Take a look at the most noteworthy industry events and important project developments in the coming week.
- KBW 2024 will be held in Seoul, South Korea from September 1 to 7.
- Trump's new book, "Save America," will be published on September 3.
- Polygon’s mainnet upgrade is scheduled for September 4, and MATIC will migrate to POL.
- The Flow mainnet will undergo the Crescendo upgrade on September 4th to achieve full EVM equivalence.
- IMX worth approximately $44.17 million will be unlocked on September 6.
This week (September 2 - August 8, 2024) Web3 events are not to be missed. The following is a preview of this week’s highlights:
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Important Events
Indian crypto trading platform WazirX plans to hold its first meeting on September 2 to discuss restructuring and moratorium applications. Previously, WazirX had submitted a moratorium application to the Singapore High Court. Moratorium is a form of legal protection provided by Singapore law that protects applicants from creditor enforcement, such as liquidation proceedings, security enforcement and other legal proceedings, which will be shelved until the moratorium expires. WazirX said that the moratorium is to ensure the possibility of restructuring and is in the interests of users.
Trump's new book, "Save America," will be published on September 3. The book will use the photo taken when he was assassinated as the cover and will be priced at $99.
Polygon's mainnet upgrade is scheduled for September 4, 2024, and after community approval, its native token will be converted from MATIC to POL. After the upgrade, POL will replace MATIC as the main token for gas fees and staking.
Project Progress
The Arbitrum liquidity incentive program launched by Synthetix will last until September 3. The program offers 2 million ARB rewards for 12 weeks, aiming to attract liquidity providers, stablecoin liquidity and derivatives trading activities, of which 1 million ARB will be used for LP incentives, 900,000 ARB will be used for transaction fee rebates, and 100,000 ARB will be used for stablecoin liquidity.
AO, a scalable blockchain network based on Arweave, will open AO minting rewards at 23:00 on September 4.
The TON Foundation announced that the sixth season of The Open League is scheduled to start on September 4.
PancakeSwap airdropped 2.4 million ZK tokens to the community, and the claim window was extended to 18:30 on September 4. At that time, unclaimed tokens will be returned to PancakeSwap for future development.
The Flow mainnet will be upgraded to Crescendo at 20:00 on September 4. Flow said that Crescendo will be the most important upgrade to the Flow network since Genesis. The upgrade includes full EVM equivalence for all developers on Flow and marks the maturity point of Cadence 1.0's Flow native programming environment. Full EVM equivalence means that any smart contract, protocol or tool running on the Ethereum mainnet will be able to run on Flow, similar to EVM L2. The network upgrade is estimated to take about 6 hours, during which time the Flow mainnet network will be in maintenance mode and will not process transactions.
THORChain will undergo a hard fork at 00:00 on September 5. Users do not need to take any action, but exchanges, wallets, and dApps must be prepared.
The application deadline for Optimism’s fifth round of retroactive public goods fundraising is September 5, which will reward 8 million OP tokens to OP Stack contributors between October 2023 and July 2024.
Season 2 of Mode, the L2 network built on the OP Stack, will last until September 6, 2024. The Season 2 airdrop will allocate 500 million MODE tokens (5% of the total supply), and up to 1 million OP tokens will be provided through various incentive activities.
Hyperlane, a cross-chain application building platform, said on X that the team behind the modular blockchain Nautilus Chain recently terminated its agreement with the infrastructure provider, causing the chain to stop and user funds to be trapped. Fortunately, the infrastructure provider has agreed to restart the chain for two weeks, until September 6, to give users time to make up their funds. Users need to withdraw their funds within the next 2 weeks, otherwise they may face the risk of permanent loss of the remaining funds on the Nautilus chain.
Nillion launched the Nillion Builder bounty program with a submission deadline of September 6. Bounty projects include building the Nada Playground web application, key proof of concept, launching the Blind AI application on the Nillion testnet, and developing the "Add Chain to Keplr Wallet" button npm package.
The second phase of the Eigen Foundation's first season EIGEN staking airdrop will be open until September 7, 2024, and the deadline for claiming the first season airdrop is September 8 at 14:59. The second phase marks the completion of the first season, and nearly 113 million EIGEN have been distributed. All first season users (including second phase users) will receive 100 EIGEN rewards, but users will not receive rewards twice.
Upcoming Events
Korea Blockchain Week (KBW) 2024 will be held in Seoul, South Korea from September 1st to 7th. The conference is an annual global blockchain and Web3 event founded and hosted by FACTBLOCK and co-hosted by Hashed. It will bring together blockchain enthusiasts, investors, organizations, and industry leaders, aiming to attract people who want to delve deeper into the cryptocurrency, blockchain, and Web3 industries.
Token Unlock
According to Token Unlocks data, IMX, TAIKO and MODE will have a one-time large-scale token unlocking this week, including:
Immutable (IMX) will unlock 32.47 million tokens at 8:00 on September 6, worth approximately $44.17 million, accounting for 2.06% of the circulation;
Taiko (TAIKO) will unlock 12 million tokens at 20:00 on September 5, worth approximately $19.32 million, accounting for 19.02% of the circulation;
Mode (MODE) will unlock 500 million tokens at 8:00 on September 6, worth about 6.24 million US dollars, accounting for 38.46% of the circulation;
Hashflow (HFT) will unlock 13.62 million tokens at 8:00 on September 7, worth approximately US$1.95 million, accounting for 3.06% of the circulation.
Proposal Voting
Starknet's test voting period for enabling the STRK staking function is from September 2 to September 4, and the voting period is from September 9 to September 13, 2024. Starknet said that by introducing the STRK staking function into the Starknet ecosystem, STRK holders will have the opportunity to comment on the proposed minting mechanism and its parameter modification conditions. Although the exact deployment schedule of the function has not yet been determined, the staking function is expected to be launched in October.
The snapshot vote on whether QuickSwap will expand its perpetual contract products to Ethereum L1 will start at 13:30 Beijing time on September 2 and end at 13:30 on September 6.
The vote to establish an alliance organization in Lido DAO will end at 2:00 on September 6. The proposal was made by MetaLeX, suggesting that the Lido Alliance be organized as the Lido DAO Adjacent Network Organization (BORG), which will be a member-free foundation designed to manage the assets and activities of the Lido Alliance in a transparent and standardized manner.
The vote in Lido DAO on the node operation status after CryptoManufaktur was acquired will end at 2:00 on September 6. The node operator status of CryptoManufaktur after Galaxy acquired CryptoManufaktur. The CryptoManufaktur team stated that the existing infrastructure will remain unchanged. After discussion, the Lido Node Operator Sub-Governance Group (LNOSG) proposed to allow Galaxy to continue to serve as a node operator and submitted this to the DAO vote.
