57k Wallets Claim $ENS Token Airdrop

Tuesday, November 9, 2021

Quick Take

  • Ethereum Name Service (ENS) launches its public token airdrop to more than 137k wallets.

  • Matter Labs raises $50 million in Series B funding for its zK-Sync scaling solution.

  • Coinbase releases a fully standalone Coinbase Wallet browser extension.

  • Across Protocol launches an Arbitrum to L1 Ethereum fast bridge.

  • Apple CEO Tim Cook admits he owns Bitcoin and Ethereum.

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$ENS Reaches ATH As DAO Goes Live

Ethereum Name Service (ENS) has officially launched its public token airdrop to more than 137k ethereum addresses. Within 24 hours of the token’s release, $ENS reached a high of $67 per token. Majority of eligible users are able to claim roughly between 50 to 500 tokens with a small number of long-time users claiming upwards of 1,143 tokens. It marks one of the largest dollar value airdrops, amounting to upwards of $70k for some users.

Anyone who registered a .ETH second level domain before October 31st is eligible for the airdrop. More than 57k wallets have already claimed their tokens. ENS has a capped supply of 100 million tokens with 25% allocated to the public airdrop, another 25% allocated to ENS contributors, and the remaining 50% allocated to the DAO community treasury.

More than 400 ethereum community members and broader ecosystem companies such as Coinbase have signed up to be a delegate for the ENS DAO. Users can designate a delegate when claiming their tokens on claim.ens.domains. Trading pools have already opened on Uniswap and 1inch, with Binance opening trading for its users later this week. ENS is currently hovering $85 at the time of this newsletter.

Matter Labs Raises $50 Million Series B Round

Matter Labs, the company behind ethereum-based scaling solution zK-Sync, has raised $50 million in series B funding. The round was led by a16z with participation from Placeholder VC, Dragonfly Capital, and 1kx. zkSync uses zero-knowledge rollups, which through advanced math, generate proofs to validate transactions.

zkSync will also support EVM-compatible composable smart contracts in v2 of its protocol. It is the first ZK rollup with a ported Solidity dapp live on testnet. zkSync has been live on Ethereum mainnet since July 2020, powering over 4M transactions. Matter Labs intends to use the funds to further expand its engineering team. The company had closed a $6 million Series A earlier this year.

Across Protocol Launches Fast Bridge

Across Protocol, a L2 to L1 fast bridge, has launched on mainnet with initial support for Arbitrum. Users can now bridge USDC, ETH, and UMA from Arbitrum back to L1 Ethereum. The bridging function works by incentivising relayers to offer short-term loans to users on L1, which are repaid after two hours from a liquidity pool. The pool is then refilled when the funds arrive from L2 transactions which are insured by UMA’s Optimistic Oracle.

Coinbase Wallet Releases Chrome Extension

Coinbase has released a fully standalone Coinbase Wallet browser extension. Users can use the wallet to browse dapps, use decentralized exchanges, and collect NFTs right from their desktop browser. Users can either create a new wallet on the extension or import their recovery phrase to access an existing Ethereum wallet.

Users can also use WalletLink to use the browser extension as a linked account and handle confirmations and signing from the mobile app without having to import a recovery phrase. Users can manage WalletLink connection settings in the Coinbase Wallet mobile app. The Coinbase Wallet extension is currently available on the Chrome web store.

Apple CEO Tim Cook Admits He Owns Ethereum

Apple CEO Tim Cook admitted he owns bitcoin and ethereum during an interview at The New York Times DealBook conference.

Cook denied the possibility of Apple buying cryptocurrency with corporate funds as an investment, adding that he doesn’t think people buy Apple stock to get exposure to crypto. Cook also said that Apple is looking at cryptocurrency technology, but does not have immediate plans to support crypto.