March 4th

$ AEVO Generation Plan

On March 4th, the decentralized derivative protocol Aevo released its brand logo on official Twitter, indicating the potential start of the token generation event (TGE) proposed in AGP-1.5.

Aevo is a crypto asset derivative application built on the Layer2 blockchain network Optimism, focusing on options and perpetual contract trading. It was upgraded from the DeFi protocol Ribbon Finance built in 2022, involving the replacement of governance tokens.

The AGP-1.5 proposal and its amendments for Aevo include the generation time of $AEVO, the staking rules for $RBN (original governance token of Ribbon Finance) and $AEVO, and the reduction of staking duration for sAEVO from 3 months (13 weeks) to 2 months (9 weeks) to allow the earliest $RBN/$AEVO stakers to unlock in a timely manner. Specific timeline is as follows:

⏰ Mid-March: Token Generation (TGE)

➡️ $AEVO airdrop

➡️ Liquidity mining begins (earn by trading or staking $RBN/$AEVO)

➡️ 1:1 exchange from $RBN to sAEVO

⏰ Late May:

➡️ sAEVO unlock

➡️ TGE ends

➡️ 1:1 exchange from $RBN to $AEVO/sAEVO

$JUP LFG Voting

Voting for the new feature LFG LaunchPad (beta version) of DEX application Jupiter has started. Jupiter DAO will vote for the top 2 projects from 10 new projects and begin issuing new assets for the selected projects between late March and mid-April. 75% of the Launchpad fees (including 100 million $JUP at launch) will be allocated to voters to increase the voting rate.

Jupiter is a decentralized crypto asset trading application built on the Solana blockchain, created in 2021. It started airdropping the governance token $JUP on January 31 this year, with a maximum supply of 10 billion and a circulating supply of 1.35 billion. It is currently valued at $0.6, with a circulating market cap of $830 million, ranking in the top 120 of crypto assets.

$ MNT Testnet Competition

Mantle launched the Mantle v2 Sepolia testnet competition on March 4th, with a prize pool of 170,000 USDC. The competition will last until 7:59 am on March 22nd.

Mantle is an Ethereum Layer2 blockchain network created on July 17, 2023, aiming to bring scalability to the Ethereum network through a modular approach with low fees and high security. The network's Gas and governance token $MNT migrated from $BIT at a 1:1 ratio on the mainnet launch day, with a maximum supply of 6.219 billion and a circulating supply of 3.231 billion. It is currently valued at $0.87, with a market cap of $2.836 billion, ranking in the top 45.

In addition, the community vote for the second capital call and governance process update proposal (MIP-29) jointly proposed by Mirana Ventures and the core contributors of Mantle will also end on March 4th. The proposal seeks to approve the second capital raise of 30 million USDC according to MIP-24 to update the governance process and expand the investment authorization of the Mantle EcoFund.

$ TABI Testnet Launch

The testnet of the game blockchain Tabi Chain will be launched on March 4th, and the official interactive guide has been released, including adding the testnet to a Web3 wallet, obtaining the test token $TABI, using a browser, and transferring $TABI.

Tabi Chain is the first game chain compatible with Ethereum EVM and capable of achieving millions of TPS on Cosmos. It is community-driven and has received support from institutional backers including Animocabrands and Binance Labs.

March 5th

Phase Results of Fidelity Ethereum ETF Application

The U.S. Securities and Exchange Commission (SEC) has postponed the decision on Fidelity's spot Ethereum ETF proposal to March 5th. The SEC believes that designating a longer period to take action on the proposed rule change would be more appropriate, allowing sufficient time to raise any concerns. Fidelity submitted the Ethereum ETF application in November last year.

$ GAL Unlock

Galxe's governance token $GAL will unlock 2.3 million, worth approximately $7.75 million, accounting for about 2.19% of the circulating supply (105.3 million).

Galxe is a Web3 loyalty application used to build Web3 communities, with over 14 million independent users. It has driven the cohesion and development of multiple blockchain communities including Optimism, Polygon, and Arbitrum through loyalty reward programs. The maximum supply of governance token $GAL is 200 million, with a circulating supply of 105 million. It is currently valued at $3.37, with a circulating market cap of $350 million, ranking 218th.

$ LQTY Unlock

The governance token $LQTY of the DeFi interest-free lending protocol Liquity will unlock 657,000, worth approximately $1.2023 million, accounting for 0.69% of the circulating supply.

Liquity allows users to obtain interest-free loans in the form of crypto assets with ETH as collateral, with loans paid in the stablecoin LUSD pegged to the US dollar, and requires maintaining a minimum collateral ratio of 110%. In addition to ETH collateral, the loans are also secured by a stablecoin pool containing LUSD and other borrowers who collectively act as guarantors.

$LQTY is the incentive token of Liquity, capturing protocol fees and incentivizing early adopters and front-end operators, obtainable by depositing LUSD into the stablecoin pool or providing liquidity for LUSD. Its maximum supply is 100 million, with a circulating supply of 95 million, currently valued at $1.84, with a market cap of approximately $173 million, ranking 349th.

March 6th

$ FXS Airdrop Points

The activity for staking veFXS to receive airdropped $FXTL points on the modular blockchain Fraxtal will end on March 6th. On March 13th, one week after the end of the airdrop, the planned Flox mechanism in the blockchain roadmap will go live.

Fraxtal is a blockchain project established in 2020, aiming to aggregate Ethereum EVM-compatible Layer2 networks through modular means. The total supply of its utility token $FXS is 99.68 million, with a circulating supply of 77.032 million, currently valued at $8.89, with a circulating market cap of $685 million, ranking 136th.

The upcoming Flox is an innovative blockchain space incentive measure, designed to reward users and open personnel for spending Gas (Frax Ether, i.e., frxETH) and interacting with smart contracts on the network. During each period, users spending Gas and developers deploying contracts spending Gas will receive FXTL points, which can be converted to FXS in the future.

$ ZEN Transfer from Deprecated Sidechain Required

March 6th, the privacy-focused blockchain network Horizen will deprecate its concept verification sidechain TokenMint. Horizen reminds all TokenMint users to transfer $ZEN from the sidechain to the main chain before the deprecation date. This can be done by sending from the Cobalt wallet to the main chain Sphere address, and users are advised not to send to other mainnets to avoid fund loss.

March 7th

$ HFT Unlock

DEX application Hashflow's governance token $HFT will unlock 13.62 million tokens on March 7th, worth approximately $6.6874 million, accounting for 3.83% of the circulating supply.

Hashflow, created in April 2021, is a multi-chain decentralized trading application with a total trading volume of $18 billion. $HFT is its governance token, with a maximum supply of 1 billion and a current circulating supply of 361 million. It is currently valued at $0.49, with a market cap of $170 million, ranking 343rd.

$ DEFI Q1 Airdrop

DeFi portfolio tracking app De.Fi's token $DEFI airdrop claim will end on March 7th. This is the first quarter airdrop claim for the app, running from February 15th to March 7th, with a quantity of 3.8 million DEFI. The snapshot for the event was completed on February 7th at 21:00, and eligible recipients include active users in the social section and $DEFI stakers. A second quarter will be launched in the future.

DEFI is the governance token of De.Fi, with a maximum supply of 1 billion and a circulating supply of 149 million. It is currently valued at $0.22, with a circulating market cap of $3.371 million, ranking 886th.

$ AVAX Mainnet Upgrade

Avalanche mainnet activated the Durango upgrade on March 7th. Durango will bring native cross-chain communication to every EVM chain in the Avalanche ecosystem and establish standards for future virtual machine communication using AWM.

$ UNI Protocol Governance Poll

The community poll for the "Activate Protocol Governance" proposal on the leading DEX application Uniswap on Ethereum will end on March 7th. The poll is for the suggestion to "upgrade the owner of the mainnet UniswapV3Factory contract from Timelock to V3FactoryOwner" with the aim of enabling permissionless and programmatic protocol fee collection.

Based on current voting data, the proposal is likely to pass. Uniswap will announce the voting results on March 8th.

March 8th

$ MASA Public Sale

CoinList will launch the token $MASA of the decentralized data network Masa at 0:00 on March 8th, Hong Kong time.

The sale will offer 63,554,660 MASA, accounting for 4% of the total supply, at a unit price of $0.079. The initial purchase limit ranges from a minimum of 50 U to a maximum of 2000 U (USDT/USDC only). During the sale, Masa may decide to provide an additional 47,665,995 $MASA (3% of the total supply).

This sale is expected to release 25% when listed on CEX and linearly unlock over 6 months. The Token Generation Event (TGE) is expected to start around April 11, 2024.

BounceBit Testnet Registration

On March 8th, the Bitcoin re-collateralization network BounceBit will launch its testnet. Users who register and deposit $100 can claim BounceClub (formerly known as BounceBox) at the start of the testnet.

According to the official website, BounceBit will build BTC re-collateralization infrastructure, provided with custody protection by MainnetDigital and Ceffu. It uses a PoS mechanism to build a Layer1 network, securing the network's operation by validators staking BTC and the mainnet token of BounceBit. It will be compatible with EVM, cross-chain bridges, and oracle infrastructure provided with protection from re-collateralized BTC.

BounceBit aims to achieve cross-chain yield accumulation for BTC holders through the CeFi-DeFi framework. On February 29th this year, the project announced a $6 million seed round financing from Blockchain Capital.

March 9th

$ MEME Staking Feature Launch

Memeland has released the Stakeland v0 entrance to enable staking of the meme coin $MEME, and pre-registration has begun.

MEME is an ERC-20 standard crypto token created in November 2023, with the whitepaper stating "no function, no intrinsic value, no roadmap." This purely joke-born crypto asset is known as a meme coin.

$MEME has a maximum supply of 69 billion, a circulating supply of 9.593 billion, and is currently valued at $0.05, with a circulating market cap of $517 million, ranking 169th. Since its creation, the community has self-built various gameplay, and staking will be introduced after "farming."

March 10th

BlackRock Ethereum ETF Phase Progress

The U.S. Securities and Exchange Commission (SEC) has postponed the decision time for BlackRock's spot Ethereum ETF to March 10th. In November 2023, BlackRock submitted an Ethereum ETF application named iShares.

(Disclaimer: Readers are strictly advised to comply with local laws and regulations. This article does not represent any investment advice.)

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