweet from LayerZero, the registration for the token’s distribution has been opened and will last until December 15^th. The distribution amount will be based on wallet activity.

Users are anticipated to be rewarded for interacting with LayerZero-based platforms. Common activities such as borrowing, trading, or lending on these platforms may contribute to eligibility for the airdrop. However, the specifics of LayerZero’s airdrop strategy still remain undisclosed adding an element of anticipation to the LayerZero community, as users eagerly await further clarity on the reward mechanism tied to their network engagement.

This recent revelation from LayerZero sets the stage for an exciting first half of 2024, as the crypto community looks forward to the token launch and potential rewards through the anticipated airdrop.

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