A look at the most noteworthy industry events and project updates to watch for in the coming week.
- Ripple's stablecoin RLUSD may be approved for launch on December 4.
- Cboe will launch the first cash-settled index options product related to spot Bitcoin on December 2.
- The privacy blockchain Namada will launch its mainnet on December 3.
- The Block and Foresight Ventures will host the Web3 summit "Emergence" at the Prague Congress Centre on December 5-6.
- The $518 million JTO unlock will take place on December 8.
This week (December 2 - December 8, 2024), don't miss the major Web3 events. Here's a preview of the exciting week ahead:
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Key Events
According to a report by FOX Business citing sources, the New York Department of Financial Services has indicated that it will approve Ripple's stablecoin RLUSD, and the company plans to launch the product on December 4. If approved, Ripple will be able to legally offer RLUSD to the public, making it a key participant in the regulated digital finance market in New York and the broader stablecoin ecosystem.
The Chicago Board Options Exchange (Cboe) will launch the first cash-settled index options product related to spot Bitcoin on December 2. The options will be based on the new Cboe Bitcoin US ETF Index and will be SEC-regulated. In addition to cash settlement, these index options will also offer European-style exercise.
The South African FSCA has not yet restored the license of the South African exchange Banxso, and a re-review is scheduled for December 4. Banxso's financial services provider license was temporarily revoked in October. The FSCA stated that Banxso used deep fake technology to create advertisements and employed aggressive sales tactics, promising unrealistic returns to customers, resulting in significant losses for many clients.
Project Updates
The registration deadline for the Movement's MoveDrop airdrop is December 2, 2024, at 20:00. Registered users will be able to check their MoveDrop eligibility and claim the airdrop after the upcoming TGE. Failure to register on time will result in the loss of the MoveDrop claim. The MoveDrop will distribute 1 billion MOVE tokens (10% of the total supply) to the community, including Road to Parthenon participants, Battle of Olympus winners, Gmovers, designated communities, and Movement testnet builders.
Anzen Finance, the issuer of the RWA stablecoin USDz, will hold a public sale of ANZ on Fjord Foundry and Starship on December 2, and the first-season community airdrop of Anzen will also take place.
The DAR token deposits for the Web3 gaming open infrastructure DAR Open Network will be suspended from December 2 to prepare for the launch of the D token.
The privacy blockchain Namada launched its mainnet on December 3. The Genesis (first phase) of the mainnet began on December 3, allowing users to stake NAM tokens to validators and vote on on-chain governance proposals.
The Impossible Cloud Network will open the whitelist node sale on December 3 and the public node sale on December 5.
OKX will delist the GFT perpetual contract on December 3 at 16:00 and the GFT/USDT leveraged trading pair on December 2.
The Base ecosystem AI agent Clanker will launch the user revenue sharing program on December 4. The official statement indicates that when Clanker deploys a token, a 1% fee Uniswap V3 pool will be launched on Base. Each time the token is traded, the 1% swap fee in the pool will be collected and distributed as rewards, with 60% going to the protocol (Clanker) and 40% to the requestor (the user who requested Clanker to deploy the token). For tokens deployed before November 14, 2024, the revenue share is 75% and 25%, respectively.
Gala Film, the film platform of the blockchain gaming studio Gala Games, will launch the FILM token on December 5. The FILM token is the utility token of the Gala Film ecosystem, which can be used to support pioneering films, fund film projects, and connect with creators.
The Web3 game distribution infrastructure MATR1X will release important news related to veMax on December 5, potentially hinting at the opening of MAX staking functionality.
The decentralized AI platform SingularityNET launched a $40,000 grant, with applications closing on December 8 at 20:00, seeking the development of a Cardano-based multi-party escrow (MPE) system to provide secure on-chain payments and flexible payment channels for AI service transactions.
Event Preview
The Solana Foundation-supported 2024 Taipei Blockchain Week (TBW 2024) hackathon began online on November 11 and will run until December 4.
The Solana-based decentralized exchange Jupiter announced that it will jointly host its first offline event in Hong Kong with ApePro on December 4 at 19:00. Jupiter co-founder Siong Ong will be in attendance.
India Blockchain Week will be held in Bangalore, India, from December 4 to December 5, 2024.
W3N 2024 will be held in Estonia from December 4 to December 5, 2024, focusing on Web3, AI, and digital art.
The Block and Foresight Ventures are collaborating to host the Web3 summit "Emergence" at the Prague Congress Centre from December 5 to 6. The summit will facilitate connections between technology and capital, building a bridge between Wall Street and the crypto space. The event will bring together representatives from various industries and chains to discuss topics such as ETFs and asset management, and the uncertainty around crypto regulations. Through the partnership with Foresight Ventures, Emergence will provide insights on driving the growth of cryptocurrencies in Asia and help bridge the gap between Eastern and Western capital and talent.
The parallel blockchain Monad will hold the second edition of the Madness competition in Seoul, South Korea, from December 6 to 8.
The IOV2055 Workshop: India Chapter will be held in Bangalore, India, on December 7, focusing on India's influence in the Asian Web3 industry.
Token Unlocks
According to Token Unlocks data, this week will see major one-time token unlocks for JTO, ADA, and ENA, totaling over $500 million in value:
Jito (JTO) will unlock 135 million tokens on December 8 at 0:00, worth approximately $518 million, representing 103.03% of the circulating supply;
Taiko (TAIKO) will unlock approximately 9.29 million tokens on December 5 at 20:00, worth around $20.9 million, representing 11.38% of the circulating supply;
Cardano (ADA) will unlock 18.53 million tokens on December 6 at 8:00, worth approximately $21.31 million, representing 0.05% of the circulating supply;
Ethena (ENA) will unlock 12.86 million tokens on December 4 at 15:00, worth approximately $10.61 million, representing 0.45% of the circulating supply.
Bitget Token (BGB) will unlock 5.38 million tokens worth approximately $8.6 million, accounting for 0.38% of the circulating supply, on December 10 at 8:00;
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens worth approximately $4.9 million, accounting for 0.69% of the circulating supply, on December 4 at 3:00;
Dora Factory (DORA) will unlock approximately 28.57 million tokens worth approximately $3.5 million, accounting for 2.86% of the circulating supply, on December 2 at 8:00;
Cetus Protocol (CETUS) will unlock approximately 8.33 million tokens worth approximately $3.1 million, accounting for 1.37% of the circulating supply, on December 6 at 8:00;
Everclear (NEXT) will unlock approximately 20.11 million tokens worth approximately $2.6 million, accounting for 18.82% of the circulating supply, on December 5 at 8:00;
Staika (STIK) will unlock approximately 1.57 million tokens worth approximately $2.4 million on December 4 at 8:00.
Delysium (AGI) will unlock approximately 8.57 million tokens worth approximately $2.1 million, accounting for 0.67% of the circulating supply, on December 5 at 8:00.
Proposal Voting
The ZKsync community has submitted [ZIP-002] proposal on-chain, which proposes to reduce the execution delay from 21 hours to 3 hours. The voting on ZIP-002 will begin on December 2 at 21:12. ZIP-002 aims to enhance the finality of transactions through the oversight of the newly formed council, while maintaining security.
The Aave community's proposal vote on the Aave instance strategy change will end on December 3, which proposes to abandon the Etherfi mainnet instance and reformulate the instance model within the Ethereum mainnet Aave ecosystem.
The ApeCoin DAO's proposal vote on establishing a dedicated media company, Bored Global, for the Bored Ape Yacht Club will end on December 5. The Bored Global application is a token-gated platform designed to cater to the BAYC club structure, and the requested amount is $862,500.
The Arbitrum DAO's proposal on allocating funds to design and operate a reporting and information function will end voting on December 7, to improve the transparency and efficiency of the DAO.
