The Season of Airdrops
You know what’s the coolest thing about crypto – free money aKa airdrops. By definition, airdrops involve crypto projects sending free tokens en masse to their communities in a bid to encourage adoption.
Those who have been involved in crypto for a while might remember the euphoria around the $UNI airdrop (worth $1200 at the time of the airdrop) back in 2020. Well, the bear season is back and it’s time to keep an eye on such massive airdrops.
For example, if you’re an active participant in the Cosmos ecosystem, brace yourself for a series of stakedrops (airdrop for stakers). If you aren’t already, it might be a good time to stake your $ATOM, $OSMO, and $JUNO to qualify for upcoming stakedrops. Here’s a list of all the upcoming stakedrops for Cosmos stakers.
Talking about airdrops, this week's two biggest airdrops are – Terra & Sudoswap.
Terra community has passed the Terra Phoenix Airdrop proposal. With this proposal, 19,504,909 $LUNA will be requested from the Community Pool to execute an airdrop to wallets that did not receive the correct amount at Genesis. To check for eligibility and claim your airdrop, head to https://phoenix-airdrop.terra.money/
On the other hand, Sudoswap, a decentralized NFT marketplace has announced its token $SUDO and a subsequent airdrop for the community. Check out this Twitter thread to check for airdrop eligibility and tokenomics of $SUDO.
Meanwhile, we’ll keep you posted on any upcoming airdrops, so keep an eye out for our newsletter every Wednesday.
This week in web3 Wednesdays:
- 🤯Binance announces to drop trading pairs with stablecoins BUSD, USDC, USDP, and TUSD
- 👌OpenSea says marketplace won’t support forked NFTs post-Merge
- 🆕Helium core team proposes to migrate to Solana
- 📙Learn: How does the EVM work?
- 💡New NFT model: Free to own
🤯Binance announces to drop trading pairs with stablecoins BUSD, USDC, USDP, and TUSD
In the latest announcement, Binance is dropping the trading pairs with four major stablecoins namely BUSD, USDC, USDP, and TUSD.
In order to enhance liquidity and capital-efficiency for users, Binance is introducing BUSD Auto-Conversion for users' existing balances and new deposits of USDC, USDP and TUSD stablecoins at a 1:1 ratio.
With effect from 2022-09-29 03:00 (UTC), users will trade with a consolidated BUSD balance on the Binance Platform that reflects their balances of these four stablecoins (BUSD, USDC, USDP, and TUSD) post-conversion.
Seems like, post this conversion, Binance will list all crypto assets in trading pairs of only two stablecoins USDT & BUSD.
👌OpenSea says marketplace won’t support forked NFTs post-Merge
To avoid any confusion for retail users, OpenSea has announced that the platform will solely be supporting NFTs on the upgraded Ethereum PoS chain.
In an announcement on Twitter, the NFT marketplace said that while their team is not speculating on any potential forks, as it clarified that if there are forked NFTs, they will not reflect on OpenSea as the platform will only support the upgraded chain.
The platform also highlighted that its team is preparing the NFT trading platform for any issues that may arise with the upcoming Ethereum Merge so that the transition period will be smooth.
🆕Helium core team proposes to migrate to Solana
The Helium Network, a decentralized wireless Internet of Things network using the LoRaWAN system, tied to the cryptocurrency Helium Network Token is proposing to migrate away from the project's own blockchain onto Solana, in pursuit of faster transaction speeds, higher uptimes, and more interoperability with other blockchains as key reasons.
In order to scale its network, which would move PoC and Data Transfer Account to Oracles, the core developer team has proposed the selection of a more scalable Layer 1 (“L1”) — specifically, Solana.
The proposal HIP 70 is live for the Helium community to discuss and reach a consensus. Check out the full details about the HIP 70 proposal here.
With this move, the strength of the Solana ecosystem will only grow. As of now, the alt-L1 has already announced Solana Mobile Stack, tying up with Qualcomm, Jump Firedance validators client, and most importantly Solana Spaces locations ready to sell D2C.
📙Learn: How does the EVM work?
Whether it’s about blockchain scalability, cross-chain interoperability, or smart contracts, all conversations often lead to over-reliance on EVM as one of the roadblocks. But what exactly is EVM and how does it work?
Well, we’re here to help. Check out this article which explains all about EVM including the relationship between opcode instructions, gas costs, storage, and the execution environment for your understanding.
💡New NFT model: Free to own
It’s a well-known fact that the value of NFT collections comes majorly from the community behind them, not the art. Also, the strength of a community is derived from something beyond monetary gains. Bored Ape and CryptoPunks, are some of the best examples of powerful communities.
To keep an eye out for the next set of strongest NFT communities, we bring you the alpha – a new web3 model that will change the NFT monetization game forever. One of the best examples of this new free-to-own NFT model is DigiDaigaku.
DigiDaigaku started as a free, stealth mint. This fulfills two objectives:
(a) No whitelists etc that create tiers.
(b) No 'revenue' upfront.
Thus, avoiding scam-like behavior, rug pulls, faux promises, or roadmaps. Check out this Twitter thread to learn more about the free-to-own model.