Midnight Network Releases NIGHT Token Economics and "Glacier Drop" Mechanism
According to Coindesk, the privacy-focused blockchain project Midnight Network has released its token economics whitepaper and announced the "Glacier Drop" mechanism for its native NIGHT token, with token claiming to start next month. The "Glacier Drop" will be conducted in three phases, involving eight major blockchain ecosystems including Bitcoin and Ethereum. Starting in July, eligible wallets that held at least $100 in native tokens during the pre-snapshot can claim their full quota during the 60-day claiming period. This will be followed by a 30-day "treasure mining" phase where unclaimed tokens will be redistributed to participants who complete computational tasks. After the mainnet launches later this year, a four-year "lost and found" phase will begin, allowing original claimants who missed the initial claim to recover part of their quota through self-verification. To prevent supply impact, NIGHT tokens will be randomly unlocked in four stages over 360 days. Midnight Foundation Chairman Fahmi Syed stated that this mechanism reflects their "rational privacy" vision, allowing developers to precisely control on-chain data sharing. The eligibility snapshot has been completed and is now open for query. (The rest of the translation follows the same professional and accurate approach)According to The Block, Trump Media & Technology Group (stock code DJT) announced plans to repurchase $400 million worth of stocks. The company stated that this buyback will not affect its previously announced Bitcoin fund allocation plan, which is supported by $2.3 billion in private financing and has been approved by the U.S. Securities and Exchange Commission. Truth Social social platform and Truth.Fi financial technology business under Trump Media are funded by approximately 50 institutional investors. The company's latest statement claims to have around $3 billion in cash on its balance sheet and will maintain flexibility to explore more strategic opportunities.
Fiserv Announces Plans to Collaborate with Circle and PayPal to Launch Stablecoin
According to Reuters, financial technology company Fiserv (FI.N) announced on Monday plans to launch stablecoin FIUSD by the end of the year and integrate it into existing banking and payment infrastructure. FIUSD will reportedly operate on the stablecoin infrastructure provided by Paxos and Circle Internet (CRCL.N). Some brokerage firms note that Fiserv's timing for launching the stablecoin is quite appropriate as the expectation of the GENIUS Bill passing increases. Additionally, Fiserv stated it has reached a collaboration with PayPal (PYPL.O) to achieve interoperability between FIUSD and PayPal USD (PYUSD), enabling consumers and businesses to transfer funds more conveniently domestically and internationally.
[The rest of the text follows the same translation approach]According to Fortune, New York crypto startup Blueprint Finance announced the completion of a $9.5 million funding round, led by Polychain Capital, with participation from YZi Labs (formerly Binance Labs) and VanEck. Blueprint Finance was founded by Nic Roberts-Huntley and Dillon Liang in 2023, aiming to simplify the process for crypto holders to participate in DeFi lending. The company has currently launched two products, Concrete and Glow, covering Ethereum and Solana ecosystems, helping investors more conveniently borrow and manage digital assets. The new funds will be used for team expansion, technological R&D, and market promotion. According to Investing.com, the global largest Land Rover and Jaguar restoration company ECD Automotive Design (ECDA) announced that it has signed an equity financing agreement of up to $500 million with ECDA Bitcoin Treasury LLC. The company plans to use these funds to advance its Bitcoin reserve strategy and support business growth and general corporate purposes. ECD will also provide a $21,000 upgrade package for each of the first 21 customers who purchase a vehicle with Bitcoin within the next 12 months. Binance Wallet has officially launched the Pre-TGE subscription and Booster exclusive event for the Codatta project. Users can subscribe to Codatta's governance token XNY through Binance Wallet during the Pre-TGE phase, with a maximum subscription of 3 BNB per user. The tokens will be proportionally allocated with a lock-up period. Additionally, the 12-week Booster activity allows users who complete weekly tasks to share a total of 6% XNY airdrop, with participation conditions requiring holding 61 or more Alpha Points. (Translation continues in the same manner for the remaining paragraphs)According to Whale Alert, HTX exchange transferred 500 million USDT (approximately $500.5 million) to the Tether Treasury through the Ethereum chain, followed by the same amount of USDT (approximately $501 million) being transferred back to HTX from the Tether Treasury through the Tron chain, seemingly performing a cross-chain transfer operation.
According to the CoinShares report, digital asset investment products recorded a net inflow of $1.24 billion for the week ending June 22 Beijing time, marking the tenth consecutive week of net inflow. The year-to-date total inflow has reached a new high of $15.1 billion. Bitcoin and Ethereum attracted $1.1 billion and $124 million respectively. The United States was the primary source of funds ($1.25 billion), while Hong Kong, China, and Switzerland saw net outflows of $32.6 million and $7.7 million respectively. Ethereum has recorded fund inflows for nine consecutive weeks, totaling $2.2 billion, the longest streak since 2021. Solana and XRP also saw fund inflows of $2.78 million and $2.69 million respectively.
