News Preview:
Zircuit announced that its native token $ZRC will officially open for trading on November 25, 2024;
Ethereum Layer 2 network Starknet announced that the STRK staking on the mainnet is scheduled to go live on November 26;
Web3 communication protocol WalletConnect will launch WCT token claim and staking on November 26;
HashKey Group's ecological token HSK officially announced it will go live on HashKey Global on November 26;
Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 AM Beijing time on November 26, accounting for 0.05% of the current circulation, valued at approximately $18.9 million;
ApeX (APEX) will unlock approximately 9.24 million tokens at 8:00 AM Beijing time on November 27, accounting for 19.09% of the current circulation, valued at approximately $17.8 million;
Immutable (IMX) will unlock approximately 24.52 million tokens at 8:00 AM Beijing time on November 29, accounting for 1.47% of the current circulation, valued at approximately $40.5 million
November 25th
Policy Regulation:
South Korea plans to implement a 20% cryptocurrency tax from early 2025, with the amendment expected to be voted on in the National Assembly's tax subcommittee on November 25
According to reports (Seoul News), South Korea's ruling party, the Democratic Party, plans to implement a 20% tax policy on cryptocurrency gains as originally scheduled in early 2025 (including a local tax of 22%). This tax was originally set to take effect on January 1, 2022, but was postponed twice to 2025 due to strong opposition from investors and the industry. The amended plan will raise the tax exemption threshold for crypto gains from 2.5 million KRW (about $1,795) to 50 million KRW (about $35,919). In addition, the amendment allows for a certain percentage of the sales price to be declared as the purchase cost when precise purchase records cannot be provided. The Democratic Party stated that raising the tax exemption threshold will effectively exempt the vast majority of investors from paying taxes. The amendment is expected to be voted on in the National Assembly's tax subcommittee on November 25 and submitted to the full National Assembly for review on November 26.
Exchange:
Coinbase will terminate the 'Direct Deposit' feature on November 25, and a new wallet integration is in preparation
US-listed cryptocurrency exchange Coinbase announced on Tuesday that it will terminate its 'Direct Deposit' service from November 25, which previously allowed users to receive part or all of their salaries in cryptocurrency. A spokesperson for Coinbase stated that the company 'has decided to gradually phase out' this feature, but the company 'will launch a better retail direct deposit experience in the future.' They stated: 'We have announced the launch of a new Coinbase wallet direct deposit feature that will roll out to eligible users in the coming months—further helping users bring their financial lives fully on-chain.'
Project Update:
Zircuit's ZRC token will lift the transfer restrictions on November 25.
Zircuit announced that its native token $ZRC will officially open for trading on November 25, 2024, and also revealed that a significant product will be launched next week. Zircuit has achieved remarkable achievements in the past 12 months, including launching a liquidity hub valued at $2 billion, providing airdrops for more than 200,000 users and 20 exchanges through Eigenlayer, and attracting support from over 70 strategic investors including Binance Labs and Pantera Capital. Currently, Zircuit has 342,000 on-chain wallet users.
The SynFutures points activity will end on November 25
SynFutures announced that its Oyster Odyssey points activity will officially end on November 25, 2024 (next Monday). This activity was launched simultaneously with SynFutures' launch on the Blast mainnet on March 1, 2024, and expanded to Base in July, attracting over 6.5 million wallet addresses to participate, helping SynFutures become the number one decentralized perpetual contract trading platform by trading volume and TVL on the Blast and Base networks.
Governance Voting:
Jupiter: The first Jupuary vote will start on November 25, seeking a support rate of 70%
Jupiter stated on the X platform that the first Jupuary vote will take place on November 25, and the team seeks a support rate of 70%. If the requirement is not met, the team will quickly conduct a new vote until the desired approval milestone is reached. Jupiter added that this is one of the most important votes in its history and one of the most interesting votes in DAO history.
Lista DAO initiated a new proposal to 'introduce pegged stability modules (PSM) and savings rates (LSR),' with voting ending on November 25
Lista DAO released a proposal 'Utilizing lisUSD savings rate to introduce pegged stability modules,' with a current voting approval rate of 100%, and voting will end on November 25. The proposal includes the introduction of pegged stability modules (PSM) and lisUSD savings rates (LSR) to enhance the price stability of lisUSD and provide deposit yield to users. The initial PSM supports USDT, with a total quota of 5 million lisUSD, and will gradually increase support for FDUSD and USDC, with a maximum limit of 15 million lisUSD. The initial rate of LSR is pegged to a fixed spread of 1% below the borrowing rate of lisUSD to BNB, and will be dynamically adjusted based on market demand, while a 2% fee will be charged for converting lisUSD to USDT, and conversions from USDT to lisUSD will be free of charge.
Token Unlock:
Venom (VENOM) will unlock approximately 33.76 million tokens at 4:00 PM Beijing time on November 25th, accounting for 1.79% of the current circulation, valued at approximately $2.2 million
Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8:00 AM Beijing time on November 25, accounting for 2.05% of the current circulation, valued at approximately $2.3 million
November 26th
Exchange:
Coinbase International will launch CoW Protocol perpetual futures contracts on November 26th
Coinbase International announced on the X platform that Coinbase International and Coinbase Advanced will add support for CoW Protocol perpetual futures contracts, with the COW-PERP market expected to open at or after 5:30 PM Beijing time on November 26, 2024.
HashKey Group's ecological token HSK will officially go live on November 26
HashKey Group's ecological token HSK officially announced it will go live on HashKey Global on November 26. HSK will be used in all business scenarios of HashKey and will also serve as the native token and gas token for HashKey's upcoming L2 public chain HashKey Chain, empowering long-term growth of the ecosystem.
Project Update:
WalletConnect: WCT claim and staking will go live on November 26
Web3 communication protocol WalletConnect stated on the X platform that WCT token claim and staking will go live on November 26.
Starknet: STRK staking will launch on November 26 on the mainnet
Ethereum Layer 2 network Starknet stated on the X platform that the date for STRK staking to go live on the mainnet is set for November 26. Following extensive testing on Sepolia, it is now ready to launch the first phase of STRK staking on Starknet's mainnet. Anyone can participate by becoming a validator, needing to stake at least 20,000 STRK and run a full node; or becoming a delegator by selecting a validator from the available list and holding STRK tokens. Note that both validators and delegators will be subject to a 21-day staking unlock period.
The Bitcoin financial public chain Side Protocol will open airdrop registration on November 26th
The Bitcoin financial public chain Side Protocol opens airdrop, and airdrop registration will open at 18:00 (UTC+8) on November 26, issuing a total of 100 million SIDE tokens. This airdrop covers multiple categories, including users who spent more than 0.005 BTC on the Bitcoin network between January 1, 2023, and November 1, 2024; NFT communities including Pudgy Penguins, Milady, Mad Lads, Bitcoin Puppets, NodeMonkes, Ordinal Maxi Biz, Bitcoin Frogs, Pizza Ninja, Quantum Cats, Runestone, Bad Kids, Celestine Sloth; ATOM stakers and public goods donors; testnet point users. Airdrop tokens will be gradually released after going live on the mainnet.
Developer Activities:
The latest phase of the BNB Chain hackathon will start workshops on November 26
The new phase of the BNB Chain hackathon is launching today, with a prize pool of over $458,000, open for global Web3 developers to register. This event has no preset themes, allowing developers to explore directions such as stablecoins and DeFi, Telegram-based DApps, AI-driven DApps, and new narratives. Workshops will start on November 26, project submission time is from December 15 to 24, the award list will be announced on January 16, 2025, and a one-month technical incubation period will commence. The final six winning projects will receive incubation support and an interview opportunity for the MVB program, and will also participate in sponsored challenges like UXUY to win exclusive rewards.
Token Unlock:
Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 AM Beijing time on November 26, accounting for 0.05% of the current circulation, valued at approximately $18.9 million
November 27th
Exchange:
Binance will remove C98/BTC, IDEX/BTC and other leveraged trading pairs on November 27
Binance officially announced that it will remove the following leveraged trading pairs on November 27, 2024, at 14:00 (UTC+8):
• Full Margin Leverage: C98/BTC, IDEX/BTC
• Isolated Margin Leverage: C98/BTC, FIS/BTC, IDEX/BTC, MBOX/BTC, REN/BTC, TKO/BTC
Users must properly handle related positions before the deadline to avoid unnecessary losses due to forced liquidation.
Token Unlock:
ApeX (APEX) will unlock approximately 9.24 million tokens at 8:00 AM Beijing time on November 27, accounting for 19.09% of the current circulation, valued at approximately $17.8 million
Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 PM Beijing time on November 27, accounting for 0.45% of the current circulation, valued at approximately $7.8 million
Yield Guild Games (YGG) will unlock approximately 14.08 million tokens at 10:00 PM Beijing time on November 27, accounting for 3.65% of the current circulation, valued at approximately $8.6 million
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 AM Beijing time on November 27, accounting for 0.69% of the current circulation, valued at approximately $3.5 million
November 28th
Exchange:
OKX will launch MAJOR (Major) spot trading at 8:00 PM on November 28
OKX will soon launch MAJOR (Major), which is a 'Play to Earn' game on Telegram with unique creativity and implementation aimed at increasing the popularity of the TON platform and blockchain. The $MAJOR token will be used for game mechanics and for leasing Telegram usernames and phone number NFTs. The spot trading for MAJOR/USDT will open on November 28 at 8:00 PM (UTC+8).
Project Update:
Sky will complete the removal of WBTC as collateral on November 28
The decentralized finance platform Sky (formerly MakerDAO) has decided to remove wrapped Bitcoin (WBTC) from its platform as collateral through a plan. This decision has attracted widespread attention, as the Sky platform currently has about $200 million in loans secured by WBTC, which is one of the major cryptocurrencies with a market value of nearly $10 billion. This move is related to the risk concerns caused by the association of WBTC's custodian BiTGlobal with Tron founder Justin Sun, and the first phase of removal will start on October 3 and be completed on November 28.
Token Unlock:
SingularityNET (AGIX) will unlock approximately 7.95 million tokens at 8:00 AM Beijing time on November 28, accounting for 2.25% of the current circulation, valued at approximately $5.1 million
Artificial Superintelligence Alliance (FET) will unlock approximately 3.45 million tokens at 8:00 AM Beijing time on November 28, accounting for 0.13% of the current circulation, valued at approximately $5 million
Velo (VELO) will unlock approximately 182.8 million tokens at 8:00 AM Beijing time on November 28, accounting for 2.47% of the current circulation, valued at approximately $3.3 million
November 29th
Exchange:
Bitfinex Securities will publicly issue tokenized US Treasury bonds according to Salvadoran law, with the initial subscription period ending on November 29
The digital securities exchange Bitfinex Securities is publicly issuing tokenized US Treasury bills (T-bills) under El Salvador's legal framework for the first time. As part of this issuance, the digital asset issuer NexBridge Digital Financial Solutions, based in El Salvador, will issue a new token with the trading code USTBL. This token is designed to provide investors with an opportunity to invest in short-term US Treasury bills denominated in USD.
Bitfinex Securities' initial issuance aims to raise at least $30 million to continue the issuance of tokens, with the initial subscription period starting from November 19, 2024, to November 29. According to Bitfinex Securities, this issuance is the 'first regulated' tokenized product for US Treasury bonds based on Bitcoin technology. The new token will be issued on the Bitcoin Layer 2 network Liquid Network, and it is expected to provide an annualized yield of 5.02%. The proceeds from this issuance will be allocated to iShares $ Treasury Bond 0-1yr UCITS ETF, a publicly listed ETF aiming to track the investment results of an index composed of government bonds issued by the US Treasury, denominated in USD.
Developer Activities:
Applications for the Telegram Growth Hub acceleration program will close on November 29
OKX Ventures, The Open Platform (TOP), and Folius Ventures announced the launch of a $10 million Telegram Growth Hub aimed at promoting TON blockchain innovation and expanding the Telegram mini-program ecosystem, funding, and supporting projects that enhance user engagement on TON. The Telegram Growth Hub will select up to 10 promising projects to conduct a two-month acceleration program. Selected teams will be eligible for funding from the $10 million fund, with applications closing on November 29, 2024. The Telegram Growth Hub will focus on three key areas: 1. User acquisition and education tools: Simplifying user onboarding projects through intuitive UI/UX and educational tools to enable new users to easily access TON; 2. Trading capabilities and network: Developing plans for chain trading functionalities, such as DEX and NFT trading, liquidity staking, and other advanced trading features; 3. Mini-program ecosystem expansion: Innovative mini-programs on Telegram, including games and entertainment applications that expand TON use cases.
Token Unlock:
Immutable (IMX) will unlock approximately 24.52 million tokens at 8:00 AM Beijing time on November 29th, accounting for 1.47% of the current circulation, valued at approximately $40.5 million
Crown by Third Time Games (CROWN) will unlock approximately 4.63 million tokens at 8:00 AM Beijing time on November 29, accounting for 2.11% of the current circulation, valued at approximately $1.7 million
November 30th
Policy Regulation:
Taiwan will implement a registration system for virtual asset service providers in advance starting November 30
Taiwan will implement a registration system for virtual asset platforms and trading business (VASP) starting November 30 this year. The head of Taiwan's Financial Supervisory Commission recently stated that 26 companies have obtained compliance statements under the anti-money laundering law, while 20 to 30 are still applying. The head of Taiwan's Inspection Bureau stated that four companies were inspected last year, with four major types of deficiencies identified, and inspections on six VASP practitioners are scheduled for November and December of this year.
Exchange:
Cryptocurrency exchange Fairdesk will close all services on November 30
Singapore cryptocurrency exchange Fairdesk announced that it will officially close all services on November 30, 2024, due to policy and regulatory issues. Since its establishment in 2021, Fairdesk has provided quality trading services for users in the US and Canada, but due to changes in the regulatory environment, the platform has decided to shut down permanently. Users must liquidate their accounts (futures, spot positions) by October 17, after which the platform will only retain withdrawal functions until it closes on November 30.
OKX will stop withdrawals for FITFI, GARI, XPR, AKITA, TAMA, WNCG on November 30
The OKX platform officially delisted FITFI/USDT, GARI/USDT, XPR/USDT, AKITA/USDT, TAMA/USDT, and WNCG/USDT from 4:00 PM to 4:30 PM (UTC+8) on August 30, 2024. Additionally, withdrawals for the above currencies will stop at 4:00 PM (UTC+8) on November 30. Users must handle related assets before this date to avoid losses.
December 1st
Project Update:
Sonic Labs: A snapshot of wallets holding six different Sonic Shards will be taken on December 1st
Sonic Labs (formerly Fantom) announced that it will snapshot wallets holding six different Sonic Shards at 8:00 PM (Beijing time) on December 1st. Eligible wallets will be whitelisted and can mint exclusive NFTs after the Sonic chain goes live. This NFT will grant holders points for the upcoming distribution of 200 million S tokens airdrop. Additionally, Shards obtained through secondary markets (like PaintSwap) are also eligible but must be held before the snapshot.
StakeStone will close the EigenLayer Season 2 Stakedrop token claim on December 1st
The full-chain liquidity asset protocol StakeStone previously opened the EigenLayer Season 2 Stakedrop token claim, where eligible users can receive EIGEN rewards. This claim will last until December 1, 2024. Rewards distribution is based on users' ETH holdings and holding duration at the snapshot on August 15. Users can access the claim portal anytime to make claims, and StakeStone promises 100% distribution of EIGEN tokens, with transparency data already made public, including total claimed amount and Merkle tree distribution information.
