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What is Renzo Protocol? The Liquid Restaking Primitive Explained

Published

7 months ago

28 April, 2024

What is Renzo Protocol? The Liquid Restaking Primitive Explained

Ethereum’s network has been the home of many narratives throughout the years, and liquid restaking is undoubtedly one to look into.

You might be confused by the term liquid restaking, and that’s completely understandable. After all, another popular narrative is centered around liquid staking.

Before we dive into the intricacies of the Renzo Protocol, which is the ultimate purpose of this guide, it’s essential to understand a few fundamental principles first.

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What’s the difference between Liquid Staking and Liquid Restaking?

Let’s keep it simple. Both of these involve some sort of staking, which is the process of taking your tokens (we will use ETH as an example throughout the entire guide) and locking them within a protocol to serve a certain purpose. For this, you will receive a reward (in the form of interest).

Liquid Staking Tokens (LST)

Liquid staking is a process where you stake your ETH in protocols, which in turn mint a synthetic representation of your ETH – that’s called a liquid staking token (LST). The purpose of your ETH, however, is always to increase the economic security of Ethereum. It’s staked to validate and secure the Ethereum network. The term “liquid” comes from the fact that the synthetic asset that you receive can then be used in various DeFi initiatives that you find fit.

The base protocol here is Ethereum, and there are different LST protocols such as Rocket Pool, Lido, Binance ETH, Mantle ETH, and so forth.

Liquid Restaking Tokens (LRT)

With liquid restaking, the purpose of your staked ETH is to increase the economic security of external systems. These can be Oracle networks, Rollups, and whatnot. So, you will still stake your ETH within a certain protocol, and you will once again receive a synthetic representation of your tokens called a liquid restaking token (LRT), but the purpose is different.

The base protocol here is EigenLayer. Some of the top LRT protocols include Renzo, Eigenpie, Kelp DAO, Puffer, ether.fi, and others.

Important note: both LSTs and LRTs are pegged to ETH in a 1:1 manner, and you should always be able to redeem your synthetic tokens for the ETH you’ve staked.

Here’s a table to visualize the above:

Source: CryptoPotato

What is EigenLayer?

Now that you know what LRTs are, let’s quickly explain the role of EigenLayer in all this. This is important for our guide because Renzo Protocol is essentially a Liquid Restaking Token and a strategy manager for EigenLayer. Don’t worry. It will make more sense in a moment.

EigenLayer is a protocol that’s built on Ethereum, and it was the first to introduce restaking as a primitive. Through that protocol, users are able to repurpose their ETH on the consensus layer. They are now able to opt-in to EigenLayer smart contracts and restake their ETH to increase the crypto-economic security of other applications on the network.

It’s essentially a middle layer where users agree to grant EigenLayer more enforcement rights on their staked ETH. This then allows the protocol to restake the ETH on other applications.

These applications can be rollups, oracle chains, or pretty much any application that is based on similar cryptoeconomic principles. They are called Actively Validated Services (AVS). These are very important to understand the purpose of the Renzo Protocol.

Understanding Actively Validated Services (AVS)

In essence, an AVS is any system that has a requirement for distributed validation for verification. These can be sidechains, bridges, keeper networks, data availability layers, oracle networks, and so forth.

To put it in very simple terms, your staked ETH is being restaked to secure these AVSs. But since each AVS is different and it might come with inherently variable risk profiles, the rewards are also different (you get rewards for staking and restaking, remember?) So, which AVS should you direct your tokens to, and what’s the best strategy?

This is where the Renzo Protocol comes in.

What is Renzo Protocol?

Renzo is a platform that’s built on EigenLayer and basically serves as an interface to its ecosystem. It uses a combination of operator nodes and smart contracts to make sure that its users get the best risk/reward restaking strategy.

We know this can be quite confusing, so let’s try to break it down even further.

Understanding restaking strategies

Now that you know what EigenLayer is and what LRTs are let’s attempt to simplify even more what Renzo does.

As we already explained, the AVSs in EigenLayer are any sort of decentralized service looking to inherit Ethereum’s security. A restaking strategy is, then, a position where you (the user) decide to secure any of the many available AVSs. You can also make all sorts of combinations. The number of possible strategies, however, increases with the number of available AVSs.

This makes it hard to choose the one which will bring the best risk/reward ratio. This is what Renzo does. It simplifies this process and makes the choice for you, ensuring the best R:R ratio.

Understanding ezETH

ezETH is the Liquid Restaking Token (LRT) of the Renzo Protocol. It represents the user’s restaked position at Renzo.

Users are able to stake native ETH or liquid staking tokens (LSTs), such as wBETH and stETH, and receive ezETH.

An important factor here is that ezETH is a reward-bearing token. As such, its value can increase relative to the underlying tokens, as it yields more rewards because of its usage in AVSs.

Renzo has also integrated with Pendle Finance, where a new token is created through a single contract – EIP5115 SY Token. It represents ezETH at a 1:1 ratio, but it can also be tokenized in principal tokens and yield tokens for those who want to do that.

Restaking with Renzo Protocol: Step-by-Step Guide

Now that you have a fundamental understanding of how the Renzo protocol works, let’s find out how to actually use it in practice.

Step 1: You will need some ETH (or LSTs such as stETH) in your MetaMask wallet.

Step 2: Visit the Renzo Protocol restaking dashboard and connect your wallet.

Step 3: You will be able to choose between the different ecosystems, as well as between native ETH or any other LSTs that are supported. These include wBETH (Binance Staked Ether) and stETH (Lido Staked Ether) for Ethereum.

Step 4: In our case, we will restake native ETH.

Step 5: Enter the amount you wish to stake and hit “Confirm.”

Step 6: Confirm the transaction from the interface.

Step 7: Confirm the transaction from your wallet.

Step 8: Head to the Portfolio tab where you’ll be able to view your earned points and rewards.

And you’re done!

Please note that withdrawals are currently disabled. Users will be able to withdraw their deposited ETH following a so-called cooldown period, to be determined by the team. However, ezETH is traded on secondary markets so you can always swap it on DEXs.

ezPoints: Everything You Need to Know

Renzo’s points (ezPoints) are designed to reward users who actively participate and contribute to the success of the protocol. Every participant receives points but their number varies based on the duration and the nature of this participation.

Holding ezETH, for instance, rewards ezPoints. Every ezETH holder receives 1 Renzo ezPoint per hour per 1 ezETH. Early participation is also rewarded, while users who hold more ezETH receive more points, based on different boosts such as these:

Source: Renzo Protocol

ezPoints determine the number of REZ tokens a user will receive following the token generation event, which brings us to the next point.

The REZ Token in Depth

Imperative to Renzo’s commitment to decentralization is the REZ token – a cryptocurrency that’s designed to power the governance of the protocol.

Utility

REZ is the native governance token for the protocol. Holders of REZ will be able to vote on governance proposals regarding various matters, including but not limited to:

Operator whitelisting
Actively Validated Services whitelisting
Frameworks for general risk management
Community and treasury grants
Concentration amounts, collateral assets, deposits, etc.

Tokenomics

The total supply of REZ tokens is capped at 10,000,000,000.

The initial circulating supply (listing on April 30th) will be 1,150,000,000.

You can find the contract here.

Token Distribution

Fundraising: 31.56%

These tokens are for the project’s early investors.

Community: 32%

7% will be for Season 1 airdrop rewards based on the earned ezPoints.
Various community campaigns
5% allocated towards second season of incentives

Core Contributors: 20%

Distribution to Renzo Labs’ team and advisors

Foundation: 12.44%

Binance Launchpool: 2.5%

Liquidity: 1.5%

Token Release Schedule

The token release schedule looks like this:

Source: Binance

The Renzo (REZ) Airdrop

The REZ airdrop has been a much-anticipated event for community members who have been farming ezPoints since their announcement.

As stated above, 7% of the total supply will be distributed for Season 1 airdrop rewards based on the user’s earned ezPoints.

Here are the airdrop eligibility criteria:

You need minimum 360 ezPoints per wallet.
Most of the eligible wallets, accounting for over 99% of the total, will be fully unlocked at TGE.
This doesn’t apply to larger wallets. Those who have more than 500,000 ezPoints will see 50% unlocked at TGE and the rest vested linearly over 3 months.

The snapshot date is April 26th, 2024, while the claim date will be on April 30th. The claim window will open an hour before the listing on Binance, which is at 12:00 (UTC).

There will also be a Season 2 with undisclosed dates for now. It will receive 5% of the total supply.

The Team

Lucas Kozinski is part of the founding team at Renzo Protocol. He comes with rich background in the crypto industry, having previously worked at lending and borrowing app Moonwell, TokenSoft, and the Tezos Foundation.

James Coole is another founding contributor at Renzo. He had previously co-founded TokenSoft, where he served as the Chief Technology Officer for five years.

Kratik Lodha is also listed as one of the founding contributors. His background consists of multiple analytic positions in various funds such as the Woodstock Funds, WorldQuant, Equity Research, and others.

Investors

In January 2024, Renzo disclosed a $3.2 million seed round led by Maven11. Other participants included IOSG Ventures, Figment Capital, SevenX Ventures, and more.

According to its official website, investors also include Binance Labs, OKX Ventures, Mantle, Edessa Capital, BODHI Ventures, Robot Ventures, Re7Capital, and others.

Participating in the Binance Launchpool for Renzo Protocol (REZ)

The Binance Launchpool campaign will last until April 30th. Trading will start at 12:00 (UTC).

To participate, you will need a Binance account. If you don’t have one, you can create it using this link. You will also need to complete your KYC verification. The whole process takes no more than a few minutes.

Step 1: Locating the Launchpool Section

Once you have your account prepared, you will need to navigate to the Launchpad & Launchpool section from the top navigation menu (if you’re on Desktop).

renzo_binance_launchpool_1

Step 2: Selecting a Pool

Once there, the Renzo launchpool will appear as the latest one, and you will have to choose which pool you want to join. For REZ, there are two pools:

For the sake of this guide, we will choose the FDUSD Pool. You will be staking FDUSD to receive rewards in REZ.

Click on “Stake.”

Step 3: Staking the Selected Cryptocurrency

You will be taken to a new window, where you will be able to monitor all the information for the pool you’ve selected. This includes total pool rewards, maximum hourly rewards, how many people participate, how much is staked, and so forth. Here, you will also be able to track your rewards and claim once the claiming window opens.

You will once again have to click on “Stake.”

After that, all you need to do is input the amount you wish to stake and, you guessed it, click “Stake” again.

Step 4: Claim Your Rewards When Possible

Rewards are calculated hourly, so once enough time has passed, you will see the claimable amount appear under the “My Rewards” tab on the page. You can claim them, but you will only be able to trade REZ once the listing takes place on April 30th.

That’s a Wrap

Renzo Protocol has managed to attract a lot of attention through its considerable growth in a relatively short period of time. The liquid restaking narrative is also one of the more interesting trends in 2024, with EigenLayer booming in both usage and popularity.

The protocol provides an easy-to-use way to earn a yield on otherwise dormant tokens, but there are also certain risks involved.

While Renzo does what it can to ensure security, it’s also highly advisable for every user to do extensive research, assess their risk profile, and—if needed—even consult with a professional before making any financial decisions.

The above post is powered by Renzo Protocol.

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News

Top 5 Crypto Pre-Sales for August 2024

Published

4 months ago

1 August, 2024

TokenTalk Staff

Have you heard about cryptocurrencies in 2011? Was Bitcoin so popular back then? Well, yes, some forward-thinking people saw its potential early and invested in BTC back then. Investors were skeptical about this new financial element; however, many took the risk and invested what they could risk in the cryptocurrency market.

Going through the list of top presales, we have identified and studied five of the main candidates that can change the game on the trading charts. These new opportunities promise the best returns and a great chance to buy tokens at affordable prices. While 5thScape is at the top of our recommendation, projects like DarkLume and Artemis Coin are pioneers in their respective categories.

Top 5 Crypto Pre-Sales to Add to Your Watchlist in 2024

Below we present the top five cryptocurrency pre-sales that you should consider adding to your investment watchlist.

5th Landscape (5SCAPE) – King of digital VR gaming with AR/VR elements
Dark light (DLUME) – Virtual Metaverse for Social Exploration
SpacePay (SPY) – Versatile Financial Payment Gateway for Seamless Transactions
EarthMeta (EMT) – Replicating our planet on a virtual platform
Artemis Coin (ARTMS) – NFT Marketplace for Digital Real Estate Investment

In-Depth Review: The Best Crypto Pre-Sales of 2024

Now, let’s take a closer look at these pre-sale events and how they can help investors make significant profits this year.

5th Landscape (5SCAPE)

The 5thScape project combines emerging technology using the fundamentals of virtual and augmented reality on the Ethereum platform using its native currency as 5SCAPE. Users of the token experience increased security and interactive gameplay in the digital space.

Here are the potential reasons why investors are admiring the 5thScape ecosystem:

Immersive Gameplay: With over five game titles, the platform is ready to amaze the audience with games ranging from archery, sports, battle and high-speed racing.

Innovative VR Content: 5thScape’s progress in the crypto-gaming space will contribute to the development of educational resources and other VR content on the website.

Motion Control Gadgets: This project is working hard to introduce VR devices such as headsets and gaming chairs with precise controls and high-resolution soundscapes to achieve the best immersive feeling while exploring the ecosystem.

Practical utility: 5SCAPE tokens stimulate participation in various activities and convert the ecosystem into economic value for investors.

Staking Opportunities: Acquiring 5SCAPE tokens after listing on exchanges can generate higher earnings

Free Giveaways and Prizes: The distribution of free coins and VR subscriptions attract investors.

Visit 5thScape for more details>>

Dark Light (DLUME)

We just saw how 5thScape captures investors with its AR/VR digital landscape. DarkLume works on similar VR principles but has a completely new VR metaverse. Its presale is about to hit the $1 million mark and simultaneously increase fund inflows.

What are the specifics that allow DarkLume to lead the metaverse industry?

Native currency: The project has DLUME as a digital currency that can be used for in-game purchases or upgrades. These utility tokens also give their holders the right to vote on the development and expansion of the project.

Benefits of staking: Investors who want to hold and earn from this currency expect to multiply their funds after the stock market listing.

Exploratory Metaverse: Once you enter this world, there is no turning back. There are so many opportunities to find recreational activities and relieve stress. Walking through lush landscapes and stargazing at night can be a memorable experience. If you are a party animal, DarkLume’s virtual discos and clubs will win you over.

Visit DarkLume for more details>>

Payment for space (SPY)

Traditional financial setups face many challenges in daily transactions and are also expensive. To solve these concerns, Maxwell Bunting founded SpacePay by combining cryptocurrency payments and blockchain technology. The London-based startup makes online shopping and payments more seamless by integrating its network with existing card terminals, allowing users to make payments in any digital currency. Merchants can choose to receive payments in conventional currency without having to pay exorbitantly.

SpacePay has designed a user-friendly and convenient interface that supports over 325 crypto wallets. SPY, the native token of this platform, serves to enable all transactions within its ecosystem. Tokens can also be used to generate passive income through staking and additional community rewards.

EarthMeta (EMT)

EarthMeta is a virtual metaverse created to replicate our planet, Earth. It is listed as one of the best crypto pre-sales of 2024, with a focus on creating new NFT platforms and virtual assets in premium cities. The startup encourages users to own and govern virtual landscapes.

Cities are then further broken down into smaller assets such as landmarks, buildings, monuments, parks, schools, and more. NFTs can now be bought and sold in the project’s marketplace. Governors are eligible to earn 1% fees per transaction within their city. EMT token holders can also generate more at once with custom API integrations and participation in DAO activities.

Artemis (ARTMS)

Today we have covered a number of financial projects that you can consider along with 5thScape, the most promising VR coins of the decade. Artemis (ARTMS) is a financial platform that allows investors to transact and trade using its digital asset, ARTMS. Users can also lend, borrow, stake, save, and generate rewards from yield farming.

The project is about to enter Phase 4 of development which will see the launch of the Artemis Crypto System. This system is customized to facilitate a large number of secure and transparent crypto transactions. Cryptocurrency enthusiasts and professional entities can buy and sell products such as smartphones, bicycles and internet services using crypto payments. Early investors have great advantages until the project is available at a discounted price in the pre-sale.

Read this before investing in the next cryptocurrency market

Experienced investors know the factors to consider before investing in this dynamic market. Here are some points that beginners should remember before securing a position in the cryptocurrency universe.

It is essential to verify the project details and the founders.
Read and understand the whitepaper for all the technical information about the ICO, the roadmap and the mission of the project.
The project roadmap will provide greater clarity on milestones and results achieved.
Review the fundamentals of the new technologies involved in the development of the platform.
Before investing in any cryptocurrency, carefully evaluate the benefits and risks to avoid losses and build a profitable portfolio.

Conclusion

5thScape ICO Offers Tokens at Deeply Discounted Prices. Once the presale is over, the token price will skyrocket 434% from the first round and promise 600x returns to early investors. Who wouldn’t want to be part of an innovative and growing VR ecosystem? Check your details, review all the documents and start investing in 5thScape now.

Time flies, and so does the $100,000 prize.

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Best Upcoming Cryptocurrencies for Long-Term Profits: Turn $100 Into $1000 With These Picks

Published

4 months ago

1 August, 2024

TokenTalk Staff

Have you ever wondered how much return Bitcoin has given to investors who bought this gold cryptocurrency a decade ago? In 2014, Bitcoin reached its significant milestone of $1,000 in the first month. Currently, it is trading at around $64k, which is an astonishing 6300% increase in the span of 10 years. No stock, no ETF could ever give you such monumental returns. This simply proves that the cryptocurrency market turns your dreams of investment returns into reality.

While the established giants are not giving so much returns now, the ball is in the court of upcoming cryptocurrencies that are based on the development of projects to provide up to 1000x returns in the near future. In this article, we will explore 5 upcoming cryptocurrencies for long-term earnings that can turn your $100 into $1000 – the only key is strategic investing with a lot of patience!

Best Upcoming Cryptocurrencies For Long Term Profits

Below we list the top 5 cryptocurrencies for long-term gains, which are set to give you returns of up to 1000 times in the coming times.

5th Landscape (5LANDSCAPE)
Dark light (DISGUST)
BlockDAG (BDAG)
eTukTuk (TUK)
WienerAI (WAI)

Take a deeper look at the background of these 5 upcoming cryptocurrencies for long-term gains and see why they could be viable options for your cryptocurrency portfolio.

1. 5° Landscape (5SCAPE)

5thScape is changing the face of entertainment by merging augmented and virtual reality with blockchain technology, offering a VR content ecosystem unlike any other destination on the internet. Its native token, 5SCAPE, is the cornerstone of this innovative ecosystem. With a limited supply of 5.21 billion tokens, 5SCAPE offers early investors a unique opportunity to participate in the growth of a potentially transformative platform.

Combining the immersive experiences of VR technology with a cryptocurrency that has a real-world use case, 5thScape presents a compelling investment proposition. The project’s focus on providing unparalleled user experiences, coupled with its potential to generate substantial returns, makes 5SCAPE an ideal new cryptocurrency to have in your portfolio for long-term gains.

Click here to invest in 5thScape today >>

2. DarkLume (DLUME)

DarkLume is a meticulously crafted metaverse where users can experience a lavish digital lifestyle. At its core is the DLUME token, the currency that powers this virtual economy. By owning DLUME, users gain access to exclusive experiences, from owning virtual properties to attending high-society events and hosting virtual celebrations with their friends.

The metaverse is divided into virtual countries, each with its own citizenship requirements. To become a citizen, users must possess a specific amount of DLUME. Maintaining citizenship involves paying taxes in DLUME and creating a sense of community and responsibility among users.

Unlike other metaverse platforms that are limited to digital interactions only, DarkLume offers a wide range of activities, from leisure and entertainment to social interactions and exciting experiences. The platform’s focus on luxury ensures that every aspect of the metaverse is designed to exceed expectations. As DarkLume continues to grow, its DLUME token is expected to be in high demand. The metaverse concept is supported by renowned names such as Mark Zuckerberg and Satya Nadella. As it is the future of immersive socialization, the DLUME token is expected to appreciate in value over time.

Explore DarkLume’s website to learn more

3. BlockDAG (BDAG)

BlockDAG is an innovative blockchain platform that uses a Directed Acyclic Graph (DAG) structure together with blockchain technology to offer fast transaction speeds, lower fees, and better scalability.

Unlike traditional blockchains that process transactions sequentially, BlockDAG processes them in parallel, which allows it to handle a much higher transaction volume. This approach makes BlockDAG an ideal platform for applications that require high throughput and low latency, such as DeFi, gaming, and IoT. Its presale has been a great success so far, and BlockDAG’s adaptability may be an optimistic sign for early investors in the BDAG token.

4. eTukTuk (TUK)

eTukTuk is a new leading crypto project that combines sustainable transportation with blockchain technology. Its main goal is to electrify the famous “tuk-tuk” industry, reducing carbon emissions that cause environmental damage while creating a thriving ecosystem. Its TUK token powers the entire platform.

One of the most notable features of eTukTuk is its Play-to-Earn (P2E) gameplay. Players can earn TUK tokens by completing challenges and missions in the game. This gamified approach not only makes the platform engaging but also incentivizes user participation in building the eTukTuk ecosystem. The primary utility of the TUK token is as a mode of payment for tuk-tuk drivers who use EV charging stations for their vehicles installed across Sri Lanka. The project will soon expand to other countries.

Overall, the value proposition of the TUK crypto token is strengthened by its utility within the platform. It can be used to purchase electric tuk-tuks, charge them at the network’s charging stations, and access various platform services. As eTukTuk adoption grows, demand for TUK tokens is expected to increase, potentially resulting in significant appreciation in the token’s value.

5. WienerAI (WAI)

WienerAI is a new blockchain-based platform that uses next-generation artificial intelligence (AI) technology to transform the cryptocurrency trading space. Its flagship product is an AI trading bot (with a sausage-themed mascot) designed to analyze market trends, identify potential opportunities, and execute trades with zero errors. With the power of AI, WienerAI provides users with a market edge in the complex and dynamic world of investing.

The platform’s native WAI token is a digital asset that underpins the entire ecosystem. Token holders can enjoy various benefits, including discounted trading fees, priority access to new features, and even a share of the platform’s profits. As WienerAI gains traction and its AI trading bot proves successful, the continued flow of demand for the WAI token will fuel its price.

Final Thoughts: Best Cryptocurrencies for Long-Term Profits

Each cryptocurrency project explored in this article brings a unique and innovative perspective to the blockchain industry. From the immersive worlds of 5thScape and DarkLume to the efficiency gains of BlockDAG and the sustainability focus of eTukTuk, not to mention WienerAI’s AI-powered trading bot with a new approach to investing, these projects are pushing the boundaries of what’s possible with blockchain technology.

While all of these projects are promising, 5thScape and DarkLume stand out as particularly interesting investment opportunities. The combination of 5thScape’s robust VR ecosystem tokenomics and unique AR/VR offeringstogether with the fantasy world of the DarkLume metaversehas the potential to appeal to a wide range of investors who may be entertainment lovers, not just cryptocurrency enthusiasts. Given their current presale stages, acquiring 5SCAPE and DLUME tokens at these early-bird prices could prove to be a strategic move for those seeking substantial returns.

This is a sponsored article. The opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on the information presented in this article.

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Avalanche Predicts ‘Most Bullish Unlock’ in Broader Market $1 Billion in Token Release

Published

4 months ago

1 August, 2024

TokenTalk Staff

Avalanche anticipates ‘most bullish unlock’ amid broader market $1 billion in token release

Token Unlocks data shows that several crypto projects:AvalancheWormhole, Aptos, SandboxArbitrum, Optimism and others are set to unlock around $1 billion worth of tokens in August.

Approximately $260 million will be allocated in the first three days of the month.

Crypto projects often schedule token unlocks to control the asset supply and prevent market oversaturation. This gradual release helps avoid significant sell-offs by early investors or team members who hold large amounts of crypto assets.

Wormhole and Avalanche to Release Over $400 Million in Tokens

The biggest news this month will be Wormhole and Avalanche.

On August 3rd, Hole in the walla cross-chain messaging protocol, will release 600 million tokens worth $151.67 million, or 33.33% of its circulating supply.

Avalanche will follow on August 20, unlocking 9.54 million AVAX tokens worth approximately $251 million, or 2.42% of its circulating supply.

The Token Unlocks dashboard shows that 4.5 million AVAX, worth $118.53 million, will go to the Avalanche team, 2.25 million AVAX, worth $59.27 million, will go to strategic partners, and the remainder will go to the Foundation and as an airdrop.

Farid Rached, former head of ecosystem growth at Avalanche, underlined that this planned unlock would be the most bullish in its history because “it is the last big step for the team and public/private investors.”

Other important unlocks

Sui, a layer 1 network, will unlock 64 million tokens worth $50 million, or 2.56% of its circulating supply, on August 1.

Similarly, decentralized exchange dYdX will issue 8.33 million tokens worth nearly $11 million, or 3.65% of its circulating supply. These tokens will be distributed to investors, founders, staff, and future employees.

Aptos will unlock 11.31 million APT tokens worth $74.64 million on August 12. These will be allocated to the Aptos community, top contributors, the foundation, and investors, with top contributors receiving the largest share: 3.96 million APT worth $26 million.

On August 14, Sandbox will release 205.6 million SAND tokens worth $66.75 million. This issuance will be split between the team, advisors, and a corporate reserve.

Finally, Ethereum’s layer 2 networks Referee AND Optimism will collectively unlock over $110 million worth of tokens by August 16 and 31, respectively.

Mentioned in this article

Posted in: Avalanche, Tokens

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Big Tech Beats Bitcoin (BTC) as Trump’s Trade Cancellation Weakens Token

Published

4 months ago

1 August, 2024

TokenTalk Staff

Big Tech Beats Bitcoin (BTC) as Trump's Trade Cancellation Weakens Token

Bitcoin has failed to join the cross-asset rally fueled by dovish comments from the Federal Reserve, as the tight US election race casts doubt on Donald Trump’s ability to implement his pro-cryptocurrency agenda.

The digital asset slipped 2.4% on Wednesday, tracking a Fed-fueled surge in an index of the Magnificent Seven large-cap tech stocks by one of the widest margins in 2024. The token fell further on Thursday, changing hands at $63,750 by 6:10 a.m. in London.

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