Important news:
- Sky Protocol will increase the savings rate DSR, SSR and stability fees of various vault types on December 9;
- Microsoft’s annual shareholder meeting on December 10 will consider a proposal to “evaluate investment in Bitcoin”;
- Movement, Magic Eden, U2U Network, KIP Protocol, Suilend and other projects will conduct token generation events (TGE);
- The city of Vancouver is considering incorporating Bitcoin into the city’s financial system, and its city council will consider a related motion proposed by Mayor Ken Sim on December 11;
- Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 a.m. Beijing time on December 11, accounting for 0.05% of the current circulation, with a value of approximately US$22 million;
- Aptos (APT) will unlock approximately 11.31 million tokens at 0:00 on December 12, Beijing time, accounting for 2.11% of the current circulation and worth approximately US$160 million.
- The new Bitcoin fair value accounting rules of the Financial Accounting Standards Board (FASB) require that companies will officially adopt Bitcoin fair value accounting in fiscal years starting after December 15.
December 9
Exchange:
OKX will launch MOVE (Movement) spot on December 9
OKX will soon launch MOVE (Movement). The specific schedule is as follows:
• Deposit opening time: December 4th 2:00 pm (UTC+8)
• Call auction time: 7:00 pm to 8:00 pm on December 9 (UTC+8)
• Spot trading opening time: December 9, 8:00 pm (UTC+8)
• Withdrawal opening time: December 10th 6:00 pm (UTC+8)
It is reported that Movement Network is a community-first blockchain that provides excellent TPS performance through the Move language, instant finalization, instant native access to massive liquidity and modular customization.
Binance Finance launched the on-chain coin earning service, which allows users to participate in various on-chain protocols and earn income through their Binance accounts. The first product of the on-chain coin earning service is Babylon Bitcoin staking, which allows users to stake Bitcoin in the Babylon protocol and earn on-chain income.
Subscription will be open at 14:00 (ET8) on December 9, 2024, with a limit of 1,000 bitcoins, on a first-come, first-served basis. The minimum subscription amount per account is 0.05 BTC, and the maximum subscription amount is 5 BTC. Please note that the on-chain earning page will be online at 12:00 (ET8) on December 9, 2024
Project News:
Sky Protocol (formerly MakerDAO) stated on the X platform that the following parameter changes will be executed at 5:24 (UTC+8) on December 9 after the latest executive vote was approved.
Savings Rate Update:
- The Sky Savings Rate (SSR) will increase to 12.5%, and the Dai Savings Rate (DSR) will increase to 11.5%.
Stability fee parameter update:
- ETH stability fees will increase: ETH-A to 12.75%, ETH-B to 13.25%, and ETH-C to 12.5%.
- The WSTETH stability fee will increase: WSTETH-A will increase to 13.75%, and WSTETH-B will increase to 13.5%.
- The WBTC stability fee will increase: WBTC-A will increase to 16.25%, WBTC-B will increase to 16.75%, and WBTC-C will increase to 16%.
Anzen Finance: ANZ tokens will be available for claiming on Fjord Foundry on December 9
Anzen Finance officially announced on the X platform that the sale of ANZ tokens with a FDV of $60 million and a market value of $5.8 million on Fjord Foundry has been completed. Since all tokens have been sold out, ANZ tokens will be available for collection on Fjord Foundry at 8:07 am EST on December 9. In addition, airdrops will be issued to users holding z-points. It is reported that the Anzen team and investors have a 6-month cliff period. Over time, the vast majority of ANZ tokens will enter circulation as ecosystem rewards.
Token unlocking:
World Mobile Token (WMTX) will unlock approximately 5 million tokens at 8:00 am Beijing time on December 9, worth approximately US$2.7 million
Community Activities:
Abu Dhabi Bitcoin MENA Summit will be held on December 9-10, Trump's second son will give a speech
Trump's second son, Eric Trump, will speak at the Bitcoin MENA Summit in Abu Dhabi on December 9-10.
December 10
Exchange:
Binance will delist GFT, IRIS, KEY, OAX, and REN on December 10
Binance has decided to stop trading and delist the following currencies at 11:00 (ET) on December 10, 2024: Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), Ren (REN). Binance emphasized that Binance will regularly review the digital assets listed to ensure high-level currency quality. When a token no longer meets the listing standards or there are major changes in the industry environment, an in-depth project review will be conducted and it may be delisted.
Binance will enable the self-trading prevention (STP) feature for all Binance Futures users starting at 14:00 (ET) on December 10, 2024. With this update, STP will cover spot, margin, and futures trading on the Binance platform.
Project dynamics:
Microsoft's December 10 shareholder meeting will consider Bitcoin investment proposal
Microsoft will include a proposal to "evaluate investment in Bitcoin" as a voting item at its annual shareholder meeting on December 10. The proposal was put forward by the conservative think tank The National Center for Public Policy Research, but the board of directors recommended that shareholders vote against the proposal, deeming it "unnecessary" and stating that the company's management had "carefully considered" the relevant issues. In a filing with the U.S. Securities and Exchange Commission, Microsoft stated that its global financial team regularly evaluates a variety of investment assets, including cryptocurrencies, for diversification and risk management. Although Bitcoin has been considered in the past, the board of directors has not made further investment decisions at this time due to factors such as volatility. If the proposal is passed, Microsoft will become the largest publicly listed crypto investment company, surpassing MicroStrategy and Tesla.
U2U Network’s U2U token will be listed on Kucoin, MEXC and other exchanges on December 10
The U2U token of the modular L1 network U2U Network will be listed on multiple exchanges, including Kucoin, MEXC, Gate.io and BingX.
- Kucoin will open U2U token deposits on the Ethereum ERC20 network at 18:00 Beijing time on December 9, and U2U/USDT trading will begin at 18:00 Beijing time on December 10.
- MEXC will launch the U2U/USDT trading pair in the Innovation Zone at 18:00 on December 10, Beijing time.
- Gate.io announced the launch of the Startup project U2U Network (U2U) and only supports GT to participate in the subscription. The subscription will start from 14:00 on December 8, 2024 to 14:00 on December 10, 2024 (Beijing time); the U2U/USDT trading pair will start at 18:00 on December 10, 2024.
- BingX will open U2U token deposits at 18:00 Beijing time on December 9, and trading will begin at 18:00 Beijing time on December 10.
KIP Protocol announced that on December 10, TGE will be held, and node holders will be eligible for KIP airdrops
KIP Protocol, the decentralized AI underlying protocol, announced that it will conduct a KIP token TGE on December 10. KIP is a Web3 infrastructure built for AI App developers, model makers, and data owners, allowing easy deployment and monetization of AI assets while fully retaining ownership. So far, KIP has implemented real use cases of DeAI in multiple fields such as education, entertainment (AI Agent), biotechnology, and government, with a cumulative financing amount of more than 10 million US dollars.
ME Foundation: ME tokens will conduct TGE at 22:00 on December 10
The ME Foundation announced that it will hold the ME Token Generation Event (TGE) at 22:00 (Beijing time) on December 10. According to the information in the Magic Eden official Discord channel, users must complete the setting of the wallet address (save and exit) before December 8, otherwise they will not be able to receive the token airdrop on December 10.
Token unlocking:
Bitget Token (BGB) will unlock approximately 5.38 million tokens at 8:00 am Beijing time on December 10, accounting for 0.38% of the current circulation and worth approximately US$14.4 million.
Staika (STIK) will unlock about 1.5 million tokens at 8:00 am Beijing time on December 10, worth about $2.2 million
December 11
Policy supervision:
As Bitcoin breaks through $100,000 to set a record high, the city of Vancouver is considering incorporating Bitcoin into the city's financial system. Vancouver City Council will consider a motion proposed by Mayor Ken Sim on December 11, titled "Protecting the city's purchasing power through financial reserve diversification-building a Bitcoin-friendly city."
The U.S. Senate Banking Committee plans to vote on December 11 to decide whether to re-nominate SEC Commissioner and cryptocurrency skeptic Caroline Crenshaw. Several crypto industry executives expressed disappointment about the possibility of her re-election because Caroline Crenshaw is one of the two SEC commissioners who opposed the approval of the spot Bitcoin ETF. According to Bloomberg ETF analyst James Seyffart, Caroline Crenshaw is not only an "ally" of the current SEC Chairman Gary Gensler, but also more "strongly opposed to cryptocurrency" than Gary Gensler himself.
Exchange:
Binance will remove leveraged trading pairs such as BAND/BTC and AVA/BTC on December 11
Binance announced that it will remove the following leveraged trading pairs at 14:00 (ET) on December 11, 2024:
• Full leverage: BAND/BTC, GTC/BTC
•Isolated leverage: AVA/BTC, BAND/BTC, GTC/BTC, HIGH/BTC, PERP/BTC, STPT/BTC
Project News:
OP Governance Season 6 will end on December 11
The sixth season of OP Governance, launched by Optimism on June 27, will last until December 11. The theme of this season is "Optimization Supports Superchain". The governance season aims to advance the decentralization process, attract more public chains to join Superchain, and promote the growth of application developers on Superchain. Through this series of measures, Optimism is committed to strengthening the scalability and diversity of its blockchain ecosystem.
Token unlocking:
Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 am Beijing time on December 11, accounting for 0.05% of the current circulation and worth approximately US$22 million.
Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 pm Beijing time on December 11, accounting for 0.44% of the current circulation, with a value of approximately US$12.9 million.
io.net (IO) will unlock approximately 2.11 million tokens at 8:00 pm Beijing time on December 11, accounting for 1.68% of the current circulation and worth approximately US$7.5 million.
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 a.m. Beijing time on December 11, accounting for 0.61% of the current circulation, with a value of approximately US$5.9 million.
Moonbeam (GLMR) will unlock approximately 3.04 million tokens at 8:00 am Beijing time on December 11, accounting for 0.33% of the current circulation, with a value of approximately US$1.1 million.
December 12
Exchange:
Members of the Korea Digital Asset Exchange Association (DAXA) will terminate trading support for Radiant Capital (RDNT). Since the project foundation did not submit explanatory materials on the reasons for the designation of trading alert stocks, and after reviewing the losses caused by the security incident and the public position of the foundation, it was determined that it did not meet the standards for maintaining trading support, so it decided to stop trading support. Bithumb will end trading support for RNDT at 15:00 local time on December 12, 2024. It is reported that the Korea Digital Asset Exchange Association (DAXA) is composed of the five major crypto exchanges in South Korea, namely Upbit, Bithumb, Coinone, Korbit and Gopax.
Project dynamics:
The first aelf halving will take place on December 12, with the block reward dropping to 0.0625 ELF
AI-enhanced Layer 1 public chain aelf announced that it will conduct its first halving at 15:30 Beijing time on December 12, which is expected to occur at the main chain block height of 246,500,000. Since the mainnet was launched in 2020, aelf has been running stably for four years. aelf COO Brian Liang said that this halving is not just a reduction in block rewards, but also represents the continued evolution of aelf as a sustainable and innovative blockchain ecosystem. According to the aelf white paper, the network allocates 12% of ELF tokens for block rewards, which is halved every four years. After the halving, the block reward will drop from 0.125 ELF to 0.0625 ELF.
Eigen Labs plans to launch an upgraded version of Rewards v2, which aims to bring greater flexibility, efficiency, and customization to rewards in the EigenLayer ecosystem. The testnet launch will be deployed on the Holesky testnet on December 12, and will be deployed on the mainnet in January next year. The proposed upgrade is also the first EigenLayer Improvement Proposal (ELIP) recently announced by the Eigen Foundation to use the EigenLayer Governance Process (EigenGov). The Rewards v2 upgrade proposes to expand the platform's rewards capabilities and introduce several features: Operator-oriented rewards: AVS can reward operators based on performance or custom logic. Variable operator fees: Operators can set their own rates based on AVS, providing economic flexibility and attracting diverse participation. Batch reward claiming: Stakers and Operators can claim multiple rewards in a single transaction, thereby reducing gas costs.
Suilend announces that its SEND token will be officially launched on December 12
Sui Ecological Lending Protocol Suilend announced that its token SEND will be officially launched on December 12, and the distribution checker is now online. According to the official disclosure, the SEND token distribution is as follows:
•Early users: Users before the launch of Suilend Points in May 2024 will receive 2% SEND.
•Suilend points: 18% of total SEND.
•Rootlets: Three airdrops, totaling 3.333%, 1.111% each time, the first airdrop will be available upon release.
•Capsule NFT: 0.3%, distributed according to rarity (0.1% each for common, uncommon, and rare).
•Bluefin League holders: receive 0.05% of SEND.
•SEND-PERP traders on Bluefin: Earn 0.125% of SEND.
•Eco-NFT and MEMECOINS: fixed allocation by address.
Users can check the airdrop eligibility and prepare to claim it through the official website.
Token unlocking:
Aptos (APT) will unlock approximately 11.31 million tokens at 0:00 on December 12, Beijing time, accounting for 2.11% of the current circulation and worth approximately US$160 million.
Fusionist (ACE) will unlock approximately 850,000 tokens at 8:00 am Beijing time on December 12, accounting for 2.01% of the current circulation, with a value of approximately US$2.9 million.
Aurora (AURORA) will unlock approximately 5.33 million tokens at 8:00 am Beijing time on December 12, accounting for 0.96% of the current circulation and worth approximately US$1.5 million.
December 13
Policy supervision:
The National Intellectual Property Administration has issued the "Guidelines for Patent Applications for Artificial Intelligence-Related Inventions (Draft for Comments)" and is soliciting public opinions. The guidelines are intended to help patent applicants better understand the patent examination policy in the field of artificial intelligence, improve the quality of applications, and respond to hot legal issues of concern to innovation entities. The deadline for soliciting opinions is December 13, 2024, and the public can submit opinions by email, fax or mail.
Exchange:
Binance to Support Horizen (ZEN) Network Upgrade on December 13
Binance plans to suspend Horizen (ZEN) token deposits and withdrawals at 01:00 ET on December 13, 2024, to support its network upgrade. This move is intended to provide users with a quality experience. The project will upgrade the network at block height 1,679,880 (estimated to be 02:00 ET on December 13, 2024).
December 14
None
December 15
Policy supervision:
According to the new Bitcoin fair value accounting rules of the Financial Accounting Standards Board (FASB), companies will officially adopt Bitcoin fair value accounting in fiscal years starting after December 15. This rule change means that companies such as MicroStrategy, Tesla and Block will be able to record the highs and lows of the value of their cryptocurrency holdings. Under the new regulations, companies holding cryptocurrencies such as Bitcoin or Ethereum will need to record these tokens at fair value, that is, the latest market value. Changes in fair value will be directly included in net income.
Under the new rules, companies must record their crypto assets as a separate line item in their balance sheets. They must also disclose significant cryptocurrency holdings and any restrictions on those holdings in a footnote for each reporting period. Every year, they must reconcile or disclose changes in the opening and closing balances of crypto assets by category.
Exchange:
Binance supports airdropping MONKY to FLOKI holders, with snapshot to be taken on December 15
Binance announced that it will support the airdrop of Wise Monkey (MONKY) for FLOKI (FLOKI) holders. The snapshot time is 08:00 on December 15, 2024 (Eastern Time 8). The airdrop ratio is 0.35 MONKY for every 1 FLOKI. The rewards will be distributed proportionally based on the amount of coins held at the time of the snapshot.
Developer Activities:
BNB Chain’s new hackathon event will open for project submission on December 15
BNB Chain's new hackathon event has been launched, 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 period 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.
