Weekly preview | Ethereum Layer 2 network Starknet mainnet launches STRK staking; HashKey Group ecological token HSK officially launched

News preview:

• Zircuit announced that its native token $ZRC will be officially available for trading on November 25, 2024;
• Ethereum Layer 2 network Starknet announced that STRK staking will be launched on the mainnet on November 26;
• Web3 communication protocol WalletConnect will launch WCT token claiming and staking on November 26;
• HashKey Group's ecological token HSK officially announced that it will be launched on HashKey Global on November 26;
• Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 a.m. Beijing time on November 26, accounting for 0.05% of the current circulation, with a value of approximately US$18.9 million;
• ApeX (APEX) will unlock approximately 9.24 million tokens at 8:00 a.m. Beijing time on November 27, accounting for 19.09% of the current circulation, with a value of approximately US$17.8 million;
• Immutable (IMX) will unlock approximately 24.52 million tokens at 8:00 am Beijing time on November 29, accounting for 1.47% of the current circulation and worth approximately US$40.5 million.

November 25

Policy supervision:

South Korea plans to implement a 20% crypto tax from the beginning of 2025, and the amendment is expected to be voted on by the National Assembly Taxation Subcommittee on November 25

According to Seoul News, South Korea's ruling Democratic Party plans to implement a 20% tax policy on cryptocurrency gains (22% including local taxes) in early 2025 as originally planned. The tax was originally scheduled to take effect on January 1, 2022, but was postponed twice to 2025 due to strong opposition from investors and the industry. The revised plan will increase the tax-free amount of crypto gains from 2.5 million won (about $1,795) to 50 million won (about $35,919). In addition, the amendment allows a certain percentage of the sales price to be declared as the purchase cost when accurate purchase records cannot be provided. The Democratic Party said that increasing the tax-free amount will actually exempt most investors from paying taxes. The amendment is expected to be voted on by the National Assembly's Tax Subcommittee on November 25 and submitted to the National Assembly for deliberation on November 26.

Project News:

Zircuit’s ZRC token transfer restrictions to be lifted on November 25

Zircuit announced that its native token $ZRC will be officially available for trading on November 25, 2024, and revealed that it will release a major product next week. Zircuit has made significant achievements in the past 12 months, including launching a $2 billion liquidity hub, providing airdrops to more than 200,000 users and 20 exchanges through Eigenlayer, and attracting support from more than 70 strategic investors such as Binance Labs and Pantera Capital. Zircuit currently has 342,000 on-chain wallet users.

SynFutures points activity will end on November 25

SynFutures announced that its Oyster Odyssey points event will officially end on November 25, 2024 (next Monday). The event was launched simultaneously with the launch of SynFutures on the Blast mainnet on March 1, 2024, and expanded to Base in July, attracting more than 6.5 million wallet addresses to participate, helping SynFutures become the number one decentralized perpetual contract trading platform in terms of transaction volume and TVL on the Blast and Base networks.

Governance Voting:

Jupiter: The first Jupuary vote will open on November 25, seeking 70% support

Jupiter said on the X platform that the first Jupuary vote will take place on November 25, and the team is seeking 70% approval. If the requirement is not met, the team will quickly conduct a new vote until the required 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 the history of the DAO.

Lista DAO launches a new proposal to introduce a pegged stability module (PSM) and a savings rate (LSR). Voting ends on November 25th

Lista DAO released a proposal for "using lisUSD savings rate to launch a pegged stability module". The current voting approval rate is 100%, and the voting will end on November 25. The proposal includes the introduction of a pegged stability module (PSM) and a lisUSD savings rate (LSR) to enhance the price stability of lisUSD and provide users with deposit income. Initially, PSM supports USDT with a total quota of 5 million lisUSD. In the future, support for FDUSD and USDC will be gradually increased, with a maximum limit of 15 million lisUSD. The initial interest rate of LSR is linked to a fixed spread of 1% below the lisUSD borrowing rate for BNB, and is dynamically adjusted according to market demand. At the same time, a 2% fee is set for lisUSD to be exchanged for USDT, while USDT to be exchanged for lisUSD is free of handling fees.

Token unlocking:

Venom (VENOM) will unlock approximately 33.76 million tokens at 4:00 pm Beijing time on November 25, accounting for 1.79% of the current circulation and worth approximately US$2.2 million.

Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8:00 am Beijing time on November 25, accounting for 2.05% of the current circulation and worth approximately US$2.3 million.

November 26

Project dynamics:

WalletConnect: WCT claiming and staking will be launched on November 26

Web3 communication protocol WalletConnect said on the X platform that WCT token claiming and staking will be launched on November 26.

Starknet: STRK staking will be launched on the mainnet on November 26

Ethereum Layer 2 network Starknet said on X Platform that the launch date of STRK staking on the mainnet is set for November 26. After extensive testing on Sepolia, it is now ready to launch the first phase of STRK staking on the Starknet mainnet. Everyone can participate in the following ways: becoming a validator requires staking at least 20,000 STRK and running a full node; becoming a delegator requires choosing 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 has launched an airdrop. Registration for the airdrop will be open at 18:00 (UTC+8) on November 26, with a total of 100 million SIDE tokens issued. The airdrop covers multiple categories, including users who spend more than 0.005 BTC on the Bitcoin network between January 1, 2023 and November 1, 2024; NFT communities include 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; testnet points users. The airdrop tokens will be released after the mainnet is launched.

Developer Activities:

BNB Chain’s latest hackathon will kick off on November 26th

BNB Chain's new hackathon event is launched today, with a prize pool of over $458,000, and is open to Web3 developers around the world. There is no preset theme for this event, and developers can explore stablecoins and DeFi, Telegram-based DApps, AI-driven DApps, and new narratives. The workshop will start on November 26, and the project submission time will be from December 15 to 24. The list of winners will be announced on January 16, 2025, and a one-month technology incubation period will be launched. The final six winning projects will receive incubation support and interview opportunities for the MVB program, and can also participate in sponsor challenges such as UXUY to win exclusive rewards.

Token unlocking:

Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 a.m. Beijing time on November 26, accounting for 0.05% of the current circulation, with a value of approximately US$18.9 million.

November 27

Token unlocking:

ApeX (APEX) will unlock approximately 9.24 million tokens at 8:00 a.m. Beijing time on November 27, accounting for 19.09% of the current circulation and worth approximately US$17.8 million.

Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 pm Beijing time on November 27, accounting for 0.45% of the current circulation, with a value of approximately US$7.8 million.

Yield Guild Games (YGG) will unlock approximately 14.08 million tokens at 10:00 pm Beijing time on November 27, accounting for 3.65% of the current circulation and worth approximately US$8.6 million.

Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 a.m. Beijing time on November 27, accounting for 0.69% of the current circulation, with a value of approximately US$3.5 million.

November 28

Project News:

Sky will complete the removal of WBTC as collateral on November 28

Decentralized financial platform Sky (formerly MakerDAO) has approved a plan to remove Wrapped Bitcoin (WBTC) from its platform as collateral. This decision has attracted widespread attention because Sky currently has about $200 million in loans collateralized by WBTC, and WBTC is one of the major cryptocurrencies with a market value of nearly $10 billion. The move is related to risk concerns raised by WBTC custodian BiTGlobal and its connection with Tron founder Justin Sun. The first phase of the removal will start on October 3 and be completed on November 28.

Token unlocking:

SingularityNET (AGIX) will unlock approximately 7.95 million tokens at 8:00 a.m. Beijing time on November 28, accounting for 2.25% of the current circulation, with a value of approximately US$5.1 million.

Artificial Superintelligence Alliance (FET) will unlock approximately 3.45 million tokens at 8:00 am Beijing time on November 28, accounting for 0.13% of the current circulation and worth approximately US$5 million.

Velo (VELO) will unlock approximately 182.8 million tokens at 8:00 am Beijing time on November 28, accounting for 2.47% of the current circulation, with a value of approximately US$3.3 million.

November 29

Developer Activities:

Applications for Telegram Growth Hub accelerator program close on November 29

OKX Ventures, The Open Platform (TOP) and Folius Ventures announced the launch of the $10 million Telegram Growth Hub, which aims to promote innovation in the TON blockchain and expand the Telegram Mini Program ecosystem. It will fund and support projects that enhance TON user engagement. Telegram Growth Hub will select up to 10 potential projects for a two-month acceleration program. Selected teams will be eligible for funding from the $10 million fund, with an application deadline of November 29, 2024. Telegram Growth Hub will focus on three key areas: 1. User introduction and education tools: projects that simplify user introduction through intuitive UI/UX and educational tools, making it easy for new users to access TON; 2. Trading capabilities and networks: plans to develop on-chain trading functions, such as DEX and NFT trading, liquidity staking, and other advanced trading functions; 3. Mini Program Ecosystem Expansion: Telegram innovative mini programs, including games and entertainment applications that expand TON use cases.

Token unlocking:

Immutable (IMX) will unlock approximately 24.52 million tokens at 8:00 am Beijing time on November 29, accounting for 1.47% of the current circulation and worth approximately US$40.5 million.

Crown by Third Time Games (CROWN) will unlock approximately 4.63 million tokens at 8:00 a.m. Beijing time on November 29, accounting for 2.11% of the current circulation and worth approximately $1.7 million.

November 30

Policy supervision:

Taiwan will implement the registration system for virtual asset service providers ahead of schedule on November 30

Taiwan will implement the virtual asset platform and trading business (VASP) registration system ahead of schedule starting November 30 this year. The chairman of Taiwan's Financial Supervisory Commission recently pointed out that currently 26 companies have obtained the Anti-Money Laundering Act Compliance Statement, and there are still 20 to 30 companies applying. The director of Taiwan's Inspection Bureau said that four companies were inspected last year and four major types of deficiencies were found. Inspections are scheduled to be carried out on six VASP practitioners in November and December this year.

Project News:

Sonic Labs: A snapshot of every wallet holding six different Sonic Shards will be taken on December 1st

Sonic Labs (formerly Fantom) announced that it will take a snapshot of each wallet holding six different Sonic Shards at 20:00 (Beijing time) on December 1. Qualified wallets will be whitelisted and can mint exclusive NFTs after the Sonic chain goes online. The NFT will give holders points for the upcoming 200 million S token airdrop. In addition, Shards obtained through secondary markets (such as PaintSwap) are also eligible, but must be held before the snapshot.

StakeStone will close EigenLayer Season 2 Stakedrop token claims on December 1

StakeStone, a full-chain liquidity asset protocol, has previously opened the EigenLayer Season 2 Stakedrop token claim, and eligible users can claim EIGEN rewards. This claim will last until December 1, 2024. The reward distribution is based on the user's ETH holdings and holding duration at the time of the August 15 snapshot. Users can visit the claim portal at any time to claim. StakeStone promises to distribute 100% of EIGEN tokens, and transparency data has also been made public, including the total amount claimed and Merkle tree distribution information.