The Block
PancakeSwap will pay up to $8 million to Uniswap users who have paid high interface fees on its competitor’s platform. Eligible traders must match their Uniswap v3 holdings on PancakeSwap v3. The reimbursement campaign comes after Uniswap hiked its interface fees from .15% to .25% in April.
Drift Foundation has officially launched its token and opened airdrop claims. The airdrop consists of 120 million DRIFT tokens with a bonus component.
Viral web3 clicker game Notcoin has launched its cryptocurrency on the TON blockchain. Over 80 billion NOT tokens have been airdropped to participants amid crypto exchange listings.
The memecoin market cap today stands at $58 billion — having gained 10% in the last 24 hours — according to CoinGecko data.In contrast, the total cryptocurrency market cap increased by 5.5% over the same period, with the bitcoin price posting a 6% uptick.
Bitcoin short liquidations have spiked above $48 million in the past 24 hours.Bitcoin’s price has increased over 6% during this time, currently trading at $66,300
MakerDAO founder Rune Christensen said a future token named PureDai will serve as a fully decentralized alternative to Dai. PureDai will use ether and stETH as collateral and will have a free-floating peg. Dai holders will have the option to upgrade to PureDai once it becomes available, which is expected in a few years.
Quick Take This is an excerpt from the third edition of The Funding newsletter sent to our loyal readers on June 1. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
QCP Capital expects the bitcoin price to return to $74,000 after the latest CPI print saw risk assets surge.
The Chicago Mercantile Exchange (CME) Group is considering launching bitcoin spot trading, according to a report.Discussions have been ongoing with traders, though the plan for spot trading rollout has not been finalized.
Quick Take Police in China have busted an underground bank that conducted foreign currency exchanges using USDT. The operation involved transactions worth about 13.8 billion yuan ($1.9 billion).
