News Preview:
- Zircuit announces that its native token $ZRC will officially open for trading on November 25, 2024;
- Ethereum Layer 2 network Starknet announces that STRK staking will go live on the mainnet on November 26;
- Web3 communication protocol WalletConnect will launch WCT token claims and staking on November 26;
- HashKey Group's ecological token HSK officially announces its launch on HashKey Global on November 26;
- Cardano (ADA) will unlock approximately 18.53 million tokens at 8 AM Beijing time on November 26, accounting for 0.05% of the current circulation, valued at about $18.9 million;
- ApeX (APEX) will unlock approximately 9.24 million tokens at 8 AM Beijing time on November 27, accounting for 19.09% of the current circulation, valued at about $17.8 million;
- Immutable (IMX) will unlock approximately 24.52 million tokens at 8 AM Beijing time on November 29, accounting for 1.47% of the current circulation, valued at about $40.5 million.
November 25
Policy and Regulation:
According to the Seoul News, South Korea's ruling Democratic Party plans to implement a 20% tax policy on cryptocurrency gains (including local taxes, totaling 22%) as originally scheduled for early 2025. This tax was initially set to take effect on January 1, 2022, but was postponed twice until 2025 due to strong opposition from investors and the industry. The revised plan raises the tax-free threshold for crypto gains from 2.5 million won (approximately $1,795) to 50 million won (approximately $35,919). Additionally, the revision allows for a certain percentage of the sale price to be declared as the purchase cost when precise purchase records cannot be provided. The Democratic Party stated that raising the tax-free threshold will effectively exempt the vast majority of investors from paying taxes. The revision is expected to be voted on by the National Assembly's tax subcommittee on November 25 and submitted for review at the full assembly on November 26.
Exchanges:
U.S. publicly traded cryptocurrency exchange Coinbase announced on Tuesday that it will terminate its "Direct Deposit" service on November 25, which previously allowed users to receive part or all of their salary in cryptocurrency. A spokesperson for Coinbase stated that the company "has decided to gradually phase out" this feature, but "will launch a better retail direct deposit experience in the future." They added, "We have announced the launch of a new Coinbase wallet direct deposit feature, which will be rolled out to eligible users in the coming months—further helping users bring their financial lives fully on-chain."
Project Updates:
Zircuit's ZRC token will have transfer restrictions lifted on November 25
Zircuit announced that its native token $ZRC will officially open for trading on November 25, 2024, and revealed that a major product will be launched next week. Zircuit has achieved significant milestones over the past 12 months, including launching a $2 billion liquidity Hub, providing airdrops to over 200,000 users and 20 exchanges through Eigenlayer, and attracting support from over 70 strategic investors, including Binance Labs and Pantera Capital. Currently, Zircuit has 342,000 on-chain wallet users.
SynFutures' points activity will end on November 25
SynFutures announced that its Oyster Odyssey points activity will officially end on November 25, 2024 (next Monday). The activity was launched simultaneously with SynFutures' launch on the Blast mainnet on March 1, 2024, and expanded to Base in July, attracting over 6.5 million wallet addresses and helping SynFutures become the top decentralized perpetual contract trading platform by trading volume and TVL on the Blast and Base networks.
Governance Voting:
Jupiter: The first Jupuary vote will open on November 25, seeking a 70% approval rate
Jupiter announced on the X platform that the first Jupuary vote will take place on November 25, with the team seeking a 70% approval rate. If the requirement is not met, the team will quickly conduct a new vote until the necessary approval milestone is reached. Jupiter added that this is one of the most important votes in its history and one of the most interesting votes in DAO history.
Lista DAO released a proposal titled "Proposal to introduce a Peg Stability Module using lisUSD Savings Rate," currently with a 100% approval rate, and voting will end on November 25. The proposal includes introducing a Peg Stability Module (PSM) and lisUSD Savings Rate (LSR) to enhance the price stability of lisUSD and provide deposit yields for users. The initial PSM will support USDT, with a total quota of 5 million lisUSD, and will gradually increase support for FDUSD and USDC, with a maximum limit of 15 million lisUSD. The initial LSR will be pegged to a fixed 1% spread below the BNB borrowing rate for lisUSD and will be dynamically adjusted based on market demand, while a 2% fee will be charged for converting lisUSD to USDT, and there will be no fee for converting USDT to lisUSD.
Token Unlocks:
Venom (VENOM) will unlock approximately 33.76 million tokens at 4 PM Beijing time on November 25, accounting for 1.79% of the current circulation, valued at about $2.2 million.
Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8 AM Beijing time on November 25, accounting for 2.05% of the current circulation, valued at about $2.3 million.
November 26
Exchanges:
Coinbase International will launch CoW Protocol perpetual futures contracts on November 26
Coinbase International announced on the X platform that it will add support for CoW Protocol perpetual futures contracts, with the COW-PERP market expected to open at or after 5:30 PM Beijing time on November 26, 2024.
HashKey Group's ecological token HSK will officially launch on November 26
HashKey Group's ecological token HSK officially announces its launch on HashKey Global on November 26. HSK will be used across all business scenarios of HashKey and will also serve as the native token and gas token for HashKey's upcoming L2 public chain, HashKey Chain, empowering long-term growth of the ecosystem.
Project Updates:
WalletConnect: WCT claims and staking will launch on November 26
Web3 communication protocol WalletConnect announced on the X platform that WCT token claims and staking will launch on November 26.
Starknet: STRK staking will launch on the mainnet on November 26
Ethereum Layer 2 network Starknet announced on the X platform that STRK staking will go live on the mainnet on November 26. After extensive testing on Sepolia, the first phase of STRK staking is now ready to launch on the Starknet mainnet. Anyone can participate by becoming a validator, which requires staking at least 20,000 STRK and running a full node; or by becoming a delegator, which requires selecting a validator from the available list and holding STRK tokens. Please note that both validators and delegators will be subject to a 21-day staking unlock period.
Bitcoin financial public chain Side Protocol will open airdrop registration on November 26
The Bitcoin financial public chain Side Protocol will launch an airdrop, with airdrop registration opening at 6:00 PM (UTC+8) on November 26, totaling 100 million SIDE tokens. This airdrop covers multiple categories, including users who spent more than 0.005 BTC on the Bitcoin network from January 1, 2023, to November 1, 2024; NFT communities including Pudgy Penguins, Milady, Mad Lads, Bitcoin Puppets, NodeMonkes, Ordinal Maxi Biz, Bitcoin Frogs, Pizza Ninja, Quantum Cats, Runestone, Bad Kids, Celestine Sloth; ATOM stakers and public goods donors; and testnet points users. The airdrop tokens will be gradually released after the mainnet launch.
Developer Activities:
The latest BNB Chain hackathon will kick off workshops on November 26
The new BNB Chain hackathon has launched today, with a prize pool exceeding $458,000, open for global Web3 developers to register. This event has no preset theme, allowing developers to explore directions such as stablecoins and DeFi, Telegram-based DApps, AI-driven DApps, and new narratives. Workshops will begin on November 26, with project submission dates from December 15 to 24, and the winners will be announced on January 16, 2025, followed by a one-month technical incubation period. The final six winning projects will receive incubation support and interview opportunities for the MVB program, as well as the chance to participate in sponsor challenges like UXUY to win exclusive rewards.
Token Unlocks:
Cardano (ADA) will unlock approximately 18.53 million tokens at 8 AM Beijing time on November 26, accounting for 0.05% of the current circulation, valued at about $18.9 million.
November 27
Exchanges:
Binance will remove leveraged trading pairs C98/BTC, IDEX/BTC, etc., on November 27
Binance officially announced that it will remove the following leveraged trading pairs at 2:00 PM (UTC+8) on November 27, 2024:
• Cross-margin leverage: C98/BTC, IDEX/BTC
• Isolated margin leverage: C98/BTC, FIS/BTC, IDEX/BTC, MBOX/BTC, REN/BTC, TKO/BTC
Users need to properly manage their positions before the deadline to avoid unnecessary losses due to forced liquidation.
Token Unlocks:
ApeX (APEX) will unlock approximately 9.24 million tokens at 8 AM Beijing time on November 27, accounting for 19.09% of the current circulation, valued at about $17.8 million.
Ethena (ENA) will unlock approximately 12.86 million tokens at 3 PM Beijing time on November 27, accounting for 0.45% of the current circulation, valued at about $7.8 million.
Yield Guild Games (YGG) will unlock approximately 14.08 million tokens at 10 PM Beijing time on November 27, accounting for 3.65% of the current circulation, valued at about $8.6 million.
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3 AM Beijing time on November 27, accounting for 0.69% of the current circulation, valued at about $3.5 million.
November 28
Exchanges:
OKX will launch MAJOR (Major) spot trading at 8:00 PM on November 28
OKX is about to launch MAJOR (Major), a "Play to Earn" game on Telegram with unique creativity and implementation aimed at increasing the popularity of the TON platform and blockchain. The $MAJOR token will be used for game mechanics and for renting Telegram usernames and phone number NFTs. MAJOR/USDT spot trading will open at 8:00 PM (UTC+8) on November 28.
Project Updates:
Sky will complete the removal of WBTC as collateral on November 28
The decentralized finance platform Sky (formerly MakerDAO) has decided to remove Wrapped Bitcoin (WBTC) from its platform as collateral. This decision has garnered widespread attention, as the Sky platform currently has about $200 million in loans secured by WBTC, which is one of the major cryptocurrencies with a market cap close to $10 billion. The move is related to concerns about risks associated with WBTC's custodian BiTGlobal and its connections with Tron founder Justin Sun. The first phase of the removal will start on October 3 and will be completed on November 28.
Token Unlocks:
SingularityNET (AGIX) will unlock approximately 7.95 million tokens at 8 AM Beijing time on November 28, accounting for 2.25% of the current circulation, valued at about $5.1 million.
Artificial Superintelligence Alliance (FET) will unlock approximately 3.45 million tokens at 8 AM Beijing time on November 28, accounting for 0.13% of the current circulation, valued at about $5 million.
Velo (VELO) will unlock approximately 182.8 million tokens at 8 AM Beijing time on November 28, accounting for 2.47% of the current circulation, valued at about $3.3 million.
November 29
Exchanges:
Digital securities exchange Bitfinex Securities is conducting its first public offering of tokenized U.S. Treasury bonds (T-bills) under Salvadoran law. As part of this issuance, NexBridge Digital Financial Solutions, a digital asset issuer based in El Salvador, will issue a new token with the trading code USTBL. This token aims to provide investors with an opportunity to invest in short-term U.S. Treasury bonds priced in U.S. dollars (USD).
Bitfinex Securities' initial offering aims to raise at least $30 million to continue issuing tokens, with the initial subscription period starting on November 19, 2024, and ending on November 29. According to Bitfinex Securities, this sale is the "first regulated" tokenized product of U.S. Treasury bonds based on Bitcoin technology. The new token will be issued on the Bitcoin Layer 2 network Liquid Network, and it is expected to provide an annualized yield to maturity of 5.02%. Proceeds from this issuance will be allocated to the iShares $ Treasury Bond 0-1yr UCITS ETF, a publicly listed ETF aimed at tracking the investment results of an index composed of U.S. government bonds issued by the U.S. Treasury.
Developer Activities:
Applications for the Telegram Growth Hub acceleration program will close on November 29
OKX Ventures, The Open Platform (TOP), and Folius Ventures have announced the launch of the $10 million Telegram Growth Hub, aimed at promoting TON blockchain innovation and expanding the Telegram mini-program ecosystem, funding and supporting projects that enhance user engagement on TON. The Telegram Growth Hub will select up to 10 promising projects to participate in a two-month acceleration program. Selected teams will be eligible for funding from the $10 million fund, with the application deadline set for November 29, 2024. The Telegram Growth Hub will focus on three key areas: 1. User acquisition and education tools: Projects that simplify user onboarding through intuitive UI/UX and educational tools, enabling new users to easily access TON; 2. Trading capabilities and networks: Plans for developing on-chain trading functionalities, such as DEX and NFT trading, liquid staking, and other advanced trading features; 3. Mini-program ecosystem expansion: Innovative mini-programs on Telegram, including games and entertainment applications that expand the use cases of TON.
Token Unlocks:
Immutable (IMX) will unlock approximately 24.52 million tokens at 8 AM Beijing time on November 29, accounting for 1.47% of the current circulation, valued at about $40.5 million.
Crown by Third Time Games (CROWN) will unlock approximately 4.63 million tokens at 8 AM Beijing time on November 29, accounting for 2.11% of the current circulation, valued at about $1.7 million.
November 30
Policy and Regulation:
Taiwan will implement a registration system for virtual asset service providers starting November 30
Taiwan will implement a registration system for virtual asset platforms and trading businesses (VASP) starting November 30 this year. The head of Taiwan's Financial Supervisory Commission recently stated that 26 companies have already obtained compliance declarations under anti-money laundering laws, with another 20 to 30 applications in process. The head of Taiwan's Inspection Bureau indicated that four companies were inspected last year, primarily identifying four major types of deficiencies, and inspections of six VASP practitioners are scheduled for November and December this year.
Exchanges:
Cryptocurrency exchange Fairdesk will close all services on November 30
The Singapore cryptocurrency exchange Fairdesk announced that it will officially close all services on November 30, 2024, due to policy and regulatory issues. Since its establishment in 2021, Fairdesk has provided quality trading services to users in the United States and Canada, but with the changing regulatory environment, the platform has decided to shut down permanently. Users must liquidate their accounts (futures and spot positions) by October 17, after which the platform will only retain withdrawal functionality until it closes on November 30.
OKX will stop the withdrawal services for FITFI, GARI, XPR, AKITA, TAMA, and WNCG on November 30
The OKX platform officially delisted FITFI/USDT, GARI/USDT, XPR/USDT, AKITA/USDT, TAMA/USDT, and WNCG/USDT from 4:00 PM to 4:30 PM (UTC+8) on August 30, 2024. Additionally, withdrawals for the aforementioned tokens will stop at 4:00 PM (UTC+8) on November 30. Users need to manage their related assets before this date to avoid losses.
December 1
Project Updates:
Sonic Labs: A snapshot will be taken on December 1 for wallets holding six different Sonic Shards
Sonic Labs (formerly Fantom) announced that a snapshot will be taken at 8:00 PM (Beijing time) on December 1 for each wallet holding six different Sonic Shards. Eligible wallets will be whitelisted and can mint exclusive NFTs after the Sonic chain goes live. This NFT will grant holders points for the upcoming airdrop of 200 million S tokens. Additionally, Shards obtained through secondary markets (such as PaintSwap) are also eligible, but must be held before the snapshot.
StakeStone will close the EigenLayer Season 2 Stakedrop token claim on December 1
The cross-chain liquidity asset protocol StakeStone previously opened the claim for EigenLayer Season 2 Stakedrop tokens, allowing eligible users to claim EIGEN rewards. This claim will last until December 1, 2024. Reward distribution is based on the user's ETH holdings and holding duration at the time of the snapshot on August 15. Users can access the claim portal at any time to make their claims, and StakeStone promises a 100% distribution of EIGEN tokens, with transparency data already made public, including the total claimed amount and Merkle tree distribution information.
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