This week in review | Bitcoin Core developers engage in heated debate with the Mingwen community; multiple projects such as Namada and Jito release airdrop information.
BlockBeats will compile industry news highlights for the week of 12.04-12.10 in this article, and recommend in-depth articles to help readers better understand the market and industry trends.
Weekly News Recap
Bitcoin returns to $40,000 after 578 days, multiple track tokens rise, and market sentiment is high
At around 6:30 am on December 4th, BTC broke through $40,000, and despite a sideways adjustment this week, it stabilized at $43,000. As the leading concept of blockchain, Bitcoin has also followed the strong trend of technology stocks such as AI and new energy, according to CoinGecko data, Bitcoin's price will rise by 139.9% in 2023, and its market value will reach $797.3 billion. The rise of Bitcoin has triggered rotation in other track sectors, and multiple track leaders have risen, with active communities and fomo sentiment emerging in the market. Related reading: "Bitcoin returns to $40,000 after 578 days, what are the rising logics?" and "Bull market characteristics emerge, old leeks step on air, newbies show off their orders".
Bitcoin Core developers oppose Mingwen, and public opinion war continues to escalate
On December 6th, Bitcoin Core developer Luke Dashjr stated in a post that "Mingwen" is using a vulnerability in the Bitcoin Core client to send junk information to the blockchain. Since 2013, Bitcoin Core has allowed users to set an additional data size limit when forwarding or mining transactions. By blurring its data into program code, Mingwen bypassed this limit. Subsequently, the developer repeatedly attacked various Mingwen as attacks on the Bitcoin block, "scams", etc., and the strong words sparked heated discussions among Mingwen community users.
The emergence of inscriptions has led to two camps in the encryption community. Some users believe that the emergence of inscriptions has ignited the Bitcoin ecosystem and has become a separate field that will not disappear due to developer comments or decisions, even if the so-called "vulnerabilities" are fixed, inscriptions will still exist in other ways. The other camp believes that Luke Dashjr, as an old OG and senior developer in the Bitcoin community, has a strong influence on his decisions and opinions. Once Bitcoin Core, the main Bitcoin node client, decides to fix this "vulnerability", the inscription market will suffer a severe blow, or even disappear directly. Related reading: "Can inscriptions disappear? How much power do Bitcoin Core developers have?" and "The inscription controversy continues, and the community calls for rational discussion and solutions".
Jito, a liquidity staking protocol in the Solana ecosystem, launches governance token with 10% of total supply distributed through retroactive airdrop
On November 28th, Jito, a liquidity staking protocol in the Solana ecosystem, announced the launch of its governance token, JTO. The total supply is 1 billion, with 10% distributed through a retroactive airdrop to the community. The community growth plan will receive 34.3%, ecosystem development will receive 25%, investors will receive 16.2%, and core contributors will receive 24.5% of the tokens. Following the launch, JTO was listed on platforms such as Coinbase, Binance, and Bitget, and the token price surged to around $4. The airdrop by Jito has led to expectations of airdrops from other projects in the Solana ecosystem, resulting in a general increase in Solana ecosystem tokens. Related reading: "Jito airdrops LSD tokens in the Solana ecosystem: token model and distribution information" and "MT Capital: Jito - reshaping the Solana staking market".
Nostr Assets will airdrop to ORDI holders and announce Fair Mint rules
On December 7th, the Bitcoin Lightning Network Nostr Assets Protocol announced the Fair Mint rules. The total amount of NOSTR tokens is 21,000,000, and the Fair Mint event will distribute 18,900,000 tokens. The first phase will start on December 11th, and subsequent phases will be announced separately. In addition, Nostr Assets Protocol stated that it will airdrop to ORDI holders, with a snapshot completed on December 5th at 05:00 (UTC+8). Related reading: "Analysis of Nostr Assets' first Fair Mint rules and investment returns".
Soho announced its first Bitcoin Ordinals art auction
Soho's digital art department announced that it will auction works from the BitcoinShrooms project designed by anonymous artist Shroomtoshi. The auction will take place from December 6th to 13th local time, and there are currently three works available for bidding. The series includes two mushroom individuals and a pixelated avocado seed named BIP39 - the common standard for creating seed phrases. These three works are expected to sell for about $20,000 to $30,000, but the auction house also accepts cryptocurrency bids. Michael Bouhanna, head of Soho's digital art, said in announcing the news that the art auction will mark Soho's first sale of Ordinals art.
Waterdrip Capital Founder: At least 10 Bitcoin Layer 2 Networks Will Be Launched Next Year
Jademont, founder of Waterdrip Capital, spoke at the "Bitcoin Core Developer Meeting: What Impact Will Ordinals Bring?" event and stated that Waterdrip Capital has invested in 7-8 Bitcoin Layer 2 network projects. According to the information they currently have, at least 10 Bitcoin Layer 2 networks will be launched next year.
Starknet Foundation is about to launch its token STRK, planning to distribute over 1.8 billion STRK to promote adoption and growth
Starknet Foundation announced plans to distribute over 1.8 billion STRK tokens in multiple initiatives to promote adoption and development of the Starknet blockchain. The Supply Committee has already allocated 900 million STRK for fair, decentralized, and transparent distribution of STRK across multiple projects and phases. The committee aims to distribute ownership of the network's native token and reward users and community members for past and future contributions. Additionally, it has set aside another 900 million STRK specifically for user rebates. The plan is currently in the planning phase, and a new committee is being established to oversee the distribution of STRK to reward significant transactions conducted by users on the network. Starknet Foundation has allocated an initial 50 million STRK for on-chain incentives for DeFi, exploring direct, indirect, and retroactive incentives for DeFi protocol activity by increasing liquidity, trading volume, and overall growth on Starknet. The execution and deployment are scheduled for the first quarter of 2024.
OKX Jumpstart Launches New Project Fusionist (ACE)
On December 7th, according to an official announcement, OKX Jumpstart launched a new project called Fusionist (ACE). The OKX Jumpstart mining will start at 14:00 on December 13, 2023, Beijing time. BTC and OKB holders can obtain ACE token rewards by staking BTC and OKB. This OKX Jumpstart is only open to East Asian countries, excluding mainland China, Hong Kong, Macau, Mongolia, North Korea, and Japan. Related reading: "Interpreting OKX Jumpstart's latest project Fusionist, a sci-fi mecha-style chain game".
LayerZero: Protocol token expected to be issued in the first half of 2024
On December 8th, LayerZero Labs clearly stated on its social media platform that the protocol has a native token. The team will focus on the distribution of the token and expects to complete it in the first half of 2024.
Privacy Policy Namada RPGF Airdrop Officially Launched, Ending on December 28th
On December 8th, Layer1 protocol Namada, which focuses on privacy, announced the official launch of the RPGF airdrop. The Namada RPGF airdrop will end on December 28th, 2023 at 17:00. Eligible participants can submit their Namada genesis account through rpgfdrop.namada.net. Namada RPGF Drop has allocated 65 million NAM (6.5% of the total supply) in the following categories:
· Zcash development and Rust developer ecosystem (GitHub account): 11,500,000 coins.· ZKP, Cryptography PG, Privacy Research and Learning Resources (GitHub Account): 7,500,000 coins.
· Cross-chain PG, Shielded ecosystem, PGF mechanism development (GitHub account): 8,500,000 coins.
· Shielded Community (Cosmos/Osmosis/Stargaze accounts): 20,000,000 tokens
· ZK technology and Crypto Advocacy's Gitcoin donor (Ethereum account): 17,000,000 coins.
· Namada Trusted Setup participants (Namada Trusted Setup public key): 500,000 coins.
Levana Protocol: LVN token airdrop will start around December 20th, distributing 2% of the total supply in three phases
On December 8th, Levana Protocol, a sustainable trading platform in the Cosmos ecosystem, announced that LVN tokens were minted on Osmosis last week. At launch, 7% (70 million) of the total supply of LVN tokens will be unlocked. To be eligible for the airdrop, users must complete specific actions within the Levana ecosystem and register with the same wallet address on a designated website to ensure fair distribution and filter out bots. The airdrop will be divided into three phases: 1) Family airdrop, targeting early adopters, including Levana NFT community members and those who traded Levana perpetual contracts on platforms such as Osmosis, Injective, and Sei; 2) Community airdrop, expanding the scope to include other community members such as traders from Stargaze, Kujira, and Astroport; 3) Final stage: focusing on attracting new users from outside the Cosmos ecosystem. Specific details will be announced later.
Levana airdrop plan will distribute a total of 20 million tokens in three separate stages, with a significant portion of 14 million tokens specifically allocated for the first stage. The tokens will officially go live to the public on December 18th, and the first stage of the airdrop is expected to begin around December 20th. The entire process of the three airdrops is expected to be completed within six months, although this timeline may be subject to change or updated multiple times.
L2 Network ZKFair launches testnet and airdrops 100% tokens to the community
On December 7th, the first community L2 network ZKFair announced the launch of its testnet and will airdrop 100% of its tokens to all community users through Gas fee Airdrop after the mainnet launch. The total supply of ZKF tokens is 10 billion, of which 2 billion will be fairly airdropped to L2 community users, and the remaining 8 billion will be produced through Gas Fee Airdrop after the mainnet launch, with a Gas Fee cap of 3 million USDC on a first-come, first-served basis. There will be no more ZKF tokens issued in the future. All 10 billion ZKF tokens will be immediately released and circulated. The ZKFair mainnet is expected to launch around December 20th.
Pudgy Penguins will launch Pudgy World Alpha in Q1 2024
BlockBeats reported on December 10th that NFT project "Pudgy Penguins" announced on social media that Pudgy Penguins will launch Pudgy World Alpha in Q1 2024, supported by zkSync. Pudgy World is an interactive digital gaming venue for Pudgy Penguins NFT holders, toy owners, and beginners. Pudgy World Alpha will introduce new characters Pudgy and Peaches. As a result of this news, the floor price of Pudgy Penguins has surged to 12 ETH, a 45.27% increase in 7 days.
Eclipse Fi announces ECLIP token economics, with IDO price at $0.075
According to BlockBeats, on December 10th, Eclipse Fi, a modular token issuance platform in the Cosmos ecosystem, announced the ECLIP token economics on social media.
· Total supply: 300,000,000 ECLIP coins
· Initial circulating supply: 20,550,000 ECLIP coins.
· IDO Price: 0.075 USD / FDV: 22,500,000 USD
· Launch Chain: Neutron (ECLIP will also be wrapped on Arbitrum and Ethereum)
IDO whitelist application will start next Monday.
Bitcoin collateral protocol Babylon completes $18 million financing, led by Polychain Capital and Hack VC
On December 7th, the Bitcoin collateral protocol Babylon completed an $18 million financing round, led by Polychain Capital and Hack VC, with participation from Framework Ventures, ABCDE Capital, IOSG Ventures, Polygon Ventures, and OKX Ventures. Babylon is expected to enter the testnet in January 2024. Ideally, the protocol hopes to launch the mainnet in April, when Bitcoin's "halving" occurs and miner rewards are reduced. Tse pointed out that the deployment of the mainnet largely depends on the security audit results of the Babylon testnet.
On December 4th, Bitcoin returned above $40,000. The crypto industry has been waiting for this day for 578 days. Throughout 2023, the price of Bitcoin has risen by 139.9%, proving that a bull market is not a moment, but a state, and we have long been in this state. "Can we still get on board now?" This is the slogan of every bull market. Since its inception in March, bias has been closely associated with the Bitcoin ecosystem, but it seems to have never given up convincing everyone: "If you have bias, let the Bitcoin ecosystem rise until you have no bias."
除了 ORDI，比特币各赛道龙头都在哪里交易？
Translation:
Where do the leading players in each Bitcoin track trade, except for ORDI?
With Ordi's price breaking through $54, the wealth effect of its more than 20,000-fold increase in 9 months has made the Bitcoin ecosystem a hot investment track for investors. However, because many protocols in the Bitcoin track are still in the early stages of development, many targets cannot be purchased through mainstream exchanges. BlockBeats has compiled a list of other popular targets in the Mingwen ecosystem and their purchasing methods, excluding Ordi.
Tens of thousands of times PEPE and ORDI, the strongest assets on Earth this year
SevenX Ventures: Uniswap from Zero to Infinity
On December 5th, Ryan Sean Adams, the founder of Bankless, pointed out that the fundamentals of Ethereum are strong and that its true value has yet to be realized. This ignited long-held emotions, and many community participants and blockchain developers joined in, starting a heated debate on the value and market sentiment of Ethereum. In the current landscape where the Bitcoin ecosystem is flourishing, many Ethereum ecosystem participants are also pondering why Ethereum has yet to fully unleash its true power.
Solana 系空投预期拉升，一览潜在空投的 12 个项目
Translation:
Solana's airdrop expectations are rising, a look at 12 potential airdrop projects
This article is a summary and outlook by Jocy, founder of the crypto fund IOSG Venture, on 2023: 1. The growth of scale effect brought by effective regulation 2. Data tells us that the bull market has begun to return 3. Continuous ecological innovation, the large and unbreakable Ethereum 4. The BTC Ordinals ecosystem that cannot be ignored.
Ordinals' vitality in the ecology cannot be underestimated. In addition to ORDI, Multibit, a cross-chain protocol based on the BTC network, completed its IDO on November 14th and its market value has exceeded $70 million. ALEX Labs, a Bitcoin DeFi platform based on the Stacks network founded in May this year, has seen a significant increase in the value of its token ALEX. In addition to the new protocols, IDO platforms that have incubated and participated in the early development of these projects are also worth paying attention to.
On November 28th, Jito, a liquidity staking protocol on Solana, announced the launch of its governance token, JTO, and will airdrop 100 million JTO tokens to the community. Jito has identified JitoSOL users, Jito Solana validators, and Jito MEV searchers as the target audience for the airdrop. This article provides a detailed explanation of the airdrop rules.
On December 8th, Jito Labs, a MEV infrastructure developer in the Solana ecosystem, opened the JTO airdrop application window. After a brief shock at the opening, the price of JTO quickly climbed. JTO is a hot topic in the crypto community these days, and in this discussion, in addition to projects on the Solana ecosystem, there is also a platform that has attracted community attention, which is Aevo, a derivative trading protocol for JTO futures that quickly went online after JTO announced its airdrop verification website.
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