Filecoin (FIL) Falls 3.3%, Leading Index Lower

Ondo brings Treasury-backed yieldcoin USDY to Stellar, unlocking global payments with daily yield accrual. Retail and institutions can now use USDY for savings, DeFi collateral, and remittance flows. Ondo Finance has officially launched its United States Dollar Yield (USDY) on Stellar, broadening access to yield-bearing assets tied to U.S. Treasuries. The announcement came on September [...]]]>

The post Wormhole Jumps 11% on Revised Tokenomics and Reserve Initiative appeared on BitcoinEthereumNews.com. Cross-chain bridge Wormhole plans to launch a reserve funded by both on-chain and off-chain revenues. Wormhole, a cross-chain bridge connecting over 40 blockchain networks, unveiled a tokenomics overhaul on Wednesday, hinting at updated staking incentives, a strategic reserve for the W token, and a smoother unlock schedule. The price of W jumped 11% on the news to $0.096, though the token is still down 92% since its debut in April 2024. W Chart In a blog post, Wormhole said it’s planning to set up a “Wormhole Reserve” that will accumulate on-chain and off-chain revenues “to support the growth of the Wormhole ecosystem.” The protocol also said it plans to target a 4% base yield for governance stakers, replacing the current variable APY system, noting that “yield will come from a combination of the existing token supply and protocol revenues.” It’s unclear whether Wormhole will draw from the reserve to fund this target. Wormhole did not immediately respond to The Defiant’s request for comment. Wormhole emphasized that the maximum supply of 10 billion W tokens will remain the same, while large annual token unlocks will be replaced by a bi-weekly distribution beginning Oct. 3 to eliminate “moments of concentrated market pressure.” Data from CoinGecko shows there are over 4.7 billion W tokens in circulation, meaning that more than half the supply is yet to be unlocked, with portions of that supply to be released over the next 4.5 years. Source: https://thedefiant.io/news/defi/wormhole-jumps-11-on-revised-tokenomics-and-reserve-initiative

PANews reported on September 23 that according to PR Newswire, Nasdaq-listed company Smart Digital Group Limited announced that it will establish a diversified cryptocurrency asset pool, with a strategic focus on investing in cryptocurrencies such as Bitcoin and Ethereum that are stable, transparent and consistent with the company's long-term strategic goals.