Weekly Hot Project Updates: MetaMask is still considering launching a native Token, Pump Fun has launched a creator revenue sharing program, and the savings protocol Sky recorded a loss in the first quarter, etc. (0511–0517)

1. Movement Labs had secretly promised to provide two consultants with up to 10% of the Token share link

Two business memos obtained by CoinDesk reveal that Movement Labs is accused of secretly allocating up to 10% of its MOVE Token supply to consultants through undisclosed agreements. The leaked documents show that consultants Sam Thapaliya and Vinit Parekh received token allocations of 5% and 2.5%, respectively, worth over $50 million. Thapaliya is referred to internally as the “shadow co-founder” and is now threatening legal action to claim tokens. Movement Labs claims the agreement is non-binding, but this incident has intensified the impact of its market manipulation scandal, with co-founders Rushi Manche and Cooper Scanlon publicly splitting.

2. The Farcaster front-end application Warpcast will officially be renamed Farcaster link.

Farcaster co-founder Varun Srinivasan revealed that the Farcaster frontend application Warpcast will officially be renamed Farcaster. This rebranding includes renaming the mobile app to Farcaster, restoring the arch logo, and migrating the official website from warpcast.com to farcaster.xyz. It is worth noting that all existing links will remain backward compatible, and users will not need to take any action. The update is expected to be completed within this week or next, depending on the review progress of the app stores.

3. MetaMask Co-founder: The team is still considering launching a native Token for the wallet link.

MetaMask co-founder Dan Finlay stated in an interview that the team is still considering launching a native Token, and the parent company Consensys has long-term plans to promote the “gradual decentralization” of products, including MetaMask, through Token issuance. He added that if a decision is made to issue, relevant information will be published directly in the wallet and provided with a link.

4. Pump Fun announces the launch of the creator revenue sharing program link

Pump Fun announces the launch of a creator revenue sharing program, where 50% of the platform’s revenue will be shared with Token creators. Whenever someone trades a Token issued by a creator, the creator can earn a reward of 0.05% (5 basis points) in SOL. Eligible Tokens include newly created Tokens, Tokens still trading on the Pump Fun bonding curve, and Tokens that have graduated to PumpSwap.

5. Lido DAO initiates an emergency vote to replace the Chorus One oracle with the leaked private key link.

Lido Finance announced that due to a suspected leak of the private keys of the Chorus One node, Lido DAO will initiate an emergency vote to replace its corresponding oracle node. The project emphasized that the protocol is still operating securely, and stakers are unaffected. Its oracle system uses a 9 out of 5 multi-signature mechanism, and the remaining 8 nodes have been checked with no signs of abnormalities.

6. 0x acquires Flood, strengthening the competitive edge of the DEX aggregation market link

0x announced the acquisition of its competitor Flood to enhance its competitiveness in the DEX aggregation market. This acquisition marks 0x’s first since its establishment in 2017, and 0x plans to integrate the technologies of both parties to offer more competitive trading prices and compete for market share on the Ethereum and Solana blockchains. Flood had completed a $5.2 million seed round of financing in February 2024.

7. The DeFi savings protocol Sky recorded a loss of 5 million dollars in the first quarter of 2025 link

DeFi savings protocol Sky recorded a $5 million loss in the first quarter of 2025, a significant decline from the previous quarter’s profit of $31 million. The loss was mainly due to a 102% increase in interest expenses on its newly launched stablecoin, USDS, to entice investors to switch from DAI to USDS. USDS rates fell to 4.5% in February from 12.5% at the start of the year, but pressure on interest rate payouts remains. The total supply of USDS and DAI increased by 57% in the first quarter, with more than $450 million in funding coming from the Ethena protocol, which used the funds to stake USDS and distribute the proceeds to its stablecoin USDe holders.

8. Radiant DAO community releases a proposal for “Compensation for Unlimited Authorization Vulnerability Loss” link

The Radiant DAO community has released a proposal for “Compensation for Unlimited Authorization Vulnerability Losses.” The proposal includes compensation for user losses due to the vulnerability on October 16, 2024 (involving Arbitrum and BNB Chain), with losses of $7.7 million in 2024 and $1.2 million in the first quarter of 2025. Compensation will be issued in stablecoins, with a 30% discount on 2024 losses and a 60% discount on 2025 losses, with priority lower than that of depositors’ compensation (RFP-47). The community needs to vote to decide the source of funds, with options including shared responsibility between the DAO and partners or no compensation.

9. CoinMarketCap announced the launch of the project launch platform CMC Launch, with the first project being Aster link.

The cryptocurrency data platform CoinMarketCap (CMC) has announced the launch of the Pre-TGE project launch platform CMC Launch, with the first project being the decentralized perpetual exchange Aster. CMC Launch adopts a stricter review mechanism and targets over 70 million monthly active users. Aster has received investment from YZI Labs and currently supports BNB Chain and Arbitrum.

10. The Singapore court approved the liquidation application of the Multichain Foundation proposed by Sonic Labs link

The High Court of Singapore has approved Sonic Labs’ liquidation application against the Multichain Foundation, appointing KPMG as the liquidator. The ruling stems from the 2023 hacking of Multichain, which resulted in over $210 million in asset losses. Sonic Labs stated that they were forced to resort to legal action due to the refusal of a former employee to cooperate with the investigation. The liquidator will initiate asset recovery, and the recovered funds will be returned to the affected users. Multichain has ceased operations in 2024, and the CEO was previously detained by the police.