PANews reported on August 17th that Faraday Future (founded by Jia Yueting) announced and launched its "EAI + Crypto" dual-flywheel and dual-bridge ecosystem strategy. The company plans to launch EAI EV asset blockchains, creating an EAI travel + Web3 + blockchain technology + crypto asset application ecosystem.
In addition, Faraday Future launched the C10 Index, the first crypto asset basket index (excluding stablecoins) launched by a US-listed company. Faraday Future also released the C10 Treasury, a treasury product based on the C10 Index. The initial phase aims to purchase crypto assets totaling $500 million to $1 billion, once the necessary funding is secured. The initial allocation will be $30 million.



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