This week, we are seeing important developments such as updates to the Fantom ecosystem, a new version of the Stacks network, project listings, and airdrops. Here are the notable altcoin news and important dates for the week of December 16:
Sonic Labs (formerly Fantom) announced that it has produced the first block of transactions on its new blockchain. This step is seen as a critical step for the Layer-1 mainnet launch. Sonic is an EVM-compatible platform, promising to provide developers with strong infrastructure and attractive incentives. In addition, Sonic’s airdrop continues to increase interest in the network. The mainnet launch is coming soon, and s-token airdrops are expected.
The Avalanche ecosystem will be rolling out the Avalanche9000 update on Monday, December 16. This update will reduce the Avalanche L1 blockchain setup costs by 99.9% and reduce transaction costs on C-Chain by 25x. Additionally, the Avalanche9000 testnet will introduce the $40 million Retro9000 program, which includes a $2 million bounty aimed at supporting developers on Avalanche.
The Stacks (STX) network will launch its sBTC token on Tuesday, December 17. sBTC is a Bitcoin-backed token that is collateralized 1:1 on the Stacks network, allowing Bitcoin liquidity to access DeFi protocols on Stacks. This new integration will increase liquidity and open up new Bitcoin yield opportunities. Additionally, new financial opportunities are on the table to help grow Stacks’ DeFi ecosystem.
Zero1 Labs is shaping the future of decentralized AI with its platform that uses homomorphic encryption (FHE) technology. This technology ensures that data is processed securely while preserving privacy. The DEAI token makes it possible to trade within this ecosystem. It is also stated that DEAI has been approved for listing on the OKX exchange and is planning the network’s first airdrop. Zero1 Labs will collaborate with the Sei ecosystem to accelerate decentralized AI innovation.
The Cosmos ecosystem is planning to make major announcements between December 17-19. These announcements will include information about the role of its native token, ATOM. The Cosmos network made “revolutionary” developments last week and aimed to support the growth of its ecosystem by collaborating with the Interchain Foundation.
LayerZero will put the fee change proposal to a vote on Friday, December 20. This vote will allow community members to decide on the protocol fee and will be held every six months. ZRO holders will decide whether the protocol fee will be implemented or not.
The Arbitrum network will unlock 92.65 million ARB tokens at 1:00 PM on Monday, December 16. These tokens are worth approximately $91.15 million and represent 2% of ARB’s circulating supply. This development could trigger waves of volatility on the network.