Solana DEX Drift Plans 100 Million Token Airdrop

Solana DEX Drift Plans 100 Million Token Airdrop

Drift, a decentralized exchange protocol on Solana specializing in crypto perpetual futures, is poised to airdrop 100 million DRIFT tokens to its users. This token launch, constituting 10% of the total one billion DRIFT supply, aims to enhance governance participation among its 180,000 active users. 

Co-founder Cindy Leow indicated that the token generation and claim dates will be announced soon, with the launch expected in the upcoming weeks. Post-launch, Drift plans to transition into a multi-branch DAO to bolster protocol development and security. Since its inception in 2021, Drift has achieved over $20 billion in trading volume.

‍

OKX Introduces Ethereum L2 for Reduced Fees & Interoperability

Cryptocurrency exchange OKX recently launched X Layer, an Ethereum-based layer-2 network. Utilizing zero-knowledge proofs and Polygon’s chain development kit, X Layer enables faster, cheaper transactions and facilitates seamless connectivity with other Ethereum-based networks. With an EVM-compatible structure, developers can easily deploy or migrate DApps to X Layer without rewriting code. 

X Layer’s integration with OKX’s ecosystem offers users access to multiple DApps, token swaps, and smart contract functionalities. OKX’s native token, OKB, plays a pivotal role within the X Layer ecosystem, serving as the primary currency for transaction fees.

‍

Bored Ape NFT Floor Price Hits 2.5-Year Low

The Bored Ape Yacht Club (BAYC) NFT collection has seen a significant drop in its floor price to 11.1 Ether (ETH), marking a 90% decrease from its peak of 128 ETH in May 2022 and reaching its lowest since August 2021. This decline reflects a broader downturn in the NFT market, with BAYC’s floor price now close to its initial levels four months post-launch in 2021. Despite this, select NFTs like BAYC #830 still command high prices, such as a recent sale at 504.3 ETH ($1.92 million). Meanwhile, CryptoPunks, the largest NFT collection by market cap, has experienced a less severe drop of 64%.

‍

Adidas Launches $2,500 Solana NFT Sneakers in Stepn Game

Adidas has teamed up with the move-to-earn game Stepn to launch a collection of virtual running sneakers as Solana NFTs. The first release from the Stepn x Adidas Genesis Sneakers collection will feature 200 NFTs priced at approximately $2,500 each, using Stepn’s native token, GMT. The sneakers will be available on MOOAR, Stepn’s NFT marketplace, with subsequent drops through a public raffle. 

This partnership, blending physical and digital elements, marks a new direction in lifestyle rewards, merging real-world activity with digital incentives. This collaboration also includes plans for further NFT releases and physical products over a year-long partnership.

‍

Other breaking news

• Norway Aims to Regulate Crypto Mining via Data Center
• Bitcoin Runes Launch at Halving: All You Need to Know
• Vitalik Buterin Endorses Railgun, North Korea’s Preferred Coin Mixer
• Puffer Raises $18M Led by Brevan Howard, Electric Capital
• Grayscale’s GBTC Halves Bitcoin Holdings Since Spot ETF Launch

For the latest updates on digital asset markets, follow us on X @Datawalletcom.