Multiple significant cryptocurrency updates have dominated headlines this past week, offering traders and investors an opportunity to stay informed about upcoming advancements in their related digital economies.
This week in cryptocurrency is shaping up to be packed with excitement, from the anticipated Jupiter airdrop announcements to the launch of the Dusk mainnet.
THORChain Integrates Base L2
In October, Nine Realms, a part of the THORChain network, unveiled its roadmap, hinting at their intention to initiate support for Base L2 in order to facilitate cross-chain trades.
In a recent Medium post, it was mentioned that the “next significant link in the chain could be Base, associated with THORChain.” The development team, known as the Nine Realms, are actively working towards deploying this connection to the main network.
The integration will take place during the second week of January, as Jade, renowned for her insights into the THORChain network, hinted in her 2025 forecast – it’s just about to happen.
THORChain leverages the Inter-Blockchain Communication Protocol (IBC) to incorporate extra assets onto the Application Layer. By linking with multiple chains, THORChain enhances its liquidity and improves the experience for Liquidity Providers (LPs), making it more beneficial for them.
USUAL Fee Switch Activation
On Tuesday, January 7, 2025, the fee adjustment system for the stablecoin protocol USUAL will become active. This was announced by USUAL, a real-world asset (RWA) stablecoin protocol, on their Twitter account on the 1st of January.
The era of fee changes has started. In 2025, DeFi will experience a significant shift: authentic value and equitable distribution. Prepare your USUAL for January 7th. It’s a new year, setting a new standard. Let’s make 2025 the year that USUAL shines brightly,” the network announced.
In the world of decentralized finance, fee switches are becoming increasingly popular, enhancing the passive holding of tokens into a more profitable endeavor. These mechanisms facilitate the distribution of collected fees among significant contributors, including liquidity suppliers, stakers, and token owners.
Activating the fee change on January 7 could herald a new epoch for the ecosystem, emphasizing genuine worth and fair distribution. This transition might establish a fresh standard for achievement in the Decentralized Finance (DeFi) industry.
Concurrently, this activation might shape the competition among Decentralized Exchanges (DEXs). This could result in top DEXs strengthening their standing by keeping a larger portion of their transaction fees. Yet, it’s crucial to consider how much these fees can increase before liquidity and trading volume start decreasing.
ZKSync Incentive Program
The incentive plan for ZKsync begins on January 6th, offering as much as 300 million ZK tokens to users within the DeFi sector.
In a recent forum post, it was announced that the official debut of Ignite will take place on Monday, January 6th, 2025, exactly at 1 PM Greenwich Mean Time (UTC), as stated by ZKNation.
During the initial stage, the system aims to motivate compatible pools and assets from various collaborating platforms. It accomplishes this by employing a unified framework to spot potential high-yield projects. The network will then evaluate the efficiency of these pools based on factors such as consistent APRs among similar pools, TVL (Total Value Locked) growth for every dollar invested in incentives, fee generation, and the proportion of aggregator swap paths.
Beyond the main asset pools, ZKNation plans to distribute ZK tokens as an incentive for transferring funds to the ZKsync Era. More specifically, it will utilize its Jumper Exchange allocation to motivate users to bridge their funds towards the ZKsync Era and deposit them into reward-boosting pools.
At the same time, the LayerSwap distribution aims to attract users who have funds stored in ZKsync Lite, encouraging them to transfer these funds over to ZKsync Era.
In general, many individuals tend to invest in secure pairings or deposit funds into lending platforms,” an airdrop participant on X platform humorously noted, “but they’re actually missing out on maximizing their capital.
Jupiter Airdrop Checker Release
The original Jupiter’s airdrop remains one of the most successful on Solana so far, earning it a spot among the top crypto news this week. Consequently, the release of the airdrop checker is highly anticipated, making it noteworthy in the world of cryptocurrency this week. With another airdrop from Jupiter expected soon, it’s worth keeping an eye on, as they plan to launch the checker for it this week. This announcement comes before 700 million dollars’ worth of JUP is set to be distributed.
According to Jussy.Sol, a researcher in the field of Decentralized Finance (DeFi) and airdrops, it has been announced that Jupiter will distribute approximately 700 million tokens through an Airdrop. He also mentioned that the initial tiers for this distribution are anticipated to undergo significant changes.
Information about the 2025 airdrop, such as when it will occur, what time, and who is eligible, is still largely unknown. To enhance their potential share in JUP, participants should actively engage in buying, selling, and trading on Jupiter platforms, as airdrop incentives are often related to user activity.
Following the significant success of the first distribution, it appears that the upcoming Jupiter airdrop could rank among the biggest in cryptocurrency history. Yet, the potential influence on the JUP token’s price is still a topic open to debate.
Jussy.Sol stated that a token’s price won’t be significantly affected because there is a significant distinction between a pointless airdrop and one connected to a robust DAO with a 30% token burn. The team hasn’t established selling incentives, but you can stake the tokens and earn over 20% through voting within four months. Therefore, the token price should remain relatively stable. Interestingly, when Kamino released Season 2, the token price actually increased.
Second Hearing of Do Kwon’s Case
The upcoming hearing for Terra founder Do Kwon, scheduled for January 8, is the latest news in the world of top cryptocurrency this week. This update follows shortly after Kwon denied US fraud allegations concerning TerraUSD and Luna’s $40 billion crash in 2022.
On Wednesday, the defense and prosecution will debate over motions and evidence in preparation for the trial, as previously reported by BeInCrypto. If the crypto executive opts for a plea bargain akin to his deal with the SEC (Securities and Exchange Commission), the likelihood of imprisonment is still substantial.
As a researcher observing the evolving crypto landscape, I’ve noticed a growing pro-crypto stance within the U.S. government. However, this doesn’t diminish the eagerness of prosecutors to mete out justice against high-profile fraudsters such as Sam Bankman-Fried. Given this context, a notable case like Do Kwon’s is anticipated to garner significant attention.
Dusk Mainnet Launch
At the start of January 7th, the main network of the privacy-focused blockchain, Dusk, will officially go live during their Token Generation Event (TGE). Alongside this mainnet launch, Dusk will also create its initial unchangeable block, marking a significant step towards building a financial system based on blockchain technology.
As of now, we have commenced the Mainnet Deployment Stage, initiating with the integration of DUSK and concluding on January 7th when the initial unalterable blocks will be generated, as stated by the Dusk Foundation in a recent post from December.
It’s worth mentioning that the Dusk Mainnet facilitates a wide range of organizations, regardless of size, to leverage blockchain technology for regulated assets. Additionally, it allows for the establishment of stock exchanges on the blockchain that can issue assets directly. Furthermore, other RWA projects can utilize DUSK for their respective protocols and applications, confident in its compliance. Moreover, developers can construct privacy-focused protocols using this platform.
At dusk, they have drawn interest due to their $5 million grant scheme and the proposal for a “Quick Certification” consensus method. This method simplifies the process of issuing regulated assets directly on the blockchain.
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2025-01-06 14:08