GeckoPulse: Get Ready for Plasma Chain!

Preparing for Plasma

Plasma, the stablecoin Layer-1, will launch its mainnet next week on September 25, along with its native XPL token.

Upon launch, the network will have the 8th largest stablecoin reserve, with over $2B in TVL from day one.

As per the team's recent launch announcement, funds from Plasma vault deposits will be bridged to the network, where users can experience zero-fee transfers through the Plasma dashboard.

Previously, in July, Plasma conducted an XPL community sale, where 10% of the 10B token supply was sold at a valuation of $500M.
An additional 25M tokens will be deposited into smaller participants who have completed the necessary KYC procedures.

Furthermore, 2.5M tokens will be airdropped to users with specific roles in Plasma's Discord channel, with distributions ranging from 7,500 XPL to 30,000 XPL.

Since the sale was completed, the pre-launch price of XPL has increased by over 13x from its initial sale price of $0.05 to $0.65 today.

Unleash the ICOs

US-based crypto exchange Kraken has teamed up with fundraising platform Legion to offer ICO deals to users.

The token sale platform, known as Kraken Launch, aims to offer full transparency on users and allocations, leveraging Legion Scores to filter out bots and harmful participants.

With this partnership, new sales will be launched concurrently on Kraken Launch and Legion, and will be conducted on a first-come-first-serve basis.

The relevant tokens will then be listed shortly on Kraken after the conclusion of each sale.

The platform has already teased the launch of its first sale, but more details will be revealed in 3 days.

A Big W for W

Cross-chain protocol Wormhole has announced a tokenomics overhaul for its native W token.

As the team announced in a recent blog post, the Wormhole 2.0 upgrade will consist of three main features.

Firstly, a Wormhold Reserve holding W tokens will be established and funded through on-chain and off-chain protocol revenue.

Next, the team will implement a baseline staking yield of 4% for governance participants, which will be subsidized using protocol fees and the remaining token supply.

Finally, large annual token unlocks will be converted into bi-weekly unlocks starting October 3.

However, it's worth noting that no additional tokens will be emitted, and the total supply will remain at 10 billion.

Since the announcement, the price of W has surged by 23.1% from $0.088 to $0.11.

Have You Seen this Person?

The threat of North Korean hackers in the crypto space is ever present, and various parties are stepping up their efforts to prevent more projects and users from becoming victims.

Binance co-founder Changpeng Zhao recently highlighted the various tactics employed to infiltrate crypto firms, such as posing as potential hires, posing as customer support, and even outright bribing official employees for information.

The whitehat hacker group known as the Security Alliance, or ‘SEAL’ team, has also published the profiles of more than 60 different North Korean hackers and their aliases.

The database includes information such as fake names, email addresses, citizenships and locations.

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