[PRESS RELEASE – San Francisco, California, December 31st, 2024]
Open (also known as webisOpen on X, collective includes RSS3) is transforming virological research and decentralized science (DeSci) through its innovative Open Virtual Machine (OVM). This technology, integrated with the Compute Wormhole, facilitates the on-chain analysis of genetic similarities between two viruses: SARS-CoV-2 (sequenced in Wuhan, 2019) and SARS-CoV (sequenced in Toronto, 2003).
This analysis is performed fully on-chain using Open’s Open Virtual Machine (OVM) within a Trusted Execution Environment (TEE) (together known as Open’s Compute Wormhole) utilizing and bridging decentralized compute from Hyperbolic Labs, to ensure integrity, immutability, determinism, and resistance to tampering. Additionally, OVM guarantees verifiability through on-chain transactions, promoting transparency and trust in the results.
This demo and experiment of Open Desci Platform Alpha and its record on-chain (on Open Chain) has also been released to the public to showcase the power of OVM to the public. Users can check out this link for more information.
The Research Challenge
Decoding the genetic fingerprints of viruses has traditionally required expensive supercomputers and extensive infrastructure—resources often out of reach for many researchers. For years, virologists have been constrained by financial and logistical challenges, forcing them to focus more on acquiring equipment than advancing scientific discovery. Moreover, the reliance on private or centralized computing resources has limited peer reviews, making it difficult to reproduce results and raising concerns about the integrity, reliability, and trustworthiness of the findings.
Entering the OVM Revolution
The Open Virtual Machine (OVM) offers a high-performance, decentralized, and verifiable compute layer, designed to democratize access to advanced computational resources. Its implementation begins with a demonstration and experimental applications on Open Chain, showcasing its capabilities in bridging decentralized computation with the immutability of blockchain technology. By bridging powerful decentralized computation with blockchain immutability, OVM is a Data Wormhole for innovations like verifiable and transparent AI and DeSci. The Open collective includes @RSS3_, @_RSSHub, and @openinfo.
RSS3 is a decentralized network indexing and structuring data, delivering accessible and valuable Open Information to the next X (prev. Twitter), Google, OpenAI, and beyondfor AI and decentralized science (also known as DeSci).
Key Features of OVM in Decentralized Science
Reproducibility Guaranteed: Every computation is verifiable and reproducible, a critical feature for peer-reviewed scientific research. Secure Data Processing: A built-in Trusted Execution Environment (TEE) safeguards sensitive data, ensuring integrity and tamper resistance throughout the computational process. Effortless Genomic Analysis: Researchers can now compare viral genomes, such as [SARS-CoV-2] and [SARS-Tor-2], in a decentralized and democratized manner, without permission and access to exclusive and expensive hardware. These capabilities highlight the expanding potential of OVM in decentralized science (DeSci), paving the way for further innovations in transparent and democratized research.
The Bridge Between Blockchain and Beyond
OVM’s architecture introduces a framework that integrates blockchain’s on-chain immutability with scalable, decentralized computing resources, including GPU support for demanding computational tasks. This design enables efficient execution of compute-intensive applications, such as:
AI and Machine Learning Training DeFi Risk Assessments and Financial Modeling Real-Time DeSci, Gaming, and Metaverse Simulations Whether it’s simulating virus interactions, optimizing decentralized finance protocols, or powering the next-gen virtual worlds, OVM provides immutable, verifiable, and transparent computational solutions. These advanced capabilities demonstrate the potential of decentralized systems to address complex, real-world challenges.
Democratizing Research, Unlocking Discovery
OVM enables researchers worldwide to access advanced computational resources without reliance on costly infrastructure. By prioritizing accessibility, the platform emphasizes scientific innovation over financial constraints. This approach fosters global collaboration, empowering researchers to address critical challenges such as pandemics and climate change.
Open and Modular by Design
OVM’s modular architecture allows decentralized applications to tap into scalable computing power through partnerships with decentralized providers like Hyperbolic, Gensyn.ai, and Aethir Cloud, or virtually anyone with spare computational resources. This design supports the creation of an open and transparent ecosystem for research and development, accessible globally and at any time.
Exploring OVM-Powered Genomic Analysis (Coming Soon on Mainnet)
The OVM-powered infrastructure will enable users to analyze the genetic sequences of:
SARS-CoV-2 Genome SARS-Tor-2 Genome The Open DeSci team is preparing to release the Alpha version of its demo and experimental platform. This release will showcase the capabilities of OVM in performing DNA sequence alignment, providing a practical example of its potential in decentralized science.
The Future of Compute is Open
Available now on Open Chain for demo purposes, with support for more platforms on the horizon, OVM is ushering in a new era of decentralized science. By bridging the gap between blockchain and advanced decentralized computation, OVM unlocks the true potential of the Open Web and DeSci, paving the way for breakthroughs in Science, AI, and beyond.
OVM removes infrastructure barriers, enabling scientific progress to be driven by creativity and innovation. This approach represents a significant step forward in the evolution of open science.
About Open (aka webisOpen on X, coll. Incl. RSS3)
Open is a series of endeavors aimed at propelling the Open Web forward. Collectively, Open is the Data and Compute Wormhole for innovations like verifiable and transparent AI and DeSci. The Open collective includes @RSS3_ @_RSSHub & @openinfo_. webisOpen.
RSS3 is a decentralized network indexing and structuring data, delivering accessible and valuable Open Information to the next X (prev. Twitter), Google, OpenAI, and beyond.
[PRESS RELEASE – San Francisco, California, January 8th, 2025]
RSS3 has introduced a comprehensive Web3 dataset on Hugging Face, serving as a valuable resource for AI applications. This decentralized and verifiable dataset transforms machine learning by granting developers open access to structured data derived from platforms such as Farcaster and Lens, fundamentally reshaping the construction of AI and decentralized applications.
New Step in Web3 AI
The RSS3-powered dataset offers a verifiable solution for parsing, transforming, and analyzing decentralized Web3 data. By leveraging RSS3 Nodes for content indexing, the dataset aims to guarantee ownership integrity and transparency. This innovation allows developers and researchers to train models, build recommendation systems, and power decentralized applications without facing API rate limits or data access barriers.
The Backbone of Machine Learning
Structured Data Designed with machine learning applications in mind, the dataset incorporates several components:
Handle: Author profiles from platforms like Farcaster and Lens. Body: The main content of posts. Media: Links to hosted media files categorized by MIME type. Profile & Publication IDs: Unique identifiers enabling granular data tracking. Timestamps: Real-time accuracy for publication or indexing dates. This streamlined structure facilitates effortless integration into machine learning pipelines, providing immediate value for training adaptive AI models.
Fueling Verifiable AI The effectiveness of AI depends on diverse, open datasets. By sourcing data from decentralized platforms, the RSS3 dataset provides the breadth and depth required to train unbiased and contextually aware models. By capturing a wide spectrum of social interactions, the dataset enables the development of safer and more inclusive AI systems.
Joining the Decentralized Data Revolution RSS3’s collaboration with Hugging Face highlights its dedication to advancing innovation through open, decentralized data. RSS3 offers SDKs, frameworks, and grants via the Open Information Initiative, empowering developers to build the next generation of AI and Open Web applications.
About RSS3
The Largest AI Open Data Network Since its inception in 2021, RSS3 has solidified its role as a leader in decentralized data, operating the world’s largest Open Web network. More than 80 RSS3 Nodes, including one operated by Google, collaborate to source and index decentralized content while ensuring verifiability and transparency. By eliminating traditional API constraints, RSS3 delivers bulk datasets, making Web3 and Open Data readily accessible for AI development pipelines.
Users can explore the dataset or start building with RSS3: docs.rss3.io. Users can access the first Web3 dataset: huggingface.co/high_quality_open_web_content. Users can apply for an Open Information Grant: openinformation.io/grant.
Blockchain-based game and DeFi protocol Aavegotchi (GHST) nabbed significant investor attention on Monday as its price rocketed nearly 37%. Notably, with the crypto exchange behemoth Binance extending support to the token, market sentiments for the Web3 gaming and Defi protocol have turned highly bullish. Recently, the exchange announced the launch of futures listing for GHST, following which the token’s price surged remarkably.
Binance Launches Aavegotchi (GHST) USD-Margined Perpetual Contract On September 23, Binance officially announced the launch of the Aavegotchi (GHST) USD-Margined perpetual contract (GHSTUSDT) in a release. As per the announcement, the perpetual contract will go live today at 13 UTC. Users on the platform can enjoy up to 75x leverage trading the coin. Meanwhile, the underlying asset for the contract remains Aavegotchi.
The capped funding rate set by the exchange was at +2.00% / -2.00%. However, the exchange also clarified that the contract remains subject to changes based on market risk conditions. Users may see changes in the funding fee, tick size, maximum leverage, initial margin, and maintenance margin ahead. Nevertheless, the announcement has set off waves for the gaming and Defi protocol as its price soared roughly 37% in light of the Binance listing.
Aavegotchi boasts itself as a project that has adorable ghosts on the Ethereum blockchain, each with a unique set of traits. The ghosts also contain crypto tokens, represented by collateral symbols on their heads.
Token Price Shoots Up 37% Simultaneously, GHST price surged approximately 37% in the past 24 hours to reach $1.201. The coin’s intraday low and high were recorded as $0.8713 and $1.21, respectively. Traders appear to have reacted positively to the listing announcement as the coin’s intraday trading volume surged by a staggering 1103% to $17,757,512.
It’s worth noting that today’s price upswing primarily falls in line with the abovementioned futures listing, as also seen with other tokens previously. CoinGape Media earlier reported that TON-based Catizen (CATI) price shot up over 30% upon listing on the same CEX.
Similarly, even the price of the Solana coin FIDA experienced significant gains with its futures listing on the exchange. Altogether, these past chronicles rationalize Aavegotchi (GHST) price upswing today. Crypto market enthusiasts continue to monitor the coin for further price action shifts.
The token of the blockchain-based game and DeFi protocol Aavegotchi (GHST) experienced a remarkable increase of approximately 37% on Monday, following an announcement of support from Binance. The leading cryptocurrency exchange revealed its plans to launch futures contracts for the token, resulting in a response similar to that observed with various altcoins. The listing of futures contracts typically indicates increased liquidity, demand, and consequently, volatility.
On September 23, Binance officially announced the launch of the Aavegotchi (GHST) perpetual contract (GHSTUSDT). As reported in a last-minute update, trading commenced today. Users can leverage up to 75 times on the token. In light of this announcement, the token price surged by approximately 37%, significantly impacting the protocol.
Aavegotchi introduces a project where adorable ghosts with unique characteristics exist on the Ethereum $1,623 network. These ghosts contain cryptocurrency tokens symbolizing collateral. In essence, it is a novel experimental project that combines DeFi and NFTs around cryptocurrencies.
GHST Token RisesThe price of GHST rose by about 37% within the last 24 hours, reaching $1.201. The coin recorded intraday low and high points of $0.8713 and $1.21, respectively. Traders responded positively to the announcement, increasing the coin’s trading volume by 1103% to $17,757,512.
Today’s price increase appears directly linked to the newly listed perpetual contracts; similar instances have been noted with other tokens previously. For instance, the price of the TON-based Catizen (CATI) surged by over 30% upon its listing on the same exchange.
Likewise, the altcoin FIDA within the Solana $68 ecosystem saw significant gains due to the futures contract listing on the exchange. These past examples rationalize today’s price increase for Aavegotchi (GHST). Cryptocurrency enthusiasts continue to monitor the coin’s future price movements.
The listing of GHST Coin on the Binance exchange and the introduction of new futures contracts have led to a substantial price increase for the token. This development once again highlights the impact of major exchange listings on projects within the cryptocurrency market. Investors should exercise caution regarding price movements triggered by such announcements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Crypto game Aavegotchi is set to migrate from one Ethereum scaling network to another following a successful community vote—and in the process, another gaming-centric network is set to bite the dust.
On Tuesday, a DAO vote for Aavegotchi to migrate from Ethereum sidechain network Polygon to Coinbase's Base layer-2 network reached quorum. The proposal, written by Aavegotchi developer Pixelcraft Studios, suggested that the game "perform a full, 'all-in, no-looking-back' migration to Base."
Aavegotchi is one of the longest-running projects in the crypto gaming space, with the play-to-earn virtual pet game first announced in 2020. The game's GHST token launched later that year, and character NFTs dropped in early 2021.
But the crypto gaming space has changed dramatically in the five years since, with play-to-earn gaming experiencing a massive surge and crash in 2021 and 2022 centered around Axie Infinity, while a resurgence in crypto gaming sentiment last year has led to cratering token valuations in recent months amid market shifts.
Aavegotchi attempted to pivot last year with the launch of its own layer-3 gaming chain called Geist, which would be powered in part by technology from both Arbitrum and Base. The network launched with a "member's only" model that would require fees, but would then reward players as a result.
But now Geist will be "sunsetted" as a result of the vote, and according to Aavegotchi founder CoderDan, the move was prompted in part by what he saw as a lack of gaming traction on Polygon, as well as stagnant or declining DeFi activity. He added that spinning up another layer-3 chain was unlikely to benefit Aavegotchi at this time.
"Although Geist is a good idea in theory for the Aavegotchi ecosystem," he wrote, "the benefits of migrating to our own L3 in this current environment are outweighed by the downsides—namely isolation, onboarding friction, and costs of running our own chain, including developer tools, in addition to the rollup itself."
According to the proposal, the migration is expected to take 4-6 weeks, due to preparation work that had already been done for the Geist launch. All existing NFT assets will be cloned and re-minted on Base, with the original Polygon assets "frozen and not usable" as the new versions take over.
Aavegotchi's GHST token is down 4% on the day and 28% on the week, currently priced at $0.438 per data from CoinGecko. The downswing comes amid a highly volatile market of late—one that has not been kind to the vast majority of gaming tokens.
Numerous gaming chains launched in 2024, but already a few have folded. The makers of the Minecraft-like Hytopia revealed plans in February to shutter their Hychain network, while Treasure aims to "retire" its Treasure Chain following a recent team downsizing and budget crisis. Xterio Chain is also shutting down, with all assets being migrated to BNB Chain.
But the trend hasn't completely subsided. Earlier Tuesday, iCandy Interactive and ZKsync builder Matter Labs debuted ZKcandy, their new Ethereum scaling network focused on mobile gaming.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In This Article Aavegotchi Founder Made The Proposal To Leave Polygon And Go "All-In On Base"Polygon Vs. Base - Why Did Aavegotchi Leave One For The Other?BONUS: Solaxy (SOLX) Is The First Native L2 On Solana And Just Hit $29.5m In Presale Funding Aavegotchi, an NFT protocol with a focus on Web3 gaming, has opted to abandon blockchain network Polygon and switch to Base, a Coinbase-linked Ethereum layer-2 chain, according to the results of an on-chain vote.
Yesterday (April 8), Aavegotchi’s community members voted 93.25% in favor of a proposal to “Make Aavegotchi Based Again” by shutting down the protocol’s smart contracts on Polygon (POL) and re-deploying on Base.
Let’s Make Aavegotchi Based Again https://t.co/nIoFseAsVi pic.twitter.com/X8UQQXmPnp
— Aavegotchi 👻 (@aavegotchi) April 9, 2025
Aavegotchi Founder Made The Proposal To Leave Polygon And Go “All-In On Base” @coderdannn, the Aavegotchi founder, stated a key reason for the proposal was the competitiveness within the L2 ecosystem and that Polygon “has not shipped any significant updates or features to PoS to enable better ecosystem coherence or discovery for gaming.”
From the proposal back in February, @coderdannn said, “Given our close relationship with the Base team, as well as recent developments in the Base ecosystem, we believe the most +EV move for Aavegotchi (for this cycle, at least) is to sunset Geist (Polygon deployment) and go all-in on Base.”
At the time, Dan also confirmed that Pixelcraft Studios, the developer behind Aavegotchi, “recently made significant team cuts to reduce our burn and extend the runway.”
DISCOVER: CoinPoker Drop CoinMasters Tournament With World Series Event Package and $250K USDT Prizes
Memecoins, GameFi, and NFTs have been some of the hardest-hit crypto sectors over the past 12 months. This situation has only worsened in the last week due to President Donald Trump’s plan to impose sweeping tariffs on most US imports.
The migration to Base from Polygon reflects Aavegotchi’s efforts to adapt to the market downturn by switching to a prominent L2 and leaving one that isn’t making any waves within the Web3 gaming sector.
Base also has the benefit of being launched by Coinbase in 2023. Coinbase is the largest cryptocurrency in the US by trading volume and second in the world behind Binance.
Polygon Vs. Base – Why Did Aavegotchi Leave One For The Other?
(DEFILLAMA)
Aavegotchi’s decision to leave Polygon comes as it faces ongoing challenges in maintaining users and total value locked (TVL) in the face of competition from Ethereum layer-2 chains, such as Arbitrum and Base.
Polygon was once the go-to L2 solution and in 2021 its TVL went as high $10 billion. As of today (April 8), DefiLlama shows its TVL at $716 million. This marks a huge fall from grace while both Base and Arbitrum hold $2.59b and $2b, respectively.
Due to its harsh fall as a top L2 solution, Polygon has fallen outside the top 10 chains and currently ranks 13th, behind Aptos in 12th.
TVL is a key metric used to assess the strength of a blockchain’s DeFi (decentralized finance) sector. It measures the total amount of assets deposited in a protocol, typically for yield-bearing incentives.
It reflects user trust and adoption but also serves as an indicator of available liquidity across the network. Typically, chains with higher TVL are the most popular and widely used. This is evidenced by the top five chains by TVL, which include Ethereum, Solana, BNB Smart Chain, Bitcoin, and Tron.
Aavegotchi is an OG in the web3 gaming space, launching in 20202 via a collaboration between Pixelcraft Studios and Aave, the leading decentralized lending protocol with over $16 billion TVL.
It functions as a blockchain-based game and as a DeFi protocol for staking and NFTs. Users can sell, buy, and upgrade their Gotchi while earning the GHST token and interest based on their activities and staking.
BONUS: Solaxy (SOLX) Is The First Native L2 On Solana And Just Hit $29.5m In Presale Funding Regarding L2’s, the aforementioned Ethereum ecosystem of sidechains is already established as a multi-billion-dollar sector. Solaxy (SOLX) is targeting a niche in the market as the only native L2 solution on Solana.
By introducing a sidechain for Solana, users will experience fewer failed transactions and enhanced speed while maintaining the low cost and security of Solana’s mainnet.
As for developers, it brings confidence in building at scale. And for Solana as a whole, Solaxy could be the missing piece needed to finally become the ‘Ethereum Killer’ it has been touted as since its launch in March 2020.
The SOLX presale offers an opportunity for early positioning. Over $29.5 million has already been secured by eager investors. It represents a perfect opportunity, especially for those who missed Solana when it was trading under $1 in 2020.
To take part in the presale, visit the official Solaxy website and make a purchase using SOL, ETH, USDT, USDC, BNB, or even a bank card.
You can also connect with a supported crypto wallet like Best Wallet to store and view your $SOLX tokens before launch.
Follow Solaxy on X to stay updated, join the growing community on Telegram, and participate in what could be Solana’s next big breakthrough.
Visit The Solaxy Website To Find Out More
EXPLORE: 20+ Next Crypto to Explode in 2025
Join The 99Bitcoins News Discord Here For The Latest Market Updates
Aave-backed NFT gaming project Aavegotchi leaves Polygon to build on Base chain Aavegotchi founder cites close relationship with Base and its inclusion of GameFi as a key reason for leaving Polygon Base is the 6th largest chain by TVL, with over $2.5bn, while Polygon has fallen to 13th with just $716m Solaxy (SOLX) aims to corner a niche market as the first native L2 on Solana #Presales
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Alex Ioannou
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Alex is a seasoned cryptocurrency trader and market analyst with over seven years of active experience in the digital asset space. Since entering the markets in 2017, Alex has specialized in identifying emerging "meta" trends and high-volatility narratives. Notably, Alex... Read More
The Aavegotchi game is moving to Coinbase's Base.Aavegotchi's founder cites a lack of support from Polygon.Polygon says Aavegotchi received a grant ahead of the migration proposal.Aavegotchi, the crypto game, will leave the Polygon blockchain after members voted overwhelmingly on Tuesday to migrate to Coinbase’s Base blockchain.
The open source game involves players using so-called Aavegotchis, which are like digital customisable versions of the Japanese Tamagotchi toys, to earn valuable tokens.
The Aavegotchi community, including the game’s founder Daniel Mathieu, say they are unhappy with Polygon’s lack of support for crypto games.
“Polygon has not shipped any significant updates or features to PoS to enable better ecosystem coherence or discovery for gaming,” Mathieu, who proposed the migration to Base, said in an X post.
A whopping 93% of the game’s community voted in favour of the move.
It’s another vote of confidence in Base, which under Coinbase’s stewardship has grown into the biggest Ethereum layer 2 with $3.6 billion in deposits, and the sixth biggest blockchain overall, since its 2023 launch.
Hello! This chart will be available in a few moments
DeFi deposits to Base have soared to over $3.6 billion since its 2023 launch.But for Polygon, it’s yet another setback as the blockchain struggles to stay relevant in an increasingly competitive industry.
Polygon’s DeFi deposits, which peaked at $12 billion in 2021, have shrunk 14 times to just $850 million as it loses ground to newer competitors like Base and Arbitrum.
A spokesperson for Polygon told DL News that it respected Aavegotchi’s decision, and that the gaming venture may have received a $500,000 to $1 million grant from Base prior to announcing the migration.
DL News could not confirm the grant or its details. Mathieu did not immediately respond to a request for comment.
Aavegotchi is a somewhat niche game, but it’s loved by many DeFi diehards because of its connection to top DeFi lender Aave. Aside from riffing on Aave’s branding, the game counts the lending protocol’s founder Stani Kulechov among its advisors.
Mass migrationBase wasn’t the only blockchain Aavegotchi considered for its migration. Mathieu also looked at moving the game to the Arbitrum or Ronin blockchains.
He said he ultimately decided on Base due to the Aavegotchi team’s close relationship with the Base team, and the blockchain’s strong ties to Coinbase and crypto social media platform Farcaster.
Now the Aavegotchi community has endorsed the move, work can begin on the migration.
The plan is to permanently lock the Aavegotchi smart contracts on Polygon, then clone all contracts and assets and deploy them on Base, a process that should take four to six weeks.
Mathieu said much of the migration work has already been done due to a previous plan to move the game to its own dedicated layer 3 blockchain.
It’s not the first falling out between Aave’s community and Polygon.
In December, two major Aave DAO delegates told DL News they would vote to shutter the lending protocol’s Polygon version over a proposal to invest $1 billion in idle crypto on the Polygon-Ethereum bridge with a competitor.
Polygon Labs CEO Marc Boiron told DL News at the time that the proposal was in a preliminary stage and many months from becoming a reality, and characterised the Aave delegates’ proposed response as “anti-competitive.”
Aave currently accounts for around 38% of all DeFi deposits on the Polygon blockchain.
Tim Craig is DL News’ Edinburgh-based DeFi Correspondent. Reach out with tips at [email protected].
The well-known gaming project Aavegotchi in the cryptocurrency world is preparing for a significant shift in its infrastructure. Following a community vote, the project will transition from the Polygon network to the Base network supported by Coinbase. This crucial decision reflects Aavegotchi’s aim to reach a broader user base and reduce operational challenges. Additionally, the termination of the project’s short-lived sidechain, Geist, is part of this transition process.
Transition to Base Network and NFT RestructuringThe Aavegotchi development team announced that the entire platform will move to the Base network, backed by a new proposal approved by the DAO. This transition is seen as impactful not only from a technical infrastructure standpoint but also in terms of the project’s overall dynamics. According to the plans, all NFTs currently on the Polygon network will be cloned and produced on Base within four to six weeks. Meanwhile, assets on the old network will be frozen and rendered unusable.
This transformation process requires users to restructure their assets in their wallets and closely monitor how the project will operate on the new platform. Despite uncertainties for investors, the development team is committed to conducting the process transparently. This transition, considered a significant milestone for Aavegotchi, also aims to reduce the project’s technical debt and lighten operational burdens.
Increasing Industry Competition and Strategic DirectionAmid recent chain closures and network changes in the cryptocurrency market, Aavegotchi’s move appears to be part of a broader industry trend. Particularly, GameFi projects are striving to enhance their sustainability by shifting to faster, more visible, and scalable networks. With the Base network, Aavegotchi is expected to reach a wider user base and take advantage of the benefits offered by Coinbase’s infrastructure.
According to co-founder CoderDan, “While Geist was a good idea in theory, the disadvantages of using our own L3 chain outweigh the advantages in the current environment.” These words reflect a vision questioning Aavegotchi’s previous chain strategy and seeking clearer steps for the future. The project aims to not only keep pace with technological advancements but also enhance its competitiveness by adapting to the rapid transformation in the industry.
Launched in 2020, Aavegotchi started operating before competitors like Axie Infinity and built a loyal community with its NFT-based gaming experience. However, technical challenges and limited visibility over time led the project to seek different solutions. With the new network transition, the aim is to overcome these issues and achieve a more flexible structure for the project.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
GBM, the auction protocol reinventing how value is distributed onchain, has announced the launch of its inaugural Auction Festival, a multi-month celebration of auctions, rewards and community participation. The festival kicks off in partnership with leading Web 3.0 names, including The Sandbox, Aavegotchi, Unstoppable Domains, Song a Day, Vision.io and more – all showcasing the power of GBM’s proprietary win-win auction model, where every bidder gets rewarded, not just the winner.
This event marks the first phase of GBM’s full protocol launch and upcoming token release.
Alongside the auctions, participants can engage in quests, earn incentives and unlock exclusive rewards, all designed to showcase GBM’s next-generation auction mechanics ahead of its full protocol launch.
A new standard for onchain auctions Traditional auctions reward only the highest bidder, leaving everyone else with nothing, despite shared exertion in their time, capital and interest.
This is a zero-sum model that creates friction, fosters sniping and kills genuine price discovery, often leading to both sides being disenfranchised.
This winner-takes-all model is broken, and GBM introduces a paradigm shift with its win-win model.
With the GBM auction, outbid participants receive their full bid back along with an incentive, turning participation into a rewarding act.
This flips the traditional format on its head, creating a dynamic, trustless, high-engagement environment where competition drives true market discovery, not manipulation or luck.
Already, several leading Web 3.0 projects have embraced GBM’s win-win model for its transparency, flexibility and ability to engage communities without extractive mechanics.
Sandy Carter, COO of Unstoppable Domains, said,
“We’re thrilled to join the upcoming Auction Festival and bring our Web 3.0 domains to the GBM auction platform.
“This innovative win-win auction model makes Web 3.0 domains more accessible and engaging for everyone – from first-time buyers to seasoned collectors.”
Sébastien Borget, co-founder and COO of The Sandbox, said,
“GBM auctions have introduced a new layer of excitement and strategy to LAND sales in The Sandbox metaverse.
“Our community is more engaged than ever, bidding on prized virtual LAND near their favorite brands and celebrities.
“Even those who don’t win walk away rewarded, turning every bid into a fun and rewarding experience.
“Bidding has become thrilling, fair and a new way to earn SAND along the way.”
For GBM, the Auction Festival is a milestone in the protocol’s evolution.
Hugo McDonaugh, co-founder and CEO of GBM, said,
“The GBM Auction Festival is our way of showing people what a modern auction should feel like – fun, fair and built around rewarding participation.
“Bidders get rewarded for their role in discovering the true market value of the seller’s assets, resulting in an outcome where everybody wins.”
A festival that rewards participation The Auction Festival will run from late June through to early September, bringing together partner-led auctions, community quests and protocol-wide incentives.
Highlights include the following.
Live partner auctions, including but not limited to – Aavegotchi, Unstoppable Domains, The Sandbox and Freename Participation incentives for all bidders – not just winners Community quests and tiered engagement rewards Giveaways, competitions and community events The festival is also a gateway to deeper protocol participation.
Through the festival and the GBM community program, users can earn points for bidding, selling, completing quests, collecting trophies, badges, NFTs and other rewards.
These incentives ultimately lead to a share of the GBM token when it’s launched.
Learn more about the GBM Protocol and the Auction Festival The Auction Festival officially begins on June 30, 2025.
Users can do the following.
Learn more about the festival and the GBM protocol here. Join the community here. Follow for updates here. About GBM GBM is the auction protocol redefining how value is distributed onchain.
At the heart of GBM is its innovative win-win auction model, which rewards every participant, not just the winner. This sets a new standard for price discovery and value alignment across Web 3.0.
To date, GBM has powered over $200 million in bidding volume and distributed over $6 million in rewards to bidders, proving its model at scale.
Trusted by top Web 3.0 ecosystems including The Sandbox, Aavegotchi and Unstoppable Domains, GBM is the next-generation auction layer for crypto-native platforms – making auctions more transparent, engaging and fair for everyone.
For more information, users can visit here.
Contact Jake Scott, head of marketing at GBM Auctions
GBM, the auction protocol reinventing how value is distributed onchain, has announced the launch of its inaugural Auction Festival, a multi-month celebration of auctions, rewards, and community participation.
The Festival kicks off in partnership with leading Web3 names, including The Sandbox, Aavegotchi, Unstoppable Domains, Song a Day, Vision.io, and more, all showcasing the power of GBM’s proprietary Win-Win auction model, where every bidder gets rewarded, not just the winner.
This event marks the first phase of GBM’s full protocol launch and upcoming token release. Alongside the auctions, participants can engage in quests, earn incentives, and unlock exclusive rewards, all designed to showcase GBM’s next-generation auction mechanics ahead of its full protocol launch.
A New Standard for Onchain Auctions
Traditional auctions reward only the highest bidder, leaving everyone else with nothing, despite shared exertion in their time, capital, and interest. This is a zero-sum model that creates friction, fosters sniping, and kills genuine price discovery, often leading to both sides being disenfranchised. This winner-takes-all model is broken, and GBM introduces a paradigm shift with its Win-Win model.
With the GBM auction, outbid participants receive their full bid back along with an incentive, turning participation into a rewarding act. This flips the traditional format on its head, creating a dynamic, trustless, high-engagement environment where competition drives true market discovery, not manipulation or luck.
Already, several leading Web3 projects have embraced GBM’s Win-Win model for its transparency, flexibility, and ability to engage communities without extractive mechanics.
“We’re thrilled to join the upcoming Auction Festival and bring our Web3 domains to the GBM auction platform. This innovative Win-Win auction model makes Web3 domains more accessible and engaging for everyone — from first-time buyers to seasoned collectors.’’ – Sandy Carter, COO, Unstoppable Domains
“GBM auctions have introduced a new layer of excitement and strategy to LAND sales in The Sandbox Metaverse. Our community is more engaged than ever, bidding on prized virtual LAND near their favourite brands and celebrities. Even those who don’t win walk away rewarded, turning every bid into a fun and rewarding experience. Bidding has become thrilling, fair, and a new way to earn $SAND along the way.” – Sébastien Borget, Co-Founder & COO, The Sandbox
For GBM, The Auction Festival is a milestone in the protocol’s evolution.
“The GBM Auction Festival is our way of showing people what a modern auction should feel like – fun, fair, and built around rewarding participation. Bidders get rewarded for their role in discovering the true market value of the seller’s assets, resulting in an outcome where everybody wins.” – Hugo McDonaugh, Co-Founder & CEO, GBM
A Festival That Rewards Participation
The Auction Festival will run from late June through to early September, bringing together partner-led auctions, community quests, and protocol-wide incentives. Highlights include:
Live partner auctions, including but not limited to: Aavegotchi, Unstoppable Domains, The Sandbox, and Freename. Participation incentives for all bidders, not just winners. Community quests and tiered engagement rewards. Giveaways, competitions, and community events. The Festival is also a gateway to deeper protocol participation. Through the Festival and the GBM Community Programme, users can earn points for bidding, selling, completing quests, collecting trophies, badges, NFTs, and other rewards. These incentives ultimately lead to a share of the GBM token when it’s launched.
To learn more about the GBM Protocol and the Auction Festival
The Auction Festival officially begins on the 30th June 2025.
Users can:
Learn more about the Festival and the GBM protocol here: https://docs.gbm.auction/ Join the community here: https://discord.gg/gbmauction Follow for updates here: https://x.com/GBMauction About GBM
GBM is the auction protocol redefining how value is distributed onchain. At the heart of GBM is its innovative Win-Win auction model, which rewards every participant, not just the winner. This sets a new standard for price discovery and value alignment across Web3.
To date, GBM has powered $200M+ in bidding volume and distributed over $6M in rewards to bidders, proving its model at scale.
Trusted by top Web3 ecosystems including The Sandbox, Aavegotchi, and Unstoppable Domains, GBM is the next-generation auction layer for crypto-native platforms – making auctions more transparent, engaging, and fair for everyone.
For more information, users can visit: https://web3.gbm.auction
GBM, the auction protocol reinventing how value is distributed onchain, has announced the launch of its inaugural Auction Festival, a multi-month celebration of auctions, rewards, and community participation.
The Festival kicks off in partnership with leading Web3 names, including The Sandbox, Aavegotchi, Unstoppable Domains, Song a Day, Vision.io, and more, all showcasing the power of GBM’s proprietary Win-Win auction model, where every bidder gets rewarded, not just the winner.
This event marks the first phase of GBM’s full protocol launch and upcoming token release. Alongside the auctions, participants can engage in quests, earn incentives, and unlock exclusive rewards, all designed to showcase GBM’s next-generation auction mechanics ahead of its full protocol launch.
A New Standard for Onchain Auctions
Traditional auctions reward only the highest bidder, leaving everyone else with nothing, despite shared exertion in their time, capital, and interest. This is a zero-sum model that creates friction, fosters sniping, and kills genuine price discovery, often leading to both sides being disenfranchised. This winner-takes-all model is broken, and GBM introduces a paradigm shift with its Win-Win model.
With the GBM auction, outbid participants receive their full bid back along with an incentive, turning participation into a rewarding act. This flips the traditional format on its head, creating a dynamic, trustless, high-engagement environment where competition drives true market discovery, not manipulation or luck.
Already, several leading Web3 projects have embraced GBM’s Win-Win model for its transparency, flexibility, and ability to engage communities without extractive mechanics.
“We’re thrilled to join the upcoming Auction Festival and bring our Web3 domains to the GBM auction platform. This innovative Win-Win auction model makes Web3 domains more accessible and engaging for everyone — from first-time buyers to seasoned collectors.’’ – Sandy Carter, COO, Unstoppable Domains
“GBM auctions have introduced a new layer of excitement and strategy to LAND sales in The Sandbox Metaverse. Our community is more engaged than ever, bidding on prized virtual LAND near their favourite brands and celebrities. Even those who don’t win walk away rewarded, turning every bid into a fun and rewarding experience. Bidding has become thrilling, fair, and a new way to earn $SAND along the way.” – Sébastien Borget, Co-Founder & COO, The Sandbox
For GBM, The Auction Festival is a milestone in the protocol’s evolution.
“The GBM Auction Festival is our way of showing people what a modern auction should feel like – fun, fair, and built around rewarding participation. Bidders get rewarded for their role in discovering the true market value of the seller’s assets, resulting in an outcome where everybody wins.” – Hugo McDonaugh, Co-Founder & CEO, GBM
A Festival That Rewards Participation
The Auction Festival will run from late June through to early September, bringing together partner-led auctions, community quests, and protocol-wide incentives. Highlights include:
Live partner auctions, including but not limited to: Aavegotchi, Unstoppable Domains, The Sandbox, and Freename. Participation incentives for all bidders, not just winners. Community quests and tiered engagement rewards. Giveaways, competitions, and community events. The Festival is also a gateway to deeper protocol participation. Through the Festival and the GBM Community Programme, users can earn points for bidding, selling, completing quests, collecting trophies, badges, NFTs, and other rewards. These incentives ultimately lead to a share of the GBM token when it’s launched.
To learn more about the GBM Protocol and the Auction Festival
The Auction Festival officially begins on the 30th June 2025.
Users can:
Learn more about the Festival and the GBM protocol here: https://docs.gbm.auction/ Join the community here: https://discord.gg/gbmauction Follow for updates here: https://x.com/GBMauction About GBM
GBM is the auction protocol redefining how value is distributed onchain. At the heart of GBM is its innovative Win-Win auction model, which rewards every participant, not just the winner. This sets a new standard for price discovery and value alignment across Web3.
To date, GBM has powered $200M+ in bidding volume and distributed over $6M in rewards to bidders, proving its model at scale.
Trusted by top Web3 ecosystems including The Sandbox, Aavegotchi, and Unstoppable Domains, GBM is the next-generation auction layer for crypto-native platforms – making auctions more transparent, engaging, and fair for everyone.
For more information, users can visit: https://web3.gbm.auction
GBM, the auction protocol reinventing how value is distributed onchain, has announced the launch of its inaugural Auction Festival, a multi-month celebration of auctions, rewards, and community participation.
The Festival kicks off in partnership with leading Web3 names, including The Sandbox, Aavegotchi, Unstoppable Domains, Song a Day, Vision.io, and more, all showcasing the power of GBM’s proprietary Win-Win auction model, where every bidder gets rewarded, not just the winner.
This event marks the first phase of GBM’s full protocol launch and upcoming token release. Alongside the auctions, participants can engage in quests, earn incentives, and unlock exclusive rewards, all designed to showcase GBM’s next-generation auction mechanics ahead of its full protocol launch.
A New Standard for Onchain Auctions
Traditional auctions reward only the highest bidder, leaving everyone else with nothing, despite shared exertion in their time, capital, and interest. This is a zero-sum model that creates friction, fosters sniping, and kills genuine price discovery, often leading to both sides being disenfranchised. This winner-takes-all model is broken, and GBM introduces a paradigm shift with its Win-Win model.
With the GBM auction, outbid participants receive their full bid back along with an incentive, turning participation into a rewarding act. This flips the traditional format on its head, creating a dynamic, trustless, high-engagement environment where competition drives true market discovery, not manipulation or luck.
Already, several leading Web3 projects have embraced GBM’s Win-Win model for its transparency, flexibility, and ability to engage communities without extractive mechanics.
“We’re thrilled to join the upcoming Auction Festival and bring our Web3 domains to the GBM auction platform. This innovative Win-Win auction model makes Web3 domains more accessible and engaging for everyone — from first-time buyers to seasoned collectors.’’ – Sandy Carter, COO, Unstoppable Domains
“GBM auctions have introduced a new layer of excitement and strategy to LAND sales in The Sandbox Metaverse. Our community is more engaged than ever, bidding on prized virtual LAND near their favourite brands and celebrities. Even those who don’t win walk away rewarded, turning every bid into a fun and rewarding experience. Bidding has become thrilling, fair, and a new way to earn $SAND along the way.” – Sébastien Borget, Co-Founder & COO, The Sandbox
For GBM, The Auction Festival is a milestone in the protocol’s evolution.
“The GBM Auction Festival is our way of showing people what a modern auction should feel like – fun, fair, and built around rewarding participation. Bidders get rewarded for their role in discovering the true market value of the seller’s assets, resulting in an outcome where everybody wins.” – Hugo McDonaugh, Co-Founder & CEO, GBM
A Festival That Rewards Participation
The Auction Festival will run from late June through to early September, bringing together partner-led auctions, community quests, and protocol-wide incentives. Highlights include:
Live partner auctions, including but not limited to: Aavegotchi, Unstoppable Domains, The Sandbox, and Freename. Participation incentives for all bidders, not just winners. Community quests and tiered engagement rewards. Giveaways, competitions, and community events. The Festival is also a gateway to deeper protocol participation. Through the Festival and the GBM Community Programme, users can earn points for bidding, selling, completing quests, collecting trophies, badges, NFTs, and other rewards. These incentives ultimately lead to a share of the GBM token when it’s launched.
To learn more about the GBM Protocol and the Auction Festival
The Auction Festival officially begins on the 30th June 2025.
Users can:
Learn more about the Festival and the GBM protocol here: https://docs.gbm.auction/ Join the community here: https://discord.gg/gbmauction Follow for updates here: https://x.com/GBMauction About GBM
GBM is the auction protocol redefining how value is distributed onchain. At the heart of GBM is its innovative Win-Win auction model, which rewards every participant, not just the winner. This sets a new standard for price discovery and value alignment across Web3.
To date, GBM has powered $200M+ in bidding volume and distributed over $6M in rewards to bidders, proving its model at scale.
Trusted by top Web3 ecosystems including The Sandbox, Aavegotchi, and Unstoppable Domains, GBM is the next-generation auction layer for crypto-native platforms – making auctions more transparent, engaging, and fair for everyone.
For more information, users can visit: https://web3.gbm.auction
With nearly 90% of votes cast against the proposal, Aavegotchi’s community appears poised to reject a $3.2 million buyout that would dissolve the DAO and transfer the IP.
With two days left to vote, Aavegotchi holders are overwhelmingly opposing a $3.2 million acquisition offer from a Chinese venture firm, with nearly 90% of participating votes cast against the deal so far.
The proposal, introduced on July 22 by a community member acting as an intermediary, outlined an offer from Rongming Investment to buy out the DAO treasury — approximately 16 million GHST — at a 60% discount to the 14-day moving average price for roughly $3.2 million in USDC stablecoins.
Although the rationale behind the proposed 60% discount remains unclear, the deal outlined in the proposal would grant Rongming Investment full rights to use and market the Aavegotchi IP, dissolve the DAO, and distribute the proceeds to active community members.
With just over 2 million GHST tokens participating, the vote has reached only 28% of the required quorum. The vote is scheduled to conclude on July 25. If the current trend holds, the acquisition offer will be rejected.
GHST Price ChartAmid the vote, GHST is up 16% in the past week, according to CoinGecko.
Aavegotchi, a DeFi game revolving around digital “fren” avatars similar to Tamagotchi, migrated from Polygon to Base earlier this year after its community voted to make the switch.
Commenting on the decision, Daniel “CoderDan” Mathews, co-founder of Pixelcraft Studios and a lead developer of Aavegotchi, explained in an X post that the move was driven by Polygon’s limited support for crypto gaming, and involved re-minting NFTs on Base and shutting down Aavegotchi’s custom Layer 3 chain, Geist, due to its low adoption.
In March 2021, Aavegotchi sold 10,000 NFTs in less than a minute, and with additional sales of wearable and consumable NFTs, players spent a total of $5.5 million.
A look at where Pixelcraft Studios’ energy is going in the year ahead.
Over the past few months, the Aavegotchi ecosystem has gone through a quieter period along with the rest of the gaming sector of crypto. That has naturally led to uncertainty and renewed discussion around direction and priorities. This post is meant to clearly outline where Pixelcraft Studios is focusing its energy in 2026 as we build Aavegotchi alongside the DAO and broader community.
The following is a (non-exhaustive!) list of our priorities in the first half of 2026.
Quick SummaryWe’re prioritizing mobile-first, crypto-native games on Base in 2026DeFi Dungeon expands from alpha into a live experiment with faster iterationRektless launches on mobile in Q1Gotchiverse gets incremental upgrades and collaborationsGuardians gets maintenance + events, not major contentDapp stays stable, secure, and mobile-optimizedOpen-source revival starts with Gotchi MinerOur 2026 Strategy: Accessible, Onchain Crypto GamingWe believe the next phase of crypto gaming is about earning attention, improving distribution, and delivering experiences that are native to crypto.
That means focusing on:
Games that are fast to understand and easy to play, with built-in shareabilityOnchain and DeFi mechanics that add real value and lean into crypto-native behaviorTight feedback loops between gameplay, ownership, and game economiesIn 2026, we’re emphasizing rapid experimentation, supported by new AI-first workflows that allow us to iterate faster and test ideas more efficiently - particularly on mobile and on Base, where we see the strongest opportunity for growth.
What We’re Shipping FirstExpanding DeFi Dungeon’s ReachDeFi Dungeon has shown promising early traction with alpha testers. The next step is to bring it to a wider Aavegotchi audience - and beyond - to better understand how players engage with its mechanics over time.
Our focus here is on:
Lowering barriers to entry and improving retentionImproving mobile accessibilityContinuing to experiment with degen-friendly mechanics that reflect where crypto gaming is headingTrue to the year’s focus, we are intentionally treating DeFi Dungeon as a live experiment - iterating quickly and letting player behavior guide what comes next.
👉 Visit https://dungeons.aavegotchi.com to enter the Dungeon.
Your feedback is appreciated and will help determine how the game develops!
Rektless: Mobile LaunchQ1 will see the mobile release of Rektless, a fast-paced competitive side-scroller.
Rektless is a focused effort to ship a complete, polished game loop centered on skill-based gameplay. Non-holders and Aavegotchi holders can play on equal footing, while holders benefit from deeper customization - rendering their own Gotchis using our new, open-sourced sprite collection.
Rektless will ship with four Alchemica themed courses in addition to the Base themed map seen in the image above.
👉 A desktop preview is available now at https://rektless.gg
Gotchiverse: A Maturing HomeworldLate last year, we introduced the ability for any ERC-20 token to spawn, be gathered, and be lost in battle within the Gotchiverse. These bespoke mechanics remain live and active.
Our 3D homeworld continues to host REALM farming and ad-hoc P2E events, particularly during Discord Community Calls (Saturdays, 2–3pm UTC).
Rather than rushing major expansions, our focus is on thoughtful iteration on the existing stack.
Look forward to incremental updates throughout 2026 that focus on expanding the world's capabilities as well as collaborating with other crypto-native communities.
👉 Jump in at https://gv3d.gotchiverse.io
Gotchi Guardians: Live on SteamGotchi Guardians remains live on Steam and will continue to be supported throughout 2026. Players can expect:
Bug fixes and general upkeepOngoing playability and stability improvementsOccasional tournaments and events, including DAO-led or partner collaborationsThat said, we want to set clear expectations: major new content updates for Gotchi Guardians are unlikely in 2026. As a studio, we’re choosing to focus our development energy on titles earlier in their lifecycle and more closely aligned with our mobile-first, onchain strategy.
We remain proud of Gotchi Guardians and deeply grateful to everyone who continues to play and support it.
👉 Play Guardians now at https://www.gotchiguardians.com
The Aavegotchi Dapp & MarketplacePixelcraft continues to maintain and improve aavegotchi.com and the Baazaar NFT marketplace with an emphasis on reliability, security, and open-source development.
This includes:
Ongoing maintenance and performance improvementsSelect UX and feature upgrades where they provide clear valueEnsuring the Dapp remains a stable foundation for games and assets built on topThe Aavegotchi Dapp is now live on Base App and we continue to explore ways to optimize for the mobile platform. If you haven’t already, consider joining Base App today.
Reviving Open-Source Development (Powered by AI)Aavegotchi has a long history of community-built, open-source games. Some of those experiences have fallen out of maintenance over time, and in 2026 we’re taking steps to bring key classics back online - starting with Gotchi Miner.
Mine as many blocks as you can when you play Gotchi Miner.In parallel, we’re working to better support builders by:
Exploring AI-centric tools (Agents, MCPs) to lower entry barriers for developersUpdating documentation so it serves as a reliable source-of-truth for AI and SDK integrationContinuing support for the Unity SDK and open sprite librariesOur goal is to enable building and experimentation across the Aavegotchi ecosystem easier and more accessible.
Expanding GHST Awareness and Utility GHST, the fully liquid eco-governance token of Aavegotchi, remains a crucial marker by which the wider crypto community values the Aavegotchi project.
With our migration from Polygon to Base fully completed in 2025, Pixelcraft is now exploring new ways of expanding GHST utility beyond governance and unit of account for the Aavegotchi ecosystem. In-game consumption, staking and staker-aligned perks are some areas we are very interested in pursuing.
This area of research is open for all in AavegotchiDAO to contribute, so as always, if you have an idea on how to expand GHST utility or awareness, make a thread in the DAO forum.
A Year of Focused Execution2026 is about focus, shipping, and rapid iteration.
But Aavegotchi isn't just one company. It's a whole community, and we're building together. We welcome your active participation, whether it's playtesting games and giving feedback, creating tools to expand the ecosystem, discussing ideas in the DAO forum, or attending the weekly hangouts and making your voice heard.
If we all work hard together, Aavegotchi can and will have a bright future in 2026.
Here's to a productive year ahead, frens.
What Pixelcraft Accomplished in 2025 (Highlights)Launched Gotchi Guardians on SteamShipped DeFi Dungeon and hosted playtesting and balance experimentsMaintained and improved the Aavegotchi Dapp, Baazaar, and GBM Auction HouseContinued Gotchiverse operations and broke new ground with major updatesSupported community tournaments, events, and DAO-led initiativesMaintained open-source tooling, including sprites, SDKs, and developer resourcesContinued stewardship of Aavegotchi’s onchain infrastructure across BaseNetworked and repped Aavegotchi at IRL events alongside Gotchigang
In every bull cycle in the crypto market, a few investment themes always drive the market. These themes usually target eliminating pain points in the industry or bringing about wider adoption. They get the most venture capital allocations and usually mint the next class of crypto millionaires. In December 2019, Ryan Selkis, the CEO of Messari Crypto, released a document titled “Crypto Theses for 2020”, where he made bold predictions of what theses he believed would drive the crypto market in 2020. Most of them went on to be winners, like decentralised finance projects, layer one blockchains, yield and staking protocols, and decentralised autonomous organisations, returning 4-digit multiples in most cases for early investors. Ever since, the treasure hunt has continued mainstream, with many crypto investors scouring through research to find the next bull market catalysts before everyone else does and getting in early to ride the wave to riches.
2024 Themes Crypto has indeed come a long way. It has had a widely successful ride from a humble $185 billion in early 2020 to $3 trillion in late 2021. This growth has been driven by ever-changing yet innovative narratives as the industry continues to disrupt traditional finance. This year, we have identified three dominant themes that will supercharge the next market expansion phase. They are interoperability infrastructure, cross-chain interactions, and wallet services. Let’s take a dive into them.
Interoperability Infrastructure The fundamental issue of fragmented liquidity across decentralised financial markets has been one that has plagued the industry for so long. It is also one that has been actively worked on, given its limiting impact on capital efficiency and user onboarding. Deep in their infrastructural frameworks, blockchain networks lack the interoperability to support extensive worldwide adoption and developer integration. Assets are technically localised in individual blockchains, making cross-chain communication rather difficult or, as some critics say, inherently broken. This is exactly why we believe that protocols that successfully build bridges to connect major blockchains will be strong winners this season.
Router Protocol and Rootstock have emerged as frontrunners in this frontier. Router is an innovative decentralized network built using the Cosmos Software Development Kit with a mission to help blockchains understand and interact with each other. Earlier this year, it rolled out its Testnet Mandara as a home for interoperable decentralized applications (idApps). On Mandara, infra-level flexibility, modular security, and transaction batching were brought to its core cross-chain transaction routing. Just last month, it updated its flagship product, Voyager, to Router Nitro across 17 EVM (Ethereum, BNB Chain), non-EVM (Near, Tron), and zK-EVM chains (Polygon, zKsync) with extra levels of security, compatibility, decentralisation, and cost efficiency. Safe to say Router is a pioneer in this groundbreaking field. Rootstock has made remarkable progress, too. Rootstock describes itself as an omnichain interoperability protocol designed to enable dApps to build across multiple blockchains. Through its product, Rootstock has enabled cross-chain transfers with unified liquidity and instant finality. Backed by major investors, it supports multiple chains, helping them connect and utilise the Bitcoin blockchain. The protocol uses ultra-light nodes to connect dApps across chains, simplifying development and enhancing scalability.
Cross-chain Interactions The current progression of Web3 closely resembles the early 2000s mobile revolution, marked by a surge in interest and rapid uptake, signaling a significant change in our methods of connection and interaction.
Yet, embracing Web3 requires navigating a complex learning path, including understanding cross-chain transactions, token basics, and the intrinsic value of various projects. Despite increased awareness, 46% of non-users point to a lack of understanding of the technology as a major barrier to entry, with 27% uncertain about how to begin their Web3 exploration.
Given these hurdles, it’s crucial to concentrate on a key element of Web3 – Cross-chain Interactions. These interactions, central to a flourishing Web3 ecosystem, enable smooth transactions and transfers across diverse blockchain platforms.
Router Cross-chain Intent Framework (CCIF) aims to make cross-chain transactions simple and efficient, similar to how social media apps have streamlined digital communication. It allows users to easily perform complex blockchain operations like staking, lending, or swapping assets. Router CCIF has the potential to broaden the opportunities by enabling interactions across multiple blockchains, making activities like yield farming or trading NFTs on various platforms accessible to everyone, regardless of their technical expertise in blockchain. Additionally, Router CCIF is designed for future innovations, potentially integrating with technologies like AI and IoT for new applications in smart city development, healthcare, and more. The framework also offers streamlined tools for developers, making it easier to create new applications by building upon existing contracts.
Custodial and Non-Custodial Wallet Services FTX in 2021, Electrum in 2018, Trezor, Trust Wallet, Metamask earlier in the year, and Ledger last week, the custody headache continues. “Not your keys, not your coins” versus “Your keys, your coins, maybe.”
At first, the argument for non-custodial wallet providers was that you no longer needed to blindly trust centralized platforms, but instead, you could now guard your coins yourself by securing your keyphrase. However, for all the stress it brings having to primarily protect your digital assets, the recurring exploits and compounding risks are worrying. One cannot memorize a 12-word seed phrase, navigate complex APIs, and continuously avoid phishing attacks only to have their wallets compromised because of some erroneous bug. It’s just not a fair trade. Nonetheless, we do not expect users, especially DeFi traders, to ditch self-custody options. We only predict that the non-custodial wallet services with stellar security records providing some form of insurance will win going forward. Custody options do not just need to get better; industry veterans need to do a better job educating newcomers. Crypto wallets must also become beginner-friendly and easier to use than PayPal or Apple Wallet while being equally secure, if not more secure, than traditional bank apps.
For users who do not care so much for self-custody, Binance’s Web3 wallet has proven to be a great choice. It easily connects with DeFi and is a great way to navigate CeDeFi integrated services. Komodo also has a pretty cool service that doubles as a cross-chain DEX and a self-custody wallet. Komodo’s added advantage of access to cross-chain liquidity (interoperability) makes it a great option, too. Other good options also exist, like Blockchain.com, Exodus, and cold storage options (most suitable for institutional and long-term retail investors).
Furthermore, with the emergence of digital asset ETFs, institutional custody services could become a highly lucrative niche. So far, Coinbase is winning with over 80% of the market share as it provides services to the likes of Grayscale, Ark, Bitwise, and Valkyrie.
The broad investment themes of interoperability, gaming, and custody indeed look like potential winners in the slowly waking bull market, as they eliminate barriers in mainstream adoption and protocol integration. Obviously, the drivers for the next market expansion will not be limited to these three themes. However, we believe that they will play a major role in pushing for greater heights for the industry.
Router Protocol along with Vanar Chain are excited to join forces and merge the innovativeness of their networks. The two announced that when Router Nitro becomes operational, it will integrate with Vanar Chain’s Mainnet. This turns Router Nitro as one of top bridges for exchanging between chains supported by EVM and Non-EVM via a low-cost, secure, and blazing-fast linking to Vanar Chain.
We're excited to announce our partnership with @Vanarchain, a L1 blockchain ecosystem focusing on entertainment and gaming!
Our cross-chain bridge, Router Nitro, will integrate Vanar Chain once it goes live on Mainnet. Router Nitro will serve as one of the primary bridges,… https://t.co/KBhrOh5CjR pic.twitter.com/0MNPvFd9NP
— Router Protocol (@routerprotocol) April 23, 2024 Vanar Chain and Router Protocol to Expand Opportunities in Blockchain Growth It is a fantastic opportunity for both networks to expand and grow. For Vanar Chain, integrating Router Nitro’s bridge to Mainnet will allow users to enjoy more liquidity, network crossovers, and security breaches protection. Router is putting an end to blockchain apartheid, providing a secure, governable, and modular solution to eliminate market fragmentation and parallel universes.
This integration is perfectly suited to Router Protocol’s ultimate goal of mingling a billion more users into Web3. The firm is dedicated to doing away with blockchain apartheid in order to create a more united and inclusive Web3. Precisely, Vanar Chain is the L1 blockchain community of choice for entertainment and gaming.
Vanar Chain and Router Protocol Lead Cross-Chain Innovation Vanar Chain offers unparalleled solutions to entertainment verticals, providing a fun and immersive experience for all users. The Router Nitro deployment on Vanar Chain Mainnet offers excellent value to the entertainment sector. It also gives gamers a breath of fresh air in more affordable and secure transactions and a chance to engage in cross-chain asset swapping with ease.
Additionally, the new partnership provides an opportunity for innovation in the entertainment and gaming sectors. With the power of Router’s Nitro networks, developers and industry players can develop new business models and profitable areas driving growth and adoption.
As a result, the agreement between Router Protocol and the Vanar Chain can be viewed as a qualitative leap in the evolution of blockchain. The two ecosystems are certain to revolutionize the landscape of cross-chain interoperability, making people, developers, and firms far more capable.
The amount Router Nitro runs on the Vanar Chain Mainnet would ensure that users have the ability to purchase more other assets and possibilities without even trying hard. Simultaneously, developers and businesses can employ the same possibilities to spark interest in everything possible for entertainment and gaming possibilities.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Ethereum and BNB chain bridge Router Protocol just closed an oversubscribed funding round to extend the bridge to more networks.
Router Protocol, a modular cross-chain framework for building interoperable applications. By connecting different blockchain ecosystems, bridges play a crucial role in creating a more cohesive and streamlined network.
It was launched in 2022 on the Polygon and BSC chains with the objective of making life easier for future Web3 users.
Router Protocol said in a press release that it has recently raised more than expected funds for further development—but didn't disclose exactly how much. The investment realized from this raise will be used to fuel its own fully operational layer 1 blockchain, thus breaking away from the Binance and Polygon ecosystem.
“Router Chain embodies the evolution of our unwavering vision to build the universal interconnectivity layer between fragmented L1/L2 networks,” Ramani Ramachandran, CEO of Router Protocol, said in a press release.
The goal, he added, is to do away with complexity.
The team is “laser-focused on delivering seamless and intuitive user and developer experience for multi-chain applications,” he added.
According to Shubham Singh, the CTO of Router Protocol, the ecosystem has experienced tremendous growth with cross-chain projects like FolioX and StakeEase, which have decided to take advantage of the Protocol’s unique characteristics to make a name for themselves.
In another development, Router Protocol has achieved a significant milestone with the successful launch of Router Nitro. This cross-chain bridge leverages an innovative reverse-verification method to deliver speed and gas efficiency.
Since its launch, the Nitro bridge has facilitated over $350 million in volume, processed more than 650,000 transactions, and attracted nearly 300,000 unique users within four months.
This underscores the growing demand for seamless cross-chain interactions.
The Protocol will soon launch an Ecosystem Grant for projects with future prospects that build on the Router Chain.
Edited by Stacy Elliott.
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Router Protocol, an interoperability layer that connects diverse blockchains, has disclosed an exclusive development. As per the company, it has accomplished oversubscribed funding that took into account the participation of well-known crypto funds and angels. The platform shared a comprehensive blog post to provide the details about this move.
Router Protocol Accomplishes Its Oversubscribed Funding The firm expressed enthusiasm about this endeavor. It mentioned that the strategic round had a chief target of expanding the cap table of Router. In this respect, the project took into account the cryptocurrency operators who thoroughly comprehend that the cross-chain infrastructure is important. They also know that this can speed up the ecosystem advancement while Router upgrades into an L1 blockchain platform.
Additionally, the firm also revealed that a distinctive group of proficient Web3 executives and founders participated in the project. They reportedly came in as advisors and angels. These personalities took into account Ravindra (Frontier), Amitej (Stader), Anurag Arjun (Avail), Aniket (Biconomy) and Amrit Kumar (Altlayer). They also included Parker Jou (Caldera), Keone Hon (Monad), and so on.
According to Router Protocol, it also obtained huge support from the platform’s existing investors. They included prominent market players like Luganodes, RavenDAO, CryptoBantere, DeFi Capital, Woodstock, and Wintermute Ventures. This reportedly denotes a testament to their solid belief in the company’s vision. The other famous angels and advisors included Surojjit Chatterjee (EMA, Flipkart, Google, Coinbase), Gokul Rajaram (Google/Doordash), and so on.
The firm added that it will strategically deploy the respective funding’s proceeds to push forward its development. Apart from that, it will also utilize them for the highly speculated mainnet release of Router Chain. The company claimed that it is poised to revolutionize the fund transaction by minimizing the blockchain complexity. Hence, this would reportedly unlock a new epoch of smooth cross-chain applications as well as user experiences.
The Platform Also Releases the Router Ecosystem Grants Program to Help Router Chain Projects Router Protocol’s CEO “Shubham Singh” also remarked on this initiative. As per the executive, the ecosystem’s swift expansion is thrilling. He added that cross-chain projects such as FolioX, StakeEase, and several others are leveraging the firm’s interoperability measures. To speed up the platform’s growth, it has also announced the impending release of the Router Ecosystem Grants Program. It will offer significant financial resources and support to profitable projects on the Router Chain.
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Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Router Protocol, a Coinbase Ventures-backed decentralized blockchain network, has announced the mainnet launch of its Layer-1 solution Router Chain.
The launch, set for Tuesday, aims to bridge Bitcoin (BTC) and Ethereum (ETH) security to chains in the Cosmos (ATOM) ecosystem, enabling fully interoperable decentralized applications.
Router Protocol’s mainnet launch introduces chain abstraction technology, allowing developers to create dApps for cross-chain money markets and omnichain tokens and other use cases.
Router Chain eyes a chain abstracted ecosystem Chain abstraction relates to the defragmentation of the blockchain ecosystem to allow users to interact with dApps from any chain without having to exit their current application. Abstraction also allows for interaction with the applications on disparate chains via any token, with blockchains benefitting from aggregated liquidity.
Router Protool wrote in an update that its mainnet launch is another step towards addressing challenges facing developers and the community in relation to chain abstraction within the Web3 ecosystem. Per details shared in the press release, the protocol offers a product suite that includes Router Chain, Nitro and CCIF for this goal.
Router Chain is a proof of stake layer-1 chain leveraging Tendermint’s BFT consensus mechanism and offers compatibility with EVM and non EVM chains. Meanwhile, the Cross-Chain Intent Framework is a plug-and-play infrastructure for cross-chain dApps and Nitro supports cross-chain swaps.
“By abstracting blockchain complexities, Router Protocol not only advances chain abstraction technology but enables the next generation of decentralized applications to seamlessly interact across multiple chains, boosting efficiency and reducing costs. This is the development Web3 has been waiting for,” Router Protocol founder and CEO Ramani Ramachandran said.
ROUTE as gas token Router Protocol’s mainnet launch also allows developers and users to benefit from features such as optimistic reverse verification and fast finality for fast cross-chain transfers. Meanwhile, middleware interceptors provide for customizable interactions and composability.
According to Router Protocol, the ROUTE token will serve as the platform’s gas token as well as offer staking rewards for holders.
Bridging Bitcoin, Ethereum to Cosmos Features that come with Router Chain’s mainnet launch includes canonical bridges, omnichain tokens and alloyed assets, and cross-chain money markets. Developers can leverage Router Chain for decentralized applications for cross-chain lending, borrowing and trading.
Router Chain’s multi-chain dApps feature means developers can tap into Bitcoin or Ethereum’s security, while at the same time leverage Solana for low transaction costs and speed. Router plans to launch a bridging solution for Cosmos to help mitigate the chain’s security limitations.
Also backed by QCP Capital and Wintermute among other investors, Router Protocol will look to mainnet launch to expand beyond the over 30 EVM and non-EVM chains that it currently supports.
Router Protocol has partnerships with Circle, Osmosis and Electron Labs, while its CCIF integrations include Lido, Benqi, Stakestone and Aerodrome.
Bitcoin price today continues its search for a new bottom below $40,000, having recently dropped to $38,555. Although the significant support level of $38,500 for BTC is currently holding, unexpected high-volume selling or buying in the coming hours could further increase volatility in altcoins. Particularly, the demand in futures contracts is laying the groundwork for such high-volatility movements.
Will CEEK Coin Increase?We have shared long-term evaluations of CEEK Coin price performance many times. In the latest price analysis, we mentioned that investors have reached a point of frustration on social media. CEEK Coin, with a high concentration of Turkish investors, has not shown sufficient progress and has not had the opportunity to be listed on popular exchanges in the past three years.
Weak technological progress, the certification of the team’s lack of confidence in CEEK Coin during metaverse land sales, and social activity that did not go beyond listing rumors have led to the current situation.
However, for those curious about the future of the price, we see buyers coming in at the support level of $0.044. The long tails on the daily chart indicate that some buyers are taking advantage of the rapid sales as BTC heads lower. However, if BTC weakness continues, this support could also be lost. Subsequent sales could continue down to $0.03337, potentially opening the door to a new all-time low price.
Chiliz (CHZ) Price PredictionDespite all the negativity, CHZ Coin bulls seem determined not to give up on their gains. After months of moving within a parallel channel, the price finally broke free and continues to stay above the key region, even as BTC retreated to the $38,500 support.
Closures above $0.085 are positive, and with BTC potentially returning above $42,000, CHZ Coin could quickly recover among altcoins. Key areas are $0.106 and $0.112; daily closures above these could see movements towards $0.131 and $0.143. The medium-term peak target is at $0.27.
Conversely, if it falls back below the parallel channel’s resistance level, the decline could deepen to the $0.072 middle area. In a scenario where BTC’s overselling leads to a massive bottom at $30,000, the $0.058 and $0.055 lows could be retested after months.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Huobi Group has announced the expansion of its footprint in the MENA region, launching its white-label digital asset exchange services at its office in Dubai, UAE. Huobi is the latest firm to leverage the blockchain-friendly attitude of the UAE, where the government has committed to a strategic agenda for adopting the technology.
Huobi Cloud enables exchange operators to leverage Huobi’s platform for launching their own exchange. In exchange for a share of the profits, Huobi Cloud partners can stamp their own brand onto a cryptocurrency exchange, with access to Huobi’s desktop and mobile trading platforms, order book, liquidity, and over 450 digital asset trading pairs. It’s part of Huobi’s broader expansion plans, for which it recently raised 500 million Japanese Yen ($4.5m.)
According to the press release accompanying the Huobi announcement, 5.2% of people in the UAE hold some form of cryptocurrency. However, given the rapid pace of blockchain adoption by enterprises and the government, that figure is likely to be growing. This month alone, there has been a slew of blockchain and crypto-related news emerging from the region.
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The desert where blockchain sprouts? In early October, enterprise blockchain provider Blocko confirmed it was launching in the UAE, thanks to a partnership with SEED group, a member of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum. Blocko will be working with operating platform Aergo to implement hybrid public-private blockchain for the UAE government and enterprises throughout the nation.
The announcement is the latest news from the UAE government’s strategy to move 50% of its transactions onto the blockchain by 2021. The strategy is aiming to save 11 billion AED (~$3 billion) in transaction and documentation costs each year, as well as 77 million work hours.
Later in the month, the Department for Urban Planning and Municipalities announced it would be moving its land registry records to the blockchain. At the same time, Dubai authorities stated their intention for a similar initiative for business registrations.
Shortly afterward, the Dubai Chamber of Commerce and Industry confirmed it had signed a Memorandum of Understanding with government-owned bank, Emirates NBD. The MoU covers the provision of trade finance solutions for Dubai’s Digital Silk Road, which uses blockchain to digitize trade processes.
Meanwhile, cryptocurrency users in the region recently received good news from regulators. The UAE Securities and Commodities Authority (SCA) drafted a resolution that aims to give greater clarity to crypto-related projects, providing confidence to business owners wanting to operate in the space.
Although it’s not clear if this resolution is related to the news of Huobi Cloud’s expansion into the UAE, it’s bound to be good news for the Singapore exchange giant’s growth plans. Huobi recently signified the health of its revenues with an 11 million burn of its HT tokens, worth over $40 million.
Disclosure: This article was edited by Sarah Rothrie. For more information on how we create and review content, see our Editorial Policy.
Aergo protocol stirred up a buzz across the broader crypto industry on Tuesday as its native token AERGO price skyrocketed nearly 25% on an important update from Binance. The leading crypto exchange announced perpetual contract launch for the token, stirring investor enthusiasm across the market. Crypto enthusiasts continue to speculate whether the listing could spark an uptrend for the token ahead.
Binance Launches AERGO Futures Listing As per an official Binance announcement dated September 10, the crypto exchange revealed that it is launching futures trading for AERGO USD-Margined perpetual contract (AERGOUSDT) starting today at 12:15 UTC. Traders on the platform can enjoy up to 75x leverage trading the digital asset.
This decision by the crypto exchange comes as a mover to “expand the list of trading choices offered and enhance users’ trading experience” on the platform. The underlying asset remains Aergo protocol.
It’s worth noting that the capped funding rate set by the exchange was at +2.00% / -2.00%. However, the CEX also clarified that it may adjust the specifications of the listing contract based on market conditions. This includes changes in the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.
Meanwhile, the protocol’s community on X recently revealed that it is readying a V4 update to enhance network compatibility and fix minor issues on the protocol’s ecosystem. With 95% of the work for this V4 update is completed, the testnet launch remains poised for mid-September. Also, the mainnet hard fork is set to go live by the end of September. These developments, altogether, have garnered significant investor attention on the AERGO token amid its price upswing.
Token Price Surges 25% AERGO price soared nearly 25% from its 24-hour low to trade at $0.1054 at press time. The coin’s intraday low and high were $0.08566 and $0.111, respectively. AERGO’s 24-hour trading volume surged by a whopping 1951.48% today, sparking a buzz among market participants. This price upswing primarily aligns with the top crypto exchange‘s futures listing announcement weighing in.
As seen previously, Binance futures listing for Rocket Pool (RPL) sparked a phenomenal price uptick for the Ethereum liquid staking protocol, CoinGape Media reported. Similarly, the AERGO price upswing witnessed today aligns with the exchange’s listing announcement, with the V4 upgrade adding to optimism on future movements. Notably, since September 10, the coin has noted nearly 13% gains in its value, cementing optimism among market participants.
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Political tokens led by meme coins linked to Donald Trump plunged more than 8% after last night’s presidential debate with the odds of Kamala Harris becoming the next president gaining on betting platforms including Polymarket.
Trumpie (TRUMPIE), Doland Tremp (TREMP) and MAGA Pepe (MAPE) were the biggest losers in the political meme coin sector over the past 24 hours. TRUMPIE plummeted over 47%, while both TREMP and MAPE shed more than 25%.
Betting Odds Shift In Favor Of Kamala Harris As Donald Trump Struggles Harris and Trump faced off in their first debate in Philadelphia yesterday evening. Topics covered in the debate ranged from the economy to foreign policy to abortion. Following the debate, BetOnline odds that had initially favored Trump had flipped to Harris.
Odds in favor of the former US president winning the election in November dropped 3% on the decentralized betting platform Polymarket. Meanwhile, Harris’s odds rose by the same amount over the past 24 hours. Bettors on the platform now see a 49% chance of either candidate taking the White House this year.
World's largest prediction market.
Before the debate After the debate pic.twitter.com/p1KjOOFZU1
— i/o (@eyeslasho) September 11, 2024
Before the debate, Trump had an 8% lead on the platform. His odds prior to yesterday’s face off stood at 53%, compared to Harris’s 45%.
Crypto Not Mentioned Once In First Harris-Trump Presidential Debate Despite Trump’s pro-crypto stance, the industry was not mentioned once during the debate. The former US President appeared to be agitated during the face off with data from the fact-checking agency PolitiFact showing he made several false claims.
Trump had earlier vowed to end President Joe Biden’s war on crypto if elected. He also said on Sept. 5 that he plans to wipe out anti-crypto regulation and make the US the “world capital of crypto.”
Bernstein analysts told clients in a Sept. 9 note that Trump winning could ignite a BTC rally to $90K by the end of the year, while a Harris win could see the king of cryptos plummet to $30K.
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Attorneys for former Alameda Research CEO Caroline Ellison asked that she be spared a prison sentence for her role in the FTX collapse, citing her “extraordinary cooperation” in testifying against FTX founder Sam Bankman-Fried.
In a Sept. 10 court filing, they noted that the Probabtion Department had recommended three years of supervised release instead, and highlighted Ellison’s key role in securing Bankman-Fried’s conviction.
She faces up to 110 years in prison but is likely to receive a lighter sentence due to her assistance.
Bankman-Fried Instructed Ellison To Compile False Balance Sheets Ellison provided the most damning testimony during Bankman-Friend’s trial, which subsequently led to his 25-year prison sentence.
Ellison described how Bankman-Fried instructed her to compile misleading balance sheets for investors. She also revealed how the FTX founder pursued risky investments knowing full well that it would lead to a draw down for investors.
Ellison “poses no risk of recidivism and presents no threat to public safety,” Ellison’s attorneys said in the filing. Her “early disclosure of the crimes, her unmitigated acceptance of responsibility for them,“ as well as the three days she testified as a government witness against Bankman-Fried were listed in the filing as reasons for the court to grant her leniency.
Caroline Ellison's lawyers want to redact parts of her sentencing submission because she "has been the focus of intense media scrutiny and Internet fascination" pic.twitter.com/d2d8Ip98oS
— Jacob Shamsian ⚖️ (@JayShams) September 10, 2024
Diary entries and statements showing Ellison’s cooperation with FTX’s bankruptcy estate were also a part of her sentencing submission, along with letters from former colleagues, friends and family.
Caroline Ellison Faces Up To 110 Years In Prison Ellison pleaded guilty to seven counts of wire fraud, money laundering, commodities fraud and securities fraud in commingling of FTX and Alameda Research funds.
If given the maximum allowable sentence, Ellison could be sentenced to 110 years in prison, although legal experts say her cooperation and testimony make this unlikely.
Ellison is scheduled to appear in court for her sentencing on Sept. 24.
Former FTX engineering director Nishad Singh and the exchange’s co-founder Gary Wang will have their sentencing hearings on Oct. 30 and Nov. 20, respectively. Wang and Singh also pleaded guilty.
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Aergo rallied by 60% despite a bearish divergence, showing the rally’s strength Traders and investors should not be FOMOing right now over AERGO Aergo [AERGO] has rallied by 181% since the low at $0.0475 on Saturday. In fact, CoinMarketCap data highlighted the token’s size relative to the larger assets. At press time, it had only 7,300 holders and a market cap of $64.44 million. Quick rallies in smaller tokens should be treated with caution, as the usual low trading volume can make it easier to drive prices higher before whales dump their holdings.
Moreover, the price has reached the key resistances from March and April 2024. The $0.17 and $0.195 levels marked the tops Aergo token formed in the past year. And, they could mark this rally’s top as well.
Aergo bulls should look to take profits, instead of bidding more Source: AERGO/USD on TradingView The 1-day chart revealed a bullish surge for the token, one that propelled it past the series of lower highs made since February. The session close above $0.08 on Sunday, 06 April, flipped the AERGO market structure bullishly on the 1-day chart.
The trading volume bars at the bottom have also seen enormous hikes since the weekend, underlining incredible trading volume. On Saturday, Coinbase saws 1.25 million AERGO tokens traded. This figure catapulted to 150.25 million on Sunday.
If AERGO can climb above $0.2, it would be a strong sign of sustained buying pressure. Until then, buyers should beware a bearish reversal as the price retests key supply zones.
Source: AERGO/USD on TradingView On the 4-hour chart, a strong bearish divergence between the price and the MFI was highlighted.
Even after the divergence formed, Aergo pumped by 60%, showing how difficult it can be to predict reversals for coins with such intense volume.
Source: Coinglass The liquidation heatmap of the past week revealed that AERGO allowed liquidity to build up overhead while consolidating for a few hours. This, before bursting higher beyond these pockets. This pattern appeared to end below the $0.166 liquidity pocket.
It is likely that the $0.166-$0.17 resistance zone would be retested soon. Especially since the magnetic zone seemed to be relatively close to the press time market price.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
Onyxcoin led daily crypto gainers with a 100.5% surge, trading at $0.02 on April 11, 2025. Aergo, Swiftcoin, Orca, and WEMIX followed with strong 24-hour price gains and market activity. Top gainers traded on Binance, Coinbase, and Bybit, reflecting high liquidity and investor demand. On April 11, 2025, the crypto market witnessed a surge in select digital assets, with Onyxcoin (XCN) emerging as the top-performing token of the day. According to data from Phoenix Group, the daily market gainers list featured ten tokens that recorded price increases within 24 hours. These price movements reflected increased market activity, short-term bullish momentum, and potential project developments affecting investor sentiment.
The assets listed were traded across leading cryptocurrency platforms, including Binance, Coinbase, and Bybit, indicating high liquidity and accessibility for retail and institutional participants.
Onyxcoin Registers 100.5% Daily Price Surge Onyxcoin (XCN) led the daily gainers with a 100.5% price increase, making it the most performer on April 11. The asset was trading at $0.02, bringing its market capitalization to $749.8 million. This rise placed XCN ahead of other gainers, highlighting an increase in demand within a short time frame.
Aergo (AERGO) was next, increasing its trading value by 82.8% of its price. It was trading for $0.20 per token and had a total market cap of $109,800,000. Swiftcoin (SWFTC) held the third place on the list due to an increase of 48.6% in its price, now trading at $0.01. Its market capitalization was reported at $152.5 million.
Orca, ZircuIt, and WEMIX Show Notable Market Performance. Other tokens that showed good appreciation in the space are ORCA that appreciated by 44.7%. ORCA has been priced at $2.84, with the company achieving a market value of $158.6 million. AFL was up by 37.8%, it rising to $0.03 in the same period as ZircuIt (ZRC).
WEMIX (WEMIX) advanced by 26.4%, trading at $0.70. Despite a lower percentage increase than XCN and AERGO, WEMIX stood out with one of the highest market capitalizations among the listed assets, valued at $292.6 million.
Remaining Tokens Record Moderate Price Increases Spearx (SPA) gained 26% to trade at $0.01. XYO Network (XYO) recorded a 22.8% increase within the 24-hour window, also trading at $0.01. VIDT Datalink (VIDT) gained 20.1%, reaching a trading price of $0.01.
Curve (CRV) completed the list of daily gainers with an 18.4% increase in price. CRV traded at $0.59 and reported the largest market capitalization among the day’s top gainers, standing at $786.9 million.
Trading Platforms Support High Liquidity Across Gainers All ten assets listed as top gainers were actively traded across some of the industry’s most recognized centralized exchanges. The availability of these tokens on platforms like Coinbase, Binance, and Bybit contributed to increased liquidity and investor participation during the trading day.
This kind of movement, particularly in one direction in a single day, refers to movements of the short-term market, and high trading activities are usually experienced around certain assets. Due to broad market indicators, it was expected to be different in that the performance of the gains was inclined within some tokens, and each of them demonstrated different price actions within their trading index.
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Peter Mwangi is an accomplished crypto news writer with over three years of experience. He is recognized for producing insightful, well-researched content across major crypto publications. As an expert in blockchain technology, digital assets, and decentralized finance, he can uniquely simplify complex topics into engaging, accessible narratives. His strong storytelling and analytical skills, combined with a passion for continuous learning and collaboration, make him a valuable asset to the BlockchainReporter team.
The Aergo price has seen a significant uptrend following the recent announcements by prominent exchanges like Binance and DigiFinex Global. Within a day, Aergo surged by 18%, reaching a new all-time high.
However, the token was quick enough to erase its gains with a 40% drop in the last 24 hours.
Binance Launches Aergo Perpetual Contracts, Price Surges In a stunning announcement, Binance, a top crypto exchange, revealed its decision to launch Aergo Perpetual Contracts. This announcement has caused a stir in the community, pushing Aergo price to a new all-time high of $0.51.
As of press time, Aergo is trading at $0.5138, marking a significant increase of 23.55% in a day. Over the past week, month, and year, the token has seen staggering surges of 287%, 635%, and 243%, respectively.
DigiFinex Lists Aergo Sparking Investor Interest Coinciding with Binance’s Aergo Perpetual Contracts launch, crypto exchange DigiFinex announced the new listing of tokens, including Aergo. Other tokens newly added to the platform are $SWFTC, $ORCA, $UXLINK & $GOG.
🔔 New Listing Alert$AERGO, $SWFTC, $ORCA, $UXLINK & $GOG will be listed on #DigiFinex on Apr. 15th 2025 7:00 (UTC)!
Reportedly, Aergo is listed on DigiFinex with the trading pair USDT, effective from April 15, 2025 (7.00 UTC). The DigiFinex listing, coupled with Binance’s major announcement, has triggered a push in the Aergo price, with traders and analysts remaining bullish.
Binance Sparks Criticism, Know Why Binance’s Aergo pertual contracts launch announcement comes a week after the exchange delisted the token. Driven by this contradicting action, the community raises concerns over Binance’s intensions.
For instance, analyst Crypto Gem slammed Binance for its contradictory moves. The analyst cited, “Binance is playing a dirty game.” He further added,
They delisted the $AERGO token and now, just a week later, they’re listing it on perpetuals after it pumped 10x in a few days. This clearly shows they don’t care about solid projects or communities only about filling their own pockets.
Despite this criticism, the Aergo price continues its upward trend, targeting new all-time highs.
Recently, Binance founder Changpeng Zhao dismissed rumors of his connections with the US Federal Reserve.
Aergo Targets Top 100 Spot Driven by these significant developments, the Aergo price is moving on a positive track, sparking both optimism and ambiguity. The 24-hour trading volume of Aergo has experienced a staggering jump of 35%, currently at $791.78 million.
Moreover, Aergo’s market cap jumped 35.5% to $273.57 million. Ranked 158th, analysts predict a potential top 100 spot if the rally continues.
The Aergo token has experienced a notable surge following significant announcements from the Binance and DigiFinex exchanges. Within just one day, the token rose by 18%, reaching a new peak of $0.51. The developments, which have sparked excitement within the community, have allowed Aergo to regain investor interest, particularly due to Binance’s decision regarding perpetual contracts.
Binance Announcement Triggers Price IncreaseIn a statement from Binance, the exchange announced the launch of perpetual contracts for Aergo in USDT trading pairs. This news quickly garnered intense interest among investors. Following the announcement, Aergo’s price surged to $0.51, with recent data indicating a 23% increase in the token’s value.
However, not everyone welcomed Binance’s move positively. Critics on social media pointed out the exchange’s previous decision to delist Aergo, questioning the timing of this new offering. Some commentators suggested that the action prioritized the exchange’s own interests. Nevertheless, the price increase is seen as a strong signal in terms of market dynamics.
Additionally, Aergo’s 24-hour trading volume has increased by 35%. This significant rise in market capitalization supports upward expectations for the token’s ranking. Some market participants speculate that Aergo could potentially enter the Top 100 cryptocurrencies in the near future.
DigiFinex Listing and New ExpectationsDigiFinex has officially announced the listing of the Aergo token in the USDT trading pair. With this development, Aergo has regained visibility on major exchanges. The announcement included details about the timing of the listing and trading pair, further engaging investors. It was also reported that other tokens have been listed on the platform, indicating a heightened interest from DigiFinex users.
The increased interest in Aergo due to this new listing has positively impacted the token’s liquidity and trading volume. During this period, investors are closely monitoring developments from both Binance and DigiFinex. Notably, past incidents involving claims denied by Binance’s founder have resurfaced in discussions.
In the cryptocurrency market, exchange announcements can quickly influence investor psychology. As seen with Aergo, price movements are shaped not just by technical analysis but also by the decisions made by exchanges. Recent developments have increased medium-term optimism towards Aergo.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
AERGO has plunged over 70% since its debut on Binance Futures, prompting accusations from community members who suspect market manipulation and coordinated sell-offs may be driving the steep drop.
Aergo (AERGO) fell to an intraday low of $0.12 on April 17, afternoon Asian time, bringing its market cap down from $307 million to nearly $78.5 million as of press time. Its daily trading volume was up 88% over the past day, hovering over $1.37 billion.
Source: TradingView The drop followed a nearly two-week uptrend that began on April 6, during which AERGO rallied over 1,200% to a record high above $0.658 on April 16, before crashing roughly 75% the following day.
AERGO price started tanking less than 12 hours after its listing on Binance Futures, which enabled trading of the AERGO/USDT pair with up to 15x leverage.
Some community members on X have questioned the timing of the crash, especially given Binance’s recent decision to delist AERGO’s spot trading pair on March 28, as part of a routine asset review process, the exchange said at that time.
Despite the delisting, AERGO surged over 10x in the following weeks. Then, just hours after Binance reintroduced the token on its Futures platform, the sharp sell-off began, fueling further suspicion around the sequence of events.
“Binance is playing a dirty game again,” said analysts at Crypto Gem Signals, criticizing Binance for only stepping in when there’s hype to profit from, and calling the latest move further proof that it’s the “biggest fraud exchange ever.”
AERGO futures saw heavy downside pressure across major derivatives platforms, with most positions leaning bearish amid sharp drops in open interest and negative funding rates on nearly all exchanges.
On Bybit, open interest fell over 53% to $36.48 million, while Gate.io and MEXC recorded declines of more than 50% and 71%, respectively. Funding rates were deeply negative across the board—Bybit at -3.000%, Binance at -2.000%, and Bitunix at -1.600%—indicating that traders were broadly positioned for a price decline.
In an April 17 statement shared on X, the Aergo team acknowledged the concerns around extreme volatility, clarifying that they had not been informed ahead of the token’s re-listing on Binance Futures either.
The team has reportedly requested Binance to re-list AERGO on Spot to help minimize extreme price swings, but has not received any response from the exchange so far.
“We’re not here for short-lived pumps — we’re here to build,’ the post concluded.
Amidst this backdrop, concerns over AERGO’s token distribution have also come into focus. Altcoin Gordon, a well-followed trader on X, pointed out that over half of AERGO’s supply is held by the team, early investors, and advisors, something which they believe increases the risk of insider-driven price moves.
He also likened AERGO’s structure to OM, which recently collapsed by over 90% on April 13 after some large token holders allegedly moved funds to exchanges, triggering a cascade of forced liquidations and sparking concerns about centralized supply risks.
XEM leads daily gains with 37.9% surge, showing strong market buying interest. FUN and Aergo post significant double-digit growth amid active trading sessions. Sei holds largest market cap at $1.2B, reflecting broad investor confidence. As reported by Phoenix Group, on June 21, 2025, the crypto market experienced major daily gains across a range of digital assets. XEM (NEM) led the list with a 37.9% increase in price, followed by large rises in other projects such as FUN, Aergo, and Flock.
XEM showed the highest daily gain on June 21, jumping 37.9% to reach $0.0067 per token. This rise pushed its market capitalization to approximately $61.8 million. The increase in XEM’s price indicates a surge in trading volume and buying interest during the trading session, making it the standout performer for the day.
FUN and Aergo Post Double-Digit Gains Funtoken (FUN) followed with a 31.3% price increase, also closing at $0.0067. Its market cap stood at $72.3 million, marking it as one of the more actively traded tokens among the daily gainers. Aergo posted a 15.4% gain, with the token priced at $0.14 and its market value reaching $69.3 million. These figures display strong price appreciation for both assets amid market movements.
Beyond the top three, several other cryptocurrencies registered gains ranging from 5% to over 13%. Flock rose 13.3%, trading at $0.16 and holding a market cap of $18.5 million. Quai Network increased 10.3% to $0.092, with a market capitalization of $45.7 million. Magic also posted gains of 7.8%, priced at $0.16 and valued at $50.5 million. Liquity (LQTY) increased 7.2%, trading at $1.14 with a market cap of $111.2 million.
Sei, Aethir (ATH), and Alex Lab (ALEX) rounded out the list of daily gainers with more rises. Sei advanced 6.9% to $0.22, maintaining the highest market capitalization among the group at $1.2 billion. Aethir increased 5.9%, trading at $0.035 and holding a market value of $346.2 million. Alex Lab gained 5.1%, priced at $0.017 with a market capitalization of $17.5 million.
These cryptocurrencies are actively traded on major exchanges, including Binance, Coinbase, and Bybit. Their presence on leading platforms guarantees adequate liquidity and accessibility for traders and investors. The wide range of market capitalizations—from $17.5 million for Alex Lab to $1.2 billion for Sei—highlights diversity in project scale and investor interest.
AUTHOR
Peter Mwangi is an accomplished crypto news writer with over three years of experience. He is recognized for producing insightful, well-researched content across major crypto publications. As an expert in blockchain technology, digital assets, and decentralized finance, he can uniquely simplify complex topics into engaging, accessible narratives. His strong storytelling and analytical skills, combined with a passion for continuous learning and collaboration, make him a valuable asset to the BlockchainReporter team.
World Mobile Token has developed by integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to boost cross-chain token exchange and staking. This integration across multiple blockchains, including Ethereum, BNB Chain, Base, and Arbitrum, makes user transactions smooth.
World Mobile ensures secure and reliable cross-chain operations, benefiting from CCIP’s security features and risk management protocols. Chainlink shared this strategic integration with Chainlink (LINK) through its official X account.
Expanding Secure Cross-Chain Transfers with Chainlink CCIP Chainlink CCIP introduces arbitrary messaging capabilities, further streamlining the cross-chain process. This allows the World Mobile Token (WMT) network to offer simplified, secure staking across different chains. Consequently, users can stake on one chain and receive rewards on another, improving overall functionality.
World Mobile selected CCIP due to its proven track record of reliability in the Web3 industry. Chainlink’s CCIP is built with an independent Risk Management Network, which monitors cross-chain activities for suspicious behavior. This added layer of protection is crucial, given the exposure historically seen in the cross-chain sector.
Strengthening the World Mobile Ecosystem Chainlink’s integration brings several critical features to the World Mobile ecosystem. The CCIP Token Transfer solution allows audited token pool contracts to manage minting, locking, and burning tokens, creating an efficient and secure transaction system. Additionally, programmable token transfers enable data to be processed alongside tokens, streamlining developer transactions.
Moreover, CCIP is designed for future scalability. World Mobile Token’s decision to integrate CCIP ensures that new blockchain functionalities can be incorporated without costly upgrades or transitions. Hence, CCIP’s flexibility makes it the ideal solution for cross-chain operations.
This integration comes as World Mobile continues its mission to disrupt the telecom industry by offering decentralized mobile networks, focusing on underserved communities globally. By combining blockchain technology and sharing economy principles, World Mobile Token seeks to provide affordable and high-quality connectivity worldwide.
Chainlink CCIP is designed to be future-proof. It supports continuous updates, allowing World Mobile Token to adapt to new functionalities and blockchain networks. This future flexibility eliminates potential switching costs, making it a cost-effective and scalable solution for World Mobile Token’s growth.
World Mobile’s CEO, Micky Watkins, highlighted the importance of CCIP in securing their ecosystem, stating that it will enable staking across different blockchains while expanding the company’s offerings without compromising security.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
World Mobile Token ($WMT) has partnered with Fireblocks, an enterprise-grade digital asset management solution. This collaboration seeks to increase security on one of the WMT Migration Portal platforms, which started on September 30th, 2024.
🤝 We're delighted to announce our collaboration with @FireblocksHQ to bolster the security of the recently released Migration Portal.
🔐 Fireblocks' enterprise-grade platform is integral to providing a seamless and protected token migration process for our valued WMT holders.… pic.twitter.com/eNMxEBjqIS
— World Mobile Chain (@wmchain) October 4, 2024 The platform will make token migration safe and efficient so that token holders can shift from the Cardano-based WMT to the preferred ERC-20 WMTx token. This partnership plans to launch the token across the Ethereum, Base, and BNB Chains. WMT disclosed this strategic partnership to the crypto community through an X post.
Fireblocks Infrastructure Enhances Security Fireblocks ensure that WMT holders experience a seamless token migration. By leveraging Fireblocks’ advanced platform, World Mobile Token reinforces its commitment to providing users with a safe and efficient process for moving their assets.
According to Zachary Vann, Head of Token at World Mobile Token, the integration of Fireblocks signifies their dedication to ensuring the security and reliability of the migration process. Vann emphasized that the partnership allows token holders to migrate confidently, knowing their assets are protected throughout the process.
World Mobile Token’s Migration Portal Offers Flexibility World Mobile Token’s Migration Portal includes a bridge to Cardano, offering holders additional flexibility. This feature allows users to upgrade to the ERC-20 WMTx token while maintaining connections to the Cardano network. The expansion to multiple blockchains signals a significant milestone for WMT as it continues its mission to provide global connectivity through its decentralized mobile network.
Stephen Richardson, Managing Director of Financial Markets at Fireblocks, stated that the collaboration aligns with Fireblocks’ goal of delivering top-tier security for digital asset management. He added that Fireblocks is proud to support World Mobile Token’s expansion efforts and facilitate a secure migration for WMT holders.
The migration portal opening marks an essential phase in WMT’s expansion, underscoring the company’s dedication to security and user experience. The collaboration with Fireblocks ensures token holders can migrate their assets securely while supporting WMT’s growing ecosystem. This partnership highlights WMT’s commitment to setting a new standard for token migration, focusing on security and accessibility for its users.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Cardano founder Charles Hoskinson has made another proposal for a Cardano-focused ecosystem treasury reserve, steering community reaction.
He has been persistently seeking ways to put the ecosystem’s dormant ADA treasury to work, with a suggestion in a July 8 X post becoming the latest proposition. Recall that he had earlier proposed using a portion of the stash to buy Bitcoin or a native stablecoin, teasing that it would boost Cardano DeFi and TVL.
New Proposal for Treasury Utility In the Tuesday tweet, Hoskinson sought the thoughts of the Cardano community on an ecosystem digital asset treasury containing ADA, Midnight, and the top 50 Cardano native tokens.
Notably, this proposal bears a resemblance to his initial suggestions, but this time, he has looked inward. Recall that his call to buy and hold Bitcoin as a treasury asset sparked widespread criticism, with skeptics alleging that a top 10 project has found solace in another major rival.
The proposal would see Cardano set up a treasury that includes the Midnight token and other high-ranking native tokens. Data from CoinGecko shows that some of the top Cardano ecosystems include SNEK meme coin, World Mobile Token (WMTYX), Liquid Finance (LQ), Minswap (MIN), and Indigo Protocol (INDY).
Top 50 Too Broad? Interestingly, the proposal started a community discussion as proponents shared their thoughts. Notably, a few users emphasized that the top 50 Cardano native tokens would encompass a lot of random tokens without intrinsic use cases.
A user stated that he is not a fan of using Cardano’s treasury to buy meme coins, while a few other reactions suggested that the proposal would be more productive if it focused on the top 20 or 25 Cardano-native tokens.
Comments On Hoskinson’s Proposal However, while a handful of the reactions supported the proposal or something similar, a few others disagreed. For instance, a user favored Hoskinson’s initial idea of a stablecoin investment, insisting that Cardano should fix its stablecoin liquidity issues.
Remarkably, Hoskinson’s proposals all aim at moving Cardano’s treasury from an unmanaged single-asset on-chain reserve to a multiple-coin off-chain treasury. He believes this would generate yield for the ecosystem and, in turn, boost reserves.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Strong acceptance in the United States, Asia, and Africa, bolstered by over 60,000 AirNode hardware devices that link communities directly to its blockchain-powered network. Its native token, would be listed on the U.S.-regulated cryptocurrency exchange Kraken on September 4—the asset’s first listing on a U.S. exchange. The decentralized wireless network World Mobile has surpassed two million daily active users, marking a significant milestone in its goal to increase global connectivity. The accomplishment comes at the same time as the announcement that World Mobile Token ($WMTX), its native token, would be listed on the U.S.-regulated cryptocurrency exchange Kraken on September 4—the asset’s first listing on a U.S. exchange.
Strong acceptance in the United States, Asia, and Africa, bolstered by over 60,000 AirNode hardware devices that link communities directly to its blockchain-powered network, has contributed to World Mobile’s user base expansion.
World Mobile Chain (WMC) uses $WMTX as its native gas token and functions as an EVM-compatible Layer 3 that settles on Base, guaranteeing that each user transaction on-chain directly contributes to network activity.
Micky Watkins, World Mobile Group CEO stated:
“Surpassing two million daily active users on-chain is a testament to the power of our decentralized approach. This milestone proves that our vision for an open, fair, and inclusive telecoms network is not just possible, it’s happening now.”
More liquidity and access to the World Mobile ecosystem will be made available to customers worldwide with the impending $WMTX listing on Kraken. The multi-utility asset at the core of the DePIN-powered telecom solution is $WMTX, the gas token of the World Mobile Chain, which also drives staking. World Mobile also has a buyback program in place, utilizing subscriber money to finance purchases of $WMTX from the open market.
Watkins added:
“Kraken’s decision to list $WMTX adds to the momentum building behind World Mobile Chain following its mainnet launch, while paving the way for further partnerships and integrations that will extend its utility. It’s a validation of everything we’ve been working towards, and will bring an influx of liquidity and users to power the next phase of World Mobile’s growth.”
In addition to connecting with Token Terminal, which provides data to Bloomberg and Binance, World Mobile has already drawn significant partners, such as PwC and DITO. To further improve transparency for institutional and retail customers, the platform now provides a dedicated dashboard that lists $WMTX metrics and other on-chain data points.
World Mobile is at the vanguard of on-chain adoption thanks to its strategy of community-owned nodes and blockchain-enabled infrastructure, which is predicted by the World Economic Forum to grow the DePIN industry to $3.5 trillion in three years. In order to be ready for a complete permissionless launch soon, the business is now enrolling builders and partners to its developer mainnet.
With its Decentralized Physical Infrastructure Network (DePIN), World Mobile is transforming global connectiivty by enabling people and communities to build, maintain, and profit from telecom infrastructure using blockchain-driven financial incentives. Visit https://worldmobile.io to find out more.
Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.
PANews reported on November 19th that Coinbase announced the inclusion of World Mobile Token (WMTX) in its listing roadmap and disclosed its contract address on the Base network as 0x3e31966d4f81C72D2a55310A6365A56A4393E98D. Coinbase stated that the listing of this asset depends on market-making support and the availability of technical infrastructure; a separate announcement will be made once these conditions are met.
Author: PA一线
This content is for market information only and is not investment advice.
