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Ethereum bridge Hop Protocol unveils token and airdrop for early users

Hop Protocol, a multi-chain bridge on Ethereum, announced a new governance token under the ticker HOP and an airdrop for early users in an official statement on Thursday.  The token launch will help Hop organize itself as a decentralized autonomous organization called Hop DAO. Hop is a popular cross-chain bridge connecting Ethereum with other EVM-compatible blockchains. The bridge lets Ethereum users transfer funds between Polygon and Gnosis sidechains, as well as some Layer 2 networks including Arbitrum and Optimism. Since …

Another NFT marketplace, x2y2, begins vampire attack on OpenSea

NFT marketplace x2y2 has launched a vampire attack on the market leader OpenSea, airdropping millions of tokens to its user base. It follows in the footsteps of LooksRare, which did a similar launch last month, but has a different strategy that it hopes won’t end up resulting in persistent wash trading. A vampire attack is where a project hands out tokens to users of a pre-existing blockchain project. The goal is to incentivize the target audience of a similar project …

What the heck are the OpenDAO and its SOS token?

Late last week, a new decentralized autonomous organization (DAO) called the OpenDAO suddenly emerged to distribute free tokens to users of OpenSea, the largest NFT marketplace. According to its website, the goal of the OpenDAO (not to be confused with a stablecoin minting protocol by the same name) and its SOS token is “to pay tribute, to protect, to promote” the NFT community.  Specifically, anyone who has transacted on OpenSea before December 23 can claim free SOS tokens via the airdrop. …

BitMEX to launch and airdrop its native token BMEX

BitMEX, one of the oldest crypto derivatives exchanges, is set to launch its own token and will airdrop to both its existing and new users. Announcing the news on Tuesday, BitMEX said its upcoming BMEX token will be airdropped by February 1, 2022, in its customers’ exchange wallets.  The first 50,000 new users with completed KYC can register to get 5 BMEX tokens and 10 Tether (USDT) stablecoins. Existing traders will get BMEX tokens as they trade. Specifically, they can …