News preview:
Analysts: Next week will be a "super central bank week", and there is no sign that the Fed will cut interest rates ahead of schedule or by more than 25 basis points
Ouyi and Bitget will launch Layer3 (L3) on July 30
The Federal Reserve will hold its interest rate meeting on July 30-31.
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 am on July 31, Beijing time, accounting for 2.79% of the current circulation, with a value of approximately US$54.5 million.
Jupiter Co-creation: JUP is about to enter an extremely important week, and will start voting on the proposal to reduce the supply of JUP
Sui (SUI) will unlock approximately 64.19 million tokens at 8:00 am Beijing time on August 1, accounting for 2.56% of the current circulation, with a value of approximately US$50.6 million.
Wormhole (W) will unlock about 600 million tokens at 7:30 pm Beijing time on August 3, accounting for 33.33% of the current circulation, with a value of about US$174 million.
July 29
Exchange:
CME Group and CF Benchmarks to Launch New Crypto Reference Rates and Real-Time Indices Starting July 29
CME Group and CF Benchmarks, a provider of cryptocurrency benchmark indices, announced plans to launch two new cryptocurrency reference rates and real-time indices, XRP and ICP, starting July 29. Calculated and published daily by CF Benchmarks, the new benchmarks will utilize pricing data from cryptocurrency trading platforms, which are currently the constituent trading platforms of the CME CF benchmark reference rate and real-time index suite. Each new benchmark will be calculated using pricing data from at least two trading platforms, including Bitstamp, Coinbase, Gemini, itBit, Kraken and LMAX Digital.
OKX Jumpstart to Launch Matr1x (MAX) Mining on July 29
OKX Jumpstart will launch Matr1x (MAX) mining activity at 14:00 on July 29, 2024 (UTC +8). BTC and ETH holders can stake BTC/ETH to mine MAX tokens. The mining period is from 14:00 on July 29, 2024 to 14:00 on August 5, 2024 (UTC +8), and can be staked and unstaked. The maximum stake amount per person is 0.3 BTC or 3.5 ETH. Users in mainland China, Hong Kong and South Korea cannot participate.
Binance: Users can purchase RENDER through fixed investment starting from July 29
RENDER was launched on Binance's leverage, contract and fixed investment platforms at 18:00 (ET on July 26, 2024). Users can apply for RENDER's principal-guaranteed coin-earning current products through the Binance principal-guaranteed coin-earning platform, and purchase RENDER through fixed investment from 18:00 (ET on July 29, 2024). In addition, users can use credit/debit cards, Google Pay, Apple Pay to purchase RENDER through the "One-click Coin Purchase" page, or use wallet balances for buying and selling. The flash exchange trading platform also supports the exchange of RENDER to other tokens such as BTC and USDT, and the exchange is free of handling fees. The Binance leverage platform will add RENDER borrowable assets at 18:00 on July 26, 2024, and open RENDER/USDT and RENDER/USDC leverage trading pairs.
July 30
Policy supervision:
The Federal Reserve will hold a rate-setting meeting on July 30-31
The International Monetary Fund said the Federal Reserve should wait until "late 2024" before considering cutting interest rates, while the U.S. government needs to raise taxes to control the growing federal debt, including on households earning less than $400,000 a year. The recommendations came in a detailed staff report for the IMF's annual "Article IV" review of U.S. economic policy.
In recent weeks, the IMF has been emphasizing the need for more prudent fiscal policy as the deficit continues to grow despite strong U.S. economic growth, with Republicans and Democrats crafting tax and spending proposals ahead of November's presidential election. The IMF noted that given that data earlier this year showed significant upside risks to inflation, lowering the policy rate would be appropriate after data show that inflation is sustainably falling back to the 2% target set by the Federal Open Market Committee (FOMC). prudent approach.
At a hearing of the Senate Banking Committee, Powell, chairman of the Federal Reserve, said that high inflation is no longer the only risk facing the US economy. The Fed is currently facing high inflation and a "cooling" labor market, and economic growth is also slowing down. Cutting interest rates "too late or too little will have an adverse impact on the economy." Powell also said that the Fed has made "considerable progress" in fighting inflation in the past two years, but has not yet achieved the Fed's goal of reducing inflation to 2%. Recent inflation data show "further progress" and the Fed needs more "favorable data." Regarding the Fed's future policy trends, Powell said that it is expected that there will be no interest rate hike at the next meeting. As inflation "cools down", interest rates will be cut at the "right time."
Exchange:
Ouyi will launch Layer3 (L3) on July 30
OOY announced that it has opened Layer3 (L3) deposit service, L3/USDT trading will be opened at 6:00 pm (UTC+8) on July 30, and withdrawal service will be opened at 6:00 pm (UTC+8) on July 31. Layer3 is a decentralized attention layer that connects the blockchain ecosystem through incentives and identity protocols to help build communities and distribute value.
Bitget will launch Layer3 (L3) Launchpool and transaction mining activities on July 30
Bitget is about to launch the Launchpool project Layer3 (L3), with a total prize pool of 6,163,000 L3. This round of Launchpool has three staking mining pools, namely the BGB prize pool, with a personal staking limit of 20,000 BGB; the USDT prize pool exclusively for new users, with a personal staking limit of 2,000 USDT; and the L3 prize pool, with a personal staking limit of 5,720,000 L3. The staking opening time is from 18:00 on July 30 to 18:00 on August 9 (UTC+8). The L3/USDT spot trading pair will be open at 18:00 on July 30 (UTC+8). In addition, a special event for CandyBomb trading and mining Layer3 (L3) will be launched. During the event, you can get a prize ticket and share the prize pool by completing L3 spot trading and contract trading tasks. The total prize pool is 725,000 L3. The event time is from 18:00 on July 30 to 18:00 on August 6 (UTC+8).
Project dynamics:
Aptos Ecosystem AMM Trading Platform Liquidswap’s LSD Token Will Be Listed on July 30
Aptos Ecosystem AMM trading platform LiquidSwap DAO token LSD will be listed on July 30, with the following initial distribution: 40% allocated to the community, including 16% for the community treasury, 15% for airdrops and rewards, 1% for public sales, and 8% for exchange liquidity), and a total of 46.7% for private investors in 2021 and 2023. Of the 15% of airdrops and rewards, the initial retroactive airdrop is 5%, 2% is used to test ve equity incentives, and 8% DAO controls future airdrops and staking incentives. In addition, 42 million LSD will be minted at the genesis and will be available within 3 years.
Governance Voting:
The Renzo community proposes to allocate 500 million REZ tokens for community incentives within 5 months, and voting will start on July 30
Renzo, a liquidity re-staking protocol, has launched a proposal discussion, planning to allocate 500 million REZ tokens (5% of the total supply) for community incentives within 5 months. The proposal includes 400 million REZ tokens retroactively allocated to eligible wallets, and 100 million REZ tokens used to reward DEX liquidity providers and increase the liquidity of the ezETH/ETH and pzETH/wstETH pools. Voting will start on July 30 and last for 5 days.
Token unlocking:
Tornado Cash (TORN) will unlock approximately 91,000 tokens at 11:30 am Beijing time on July 30, accounting for 2.41% of the current circulation and worth approximately $220,000
July 31
Project dynamics:
TrueUSD: Users must convert BEP2-TUSD to TUSD tokens of other network standards before July 31
Stablecoin issuer TrueUSD issued a reminder on the X platform that BEP2-TUSD holders need to convert their BEP2-TUSD to TUSD tokens of other network standards through the TUSD website before July 31, 2024.
Application deadline for Arbitrum Foundation Phase 3 grant program extended to July 31
The Arbitrum Foundation said on the X platform that the application deadline for the third phase of the grant program has been extended to July 31. The third phase focuses on dApps.
BNB Chain: "Become a Champion Builder" hackathon will be held in Q3, and project submissions will start on July 31
According to the official announcement of BNB Chain, the "Become a Champion Builder" hackathon will be held in the third quarter of 2024, with a prize pool of more than $500,000. The time nodes are as follows: Workshop: July 23, 2024-August 08, 2024; Submission time: July 31, 2024-August 15, 2024; Top 10 demos: August 28, 2024; Winners announcement: September 2, 2024; Project incubation: September 2, 2024-October 2, 2024. Participating developers can leave a message in the official comment area of BNB Chain on the X platform.
RWA Credit Agreement Zivoe Raises $8.35 Million in Funding, Plans to Launch Its Credit Agreement on July 31
Zivoe, a real-world asset (RWA) credit protocol, has raised $8.35 million in funding from investors including Andrew Keys, Iceberg Capital, and Concave. Zivoe plans to launch its credit protocol on July 31, connecting on-chain liquidity and real-world borrowers through blockchain technology, providing lower interest loans, and interacting directly with consumers in the long term. The launch will also include an initial batch offering (ITO), where participants can obtain risk-graded loan investments and income opportunities by providing liquidity.
Token unlocking:
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 am on July 31, Beijing time, accounting for 2.79% of the current circulation, with a value of approximately US$54.5 million.
Echelon Prime (PRIME) will unlock approximately 750,000 tokens at 8:00 am Beijing time on July 31, accounting for 1.75% of the current circulation, with a value of approximately US$5.6 million.
1inch (1INCH) will unlock about 15,000 tokens at 8:00 pm Beijing time on July 31, worth about $5,500
August 1
Thai digital wallet registration will be open from August 1 to September 15
According to Jinshi, market sources said that Thailand's digital wallet registration will be open from August 1 to September 15. Thailand's Deputy Minister of Finance said that digital cash consumption will begin in the fourth quarter, and the digital wallet plan is expected to attract 45 million participants. The government has prepared 450 billion baht in funds.
Exchange:
Coinbase International expects to launch perpetual futures trading on Dymension, Maker and Aave as early as 17:30 on August 1
Coinbase International Exchange announced that it will start supporting perpetual futures trading for Dymension, Maker, and Aave at or after 17:30 Beijing time on August 1, 2024. These new markets will be available on Coinbase International Exchange and Coinbase Advanced platforms, with the corresponding trading pairs being DYM-PERP, MKR-PERP, and AAVE-PERP.
Project dynamics:
Pixelverse: Unclaimed airdropped tokens will be transferred to the community incentive pool on August 1
Telegram eco-crypto game Pixelverse said on the X platform that when users claim airdropped tokens, they will be automatically added to the permanent staking. If the user who received the airdrop does not claim the tokens, these tokens will be automatically transferred to the community incentive pool at 23:59 UTC on July 31 (7:59 Beijing time on August 1).
SEND: Starting August 1st, all team supply will be distributed linearly over the next 3 years
Solana Blinks Ecological Meme Project SEND announced on the X platform that 10% of the tokens will be airdropped in the next few days, all through Blinks, to reward the Blinks community, including Send it holders, Blinks developers and artists, Blinks users, and active Solana communities. The remaining 15% of the community airdrop will be targeted at Blinks users and adoption, and will be distributed through official incubation products. In addition, SEND stated that the treasury (35%) will be used entirely for Blinks adoption through marketing, grants, and development. There are already 25% of the tokens as the initial circulating supply, and the team intends to continue distributing tokens in the coming months and have the majority of the circulating supply (>50%) on the market. Starting on August 1, 2024, all team supplies will be distributed linearly over the next 3 years. In addition, the team plans to launch more new products.
Ctrip's NFT series "Trekki" will be officially terminated on August 1
According to Trekki NFT's official Twitter account, the NFT series "Trekki" project incubated by Ctrip Group will be officially terminated on August 1, 2024. The official website, discount page and coupons, and Trekki NFT benefit collection functions will be retained until July 1, 2025. All development functions and community operations in the second phase will be terminated. The Trekki team said that it does not rule out the possibility of restarting the project in the future.
Governance Voting:
Animoca proposes to launch a new $10 million fund ApeCoin Ventures in partnership with ApeCoin. Voting will close on August 1.
According to Snapshot information, Animoca Brands' venture capital department Animoca Ventures proposed to co-found a joint venture fund ApeCoin Ventures with ApeCoin in ApeCoin DAO, which intends to invest in Web3 projects in the seed and A rounds, and give priority to projects that can integrate ApeCoin into its ecosystem, thereby increasing the value, practicality, synergy, network effect and influence of ApeCoin. The ApeCoin Ventures fund size is US$10 million, of which ApeCoin DAO needs to allocate US$5 million worth of APE (Animoca Ventures intends to sell it for legal currency), and Animoca Ventures will invest US$5 million. The proposal is currently open for voting, with a current support rate of 83.49%, and voting will end on August 1.
The Arbitrum Foundation has opened a proposal to “deploy new Orbit to any blockchain”, which will be voted on until August 1st
The Arbitrum Foundation’s proposal to “modify the Arbitrum scaling plan to allow new Orbit chains to be deployed on any blockchain (such as Bitcoin, Binance Smart Chain, Cosmos, etc.), not just Ethereum” is being voted on on the Snapshot platform, aiming to increase the number of deployments, thereby increasing ArbitrumDAO’s revenue, and addressing confusion over the definition of deployment.
If ArbitrumDAO approves the deployment of Orbit Chain on any chain, the Arbitrum Foundation will be responsible for collecting 10% of Orbit Chain profits and transferring them to the ArbitrumDAO treasury (8%) and the Arbitrum Developer Guild (2%). Currently, 99.89% of the votes support deployment to any blockchain, and the voting will end on August 1.
Token unlocking:
Sui (SUI) will unlock approximately 64.19 million tokens at 8:00 am Beijing time on August 1, accounting for 2.56% of the current circulation, with a value of approximately US$50.6 million.
ZetaChain (ZETA) will unlock approximately 53.89 million tokens at 8:00 am Beijing time on August 1, accounting for 18.92% of the current circulation and worth approximately US$34.8 million.
DYDX (DYDX) will unlock approximately 8.33 million tokens at 8:00 am Beijing time on August 1, accounting for 3.65% of the current circulation, with a value of approximately US$10.8 million.
Manta Network (MANTA) will unlock approximately 1.87 million tokens at 7:59 am Beijing time on August 1, accounting for 0.50% of the current circulation and worth approximately US$1.8 million.
August 2
Project dynamics:
MapleStory Universe: The first pioneer test of MapleStory N will end on August 2
MapleStory Universe, an NFT game project under South Korean gaming giant Nexon, said in an official blog that its pioneer test will be from July 24 to August 2. During the pioneer test, participants will have the opportunity to experience MapleStory N before its official release later this year. The test will showcase key blockchain elements of the game, including a limited supply reward system and a user-driven pricing system. In addition, testers can also experience the Zakum Boss content available in Simple Mode (entry level 50 and above) and Normal Mode (entry level 90 and above). MapleStory N is a PC-based MMORPG that combines blockchain technology with the MapleStory IP and is the first game launched in MapleStory Universe.
Web3 game Forgotten Runiverse migrates to Ronin network and will end closed beta on August 2
According to the official Twitter account of Ronin Network, the fantasy pixel-style Web3 game Forgotten Runiverse has officially migrated to the Ronin network. Forgotten Runiverse is an MMORPG that has been in development for three years, integrating games, community story building, NFT collection, multimedia ecosystem and peripheral products. The game will be closed beta from July 31 to August 2, and the public beta will begin in August. Forgotten Runiverse will be a free game that supports mobile and desktop, aiming to attract more new players to the Ronin network. Game team members have participated in the development of well-known games such as "The Elder Scrolls Online", "Diablo", "Overwatch", "World of Warcraft", "Far Cry 3", "Rainbow Six Siege" and "Street Fighter".
Token unlocking:
Galxe (GAL) will unlock approximately 4.17 million tokens at 8:00 am Beijing time on August 2, accounting for 3.52% of the current circulation, with a value of approximately US$13.6 million.
Euler (EUL) will unlock approximately 49,500 tokens at 5:00 a.m. Beijing time on August 2, accounting for 0.27% of the current circulation and worth approximately $230,000.
August 3
Exchange:
Indian crypto exchange WazirX will implement a socialized loss strategy where all users share losses fairly. Users must complete their choice by August 3
According to an important update announcement released by Indian cryptocurrency exchange WazirX, a recent cyber attack resulted in the theft of approximately $230 million (equivalent to 45% of user funds). WazirX announced that it will implement a fair and transparent socialized loss strategy to ensure that all users share the impact fairly. The strategy allows users to immediately access 55% of their assets, while the remaining 45% will be converted into tokens of the equivalent value of USDT and locked.
Users can choose between two asset management options, each with specific benefits and conditions. The unlocked 55% of assets will create a balanced portfolio through a basket of crypto assets available on the platform. If the 55% of unlocked assets include affected tokens, the affected portion will be replaced with unaffected crypto assets. The value of the unlocked assets will be calculated based on the average price of CoinMarketCap and selected global exchanges at 8:30 pm (IST) on July 21, 2024. Users must complete their selection before 7:00 am (IST) on August 3, 2024. The results of this vote will be used as a reference for the final decision, taking into account the survey results, platform liquidity and other circumstances.
Project dynamics:
MEET48: The final results of the second Web3.0 Global Idol Popularity Ranking "2024 GIPR2" will be announced on August 3
The second Web3.0 Global Idol Popularity Ranking "2024 GIPR2" event officially started at 12:00 on June 1, and the interim results were announced on June 23 and July 14, respectively, and the final results were announced on August 3. The event is divided into idol group, amateur group and virtual group. Users can log in to the MEET48 official website and APP to complete tasks and watch contestants' videos to obtain points, mint NFTs, and use points to purchase voting tickets to vote for idols. The final voting ranking will determine the Metaverse and overseas offline performance resources obtained by the contestants. Users who participate in voting interactions will also be included in the whitelist and lock in the subsequent airdrop qualifications.
Token unlocking:
Wormhole (W) will unlock about 600 million tokens at 7:30 pm Beijing time on August 3, accounting for 33.33% of the current circulation, with a value of about US$174 million.
August 4
Token unlocking:
Ethena (ENA) will unlock approximately 14.89 million tokens at 3:00 pm Beijing time on August 4, accounting for 0.87% of the current circulation and worth approximately US$6.9 million.
Liquity (LQTY) will unlock approximately 493,000 tokens at 8:00 am Beijing time on August 4, accounting for 0.51% of the current circulation and worth approximately US$400,000.
Forta (FORT) will unlock about 50,000 tokens at 8:00 am Beijing time on August 4, accounting for 0.01% of the current circulation, with a value of about US$8,500
Specific time to be determined
Policy supervision:
Analysts: Next week will be a "super central bank week", and there is no sign that the Fed will cut interest rates ahead of schedule or by more than 25 basis points
Next week, the market will usher in a "super central bank week" when the Bank of Japan, the Bank of England and the Federal Reserve will announce their interest rate decisions. These three central banks are likely to make or hint at major monetary policy decisions. On Friday, the United States will also release the latest non-farm payroll data. Due to the remarks of Federal Reserve Chairman Powell, this data may be the focus of whether the Federal Reserve can cut interest rates as expected in September.
Analyst Cameron Crise said that the U.S. PCE price index was roughly in line with expectations, but as mentioned earlier, after some revisions, the year-on-year change in the core data was slightly higher than expected. Considering the market's general forecast, the new level of the core index was also slightly higher than expected. He pointed out that these data were not enough to prevent the Fed from cutting interest rates in September, but there was no sign that the Fed needed to cut interest rates earlier or by more than 25 basis points.
Senator Lummis plans to introduce a proposal next week for the U.S. Treasury to purchase 1 million Bitcoins over 5 years
Wyoming Senator Cynthia Lummis said at the Bitcoin 2024 conference that she will introduce a proposal next week to direct the U.S. Treasury to buy 1 million bitcoins (worth about $68 billion at current prices) over five years. She said the move is to offset the impact of the depreciation of the U.S. dollar. "Bitcoin is a great store of value. It's been growing about 55% per year over the last four years or so. Over the same period, the dollar has depreciated and we've seen inflation rise." The senator added: "So, I think there's value in having a hard asset that's backing the dollar and that's growing in value rather than falling."
Project dynamics:
Jupiter Co-creation: Voting on a proposal to reduce the supply of JUP will begin next week
Jupiter co-founder Meow said on the X platform that this is an extremely important week for JUP:
Monday: JUP Essay;
Tuesday: Community audit of JUPs distributed to date;
Wednesday: Token supply reduction proposal;
Thursday: Voting;
Friday-Saturday: Discussion;
Sunday: Draw conclusions.
By the end of next week, the community will have reached a high level of understanding and alignment.
