This Week's News Preview | Russia will implement digital currency exchange trading under the EPR framework; DOGS and ORDER will conduct TGE
Highlights of the week from August 26 to September 1.整理：Fairy，ChainCatcher
Key News:
- DOGS TGE and listing will take place on August 26
- Orderly Network announces ORDER token will have TGE on August 26
- GammaSwap announces GS token will launch LBP on August 30
- Circle's minting service for USDC on Flow blockchain continues until August 27
- Coinbase will support 1:1 conversion between Euro and Euro stablecoin EURC on August 28
- Russia will implement digital currency cross-border payment law and legalize crypto mining starting September 1
August 26 (Monday)
Starknet v0.13.2 version is set to deploy to mainnet on August 26
Ethereum Layer 2 network Starknet announced on platform X that Starknet v0.13.2 is about to launch, featuring parallel execution capabilities, with significantly faster confirmation and block packaging times. For users, the main effect is that L2 transaction times will be reduced to about 2 seconds, specifically:
- Testnet launch date: August 5;
- Mainnet launch date: August 26.
OKX's DOGS (DOGS) spot trading opens
According to the official announcement, due to changes in the DOGS project's token issuance time, OKX will adjust the DOGS (DOGS) spot trading and pre-market contract settlement times accordingly. The specific arrangements are as follows:
- DOGS deposit opening time: August 14 at 5:00 PM (UTC+8)
- DOGS auction time: August 26 from 7:00 PM to 8:00 PM (UTC+8)
- DOGS/USDT spot trading opening time: August 26 at 8:00 PM (UTC+8)
- DOGS withdrawal opening time: August 27 at 6:00 PM (UTC+8)
Gate will list Orderly Network (ORDER) on August 26
According to the official announcement, Gate will list Orderly Network (ORDER) on August 26 at 6:00 PM (UTC+8).
Orderly Network is a cloud liquidity infrastructure project that integrates cross-chain derivatives liquidity. By consolidating orders from different chains into a unified on-chain order book, Orderly Network creates a unified cross-chain liquidity ecosystem, thereby improving trading efficiency, providing deeper liquidity, and reducing spreads.
Orderly Chain is built on the OP Stack, utilizing Celestia's data availability and LayerZero's cross-chain information protocol, providing a settlement layer and ledger functionality for cross-chain trading.
DOGS extends airdrop claim period again, TGE will occur on August 26
The meme project DOGS officially stated that over 8 million certified users have requested to deposit their DOGS directly into trading platforms and Telegram wallets.
DOGS has decided to adjust the TGE date again, with the updated schedule as follows:
- The deadline for claiming to trading platforms and Telegram wallets will be extended to August 23 at 24:00 (Beijing time);
- The service for claiming to non-custodial wallets will be available from August 26 at 16:00 (Beijing time);
- TGE and listing will take place on August 26 at 20:00 (Beijing time).
Orderly Network announces ORDER token will have TGE on August 26, users can claim all airdrops on the same day
According to official news, the cross-chain derivatives liquidity layer Orderly Network announces that the ORDER token will have its TGE on August 26, and users can claim all airdrops on that day. Staking activities will also begin on the same day.
BitFlyer completes acquisition of FTX Japan and will rename it on August 26
According to CoinPost, Japanese exchange BitFlyer announced today that it has completed the acquisition of 100% of FTX Japan's circulating shares, making FTX Japan a wholly-owned subsidiary. The subsidiary will be renamed on August 26, and FTX Japan will develop new cryptocurrency custody services under bitFlyer Holdings.
Additionally, BitFlyer stated that it plans to provide services related to cryptocurrency spot ETFs once the Japanese legal framework is in place.
August 27 (Tuesday)
Sharpe AI: SAI Season 1 airdrop snapshot completed, eligibility query will open on August 27
Sharpe AI announced on social media that it has completed the SAI Season 1 airdrop snapshot, and the eligibility query portal will open on August 27.
Circle will stop supporting USDC on the Flow blockchain, its USDC minting service continues until August 27
According to official news, due to an upcoming network upgrade, Circle will stop supporting USDC on the Flow (Cadence) blockchain at 3:00 AM (Eastern Time) on September 3, 2024.
USDC minting on Flow will continue until noon (Eastern Time) on August 27, 2024.
August 28 (Wednesday)
Coinbase will support 1:1 conversion between Euro and Euro stablecoin EURC on August 28
According to The Block, Coinbase will enable the conversion between Euro fiat and the Euro-pegged stablecoin EURC in supported jurisdictions on August 28, with a conversion ratio of one to one.
EURC is pegged to the value of the Euro, similar to how USDC is pegged to the value of the US dollar. According to Coinbase's email, EURC complies with the EU's new Markets in Crypto-Assets (MiCA) regulations.
Conversions conducted on Coinbase Advanced will incur no related fees. Additionally, Coinbase will launch a new EURC-USDC order book on August 29 and will abolish the existing EURC-EUR and EURC-USD order books.
Stacks Foundation: Nakamoto upgrade will activate on August 28
The Stacks Foundation recently announced on X that the final code for the Nakamoto upgrade will be sent to network operators on August 28, and the activation window will open. Network operators will upgrade Cycle 92, and once the Signer successfully switches from Cycle 92 to Cycle 93, core developers will select the final hard fork block.
It is reported that the Nakamoto upgrade aims to significantly enhance security and speed by increasing transaction throughput, achieving "100% Bitcoin finality," and reducing miner extractable value (MEV).
Additionally, the project's planned non-custodial, programmable 1:1 Bitcoin-supported asset sBTC will be "ready to launch on the mainnet within four weeks after the Nakamoto hard fork."
Elixir will enable ETH withdrawals on August 28, existing potion of withdrawing users will be penalized by 50%
X user Erebos stated that the Elixir official page shows that ETH withdrawals will be enabled on August 28, but the existing potion of withdrawing users will be penalized by 50%, which will be allocated to users converting to deUSD (decentralized synthetic USD), meaning Season 1 LPs will be forced to remain until Season 2.
August 29 (Thursday)
Finschia and Klaytn's merged Kaia mainnet will officially launch on August 29, FNSA will cease trading
The Kaia DLT Foundation announced that the Kaia mainnet will officially launch on August 29, 2024. To ensure a smooth transition, the Kaia Foundation has released a series of important timelines:
From August 23, the Finschia mainnet will stop new staking;
On August 26, the Finschia and Klaytn mainnets will update on-chain parameters;
On August 27, Finschia governance members will take down validation nodes and join the Kaia governance committee;
On August 28, the Finschia mainnet will undergo final upgrades.
With the launch of the Kaia mainnet, the Kaia Portal and Kaia Square will also be launched simultaneously, providing users with token exchange, airdrop, staking, and other functions.
It is worth noting that starting August 29, all exchanges will stop FNSA deposit and withdrawal services, and FNSA holders should closely monitor exchange announcements to transfer assets to self-custody wallets in a timely manner. After the mainnet launch, KAIA tokens will begin trading, but in the short term, KLAY may still be used as the token code, and exchanges will gradually update to KAIA.
Previous news reported that the Kaia project, resulting from the merger of Finschia and Klaytn, launched the v1.0.0 testnet "Kairos."
Coinbase International will launch perpetual contracts for Render, Saga, and Threshold
Coinbase will add support for perpetual contracts for Render, Saga, and Threshold on Coinbase International Exchange and Coinbase Advanced. The RENDER-PERP, SAGA-PERP, and T-PERP markets will open at or after 9:30 AM (UTC) on August 29, 2024.
August 30 (Friday)
Binance conducts CAT token airdrop snapshot
FLOKI published an article stating that Binance will support the airdrop of Simon's Cat (CAT) to FLOKI holders on the platform. If users hold FLOKI on Binance, they do not need to withdraw their tokens from Binance.
Users must hold at least 400,000 FLOKI tokens on Binance to qualify for the CAT airdrop, and Binance will conduct the airdrop based on the snapshot taken at 07:59:59 on August 30, 2024, distributing 390 million CAT tokens to eligible FLOKI holders in proportion to their holdings.
GammaSwap announces GS token economics: 2% for airdrop, LBP will launch on August 30
The perpetual on-chain options protocol GammaSwap announced on August 17 that it will soon launch its governance token $GS. In terms of token distribution, the total supply is 1.6 billion, with 37% for the treasury, 23% for the core team, 17% for investors, 15% for liquidity mining and staking, 5% for LBP, 2% for airdrop, and 1% for advisors.
GammaSwap's token economics design includes GS tokens, locked GS (esGS), and multiplier points (MP). GS tokens can be staked to earn 30% of protocol revenue (in ETH), esGS rewards, and MP points. esGS can be obtained through staking and liquidity mining, and can be further staked or unlocked within 30 days. MP points are earned through staking, enhancing the APR of ETH rewards.
GammaSwap plans to launch LBP on August 30, with the airdrop to follow. The protocol has been running for nearly a year, with a cumulative perpetual options trading volume exceeding $100 million and a peak TVL of over $6 million.
Saga: Vault 4 airdrop claim window has closed, distribution will occur on August 30
The modular blockchain platform Saga tweeted that it has ended the claim period for the fourth phase (Vault Four) airdrop and will distribute it on August 30.
Ghana's central bank releases draft rules for cryptocurrency exchanges, consultation ends on August 31
According to Cointelegraph, the Bank of Ghana (BoG) has proposed new regulatory measures for digital assets after conducting extensive internal reviews of Bitcoin, USDT, and other cryptocurrencies.
On August 16, the Bank of Ghana released draft guidelines for digital assets and sought feedback from the public and industry stakeholders on the upcoming cryptocurrency regulations.
According to the Bank of Ghana, data collected over the past three years indicates a significant increase in demand for cryptocurrencies in Ghana. Therefore, Ghana intends to implement laws targeting risks such as money laundering, terrorist financing, and fraud, and to take measures to protect consumer rights.
The Bank of Ghana has proposed a cryptocurrency regulatory framework based on eight pillars, primarily aimed at strengthening registration and reporting requirements for cryptocurrency trading platforms or virtual asset service providers (VASPs). The central bank is currently seeking advice from industry insiders, experts, and the public, with a deadline of August 31.
September 1 (Sunday)
UniSat founder: Fractal launches OP_CAT during today's testnet reset, plans to activate on mainnet starting September 1
UniSat founder and CEO Lorenzo stated on social media that rapid progress has been made in the implementation of smart contracts and cross-chain bridges. In terms of smart contracts, Fractal launched OP_CAT during today's testnet reset and plans to activate it on the mainnet starting September 1. Regarding cross-chain bridges, 3 to 5 methods for transferring assets from the Bitcoin mainnet to Fractal are under development.
Russia will implement digital currency cross-border payment law and legalize crypto mining starting September 1
According to RIA Novosti, the Russian Duma passed a law in the second and third readings that allows for digital currency cross-border settlements and exchange trading within the framework of an experimental legal regime (EPR) starting September 1, 2024.
Additionally, the Russian Duma also passed a law in the second and third readings that will legalize crypto mining in Russia starting in November. The law outlines the procedures and conditions for conducting such activities. Legal entities and individual entrepreneurs registered with the Ministry of Digital Development of the Russian Federation will be allowed to engage in crypto mining.
