Latest news with #SNT
Business Insider
09-07-2025
- Business
- Business Insider
Status Unveils First Gasless L2 on Linea With 100% Community Yield Allocation Mechanism
The new Status L2 rewrites rollup economics by replacing sequencer fees with native yield and native app revenues, unlocking friction-free onboarding for games, social apps and DeFi. Status (SNT), a pioneer in decentralised communication since 2017, has launched the world's first natively gasless Layer 2 on testnet, built on Consensys' Linea stack, the leading high-performance zkEVM rollup. This marks a major milestone for Ethereum scalability and sustainability as Status Network introduces a radically different revenue model: eliminating transaction fees entirely while funding builders and liquidity providers through bridged yield and native app fees. Users can follow Status for updates: As transaction costs across L2s are currently trending towards zero, Status Network breaks from sequencer fee dependence and instead earns revenue from yield-bearing bridged assets and native application activity. 'We designed Status Network so developers can ship games, seamless social experiences, and DeFi protocols without forcing users to preload gas or builders to manage paymaster contracts,' said Cyprien Grau, Lead at Status Network. 'By rehypothecating yield-bearing TVL and sharing every cent of net yield with the community, we're aligning incentives for all L2 stakeholders: builders get funding, LPs get sustainable returns, and users get a true free-to-play blockchain.' Status Network carries forward the founding principles of the original Status app: privacy, sovereignty, and open access. It's designed as a seamless, high-performance platform where communities can exchange, build, and govern freely. Users can learn more about Status Network: A Business Model Built for the Next Decade Yield, not gas: Bridged ETH and stablecoins are converted into yield-bearing equivalents (e.g., stETH, sDAI). The protocol captures that yield along with fees from native apps rather than relying on sequencer revenues. Sustainable flywheel: Gasless UX and organic yield attract more users, deposits, and app usage, generating a higher native L2 yield, attracting yet more users. And, pending governance approval, part of that native yield can be used to fuel SNT buy-backs and burns, further aligning the Status community with the success of the network. The ongoing development of Status L2 follows the vision laid out in the original Status whitepaper and was initiated through a community vote by SNT holders, alongside the SNT staking initiative. Through its built-in public funding pool, Status Network will fund open-source protocols and public goods building on Ethereum. As Linea's first external collaborator, Status is co-developing the bridged yield feature, which will soon be available to all Linea-based L2s, further contributing to the zkEVM stack's long-term sustainability. Status will also play a crucial role in both the Linea and broader Ethereum ecosystems; further details will be disclosed soon. 'We're proud to see Status Network launch the first gasless Layer 2 powered by the Linea zkEVM technology stack,' said Declan Fox, Head of Linea. 'We aim to build better economics and governance, in alignment with Ethereum's core values. Status supports builders and public goods while providing free transactions at scale - exactly the kind of mission-driven approach we aim to empower. With the Linea stack's high throughput, low latency, and fast finality, we're enabling the performance needed for apps to grow, thrive, and get funded, whilst anchoring into the same root of trust: Ethereum.' Built for Games, Social & DeFi - With Better Privacy With fees replaced by native yield, users can interact with apps without needing to bridge tokens or top up gas, creating a frictionless experience. Games can finally deliver true free-to-play mechanics and support non-financial onchain actions without maintaining gas-sponsoring infrastructure. Social apps benefit from streamlined user onboarding and Web2-like UX, and DeFi protocols tap into yield-boosted liquidity from day one. Early builders include mobile fishing RPG Cats Fishing, free onchain gacha PonziHero from Spla Labs, and metaverse casino Hash Vegas. Native DeFi apps will be announced in the coming weeks. As anyone can get started without a wallet balance or history, gasless transactions strongly enhance account anonymity, enabling better privacy for transfers and applications. Availability & Roadmap Status Network's public testnet v1 is now live with fully gasless transactions. Testnet v2, featuring RLN-based spam protection and native yield routing, launches in October 2025, alongside a pre-deposit campaign to kickstart the bridged yield. Mainnet launch is targeted for Q1 2026. Developers can start building today at Status Network is the first Ethereum L2 with gas-free transactions at scale. Funded by native yield and app fees, it redistributes 100% of net revenues to its community, powering sustainable liquidity incentives, a public funding pool, and SNT buy-backs. Built on the Linea zkEVM stack, it enables frictionless onboarding for games, social apps, and DeFi while remaining fully aligned with Ethereum security and values. Contact Public Relations
Morocco World
06-06-2025
- Business
- Morocco World
Historic Social Agreement at Maroc Telecom Brings Wage Hikes, New Benefits
Doha – The National Telecommunications Union (SNT), affiliated with the Democratic Federation of Labor (FDT), has secured a substantial social agreement with Maroc Telecom management that improves working conditions and benefits for employees and retirees. This agreement marks a positive transformation within the company since Mohammed Benchaaboun took over as head of its collective management in March, ending Abdeslam Ahizoune's 27-year tenure that was marked by criticism for anti-competitive practices and labor disputes. The announcement followed a meeting between the union's Secretary General, Hamid Kejji, and the company's Human Resources Director on Friday. This discussion continued the social dialogue initiated during previous talks in April with Benchaaboun. Under the new agreement, employees will receive a general 5% wage increase with a minimum of MAD 500 ($50) monthly beginning in June. The education grant for employees' children rises by 50%, while the number of higher education scholarships for outstanding children of employees doubles to 20 annually. The company will reduce prices at its summer camps and vacation centers by 50%, with a minimum reduction of MAD 150 ($15). Maroc Telecom's contribution to private vacation center access has increased by 30%, reaching 130%, and now extends beyond summer months. Workers will also enjoy preferential rates at private sector vacation facilities outside peak season. The agreement extends health transport (ambulance) services to include retirees and establishes communication channels with retirees through a mobile application and a dedicated email address. Additionally, the budget for incentives has been increased for employees participating in sales operations, service expansion, and network connections. This agreement stands in stark contrast to previous management approaches. Labor representatives had previously criticized management practices within the company, pointing out long-standing issues where employees worked for 20 to 30 years without promotional opportunities. Union demands had consistently focused on fair wage adjustments and addressing stalled promotion files, particularly for long-serving staff members and those with advanced qualifications. Read also: Maroc Telecom Set to Vote on Governance Structure Overhaul The SNT praised this new agreement, stressing 'the positive momentum the company has experienced at various levels since the appointment of Mr. Mohammed Benchaaboun at the head of collective management.' The union noted his 'social awareness and unprecedented initiative toward telecommunications workers,' signaling a clear break from the management style of his predecessor, Ahizoune. As the leading union in the sector, the SNT pledged to continue defending workers' rights while engaging responsibly in projects aimed at strengthening Maroc Telecom's leadership. Their focus remains on improving services nationally and internationally while enhancing working and living conditions for employees and retirees. This agreement establishes a model for constructive social partnership between unions and management of major national institutions, introducing a fresh approach to professional relationships built on dialogue, collaboration, and responsibility. Tags: Maroc TelecomTelecommunications in Morocco
United News of India
06-06-2025
- United News of India
Braving harsh weather, forces airlift 17 tourists from north Sikkim
Gangtok, June 6 (UNI) Braving the prevailing adverse weather conditions, the Indian armed forces on Friday safely airlifted 17 stranded tourists from north Sikkim's last village Chaten, to the Pakyong greenfield airport, some 30 km east of Gangtok, official sources said. The MI-02 helicopter successfully carried out the first evacuation of the day, airlifting 17 tourists, both men and children, who were stuck at Chaten since May 29 when massive landslides followed by cloudbursts and torrents cut off the last village, about 130 km north of Pakyong. "The same helicopter has been deployed again to evacuate the remaining stranded persons," a government communique said. "Evacuation operations will continue depending on weather conditions and logistical arrangements," the communique added. On Thursday, two helicopters were pressed into service, while one successfully brought the stranded travellers, the other had to return to Chaten with the tourists on board. To ensure smooth onwards travel to Gangtok, the SNT (Sikkim Nationalised Transport) buses have been stationed at the airport for the evacuees' convenience. A medical team from the health and family welfare department, Pakyong, was at hand at the airport to carry out preliminary health screenings for the arriving evacuees. With the 17 evacuations of the day, the armed forces have airlifted 80 stranded tourists, two of them American citizens, since the aerial rescue operation began on June 3 after foot bridges were washed away, creating piles of rubble and huge boulders. The government officials said around 50 more travellers were stranded and awaiting airlifting. The travellers are from almost all the states of the country, according to the list of stranded tourists. UNI PC ARN PRS
Indian Express
05-06-2025
- Indian Express
Sikkim lanslide: 63 stranded tourists airlifted in 2 batches, 15 still missing
In a concerted effort to ensure the safety of tourists amidst challenging weather conditions, the government of Sikkim successfully airlifted 63 stranded tourists from Chaten to Pakyong Greenfield Airport on Thursday, officials said. Landslides and flash floods caused by heavy rain since May 29 have left thousands of tourists stranded. According to officials more than 1,800 tourists have been rescued from Sikkim till now and two batches were evacuated on Thursday. According to a statement by the Ministry of Defence, the relief operations in Sikkim continued with the IAF employing four MI-17 and two Cheetah helicopters into service, through which they were able to reach the isolated and severely affected areas of Chaten. The helicopters also delivered 6,000 kg of relief material in 22 sorties, providing critical aid to stranded civilians, service personnel, and foreigners in the landslide-affected area. Chaten is located near Lachen, a small town in Mangan district, which is used by travellers to reach Gurudongmar Lake, which is a popular tourist destination. Sonam Detchu Bhutia, Superintendent of Police (SP), Mangan district, in North Sikkim while speaking with The Indian Express, 'Rescue operations are ongoing and 63 tourists are still stranded in Sikkim. The total number of missing persons stands at 15, comprising six army personnel and nine civilians.' SP Bhutia said that efforts to locate the six missing army personnel after the landslide at the military camp have been unsuccessful. 'Those who are missing post that incident are feared to have gotten buried in the debris, which was flown away by the river, hence it has not been possible to rescue them,' he said. Officials said the initial evacuation on Thursday saw two MI-17 helicopters transport 39 evacuees and a Cheetah helicopter transport four others from Chaten to Pakyong, after which 20 more tourists, including foreign nationals, were carried in the second phase to the Pakyong Greenfield Airport. For the first phase, following their arrival at Pakyong, the state government arranged Sikkim Nationalised Transport (SNT) buses to facilitate their onward commute to Siliguri. An MI-17 helicopter was also placed on standby for tourists preferring air transit to Bagdogra. For the second batch, SNT buses have been arranged for a commute to Gangtok, while a separate MI-17 helicopter sortie was organised for those opting to travel to Bagdogra. 'The state government continues to prioritise the safety and comfort of tourists during these unprecedented weather conditions,' read a statement issued by the Government of Sikkim. According to a senior Sikkim police official, the roads are clear up to Mangan, but the Mangan-Chungthang stretch is in poor condition, and authorities have advised against travel on the route. Additionally, Lachen remains cut off from the rest of the district, hindering rescue and relief operations. Sweety Kumari reports from West Bengal for The Indian Express. She is a journalist with over a decade of experience in the media industry. Covers Crime, Defence, Health , Politics etc and writes on trending topics. With a keen eye for investigative and human-interest stories. She has honed her craft across diverse beats including aviation, health, incidents etc. Sweety delivers impactful journalism that informs and engages audiences. Sweety Kumari is a graduate of Calcutta University with an Honors degree in Journalism from Jaipuria College and a PG in Mass Communication from Jadavpur University. Originally from Bihar, she is brought up in Kolkata and completed her education from Kendriya Vidyalaya SaltLake. Multilingual, Sweety is fluent in English, Hindi, Bengali, and Maithili. She started her career as an Entertainment and lifestyle journalist with a newsportal in Kolkata. She is working with The Indian Express for 8 years now. ... Read More
The Print
05-06-2025
- The Print
Rescue ops begin in Sikkim, first batch of stranded tourists successfully evacuated from Chaten
In order to provide convenience to the tourists to commute to Siliguri, the Government of Sikkim has further arranged SNT buses for their ease. According a release, the two MI 17 helicopters have successfully completed its first evacuation operation, transporting 39 evacuees from Chaten to Pakyong Greenfield Airport. Additionally, four passengers were safely evacuated using the Cheetah Helicopter. Pakyong (Sikkim) : The evacuation of stranded tourists from Chaten has begun today at Pakyong Greenfield Airport. Additionally, MI-17 helicopter is on standby to assist in airlifting the stranded tourists to Bagdogra safely, ensuring support and safe transport are readily available for those in need, the release said. Meanwhile, in support of the rescue efforts on the ongoing disaster in North Sikkim, the first sortie of the day, two MI-41 and MI-39, successfully departed from Pakyong Greenfield Airport towards Chaten early this morning. According to a release, the aircraft comprises nine personnel from the National Disaster Response Force (NDRF), along with their equipment, to provide support for ongoing disaster relief. Likewise, a team from the Power Department, Government of Sikkim, and Airtel's telecommunication services is also being airlifted. They are on a mission to restore essential services, including telecommunications and electricity, using satellite-based technologies and portable backup batteries in areas rendered inaccessible by road. As per the release, a team of police personnel from the communication branch with essential equipment are also proceeding towards the affected areas to bridge the gap between isolation and service and restore normalcy in the lives of those affected. Due to the persistent bad weather in the region, helicopter sorties from Pakyong Greenfield Airport were temporarily suspended, which delayed further evacuations. However, as the weather conditions improved, a mission was carried out with the deployment of two helicopters to assist in the evacuation of tourists stranded in Lachen. The deployment is to bolster on-the-ground initiatives in the remote region, where recent natural disruptions have significantly impacted access. The goal is to connect with isolated communities and facilitate the timely delivery of aid. Several days of heavy rainfall have triggered landslides, mudslides, flash floods, and rockfalls in many parts of the state. Lachen village, the region's leading tourism hub, has been completely cut off. On June 4, the Army established foot connectivity to the village and reached out to 113 stranded tourists, who will be evacuated soon. On June 3, nearly 30 tourists, including some foreign nationals, were successfully airlifted by military helicopters. Meanwhile, six individuals are still missing after the landslide struck a military camp in the Chatten area of North Sikkim. A rescuer from the army, who remains deployed at the spot of the landslide in Chatten that occurred on June 1, said that nine personnel have died in the incident. He added that the area had witnessed incessant rainfall from May 30, leading to a massive landslide. The missing include Lieutenant Colonel Pritpal Singh Sandhu, Subedar Dharamveer, Naik Sunilal Muchahary, Sepoy Sainudheen PK, Squadron Leader Aarti Sandhu (Retd), wife of Lieutenant Colonel Sandhu, and their daughter Amayra Sandhu. This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content. Also read: Sikkim's accession to India has 6 stories. And 3 strong-willed women
