News preview:
- White House officials and Democratic elites will hold a virtual roundtable with crypto industry executives next Monday to discuss digital asset policy
- OKX will launch DOGS/USDT pre-market trading at 11:00 on August 5, 2024
- FTX's hearing on settlement motion with the U.S. Commodity Futures Trading Commission (CFTC) will be held on August 6
- The European Securities and Markets Authority (ESMA) has launched a consultation on whether crypto assets should be included in investment products, with a deadline of August 7.
- Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 am Beijing time on August 9, accounting for 2.11% of the current circulation and worth approximately US$41.6 million.
- Xai (XAI) will unlock approximately 35.88 million tokens at 5:30 pm Beijing time on August 9, accounting for 6.9% of the current circulation and worth approximately US$9.2 million.
August 5
Policy supervision:
Politico Pro revealed that U.S. White House officials and Democratic elites will hold a virtual roundtable meeting with crypto industry executives next Monday to discuss digital asset policies. It is reported that U.S. Vice President Harris' campaign officials have been invited to attend the meeting. In addition, outgoing White House senior adviser Anita Dunn, billionaire Mark Cuban, New York Senator Kirsten Gillibrand, U.S. National Economic Council Director Lael Brainard, and White House Deputy Chief of Staff Bruce Reed also plan to attend the meeting.
Exchange:
OKX will launch pre-market trading of DOGS/USDT delivery contracts on August 5
OKX will launch DOGS/USDT pre-market trading (USDT margin delivery contract) at 11:00 on August 5, 2024.
OOY will stop supporting USDC deposits and withdrawals on the Optimism (Bridged) network on August 5
OOY will stop supporting USDC deposits and withdrawals on the Optimism (Bridged) network at 10:00 AM (UTC+8) on August 5, 2024. During this transition period, USDC deposits and withdrawals and USDC token trading services on other supported chains will not be affected.
ZKsync-powered cryptocurrency trading platform GRVT will launch public testing on August 5
GRVT, a cryptocurrency exchange powered by ZKsync and the first official Validium ZK chain from ZKsync, will launch a public testnet on August 5. The public test is designed to evaluate key account management and trading functions, as well as the user's native biometric self-hosted GRVT wallet. During the test period, users will have the opportunity to earn ZK tokens, points for future GRVT airdrops, and more by completing tasks.
Project dynamics:
Starknet v0.13.2 will be launched on the testnet on August 5 and will support parallel execution
Ethereum Layer 2 network Starknet announced on the X platform that Starknet v0.13.2 will be launched soon, with parallel execution capabilities, and the confirmation and packaging time of blocks will be greatly accelerated. For users, the most important effect is that the L2 transaction time is reduced to about 2 seconds. This version will be launched on the test network on August 5 and on the mainnet on August 26.
Reddit will stop supporting its Polygon-based Collectible Expressions feature on August 5
Reddit announced that it will stop supporting its Polygon-based Collectible Expressions feature on August 5, 2024. The feature provides animated expressions for users' Collectible Avatars NFTs. Reddit said that while these animations can still be seen in past comments, they will no longer be available in the future. Collectible Avatars is an NFT series based on the Polygon blockchain that has been popular since its launch. To date, more than 33 million Collectible Avatars have been minted, with a market value of $43 million. Reddit plans to continue supporting its NFT ecosystem through new community partnerships and more activities.
Ethereum privacy protocol DOP mainnet will be launched on August 5th Polygon
Ethereum privacy protocol Data Ownership Protocol (DOP) announced on X that its mainnet will be launched on Polygon on August 5, and the NFT Encryptions function will also be launched. The Data Ownership Protocol has previously launched a mainnet beta version, which allows cryptocurrency users to experience DOP technology on the Ethereum blockchain. It is reported that the protocol mainly provides encryption, sending, decryption and staking functions to protect user data privacy.
NFTfi Foundation: Earn Season 3 airdrop will end on August 5
NFT lending protocol NFTfi Foundation distributed a total of 30 million NFTFI in the Earn Season 3 airdrop, and eligible users have 42 days to claim their NFTF allocation. The airdrop claim period will end at 21:00 on August 5, 2024. Tokens that are not claimed after this will be returned to the NFTfi Foundation Treasury. Eligible users can unstake their NFTFI immediately, or keep staking to maintain the Earn Season 4 staking multiplier.
PancakeSwap airdrops 2.4 million ZK tokens to users until August 5
PancakeSwap will airdrop 2.452 million ZK tokens to reward its community and promote participation in zkSync PancakeSwap. The airdrop will last until 10:30 on August 5. Users need to connect their wallet to the PancakeSwap platform homepage and follow the pop-up notification instructions to claim ZK tokens. Unclaimed tokens will be reallocated to the PancakeSwap ecosystem for future development and community activities.
Token unlocking:
Mode (MODE) will unlock approximately 185.3 million tokens at 6:59 pm Beijing time on August 5, accounting for 14.25% of the current circulation, with a value of approximately US$3.7 million.
August 6
Exchange:
OOY will delist MSNUSDT perpetual contract on August 6
According to the OKX announcement, the MSNUSDT perpetual contract will be offline from 4:00 to 5:00 pm (UTC+8) on August 6, 2024, and the borrowing function of the MSN/USDT leveraged currency pair will be stopped at 2:00 pm (UTC+8) on July 30, 2024, and will be officially offline from 3:00 to 5:00 pm (UTC+8) on August 5, 2024.
Binance plans to upgrade spot and margin trading systems on August 6
According to the official announcement, Binance will upgrade its spot and margin trading systems at 15:00 (ET on August 6, 2024), and the upgrade is expected to take 10 minutes. During the upgrade, Binance spot and margin trading will not be affected. During the upgrade, App/Web/client users will not be able to view the transaction history of completed orders during the upgrade period; API users can still receive transaction history data.
FTX reaches $12.7 billion settlement with US CFTC, hearing to be held on August 6
Crypto exchage FTX and the U.S. Commodity Futures Trading Commission (CFTC) have agreed to a $12.7 billion settlement, which is currently awaiting approval from a bankruptcy judge. According to a court document filed in the U.S. Delaware Bankruptcy Court on July 12, the two parties have been in negotiations for the past few months. The CFTC filed a fraud lawsuit against FTX, former FTX CEO SBF, and its affiliate Alameda in 2022, alleging that their actions caused customers to lose $8 billion. The CFTC initially sought $52.2 billion in damages. As part of the settlement, the CFTC agreed that it would not receive any compensation as long as FTX complies with its restructuring plan. FTX will pay up to $12.7 billion in compensation to creditors, depending on available funds. A hearing on the settlement motion will be held on August 6. FTX filed for bankruptcy at the end of 2022. In May of this year, the FTX bankruptcy administrator announced a restructuring plan, and creditors will receive full cash repayment. Under the plan, creditors with claims of less than $50,000 will be eligible for 118% compensation within 60 days of court approval.
Token unlocking:
Heroes of Mavia (MAVIA) will unlock approximately 1.15 million tokens at 8:00 am Beijing time on August 6, accounting for 3.64% of the current circulation and worth approximately $1.75 million.
August 7
Policy supervision:
The European Securities and Markets Authority (ESMA), the EU securities regulator, is consulting the industry and experts on whether crypto assets should be included in investment products. This move is expected to open up a wider market for cryptocurrencies, far exceeding the market size of spot Bitcoin ETFs. The plan aims to expand the scope of application of UCITS (EU collective investment schemes in transferable securities), and the UCITS market size is as high as 12 trillion euros. If this move is implemented, it will be a key step in the mainstreaming of crypto assets in Europe. Financial regulatory expert Sean Tuffy called it a potential "game changer." ESMA's consultation deadline is August 7, and whether it will be approved remains to be seen. DLA Piper lawyer Andrea Pantaleo said that the impact of this move will far exceed that of US ETFs, because many fund sectors may invest part of their liquidity in crypto assets.
Project dynamics:
Gitcoin recently released the Gitcoin Grants 2024 strategy and update. Due to time constraints, only three rounds of GG competitions will be held in 2024. GG20 ended from April 23 to May 7; GG21 will be held from August 7 to 21, with a total of 10 community rounds, no open source software (OSS) rounds, and the first 5 community rounds will be matched with funds of US$125,000; GG22 is scheduled to start at the end of October, including 4 rounds of open source software OSS plans, with a matching fund pool of US$1 million.
MultiversX plans to release xExchange V3, public beta will be held from August 5 to 7
MultiversX, a highly scalable blockchain platform, plans to release xExchange V3. The public test will be conducted from August 5 to 7, and the official launch will take place shortly after the test. It said that it will use the new MultiversX Testing Fork technology instead of devnet/testnet, which was originally built to meet specific xExchange testing needs. Users will be able to test directly with their mainnet balances and positions without having to start from a new account.
Governance Voting:
DODO's proposal to "migrate 20 million DODO to the Base mainnet for future incentive governance" will start voting at 18:00 today and will end at 18:00 on August 7. The proposal points out that these tokens are intended to attract more users to use DODO as an aggregator and increase protocol revenue.
Token unlocking:
Hashflow (HFT) will unlock approximately 13.62 million tokens at 8:00 am Beijing time on August 7, accounting for 3.11% of the current circulation, with a value of approximately US$2.2 million.
DYDX (DYDX) will unlock approximately 1.55 million tokens at 0:00 Beijing time on August 7, accounting for 0.68% of the current circulation, with a value of approximately US$1.7 million.
August 8
Project dynamics:
CoinList announced that the public sale of Enso Finance tokens has started at 01:00 (UTC +8) on August 1, 2024 and will end at 01:00 (UTC +8) on August 8. The auction allocates 5 million ENSO tokens, accounting for 5% of the total supply. The starting price is $8 and the reserve price is $1.5. The token generation event (TGE) is expected to take place around September 15, 2024. EnsoFinance is the world's first intent engine that allows developers and users to express desired outcomes to build truly composable applications.
Ola plans to take a snapshot of Massive Season 2 token distribution on August 8
Layer 2 modular ZKVM project Ola announced on the X platform that the token distribution snapshot for the second season of its mobile ZKP verification network Massive will be conducted at 8 pm on August 8. The points accumulated in the second season will be recorded and used as the basis for the qualification and proportion of obtaining Ola tokens. It is reported that Ola issued an announcement to solicit proposals from the community on the token distribution method for the second season of Massive, and provided 10,000 OVP (Ola Community Points) as a reward.
Floki's chief developer B said in an interview that the animated cat brand Simon's Cat is working with Floki, BNB Chain and DWF Labs to launch Meme coins, and is expected to issue tokens using Floki's TokenFi Launchpad on August 8. Part of it will be airdropped to FLOKI token holders, and the other part will be distributed to users who trade Simon's Cat using the Floki trading robot. Meme coin Simon's Cat is officially linked to the mainstream Simon's Cat brand and is the first major cat Meme coin on the BNB chain, supported by the company's IP, which had revenue of $5.8 billion last year.
Simon's Cat is an animated series about a hungry house cat and his adventures. It has more than 20 million followers on YouTube, Facebook and Instagram, according to data. The series mainly consists of videos and memes about the cat.
August 9
Token unlocking:
Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 am Beijing time on August 9, accounting for 2.11% of the current circulation and worth approximately US$41.6 million.
Xai (XAI) will unlock approximately 35.88 million tokens at 5:30 pm Beijing time on August 9, accounting for 6.9% of the current circulation and worth approximately US$9.2 million.
August 10
Project dynamics:
General claims deadline for Terraform Labs bankruptcy case set at 5 a.m. on August 10
Terra officially stated on the X platform that the general claims deadline for the Chapter 11 bankruptcy cases of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) has been set as 05:00 Beijing time on August 10, 2024. If users have claims against TFL arising before January 21, 2024, or claims against TLL arising before July 1, 2024, please be sure to submit them before this general claims deadline to ensure that their claims can be considered.
August 11
Token unlocking:
Ethena (ENA) will unlock approximately 14.89 million tokens at 3:00 pm Beijing time on August 11, accounting for 0.82% of the current circulation and worth approximately US$5.2 million.
Moonbeam (GLMR) will unlock approximately 3.04 million tokens at 8:00 am Beijing time on August 11, accounting for 0.34% of the current circulation, with a value of approximately US$540,000.
Forta (FORT) will unlock about 50,000 tokens at 8:00 am Beijing time on August 11, accounting for 0.01% of the current circulation, with a value of about US$7,500
Specific time to be determined:
Policy supervision:
Bloomberg: Crypto industry executives plan to meet with White House advisers next week
Cryptocurrency industry executives plan to meet with White House aides and Rep. Ro Khanna next week to discuss concerns about digital assets and propose policy changes for the next administration, according to people familiar with the matter. Outgoing White House senior adviser Anita Dunn, national economic adviser Lael Brainard and deputy chief of staff Bruce Reed are expected to attend the meeting, according to the people, who asked not to be identified because the meeting is private. It would be at least the second recent meeting between the cryptocurrency industry and White House officials, following a roundtable in July that included executives from companies including Ripple and Coinbase Global Inc. as well as Dunn and Khanna, a California Democrat.
