- The crypto world is buzzing this week with significant developments from projects such as AgriDex, EigenLayer (EIGEN coin), and Layer3, sparking excitement and debate within the crypto community.
- Our news this week will delve into the airdrop plans, new token launches, and future plans of these projects.
- From AgriDex’s $5 million investment and upcoming airdrop to EigenLayer’s controversial airdrop and restrictions, and Layer3’s token launch and airdrop plans, the crypto landscape is certainly dynamic.
Explore the latest crypto news, featuring significant developments from AgriDex, EigenLayer, and Layer3. Discover their airdrop plans, new token launches, and future strategies in this comprehensive article.
Solana-based AgriDex Secures $5 Million Investment and Plans Airdrop
AgriDex, a Solana-based platform working on tokenizing agricultural commodities, has secured a pre-seed investment of $5 million from Endeavour Ventures, African Crops Limited, Oldenburg Vineyards, and Hank Oberoi. This investment has elevated the project’s value to $18 million. AgriDex is a platform that enables the tokenization and trading of agricultural commodities, issuing a Non-Fungible Token (NFT) for every transaction made on the platform. According to CEO Herry Duckworth, the platform will launch in the third quarter of this year, along with its own cryptocurrency. AgriDex tokens will be used to reward users based on their transaction volumes and interactions on the platform, encouraging their participation. The platform plans to organize an airdrop for its community in the coming months. Duckworth also revealed plans for a bulk token sale at $0.10 per unit.
EigenLayer and EIGEN Coin in the Spotlight Over Airdrop and Restrictions
Decentralized finance (DeFi) protocol EigenLayer, valued at $15 billion, has caused a stir in the crypto world with its upcoming token launch. The project is preparing to distribute its eagerly anticipated EIGEN token through an airdrop starting on May 11. However, excitement over the free token distribution has been overshadowed by the exclusion of users from the US, China, and other regions. Eigen Labs cited regulatory uncertainties as the reason for the restrictions imposed on users from the US and China. This decision has, as expected, drawn criticism from the crypto community. Messari analyst Kunal Goel pointed out that the EIGEN token airdrop is the primary incentive to encourage users to invest in the service. Goel expressed concern that many early supporters would be unable to claim their tokens due to the new restriction, which also covers VPN users and residents of some other countries. Similarly, Nick Cote from Secondlane expressed dissatisfaction with Eigen Labs’ lack of transparency regarding legal restrictions. In response to the crypto community’s criticisms, EigenLayer announced plans to revise its airdrop plans, allocating an additional 28 million EIGEN tokens.
Layer3 Announces Its Own Cryptocurrency and Airdrop Plans
Lastly, Layer3 announced plans to launch its own cryptocurrency and organize an airdrop this summer. According to the announcement, the total supply of Layer3 tokens will be 300 million, with 51% allocated to community members. The economic details of the token will be announced in June 2024. Owners of the Layer3 token will not only have a say in the protocol’s management but will also benefit from staking tools. In the first phase of the airdrop, 5% of L3 tokens will be distributed to long-time supporters and those who mint CUBE. The Layer3 team announced that multiple airdrops would be conducted, with details to be shared in the future.
Conclusion
This week’s developments in the crypto world highlight the dynamic nature of the sector, with projects like AgriDex, EigenLayer, and Layer3 making significant strides. From securing investments and planning airdrops to launching new tokens and revising plans in response to community feedback, these projects are shaping the future of the crypto landscape. As the crypto world continues to evolve, it will be interesting to see how these projects progress and what impact they will have on the wider crypto community.
