There are a few key events in the major cryptocurrency news this week. This article provides opportunities for traders and investors to stay ahead of the respective ecosystem developments.
From the upcoming Jupiter airdrop news to the launch of the Dusk mainnet, this week is packed with many cryptocurrency events.
THORChain, Integrates Base L2
In October, the Nine Realms, which supports the THORChain ecosystem, unveiled the network's roadmap. This indicates plans to support Base L2 for cross-chain swaps.
"Base could be the next major chain to connect to THORChain. The Nine Realms team is working to deliver it to the mainnet." - Excerpt from a Medium post.
The integration is expected in the second week of January according to reports. Jade, known for THORChain ecosystem updates, explained in a 2025 preview that it's getting closer.
THORChain uses the IBC (Inter-Blockchain Communication protocol) to bring additional assets to the app layer. By connecting to more chains, THORChain increases liquidity and provides a better experience for liquidity providers (LPs).
USUAL Fee Switch Activation
The USUAL fee switch mechanism will be activated on Tuesday, January 7, 2025. USUAL, the real-world asset (RWA) stablecoin protocol, announced this news in a X (Twitter) post on January 1.
"The era of fee switching is upon us. 2025 is the turning point for DeFi: true value, true distribution. Get ready for USUAL on January 7th. New year, new standard. Let's make 2025 the year of USUAL." - The network said.
The fee switch is gaining attention in the decentralized finance space. It transforms passive token ownership into a more rewarding experience. The fee switch allows the redistribution of collected fees to key stakeholders such as liquidity providers, stakers, and token holders.
The USUAL fee switch activation on January 7th can usher in a new era for the ecosystem. It prioritizes true value and fair distribution. This change can set a new benchmark for success within the DeFi sector.
Simultaneously, the activation may also impact the competitive dynamics between decentralized exchanges (DEXs). This could allow major DEXs to maintain higher fees to strengthen their position. However, there are questions about how high these fees can go without losing liquidity and trading volume.
ZKSync Incentive Program
The ZKsync incentive program is set to launch on January 6th. Up to 300 million ZK tokens are expected to be distributed to DeFi users.
"The official launch time for Ignite is scheduled for Monday, January 6th, 2025, at 1 PM UTC." - ZKNation recently shared in a forum post .
In this first phase, the network will provide incentives across similar pools and assets across participating protocols. The network uses a standardized structure to identify high-growth candidates. The network evaluates pool performance. Key metrics include similar pool APRs, incentive $ per TVL growth, fee generation, and the ratio of aggregated swap paths.
In addition to the major asset pools, ZKNation is also incentivizing bridging ZK to the ZKsync Era, particularly using the Jumper Exchange allocation to encourage users to bridge funds to the ZKsync Era and deposit into the incentive pools.
Simultaneously, the LayerSwap allocation targets users with funds on ZKsync Lite, incentivizing them to bridge this capital to the ZKsync Era.
"Most people seek stable pairs or deposit into lending protocols, but they are not maximizing their capital." - An airdrop farmer on X joked.
Jupiter Airdrop Checker Launch
The initial Jupiter airdrop remains one of the most successful cases on Solana. The launch of the airdrop checker this week is one of the major cryptocurrency news items. Jupiter is set to launch the checker this week, with 700 million JUP tokens expected to be airdropped.
"Jupiter will airdrop 700 million tokens. The first draft layer is expected to change significantly." - Jussy.Sol, a DeFi and airdrop researcher, said.
The details, dates, times, and eligibility criteria for the 2025 airdrop have not yet been widely disclosed. Participants will need to actively increase their buying, selling, and trading on the Jupiter platform. Airdrop rewards are typically determined based on user activity.
After the performance record in the initial allocation, the second Jupiter airdrop is poised to become one of the largest airdrops in cryptocurrency history. However, the price impact of the JUP token is still a subject of discussion.
"Will it impact the token price? No. There is a big difference between a purposeless airdrop and a strong DAO-linked airdrop with 30% token burning. The team did not create selling incentives, and through voting, you can earn +20% over 4 months. So the token price will not be significantly affected. When Camino launched Season 2, the token price actually went up." - Jussy.Sol added.
Second Hearing for Do Kwon
The second U.S. congressional hearing for Terra founder Do Kwon is scheduled for January 8th, adding to the list of major cryptocurrency news this week. This development comes just days after Kwon pleaded not guilty to U.S. fraud charges. It is related to the $40 billion collapse of TerraUSD and Luna in 2022.
Here is the English translation:At the Wednesday hearing, the defense and prosecution will discuss the consent order and evidence that will lead to the trial. According to BeInCrypto, even if the controversial cryptocurrency executive seeks a settlement similar to the SEC (Securities and Exchange Commission) settlement, the possibility of going to prison is still high.
Although the US government's pro-cryptocurrency sentiment is increasing, the prosecution is still eager to punish major fraudsters like Sam Bankman-Fried. Therefore, the high-profile case of Kwon Do-hyung is expected to attract attention.
Dusk Mainnet Launch
Dusk, a ZK-friendly L1 Block, will launch its mainnet on January 7th and create the first immutable Block as part of the Token Generation Event (TGE). This will pave the way for a blockchain-based financial system.
"From today, we officially enter the mainnet rollout phase. Starting with the DUSK on-ramp, the first immutable Block will be created on January 7th." - The Dusk Foundation said in a December post.
The notable point is that the Dusk mainnet will enable organizations of all sizes to use the blockchain for regulated assets. It also allows blockchain-based stock exchanges to issue assets on-chain. Furthermore, other Real-World Asset (RWA) projects can securely comply with their protocols and applications using DUSK. It also allows developers to create privacy-friendly protocols.
Dusk has gained attention with a $5 million grant program and a "succinct proof" consensus mechanism that facilitates the on-chain issuance of regulated assets.
