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Solana (SOL) price rises as airdrops attract new users to the network

Solana price has rallied more than 50% this month as new projects conduct airdrops on SOL blockchain and high Ethereum fees push investors to seek cheaper alternatives. Over the past six months blockchain projects that have issued token airdrops have re-emerged. Most notably, the airdrops by Uniswap (UNI) and MEME will be remembered as recipients were rewarded with gains ranging from $20,000 to $600,000 simply for holding the tokens. One Ethereum (ETH) competitor that has seen numerous projects launch with airdrops in the past three weeks is Solana (SOL), an open-source project that focuses on utilizing blockchain technology to provide decentralized…

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Developer-focused DeFi aggregator Instadapp launches governance token

How does a DeFi aggregator capture value, and what does it mean for the INST token? In a blog post yesterday, decentralized finance (DeFi) management and protocol aggregator platform Instadapp announced the launch of their governance token, INST. While not currently transferable by the average user, the token is set to go fully live later in the year to coincide with a transfer of control over the protocol to a DAO governance process in Q2.  The project, which currently counts over $2.3 billion in its 18,000 “Smart Accounts” wallets, connects to a variety of DeFi protocols from a single interface…

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Instadapp Launches Governance Token, Introduces “DeFi Smart Layer”

Instadapp, one of DeFi’s most popular portfolio management tools, has announced its plans to launch a token.  Instadapp Ready for Token Launch  INST will be used to govern the Instadapp Protocol, which the team has described as a “DeFi Smart Layer.” The protocol aggregates DeFi in one layer and introduces Layer 2 integrations, as well as decentralized governance. Since announcing the DeFi Smart Layer in February, the smart contracts have been audited and deployed to Ethereum, the team’s blog post confirmed.  The revamped Instadapp offers several major extensions, including flash loans, collateral optimizers, authority management, market-making, automation, and Layer 2.…

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Airdrops, What They Are and How It Can Benefit You

They say there’s no such thing as a free lunch, but if you are lucky enough, there is such a thing as free coinage. Heard of Airdrops? It’s a marketing strategy employed by coin issuers to create a buzz around their tokens. They do this by literally giving out free coins to those with wallet Read More

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DeversiFi DEX Announces New Token and Airdrop

DeversiFi, a layer 2 DEX backed by Bitfinex, ConsenSys, and Ledger, has announced a new governance token and airdrop. DeversiFi Token Expected Later This Year DeversiFi, previously Ethfinex, has introduced DeversiFi Token (DVF), an ERC-20 governance token for its scalable DEX built on StarkWare. DeversiFi Token (DVF) will have a total supply of 100 million, according to the token contract shared in the official blog post. The team says it would give out ~50% of the token supply as rewards to liquidity miners and traders to incentivize adoption. The new DVF tokens will need to be staked on the DEX…

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Defi Token Exposed as Pump and Dump Scam in Leaked Telegram Chat 

A leaked Telegram discussion by 50 so-called crypto influencers has exposed the extraordinary steps they take in order to profit on the back off unsuspecting defi investors. According to a leaked screenshot of the chat, an elaborate plan to defraud defi investors using the worthless “$Few” tokens had been hatched. $Few tokens would be airdropped to some of the influencers who in turn promoted these to unsuspecting followers on Twitter. Once the “new flash mob project” gained traction, members of this conspiracy planned to sell the “airdropped” tokens to defi investors and thus make a profit in the process. According…

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SBTC Plummets by 99% as Devs Announce Dissolution of Token

The price of SBTC plunged by nearly 98% in just over an hour on September 21 as devs announced the dissolution of the token. The dissolution announcement came more than a month after the token reached an all-time high of $5.07. At the time of writing, the token was quoted at $0.007 down from $0.64. In a short announcement issued via a Discord group, the SBTC team said they are no longer proceeding with the project while thanking those that stuck with the project until the end. According to information on Coinmarketcap, creators of the SBTC aimed to peg the…

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Was The Uniswap Airdrop Fair? Dharma, 1inch.exchange Have a Few Suggestions

DeFi wallet Dharma is spearheading a proposal for Uniswap to expand the scope of its token airdrop to addresses that used the DEX indirectly. While rewarding all of Uniswap’s users is an optimal scenario, certain drawbacks make this tough to enact. Two Sides to the Uniswap Airdrop While DeFi users reveled in joy at the sight of 400 free UNI tokens, DEX aggregators and their customers are displeased with the airdrop. Uniswap’s distribution was designed to provide every address that interacted with the network 400 UNI. But this was only for users that directly interacted with the DEX’s smart contracts.…

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Sushiswap’s 2 Million Token Airdrop: Founders Face Accusations of ‘Making Defi a Joke Again’

Sushiswap’s new leader and FTX CEO Sam Bankman-Fried tweeted on September 12 that the promised 2 million token airdrop would go on as scheduled. The process was expected to last up to two hours or less depending on network congestion. The airdrop caps an eventful week for Sushiswap that started with the reported ‘exit scam’ by co-founder Chef Nomi and the return of the $14 million worth of ETH. After initially defending his actions that are believed to have caused the price of the decentralized finance (defi) token to crash, Chef Nomi made the surprise decision. Furthermore, the still anonymous…

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Prepping for an Airdrop: Prominent BCH Community Members Bid Bitcoin ABC Devs Farewell 

On August 18, 2020, the Bitcoin ABC development team announced a “feature freeze,” which will include a new Infrastructure Funding Plan (IFP) and a week later explained it was also initiating a “governance council.” Despite the recent announcements, Bitcoin ABC has lost considerable support and it appears the project will separate from Bitcoin Cash come November 15. During the last few weeks, there’s been a lot of contention among the Bitcoin Cash (BCH) community. The controversy really heated up after the Bitcoin ABC development team decided to adopt Jonathan Toomim’s ASERT Difficulty Adjustment Algorithm (DAA), but also included the controversial…

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Binance Launches $16M+ SXP Airdrop for BNB Holders on Binance

Binance introduces a new way for Binance Coin (BNB) holders to earn extra cryptocurrency with an SXP airdrop for the next 12 months. The special airdrop for BNB holders on Binance.com means that, for everyone holding at least 0.1 BNB, they will get free SXP every week for the next 12 weeks. What is an Airdrop? An airdrop is the distribution of a token for a group of users who hold a particular token or being an active address on a Blockchain. Mostly part of a marketing campaign, airdrops are used to make more people of the project or reward…

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TON Spin-Off Project Launches Testnet And Token Airdrop In China

A TON Spin-off project launches its testnet and token airdrop in China as the official Telegram Open Network is preparing to shut down on August 1st. Following the latest reports coming in the best cryptocurrency news sites, the latest spin-off project announced its testnet is now live. TONCommunity.org is one of the few spin-offs on Telegram’s unlaunched blockchain networks that has announced its testnet now live. After announcing plans for a separate TON network back in May, the TONCommunity.org launched the testnet on July 28th as the project’s founder Tooz Wu explained. Alongside the testnet launch, the TON spin-off project…

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China’s TON Spin-Off Launches Testnet and Token Airdrop

As the official Telegram Open Network is being prepared to shut down on Aug. 1, global TON technology projects continue progressing. TONCommunity.org, one of the multiple spin-offs of Telegram’s unlaunched blockchain network, has announced that its tetsnet is now live.After announcing plans for a separate TON network in late May, TONCommunity.org launched the testnet on July 28, the project’s founder Tooz Wu told Cointelegraph.Official TON testnet to shut down by Aug. 1Alongside the testnet launch, TONCommunity.org is holding an airdrop of mainnet tokens, known as “TONcoins.” The latest airdrop is available for all Telegram users and features 10 million TONcoins,…

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