News summarizing the blockchain & cryptocurrency market – May 20
Fantom (FTM) announces more details about new blockchain Sonic Network (S), promising airdrops
Fantom (FTM) has just announced information about the new blockchain Sonic Network (S), developed on the Sonic technology platform to replace the old Opera version. Once Sonic is deployed, FTM holders can redeem 1:1 for S tokens on the new network.
Sonic promises processing speed of 2,000 transactions/second, connection to Ethereum and EVM blockchains, support for staking, liquid staking, funding DeFi, AI, SocialFi development. In particular, the project will have an S token airdrop program for users.
Sonic deployment time is expected to be late summer, early fall 2024. In the near future, the Fantom community will be able to contribute ideas to this proposal.
Oklahoma Passes Bill to Protect “Bitcoin Fundamental Rights”
The state of Oklahoma, USA, passed bill “OKHB3594” in May 2024, protecting people's basic rights related to Bitcoin and digital assets. The law will take effect from November 2024, granting people the right to self-storage, use digital currency without taxes or additional fees, mine coins at home, and operate the mining/staking model without any fees. requires a license, and is not subject to “discriminatory” electricity prices against digital asset mining businesses.
LayerZero begins the "sybil hunting" phase after receiving more than 800,000 "surrendered" addresses.
After ending phase 1 of the “sybil hunting” campaign, LayerZero received 803,903 wallet addresses that self-reported sybil behavior. LayerZero will allow these addresses to retain 15% of the tokens. From May 18 to June 1, 2024, LayerZero will deploy phase 2, allowing users to report airdrop hunting to receive 10% of the token amount for fraudulent addresses. LayerZero also partnered with Nansen and Chaos Labs to support this campaign.
zkSync "hidden" about the possibility of an airdrop at the end of June
The layer-2 zkSync project will upgrade to version v24 at the end of June 2024 to enhance decentralization, this is considered the final step before handing over governance rights to the community. Many people predict this will be the time zkSync releases tokens, to create a mechanism for users to participate in governance.
zkSync will deploy mainnet from March 2024 and commit to issuing tokens within 1 year. Thanks to airdrop expectations, the project's TVL reached nearly 200 million USD before decreasing to 141 million USD.
The time zkSync announces the airdrop will likely be close to the end of the evaluation of LayerZero's sybil wallet list and Blast's airdrop, which is said to be attracting the attention of airdrop makers.
