$EIGEN Launches Non-Transferable Airdrop

Alpha Team
May 10, 2024

🚀 EIGEN Stakedrop Launches Amidst Concerns

Stakedrop and Geoblocking Issues: EigenLayer has initiated the EIGEN token airdrop, termed "stakedrop", which faced backlash for being non-transferable and for geoblocking certain countries.

Pre-Market Trading Insights: Traders on platforms like Aevo are betting on EIGEN's future value, currently trading around $9, despite its non-transferable status at launch.

EigenLayer's DeFi Innovation and Reaction: As a restaking service on Ethereum, EigenLayer raises significant funds and user interest but has to navigate initial criticisms and adapt to community feedback. Read More.

️ On today's Top Picks:

📈 Wells Fargo buys Bitcoin ETF.
🏗️ US Banks test shared-ledger tech.
💰 Tether invests in CityPay.
🛡️ Google releases security updates.

Read time: ⏰ 5 minutes

Crypto News

• ⭐️ Wells Fargo discloses Spot Bitcoin ETF holdings.

• Binance responds to WSJ affirming it does not tolerate market abuse.

• Kraken pushes to dismiss US SEC lawsuit ahead of June hearing.

• US House overturns bill that prevents financial firms from acting as custodians for cryptocurrencies.

• Binance & Kucoin obtain registration with Indian Financial Intelligence Unit.

Alpha

• BounceBit to launch Mainnet on May 13th.

• Puffer launches Mainnet & Chapter 4 of the Crunchy Carrot Quest.

• Parallel Network launches Kelp $rsETH airdrop event.

• Mode teases Staking v2 coming next week.

• Slingshot introduces FLEX, an onchain trading app.

Airdrops

• Weekly Airdrop News & Claims by Earndrop.

• ⭐️ Eigen launches $EIGEN Stakedrop claims for Phase 1 Season 1.

• Blast launches Gold Distribution 3. (15M Gold)

• Holograph reveals $HLG & tokenomics.

• Layer3 introduces $L3 token, tokenomics, & airdrop details.

• ICYMI Orderly Airdrop Strategy by Earndrop.

Finance News

• ⭐️ US Banks test shared-ledger technology for tokenized asset settlements.

• OpenAI to announce Google $GOOG search competitor.

• Sam Altman's company Oklo goes public $OKLO.

Security and Exploits

• Bloom exploited for $540K due to exploit, but has since been recovered.

• ⭐️ Google releases update to patch zero-day flaw affecting Chromium-based browsers.

• Cybersecurity researchers discover new "LLMjacking" attack.

Token Unlocks

• Moonbeam / 3.04M $GLMR / ~$909K / MAY 11
• Aptos / 11.31M $APT / ~$100M / MAY 12

Funding

• ⭐️ CityPay, a digital currency payment solution; raises an undisclosed amount in funding from Tether.

• Seeds Labs, a Web3 game developer; raises $12M in Seed funding.

• Arch Network, a Bitcoin-native application platform; raises $7M in Seed funding led by Multicoin Capital.

• UXUY, a next-gen DEX; raises $7M in Pre-Series A funding.

• Arcium, a parallelized confidential computing network; raises $5.5M in Strategic funding led by Greenfield Capital.

• Zeal, a smart defi wallet; raises $2M in funding from Gnosis.

• Arbelos Markets, a trading firm; raises an undisclosed amount in Seed funding led by Dragonfly.

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
KiloEx (Op_bnb)	USDT	188.68%
Ramses V2 (Arbitrum)	USDCUSDC	93.17%
Abracadabra Spell (Arbitrum)	MIMUSDCUSDT	53.51%
Synthetix V3 (Base)	USDC	48.29%
Avantis (Base)	USDC	39.52%
BFX (Blast Futures) (Blast)	USDB	38.22%
Merkl (Arbitrum)	DAIUSDT	37.83%
Turbos (Sui)	USDTUSDC	36.10%

. . .

Reya: a new L2 with over 200M in liquidity

Airdrop Opportunity 🪂: Reya's LGE is very close, and users that stake can start farming $REYA.

Backed by some of the best: investors include the likes of Coinbase Ventures, Wintermute, Robot Ventures, and more.

Reya Labs (creator of Reya Network) is run by a team of DeFi OGs with multiple successful startups launched in the past, such as Voltz Protocol.

How to get the airdrop? - Users can deposit USDC while the LGE event lasts to get boosted XP. XP is expected to convert into rewards in the future.

👉 Farm $REYA's XP by staking USDC

. . .

That’s it for today’s edition! See you soon.

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