After eight months and $50M+ in fees, FriendTech V2 launched today.

10% of the airdrop is claimable immediately, with the remaining 90% claimable on the following ten accounts and joining a moneyclub. This system is designed to prevent people from leaving immediately and hook users to the new FriendTech features.

The token is initially

Today is earnings day for our favorite crypto stonk, Coinbase.

In February, Coinbase exceeded Wall Street expectations significantly, providing additional fuel on $COIN’s move towards yearly highs around $280, from $170. Since then, both traditional markets and crypto markets have cooled off a bit, providing a healthy pullback across th

Op_Cat, the next potential upgrade to Bitcoin, became an official improvement proposal today by receiving a BIP (347) number. Ordinals kicked off a renaissance in Bitcoin development. Before Ordinals, the culture around Bitcoin was concerned with ossifying and limiting the development of Bitcoin Core, as upgrades could potentially put Bi

We have previously touched on Sanctum in the 2024 year ahead reports for Infrastructure and DeFi.

Sanctum can be thought of as an LST aggregator. It uses flash loans to accept all LSTs in exchange for SOL. This makes it easier to integrate newer LSTs across DeFi, undermining the economies of scale for the first movers. It’s hard to imagin

The FTX Estate is said to have completed its second tranche of ~1.8M SOL ($232M) in the range of $95-110. This is a much smaller discount to spot price than the earlier round of $64.

The next round looks to start on May 1st and will be open to non-US and US accredited investors. I believe there are still 12M SOL left to sell.

Eigen announced their “work token” yesterday which is coming May 10th. The total supply will be ~1.67B with 15% geared towards an airdrop. 5% of this will be claimable May 10 and then the rest a few months later. Defillama released a cool new tool to check allocations without connecting a wallet: https://defillama.com/airdrops

First,

With Runes turning one week old, I wanted to see how they have been performing and what market dynamics are emerging in this new meta-token. I was initially excited about Runes, but as their launch was so telegraphed, I figured the reaction to it would be muted, as the market had probably priced in the excitement around Runes far in advan