In this recap of the crypto world, let us explore the events and news that had the most significant impact in the past week. Our focus will be on the following developments:
● GoDaddy x ENS
● Robinhood x MetaMask
● Wormhole Announces its Token and Tokenomics
● Polygon Labs Introduces Type 1 zkEVM Prover
● Shrapnel: A Deep Dive into the Early Access Gameplay
In a pioneering move, GoDaddy, the global leader in domain registration and web hosting, has forged a strategic alliance with Ethereum Name Service (ENS), a prominent blockchain-based naming system. This groundbreaking collaboration introduces a revolutionary feature within GoDaddy’s domain management platform, offering users a seamless integration of Ethereum addresses with traditional domain names.
Moreover, this integration facilitates users’ interaction with Web3 applications, enhancing the utility and management of their digital assets in a secure and efficient manner. This eliminates the barriers that may have previously deterred individuals from exploring the benefits of blockchain technology.
Paul Nicks, President of Domains at GoDaddy, underscored the advantages of this collaboration, stating, “Partnering with ENS presents our customers with a unique opportunity to experience the fusion of domain names and blockchain technologies, bringing great benefits for users in both areas.” This strategic move aligns with GoDaddy’s commitment to providing innovative solutions and staying at the forefront of technological advancements.
The collaboration signifies a significant leap forward in the domain name industry, positioning ENS as a pivotal player in the dynamic landscape of decentralized systems. It also serves as a perfect example of how traditional and blockchain-based systems can be seamlessly integrated, providing users with an improved digital experience. Read more on this here.
In a landmark move, MetaMask, the leading self-custodial wallet app, has partnered with Robinhood, a titan in the trading industry, to create a revolutionary bridge between traditional banking and blockchain-based infrastructures. The primary goal of this collaboration is to simplify the process of buying cryptocurrencies, making them more accessible to a wider audience.
The key innovation within this partnership is the introduction of Robinhood Connect, providing MetaMask users with an on-ramp to traditional banking services. By integrating with MetaMask’s wallet, Robinhood users gain easy access to the world of decentralized finance. This integration also allows MetaMask users to leverage Robinhood’s cost-effective order flow, facilitating the purchase of cryptocurrencies seamlessly. Simultaneously, Robinhood account holders can effortlessly fund and transfer their crypto assets to their MetaMask wallet, ushering in a new era of interoperability.
MetaMask and Robinhood envision a future where crypto adoption is not confined to the tech-savvy few but becomes a mainstream reality. The integration ensures that users experience a secure, user-friendly, and self-custodial journey, promoting the adoption of Web3 technologies. Read more on this here.
Wormhole, a leading interoperability platform, has revealed the eagerly awaited details of its upcoming $W token, offering insights into the token’s structure and the allocation strategy that underpins its distribution.
As per the official release, the $W token is set to have a capped total supply of 10 billion tokens, with an initial circulating supply of 1.8 billion tokens. The breakdown of the token allocation encompasses six distinct groups, each playing a vital role in shaping the future of Wormhole:
- Guardian Nodes (5.1%) – None unlocked at TGE.
- Community & Launch (17%) – 11% unlocked at TGE, 6% after four months.
- Core Contributors (12%) – None unlocked at TGE.
- Ecosystem & Incubation (31%) – 5% unlocked at TGE, 26.1% later.
- Strategic Network Participants (11.6%) – None unlocked at TGE.
- Foundation Treasury (23.3%) – 2% unlocked at TGE, 21.3% unlocks linearly.
Wormhole’s strategic approach to token distribution is designed to reward active participation and ensure long-term sustainability. Moreover, the allocation to Guardian Nodes, Core Contributors, and Strategic Network Participants remaining locked at TGE demonstrates Wormhole’s commitment to aligning the interests of key stakeholders with the platform’s success.
Regarding the airdrop, the specific details about eligibility criteria have not been disclosed yet. However, the allocation status of eligible users is anticipated to be influenced by the pre-announcement snapshot taken on February 7th. There are also speculations that individuals holding collections such as Mad Lads, DeGods, and y00ts, who joined the Wormhole discord before the official announcement, could potentially qualify for the airdrop. However, there have been no official confirmations on this matter at this time.
In a groundbreaking stride towards enhancing Ethereum compatibility and interoperability, Polygon Labs has unveiled the Type 1 zkEVM prover, a game-changing upgrade poised to reshape the landscape of blockchain technology.
The primary purpose of the Type 1 zkEVM prover is to fortify Ethereum compatibility, allowing any EVM chain to seamlessly transition into a Zero-Knowledge Layer 2 (L2) solution. This prover stands out for its unique ability to generate proofs without altering any facet of Ethereum, preserving the integrity of its storage structure and consensus logic.
In essence, the Type 1 prover serves as a bridge, enabling EVM chains to integrate effortlessly with the entire Polygon ecosystem through the Aggregation Layer (AggLayer). This integration holds the promise of a substantial boost in performance, positioning it as a more cost-effective solution compared to other Layer 2 alternatives.
In the upcoming weeks, Polygon Labs anticipates a substantial performance enhancement through a new upgrade. This upgrade aims to empower the generation of ZK proofs for actual mainnet Ethereum blocks, with an average transaction cost ranging from $0.002 to $0.003. The cost-effectiveness, combined with its compatibility with diverse zkEVM types, positions the prover as an appealing solution for organizations seeking to leverage the capabilities of blockchain technology. Read more on this here.
Shrapnel, one of the most anticipated blockchain games, has taken center stage in the early access phase on the Epic Games Store. This action-packed shooter thrusts players into The Zone, a high-stakes environment where competition is fierce, and the rewards come in the form of the $SHRAP tokens.
The early access phase kicks off with a bang as Shrapnel introduces Shrapnel Training Exercises One (STX1), a three-day event that offers participants a shot at a staggering $100,000 worth of $SHRAP tokens. From 4 pm on Feb 8th to midnight ET on Feb 10th, this event sets the stage for an intense atmosphere of competition and the pursuit of glory.
The rewards for STX1 are distributed to the top 1000 players based on their leaderboard ranking, determined by their prowess in collecting and successfully extracting Sigma—a crucial resource for enhancing gear and abilities. The prize pool breakdown is as follows:
- 1st place: $10,000 in $SHRAP tokens
- 2nd place: $5,000 in $SHRAP tokens
- 3rd place: $2,500 in $SHRAP tokens
- 4th to 10th places: $800 in $SHRAP tokens
- 11th to 50th places: $400 in $SHRAP tokens
- 51st to 100th places: $150 in $SHRAP tokens
- 101st to 500th place: $75 in $SHRAP tokens
- 501st to 1000th place: $50 in $SHRAP tokens
With high-stakes competitions, substantial rewards, and a unique resource-driven leaderboard, Shrapnel sets a new standard for immersive and rewarding gameplay experiences in the blockchain gaming landscape. Read more on this here.