Bybit restructures executive team following $26M airdrop fiasco
Bybit confirmed internal role changes for several executives following a botched airdrop that affected 320,000 users and led to a $26 million compensation payout. Go to Source
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Eigenlayer team launches EIGEN token – but it’s non-transferable till September
The Eigenlayer team launched a claims process for its highly anticipated EIGEN token, but it won’t be transferable to others until further features are added. Go to Source
LayerZero tackles sybil activity with self-reporting mechanism
LayerZero Labs will enforce consequences for those who don’t self-report by May 17, 2024. Go to Source
Friend.tech’s FRIEND Token Airdrop Faces Steep Decline Since Market Debut
Friend.tech, the decentralized social media application on the Base network, recently launched its native token through an airdrop. Since trading commenced, the token has plummeted, dropping anywhere from 50% to 90% of its initial value across various decentralized exchange (dex) platforms, as reported by several different price aggregation websites. FRIEND Starts Strong but Value Plummets … Read more
Biggest Friend.tech whale dumps tokens as users struggle to claim airdrop
The largest Friend.tech whale has sold all his holdings, causing the new token to fall over 50% in value while other users are still unable to claim the airdrop. Go to Source
Chinese police capture StarkNet airdrop identity forger: Report
The suspect has claimed over 40,000 STRK coins that belonged to victims, before converting them to over $90,000 USDT. Go to Source
EigenLayer sees over 12,000 queued withdrawals. How far will TVL fall?
Mass withdrawals started on April 29, after EigenLayer’s decision to ban U.S. and Canada-based participants from its upcoming airdrop. Go to Source
Eigenlayer’s Airdrop Faces Backlash Over Token Restrictions and Minimal Allocations
The announcement of Eigenlayer’s airdrop, featuring non-transferable tokens and aggressive geo-restrictions, has sparked outrage among users who felt the allocated amount was minimal and the documentation confusing. Despite adding over $15.7 billion in staked Ether in anticipation, participants criticized the linear distribution model favoring large restakers and the stringent geographic limits excluding users from 30 … Read more
Blackrock’s Bitcoin ETF Wallets Hold Over $20,000 in Runes Tokens, Arkham Data Shows
Amid the excitement of Bitcoin’s new Runes protocol, Blackrock’s exchange-traded fund (ETF) wallets now contain over $20,000 worth of RSIC•GENESIS•RUNE tokens. Blackrock’s IBIT Benefits From Airdropped Runes Tokens On Thursday, Arkham, an onchain intelligence firm, revealed on social media platform X that two of Blackrock‘s IBIT bitcoin addresses possess tokens based on the Runes protocol. … Read more
Drift Foundation Announces 100 Million Token Airdrop for Solana-Based Dex Users
On April 16, 2024, the Drift Foundation, which supports the Solana-based decentralized exchange (dex) platform Drift, disclosed plans to distribute 100 million tokens to its users. The tokens will function as the platform’s governance coin, to be utilized by the community and the Drift decentralized autonomous organization (DAO). Solana-Based Dex Platform Drift to Distribute Governance … Read more
