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Welcome to the final edition of Datawallet Daily for the week. As always, we’ve curated the must-know crypto stories from the last 24 hours just for you:
- Uniswap Fee Switch Proposal Sends UNI Token 65% Higher
- Telegram Game Notcoin Gathers 25M Players, Plans Real Token
- Andreessen Horowitz invests $100M in EigenLayer
- STRK Surges as StarkWare Delays Token Unlocks
Uniswap's Fee Switch Proposal Ignites a 65% Price Surge
The Uniswap Foundation has proposed a governance upgrade for the Uniswap Protocol to adjust its fee structure, directly rewarding UNI token holders. This proposal, designed to enable fee collection and distribution to staked and delegated UNI holders, led to a 65% price surge of the UNI token, marking its highest value in nearly two years. The initiative aims to maintain governance control over fee parameters while enhancing the protocol's governance model and decentralization efforts.
Erin Koen and Devin Walsh from the Uniswap Foundation are driving this upgrade to address the competitive challenges Uniswap faces and to stimulate more active governance participation. The proposed fee switch, aimed at rewarding UNI holders and encouraging participation in governance, has received strong community support, underlining its potential to positively impact Uniswap's market leadership and governance engagement.
Telegram Game Notcoin Gathers 25M Players, Plans Real Token
Notcoin, a game on Telegram where players “mine” virtual coins through tapping, has attracted over 25 million participants, despite initially offering no real-world value. Created by Sasha Plotvinov of Open Builders, the game has evolved from a memey, nihilistic time-killer to a platform on the verge of launching an actual on-chain token on The Open Network (TON).
Slated for release in late March or early April, this move aims to fairly distribute what might be considered a meme coin to its vast player base, emphasizing a transparent and equitable token launch strategy. Notcoin’s approach seeks to simplify and demystify the entry into the crypto space for millions, leveraging Telegram’s substantial user base for broader Web3 adoption.
Andreessen Horowitz Invests $100M in EigenLayer
Andreessen Horowitz has committed $100 million to the Ethereum restaking project EigenLayer, led by its a16z crypto fund. This Series B investment follows EigenLabs’ previous $50 million Series A, signaling significant confidence despite a broader venture funding slump. EigenLayer enhances Ethereum’s capabilities by enabling restaking of Ether and facilitating secure, third-party protocols.
This innovation could accelerate development in consensus mechanisms, virtual machines, and other blockchain technologies. EigenLayer’s progress includes a successful Ethereum mainnet integration and a growing total value locked, nearing $8 billion, showcasing its potential in the crypto ecosystem.
STRK Surges as StarkWare Delays Token Unlocks
StarkWare, the team behind Ethereum’s layer-2 solution Starknet, responded to community concerns by revising the unlocking schedule for its STRK token, leading to a 10% price surge. Initially, a substantial 13.4% of the 10 billion minted tokens were set to be released on April 15, but following feedback, this has been reduced to just 0.64%. The adjusted schedule now extends the unlocking period, with 0.64% of tokens being released monthly until March 2025, followed by a monthly release of 1.27% for the next 24 months.
This decision came after Starknet distributed over 700 million tokens in an airdrop, raising questions about the potential market impact of the planned token releases. Starknet utilizes zero-knowledge proofs to enhance Ethereum’s scalability, offering a more efficient and cost-effective platform for decentralized applications.
Other breaking news
- FTX’s $1B Stake Sale in AI Startup Anthropic Gets Judicial Approval
- Block, led by Jack Dorsey, sees $2.52B Bitcoin sales in Q4, up 37% YoY
- Kraken Seeks to Dismiss SEC Lawsuit
- PancakeSwap’s “Affiliate Expansion” Benefits Cake Holders
- Former US President Trump Now Accepts Bitcoin, Says He Can “Live with It”
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