Overview

This report highlights the blockchain industry trends from December 23 to December 27. Wormhole DAO is set to launch, driving W governance and staking rewards. The dYdX community has voted to approve a $4 million DEP funding plan. Gate Group has acquired Coin Master, officially entering the Japanese market. The BIO Protocol community has proposed the “Bridge $BIO to Solana” initiative. US-Listed company KULR has introduced a Bitcoin treasury and purchased approximately 217 bitcoins.

Projects

Wormhole DAO Set to Go Live, Driving W Governance and Staking Rewards

Wormhole has announced its plan to launch its Decentralized Autonomous Organization (DAO) in Q1 2025. The DAO will grant governance rights to W token holders, aiming to strengthen community participation, incentivize long-term holding, and expand its user base through rewards programs.

Wormhole, a decentralized universal messaging protocol, enables developers and users to build and operate cross-chain applications across multiple blockchain ecosystems. The upcoming DAO and staking program will strengthen its decentralized governance, providing more resources and community-driven growth for the ecosystem. These initiatives will boost Wormhole’s ecosystem value while attracting developers and users interested in its technological innovations and growth potential. This comprehensive strategy helps Wormhole solidify its leadership in cross-chain technology while driving the evolution of Web3 applications. [1]

dYdX Community Approves $4M DEP Funding Plan

The dYdX community recently completed a crucial vote, supporting the allocation of $4 million from the fiscal subDAO assets to fund the DEP (dYdX Ecosystem Program) for the next 14 months. The vote attracted participation from 43 out of 60 active validator nodes and 813 accounts, achieving a 57.38% participation rate. The final results showed 75.02% in favor of the proposal, with only 0.11% against and 24.87% abstaining.

This decision demonstrates dYdX’s strong commitment to ecosystem growth. The DEP will help expand its decentralized derivatives trading platform by providing vital resources and support to developers and community members. The strong voter turnout and overwhelming approval show dYdX’s maturing governance system and highlight how DAOs effectively manage resources and strategic decisions. This funding plan will boost dYdX’s competitive edge and reinforce its position as a leader in decentralized derivatives trading. [2]

Gate Group Enters Japanese Market Through Coin Master Acquisition

Gate Group has acquired Japanese cryptocurrency service provider Coin Master Co., Ltd. through its Singapore subsidiary, Gate Information Pte. Ltd., rebranding it as Gate Japan K.K. This strategic move marks Gate Group’s official entry into the Japanese market and expands its global digital asset presence. While Gate.io had previously announced plans to stop accepting new Japanese users and phase out global services, this acquisition enables Gate Group to offer a compliant, localized digital asset trading platform for Japanese users.

As Japan’s digital asset market grows in importance and develops a stronger regulatory environment, new opportunities are emerging. Gate Group’s acquisition of Coin Master Co., Ltd. strengthens its compliant operations in Japan while leveraging global technology and resources to deliver innovative services. Through this strategic move, Gate Japan aims to introduce more localized products, improve user experience, and contribute to the sustainable growth of Japan’s digital asset industry. [3]

BIO Protocol Community Proposes “Bridge $BIO to Solana” Initiative

The BIO Protocol community has proposed “Bridge $BIO to Solana” by deploying BIO tokens on the Solana blockchain. This expansion would allow the protocol to establish a liquidity pool, making BIO tokens and other ecosystem tokens more accessible, while preparing for BIO Protocol’s future deployment on Solana.

If approved, the BIO community will authorize the BIO Association to take the following actions: First, establish cross-chain bridge infrastructure to enable seamless token transfers to and from the Solana blockchain. Second, bridge BIO tokens by deploying the BIO token program on Solana. Third, grant the BIO Association authority to allocate an additional 1% from ecosystem incentives to the market liquidity fund for deploying liquidity pools on Solana and potentially other chains. This proposal demonstrates Solana’s influence as a high-performance public chain in the crypto industry. Additionally, by leveraging Solana’s fast transaction speeds and low fees, BIO will attract more users, thereby increasing its trading volume and liquidity. [4]

US-Listed Company KULR Launches Bitcoin Treasury, Acquires Approximately 217 Bitcoin

US-listed company KULR has launched a bitcoin treasury with a $21 million investment to acquire approximately 217 bitcoin. Earlier this month, KULR’s board approved bitcoin as a key asset in its financial plan. The company operates as an energy management platform, providing advanced energy storage solutions for space, aerospace, and defense sectors. Following KULR’s move, other US-listed companies, including Genius Group, Cosmos Health, and Semler Scientific, have announced similar bitcoin reserve plans. This trend of public companies adding bitcoin to their asset allocation has been partly driven by MicroStrategy’s success and increased market value after implementing its bitcoin strategy.[5]

Notice
Users should exercise caution when participating, be mindful of risks, and conduct thorough research before involvement. Gate.io does not guarantee the future development of projects.


References:

1. X，https://x.com/wormhole/status/1870548700784935212?s=46&t=bcMyidYO0QkS5ajIW9CBdg
2. X，https://x.com/dydxfoundation/status/1871141099097686058
3. Gate.io，https://www.gate.io/zh
4. BioProtocol，https://common.xyz/bio-protocol/discussion/26059-proposal-bridge-bio-to-solana
5. globenewswire，https://www.globenewswire.com/news-release/2024/12/26/3001950/0/en/KULR-Launches-Bitcoin-Treasury-with-Purchase-of-217-18-Bitcoin-for-21-Million.html

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Disclaimer
Investing in the cryptocurrency market involves high risk, and it is recommended that users conduct independent research and fully understand the nature of the assets and products they purchase before making any investment decisions. Gate.io is not responsible for any losses or damages caused by such investment decisions.