This Week's Key News Preview | Ethereum Spot ETF issuers will resubmit S-1 forms; The U.S. House of Representatives may vote to override Biden's veto of SAB 121; The Blast Foundation will launch the second phase of its reward program
Highlights of the week from July 8 to July 14.整理：Fairy，ChainCatcher
Key News:
- US SEC Returns S-1 Form to Ethereum Spot ETF Issuer for Revision and Requests Resubmission by July 8
- Blast Foundation to Launch Phase Two Reward Program on July 8, Allocating 10 Billion BLAST
- Bloomberg Analyst: Ethereum Spot ETF May Launch Later Next Week or During the Week of July 15
- US CFTC Chairman to Attend Senate Hearing on Digital Commodity Regulation as Sole Witness Next Week
- US House May Vote Next Week to Overturn Biden's Veto on SAB 121
- Multicoin Capital Commits Up to $1 Million in Donations to Support Senate Candidates Advocating for Cryptocurrency Before July 14
- Zircuit: Mainnet Launching Soon, Season Two Begins on July 8
July 8 (Monday)
US SEC Returns S-1 Form to Ethereum Spot ETF Issuer for Revision and Requests Resubmission by July 8
According to The Block citing informed sources, the US Securities and Exchange Commission has returned the S-1 form to potential Ethereum spot ETF issuers with only a few comments. The issuers have been asked to address these comments and resubmit by July 8. This means at least one more round of filings is needed before the ETF can begin trading.
EOS Network Foundation: EOS Staking Program Launching on July 8
The EOS Network Foundation announced that it will launch the EOS staking program on July 8 and is preparing to offer staking rewards. The staking rewards pool holds approximately 250 million EOS tokens. Users can stake EOS into the pool to start earning rewards, with a 21-day waiting period for the unstaking process.
Blast Foundation to Launch Phase Two Reward Program on July 8, Allocating 10 Billion BLAST
Blast has released a user guide for the Phase Two reward program, which will launch on July 8. Similar to Phase One, Phase Two is divided into Blast Points and Blast Gold, with 10 billion BLAST allocated for the rewards.
The main goal of Phase Two is to support the development of mobile Dapps and incentivize users to utilize these Dapps through the Blast application.
KuCoin to Impose 7.5% VAT on All Transaction Types for Nigerian Users Starting July 8
According to Decrypt, starting July 8, 2024, for regulatory reasons, KuCoin will begin charging a 7.5% VAT on each transaction for users registered with KYC information in Nigeria.
Bithumb to End Support for Enterbutton (ENTC) Trading
Bithumb announced that it will terminate support for trading Enterbutton (ENTC). The decision was made after considering various investment concerns, project development, and business progress, finding that the project has not executed as planned, and the foundation's business and development have been continuously delayed. It is difficult to assess the sustainability of the business based solely on the foundation's provided documentation, thus failing to meet the standards for maintaining trading support.
Timeline:
- Trading (buy/sell) end date: Expected to be July 8, 2024, at 15:00 (local time)
- Withdrawal support end date: Expected to be August 5, 2024, at 15:00 (local time)
Kinto Launches Mining Program, Open for Claims on July 8
Layer 2 network Kinto announced on X that its mining program is officially launching, with up to 33% of the token supply allocated over 10 years. Rewards will gradually decrease over time, calculated off-chain, and distributed on-chain weekly, starting from July 8.
The mining program will reward asset deployers and developers, with more Kinto tokens earned the longer and more capital is deployed.
Additionally, Engen founders holding ENGEN tokens can receive a 15-20% reward; using specific protocols can yield extra rewards, such as a 5% bonus for using Mountain Protocol's wUSDM.
Parallel Lending Market to Delist HV-MTL NFT, Users Must Withdraw Assets by July 8
The full-chain L2 network Parallel Network announced on X that its lending market (Parallel Lending Protocol) will delist HV-MTL NFT.
As of July 1, supply operations for HV-MTL NFT assets will be disabled. Users must withdraw HV-MTL NFT assets within a week (from July 1 to July 8), or they may risk losing their HV-MTL NFTs.
Zircuit: Mainnet Launching Soon, Season Two Begins on July 8
The zkRollup network Zircuit officially announced on social media that the mainnet is about to launch.
The snapshot for Zircuit points earned from Season One (staking and previous activities) will be taken on July 7. Season Two will begin on July 8.
July 9 (Tuesday)
Galxe: GAL Migration to G Token Portal Opens on July 9
Galxe announced on social media that the Galxe (GAL) token will migrate to Gravity (G) to unify and optimize the experience across both ecosystems.
G is the native token of Gravity, supporting both the Gravity and Galxe ecosystems. G serves as the gas token for transactions on Gravity, securing the network through staking, and acts as a utility token within the Galxe product suite. As the primary utility token across both ecosystems, G drives governance decisions, incentivizes growth, and facilitates payments.
The migration portal will open for all users on July 9, 2024, and will remain online for at least a year to ensure GAL holders have sufficient time to complete the process.
OKX to Delist RNDR Leverage and Perpetual Contracts
According to an official announcement, OKX will delist RNDR perpetual contracts from 4:00 PM to 5:00 PM (UTC+8) on July 9, 2024, and will delist RNDR leverage trading from 4:00 PM to 5:00 PM (UTC+8) on July 8, 2024.
OpenAI Stops API Support for Non-Supported Countries, Effective July 9
According to Jin10, some developers received a letter from OpenAI early this morning stating, "Based on the data, your organization has API traffic from regions currently not supported by OpenAI. Starting July 9, additional measures will be taken to stop API usage from countries and regions not on OpenAI's supported list."
July 10 (Wednesday)
OKLink Data: DASH Halving Completion Time
According to OKLink data, DASH is expected to complete its halving on July 10, with the block reward post-halving being 1.9065, down from the current block reward of 2.053.
EOS's Final Version of Spring 1.0 Scheduled for Release on July 10
According to an official announcement, the final version of EOS's Spring 1.0 is scheduled for release on July 10, marking the start of the upgrade process. The recommended upgrade period for all EOS nodes is from July 11 to 30 to ensure a seamless transition and network synchronization. The hard fork itself is planned for July 31, making this a critical date for completing all upgrades.
Hunan Hanshou Public Security Reminds STFIL Protocol Staking and Lending Users to Report Situations Before July 10
The Hunan Hanshou County Public Security Bureau issued an announcement on the official website of the Filecoin ecosystem LSD protocol STFIL Protocol stating, "To ascertain the facts of the crime, STFIL staking and lending users are requested to report to our bureau and provide relevant evidence materials. The announcement period is from June 10, 2024, to July 10, 2024."
Previously, STFIL Protocol stated on social media in April that "the core technical team is under investigation by local police in China, and they have hired lawyers to understand the current situation and provide legal assistance to detained individuals." Additionally, last week, FIL on the STFIL platform was transferred to an unknown external address while the core technical team was detained.
According to the Snapshot governance page, the Lido community initiated a proposal vote to "designate an entity to respond to the pending class action against Lido DAO."
On June 27, the court ruled that the plaintiffs' actions to serve legal documents to Lido DAO through various public means were lawful and required Lido DAO to respond within 14 days, or face a default judgment on the claims made by the plaintiffs.
The proposal will close for voting on July 10, with a current approval rate of 100%.
US CFTC Chairman to Attend Senate Hearing on Digital Commodity Regulation as Sole Witness Next Week
The US Senate Committee on Agriculture, Nutrition, and Forestry announced that it plans to hold a hearing on digital commodity regulation on July 10, with US Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam attending as the sole witness.
July 11 (Thursday)
Parallel: cKSM Related Functions to Close on July 11, Users Must Exchange cKSM for KSM
The full-chain L2 network Parallel Network announced on social media that it will officially close cKSM related functions on July 11. Users will need to exchange cKSM for KSM.
It is reported that Crowdloan is an on-chain voting and staking product previously developed by Parallel on the Kusama chain. Users can vote KSM through Crowdloan and receive cKSM LP tokens issued by Parallel to participate in Kusama crowd loans.
OP Labs: Fjord Upgrade to Launch on OP Mainnet on July 11
OP Labs announced on social media that the Fjord upgrade will go live on the OP mainnet at 0:01 on July 11, Beijing time.
This upgrade will bring new features and reduce costs, including a 20-fold reduction in smart wallet key verification costs through RIP-7212 precompilation; developers can create smart wallet experiences without scale and cost limitations; more accurate pricing features and more efficient Brotli batch compression, with transaction costs decreasing by 5 to 15%; and sequencer drift increasing from 10 minutes to 30 minutes.
July 12 (Friday)
ETHGlobal Plans to Hold ETHGlobal Brussels Hackathon from July 12 to 14
ETHGlobal announced that it will hold the ETHGlobal Brussels hackathon from July 12 to 14, with a prize pool of $500,000, and applications will close on July 2 at 7:59.
Holdium: 5% of Holdium to Be Distributed to Pre-order Token Holders Before July 12
The Solana ecosystem loyalty project Holdium stated on the X platform that no registration is required to receive a token airdrop for pre-orderers of the Solana Mobile second-generation phone Chapter 2. Before July 12, 5% of Holdium's supply will be distributed to all holders of pre-order tokens, meaning anyone who pre-orders the Solana Mobile second-generation phone "Chapter 2" before July 12 is eligible for this special airdrop.
July 14 (Sunday)
BNB Chain: Plans for Second Sunset Fork on July 14
BNB Chain announced that the second Sunset fork is scheduled for July 14. During this period, the BNB Beacon Chain staking function will migrate to the BNB Smart Chain, and the Beacon Chain will be phased out. All assets need to be migrated from the Beacon Chain to the BNB Smart Chain:
- Staked BNB: If you have staked BNB, you need to complete the migration before July 14, or it will be automatically unstaked and returned to the user's account within two weeks.
- BNB and other BEP2 assets: These assets also need to be migrated from the Beacon Chain to the BNB Smart Chain, and if not completed by August 15, they will be non-transferable.
The official reminds users to complete asset migration as soon as possible to avoid affecting usage.
Multicoin Capital Commits Up to $1 Million in Donations to Support Senate Candidates Advocating for Cryptocurrency Before July 14
According to CoinDesk, Multicoin Capital has committed to providing up to $1 million in funding to support Senate candidates advocating for cryptocurrency.
Multicoin plans to provide financial support to four Republican candidates by donating to the conservative super PAC "Sentinel Action Fund." The amount donated by Multicoin will depend on the results of the Sentinel crypto donation campaign.
According to Sentinel's website, Multicoin will match 100% of (SOL) token donations sent to Sentinel before July 14. Gemini is hosting Sentinel's crypto donation portal and is accepting various tokens, including SOL.
Specific Time Undetermined
US House May Vote Next Week to Overturn Biden's Veto on SAB 121
According to Cointelegraph, the controversial veto by US President Joe Biden on the SAB 121 bill may be voted on by the House next week. SAB 121 is a proposed rule requiring entities holding cryptocurrencies to record these holdings on their balance sheets.
According to the weekly schedule released by House Majority Leader Scalise, the rule is currently on the House's "legislation likely to be considered" list. Voting to overturn or uphold the presidential veto is a constitutional obligation of the House, thus requiring another vote. The vote may take place on Tuesday or Wednesday.
Bloomberg Analyst: Ethereum Spot ETF May Launch Later Next Week or During the Week of July 15
Bloomberg analyst James Seyffart tweeted that Bitwise Invest has resubmitted a revised Ethereum ETF S-1 form, and more issuers are expected to submit the form this week. The analyst believes that Ethereum spot ETF products may launch later next week or during the week of July 15.
Jupiter: New On-Chain Trading Method Supported by Ape&the Vault Launching Next Week
Jupiter announced on X that it recently launched ape.jup.ag and has released some fixes to address user feedback, adding a refresh icon in the Vault to quickly check updated balances and history, while also fixing display errors on small devices. They are currently optimizing the Ape application, expected to be completed tomorrow.
Jupiter also stated that a new on-chain trading method supported by Ape&the Vault will launch next week.
According to The Block, based on a statement released by the White House on Thursday, US President Joe Biden announced the nomination of Commodity Futures Trading Commission (CFTC) Commissioner Christy Goldsmith Romero to lead the Federal Deposit Insurance Corporation (FDIC) and nominated CFTC Commissioner Kristin Johnson for the position of Assistant Secretary for Financial Institutions at the Treasury.
The Biden administration is pushing for initial nomination hearings to start during the week of July 8.
Notcoin Launches Telegram Gaming Accelerator, First Applications Open Next Week
According to official news, TON ecosystem click game Notcoin announced the launch of the Telegram Gaming Accelerator, aimed at empowering Telegram mini-apps through blockchain to attract millions of users. Notcoin is collaborating with AI analytics company Helika to expand and launch a game developer accelerator.
The project is based on the successful experience of Helika Accelerate and $50 million in funding, which will help game studios, mobile applications, and independent developers build excellent gaming experiences on the Telegram platform and TON blockchain. The first applications will open next week.
Samourai Wallet Founder to Appear in Court Next Week in New York City
A letter submitted on July 3 shows that the US government has agreed to bail Samourai Wallet developer William Lonergan Hill (also known as TDev), who will appear in court in New York City next week after being extradited from Portugal.
Previously, it was reported that on May 28, the US Department of Justice (DoJ) held the first hearing regarding the case of Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill in the Southern District of New York.
