Next week's highlights
Yuga Labs' LotM game Season 1 open test will start on September 26;
JPEX "dividend plan" will be put to a public vote on September 28, legislators have warned of risks;
EthereumHolesky testnetwill restart on September 28;
FTX reminder: September 29 is the deadline for customers to submit claims.
Arbitrum Odyssey will be relaunched next week.
From September 18 to September 24, the following events are worth noting:
September 25
Binance will update its fiat liquidity provider program on September 25
According to the official announcement, Binance will update its fiat liquidity provider program at 8:00 on September 25. Some fiat liquidity providers will be audited weekly based on a new performance review mechanism, and from 8:00 on October 2, order fee rebates will be allocated based on the liquidity provider's spot trading performance in selected fiat markets.
The announcement stated that users with a 30-day trading volume exceeding 20 million USDT or equivalent on platforms such as Binance Spot and Margin, and demonstrating a high-quality liquidity provision strategy, will be invited to join the fiat liquidity provider program.
Coinbase has informed some customers via email that the company plans to stop providing trading services to Indian users on September 25, and advises users to withdraw all funds from their accounts in a timely manner, and has already banned registrations for Indian users.
After launching in the South Asian market over a year ago, Coinbase has been facing regulatory challenges. Coinbase spent 18 months re-launching its services in India, but has made no progress with the local government, leading to the departure of at least two prominent executives, including Durgesh Kaushik, who joined the company as Senior Director of Market Expansion last year.
It is reported that Coinbase is an investor in Indian mainstream cryptocurrency exchanges CoinDCX and CoinSwitch Kuber. (TechCrunch)
Bitstamp will stop offering ETH staking services to US users on September 25
Bitstamp will stop offering ETH staking services to US users on September 25. Bobby Zagotta, CEO of Bitstamp US, stated that users will continue to receive staking rewards until September 25, 2023, after which all staked assets will be unstaked and returned to users' accounts. (Cointelegraph)
Lawyer: Core Scientific may reach a restructuring plan before September 25
At a bankruptcy hearing on Monday, a lawyer for Core Scientific stated that the company should "shorten the restructuring timetable by at least one month" as creditors have urged it to expedite its exit from Chapter 11 bankruptcy protection.
The lawyer for Core Scientific stated that the company may reach a restructuring plan before September 25.
Last November, following the collapse of FTX and a sharp drop in Bitcoin prices, Core Scientific, once the largest cryptocurrency mining company, saw its stock price plummet. The company went public with a valuation of $4.3 billion in 2021, but by the time it filed for bankruptcy in December of last year, its market value had fallen to $78 million. (CoinDesk)
Notional V3 fixed-rate lending protocol beta will be launched on September 25
According to official sources, the beta version of the fixed-rate lending protocol Notional V3 will be launched on Arbitrum on September 25.
September 26
SEC urges court to allow testimony from Do Kwon, Do Kwon plans to submit a response on September 26
In the lawsuit brought by the SEC against Terraform Labs and co-founder Do Kwon, Do Kwon has been asked to provide testimony. Meanwhile, Do Kwon is still serving time in a Montenegrin prison on passport fraud charges until the end of this year; the extradition process has not yet begun.
According to court documents filed on September 22, the SEC is urging the court to allow notice of testimony to be served on defendant Do Kwon. In addition, if Do Kwon's testimony is difficult to obtain, the SEC also proposes alternative arrangements and urges the court to prohibit the use of any statements made by Do Kwon in summary judgment.
Defendants Terraform Labs and Do Kwon plan to submit a response on September 26. The SEC has submitted more detailed information in support of this motion in a memorandum.
Earlier, Judge Jed Rakoff refused to agree with Judge Torres's ruling in the Ripple vs. SEC lawsuit. The latest developments in the court case are unfavorable to the SEC, as a federal judge has called the SEC's actions hypocritical, arbitrary, and capricious. (CoinGape)
Web3 bug bounty platform Immunefi announced on X platform that it will launch a new product "capable of changing the bug bounty mechanism," with detailed information to be released at 10:00 Eastern Time on September 26 (22:00 Beijing Time).
Odaily News: OpenSea stated that during yesterday's BlockGames NFT mint, there was a logic issue with the OpenSea platform's allowlist, allowing certain wallets to bypass the expected mint limit. OpenSea is currently working with the BlockGames team to support the reopening of mint next week.
BlockGames added that the new mint date is scheduled for 16:00 UTC on September 26 (00:00 Beijing time on September 27). All refunds will be announced and processed before the mint reopens. The allowlist will not be updated (only those who violate mint rules will be removed from the list).
UniSat: brc20-swap to enter early public testing phase on September 26
Odaily News: According to official sources, UniSat announced that brc20-swap will enter the early public testing phase on September 26. Over 400 invitation inscriptions have been distributed for free to its community members today, and the official will continue to occasionally distribute over 200 additional invitations in the coming days.
Yuga Labs' LotM game Season 1 open test will start on September 26
Odaily News: According to official sources, Yuga Labs' LotM game Season 1 open test will start on September 26. During the first season, users can hatch Mara, and as Koda holders, they can start collecting shards and hunting fractures in advance. Loot from the test version will be forgeable at the end of each season and will include continuously expanding game items for LotM.
Note: LotM introduces a new NFT series "Mara," which can evolve into Koda, a small bipedal creature that exists on 10% of the initial 100,000 Otherdeed lands.
Casio to launch virtual G-SHOCK watch NFT on Polygon, public sale starts on September 26
Odaily News: Casio announced the launch of its virtual G-SHOCK watch on the Polygon blockchain. The project will start with an NFT-based G-SHOCK creator pass, allowing holders to join a dedicated Discord channel to vote on the appearance design of the watch.
Starting from September 23, Casio will distribute 15,000 NFT-based G-SHOCK creator passes to users, and Casio customers who have registered on the company's membership website with a CASIO ID can participate in the presale from September 23 to 26, followed by the public sale from September 26 to 29. (The Block)
Odaily News: After a period of testing, Lumerin, a decentralized hash power routing protocol launched by BTC mining pool operator Titan, will launch a decentralized Bitcoin hash power market on Arbitrum.
The new platform will be officially launched on September 26, aiming to eliminate the "peaks and valleys" in Bitcoin mining operations, allowing both miners and non-miners to buy and sell hash power and set parameters (such as hash power quantity, duration, and price) through smart contracts.
Lumerin claims that its platform can help achieve decentralization in Bitcoin mining by allowing anyone to buy, sell, and trade hash power on an open market. (The Block)
September 27
Odaily News: Fox Business News reporter Eleanor Terrett posted on X platform that Patrick McHenry, Chairman of the House Financial Services Committee, confirmed that SEC Chairman Gary Gensler will attend the "Oversight of the SEC" hearing scheduled for 10:00 Eastern Time on September 27 (22:00 Beijing time).
The 118th Ethereum ACDC meeting: Devnet-9 to be launched on September 27
Odaily News: Christine Kim, Vice President of Galaxy Research, summarized the 118th Ethereum Core Developer Consensus Meeting (ACDC), which mainly discussed the preparations for Devnet-9 and changes to the Ethereum Consensus Layer (CL).
Devnet-9 is the second testnet, including a full set of code changes in the Dencun upgrade. Devnet-9 will be the first testnet to activate EIP-7514 and EIP-7516, both of which were added to the Dencun upgrade at the execution layer meeting last week.
Parithosh Jayanthi, DevOps engineer at the Ethereum Foundation, stated that his team will launch Devnet-9 on September 27; client teams such as Lodestar, EthereumJS, Lighthouse, and Geth have confirmed their readiness for this testnet release.
September 28
JPEX "dividend plan" to complete public vote on September 28, legislators have warned of risks
Odaily News: The unlicensed virtual asset trading platform JPEX recently proposed a "DAO stakeholder dividend plan" and stated that on the first day of the public vote, 70% of participating users agreed to the plan. The vote will continue until 20:00 on September 28 to decide whether to implement the plan.
Hong Kong legislator Wong Chun Shu warned that under the related plan, investors can receive a maximum of 49% in dividends, indicating that the decision-making power still lies with JPEX. Investors should be particularly aware that transitioning from creditors to shareholders does not mean they can retrieve their investment funds, and if the company incurs debt, it will lead to users being "held liable for the debt." (Oriental Daily)
Earlier, JPEX announced on September 20 that due to the serious impact of the Securities and Futures Commission (SFC) incident, which led to the malicious locking of funds by a third-party market maker it cooperated with, the platform temporarily faced unprecedented difficulties. Referring to Bitfinex's successful handling method in the past and making improvements, JPEX will launch the "DAO stakeholder dividend plan."
The platform will distribute 49% of DAO stakeholder dividends to the public, and existing users can exchange their assets currently held on the platform for DAO stakeholder dividends at a 1:1 ratio. Users can participate in the public vote starting from September 21, deciding whether to implement the plan. JPEX will continue to operate normally until the public vote is completed and a result is obtained.
Nethermind Ethereum client releases version V1.20.4, will restart Holesky testnet on September 28
Odaily News: The Ethereum client Nethermind has released version V1.20.4 and will restart the Holesky testnet at 12:00 UTC on September 28 (Epoch 1695902400).
Stratos blockchain mainnet goes live, decentralized storage mainnet to launch on September 28
Odaily News: Blockchain technology and decentralized infrastructure solution Stratos announced that the Stratos blockchain mainnet has gone live. In addition, the Stratos decentralized storage mainnet will launch on September 28.
September 29
Odaily News: Data from The Block shows that Bitcoin options worth over $30 billion and Ethereum options worth around $18 billion on Deribit are set to expire on September 29.
Luuk Strijers, Chief Business Officer at Deribit, emphasized the similarities between the cryptocurrency market and traditional financial markets as the options expiration date approaches, especially on quarterly expiration dates: "This could lead to increased trading volumes and volatility. Market maker actions may exacerbate market volatility, especially leading up to the options expiry. Market makers will adjust hedges to accommodate changes in the underlying asset price." (The Block)
FTX reminder: September 29 is the deadline for submitting claims
Odaily News: Cryptocurrency exchange platform FTX reminds its customers that the deadline for submitting proof of claims is 16:00 Eastern Time on September 29 (04:00 Beijing Time on September 30). Users are advised to log in to the customer claims portal to begin the claims process. FTX requires customers to provide KYC information during the claims process, and the KYC verification process will continue after the deadline.
Additionally, for accounts previously frozen due to the bankruptcy claims agent Kroll cybersecurity incident, FTX sent a separate notification on September 17, 2023.
Odaily News: According to official sources, the Solana Foundation has allocated $250,000 to solicit RWA open protocol standards across the industry. The standards requirements include but are not limited to implementing the following functions: issuer fund recall transaction suspension, issuer whitelist, third-party custody, SEC and MiCA filing verification, dividend distribution, loan details, default conditions, and property ownership (real estate). The application deadline is September 29.
dYdX to cancel trader fee discounts and resume normal fees on September 29
Odaily News: According to official sources, dYdX announced an update to the V3 fee schedule, canceling all trader fee discounts for dYdX traders and resuming normal fees at 13:00 Eastern Time on September 29 (01:00 Beijing Time on September 30). Hedgie holders will be eligible for a 3% fee discount.
September 30
Odaily News: OneKey announced that starting from September 30, 2023, OneKey Card will stop accepting new user applications from the following countries or regions: mainland China, Iran, North Korea, Syria, Russia, North Macedonia, Sudan, Venezuela, and Zimbabwe. OneKey stated that users who have already activated their cards will not be affected and can continue to use them normally. This action is taken to strictly comply with local laws and regulatory requirements.
Odaily News: Layer1 blockchain network aelf announced the launch of the Aelevate program. Aelevate will support studio transformation and blockchain game development by providing up to $150,000 in funding to each studio to help developers integrate, build, and release their games on the aelf network.
Aelevate is open to all game developers, and successful applicants will receive end-to-end support in two main aspects: the technical ecosystem and the business ecosystem.
The application for the Aelevate program is now open and will close on September 30. The first round of funding for the Aelevate program will be distributed in October. (PRNewswire)
October 1
Bybit to suspend operations in the UK in response to regulatory changes starting from October
Odaily News: Cryptocurrency exchange Bybit will suspend its operations in the UK next month in response to regulatory changes.
Starting from October 1, new customers will not be able to open accounts; from October 8, existing customers will not be allowed to add funds, create new contracts, or increase positions. However, the company stated in an article on its website that customers will be able to reduce and close positions and withdraw funds from the platform. (CoinDesk)
Odaily News: In an email sent to some users on August 14, PayPal stated that due to new rules introduced by the Financial Conduct Authority (FCA) in the UK, PayPal will temporarily suspend its cryptocurrency purchase services in the UK starting from October 1, 2023, and will resume in early 2024, with no specific date provided.
PayPal did not specify the rules involved but indicated that these rules would require them to "implement additional steps before customers can purchase cryptocurrency."
Despite the inability to purchase cryptocurrency, PayPal stated that users will be able to hold and sell their cryptocurrency during the service interruption. PayPal did not specify whether users will be able to transfer cryptocurrency to other wallets and exchanges, but at present, this feature seems to only apply to US users.
PayPal assured users that their cryptocurrency remains secure and stated that holding cryptocurrency will not incur fees.
It is reported that the UK will start implementing the cryptocurrency Travel Rule in September 2023, requiring cryptocurrency companies to collect information about the parties involved in transactions, although the September deadline for this rule seems to be inconsistent with PayPal's service changes in October. The FCA has also recently introduced new rules for cryptocurrency advertising promotions, aiming to control how cryptocurrency is promoted or advertised to potential investors, which will take effect in October. (Cryptoslate)
Lybra Finance announces the launch of Lybra V2, LBR holders need to migrate to V2 by October 1
Odaily News: Lybra Finance announced the launch of Lybra V2, and LBR holders are required to migrate to V2 by 08:00 on October 1 (UTC+8).
Other (specific time undetermined)
Arbitrum Odyssey to relaunch next week, in collaboration with Galxe and lasting for 7 weeks
Odaily News: According to official sources, Arbitrum Odyssey will relaunch next week, and this edition of Odyssey will be in collaboration with the Web3 community activity platform Galxe, lasting for 7 weeks. Completing tasks and exploring 13 projects on Arbitrum One will earn participants custom badges.
The new Arbitrum Odyssey will include the following 13 projects: GMX, Aboard, tofuNFT, Uniswap, ApeX Protocol, 1inch Network, Premia Blue, DODO, Swapr, Treasure, BattleFly DAO, handle.fi, SushiSwap.
dYdX founder: Mainnet expected to launch at some point in early to mid-October
September 29
Odaily News: dYdX founder Antonio Juliano stated in an interview that the dYdX mainnet was originally scheduled to launch at the end of September but was later delayed, possibly to be launched at some point in early to mid-October. Juliano mentioned that the construction is almost complete and is currently in the final testing stage.
Antonio Juliano also mentioned that dYdX actively complies with regulations and has been in timely communication with the CFTC. dYdX has never offered derivative products to US customers, so it will not face regulatory charges like other cryptocurrency companies due to compliance issues. (CoinDesk)
SOMA Finance plans to issue SOMA tokens at the end of September or early October
Odaily News: SOMA Finance, a joint venture between MANTRA and Tritaurian Capital, announced its plan to launch the first legally issued and structurally compliant digital security to global and US retail investors later this month. The company plans to sell a batch or multiple batches of tokens worth $5 million, with the initial batch priced at $2.50 per token. Token holders will be entitled to a 10% dividend from SOMA profits. SOMA Finance plans to issue SOMA tokens at the end of this month or early October.
SOMA Finance is a multi-asset decentralized exchange (DEX) and an issuance platform for tokenized stocks, digital assets, and NFTs. (CoinDesk)
Silvergate Bank CEO resigns, CFO to leave by the end of September
Odaily News: At the cryptocurrency-friendly bank Silvergate, three executives are leaving the company. According to filings with the Securities and Exchange Commission, CEO and President Alan Lane and Chief Legal Officer John Bonino left the company on August 15. Silvergate's CFO Antonio Martino will resign by September 30.
These three executives will receive a severance package but will no longer receive compensation from the company. Silvergate's Chief Risk Officer Kathleen Fraher will serve as the "Chief Transition Officer" for the company and the bank after Lane's departure. Chief Accounting Officer Andrew Surry will assume the responsibilities of the Chief Financial Officer. The company stated, "Currently, the company does not anticipate appointing a President and CEO of the company, a CEO of the bank, or a CFO of the company and the bank, given the plan to pursue bank liquidation."
Odaily News: Australian FinTech company Block Earner plans to launch a loan product with cryptocurrency as collateral. Block Earner is expected to introduce this type of product for the first time by the end of September, initially supporting Bitcoin collateralized loans. (Cointelegraph)
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