News preview:
Xai (XAI) will unlock approximately 198.4 million tokens at 5:30 pm Beijing time on July 9, accounting for 71.59% of the current circulation, with a value of approximately US$55 million;
Galxe’s GAL tokens will be migrated to G tokens, and the migration portal will open on July 9;
Hunan Hanshou Public Security reminds STFIL Protocol’s pledge and lending users to cooperate in reporting the situation before July 10
Aptos (APT) will unlock approximately 11.31 million tokens at 9:59 pm Beijing time on July 12, accounting for 2.49% of the current circulation and worth approximately US$63 million;
The US June CPI (Consumer Price Index) data will be released on July 11
Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 am Beijing time on July 12, accounting for 2.15% of the current circulation, with a value of approximately US$41.6 million;
The U.S. House of Representatives plans to vote next week to override Biden's veto of SAB 121-related resolutions
Notcoin announces Telegram gaming accelerator, first applications open next week
July 8
Policy supervision:
Source: SEC has returned the S-1 form to the Ethereum ETF issuer, requiring it to be resubmitted before July 8
A source said the SEC has returned the S-1 form to the potential Ethereum ETF issuer with a small number of comments, asking it to process the comments and resubmit by July 8. The source noted that once the form is returned, it will not be the final filing. This means that at least one more round of filings will be required before the ETF can finally start trading.
Exchange:
Bithumb will delist Enter Button (ENTC) on July 8 as the project failed to implement according to its roadmap plan
South Korean crypto exchange Bithumb will delist Enter Button (ENTC) at 3 pm local time on July 8. The decision was due to the project's failure to implement according to its roadmap plan and delays in operations and development plans. After a comprehensive review, Bithumb believes that the sustainability concerns of ENTC cannot be resolved.
Bitget will launch BGB U-margin perpetual contract on July 8
Bitget will launch BGB U-margin perpetual contract at 18:00 Beijing time on July 8, 2024, with a maximum leverage of 50 times. In addition, Bitget will also launch BGB contract strategy trading at the same time.
Project dynamics:
The EOS staking plan will be launched on July 8, and the first batch of 250 million EOS will enter the EOS staking pool
The EOS Network Foundation (ENF) announced in its official blog that based on the new EOS token economics, the EOS staking plan will be launched on July 8, and the first 250 million EOS will begin to enter the EOS staking pool. Users can put EOS into the staking pool to start receiving rewards, and there will be a 21-day waiting period to start the unstaking process.
BNB Greenfield mainnet is expected to conduct Veld hard fork on July 8
According to the official announcement, the decentralized data storage network BNB Greenfield is about to undergo a Veld hard fork, which will significantly update and optimize the platform. The testnet is expected to undergo a Veld hard fork at block height 9,581,218. Based on the current block interval, it is expected to occur at 15:00 on June 25, Beijing time. The mainnet is expected to undergo a hard fork at block height 9,269,910. Based on the current block interval, it is expected to occur at 15:00 on July 8, Beijing time. Validators and storage providers should upgrade to the latest version before the hard fork. The hard fork will not affect users' account balances.
Zircuit mainnet is about to be released and will start the second season on July 8
Zircuit, an EVM-compatible zkRollup network, officially announced that the mainnet launch is coming soon. A snapshot of Zircuit points obtained from Season 1 (staking and previous activities) will be taken on July 7. Season 2 will start on July 8. As previously reported, Binance Labs announced an investment in Ethereum Layer 2 network developer Zircuit for an undisclosed amount. Since its establishment in mid-2022, Zircuit has also received support from Pantera Capital and Dragonfly. Zircuit plans to release its mainnet in the coming months.
MakerDAO and Sherlock to Collaborate on $1.35 Million Security Audit Competition on July 8
MakerDAO and Web3 audit competition provider Sherlock will collaborate on a $1.35 million audit competition that will launch on July 8 and end on August 5 to ensure the security of its Endgame phase.
July 9
Exchange:
OKX will delist RNDR perpetual contracts on July 9
According to the official announcement, OKX will delist RNDR perpetual contracts from 4:00 to 5:00 pm (UTC+8) on July 9, 2024, and will delist RNDR leveraged trading from 4:00 to 5:00 pm (UTC+8) on July 8, 2024.
Project dynamics:
Galxe’s GAL tokens will be migrated to G tokens, and the migration portal will open on July 9
Web3 infrastructure and digital credential network Galxe said on the X platform that the Galxe (GAL) token will migrate to Gravity (G) to unify and optimize the experience across both ecosystems. G is the native token of Gravity and the utility token of the Gravity and Galxe ecosystems. G drives transactions as a gas token and will soon be used to secure the network through staking. As the main utility token across both ecosystems, G drives governance decisions, incentivizes growth, and facilitates payments. The G token will be the native token of the Gravity Alpha mainnet and exist as an ERC20 token on Ethereum, BNB Chain, and Base. The initial total supply is 12,000,000,000.
After the on-chain migration is completed, the user's existing GAL tokens will be destroyed and new G tokens will be sent to their wallets at a ratio of 1:60. The migration portal will be open to all users on July 9, 2024, and will remain online for at least one year to ensure that GAL holders have enough time to complete this process.
OpenAI will stop using its API in unsupported countries and regions on July 9
Early this morning, some developers received a letter from OpenAI, "According to the data, your organization has API traffic from regions that OpenAI does not currently support. From July 9, additional measures will be taken to stop API use from countries and regions not on the list of countries and regions supported by OpenAI."
Token unlocking:
Xai (XAI) will unlock approximately 198.4 million tokens at 5:30 pm Beijing time on July 9, accounting for 71.59% of the current circulation and worth approximately US$55 million.
July 10
Policy supervision:
Hunan Hanshou Public Security reminds STFIL Protocol’s pledge and lending users to cooperate in reporting the situation before July 10
According to the official announcement of STFIL Protocol, the LSD protocol STFIL Protocol of Filecoin ecosystem was involved in the "3.28" illegal use of information network case. The official website of STFIL Protocol has been investigated by the Hanshou County Public Security Bureau of Hunan Province, and a batch of FIL virtual currency involved in the case has been seized according to law. The announcement requires the pledge users and borrowers of the website to bring valid identity documents and relevant records to the Hanshou County Public Security Bureau to report the situation and provide evidence materials before July 10, 2024. The virtual currency that fails to report the situation after the deadline will be disposed of according to law.
Project dynamics:
The Lido community has initiated a proposal to "hire legal counsel to attend the Lido DAO class action lawsuit." The voting will end on July 10.
According to the Snapshot page, the Lido community has initiated a proposal to "designate an entity to respond to pending class action lawsuits against Lido DAO." It is proposed to appoint and hire Dolphin CL, LLC ("Dolphin"), a Delaware limited liability company, as legal counsel and to appear in the lawsuit as "Lido DAO" with a funding of 200,000 DAI. The proposal will be voted on July 10. The proposal states that a plaintiff filed a class action lawsuit in the United States District Court for the Northern District of California, case number 3:23-cv-06492 ("complaint"), and listed "General Partnership LIDO DAO" as the defendant. In the complaint, Lido DAO was accused of being a "general partnership operating an Ethereum staking business," and LDO tokens or LDO token transactions were accused of being securities or securities transactions, and Lido DAO was accused of offering or selling these securities to the public in violation of securities laws.
Token unlocking:
DYDX (DYDX) will unlock approximately 1.55 million tokens at 0:00 on July 10, Beijing time, accounting for 0.68% of the current circulation and worth approximately US$1.9 million.
July 11
Policy supervision:
Former US President Trump's sentencing date is set for July 11 and may be delayed
Former US President Trump's sentencing date is set for July 11, but it may be postponed. Court documents show that the sentencing of Trump's "hush money" case may be postponed for two weeks. Manhattan prosecutors in New York, the United States, said they were willing to postpone the verdict of his "hush money" case after the US Supreme Court ruled to give former President Trump a "certain degree" of immunity. A court document on the same day showed that the office of Manhattan District Attorney Alvin Bragg said they were willing to postpone the verdict of the "hush money" case, which was originally scheduled for July 11, for up to two weeks.
US June CPI (Consumer Price Index) data released
Project dynamics:
Degen: Airdrop 2 Season 6 will start on July 11
Degen said on the X platform that Airdrop 2 Season 6 will start on July 11.
OP Labs: The Fjord upgrade led by the Base team will be carried out on the OP mainnet in the early morning of July 11
OP Labs announced that the upcoming Fjord upgrade will bring new features and cost savings, led by the Base team and supported by OP Labs. The upgrade will be carried out on the OP mainnet at 16:00:01 UTC on July 10 (00:00:01 Beijing time on the 11th). After the upgrade, the cost of smart wallet key verification will be reduced by up to 20 times, and transaction costs will drop by 5-15%. At the same time, the sequencer drift time is increased from 10 minutes to 30 minutes to better maintain the activity of Superchain. Chain operators need to upgrade the software and reconfigure the fee coefficient.
Token unlocking:
io.net (IO) will unlock about 2.11 million tokens at 8:00 pm Beijing time on July 11, accounting for 2.22% of the current circulation and worth about $4.4 million.
Moonbeam (GLMR) will unlock approximately 3.04 million tokens at 8:00 am Beijing time on July 11, accounting for 0.34% of the current circulation, with a value of approximately US$560,000.
July 12
Project dynamics:
NAVI Protocol plans to distribute 15,000 NAVX tokens in the “NAVIgator Expedition” until July 12
According to NAVI Protocol's announcement on the X platform, NAVI Protocol, the one-stop liquidity protocol of the Sui ecosystem, has launched the "NAVIgator Expedition" event to celebrate the integration of Sui Network on the Taskon platform. The event starts today and ends on July 12, 2024. A total of 15,000 NAVX tokens will be distributed to 10 qualified participants through a lucky draw, and each winner will receive 1,500 NAVX tokens. In addition, NAVI Protocol recently announced that it has successfully integrated Stashed, a social media account integration tool officially supported by Getstashed Sui. Through cooperation with Mysten Labs and Stashed, NAVI will bring lending services to a wider range of mainstream users.
Pre-order or pre-order Solana Mobile’s second-generation phone “Chapter 2” before July 12 to receive Holdium token airdrop
Solana ecosystem loyalty project Holdium said on the X platform that no registration is required to get the token airdrop for pre-orderers of Solana Mobile's second-generation mobile phone Chapter 2. Before July 12, 5% of the Holdium supply will be distributed to all those who hold pre-order tokens. In other words, anyone who pre-orders or pre-orders Solana Mobile's second-generation mobile phone "Chapter 2" before July 12 is eligible for this special airdrop of the project.
Token unlocking:
Aptos (APT) will unlock approximately 11.31 million tokens at 9:59 pm Beijing time on July 12, accounting for 2.49% of the current circulation and worth approximately US$63 million.
Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 am Beijing time on July 12, accounting for 2.15% of the current circulation and worth approximately US$41.6 million.
July 13
None
July 14
Project dynamics:
BNB Chain: Second Sunset Fork Scheduled for July 14
According to the official announcement of BNB Chain, the second Sunset fork is scheduled for July 14. During this period, the staking function of BNB Beacon Chain (BC) will be migrated to BNB Smart Chain (BSC), BC will be phased out, and all assets need to be migrated to BSC: 1. Staken BNB: If BNB is staked, the migration needs to be completed before July 14, otherwise the stake will be automatically canceled and returned to the user's account within two weeks. 2. BNB and other BEP2 assets: These assets also need to be transferred from BC to BSC. If the migration is not completed after August 15, the assets will not be able to be transferred. Users who have not yet completed the asset migration are requested to complete it before July 14.
Multicoin Capital Pledges Up to $1 Million in Donations to Crypto-Backed Senate Candidates by July 14
Multicoin Capital, a U.S. cryptocurrency investment company, has pledged up to $1 million to support pro-cryptocurrency Senate candidates. The investment company plans to fund four Republican candidates through the conservative super PAC Sentinel Action Fund: Sam Brown in Nevada, David McCormick in Pennsylvania, Bernie Moreno in Ohio, and Tim Sheehy in Montana. All four candidates have received an "A" rating from Stand With Crypto, a crypto advocacy organization led by Coinbase. Multicoin Capital will make donations based on the results of Sentinel's crypto donation campaign and promises to match 100% of all SOL tokens donated through the Gemini donation portal by July 14. Kyle Samani, managing partner of Multicoin, said the donation is to support candidates who believe that the United States needs to maintain the freedom to innovate. Although Sentinel is a conservative organization, Multicoin believes that the candidates it supports are consistent with its crypto interests.
Token unlocking:
Ethena (ENA) will unlock approximately 14.89 million tokens at 2:00 pm Beijing time on July 14, accounting for 0.87% of the current circulation and worth approximately US$5.6 million.
Specific time to be determined
Policy supervision:
The U.S. House of Representatives plans to vote next week to override Biden's veto of SAB 121-related resolutions
The U.S. House of Representatives plans to hold a key vote next week on overturning Biden's veto of the SEC's cryptocurrency custody accounting standards announcement (SAB 121). Although the House of Representatives passed a resolution aimed at overturning SAB 121 by a vote of 228-182 in May, overturning the veto requires a two-thirds majority in both houses of Congress. Biden subsequently vetoed the resolution. SAB 121 was first issued in 2022 and has sparked controversy over the past year. It requires cryptocurrency custody companies to record customer-held cryptocurrencies as liabilities on their balance sheets. The crypto industry is concerned that the move could prevent banks from protecting digital assets.
Bloomberg analyst: Ethereum spot ETF may be listed and traded later next week or the week of July 15
Bloomberg analyst James Seyffart tweeted that Bitwise Invest has again submitted a revised Ethereum ETF S-1 form, and more issuers are expected to submit the form this week. Analysts believe that Ethereum spot ETF products may be listed later next week or the week of July 15. Another Bloomberg analyst, Eric Balchunas, commented: "No one really knows why the SEC is taking so long to process these forms. Given so few comments, the listing should be quick. But there may be a "problem" that slows down the process, or people are just on vacation in the summer. But all signs point to the listing this month, and more details will be revealed next week."
Biden nominates CFTC commissioners for senior positions at the FDIC and Treasury Department, and pushes for first nomination hearings to begin the week of July 8
According to a statement released by the White House, US President Biden announced the nomination of Christy Goldsmith Romero, a member of the Commodity Futures Trading Commission (CFTC), to lead the Federal Deposit Insurance Corporation (FDIC), and Kristin Johnson, a member of the CFTC, as Assistant Secretary of the Treasury Department for Financial Institutions. Both members urged the CFTC to issue rules or guidelines to protect consumers and address conflicts of interest in the cryptocurrency field. Romero has warned that there is a "contagion risk" in the cryptocurrency market and compared the industry to the 2008 financial crisis. Romero is also the sponsor of the CFTC's Technology Advisory Committee, which voted to submit a report to the committee earlier this year calling on the government and industry to understand decentralized finance. Johnson has previously stated that the CFTC should "immediately develop regulatory provisions for asset custody." He also expressed concerns about decentralized finance and artificial intelligence. According to Reuters, the Biden administration is pushing for the first nomination hearing to begin the week of July 8.
Project dynamics:
Jupiter: A new Solana transaction method based on Ape and Vault will be launched next week
According to Jupiter's official Twitter account, Jupiter recently launched a new product, ape.jup.ag, and has fixed some issues based on user feedback. A refresh icon has been added to quickly update balances and history, and display issues on small-screen devices have been fixed. The Ape app is also being optimized and is expected to be completed tomorrow to speed up new token transactions and balance inquiries. A new Solana transaction method based on Ape and Vault will be launched next week.
Notcoin announces Telegram gaming accelerator, first applications open next week
The Telegram gaming project Notcoin has announced the launch of the Telegram Gaming Accelerator, which aims to provide Telegram applets accessible to millions of users through blockchain.
Notcoin said that it has partnered with artificial intelligence analysis company Helika to expand and launch a game developer accelerator. Based on the experience of Helika Accelerate and $50 million in funding, the project will help game studios, mobile applications and independent developers build excellent gaming experiences on the Telegram platform and TON chain. The first batch of applications will be open next week.
