Weekly Preview | The second phase of Aster Genesis ends; YZi Labs incubation program Easy Residency Season 2 launches

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News Preview:

  • YZi Labs' incubation program Easy Residency Season 2 will launch on October 6, covering the fields of Web3, AI, and biotechnology;
  • Binance Alpha will list Everlyn AI (LYN) and KGeN (KGEN);
  • The UK's FCA will open retail channels for cryptocurrency ETNs on October 8;
  • The Federal Reserve will release the minutes of its monetary policy meeting;
  • Linea (LINEA) will unlock approximately 1.08 billion tokens at 7 PM Beijing time on October 10, accounting for 6.57% of the current circulation, valued at about $29.6 million;
  • Enso has opened the airdrop query and pre-registration page, with user registration closing on October 12;
  • Aptos (APT) will unlock approximately 11.31 million tokens at 4 AM Beijing time on October 12, accounting for 2.15% of the current circulation, valued at about $62.3 million;

October 6

Exchanges:

Aster Genesis Phase 2 will end on October 6, Phase 3 will include spot trading volume

Decentralized exchange Aster announced that Aster Genesis Phase 2 will end at 23:59 UTC on October 5 (07:59 Beijing time on October 6). There are still 2 cycles left, and users can continue to trade and earn Rh points—4% of the total supply of ASTER has been allocated for Phase 2 rewards. Phase 3 will follow, incorporating spot trading points and updating the reward mechanism.

Binance Alpha and Binance Futures will list Everlyn AI (LYN) on October 6

Binance Alpha will list and open trading for Everlyn AI (LYN) at 15:00 (UTC+8) on October 6. Additionally, Binance Futures will launch the LYNUSDT perpetual contract at 15:30 (UTC+8) on the same day, with a maximum leverage of up to 50 times. All eligible Binance users will receive an exclusive token airdrop. Eligible users need to claim the airdrop using Binance Alpha points through the Binance Alpha event page between 15:00 (UTC+8) on October 6 and 15:00 (UTC+8) on October 7.

It is reported that the on-chain video platform Everlyn will have its TGE on October 6, with the token name LYN.

OKX will suspend KSM deposits and withdrawals on October 6 to support its network migration to Asset Hub

OKX announced that to support the official network migration plan of Kusama (KSM), the platform will suspend KSM token deposits and withdrawals at 12:00 noon Beijing time on October 6. The migration of the Kusama network to Asset Hub is expected to take place at 16:00 Beijing time on October 7. OKX stated that trading of KSM will not be affected during the network migration, and users holding KSM do not need to take any action. Deposit and withdrawal functions will resume once the network stabilizes.

Project Updates:

USD1 will launch on Aptos on October 6

USD1 will receive first-day support from multiple projects within the Aptos ecosystem on October 6, including DeFi protocols Echelon Market, Hyperion, Thala Labs, Panora Exchange, and Tapp Exchange. Additionally, wallets and exchanges such as Petra Wallet, Backpack, OKX, and OneKey will also provide support.

Play Solana's handheld gaming console PSG1 will start shipping on October 6

Play Solana announced that the first-generation handheld gaming console PSG1 will start shipping on October 6, and the device will come with a built-in Solana wallet.

YZi Labs' incubation program Easy Residency Season 2 will launch on October 6, covering Web3, AI, and biotechnology

The global founder residency program EASY Residency Season 2 will launch on October 6, 2025, and run until December 5, covering the fields of Web3, AI, and biotechnology. This program collaborates with the MVB project of the BNB chain, offering investments of up to $500,000, top mentor guidance, and market support. The residency program will establish global hubs, including Dubai, San Francisco, New York, and Singapore, aiming to help founders break geographical limitations and focus on solving real-world problems.

October 7

Exchanges:

Binance Alpha will list KGeN (KGEN) on October 7

Binance Alpha will list KGeN (KGEN) on October 7. Eligible users can go to the Alpha event page to claim the airdrop using Binance Alpha points after trading opens. Further details will be announced separately.

October 8

Policy and Regulation:

The UK's FCA will open retail channels for cryptocurrency ETNs on October 8

The UK's Financial Conduct Authority (FCA) announced that it will open retail channels for cryptocurrency exchange-traded notes (ETNs), stating that businesses will soon be able to allow retail investors access to cryptocurrency ETNs. The cryptocurrency ETNs that retail investors can trade must be listed on UK investment exchanges approved by the FCA. The FCA added that the ban on retail access to crypto asset derivatives will remain in effect, and it will continue to monitor market developments and consider how to handle high-risk investments. This change will take effect on October 8, 2025.

Exchanges:

Bithumb: To support the mainnet upgrade, POL deposits and withdrawals will be suspended from 5 PM on October 8

South Korean cryptocurrency exchange Bithumb announced that to support the Polygon (POL) mainnet upgrade, the platform will suspend POL token deposits and withdrawals starting at 5 PM (Beijing time) on October 8. The Polygon (POL) mainnet upgrade is expected to take place at 9:36 PM (Beijing time) on the same day. Bithumb stated that trading services for POL will continue as normal during the suspension of deposits and withdrawals. The deposit and withdrawal services will reopen once the network stabilizes, with specific timing to be announced later.

Project Updates:

Base mainnet will undergo Optimism Superchain U16A upgrade on October 8

Base Build on platform X stated that the Base mainnet will undergo the Optimism Superchain U16A upgrade from 1:00 AM to 3:00 AM Beijing time on October 8, which will temporarily invalidate pending withdrawals from the Base mainnet to Ethereum L1, while deposits and on-chain activities will continue as usual. Users should ensure that all pending withdrawal transactions are completed before 1:00 AM on October 8.

October 9

Macroeconomics:

The Federal Reserve will release the minutes of its monetary policy meeting at 2:30 AM Beijing time on October 9.

Policy and Regulation:

The China Securities Regulatory Commission will allow qualified foreign investors to participate in ETF options trading starting October 9

The China Securities Regulatory Commission recently announced that, in consultation with the People's Bank of China and the State Administration of Foreign Exchange, it will allow qualified foreign investors to participate in on-exchange ETF options trading starting from October 9, 2025, with trading purposes limited to hedging.

Project Updates:

The National Natural Science Foundation of China opens applications for research related to stablecoins, with applications closing on October 9

According to the official website of the National Natural Science Foundation of China, the 2025 third phase emergency management project focuses on global stablecoin risk governance and cross-border collaborative regulatory systems. The project includes a main topic and five sub-topics, covering stablecoin structural evolution, risk transmission, monetary sovereignty impact, financial intermediary shocks, and global regulatory frameworks. The application deadline is 4 PM on October 9, with priority given to overall team applications, although individual projects can also receive funding. Each sub-topic funding does not exceed 200,000 yuan, and the total project funding does not exceed 300,000 yuan, with a research period of 10-12 months.

BIT Mining will hold a special shareholders' meeting on October 9 to decide whether to rename itself to SOLAI

According to the announcement from BIT Mining Limited, the company plans to change its name to SOLAI (NYSE: SLAI) to reflect its strategic transformation and deep involvement in the Solana ecosystem. The name SOLAI combines the Latin word for "sun" (SOL) with the vision of Solana, symbolizing the company's focus on high-performance blockchain systems and AI-driven innovation. The company's board has resolved to change the English name and stock code, pending approval at the special shareholders' meeting on October 9. BIT Mining has recently deployed Solana validator nodes and launched a $300 million ecological strategy, aiming to become a long-term contributor to the blockchain network and promote decentralization and ecological resilience.

October 10

Policy and Regulation:

The Hong Kong Monetary Authority seeks banking industry opinions on cryptocurrency asset classification standards, consultation ends on October 10

The HKMA recently released a consultation draft of the "Regulatory Policy Manual" CRP-1 unit "Classification of Cryptocurrency Assets," aiming to further clarify the Basel capital regulatory standards for cryptocurrency assets that will be implemented in early 2026 and to initiate industry consultation to seek opinions from the banking sector. The manual categorizes cryptocurrency assets into two groups. The first group includes tokens linked to traditional assets and stablecoins with effective stabilization mechanisms, which will be treated similarly to equivalent traditional assets. The second group consists of unsecured tokens, such as Bitcoin and Ether, as well as ineligible tokenized assets and stablecoins, which will be subject to comprehensive capitalization and stricter treatment. The new standards will take effect on January 1, 2026, and public consultation is currently open to the banking sector, with the consultation deadline set for October 10.

The U.S. SEC suspends stock trading of digital asset treasury companies QMMM and Smart Digital before October 10

The U.S. Securities and Exchange Commission (SEC) has suspended trading of QMMM Holdings Ltd. stock after the company's share price surged nearly 1000% in less than three weeks. The SEC stated on Monday that recommendations to buy QMMM stock posted by "unknown individuals" on social media may have manipulated its stock price. Since QMMM announced plans to establish a "diversified cryptocurrency treasury" with an initial scale of $100 million, targeting investments in Bitcoin, Ethereum, and Solana, its stock price has soared by 959%. The SEC stated that this trading suspension is a temporary measure and will end at 11:59 PM Eastern Time on October 10.

On Monday, the SEC also suspended trading of Smart Digital Group Ltd. stock for similar reasons. This trading suspension will also end at 11:59 PM Eastern Time on October 10. The company announced last week that it would establish a "diversified cryptocurrency asset pool," focusing on investments in digital assets such as Bitcoin and Ethereum. Since the announcement, its stock price has significantly declined.

Project Updates:

On-chain identity project Phi will have its TGE on October 10, with an airdrop accounting for 9.2%

The on-chain identity project Phi tweeted that the PHI token will launch on the Base network with AerodromeFi in October 2025 as the native token of the Phi ecosystem. The total supply of PHI is 1 billion tokens, with the TGE scheduled for October 10 at 8:00 PM. PHI will only be traded on Aerodrome and will not be listed on centralized exchanges, aiming to fairly open the market for the community. The distribution plan for PHI is as follows: core contributors 18.0%, supporters 13.6%, liquidity 5.0%, airdrop rewards (over 3 years) 9.2%, community incentives (over 3 years) 12.80%, treasury 41.40%.

TON Strategy Company plans to use TON staking rewards for stock buyback program, will stake nearly all by October 10

TON Strategy Company (NASDAQ: TONX) has staked 82% of its Toncoin ($TON) reserves and expects to stake nearly all by October 10 to generate returns. The company stated that after announcing a $250 million buyback plan on September 12, it has repurchased 1,505,500 shares. Assuming the current $TON price and yield remain unchanged, full staking could generate approximately $24 million annually for continued buybacks when the TONX stock price is significantly below NAV. The company disclosed that as of September 26, TAV was $10.37 per share, with cash of $56.6 million and total equity of approximately $61 million.

Token Unlocking:

Linea (LINEA) will unlock approximately 1.08 billion tokens at 7 PM Beijing time on October 10, accounting for 6.57% of the current circulation, valued at about $29.6 million;

Babylon (BABY) will unlock approximately 321 million tokens at 6 PM Beijing time on October 10, accounting for 24.74% of the current circulation, valued at about $17.4 million;

October 11

No updates

October 12

Project Updates:

Enso opens airdrop query and pre-registration page, user registration will close on October 12

The crypto intent engine protocol Enso has opened an airdrop query and pre-registration page. Qualified addresses that complete registration can apply for ENSO token airdrop allocation on the mainnet. Additionally, during the pre-registration period, users can choose pre-staking durations based on different APYs. User registration must be completed by 11:00 PM Beijing time on October 12, after which unregistered addresses will lose their allocation.

Token Unlocking:

Aptos (APT) will unlock approximately 11.31 million tokens at 4 AM Beijing time on October 12, accounting for 2.15% of the current circulation, valued at about $62.3 million;

peaq (PEAQ) will unlock approximately 8.484 million tokens at 8 AM Beijing time on October 12, accounting for 5.95% of the current circulation, valued at about $10.8 million;

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