News Preview:
- Sky Protocol will raise the savings rates DSR, SSR, and various vault types' stability fees on December 9;
- Microsoft will review a proposal to "evaluate investment in Bitcoin" at its annual shareholder meeting on December 10;
- Projects such as Movement, Magic Eden, U2U Network, KIP Protocol, and Suilend will conduct token generation events (TGE);
- The city of Vancouver is considering incorporating Bitcoin into its financial system, with the city council set to review a related proposal from Mayor Ken Sim on December 11;
- Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 AM Beijing time on December 11, representing 0.05% of the current circulation, valued at about $22 million;
- Aptos (APT) will unlock approximately 11.31 million tokens at midnight Beijing time on December 12, representing 2.11% of the current circulation, valued at about $160 million;
- The new accounting rules for Bitcoin fair value by the U.S. Financial Accounting Standards Board (FASB) require companies to officially adopt Bitcoin fair value accounting for fiscal years starting after December 15.
December 9
Exchanges:
OKX will list MOVE (Movement) spot trading on December 9
OKX is set to launch MOVE (Movement) with the following schedule:
• Deposit opening time: December 4, 2:00 PM (UTC+8)
• Auction time: December 9, 7:00 PM to 8:00 PM (UTC+8)
• Spot trading opening time: December 9, 8:00 PM (UTC+8)
• Withdrawal opening time: December 10, 6:00 PM (UTC+8)
It is reported that Movement Network is a community-first blockchain that provides excellent TPS performance through the Move language, instant finality, instant native access to massive liquidity, and modular customization.
Binance Wealth Management has launched on-chain earning, allowing users to participate in various on-chain protocols and earn returns through their Binance accounts. The first product for on-chain earning is Babylon Bitcoin staking, where users can stake Bitcoin into the Babylon protocol and earn on-chain returns.
Subscription will open on December 9, 2024, at 2:00 PM (UTC+8), with a limit of 1,000 Bitcoins, on a first-come, first-served basis. The minimum subscription amount per account is 0.05 BTC, and the maximum is 5 BTC. Please note that the on-chain earning page will go live on December 9, 2024, at 12:00 PM (UTC+8).
Project Updates:
Sky Protocol (formerly MakerDAO) announced on the X platform that following the approval of the latest executive vote, the following parameter changes will take effect on December 9 at 5:24 AM (UTC+8).
Savings rate updates:
- Sky Savings Rate (SSR) will increase to 12.5%, and Dai Savings Rate (DSR) will increase to 11.5%.
Stability fee parameter updates:
- ETH stability fees will increase: ETH-A to 12.75%, ETH-B to 13.25%, ETH-C to 12.5%.
- WSTETH stability fees will increase: WSTETH-A to 13.75%, WSTETH-B to 13.5%.
- WBTC stability fees will increase: WBTC-A to 16.25%, WBTC-B to 16.75%, WBTC-C to 16%.
Anzen Finance: ANZ tokens are set to be claimable on Fjord Foundry on December 9
Anzen Finance officially announced on the X platform that its ANZ token sale on Fjord Foundry, with a $60 million FDV and a $5.8 million market cap, has been completed. Since all tokens have been sold out, ANZ tokens will be available for claim on December 9 at 8:07 AM Eastern Time, and an airdrop allocation will also be distributed to users holding z-points. It is reported that the Anzen team and investors have a 6-month cliff period, and over time, the majority of ANZ tokens will enter circulation as ecosystem rewards.
Token Unlocking:
World Mobile Token (WMTX) will unlock approximately 5 million tokens at 8:00 AM Beijing time on December 9, representing 0.00% of the current circulation, valued at about $2.7 million.
Community Events:
The Abu Dhabi Bitcoin MENA Summit will be held from December 9 to 10, with Eric Trump set to speak
Eric Trump, the son of former President Donald Trump, will speak at the Bitcoin MENA Summit in Abu Dhabi on December 9 and 10.
December 10
Exchanges:
Binance will delist GFT, IRIS, KEY, OAX, REN on December 10
Binance has decided to stop trading and delist the following cryptocurrencies on December 10, 2024, at 11:00 AM (UTC+8): Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), Ren (REN). Binance emphasizes that it will regularly review the digital assets listed to ensure high standards of coin quality. When a token no longer meets listing standards or there are significant changes in the industry environment, a deep project review will be conducted, and it may be delisted.
Binance will enforce self-trade prevention for all Binance contract users starting December 10
Starting December 10, 2024, at 2:00 PM (UTC+8), Binance will enforce self-trade prevention (STP) for all Binance contract users. With this update, STP will cover spot, leverage, and contract trading on the Binance platform.
Project Updates:
Microsoft's shareholder meeting on December 10 will review the Bitcoin investment proposal
At its annual shareholder meeting on December 10, Microsoft will include the proposal to "evaluate investment in Bitcoin" as a voting item. The proposal was put forward by the conservative think tank The National Center for Public Policy Research, but the board recommends that shareholders vote against it, stating that it is "unnecessary" and that the company's management has "carefully considered" the relevant issues. Microsoft stated in a filing with the U.S. Securities and Exchange Commission that its global finance team regularly evaluates various investment assets, including cryptocurrencies, for diversification and risk management. Although Bitcoin has been considered in the past, the board has not made further investment decisions due to factors such as volatility. If the proposal passes, Microsoft will become the largest publicly traded crypto investment company, surpassing MicroStrategy and Tesla.
The modular L1 network U2U Network's U2U token will be listed on multiple exchanges, including Kucoin, MEXC, Gate.io, and BingX.
- Kucoin will open U2U token deposits on the Ethereum ERC20 network at 6:00 PM Beijing time on December 9, with U2U/USDT trading starting at 6:00 PM on December 10.
- MEXC will list the U2U/USDT trading pair in the innovation zone at 6:00 PM Beijing time on December 10.
- Gate.io announced the listing of the startup project U2U Network (U2U), which will only support GT for subscription, with the subscription opening from 2:00 PM Beijing time on December 8 to 2:00 PM on December 10; U2U/USDT trading will start at 6:00 PM on December 10.
- BingX will open U2U token deposits at 6:00 PM Beijing time on December 9, with trading starting at 6:00 PM on December 10.
KIP Protocol announces TGE on December 10, with node holders eligible for KIP airdrop
The decentralized AI underlying protocol KIP Protocol announced that it will conduct the KIP token TGE on December 10. KIP is a Web3 infrastructure built for AI app developers, model creators, and data owners, allowing for easy deployment and monetization of AI assets while fully retaining ownership. To date, KIP has implemented real use cases of DeAI in various fields, including education, entertainment (AI Agent), biotechnology, and government, with total financing exceeding $10 million.
ME Foundation: ME token TGE will take place on December 10 at 10:00 PM
The ME Foundation announced that the ME token generation event (TGE) will take place on December 10 at 10:00 PM Beijing time. According to information from the official Magic Eden Discord channel, users must complete the setup of their wallet address (save and exit) by December 8; otherwise, they will not be able to claim the token airdrop on December 10.
Token Unlocking:
Bitget Token (BGB) will unlock approximately 5.38 million tokens at 8:00 AM Beijing time on December 10, representing 0.38% of the current circulation, valued at about $14.4 million.
Staika (STIK) will unlock approximately 1.5 million tokens at 8:00 AM Beijing time on December 10, representing 0.00% of the current circulation, valued at about $2.2 million.
December 11
Policy and Regulation:
In the context of Bitcoin surpassing $100,000 and setting a historical high, the city of Vancouver is considering incorporating Bitcoin into its financial system. The Vancouver City Council will review a proposal put forward by Mayor Ken Sim titled "Protecting the City's Purchasing Power through Financial Reserve Diversification - Creating a Bitcoin-Friendly City" on December 11.
The U.S. Senate Banking Committee plans to vote on December 11 to decide whether to renominate SEC Commissioner Caroline Crenshaw, a skeptic of cryptocurrency. Several executives in the crypto industry have expressed disappointment regarding her potential reappointment, as Caroline Crenshaw is one of the two SEC commissioners who opposed the approval of a spot Bitcoin ETF. According to Bloomberg ETF analyst James Seyffart, Caroline Crenshaw is not only an "ally" of current SEC Chair Gary Gensler but also "more strongly opposed to cryptocurrency" than Gensler himself.
Exchanges:
Binance will remove leveraged trading pairs BAND/BTC, AVA/BTC, etc., on December 11
Binance announced that it will remove the following leveraged trading pairs on December 11, 2024, at 2:00 PM (UTC+8):
• Cross-margin leverage: BAND/BTC, GTC/BTC
• Isolated margin leverage: AVA/BTC, BAND/BTC, GTC/BTC, HIGH/BTC, PERP/BTC, STPT/BTC
Project Updates:
OP Governance Season 6 will end on December 11
The OP governance Season 6, which started on June 27 by Optimism, will continue until December 11. This season's theme is "Optimizing Support for the Superchain." The governance season aims to advance the decentralization process, attract more public chains to join the superchain, and promote the growth of application developers on the superchain. Through this series of measures, Optimism is committed to enhancing the scalability and diversity of its blockchain ecosystem.
Token Unlocking:
Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 AM Beijing time on December 11, representing 0.05% of the current circulation, valued at about $22 million.
Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 PM Beijing time on December 11, representing 0.44% of the current circulation, valued at about $12.9 million.
io.net (IO) will unlock approximately 2.11 million tokens at 8:00 PM Beijing time on December 11, representing 1.68% of the current circulation, valued at about $7.5 million.
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 AM Beijing time on December 11, representing 0.61% of the current circulation, valued at about $5.9 million.
Moonbeam (GLMR) will unlock approximately 3.04 million tokens at 8:00 AM Beijing time on December 11, representing 0.33% of the current circulation, valued at about $1.1 million.
December 12
Exchanges:
Members of the Korean Digital Asset Exchange Association (DAXA) will terminate trading support for Radiant Capital (RDNT). The decision was made because the project's foundation did not submit an explanation regarding the reasons for the trading warning designation, and after reviewing the losses caused by security incidents and the foundation's public stance, it was determined that it did not meet the standards for maintaining trading support. Bithumb will end trading support for RNDT at 3:00 PM local time on December 12, 2024. It is reported that the Korean Digital Asset Exchange Association (DAXA) consists of the five major crypto exchanges in Korea: Upbit, Bithumb, Coinone, Korbit, and Gopax.
Project Updates:
aelf's first halving will take place on December 12, reducing block rewards to 0.0625 ELF
The AI-enhanced Layer 1 public chain aelf announced that its first halving will occur at 3:30 PM Beijing time on December 12, expected to happen at a main chain block height of 246,500,000. Since its mainnet launch in 2020, aelf has been operating stably for four years. aelf COO Brian Liang stated that this halving is not just a reduction in block rewards but also represents the continuous evolution of aelf as a sustainable and innovative blockchain ecosystem. According to the aelf white paper, the network allocates 12% of ELF tokens for block rewards, halving every four years. After the halving, the block reward will decrease from 0.125 ELF to 0.0625 ELF.
Eigen Labs plans to launch an upgraded version of Rewards v2, aimed at providing greater flexibility, efficiency, and customization for rewards within the EigenLayer ecosystem. The testnet will be deployed on the Holesky testnet on December 12, with the mainnet deployment scheduled for January next year. This proposed upgrade is also the first EigenLayer improvement proposal (ELIP) to use the EigenLayer governance process (EigenGov) recently announced by the Eigen Foundation. The Rewards v2 upgrade proposal expands the platform's reward capabilities and introduces several features: Operator-oriented rewards: AVS can reward operators based on performance or custom logic. Variable operator fees: Operators can set their own rates based on AVS, providing economic flexibility and attracting diverse participation. Batch reward claiming: Stakers and Operators can claim multiple rewards in a single transaction, reducing gas costs.
Suilend announces its SEND token will officially launch on December 12
The Sui ecosystem lending protocol Suilend announced that its SEND token will officially launch on December 12, with the distribution checker now online. According to official sources, the SEND token distribution is as follows:
• Early users: Users before the launch of Suilend Points in May 2024 will receive 2% of SEND.
• Suilend Points: Account for 18% of the total SEND supply.
• Rootlets: Distributed in three airdrops, totaling 3.333%, with each airdrop being 1.111%, the first airdrop will be available for claim at launch.
• Capsule NFTs: Account for 0.3%, distributed based on rarity (common, rare, and ultra-rare each 0.1%).
• Bluefin League holders: Receive 0.05% of SEND.
• SEND-PERP traders on Bluefin: Receive 0.125% of SEND.
• Eco NFTs and MEMECOINS: Fixed distribution per address.
Users can check their airdrop eligibility and prepare to claim through the official website.
Token Unlocking:
Aptos (APT) will unlock approximately 11.31 million tokens at midnight Beijing time on December 12, representing 2.11% of the current circulation, valued at about $160 million.
Fusionist (ACE) will unlock approximately 850,000 tokens at 8:00 AM Beijing time on December 12, representing 2.01% of the current circulation, valued at about $2.9 million.
Aurora (AURORA) will unlock approximately 5.33 million tokens at 8:00 AM Beijing time on December 12, representing 0.96% of the current circulation, valued at about $1.5 million.
December 13
Policy and Regulation:
The National Intellectual Property Administration has released the "Guidelines for Patent Applications Related to Artificial Intelligence (Draft for Comments)" and is publicly soliciting opinions. The guidelines aim to help patent applicants better understand the patent examination policies in the field of artificial intelligence, improve application quality, and address hot legal issues of concern to innovative entities. The deadline for submitting opinions is December 13, 2024, and the public can submit their opinions via email, fax, or mail.
Exchanges:
Binance will support the Horizen (ZEN) network upgrade on December 13
Binance is expected to suspend token deposits and withdrawals for Horizen (ZEN) network at 01:00 AM (UTC+8) on December 13, 2024, to support its network upgrade. This move aims to provide users with a quality experience. The project team will conduct the network upgrade at block height 1,679,880 (expected at 02:00 AM UTC+8 on December 13, 2024).
December 14
None
December 15
Policy and Regulation:
According to the new fair value accounting rule for Bitcoin issued by the Financial Accounting Standards Board (FASB), companies will officially adopt fair value accounting for Bitcoin in fiscal years starting after December 15. This rule change means that companies like MicroStrategy, Tesla, and Block will be able to record the high and low values of their cryptocurrency holdings. Under the new regulations, companies holding cryptocurrencies like Bitcoin or Ethereum will need to record these tokens at fair value, which is the latest market value. Changes in fair value will be directly reflected in net income.
Under the new rules, companies must record their crypto assets as a separate line item on their balance sheets. They must also disclose the amount of cryptocurrency held and any restrictions on those holdings in the footnotes of each reporting period. Annually, they must reconcile or disclose changes in the beginning and ending balances of crypto assets by category.
Exchanges:
Binance supports airdrop of MONKY to FLOKI holders, snapshot on December 15
Binance announced support for the airdrop of Wise Monkey (MONKY) to FLOKI (FLOKI) holders, with the snapshot taking place at 08:00 AM (UTC+8) on December 15, 2024. The airdrop ratio is 0.35 MONKY for each FLOKI held, and rewards will be distributed proportionally based on the amount held at the time of the snapshot.
Developer Activities:
The new BNB Chain hackathon will open project submissions on December 15
The new BNB Chain hackathon has been launched, with a prize pool exceeding $458,000, open for global Web3 developers to register. This event has no preset theme, allowing developers to explore areas such as stablecoins and DeFi, Telegram-based DApps, AI-driven DApps, and new narratives. Workshops began on November 26, with project submission dates from December 15 to 24, and the winners will be announced on January 16, 2025, followed by a one-month technical incubation period. The final six winning projects will receive incubation support and interview opportunities for the MVB program, as well as the chance to participate in sponsor challenges like UXUY to win exclusive rewards.
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