News preview:
Pyth Network (PYTH) will unlock approximately 2.13 billion tokens at 10:00 pm Beijing time on May 20, accounting for 141.67% of the current circulation, worth approximately US$943 million;
PayPal will remove buyer and seller protections for NFTs starting May 20
Chiliz Chain to Hard Fork Dragon8 on May 21, Introducing Token Economics 2.0
P2E Game Nyan Heroes to Conduct TGE of NYAN Tokens on May 21
Avalanche (AVAX) will unlock approximately 9.54 million tokens at 8:00 a.m. Beijing time on May 22, accounting for 2.49% of the current circulation, worth approximately US$347 million;
The SEC must decide on VanEck and ARK’s Ethereum spot ETF applications on May 23 and May 24, respectively.
May 20
Exchange:
Coinbase Custody will stop supporting PLA and UNFI on May 20
Coinbase Institutional said on the X platform that based on recent reviews, Coinbase Custody will stop supporting PlayDapp (PLA) in all jurisdictions on May 2, 2024, and will stop supporting Unifi Protocol DAO (UNFI) on May 20, 2024.
Project dynamics:
PayPal will remove buyer and seller protections for NFTs starting May 20
Under PayPal's new policy, which took effect on May 20, NFT purchases will no longer be supported by the company's buyer protection program. In addition, NFT sales worth more than $10,000 will not be protected from false claims and chargebacks. Its website shows that PayPal issued a notice on March 21 that it plans to stop providing protection for some NFT-related transactions. But so far, these changes have not been reported. PayPal stated under the "PayPal Purchase Protection Program Amendment" section of its policy update page: "Effective May 20, 2024: We are revising PayPal's Purchase Protection Program to exclude NFTs from eligibility." In the "PayPal Seller Protection Program Amendment," PayPal stated: PayPal's Seller Protection Program is being revised to exclude NFTs from eligibility for transactions of $10,000.01 or more.
BounceBit: BTCB, WBTC, FDUSD, and USDT not pledged in Premium will be available for withdrawal on May 20
BounceBit announced the asset withdrawal schedule on Twitter, which is as follows: BTCB, WBTC, FDUSD, and USDT that are not staked in Premium: withdrawal will be open on May 20, and the processing time is about 1 day; BTCB and WBTC staked in Premium: withdrawal operations will be carried out after unstaking, undelegation, and cross-chain operations, and the processing time is about 9 days; FDUSD and USDT staked in Premium: withdrawal operations will be carried out after unstaking and cross-chain operations, and the processing time is about 8 days; MUBI, AUCTION, and DAII: withdrawal will be open on May 13 and can be processed immediately.
Token unlocking:
Pyth Network (PYTH) will unlock approximately 2.13 billion tokens at 10:00 pm Beijing time on May 20, accounting for 141.67% of the current circulation, worth approximately US$943 million;
May 21
Exchange:
Binance will support Lisk (LSK) contract swaps, suspending deposits and withdrawals of old LSK tokens from May 21
Binance announced that it will support Lisk (LSK) contract swaps. According to the Binance platform notice, from 10:00 on May 21, 2024 (Beijing time), all deposits and withdrawals of old LSK tokens will be suspended to facilitate the swap of token contracts.
Project dynamics:
P2E Game Nyan Heroes to Conduct TGE of NYAN Tokens on May 21
Nyan Heroes, a P2E game based on Solana, announced that it will conduct a token generation event (TGE) for its NYAN token on Bybit at 4:00 pm Beijing time on May 21. In addition, Nyan Heroes also stated that the airdrop will be launched soon.
Nyan Heroes is a Web3-based hero shooter with unique game mechanics and a cat-inspired IP designed to drive mass adoption. The game is currently in the top 30 on the Epic Games Store charts with over 200,000 downloads.
Lisk will conduct a series of airdrops. To participate, users must hold at least 50 LSK in a non-custodial wallet on May 21st.
Blockchain application platform Lisk has announced the upcoming first airdrop event, the Lisk HodlerDrop, as Lisk transitions to L2 form. In the coming months, Lisk will launch a series of airdrops to distribute a total of 15 million LSK. The airdrop strategy will cater to different groups in the community, with a special airdrop reserved for developers. More details about the upcoming DevDrop will be released soon. HodlerDrop aims to reward the OG community with a total of 3 million LSK based on participation and holdings at the time of migration. It should be noted that when migrating from Lisk v4 to Lisk L2, the more LSK balance a user holds, the greater the potential reward. Users must keep LSK in their personal non-custodial wallet before 14:00 Beijing time on May 21, and a minimum LSK balance of 50 is required to be eligible for the airdrop. In addition, exchanges and foundation addresses will be excluded from this airdrop.
Chiliz Chain to Hard Fork Dragon8 on May 21, Introducing Token Economics 2.0
Alexandre Dreyfus, CEO of sports and entertainment public chain Chiliz Chain, said on the X platform that the official date of Chiliz Chain's Dragon8 hard fork is currently scheduled for May 21, and this fork will introduce Token Economics 2.0. Previously, in the Token Economics 2.0 version released by Chiliz in February, it was mentioned that the inflation rate of CHZ will drop from 8.8% to 1.88% year by year and remain stable after 14 years. Chiliz Chain will also implement the EIP-1559 transaction fee destruction mechanism, and most of the accumulated gas fees will be destroyed.
May 22
Project dynamics:
Jupiter to hold third LFG vote on May 22
Jupiter, a decentralized exchange in the Solana ecosystem, announced that the third round of candidate projects for LFG include the cross-chain interoperability protocol deBridge, the betting platform Divvy.Bet, and the NFT market Exchange Art. The third round of voting will be held on May 22.
Ultimate Wallet and its mobile team were acquired by Jupiter and will be shut down on May 22
Jupiter, a decentralized trading platform in the Solana ecosystem, announced the acquisition of Ultimate Wallet and its mobile team. The Ultimate application will be shut down on May 22, 2024 as part of the integration. In addition, Jupiter will launch its new Jupiter Mobile program, which is expected to launch a beta version in May. The new mobile app will allow users to trade any token with one click, without charging any fees, aiming to provide a more convenient and economical trading experience to users of the Solana ecosystem.
Zeta Markets Airdrop Competition Ends on May 22
Zeta Markets, a decentralized exchange based on Solana, announced the launch of the Zeta community airdrop event to reward its partners and communities on the Solana network. The airdrop plan will allocate 1% (10 million) of the total supply of Z tokens to partner projects. Participating projects include Jupiter, Pyth Network, deBridge, Mad Lads, Tensor, AssetDash, and Superteam. The airdrop will be carried out in the form of a competition from 20:00 on May 8 to 7:59 on May 22 (Beijing time). Among them, 0.8% of the tokens will be allocated to eligible community users based on Z-Score, and another 0.2% of the tokens will be allocated as bonuses to the top three communities.
Flow is about to launch the Crescendo upgrade, and the first phase will start on May 22-23
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, and the first phase will focus on testing the transaction check logic; the second phase will be from May 29 to 31, further improving the application; the third phase will be from June 5 to 8, the final check before the big action; the fourth phase will be 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.
MerlinSwap launches esMP token, esMP staking activity will start on April 22
Merlin ecosystem DEX MerlinSwap said on the X platform that it has launched esMP tokens and will start the esMP staking party at 14:00 on April 22, Beijing time, and end at 14:00 on May 21. Users can stake esMP tokens and participate in the 2% airdrop allocation of MerlinSwap in the second phase.
SEC and Terraform Labs to debate compensation plan on May 22
In a document filed with the U.S. District Court for the Southern District of New York on April 29, Judge Jed Rakoff of the Federal District Court for the Southern District of New York stated that lawyers from the SEC, Kwon, and Terraform should appear in court on May 22 to debate the compensation plan. Earlier news, Terraform Labs lawyers proposed that the SEC lawsuit be fined up to $1 million, and no recovery would be made.
Token unlocking:
Avalanche (AVAX) will unlock approximately 9.54 million tokens at 8:00 a.m. Beijing time on May 22, accounting for 2.49% of the current circulation, worth approximately US$347 million;
SPACE ID (ID) will unlock approximately 18.49 million tokens at 8:00 a.m. Beijing time on May 22, accounting for 4.29% of the current circulation, worth approximately US$13.7 million;
May 23
Policy supervision:
US SEC to make decision on VanEck Ethereum spot ETF on May 23
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the VanEck Ethereum spot ETF, according to a public filing on Wednesday. VanEck, ARK Investment Management and seven other issuers have filed applications with the SEC to launch Ethereum spot ETFs. The SEC must decide on VanEck and ARK's applications on May 23 and May 24, respectively, and the two companies are the first in line to apply.
Related Information:
Standard Chartered Bank predicts: US SEC may approve Ethereum spot ETF on May 23
Ethereum options traders brace for month-end volatility ahead of ETF decision deadline
ARK Invest and 21Shares’ Latest Ethereum Spot ETF Applications Remove Collateralization Wording
Bloomberg ETF Analyst: Ethereum Spot ETF Approval May Not Be Achieved Until the End of 2025
Bloomberg Analyst: Ethereum Spot ETF Will Not Be Approved in May
Exchange:
Binance will suspend NTRN deposits and withdrawals on May 23 to support its network upgrade
To support the upgrade of the Neutron (NTRN) network, the deposit and withdrawal services of NTRN tokens will be suspended at 21:30 (ET8) on May 23, 2024. The network upgrade is expected to start at 22:30 on the same day, when the block height reaches 10,525,000.
Websea launches Launchpad project Meta Heaven (MEHG), subscription will end on May 23
Websea is about to launch the Launchpad project Meta Heaven (MEHG), providing exclusive participation opportunities for WBS platform coin holders. The maximum amount that users can invest will be determined based on their average WBS holdings from May 19 to 23, 2024; the minimum investment amount is 10 WBS, the personal hard cap is 50,000 MEHG, and the exchange ratio is 1 MEGH=0.01USDT; the token distribution results will be announced at 18:00 (GMT+8) on May 24, 2024, and the corresponding WBS will be deducted from the user's locked WBS balance. After the WBS is successfully deducted, the MEHG tokens and the remaining WBS will be issued to the user's spot wallet.
Nigerian court says Binance can receive tax evasion charges through detained executive Gambaryan, trial postponed to May 23
Money laundering and tax evasion charges against Binance and its executives, as well as bail hearings for detained Binance compliance chief Tigran Gambaryans, were all held in Nigeria on Friday. The court ruled that Federal Inland Revenue Service tax evasion charges could be served on Binance through Gambaryans. Gambaryans' lawyers opposed the application on the grounds that the amended charges needed to be reviewed in order to advise Gambaryans on his defence, and the court agreed to postpone the matter to May 22 for filing. The Economic and Financial Crimes Commission (EFCC) money laundering trial began on Friday when a Nigerian prosecutor called Abdulkadir Abbas of the Nigerian Securities and Exchange Commission as the first prosecution witness. After the prosecution completed its questioning of the first witness, Tigran's lawyers requested an adjournment to obtain certified records of certain documents used to cross-examine the witness in the proof of evidence. The court adjourned the trial to May 23 at noon.
Project dynamics:
Holograph will issue the first round of HLG rewards on May 23
Holograph, the full-chain NFT protocol, announced that 500,000,000 HLG (5% of the total supply) will be distributed to eligible recipients in the first round of HLG rewards. Additional HLG will be reserved for future distribution and ecosystem growth plans. The first round of HLG rewards will be issued to participants who earn more than 250 XP by performing specific on-chain operations on the Holograph App. These operations include configuring NFT collections, minting single NFTs, minting open version NFTs, and bridging NFTs. Key schedule for the first round of HLG rewards (Beijing time): Registration time: 18:00 on May 13th - 12:59 noon on May 23rd, 2024; Distribution time: 1:00 pm on May 23rd - 17:59 pm on May 23rd, 2024; Results announcement time: 18:00 pm on May 23rd; Lock-up period: until 20:00 pm on May 23rd, 2024.
May 24
Project dynamics:
MOCA Foundation: MOCA token distribution will be carried out around May 24
MOCA Foundation announced that it will distribute tokens around May 24. The MOCA token issuance information is as follows: a total of 126,984,127 MOCA tokens will be provided, accounting for 1.5% of the total token supply, and the price of each token is $0.03938; the FDV of the total MOCA token supply is $350,000,000; participants in the MOCA token issuance receive the most favorable vesting terms in different verticals, unlocking 5% at TGE, a 3-month cliff period, and a 52-week linear release driven by the CoinList platform.
The DePIN project Natix has launched a token public offering on the CoinList platform and will continue until 1:00 on May 24
NatixNetwork, a decentralized infrastructure network (DePIN) focusing on map data, announced that it will conduct a public token sale on the CoinList platform. NATIX Token has been launched on the CoinList platform at 01:00 on May 17, 2024, and the public sale will last until 01:00 on May 24 (Beijing time). The public sale supply is 5 billion NATIX tokens, accounting for 5% of the total supply (100 billion), with a fixed price of US$0.001 per token and a total valuation of US$100 million. The minimum purchase limit for CoinList users is US$100 and the maximum limit is US$2,000. Unlocking and linear unlocking period: TGE unlocks 25%, and the remaining 6 months are linearly unlocked. Users in restricted areas such as the United States and its territories, Canada, China, and North Korea are not eligible to participate.
A British court has postponed the final sentencing of Wen Jian, a British-Chinese national involved in the country's largest Bitcoin money laundering case, until May 24.
Jian Wen, a 42-year-old British-Chinese in the UK's largest Bitcoin money laundering case, was found guilty by a British court of "participating in arranging money laundering" and could be sentenced to up to 14 years in prison. Jian Wen's defense lawyer Mark Harries said that due to the judge's busy schedule, the British court has postponed the final sentencing of Jian Wen, which was originally scheduled for May 10, to May 24. During the investigation of Wen and Qian, the British police seized more than 61,000 bitcoins, the largest amount of cryptocurrency ever seized in the UK (based on the conversion of one bitcoin to about 50,190 pounds on May 10, it is worth about 3.06 billion pounds). Jian Wen was arrested in a two-bedroom apartment in South London. It is reported that she has returned to work in a restaurant and lives with her son. In the apartment, the police found a handwritten note: "I'll be dead if they break the BTC code."
Token unlocking:
Euler (EUL) will unlock approximately 4.66 million tokens at 0:17 am Beijing time on May 24, accounting for 0.34% of the current circulation, worth approximately US$370,000;
May 25
Project dynamics:
Notcoin will distribute approximately 5% of its token supply to more than 500,000 community members and exchange users, with a deadline of May 25.
Notcoin, a game & meme project in the Telegram ecosystem, tweeted that it will distribute about 5% of the token supply to more than 500,000 community members and exchange users. Among them, Wallet users on Telegram will receive 1 billion Notcoin as a total reward, and will provide opportunities to earn Notcoin through TON. The event will end on May 25.
Token unlocking:
Acala (ACA) will unlock approximately 4.66 million tokens at 8:00 a.m. Beijing time on May 25, accounting for 0.48% of the current circulation, worth approximately US$500,000;
May 26
Project dynamics:
Ethereum Foundation Opens Applications for Fellowship Program 5, Deadline for Applications is May 26
The Ethereum Foundation announced that the Ethereum Protocol Fellowship 5th (EPF5) program has opened applications, with a deadline of May 26. EPF is a permissionless project that provides opportunities for people who aspire to become contributors to the Ethereum protocol. The fifth EPF will last for five months, with two offline events held at EthCC in Brussels and Devcon in Southeast Asia from June to November. Successful participants will receive a monthly stipend and have the opportunity to work with mentors from the core development community.
