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A new addition to the cryptocurrency landscape, Social Network, has announced the launch of its testnet. The team describes it as “the first decentralized Bitcoin layer 2 staking protocol with native yield .” The protocol is designed to tackle issues of scalability, cost, and environmental impact associated with the Bitcoin network. Particularly, it focuses on facilitating decentralized social networks built atop Bitcoin (BTC), as communicated to Finbold. Interestingly, the company has introduced a promotion for early contributors to its testnet. Named ‘Taproot Farmers,’ this incentive offers top participants free minting of Bitcoin Ordinals. Moreover, the Social Network’s platform aims to address the congestion and high fee issues plaguing the Bitcoin network due to the increased demand for storing additional data. It connects with the Nostr decentralized social networking protocol, claiming to offer a scalable solution for storing large volumes of linked data in...

Terra Luna Classic (LUNC) developers have submitted a joint governance proposal to the community and validators that will introduce liquid staking derivatives with the Quicksilver network. The proposal incorporates multiple interchain account (ICA) host message types for integrating QuickSilver. It has garnered positive feedback from the LUNC community, paving the way for potential advancements in the token’s ecosystem. Titled “Allow Various ICA Host Message Types (For QuickSilver),” the proposal was presented to Commonwealth by developer Parker Lowe, who also took to Twitter to generate awareness and gather community attention. https://t.co/z3TvAoGm5s Be ready to vote in a week for a governance proposal! — Parker Lowe (@ParkerLowe47985) June 24, 2023 The document bears the signatures of influential figures in the LUNC community, including Fragwuerdig, Parker Lowe, Rexxaurus, Ohhbilbobaggins, and LuncBurnArmy. It has so far received overwhelmingly positive feedback, wit...