PANews reported on August 6th that the Espresso Foundation, a foundation focused on building Rollup-native infrastructure, announced the conclusion of its community token sale on the KaitoAI platform, with demand far exceeding the $4 million supply of $ESP tokens. Due to the oversubscription, actual allocation was based on factors such as the timing of the subscription, holdings of Composables NFTs, and influence in the L2 space.
To reward supporters, Espresso will airdrop additional tokens, including a fixed 25,000 $ESP, 33% of the subscription amount, and an additional 10% for Composables NFT holders. These tokens will be fully unlocked at the launch of the project.
Earlier news, encryption infrastructure company Espresso Systems completed $28 million in Series B financing, led by a16z crypto .



Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle. Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more