A look at the most noteworthy industry events and project updates to watch for in the coming week.
- The Hong Kong FinTech Week will be held from October 28 to November 1.
- The Arena token ARENA, Magic Eden test token TestME, mETH Protocol governance token COOK, Divvy.Bet token DVY, and the Web3 reputation data platform Talent will be launched on October 29.
- The Celestia token TIA, worth around $900 million, will be unlocked on October 30.
- The Binance Blockchain Week will be held in Dubai from October 30 to 31, with CZ attending in a personal capacity.
- dYdX v3, OneKey Card, and the Sui ecosystem wallet Ethos Wallet will be shut down this week.
This week (October 28 - November 3, 2024), the Web3 major events are not to be missed. The following is a preview of the exciting events this week:
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Key Events
US President Biden will cast his early vote in the presidential election on Monday.
A public hearing on the zoning application for Revolve Labs' $60 million expansion of an AI data center is scheduled for October 29.
Former FTX engineering chief Nishad Singh will be sentenced on October 30, after previously requesting leniency from the judge.
Oklahoma will enact a law on November 1 that protects the rights to use cryptocurrency for purchases, self-custody, and mining.
Project Updates
All trading, oracle price updates, and fund settlements on dYdX V3 will cease on October 28 at 20:05. Users are advised to close positions and withdraw USDC from the dYdX v3 smart contracts. Users of dYdX Chain, dydx.trade, or v4 API will not be affected by this change.
The time lock for the Polygon zkEVM mainnet Beta upgrade has been triggered, and the lock-up period will end on October 28.
Sony's Layer2 project Soneium will launch the Soneium Minato dual upgrade (the latest version of the Optimism OP Stack) on October 28, which will include the Fjord update.
Parallel's decentralized AI interaction protocol Wayfinder will start its Alpha test on October 28.
The Grass Foundation announced that the first airdrop will begin on October 28 at 21:30. Users must have earned over 500 Grass points in any cycle before October 15 at 4:00 and linked their wallet on the Grass dashboard to be eligible for the GRASS token airdrop.
The Avalanche social protocol The Arena will launch the ARENA token on October 29.
The Jupiter LFG third-round candidate project Divvy.Bet will conduct its TGE on October 29, releasing the DVY token economics. The total supply of DVY is 1 billion, with 40% allocated to the community and ecosystem (staking and betting rewards).
The Magic Eden test token TestME will launch on October 29, with a claim period from October 29 to October 31.
The liquid staking protocol mETH Protocol (formerly Mantle LSP) will launch its governance token COOK on October 29. The token claim will be open on the Mantle Network before the token launch. Bybit and MEXC will also list COOK on October 29 at 18:00.
Stacks will undergo the Nakamoto upgrade, introducing Fast Blocks and Bitcoin finality, around October 29 (Bitcoin block height 867867).
Viction is expected to conduct a hard fork upgrade on October 29 at 16:00, increasing the total VIC supply from 100 million to 210 million, to be distributed over the next 16 years. Additionally, 20 million VIC will be released into circulation on October 29 to support the ecosystem's Q4 2024 launch.
The Web3 reputation data platform Talent Protocol announced that it will launch the TALENT token on Base on October 29 at 20:00. The TALENT token has a fixed total supply of 600 million, with an initial circulating supply of 175,775,000 (29%), previously priced at $0.065 in the community round.
The Base team, in collaboration with Optimism, plans to implement Fault Proofs on October 30, to decentralize the network and eliminate single-entity control. Fault Proofs are a mechanism for Ethereum Layer 2 networks that allows users to challenge potentially fraudulent or incorrect transactions, improving network security.
Binance will perform wallet maintenance on the BNB Beacon Chain (BEP2) on October 30 at 16:00. To support this maintenance, Binance will suspend BNB Beacon Chain (BEP2) deposits and withdrawals on October 30 at 15:55. The maintenance is expected to take 1 hour, after which the deposit and withdrawal services will be automatically resumed.
OneKey Card will gradually discontinue its services. In phase two (October 31, 2024), all cards will be automatically deleted by the system, and the card balances will be transferred to the user's OneKey Card wallet account, which can be withdrawn to an exchange account or Web3 address at any time. In phase three (January 31, 2025), the OneKey Card service will be completely discontinued.
The application deadline for Namada's validator node delegation is October 31. This program will delegate to up to 50 validators, who will receive a 6-month delegation from the Anoma Foundation to help decentralize, stabilize, and secure the network.
The Telegram and TON ecosystem application Tomarket plans to conduct the TGE for its TOMA token on October 31 at 23:59, using a tiered system to evaluate user activity and distribute the tokens.
The Aethir Foundation will increase ATH rewards from November 1 to June next year, with users able to earn an average of 100 ATH tokens per day (based on normal operating time and bandwidth) by connecting to each eligible Aethir Edge device on the network.
Ethos Wallet will shut down the Ethos Sui Wallet extension and mobile app, as well as EthosConnect and API for developers, on November 1. Users should immediately migrate to other wallets (such as the Sui Wallet built by Mysten Labs), and if they use zkLogin for login, they need to transfer their wallet assets. Ethos Wallet is building a software simulator (called CodeYam) to make it faster, easier to understand, test, and demonstrate changes to software application code.
Event Preview
The 9th Hong Kong FinTech Week organized by Invest Hong Kong will be held from October 28 to November 1, with the theme "Illuminating New Frontiers of FinTech". This year, Hong Kong FinTech Week has set eight thematic forums on frontier technologies and cross-industry connections, including the Global Forum, AI and Frontier Technologies, Blockchain and Digital Assets, Payment Tech and Financial Innovation, InsurTech, GreenTech and Social Responsibility, Wealth and Investment Tech.
In addition, Chainlink's annual Web3 conference SmartCon will be held in Hong Kong from October 30 to 31, focusing on topics such as tokenization transformation, financial market infrastructure, DeFi and traditional finance, and RWA.
TechCrunch Disrupt 2024 will be held in San Francisco from October 28 to 30.
The second application period for the Bitlayer Developer Accelerator Program, a Bitcoin-native second-layer project, will close on October 30.
Binance will host Binance Blockchain Week Dubai 2024 at the Coca-Cola Arena in Dubai from October 30 to 31, and CZ will participate in his personal capacity.
The 2nd annual TON conference The Gateway will be held in Dubai from November 1 to 2, 2024.
Blockchain Expo World will be held online on October 31, 2024.
Argent, a smart contract wallet, is launching a Telegram Accelerator program, with the application deadline on November 1. The official will fund 20 high-quality teams, each receiving $25,000 in seed funding, with the potential for up to $1 million in follow-on funding.
Animoca Brands will hold its inaugural "GEN3 Playground" event at K11 MUSEA in Hong Kong on November 2, 2024, in collaboration with OSL, Anime Foundation, Apeiron, and Bad Egg Co., where OSL will be the diamond sponsor providing digital asset experiences.
Token Unlocks
According to Token Unlocks data, this week will see large-scale one-time unlocks of tokens for TIA, SUI, and OP, totaling over $1 billion in value:
Celestia (TIA) will unlock 175 million tokens on October 30 at 22:00, worth about $900 million, accounting for 79.68% of the circulating supply;
Recommended reading: "Will the massive TIA unlock trigger market panic?"
Sui (SUI) will unlock 64.19 million tokens on November 1 at 8:00, worth about $112 million, accounting for 2.32% of the circulating supply;
Optimism (OP) will unlock 31.34 million tokens on October 31 at 8:00, worth about $50.15 million, accounting for 2.5% of the circulating supply;
Memecoin (MEME) will unlock 3.45 billion tokens on November 3 at 15:30, worth about $457.8 million, accounting for 11.92% of the circulating supply;
Immutable (IMX) will unlock 32.47 million tokens on November 1 at 8:00, worth about $43.52 million, accounting for 1.98% of the circulating supply.
Proposal Voting
Sky (formerly MakerDAO) will start voting on the core brand choice from October 28, and if approved, voting on multiple options will begin the week of November 4. Once the decision on the core brand direction is made, the next step will be to consider whether changes to the token economics are needed, and the subsequent steps for the Sky brand and SKY token (if the vote to refocus on the Maker brand is successful).
The voting on BEP 341 on the BNB Chain will end at 18:00 on October 28. BEP341 is an important proposal aimed at increasing the transaction processing capacity of the BNB Smart Chain (BSC) by changing the way validators generate blocks, allowing them to generate up to four consecutive blocks instead of just one per turn in the current system.
Across DAO has initiated a proposal seeking community approval to fix the total supply of the ACX token at 1 billion. If the proposal is approved and implemented, the ACX token contract owner will be set to 0x0 to prevent any future supply changes. The voting deadline is October 29. Previously, LayerZero CEO Bryan Pellegrino disclosed a vulnerability in the Across Protocol token contract that would allow Across to withdraw tokens from any wallet at any time.
