DeFi

Drop Hunters Not Giving Up As They Focus On Scroll And Linea After ZKsync

Published

7 months ago

25 June, 2024

CoinFlix Staff

Drop Hunters Not Giving Up As They Focus On Scroll And Linea After ZKsync

Even though some industry leaders say the airdrop meta is over, there is clearly still a lot of interest.

Airdrop hunters turn to Scroll and Linea.

Posted June 25, 2024 at 7:02 AM EST.

Last week, the crypto industry witnessed two major airdrops: ZKSync’s ZK and LayerZero’s ZRO, which now boast a combined fully diluted valuation of $6.1 billion.

Despite this, many community members, including Bryan Pellegrino, CEO of LayerZero Labsexpressed that the “airdrop model is broken,” as many crypto projects have seen users come in for free money and leave shortly after being airdropped, sparking concerns about sustainability.

Learn more: Airdrops just don’t work anymore

However, on-chain data tells a different story. Users remain eager to look for new airdrop opportunities. After all, it’s free money.

Scroll and Linea attract farmers

After ZKsync and LayerZero, airdrop hunters have now shifted their attention to two other Ethereum 2 layers, Scroll and Linea, each of which saw a notable increase in their total value locked (TVL). Over the past 30 days, Scroll’s TVL measured in ETH has jumped 40% and Linea’s by 15%, according to data growththepie.

The popularity of Scroll, an Ethereum Virtual Machine-enabled Layer 2 that increases transaction throughput with zero-knowledge technology, can be attributed to its “Sessions” campaign.

This loyalty program rewards users with Scroll Marks for participating in the Scroll ecosystem. Users can earn these marks, called points in most crypto communities, by linking assets such as ETH, USDC, or USDT via the native bridge or LayerZero. The program also rewards users for providing liquidity on various DeFi platforms such as Aave, Ambient and Nuri.

“What I like about Scroll Marks is that they are primarily RETROACTIVE, so unsophisticated actors will only act once it is “, tweeted CC2, adding: “It’s their way of dealing with a massive influx of Sybils, without going on a public hunt, and I like it.”

Linea, another zkEVM rollup, has also seen considerable interest, with its TVL increasing by 15% in ETH over the past month. The increase in deposits indicates growing trust and participation in the Linea ecosystem as users search for the next potential airdrop opportunity.

Linea has also implemented a rewards program, allowing users to earn LXP intended to “recognize the extraordinary contribution of the community to the growth of the Linea ecosystem”.

Disconnect between Airdrops and loyal users

It remains to be seen how well these programs work for these protocols. Even ZKsync has already seen a drop in its ETH TVL (excluding its native token), which has fallen from 220,000 ETH to 210,000 ETH since its airdrop.

Before the snapshot announcement, LayerZero was logging around 300,000 total messages per day. A few days before last Thursday’s drop, when the drop could no longer be operated, it was recording around 40,000 per day. Since the airdrop, messages have increased, but these messages are mainly from people demanding the token.

Meanwhile, Starknet, which made its airdrop in February, saw a significant decline, with its TVL dropping 23% over the past month, from 287,000 ETH to 220,000 ETH. Although it has already completed its airdrop, Starknet ran a “DeFi Spring” campaign to incentivize users to provide liquidity by rewarding them with STRK tokens.

However, the network has been trending downward in recent times, perhaps due to users withdrawing from the platform after disappointing drops of DeFi applications within the Starknet ecosystem, such as Ekubo and Nostra .

In contrast, Base, the Coinbase-incubated L2, which does not have a farmable token, continues to perform well, increasing its TVL by 20% over the past 30 days. Base now has a TVL of 2.1 million ETH, far surpassing Scroll’s 222,000 ETH and Linea’s 352,000 ETH. This growth is likely due to strong marketing efforts, but the on-site activity could also be due to speculation that an airdrop could still happen in the future, even though currently there is nothing to grow .

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

No spam, no lies, only insights. You can unsubscribe at any time.

Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

Don’t miss a thing – Subscribe to receive email alerts directly to your inbox

Check Price action

follow us on X, Facebook And Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/ktsdesign