News preview:
Memeland: MON staking platform will be launched immediately after TGE on May 27
Solana v1.18 is expected to be released on May 27 to solve network congestion issues
US SEC postpones decision on approval of spot Bitcoin ETF options listing to May 29
Hong Kong Securities and Futures Commission: Virtual asset platforms that have not submitted a license application by the end of this month must end their business in Hong Kong by the end of May
DYDX (DYDX) will unlock approximately 33.33 million tokens at 8:00 am Beijing time on June 1, accounting for 11.91% of the current circulation and worth approximately US$67 million.
Sui (SUI) will unlock approximately 65.08 million tokens at 8:00 am Beijing time on June 1, accounting for 2.78% of the current circulation and worth approximately US$69 million.
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 am Beijing time on May 31, accounting for 2.88% of the current circulation and worth approximately US$79 million.
May 27
Project dynamics:
Sei V2 upgrade governance proposal has been voted through, and the mainnet upgrade will be carried out on May 27
Sei tweeted that it has voted to pass Proposal 55 to "upgrade to V2". The Sei V2 mainnet upgrade will be carried out on May 27. According to previous news, Sei will launch the V2 upgrade in three phases, aiming to launch the first highly scalable parallelized EVM. The V2 upgrade will be divided into three phases: governance, Alpha release, and V2 readiness.
Memeland: MON staking platform will be launched immediately after TGE on May 27
NFT project Memeland announced that its Web3 game protocol MON Protocol has more than 60 partners, and another 50 partners are in negotiation. The MON staking platform will be launched immediately after the token generation event (TGE) on May 27. MON stakers will receive tokens from MEME and other partners.
Bitlayer and Lorenzo jointly launched the First Mining Festival with seven ecological projects, which will be launched on May 27
Bitlayer, the native second-layer network of Bitcoin, announced the Mining Gala event jointly launched with seven ecological projects including Lorenzo, Bitsmiley, Avalon, Bitcow, Pell, Enzo and Bitparty. The first Mining Gala will be held from May 27 to June 10. The event rewards will consist of two parts: the exclusive airdrop for the Mining Gala and the developer airdrops obtained by the seven project parties in the Bitlayer Dapp ranking competition. Among them, the project party will provide users with project token airdrops with a total value of more than 23.24 million US dollars, and most of the tokens are expected to complete TGE within 1-2 months. In addition, the project party promised to distribute 100% of the Bitlayer gems they won in the Bitlayer Dapp ranking competition to users. After the ranking competition is over, users can exchange the Bitlayer gems they obtained for Bitlayer tokens (BTR) at a certain ratio after TGE.
After the event goes online on May 27, users can log in to the official event page and People's Launchpad event page to participate in the event. By completing the on-chain interactive tasks set by the project, such as adding liquidity, creating transactions, depositing and borrowing assets, etc., they can obtain the relevant project Token airdrop. After completing the tasks on the official event page and sharing the event link, users can also cast the corresponding project Bitlayer First Mining Festival Mining Pioneer exclusive badge for free, which can be exchanged for Bitlayer ecological rights in the future.
Solana v1.18 is expected to be released on May 27 to solve network congestion issues
Mert Mumtaz, CEO of Solana ecosystem development platform Helius, posted on the X platform that, assuming everything goes well, Solana mainnet v1.18 (used to solve the current congestion problem of the mainnet) looks scheduled to be released on May 27.
Governance Voting:
Flare's Canary Network Songbird Community Initiates STP.08 Proposal, Voting to Open on May 27
Flare's canary network Songbird community initiated the STP.08 proposal, which aims to add new data sources to the Flare Time Series Oracle (FTSO). The proposal is divided into two parts, including adding 19 cryptocurrency prices, including TRX, LINK, ATOM, DOT, TON, ICP, SHIB, DAI, BCH, NEAR, LEO, UNI, ETC, WIF, BONK, JUP, ETHFI, ENA and PYTH, to the existing list of data sources; as well as defining the process of including more data sources in the future, including automatic monitoring and community requests. The proposal vote will be held from May 27 to May 31. If the Songbird community approves STP.08, the Flare community will also generate a similar Flare improvement proposal for voting.
Token unlocking:
Yield Guild Games (YGG) will unlock approximately 16.69 million tokens at 10:00 pm Beijing time on May 27, accounting for 4.49% of the current circulation and worth approximately US$16 million.
Nym (NYM) will unlock approximately 25 million tokens at 8:00 am Beijing time on May 27, accounting for 3.26% of the current circulation and worth approximately US$4 million.
May 28
Policy supervision:
London Stock Exchange Accepts Applications for Listing of Bitcoin and Ethereum ETNs, with the First Batch Expected to Be Listed on May 28
The London Stock Exchange (LSE) issued market announcement N03/24, announcing that it will accept listing applications for Bitcoin and Ethereum cryptocurrency exchange-traded notes (Crypto ETNs) from April 8, 2024. This measure follows up on the N02/24 announcement issued on March 11, and it is expected that the first batch of cryptocurrency ETNs will be officially listed and traded on May 28, 2024. This move is aimed at attracting the largest number of issuers to participate in the first day of trading. Issuers must submit the corresponding application materials to the exchange before April 15 and ensure that their basic prospectus is approved by the Financial Conduct Authority (FCA). The London Stock Exchange also specifically pointed out that issuers who fail to meet the listing requirements or submit applications overdue will not be able to participate in the first day of trading.
Binance will no longer support XRP and TUSD as joint margin assets from May 28
Binance announced that starting from 14:00 (ET) on May 28, 2024, XRP and TUSD will no longer be supported as joint margin assets. In addition, starting from 14:00 on May 14, 2024, the transfer-in limit of XRP and TUSD in the joint margin mode has been updated to zero. Starting from 14:00 on May 28, the remaining XRP and TUSD balances in the U-margin wallet will be automatically converted to USDT. The conversion ratio of XRP will be calculated based on the average price index of XRPUSDT from 13:00 to 14:00 on May 28, while TUSD will be converted at a 1:1 ratio. The entire conversion process is expected to take 24 hours.
Project dynamics:
LayerZero Labs: Plans to reopen witch bounty report submission on May 28
LayerZero Labs tweeted that it plans to reopen the submission of witch bounty tasks on Commonwealth, but requires submitters to pay a 0.5 ETH deposit. Only addresses that have paid the deposit are eligible to submit reports, and the deposit will be refunded after TGE, but if the report contains fraud, plagiarism, lack of methodology or spam, the deposit will be destroyed. It is reported that the specific time schedule for this witch bounty task is that bounty hunters can start paying deposits to designated addresses at 10:00 Beijing time on May 25, and the 48-hour report submission time will be reopened at 8:00 on May 28. The submission and deposit payment will end at 8:00 on May 30. Addresses that have submitted reports on Github and paid the deposit will be reviewed first, and successful reports will receive a 10% reward at TGE.
Blast will be upgraded to support blobs on May 28
Ethereum L2 network Blast said on X platform that Blast will upgrade to support blobs at 05:00 Beijing time on May 28. After the upgrade, Blast users will enjoy lower gas fees, and Dapps will receive more gas fee income. Infrastructure providers should upgrade to the latest Blast node that supports 4844.
Stargate V2 will be launched on May 28
Stargate announced on Twitter that it will launch version V2 on May 28. According to previous news, the Stargate V2 proposal has been voted through by the community and will introduce transaction batching and dynamic credit allocation to improve cross-chain efficiency and reduce cross-chain costs.
Former FTX executive Ryan Salame to be sentenced on May 28
The sentencing date for former FTX executive Ryan Salame is set for 11 a.m. on May 28 before former U.S. District Court for the Southern District of New York Judge Lewis Kaplan. Salame pleaded guilty last year to conspiracy charges of illegal political contributions and operating an unlicensed money transmission business. Ryan Salame reportedly requested an 18-month prison sentence.
Token unlocking:
SingularityNET (AGIX) will unlock approximately 8.71 million tokens at 8:00 a.m. Beijing time on May 28, accounting for 0.68% of the current circulation and worth approximately $8.4 million.
May 29
Policy supervision:
US SEC postpones decision on approval of spot Bitcoin ETF options listing to May 29
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on listing and trading options on a spot Bitcoin ETF, with a new decision date set for May 29.
UK launches consultation on its implementation of the OECD encryption reporting framework, closing on May 29
The UK has launched a consultation on its plans to implement the OECD crypto reporting framework following its spring budget speech. In its budget, the UK Treasury predicted that implementing the crypto reporting framework could attract £35 million ($45 million) in 2026-2027 and £95 million in 2027-2028. The OECD framework is a new standard to address tax non-compliance and an update to the existing framework for offshore accounts. Its aim is to ensure cross-jurisdictional exchange of transaction information on relevant cryptocurrencies. The rules will come into force in 2026. "The government is also implementing international standards to close gaps in tax transparency systems that have emerged as a result of recent developments in financial technology and global crypto asset markets," the budget said. The consultation will close on May 29.
Exchange:
Binance will release Ronaldo’s latest NFT collection on May 29
Binance announced that it will release the latest NFT collection of international football superstar Cristiano Ronaldo on May 29. Each NFT obtained by collectors is a digital souvenir of Ronaldo's profound impact on world football. This NFT collection is exclusively issued by Binance, and the specific NFT quantity and price will be announced on the release date of May 29.
Governance Voting:
Stargate Foundation launches a proposal vote on "Potential LayerZero Token Distribution" and ends on May 29
The Stargate Foundation, a cross-chain bridge based on LayerZero, initiated a proposal vote on the potential distribution of LayerZero tokens. The proposal stated that the Stargate community will distribute LayerZero tokens to three categories of users: cross-chain bridge users, liquidity providers (LPs), and veSTG holders. The specific distribution ratio is:
• 60% is allocated to cross-chain bridge users, of which 42% is allocated to users based on bridge transaction volume, and 18% is reserved for partnership agreements for a nested RFP process.
• 20% is allocated to veSTG holders, weighted based on time and quantity.
• 10% is allocated to liquidity providers, weighted based on the time and amount of liquidity provided.
• 10% is allocated to developers for future budgets, including marketing and community activities.
In addition, the proposal also includes the distribution of LayerZero tokens obtained by AptosBridge, 90% of which will be allocated to users who use AptosBridge, and 10% will be allocated to cooperation agreements that promote the development of AptosBridge. This vote will end on May 29.
Project dynamics:
Flow launches Crescendo upgrade, entering phase 2 on May 29
Flow tweeted that the Crescendo network upgrade is coming soon, which will bring EVM Equivalence and Cadence 1.0 to Flow. The first phase of the upgrade will start from May 22 to 23. Phase 1 focuses on testing the transaction check logic; Phase 2 from May 29 to 31, further improving the application; Phase 3 from June 5 to 8, the final check before the big action; Phase 4 from June 12 to 17, to ensure that everything goes as expected; on June 19, the Crescendo network upgrade will be deployed on the test network. On June 20, Flow will activate the EVM function on the test network.
May 30
Exchange:
VAEX will ban Hong Kong users from trading on May 30
Virtual asset trading platform VAEX plans to ban Hong Kong users from trading from 10 a.m. on May 30. According to previous news, the updated data on the official website of the Hong Kong Securities Regulatory Commission showed that the virtual asset trading platform license application submitted by VAEX to the Hong Kong Securities Regulatory Commission was withdrawn on May 24.
Coinbase to launch Bonk, FLOKI and Shiba Inu perpetual futures contracts on May 30
Coinbase International Exchange and Coinbase Advanced will add support for Bonk, FLOKI, and Shiba Inu perpetual futures contracts. 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP markets will be available on or after 17:30 Beijing Time on May 30, 2024.
Project dynamics:
Cryptopunks launches digital avatar series "Super Punk World", auction will be held at midnight on May 30
NFT project CryptoPunks said on the X platform that the Dutch auction of "Super Punk World" is open to all collectors and will be held at 0:00 am on May 30. Collectors will receive 2D images and 3D models that can be used in the future digital world. Previously, CryptoPunks announced the launch of "Super Punk World" on May 18. The project is a 500-piece digital avatar series personally curated by New York painter Nina Chanel Abney, inspired by the iconic CryptoPunks features combined with Super Cool World attributes.
May 31
Policy supervision:
Hong Kong Securities and Futures Commission: Virtual asset platforms that have not submitted a license application by the end of this month must end their business in Hong Kong by the end of May
The Hong Kong Securities and Futures Commission reminds investors that they must check the regulatory status of virtual asset trading platforms before March 1, 2024. Platforms operating in Hong Kong that have not submitted a license application to the Securities and Futures Commission on or before February 29 will need to cease operations in Hong Kong by May 31. Investors who use platforms that are not on the list of licensees or applicants should take measures as soon as possible, such as closing their accounts or transferring to platforms that have been licensed by the Securities and Futures Commission. The Hong Kong Securities and Futures Commission also stated that any unlicensed activities are criminal offenses.
Exchange:
OKX HK withdraws VASP license application and will only support Hong Kong users to withdraw funds after May 31
According to the official announcement of OKX, after careful consideration of the business development prospects, it decided to withdraw the license application of OKX HK. From May 31, 2024 (Friday), OKX will stop providing centralized virtual asset trading services to Hong Kong users in accordance with regulatory requirements. The relevant arrangement does not affect the withdrawal service, and users do not need to worry about the safety of their funds. After May 31, OKX will only support Hong Kong users to withdraw money. OKX Web3 (self-hosted wallet) product services will not be affected and will continue to provide services to Hong Kong users.
Project dynamics:
BounceBit: Redemptions for BTCB, WBTC, FDUSD, and USDT will take place on May 31
To celebrate the launch of the mainnet, BounceBit will automatically airdrop BB tokens to all eligible users before trading begins, without any claiming by users. In addition, the Liquid Custody feature will also be launched on the Bouncebit Portal, and whenever users deposit BTCB, WBTC, FDUSD, and USDT on BNB Chain or Ethereum, BounceBit will issue the corresponding Liquidity Custody Token (LCT). For users who participate in early access, their LCT will be automatically issued on the BounceBit chain. If users have MUBI, AUCTION, or DAII deposited, they can withdraw from the BounceBit chain through the cross-chain bridge after the mainnet launch. In addition, the redemption of BTCB, WBTC, FDUSD, and USDT will be scheduled on May 31, and the collateral assets in Premium Yield Generation will also be redeemed on the same date.
BNB Chain to announce 2024 Q2 hackathon winners on May 31
BNB Chain's 2024 Q2 hackathon "One BNB - Coding the Future" will last until the end of May, and aims to stimulate the further development of blockchain technology through challenges in different tracks such as artificial intelligence, DePin, games, DeFi, DeSoc, and infrastructure. The main dates of the hackathon include the application phase starting on April 11 and the submission deadline on May 16. The final winners will be announced on May 31 and enter a one-month incubation period.
Uniswap Foundation to launch on-chain voting on May 31 to reward UNI token stakers
The Uniswap Foundation announced that it will launch an on-chain vote for the upgraded protocol next Friday (May 31) to reward UNI token holders who have staked and delegated their tokens. UNI holders who wish to vote on the proposal must delegate UNI to themselves or a third party before the voting begins. Users who hold UNI but do not authorize in time will not be able to vote.
Token unlocking:
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 am Beijing time on May 31, accounting for 2.88% of the current circulation and worth approximately US$79 million.
Echelon Prime (PRIME) will unlock approximately 1.66 million tokens at 8:00 am Beijing time on May 31, accounting for 4.23% of the current circulation and worth approximately US$28 million.
Tornado Cash (TORN) will unlock approximately 92,000 tokens at 11:30 am Beijing time on May 31, accounting for 2.41% of the current circulation and worth approximately $240,000
June 1
Project dynamics:
BlockFi: The web platform will be closed on June 1, and users are advised to download important data in advance
BlockFi officially stated that the web platform will be closed at 7:59 Beijing time on June 1, 2024. After that, customers will no longer be able to access the BlockFi platform. BlockFi recommends that all customers download their transaction history, tax forms, and any other important data from the platform before the closing date.
Dogechain Wallet will be closed on June 1st. Please withdraw DOGE in time.
Dogechain Wallet (dogechain.info/wallet) will be closed on June 1. Mishaboar, one of the developers of Dogecoin, posted on the X platform that users should make sure to remove DOGE from the wallet before the closure on June 1 and keep a copy of the private key to prevent the addresses from being used elsewhere.
LayerZero Labs to End Witch Hunt Bounty Campaign on June 1
LayerZero Labs has launched a witch hunting bounty campaign. The bounty report will be closed at 7:59 on June 1st and must contain a clear method of at least 20 addresses. The bounty hunter who successfully reports the witch will receive 10% of the witch's expected token distribution, while the witch will receive 0 distribution. The final list of witches will be announced after the hunting bounty activity ends.
Anvil will airdrop the governance token ANVL, with a snapshot to be taken on June 1
The AMP Foundation (AF) has launched the initial phase of the Anvil Protocol mainnet launch and launched the protocol's governance token, ANVL. The Anvil Protocol aims to be a scalable collateral primitive in the DeFi space, and the ANVL token will govern all core matters including protocol upgrades, asset support, and external contract approvals. To support the Anvil mainnet launch, AF will airdrop ANVL tokens for free to addresses that provide AMP collateral on the Capacity platform. The snapshot will be taken at Ethereum block height 20,000,000, expected to be around June 1, 2024 UTC. At that time, users' ANVL holdings will correspond 1:1 to their collateralized AMP holdings. The ANVL obtained from the airdrop will follow a 48-month linear release plan, starting 12 months after the snapshot date, for a total of 60 months. Users must prove the validity of the address within 12 months of the snapshot by completing an action on the anvil.xyz/claim website or interacting with the ANVL claim contract on Etherscan, otherwise they will face the risk of having their ANVL quota confiscated.
Token unlocking:
DYDX (DYDX) will unlock approximately 33.33 million tokens at 8:00 am Beijing time on June 1, accounting for 11.91% of the current circulation and worth approximately US$67 million.
Sui (SUI) will unlock approximately 65.08 million tokens at 8:00 am Beijing time on June 1, accounting for 2.78% of the current circulation and worth approximately US$69 million.
1inch (1INCH) will unlock approximately 98.74 million tokens at 8:00 am Beijing time on June 1, accounting for 8.52% of the current circulation and worth approximately US$42 million.
ZetaChain (ZETA) will unlock approximately 5.29 million tokens at 8:00 am Beijing time on June 1, accounting for 1.99% of the current circulation and worth approximately US$8.2 million.
Acala (ACA) will unlock approximately 27.43 million tokens at 3:00 p.m. Beijing time on June 1, accounting for 2.85% of the current circulation and worth approximately $2.8 million.
Manta Network (MANTA) will unlock approximately 1.87 million tokens at 7:59 am Beijing time on June 1, accounting for 0.74% of the current circulation and worth approximately US$3.2 million.
June 2
Token unlocking:
Ethena (ENA) will unlock approximately 53.6 million tokens at 7:00 am Beijing time on June 2, accounting for 3.62% of the current circulation and worth approximately US$46 million.
Specific time to be determined
Loopring plans to distribute 2.5 million TKO to the community and will release an airdrop inspection and claim portal next week
According to Loopring's official Twitter account, Loopring has received 2.5 million TKOs, which will be distributed to the community. The airdrop inspection and claiming portal will be released next week, with more details on the eligibility criteria. At the same time, Loopring reminds users to beware of scammers and imposters, not to connect the wallet to any other website, and always check the official source.