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Optimism falters under high traffic following OP token launch

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Optimism experienced a debilitating high load after its governance token OP launched, causing delays on the Optimism blockchain mainnet and remote procedure calls (RPCs).  The network delays are particularly notable given the attention Optimism’s token drop has received, following in the wake of other high-profile airdrops that encountered turbulence as well in their efforts to dole out tokens to community members and other stakeholders. Compounding the issue are indications that some participants were able to claim tokens ahead of the …

Optimism (OP) token to hit market today, centralized exchanges say

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Quick Take Optimism’s native token is all set to be available for trading today under the symbol OP.  Several exchanges have said they will list the token for spot trading. Optimism’s upcoming governance token OP will likely hit be launched today and be available for trading on centralized exchanges, according to multiple announcements by third parties. Several exchanges, including OKX, LBank, MEXC, and AAX, have released blog posts announcing plans to list the Optimism token at different times later today. …

Terra gets second life as new blockchain goes live with LUNA 2.0 airdrop

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Terra’s new blockchain launched on mainnet today at 6 am UTC and is now generating blocks, according to Terraform Labs CEO Do Kwon. The new chain aims to revive the Terra ecosystem after its UST algorithmic stablecoin imploded a couple weeks ago. The collapse of Terra’s tokens wiped out some $40 billion in market value.  Following the fiasco, Terraform Labs, the core development firm behind Terra, proposed a new blockchain. It took only a few days after that proposal was …

Optimism cracks down on airdrop farmers, removing 17,000 addresses

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Ethereum scaling solution Optimism has reduced the number of wallets that are eligible to receive its upcoming airdrop. According to a post on Twitter yesterday, Optimism has removed 17,000 addresses that it thinks were traders trying to deliberately game the system. This is a process known as airdrop farming, or also called a sybil attack. It’s done by those who are speculating that a project might do an airdrop. To do this, they spin up a lot of wallets and …

Coinbase shows price page for Optimism, suggesting a token could be on the way

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Sleuths on Twitter have noticed that Coinbase has added a price page for an Optimism token — despite one not existing yet. It doesn’t show any price data but the page features the Optimism name and can be currently accessed. There could be a few different explanations for this. Perhaps Coinbase is undergoing testing for these pages or a rogue employee decided to make this page just to cause rumors. Or, as was the case with Robinhood, this could suggest …

Someone borrowed 5 Bored Apes to claim $1.1 million of APE tokens

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Yesterday, Yuga Labs, the creators of Bored Ape Yacht Club (BAYC), airdropped ApeCoin (APE) to anyone who owns one of their NFTs.  The team allocated 150 million tokens or 15% of the total ApeCoin supply to holders of Bored Ape Yacht Club and Mutant Ape Yacht Club collections, amounting to a staggering value of more than $800 million. Each BAYC holder got 10,094 tokens, valued anywhere between $80,000 to $200,000. But someone found a way to claim the airdrop, using …

Airdrop for Ethereum, Cosmos power users set to take place next week

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Cosmos-based project Evmos is planning to launch its token airdrop on February 15, according to co-founder Federico Küllmer. Evmos is a project that seeks to link up the Cosmos and the Ethereum ecosystems. Cosmos is a network of blockchains, which are all designed so that tokens can be sent between them. While blockchains in the Cosmos ecosystem aren’t natively compatible with Ethereum (specifically the Ethereum Virtual Machine), Evmos seeks to be the first that is. And in doing so, it’s …

A look at the fees.wtf airdrop and what went wrong

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On Thursday evening, crypto information site fees.wtf launched an airdrop for members of the crypto community. Only, it didn’t go so well. The website became popular because it enabled anyone to see how much they’ve spent in transaction fees on the Ethereum blockchain over the years. In some cases, people who spent a lot on transaction fees when ether (ETH) was cheaper could find out that those tokens would now be worth a lot more — sometimes even millions of …