The digital asset landscape continues to evolve with Memeland's introduction of Stakeland, a social staking protocol designed to foster community engagement in the cryptocurrency space. Developed by the creators of Memecoin and the popular online platform 9GAG, Stakeland presents an innovative approach to staking crypto assets, offering users the opportunity to earn tokens from emerging projects.
Understanding Stakeland's Mechanism
Stakeland operates by allowing users to stake their MEME coins or other cryptocurrencies to receive 'Steaks', which can then be 'burnt' to acquire new tokens from projects launched on the platform. The protocol emphasizes user participation through entertaining quests that educate them about these new ventures. Moreover, Stakeland aims to provide these projects with an early supporter base comprised of committed and knowledgeable holders, as opposed to disinterested or automated participants.
According to Stakeland's strategy, this model assists new projects in avoiding low-quality contributors who lack genuine interest in their development. The protocol also claims the ability to connect new projects with roughly one million on-chain holders, offering significant exposure at minimal cost and effort.
Wormhole Reveals Airdrop Specifications
In a separate development, Wormhole has disclosed details regarding its anticipated airdrop. The snapshot for eligibility was taken on February 6, 2024, at 23:59 UTC, with over 400,000 wallets qualifying for participation. The total airdrop supply amounts to 678,823,000 W tokens, which constitutes 6.78% of Wormhole's total supply.
The distribution of the airdrop is set to allocate roughly 81% (approximately 549 million W tokens) to onchain users, while community groups will receive about 19% (around 129 million W tokens). This strategic allocation aims to reward both individual users and the broader community that supports Wormhole's ecosystem.