Restaking protocol EigenLayer is handing out an extra 100 EIGEN to 280,000 qualifying wallet addresses after criticism over its first airdrop. On April 29th, EigenLayer announced it would allocate 15% of its total supply to the community, but some users deemed several provisions of its airdrop program as restrictive. On May 2nd, The Eigen Foundation…
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Two bipartisan U.S. lawmakers, Representatives Drew Ferguson and Wiley Nickel, have proposed the Providing Tax Clarity for Digital Assets Act to address taxation issues related to block rewards earned by crypto miners. The bill aims to clarify the tax treatment of staking rewards, proposing that they should only be taxed at the time of their…
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Although decentralized finance (defi) continues to evolve, it is being perceived as the domain of a select few, Mehdi Lebbar, the co-founder of the investment platform Exponential, says. However, he argues that defi protocols can alter this perception by emphasizing user education. Lebbar contends that regular educational newsletters, explainer videos, and social media posts can…
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BNB Chain, one of the largest smart contracts-enabled ecosystems in the crypto environment, has announced the inclusion of native liquid staking in its BSC blockchain. The new feature aims to allow validators to secure the network and maintain the liquidity of its assets while the ecosystem abandons the Beacon chain. BNB Chain Evolves Into a…
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Solana developers have successfully pushed a series of fixes to address network congestion issues. On April 15, Solana urged validators to update to v1.17.31, a version that changes how certain validators are treated depending on their stake. Further fixes will be shipped in the coming weeks, including a new scheduler that will be disabled by…
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STFIL, the Filecoin liquid staking protocol, believes its core technical team is being investigated by the Chinese police. The STFIL team said it also recently detected abnormal and unscheduled upgrades to the protocol. During the core technical team’s detention, FIL tokens worth over $22 million were transferred to an unknown external address. Lawyers Engaged to…
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The dYdX community has voted to stake 20 million dYdX tokens, worth around $60 million at the time of publication, using Stride’s staking service for Cosmos blockchains. The decentralized exchange (DEX) platform dYdX allows users to trade perpetual futures contracts (aka perpetual contracts). In its most recent iteration (dYdX v4), it moved to launch its…
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On March 18, the financial behemoth Fidelity Investments updated its application for a spot ethereum exchange-traded fund (ETF) to encompass staking capabilities. The firm, Fidelity, has made it known that the sponsor might “from time to time” opt to “stake a portion of the fund’s assets through one or more trusted staking providers.” Fidelity Updates…
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Investment firm Grayscale has launched a new crypto staking fund that owns assets for nine blockchains. In a press release published on March 5, the investment firm behind the biggest spot bitcoin ETF announced the launch of the Grayscale Dynamic Income Fund (GDIF), which will own assets for Aptos, Celestia, Coinbase Staked Ethereum, Cosmos, Near,…
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A Hong Kong watchdog, the SFC, has cautioned investors about the enticing yet potentially risky ‘Floki Staking Program’ and ‘Tokenfi Staking Program,’ which offer high annualized returns without the required regulatory green light. SFC Warns Against Unregulated Floki and Tokenfi Crypto Staking Programs The Hong Kong Securities and Futures Commission (SFC) has issued a public…
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