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ZKsync Airdrop Controversy
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/44d38c73-334c-434f-9f57-64d8a9806122/1f359bd882c9d7970e801dc409852ed31356de74-828x466.jpg?t=1718226599)
😡 ZKsync Airdrop Sparks Outrage
High Reward Cap Issues: The ZKsync airdrop, releasing 17.5% of the token supply to 695,000 wallets, excluded 90% of addresses, sparking backlash and criticism from part of the crypto community.
Sybil Attacks Concerns: Mudit Gupta of Polygon Labs criticized the airdrop for lacking Sybil filtering, allowing easy farming. Adam Cochran echoed this, urging better planning to avoid "turbo dumping mercenaries".
Community Backlash: "Artemis the Sybil Hunter" highlighted Sybil accounts collecting 2 million ZK tokens, flagged by LayerZero Labs. Kaito AI's sentiment analysis shows user dissatisfaction with Sybil attacks and reward disparities. Read More.
️ On today's Top Picks:
- 🌕 Terraform to pay $4.47B in settlement with US SEC.
- ✅ Bryan Pellegrino to wrap up LayerZero sybil review.
- 💵 US Federal Reserve leaves interest rates unchanged.
- 💰 Symbiotic raises $5.8M, co-led by Paradigm & cyber Fund.
Read time: ⏰ 7 minutes
Crypto News
• ⭐️ Terraform agrees to pay $4.47B in settlement with US SEC.
• MetaMask to offer pooled Ethereum $ETH staking next week.
• ICBC, the world's largest bank compares Bitcoin $BTC to gold & Ethereum $ETH to digital oil.
• Crypto[dot]com crypto exchange receives approval to register as a virtual asset service provider in Ireland.
• Tether Investment Arm to invest $1B in financial infrastructure, AI, & biotec.
• Paxos cuts 20% (~65 people) of workforce with $500M on its balance sheet.
Alpha
• Nekodex by Perpetual Protocol thread by Earndrop.
• New Blast Multiplier by Olimpio.
• BOB launches Wave 4 Part II of Build on Bitcoin Summer Fest on Intract.
• Initia launches Week 5 Bonus Tasks for The Initiation: Minitia Mania.
• ODOS adds support for Scroll.
• Avantis launches Season 1 of Avantis XP.
Airdrops
• Solv Protocol Airdrop Strategy by Earndrop.
• ⭐️ ZKsync releases $ZK airdrop eligibility checker & its tokenomics.
• ⭐️ Bryan Pellegrino to wrap up LayerZero $ZRO sybil review in next ~72 hours.
• BNB Chain announces Chapter 3 of the BNB Chain Airdrop Alliance.
• Spark launches $SPK allocation checker & Season 2 of pre-farming.
• PIrate Nation $PIRATE claim launches on June 13th.
• Enjoy launches $ENJOY Season 1 Airdrop 2.
• ICYMI Mercle Strategy Airdrop Strategy by Earndrop.
Finance News
• ⭐️ US Federal Reserve leaves interest rates unchanged at 5.25% to 5.50%.
• US Inflation falls to 3.3% in May, lower than expected 3.4%.
• Russia's Moscow Stock Exchange halts trading in US Dollars & Euros.
• Elon Musk drops lawsuit against OpenAI's Sam Altman.
• Apple $AAPL surpasses Microsft $MSFT as most valuable US company.
• Citron Research no longer short GameStop $GME citing $4B runway & cult-like shareholder behavior.
• General Motors $GM approves $6B stock-buyback program.
• Metplanet buys an additional $1.6M of Bitcoin $BTC.
Security and Exploits
• DMM Bitcoin crypto exchange hacker moves funds.
• Microsoft releases security updates to address 51 security flaws.
• Cryptojacking campaign targets misconfigured Kubernetes clusters to mine Dero crypto.
• ValleyRAT Malware returns with advanced data theft tactics.
Token Unlocks
• Immutable / 25.53M $IMX / ~$47M / JUN 14
• Cyber / 886.12K $CYBER / ~$7M / JUN 14
• Starknet / 64M $STRK / ~$66M / JUN 15
• Render / 760.57K $RNDR / ~$6M / JUN 16
• Arbitrum / 92.65M $ARB / ~$87M / JUN 16
• ApeCoin / 15.6M $APE / ~$17M / JUN 17
• Nym / 2.96M $NYM / ~$400K / JUN 17
Funding
• Zircuit, a zk rollup with parallelized circuits & AI-enabled security, raises an undisclosed amount in funding from Binance Labs.
• Layer3, a Web3 discovery platform, raises $21M in Series A funding co-led by ParaFi Capital & Greenfield One.
• Ava Protocol (formerly OAK Network), an intent-centric event-driven Eigenlayer AVS, raises $10M in Seed funding.
• ⭐️ Symbiotic, a permissionless restaking protocol, raises $5.8M in Seed funding co-led by Paradigm & cyber Fund.
• Pixelverse, a tap-to-earn Web3 game, raises $5.5M in funding.
• Kima, a payment settlement protocol, raises $5M in Pre-Seed funding co-led by Blockchange & FinSec Innovation Lab.
• Ink Finance, a DeFi engine for Protocols, DAOs, & RWA Originators; raises $5M in funding.
• Irys, an onchain data developer, raises $3.5M in Strategic funding led by Lemniscap.
• codatta, a human-centric data confidence protocol, raises $2.5M in Seed funding led by OKX Ventures.
• Pakt, an OS for On-Chain Connection, raises $750K in Pre-Seed funding.
The Degen Farmer
Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!
PROTOCOL | ASSETS | APY |
---|---|---|
![]() | USDEUSDC | 171.07% |
![]() | NUSDC | 62.69% |
![]() | USDCUSDC | 59.23% |
![]() | MIMUSDCUSDT | 56.96% |
![]() | USDC | 42.44% |
![]() | USDEDAI | 41.27% |
![]() | IUSD | 37.65% |
![]() | USDB | 35.47% |
🟠 Solv Protocol: Introducing SolvBTC, A Liquid Yield Token for Bitcoin | ![]() |
Solv Protocol: Solv Protocol is a unified platform for optimizing yield and liquidity across major assets. Backed by Binance Labs, NOMURA Group, Blockchain Capital.
Also, Ethena Partnership: Solv Protocol will integrate Ethena to launch the first yield vault for SolvBTC, allowing users to earn yields ($sUSDe yield + Ethena SATs + Solv Points) from Ethena’s strategies while maintaining Bitcoin exposure.
🪂 SOLV Token Airdrop Campaign: Solv Protocol and Binance Web3 Wallet have partnered to launch a 150,000 SOLV Token Airdrop Campaign. Users can join the campaign from June 4th to June 17th.
⚡️ Participation: New users can participate by registering for a Binance Web3 Wallet, while existing users can leverage their wallets to dive straight into BTCFi. Read more and tutorial below:
That’s it for today’s edition! See you soon.
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