Morning Minute | 2 New Airdrops To Watch

Morning Minute | 2 New Airdrops To Watch

TylerD's Market Summary

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⚫️ Wormhole Introduces Tokenomics, Confirms Airdrop

Airdrops are hot. 

So is bridging and swapping across blockchains in this new mutli-chain crypto economy.

Wormhole is bringing together those 2 worlds with its forthcoming airdrop, one that has some high expectations.

What Is Wormhole?

It's a cross-chain bridge, enabling traders to move crypto from EVM chains (i.e. ETH, Arbitrum, Polygon, Avax, Op, etc.) to Solana.

In that way, it's a competitor to other bridges like Layer Zero or Mayan Finance.

On Tuesday, they introduced their new multichain DEX aggregator Hashflow, enabling cross-chain swaps.

So for example, traders can move ETH on Arbitrum to SOL on Solana in one move (a bridge and swap).

This is very useful functionality for those operating daily (or even weekly) across chains.

And it's had major backing, raising $225M already at a $2.5B valuation - huge for the potential token valuation.

Airdrop TLDR

Ok now for the good part.

Yesterday Wormhole released its tokenomics for its upcoming token launch.

And a whopping 17% is coming to the community.

Key Wormhole token details:

  • Ticker: W
  • Supply: 10B, with 1.8B initial circulating
  • Token format: ERC20 and SPL20
  • Airdrop: 11% upfront (1.1B) and 6% after 4 months
  • Unlock: 82% of token to unlock over 4 years (about 27% at Y1, 50% at Y2)
  • Allocation:
    • 31% ecosystem and incubation
    • 23.3% foundation treasury
    • 17% community and launch
    • 12% core contributors
    • 11.6% strategic network participants
    • 5.1% to guardian nodes

How To Participate

While a snapshot has already been taken for the day 1 airdrop, interacting with the Wormhole Bridge is your best bet to go after that bonus 6%.

This would mean bridging crypto, swapping, wrapping and bridging NFTs, etc.

Anyone who has taken those actions over the past months is likely eligible.

Sammy put together a nice thread highlighting some more in-depth actions to take, so check that out if you're interested.

We got a hint on Tuesday that Wormhole would be targeting some NFT communities, with a teaser highlighting Degods and y00ts, along with Mad Lads.

So perhaps there will be a fun surprise in store for some NFT holders.

We will find out soon.

⚫️ $RUG Comes for Bitcoin

While Wormhole is targeting users across chains, today's new airdrop is aiming for just one - Bitcoin.

Today, Saturn will airdrop its native $RUG to all eligible wallets.

Saturn is a decentralized exchange (DEX) for fungible tokens on BTC. Think BRC-20s, or Runes (coming soon).

Key airdrop details:

  • Token uses a new standard called Rings (a new distribution tool for airdrops on BTC)
  • Holders of Ordinals Rugs NFTs will receive specific allocations
  • Over 100,000 wallets are eligible
    • Including holders of various BTC NFT projects (OMB, Puppets, Nodes, Frogs)
  • Those who have signed up and used Saturn will receive additional tokens and bonuses
  • It's important for those interested to have up to 100,000 SATs in their wallet

That last point is one that has stirred up some early controversy however.

It seems the way this works is, existing satoshis in users' wallets will have $RUG layered on top of them.

Some have compared it to how Rare Sats are still fractional BTC but also contain their own value beyond the pure currency (i.e. Pizza Sats).

This is because the Rings token standard works by "marking" existing satoshis, creating its new token supply in this way.

So it's not a net new token injection - effectively an over-write.

If this works, perhaps it will spawn a new age of airdrops using this token standard on BTC. At least the team is here is innovating and trying new things.

"The dawn of Defi on Bitcoin" continues...

🚚 What else is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

  • ETH trading volume jumped to $25.5M on Wednesday, led by Pandora and the ERC404 craze, with several NFTs seeing major gains
  • Pandora led notable top movers on ETH, jumping another 115% to 11 ETH while its native $PANDORA token reached a $250M marketcap; Froggy Friends jumped 422% to 0.23 after an ERC404 announcement, Pillheads +365% to 0.2, and Cyber Frogs +222% to 1.3 ETH
  • Farm Land by Pixels jumped 50% after Binance announced $PIXEL could be farmed on its platform
  • CryptoPunks announced a new "Punk in Residence" program, featuring Nina Chanel as their inaugural artist
  • MetaStreet shared plans to integrate into Blast's L2 along with Thruster for its NFTfi protocol, including a triple-point farm for early users
  • Niceaunties completed its mint yesterday and reached a 0.22 ETH floor in early secondary trading
  • Quantum Cats led action on BTC with 48 BTC in trading volume, though holding steady at 0.3 BTC even after a French Montana tweet; RSIC held at 0.113 BTC, Puppets at 0.081 and Nodes at 0.18
  • New BTC generative art project Deus Ex Machina rallied 50% on the day to a 0.038 BTC floor in its 2nd day of trading
  • Solana NFTs were overshadowed by SPL20s on Wednesday with the hybrid tokens Ghost (+74%) and Vice (+100%) seeing massive gains following the ERC404 craze
  • Modern Zombies minted out it AI art collection on Solana, using Rubber and Smile holders for WL; the project 15x'd from mint (0.2 SOL) to a 3.1 SOL floor
  • Solana Mobile's Saga 2 reached 85% pre-orders for its next gen phone, now 85% of the way to sell out

🌎 Around Crypto and Web3

A few other Crypto and Web3 headlines that caught my eye:

🚀 NFT Total Volume (ETH)

  • MAYC (1,265 ETH, 4.34 ETH Floor)
  • Nobody (1,244 ETH, 0.62 ETH)
  • Pudgy Penguins (998 ETH, 17.5 ETH)
  • DeGods (690 ETH, 2.96 ETH)
  • Azuki (668 ETH, 6.47 ETH)

📈 NFT Floor Price Increase (ETH)

  • Froggy Friends (404%, 0.23 ETH Floor)
  • Pillheads (337%, 0.2 ETH)
  • Pandora (115%, 11.2 ETH)
  • Ghostly Ghosts (79%, 0.21 ETH)
  • Farm Land by Pixels (48%, 2.08 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is another art-focused day of drops with some marquee launches.

Pebbles is coming from Zeblocks and the Punk6529 team via NextGen, as the first generative drops on its NextGen contract. It will be a multi-phase allowlist, so check 6529's X page for latest details.

Verse is back with a highly anticipated drop from Jeres called "Heuristics of Emotion"

See the full list and dive in for more details with Swizzy's daily mint monitor

  • ZeBlocks "Pebbles" (11:00 a.m. ET)
  • Jeres x Verse - Heuristics of Emotion (1:00 p.m. ET)
  • Shrapnel STX1 Launch (4:00 p.m. ET)
  • Postwook - Where My Roots Have Been (6:00 p.m. ET)

Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.