Weekly Project Updates: EigenLayer Achieves Record TVL, Wormhole Launches Governance, StarkWare Backs Bitcoin Scaling, etc

Jun 08, 2024

1. EigenLayer TVL Surpasses $2 Billion, Continues to Achieve Historic Highs link

EigenLayer’s Total Value Locked (TVL) has surpassed $2 billion, marking a historical high and solidifying its position as the second-largest DeFi protocol by TVL, just behind Lido. Currently, approximately 16.15% of staked ETH is in a re-staking state. Last month, EigenLayer launched the EIGEN token with an airdrop, although the tokens are currently non-transferable.

2. zkSync Announces Prover Network Milestone, Invites Hardware Teams to Join link

zkSync has announced a milestone for its Prover Network, with plans to begin testing integration in early Q3 of this year. In mid to late Q3, they aim to complete proof verification in the first phase, followed by real-time proof verification in the latter part of Q3. By early Q4, they anticipate entering the third phase for Live testing verification, with completion of Live verification by the end of Q4. Concurrently, zkSync is inviting hardware teams to join the Prover Network.

3. Wormhole Launches Stake For Governance, Allowing W Holders to Participate in Token Staking for Governance link

Wormhole has tweeted that “Stake For Governance” is now live. W token holders are required to bridge their W tokens to the EVM chain and stake tokens to participate in governance. Additionally, as a security feature of Wormhole Guardians, the daily transfer limit of W tokens from Solana to the EVM chain is set at 100 million tokens.

4. StarkWare to Support Bitcoin Scaling, Introduces $1 Million Application-Oriented Research Fund link

StarkWare has announced plans to develop scalability solutions for Bitcoin, in addition to its existing efforts for Ethereum. As part of this initiative, StarkWare will launch a $1 million application-specific research fund aimed at supporting researchers and developers working on the OP_CAT and its impact on Bitcoin. StarkWare has expressed confidence that the OP_CAT proposal from the Bitcoin community is capable of enabling STARK-based scalability for Bitcoin, openly endorsing OP_CAT.

5. Starknet’s DeFi Protocol Nostra Announces Token Launch and Airdrop link

Nostra, the top-ranked DeFi protocol on Starknet by TVL, has announced the upcoming launch of its NSTR token along with its tokenomics. A total of 100,000,000 NSTR tokens will be fully unlocked upon release, with 11% allocated for a community airdrop during the Token Generation Event (TGE). Additionally, a liquidity bootstrapping pool (LBP) snapshot will take place from June 10th to 13th, followed by the TGE on June 17th, which includes the airdrop distribution.

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6. Worldcoin Survey of Spanish Users: Nearly 90% Support Restarting Operations link

A survey of over 21,000 Worldcoin users in Spain has revealed that nearly 90% of respondents support the reactivation of Worldcoin operations in the country. Conducted by Tools for Humanity in late May via the World App, the survey results indicate that 82% of participants believe in the importance of Worldcoin technology for distinguishing between humans and robots, while 81% feel secure using Worldcoin. Previously, Tools for Humanity voluntarily extended the suspension of Worldcoin Orb operations in Spain to complete a GDPR compliance audit supervised by Bavaria’s BayLDA.

7. Ethereum Staking Protocol Swell Unveils Token Airdrop Plan link

The Ethereum staking protocol Swell has announced its roadmap for decentralized governance, along with details of the $SWELL token airdrop plan. According to officials, $SWELL will be utilized for governing the Swell protocol and ensuring the security of Swell L2 through staking. Tokens acquired via “The Voyage” initiative (representing 8% of the total supply) will primarily be distributed linearly, based on the amount of Pearls held, with loyalty rewards calculated based on the duration of deposits in Swell.

8. Full Set of Gold Skin Collectibles BAYC to be Auctioned at Sotheby’s link

Memeland’s data scientist Stats tweeted that the complete set of golden skin collectibles owned by the bankrupted 3AC, including BAYC 8552, MAYC 27104, MAYC 27105, and BAKC 7075, will be auctioned at Sotheby’s on June 18. Sotheby’s Vice President Michael Bouhanna retweeted the announcement, confirming the event. Currently, these four NFTs are held in the address sothebys-grails.eth.

In August 2021, 3AC purchased BAYC 8552 and BAKC 7075 for 105.99 ETH (approximately $402,000), and in March 2022, they acquired one BACC serum for 38 ETH (around $144,000) to mint two MAYC tokens. It’s notable that the current floor price for BAYC is only 12.9 ETH.

9. Bitcoin Network Rune Rune Achieves Overall Market Value of $1.66 Billion link

Recently, the forging and on-chain transactions of Bitcoin network runes have seen a resurgence, with the total market value of runes reaching $1.66 billion. SatoSea has conducted statistics on the forging activities of runes over the past 7 days. Among the top 20 runes by forging cost, MAGA•THE•DONALD•TRUMP incurred the highest forging cost of $1.2 million. However, based on current market values, it ultimately suffered a loss of approximately $394,000 (-33.26%).

On the other hand, BILLION•DOLLAR•CAT had a forging cost of only $120,000 but achieved a market value of $3.3 million, resulting in a profit margin of 2,738%. If each of these top 20 runes had forged 1,000 units, 70% of them would incur losses totaling around $22,000. However, the remaining 30% would generate income amounting to $151,000, resulting in a net profit of $129,000.

10. Binance Announces Launch of 55th Project IO.NET (IO) on Launchpool link

Binance has announced the launch of IO.NET (IO) as the 55th project on Launchpool, allowing users to mine IO by staking BNB and FDUSD. IO will go live on June 11, 2024, at 12:00 (UTC), with trading pairs including IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY. IO.NET operates as a DePIN project on Solana, with a total maximum supply of 800 million tokens. Of these, 500 million tokens will be allocated at launch (genesis supply), with an initial circulating supply of 95 million tokens, accounting for 19% of the genesis supply. Launchpool will receive 4% of the genesis supply.

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