Top Crypto News This Week: Sonic Mainnet to Launch, Avalanche Etna Goes Live, Jupiter’s Jupuary Starts Voting

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As a seasoned researcher with over a decade of experience in the crypto space, I can confidently say that this week’s crypto calendar is nothing short of thrilling! The upcoming events, particularly the Sonic Labs mainnet launch and the Avalanche Etna update, have me buzzing with anticipation.

This coming week promises significant developments in the cryptocurrency world. Sonic Labs will unveil their L1 mainnet, the Avalanche network has implemented the Etna update, and Jupiter’s community is currently casting votes in the Jupuary election, with even more events on the horizon.

Furthermore, Starknet is about to initiate the staking process for STRK tokens, while the Stacks Foundation plans to disclose a schedule for the launch of its sBTC asset, which is backed by Bitcoin.

Sonic Mainnet Is Launching in December

In the past few weeks, Sonic Labs, previously known as Fantom, has consistently stated that it plans to debut its Layer-1 mainnet by December. This Ethereum Virtual Machine (EVM) platform, now called Sonic, promises developers enticing rewards and robust infrastructure.

Although the specific launch date hasn’t been verified by the company as of yet, a recent social media post has given us a sneak peek into some details.

Ready to demonstrate your abilities without delay due to prolonged waiting for empty promises in launches? Join us at Sonic! Our mainnet is set to debut this December. Earn up to 90% of your app’s transaction fees. Achieve real-time finality in less than a second. Secure connection to Ethereum network available. Opportunities for funding via Innovator Fund. A massive $200 million airdrop awaits you, as announced by Sonic Labs on platform X (previously known as Twitter).

In recent times, the breadcrumb updates and Sonic Lab’s airdrop have sparked significant excitement. Simultaneously, Sonic’s FTM token has shown remarkable growth, jumping by more than 30% within the last week as the mainnet launch nears. The potential post-launch success of the network may shape broader trends in the valuation of FTM tokens.

Avalanche Etna Goes Live

Today, the Avalanche blockchain network rolled out the Etna update on its test network. Once this testing phase is complete, Etna will be deployed to the main network, marking the last step before the company unveils its most significant upgrade yet – the Avalanche 9000. This major overhaul promises to significantly enhance the underlying technology. As per recent statements by Avalanche Labs cofounder Kevin Sekniqi, this update is crucial for the network’s future development.

Sekniqi expressed his immense anticipation for the mainnet deployment that can hardly be exaggerated. This concept has been a long-term endeavor of his. It’s a massive leap forward, and he believes it will usher in an era of excellence for L1s, making ‘scaling’ obsolete and replacing the question ‘how do we scale?’ with ‘what innovative projects can I work on to reach 1 billion users?’

The Etna upgrade empowers L1 creators with greater control over their networks. Developers can now define custom staking mechanisms, select alternative gas tokens, and implement unique governance models tailored to their specific use cases.

Jupiter’s Jupuary Begins Voting

Today marks the commencement of the initial voting process for the Jupitary airdrop on the Decentralized Exchange operating under the Solana network.

Fundamentally, Jupiter put forward a proposal to its community about carrying out multiple large-scale airdrops. The airdrops can only happen if they receive an affirmative vote from 70% of the community, with the main aim being to boost participation among members.

The ongoing vote is to gauge if the community approves of two additional rounds of 700 million $JUP tokens, each. Crafting a decentralized community can be challenging, but let’s work together to make $JUP the leading governance token and J.U.P the top-notch community out there.

This isn’t the platform’s first airdrop in January, but it is the biggest one yet. The developers have stated that this airdrop aims to “speed up, decentralize, and unite” their wider community ecosystem. If the initial vote is successful, it will trigger a series of airdrops, with subsequent votes only taking place until they are no longer approved.

Starknet Begins Staking

Starting this week, Starknet – a decentralized ZK-Rollup platform – will enable token staking using its STRK token. Earlier today, they deployed the necessary infrastructure on their main network to initiate this process. This marks the start of a four-phase transition for the platform, where it will gradually evolve into a Proof-of-Stake network via preliminary test experiments.

The validator setup is now functional, encouraging validators to start integrating their systems. As for delegators, user interfaces and dApps for delegation will be accessible starting tomorrow with the main launch. Beginning tomorrow, it’ll be effortless for everyone to become a STRK Delegator. This announcement was made through social media by the firm.

Stacks to Reveal sBTC Launch Timeline

Furthermore, the Bitcoin L2 Stacks project plans to disclose a schedule for the release of its sBTC, a Bitcoin-linked asset. Although they’ve already published a whitepaper and roadmap, they mentioned that a more specific timeline will be shared in the near future. This new asset aims to create fresh possibilities for Bitcoin within decentralized finance (DeFi) outside of traditional uses.

Ultimately, attention is building around Bitcoin as it inches closer to the much-anticipated $100,000 mark. Even with minor market adjustments on Monday, Bitcoin has persistently been breaking previous record highs. It’s exciting to consider when Bitcoin will surpass the six-figure milestone, potentially happening before Thanksgiving and Christmas.

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2024-11-26 01:41