Web3 Farming Game Pixels Launches its PIXEL Token
PIXEL token launches with a $441M cap, Bankman-Fried sports a new look in prison, and Ethena draws $300M with a novel yield strategy.
Welcome to the latest edition of Datawallet Daily. Here are the top stories that have been shaping the crypto landscape over the last 24 hours:
- Web3 Farming Game Pixels Launched its PIXEL Token
- Sam Bankman-Fried’s Prison Photo Unveils New Look
- Ethena Attacts $300M in TVL With Unique Yield Strategy
- Airdrop Hunters Begin Spamming GitHub in Hopes of Airdrops
Web3 Farming Game Pixels Launched its PIXEL Token
The crypto game Pixels launched its PIXEL token, reaching a $441M market cap post-airdrop to Ronin gamers. The token’s debut followed play-to-airdrop campaigns and a Binance Launchpool rewards program. With a current price of over $0.58, PIXEL ranks among the top 200 cryptocurrencies by market cap.
The game, reminiscent of Harvest Moon and Stardew Valley, operates on a crypto economy with NFT elements. Originally on Polygon, Pixels moved to Ronin, boosting its adoption. A surprise PIXEL airdrop to Ronin stakers and Binance’s listing of PIXEL contributed to its successful launch.
Our token, $PIXEL, is officially live on @Binance, the world’s largest crypto exchange 🔥
— Pixels (@pixels_online) February 19, 2024
We’ve been working towards this moment for over 2 years, and we couldn’t be more excited to share this massive milestone with you all.
This is just the beginning and the best is yet to… pic.twitter.com/G3MCCf0yMU
Sam Bankman-Fried’s Prison Photo Unveils New Look
In a recent photo from New York’s Metropolitan Detention Centre, former FTX CEO Sam Bankman-Fried appears with a new beard and slimmer figure, indicating a significant change from his pre-incarceration appearance. The image, shared by Tiffany Fong, marks the first visual of Bankman-Fried since his fraud conviction in August 2023. Insights from a former inmate, “G Lock,” suggest Bankman-Fried is adapting to prison life, showing resilience by not engaging in violence or betrayal.
First photo of Sam Bankman-Fried in jail at MDC Brooklyn. (December 17, 2023) pic.twitter.com/QlENjjmeQG
— Tiffany Fong (@TiffanyFong_) February 20, 2024
Ethena Attacts $300M in TVL With Unique Yield Strategy
Ethena, a DeFi platform, has drawn $300M by offering 27% annualized rewards on its USDe stablecoins, achieved by shorting Ether futures. With over $287M in USDe minted, the platform allows users to deposit stablecoins for USDe, which can be staked for yield, generated through Ether validator staking and shorting Ether futures.
Despite its success, the model has faced skepticism due to past failures of similar strategies and concerns over risk management. Ethena’s approach, reliant on high demand for long positions in Ether and negative funding rates, aims to maintain its yield strategy despite these challenges.
A lot of new eyes on Ethena today and people are right to point out the risks involved
— Conor Ryder (@ConorRyder) February 19, 2024
I wanted to take a sec to highlight some of the extensive work we've done surrounding the risks of the design, and specifically addressing funding risk
Before I get into the meat and veg… pic.twitter.com/zfuWMljkSB
Airdrop Hunters Begin Spamming GitHub in Hopes of Airdrops
Airdrop farming has escalated as enthusiasts spam GitHub, hoping for rewards from future token distributions, following lucrative airdrops by Celestia and Starknet. Over 1,000 comments flooded the Scroll GitHub repository over a single weekend, primarily from those aiming to secure a share in potential airdrops, burdening developers.
This trend, which started with on-chain activities, has shifted focus to GitHub contributions, particularly after the Starknet Foundation rewarded developers with part of its airdrop. While this activity highlights community engagement, it also strains project teams and detracts from meaningful contributions, despite the humorous upside of improved grammar in project repositories.
ICYMI: Airdrop farmers are now spamming GitHub in light of Starknet, Celestia distributionshttps://t.co/oMP41bQKqk
— The Block (@TheBlock__) February 19, 2024
Other breaking news
- Liquid Restaking Protocols Surpass $3.5B in TVL
- Bitcoin Order Books Reach October Levels, Near $540M Depth
- Binance to Close Many Leveraged Token Services
- Y Combinator Seeks Startups Building Stablecoin, Metaverse, AI Solutions
- FIL Soars as Filecoin Integrates With Solana
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