Weekly Preview | The Federal Open Market Committee of the Federal Reserve holds a monetary policy meeting; Token unlocks for OP, YGG, AGIX, and others.

News preview:

  • The Federal Open Market Committee of the United States will hold a monetary policy meeting from July 25th to 26th.
  • The House Financial Services Committee of the United States will vote on cryptocurrency legislation on July 26th. This legislation will establish a comprehensive regulatory framework for stablecoins and cryptocurrency trading in the United States.
  • The State Duma of the Russian Parliament plans to vote on four laws related to cryptocurrencies at the end of the spring session on July 30th.
  • The cryptocurrency investment decision platform LunarCrush will release a beta version of its social search tool next week.
  • The claim page for Season 2 of the decentralized identity protocol SLianGuaiCE ID’s Voyage will be open until July 29th.
  • According to Token Unlocks, Optimism (OP) will unlock approximately 24.16 million tokens worth about $38 million at 12:00 on July 30th.

For more previews of the week, please download the LianGuaiNews APP and follow the event calendar section launched by LianGuaiNews to read more blockchain news and in-depth articles anytime, anywhere.

July 24th

Project updates:

Exactly Protocol will launch its governance token EXA, and the airdrop will be distributed on July 24th

DeFi lending protocol Exactly Protocol will distribute EXA airdrop rewards at 22:00 on July 24th (Beijing time). It is reported that EXA token is the native governance token of Exactly DAO, with a total supply of 10 million tokens. The distribution plan is as follows: 4.5 million EXA will be allocated to the community, 4.5 million EXA will be allocated to the team, advisors, and investors, and 1 million EXA will be allocated to the DAO treasury.

ETC announcement: Ethercluster service will be terminated on July 24th, relevant parties should migrate ETC mainnet and Mordor testnet endpoints

Ethereum Classic (ETC) officially announced that its Ethereum-based open-source cloud architecture Ethercluster will terminate its service on July 24th, 2023. This will affect all relevant parties using ETC mainnet and Mordor testnet Ethercluster endpoints, including wallet operators, exchanges, mining pools, and DApp developers. Ethereum Classic emphasized that all relevant parties should complete the migration of ETC mainnet and Mordor testnet endpoints before this date to ensure smooth operation of their businesses.

Dune will disable automatic refresh for all content starting from July 24th and introduce a new dynamic refresh system

Blockchain data analysis tool Dune announced that it will disable automatic refresh (TTL) for all content on Dune starting from July 24th and introduce a new dynamic refresh system. This system will increase the update frequency of popular dashboards, while reducing the update frequency of less popular dashboards. The previous TTL refresh system on Dune automatically refreshed dashboards with data up to 6 hours ago.

Exchanges:

Cryptocurrency financial company Delio will temporarily suspend some services and stop paying virtual asset interest to users on July 24th

Korean cryptocurrency financial company Delio announced that it will temporarily suspend some services and stop paying virtual asset interest to users on July 24th. Delio explained that in the search and seizure conducted on July 18th, all assets owned by customers and the company, including other cold wallets and account books, were confiscated by the prosecutor’s office.

July 25th

Regulation:

The Federal Open Market Committee will hold a monetary policy meeting from July 25th to 26th.

Exchange:

Binance will terminate redemption services and delist XRPUP and XRPDOWN leveraged tokens on July 25th.

Binance will terminate redemption services and delist XRPUP and XRPDOWN leveraged tokens on July 25th at 14:00 (UTC+8). Users are advised to redeem their held leveraged tokens through the wallet page or leveraged tokens page in advance. If users still hold these leveraged tokens at the time of delisting, Binance will convert them into equivalent USDT based on the net value at the time of delisting, and distribute them to user accounts within 24 hours. After the distribution is completed, leveraged token assets will be removed from the wallet.

Project Update:

Christie’s collaborates with luxury brand Gucci to launch an NFT series, with the auction ending on July 25th.

Christie’s, the auction house with a 256-year history, collaborates with luxury fashion brand Gucci to launch a digital art NFT series. The series, titled “Future Frequencies: An Exploration of Generative Art and Fashion,” draws inspiration from Gucci textiles, color palettes, and its Bamboo 1947 collection. It includes 21 NFTs created by AI artist Claire Silver, generative artist Emily Xie, decentralized autonomous artist Botto, and others. The auction will take place on Christie’s 3.0 digital art platform, starting on July 18th and ending on July 25th.

Token Unlock:

Acala (ACA) will unlock approximately 4.66 million tokens worth about $320,000 on July 25th at 8:00.

July 26th

Project Update:

Sotheby’s launches blockchain project “Gen Art Program” for generative artists, with the first auction on July 26th.

Sotheby’s auction house is launching the blockchain project “Gen Art Program” for generative artists. The Gen Art Program will auction the works of two to three generative artists annually on the blockchain. The first auction will be held on July 26th, featuring 500 works by generative artist Vera Moln├ír. The auction will take place entirely on the blockchain and only accept ETH as payment.

Regulation:

The U.S. House of Representatives will vote on cryptocurrency legislation on July 26th.

The U.S. House Financial Services Committee will vote on cryptocurrency legislation on July 26th. This legislation aims to establish a comprehensive regulatory framework for stablecoins and cryptocurrency transactions in the United States. The vote was originally scheduled for this Wednesday. At a digital asset legislative hearing held by the committee last month, several Democratic lawmakers expressed skepticism about the Republican-led legislation and invited an industry witness who believes that the existing securities laws are sufficient to regulate cryptocurrency in the United States.

July 27th

Exchange:

Binance Margin will delist OGN/BUSD and other cross and isolated margin trading pairs on July 27th

Binance Margin will delist OGN/BUSD, OSMO/BUSD, REI/BUSD, and SPELL/BUSD cross and isolated margin trading pairs at 14:00 (Beijing time) on July 27th, 2023. At 14:00 (Beijing time) on July 20th, 2023, Binance Margin will also suspend OGN/BUSD, OSMO/BUSD, REI/BUSD, SPELL/BUSD isolated margin borrowing.

Binance Joint Margin Mode will stop supporting ADA and DOT as collateral assets on July 27th

Starting at 14:30 (UTC+8) on July 27th, Binance Futures will stop supporting ADA and DOT as collateral assets in Joint Margin Mode. The maximum transferable limit of ADA and DOT in Joint Margin Mode was adjusted to zero at 16:00 (UTC+8) on March 20th.

Project Update:

MILK, the social token under Cool Cats, will stop generating after July 27th

MILK, the social token under the NFT project Cool Cats, will stop generating after July 27th, 2023. It is expected to launch a token burning activity for MILK this summer.

Token Unlock:

Yield Guild Games (YGG) will unlock approximately 13.02 million tokens, worth about $2 million, on July 27th at 22:00

July 28th

Project Update:

The snapshot of the Maverick Governance Incentive program will be taken at 04:00 on July 28th (Beijing time)

Maverick Protocol, a DeFi infrastructure provider, is launching the Governance Incentive program for all veMAV holders, who will be eligible for governance bonus incentives. If MAV is staked to obtain veMAV, holders will qualify for additional voting incentives provided through the Governance Incentive program. The snapshot of the Governance Incentive program will be taken at 04:00 on July 28th (Beijing time). All veMAV holders at the time of the snapshot will receive a proportionate distribution of 10 million MAV automatically staked for 4 years, providing them with more veMAV.

Bullshark Quests launched by Mysten Labs will end on July 28th at 14:30

Mysten Labs, the development company of Sui, has launched Bullshark Quests, a new way for Bullshark holders to earn SUI rewards. The first Quest has been initiated, and the reward pool includes 5 million SUI. Bullshark holders can compete for rewards based on their participation in Polymedia, Mini Miners, DeSuiLabs, and Ethos Wallet applications. The Quest period is from 3:00 on July 7th to 14:30 on July 28th (Beijing time), with two reward pools of 2.5 million SUI each, provided by the Sui Foundation.

Dune introduces NFT series Dune Airdump, with public sale starting on July 28th (Beijing time)

Dune, a blockchain data analysis platform, has launched the NFT series Dune Airdump on the NFT marketplace Zora, which appears to be mocking airdrop actions. The series has a total supply of 1337 tokens and is released in pre-sale and public sale phases. The public sale will start at 6:00 on July 28th (Beijing time) at a price of 0.01 ETH.

Token Unlocking:

SingularityNET (AGIX) will unlock approximately 9.97 million tokens, worth about $2.31 million, at 8:00 on July 28th.

July 29th

Project Update:

The deadline for claiming the second season of SLianGuaiCE ID airdrop is July 29th.

The second season of the decentralized identity protocol SLianGuaiCE ID, Voyage Season 2, has concluded with approximately 530,000 addresses participating in the event. The airdrop claim page for the second season will be open from June 29th to July 29th, distributing a total of 22,482,583 IDs. Users can visit the page to check their allocation.

Token Unlocking:

Galxe (GAL) will unlock approximately 586,000 tokens, worth about $740,000, at 20:00 on July 29th.

July 30th

Policy and Regulation:

The Russian legislative body will vote on four cryptocurrency-related bills by the end of July.

Anatoly Aksakov, Chairman of the Financial Market Committee of the Russian Parliament, stated that the State Duma, the lower house of the Russian Parliament, plans to vote on four laws related to cryptocurrencies during the spring session ending on July 30th. These bills aim to regulate cryptocurrency mining, cross-border crypto payments, taxation of digital assets, and responsibilities for illegal use of digital assets. Aksakov mentioned that major Russian companies have actively been using cryptocurrencies in foreign trade settlements, but they want to see legislation outlining the legal framework for such transactions.

Token Unlocking:

Optimism (OP) will unlock approximately 24.16 million tokens, worth about $38 million, at 12:00 on July 30th.

Specific time to be determined

OpenAI will increase the message limit for ChatGPT Plus customers to access GPT-4 and release the ChatGPT Android App next week.

OpenAI announced that ChatGPT Plus customers will be able to send twice as many messages to GPT-4. The new limit will be introduced next week, allowing 50 messages every 3 hours. Previously, Plus users were limited to 25 messages every 3 hours when using GPT-4. Additionally, OpenAI will release the ChatGPT Android App next week, and users can pre-order the app on the Google Play Store.

LunarCrush, a cryptocurrency investment decision platform, will release a beta version of its social search tool next week.

LunarCrush, based in Los Angeles, has completed a $5 million Series A funding round, led by Draper Round Table and INCE Capital. Initially collecting social media data about digital assets, non-fungible tokens (NFTs), and stocks, LunarCrush aims to assist users in making trading decisions based on trends. Next week, LunarCrush will release the beta version of its social search tool.

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