Crypto Twitter This Week: Turbulent Token Launches for WEN and JUP and Vitalik’s Retreat

Crypto Twitter was in classic form this week. After a cycle of petty controversies, dramatic twists, and flashy token launches, Ethereum co-founder Vitalik Buterin announced that he no longer wanted to be the face of the industry.

It all started with the enthusiastic launch of WEN, the Solana meme coin, launched last weekend via decentralized exchange (DEX) aggregator Jupiter. On the first day, the token price fluctuated significantly.

By that time unstable airdrop It ended on Monday, and token creators ended up having to: Burning of billions of WEN tokens This amount, unclaimed by eligible holders, constitutes almost 39% of the airdrop, worth over $35 million.

That story is just the prelude to this week’s main event: Jupiter’s much-anticipated airdrop. For months, Solana DeFi users have eagerly awaited the launch of the JUP coin. almost a million Solana wallet with billions of free tokens.

But on Wednesday, JUP finally ReleasedThe loudest voices on Twitter were slamming the token allocation structure, which established a 250 million JUP launch liquidity pool created by the Jupiter team using tokens taken from half of the team’s total 10 billion JUP supply.

Some Crypto Twitter users claimed that due to this structure, the JUP airdrop was actually an implicit initial coin offering (ICO) designed primarily to enrich the Jupiter team.

It didn’t take long for Meow, Jupiter’s anonymous founder, to respond enthusiastically. push out Meow is a structure designed to benefit the JUP community, countering the snowballing negative narrative by emphasizing that JUP holders can sell into the token’s liquidity pool for seven days after launch.

Adding to the uproar, social media influencer, self-described misogynist and accused human trafficker Andrew Tate, months after mocking and rejecting cryptocurrencies, announced that he would create his own if he received 50,000 retweets. We decided that the time was ripe to announce that we would launch a meme coin. last year.

Cryptocurrency Digens immediately jumped on the perceived hypocrisy, lash out at Tate And it prompted the controversial internet personality to delete the tweet within hours and post a new video attacking cryptocurrencies as “complete trash” and claiming he would never “sell my soul to the god of geeks.” I did.

It was probably the right week for cryptocurrency’s most famous icon, Vitalik Buterin, to make a lengthy announcement. blog post He has moved on to a new phase in his life and no longer wants to be seen as the busy face of the industry.

“The end of my childhood,” the Ethereum co-founder tweeted.

Edited by Ryan Ozawa.