Token Events

On March 23, Backpack carried out a large-scale purge of violation points, reclaiming over 50 million points, which caused dissatisfaction among Chinese-speaking users. Core member Claire stated that the Chinese team and the European and American teams had different understandings of violations, leading to greater impact on Chinese users. In response to community backlash, Backpack's founder introduced an appeal channel and a token buyback plan, allowing eligible users to recover more than 50% of their points.

Golden Finance reported that the Resolv Foundation announced on the X platform that due to a recent security incident involving Resolv Labs' stablecoin USR, with both the protocol and applications now suspended, the Season 4 airdrop claiming function is temporarily unavailable. Additionally, the staking and unstaking functions for RESOLV tokens are also temporarily unavailable. Once the protocol recovery plan is finalized and the application can be safely used again, these functions will be restored.

Backpack Exchange launched its cryptocurrency token, BP, on Monday, distributing 25% of its total supply through airdrops, primarily benefiting active users. The token's structure emphasizes user allocation over insiders, with future unlocks tied to company growth and potential IPO plans.

_Balancer co-founder Fernando Martinelli announces BLabs shutdown after a damaging exploit, outlining a leaner path forward for the protocol._ Balancer Labs is shutting down. Co-founder Fernando Martinelli made the announcement in a detailed post addressed to the Balancer community.  He cited

Blockchaintimes reports that the Backpack team, in response to Sybil detection issues, has decided to open an appeal channel and establish new criteria to compensate affected users through targeted compensation via token buybacks.

The BackPack Wallet, a self-custodial crypto wallet, today announced a strategic partnership with Orca, a user-friendly DEX platform built on Solana. With this collaboration, the BackPack Wallet leverages Orca’s DEX (decentralized exchange) infrastructure to provide a powerful combination of

The essay discusses the need for "Verifiable Privacy" in professional trading, highlighting Umbra's unique technical approach and performance-based tokenomics. It notes the privacy sector’s strong growth and upcoming catalysts for Umbra’s expansion.

A CEX official announced that regarding the sybil identification issue, the team has communicated with the responsible party and is preparing to open an appeal channel. Through the new "Rule 3," eligible users can receive a refund of 50% or more points, and a compensation plan will be launched in the coming days.

Balancer proposed two governance proposals to eliminate the token issuance mechanism and reshape the economic model, increasing liquidity provider fees to 75% and repurchasing and burning BAL tokens worth $3.6 million. The move aims to reduce reliance on token incentives and shift toward real yield. It also launched a $500,000 compensation plan to balance interests, while consolidating resources to focus on core products, demonstrating a transition from a high-inflation model to a DeFi structure centered on cash flow.

Gate News reports that on March 24, YZi Labs transferred 8.75 million RDNT (valued at $470,000) to a certain CEX. These RDNT tokens were acquired through vesting unlocks over the past two years, which were worth approximately $3.86 million at the time of unlock, and are now worth only $470,000.

On March 24, Figure changed its tokenized stock ticker from FGRD to FGRS, in line with SEC registration and Provenance Blockchain listing information, without affecting security or trading mechanisms. The stock tokens will be issued and traded on Figure's OPEN platform and will support DeFi market lending.

Balancer Labs, the team behind the decentralized finance protocol Balancer, is shutting down after mounting financial pressure and a $116 million hack in November, with executives proposing continuation of the protocol under a leaner, more cost-effective structure. “After careful consideration, I h

Pi Network has recently faced price declines, but technical indicators such as RSI approaching oversold levels and community sentiment remaining positive. Despite bullish signals, increased exchange reserves and upcoming token unlocks present bearish risks, with potential selling pressure likely to suppress prices. Market conditions require close monitoring.

On March 24, the Perle Foundation announced that the PRL token qualification registration window has closed and entered the claim phase. The total supply of PRL tokens is 10 billion, distributed among the community, ecosystem, investors, and team. Additionally, the official has opened airdrop registration, requiring users to connect their wallet and associate their social accounts.

Biotech company NovaBay announced a strategic transformation, rebranding itself as Stablecoin Development Corporation to venture into the digital asset field, with its stock price increasing by about 19%. The company changed its stock ticker from NBY to SDEV and holds approximately 2.06 billion SKY tokens. This transition was facilitated by $134 million in private equity financing.

Gate News reported that on March 23, MagicEden posted on the X platform stating that it will increase the core revenue allocation for ME token buybacks and staker dividends from the previous 15% to 30% in the third quarter.

NovaBay Pharmaceuticals announced on March 23 a rebranding to Stablecoin Development Corporation, with its ticker symbol changed to SDEV, redirecting its business focus toward cryptocurrency and stablecoin development. The company completed a private financing round of 134 million dollars, acquiring substantial SKY tokens and cash, with additional purchases made through secondary markets. As of March 16, the company held approximately 2.06 billion SKY tokens, valued at approximately 147 million dollars.

Strategy filed an 8-K with the SEC on March 23, announcing the addition of three new underwriting dealers and the launch of a new ATM offering program involving common stock and preferred stock. The company also adjusted the authorized shares for STRC and STRK, and terminated the original STRK preferred stock offering program.

Aster DEX has launched its Stage 6 strategic buyback program to help stabilize the $ASTER token amid ongoing market ups and downs. The program executes token repurchases from a dedicated strategic wallet Moreover, all transactions are fully on-chain and publicly visible, demonstrating Aster’s

Bernstein analysts point out that Circle's USDC partnership with a certain CEX is a direct play for investing in the stablecoin market. AI agent machine payments could bring incremental demand, but the scale remains small for now. USDC's supply and trading volume have reached all-time highs, with leading market share.