Japan Rejects Bitcoin Reserves

What is Grass Network?

Grass Network is a decentralized web scraping protocol DePIN (Decentralized Physical Infrastructure Network), that enables users to monetize their unused internet bandwidth. By connecting users with AI labs and retailers, Grass creates a mutually beneficial ecosystem where participants can earn rewards while contributing to the development of transparent AI models.

Having secured $4.5 million in seed funding led by Polychain Capital and Tribe Capital in December 2023, Grass has positioned itself as a key player in democratizing AI development. The project operates on the Solana blockchain, leveraging its speed and scalability while maintaining robust security through zero-knowledge (ZK) technology.

Grass Network Technology Overview

The Grass Network consists of several key components:

• Grass Nodes: Process web scraping requests using unused residential bandwidth
• Validators: Verify transactions and generate zk-SNARK proofs
• Routers: Maintain secure connections between nodes and validators
• ZK Processors: Generate validity proofs and create immutable records
• Data Ledger: Store and manage structured datasets
• Edge Embedding Models: Transform scraped data for AI training

Grass Stage 1 Airdrop Claim Details

The initial stage of the Grass airdrop has concluded with remarkable success, becoming the most widely distributed airdrop on Solana with 2.8 million users across 190 countries. A total of 100 million GRASS tokens have been allocated for distribution.

Token Allocation:

• 9% to users who earned Grass points
• 0.5% to GigaBuds NFT holders
• 0.5% to Desktop Node/Saga Application users

Circulating Supply:

Community — 300,000,000

The GRASS community allocation is broken down into the following categories:

1. Future Incentives - 170,000,000

   1. Future Incentives will focus on retroactive programs that recognize early contributors and compensate creators who build valuable content or tools for the network.

2. Router Rewards — 30,000,000
   1. An initial pool of rewards has been set aside to incentivize routers and support early infrastructure development. This pool will help ensure that routers, which facilitate bandwidth traffic and reduce latency, are properly incentivized until the network matures and can sustain itself through network fees.
3. Airdrop One — 100,000,000
   1. The first airdrop is one of the most widely distributed airdrops in history and represents a crucial step toward building the first user-owned map of the Internet.

Foundation & Ecosystem Growth — 228,000,000

The foundation allocation of GRASS will be held by the foundation to support the ongoing operations of the Grass Network. The ecosystem allocation will be aimed at scaling the Grass ecosystem, through supporting community and growth initiatives like network upgrades, partnerships, research and development. This will be reserved for use as directed by DAO governance.

Early Investors — 252,000,000

Early supporters with a 1-year cliff and a 1-year vesting period. Locked tokens cannot be staked until they are vested.

Contributors — 220,000,000

Core contributors with a 1-year cliff and 3-year vesting, which includes current and future contributors. Locked tokens cannot be staked until they are vested.

How to Claim Stage 1 Rewards

1. Visit the official Grass airdrop claim page
2. Connect your eligible Solana wallet
3. View your claimable token amount
4. Accept the terms and conditions
5. Complete the claim process

Important Notes:

• Claiming deadline: January 15, 2025
• If experiencing network issues, try switching to QuickNode RPC
• Multiple wallet attempts may help resolve claim issues

Grass Stage 2 Airdrop Details

Building on the success of Stage 1, Grass has launched Stage 2 with enhanced rewards and new features. This phase allocates 17% of the total GRASS supply for future incentives, offering 50% more rewards compared to Stage 1.

New Features in Stage 2:

• Live Context Retrieval (LCR)
• Hardware innovations
• Mobile app launch
• Enhanced earning opportunities

Entangle Announces Integration of XRP into Universal Data Feeds (UDF)

In our mission to enhance cross-chain functionality and expand the reach of decentralized finance, Entangle is excited to announce the integration of XRP into Universal Data Feeds (UDF). This integration enables real-time, trusted data flows for innovative blockchain applications being built in the XRP ecosystem.

Why XRP?

As one of the oldest blockchains (est. 2012) and most widely adopted digital assets, XRP is renowned for its speed, scalability, and low transaction costs, making it a cornerstone of cross-border payment solutions and decentralized finance. Recently, XRP has seen a resurgence of interest, even flipping Solana and briefly USDT in market capitalization. This renewed momentum highlights XRP’s enduring relevance and its growing role in the evolving blockchain landscape.

How XRP Benefits from UDF Integration

The integration of XRP into UDF brings transformative capabilities to its ecosystem:

• Real-Time, Verifiable Data: UDF ensures that XRP applications receive accurate, tamper-proof data feeds, unlocking new possibilities for financial products like lending, trading, and derivatives.
• Enhanced Utility in DeFi: Developers can leverage UDF in DeFi protocols that rely on external data inputs, creating innovative use cases like synthetic assets, yield optimization, and more.
• Seamless Interoperability: UDF extends XRP’s reach by providing a secure, scalable foundation for cross-chain applications, allowing XRP to thrive in a multichain Web3 ecosystem.

Driving the Future of Decentralized Finance

This integration reinforces Entangle’s commitment to building an interconnected, scalable blockchain ecosystem. UDF’s capabilities not only support XRP’s traditional use cases in payments but also its goal to play a critical role in the next generation of decentralized applications.

By not only expanding the utility of XRP, but also powering the next wave of scalable, interoperable blockchain applications, UDF provides the infrastructure to unlock XRP’s full potential in a multichain Web3 future, leveraging its speed, scalability, and liquidity. Together, Entangle and XRP are driving the next era of decentralized finance, making blockchain technology more interconnected and accessible than ever before.

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As 2024 winds down, the long-standing legal battle between blockchain company Ripple and the Securities and Exchange Commission (SEC) is still hanging in the balance. However, there are signs that a resolution might be on the horizon.

The case is at a critical point, with key deadlines looming. Specifically, the U.S. Court of Appeals for the Second Circuit set January 15, 2025, as the date for the SEC to submit its opening brief in the Ripple appeal. This filing is pivotal, as it will outline the SEC’s legal arguments.

Meanwhile, Ripple’s Chief Legal Officer, Stuart Alderoty, has clarified that the appeal isn’t about whether XRP is a security. Notably, back in 2023, Judge Analisa Torres ruled that XRP isn’t a security, which was a big win for Ripple and the broader crypto community.

“The case is not about whether XRP, in and of itself, is a security. XRP is uniquely situated as having clarity (alongside BTC) in not being classified as a security. The SEC is not challenging that ruling which stands as the law of the land,” he said. 

Ripple has also filed a Form C for a cross-appeal, but Alderoty pointed out that the review will stick to the current record. From early on in the case, he’s been quite vocal about what he sees as the SEC’s “lawless tactics.” 

While there is no final verdict, the industry is optimistic about a possible settlement ending the four-year saga. 

XRP security status 

After the initial victory in 2023, the likelihood of XRP being reclassified as security has significantly diminished, especially after Judge Torres ordered Ripple to pay a fine of $125 million in August 2024 for violating securities laws, far from the SEC’s $2 billion demand. Importantly, there was no finding of fraud or investor harm.

If the case gets stayed, it might push the SEC to drop its appeal, potentially setting a precedent for how XRP’s programmatic sales are viewed in the U.S. digital asset market.

At the same time, Ripple has questioned the relevance of the 1946 Howey Test for today’s cryptocurrencies. Some say it’s outdated, while others praise its adaptability, which allows quicker regulatory response without new laws.

Ripple has insisted that XRP, like Bitcoin (BTC), enjoys a clear legal status in the crypto world and is not classified as a security.

Impact of Trump win on Ripple case

Adding a twist to the legal drama is Donald Trump’s election victory, and his promise to support crypto might change the outlook for the case.

Industry insiders and legal experts are optimistic about how a Trump administration could influence this case. There’s talk that the SEC might rethink its strategy under Trump. 

In this line, if Paul Atkins, known for his pro-crypto stance, gets the SEC nod, he might push for dismissing the case or at least negotiate a more favorable deal for Ripple.

Attorneys like Jeremy Hogan and Fred Rispoli have suggested that new SEC leadership might review ongoing crypto lawsuits, including Ripple’s. 

Hogan believes that non-fraud crypto cases could be settled. At the same time, Rispoli sees a settlement as likely but not a complete dismissal, predicting new leaders might find the case “idiotic” and settle on easier terms.

Notably, Alderoty has urged the upcoming administration to “cleanse the lingering stain of Hinman” from the SEC. The reference to William Hinman, the former SEC director, points to the ongoing criticism of Hinman’s 2018 speech, which has been a contentious point in Ripple’s legal defense.

Ripple contends that inconsistencies in the SEC’s stance on cryptocurrency classifications have harmed innovation and market clarity.

XRP price analysis 

At the time of posting, XRP was trading at $2.21, up 1.05% in the last 24 hours and 11.5% on the weekly timeframe.

The conclusion of the legal battle will be crucial for XRP’s potential growth. After consolidating below $1, the token saw a bounce after the November election, but wrapping up the case could be a significant boost.

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