Next week's highlights
EOS Foundation: EOS staking to be launched on July 8;
Galxe announces the opening of the GAL migration to G token portal on July 9;
Trump's sentencing date tentatively set for July 11, may be postponed;
ETHGlobal plans to hold ETHGlobal Brussels hackathon on July 12;
Binance plans to release important information on July 14;
Bloomberg ETF analyst: Spot Ethereum ETF may be listed later next week or the week of July 15;
July 8th-14th, more events worth paying attention to in the industry are as follows.
July 8th
According to a source from an issuer, the U.S. Securities and Exchange Commission has returned the S-1 form to the potential Ethereum spot ETF issuer with a few comments attached. The issuer has been asked to address these comments and resubmit by July 8. This means that at least one more round of filing is required before the ETF can begin trading. (The Block)
Bloomberg analyst: Expected approval of Ethereum spot ETF to be delayed until after July 8
Bloomberg ETF analyst Eric Balchunas stated in a post that he expects the approval of the Ethereum spot ETF to be delayed until after the holiday, as it seems the SEC took extra time this week to respond to major ETF issuers (although only making minor adjustments). Based on current information, all approvals will resume after the holiday ends on July 8, and the launch is expected shortly thereafter.
EOS Foundation: EOS staking to be launched on July 8
The EOS Foundation announced in a blog post that EOS staking will be launched on July 8, with the first batch of total staking rewards of 250 million EOS set to flow into the EOS staking pool, allowing users hoping to receive staking rewards to stake their tokens.
Kinto launches mining plan, available for claiming on July 8
Layer 2 network Kinto announced the official launch of its mining plan, which will distribute up to 33% of the token supply over a period of 10 years. Rewards will gradually decrease over time, calculated off-chain, and distributed on-chain weekly, starting from July 8.
The mining plan will reward asset deployers and developers, with the amount of Kinto tokens received increasing with longer and larger capital deployment.
Parallel lending market to delist HV-MTL NFT, users need to withdraw assets before July 8
The full-chain L2 network Parallel Network announced that its lending market (Parallel Lending Protocol) will delist HV-MTL NFT.
Starting from July 1, the supply operations of HV-MTL NFT assets will be disabled. Users are required to withdraw HV-MTL NFT assets within a week (from July 1 to July 8), or risk losing the HV-MTL NFT assets.
Space Nation announced on X platform that due to the need for more time to address known issues and ensure game experience, the second round of closed beta testing will be postponed to start at 8:00 on July 8 (UTC+8). The token incentive for the first week of the second round of closed beta testing will be increased from 100,000 to 850,000 OIK tokens.
July 9th
Galxe announces the opening of the GAL migration to G token portal on July 9
Galxe announced on X platform that the Galxe (GAL) token will migrate to Gravity (G) to unify and optimize the experience across two ecosystems.
G is the native token of Gravity, providing support for the Gravity and Galxe ecosystems. G acts as the gas token for trading on Gravity, securing the network through staking, and serving as a utility token in the Galxe product suite. As the primary utility token across two ecosystems, G drives governance decisions, incentivizes growth, and facilitates payments.
The G token will serve as the native token of the Gravity Alpha mainnet and exist as an ERC20 token on Ethereum, BNB Chain, and Base. The initial total supply is 12,000,000,000 tokens.
After the on-chain migration is completed, existing GAL tokens held by users will be destroyed, and new G tokens will be sent to their wallets at a ratio of 1:60. Users who do not migrate GAL can still retain GAL. However, the existing functions of GAL will fully transition to G.
The migration portal will be open to all users on July 9, 2024, and will remain online for at least one year to ensure that GAL holders have sufficient time to complete this process.
According to the official announcement, in accordance with the official plan of Render Network, RNDR will be replaced at a 1:1 ratio by RENDER. OKX supports this replacement, with the following specific arrangements:
At 4:00 p.m. on July 9 (UTC+8), all RNDR orders will be canceled and the RNDR/USDT and RNDR/USDC trading pairs will be delisted;
At 6:00 p.m. on July 9 (UTC+8), the RNDR recharge, withdrawal, and fund transfer functions will be closed;
At 12:00 a.m. on July 10 (UTC+8), an RNDR account snapshot will be taken, and the RNDR replacement will begin.
Snapshot accounts include funding accounts and trading accounts. After the replacement is completed, the RNDR assets held by users will be exchanged for RENDER and distributed to the funding account. The trading and deposit/withdrawal times for RENDER will be notified separately.
July 10th
BNB Chain: Trading Volume Incentive Program extended until July 10
Odaily News reports that BNB Chain announced on X platform that due to the huge amount of data in the trading volume incentive program, the release of the leaderboard had to be postponed. In order to give projects and users more time to compete for rewards, the competition period will be extended until 23:59 UTC on July 9, 2024 (7:59 am on July 10, Beijing time).
According to the official announcement, the final version of EOS Leap 6 is scheduled to be released on July 10, marking the beginning of the upgrade process. It is recommended that all EOS nodes complete the upgrade from July 11-30 to ensure a seamless transition and network synchronization. According to previous reports, the EOS Network Leap6 hard fork is scheduled for July 31.
Leap 6 introduces instant finality through Savanna (Scalable Verification Additive Protocol with Flexible Irrefutability Proofs), a breakthrough consensus algorithm that reflects a seamless Web2 experience in the Web3 space. This major update not only enhances performance, but also represents a comprehensive upgrade of the network. At the core of this evolution, Savanna will not only accelerate transaction finality, but also enhance the security, user experience, and decentralization of the entire EOS ecosystem.
July 11th
Trump's sentencing date tentatively set for July 11, may be postponed
According to market sources, Trump's sentencing date is set for July 11, but it may be postponed. (Jinshi)
OP Labs: Fjord upgrade to go live on OP Mainnet on July 11
OP Labs announced on X platform that the Fjord upgrade will go live on the OP Mainnet at 12:01 am on July 11, Beijing time. This upgrade will bring new features and cost reductions, including a 20x reduction in smart wallet key verification costs through the RIP-7212 precompile; developers can create smart wallet experiences without scale and cost limitations; more accurate pricing features and more efficient Brotli batch compression, reducing transaction costs by 5 to 15%; and an increase in the sequencer drift from 10 minutes to 30 minutes, among others.
Parallel announces official closure of cKSM-related functions on July 11
Parallel Network announced that it will officially close cKSM-related functions on July 11. Users will need to exchange cKSM for KSM. Crowdloan is a on-chain voting and staking product developed by Parallel on the Kusama network. Users can participate in the Kusama crowdloan by voting KSM and receiving cKSM LP tokens issued by Parallel.
July 12th
ETHGlobal plans to hold ETHGlobal Brussels hackathon on July 12
ETHGlobal announced that the ETHGlobal Brussels hackathon will be held from July 12 to 14, with a prize pool of $500,000. The application deadline was at 7:59 on July 2:
- Gnosis Chain, Chronicle Protocol, LayerZero, Worldcoin, Uniswap Foundation, Avail, Filecoin, Polygon, PancakeSwap, and Web3Auth will each provide $20,000 in funding;
- Nethermind, NEAR Protocol, Flare Network, Fluence, Pyth Network, Dynamic, ENS, ApeCoin, Celo, Inco Network, Nillion, Blockscout, Zircuit, 1inch, The Graph, Chainlink, Hyperlane, Base, Circle, XMTP, Across, Zerion, Galadriel, Rootstock, and Scroll will each provide $10,000 in funding;
- Fhenix, Neon EVM, INTMAX, WalletConnect, Morph, Metamask, and NounsDAO will each provide $5,000 in funding;
- Morpho Lab will provide $1,000 in funding.
Holdium: Distribution of 5% of Holdium to holders of pre-purchased tokens before July 12
Solana ecosystem loyalty project Holdium stated on X platform that holders of pre-purchased tokens for Solana Mobile's second-generation phone "Chapter 2" will receive a token airdrop without the need to register. Before July 12, 5% of the Holdium supply will be distributed to all holders of pre-purchased tokens, making anyone who pre-purchased the second-generation Solana Mobile phone "Chapter 2" before July 12 eligible for this special airdrop.
July 13th
None
July 14th
Binance plans to release important information on July 14
Cryptocurrency exchange Binance posted "Save the date" on X platform, with an image indicating July 14, 2024, and is expected to release important information on July 14.
BNB Chain: Second Sunset hard fork scheduled for July 14, asset migration to be completed in advance
BNB Chain announced that the second Sunset hard fork is scheduled for July 14. During this period, BNB Beacon Chain staking functionality will be migrated to BNB Smart Chain, and the Beacon Chain will exit the stage of history. All assets need to be migrated from the Beacon Chain to the BNB Smart Chain:
- Staked BNB: If BNB is staked, it needs to be migrated. If not migrated before July 14, the staking will be automatically canceled and returned to the user's account within 2 weeks.
- BNB and other BEP2 assets: These assets also need to be migrated from the Beacon Chain to the BNB Smart Chain. If the assets are not migrated, they will be unable to be transferred after August 15. If the asset migration has not been completed, it needs to be done before July 14.
US House of Representatives plans key vote next week on Biden's veto of SAB 121 resolution
Odaily News reports that the US House of Representatives plans a key vote next week on whether to overturn President Biden's veto of Staff Accounting Bulletin 121 (SAB 121). SAB 121 has sparked controversy in the crypto industry, with concerns about its potential impact on banks' custody of digital assets.
According to the weekly schedule released by House Majority Leader Steve Scalise, the rule is currently on the "legislation that may be considered" list in the House. It is the constitutional duty of the House to vote again to overturn or sustain the President's veto. The vote may take place on Tuesday or Wednesday.
Although the resolution was passed by a vote of 228-182 in the House in May, overturning the veto still requires a two-thirds majority support in both chambers. Political experts have varying opinions on this vote. Alexander Grieve, head of government affairs at Paradigm, said it may not be impossible. Others believe that it will be difficult to successfully overturn the veto. (The Block)
Odaily News reports that the US Senate Committee on Agriculture, Nutrition, and Forestry announced that it plans to hold a hearing on digital commodity regulation next Wednesday, July 10, with Rostin Behnam, Chairman of the Commodity Futures Trading Commission (CFTC), as the sole witness. It is expected to be a general crypto hearing.
Bloomberg ETF analyst: Spot Ethereum ETF may launch later next week or in the week of July 15
Odaily News reports that Bloomberg ETF analyst James Seyffart stated on X platform that Bitwise Invest has submitted a revised S-1 form for its Ethereum ETF, and it is expected that more issuers will submit this form within the remaining time this week. We believe that a spot Ethereum ETF product may launch later next week or in the week of July 15. Another Bloomberg analyst, Eric Balchunas, commented, "No one really knows why the SEC is taking so long to process these forms, given the lack of comments, the trading should be quick, but it could be some 'problem' issuer slowing things down, or just summer laziness/people on vacation, not sure. That said, all signs point to this month, more details will be revealed next week."
Jupiter: New on-chain trading method on Solana to be launched next week
Odaily News reports that Jupiter announced on X platform that it recently launched ape.jup.ag to help address feedback from users and has released some fixes, including adding a refresh icon in the Vault to quickly check updated balances and transaction history, as well as fixing display errors on small devices. The Ape application is currently being optimized and is expected to be completed tomorrow.
Jupiter also stated that a new on-chain trading method supported by Ape & the Vault on the Solana chain will be launched next week.
Odaily News reports that gaming platform Notcoin announced the launch of the Telegram Gaming Accelerator, aiming to provide blockchain-powered Telegram mini-programs for millions of users.
Notcoin is collaborating with AI analytics company Helika to expand and launch the game developer accelerator. Based on the successful experience of Helika Accelerate and $50 million in funding, the project will help game studios, mobile apps, and independent developers build outstanding gaming experiences on the Telegram platform and TON chain. The first batch of applications will open next week.
Samourai Wallet founder released on bail
Odaily News reports that a letter submitted on July 3 shows that the US government has agreed to bail out Samourai Wallet developer William Lonergan Hill (also known as TDev). Hill will appear in court in New York City next week after being extradited back to the country from Portugal.
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