News Preview:
The MakerDAO community plans to hold a governance vote on whether to abandon the Sky brand on November 4;
The U.S. presidential election will have its ultimate battle on November 5 local time, with the election results expected to be determined around noon on November 6 Beijing time;
The Federal Reserve will hold an FOMC meeting on November 6-7, and announce its next interest rate decision at 3 AM on November 8 Beijing time;
BNB Chain announces that MVB's eighth season accelerator will hold a Demo Day showcase on November 7;
Lamborghini, Animoca, and Motorverse will jointly launch the Fast ForWorld platform on November 7, bringing cars into Web3 gaming;
Neon (NEON) will unlock approximately 53.91 million tokens at 8:00 AM Beijing time on November 7, accounting for 44.92% of the current circulation, valued at approximately $21.2 million
November 4
Project Updates:
The new bounty program 'Sonic Boom' launched by Sonic Labs will end on November 4
Sonic Labs launched a new bounty program called 'Sonic Boom,' aimed at driving the development of key applications in areas such as exchanges, lending, tools, payments, stablecoins, yields, gaming, and NFTs, thereby promoting the development of the Sonic network. The program lasts nearly 13 weeks and will end on November 4, rewarding up to 30 winning projects based on carefully crafted criteria, with Sonic Gems as rewards. Sonic Gems are points that users can use to participate in future airdrops. Sonic is a new tech stack in the Fantom blockchain ecosystem, expected to handle over 2,000 transactions per second with an average final confirmation time of one second.
Governance Vote:
The MakerDAO community plans to hold a governance vote on whether to abandon the Sky brand on November 4
MakerDAO is discussing whether to abandon the Sky brand due to a lukewarm market response after rebranding. Although the launch of the USDS stablecoin was successful, the SKY token has performed poorly, recently dropping 23%, far below the performance of the CoinDesk 20 index. The community plans to hold a formal governance vote on November 4 to decide whether to restore the original Maker brand, maintain the Sky brand, or undergo a rebranding. MakerDAO founder Rune Christensen stated that the community still maintains a high level of recognition for the stability and trust of the Maker brand.
Token Unlock:
Staika (STIK) will unlock approximately 1.57 million tokens at 8:00 AM Beijing time on November 4, accounting for 0.01% of the current circulation, valued at approximately $2.8 million;
November 5
Policy Regulation:
The U.S. presidential election will have its ultimate battle on November 5 local time
Next week, the U.S. election will see its ultimate battle, potentially triggering a nuclear-level alert. The dollar bulls are 'fully loaded' as expectations for a 25 basis point rate cut by the Federal Reserve next week are nearly fully priced in following the worst non-farm payrolls report in four years. Next week's market focus includes the U.S. election, the Federal Reserve's interest rate decision, and the Bank of England's interest rate decision, starting with the 2024 presidential election in the U.S. on Tuesday. Many major polls still show a neck-and-neck race between Trump and Harris. Overall, the results of the U.S. election day are expected to be determined around midnight Eastern Time, corresponding to around noon on November 6 Beijing time.
Exchanges:
OKX will launch SCR (Scroll) spot trading on November 5
OKX will soon launch SCR (Scroll), which is a bytecode-level compatible zkEVM Rollup and one of the mainstream scaling solutions for Ethereum. The SCR/USDT spot trading will open at 4:00 PM (UTC+8) on November 4, and SCR will be available for withdrawal at 6:00 PM (UTC+8) on November 5.
Token Unlock:
Delysium (AGI) will unlock approximately 8.57 million tokens at 8:00 AM Beijing time on November 5, accounting for 0.71% of the current circulation, valued at approximately $1.4 million;
November 6
Policy Regulation:
The Federal Reserve will hold an FOMC meeting on November 6-7 and make its next interest rate decision after it concludes
The Federal Reserve will hold an FOMC meeting on November 6-7 and will make its next interest rate decision at 3 AM on November 8 Beijing time. During the Q&A session after the speech, Waller refused to provide details on the 'gradual' pace of interest rate cuts. Federal Reserve Governor Waller stated that recent economic data suggests that decision-makers can afford to be less urgent in dealing with subsequent interest rate cuts compared to last month's meeting. Waller stated, 'I believe the overall data suggests that monetary policy should be more cautious in the pace of interest rate cuts than during the September meeting.' He added that if the current economic situation persists, 'we can shift policy to a neutral stance at a cautious pace.' The neutral policy rate refers to a rate that neither promotes nor hinders economic growth. Waller also mentioned that recent data, including upward revisions in economic growth and increases in job vacancies, indicate that the extent of economic slowdown may not be as severe as expected. At the same time, Waller stated that his baseline expectation is to gradually lower interest rates next year.
Exchanges:
Binance will delist IDRT, KP3R, OOKI, and UNFI on November 6
Binance announced that it will delist and stop spot trading for the following tokens on November 6, 2024, at 11:00 AM (Beijing time): Rupiah Token (IDRT), Keep3rV1 (KP3R), Ooki Protocol (OOKI), and Unifi Protocol DAO (UNFI). The affected trading pairs include KP3R/USDT, OOKI/USDT, UNFI/BTC, UNFI/TRY, UNFI/USDT, and USDT/IDRT.
Project Updates:
UniSat: The LP rewards on PizzaSwap will launch on November 6
UniSat stated on the X platform that the LP rewards on PizzaSwap will launch on November 6, including the first major version update since the launch of PizzaSwap. In this update,
PizzaSwap will be open to all brc-20 tickers on Fractal and allow users to create any trading pair.
FB rewards will be generated within 14 days into the specific liquidity pool for the FB trading pair (details on the reward amount will be provided in an update).
In the first Epoch, PizzaSwap will support the following pairs: sFB <> sBTC, and sFB <> sSATS.
Gitcoin's 22nd round of Grants will continue until November 6
The Web3 public goods protocol Gitcoin has launched its 22nd round of Grants, running from October 23 to November 6. This round of funding focuses on expanding open source software (OSS) and supporting digital public goods, with a total of $1.125 million in matching funds. Among them, 4 OSS rounds will receive a total of $1 million in matching funds, and 7 community rounds will receive matching funds ranging from $12,500 to $20,000. Additionally, this round introduces on-chain proof minting and cross-chain donation capabilities, further enhancing the accessibility and transparency of donations, promoting community support for Web3 and the development of digital public goods.
Governance Vote:
ZKsync will start on-chain voting for the 'distributing 325 million ZK tokens to DeFi users within 9 months' proposal on November 6
The ZKsync community ZK Nation stated that the ZKsync Ignite Program TPP 001 proposal 'distributing 325 million ZK tokens to DeFi users within 9 months' has been submitted on-chain after feedback from representatives and multiple iterations, with voting starting around 01:00 on November 6 and ending on November 13. The proposal suggests distributing 325 million ZK tokens over 9 months, with 300 million allocated through six minters (with a cap of 50 million each) to users, and another 25 million tokens managed by four minters to cover management and unforeseen costs. This proposal aims to establish a DeFi liquidity hub on the ZKsync Era and enhance the liquidity of all interoperable ZK chains (Elastic Chain).
Token Unlock:
Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 AM Beijing time on November 6, accounting for 0.05% of the current circulation, valued at approximately $6.2 million;
Ethena (ENA) will unlock approximately 12.86 million tokens at 5:00 PM Beijing time on November 6, accounting for 0.45% of the current circulation, valued at approximately $4.5 million;
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3 AM Beijing time on November 6, accounting for 0.69% of the current circulation, valued at approximately $3.1 million;
Cetus Protocol (CETUS) will unlock approximately 8.3 million tokens at 8:00 AM Beijing time on November 6, accounting for 2.61% of the current circulation, valued at approximately $1.5 million;
Heroes of Mavia (MAVIA) will unlock approximately 1.15 million tokens at 8:00 AM Beijing time on November 6, accounting for 3.64% of the current circulation, valued at approximately $1.3 million;
November 7
Exchanges:
OKX will delist VELA, KAN, WSM, BORING, CEEK, and AVIVE spot trading pairs on November 7
OKX will officially delist the spot trading pairs VELA/USDT, KAN/USDT, KAN/USDC, WSM/USDT, BORING/USDT, BORING/USDC, CEEK/USDT, AVIVE/USDT, AVIVE/USDC on November 7, 2024, from 4:00 PM to 4:30 PM (UTC+8). OKX advises users with open orders in these trading pairs to cancel them before 4:00 PM (UTC+8) on November 7, 2024. If not cancelled in time, the order system will automatically execute. Cancelation may take 1 to 3 business days.
Project Updates:
Optimism: Voting for contributors in Seasons 5 and 6 of the superchain will end on November 7
Optimism posted on the X platform stating that during Season 5 and Season 6, up to 3.5 million OP will be allocated to contributors of Optimism Governance, meaning that contributors from October 2023 to September 18, 2024, will be rewarded. Voting will take place from October 28 to November 7, with results announced on November 19.
BNB Chain announces that MVB's eighth season accelerator will hold a Demo Day showcase on November 7
BNB Chain announced the 35 projects selected for its eighth season of 'Most Valuable Builder (MVB)' accelerator program, which are: DeFi Projects: Allo.xyz, Avalon, CarbonFi, Evoq Finance, Paimon, RateX, SparkleX, uDEX, Vanilla Finance, YieldFi, YieldNest; Infrastructure Projects: Alaya AI, APRO Oracle, Balloon Dogs, BAS, Blockus, Codatta, CodexField, Infinity Ground, Matchain, Yotta Labs; Application Layer Projects: Alias, Alt.town, Balance, Bando, Cat Gold Miner, Four.meme, Gameland, GamerBoom, GraFun, MEET48, Moso, Nomis, REVOX, and TaleX. These projects will showcase their results on Demo Day on November 7, and Binance Labs will make investment decisions based on performance.
Lamborghini, Animoca, and Motorverse will jointly launch the Fast ForWorld platform on November 7, bringing cars into Web3 gaming
Lamborghini has partnered with Web3 gaming company Animoca Brands to launch the first blockchain-based interoperable digital car, marking its official entry into the Web3 gaming sector. This collaboration will be realized through a platform called 'Fast ForWorld,' allowing players to buy, sell, and drive Lamborghini cars in games within the Motorverse ecosystem, including Torque Drift 2 and REVV Racing. Animoca stated that the platform will be launched on November 7 and will provide a 3D wallet function, allowing users to store and use their digital cars. This collaboration is part of Lamborghini's exploration of new ways to engage with the Web3 brand.
The LocalMonero exchange will close on November 7 due to reduced crypto privacy services
The privacy coin Monero (XMR) peer-to-peer trading platform LocalMonero has ceased operations, exacerbating the recent crackdown and arrests in the cryptocurrency privacy sector. On May 7, LocalMonero announced that, effective immediately, all new registrations and Monero trading ads are prohibited. On May 14, the platform will prohibit trading this privacy-focused cryptocurrency. The company cited 'a series of internal and external factors' as the reason for the shutdown but did not disclose specific reasons. Additionally, the company stated that the website would close on November 7 and advised users to withdraw funds from wallets before that date, or those funds may be considered abandoned.
Token Unlock:
Neon (NEON) will unlock approximately 53.91 million tokens at 8:00 AM Beijing time on November 7, accounting for 44.92% of the current circulation, valued at approximately $21.2 million;
GoGoPool (GGP) will unlock approximately 840,000 tokens at 8:00 AM Beijing time on November 7, accounting for 11.79% of the current circulation, valued at approximately $3.7 million;
Hashflow (HFT) will unlock approximately 13.62 million tokens at 8:00 AM Beijing time on November 7, accounting for 2.92% of the current circulation, valued at approximately $1.6 million;
November 8
Exchanges:
Coinbase will delist Decentralized Social (DESO) on November 8
Coinbase Assets stated on the X platform that Coinbase will suspend trading for Decentralized Social (DESO) around 2 PM Eastern Time on November 8. The team has switched the DESO order book to limit mode. As a result, Decentralized Social (DESO) has dropped 17.3% in 24 hours, currently reported at $4.93.
Project Updates:
The decentralized video conferencing project Huddle01 plans to open node public sales on November 8
The decentralized video conferencing project Huddle01 plans to raise $37 million through node sales to provide low-latency, censorship-resistant real-time connections, aiming to surpass Zoom and Google Meet. The first round of node sales will open to whitelist users on November 6 and will be available to the public on November 8, with a target fundraising of $8 million. Huddle01 is developed based on the Orbit technology of the Ethereum Layer-2 network Arbitrum, and the testnet will launch within two weeks after the sale ends. Node operators can earn token rewards by contributing network bandwidth, with approximately 21% of the HUDL tokens allocated to node operators.
Token Unlock:
Banana Gun (BANANA) will unlock approximately 250,000 tokens at 8:00 AM Beijing time on November 8, accounting for 7.21% of the current circulation, valued at approximately $11.7 million;
November 9
Exchanges:
OKX will suspend withdrawal services for tokens like MSN and OMN on November 9
The OKX platform has delisted the trading pairs MSN/USDT, OMN/USDT, REP/USDT, BTC/EURT, ETH/EURT, EURT/USDT, IGU/USDT, PCI/USDT, SLN/USDT, and their withdrawals will be suspended at 4:00 PM on November 9 (UTC+8). Please process related assets in a timely manner to avoid losses.
November 10
Token Unlock:
Bitget Token (BGB) will unlock approximately 5.38 million tokens at 8:00 AM Beijing time on November 10, accounting for 0.38% of the current circulation, valued at approximately $6 million;
