In this recap of the crypto world, let us explore the events and news that had the most significant impact in the past week. Our focus will be on the following developments:
● Seedworld Unveils $SWORLD
● Binance Announces a Memecoin Competition
● Wormhole Launches its $W Governance Token and Airdrop
● Coinbase Makes History with Canadian Registration
● Doodles x Pharrell Williams
Seedworld Unveils $SWORLD
Seedworld, the pioneering metaverse platform developed by Seedify, is primed for a significant evolution with the announcement of its upcoming “Rebirth.” This transformative phase is underscored by the launch of its native token, $SWORLD, signaling a pivotal moment in the platform’s journey.
$SWORLD emerges as the cornerstone of Seedworld’s ecosystem, meticulously crafted to invigorate its growth trajectory and enhance its multifaceted functionalities. Beyond this, the native token will play a pivotal role in shaping the future landscape of Seedify’s NFT Launchpad, thereby solidifying its position within the broader crypto space.
Moreover, in a strategic move aimed at fostering active engagement from the Web3 community, Seedworld is set to introduce innovative Engage to Farm airdrop mechanics for $SWORLD. This initiative embodies the platform’s commitment to inclusivity and community-driven growth, laying the foundation for a dynamic and involved ecosystem.
The breakdown of allocations for the engagement campaigns and airdrops initiative is as follows:
- Engage to Farm Campaigns – 2.5% of the total $SWORLD supply.
- Holders Rewards – 7.7% of the overall $SWORLD supply.
- $SNFTS Burn Pool – 20% of the $SWORLD supply.
It is important to note that while these allocations provide a glimpse into Seedworld’s innovative approach, comprehensive tokenomics and additional details are slated to be unveiled in the coming weeks, promising further insights into the platform’s ecosystem and the utility of $SWORLD.
Binance Announces a Memecoin Competition
In a bold move to embrace the excitement surrounding memecoins, Binance, one of the world’s leading cryptocurrency exchanges, has announced an electrifying memecoin competition. While Solana and Base are currently in the spotlight of this memecoin trend, Binance is adamant about not being sidelined.
Running until May 9th, this high-stakes competition is poised to draw memecoins to the BNB Chain by enticing developers with substantial rewards from a staggering $1 million prize pool. The criteria for determining the winners of this epic showdown encompass three key metrics:
- Total Trading Volume
- Number of Valid Token Holders
- Market Cap
At the conclusion of the competition, the developer of the top-performing memecoin, as determined by these criteria, will be awarded a substantial sum, comprising 40% of the total rewards. Second and third place will receive 30% and 15% of the rewards, respectively, with the remainder distributed evenly among the fourth to tenth-place contenders.
However, there is a catch – the allocation of rewards hinges upon the total trading volume of memecoins surpassing $30 billion. Only upon reaching this target will the full $1 million prize pool be unlocked, underscoring the audacious scale and ambition of Binance’s memecoin competition. Read more on this here.
Wormhole Launches its $W Governance Token and Airdrop
Wormhole, the trailblazing cross-chain communication protocol, has thrust itself into the spotlight with the launch of its much-anticipated governance token, $W, accompanied by a thrilling airdrop campaign. The event has not only stirred excitement but also allowed users to rack in tens of thousands of dollars based on their eligibility.
The $W airdrop is targeting approximately 400K unique wallets categorized under the “community and launch” segment. Eligibility for participation extends to individuals who have actively engaged with Wormhole applications spanning over 30 chains, as well as holders of specific pre-identified NFT communities. This strategic approach underscores Wormhole’s unwavering commitment to rewarding the dedicated efforts of users, developers, and community members who have played instrumental roles in the platform’s rise.
Moreover, with numerous NFT projects qualifying for the airdrop, enthusiasts are delighted to be part of the Wormhole ecosystem. And while some participants have opted to liquidate their allocations for immediate gains, others are eagerly leveraging their $W holdings to actively partake in Wormhole’s governance processes. This enthusiasm serves as a testament to the widespread belief in Wormhole’s potential to redefine cross-chain communication and reshape the landscape of decentralized finance. Read more on this here.
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Coinbase Makes History with Canadian Registration
In a groundbreaking development that echoes throughout the cryptocurrency landscape, Coinbase, a titan in the realm of cryptocurrency exchanges, has achieved a monumental milestone by securing registration as a Restricted Dealer by the Canadian Securities Administrators (CSA), marking a historic first for an international cryptocurrency exchange.
The registration of Coinbase as a restricted dealer in Canada represents a pivotal moment in the company’s trajectory, underlining its steadfast commitment to upholding regulatory standards while catalyzing the growth of the cryptocurrency market. Through close collaboration with Canadian regulators, financial institutions, investment advisors, and pension funds, Coinbase has demonstrated its unwavering dedication to forging a policy framework that not only adheres to local regulations but also serves as a beacon of integrity and trust on a global scale.
With its registration secured, Coinbase is poised to unveil a comprehensive suite of products and services tailored to meet the unique needs of Canadian customers.
Overall, Canada ranked as the third-most crypto-savvy country by Coinbase itself, offers a fertile ground for innovation and growth, providing an ideal backdrop for Coinbase to expand its footprint and engage with a vibrant tech community eager to embrace the transformative potential of digital assets. Read more on this here.
Doodles x Pharrell Williams
In a fusion of creative brilliance and technological innovation, Doodles, a pioneering force in the NFT space, has embarked on an extraordinary journey of collaboration with none other than the legendary Pharrell Williams. This groundbreaking partnership, dubbed “Dullsville and the Doodleverse,” promises to redefine storytelling and propel the Doodles brand to unprecedented heights on the global stage.
Scheduled to make its grand entrance this summer, “Dullsville and the Doodleverse” represents a convergence of creativity and imagination, seamlessly blending elements of film, music, live events, partnerships, merchandise, and digital collectibles. With Pharrell Williams infusing his musical genius into the project, and acclaimed artists like Lil Wayne and Coi Leray lending their voices to the mix, audiences are in for an unforgettable and immersive experience that transcends traditional boundaries.
This announcement marks another step forward for Doodles as it extends its reach beyond the NFT space. Previous ventures have seen Doodles forging innovative partnerships, including a collaboration with MNTGE to launch NFT-inspired vintage jackets, as well as limited-edition collaborations with industry titans such as Casio and Crocs. These endeavors underscore Doodles’ relentless pursuit of innovation and its unwavering commitment to pushing the boundaries of artistic expression. Read more on this here.
