Weekly Hot Project Updates: World Launches in the U.S., Aave Plans to Allocate 6 Million USD for Buyback, Binance's 17th HODLer Airdrops Project StakeStone, and More (04/27–05/03)

Coindesk investigated the market maker sell-off scandal involving Movement, pointing out that an arrangement originally intended to facilitate the smooth listing of the $MOVE crypto token ultimately evolved into a market-shaking sell-off scandal.

1. Movement: Co-founder Rushi Manche Temporarily Suspended
Coindesk investigated the Movement market maker sell-off scandal, indicating that the protocol allegedly handed control of 66 million $MOVE tokens to an intermediary entity with unclear identity, Rentech, without the project team's full knowledge. This raised suspicions of self-dealing, leading to a $38 million token sell-off on the day after listing, causing a sharp price drop and leading to a ban by Binance. Movement Labs has temporarily suspended Rushi Manche. The foundation’s treasury holds 8.15 billion $MOVE tokens, with funds secured under multi-signature supervision.

2. World Launches in the US, Plans to Release Visa Card and Tinder Pilot
World (formerly Worldcoin) has entered the US market, launching first in six major cities. Users who complete verification can claim WLD tokens. A Visa card linked to the World App will be introduced, and a partnership with Tinder’s parent company will pilot identity verification in Japan.

3. Base Reaches Phase 1 of Rollup Decentralization, Launches Fault Proofs and Security Committee
Base announced it has reached Phase 1 of the Ethereum Rollup decentralization model proposed by Vitalik Buterin, launching fault proofs and a security committee to reduce reliance on Coinbase.

4. Scroll Co-founder: Scroll Becomes the First zk-Rollup to Reach Stage 1 Status
Scroll achieved critical improvements through the Euclid update—including banning arbitrary upgrades, eliminating censorship risks, and ensuring network liveness—becoming the first zk-Rollup to reach Stage 1 status.

5. Aave Community Proposal to Allocate $6 Million for AAVE Buybacks
An Aave community proposal plans to allocate $6 million for public market buybacks of AAVE tokens over the next six weeks, as part of a fund restructuring and incentive program.

6. Sky Community New Proposal: Sky to Replace MKR as Sole Governance Token and Enable Staking
The Sky core governance team completed a proposal to upgrade from MKR to SKY, making SKY the sole governance token and enabling staking. MKR can be converted to SKY at a ratio of 1:24,000.

7. Ethena Announces Partnership with TON: USDe and sUSDe Introduced to TON Ecosystem
Ethena partnered with TON Foundation to introduce synthetic stablecoins USDe and sUSDe into the Telegram ecosystem, integrating them into the native Telegram wallet and compatible wallets.

8. PancakeSwap Announces Official Launch of PancakeSwap Infinity
PancakeSwap Infinity (v4) is launched, supporting BNB Chain, introducing multiple liquidity pools, customizable fee structures, and Hooks plugins, optimizing gas costs.

9. Binance Alpha 2.0 Hits a Record $206 Million Trading Volume on April 29
Binance Alpha 2.0 recorded a trading volume of $206 million on April 29, with 840 thousand transactions. The top three traded projects by volume were KMNO, POPCAT, and FARTCOIN.

10. Binance Announces Launch of 17th HODLer Airdrops Project StakeStone
Binance launched the 17th HODLer Airdrops project, StakeStone ($STO), opening multiple trading pairs on May 2. $STO has a total supply of 1 billion tokens, with 15 million tokens airdropped.