News preview:
Memecoin (MEME) will unlock about 5.31 billion tokens at 3:30 pm Beijing time on May 3, accounting for 31.94% of the circulation, worth about $150 million
DYDX (DYDX) will unlock approximately 33.33 million tokens at 8:00 am Beijing time on May 1, accounting for 10.72% of the circulation, worth approximately US$71 million.
Optimism (OP) will unlock approximately 24.16 million tokens at 12:00 noon Beijing time on April 29, accounting for 2.31% of the circulation, worth approximately US$56 million.
Hong Kong Bose HashKey, Huaxia, Harvest Bitcoin and Ethereum ETFs will be listed on the Hong Kong Stock Exchange from April 30
Binance to List Renzo (EZ) on April 30
The NFTFI airdrop claim portal will open on April 30 and will last for 41 days
Seattle court to sentence Zhao Changpeng on April 30
April 29th
Exchange:
Coinbase Derivatives to launch DOGE futures contracts on April 29
Derivatives exchange Coinbase Derivatives has postponed the launch of Dogecoin (DOGE) futures contracts from April 1 to April 29. Coinbase Derivatives previously announced that it would launch monthly cash-settled futures contracts for Dogecoin, Litecoin, and Bitcoin Cash on April 1.
OKX and HashKey will launch Meson Network (MSN) on April 29
OKX will soon launch Meson Network (MSN). The specific schedule is as follows:
MSN deposit opening time: April 26, 10:00 am (UTC+8);
MSN/USDT opening time: 2:00 pm, April 29 (UTC+8);
MSN withdrawal time: April 30th 2:00 pm (UTC+8).
HashKey Global will launch Meson Network (MSN), and the MSN/USDT trading pair will be open for trading at 15:00 Beijing time on April 29.
Project dynamics:
Scroll Mainnet to undergo Bernoulli Upgrade on April 29
Scroll announced on Twitter that the mainnet will undergo a Bernoulli upgrade at 10:00 Beijing time on April 29. It is reported that the upgrade introduces EIP-4844 data blobs for L1 data availability and SHA2-256 precompilation support.
The deadline for submitting initial bankruptcy crypto withdrawal requests on BlockFi is 7:59 on April 29
BlockFi reminded on the X platform that the deadline for submitting crypto withdrawal requests for the initial bankruptcy estate on the BlockFi platform is 7:59 Beijing time on April 29, 2024. The platform must receive the identity verification information request before 7:59 on May 4.
Scallop will redistribute SUI supply incentives on April 29 to gradually increase SUI borrowing incentives
Sui Ecological Lending Protocol Scallop announced that Scallop will enter the testing period next week and gradually increase SUI's borrowing incentives by reallocating from SUI supply incentives. This implementation is intended to drive more lending activities in Scallop and Sui Network as a whole. SUI Incentive Allocation Details: Week 1 (April 29): Supply Incentive (50%) / Lending Incentive (50%). In addition to SUI incentives, Scallop borrowers will also be eligible for SCA boosted borrowing incentives, receiving up to 4 times the annual interest rate on borrowing. In order to maintain a healthy ecosystem, Scallop lenders will still be incentivized by SCA incentives.
Web3 gaming platform Puffverse will announce initial token migration and IGO points reward details on April 29
Details of the initial token migration and IGO points rewards of Puffverse, a Web3-focused gaming platform, will be announced on April 29. It has completed a $3 million financing, led by Animoca Brands, and followed by well-known investment institutions such as Arcane Group, Spartan Group, Foresight Ventures, HashKey Capital, Sky Mavis, and Xu Family Office.
friend.tech will launch v2 on April 29
friend.tech posted on Twitter that the relevant audit has been completed and the v2 version is planned to be launched on April 29.
Bitlayer launches $50 million ecological incentive plan, registration for the first phase of incentive activities ends on April 29
Bitlayer, a Bitcoin Layer2 infrastructure project based on the BitVM paradigm, announced the launch of a $50 million ecological incentive program to promote the development of its mainnet ecosystem. The registration for the first phase of the incentive event, called "Ready Player One", will start at 09:00 UTC on March 29, 2024 and end at 09:00 UTC on April 29, 2024, and will officially begin after the launch of the Bitlayer mainnet. Specific event rules and reward distribution guidelines will be disclosed in subsequent announcements. Through a series of ecological incentive programs such as "Ready Player One", Bitlayer aims to accelerate ecosystem development and incentivize projects to be deployed on the Bitlayer mainnet. In addition, Bitlayer promises to provide comprehensive ecosystem support for all projects, including potential foundation and institutional investment, initial liquidity support, comprehensive product development resources, guidance and investment opportunities from top incubators, support from the Bitcoin community and OGs, ecosystem cooperation and co-creation, etc.
Token unlocking:
Optimism (OP) will unlock approximately 24.16 million tokens at 12:00 noon Beijing time on April 29, accounting for 2.31% of the circulation, worth approximately US$56 million.
April 30
Exchange:
Bosera HashKey, Huaxia, Harvest Bitcoin and Ethereum ETFs will be listed on the Hong Kong Stock Exchange from April 30
The Hong Kong Stock Exchange issued three notices, announcing the inclusion of Bosera HashKey Bitcoin ETF Shares and Bosera HashKey Ethereum ETF Shares, Huaxia Bitcoin ETF Shares and Huaxia Ethereum ETF Shares, and Harvest Bitcoin Spot ETF Shares and Harvest Ethereum Spot ETF Shares as eligible securities for the central clearing system multi-counter. It is reported that:
1. The trading unit of BOSDAQ HashKey Bitcoin ETF shares and BOSDAQ HashKey Ethereum ETF shares is 10 shares, and the trading currency is Hong Kong dollars and US dollars;
2. The trading unit of Harvest Bitcoin Spot ETF Shares and Harvest Ethereum Spot ETF Shares is 100 shares, and the trading currency is Hong Kong dollars and US dollars;
3. The trading unit of Hua Xia Bitcoin ETF shares and Hua Xia Ethereum ETF shares is 100 shares, and the trading currencies are Hong Kong dollars, US dollars and RMB.
The above-mentioned ETF is expected to be listed and traded on the Hong Kong Stock Exchange Limited on April 30, 2024, and will be included as a multi-counter eligible security (as defined in the general rules of Hong Kong Clearing) in the Central Clearing and Settlement System on the same day.
Binance to List Renzo (EZ) on April 30
Binance announced the 53rd project on its Launchpool - Renzo (EZ), a liquidity re-hypothecation protocol. The maximum supply of Renzo (EZ) tokens is 10 billion, of which the Launchpool token reward is 250 million EZ, accounting for 2.5% of the maximum supply. The initial circulating supply is 1.05 billion EZ, accounting for about 10.50% of the maximum supply. Renzo (EZ) tokens will be based on Ethereum smart contracts and participants will need to complete KYC certification. In addition, participants will have an hourly hard cap of 147,569.44 EZ in the BNB pool and 26,041.67 EZ in the FDUSD pool. In addition, Binance will list EZ at 20:00 (Beijing time) on April 30, 2024, and open EZ/BTC, EZ/USDT, EZ/BNB, EZ/FDUSD, EZ/TRY trading pairs. Seed tags will be applied to EZ.
OKX will terminate services in India and requires local users to withdraw funds before April 30
Nearly three months after the Financial Intelligence Unit (FIU) under the Indian Ministry of Finance issued violation notices to nine foreign crypto exchanges, OKX cryptocurrency exchange will shut down its services in India. OKX notified its Indian users on March 21, asking them to close their accounts and redeem their funds by April 30. OKX said local regulatory barriers were the key reason behind their move.
The Financial Intelligence Agency has asked the Ministry of Electronics and Information Technology to block the websites of the notified crypto exchanges within two weeks of receiving the notification. After the website and application were blocked, OKX started a new registration process and conducted a strict "KYC" registration. However, recent announcements indicate that the initial efforts did not help OKX overcome regulatory obstacles in India.
DTCC: Cryptocurrency investment tools will no longer be accepted as collateral starting April 30
According to a document released by DTCC (Depository Trust & Clearing Corporation), starting April 30, 2024, as part of the annual credit line renewal, DTCC will implement the following changes to modify the collateral value of certain securities, which may affect the position value applicable to the Collateral Monitor:
1. The collateral valuation for corporate notes or bonds rated B1 to B3 will be increased from 50% to 70%;
2. Any ETF or other investment vehicle that includes Bitcoin or any other cryptocurrency as an underlying investment will not be given collateral value and will therefore be subject to a 100% haircut.
Project dynamics:
The NFTFI airdrop claim portal will open on April 30 and will last for 41 days
The NFTfi Foundation, an NFT lending protocol, announced on Twitter that the NFTFI airdrop claim portal will open at 20:30 Beijing time on April 30 and will last for 41 days until June 10. Unclaimed tokens will be returned to the community and reward allocations and used for future rewards. It is reported that the total supply of NFTFI tokens is 2 billion, and the initial circulation supply is expected to be 220 million, which will be distributed as ERC-20 tokens on the Ethereum mainnet. Tokens will be distributed to communities and rewards, foundations and ecosystems, core contributors and strategic supporters. 84.5% of the NFTFI token supply was initially locked and unlocked within four years.
U.S. prosecutors seek 36 months in prison for Zhao Changpeng; sentencing is set for April 30
U.S. prosecutors said in a court filing on Tuesday that Binance founder Changpeng Zhao should go to jail for 36 months after pleading guilty to violating anti-money laundering laws. Zhao, who is expected to be sentenced in Seattle on April 30, resigned as CEO of Binance last November when he and the exchange admitted to the violations and the company agreed to a $4.32 billion fine. Under Zhao's plea agreement, he initially faced up to 18 months in prison. The U.S. Department of Justice argued in its sentencing brief on Tuesday that "the scope and impact of Zhao's misconduct were enormous" and therefore "an increased sentence should be appropriate."
Binance Labs extends application deadline for seventh season incubation program to April 30
Binance Labs announced that it has extended the application deadline for its Incubation Season 7 program to 11:59 PM UTC on April 30. The previous deadline was April 16.
Token unlocking:
Sui (SUI) will unlock about 4 million tokens at 8:00 am Beijing time on April 30, accounting for 0.31% of the circulation, worth about $4.68 million
Echelon Prime (PRIME) will unlock approximately 1.66 million tokens at 8:00 am Beijing time on April 30, accounting for 4.43% of the circulation, worth approximately US$30 million
May 1st
Policy supervision:
The U.S. Treasury Department issued a refinancing announcement on May 1, which may be the key to reviving the Bitcoin bull market
The key to reviving the Bitcoin bull run is the U.S. Treasury’s refinancing announcement. The U.S. Treasury will release a refinancing announcement on May 1, detailing three months of borrowing needs and the balance held in the Treasury’s general account. As analysts expect U.S. Treasury Secretary Janet Yellen’s quarterly refinancing announcement (QRA) next week to ease pressure on risky assets, the broader uptrend may soon resume.
Saxo Bank said the upcoming QRA could bring relief, with total quarterly issuance set to fall from a peak of $7.2 trillion for the first time in two years. Althea Spinozzi, head of fixed income strategy, said: "Total issuance of marketable U.S. Treasury bonds is expected to fall for the first time since the second quarter of 2022. As a result, the market's focus will shift to the announcement of the Treasury General Account (TGA) level, and risk assets could rise if the QRA maintains the TGA target at $750 billion or lower. If the TGA remains at or below the current level of $750 billion, it means no change, or more funds could be released into the economy, boosting economic activity." Arthur Hayes, co-founder of BitMEX, previously posted a similar view, saying that the U.S. Treasury will announce a quarterly refinancing announcement next week, which is expected to re-accelerate the crypto bull market.
Project dynamics:
Theta Lab: The first version of hybrid cloud computing platform EdgeCloud is expected to be released on May 1
Theta Lab, operator of the decentralized streaming platform Theta Network, said in an official blog that the Theta engineering team has been working on the development of Theta EdgeCloud, a hybrid cloud computing platform based on a distributed edge architecture, for most of the past year. The first phase of EdgeCloud is expected to be released on May 1, 2024. In this version, AI developers can easily select and deploy popular models such as Stable diffusion, Llama 2, and many other out-of-the-box models with just a few clicks, and build AI-driven applications on them.
BOB postpones mainnet launch to May 1
Bitcoin L2 network BOB plans to postpone the mainnet launch to May 1, originally scheduled for April 24. This change is to accommodate the increase in the number of projects deployed on BOB and ensure sufficient time for additional testing and auditing.
HKVAEX issued a phased suspension and closure announcement, and the website is scheduled to be closed on May 1
HKVAEX will suspend services in stages starting from April 1, 2024, and its official website will be completely closed on May 1, 2024. It is reported that from now on, HKVAEX will no longer accept new user registrations or virtual asset recharge services. The trading service will be closed at 23:59 on April 5, 2024. Users will not be able to place any new orders at that time, and all existing spot orders will be automatically canceled by the system. The HKVAEX official website will be officially removed from the shelves on May 1, 2024, and from that date, users will not be able to access any HKVAEX-related content or services. Earlier news, the official website of the Hong Kong Securities and Futures Commission showed that the virtual asset trading platform license application submitted by HKVAEX to the Hong Kong Securities and Futures Commission has been withdrawn.
Token unlocking:
DYDX (DYDX) will unlock approximately 33.33 million tokens at 8:00 am Beijing time on May 1, accounting for 10.72% of the circulation, worth approximately US$71 million.
ZetaChain (ZETA) will unlock approximately 5.29 million tokens at 8:00 am Beijing time on May 1, accounting for 2.24% of the circulation, worth approximately $6.2 million
Manta Network (MANTA) will unlock approximately 1.87 million tokens at 7:59 am Beijing time on May 1, accounting for 0.75% of the circulation, worth approximately US$3.25 million
Acala (ACA) will unlock approximately 27.43 million tokens at 3:00 pm Beijing time on May 1, accounting for 2.85% of the circulation, worth approximately US$3 million
Tornado Cash (TORN) will unlock approximately 91,000 tokens at 11:30 am Beijing time on May 1, accounting for 2.41% of the circulation, worth approximately $250,000
May 2
Exchange:
Coinbase to Launch Aevo, Ethena, and Etherfi Perpetual Futures Contracts on May 2
Coinbase International Exchange and Coinbase Advanced will add support for Aevo, Ethena, and Etherfi perpetual futures contracts. The AEVO-PERP, ENA-PERP, and ETHFI-PERP markets will open on or after 17:30 Beijing Time on May 2, 2024.
Coinbase Custody will stop supporting PLA on May 2
Coinbase Institutional said on the X platform that based on a recent review, Coinbase Custody will stop supporting PlayDapp (PLA) in all jurisdictions on May 2, 2024.
Project dynamics:
Shibarium Network to Hard Fork on May 2 to Increase Transaction Speed and Reduce Transaction Costs
The Shibarium network will undergo a hard fork upgrade on May 2 to enable faster transactions and reduce costs. Notably, Shibarium’s transaction fees are as low as 0.0000219 BONE ($0.00001).
Renzo Announces REZ Token Economics and How to Claim Q1 Airdrop Rewards on May 2
Renzo, a liquidity re-staking protocol, announced the economic model and collection details of its native token REZ. The total amount of REZ is 10 billion, and the initial circulation is 1.05 billion. The community will allocate 30% of the tokens, investors will allocate 31.56%, core contributors will allocate 20%, the foundation will allocate 13.44%, and Binance Launchpool and liquidity mining will each account for 2.5%.
Renzo Season 1 rewards will end on April 26th, and any user who sells their ezETH holdings before this date may not be eligible for the airdrop. Users can claim REZ on May 2nd through claim.renzoprotocol.com. The community will distribute 500 million REZ (5% of the total) linearly based on the ezPoints accumulated by users. The top 5% of addresses will have 50% of the tokens unlocked immediately, and the rest will be released linearly over 6 months. Season 2 rewards will start immediately on April 26th.
Additionally, 2% of the Season 1 5% airdrop (i.e. 0.1% of the total token supply) has been allocated to the following NFT communities: Milady Maker and SchizoPosters.
Governance Voting:
ApeCoin launches "NFT Launchpad powered by APE" proposal voting, ends on May 2
The ApeCoin DAO community initiated a proposal vote for "NFT Launchpad powered by APE" to enhance the practicality and adoption of APE as a token by promoting the creation and trading of NFTs. The vote will end on May 2, and the current opposition rate is 70.62%. The main goal of the proposal is to establish an NFT Launchpad that uses APE as a currency to mint NFTs on the ERC-20 network, providing creators with a platform for minting, displaying and trading their NFTs.
Token unlocking:
Ethena (ENA) will unlock approximately 33.33 million tokens at 7:00 am Beijing time on May 2, accounting for 3.76% of the circulation, worth approximately US$44 million
May 3
Token unlocking:
Memecoin (MEME) will unlock about 5.31 billion tokens at 3:30 pm Beijing time on May 3, accounting for 31.94% of the circulation, worth about $150 million
Nym (NYM) will unlock approximately 45.63 million tokens at 8:00 am Beijing time on May 3, accounting for 6.36% of the circulation, worth approximately US$8 million
May 4th
Project dynamics:
Avail announces airdrop plan, eligible participants can verify and claim before May 4th
Modular blockchain Avail announced a token airdrop plan on its official blog, distributing 600 million tokens to 354,605 wallet addresses. The airdrop targets include blockchain ecosystem developers, testnet contributors, rollup users (Polygon, zkSync, Starknet, Optimism, and Arbitrum), Polygon PoS stakers, or Avail community members who have made significant contributions to the ecosystem. Eligible participants can start verifying token claims before May 4, and the tokens will be distributed when Avail DA is launched.
May 5
Token unlocking:
Galxe (GAL) will unlock approximately 5.18 million tokens at 8:00 am Beijing time on May 5, accounting for 5.76% of the circulation, worth approximately US$23.5 million
Liquity (LQTY) will unlock approximately 657,000 tokens at 8:00 am Beijing time on May 5, accounting for 0.69% of the circulation, worth approximately US$710,000
