Crypto Morning Brief: Animoca to buy more WATCoin from public markets, World Chain launches mainnet
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Crypto Morning Brief: Animoca to buy more WATCoin from public markets, World Chain launches mainnet
zkPass raises $12.5 million in Series A funding at a $100 million token valuation.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Pyth Network: Distributed 768,000 PYTH Staking Rewards to Stakers
According to official news, Pyth Network announced the distribution of 768,000 PYTH staking rewards to stakers, supporting DeFi protection through Oracle Integrity Staking.
Animoca Brands to Purchase Additional WATCoin from Public Markets
Animoca Brands disclosed its intention to acquire more WATCoin from public markets. WATCoin is the utility token for WatBird, a Telegram Mini App developed by GAMEE, a subsidiary of Animoca Brands. Animoca Brands stated that purchasing these tokens reinforces its commitment to WatBird’s role in supporting the broader TON ecosystem.
ApeCoin DAO Passes Proposal to “Dissolve Four Working Groups Including Web3 Development and Metaverse”
The Snapshot page shows that on October 17, ApeCoin DAO passed the proposal to “dissolve four non-essential working groups” with a high approval rate of 98.02%, including the Governance, Marketing & Communications, Metaverse, and Web3 Development working groups.
The proposal noted that these four working groups incur nearly $3 million in annual costs for the DAO but have shown low execution efficiency. Meanwhile, the ApeCoin Foundation's funds are rapidly depleting. To alleviate financial pressure, the proposal recommends outsourcing related functions to third-party teams.
Worldcoin Rebrands as World Network and Announces Mainnet Launch of World Chain
Worldcoin, the digital identity project backed by OpenAI CEO Sam Altman, announced it has rebranded to World Network (shortened to "World") and officially launched its Ethereum Layer-2 blockchain mainnet, World Chain.
World Network stated that as the project scales and the importance of the World ID proof-of-humanity protocol grows, the name “Worldcoin” no longer fully captures the project’s mission. The new brand World encompasses three core pillars: World Chain, World ID, and the Worldcoin token, aiming to build a network composed of real, verified humans to advance artificial intelligence.
zkPass Raises $12.5 Million in Series A at $100 Million Token Valuation
According to TheBlock, zkPass has raised $12.5 million in a Series A funding round at a $100 million token valuation. Investors in this round include dao5, Animoca Brands, Flow Traders, Amber Group, IOBC Capital, Signum Capital, MH Ventures, and WAGMI Ventures. Bing Jiang, co-founder and CTO, said there was no lead investor in this round because zkPass aims to involve all investors equally—having one dominant lead investor could result in disproportionately higher returns.
zkPass is a zero-knowledge proof-based data validation protocol that enables users to prove information without revealing actual data (such as identity or financial records).
Coinbase International to List Turbo Perpetual Futures Contract
Coinbase International announced on X that Coinbase International and Coinbase Advanced will add support for the Turbo perpetual futures contract. The TURBO-PERP market is expected to open on or after 17:30 Beijing time, October 24, 2024.
ZKsync New Proposal Introduces Ignite Program, Distributing 300 Million ZK Tokens to DeFi Users Over 9 Months
ZKsync released its first governance proposal, named ZKsync Ignite, aiming to transform ZKsync Era into a liquidity hub for Elastic Chain. As part of this initiative, 300 million ZK tokens will be distributed to DeFi users over the next nine months. The proposal has been published on the ZK Nation forum, targeting further growth and expansion of the ZKsync ecosystem.
Upbit to List Injective (INJ) on KRW and USDT Markets
According to an official announcement, South Korean crypto exchange Upbit will list Injective (INJ) on its KRW and USDT markets, with trading support starting at 18:15 local time on October 17.
Kraken Launches New Wrapped Bitcoin Product KBTC
Cryptocurrency exchange Kraken officially launched KBTC, a new wrapped Bitcoin product. KBTC is an ERC20 token fully backed 1:1 by Bitcoin held in custody by Kraken, designed to expand Bitcoin’s applications within the decentralized finance (DeFi) ecosystem.
KBTC allows Bitcoin to interact with decentralized applications (dApps) on the Ethereum and OP mainnets. Users can independently verify KBTC’s Bitcoin backing via on-chain reserves, ensuring transparency. Kraken stated that KBTC will enable Bitcoin to participate in the rapidly growing DeFi space, offering users new opportunities to use Bitcoin in financial activities such as lending.
New Document Reveals Trump Family to Receive 75% of WLFI Net Revenue Without Any Liability
According to CNBC, the Trump family’s cryptocurrency project, World Liberty Financial (WLF), released a 13-page “World Liberty Gold Paper” outlining the project’s mission and token distribution plan. The document reveals that the Trump family will receive 75% of the project’s net revenue while bearing no liability.
The document states that DT Marks DEFI LLC, a Delaware company linked to the Trumps, will receive 75% of the net protocol income. The Trump family will receive 22.5 billion $WLFI tokens, worth approximately $337.5 million at this week’s issuance price of 1.5 cents per token.
Market Data
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