XION Launches $12.6M Anti-Grant Program to Support High-Caliber Web3 App Developers

Daily Top Performer — CoW DAO (COW)

The S&P 500 closed flat Friday as investors await the Fed's policy decision and PMI data, with tech stocks leading recent gains amid broader market stagnation. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 0.87%, with Bitcoin and Ether rising by 0.19% and 0.20%, respectively in the past 24 hours.

Today's top performer is CoW, which surged 52.8% following the launch of CoW Swap and CoW Protocol on Base, offering gasless trades and MEV protection.

CoW DAO (COW), founded in 2022, is a decentralized platform that enhances trading efficiency and security. Its main products are CoW Protocol, which finds the best trade deals using decentralized solvers; an MEV blocker to prevent exploits; and CoW AMM, a DEX that protects liquidity providers from arbitrage losses. The platform aims to safeguard DeFi traders from common security risks. CoW DAO has launched CoW Swap, CoW Protocol, and soon CoW AMM on the Base blockchain, offering gasless trades, MEV protection, and competitive pricing. CoW Swap aggregates liquidity from multiple sources for optimal execution and provides advanced order types. This deployment enhances security and efficiency for Base users, with future plans to introduce more products, including CoW AMM for LP protection and diversified pools.

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Talk of the Town

XION has launched its $12.6M Anti-Grant Grant Program in collaboration with Thrive Protocol to support high-caliber app developers. Unlike traditional Web3 grant programs, this initiative features a strict selection process, decentralized validation, and a unique "Wall of Shame" to prevent mercenary developers. The program offers repayable grants up to $25,000 for each project, with funds released upon meeting key milestones. It aims to back serious entrepreneurs creating impactful apps on XION’s walletless blockchain, which offers scalability and a seamless user experience. Accepted applicants receive ongoing support, including incubation, technical resources, and access to a large user base and strategic partners.

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Bitcoin Spot ETF Flows

From December 9–13, 2024, BTC Spot ETF flows totaled $2,167.1M, with GBTC recording outflows of -$221.3M and Non-GBTC inflows of $2,388.4M. The largest daily GBTC outflow was -$105.8M on December 13, while the highest Non-GBTC inflow was $645.9M on December 12. Cumulatively, GBTC has experienced -$21,045M in outflows, whereas Non-GBTC has seen $56,621M in inflows, resulting in a net total of $35,576M.

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Airdrop to Watch

Superform Labs, a non-custodial yield marketplace that raised $9.5M, offers an airdrop farming opportunity through its CRED points program. Users can earn both Superform and Base airdrops by depositing tokens into Base chain vaults, with no lockup required and higher rewards for longer holdings.