Weekly Project Updates: Starknet Snapshot Deadline Reached, Cosmos Fork Proposal, Launch of Chainlink Stake v0.2, etc

Dec 02, 2023

1. Starknet Foundation: Qualification Deadline for Airdrop Determined link

On December 1st, the Starknet Foundation responded to community speculation regarding an upcoming airdrop, stating that the eligibility cutoff date has been determined, and any further user actions will not affect this. Official criteria and details regarding the allocation of funds will be shared when finalized. In a previous announcement in 2022, the Starknet Foundation detailed its plan to issue a total of 10 billion Stark (STRK) tokens, with 50% reserved by the organization, and the remainder allocated to core developers, ecosystem contributors, and the community.

2. Cosmos’s Weekly Summary

a. Cosmos Hub Community Votes in Favor of “ATOM Reduction: Setting Maximum Inflation Rate to 10%” Proposal link

On November 26th, the Cosmos Hub community voted in favor of the proposal ‘ATOM Reduction: Set the Maximum Inflation Rate to 10%.’ The proposal received support from 41.1% of the voters, while 31.9% opposed it. This change will reduce the maximum inflation parameter for ATOM from 20% to 10%, resulting in the current inflation rate for ATOM decreasing to 10%. Additionally, the stake annual yield will decrease from 19% to 13.4%.

b. Cosmos Co-Founder Jae Kwon Introduces AtomOne Fork Proposal link

On November 27th, Cosmos founder Jae Kwon tweeted that despite casting his vote against the ‘ATOM Reduction: Set the Maximum Inflation Rate to 10%’ proposal, the proposal ultimately passed. Kwon believes that the final plan should include integrating ATOM with ATMO/ATMO1 to avoid mass selling of ATOM, preventing it from collapsing. This approach allows ATOM to participate, but he suggests improving the README content. Kwon mentioned that there will be a fork of Cosmoshub4, creating a new network called AtomOne, which will serve as the current software but transition towards the minimum viable end product through his own plan and a more decentralized development team compared to Gaia.

On November 28th, Cosmos co-founder Jae Kwon introduced the specific plan for the Cosmos fork called AtomOne. The plan includes a declaration, vision and mission, genesis allocation, token economics, AtomOne governance, and technical steering committee, aiming to address different community perspectives on the mission, token economics, and security. It mentions that 10% of ATOM1 will be pre-mined for various purposes, while 80% of inflation and rewards will go to the stakers of validators chosen.

3. IOTA Launches $100 Million Ecosystem Fund link

On November 29th, IOTA announced its registration as the first foundation under the regulations of the Abu Dhabi Global Market (ADGM) in the United Arab Emirates. IOTA positions itself as a leading L1 public blockchain in the Middle East region. Equipped with a $100 million local ecosystem fund, it is set to establish a thriving web3 ecosystem and focus on real-world assets (RWA) business in the Middle East.

4. Chainlink Announces Chainlink Stake v0.2 Now Live on the Ethereum Mainnet link

On November 29th, Chainlink announced that Chainlink Stake v0.2 is now live on the Ethereum mainnet. The staking pool has expanded to 45 million LINK (8% of the current circulating supply). Existing stakers can migrate their staked LINK and rewards to the new version during a 9-day ‘priority migration’ period, followed by early access and general access phases on December 7th and December 11th, respectively.

5. Hooked Protocol Announces $50 Million Education Ecosystem Fund link

On November 30th, Hooked Protocol announced the launch of a $50 million education ecosystem fund and initiated collaborations with educational institutions. The new education fund will leverage the HOOKED 2.0 ecosystem to explore learning innovations and underlying utilities of the HOOK token. It aims to integrate HOOK into online courses, allowing the token to be used for interactive on-chain and offline educational experiences.

6. Fuel’s Q1 Grant Program Now Open, Offering Up to $50,000 per Project link

On November 28th, the modular execution layer for Ethereum, Fuel, announced through a tweet that its first-quarter grant program is now open. This program will fund 10 projects, with each project eligible for up to $50,000, aimed at developing new web3 application use cases on Ethereum, with technical support provided by FuelVM. The application window for grants is open from November 27th to December 10th.

7. Magic Eden Announces Launch of Plugin Wallet, Supporting Bitcoin Ordinals/BRC-20 link

On November 27th, the NFT trading marketplace Magic Eden announced the launch of the Magic Eden Wallet Beta version, which is currently available for early testing. This wallet supports Solana, Ethereum, Polygon, and Bitcoin Ordinals/BRC-20.

8. DeGods and y00ts Founders Announce Closure of Points Parlor Rewards Program link

On November 28th, Frank, the founder of DeGods and y00ts series NFTs, announced via Twitter that they would be shutting down the Points Parlor rewards program and discontinuing the distribution of points to DeGods and y00ts NFT holders. The program failed to meet community expectations and revealed fundamental flaws in both the product and the distribution of points, leading to dissatisfaction among users. While Frank expressed a willingness to reconsider if a viable alternative arises, for now, the decision has been made to close the Points Parlor program.

9. Recent BanklessDAO’s $1.82 Million ARB Grant Application to Arbitrum Sparks Controversy link

On November 27th, BanklessDAO’s recent request for a 1.82 million ARB grant for a 12-month public education campaign on Arbitrum faced scrutiny and questions. Additionally, in the 19th round of donations on Gitcoin, ten entities claiming to be BanklessDAO requested grants. Despite not being affiliated with Bankless, there were concerns about the involvement of rsa and David, co-founders of Bankless and some of the largest holders of BANK tokens. rsa stated that plans were underway to submit a governance proposal to clarify the separation of branding between entities and to consider the destruction of all BANK tokens.

10. Jupiter Initiates Airdrop Claiming for JUP Tokens link

On December 2nd, Solana DEX aggregator Jupiter announced the commencement of the first round of claims for the JUP token airdrop. According to the previously disclosed airdrop details by Jupiter, the total supply of JUP is 10 billion, with 40% allocated to the community through four rounds of airdrops. The first round will distribute 10% (1 billion JUP), and users who interacted directly with Jupiter before November 2nd from 955,000 wallets are eligible to receive the airdrop.

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