Research Summary
The report covers a range of topics in the cryptocurrency sector, including the launch of various airdrops, the introduction of new funding programs, updates on tokenomics, and the establishment of community governance. Key entities mentioned include ZKSync, LayerZero, Blast, Merlin Chain, Fantom Foundation, Worldcoin, Ethena Labs, ether.fi, Solana Memecoin Slerf, and Notcoin.
Key Takeaways
ZKSync’s Airdrop and Market Performance
- ZKSync’s Airdrop Distribution: ZKSync’s airdrop opened for claiming with listings on Binance, OKX, and Bithumb. Binance announced its decision to distribute 10,500,000 ZK tokens to up to 52,500 eligible users due to community concerns about the ZK token airdrop distribution.
- Market Performance: As of the latest update, ZK is priced at $0.175 with a circulating market cap of $644 million.
LayerZero’s Airdrop and Impact on Arbitrum
- LayerZero’s Airdrop: LayerZero opened its airdrop claim, and its ZRO token was promptly listed on major exchanges such as Binance, OKX, Coinbase, and Upbit. LayerZero introduced a new claim mechanism called “Proof-of-Donation,” requiring users to donate $0.10 in USDC, USDT, or native ETH for each ZRO token claimed.
- Impact on Arbitrum: The mandatory donation requirement for claiming the LayerZero airdrop caused congestion and increased network gas fees on Arbitrum. On June 20th, Arbitrum’s rollup revenue reached $3.43 million, with a net profit of $3.29 million, marking a historic single-day high.
Merlin Chain’s Ecosystem Funding Program
- Merlin’s Adventure: Merlin Chain has announced the launch of its ecosystem funding initiative named Merlin’s Adventure, offering 210 million MERL tokens to support developers driving innovation on Merlin Chain.
Fantom Foundation’s Sonic Labs Innovators Fund
- Sonic Labs Innovators Fund: Fantom Foundation has announced the establishment of the Sonic Labs Innovators Fund, aimed at accelerating the migration of innovative DApps to the Sonic network, with a commitment of up to 200 million FTM tokens.
ENA’s Updated Tokenomics
- ENA Tokenomics: Ethena Labs has released an update on the ENA token economics, introducing ENA and sUSDe re-staking through Symbiotic and LayerZero. Users who receive ENA tokens through airdrops will be required to lock 50% of the receivable ENA amount in Ethena locking, Pendle PT-ENA, or Symbiotic Restaking.
Actionable Insights
- Monitor ZKSync’s Market Performance: Given the recent airdrop and the current market cap of $644 million, it may be beneficial to keep an eye on ZKSync’s market performance.
- Assess Impact of LayerZero’s Airdrop on Arbitrum: The congestion and increased network gas fees on Arbitrum due to LayerZero’s airdrop could have implications for future airdrops and the overall performance of the network.
- Explore Opportunities with Merlin Chain: The launch of Merlin’s Adventure, offering 210 million MERL tokens to support developers, could present opportunities for developers interested in blockchain innovation.
- Research the Potential of Fantom Foundation’s Sonic Labs Innovators Fund: The establishment of the Sonic Labs Innovators Fund, with a commitment of up to 200 million FTM tokens, could accelerate the migration of innovative DApps to the Sonic network.
- Understand ENA’s Updated Tokenomics: The updated tokenomics of ENA, including the requirement for airdrop recipients to lock 50% of the receivable ENA amount, could have implications for the token’s liquidity and overall market performance.
