- AlphaPacked — Daily Crypto Newsletter
- Posts
- Eigen Accused of Airdrop-Insider; Maker To Halt $WBTC Collateral
Eigen Accused of Airdrop-Insider; Maker To Halt $WBTC Collateral
Alpha Team
August 16, 2024
💰 Token Payouts Spark Conflict Concerns; MakerDAO Halts $WBTC
Potential Conflict of Interest: Eigen Labs employees reportedly received crypto payouts totaling nearly $5 million after distributing a list of employee wallet addresses to ecosystem projects, sparking concerns over conflicts of interest. Some projects felt pressured to send tokens to these employees to maintain good relations.
Banned Payout Practices: In response to these concerns, Eigen Labs and its Foundation banned employee payouts, acknowledging the potential bias or perceived preferential treatment. This move aims to uphold their "credibly neutral" reputation.
MakerDAO Governance Decision: Meanwhile, MakerDAO contributors voted to set the debt ceiling for wrapped bitcoin (WBTC) to zero, blocking new loans, due to security concerns following BitGo's partnership with BiT Global. Existing loans remain unaffected. Read More.
️ On today's Top Picks:
- 🛑 Maker DAO approves proposal halting $WBTC-backed loans.
- ⚡ Arbitrum DAO approves proposal enabling $ARB staking.
- 🪂 Orderly Network TGE & Airdrop launching August 26th.
- 💰 Chaos Labs raises $55M Series A led by Huan Ventures.
Read time: ⏰ 4 minutes
Crypto News
• ⭐️ Eigen Labs reportedly sent team members' wallet addresses to other projects for airdrops.
• US Senate Majority Leader Chuck Schumer intends to pass crypto legislation by end of year.
• ⭐️ Maker DAO approves proposal halting $WBTC-backed loans amid BiT Global concerns.
• ⭐️ Arbitrum DAO approves proposal enabling $ARB staking.
Alpha
• Weekly News by Earndrop.
• Weekly Crypto Update by mystri.
• Forma launches limited-time "Feuiller La Marguerite" NFT mint.
• ICYMI Symbiotic launches support for Bitcoin & introduces first cohort of Bitcoin partners.
Airdrops
• Entangle Omnichain Omnipoints Program by Earndrop.
• deBridge launches two options for vested $DBR airdrop recipients.
• ⭐️ Orderly Network $ORDER TGE & Airdrop launching August 26th.
• Grass Airdrop coming soon as snapshot is taken.
• ICYMI aPriori Monad LST platform by Earndrop.
Finance News
• South Korea's National Pension Service (NPS) buys $33.75M of MicroStrategy $MSTR shares in Q2 2024.
• Revolut valued at $45B through secondary share sale to new & existing investors.
• Exodus Movement $EXOD reports $10M loss in Q2 2024; revenue jumps to $22.3M.
• ICYMI US Inflation falls to 2.9% in July 2024, lower than expectations.
Security and Exploits
• Apple macOS systems targeted by Banshee Stealer malware.
• MSI Motherboards vulnerability discovered potentially allowing arbitrary code execution within System Management Mode.
• ICYMI SlowMist Weekly Security Report highlights key incidents & takeaways.
• ICYMI RevokeCash partners with Webacy to bring better risk assessments of token approvals.
Token Unlocks
• Sandbox / 205.59M $SAND / ~$55M / AUG 14
• CYBER / 1.99M $CYBER / ~$6M / AUG 14
• Starknet / 64M $STRK / ~$26M / AUG 15
• Render / 760.57K $RENDER / ~$4M / AUG 15
• Arbitrum / 92.65M $ARB / ~$54M / AUG 16
• ApeCoin / 15.6M $APE / ~$9M / AUG 17
• Ethena / 14.89M $ENA / ~$5M / AUG 18
• Oasis / 151M $ROSE / ~$9M / AUG 18
• Pixels / 54.37M $PIXEL / ~$7M / AUG 19
Funding
• ⭐️ Chaos Labs raises $55M in Series A funding led by Huan Ventures.
• WPSN raises $30M in Seed funding led by Foresight Ventures & Folius Ventures.
• Orderly Network raises $5M+ in Strategic funding.
• CrunchDAO raises $3.5M in Seed funding led by Multicoin Capital.
• Gummi raises $2M in Seed funding led by Arrington Capital.
• Goldilocks raises $1.5M in Seed funding led by Hack VC & Shima Capital.
• MyShell raises an undisclosed amount in funding from Binance Labs.
The Degen Farmer
Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!
| PROTOCOL | ASSETS | APY |
|---|---|---|
 Storm Trade (Ton) | USDT | 61.02% |
 Notional V3 (Ethereum) | NUSDC | 35.08% |
.jpg){kind=icon} BFX (Blast Futures) (Blast) | USDB | 30.09% |
 Azuro (Polygon) | USDT | 29.02% |
 Anzen V2 (Ethereum) | SUSDZ | 25.61% |
 Pendle (Arbitrum) | GUSDC | 25.19% |
 Merkl (Arbitrum) | USDEUSDT | 21.34% |
 Extra Finance (Base) | USDZUSDC | 20.97% |
⚫️ Polynomial launches their Superchain |  |
Polynomial, Optimism OG protocol: the team recently launched their own Superchain (ETH L2) - focused on derivatives. Retroactive points for sDAI holders, Instadapp, Polynomial, SNX, milady users 👀.
Retroactive: The Initial Liquidity Event (ILE) is scheduled to go live on August 21st. Until then, there's time to farm points with a boost by depositing assets to the chain. And to claim retroactive allocations if you are eligible.
🪂 Points opportunity 🪂: check out Earndrop's thread with a step by step on how to start farming, risks involved, and withdrawal times.
That’s it for today’s edition! See you soon.
Reply