The Daily: MicroStrategy buys over $1 billion more bitcoin, Wormhole brings Worldcoin's World ID to Solana, Starknet community approves staking vote

It's Friday! In today's Daily, MicroStrategy buys an additional 18,300 bitcoin for $1.1 billion, Wormhole brings Worldcoin's World ID to Solana, the Starknet community votes to implement STRK token staking and more.

Meanwhile, the SEC claimed that when it said "crypto asset securities" it never meant tokens were actually securities.

Let's get started.

MicroStrategy buys additional 18,300 bitcoin for $1.1 billion

Business intelligence firm and corporate bitcoin holder MicroStrategy bought another 18,300 BTC for approximately $1.11 billion, raising its total holdings to 244,800 BTC — some 1.2% of bitcoin's total 21 million supply.

• MicroStrategy's latest acquisitions were made between Aug. 6 and Sept. 12 at an average price of $60,408 per bitcoin, according to a form 8-K filing with the SEC on Friday.
• The purchases were made using proceeds from the issuance and sale of 8,048,449 shares, corresponding to the equivalent value of $1.11 billion.
• The move follows MicroStrategy's acquisition of 12,222 BTC for $805 million in August when it also introduced a new key performance indicator for its bitcoin strategy.
• The firm's total bitcoin holdings are currently worth over $14.6 billion, having been acquired for a total cost of around $9.5 billion an average purchase price of $38,585 per bitcoin, according to the company's founder and executive chairman, Michael Saylor.
• MicroStrategy's stock is up 7.9% on the day, trading at around $141.10, according to TradingView.

Wormhole brings Worldcoin's World ID to Solana

Wormhole has integrated Worldcoin's World ID into Solan a, allowing developers to "prioritize real humans" in their blockchain applications, a feature that was previously more accessible to Ethereum developers.

• Worldcoin assigns digital identities to people via its eyeball-scanning Orbs in exchange for WLD tokens, aiming to foster trust on the internet by distinguishing between human and non-human actors.
• The project claims to have around 6.6 million sign-ups and has drawn additional attention as Tools for Humanity, the core contributor to Worldcoin, was co-founded by OpenAI CEO Sam Altman.
• The Worldcoin Foundation provided a grant to Wormhole contributors in June to complete the integration.

Starknet community approves vote to implement STRK token staking

Starknet approved a governance proposal to implement staking on the network by the end of 2024, allowing STRK token holders to earn rewards in a step toward further decentralization.

• The vast majority of Starknet token holders ratified the proposal submitted by core developer StarkWare earlier on Friday.
• Staking will require a minimum of 20,000 STRK tokens (roughly $8,000), with holders below the threshold able to participate by delegating their tokens to eligible stakers.
• A 21-day lock period will be imposed before staked funds can be withdrawn, alongside a minting mechanism designed to balance rewards and inflation.
• Starknet token staking is anticipated to go live on the testnet soon, followed by deployment on the mainnet in the fourth quarter.

ZKsync activates decentralized governance system with onchain contracts

ZKsync has activated its decentralized community governance system with smart contracts now live on the mainnet.

• The governance model involves three bodies: the Token Assembly, Security Council and Guardians, designed to provide a balanced distribution of governance power with no single party having overarching control, the project said.
• The Token Assembly allows token holders to propose and vote on changes, while the Security Council reviews code and Guardians hold veto powers to "ensure all decisions align with the core values of the ZKsync ecosystem."
• Developer Matter Labs launched the ZKsync Era mainnet in March 2023, and the ZK token was rolled out alongside an airdrop and plans for the governance system in June 2024.

Polygon's POL token surges after Binance listing

Polygon's POL token surged over 15% following its listing on Binance on Friday, marking the unofficial end of the MATIC migration.

• The upgrade from MATIC to POL was announced in July, with the transition beginning on Sept. 4, making POL the native token for Polygon's PoS chain.
• POL maintains MATIC's tokenomics, with a 1:1 exchange ratio and a gradual increase of 2% in emissions over ten years to support growth.

Looking ahead to next week

UK and Eurozone CPI figures are released on Wednesday, followed by the U.S. Federal Reserve's latest interest rate decision. The Bank of England's interest rate decision comes on Thursday, as does U.S. jobless claims data.

• ECB President Christine Lagarde and U.S. FOMC member Patrick Harker will speak on Friday.
• TOKEN2049 and Solana Breakpoint 2024 both get underway in Singapore over the next seven days.

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