Take a look at the most noteworthy industry events and important project developments in the coming week.
- The Blast airdrop will launch on June 26th.
- Orderly Network will airdrop 10% of the total token supply to early users.
- The provisions of the EU MiCA applicable to stablecoins were implemented in phases on June 30.
- Canada will impose capital gains taxes on stocks and cryptocurrencies starting June 25.
- Approximately $56.1 million worth of OP will be unlocked on June 30th.
This week (June 24-June 30, 2024) Web3 events are not to be missed. The following is a preview of this week’s highlights:
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important events
Canada will impose capital gains tax on stocks and cryptocurrencies from June 25, with tax rates ranging from 50% to 67%, affecting individuals with capital gains of more than 250,000 Canadian dollars per year. There is no tax on buying or holding cryptocurrencies; cryptocurrencies are taxed as business income or capital gains in trading activities such as cryptocurrency sales and mining activities. Individual cryptocurrency holders are taxed on 50% of their total capital gains, while professional traders (day traders) are taxed on 100% of their profits.
The Zimbabwean government is seeking opinions on regulating cryptocurrency operations, hoping to receive comments by June 26.
The Ministry of Economy, Trade and Industry of Japan is recruiting demonstration projects for building digital public products using Web3 and blockchain. The deadline is 17:00 on June 26.
The EU Crypto-Asset Market Regulation (MiCA) will be implemented in stages , with June 30 as a key deadline. Some regulations applicable to stablecoins are being gradually implemented. Existing stablecoin issuers must adjust their operations from the June 30 deadline to comply with certain MiCA requirements, but the most stringent requirements (such as capital and reserve obligations) will take full effect later, ensuring that existing businesses have a transition period to adapt. Stablecoin issuers operating outside the EU but providing services to EU residents also need to comply with MiCA regulations.
In addition, the European Securities and Markets Authority (ESMA) is reviewing blockchain MEV (maximum extractable value) to determine whether it constitutes market manipulation, with a public feedback deadline of the end of June.
Hungary is advancing a legislative proposal put forward by the Hungarian Ministry of Economy, which plans to allow banks, investment funds and asset management companies to provide cryptocurrency market services. The Hungarian Central Bank will be responsible for regulating cryptocurrency services. The legislation will come into effect on June 30.
Project Progress
Token issuance
AI game AI Arena will launch the token NRN on June 24, and the application website will be open at 15:00 on June 24.
The Ethereum L2 network Blast airdrop will be launched on June 26. Blast said that due to a slight delay from the initial estimate of May, the airdrop allocation share will be increased. Blast said that its ecological DApps must distribute all Gold or points to users before 20:00 Beijing time on June 25. If the user's EOA has Gold or points, it is necessary to log in to the Blast dashboard at least once with the EOA (by receiving an invitation or linking it to an existing account) in order to include it in the airdrop calculation. At the same time, the Blur Season 3 event will also end on June 26. At present, the exchange Bitget has announced that it will launch BLAST, with trading opening time at 22:00 Beijing time on June 26 and withdrawal opening time at 23:00 on June 27.
Orderly Network, a full-chain derivatives liquidity layer project, will airdrop 10% of the total token supply (100 million) to early users. NEAR traders need to bind their wallets before June 27.
The SWIO TGE of blockchain game developer Second World Games’ token will be held on June 26.
The Tap Protocol token TAP will be launched on June 28th.
Other developments
The next halving date for the BitTorrent ecological file storage network BTFS is 00:00 UTC on June 25 (08:00 Beijing time on June 26).
Gitcoin will deprecate Allo v1 on June 25 to transition to Allo v2. Officials said that for funding round creators, rounds created on Allo v1 will be used in view-only mode in Manager after the deprecation date; for grantees, after the deprecation date, projects created on Allo v1 will be able to view their current status in Builder, but new operations will not be able to be performed; for donors, v1-related websites will be deprecated and donations will no longer be accepted through Grants Stack.
Blockchain video delivery network Theta Labs released a new Edge node client with Elite+ Booster functionality on June 26, enabling users to participate in the next generation of AI and computing work.
Worldcoin will begin launching the World ID Orb verification service in Ecuador on June 26, with services available at six locations in two cities, the first in the port city of Guayaquil on June 26 and the second in the capital Quito on June 27.
Starknet's space strategy blockchain game Influence will be launched on the mainnet on June 27.
ZK Nation said that the airdrop claims for contributors of some external projects of ZKsync, Protocol Guild and ZKsync native projects will be open on June 27, 2024.
The Illuvium creator program has been extended to 8:00 on June 30. The weekly creator token pool is 100 ILV, 37 ILV tokens will be allocated to the creators with the highest participation, 37 ILV tokens will be allocated to the creators with the highest views, 13 ILV tokens will be allocated to creators who introduce new players to the Illuvium ecosystem, and 13 ILV tokens will be randomly allocated to creators with a live broadcast time of 3 hours or more in a week.
Solana ecosystem DePIN protocol io.net's Ignition Season 3 event will last until June 30th.
Solana Ecosystem Financial Instruments Product Provider PsyFi Products have stopped service, and its users are required to withdraw assets from all PsyFi products (PsyVault and PsyLend) before June 30 to avoid any potential problems later. Previously, PsyFi stated that due to the upgrade of the Pyth oracle, it could not guarantee that PsyFi products would be supported, so all products will enter withdrawal-only mode from now on.
Upcoming Events
BNB Chain’s second quarter hackathon “One BNB- Coding the Future” Demo day will be held on June 26, the winning projects will be announced on July 1, and the incubation program will be held from July 1 to 31.
The Super Artificial Intelligence Alliance ASI held a token merger conference at DigiExpo in Antalya on June 29. The ASI token merger plan will be implemented on July 1. In the first phase, AGIX and OCEAN will be temporarily merged into FET, and then converted to ASI later.
The Arbitrum Stylus Blitz hackathon will be open for project submissions from June 24 to June 30, with review from July 1 to July 7, and the selected projects will be announced on July 8. This hackathon will provide $15,000 in funding for Stylus developers, which will be allocated to 10 projects, and each selected project will receive $1,500 in funding.
The third round of BNB Chain's "Airdrop Alliance Plan" mission will be held from 20:00 on June 12 to 20:00 on June 26. This phase will include more than 2.3 billion points and a total of more than 8 million tokens. Users can get rewards by completing tasks set by airdrop alliance members. Participating projects include: Xterio, REVOX, Burve Protocol, Alaya AI, Mummy.io, Meet48.
Token Unlock
According to Token Unlocks data, this week ALT, OP, etc. will have a one-time large-scale token unlocking, with a total release value of over $100 million, including:
AltLayer token ALT will unlock 105 million tokens at 18:00 on June 25, worth approximately $19.88 million, accounting for 6.92% of the circulation;
Optimism token OP will unlock 31.34 million tokens at 8:00 on June 30, worth about 56.1 million US dollars, accounting for 2.88% of the circulation;
16.69 million Yield Guild Games tokens YGG will be unlocked at 22:00 on June 27, worth approximately US$10.65 million, accounting for 4.48% of the circulation.
Voting Governance
Voting for Aave Labs’ proposal to become a service provider for the development of Aave V4 and a new visual identity closed on June 24th.
The Gitcoin community’s proposal to delegate voting power for Gitcoin Treasury’s RAD tokens to strategic leader @Sov closes on June 24th.
The Metis community vote on the proposal to elect Barsik as a mascot closed on June 25. This is the second and final vote for Barsik, as the previous vote did not reach a quorum.
The Arbitrum DAO proposal for the Multi-Signature Support Service (MSS) election closed on June 28th.
