Take a look at the most noteworthy industry events and important project developments in the coming week.
- Ethereum spot ETF may start trading on Tuesday.
- The Avail DA mainnet will be launched on July 23.
- Bitcoin2024 Nashville will be held from July 25 to 27, and Trump will attend.
- Approximately $110 million worth of ALT will be unlocked on July 25th.
- EDCON 2024 will be held in Tokyo, Japan from July 26 to 30.
This week (July 12-July 28, 2024), Web3 events are not to be missed. Here is a preview of this week’s highlights:
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important events
The U.S. Securities and Exchange Commission (SEC) informed the issuer of the Ethereum spot ETF that the Ethereum spot ETF will begin trading on July 23. Sources said that the SEC had no further comments on the recently submitted S-1 document. Sources believe that the Ethereum spot ETF will take effect on Monday this week, and trading may begin on Tuesday this week. Currently, 9 Ethereum spot ETFs have announced their rates, and Franklin's rate is the lowest at 0.19% (0% before January 31, 2025 or before $10 billion). Among them, 5 Ethereum spot ETFs will be listed on the Chicago Board Options Exchange (Cboe), and Grayscale's Ethereum Trust Fund will be listed on the NYSE Arca.
The Hong Kong Stock Exchange will launch Asia's first Bitcoin inverse product on July 23. The full name is CSOP Bitcoin Futures Daily Inverse (-1x) Product (7376.HK), which directly invests in the nearest expiring monthly Bitcoin futures traded on the Chicago Mercantile Exchange. The trustee is HSBC Institutional Trust Services (Asia) Limited.
The Reserve Bank of New Zealand’s consultation on digital cash ended on July 26, with the document asking citizens of the country to respond to questions such as the design of digital cash, whether it should pay interest, and whether there should be holding restrictions.
Project Progress
The modular blockchain project Avail announced that "the mainnet is coming soon" and added "July 23", indicating that the Avail DA mainnet will be launched on July 23. In addition, Bybit announced that it will launch the Avail token AVAIL at 20:00 on July 23. Avail may launch the AVAIL token at the same time as the mainnet is launched.
The provisional list of LayerZero bounty hunters has been made public. Rewards will be distributed on July 23rd. Allocations are at the discretion of the LayerZero Foundation and are subject to change.
The second phase of the modular blockchain project Nubit Alpha test network "Light Node Quest" will last until July 24. Users can log in to the event interface and participate in the network light node operation to receive points.
The Genesis Epoch of Solana DeFi derivatives platform Zeta Markets will begin on July 25, with an incentive of 8 million ZEX. Staking ZEX before July 25 will qualify for the staking airdrop (20 million ZEX).
The public mainnet of the blockchain game Illuvium is scheduled to be released on July 25.
Ethereum re-staking protocol Renzo ezPoints Season 2 will last for three months until July 26 , and plans to distribute 5% of the token supply (500 million REZ), while Season 1 participants will receive an additional 10% bonus.
Upcoming Events
The seventh season of HackaTRON hosted by TRON DAO will be open for submissions from July 25 to October 8, 2024, with a pre-selection period from October 9 to 23, a judging and community voting period from October 24 to 31, and the winners will be announced on November 13.
Bitcoin2024 Nashville will be held at the Music City Center in Nashville, Tennessee from July 25 to 27, 2024, with the core focus entirely on Bitcoin. Trump will attend the conference and give a speech on the 27th. Sources speculate that Trump may make a landmark statement at the Bitcoin conference, planning to make Bitcoin a strategic reserve asset for the United States. In addition, US presidential candidate Robert F. Kennedy Jr. will also attend the Bitcoin2024 summit in Nashville, Tennessee from July 25 to 27 and deliver a keynote speech. According to FOX Business reporter Eleanor Terrett, Musk's private jet landed in Tennessee today, and he also changed the X platform avatar to the iconic "laser eye" picture of Bitcoin supporters. The market speculates that Musk will participate in the Bitcoin 2024 conference.
Foresight News has collected some of the surrounding activities of Bitcoin2024 Nashville, which can be viewed here :
EDCON 2024 was held in Tokyo, Japan from July 26 to 30. EDCON is an annual Ethereum community development conference that invites influential industry leaders and projects from around the world to participate and share information. The event includes 5 days of seminars, gatherings, and speeches by industry leaders.
Foresight News has compiled a list of EDCON 2024 side events, which can be viewed here .
Token Unlock
According to Token Unlocks data, ALT, YGG, and ENA will have a one-time large-scale unlock this week:
GAL will unlock approximately 586,000 tokens at 8:00 on July 24, accounting for 0.49% of the current circulation, with a value of approximately US$2.32 million;
ALT will unlock approximately 684 million tokens at 18:00 on July 25, accounting for 42.08% of the current circulation, with a value of approximately US$110 million;
YGG will unlock approximately 14.08 million tokens at 22:00 on July 27, accounting for 3.74% of the current circulation, with a value of approximately US$7.51 million;
AGIX will unlock approximately 8.45 million tokens at 8:00 on July 28, accounting for 1.33% of the current circulation, with a value of approximately US$5.27 million;
ENA will unlock approximately 14.89 million tokens at 16:00 on July 28, accounting for 0.87% of the current circulation, with a value of approximately US$7.48 million.
Voting Governance
The BNB Chain BEP-341 public vote ended on July 23. BEP-341 introduced two key parameters, including: 1. Continuous blocks: This parameter allows BSC validators to continuously generate a series of blocks of n time slots, thereby getting rid of the current fixed rotation system. This change is expected to significantly increase TPS; 2. Mitigating MEV abuse: The proposal includes modifications to the transaction fee distribution of SystemRewardContract. This adjustment is intended to make the maximum extractable value (MEV) abuse less likely.
The dYdX community initiated a vote for the v5.1.0 upgrade, and the voting deadline is 23:02 on July 23, 2024. The upgrade will include performance optimization, Slinky updates, and Vault UX improvements. If the proposal is passed, the software upgrade will be executed at block height 21,420,000, which is expected to be 22:35 on July 25.
The voting for the CoW DAO "Solver Reward Budget and CoW DAO Bond Pool Operation Update" proposal ended on July 24. The proposal suggests canceling the consistency reward for the Solver competition on the mainnet and replenishing the funds for the program by allocating COW tokens repurchased by the DAO based on product revenue. In addition, the proposal also proposes setting up a Solver payment treasury to allow Solvers who work in the CoW DAO bond pool for a long enough time to pay service fees to align their development with the goals and vision of the CoW DAO.
