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Floki plans an $11M token burn, totaling 190B FLOKI tokens

Floki plans an $11M token burn, totaling 190B FLOKI tokens

March 1, 2024

I. Mainstream exchange news

  • Robinhood has added support for Dogwifhat (WIF) to its crypto platform.
  • Coinbase's market cap surpasses Hong Kong Stock Exchange, becoming the world's fourth-largest listed exchange.
  • Coinbase unveils two new wallet solutions: a smart wallet and an embedded wallet.
  • Binance will support the PIVX (PIVX) network upgrade and hard fork.
  • Gate.HK has applied for a virtual asset trading platform license to the Hong Kong SFC.
  • US core PCE price index annual rate in January is 2.8%, as expected.
  • The total trading volume of all US spot Bitcoin ETFs on February 29th is around $4.7 billion, marking a historic second-highest record.
  • SynFutures is launching its V3 platform on the Blast mainnet and plans to launch a native token within this year.
  • The Blast mainnet is now live, with 50% of airdrop to be allocated to point users.
  • Perpetual Contract DEX Protocol Aboard announces token economics: 50% for liquidity mining rewards.
  • Web3 gaming platform Portal starts its staking program.
  • Floki plans to burn tokens worth $11 million, a total of 190 billion FLOKI tokens.
  • US SEC is considering allowing Bitcoin ETFs and related trust options to be listed and traded.
  • Shiba Inu is launching a new network focused on privacy on the Shibarium chain.

III. Funding news 

  • Blockchain data analysis company Octav completes $4 million strategic funding.
  • Crypto security startup Silence Laboratories completes a new round of funding of $4.1 million.

IV. Regulatory news 

  • South Korea's ruling party retracts an election promise to allow trading of Bitcoin spot ETFs.
  • The US Department of Justice said it will utilize nearly $1 billion in Bitcoin seized from Bitfinex hackers for lawful law enforcement purposes.

Blast mainnet officially launched

The mainnet officially started on February 29th, enabling users to transfer assets to the mainnet and start interacting with Dapps. Blast's airdrop will be divided into two parts, 50% will be distributed to Points users and 50% to Gold users (Dapp projects). Users interacting on Blast can obtain ETH Pos, USDC native earnings, Blast airdrop points, early airdrops, as well as gold points of Dapp projects. Some Dapp projects have promised to distribute the acquired gold points to their users. Blast's TVL has reached $2.35 billion, with a total of 208,000 users. Early projects include:

Ambient: A DEX within Blast received an official endorsement through a retweet from the platform. There are currently point activities and expected token airdrops, and the TVL has reached $34.82 million. Ambient raised $6.5 million in a seed round, led by BlockTower Capital, with notable participation from Jane Street, and Circle.

SynFutures Protocol: The V3 version of SynFutures launched on Blast, received an official endorsement through a retweet from Blast itself. User participation in SynFutures' interaction can obtain Blast points, Blast gold points, and future token airdrops from SynFutures. SynFutures announced in October 2023 that it had completed a $22 million B round of funding, led by Pantera Capital, and followed by Susquehanna International Group (SIG) and HashKey Capital.

Thruster: A native DEX built on Blast which has received an official endorsement through a retweet from the platform itself. The current TVL has exceeded $5 million, with a trading volume of over $10 million. Users participating in trades can obtain Blast points as well as Thruster points.

Blast Inscription: The first inscription project on Blast. It has been completely minted, with a total of 21 million, held by 654 users. The deployment time was 6:09 AM (UTC+8) on March 1st, and it was completely minted within just 4 hours. From the blockchain data, no single address holds more than 3% of the total, but the number of addresses is relatively small. The performance after the opening of trading can be followed.

PACMOON: Positioned as a memecoin on Blast, PAC is conducting a large-scale airdrop for Blast's stakers and developers. Users can obtain PAC airdrops by liking and forwarding posts. The more likes and forwards, the larger the airdrop. Additionally, users can earn extra PAC tokens through invitations. PAC has received many retweets from project parties and KOLs.

Upcoming airdrops on Blast with claimable points (please do your own research on potential risks): 

YOLO GAMES: YOLO, initiated by LooksRare, allows for points to be claimed now and later swapped for tokens.

PUMP: A memecoin launched by the Wassies community, all Blast asset holders, Wassie holders, and other community members can claim the token. The total supply is 21 million with 2.1 million allocated for Blast users. After claiming, it can be sold directly on Thruster. 

Ondo launched the Ondo GM Market

On March 1st, Ondo announced the launch of Ondo Global Markets, a platform that tokenizes securities while maintaining off-chain liquidity. The team is dedicated to bringing all public securities transactions onto the blockchain to address the issue of Real World Asset (RWA) liquidity. Triggered by this news, the ONDO token has risen by 18% in the past 24 hours.

Fuel launched the Beta-5 testnet

On March 1st, Fuel, an Ethereum scaling solution, stated on X (former Twitter)  that Fuel's Staging Network has migrated to Beta-5. Beta-5 brings many novel features and updates, including wallet integration, DDoS protection, and improved Sway DevEx. Beta-5 is the final testnet of Fuel, and upon completion, the incentivized testnet will be officially launched. Back in September 2022, FuelLabs, the developer of the Ethereum scaling solution Fuel, announced completing a funding round of $80 million, led by Blockchain Capital and Stratos Technologies.

Humanity Protocol, the first witch attack-proof blockchain network with fingerprint recognition

Claimed as the world's first witch attack-proof blockchain, Humanity Protocol offers a unique human identity verification mechanism for developers through Proof of Humanity, while giving users full control over their data and identity. The product will undergo a two-stage launch process:

Firstly, leveraging advanced palm recognition technology, the team will establish an extensive network of verified individuals, backed by decentralized nodes and zero-knowledge proofs to safeguard data privacy.

Secondly, the protocol will transition into the identity layer of Web3, issuing verifiable credentials, all the while prioritizing personal data privacy through zero-knowledge proofs.

On February 28th, Humanity Protocol announced the completion of a strategic round of financing, receiving strategic investments from over 20 well-known crypto-native venture capital funds such as Hashed, CMCC, Cypher Capital, Foresight Ventures, and Mechanism Capital. The specific amount of funding was not disclosed. launched a community incentive program is a decentralized GPU network built on Solana, aiming to provide unlimited computational power for Machine Learning applications. The project acquires computing power equitably by assembling over a million GPUs from independent data centers, cryptocurrency miners, and crypto projects such as Filecoin or Render. provides services for anyone wanting to create or operate machine learning models or AI applications. The project embraces multiple concepts such as AI + GPU + Depin and is worth keeping an eye on for further developments.

The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on our official website shall prevail.

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