News preview:
- Orderly Network releases TGE timeline update: airdrop claim and staking will start at 16:00 on August 26
- Coinbase will start offering 1:1 exchange service for Euro stablecoin EURC and Euro on August 28
- Starknet: Starknet v0.13.2 deployment is postponed to August 28
- Sui (SUI) will unlock approximately 64.19 million tokens at 8:00 am Beijing time on September 1, accounting for 2.47% of the current circulation, with a value of approximately US$65 million.
- Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 am on August 31, Beijing time, accounting for 2.64% of the current circulation and worth approximately US$50.5 million.
- ZetaChain (ZETA) will unlock approximately 53.89 million tokens at 8:00 am Beijing time on September 1, accounting for 15.71% of the current circulation and worth approximately US$33 million.
- FOMC voting members will speak next week, and the extent of the Fed's interest rate cut in September still depends on data
- Russia will implement the law on cross-border digital currency payments and the legalization of crypto mining on September 1
August 26
Exchange:
Binance will perform wallet maintenance on Telegram Open Network (TON) at 10:00 (ET) on August 26, 2024. To support this maintenance, Binance will suspend deposits and withdrawals for Telegram Open Network (TON) at 09:55 (ET) on August 26, 2024. The maintenance is expected to take 2 hours, and deposits and withdrawals will be automatically resumed after the maintenance is completed.
OKX plans to adjust some index components on August 26
In order to further improve the market liquidity and index stability of leverage, delivery, and perpetual business lines and prevent market risks, OKEx plans to adjust some index components from 5:00 pm to 8:00 pm (UTC+8) on August 26, 2024. The adjusted index will be calculated based on the price of the new component and the new weight corresponding to each component. It is reported that the indexes involved include BETH-USDT, BETH-ETH, BLUR-USD, and BLUR-USDT. OKX reminds that due to the recent market volatility, the adjustment of index components may cause the mark price of the index and the corresponding leverage and contract market to jump. After the gear rule adjustment, the maintenance margin rate of the user's position may increase. In order to prevent forced liquidation caused by rule adjustments, please reduce the actual leverage multiple in time by closing positions, reducing positions, and adding margin to control risks.
BitFlyer Completes Acquisition of FTX Japan and Will Change Its Name on August 26
bitFlyer Holdings, the parent company of Japanese crypto exchage bitFlyer, has completed the acquisition of FTX Japan, making it a wholly owned subsidiary. The subsidiary will be renamed on August 26 and will focus on providing cryptocurrency custody services to institutional investors under bitFlyer Holdings. Looking ahead, as Japan's cryptocurrency regulations improve, the subsidiary plans to launch a spot cryptocurrency ETF.
Upbit will suspend NEAR token deposits and withdrawals on August 26 to support network upgrades
Upbit announced that in order to cooperate with the NEAR protocol network upgrade, it will suspend NEAR deposit and withdrawal services from 12:00 (Korean time) on August 26, 2024. The resumption time will be notified separately after the stability of the network upgrade is confirmed.
Project dynamics:
Web3 liquidity provider Orderly Network released a TGE timeline update, and claims and staking will officially start at 16:00 on August 26, Beijing time. Airdrop claims will be made on the Ethereum mainnet (ERC20) at the address: 0xABD4C63d2616A5201454168269031355f4764337. Starting from 18:00 on August 26, Beijing time, various centralized exchanges (CEX) will launch the product. 8:00 on August 28, Beijing time: VALOR reward release, trading and market making rewards begin. It is reported that VALOR measures the user's ORDER staking based on the amount and duration, entitles the user to the corresponding share of the protocol treasury.
DOGS extends the airdrop claim period again, TGE will be held on August 26
The DOGS community posted on Telegram that as of press time, more than 8 million verified users have requested to deposit their DOGS directly into exchanges and Telegram wallets. Due to the new claiming options, the official decision was made to change the TGE date again. Here is the updated schedule:
- The claim window for exchanges and Telegram wallets will be open until 0:00 on August 24;
- Non-custodial wallet claims will be open at 16:00 on August 26;
- TGE and token launch will take place on August 26 at 20:00.
August 27
Project dynamics:
Dumpy.fun's new platform Squeezy.lol will be officially launched on August 27
Solana protocol Dumpy.fun has launched a new platform Squeezy.lol, which aims to reverse its original intention of short memecoin. Squeezy.lol will allow users to conduct reverse trades, which may trigger a short squeeze on highly short memecoin. Previously, the encrypted memecoin market has lost $13 billion since July and is currently worth about $40 billion. Dumpy.fun has entered public testing from the private beta stage, and users can start short memecoin on the platform, and Squeezy.lol will officially go live on August 27. This move may change the PvP nature of memecoin trading, similar to the short squeeze of the GameStop incident in 2021.
Due to an upcoming network upgrade, Circle will stop supporting USDC on the Flow (Cadence) blockchain at 3am ET on September 3, 2024. USDC minting services will continue until noon ET on August 27, 2024. Circle recommends that users holding USDC transfer it from Flow to other blockchains before September 3. After the September 3 deadline, Circle will freeze all USDC on Flow, take a snapshot of balances, and begin the manual redemption process on September 4. Eligible users must meet Circle's compliance and security requirements, have a user-controlled wallet, and include the wallet address in the snapshot.
Sharpe AI has completed the SAI Season 1 airdrop snapshot and will open airdrop eligibility inquiries on August 27
Sharpe AI posted on X that it has completed the SAI Season 1 airdrop snapshot and the airdrop qualification query portal will be open on August 27.
Token unlocking:
Yield Guild Games (YGG) will unlock approximately 14.08 million tokens at 10:00 pm Beijing time on August 27, accounting for 3.70% of the current circulation and worth approximately US$6.8 million.
August 28
Exchange:
Coinbase will start offering 1:1 exchange service for Euro stablecoin EURC and Euro on August 28
Coinbase will start offering 1:1 exchange services between the euro and the euro-pegged stablecoin EURC in supported regions on August 28. EURC complies with the EU's latest "Markets in Crypto Assets" (MiCA) regulations. The exchange will be conducted on the Coinbase Advanced platform and there is no fee. In addition, Coinbase will launch the EURC-USDC trading pair on August 29, while delisting the existing EURC-EUR and EURC-USD trading pairs.
Starknet: Starknet v0.13.2 deployment is postponed to August 28
Starknet announced on the X platform that in order to give RPC providers more time to upgrade, Starknet v0.13.2 will be delayed by 2 days. The testnet deployment time will be delayed from August 5 to August 7, and the mainnet will be delayed from August 26 to August 28. It is reported that Starknet v0.13.2 will support parallel execution functions , and the confirmation and packaging time of blocks will also be greatly accelerated. For users, the most important effect is that the L2 transaction time is reduced to about 2 seconds.
Project dynamics:
Muneeb Ali, co-founder of Bitcoin Layer2 network Stacks, tweeted that the specific timetable for the Nakamoto upgrade has been announced. The final code will be released to network operators on August 28, when the activation window will open. All tests must pass before the final binary is released, and the process is currently going smoothly. Network operators will upgrade during the 92nd stacking cycle. After successfully completing the handover of signers from the 92nd to the 93rd cycle, the core development team will select the final hard fork block number and the Nakamoto system will be officially launched. In addition, the release plan of sBTC is still expected to take place within about 4 weeks after Nakamoto goes online. Nakamoto is the most important upgrade of the Stacks project since its launch, and its complexity is comparable to Ethereum's transition from PoW to PoS. The first phase of the upgrade has been successfully completed, unlocking more than $1 billion in capital and locking it into the new system. With the release of the final binary on August 28, the core development team will optimize each step to ensure a smooth launch of Nakamoto.
BNB Chain holds “Become a Champion Builder” hackathon in Q3, top 10 will give demos on August 28
The "Become a Champion Builder" hackathon will be held in the third quarter of 2024, with a prize pool of more than $500,000. The time nodes are as follows: Workshop: July 23, 2024-August 08, 2024; Submission time: July 31, 2024-August 15, 2024; Top 10 demos: August 28, 2024; Winners announcement: September 2, 2024; Project incubation: September 2, 2024-October 2, 2024. Participating developers can leave a message in the official comment area of BNB Chain on the X platform.
Jupiter DAO Small Grants Proposal Voting Open Now, Ends on August 28
Jupiter said on the X platform that the Jupiter DAO small grant proposal has now opened for voting, with the main goal of funding the small grant system, and will end on August 28. In the proposal, the CWG proposed to allocate $150,000 to trial the new small grant system in about 30 grants for a period of 3-6 months.
Axelar (AXL) Mainnet will be upgraded on August 28 to enable Interchain Amplifier mainnet deployment
The Axelar mainnet is scheduled to undergo an upgrade around 22:00 on August 28, and the network is expected to be down for about 2 hours. This upgrade will enable the mainnet deployment of the Interchain Amplifier. During this period, the Axelar Network, Satellite, token transfers, and general messaging functions will not be available. It is understood that the Axelar Interchain Amplifier seamlessly connects a wide range of blockchain consensus engines and traditional off-chain systems, and greatly reduces the cost of developers. It can automatically connect to any type of blockchain, and new cross-chain connections are exposed through smart contracts rather than through the protocol layer.
Token unlocking:
SingularityNET (AGIX) will unlock approximately 8.32 million tokens at 8:00 a.m. Beijing time on August 28, accounting for 1.58% of the current circulation and worth approximately $4.3 million.
August 29
Exchange:
According to the official announcement, Coinbase International Exchange and Coinbase Advanced will add support for Render, Saga, and Threshold perpetual futures contracts. The RENDER-PERP, SAGA-PERP, and T-PERP markets will be open on or after 17:30 on August 29, 2024, Beijing time.
Project dynamics:
Ocean Protocol’s Ocean Node Incentive Program Delayed to August 29 Due to Backend Improvements
Decentralized data exchange protocol Ocean Protocol has postponed its expected Ocean Node Incentive Program. According to an official blog post, the launch of the program has been moved to August 29 to address "necessary backend updates" and ensure a fair experience for all participants. The decision was made after the Ocean team discovered and resolved several issues in the monitoring system that tracks node uptime and incentive eligibility. The Ocean team discovered that there was a logic flaw in the monitoring system responsible for tracking node performance, which is critical to ensuring the fairness of the program. According to the official post, the team quickly "resolved the bugs and fixed the logic errors found in the eligibility check." While resolving the backend issues, the Ocean team has made several improvements to its Ocean Nodes Dashboard. The dashboard update is designed to improve the user experience by providing users with more detailed, actionable data. The Ocean team noted that until they "push backend updates," the values in the "Reward Eligibility" column may still be inaccurate.
Klaytn and Finschia’s new brand Kaia will be launched on the mainnet on August 29
Finschia said that with the establishment of the Kaia DLT Foundation in the Dubai International Financial Center and the Abu Dhabi Global Market (ADGM), most of the preparations for the launch of the Kaia mainnet have been completed and will be launched on August 29, 2024. Earlier in late April, the Klaytn Foundation said that since the Klaytn/Finschia chain merger proposal "Project Dragon" was passed, the two teams have been working hard and published an article today to introduce the new brand Kaia. It is reported that Kaia is an open source, transparent and permissionless public chain suitable for everyone.
Token unlocking:
Tornado Cash (TORN) will unlock approximately 91,700 tokens at 11:30 am Beijing time on August 29, accounting for 2.41% of the current circulation and worth approximately $220,000
August 30
Exchange:
OOY will delist FITFI, GARI, XPR, AKITA, TAMA, WNCG spot trading pairs on August 30
The OUYI platform announced that it will officially delist the following trading pairs from 4:00 to 4:30 pm (UTC+8) on August 30, 2024: FITFI/USDT, GARI/USDT, XPR/USDT, AKITA/USDT, TAMA/USDT, WNCG/USDT. Please cancel your pending orders before delisting. If you do not cancel your orders in time, the system will automatically execute them. In addition, OUYI has suspended the deposit operation of the above currencies at 4:00 pm (UTC+8) on August 22, and withdrawals will be stopped at 4:00 pm (UTC+8) on November 30. Users need to deal with the relevant assets before this date to avoid losses.
Project dynamics:
FLOKI cancels Simon's Cat second pre-sale and will airdrop to FLOKI holders on August 30th
Floki Inu announced the cancellation of the second round of "Simon's Cat" pre-sale due to criminals using bots to manipulate the system. Although the pre-sale sold out in the first 12 hours, a large number of bot activities undermined the fair participation of legitimate users. The Floki team then tried to hold a second round of pre-sale for affected users, but was once again attacked more aggressively. Finally, it was decided to cancel all pre-sale plans and airdrop $CAT tokens to qualified Champion-level users as compensation. It is reported that this airdrop will be supported by Binance on August 30 .
GammaSwap will conduct GS token TGE on August 30, 2% of supply will be used for airdrop
Arbitrum Ecosystem DeFi structured product GammaSwap recently announced on X that it will launch LBP of its governance token GS on August 30th, local time, and will distribute airdrops later. According to its published token economics, the total supply of GS is 1.6 billion, of which 37% is allocated to the treasury, 23% to the core team, 17% to investors, 15% to liquidity mining and staking, LBP accounts for 5%, airdrops account for 2%, and 1% is allocated to consultants. Core team: 12 months cliff, then 24 months linear vesting; private investors: 12 months cliff, then 18 months linear vesting.
Saga: Vault 4 airdrop claim window has closed, distribution will be on August 30
Saga posted on X that the Vault 4 airdrop claim window is now closed and will be distributed on August 30.
Token unlocking:
Euler (EUL) will unlock approximately 45,600 tokens at 6:54 am Beijing time on August 30, accounting for 0.24% of the current circulation and worth approximately US$260,000
1inch (1INCH) will unlock about 64,000 tokens at 8:00 am on August 30th, Beijing time, accounting for 0.01% of the current circulation, with a value of about $18,000.
August 31
Policy supervision:
The Central Bank of Ghana (BoG) has released draft guidelines on digital assets while seeking feedback from the public and industry stakeholders on upcoming crypto regulations. According to the BoG, data collected over the past three years shows that interest in cryptocurrencies in Ghana has increased significantly. As a result, Ghana intends to implement laws targeting risks such as money laundering and terrorist financing, fraud, and take measures to protect consumer rights. The BoG has proposed an eight-pillar regulatory framework for cryptocurrencies, which mainly strengthens the registration and reporting requirements for cryptocurrency exchanges or virtual asset service providers (VASPs). If signed into law, the proposed regulations will require cryptocurrency exchanges to monitor and report suspicious transactions and comply with the FATF travel rule. In addition, the central bank plans to work with external stakeholders such as commercial banks and offshore regulators. Exchanges will also need to register with the BoG and undergo sandbox testing before being allowed to provide trading services in Ghana. The central bank is currently seeking suggestions from industry insiders, experts and the public until August 31.
Exchange:
Boshi HashKey Bitcoin ETF and Ethereum ETF management fee exemption will continue until August 31
According to the official website of the Hong Kong Securities and Futures Commission, Bosera Global Exchange Traded Fund (ETF) Open Fund Company announced that it will waive management fees for its sub-funds Bosera HashKey Bitcoin ETF and Bosera HashKey Ethereum ETF. This exemption will be effective from April 30, 2024 to August 31 of the same year.
Project dynamics:
Polygon Labs announced the launch of the 1 billion POL community grant program CGP, which is only for developers. In the first season, 35 million MATIC will be allocated to projects built on Polygon, and the application will end on August 31, 2024. Polygon Labs stated that according to the community consensus, a community treasury was created, which will unlock 1 billion POL in the next 10 years, about 100 million POL per year, all of which will belong to the builders.
Token unlocking:
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 am on August 31, Beijing time, accounting for 2.64% of the current circulation and worth approximately US$50.5 million.
Echelon Prime (PRIME) will unlock approximately 750,000 tokens at 8:00 am Beijing time on August 31, accounting for 1.68% of the current circulation and worth approximately US$5.4 million.
September 1
Policy supervision:
The Russian Duma passed a law in the second and third readings that will allow cross-border settlement and exchange transactions in digital currencies within the framework of the Experimental Legal Regime (EPR) from September 1, 2024. In addition , the Russian Duma also passed a law in the second and third readings that will legalize cryptocurrency mining in Russia from November. The law stipulates the procedure and conditions for conducting such activities. Russian legal entities and individual entrepreneurs listed in the register of the Ministry of Digital Development of the Russian Federation will be entitled to engage in crypto mining.
Project dynamics:
UniSat founder and CEO Lorenzo said on the X platform that rapid progress has been made in the implementation of smart contracts and cross-chain bridges. In terms of smart contracts, Fractal (Bitcoin expansion solution) launched OP_CAT in the testnet reset today and plans to activate it on the mainnet from September 1. Regarding cross-chain bridges, 3 to 5 methods of transferring assets from the Bitcoin mainnet to Fractal are being developed. And said there is a strong developer plan to promote the practical application of Bitcoin expansion. In the next few years, the Bitcoin system has four pillars: compatibility, composability, parallelism and scalability. Fractal is strengthening these four aspects in different ways.
In terms of compatibility, BRC-20, RUNE, and some other Bitcoin protocols will be natively supported, and a modular approach will be adopted to make them interoperable and compatible with Bitcoin. In terms of composability, advanced Bitcoin virtual machines will be gradually enabled to build modern applications within TapRoot (so that compatibility can be maintained at the blockchain level), and an off-chain execution model, brc20-swap (which may become Fractal Swap or PizzaSwap in the future) has also been tried. In terms of parallelism, the UTXO model and stateful transaction chains (tx-chains) enable the provision of locally executed services without interfering with other services, thereby achieving extremely high localization and efficiency without worrying about global status. In terms of scalability, the Bitcoin blockchain is regarded as the backbone of a new system that needs to build thousands of Fractal instances around it; Bitcoin as a blockchain only needs to exist; the scalability of the entire system is the key.
Token unlocking:
Sui (SUI) will unlock approximately 64.19 million tokens at 8:00 am Beijing time on September 1, accounting for 2.47% of the current circulation, with a value of approximately US$65 million.
ZetaChain (ZETA) will unlock approximately 53.89 million tokens at 8:00 am Beijing time on September 1, accounting for 15.71% of the current circulation and worth approximately US$33 million.
DYDX (DYDX) will unlock approximately 8.33 million tokens at 8:00 am Beijing time on September 1, accounting for 3.67% of the current circulation, with a value of approximately US$9.8 million.
Ethena (ENA) will unlock approximately 14.89 million tokens at 3:00 pm Beijing time on September 1, accounting for 0.82% of the current circulation, with a value of approximately US$5.4 million.
Manta Network (MANTA) will unlock approximately 1.87 million tokens at 7:59 am Beijing time on September 1, accounting for 0.50% of the current circulation and worth approximately US$1.5 million.
Forta (FORT) will unlock about 50,000 tokens at 8:00 am Beijing time on September 1, accounting for 0.01% of the current circulation, with a value of about $6,500
Specific time to be determined
Policy supervision:
Next week, FOMC voting members will speak and the number of initial jobless claims will be announced. The main events of concern include:
1. On Tuesday, the U.S. Conference Board Consumer Confidence Index for August;
2. On Wednesday, Australia’s July weighted CPI annual rate;
3. On Thursday, 2024 FOMC voting member and Atlanta Fed President Bospunk gave a speech on the economic outlook. The number of initial jobless claims in the United States for the week ending August 24;
4. On Friday, 2024 FOMC voting member and Atlanta Fed President Bospunk delivered a speech on monetary policy and economic outlook, and the U.S. core PCE price index annual and monthly rates and personal spending monthly rate in July.
Exchange:
WazirX co-founder: A complete plan for token solutions will be presented next week
Nischal Shetty, co-founder of WazirX, an Indian crypto trading platform, posted a security incident update on the X platform and said: “The question is whether we want to solve the problem quickly or continue to fight and drag this out for years. Those who have no vested interests will spread hatred and want you to undermine the quick solution we are working on. Some people who don’t have a WazirX account at all are trying to undermine the process of a quick solution by making up false stories and narratives. Every week, we bring more clarifications, and next week we will present a complete plan for the token solution.
Project dynamics:
CKB releases public lightning network Fiber Network light paper, which will be launched and tested next week
CKB released the next-generation public lightning network Fiber Network light paper. Fiber Network is a next-generation public lightning network built on Nervos CKB and off-chain channels, which can provide fast, low-cost and decentralized multi-currency payments and peer-to-peer transactions for RGB++ assets. At present, Fiber Network has completed the prototype development and realized the basic functions of creating, updating and closing channels between two nodes. It also verified the cross-chain function with the Bitcoin Lightning Network. It will be launched next week and start testing. CKB said that similar to the Bitcoin Lightning Network, Fiber Network, as a second-layer payment channel expansion solution, conducts transactions off-chain to increase transaction speed and reduce fees while maintaining the security and decentralization of the blockchain. Fiber Network supports multiple types of assets. In addition to CKB native tokens, any RGB++ assets can be paid on Fiber Network. The overall architecture of Fiber Network includes core modules such as off-chain payment channels, on-chain contracts, multi-hop routing and monitoring services.
