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? The Dinarian on Locals brings you the latest in news, interviews, in-depth conversations, and stories from across the blockchain and global communities—within and beyond cryptocurrency ?. Experts delve into how blockchain technology is reshaping industries, enhancing business networks ?, transforming transaction workflows, and advancing distributed ledger systems ??. We also explore intriguing topics that may venture into the realm of conspiracies—and so much more!
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👇🏻 THETA PATENT PUBLISHED 1/4 👇🏻

#20240005350
👉- Edge Computing Platform Supported by Smart Contract Enabled Blockchain Network with Off-Chain Solution Verification

Credit to @StevensJoe11

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📚 Ripple's University Blockchain Research Initiative (UBRI) 📚

Championing blockchain research and development in academia is at the heart of Ripple's University Blockchain Research Initiative (UBRI).

With a mission to inspire and educate the next generation of blockchain builders, UBRI has supported:

⭐️ 1200+ research projects
📚 850+ courses
📍900 on-campus events
🔗 90 projects on the XRP Ledger
✅ 60 students hired

UBRI is empowering students and faculty to shape the future of blockchain technology. And we’re just getting started: https://ripple.com/impact/ubri/

00:02:59
🇷🇺 Russian President Putin says, "Who can ban Bitcoin?.. Nobody"

Liquidity Liquidity Liquidity or should I say, lack of.

00:00:26
Xrp ETF's &ETPs

🚨There are a lot more XRP ETF’s and ETP’s than you may be aware of‼️🫡

@OpenFIGI house global instrument identifiers.

openfigi.com/search#!?simpleSearchString=Xrp&page=2&pageSize=100

00:01:22
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading
⚠️ An Issue Using Ledger Hardware Devices ⚠️

🔹For those that aren't aware, an issue arose using Ledger hardware devices with the Theta web wallet recently.

🔹This might affect a subset of Ledger users who have updated their Ledger Ethereum app to version 1.13

🔹Our devs are continuing the effort of working though this towards a resolution, just know that your assets are safe.

👉If you haven't updated to the current Ethereum Ledger app, hold off on doing so.

👉If needed for an emergency or other, funds can still be accessed via the Theta web wallet using the Ledger private recovery phrase key.

👉We'll announce when a resolution has been reached.

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💥Grayscale XRP Trust is open💥

Grayscale XRP Trust is open to eligible accredited investors seeking exposure to $XRP, which powers the XRP ledger, a distributed network used for cross-border payments.

Learn more about Grayscale XRP Trust, see important disclosures, or reach out to us: https://www.grayscale.com/crypto-products/grayscale-xrp-trust

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💥The Current & Growing Sonic Launch Ecosystem Map 💥

1 $FTM will be swappable for 1$S in LESS THAN 30 Days

👉 Ask yourselves this, if you could go back in time and pick up Solana at $1.26 a coin, what would you do? 😉

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Sonic Points and Gems Explained — 200 Million S Airdrop

Sonic Points are user-focused airdrop points that can be earned as part of the ~200 million $S airdrop. Designed to reward meaningful user engagement within the Sonic ecosystem, these points incentivize a wide range of activities, such as early adoption, long-term loyalty, asset ownership, and active participation with apps across the platform.

On the other hand, Sonic Gems are developer-focused airdrop points. As a groundbreaking incentive mechanism for developers within the Sonic ecosystem, Gems reward apps for driving user engagement and innovation based on their performance on Sonic.

These Gems can be redeemed for $S tokens, which apps can then distribute as rewards to their users. This system empowers apps to kickstart growth and maintain long-term user activity by encouraging consistent interaction and participation.

Both Sonic Points and Gems are distributed across multiple seasons, ensuring a sustainable and dynamic rewards structure that continuously incentivizes active involvement. The first season ends in ~June 2025.

Sonic Points Explained

To earn Sonic Points, users must bridge or use whitelisted assets within the Sonic ecosystem through any approved app. The current whitelisted assets for Season 1 are listed here, with more assets potentially added throughout the season.

There are two types of points within the Sonic Points program:

  1. Passive Liquidity Points
    Passive liquidity points reward users for bridging primary assets onto the Sonic mainnet. Users earn points based on the value and type of assets they hold, providing an incentive for maintaining liquidity within the ecosystem.
  2. Activity Points
    Activity points offer a multiplier on top of passive liquidity points, encouraging users to actively engage with the ecosystem. By deploying their assets into any whitelisted application, users can enhance their point earnings, driving greater participation and utility within the network.

On the designated user airdrop claim date (~June 2025), users can immediately claim 25% of their Season 1 airdrop as liquid $S tokens, while the remaining 75% will be vested over 270 days in the form of an NFT. Users can choose to claim their vested position early by burning some of their allocation.

Alternatively, users who choose to hold their airdrop NFT positions can trade them on a speculative NFT marketplace if desired, adding an additional layer of utility and flexibility.

Sonic Gems Explained

Sonic Gems are off-chain airdrop points exclusively designed for apps. Each season, a fixed number of Gems is distributed to apps based on various performance factors. Apps can monitor their progress through a leaderboard, which is updated every 24 hours with the latest Gem allocations.

The competitive PvP nature and fixed supply of Gems mean that an app's Gem balance may fluctuate daily, influenced by the performance of other apps on the platform. 

Apps that wish to distribute the $S tokens earned through Gems to their users must manage the accounting process independently. They have full flexibility in determining how to do so. For example, an app could:

  • Mint a new token representing its share of $S redeemed through Gems for a specific season.
  • Maintain an internal record of user balances.

Unlike Sonic Points, which are airdrop points designed for users, Gems empower apps to claim liquid $S tokens instead of vested NFT airdrop position. Once the $S tokens are claimed, it’s the app’s responsibility to determine how they’re distributed to their users.

While there’s no strict requirement for apps to share a specific percentage of their claimed $S tokens with their users, the design of Gems incentivizes generosity. Apps that share a larger portion of their claimed $S with their communities are rewarded more favorably compared to those that don’t.

Gems Season 1

A total of 1,680,000 Gems will be distributed during Season 1. Out of this, 262,500 Gems are pre-allocated to Sonic Boom winners. The chart below shows the number of Gems allocated to each tier in Sonic Boom.

The remaining 1,417,500 Gems will be available for any app to earn throughout the season — whether they’re Sonic Boom winners or not. At the end of Season 1, all eligible apps will be able to claim $S tokens based on the number of Gems they have earned.

Distribution of Gems

Sonic Gems are distributed using a structured approach designed to reward apps within the Sonic ecosystem. By considering factors such as category relevance, exclusivity, and effective reward distribution, this system promotes fairness and incentivizes active participation. 

Below are the key criteria that will determine an app's share of Gems in Season 1:

1. Category

Apps are assessed across several weighted categories, with each app assigned a weight based on its primary category. For Season 1, the specific weights are detailed below. If an app falls into multiple categories, the weight of its dominant category will be applied.

2. Sonic Native

Apps are assigned different weights depending on their level of exclusivity to Sonic:

  • Weight 2: Exclusively available on Sonic
  • Weight 1: Primarily on Sonic but accessible elsewhere
  • Weight 0.5: Available across multiple chains

Note: An app's Sonic-native weight cannot be upgraded during a season. However, if an app takes actions that reduce its Sonic nativeness, its weight will be reduced immediately and remain in effect for the following season as well.

3. Point Score

Point score is determined by calculating the total amount of Sonic Points that an app has generated for its users. This score is then divided by the total points generated across all eligible apps.

To generate Sonic Points for their users, apps must meet the following requirements:

  • Integrate with the OpenBlock Labs API.
  • Provide utility to whitelisted assets within the app.

4. Incentive (Applicable After Season 1)

This assesses how effectively an app distributes its claimed $S to its users. An app's incentive weight is determined by the percentage of its claimed $S that was distributed to its users during the previous season.

For example, if an app distributed 100% of its claimed $S to its users, it’ll receive a weight of 1 in the next season, while distributing only 80% would give it a weight of 0.8.

Note: While there’s no requirement for apps to distribute a specific amount of their claimed $S to users, it’s mandatory for all apps to publicly disclose the percentage they intend to share with their communities. This transparency allows users to make informed decisions about allocating their capital. Any instances of false communication or misuse of claimed $S will result in blacklisting for subsequent seasons.

Final Gems Calculation

Apps will receive a pro-rata share of Sonic Gems based on their final weights, determined by the calculations below.

Gems Revocation Policy

The following actions by the app can cause their Sonic Gems to be revoked.

  1. Incentivizing Project Tokens or NFTs with Gems
    Allocating Gems as rewards for activities like holding, staking, or providing liquidity (LPing) for a project’s token or NFT. For apps that have a voting mechanism to direct emissions, Gems can be used as vote incentives for any pool other than those that contain the project's token.
  2. Suspicious Distribution Practices
    Distributing large quantities of Gems non-transparently, such as allocating them disproportionately to insiders or KOLs without clear disclosure.
  3. Misrepresenting Gem Redistribution
    Providing false information about the amount of claimed $S being distributed to users during any season.

Note: Users are encouraged to report any suspicious activity or malpractice to the Sonic Labs team.

Example Distribution of Gems

Using the methodology outlined above, here is an example demonstrating the distribution of 100 Sonic Gems among five apps (A, B, C, D, and E) in Season 1. The distribution considers five random categories, Sonic nativeness, and point score.

Let’s assume the following weights:

Now that we have weights for each app (excluding the incentive weight, which applies only from Season 2 onward), we can proceed to calculate their Gem scores, which simply multiplies their category weight with their Sonic native weight.

After calculating each app’s Gem score, the next step is to determine their point score, which represents the proportion of Sonic Points each app generated for its users. In this example, we’ll assume the five apps collectively generated a total of 1,000 Sonic Points, with each app contributing a randomly assigned share.

To calculate an app’s point score, divide the number of Sonic Points the app generated by the total Sonic Points generated during the season.

With each app’s Gem and point score calculated, we can now calculate their final score. Remember, the formula for that is Gem Score × (1 + Point Score).

Finally, we can determine the number of Gems each app will receive based on the calculations above. The formula is straightforward: divide the app’s final score by the total final scores of all apps, then multiply the result by the total number of Gems available for the season.

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Ripple addresses RLUSD New York delay, as XRP’s growth fuels ecosystem hype
Regulatory hold on RLUSD has not dampened XRP's significant market momentum.

Ripple has announced a delay in the launch of its RLUSD stablecoin due to regulatory issues with the New York State Department of Financial Services (NYDFS).

In a Dec. 4 statement on X (formerly Twitter), the platform stated:

Further, Ripple emphasized its commitment to regulatory compliance, reassuring RLUSD would only be launched after securing the necessary approvals from NYDFS.

Fox Business journalist Eleanor Terret noted that her earlier report about the NYDFS’s nearing approval for RLUSD was confirmed by Ripple’s post. She added that while two sources had pointed to Dec. 4 as the potential launch date, unexpected developments have led to the current delay.

New York’s stringent crypto regulations require companies serving state residents to obtain a BitLicense or a limited-purpose trust company charter from the NYDFS. According to the regulator’s website, only 33 firms have secured these licenses, including Ripple and its subsidiary Standard Custody.

 

Interest in XRP’s ecosystem soars

Ripple’s delay of RLUSD comes at a period of heightened interest in XRP’s ecosystem.

Over the past month, the digital asset recorded a 400% price growth, pushing its value into the top three cryptocurrencies by market cap.

However, XRP dropped by around 10% in the last 24 hours, falling to $2.2 before recovering to $2.4 as of press time. This price performance wiped out over $55 million from crypto speculators, according to Coinglass data.

Nevertheless, interest in the token and other projects within its ecosystem is at a record level. For context, data from XRPScan shows that the number of active accounts on the XRP Ledger (XRPL) has crossed 100,000 for the first time.

Additionally, Dexscreener data shows that there has been a steady increase in decentralized exchange trading activity during the past month, thanks to the proliferation of memecoins on the blockchain network.

 

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Corporate Bitcoin Treasuries Are All the Rage. Now XRP?
Worksport, a Nasdaq-listed manufacturer of covers for pickup trucks, has decided to not only buy bitcoin for its corporate treasury, but also Ripple's XRP.

What to know:

  • Worksport, a tiny Nasdaq-listed company, is investing some of its cash reserves into bitcoin and XRP.
  • The company announced that it will allocate 10% of its cash reserves, or a maximum of $5 million, into the cryptocurrencies, but that that ratio could change in the future.
  • Steven Rossi, CEO of Worksport, has personally been invested in XRP for a while and is a strong believe of decentralization, he said in an interview.

Worksport (WKSP), a tiny Nasdaq-listed maker of covers for pickup truck beds, has added its own twist to the newly popular corporate strategy of buying bitcoin that was introduced and made famous by Michael Saylor's MicroStrategy (MSTR).

The New York-based company, which has a $20 million market capitalization, is investing up to 10% of its cash reserves into bitcoin (BTC) and also Ripple’s native cryptocurrency, XRP (XRP). At present, that equates to up to $5 million.

This shift is intended to protect the company’s assets against inflation and to enhance transaction efficiency, the company said.

Since Donald Trump's election a month ago, at least a dozen other companies have announced they plan to stash extra cash in bitcoin. But Worksport's embrace of XRP, the third-largest cryptocurrency by market cap, is different.

“I think that XRP is becoming a much more stabilized currency and asset and [...] while I think that over the next little while, it’ll be volatile like most assets are, we think that it’ll be stable enough and bring value enough for us to build parts in cash there and enjoy some upside potential,” Steven Rossi, founder and CEO of Worksport, said during an interview.

Rossi has personally invested in XRP for a few years, he told CoinDesk, and believes that it is crucial for businesses to own decentralized assets.

"When I saw my wallet and I saw that XRP has been doing quite well recently, I was pleasantly surprised, and it reaffirmed that … these [are] early assets that really challenge central banking," he said.

Many companies that have previously announced plans to diversify their Treasury reserves have seen their stock rally shortly after — even before they spend a dime on bitcoin.

Worksport's stock price has fallen 65% over the past five years.

“The market for small issuers like us has been kind of a lagger,” Rossi said. “We obviously expect the market to react as it will positively or negatively [...] but as a cash-generating business like us … we’re less reliant on stock price for survival like some issuers.”

 

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