Weekly Project Updates: Worldcoin Extends Token Unlock Period, Scroll TVL Surpasses $1 Billion, Binance Launches Airdrop Portal for BANANA, etc

Jul 20, 2024

1. Worldcoin: TFH Investors and Team Members’ WLD Tokens Unlock Period Extended to 5 Years link

According to the latest Worldcoin white paper, the unlock schedule for approximately 80% of TFH investors and team members’ WLD tokens will be extended from 3 years to 5 years, with the first year’s schedule remaining unchanged. There are no plans to further extend the lockup period for TFH reserves. Under the new unlock plan, TFH investors and team members will unlock about 2 million WLD per day after July 24, equivalent to approximately $4.8 million, a 40% reduction from the previous daily unlock amount of 3.3 million WLD.

2. Optimism Announces Retro Funding 4 Results link

Optimism has announced the results of the fourth round of Retro Funding (Retro Funding 4), allocating 10 million OP tokens to over 200 projects. The rewards will be based on the projects’ performance according to metrics chosen by badge holders. The primary metric is the gas fees generated on the Superchain from October 2023 to June 2024. The secondary metric includes trusted users joining the Superchain. Notably, Zora and Layer 3 have each been awarded 500,000 OP tokens.

3. Scroll TVL Grows 21.9% in the Last 7 Days to $1.01 Billion link

According to L2Beat data, on July 15, Scroll’s TVL grew by 21.9% over the past 7 days, reaching $1.01 billion, making it the eighth Ethereum Layer 2 network to surpass $1 billion in TVL. Of Scroll’s $1.01 billion TVL, ETH accounts for 87.17%, stablecoins 11.22%, and others 1.61%.

Previously, the Scroll Layer 2 network launched its on-chain identity and reputation portal, Scroll Canvas. Users can collect on-chain achievements in the form of “badges” by interacting with projects across the Scroll ecosystem. Any project on Scroll can issue badges, and Scroll Canvas is now open for minting, allowing users to connect their Ethereum wallets to begin.

4. Scroll-Supported Lending Protocol Rho Suffers Oracle Attack link

On July 19, Scroll’s officially supported lending protocol, Rho, suffered an oracle attack. The root cause appears to be malicious actors gaining access to and controlling the Oracle, affecting the USDC and USDT pools. As of now, the attacker holds approximately $7.6 million across multiple chains. Scroll has confirmed that the Rho Markets vulnerability is specific to the application, with Rho Markets leading the response efforts.

On the same day, the attacker sent an on-chain message to the Rho team, stating that their MEV bot profited due to Rho’s price oracle misconfiguration. “We understand these funds belong to the users and are willing to return them in full. However, we first want you to acknowledge that this was not a vulnerability or hack but a misconfiguration on your part. Additionally, please specify the measures you will take to prevent such incidents in the future.”

5. Base Chain Lead: Committed to Making Smart Wallets the Default Wallet on Base Network link

According to @eekeyguy_eth’s data panel, in the past week (July 8–14), Base saw 95.11k active smart accounts, with 78.83k new deployments. The number of smart wallet transactions (UserOps) reached 1.3 million, setting a new record for the second consecutive week. Base chain head Jesse Pollak stated their commitment to making smart wallets the default wallet on the Base network.

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6. LayerZero Foundation: Final Distribution to Bounty Hunters on July 23 link

The LayerZero Foundation has announced that the provisional bounty hunter list and other details have been uploaded to the Commonwealth platform. Bounty hunters can review this provisional list until 00:00 UTC on July 21. The final distribution will be completed by the end of the day on July 23 (Tuesday). The allocation is at the sole discretion of the LayerZero Foundation and may be subject to change. This list should not be considered the final sybil list or reused without adjustments. It does not account for unreviewed reports or those later determined to be false positives.

7. HashKey Platform Token HSK Announces Partnership with All-Chain Liquidity Asset Protocol StakeStone link

HashKey’s platform token, HSK, has announced a strategic partnership with the cross-chain liquidity asset protocol StakeStone. Initially, the collaboration will focus on HSK’s airdrop activities, with plans for continued cooperation in joint market promotion, ecosystem development, and public chain construction. Together, they aim to advance the Web3 ecosystem. HSK, the token for the HashKey platform, is scheduled to officially launch in the third quarter of 2024. HashKey Chain is the Layer 2 ecosystem chain of HashKey. StakeStone aims to establish a liquidity ETH/BTC asset standard based on a highly scalable staking network.

8. Solana DEX Raydium Achieves Record Weekly Trading Fees Last Week link

According to DeFiLlama data, over the past week, Solana DEX Raydium captured $18 million in trading fees, setting a new historical weekly high. This figure surpasses Ethereum ($16.24 million) and Solana ($9.31 million), making Raydium the second highest fee capture protocol or application, after Lido. During the same period, Solana DEXs saw trading volumes exceeding $13 billion, with Raydium capturing approximately 62% of the trading volume.

9. SHIB to Change Leadership and Transfer Project Control to Community by Year-End link

Shytoshi Kusama and Kaal Dhairya, the anonymous lead developers of the MEME project Shiba Inu (SHIB), revealed in an interview with Arabian Business that their entry into the crypto industry was inspired by a super-wealthy passenger they encountered while working as an Uber driver. They subsequently connected with Ryoshi, the anonymous creator of SHIB. Kusama and Dhairya plan to transfer control of the project to the community by the end of this year. Additionally, the project will establish a dedicated committee to oversee certain aspects by year-end.

10. Binance Announces Airdrop Portal Launch with First Project: Banana Gun (BANANA) link

Binance has announced the launch of its airdrop portal with its first project: Banana Gun (BANANA), the ecosystem token of the Banana Gun TG bot. Users who earn coins simply by using BNB will be eligible for the airdrop distribution. BANANA will be listed on Binance on 2024–07–20 at 09:00 (UTC). The Binance HODLer Airdrops program rewards BNB holders with token airdrops based on historical snapshots of their BNB balances.

In September 2023, Banana Gun released the BANANA Token. Despite claiming to have passed two audits, a critical, unfixable flaw was discovered in the tax contract, which allowed users to retain tax dividend tokens after selling BANANA. Due to the project’s LP being locked, they were forced to sell the treasury wallet to deplete the LP.

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