<p>Solana ecosystem LBP platform 1intro will conduct INTRO LBP public sale on April 14; Omni Network announces Genesis airdrop details</p>

Omni Network announces the details of the Genesis airdrop and has supported checking qualifications.

On April 11, according to official sources, the Omni Foundation announced the upcoming launch of the ERC-20 token OMNI on Ethereum, with a total supply of 100 million tokens, of which 3 million tokens (3% of the total supply of OMNI) will be distributed as part of the airdrop. The airdrop eligibility is retroactively determined from April 3, 2024. Users have 45 days to claim OMNI rewards, after which all unclaimed tokens will be returned to the Omni Foundation for future community activities. Currently, users are supported to check their qualifications themselves.

Owlto Finance, a cross-chain interoperability protocol, has integrated Solana and will airdrop Owlto Solana Bridger NFT to community users.

On April 11, Owlto Finance, a intent-focused cross-chain interoperability protocol, has now integrated with Solana, supporting users to transfer funds between the Solana network and over 20 other networks supported by Owlto. At the same time, Owlto now also supports the CCTP (Circle Cross-Chain Transfer) feature on the Solana network.

dYdX Chain distributes $5 million in rewards in its third quarter incentive program, with the fourth quarter set to begin.

On April 11, according to official sources, dYdX Chain announced the end of its third quarter incentive program, with eligible traders expected to receive $5 million in rewards. The fourth quarter (final quarter) trading incentive program is set to begin and will last for 6-8 weeks.

Merlin Chain's lending protocol Avalon TVL surpasses $100 million, becoming the largest-scale lending protocol in the BTC ecosystem.

On April 12, according to official sources, Merlin Chain's first lending protocol, Avalon Finance, surpassed $100 million in TVL after one week of launch, with over 7,000 users, making it the largest lending protocol in Merlin Chain and the entire BTC ecosystem, also setting the record for the fastest-growing TVL in DeFi lending protocol history. Avalon Finance has introduced a community airdrop plan with an airdrop ratio of up to 20%.

Brevis coChain AVS, as the first verification service mainnet launched by EigenLayer, is now online.

On April 12, according to official announcements, the ZK full-chain data computation and verification platform Brevis announced that Brevis coChain AVS, as the first verification service mainnet launched by EigenLayer, is now online. Brevis allows smart contracts to access complete on-chain historical data and run customizable computations in a trustless manner.

Chainlink launches the cross-chain token and message bridging application Transporter.

On April 12, according to official sources, Chainlink announced the launch of the cross-chain token and message bridging application Transporter. Transporter allows cryptocurrency users to easily and securely transfer their tokens and messages between different blockchain networks. Each Transporter transfer is fully supported by Chainlink CCIP.

Users can now bridge supported tokens on eight blockchains, including ETH, USDC, LINK, etc., across Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism, Polygon, and WEMIX.

Pac Finance's sudden parameter change results in $24 million liquidation.

On April 12, according to Cointelegraph, users of the Blast Network's cryptocurrency lending app Pac Finance reportedly suffered a $24 million liquidation on April 11 due to a sudden parameter change in the developer's wallet. Official Discord administrators claim they have informed the team of the issue. No official announcement has been made regarding this matter.

The TON Foundation airdrops 300,000 TON tokens, approximately $2.19 million, to active meme coin traders within the ecosystem.

On April 12, according to official sources, the TON Foundation has airdropped 300,000 TON tokens (approximately $2.19 million) to the most active meme coin traders on Dedust and/or Ston.fi.

The airdrop snapshot dates from March 4 to April 10, with witch wallet addresses being disqualified. Whitelisted tokens include: FISH, ANON, REDO, MRDN, TONY, ARBUZ, durev, TPET, BTC25, WIF, COFE, CATS, and BOLT.

The Solana ecosystem LBP platform 1intro will conduct the INTRO LBP public sale on April 14.

On April 12, according to official sources, the Solana ecosystem's first LBP platform, 1intro, will conduct the INTRO LBP public sale at 23:00 on April 14 (Beijing time), lasting for 72 hours, offering 200 million INTRO tokens (20% of the total supply).

According to tokenomics provided by 1intro, the total supply of INTRO is 1 billion tokens. The team holds a 10% share (locked for 1 year, then linearly unlocked over 12 months), while the ecosystem and incentive measures will hold a 40% share (unlocked by 5% monthly).

Chainlink introduces the Transporter application for cross-chain token and message transmission based on CCIP.

On April 12, as reported by The Block, Chainlink has launched the Transporter application for cross-chain token and message transmission based on CCIP. The "Transporter" application, built in collaboration with the Chainlink Foundation and developer Chainlink Labs, aims to provide a user-friendly interface for submitting and monitoring cross-chain transactions on CCIP.

The Arkham platform now supports users in monitoring NYDIG-associated addresses.

On April 12, according to official sources, the Arkham platform now supports users in monitoring and viewing NYDIG-associated addresses.

NYDIG is one of the largest asset management companies in the cryptocurrency field, custoding over 90,000 bitcoins (approximately $6 billion). Its clients include major trading platforms, top mining companies, and large trading firms, with on-chain transaction volume exceeding $300 billion, serving entities such as Microstrategy, Cumberland, and Galaxy Digital.

Pac Finance responds: has contacted affected users and formulated a resolution plan, will enhance governance system in the future.

On April 12, Pac Finance responded on social media to the issue of "sudden parameter change resulting in $24 million liquidation," stating that the team is aware of the problem and is actively working with affected users to devise a plan to mitigate the issue. While adjusting the LTV, the team commissioned smart contract engineers to make necessary changes, but the liquidation threshold was unexpectedly altered without prior notification to the team, leading to the current problem. In the future, the team will establish governance contracts/time locks and forums for all upgrades to ensure advance planning discussions.

CeFi News

Kraken to delist Monero in Ireland and Belgium, balances to convert to Bitcoin on June 10.

On April 11, Kraken announced the delisting of the privacy coin Monero (XMR) in Ireland and Belgium on June 10 this year. All XMR trading and deposits will cease from May 10, and all margin positions should be closed by this date to avoid forced liquidation. XMR withdrawals will stop on June 10, at which point any remaining XMR balances will be automatically converted to Bitcoin.

Bitfinex Securities plans to issue $6.25 million tokenized debt to build a hotel at the El Salvador airport.

On April 11, as reported by The Block, the tokenized securities platform Bitfinex Securities El Salvador SA de CV is launching a tokenized debt issuance to develop a 4,484 square meter Hilton Tru hotel complex at the El Salvador International Airport. The issuance aims to raise $6.25 million, offering a 10% coupon over a five-year term—meaning buyers will receive 10% annual interest on their investment for five years, followed by the return of the principal. The financing will start on May 13, with a minimum investment of $1,000.

Coinbase Derivatives to launch DOGE futures on April 29.

On April 11, according to official sources, Coinbase Derivatives will launch DOGE futures on April 29.

Circle introduces smart contract transfer feature for BUIDL Fund targeting BlackRock.

On April 11, according to official sources, USDC issuer Circle announced the launch of a new smart contract feature that allows for smart contract transfers, targeting BlackRock's BUIDL Fund.

Transfers by holders of BUIDL are provided with near-instant, 24x7 BUIDL liquidity by this smart contract, bringing core advantages such as speed, transparency, and efficiency of tokenized assets to BUIDL investors.

Thailand cryptocurrency exchange Bitkub CEO: IPO valuation could reach as high as $3 billion

On April 12, according to CoinDesk, Jirayut Srupsrisopa, CEO of Bitkub Capital Group, stated that the owners of Thailand's cryptocurrency exchange Bitkub Online plan to sell shares to the public next year, with a potential valuation of up to $3 billion.

Bitkub Capital stated in a 2023 letter to shareholders its intention to sell shares to the public, but did not provide a specific timetable. Jirayut mentioned earlier this month that they plan to IPO next year and the company is in the process of hiring financial advisors.

Coinbase International to launch PEPE perpetual contracts

On April 12, according to official sources, support for PEPE perpetual contract trading has been added to Coinbase International Exchange and Coinbase Advanced. The 1000PEPE-PERP trading pair will be available starting at 9:30 AM UTC on April 18.

Opinion Data

US March PPI year-on-year recorded 2.1%, the highest since April 2023

On April 11, the US March PPI year-on-year recorded 2.1%, the highest since April 2023. Following the data release, the US Dollar Index DXY fell more than 20 points in the short term, US Treasury yields declined, and US short-term interest rate futures rose. (FXStreet)

Ark Invest March report: Still in the early to mid stages of a bull market, CPI bearish but halving and ETF can support prices

On April 11, according to the March report released by Ark Invest, the institution believes that compared to past cycles, the price of Bitcoin is still in the early to mid stages of a bull market. Additionally, the institution is optimistic about the performance of Bitcoin scaling solutions (such as Rollup and sidechains) in this cycle, believing that this sector has been strong since the second half of 2023, and given factors such as the appreciation of Bitcoin prices, these trends may continue in the current bullish cycle.

World App user count surpasses 10 million, with 2 million daily active users

On April 11, according to official sources, Tools for Humanity (TFH) World App, a contributor to the Worldcoin project, has surpassed 10 million users, with 2 million daily active users and over 70 million wallet transactions.

Opinion: The impact of this "halving" on the market is limited, this round of rise will be led more by spot ETFs

On April 11, Brian Dixon, CEO of investment firm Off the Chain Capital, stated: "Looking at the overall demand since the introduction of ETFs, it has already had a huge impact on the supply in the market. Once the halving occurs and the supply further decreases, it is logical for prices to rise."

FalconX Research Director David Lawant stated: "This round of rise is the first time Bitcoin has broken historical highs before the halving, some are concerned that ETFs have prematurely driven demand, and perhaps we will linger at the current levels for a while."

Grayscale CEO: GBTC fees will be reduced when Bitcoin ETF "matures"

On April 12, according to Cointelegraph, Grayscale CEO Michael Sonnenshein stated that fees for Grayscale's flagship Bitcoin ETF will be reduced, currently the highest among all US spot Bitcoin ETFs, but only when these products "mature."

US Bitcoin spot ETF saw net inflows of approximately $91 million yesterday

On April 12, according to HODL15Capital data, the US Bitcoin spot ETF saw net inflows of approximately $91 million yesterday.

Greeks.live: Significant increase in cryptocurrency market volatility this week, halving expectations seem to be overly discounted

On April 12, researcher Adam from Greeks.live posted on social media that the options expiration data for April 12th were:

21,000 BTC options expiring, Put Call Ratio at 0.62, maximum pain at $69,000, nominal value of $1.5 billion.

230,000 ETH options expiring, Put Call Ratio at 0.49, maximum pain at $3425, nominal value of $800 million.

Significant increase in cryptocurrency market volatility this week, with intense competition around $70,000 and $3,500, but major term IVs have seen a significant decline, selling calls has been the main trading activity this month, and halving expectations seem to have been overly discounted.

JPMorgan: "Lackluster" inflow of venture capital into cryptocurrencies may pose downside risks

On April 12, according to The Block, analysts at JPMorgan pointed out that despite the recent recovery in the cryptocurrency market, the relatively low inflow of venture capital funds into the crypto industry this year may pose downside risks.

Funding News

Community Labs founder launches AO Ventures, investing $35 million to promote Arweave and AO

On April 11, Community Labs founder Tate Berenbaum launched a 10-week incubator program AO Ventures aimed at promoting the development of Arweave and AO. The program will start in April and hold a Demo Day in June. Over $35 million in funding commitments have already been pledged to the investment pool.

Arweave (AR) is a decentralized storage project, while AO is a super parallel computing project based on Arweave.

DePIN platform Uplink completes $10 million funding, led by Framework Ventures

On April 11, according to Coindesk, DePIN platform Uplink completed a $10 million funding round, with Framework Ventures leading the round, and other specific funding information has not been disclosed.

Uplink provides decentralized network connectivity, aiming to create better distributed and user-operated infrastructure. Users and businesses will be able to earn tokens as rewards by contributing to the network or using the network. They can integrate existing infrastructure into the Uplink network or install compatible hardware for their community/business. The company plans to launch a token later this year. The statement mentions that Uplink was founded in 2016 and has collaborated with Ericsson, Deutsche Telekom, and E.ON.

Blockchain prediction layer Azuro secures $3.5 million funding, with participation from Fenbushi Capital

On April 11, according to Cointelegraph, blockchain prediction layer Azuro secured $3.5 million in funding, increasing the total funds raised to $11 million (previously raised $7.5 million in 2022). This round of funding was participated by SevenX Ventures, Fenbushi Capital, Arrington Capital, Polymorphic Capital, Red Beard Ventures, Dewhales, and G1 Ventures.

Azuro is an on-chain prediction market network that provides users with a decentralized platform supporting the creation of diverse applications, integrations, and products, supporting thousands of sports markets and other games.

Solana cross-chain auction protocol Mayan completes $3 million seed round funding, led by Borderless Capital

On April 11, the cross-chain auction protocol Mayan completed a $3 million seed round funding, led by 6th Man Ventures (6MV) and Borderless Capital, with participation from Solana Ventures, Hash3, Big Brain Holdings, Arrington Capital, Wormhole Cross-Chain Ecosystem Fund, Solana co-founder Anatoly Yakovenko, and Wormhole Labs co-founder Saeed Badberg (the seed round includes all funds raised by Mayan).

Mayan, built on Solana, aims to find the best rates for users to execute transactions from any blockchain

The protocol converts input tokens into a stablecoin USDC pegged to the US dollar, and then uses Circle's Cross-Chain Transfer Protocol (CCTP) to send it to the final destination. The on-chain system facilitates the transfer between blockchains by burning USDC on the source chain, minting USDC again on the target chain, and communicating between Circle and the source chain.

Regulatory News

JPMorgan reiterates: Ethereum spot ETF approval in May still less than 50%

On April 11, JPMorgan reiterated in a research report that the likelihood of an "Ethereum spot ETF approval in May still less than 50%." The analyst team led by Nikolaos Panigirtzoglou wrote that if the Ethereum spot ETF does not get approved in May, there may be a lawsuit against the SEC after May. The most likely outcome is that the SEC will eventually lose the lawsuit, similar to what happened in the Grayscale and Ripple cases, and eventually approve the spot Ethereum ETF, but not in May.

South Africa begins issuing the first batch of cryptocurrency licenses

On April 11, according to Coindesk, South Africa has started issuing licenses to cryptocurrency companies, with trading platforms Luno and decentralized social investment market Zignaly among the first approved companies. The country's regulatory agency stated that approximately 60 companies will be approved in April.

Yonhap: Montenegro court has once again approved the extradition of Do Kwon

On April 11, according to Yonhap, the Montenegro court has once again approved the extradition of Do Kwon, and the extradition decision will be made by the Minister of Justice, who has repeatedly expressed a desire to extradite Do Kwon to the United States, increasing the likelihood of Do Kwon being extradited to the United States.

Dubai's Virtual Asset Regulatory Agency is seeking to reduce compliance costs for small crypto entities

On April 11, according to Coindesk, Matthew White, CEO of Dubai's Virtual Asset Regulatory Agency (VARA), stated at the Paris Blockchain Week that the agency is currently considering many things to try to make the system and regulations suitable for everyone. One of them is finding a way to handle compliance costs for small (crypto) entities. Currently, the agency observes that there are not many companies with enough resources to comply with regulations, and new regulatory schemes involve larger market participants custodizing smaller market participants.

SEC investigated Dapper Labs but settled in September last year

On April 11, according to Fortune, official documents show that the SEC investigated Dapper Labs but settled in September last year. However, the report did not mention the reasons for investigating Dapper Labs, when the investigation started, or why the SEC decided to settle.

"Satoshi Nakamoto" Craig Wright drops defamation appeal in Norway

On April 12, according to The Block, "Satoshi Nakamoto" Craig Wright has stopped his appeal in a defamation case related to his claim to be the anonymous creator of Bitcoin, which he lost in 2022 in Norway.

Senior members of the US House of Representatives hold a meeting on stablecoin legislation strategy

On April 12, according to Punchbowl News, efforts by the US Congress to establish a regulatory framework for stablecoins are increasingly unlikely to pass this year, but lawmakers pushing the legislation furthest reportedly held a meeting with Senate Majority Leader Chuck Schumer.

Patrick McHenry, Chairman of the House Financial Services Committee, a Republican from North Carolina, and senior Democratic member of the committee, Maxine Waters from California, held a meeting with Chuck Schumer on Thursday in an attempt to advance the legislative process.

Mango Markets attacker could face up to 20 years in prison

On April 12, according to CoinDesk, cryptocurrency trader Avraham Eisenberg may testify in his criminal commodities fraud and manipulation trial, his defense team stated on Thursday. As the case nears its conclusion, they have not made a final decision on this matter.

SBF appeals fraud and conspiracy charges and a 25-year prison sentence

On April 12, according to CNBC, the lawyer of FTX founder SBF has submitted a notice of appeal to challenge SBF's federal fraud and conspiracy charges and a 25-year prison sentence.

SBF's appeal comes two weeks after he was sentenced in a Manhattan federal court for paying a $11 billion fine in a massive fraud scheme involving the cryptocurrency trading platform FTX and the hedge fund Alameda Research. Prosecutors stated that this was one of the largest financial frauds in history.

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