Tag: Token

EigenLayer’s Exclusive $15 Billion Token Launch: Who’s In And Who’s Out?

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The crypto world is currently abuzz with the launch of EigenLayer’s new token, EIGEN, which has quickly become one of the year’s most anticipated digital asset events. According to Bloomberg, the project has attracted significant attention for its approach to decentralized finance (DeFi) and its “controversial” decision to exclude users from certain jurisdictions, including the US, China, and Canada, from participating in the token distribution. EigenLayer Challenges And Opportunities in Token Distribution EigenLayer, a DeFi protocol based in Seattle, has made waves in the industry by introducing a concept known…

Influencer-Investors Get Special Treatment in Token Deals

KOL arrangements are “a win for protocols, a win for KOLs, but a heavy loss for retail,” said Muur, the influencer who said she doesn’t take these deals. “These deals are not properly disclosed in most cases, so the community doesn’t know about KOL rounds and its vesting terms,” she lamented, expressing a sentiment echoed by other insiders. Source

Ethena (ENA) Price Jumps as Bybit Endorses USDe Token as Collateral for Crypto Derivatives Trading

The protocol’s USDe token, often referred to as “synthetic dollar” instead of a stablecoin, is a structured finance product wrapped in a token. It offers steady yields to investors by using ETH liquid staking derivatives such as Lido’s stETH as backing assets, pairing them with an equal value of short ETH perpetual futures position on derivatives exchanges to keep anchored at $1 price. This strategy is also known as a “cash and carry” trade, which harvests derivatives funding rates for a yield. Source

Network Fires Back at Token Supply FUD

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Sui, the year-old Layer-1 blockchain darling, is facing a harsh reality check. While celebrating its first anniversary on May 3rd, 2034, the network finds itself embroiled in a controversy surrounding its tokenomics, the design and distribution of its cryptocurrency, SUI. SUI Supply: Cause for Concern? The fire was ignited by Justin Bons, founder of Cyber Capital, who tweeted concerns about the SUI token supply being overly concentrated in the hands of the founders and early contributors. Bons pointed to a potential 80% allocation – 160 million out of a total…

900 Million Telegram Users Send TON Token Soaring 15%

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Telegram, the messaging giant, has reached a staggering 900 million users. This surge directly impacts Telegram Open Network (TON), the blockchain designed to work seamlessly within Telegram. TON has seen a remarkable 15% growth in the last week, highlighting its potential to become a mainstream crypto player. TON price action. Source: Coingecko TON: Cheap Transactions Draw In Users The key to TON’s recent success lies in its tight integration with Telegram. Users can ditch the hassle of separate crypto wallets and make transactions directly through Telegram’s native wallet. This…

Sui Surpasses Solana in Daily Transactions Amidst Spam Token Frenzy

Sui, a scalability-focused blockchain, has surpassed Solana, a top 10 cryptocurrency network, in activity levels, registering 41 million transactions on April 3. The activity overheating on Sui is caused by ‘spam’, a Sui native token designed to stress test the network’s capabilities, assigning tokens to users equivalent to the number of transactions issued. Sui Surpasses […] Source CryptoX Portal