Highlights Preview:
- Blast: Dapps must allocate all Gold and Points to users by June 25th to be eligible for the airdrop
- AltLayer (ALT) will unlock approximately 105 million tokens at 6:00 PM on June 25th Beijing time, accounting for 6.92% of the current circulation, worth about $20.3 million;
- Blast announced that the airdrop event will start on June 26th;
- The first TV debate between Biden and Trump will take place on June 27th, covering topics such as the economy and inflation
- Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 AM on June 30th Beijing time, accounting for 2.88% of the current circulation, worth about $56.7 million;
- The EU's crypto market regulation MiCA is approaching a key deadline on June 30th
June 24th
Exchanges:
Coinbase Assets tweeted that Metal L2 announced the migration of MTL from the Ethereum mainnet through an airdrop. Coinbase will not support the token airdrop and will suspend trading of Metal DAO (MTL) at around 2:00 AM Beijing time on June 15th. Coinbase has transferred MTL orders to limit order mode. Limit orders can be placed and canceled, and may be matched. MTL funds will continue to be available to users, who can withdraw funds at any time. Users must transfer MTL assets to a self-custody wallet that supports MTL V2 before 11:00 AM on June 24th Beijing time to ensure access to airdropped assets.
South Korean crypto exchange GDAC will cease trading services on June 24th and close on July 16th
South Korean cryptocurrency exchange GDAC announced the closure of its services on July 16th. Cryptocurrency trading services on GDAC will no longer be available starting from 11:00 local time on June 24th.
Project Updates:
AI Arena's NRN token will officially launch on June 24th
The AI-driven Web3 competitive game AI Arena's $NRN token will officially launch on June 24th, 2024. Users can start claiming tokens at 3:00 PM Beijing time on June 24th (UTC 7:00 am) and the first batch of trading will commence at 4:00 PM (UTC 8:00 am) on centralized exchanges (CEX). Earlier this year, it was reported that AIArena established the CortX Foundation and announced the NRN token economics.
ZK Nation announced on X platform that ZKsync (ZK) airdrop claiming has been opened. Users' claiming transactions will be queued, and ZK tokens may take a few minutes to appear in the wallet. Gas fees will be fully covered by ZKsync paymaster. In addition, Protocol Guild, external project contributors, and ZKsync native project contributors will be able to start claiming from June 24th, 2024.
June 25th
Regulatory Policies:
EU regulatory agencies consider MEV as market abuse, consultation feedback deadline is on June 25th
According to the proposed technical standards for regulating the crypto asset market (MiCA) by the European Securities and Markets Authority (ESMA), Maximum Extractable Value (MEV) is a clear example of market abuse. Furthermore, ESMA's draft standards also propose cooperative enforcement, urging authorities within and outside the EU to cooperate in sanctioning market abuse. This means that participants in MEV may face investigations and enforcement actions not only from EU regulatory agencies but also from international authorities. The consultation feedback deadline set by ESMA is on June 25th, and the final standards are expected to have a significant impact on the EU's crypto regulatory environment.
Project Updates:
Blast: Dapps must allocate all Gold and Points to users by June 25th to be eligible for the airdrop
Ethereum L2 network Blast stated on X platform that there are 3 weeks left until the Blast airdrop, and a final Gold allocation will be made before the airdrop. Dapps must allocate all Gold and Points to users by 9:00 PM Beijing time on June 25th to be eligible for the airdrop. Specific requirements include: 1. Points and Gold must be in the user's EOA to be eligible for the airdrop. 2. Points and Gold remaining in smart contracts before the airdrop date will be excluded from the calculation. Any suspicious or internal Dapp allocations will be audited and may result in blacklisting for future collaborations.
If users have Points or Gold in their EOA account, they must have logged into the Blast dashboard at least once (by accepting an invitation or linking it to an existing account) to be eligible for the airdrop calculation. Don't forget to link embedded wallets, such as Privy. If users have received Points or Gold from a Dapp but have never logged into the Blast dashboard, they should do so as soon as possible.
IO.NET: Daily block rewards for IO Workers will start being distributed from June 25th
The decentralized AI computing and cloud platform IO.NET announced on X platform that block rewards are about to go live, and daily rewards for IO Workers will start being distributed from June 25th. Each day, verified running time rewards will be automatically credited to the "Income and Rewards" tab in IO Worker.
BNB Greenfield testnet is expected to undergo the Veld hard fork on June 25th
According to the official announcement, the decentralized data storage network BNB Greenfield is about to undergo the Veld hard fork, with significant updates and optimizations to the platform. The testnet is expected to undergo the Veld hard fork at block height 9,581,218. Based on the current block interval, it is expected to occur at 3:00 PM Beijing time on June 25th. The mainnet is expected to undergo the hard fork at block height 9,269,910. Based on the current block interval, it is expected to occur at 3:00 PM Beijing time on July 8th. Validators and storage providers should upgrade to the latest version before the hard fork. The hard fork will not affect users' account balances.
The US Bankruptcy Court plans to hold the next hearing on FTX on June 25th
According to a recent email shared by Henri Arslanian, the cryptocurrency lead at PwC, FTX's liquidator PwC has released an update on the liquidation process. Clients of FTX or FTX International (Dotcom clients) have the right to file claims in the Bahamian or US proceedings. At this stage, if the bankruptcy protection plan is approved, Dotcom clients are expected to receive between 119 to 143 cents per dollar claimed. For clients who have submitted debt claims in the Bahamian proceedings, FTX will send a letter in the future to confirm if they wish to continue addressing the claims in the Bahamian process. Clients who have not yet submitted debt claims in the Bahamian process can do so before the deadline, currently expected to be in mid-August 2024. Additionally, after the court approves the bankruptcy protection debtor's restructuring plan, FTX will confirm the date and next steps in writing. The hearing date planned by the US Bankruptcy Court is on June 25, 2024.
Token Unlock:
Acala (ACA) will unlock approximately 4.66 million tokens at 8:00 AM on June 25th Beijing time, accounting for 0.46% of the current circulation, worth about $330,000;
AltLayer (ALT) will unlock approximately 105 million tokens at 6:00 PM on June 25th Beijing time, accounting for 6.92% of the current circulation, worth about $20.3 million;
June 26th
Regulatory Policies:
The Zimbabwean government is seeking public feedback on cryptocurrency operations to develop regulatory policies in this area. The government stated that, in light of global trends and best practices, Zimbabwe is evaluating and understanding the full scope of cryptocurrencies and inviting all cryptocurrency service providers serving Zimbabwean clients, whether operating domestically or internationally, to provide suggestions and feedback. To this end, the government has established a committee responsible for consulting with operators in the virtual asset ecosystem and hopes to receive feedback by June 26th.
Project Updates:
Ethena introduces ENA Symbiotic staking rewards and will launch the ENA pool on June 26th
Regarding ENA Symbiotic staking rewards details, after the ETH LST cap was filled within a few days, ENA and sUSDe will become eligible assets for staking in the next epoch. ENA staked in Symbiotic will receive the following rewards: 1. A maximum Ethena multiplier of 30x per ENA daily; 2. Symbiotic points; 3. Mellow points; 4. Potential future LayerZero RFP allocations (if allocated to Ethena). The ENA pool will launch on Wednesday, June 26th.
Regarding restaking ENA in the Ethena Chain, Ethena Chain will focus on building financial applications and infrastructure on top of USDe, serving as the gas token and pivot asset within the system. Restaked ENA will provide general security for each use case in the following applications: spot AMM, perpetual DEX, yield trading, money markets, low-collateral loans, on-chain brokers, options and structured products, as well as on-chain infrastructure solutions: cross-chain transfers, oracle providers, shared sequencers, data availability solutions. In return, they may be eligible to benefit from potential airdrops from these protocols in the future.
Blast announces the start of the airdrop event on June 26th
Pacman, the founder of Blast, stated on X platform: "I have seen some people speculating that Blast's delay in the airdrop plan is to coincide with the market, overall, I think trying to time the market is meaningless. The schedule has been delayed simply because we need more time for development. The delay is indeed terrible, and we have put in a lot of effort to find solutions, but the ultimate conclusion is that it must be done, and we believe that doing so will bring more value than cutting corners (launching early)." Earlier reports stated that Blast announced the start of the airdrop event on June 26th. The airdrop event will start on June 26th. This is later than the initially anticipated date in May, and to compensate for the delay, the airdrop allocation will be increased. Before the airdrop, there will be two final Dapp Gold allocations.
Exchanges:
Bitget's Innovation Zone and Layer 2 Zone will list Blast on June 26th
Blast (BLAST) will officially list on Bitget Exchange's Innovation Zone and Layer 2 Zone on June 26th. The specific arrangements are as follows: the recharge time is to be determined, trading will open at 22:00 on June 26, 2024 (UTC+8), and withdrawals will open at 23:00 on June 27, 2024 (UTC+8). The spot trading pair is BLAST/USDT. Blast is a Layer 2 solution with built-in native yield functionality, and users' balances on Blast will automatically generate compound interest. It was previously reported that Blast will start the airdrop event in a week, and participants need to prepare in advance to be included in the airdrop calculation.
June 27th
Regulatory Policies:
Last month, Democratic President Biden challenged his Republican predecessor Trump to an early debate, proposing to abandon the decades-old fall debate tradition, and the latter accepted the challenge. The two debates will be hosted by CNN on June 27th and September 10th. CNN stated that the debates will include two ad breaks, during which campaign staff are not allowed to interact with the candidates, and there will be no audience in the studio. According to a campaign memo obtained by Reuters, Biden will have three topics in the first debate, including abortion rights, the state of democracy, and the economy. Trump's team pointed out that immigration, public safety, and inflation are key issues before the debate.
Project Updates:
Coinbase International Exchange announced that it will start supporting perpetual futures trading for Altlayer (ALT), Lido DAO (LDO), and Pendle (PENDLE) on June 27, 2024, 9:30 UTC or later. These new markets will be available on the Coinbase International Exchange and Coinbase Advanced platforms, corresponding to the trading pairs ALT-PERP, LDO-PERP, and PENDLE-PERP.
The DeFi protocol Orderly Network, based on Near, has announced its official launch on the Ethereum mainnet. Users can now trade directly from the base layer, achieving a more seamless experience. Additionally, decentralized exchanges (DEX) on the Ethereum mainnet can now offer perpetual contract trading supported by Orderly Network. Furthermore, Orderly Network has announced the allocation of 10% of the $ORDER tokens to early users, totaling 100 million tokens. This airdrop is aimed at traders in the NEAR ecosystem, and users need to bind their wallets before June 27th to receive the tokens. Orderly is a full-chain derivative liquidity layer project aimed at integrating full-chain derivative liquidity and providing liquidity and settlement support for any asset, any public chain, and any product interface.
The decentralized public network Nillion is launching a community round of financing on CoinList, with the purchase period starting at 01:00 on June 20, 2024 (Beijing time) and ending at 01:00 on June 27, 2024. The community round will use the same $4 billion valuation as Series A and provide the same (or higher) token supply ratio as Series A. The community round has a public option and two different launch categories. Previously in December 2022, Web3 startup Nillion completed a $20 million financing.
Token Unlock:
Yield Guild Games (YGG) will unlock approximately 16.69 million tokens at 10:00 PM on June 27th Beijing time, accounting for 4.48% of the current circulation, worth about $10.7 million;
June 28th
Project Updates:
Blockchain game Metalcore will launch the MCG token on June 28th
According to the official Twitter account, the game company Studio 369's mech combat game MetalCore's MCG (MetalCore Governance Token) will officially launch on June 28th.
Token Unlock:
SingularityNET (AGIX) will unlock approximately 8.57 million tokens at 8:00 AM on June 28th Beijing time, accounting for 0.67% of the current circulation, worth about $5.7 million;
June 29th
No updates
June 30th
Regulatory Policies:
EU's crypto market regulation MiCA will reach a key deadline on June 30th
The key deadline for the EU's MiCA (Markets in Crypto-Assets) regulation is approaching on June 30th, which will impact member states' regulation of the cryptocurrency and digital asset markets. MiCA also affects stablecoins, influencing their issuance, operation, and regulation within the EU. MiCA is regulated by the European Securities and Markets Authority (ESMA) and was approved by the European Parliament in April 2023—mandating higher regulatory requirements for stablecoins issued in the region.
The implementation of MiCA is being phased, and the upcoming deadline primarily requires crypto asset service providers and other entities operating in this field to comply with certain provisions specified in the regulations, including registration and KYC/AML requirements, marking the end of the transition period for businesses that were already operating before MiCA was passed. Entities that do not comply with the regulations may face fines and be prohibited from operating within the EU until they meet regulatory requirements. Other provisions, including some applicable to stablecoins, are being gradually implemented, and full compliance is required in all aspects by December 2024. Requirements for stablecoin issuers also include mandatory registration and affect their issuance, operation, and regulation within the EU.
While existing stablecoin issuers must adjust their operations to comply with certain MiCA requirements starting from the June 30th deadline, the strictest requirements (such as capital and reserve obligations) will come into full effect later, ensuring existing businesses have a transition period to adapt. Stablecoin issuers operating outside the EU but serving EU residents also need to comply with MiCA regulations, which may lead to significant changes in their global operations and compliance strategies.
Project Updates:
The decentralized artificial intelligence computing and cloud platform IO.NET will allocate a total of 7.5 million IO in the third season Ignition reward program, from June 1, 2024, to June 30, 2024, focusing on incentivizing Workers' participation. The snapshot for the third season will be taken randomly on June 30, 2024. To be eligible: Workers must pass proof-of-work verification (automatically run every hour) and must be active during the snapshot period. For active Workers during the snapshot period, their normal running time in June will be calculated to generate the final points allocated to the Workers. The claiming period for the third season will be announced before the end of the third season. After the IO token is launched, Workers will receive "block rewards" on top of the rewards for the third season.
BRC721 stated on the X platform that the protocol will be suspended, and the indexer, API, and image processing servers will stop on June 30th.
Ether.fi's second season airdrop will end on June 30th
The non-custodial liquidity staking protocol Ether.fi previously announced that the second season airdrop started on March 15th and will end on June 30th. The longer the staking period, the higher the loyalty points rewards for users. The second season airdrop will distribute 50 million tokens, accounting for 5% of the supply.
Bithumb's NFT market will close on June 30th
According to the "Korea Daily," some large corporate conglomerates in South Korea, including SK Group, LG CNS, and CJ Group, may face significant losses in their investments in Bithumb's metaverse company Bithumb Meta's NFT trading platform NAEMO Market. NAEMO Market has been in a loss-making state since its establishment, despite receiving 17 billion Korean won in funding from Bithumb Meta's parent company Bithumb Korea and attracting nearly 10 billion Korean won (approximately $7.3 million) in investments from the aforementioned large companies. However, with NAEMO Market set to close on June 30th, these investments will be in vain, and these South Korean corporate conglomerates may collectively lose nearly 10 billion Korean won.
Token Unlock:
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 AM on June 30th Beijing time, accounting for 2.88% of the current circulation, worth about $56.7 million;
Echelon Prime (PRIME) will unlock approximately 750,000 tokens at 8:00 AM on June 30th Beijing time, accounting for 1.83% of the current circulation, worth about $8 million;
Tornado Cash (TORN) will unlock approximately 90,000 tokens at 11:30 AM on June 30th Beijing time, accounting for 2.41% of the current circulation, worth about $285,000;
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