A list of the most noteworthy industry events and important project developments in the coming week.
- Bitcoin's genesis block will celebrate its 15th anniversary.
- Privacy blockchain Beam will undergo its second halving on January 3.
- The proposal "CAKE's maximum supply reduced from 750 million to 450 million" officially took effect on January 4.
- OKX will delist 20 privacy coin-related spot trading pairs on January 5.
- Approximately 26.86 million USD worth of SUI was unlocked on January 3.
Don't miss out on the Web3 major events this month (January 2024). The following is a preview of the exciting events this month:
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Important Events
The 15th anniversary of Bitcoin's genesis block is approaching. On January 3, 2009 (January 4, 2009 Beijing time), Bitcoin's mysterious founder, Satoshi Nakamoto, mined the first block of the Bitcoin network on a small server in Helsinki, the capital of Finland. Nakamoto received the first 50 bitcoins as a mining reward, and his true identity remains unknown to this day. As of the time of writing, Bitcoin's block height has reached 823946, and the block reward is currently 6.25 bitcoins after undergoing 3 halvings, which will further halve to 3.125 bitcoins in May this year.
Digital bank Revolut will suspend some cryptocurrency services for UK business customers starting from January 3, 2024. At that time, UK customers will not be able to purchase cryptocurrencies through Revolut Business, although they can still hold and sell cryptocurrencies. Retail customers will not be affected. Revolut stated that the suspension is to allow more time to adapt to the new rules set by the UK Financial Conduct Authority (FCA), which will come into effect on January 8, 2024, including a 24-hour "cooling-off period" for investors and the prohibition of "refer a friend" bonuses and other incentives.
Worldcoin founder Sam Altman, who is also associated with OpenAI, is considering selling employee shares at a valuation of 860 billion USD. OpenAI employees will have until January 5 to decide whether to participate in the stock sale plan. In November 2023, some investors withdrew from the acquisition offer after Sam Altman was fired. However, after Sam Altman resumed the position of CEO, there was sufficient demand from investors to compensate for the portion that exited the transaction.
OKX will delist 20 spot trading pairs related to privacy coins on January 5. OKX stated that these tokens do not meet its listing standards and did not provide further details. Specifically, on January 4, 2024, from 16:00 to 16:30, KSM-USDC, FLOW-USDC, JST-USDC, KNC-USDC, ANT-USDC, FSN-USDT, ZKS-USDT, CAPO-USDT will be delisted; on January 5, 2024, from 16:00 to 16:30, XMR-BTC, XMR-ETH, XMR-USDT, XMR-USDC, DASH-BTC, DASH-USDT, ZEC-BTC, ZEC-USDT, ZEC-USDC, ZEN-BTC, ZEN-USDT will be delisted.
In response, the official Horizen statement expressed that since its shielded pool has been deprecated, ZEN is no longer a privacy coin, and they hope OKX will reconsider the classification of the token.
Project Developments
The development team of STEPN's subsidiary, Find Satoshi Lab, launched the Web3 social MMO game "Gas Hero" on January 3, 2024, at 11:00. The game is set in a futuristic world and combines elements of combat and strategy, using STEPN's token GMT as the in-game currency. A community test was previously conducted from November 24 to December 8.
Privacy blockchain Beam will undergo its second halving on January 3, 2024, marking the end of the Beam Treasury release, 5 years after the mainnet launch. Miners (currently limited to GPUs) will mine 20 new Beams per minute, instead of 40. The second halving also represents the point at which 60% of Beam's circulation will be reached. According to the Beam official website, Beam adopts fair issuance, with no pre-mining or ICO, and follows a deflationary issuance plan, starting from 100 BEAM per block, halving regularly. The total supply is 262,800,000 BEAM. In the first five years (up to January 3, 2024), 20% of block issuance revenue will go into the Beam Treasury.
BakerySwap will launch the BRC20 fourth phase project BendDAO (BDIN) on January 4, 2024, with a total locked value (FDV) of 500,000 USD, and will only support BAKE and 1CAT participation.
Upcoming Events
DWF Labs 2024 Web3 Incubation Program applications are open until 16:00 on January 5, 2024, focusing on areas such as SocialFi, ZK, trading and derivatives, EVM, and BTC ecosystem.
The deadline for applications for the Sui Academic Research Awards in this round is January 4, 2024, covering areas such as technology, finance, and economics. The designated grant for this round will reach 250,000 USD. The nine selected projects in the previous round mainly involved token economics, smart contract mechanisms, and cross-chain gaming, with a grant amount of 225,000 USD.
Token Unlocking
According to Token Unlocks data, from January 1st to January 7th, SUI, GAL, and HFT tokens will undergo a new unlocking this week. Approximately 26.86 million USD worth of SUI will be unlocked on January 3rd at 16:00, accounting for about 3.35% of the circulating supply. Approximately 7 million USD worth of GAL will be unlocked on January 5th at 16:00, accounting for approximately 3.3% of the circulating supply. Approximately 5.1 million USD worth of HFT will be unlocked on January 7th at 16:00, accounting for about 4.8% of the circulating supply.
Governance Voting
The PancakeSwap community's proposal to "reduce the maximum supply of CAKE from 750 million to 450 million" has been approved and will officially take effect on January 4th. The reasons for implementing this adjustment include: the community has a more accurate estimate of the incentives needed for the future growth of the CAKE token, and to achieve deflation and ensure sufficient growth flexibility for CAKE.
The TrueFi DAO voting for the election of a new TrueFi Foundation board of directors will conclude on January 5th.
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