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  • 🪙 Arbitrum airdrops over $145 million in ARB tokens to various DAOs

🪙 Arbitrum airdrops over $145 million in ARB tokens to various DAOs

🪙 Arbitrum airdrops over $145 million in ARB tokens to various DAOs 🤔 Storybook Brawl shuts down after failing to find new home following FTX's collapse  🚀 Visa is hiring crypto devs to "accelerate adoption" 

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Here's what recently happened in the space:

🪙 Arbitrum airdrops over $145 million in ARB tokens to various DAOs 

      🤔 Storybook Brawl shuts down after failing to find new home following FTX's collapse

      🚀 Visa is hiring crypto devs to "accelerate adoption" 

Arbitrum airdrops over $145 million in ARB tokens to various DAOs

Arbitrum is initiating the allocation of its governance token, ARB, to decentralized autonomous organizations (DAOs) within its ecosystem. 113 million tokens, worth over $145 million at current prices, will be distributed among qualified projects. The airdrop mentioned here is different from the 11.6% of tokens that were airdropped to early Arbitrum users back in March.

The Arbitrum team will be administering the distribution process to ensure that each DAO receives its appropriate share of ARB tokens. The amount allocated to each DAO will be based on their contributions and adoption of Arbitrum’s Layer 2 solutions — as well as their level of engagement with the project overall. DAOs that meet the criteria for eligibility will be able to claim their earned tokens via a smart contract system.

The projects that are expected to receive tokens include GMX, TreasureDAO, SushiSwap, Uniswap, Aave, Hop Protocol, Radiant Capital, Balancer, Gains Network, Synapse, MakerDAO, Vesta, Curve, Layer Zero, 1inch Swapr and many others. The governance tokens granted to DAOs may help bootstrap activity on the Arbitrum network. Such allocations can be used as components of their treasuries or for other objectives as decided by their communities via governance votes.

Storybook Brawl shuts down after fail to find new home following FTX's sudden collapse

One of the web3 game projects that was acquired by FTX during its meteoric rise, Storybook Brawl is being shut down after failing to find a new home following FTX’s sudden collapse.

Good Luck Games, the firm that created and operated the game, made the announcement yesterday. At its peak, Storybook Brawl boasted over 150K users with strong engagement numbers and a vibrant community. The game was acquired by FTX in 2021, and the company planned to add Web3 elements to the game. However, after FTX’s bankruptcy filing in November, Storybook Brawl was unable to find a new owner or investor, leaving it with no choice but to shut down its servers and operations. The total player count for the game, unsurprisingly, had declined steadily after the FTX acquisition due to a large amount of backlash and review-bombing. Players were critical of the deal as well as messages from Storybook’s developers exploring “non-cosmetic” ways to integrate NFTs into the game.

In any case, with Storybook Brawl officially shutting down and all its players moving on, it’s a sad ending for what was once an innovative and popular Web3 game.

Visa is hiring crypto devs to "accelerate adoption"

Visa still seems to be bullish on crypto, and in particular, public blockchains and stablecoins. Visa is looking to hire engineers who can work with cutting-edge tools like Github Copilot to build and debug smart contracts, as well as those passionate about the Web3 stack of technologies. With a talented team of backend developers onboard, they're hoping to drive mainstream adoption of crypto and blockchain technology.

Back in February Visa rejected rumors that it was halting crypto activities, but in the meantime the company is continuing to develop public blockchains and stablecoins with an eye on mainstream adoption.