Sonic Launch, DEAI Airdrop, More
Several events are brewing in this week’s top crypto news, including phantom ecosystem, planned releases of the Stacks network, project lists and airdropand the key token unlock event.
Traders and investors may consider adjusting their trading strategies based on the following events to take advantage of the associated gains volatility.
Sonic Layer-1 mainnet launch
Sonic Labs (formerly phantom) recently Announce Its new blockchain produced its first transaction block, marking a key step towards the launch of its mainnet. The team has many times claim Its Layer-1 mainnet will be launched in December.
The EVM platform, also known as Sonic, will provide developers with attractive incentives and robust infrastructure. This expectation and Sonic’s Airdropcontinues to drive interest in the web.
Specifically, their L1 blockchain will be made public shortly after the s-token airdrop snapshot. With the mainnet launch imminent, the Sonic community is excited.
Avalanche9000 upgrade
this avalanche The ecosystem will maintain its Avalanche 9000 Upgraded Monday, December 16th. This upgrade will reduce Avalanche L1 blockchain deployment costs by 99.9% and reduce transaction costs on the existing C chain by 25 times.
The Avalanche9000 testnet also introduces Retro 9000a $40 million retroactive grant program that includes $2 million in referral incentives. This move is designed to support developers building on Avalanche.
“This growth reflects strong confidence in Avalanche’s technology, as evidenced by $250 million in investments from the likes of Galaxy Digital, Dragonfly and ParaFi Capital. With Avalanche9000 scheduled to be fully launched on Monday, December 16, upcoming The mainnet upgrade will enhance scalability, simplify development, and provide developers with better tools to build decentralized applications.” shared In the blog.
Posted by Stacks sBTC
Another top crypto event this week is the launch of sBTC by the Stacks (STX) network on Tuesday, December 17th. sBTC is a 1:1 trust-minimized Bitcoin-backed asset on Stacks. It will unlock Bitcoin liquidity Decentralized Finance protocols on the stack while unlocking new ones Bitcoin Yield Chance.
Additionally, sBTC will help accelerate the development of the Bitcoin ecosystem and catch up with Ethereum DeFi total value locked (TVL), which exceeds $120 billion.
Coming soon Bitcoin deposits can earn income and support DeFi on Stacks. This integration enhances liquidity and opens up new financial opportunities, like what Zest Protocol offers.
“Earn more Passion Points. Thanks to the Stacks rewards program, users can earn 5% just for holding sBTC. With Zest, users can significantly increase their earnings with sBTC.” Zest Protocol explain.
DEAI online, airdrop, cooperation
Zero1 Labs is pioneering the future of decentralized artificial intelligence with its novel platform that leverages fully homomorphic encryption (FHE). This new technology ensures data privacy and Safetyallowing AI applications to process encrypted data without exposing sensitive information. The native token DEAI facilitates transactions within the ecosystem, creating a seamless economic layer for artificial intelligence systems.
DEAI tokens will be listed on a Tier 1 centralized exchange (CEX), most likely OKX Exchange. In addition to the listing, the network plans to conduct its first airdrop for token stakers. In addition to this, there is speculation that three new partnerships will be formed, including with you are the ecosystem Accelerate decentralized artificial intelligence innovation.
“Zero1 is excited to welcome two new partners this month to support early stage AI teams. Two of the biggest names in Web 2 and Web 3 AI” Zero1Labs shared.
Cosmos (ATOM) Announcement
The Cosmos ecosystem is also on this week’s watch list. It plans to make three major announcements between December 17 and 19, one of which is expected to involve the role of its native token ATOM.
“The Cosmos expansion has begun with a unified vision, strengthened leadership, and a renewed focus on growth. Stay tuned next week for 3 Spaces and a deeper exploration of the project” shared.
These updates will follow recent “transformative” developments in the Cosmos network over the past week. In a series of events, Skip officially joined the Interchain Foundation as Interchain Inc. cooperate Effectively combine the vision and execution of the Interchain Stack and Hub to drive the development of Cosmos.
LayerZero’s Fee Switch Proposal
Additionally, LayerZero’s fee conversion proposal will go live on Friday, December 20, providing community members with the opportunity vote About the agreement fee.
“On December 20, 2024 at 00:00 UTC, ZRO holders will vote: “Yes” to activate LayerZero protocol fees. “No” to keep protocol fees inactive vote Ends at 00:00 UTC on December 27, 2024″, LayerZero Foundation explain.
This marks the first fee switching referendum, with the vote expected to determine whether LayerZero will begin charging protocol fees per message. It’s also worth mentioning that this on-chain voting takes place every six months, allowing ZRO holders to decide whether to activate protocol fees.
“The protocol fee is equal to the total DVN and Executor fees charged for verifying and executing each LayerZero message. The protocol fees collected are used to repurchase and destroy ZRO, reducing its circulating supply.” explain In a medium post.
According to the announcement, if a quorum is not reached, the voting requirements for the circulating supply for each subsequent vote will be reduced by 5% (the lower limit is 20%).
The Arbitrum network is bound to experience some fluctuations this week, 92.65 million ARB tokens to be unlocked Monday at 01:00 PM UTC. The tokens are worth approximately $91.15 million, accounting for just over 2% of ARB’s circulating supply, and will be distributed to investors, teams and project advisors.
Traders and investors should prepare for volatility, as token unlocks are often bearish catalysts. BeInCrypto recently reported on KeyRock’s findings The impact of such events on token prices.
Coin library World Bitcoin Exchange delisting
Coinbase announced in November that it would suspend WBTC trading on its platform on December 19. America’s largest exchange Citing a careful review, its flagship Bitcoin wrapper cbBTC is expected to take over.
“Coinbase will suspend WBTC (WBTC) trading on December 19, 2024 at approximately 12:00 PM ET. You will still have access to your WBTC funds, and you will continue to be able to withdraw funds at any time. We have transitioned the WBTC order book to Limit Mode. Limit orders can be placed and canceled, and matches may occur on Coinbase. Detailed.
The delisting comes after BiT Global filed a lawsuit on Friday against Coinbase for suspending the WBTC token. The lawsuit claimed that Coinbase’s move violated antitrust laws, so BiT Global sued for $1 billion in damages.
“cbBTC has accounted for 8.7% of the BTC staking market since its launch 3 months ago. The $1 billion lawsuit following wBTC’s Coinbase delisting tells you everything you need to know. cbBTC will flip wBTC, it’s just a matter of when, not if Problems that occur.”DragonFly XYZ Investor. joke.
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