Ethereum Foundation Transfers TKO Tokens to Bitcoin Suisse

The Ethereum Foundation has moved 3.484 million TKO tokens, worth around $9.16 million, to Bitcoin Suisse, a Switzerland-based crypto broker financial services firm. This move follows the successful launch of the Taiko mainnet, which was highly anticipated in the blockchain community.

Following this launch, the TKO tokens, originally on the Taiko blockchain, were cross-chained to the Ethereum network. According to Arkham Intelligence, the tokens were moved from the Ethereum Foundation’s wallet address, ox97…dE4B to the financial service provider’s hot wallet.

Taiko Launches on Ethereum Mainnet

In May, Taiko was officially launched on the Ethereum mainnet after a development period that began in 2022. As per the announcement, Ethereum co-founder Vitalik Buterin proposed the inaugural block on Taiko’s mainnet. This act marked the official launch of Taiko and signified the broader Ethereum community’s support and recognition of the protocol’s potential. 

Also, Taiko integrated a type 1 zero-knowledge (ZK) Ethereum virtual machine (EVM) to emulate Ethereum architecture and included a multi-proof proving system. Interestingly, the Taiko launch happened a few weeks after the mainnet went live. Before the launch date, the protocol introduced Trailblazers, a point incentive program, to reward its community for completing tasks and engaging with the network.

Buterin Reveals the Next Step for the Ethereum Foundation

In April, Buterin unveiled a new protocol meant to streamline its efficiency and overall performance, known as “The Purge.” According to Buterin, the Purge is a project aimed at slimming down Ethereum and addressing technical debt to improve its overall performance and usability.

The Purge initiative is part of a broader mission to declutter Ethereum’s infrastructure, alleviate technical burdens, and fortify security measures. Some critical modifications include Ethereum client code lines reduction, elimination of support for pre-merge Proof-of-Work (PoW) networks, and optimizations of Ethereum’s storage mechanism to reduce storage requirements for node operators.

However, this announcement came days after he revealed a system poised to spur the decentralization of Ethereum staking. 

Blast Network Launch Airdrop for Early Adopters

In June, Blast Network, an Ethereum layer-2 solution, announced an airdrop for its early adopters scheduled for June 26. This event saw the release of 17% of the total token supply. According to TheCoinRise, 7% of the tokens were allocated to users who bridged either Ether or US Dollar Blast (USDB) to the network, and another 7% went to those who contributed to the success of decentralized applications (DApps) on the Blast platform.

Meanwhile, the remaining 3% is earmarked for the Blur Foundation to facilitate future airdrops to its community.

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