1. Eigen Foundation Announces EIGEN Q2 Stakedrop Airdrop link

The Eigen Foundation has announced the launch of the EIGEN Season 2 Stakedrop airdrop. For the second season, approximately 70 million EIGEN (around 4.2% FDV) will be allocated to stakers and operators, with the snapshot taken on August 15, 2024. Up to 10 million EIGEN (about 0.6% FDV) will be allocated to ecosystem partners, including AVS, LRT, Rollups, RaaS, and other key contributors within the EigenLayer ecosystem. Approximately 6 million EIGEN (about 0.35% FDV) will be allocated to the community, including open-source contributors, early advocates, and long-term supporters. EIGEN tokens for the second season will be claimable on or before September 17.

2. Ethena Q2 Airdrop Event Officially Concludes, Query Access Opens on September 9 link

Ethena Labs has officially announced that the second season of the Ethena protocol concluded on September 2. During this period, the USDe supply grew from 1.3 billion to nearly 3 billion, generating over $105 million for the protocol. The rewards for the third season will automatically commence on September 2. Users can check their eligible ENA for claiming via claim.ethena.fi on September 9 and claim them by September 30. Additionally, Ethena has introduced sENA, a staked token with liquidity and transferability. To receive rewards in the third season, users need to convert their locked ENA into sENA.

3. Aleo Reveals Incentive Program Airdrop Recipients, Including Ambassador Program Participants link

The programmable privacy network Aleo has revealed its incentive program for airdrop recipients and will open the reward token claims to eligible participants following the mainnet launch. This includes users from the Ambassador Program, Setup Ceremony, Testnet 2, Top 100 Rewards, Credits Mined, GitHub PR, Pool Tester, Pool Operator, Testnet 3, Proof-of-Stake Rewards, Deployment Rewards, Testnet Testing, Validator Rewards II, ZPrize 2022/2023, zkML Initiative, and Enigma. The claimed tokens will be locked for one year and can be used for deploying programs, executing transactions, and paying fees.

F2pool has announced the launch of an Aleo (ALEO) mining pool and implemented a 1% PPLNS payment scheme. Aleo is an L1 blockchain platform utilizing zero-knowledge proof technology to support scalable and private applications. The Aleo network’s consensus mechanism, AleoBFT, is a hybrid structure combining PoS and PoW, with PoW generating kSNARKs proofs and PoS providing real-time block finality. Currently, users can participate in Aleo mining with NVIDIA GPUs through f2pool.

4. Ripple Plans to Launch XRPL EVM Sidechain in 2025 link

Ripple has announced plans to launch an XRPL (XRP Ledger) EVM sidechain in 2025. The sidechain will integrate Ethereum Virtual Machine (EVM) compatibility into the XRP Ledger, allowing developers to deploy Ethereum-based smart contracts within the XRP ecosystem. This move aims to expand the functionality of the XRPL, enabling cross-chain interoperability and increasing the platform’s appeal to developers and users familiar with Ethereum’s ecosystem. The launch of this sidechain is expected to enhance Ripple’s presence in the broader blockchain landscape by supporting decentralized applications (dApps) and DeFi protocols.

5. ApeChain Set to Launch with New Initiative BluePrint link

A Yuga Labs co-founder has announced that ApeCoin is revising its roadmap and launching a new initiative called BluePrint, which aims to introduce consumer-facing applications themed around BAYC. An employee from Yuga Labs confirmed that Ethereum Layer 2 solution ApeChain will be launching soon. Greg Solano, who recently took over as CEO of Yuga Labs, stated that ApeChain focuses on applications and will provide a comprehensive set of developer tools. On Wednesday, several prominent BAYC holders and Yuga employees posted new ApeChain banners on Twitter, suggesting an imminent launch. Notably, the ApeCoin token has dropped 97% from its peak.

Additionally, ApeCoin released its Q1 2024 transparency report, stating that as of March 31, 2024, the treasury holds 326 million APE, accounts payable include 255,060 APE, and 59 million APE is reserved for grants. There were no APE inflows during the quarter, and outflows totaled 1 million APE for operational expenses, including 148,627 APE for community support and a total of 20.6 million APE in foundation allocations.

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6. Veteran DeFi Protocol Synthetix Unveils SNAXchain, an Application Chain on Optimism Superchain Infrastructure link

Veteran DeFi protocol Synthetix has announced the launch of SNAXchain, an application chain built on the Optimism Superchain infrastructure. As Synthetix expands to other chains and Layer 2 solutions, SNAXchain will serve as a neutral hub for governance and protocol decision-making. Synthetix has partnered with Conduit to manage the chain infrastructure and with Wormhole to enable cross-chain messaging between SNAXchain, Optimism, and the Ethereum mainnet.

7. SSV Network Submits Two Major Proposals, Including a $6 Million Grant for Technological Development link

SSV Network has recently submitted two significant proposals to its governance forum, which are currently under discussion. The first proposal aims to extend and expand the previously approved DIP-16 community and marketing management plan, seeking additional funds for new activities and marketing services. This proposal requests $191,830 and $150,000 worth of SSV tokens for PR, conferences, and specific marketing initiatives, as well as an additional $1 million worth of SSV tokens as compensation for prior work. The second proposal addresses SSV Network’s technical upgrades and future development plans, including the Alan Fork upgrade, committee consensus upgrade, and Pectra readiness upgrade, among other technical improvements. This proposal requests $6 million worth of SSV tokens to support these development and upgrade efforts.

8. ZKsync Developer Matter Labs to Cut 16% of Workforce link

Matter Labs, the company behind ZKsync, is set to reduce its workforce by 16%, equating to 24 employees. This marks the first instance of layoffs since the company’s founding six years ago. Nana Murugesan, President of Matter Labs, stated that this decision aims to streamline the team as it transitions into the next phase.

9. DeFi Protocol Penpie Hacked, Approximately $27 Million in Crypto Assets Stolen link

The DeFi protocol Penpie, built on the tokenized yield platform Pendle, has been targeted in a hacker attack. Blockchain data reveals that approximately $27 million in crypto assets have been stolen from the protocol, including various types of staked Ethereum, sUSDE from Ethena, and wrapped USDC stablecoins. Pendle has confirmed the discovery of security vulnerabilities in the Penpie protocol and added that investor funds on Pendle are secure. As a precaution, Pendle has temporarily suspended all contracts.

According to @EmberCN, Penpie has lost $27.8 million due to the attack, primarily involving LRT assets (such as wstETH, agETH, rswETH). Most of the stolen assets were converted by the hackers into 11,109 ETH (approximately $26.95 million), with 1,000 ETH (about $2.42 million) laundered through Tornado Cash on Wednesday. The address used for the theft initially received funds from Tornado Cash.

Pendle has released an analysis report on the Penpie attack. The report highlights that Pendle quickly suspended contracts upon discovering the security vulnerability, successfully protecting approximately $105 million in funds from loss. The attack began at 01:45 on Wednesday, with the first breach occurring at 02:23 on Penpie. Pendle’s team acted within about two minutes, suspending all contracts and notifying related protocols. The investigation revealed that the attack was due to a unique issue with Penpie related to the ability to list Pendle market assets without permission. Pendle’s contracts were safely reinstated and resumed normal operation at 08:50.

10. Mino Games Announces Transition of Its Standalone Card Game Dimensionals to a Web2 Model link

According to Nftplazas, Mino Games, a dimensional gaming company, has recently announced that its standalone card game, Dimensionals, will entirely transition to a Web2 model, abandoning its previous blockchain technology and NFT integration. This shift is driven by the substantial economic losses the project has incurred. CEO Sash MacKinnon noted that Dimensionals’ Web3 journey began with the Genesis Stone series free mint in March 2023, aimed at boosting the game’s visibility and attracting mainstream players. However, the project has faced numerous challenges since its inception, including whitelist giveaways plagued by bot attacks, multiple DDoS assaults, and a drastic revenue decline due to changes in the NFT market environment. After discussions with investors and advisors, the company has decided to pivot away from Web3 and reposition Dimensionals as a purely Web2 game, to be launched on the Steam platform. Mino Games had previously raised over $35 million from top-tier VCs, including a16z, SYBO Games, Y Combinator, and Standard Crypto.

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