Altcoin News

Lido DAO launched a proposal to create a new multi-signature wallet to receive ARB airdrop tokens

Lido, a liquidity staking protocol, tweeted that the Arbitrum Foundation previously announced that the Lido protocol is eligible to claim 772,621 ARB tokens.

Initiate proposals for the Lido DAO reWARDS committee for this airdrop, covering operational and strategic topics related to claiming and effectively using potential ARB tokens.

These include:
1. Designate a representative or a group of representatives for Lido DAO to inform Lido DAO that it will accept the airdrop and start the claim process.
2. Appoint the Lido DAO reWARDS Committee as the designated representative of the DAO, responsible for communicating with the Arbitrum Foundation and handling airdrop token claims.
3. Confirm that the reWARDS committee has the right to claim ARB tokens.
4. The reWARDS committee will create a new 4/7 multi-signature wallet on the Arbitrum One network for receiving ARB tokens.
5. Staking will be increased in the next 4-6 months by incentivizing the adoption of wstETH in the Arbitrum ecosystem.
6. A monthly reporting structure is proposed to ensure the Lido DAO community is informed of the progress of the plan.

The Yearn Finance community, a DeFi revenue aggregator, recently launched a proposal to launch yETH tokens. According to the proposal, Yearn ETH (yETH) is generated when users deposit a basket of various ETH liquid collateral tokens.

yETH can reclaim the deposited value, and obtain relevant Ethereum PoS staking rewards through the diversification of LSD when staking, and obtain a more mixed risk/return.

The proposal is currently under discussion. According to the voting rules, it will be discussed through non-binding forum voting for at least 3 days to gauge sentiment before it can be assigned a YIP number and transferred to a snapshot for binding voting by veYFI holders. However, in In the current poll, 20 people have voted, 11 of whom have voted against. Polls will continue for three more days.

According to PeckShield monitoring, QNT fell by 11% within 3 hours. The address marked by Bitrue Drainer exchanged 173,000 QNT, 22.55 billion SHIB, 46.4 million GALA, and 310,000 MATIC for approximately 8,540 ETH.

Bitrue Drainer received about $22 million worth of cryptocurrency from 0x34d8…31a three days ago (3.20 ETH, 173,000 QNT, 172.55 billion SHIB, 46.4 million GALA, 756 million HOT and 310,000 MATIC) .

Zane Tackett, the former head of institutional sales at bankrupt cryptocurrency exchange FTX, said via Telegram that FTX should restart and offer tokens that represent creditors’ claims.

Tackett believes that FTX should be resurrected with all the products it offered when it collapsed last November, while adding a marketplace for trading creditors’ claims on the bankrupt company.

Tackett pointed to cryptocurrency exchange Bitfinex, which offered a token called BFX after it was hacked in 2016, as an example of how it would work.

He said the new exchange could, like Bitfinex, provide a market for FTX claims of one token per $1 lost.

Crypto payment solutions provider Alchemy Pay has announced a partnership with stablecoin issuer CNHC.

Through this partnership, CNHC will become part of the Alchemy Pay ecosystem and leverage its on and off ramp solution to enable users to buy and sell CNHC using various global fiat currencies.

CNHC will also be listed on Alchemy Pay’s ramp, providing support for adding payment scenarios and facilitating the seamless transfer of CNHC between the traditional financial and crypto worlds.

As reported last month, stablecoin issuer CNHC completed a $10 million A+ round of financing led by KuCoin Ventures.

On Monday, Twitter changed the webpage LOGO icon from a blue bird to a DOGE dog head, and the price of Dogecoin (DOGE) soared almost immediately, and several other Shiba Inu-themed Meme coins also rose sharply, with an average increase of 14% for the entire sector .

Large cap tokens like SHIB are up 10%, while small cap tokens like FLOKI, KISHU and BABYDOGE are up 25%. In addition, zkDoge and zkShib on the zkSync blockchain launched in March have increased by as much as 100%.

However, the rise is unlikely to last in the long term, with some traders warning that the move is not indicative of a broader trend.

“We don’t think this heralds a long-term bull market,” said Guilhem Chaumont, chief executive of cryptocurrency trading firm Flowdesk.

Quite the contrary, the upward trend of the crypto market is regular, first Bitcoin goes through a bull market, then the major altcoins, and finally the coins with smaller market caps.

According to the data disclosed by Spot on Chain, the wallet address “beginning with 0x2eFB50” has transferred 213 billion SHIB to the two major trading platforms of Coinbase and OKX.

Not only that, but the address previously transferred 230 billion SHIBs to the address wallet starting with “0x66E092”, of which 17.9 billion SHIBs flowed to Binance and 15 billion SHIBs flowed to Coinbase.

According to statistics, the total amount of funds that the whale transferred to the centralized exchange through this operation reached 245.9 billion SHIB.

Over the past 24 hours, more than $26 million in Dogecoin (DOGE) futures liquidations were higher than normal, according to data from Coinglass.

Bulls and bears are affected almost equally. The long position is closed by $10 million and the short position is closed by $13 million.

Traders on OKX were the most affected, losing $12 million on their Dogecoin futures positions. Additionally, the open interest in Dogecoin futures surged above $580 million.

According to the previous news, Twitter changed the LOGO icon from the blue bird to the DOGE dog portrait, and DOGE rose for a short time, breaking through 0.1 USDT, with an increase of more than 23% in 24H.

Arbitrum has responded to the governance controversy on its official Twitter and retweeted a lengthy clarification posted on the official governance forum.

Regarding some of the controversies involved in the governance proposal, Arbitrum explained: With the launch of the DAO, there was a “chicken and the egg” problem, and many decisions had to be made before the official launch. Regarding AIP-1, Arbitrum pointed out that the goal of the proposal is to involve the community in the initial decision-making, and eventually have token holders vote to approve the initial decision and framework through the DAO.

Regarding the on-chain transfer of 50 million ARB, Arbitrum made a clarification: the foundation did not sell 50 million ARB tokens. Of these, 40 million were allocated as a loan to a savvy participant in the financial market, and the remaining 10 million were converted into fiat currency and used for operating costs.

According to Token Unlocks data, the number of tokens planned to be unlocked in April reached 17, which will release more than $330 million worth of tokens into the circulation market.

Among them, BIT, APECoin ( APE ) and Aptos ( APT ) are expected to be the three largest unlocking projects this month. BIT will unlock 187,500,000.32 tokens on April 15, equivalent to about 96 million US dollars at current prices, followed by APE Afterwards, 15 million tokens will be unlocked on April 17, accounting for 1.56% of the project’s total supply and worth over $66 million. APT plans to unlock 4.5 million tokens, or roughly $52 million, on April 12.

Other unlocked project tokens include 1inch (1INCH), Galxe (GAL), Tornado Cash (TORN), Moonbeam (GLMR), DyDx (DYDX), Euler (EUL), Sweat Economy (SWEAT) and NYM (NYM), Axie Infinity (AXIE), Immutable X (IMX), Acala (ACA), Ronin (RON), X2Y2 (X2Y2), and Yield Guild Games (YGG).

Trading volumes in the TrueUSD (TUSD) stablecoin surged over the course of the week, with 24-hour trading volumes surpassing $1 billion for most of Thursday and Friday, up from daily TUSD earlier this month, according to CoinGecko data. Transaction volumes were mostly below $100 million.

According to data from Binance, the BTC/TUSD trading pair on Binance alone has seen $713 million in trading volume over the past 24 hours.

As previously reported, earlier this week, Binance phased out the zero-fee offer for buying and selling Bitcoin for multiple tokens, leaving only a zero-fee promotion for the TUSD stablecoin, which boosted TUSD’s trading activity.

Musk asked a U.S. judge on March 31 to dismiss a $258 billion lawsuit. Musk’s lawyers said investors never explained how Musk intended to deceive others and how he concealed risks.

It is not illegal to tweet supportive remarks or funny pictures about a legitimate cryptocurrency, the lawyers said.

Last June, a Dogecoin investor filed a lawsuit against Musk, his Tesla and Space Exploration Technologies for $258 billion. Dogecoin was originally created as a joke, but its price has seen wild swings at Musk’s prodding.

On March 30, according to the official announcement, after Radiant Capital (RDNT) was listed on Binance Innovation Zone, many users recharged Radiant Capital (RDNT) on Binance through the old smart contract address.

Therefore, Binance will support swapping from the old Radiant Capital (RDNT) to the new Radiant Capital (RDNT) token. All Radiant Capital (RDNT) tokens deposited through the old smart contract address will be recorded as RDNTOLD in Binance users’ accounts.

Users who hold RDNTOLD can exchange for RDNT at a ratio of 1:1 through the flash exchange platform from March 31, 2023.

According to official data, from March 17 to March 24, Circle issued a total of USD 500 million in USDC and redeemed USD 2.6 billion in USDC, reducing circulation by approximately USD 2.1 billion.

As of March 17, the total circulation of USDC was 34.6 billion US dollars, and the reserve was 34.6 billion US dollars, including 5.6 billion US dollars in cash and 29 billion US dollars in short-term US treasury bonds.

According to Lookonchain statistics, the top five whale buyers of ARB on the chain purchased a total of more than 13 million ARB at a unit price of 1.28 to 1.38 US dollars. Among them, addresses starting with l0xb154 purchased 4.94 million ARB with 3,700 ETH (6.79 million US dollars) , and the purchase price is $1.38.

The address starting with 0xb0fc7 purchased 2.74 million ARBs with 3.52 million USDC at a unit price of $1.28. This address has earned $1.77 million in transaction fees by providing liquidity for ARB on Uniswap.

In addition, addresses beginning with 0x139e3 purchased 2.61 million ARBs with 3.56 million USDC and USDT at a unit price of $1.36; addresses beginning with 0xf53fe purchased 1.53 million ARBs with 1.95 million USDC at a unit price of $1.28. The address starting with 0xa161a purchased 1.49 million ARBs with 1.99 million USDC at a unit price of 1.33 USD.

According to news on March 23, in the past 7 days, the price of the dead old project ARbit (ARB) rose from 0.00024 US dollars to 0.027 US dollars, an increase of up to 100 times.

Today, the ARbit (ARB) price has retreated to $0.016 with a 24-hour trading volume of just $8977. The price of ARbit (ARB) has skyrocketed, suspected to be because some traders mistook it for the token of Arbitrum (ARB).

According to the official website, ARbit (ARB), a cryptocurrency used in the AR (Augmented Reality) industry, was launched in 2015. It has not made any noise in the past 8 years and has long been considered a dead project.

On March 23rd, the Starknet Early Adopter Grants Committee launched the first round of EAG token grants today.

The committee is authorized to operate until June 30, 2023. The committee budget is 1 million STRK tokens, which will be distributed to project parties through multiple rounds. At present, project applications are open for the first round of funding activities. The deadline for applications is April 5, and the committee will make decisions on April 13, 2023.

Starknet stated that this round of funding is mainly aimed at applications deployed on the Starknet mainnet or one of the testnets before April 5th. The foundation will use other channels to fund off-chain infrastructure that contributes to the ecosystem (such as building developer tools) or the Cairo library).

As previously reported, the Starknet Foundation appointed five committees, including a provision committee responsible for planning the supply of STRK. The Early Adopter Grants Council is dedicated to fostering the growth of the Starknet ecosystem by providing grants to innovative teams building on-chain applications on Starknet.

Data shows that at least $5 billion has flowed into USDT in the past few weeks, and its market capitalization has exceeded $77 billion so far.

Cluzeau said that we have seen a lot of USDC and DAI being traded into USDT, which keeps USDT liquid. Mitya Argunov, chief product officer at, said that USDC’s systemic risk impacts the DAI stablecoin, further strengthening the argument that tether holds multiple assets to back its stablecoin.

Tether’s performance during the crisis was largely due to the fact that it had no direct exposure to SVB, it just had no deposits there. Other major stablecoins, such as DAI, were also indirectly exposed and unpegged, as they were actually mostly collateralized by USDC.

March 22 news, according to data analysis platform X-explore research, Arbitrum’s anti-sybil rules in this airdrop caused a “major loophole”, resulting in approximately 150,000 Sybil (sybil) addresses and at least 4,000 Sybil communities profiting More than 253 million tokens, accounting for 21.8% of the total airdrop volume.

According to X-explore speculation, Arbitrum’s rules are: exclude cross-chain bridges, centralized exchanges, and smart contracts when detecting Sybil; use relatively tolerant detection for small-scale, same-person addresses; only snapshots (February 6, 2023 ) before for Sybil detection.

Only data from Arbitrum and Ethereum were used for Sybil detection, while data from other Ethereum 2 layers such as Optimism and Polygon were ignored.

These Sybil detection rules will cause major loopholes. According to the above rules, X-explore detects witch address data through the internal same-person address/Sybil address recognition model.

According to official news, the Opendao team announced that it will soon release a new project AI Dao Nerwork, the token AOS$, with a total of 10 billion pieces. 10000:1 to receive AOS airdrop after block snapshot.

AI DAO Network is a decentralized financial protocol based on Openai (Chatgpt), dedicated to opening up a bridge between artificial intelligence AI and the encryption world.