Take a look at the most noteworthy industry events and important project developments in the coming week.
- The sentencing hearing for Binance founder CZ was held on April 30.
- The Hong Kong Stock Exchange will open Bitcoin and Ethereum spot ETF trading on April 30.
- ETHGlobal Sydney was held from May 3rd to 5th in Sydney, Australia.
- Renzo token REZ will be open for airdrop claims and trading.
- Memecoin tokens worth approximately $150 million MEME were unlocked on May 3.
This week (April 22-April 29, 2024), Web3 events are not to be missed. Here is a preview of this week’s highlights:
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important events
The sentencing hearing of Binance founder and former CEO CZ was postponed from February 24 to April 30 in the Seattle federal court. Previously, the U.S. prosecutor said on April 23 that CZ should be sentenced to 36 months in prison. The federal sentencing standards set the maximum sentence for CZ's crime at 18 months. CZ's defense attorney sought a suspended sentence, and the final result is still pending a subsequent trial.
Six virtual asset spot ETFs from China Asset Management (Hong Kong), Bosera International, and Harvest International will be listed and traded on the Hong Kong Stock Exchange on April 30. The three institutions have certain differences in product fees, transactions, issuance, virtual asset platforms, etc. Each has a Bitcoin spot ETF and an Ethereum spot ETF. The investment goal of the above products is to closely follow the performance of Bitcoin/Ethereum, and the performance of the CME CF Bitcoin Index or the Ethereum Index (Asia Pacific Closing Price) is used to measure the investment results. In terms of management fees, the annual management fee of Harvest Bitcoin and Ethereum spot ETF is 0.3% of the net asset value, and the management fee is waived in the first 6 months after the listing date; the management fee of Bosera's Bitcoin and Ethereum spot ETF is 0.6% of the net asset value, and the fee is temporarily waived in the first 4 months after the listing date; the management fee of China Asset Management (Hong Kong) for such ETFs is 0.99%.
The deadline for submitting withdrawal requests for BlockFi's initial bankruptcy assets is 7:59 on April 29. In addition, requests for user identity verification information must be submitted before 7:59 on May 4.
Project Progress
In terms of project tokens and airdrops, noteworthy developments include:
The decentralized lending protocol ZeroLend hinted that it will launch the token ZERO on April 29. ZeroLend completed a $3 million seed round of financing in February this year. Aevo launched the ZeroLend token ZERO in pre-market trading on April 18.
The issuance of Notcoin token NOT has been postponed to the end of April, originally planned to be issued on April 20.
Solana ecosystem liquidity management protocol Kamino will launch the token KMNO on April 30, with a total of 10 billion tokens, of which 35% will be allocated to the community and donations, 10% to liquidity and treasury, 20% to core contributors, and 35% to major consultants. The initial circulation will be 1 billion tokens.
Ethereum re-staking protocol Renzo ezPoints Season 1 reward airdrop REZ will be open for claiming at 19:00 on April 30. Users have 30 days to claim, and unclaimed tokens will be added to the airdrop of Season 2. Previously, in Renzo's updated token economic model, REZ's total community token allocation increased from 30% to 32%, and the total airdrop allocation increased from 10% to 12% (the total supply in Season 1 increased from 5% to 7%, and the additional 2% was borne by liquidity and the foundation). The minimum qualification for each wallet airdrop is 360 ezPoints, and most airdrop addresses can be fully unlocked after TGE. Wallets with more than 500,000 ezPoints will unlock 50% at TGE, and the rest will be unlocked linearly within 3 months.
NFT lending protocol NFTfi will open token claims at 20:30 on April 30 and will last for 41 days until June 10. Unclaimed tokens will be returned to the community and reward distribution and used for future rewards.
The social platform UXLINK will launch the first season of airdrop activities, and it is expected that the airdrop will cover 10% of active users. The airdrop will be issued through NFT certificates, and it is expected to start minting on May 3. Users can obtain NFTs by inviting friends, interacting on the chain, and connecting wallet assets.
The Avail token airdrop verification date lasts until May 5th, and the Avail token airdrop plan will distribute a total of 600 million AVAIL tokens to 354,605 wallet addresses.
The first community points event of the decentralized AI computing network Apus Network, "Apus AI Art & GPU Campaign", is open until May 5. The event uses the Galxe platform to accumulate points. Previously, Apus Network was selected as a Foresight X third-phase accelerator AI track project in March 2024, and no other financing information has been disclosed.
Network upgrade:
Ethereum's second-layer network Scroll will undergo a Bernoulli mainnet upgrade at 10:00 on April 29, introducing EIP-4844 data blobs for L1 data availability and SHA2-256 precompilation support.
Web3 social platform friend.tech released version v2 on April 29.
The OP_CAT protocol is expected to be launched on the Bitcoin testnet Signet on April 30, which will allow developers to build OP_CAT applications using CatVM and test them in real time on the official testnet.
Tanssi Network launched the "Let's Forkin' Dance" incentive testnet event on April 30. Tanssi will allocate 1% of tokens for this incentive.
The blockchain game Illuvium Private Beta 4 is scheduled to start on April 30 and last until May 28.
dYdX Chain will upgrade to v4.1.0 at block 14,404,200, which is expected to be at 20:30 Beijing time on April 29. dYdX Foundation stated that the software upgrade was implemented in accordance with the DIP 53 proposal passed on April 26, reminding all validators and traders to make corresponding preparations to avoid possible interruptions during the upgrade process.
Bitcoin Layer 2 network BOB postponed the mainnet launch to May 1 to accommodate additional testing and auditing.
Shiba Inu's L2 solution Shibarium network will undergo a hard fork on May 2. The upgrade aims to increase network speed and reduce costs. Officials said that Shibarium's transaction fees will be reduced to 0.0000219 BONE (about 0.00001 US dollars).
This week’s exchange developments include:
Crypto.com’s app launch in South Korea, which was originally scheduled for April 29, has been postponed .
OKX shut down its services in India and asked Indian users to close their accounts and redeem their funds by April 30.
Upcoming Events
The application deadline for Binance Labs Incubation S7 has been extended to 7:59 am Beijing time on May 1.
FarCon 2024 , the Farcaster Developer Conference, was held in Venice Beach, Los Angeles, USA from May 1st to 5th. Key events included major official events such as the Farcaster Summit, FarHack Hackathon, Farcaster Creator Economy Summit, Farconcert Concert, and dozens of peripheral activities.
ETHGlobal Sydney will be held in Sydney, Australia from May 3 to 5, with Pragma Sydney taking place on May 2, 2024 in Sydney, Australia.
Token Unlock
According to Token Unlocks data, this week, MEME, OP and DYDX will have a one-time large-scale token unlocking, with a total release value of over US$300 million, including:
- Memecoin token MEME will unlock about 5.31 billion tokens at 15:30 on May 3, worth about $150 million, accounting for 31.94% of the circulation;
- dYdX token DYDX will unlock approximately 33.33 million tokens at 8:00 on May 1, worth approximately US$71 million, accounting for 10.72% of the circulation;
- Optimism token OP will unlock about 24.16 million tokens at 12:00 on April 29, worth about 56 million US dollars, accounting for 2.31% of the circulation;
- Ethena token ENA will unlock about 33.33 million tokens at 7:00 on May 2, worth about $44 million, accounting for 3.76% of the circulation;
- Echelon Prime token PRIME will unlock about 1.66 million tokens at 8:00 on April 30, worth about 30 million US dollars, accounting for 4.43% of the circulation;
- Galxe token GAL will unlock about 5.18 million tokens at 8:00 on May 5, worth about 23.5 million US dollars, accounting for 5.76% of the circulation;
Voting Governance
Voting on the proposal to deploy Uniswap V3 on the Taiko mainnet is open until April 29th.
The governance vote for Ambire wallet to add Scroll zkEVM will close on April 30.
The ApeCoin DAO community's "NFT Launchpad supported by APE tokens" proposal voting will end on May 2. The proposal states that the main goal is to establish an NFT Launchpad, using APE tokens to mint NFTs on the ERC-20 network, and provide creators with a platform for minting, displaying, and trading NFTs.
