News Preview:
- Grass Airdrop One will take place on October 28
- Magic Eden: The test token TestME will be released on October 29, running for 3 days
- Stacks is expected to undergo the Nakamoto upgrade on October 29
- Bitfarms will hold a special shareholder meeting on October 29 to vote on restructuring the board in response to Riot's acquisition attempt
- Binance Blockchain Week will kick off in Dubai on October 30, with Changpeng Zhao attending in a personal capacity
- Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 AM Beijing time on October 31, accounting for 2.50% of the current circulation, valued at about $49.5 million;
- Sui (SUI) will unlock approximately 64.19 million tokens at 8:00 AM Beijing time on November 1, accounting for 2.32% of the current circulation, valued at about $116 million;
- Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 AM Beijing time on November 1, accounting for 1.98% of the current circulation, valued at about $43.19 million;
October 28
Project Updates:
Grass Airdrop One will take place on October 28
According to the announcement from the Grass Foundation, one of the most widely distributed airdrops in history, "GRASS Airdrop One," will occur on October 28, 2024, at 21:30 (Beijing time). This airdrop is an important step in building the first user-owned internet map.
The GRASS token will be used for network buybacks, paying network fees, staking to ensure network infrastructure security, rewarding user contributions, and granting governance rights to holders. Previously, users needed to bind their wallets on the Grass Dashboard by 04:00 (Beijing time) on October 15, 2024, and earn 500+ Grass Points in any period to qualify for the airdrop. The official reminder states that the airdrop is not yet open for claiming, and users should be cautious of scams; all claiming operations should only be conducted on the official website, with no need to sign any on-chain transactions.
dYdX announces dYdX v3 sunset process reminder, all trading will stop on October 28
dYdX will begin shutting down its v3 version on October 28. It stated on the X platform: "dYdX v3 sunset process reminder, all trading, oracle price updates, and fund payments will stop at 20:05 Beijing time on October 28. We encourage users to plan to close positions and withdraw USDC from the dYdX v3 smart contract." According to previous announcements, this change only affects dYdX v3 users, while users of dYdX Chain, dydx.trade, or v4 API will not be affected.
Optimism: Voting for Season 5 and 6 Superchain contributors will open on October 28
Optimism announced on the X platform that during Seasons 5 and 6, up to 3.5 million OP will be allocated to contributors of Optimism Governance, meaning contributors from October 2023 to September 18, 2024, will receive rewards. If you have contributed to superchain governance, please pay attention to the following dates:
Registration: September 26 - October 10
Application review process: October 14 - October 28
Voting: October 28 - November 7
Results announcement: November 19
Community Events:
Hong Kong FinTech Week main conference will open on October 28 at AsiaWorld-Expo
The 9th Hong Kong FinTech Week, themed "Illuminating New Pathways in FinTech," will be held from October 28 to November 1. As a flagship event for global fintech development, the event will align with Hong Kong's vision to lead the future growth of the financial services industry and other sectors.
Token Unlocking:
SingularityNET (AGIX) will unlock approximately 8.07 million tokens at 8:00 AM Beijing time on October 28, accounting for 2.11% of the current circulation, valued at about $430;
Artificial Superintelligence Alliance (FET) will unlock approximately 3.5 million tokens at 8:00 AM Beijing time on October 28, accounting for 0.13% of the current circulation, valued at about $430;
October 29
Project Updates:
Magic Eden: The test token TestME will be released on October 29, running for 3 days
Magic Eden stated on the X platform that the test token TestME will be released on October 29, running from October 29 to October 31. Claiming the test token helps:
- Ensure the wallet is correctly set up and linked to the platform
- Familiarize with the token claiming process
- Help the team identify and resolve any potential issues before the official ME token claiming goes live
Previous news indicated that Magic Eden would conduct ME test token claiming at the end of this month, followed by the announcement of token economics.
Stacks is expected to undergo the Nakamoto upgrade on October 29
Stacks announced a major upgrade called the Nakamoto upgrade will occur at Bitcoin block height 867867 (around October 29). This upgrade will introduce "Fast Blocks" and "Bitcoin Finality" mechanisms, aiming to significantly enhance transaction speed, making Stacks the preferred platform for building a scalable Bitcoin ecosystem. After the Nakamoto upgrade, Stacks block production will be independent of Bitcoin block production, allowing user transactions to be confirmed within seconds. Additionally, with Bitcoin finality, the security of Stacks transactions will align with Bitcoin, no longer being independently forked. Furthermore, the core development team plans to launch sBTC this year, a decentralized solution that will support seamless transfers of Bitcoin between L1 and Stacks L2, further promoting the expansion of the Bitcoin ecosystem and the development of decentralized applications.
Bitcoin mining company Bitfarms has officially confirmed that it will hold a special shareholder meeting on October 29, 2024, in response to Riot Platforms' request made on June 24. Bitfarms announced on Friday that all shareholders recorded as of the record date of September 26, 2024, are entitled to vote, but no further action is required at this time. Bitfarms stated that a special committee composed of independent directors reviewed the meeting request with the assistance of financial and legal advisors and unanimously determined the meeting and record dates.
Regarding Riot's acquisition attempt, Bitfarms argued in a statement that Riot had the opportunity to raise related requests at the annual shareholder meeting on May 31 but has yet to bring a new strategic direction to the company. Bitfarms also revealed that Riot attempted to delay the record date until after the Ontario Securities Commission hearing to abolish the company's shareholder rights plan. To defend against a potential acquisition, Bitfarms implemented a "poison pill" plan in June, setting a limit on share accumulation and planning to raise that threshold in the future. Although Riot Platforms previously proposed to acquire Bitfarms for approximately $950 million in April, it withdrew the offer due to the "current board's lack of meaningful engagement," but has since continued to increase its stake in Bitfarms and is now its largest shareholder, holding about 14.9%.
COOK token claiming will go live on Mantle Network and is set to be listed on exchanges on October 29
The liquid staking protocol mETH Protocol (formerly Mantle LSP) announced that COOK token claiming is set to go live on Mantle Network, with plans for exchange listing before the launch. It is reported that COOK tokens are set to be listed on Bybit and MEXC exchanges at 10:00 AM UTC on October 29, 2024 (6:00 PM Beijing time), with more details to be disclosed later.
The Arena has postponed the launch date of the ARENA token to October 29
The Arena, a social protocol in the Avalanche ecosystem, announced on X that the launch date of the ARENA token has been postponed to Tuesday, October 29. Previously, on September 25, it was reported that The Arena had rescheduled the ARENA launch date to between October 1 and 14.
Web3 platform Talent Protocol will launch TALENT token on October 29
Web3 platform Talent Protocol announced on X that it will launch the TALENT token on the Base chain at 8:00 PM on October 29. TALENT is a Basecoin designed to establish an open reputation ecosystem.
Betting platform Divvy.Bet will conduct TGE on October 29
The betting platform Divvy.Bet announced on X that it will conduct a Token Generation Event (TGE) on October 29, allowing users to earn DVY points by participating in betting, providing liquidity, and engaging in community activities before this date. Divvy.Bet released the DVY token economics in May, with a total supply of 1 billion tokens, distributed as follows: 40% allocated to the community and ecosystem (staking and betting rewards); 9% for private sales; 10% for public sales; 5% for airdrops; 2.5% for liquidity; 8% for marketing and partnerships; 10.5% for the team; and 15% for the foundation's treasury.
Token Unlocking:
Velo (VELO) will unlock approximately 182 million tokens at 8:00 AM Beijing time on October 29, accounting for 2.47% of the current circulation, valued at about $230;
October 30
Exchanges:
Binance will perform wallet maintenance on BNB Beacon Chain (BEP2) on October 30
Binance will conduct wallet maintenance on BNB Beacon Chain (BEP2) at 16:00 (UTC+8) on October 30, 2024. To support this maintenance, Binance will suspend deposits and withdrawals for BNB Beacon Chain (BEP2) at 15:55 (UTC+8) on October 30, 2024. The maintenance is expected to take 1 hour, and deposit and withdrawal services will automatically resume after the maintenance is completed.
Project Updates:
Base mainnet will introduce fault proofs on October 30
The Base mainnet will introduce fault proofs on October 30, marking an important step towards decentralization. With this mechanism, anyone can monitor and challenge invalid withdrawal transactions without permission, eliminating the need for trust in third parties. The Base team stated that they have been working closely with Optimism to ensure the smooth launch of fault proofs and enhance security. During the upgrade, all pending withdrawal transactions will need to be re-verified.
Bitlayer's second application phase will close on October 30
Bitcoin Layer 2 network Bitlayer announced on the X platform that the Bitlayer Booster Grant Program (developer acceleration program) has selected 11 innovative projects for the finals. These projects will have the opportunity to receive up to $1 million in incentive support, covering ecosystem development in areas such as BTC-Fi, AI, and NFTs. The shortlisted projects include RollDex, Bullishs, Cygnus Finance, DeAgentAI, Desyn, Fun Worlds, Jasper Vault, Trusta Labs, Umoja, UXUY, and Xenobunny. The deadline for the second application phase is October 30.
Former FTX executive Nishad Singh will be sentenced on October 30
Court records show that former FTX executive Nishad Singh will be sentenced on October 30, having testified against FTX co-founder Sam Bankman-Fried, while another co-founder, Gary Wang, will be sentenced on November 20.
Community Events:
Former Binance CEO Changpeng Zhao announced on the X platform: "I will attend Binance Blockchain Week in Dubai on October 30-31 in a personal capacity. This is one of the largest Web3 events of the year. See you then."
Token Unlocking:
Celestia (TIA) will unlock approximately 175.6 million tokens at 10:00 PM Beijing time on October 30, accounting for 79.75% of the current circulation, valued at about $941 million;
Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 PM Beijing time on October 30, accounting for 0.47% of the current circulation, valued at about $450;
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 AM Beijing time on October 30, accounting for 0.69% of the current circulation, valued at about $380;
October 31
Exchanges:
Coinbase International will launch ApeCoin perpetual futures contracts on October 31
Coinbase International announced on the X platform that it will add support for ApeCoin perpetual futures contracts, with the APE-PERP market expected to open at or after 5:30 PM Beijing time on October 31, 2024.
Binance will support the rebranding of Kaia (KLAY) to Kaia (KAIA). Binance will stop trading and delist all existing KLAY spot trading pairs (KLAY/BTC and KLAY/USDT) at 11:00 AM (UTC+8) on October 28, 2024, and will automatically cancel all open orders. Binance will open KAIA/USDT spot trading at 4:00 PM (UTC+8) on October 31, 2024.
Project Updates:
BNB Chain will host the fourth BNB Incubation Alliance (BIA) during Dubai BBW on October 31, 2024
BNB Chain announced that it will host the fourth BNB Incubation Alliance (BIA) during Dubai BBW on October 31, 2024. The event aims to help startups and developers achieve real business success and bridge the gap, providing opportunities to showcase their projects to investors and industry leaders. Highlights include presentations from multiple nominated projects and judges from several venture capital firms and incubators, including Binance Labs. The event will also feature panel discussions on key topics such as DeFi, stablecoins, and Web3 consumers and social aspects. Additionally, the BIA provides a fast-track opportunity for the BNB Chain Most Valuable Builder (MVB) program.
Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC), sent "sweet sixteen" wishes for the 16th anniversary of the Bitcoin white paper in an interview with Bloomberg. He stated that the SEC will continue to maintain its current "enforcement" strategy regarding crypto assets, emphasizing the importance of protecting investors and the healthy development of the market. Gensler declined to comment on speculation about Trump potentially replacing him if elected president in 2024. The day before this interview, the SEC's review department listed crypto assets as a key regulatory focus for 2025. Despite controversies surrounding Gensler's regulatory approach, he did not indicate any intention to change current policies. The Bitcoin white paper was published on October 31, 2008, marking its 16th anniversary this year.
According to an announcement on OneKey's official website, the OneKey Card Service will gradually shut down to improve service quality and optimize product experience. The specific timeline is as follows: starting September 30, 2024, new registrations and top-up functions will be stopped; on October 31, 2024, all remaining balances will be safely transferred to user wallets and can be withdrawn at any time; by January 31, 2025, the OneKey Card Service will be fully discontinued.
DeFi protocol Elixir will launch the first phase of its mainnet on October 31, initiating the transition to full decentralization
DeFi protocol Elixir announced on X that it will launch the first phase of its mainnet on October 31, marking a brief phase before the mainnet launch and signaling Elixir's transition to full decentralization. On that day, Elixir will initiate its genesis validator program and the timer for the public mainnet release, conducting a brief network stability test during this phase. As the public mainnet goes live, control will be handed over to the community. At this time, eligible users can claim ELX, run validators, or delegate ELX to existing validators. ELX will become a key component of the network, ensuring the integrity and functionality of Elixir consensus and including governance rights for the protocol. Additionally, Elixir announced the launch of the Apothecary mainnet phase, which will distribute 750 million potion rewards to active community participants, deUSD minters/holders, and order book LPs over the next 10 months before the public mainnet goes live.
Token Unlocking:
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 AM Beijing time on October 31, accounting for 2.50% of the current circulation, valued at about $49.5 million;
Tribal Token (TRIBL) will unlock approximately 22.07 million tokens at 8:00 AM Beijing time on October 31, accounting for 19.06% of the current circulation, valued at about $13.4 million;
November 1
Policy Regulation:
This week, Oklahoma passed a bill aimed at protecting residents' rights to self-custody of digital assets. The bill, signed by Governor Kevin Stitt, will take effect on November 1, 2024. Initiated by four Republican lawmakers, the bill explicitly prohibits "restricting or prohibiting" residents from using self-custody wallets or hardware wallets to manage their digital assets. Additionally, residents of the state can legally mine cryptocurrency at home and in industrial settings, provided they comply with noise regulations. The bill also states that individuals and businesses engaged in digital asset mining, staking, and other activities do not need to obtain a money transmission license, and it prohibits discriminatory electricity pricing for digital asset mining companies. Residents using cryptocurrency to pay for goods and services will not incur additional taxes.
The New York State Department of Financial Services (NYDFS) released new guidelines on May 30 to enhance customer service standards for virtual currency entities (VCEs). These guidelines will take effect on November 1. The NYDFS stated that these comprehensive guidelines aim to ensure that VCEs have robust customer service mechanisms capable of addressing customer issues promptly and effectively. VCEs are required to keep their customer service policies updated and comply with all relevant laws and regulations.
The guidelines require VCEs to establish and maintain effective customer service procedures, including multiple channels for submitting requests and complaints, such as phone and electronic text mechanisms. Additionally, VCEs must regularly provide customers with updates and expected resolution times, track request statuses, and publish accessible FAQs. If AI tools are used in customer service, customers must be informed at the start of the interaction and given the option to escalate their issues to a human representative. VCEs must also provide the NYDFS with quarterly data detailing the number of customer service requests and complaints received, the methods of submission, and the subjects addressed. These reports must also include the average time taken to resolve each issue. The regulator will review these records to assess the effectiveness of the policies and procedures implemented through ongoing inspections and oversight.
Project Updates:
Argent launches Telegram Accelerator Program, application deadline is November 1
Starknet ecosystem smart contract wallet Argent has partnered with the Starknet Foundation to launch a Telegram Accelerator Program aimed at connecting Telegram's 1 billion users to the Ethereum and Starknet ecosystems. The program will support up to 20 high-quality teams in developing Telegram mini-apps, with each team receiving $25,000 in seed funding and the opportunity to secure up to $1 million in follow-up funding upon successful project completion. The accelerator program lasts for 7 weeks, with the application period starting on October 10 and ending on November 1. Teams will use the Argent Telegram Wallet SDK and Starknet's Layer 2 scaling technology to develop mini-apps covering areas such as gaming, DeFi, and SocialFi.
OCBC Bank in Singapore will stop processing all transactions related to Russia starting November 1
OCBC Bank, Singapore's second-largest bank, will stop processing all transactions related to Russia starting November 1 to reduce its risk exposure to Russia, which is subject to global sanctions. This move includes halting personal remittances, goods transportation, and the supply or sale of goods or services involving Russia. According to informed sources, OCBC has notified its clients, including private banking clients, that this decision is based on operational challenges related to regulatory compliance. Since the outbreak of the Russia-Ukraine war in 2022, OCBC has stopped opening new accounts for clients related to Russia. In March 2022, Singapore imposed unilateral targeted sanctions on cryptocurrency trading activities related to Russia.
BoostVC, Draper Associates, and Thesis have launched the BitcoinFi Accelerator Program aimed at "supporting founders to bring the next wave of innovation to Bitcoin." The program encourages applications across three core areas: infrastructure, DeFi, and SocialFi. Participants can receive $150,000 in initial funding in exchange for 5% equity and have the opportunity to secure follow-up investments from a network of investors. The accelerator is currently open for applications, with the deadline set for October 23. Following this, there will be two selection phases, and the final winners will be announced on November 1, with the first batch of courses starting on November 4 and running until December 13.
TON Gateway 2024 will open on November 1
TON Gateway is an important annual event for the TON community, hosted by TON Society and supported by the TON blockchain, taking place from November 1 to 2 at the Hyatt Regency Dubai Conference Center.
Token Unlocking:
Sui (SUI) will unlock approximately 64.19 million tokens at 8:00 AM Beijing time on November 1, accounting for 2.32% of the current circulation, valued at about $116 million;
Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 AM Beijing time on November 1, accounting for 1.98% of the current circulation, valued at about $43.19 million;
ZetaChain (ZETA) will unlock approximately 53.89 million tokens at 8:00 AM Beijing time on November 1, accounting for 11.72% of the current circulation, valued at about $36.6 million;
Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 AM Beijing time on November 1, accounting for 0.05% of the current circulation, valued at about $6.2 million;
dydx (DYDX) will unlock approximately 8.33 million tokens at 8:00 AM Beijing time on November 1, accounting for 1.29% of the current circulation, valued at about $8.1 million;
Delysium (AGI) will unlock approximately 34.38 million tokens at 8:00 AM Beijing time on November 1, accounting for 2.85% of the current circulation, valued at about $550;
Crown by Third Time Games (CROWN) will unlock approximately 4.63 million tokens at 8:00 AM Beijing time on November 1, accounting for 2.18% of the current circulation, valued at about $140;
Manta Network (MANTA) will unlock approximately 1.87 million tokens at 7:59 AM Beijing time on November 1, accounting for 0.49% of the current circulation, valued at about $120;
November 2
Project Updates:
The Solana-based mining project Ore announced on the X platform that over 11,000 OREv1 tokens (55%) have been upgraded to the new version ORE, and remaining v1 token holders must complete the upgrade by November 2. After this date, the old OREv1 tokens will no longer be eligible for upgrade.
November 3
None
Multiple Dates/Specific Dates Pending
Policy Regulation:
On Monday at 22:30, the U.S. Dallas Fed Business Activity Index for October;
On Tuesday at 1:00, Bank of Canada Governor Macklem participates in a fireside chat at a conference;
On Tuesday at 22:00, U.S. September JOLTs job openings, U.S. October Conference Board Consumer Confidence Index;
On Wednesday at 18:00, Eurozone Q3 GDP year-on-year preliminary value, Eurozone October Industrial Sentiment Index, Eurozone October Consumer Confidence Index final value, Eurozone October Economic Sentiment Index;
On Wednesday at 20:15, U.S. October ADP employment change;
On Wednesday at 20:30, U.S. Q3 real GDP annualized quarterly rate preliminary value, U.S. Q3 real personal consumption expenditures quarterly rate preliminary value, U.S. Q3 core PCE price index annualized quarterly rate preliminary value;
On Thursday at 18:00, Eurozone October CPI year-on-year preliminary value, Eurozone October CPI month-on-month, Eurozone September unemployment rate;
On Friday at 20:30, U.S. October seasonally adjusted non-farm payrolls, U.S. October unemployment rate, U.S. October average hourly earnings month-on-month;
On Friday at 21:45, U.S. October S&P Global Manufacturing PMI final value.
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