logo
Ethereum's Zora Platform Announces ZORA Token Release on April 23

Ethereum's Zora Platform Announces ZORA Token Release on April 23

Yahoo21-04-2025

Zora, an Ethereum-based platform recognized for its focus on non-fungible tokens (NFTs) and creator-centric content, has announced the launch of its native token, ZORA, set for April 23, 2025.
The announcement was made on April 21 through a post on X, detailing the token's distribution plan, which will utilize two snapshots of user activity.
The first snapshot will account for contributions made from Jan. 1, 2020, to March 3, 2025, while the second will include data up to April 20, 2025. This approach aims to identify eligible participants for a retroactive airdrop and reward long-time users, including creators, collectors, and developers within the Zora ecosystem.
ZORA will be launched on Base, the layer-2 network operated by Coinbase, rather than on Zora's own layer-2 solution. This decision is seen as a strategic move to enhance accessibility for new users, as Base has emerged as a prominent platform for on-chain social applications and meme coins.
The total supply of the ZORA token will be capped at 10 billion tokens. Of this, 10% is allocated for the airdrop, while another 20% is earmarked for future community incentives, such as grants and hackathons. Additionally, 5% of the supply will be used to provide liquidity.
The Zora treasury will receive 20% of the total supply, which will be gradually unlocked over four years following a six-month delay.
Team members are set to receive 18.9% of the tokens, with monthly vesting over three years, also subject to a six-month delay. The remaining 26.1% will be distributed to strategic contributors, including early investors and advisors.
Importantly, the ZORA token will not carry governance rights or equity claims, marking a significant step in Zora's evolution from an NFT platform to a comprehensive on-chain social network.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

macOS 26 compatibility list: check if your Mac will get the update
macOS 26 compatibility list: check if your Mac will get the update

Business Upturn

time14 minutes ago

  • Business Upturn

macOS 26 compatibility list: check if your Mac will get the update

By Aditya Bhagchandani Published on June 9, 2025, 12:40 IST As Apple gears up to unveil macOS 26 — reportedly named macOS Tahoe — at WWDC 2025, Mac users are eager to know whether their devices will receive the update. While the company continues its shift to Apple Silicon, several older Intel-based Macs are expected to be left out of this year's software rollout. Macs expected to support macOS 26 According to insider reports, macOS 26 will be compatible with the following Mac models: MacBook Pro (2019 and newer) MacBook Air (M1 and later) iMac (2020 and newer) Mac mini (M1 and later) Mac Studio (all models) Mac Pro (2019 and newer) Older Intel-based Macs may lose support Apple appears to be phasing out macOS support for several older Intel Macs as it focuses more on optimizing the OS for its M-series chips. This means devices released before 2019 — particularly Intel-based MacBook Airs, iMacs, and MacBook Pros — may no longer be eligible for macOS 26. This update is expected to introduce a major redesign under the 'Solarium' interface language, with changes like translucent visuals, modernized icons, and improved multitasking tools. Apple may also roll out enhancements such as better Wi-Fi sharing, improved battery health tracking, and cross-device gaming features. If your Mac is more than a few years old, WWDC 2025 may be a sign that it's time for an upgrade. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.

JSW Steel's crude steel production rises 8% YoY to 22.73 lakh tonnes in May 2025
JSW Steel's crude steel production rises 8% YoY to 22.73 lakh tonnes in May 2025

Business Upturn

time2 hours ago

  • Business Upturn

JSW Steel's crude steel production rises 8% YoY to 22.73 lakh tonnes in May 2025

By Aman Shukla Published on June 9, 2025, 10:45 IST JSW Steel reported its consolidated crude steel production for May 2025 at 22.73 lakh tonnes, reflecting an 8% year-on-year increase compared to 20.98 lakh tonnes in May 2024. The company's cumulative crude steel production for FY26 up to May stood at 47.56 lakh tonnes, marking a 13% rise from 42.18 lakh tonnes recorded in the corresponding period of the previous financial year. Within the overall figures, Indian operations contributed 21.94 lakh tonnes in May 2025, up from 20.13 lakh tonnes a year ago, representing a 9% growth. Cumulative production from Indian operations reached 45.93 lakh tonnes in the current fiscal, compared to 40.68 lakh tonnes last year, also indicating a 13% increase. JSW Steel's US-based Ohio facility produced 0.79 lakh tonnes during the month, slightly lower than the 0.85 lakh tonnes produced in May 2024. Year-to-date output from this unit reached 1.63 lakh tonnes, up from 1.50 lakh tonnes over the same period last year. The company reported 80% capacity utilisation for its Indian operations in May 2025, affected by a planned maintenance shutdown at the Dolvi plant's blast furnace. Operations resumed at the furnace on May 30, 2025. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at

BCI Invests in KKR Tower Platform Pinnacle Towers
BCI Invests in KKR Tower Platform Pinnacle Towers

Business Wire

time6 hours ago

  • Business Wire

BCI Invests in KKR Tower Platform Pinnacle Towers

SINGAPORE & VICTORIA, Canada--(BUSINESS WIRE)--KKR, a leading global investment firm, British Columbia Investment Management Corporation ('BCI'), and Pinnacle Towers, an Asia-based digital infrastructure platform with a focus on the Philippines, today announced the signing of definitive agreements under which BCI will acquire a minority stake in Pinnacle Towers from KKR, which will remain the majority shareholder. Pinnacle Towers was established in 2020 to serve the rapidly increasing demand for connectivity and quality telecommunications infrastructure in the Philippines. Led by a highly experienced management team, the platform specializes in executing on Build-to-Suit ('BTS') telecommunications tower projects, optimizing the use and management of Sale-and-Leaseback ('SLB') assets with leading mobile network operators, and providing ancillary management services to industry players. In the span of five years, Pinnacle Towers has scaled to become the largest independent tower company in the Philippines with around 7,000 towers. 1 Lincoln Webb, Executive Vice President & Global Head, Infrastructure & Renewable Resources, BCI, said, 'We are excited to work closely with KKR and Pinnacle's management team to support the growth of the business. The Philippines represents a compelling market for long-term capital, especially in essential digital infrastructure services. This investment aligns with our emerging markets strategy of backing high-quality infrastructure assets alongside strong institutional partners. We look forward to supporting Pinnacle Towers as it continues to enhance digital connectivity and drive meaningful impact across the Philippines.' Projesh Banerjea, Managing Director, Infrastructure, KKR, said, 'We are very proud of the success that we have achieved with Pinnacle Towers to serve the Philippines' connectivity needs. Since our initial investment, we have collaborated closely with Pinnacle Towers' outstanding management team to deepen the platform's capabilities and scale its presence organically and through bolt-on acquisitions. We are delighted to welcome BCI, who share our long-term vision and commitment to developing critical digital infrastructure, as strategic partners and look forward to building on Pinnacle Towers' strong growth momentum.' Patrick Tangney, Chairman and CEO of Pinnacle Towers, said, 'Over the last five years, with the support of KKR, Pinnacle Towers has grown to become the leading independent tower company in the Philippines. BCI's investment marks an important milestone in our journey and is a strong endorsement of our mission. With BCI and KKR as strategic partners, we are well-positioned to continue driving greater digital connectivity in the Philippines and across the region.' BCI Infrastructure & Renewable Resources has a global portfolio with nine active investments in the Asia-Pacific region, including Rakuten Mobile (a leading communications tower company in Japan), Altius (a leading communications tower company in India), and Cube Highways (the largest toll road operator in India). The program continues to expand its presence in the region with the addition of this minority stake acquisition in Pinnacle Towers. KKR made its investment in Pinnacle Towers from its Asia Infrastructure Funds I and II. KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. KKR's Asia Pacific infrastructure platform was established in 2019 and has since organically grown to approximately US$13 billion in assets under management. The transaction is expected to be completed by Q3 2025, subject to customary regulatory approvals. About BCI British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada, with C$250.4 billion in gross assets under management as of March 31, 2024. Based in Victoria, British Columbia, with offices in Vancouver, New York, and London, U.K., BCI manages a portfolio of diversified public and private market investments on behalf of its British Columbia pension fund and institutional clients. Learn more at About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at Pinnacle invests in, builds and operates telecommunications infrastructure with a focus on towers and related assets. Pinnacle is an Asia-focused digital infrastructure platform with a strong focus on the rapidly growing Philippines market. Frontier's leadership team includes founders of a number of highly successful tower companies and former C-level executives from some of the world's leading wireless operators. KKR first invested in Pinnacle Towers in 2020.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store