News Preview:
- Sky Protocol will raise the Dai Savings Rate (DSR), Stability Savings Rate (SSR), and various vault type stability fees on December 9;
- Microsoft will consider a proposal to "evaluate investing in Bitcoin" at its annual shareholder meeting on December 10;
- Projects such as Movement, Magic Eden, U2U Network, KIP Protocol, and Suilend will hold token generation events (TGEs);
- The city of Vancouver is considering incorporating Bitcoin into its municipal financial system, with a related proposal to be reviewed by the city council on December 11;
- Cardano (ADA) will unlock approximately 18.53 million tokens at 8 AM Beijing time on December 11, accounting for 0.05% of the current circulating supply, valued at around $22 million;
- Aptos (APT) will unlock approximately 11.31 million tokens at 12 AM Beijing time on December 12, accounting for 2.11% of the current circulating supply, valued at around $160 million;
- The new FASB accounting standard for Bitcoin fair value will be officially adopted by enterprises starting in fiscal years after December 15.
December 9
Exchanges:
OKX will list MOVE (Movement) spot on December 9
OKX will list MOVE (Movement), with the following schedule:
•Deposit opening: 2:00 PM (UTC+8) on December 4
•Batch auction: 7:00 PM to 8:00 PM (UTC+8) on December 9
•Spot trading open: 8:00 PM (UTC+8) on December 9
•Withdrawal open: 6:00 PM (UTC+8) on December 10
The Movement Network is a community-first blockchain that provides exceptional TPS performance through Move language, instant finality, instant native access to massive liquidity, and modular customization.
Binance Finance has launched on-chain earning, allowing users to participate in various on-chain protocols and earn yields through their Binance accounts. The first product is Babylon Bitcoin staking, where users can stake Bitcoin to the Babylon protocol and earn on-chain yields.
Subscription will open at 2:00 PM (UTC+8) on December 9, 2024, with a limit of 1,000 BTC, on a first-come, first-served basis. The minimum subscription amount is 0.05 BTC, and the maximum is 5 BTC. Please note that the on-chain earning page will go live at 12:00 PM (UTC+8) on December 9, 2024.
Project Dynamics:
Sky Protocol (formerly MakerDAO) announced on the X platform that the following parameter changes will be implemented on December 9 at 5:24 AM (UTC+8) after the latest executive vote was approved.
Savings Rate Updates:
- The Sky Savings Rate (SSR) will be increased to 12.5%, and the Dai Savings Rate (DSR) will be increased to 11.5%.
Stability Fee Parameter Updates:
- The ETH stability fee will be increased: ETH-A to 12.75%, ETH-B to 13.25%, ETH-C to 12.5%.
- The WSTETH stability fee will be increased: WSTETH-A to 13.75%, WSTETH-B to 13.5%.
- The WBTC stability fee will be increased: WBTC-A to 16.25%, WBTC-B to 16.75%, WBTC-C to 16%.
Anzen Finance: ANZ token to be claimed on Fjord Foundry on December 9
Anzen Finance announced on the X platform that its $60 million FDV and $5.8 million market cap ANZ token sale on Fjord Foundry has been completed, and since all tokens have been sold, the ANZ token will be available for claiming on Fjord Foundry at 8:07 AM EST on December 9. Additionally, an airdrop distribution will be made to holders of z-points. The Anzen team and investors have a 6-month cliff, and as time passes, the majority of ANZ tokens will enter circulation as ecosystem rewards.
Token Unlocks:
World Mobile Token (WMTX) will unlock approximately 5 million tokens at 8 AM Beijing time on December 9, accounting for 0.00% of the current circulating supply, valued at around $2.7 million.
Community Events:
Donald Trump's son, Eric Trump, will deliver a speech at the Bitcoin MENA Summit in Abu Dhabi on December 9-10.
December 10
Exchanges:
Binance will delist GFT, IRIS, KEY, OAX, REN on December 10
Binance has decided to suspend trading and delist the following tokens on December 10, 2024, at 11:00 AM (UTC+8): Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN). Binance emphasized that it will regularly review the digital assets listed on the platform to ensure high-quality tokens. When a token no longer meets the listing standards or there are significant changes in the industry environment, Binance will conduct in-depth project reviews and may delist them.
Binance will enforce the Self-Trade Prevention (STP) function for all Binance Futures users starting at 2:00 PM (UTC+8) on December 10, 2024. This update will cover spot, leverage, and futures trading on the Binance platform.
Project Dynamics:
Microsoft's shareholder meeting on December 10 will consider a Bitcoin investment proposal
Microsoft will include a proposal to "evaluate investing in Bitcoin" as a voting item at its annual shareholder meeting on December 10. The proposal was submitted by the conservative think tank The National Center for Public Policy Research, but the board recommends shareholders vote against it, stating it is "unnecessary" and that the company's management has "carefully considered" the relevant issues. In a filing with the SEC, Microsoft said its global finance team regularly evaluates various investment assets, including cryptocurrencies, to achieve diversification and risk management. While Bitcoin has been considered in the past, the board has not made further investment decisions due to factors such as volatility.
The U2U token of the modular L1 network U2U Network will be listed on several exchanges, including Kucoin, MEXC, Gate.io, and BingX.
- Kucoin will open U2U token deposits on the Ethereum ERC20 network at 6:00 PM Beijing time on December 9, and the U2U/USDT trading pair will start at 6:00 PM Beijing time on December 10.
- MEXC will list the U2U/USDT trading pair on the Innovation Zone at 6:00 PM Beijing time on December 10.
- Gate.io announced the listing of the U2U Network (U2U) Startup project, with only GT participation allowed. The subscription period is from 2:00 PM to 2:00 PM Beijing time on December 8-10; the U2U/USDT trading pair will start at 6:00 PM Beijing time on December 10.
- BingX will open U2U token deposits at 6:00 PM Beijing time on December 9, and trading will start at 6:00 PM Beijing time on December 10.
KIP Protocol announced its TGE on December 10, with node holders eligible for KIP airdrop
The decentralized AI underlying protocol KIP Protocol announced that the KIP token TGE will be held on December 10. KIP is a Web3 infrastructure built for AI App developers, model creators, and data owners, allowing the monetization of AI assets while fully preserving ownership. To date, KIP has implemented real-world use cases of DeAI in education, entertainment (AI Agent), biotechnology, government, and other fields, with total funding exceeding $10 million.
ME Foundation: ME token will undergo TGE at 22:00 on December 10
The ME Foundation announced that the ME token generation event (TGE) will take place at 22:00 (Beijing time) on December 10. According to information from the official Magic Eden Discord channel, users need to complete the wallet address setup (save and exit) before December 8, otherwise they will not be able to receive the token airdrop on December 10.
Token Unlocking:
Bitget Token (BGB) will unlock about 5.38 million tokens at 8 AM Beijing time on December 10, accounting for 0.38% of the current circulating supply, worth about $14.4 million
Staika (STIK) will unlock about 1.5 million tokens at 8 AM Beijing time on December 10, accounting for 0.00% of the current circulating supply, worth about $2.2 million
December 11
Policy and Regulation:
Against the backdrop of Bitcoin reaching a new all-time high of over $10,000, Vancouver is considering incorporating Bitcoin into the city's financial system. The Vancouver City Council will consider a motion proposed by Mayor Ken Sim on December 11, titled "Protecting the City's Purchasing Power through Financial Reserve Diversification - Building a Bitcoin-Friendly City".
The U.S. Senate Banking Committee plans to vote on December 11 on whether to renominate Caroline Crenshaw, a commissioner of the U.S. Securities and Exchange Commission and a crypto skeptic. Several crypto industry executives have expressed disappointment at the prospect of her reappointment, as Crenshaw is one of the two SEC commissioners who have opposed the approval of a spot Bitcoin ETF. According to Bloomberg ETF analyst James Seyffart, Crenshaw is not only an "ally" of current SEC Chair Gary Gensler, but is also "more strongly opposed to cryptocurrencies" than Gensler himself.
Exchanges:
Binance will remove BAND/BTC, AVA/BTC and other leverage trading pairs on December 11
Binance announced that it will remove the following leverage trading pairs on December 11, 2024 at 14:00 (UTC+8):
•Cross Margin: BAND/BTC, GTC/BTC
•Isolated Margin: AVA/BTC, BAND/BTC, GTC/BTC, HIGH/BTC, PERP/BTC, STPT/BTC
Project Dynamics:
OP Governance Season 6 will end on December 11
Optimism's OP Governance Season 6, which started on June 27, will continue until December 11. The theme of this season is "Optimizing Support for Superchains". The governance season aims to advance the decentralization process, attract more public chains to join the Superchains, and promote the growth of Superchains application developers. Through these measures, Optimism is committed to strengthening the scalability and diversity of its blockchain ecosystem.
Token Unlocking:
Cardano (ADA) will unlock about 18.53 million tokens at 8 AM Beijing time on December 11, accounting for 0.05% of the current circulating supply, worth about $22 million
Ethena (ENA) will unlock about 12.86 million tokens at 3 PM Beijing time on December 11, accounting for 0.44% of the current circulating supply, worth about $12.9 million
io.net (IO) will unlock about 2.11 million tokens at 8 PM Beijing time on December 11, accounting for 1.68% of the current circulating supply, worth about $7.5 million
Eigenlayer (EIGEN) will unlock about 1.29 million tokens at 3 AM Beijing time on December 11, accounting for 0.61% of the current circulating supply, worth about $5.9 million
Moonbeam (GLMR) will unlock about 3.04 million tokens at 8 AM Beijing time on December 11, accounting for 0.33% of the current circulating supply, worth about $1.1 million
December 12
Exchanges:
Members of the Korea Digital Asset Exchange Association (DAXA) will terminate trading support for Radiant Capital (RDNT). Due to the project foundation's failure to submit an explanation for the designated stock trading warning, and after reviewing the losses caused by security incidents and the foundation's public stance, it was determined that the project does not meet the standards for maintaining trading support. Bithumb will end trading support for RDNT at 15:00 local time on December 12, 2024. The Korea Digital Asset Exchange Association (DAXA) is composed of the 5 major crypto exchanges in Korea: Upbit, Bithumb, Coinone, Korbit, and Gopax.
Project Dynamics:
aelf's first halving will take place on December 12, with block rewards reduced to 0.0625 ELF
AI-enhanced Layer 1 public chain aelf announced that its first halving will take place at 15:30 Beijing time on December 12, expected to occur at mainnet block height 246,500,000. Since the mainnet launch in 2020, aelf has been running stably for four years. aelf COO Brian Liang stated that this halving represents not only a reduction in block rewards, but also the continued evolution of aelf as a sustainable and innovative blockchain ecosystem. According to the aelf whitepaper, the network allocates 12% of ELF tokens for block rewards, with halving every four years. After the halving, the block reward will decrease from 0.125 ELF to 0.0625 ELF.
Eigen Labs plans to launch the upgraded Rewards v2, aiming to bring greater flexibility, efficiency, and customization to the rewards in the EigenLayer ecosystem. The testnet launch will be deployed on the Holesky testnet on December 12 and will be deployed on the mainnet in January. This proposed upgrade is also the first EigenLayer Improvement Proposal (ELIP) to use the EigenLayer governance process (EigenGov) recently announced by the Eigen Foundation. The Rewards v2 upgrade proposal expands the platform's reward functionality and introduces several features: Operator-oriented rewards: AVS can reward operators based on performance or custom logic. Variable operator fees: Operators can set their own fees based on AVS, providing economic flexibility and attracting diverse participation. Batch reward claiming: Stakers and Operators can claim multiple rewards in a single transaction, reducing gas costs.
Suilend announces the official launch of its SEND token on December 12
Suilend, a lending protocol on the Sui ecosystem, announced that its token SEND will be officially launched on December 12, and the checker distribution is now live. According to the official information, the SEND token distribution is as follows:
•Early users: Users before the launch of Suilend Points in May 2024 will receive 2% of SEND.
•Suilend Points: 18% of the total SEND.
•Rootlets: Distributed in three airdrops, totaling 3.333%, with 1.111% per airdrop. The first airdrop will be available for claiming at launch.
•Capsule NFTs: 0.3%, distributed according to rarity (0.1% for common, rare, and legendary each).
•Bluefin League holders: Receive 0.05% of SEND.
•SEND-PERP traders on Bluefin: Receive 0.125% of SEND.
•Ecosystem NFTs and MEMECOINS: Fixed distribution by address.
Users can check their airdrop eligibility and prepare for the claim through the official website.
Token Unlocking:
Aptos (APT) will unlock about 11.31 million tokens at 12 AM Beijing time on December 12, accounting for 2.11% of the current circulating supply, worth about $160 million.
Fusionist (ACE) will unlock about 850,000 tokens at 8:00 AM Beijing time on December 12, which is 2.01% of the current circulating supply and worth about $2.9 million
Aurora (AURORA) will unlock about 5.33 million tokens at 8:00 AM Beijing time on December 12, which is 0.96% of the current circulating supply and worth about $1.5 million
December 13
Policy and Regulation:
The National Intellectual Property Administration has released the "Guidelines for Patent Applications Related to Artificial Intelligence (Draft for Comments)" and is seeking public comments. The guidelines aim to help patent applicants better understand the patent examination policies in the field of artificial intelligence, improve the quality of applications, and address the hot legal issues of concern to innovation entities. The deadline for submitting comments is December 13, 2024, and the public can submit comments via email, fax or mail.
Exchanges:
Binance will support the Horizen (ZEN) network upgrade on December 13
Binance plans to temporarily suspend token deposits and withdrawals for the Horizen (ZEN) network at 01:00 UTC+8 on December 13, 2024 to support its network upgrade. This is to provide users with a quality experience. The project will conduct the network upgrade at block height 1,679,880 (estimated to be 02:00 UTC+8 on December 13, 2024).
December 14
None
December 15
Policy and Regulation:
According to the new rule on fair value accounting for Bitcoin issued by the Financial Accounting Standards Board (FASB), companies must officially adopt the fair value accounting for Bitcoin starting from fiscal years after December 15. This rule change means that companies like MicroStrategy, Tesla, and Block will be able to record the high and low points of the value of their cryptocurrency holdings. Under the new rules, companies holding Bitcoin or Ethereum will need to record these tokens at fair value, i.e. the latest market value. Changes in fair value will be directly recognized in net income.
Under the new rules, companies must record their cryptocurrency assets as a separate line item on the balance sheet. They also must disclose extensive information about their cryptocurrency holdings and any restrictions on those holdings in the footnotes of each reporting period. Annually, they must reconcile or disclose changes in the beginning and ending balances of their cryptocurrency assets by category.
Exchanges:
Binance will support the airdrop of MONKY to FLOKI holders, with the snapshot taken on December 15
Binance announced that it will support the airdrop of Wise Monkey (MONKY) to FLOKI (FLOKI) holders. The snapshot will be taken at 08:00 UTC+8 on December 15, 2024, and the airdrop ratio is 0.35 MONKY per 1 FLOKI held, distributed proportionally based on the holdings at the time of the snapshot.
Developer Events:
The new BNB Chain hackathon will open for project submissions on December 15
The new BNB Chain hackathon has been launched, with a prize pool of over $458,000, open to global Web3 developers. This event has no preset theme, and developers can explore areas such as stablecoins and DeFi, Telegram-based DApps, AI-driven DApps, and new narratives. The workshops started on November 26, and the project submission period is from December 15 to 24. The winners will be announced on January 16, 2025, and a one-month technical incubation period will follow. The final 6 winning projects will receive incubation support and an interview opportunity for the MVB program, as well as a chance to compete for exclusive rewards from sponsors like UXUY.
