News preview:
- Avalanche (AVAX) will unlock approximately 9.54 million tokens at 8:00 am Beijing time on August 20, accounting for 2.41% of the current circulation and worth approximately US$194 million.
- OKX and Bybit will officially launch the DOGS/USDT spot trading pair at 8:00 pm Beijing time on August 20, 2024
- The Jackson Hole Global Central Bank Annual Meeting hosted by the Kansas City Federal Reserve will be held from August 22 to 24; Federal Reserve Chairman Powell is scheduled to deliver a speech on the economic outlook at the meeting at 10:00 pm Beijing time on August 23
- Japan's parliament to hold a meeting on August 23 to discuss the central bank's interest rate hike
- Babylon: The first phase of the Bitcoin staking mainnet will be launched next week
- EigenLayer is testing support for permissionless tokens, this feature will be deployed to the mainnet next week
August 19
Policy supervision:
The Democratic National Convention will be held in Chicago from August 19 to 22
Exchange:
Upbit will suspend USDT trading on August 19 due to server maintenance
According to the Upbit announcement, in order to change the quotation unit and ensure the stability of the trading system, the USDT market server will be maintained from 13:00 to 15:00 (UTC+8) on August 19, which is expected to be about 2 hours. USDT market transactions will be suspended during the maintenance period.
Upbit plans to implement several new terms of service on August 19, adding new requirements for minimum deposit and withdrawal amounts of digital assets
According to the official announcement, Upbit has updated 34 terms of service, which will take effect on August 19, 2024. These include the cancellation of existing unfulfilled orders to protect users when changing services (but in this case, Upbit needs to notify users in advance); recharge services will no longer be provided for digital assets that are no longer supported for trading, and they will be treated as waiting for recharge. During the withdrawal support period, users can request the return of pending digital assets through the Upbit Customer Center; minimum deposit and withdrawal amounts for digital assets are newly specified on the website or service, and users must check the minimum deposit and withdrawal amounts and other requirements before recharging or withdrawing digital assets.
Project dynamics:
Bounce Brand will launch the ID0 of TNA Protocol (BN) on August 19
Decentralized auction platform Bounce Brand released the ID0 details of the TNA Protocol (BN) token. ID0 will be held on the Bounce Launchpad platform from 18:00 on August 19 to 18:00 on August 21, Beijing time, with a total supply of 4.2 million BN. ID0 is divided into three pools: AUCTION staking pool (Ethereum, supply 1.05 million BN, raising $12,500), fixed price public pool (Ethereum, supply 2.73 million BN, price 1 BN = $0.011905) and fixed price whitelist pool (Ethereum, supply 420,000 BN, price the same as the public pool). BN will unlock 10% at 19:00 on August 21, and then unlock 7.5% linearly every month for 12 months. In addition, Bounce Brand stated that BN will be launched on KuCoin. TNA Protocol is a Bitcoin asset and security protocol that integrates full-chain domain name asset issuance and DA solutions, and is supported by the Lightning Network and many second-layer solutions.
Flare Network: XRP testnet and FAssets public beta will be reset on August 19
Flare Network posted on X that its XRP testnet will be reset on August 19, and the FAssets public beta will also be reset. The team will resume testing by airdropping new TestXRP, official dashboard, FTestBTC support, and more updates.
Token unlocking:
Oasis Network (ROSE) will unlock approximately 151 million tokens at 0:00 Beijing time on August 19, accounting for 2.24% of the current circulation and worth approximately US$8.6 million.
Pixels (PIXEL) will unlock approximately 54.37 million tokens at 6:00 pm Beijing time on August 19, accounting for 7.05% of the current circulation and worth approximately US$7.4 million.
August 20
Exchange:
Binance.US will suspend services for users in Washington state on August 20
According to Binance.US' official tweet, due to regulatory developments in Washington State, Binance.US will suspend services to Washington State users on or after August 20, 2024, and close all accounts in the state. Binance.US stated that they no longer have a license to operate in the state and recommends that users direct questions or concerns to the Washington State Department of Financial Institutions.
As Binance regularly reviews its product offerings to focus on products that best meet user needs, Binance will discontinue support for all BIDR products and services according to the following schedule. Users are encouraged to trade BIDR assets for other available assets on Binance or convert BIDR to other cryptocurrencies on Binance Conver before BIDR services are terminated. Starting from 16:00 on August 20, 2024 (GMT+8), the remaining BIDR balance in the user's Binance account will be automatically converted to FDUSD based on the real-time exchange rate on xe.com.
Bybit will launch DOGS/USDT spot trading pair on August 20
OKX will launch DOGS/USDT spot trading pair on August 20
According to the announcement, both crypto exchage will officially launch the DOGS/USDT spot trading pair at 8 pm Beijing time on August 20, 2024.
Project dynamics:
Dogs official Telegram channel announced that DOGS token claims have been opened for Telegram wallets and CEX. Users will not receive tokens immediately. Tokens will be deposited into the airdrop claim account selected by the user before August 20. Earlier news , TON Ecological Meme Project DOGS released token economics, and the total supply of community token $DOGS is 550 billion. 81.5% of them are allocated to community users, 73% will be awarded to Telegram OG users, and the rest will be used to reward traders, sticker creators and future community members. In addition, 10% is allocated to the team and future development, most of which will be gradually released within 12 months. 8.5% is used for liquidity and related listing activities of CEX and DEX.
Simon’s Cat’s CAT Token to Launch on TokenFi Launchpad on August 20
Floki announced that it will launch the CAT token of the well-known cat brand Simon's Cat on TokenFi Launchpad on August 20. Simon's Cat tokens will be launched exclusively on the BNB chain with a total supply of 9 trillion $CAT. The token distribution includes: 30% to pre-sale investors, 18.5% for airdrops to $FLOKI holders, 1.5% for Floki Trading Bot airdrops, 10% to Simon's Cat Foundation, 5% for the treasury, 5% for community growth, 5% for market makers, and 25% for liquidity and locked on the day of launch. The pre-sale raised $4.25 million and the token listing market value is $25 million.
Bitdeer Technologies Group (NASDAQ: BTDR), the bitcoin mining company owned by Jihan Wu, announced the pricing of its $150 million public offering of 8.50% convertible senior notes. The offering is expected to be completed on August 20, 2024. The notes will mature in 2029, and holders can choose to convert the notes into cash or Class A common stock of the company. Bitdeer plans to use the proceeds from this offering for data center expansion, ASIC mining machine development, and other general corporate purposes. BTIG is the sole bookrunner for this offering.
Token unlocking:
Avalanche (AVAX) will unlock approximately 9.54 million tokens at 8:00 am Beijing time on August 20, accounting for 2.41% of the current circulation and worth approximately US$194 million.
August 21
Project dynamics:
Scroll will launch Darwin upgrade on August 21, which is expected to reduce gas fees by 34%
According to the official announcement of Scroll, Ethereum Layer2 network Scroll will launch the highly anticipated Darwin upgrade on August 21, 2024. The upgrade aims to reduce the Gas fees of multiple batches through a single aggregated proof, thereby reducing the Gas fees by 34%. The Darwin upgrade bundles multiple batches of proofs into a single validity proof, reducing the verification cost. This improvement will be achieved by introducing a new batch encoding format and bundling concept. The security of the upgrade has been audited by Trail of Bits.
August 22
Policy supervision:
The Jackson Hole Global Central Bank Annual Meeting hosted by the Kansas City Federal Reserve will be held from August 22 to 24
ING: The Fed may signal a rate cut at the Jackson Hole Symposium on August 22-24
ING Bank said that although a recession is unlikely, the dollar faces further declines as the Federal Reserve may cut interest rates due to weak upcoming U.S. economic data, which will reduce safe-haven inflows. Analyst Chris Turner said in a report that compared with a recession and the Fed not reacting, weak U.S. data and the Fed's reaction will lead to a steeper yield curve, while risk appetite rises and the dollar weakens. The Fed may signal a rate cut at the Jackson Hole Symposium on August 22-24. The U.S. dollar index DXY may test 102 in the coming weeks.
Exchange:
Coinbase International plans to launch ATOM, DYDX and OM perpetual futures contracts on August 22
Coinbase International Exchange and Coinbase Advanced will add support for Cosmos, dYdX, and MANTRA perpetual futures contracts. ATOM-PERP, DYDX-PERP, and OM-PERP markets will be available on or after 17:30 on August 22, 2024, Beijing time.
Project dynamics:
Terraform Labs bankruptcy case's preliminary crypto loss claims deadline is 5 a.m. on August 22
The deadline for filing preliminary crypto loss claims in the Chapter 11 bankruptcy case of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) is 5:00 PM EST on August 21, 2024 (5:00 AM BST on August 22, 2024). If the claim against TFL accrued before January 21, 2024, or the claim against TLL accrued before July 1, 2024, please submit your claim by this deadline. This deadline is only used for voting on the Chapter 11 plan.
Gitcoin Grants 21 will run until August 22
Gitcoin Grants 21 is now live and will last until 7:59 am Beijing time on August 22. The theme of this round of grants is to work with partners and enhance the capabilities of external communities. This round includes Celo and Arbitrum ecosystem rounds and 9 community rounds. Users no longer need to collect Passport stamps, and Gitcoin Grants Stack provides technical support.
Token unlocking:
SPACE ID (ID) will unlock approximately 18.49 million tokens at 8:00 a.m. Beijing time on August 22, accounting for 4.29% of the current circulation and worth approximately US$6.5 million.
August 23
Policy supervision:
Federal Reserve Chairman Powell is scheduled to speak on the economic outlook at 10:00 p.m. Beijing time on August 23, the first full day of the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming. The annual global central bank meeting provides Powell with an opportunity to make an updated assessment of the trajectory of the U.S. economy and the outlook for monetary policy between the Fed's July and September policy meetings. Last month, he said the Fed may consider cutting interest rates at its next meeting if inflation and the labor market continue to cool.
Japan's parliament to hold a meeting on August 23 to discuss the central bank's interest rate hike
Sources said that the Japanese parliament will hold a special meeting in the lower house committee on August 23 to discuss the Bank of Japan's interest rate hike. Bank of Japan Governor Kazuo Ueda will attend the parliamentary hearing at 9:30 a.m. local time on August 23 (8:30 a.m. Beijing time), and Japanese Finance Minister Shunichi Suzuki will also attend the meeting.
Token unlocking:
Galxe (GAL) will unlock approximately 586,000 tokens at 8:00 am Beijing time on August 23, accounting for 0.47% of the current circulation and worth approximately US$1.4 million.
1inch (1INCH) will unlock about 274,000 tokens at 8:00 am on August 23rd, Beijing time, accounting for 0.02% of the current circulation, with a value of about US$70,000.
August 24
None
August 25
Token unlocking:
Ethena (ENA) will unlock approximately 14.89 million tokens at 3:00 pm Beijing time on August 25, accounting for 0.82% of the current circulation and worth approximately US$4.5 million.
Acala (ACA) will unlock approximately 4.66 million tokens at 8:00 am Beijing time on August 25, accounting for 0.46% of the current circulation and worth approximately US$250,000
Forta (FORT) will unlock about 50,000 tokens at 8:00 am Beijing time on August 25, accounting for 0.01% of the current circulation, with a value of about $6,000
Specific time to be determined
Babylon: The first phase of the Bitcoin staking mainnet will be launched next week
Babylon said on the X platform that the first phase of the Bitcoin staking mainnet will be launched next week, and Bitcoin holders will be able to start locking BTC for staking.
Social protocol The Arena: Dynamic wallet integration is planned to be deployed next week
Avalanche ecosystem social protocol The Arena said on the X platform that the Dynamic Wallet integration is almost ready, has been successfully tested, and will be deployed for new users early next week, with a full migration for existing users planned for later this week.
Meme project Pacmoon announced on the X platform that the snapshot has been completed. PAC token holders during this snapshot must complete token destruction before September 13, 2024 to exchange for ARMY tokens later. However, since the snapshot has been completed, users who purchase PAC tokens from now on will not be able to exchange ARMY tokens through token destruction.
Pacmoon added that it will take a few days to ensure that the migration process goes smoothly, and the ARMY token is expected to be launched early next week.
EigenLayer is testing support for permissionless tokens, allowing any ERC-20 token to be added to the protocol as a re-pledgeable asset. Eigen Labs said this feature will be deployed to the mainnet next week, which will expand the range of assets that can provide security for decentralized networks and unlock the cryptoeconomic security of ERC-20 tokens. After completing initial testing on the testnet, EigenLayer will enter the mainnet phase, and user interface support is expected to be launched in late Q3. Earlier this year, Andreessen Horowitz invested $100 million in Eigen Labs, and the total asset value of the project has now exceeded $12 billion.
