The cryptocurrency market has witnessed a flurry of activity over the last 12 hours, with several notable developments across various projects. From token mergers and staking updates to new releases and rebranding efforts, here are the key events shared by Layergg.
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Ethena’s Reserve Fund Stability
According to @ki_young_ju, Ethena’s reserve fund is well-equipped to handle prolonged negative funding rates, similar to those experienced during the FTX/LUNA scenario in 2022. The fund’s stability is assured as long as Ethena’s market cap remains below $3 billion, which currently stands at $2.4 billion.
Artificial Superintelligence Alliance Token Merger
The Artificial Superintelligence Alliance has confirmed the merger of $FET, $OCEAN, and $AGIX tokens into the $ASI token. The $ASI token is expected to launch on May 24, marking a significant milestone for the alliance.
Jupiter Announces JupSOL
Jupiter has announced the launch of JupSOL, Solana’s yield Liquid Staking Token (LST). JupSOL will feature trustless delegation to Jupiter’s Validator with 0% fees and 100% MEV (Miner Extractable Value) kickback, offering an attractive opportunity for Solana investors.
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Show more +Gnosis Invests in HOPR for GnosisVPN Development
The governance of Gnosis has launched the GIP-98 proposal, recommending an investment in HOPR to develop the GnosisVPN. This collaboration aims to enhance privacy and security within the Gnosis ecosystem.
Origin DeFi DAO Approves OGV and OGN Token Merger
The Origin DeFi DAO has accepted the proposal to merge the OGV and OGN tokens. The OGV migration is set to go live in mid-May, streamlining the project’s token economy.
Qredo Rebrands to Open Custody Protocol
Qredo, a decentralized custody solution, has been rebranded to the Open Custody Protocol ($OPEN). This rebranding reflects the project’s commitment to providing an open and accessible custody solution for the crypto community.
Radiant Capital Proposes 50% Increase in RDNT Supply
Radiant Capital’s RFP-33 Governance proposal seeks a 50% increase in RDNT’s total supply to support new chain expansions and the launch of Radiant V3. The vote is currently around 50% in favor, with voting set to end in two days.
Portal Announces Astra Nova Launch
Portal has announced the upcoming launch of @Astra__Nova, a new addition to its ecosystem. Details about the project are expected to be revealed soon.
Tia Staking Surge Suggests Imminent Airdrop
According to @JoshuaDeuk, an additional 130 million $TIA tokens were staked between April 8 and 9. This surge in staking activity may suggest that a staking-related airdrop is on the horizon for Tia holders.
Victoria VR Unveils Early Access to Asugea Metaverse
Victoria VR has announced that it will launch Early Access to its VR metaverse, Asugea, on May 14. This release will allow users to explore and experience the virtual world firsthand.
XAI Staking Pool Goes Live
XAI has announced that its staking pool is now live, providing XAI token holders with an opportunity to earn rewards by staking their tokens.
The last 12 hours have seen a diverse array of developments in the cryptocurrency market, from token mergers and staking updates to new releases and rebranding efforts.
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