News preview:
- The Sandbox (SAND) will unlock approximately 330 million tokens worth about $130 million at 16:00 on August 14th.
- dYdX plans to launch Public Testnet 2 on August 14th.
- ApeCoin (APE) will unlock approximately 15.6 million tokens worth about $31.5 million at 8:00 on August 17th.
- Ethereum developers have agreed to launch the next official test network Devnet 8 for the Deneb/Cancun upgrade early next week.
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August 14th (Monday)
Project Updates:
dYdX postpones the launch of Public Testnet 2 to August 14th
- LianGuaiyLianGuail enters the US dollar stablecoin market, analyzing new regulatory ideas for stablecoin supervision.
- Ethereum’s Cancun upgrade is approaching, reviewing the past, present, and future of the Cancun upgrade.
- SLianGuairkDAO airdrop rules interpretation The airdrop is expected to take place next year, with an estimated yield rate in the single digits.
dYdX is currently working on perfecting some features of Public Testnet 2 and plans to launch it on August 14th.
opBNB Testnet will undergo a PreContract hard fork on August 14th
BNB Chain announced that opBNB Testnet will undergo a PreContract hard fork to update the pre-deployed contract WBNB, with the name set as Wrapped BNB and the symbol set as WBNB. The hard fork block height is 5114294 and is expected to occur at 14:00 on August 14th Beijing time. opBNB full node operators need to complete the upgrade before the specified time.
Token Unlock:
The Sandbox (SAND) will unlock approximately 330 million tokens worth about $130 million at 16:00 on August 14th
August 15th (Tuesday)
Policy and Regulation:
Russia plans to start pilot testing of the digital ruble on August 15th
Olga Skorobogatova, Deputy Governor of the Central Bank of Russia, announced that Moscow, the capital of Russia, and 10 other cities will conduct pilot testing of the digital ruble. Over 12 Russian banks will participate in the test and real transactions are planned to begin on August 15th. Moscow will also launch digital ruble transactions in the public transportation system. In July of this year, the Russian parliament passed legislation on introducing a digital currency by the Central Bank of Russia. Russian President Putin subsequently signed the digital ruble bill into law, paving the way for CBDC payments in the country.
Exchanges:
Binance Futures will undergo a scheduled upgrade for COIN-M futures trading services for approximately 1 hour on August 15th
Binance Futures will perform a scheduled upgrade for COIN-M futures trading services starting from 10:00 (Beijing time) on August 15th to improve system performance and stability. The upgrade is expected to take about 60 minutes. Users accessing the COIN-M trading page may experience intermittent issues when viewing information under the “Trading” section. API users may encounter intermittent HTTP 5xx server errors when using the GET /dapi/v1/aggTrades command.
Project Updates:
Sentiment V1 will be discontinued due to infeasible expansion architecture and will no longer accept new loans starting from August 15th
DeFi lending protocol Sentiment announced on Twitter that it has decided to shut down Sentiment V1 on August 22nd and shared several important points to note: Sentiment V2 is currently under development, and users can still withdraw even after support for the UI is deprecated. The shutdown will be carried out in three steps. Starting from August 15th, the market will no longer accept new loans; borrowers and lenders can repay and withdraw funds; after August 22nd, the web application will still be accessible, but core contributors will no longer maintain it.
CyberConnect will launch the first season community rewards on August 15th, distributing a total of 2.4 million CYBER tokens
The Web3 social graph protocol CyberConnect plans to launch the first season community rewards at 20:00 on August 15th (Beijing time), with 2.4% of the total supply (i.e., 2.4 million CYBER tokens) available for claiming. The following NFT holders are eligible for the rewards: Mystery Box (ETH, BNB networks), The Shards (ETH, BNB networks), Mini Shards (ETH, BNB networks), W3sT, early adopters of CyberProfile, Premium Handle (with at least 11 features). The snapshot was taken at 14:00 on August 1st (Beijing time), and transfers of these NFTs have been temporarily suspended. Unclaimed NFTs will be airdropped to users’ wallets. CyberTrek and FanClub will pause NFT rewards and transition to a new points system.
Gitcoin will open a new round of donation activities from August 15th to August 29th
Gitcoin announced the opening of a new round of donation activities, Gitcoin Grants 18, from August 15th to August 29th. Applications were opened on August 1st.
August 16th (Wednesday)
Exchanges:
KuCoin Mining Pool will temporarily suspend operations starting from August 16th
Cryptocurrency exchange KuCoin announced that it will temporarily suspend its mining pool services, effective from 00:00 on August 16th, 2023 (Beijing time), until further notice. During the suspension, users will retain full access and control over their assets, and the situation will not affect the security of users’ account assets. All other KuCoin products will continue to operate as usual.
Projects:
Cosmos Hub will undergo a v11 upgrade at block 16596000, expected on August 16th
Cosmos Hub tweeted that proposal #804 has just passed and a v11 upgrade will take place at block 16596000, expected to be carried out on August 16th. The v11 upgrade includes various core dependency updates and fixes, and removes the liquidity module. During the upgrade, there will be a brief downtime, and transactions and transfers may be delayed, but the team expects the downtime to be limited.
Genesis has extended the mediation period with creditors for the last time, seeking to reach an agreement before August 16th
According to Bloomberg, at a Wednesday hearing, lawyers for bankrupt crypto lending firm Genesis stated that the company has extended the mediation period with creditors for the final time. Company lawyer Sean O’Neal told US bankruptcy judge Sean Lane, “If we don’t make substantive progress on the transaction in principle in the next couple of weeks, we don’t believe that we would be seeking to extend the mediation period any further.” Thus, the negotiations must conclude by August 16th. The lawyer stated that if an agreement is not reached by August 16th, Genesis will proceed with its existing bankruptcy plan but with certain modifications. This mediation is one of the final hurdles to prevent Genesis from going bankrupt.
Token Unlocking:
Flow (FLOW) will unlock approximately 7.29 million tokens worth about $4 million at 8:00 am on August 16th.
Euler (EUL) will unlock approximately 157,000 tokens worth about $400,000 at 5:00 pm on August 16th.
August 17th (Thursday)
Exchange:
Binance Margin will delist 7 full-margin and isolated-margin trading pairs including ASTR/BUSD on August 17th.
Binance Margin will remove ASTR/BUSD, AUDIO/BUSD, BAT/BUSD, BSW/BUSD, NMR/BUSD, PEOPLE/BUSD, RSR/BUSD full-margin and isolated-margin trading pairs at 14:00 on August 17th (Beijing time). Binance recommends users close positions and/or transfer assets from the margin wallet to the spot wallet before this time. Users can still trade these tokens in other available trading pairs on Binance Margin platform.
Project Update:
Haru Invest announced its attendance at the bankruptcy-related court hearing on August 17th.
Korean digital asset management platform Haru Invest announced its attendance at the bankruptcy-related court hearing scheduled for August 17th. Haru Invest CEO Hugo Lee did not attend the hearings on July 5th and 18th, so the court had to postpone the questioning date to the 17th of this month. When victims criticized the series of absences, Hugo Lee appointed law firm Apro as the company’s defense lawyer on July 31st, and this attendance announcement is interpreted as a decision made after the appointment of legal representation.
It is expected that the court will inquire about the scale and list of creditors, the amount of losses suffered, and other related matters during the hearing. Similar questions were also asked during the bankruptcy-related hearing of “Delio” held on July 20th, but the representative of “Delio” did not directly answer these questions. So far, Haru Invest has claimed that they had to halt user withdrawals because they could not retrieve the funds entrusted to virtual asset trading company B&S Holdings.
Token Unlocking:
ApeCoin (APE) will unlock approximately 15.6 million tokens worth about $31.5 million at 8:00 am on August 17th.
August 18th (Friday)
Exchange:
Binance Liquid Swap will remove ALGO/BNB, TRX/BTC, and other liquidity pools on August 18th.
Binance Liquid Swap will close the following liquidity pools at 12:00 (Beijing time) on August 18th: ALGO/BNB, ALPINE/BTC, ALPINE/USDT, ANT/BNB, ATA/USDT, ATOM/BTC, AXS/BNB, BDOT/DOT, BSW/BNB, BSW/USDT, BTC/USDC, CAKE/BNB, CAKE/BTC, CHR/BNB, COS/BNB, CRV/USDT, ETH/USDC, HARD/BNB, HARD/USDT, HFT/BTC, IDEX/BNB, IOTX/USDT, KDA/BTC, MBOX/BNB, MBOX/USDT, MDX/USDT, PROM/BTC, PROM/BUSD, RPL/USDT, RUNE/BNB, SAND/BNB, SAND/BUSD, SANTOS/BTC, STG/BTC, SUSHI/BUSD, THETA/ETH, TRX/BTC, VET/BNB.
Starting from 12:00 on August 14, 2023 (Beijing time), users will no longer be able to add liquidity to the above-mentioned liquidity pool. Users can redeem assets from the above-mentioned liquidity pool before this time. Assets that are not redeemed in a timely manner will be automatically received in the user’s spot wallet on August 18, 2023, at 12:00.
Governance Voting:
Curve Finance initiates voting on the proposal to reconstruct the Stableswap Pool for stable liquidity, ending on August 18
After being affected by the Vyper vulnerability, DeFi stablecoin trading platform Curve Finance initiated a proposal to reconstruct the next generation of Stableswap Pool, and started a community vote on August 8. It is reported that the fees for the Stableswap Pool launched by Curve Finance this time will be reduced by 4 basis points. The current voting information shows a 100% approval rate, and the voting will end on August 15.
August 19 (Saturday)
Token Unlocking:
Oasis Network (ROSE) will unlock approximately 171 million tokens, worth about $8 million, at 0:00 on August 19
Specific time to be determined
Project Update:
Ethereum Conference: Developers agree to launch Devnet 8 at the beginning of next week
Christine Kim, Vice President of Galaxy Research, stated that developers have agreed to launch the next official test network, Devnet 8, for the Deneb/Cancun upgrade at the beginning of next week. Devnet 8 is the first dedicated test network that will activate all relevant Ethereum Improvement Proposals (EIPs) that have been finalized for the Dencun upgrade. The Ethereum Foundation is starting to engage with third-party audit services to formally review the lightweight client’s PR.
US SEC to file “intermediary appeal” on the Ripple case ruling, Ripple will submit a response to the court next week
The SEC has filed a letter with the U.S. District Court for the Southern District of New York indicating that it will file an “intermediary appeal” against the federal judge’s ruling on the Ripple case. The SEC stated that it is seeking to appeal certain aspects of the ruling, while other aspects will proceed to trial. Approving the intermediary appeal may avoid the need for the SEC and the U.S. government to go through two trials. The SEC noted that Ripple must respond by August 16, 2023 (one week after the submission of the SEC’s letter), and suggested submitting a statement summarizing the appeal on August 18. Ripple will have two weeks to respond, and if the judge signs the document, the SEC will have an additional week to reply to Ripple.
Last month, a federal judge ruled that while Ripple’s direct sales of XRP to institutional investors violated securities laws, its programmatic sales to retail investors through exchanges did not. Subsequently, Ripple’s Chief Legal Officer Stuart Alderoty tweeted that the SEC currently does not have the “right” to appeal, which is why they requested permission to file an “intermediary” appeal. Ripple will submit a response to the court next week.
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