Take a look at the most noteworthy industry events and important project developments in the coming week.
- The ASI token merger plan will be implemented on July 1st.
- Blast ecological leverage trading protocol Particle will conduct TGE at 18:00 on July 2.
- Approximately $50.1 million worth of SUI unlocked.
- The Wormhole W airdrop claim window will close at 7:59 on July 4.
- IVS2024 KYOTO was held in Kyoto, Japan from July 4 to 6.
This week (July 1 - July 7, 2024), Web3 events are not to be missed. Here is a preview of what’s to come:
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important events
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. In the first phase, deposits and withdrawals of AGIX and Ocean will be closed on various exchanges, and deposits, withdrawals and transactions of FET will proceed as usual. Coinbase Assets tweeted that it will not perform Ocean Protocol (OCEAN) and Fetch.ai (FET) token migration on behalf of users, which must be completed by users themselves. The migration platform from AGIX and OCEAN to FET is open on the SingularityDAO dApp. The exchange rate between AGIX and FET is 1 AGIX equals 0.433350 FET, and the exchange rate between OCEAN and FET is 1 OCEAN equals 0.433226 FET. The final conversion rate is 1 FET equals 1 ASI.
This week will be a critical period for whether the Ethereum spot ETF will be approved, but it may not be the last period. Bloomberg analysts previously predicted that the U.S. Securities and Exchange Commission (SEC) may approve the Ethereum spot ETF as early as July 4, but this is unlikely to be achieved at present. However, according to people familiar with the matter, the U.S. Securities and Exchange Commission (SEC) has returned the S-1 form to the Ethereum ETF issuer and proposed amendments. The S-1 form is the second part of the two-step process for the ETF to go online. The first part is that the issuer's 19b-4 form was approved before the key deadline in May. "It will take at least one more round of revisions before it can take effect," the source said . Issuers are required to process these comments and resubmit them by July 8, so the specific effective time may be delayed until after July 8.
Project Progress
Airdrop related:
Sophon, a modular blockchain based on zkSync, is scheduled to be airdropped in the third quarter.
The io.net Season 3 claim period will begin on July 1, 2024 at 21:00.
The Blast Ecosystem Decentralized Leverage Trading Protocol Particle TGE will be held at 18:00 on July 2, of which 55% will be allocated to the community, 21% will be allocated to contributors, and 24% will be allocated to investors. In addition, the initial airdrop is 20 million tokens (about 18.2% of the community allocated tokens), which will be linearly vested over 24 months. Contributor and investor tokens will be locked for 6 months.
The Wormhole W airdrop claim window will close at 7:59 on July 4.
The first phase of Taiko token airdrop claims will be open until July 5, 2024. Users will need to bridge some ETH to Taiko to pay for gas fees when claiming.
The approximately 1.39 million DMAIL tokens that were unclaimed in the Dmail Network's first season airdrop will be used for the next round of airdrops, and the second season of DMAIL airdrops may be distributed in July 2024.
Incentive activities:
ether.fi Season 3 launched on July 1 and will end in early September 2024. Season 3 will airdrop 25 million ETHFI tokens to eligible ether.fi stakers. The allocation will be based on community participation indicators and participation levels.
The Beta version of the Aleo testnet, a programmable privacy network , will be incentivized for validators from July 1 to 15. Users can earn Aleo credit points by solving Coinbase puzzles and generating zero-knowledge proofs. The official will provide 1 million credit points to validators, and a minimum reward of 1,000 mainnet credit points will be obtained. If the user earns less than this number of points, he will not be able to receive the reward.
The first round of airdrops for the full chain abstraction L1 Zetachain XP will allocate 10 million ZETA rewards. Teams that deploy active contracts on the Zetachain mainnet and have active users can submit ZETA reward RFP proposals before 08:00 Beijing time on July 1. This airdrop focuses on the first batch of XP users in the snapshot on May 1. About 419,000 users are eligible, and these users have at least 200,000 XP.
Arbitrum ecosystem DEX Camelot's new round of ARB liquidity activities will last until July 7, issuing 1.545 million ARB tokens.
Taiko, a zkRollup-based Ethereum second-layer network, said that the "Trailblazers Trail 3" game activity has been extended to two weeks. Users who play games on Taiko and conduct in-game on-chain activities before July 7 will receive the Bouncer Faction badge, which can also receive bonus points. Currently, the incentive activity includes 9 games: Looperlands, Crack&Stack, 0xAstra, 21BJ, EVM Warfare, Stupid Monkeys, Swords & Dungeons, Ultiverse, and Zypher Network.
Project progress and upgrades:
Mantle will start launching cmETH and COOK on July 1st. cmETH will become the new liquid re-staking token (LRT), and COOK will be introduced as the new governance token of Mantle LSP.
Decentralized options platform Opyn will launch the perpetual contract agreement Opyn Markets. The landing page will be launched on July 1. The platform supports any asset and provides linear, stable and option-like perpetual contracts.
The Taiko BCR mainnet protocol will be upgraded to version 1.7.0 on July 1. This version is ABI compatible with the current Taiko-geth and client versions, but includes underlying protocol changes that affect block proposers and certifiers. Taiko recommends that all Hekla block proposers and certifiers update their transaction parameters as soon as possible.
South Korean blockchain gaming platform WEMIX will activate the Brioche hard fork on July 1. The changes in the token economic model brought about by the Brioche hard fork include: implementing halving to adjust the number of coins, destroying about 435 million WEMIX in the foundation's reserve, and allocating ecosystem development funds, non-circulating WEMIX holdings, and development costs according to the circulation supply plan. The goal of the adjustment is to achieve a total supply of 588 million WEMIX by 2100, a 60% reduction from the current maximum supply of 980 million.
Kyber Network announced that it will temporarily suspend the Gas Refund Program V1 starting from July 2, and said that the program may be restarted with a different design. Kyber Network's Gas Refund Program V1 was implemented in July 2023.
Scroll will implement the Curie upgrade on July 3. This upgrade introduces data availability (DA) compression to reduce the size of Layer1 DA and its associated gas fees, and also includes two transaction types: EIP-1559 and EIP-2930, as well as a basic fee model to stabilize Scroll's gas fees. Scroll said, "This upgrade will reduce gas fees on the Scroll chain by 2 times."
The blockchain game Space Nation will launch the Closed Beta 2.0 test version on July 5. Players can obtain activation codes by holding Space Nation ecosystem NFTs, participating in Space Trek, Space Nation: Orion and future events, and thus obtain the qualification to enter the game.
The release of Uniswap v4 is tentatively scheduled for Q3 2024.
Upcoming Events
The winning projects of BNB Chain’s 2024 Q2 Hackathon “One BNB- Coding the Future” will be announced on July 1, and the incubation program will be held from July 1 to 31.
The developer community OpenBuild and the Starknet Foundation jointly launched the 2024 Developer Season, which includes a series of activities such as online Bootcamp, hackathon and offline Hackerhouse. The Starknet DeFi Bootcamp will officially start on July 1.
CKB Eco Fund and Hashkey Capital will jointly host the "Bitcoin Community Mixer Singapore" offline event from 18:00 to 21:00 on July 2. The event is co-organized by MoleDao and guests include CKB Eco Fund Partner Baiyu, Cell Studio Founder Cipher, etc.
The application deadline for TON Season 5 The Open League is 19:00 on July 3.
IVS2024 KYOTO will be held in Kyoto, Japan from July 4 to 6. The summit, themed "Crossing Borders", will bring together Japanese startups and focus on how Web2, Web3 and artificial intelligence are shaping the world. Foresight News has compiled more than 50 peripheral activities for participants. Users can click here to view.
Applications for the Sui Scholarship will close on July 5, with a prize pool of $500,000.
KryptoPlanet and NEAR Protocol jointly held the Open Source AI Summit in Brussels, Belgium on July 6. Speakers included Illia Polosukhin, co-founder of NEAR Protocol, and Alexander Hicks, researcher at the Ethereum Foundation.
Token Unlock
According to Token Unlocks data, this week, multiple projects will unlock a large amount of tokens at one time, among which DYDX, SUI, and IO will unlock a total of approximately US$84.5 million, including:
Manta Network will unlock approximately 1.87 million MANTA tokens at 8:00 on July 1, accounting for 0.57% of the circulation, with a value of approximately US$1.88 million;
DYDX will unlock approximately 8.33 million DYDX tokens at 8:00 on July 1, accounting for 3.12% of the circulation, with a value of approximately US$11.18 million;
Sui will unlock approximately 64.19 million SUI tokens at 8:00 on July 1, accounting for 2.65% of the circulation, worth approximately US$50.1 million;
Maverick Protocol will unlock approximately 36.4 million MAV tokens at 8:00 on July 1, accounting for 14.56% of the circulation, worth approximately US$9.25 million;
ZetaChain will unlock approximately 5.29 million ZETA tokens at 8:00 on July 1, accounting for 1.92% of the circulation, with a value of approximately US$4.16 million;
Acala will unlock approximately 27.43 million ACA tokens at 15:00 on July 1, accounting for 2.69% of the circulation, worth approximately US$1.8 million;
io.net will unlock approximately 7.5 million IO tokens at 21:00 on July 1, accounting for 7.89% of the circulation, with a value of approximately US$23.55 million;
Galxe will unlock approximately 3 million GAL tokens at 8:00 on July 5, accounting for 2.60% of the circulation, worth approximately $6.31 million;
Hashflow will unlock approximately 13.62 million HFT tokens at 8:00 on July 7, accounting for 3.28% of the circulation, worth approximately US$2.75 million;
Ethena will unlock approximately 14.89 million ENA tokens at 15:00 on July 7, accounting for 0.92% of the circulation, worth approximately US$7.26 million.
Voting Governance
The voting for Curve Finance's proposal to launch the first Tether-only liquidity pool ended on July 1. If passed, it will become the first aUSDT liquidity pool in the current DeFi market.
MerlinSwap Ecosystem DEX MerlinSwap released a proposal vote for the second phase of airdrop token allocation, which will end on July 1. The proposal includes using 2% of the total supply of tokens for reward airdrops, of which 20% of the airdrop rewards will be allocated to MerlinSwap IDO participants, 20% of the airdrop rewards will be allocated to users who purchase more than $100 of MP tokens (evenly distributed), and 60% will be allocated to esMP supporters (esMP Solid holders, esMP pledgers, and esMP Boosters). In addition, the weight of esMP Stakers and esMP Boosters in the airdrop allocation will be slightly higher than that of esMP Solid holders.
The Cronos community's proposal to "destroy 50 million CROs for the second time on the Cronos POS chain" will end on July 2. Cronos has already destroyed 50 million CROs. If the proposal is passed, a total of 100 million CROs will be permanently destroyed from the circulating supply.
Nym node operators have until July 5 to vote on how mixmining rewards should be distributed between tiers.
