Weekly Crypto Recap (April 15th - April 21st)

Here's a weekly recap from Metaverse.SG, highlighting the most notable crypto events this week:

• Market Overview
• ZKasino SCAM for $30M
• Airdrops Distributions
• Upcoming Airdrops

Let’s dive headfirst into the main crypto news of this week!

Market Overview

BTC recovers from wild fall to $59,000

The halving occurred, reducing the block reward from 6.25 BTC to 3.125 BTC

High demand for runes significantly increased mining rewards. In the first blocks, miners received up to 40 BTC per block, instead of the usual 3.125BTC.

Zkasino SCAM for $30M

Zkasino is a decentralized casino that utilizes Zksync and Eigen Layer technologies.

Well, it sounds like a scam, but 95% of crypto consists of such crap. With memecoins pumping every day, people believe this could be the next one.
 On March 19, ZKasino announced their Series A round at a $350M valuation, raising $26.2M.

MEXC, Big Brain VC, Trading Axe, Pentoshi, and 0xSisyphus were involved.

(15% TGE, 3 months cliff, 15 months linear, according to CryptoRank).

In addition, the Founder of ZKasino worked at ZigZag and Syncus some time ago. These weren't so good, but at least not a scam.
 

In addition, VCs bought at the same valuation as KOLs. Imagine raising a Series A round one week after ours at 10x valuation. If they invested at $350M, not so Big Brain.

On March 20, they tweeted about hosting a side event at Token2049. However, the event was canceled due to weather conditions.

Back then, this was truly a green flag, as the team could doxx during the event.

ZKasino had initially planned IDOs on Ape Terminal and AIT Protocol.

However, both got canceled along with the last-minute cancellation of the listing on MEXC.

This is where the FUD began.

On March 17, both Derivatives_Ape and ZKasino_io posted tweets announcing a program where anyone could lock ETH and farm $ZKAS.

They called it the most honest type of distribution: lock ETH -> get tokens. Afterward, we will be able to get ETH 1:1 back.

Cross-chain bridge CA: 0x9144E18C28338516f0ACe99Bc88DE34aaE59Be45

"Afterward, we will be able to get ETH 1:1 back".

Initially, there was a statement on the homepage promising the return of pre-mined Ethereum, but this statement has since been removed.

"AS A FAVOR", they decided to convert ETH into yet-to-born $ZKAS at $500M FDV (calculations made) and 5% on TGE.

In a Medium article they posted, they shared links to RPC, bridge, and explorer. The funny thing about this is that bridge and RPC don't work.

25% of the $ZKAS supply was allocated to farmers who are locking ETH; that's basically why people locked their ETH. R/R was good.

FUD became bigger.

In the Zkasino investors chat, XBT Prometheus was acting inadequately when KOLs began asking questions.

The funder's attitude towards investors is evident from the screenshots provided.

Where is ETH?

The team transferred all funds into farming.

All ETH have now been swapped to wstETH and sent to Lido for staking.

Address: 0x7911fea7b36fbd58a771bbf907aad2ef4bdcc491

Source: Thread

 

Airdrop Distribution

Avail:

Criteria to be Eligible for Airdrop:

• Testnet participants (nodes and Light Clients) - 49.5 mln $AVAIL;
• Users of Arbitrum, Optimism, zkSync, StarkNet - 380 million $AVAIL;
• Developers - $90 million $AVAIL;
• Polygon PoS stakers - $70 million $AVAIL;
• Community Contributions - $10.5M $AVAIL.

📆 Claim Deadline: May 4 11:49 UTC

📸 The snapshot was taken on March 31.

Upcoming Airdrops

 

Scroll:

Scroll launches its Loyalty program

 

To be eligible and get some "Marks", all you have to do is:

👉Bridge ETH & wstETH via the native bridge

• https://scroll.io/bridge

👉Bridge Stone via LayerZero (So double airdrop farming)

• https://app.stakestone.io/u/bridge
  
   

❗More assets and ways to obtain Scroll Marks will be announced later
❗Marks will be retroactively allocated if you have deployed assets on Scroll since October 10th, 2023


 

Memeland & Runecoin Airdrop:

 

Memeland announces airdrop with Runecoin

Step-by-Step Guide:

You have two ways to earn Steak
 

Stake your MEME to earn STEAK

• You can unstake your token anytime.
• 

Farm to Earn STEAK 

• Go to link
• Connect your wallet & X account
• Complete Social Fi task to earn points
• 
  
   

Conclusion:

• Stay tuned
• Stay updated instantly on our X 👉 https://x.com/MetaverseSG. 
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