Top News Preview:
- PayPal's USD stablecoin PYUSD will start trading on Kraken on August 21
- OKX is gradually upgrading and simplifying the certification process, and to ensure normal use, it recommends that users complete advanced certification before 15:00 on August 21 Beijing time.
- Adidas collaborates with Japanese streetwear brand BAPE to launch limited edition sneakers based on NFT, which will be auctioned through the Adidas Collect platform on August 22
- Federal Reserve Chairman Powell will speak at the Jackson Hole Global Central Bank Annual Meeting on August 25
- Avalanche (AVAX) and Lido DAO (LDO) will unlock tokens worth approximately $100 million and $14.2 million respectively on August 26
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August 21
Exchanges:
Binance will launch CYBER 1-20x U perpetual contract on August 21
Binance announced that it will launch CYBER 1-20x U perpetual contract at 20:00 (UTC+8) on August 21, 2023.
OKX tweeted that it is gradually upgrading and simplifying the certification process to comply with global regulatory standards. All OKX users need to complete comprehensive verification to access OKX products and services. To ensure normal use, it strongly recommends that users complete advanced certification before 15:00 (HKT) on August 21. Users who are unable to complete certification can contact customer service for 24/7 support.
PayPal's USD stablecoin PYUSD is now available on Kraken, trading will start on August 21
PayPal's USD stablecoin PYUSD is now available on Kraken, with deposits and withdrawals already enabled. PYUSD will start trading on Kraken on August 21.
Project Updates:
Shibarium Network plans to reopen to the public next Monday
Shibarium stated that it is currently enhancing security measures and conducting in-depth testing. Shibarium is already able to generate blocks normally in the internal test mode. The team will continue to expand and test, and Shibarium Network plans to reopen to the public next Monday (August 21). Earlier, due to unexpected traffic after the launch of Shibarium, the network entered a fault-safe mode and stopped running to ensure fund security.
Celsius Unsecured Creditors Official Committee announced on X platform (formerly Twitter) that webinars related to the disclosure statement of Celsius's bankruptcy restructuring plan will be held on August 21. Several meetings will be initiated on specific topics, including voting by creditors under the plan and how to fill out ballots.
Base and Backdrop's ecosystem acceleration plan "100 Builders" will start on August 21
Coinbase's Layer2 network Base announced on Twitter that it is collaborating with Web3 project Backdrop to launch the ecosystem acceleration plan "100 Builders," aimed at helping 100 developers build open-source projects on Base. The application deadline for this plan was August 10, and it is scheduled to run from August 21 to September 15, with developers eligible for over $40,000 in prizes.
Starknet wallet Argent tweeted that due to the upgrade of Starknet, some old Starknet accounts also need to be upgraded. The upgrade is scheduled for August 21. 95% of users are not affected, but users who received the update prompt are advised to complete the upgrade before that date, otherwise there is a risk of asset loss.
Token Unlock:
Injective (INJ) will unlock approximately 2.86 million tokens worth about $22 million on August 21 at 8:00
Community Events:
Istanbul Blockchain Week will be held from August 21 to August 25
ConsenSys' global virtual hackathon "Not Another Virtual Hackathon" will end on August 21
Blockchain software technology company ConsenSys is hosting the global virtual hackathon "Not Another Virtual Hackathon" from July 6 to August 21, with a prize pool of $115,500.
August 22
Exchanges:
Binance will delist SNM, SRM, and YFII on August 22
Binance announced that it will cease trading and delist the following tokens on August 22 at 11:00: Sonm (SNM), Serum (SRM), DFI.Money (YFII). Binance stated that the platform will regularly review listed digital assets to ensure token quality. When tokens no longer meet the listing standards or there are significant industry changes, they will undergo in-depth project reviews and may be delisted.
Policy Regulation:
Public consultation on the UK Treasury's digital securities sandbox will end on August 22
The UK Treasury today released a consultation document on the Digital Securities Sandbox (DSS), which will be the first financial market infrastructure sandbox provided under the 2023 Financial Services and Markets Act. The document introduces the main features, policies, and legal issues of the digital securities sandbox. DSS will promote testing and adoption of digital securities in the financial market. Through DSS, the industry will be able to establish financial market infrastructure using digital asset technology, which can execute many activities related to digital securities under a temporarily modified legislative and regulatory framework. The consultation deadline is 11:59 on August 22, 2023.
Project Updates:
According to the Adidas official website, Adidas Originals, a brand under Adidas, announced a collaboration with the Japanese Harajuku streetwear brand BAPE to launch the limited edition NFT-based sneaker brand "Triple-White Forum 84 BAPE Low." This sneaker, supported by the Adidas /// Studio Web3 studio, will be auctioned through the Adidas Collect platform on August 22. This is also the first time Adidas has used an auction format to support NFT digital sneakers. In addition, an NFC chip will be installed in the left tongue of each physical shoe, allowing the owner to scan and obtain an NFT-based genuine certificate using a smartphone. Only 100 pairs will be available.
EigenLayer, an Ethereum re-staking protocol, will increase the LST re-staking limit on August 22
The Ethereum re-staking protocol EigenLayer will increase the LST (Liquidity Staking Token, including stETH, rETH, and cbETH) re-staking limit at 22:00 on August 22 Beijing time. After the limit is lifted, users will be able to stake any of the above tokens in EigenLayer. When any type of LST reaches the milestone of re-staking 100,000 tokens, EigenLayer will once again suspend new staking. In addition, EigenLayer announced the upcoming launch of the Operator testnet, which will serve purposes such as EigenDA validation services, node operations, performance, and maintenance tools, as well as the M2 testnet feature to enhance the staking experience.
DeFi lending protocol Sentiment has decided to discontinue Sentiment V1 on August 22. The end will be carried out in 3 steps: 1. Starting from August 15, the market will no longer accept new loans; 2. Borrowers and lenders can repay and withdraw; 3. After August 22, the network application will still be accessible, but core contributors will no longer maintain it. Regarding the reason for this decision, Sentiment stated: "Although V1 showed encouraging signs of demand, the expansion architecture is infeasible. This realization prompted Sentiment to conduct extensive research, which will be reflected in V2."
Token Unlock:
SPACE ID (ID) will unlock approximately 18.49 million tokens, worth about $3.7 million, on August 22 at 8:00
August 23
Exchanges:
According to court documents on Thursday, FTX seeks to exclude its Dubai subsidiary FTX Dubai from the US liquidation proceedings. The documents state that FTX Dubai did not conduct any business before applying for bankruptcy in the United Arab Emirates (UAE), therefore there is "no reasonable possibility of resuming operations"; furthermore, FTX Dubai's balance sheet has the ability to pay, so the debtor believes that a voluntary liquidation process with the ability to pay under UAE law will allow for timely distribution of cash balances after paying off all outstanding debts and liquidating all assets. A hearing on this matter is scheduled for August 23. It is reported that in November last year, when FTX filed for bankruptcy in the US, it initiated Chapter 11 bankruptcy proceedings for 102 affiliated entities worldwide. FTX Dubai was established in February 2022 and is owned by the company's European subsidiary, and is one of the entities involved in the litigation.
Community Events:
Gamescom 2023 in Cologne, Germany will be held from August 23 to August 27
August 24
Exchanges:
Binance will delist LTC/BUSD and DOGE/BUSD perpetual contracts on August 24
Binance Futures will fully close and settle the USDⓈ-M LTCBUSD and DOGEBUSD perpetual contracts at 17:00 (Beijing time) on August 24, 2023. After the settlement is completed, the contract will be delisted.
Project Updates:
On Thursday, a judge approved Celsius's disclosure statement, and creditors are expected to recover 67%-85% of the assets. Celsius will hold a vote on its plan to sell assets to the Fahrenheit consortium. Chris Ferraro, the interim CEO of the company, stated in an email that under Chapter 11 proceedings, "we remain focused on creating the best outcome for customers and creditors and returning asset value as soon as possible." Creditors will vote on the plan between August 24 and September 22, which involves selling assets to the Fahrenheit consortium. Court documents show that the return for creditors may range from 67% for Earn account holders to 85.6% for Celsius lending program participants, primarily in the form of Bitcoin (BTC) and Ethereum (ETH), while the return rate for asset liquidation is only 47%.
Token Unlock:
1inch (1INCH) will unlock approximately 274,000 tokens, worth about $68,000, on August 24 at 8:00
August 25
Policy Regulation:
Federal Reserve Chairman Powell will deliver a speech on the economic outlook at the annual central bank governors' meeting in Jackson Hole, Wyoming on August 25. The speech is scheduled to begin at 10:05 am Eastern Time (10:05 pm Beijing time). The Jackson Hole Global Central Bank Annual Meeting often serves as a window for the Federal Reserve to hint at important monetary policy milestones. Powell will have the opportunity to express his latest views on whether further policy tightening is needed to reduce inflation in the face of unexpectedly strong economic growth, or whether sufficient progress has been made in curbing inflation to maintain stable interest rates.
The UK Financial Conduct Authority (FCA) announced that from September 1, 2023, crypto asset firms in the UK will be required to collect, verify, and share information about crypto asset transfers, known as the "travel rule." This rule will align the practices of crypto asset firms for sending and receiving transactions with common practices in other financial services areas. The FCA stated that to further support crypto asset businesses, it has been working with the industry, the Joint Money Laundering Steering Group (JMLSG), and the UK Treasury (HMT) to develop guidance to help firms comply with the travel rule. Companies must input this guidance by August 25, 2023.
Token Unlock:
Acala (ACA) will unlock approximately 4.66 million tokens, worth about $220,000, on August 25 at 8:00
August 26
Token Unlock:
Avalanche (AVAX) will unlock approximately 9.54 million tokens, worth about $100 million, on August 26 at 8:00
Lido DAO (LDO) will unlock approximately 8.5 million tokens, worth about $14.2 million, on August 26 at 1:51
To Be Determined
Starknet mainnet will be upgraded to version 0.12.1 next week
Ethereum Layer2 scaling solution Starknet announced on Twitter that the Starknet mainnet will be upgraded to version 0.12.1 next week. This upgrade, as the second phase of Starknet mainnet "quantum leap," aims to improve transaction efficiency. Starknet stated that currently, invalid transactions waste valuable sequencer resources without paying fees. This upgrade adds a validation phase before sequencing to filter out invalid transactions as early as possible. Failed transactions will have a REVERTED status included in the block and will be paid fees.
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