Weekly Preview | ACDE Conference may determine the scope of Cancun upgrade; Tokens of projects such as Avalanche and RON will be partially unlocked

Weekly Preview | ACDE Conference may affect Cancun upgrade; Partial token unlocks for projects like Avalanche and RON.

News Preview:

• Binance will suspend all users’ GBP deposit and withdrawal services on May 22 and stop all users’ GBP transfers
• Tim Beiko, a core Ethereum developer, hopes to finalize the scope of the Cancun upgrade in the next one or two meetings, and the next ACDE meeting will be held on May 25
• FTX seeks to recover nearly $4 billion in funds from Genesis, and the motion will be discussed at a hearing on May 25
• The BNB Chain development team’s decentralized storage infrastructure BNB Greenfield testnet will be reset and upgraded from 14:00 to 18:00 on May 25, and the new upgraded version will be named Mekong testnet
• Avalanche (AVAX) will unlock 9,541,800 tokens worth approximately $138 million, accounting for 1.325% of the total supply, at 8:00 on May 28

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May 22

Exchange:

Binance will suspend all users’ GBP deposit and withdrawal services and stop GBP transfers from May 22

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• Token issuance of Sui’s ecological project faced setbacks including token unlocking delay and team unlocking, resulting in a difficult start.

Binance will suspend all users’ GBP deposit and withdrawal services on May 22 and stop all users’ GBP transfers. Binance stated that this change will affect less than 1% of users, and the exchange is looking for alternative solutions. At the same time, the deposit and withdrawal methods of other fiat currencies and cryptocurrency transactions are not affected. In addition, Binance will start from May 22.

Project Dynamics:

Toy manufacturer Mattel will launch a related NFT series for the “Fast and Furious” movie on May 22

As the “Fast and Furious 10” movie premiered, American toy manufacturer Mattel will launch the “Hot Wheels NFT Garage” series of “Fast and Furious” IP on May 22. This series will be launched on the Flow blockchain and will feature cars from the movie as its theme. The limited edition NFTs are priced at $20 per pack.

BitFuFu’s listing through SBlockingC has been postponed to May 22, and it can no longer be postponed again

BitFuFu, a cryptocurrency mining service company supported by Bitmain, will postpone its listing through SBlockingC until May 22. The company has exercised its right to defer the merger transaction for three months twice, so it will not be able to defer the merger again in the future.

Maker will delist LINK-A, MATIC-A, YFI-A, and UNIV2USDCETH-A vault types on May 22

MakerDAO will delist LINK-A, MATIC-A, YFI-A, and UNIV2USDCETH-A vault types from the Maker protocol at 22:00 on May 22 (Beijing time). According to detailed information about the executed vote, the Maker protocol will deploy new parameters for all mentioned vault types. Once these new parameters are deployed to the Maker protocol, all positions in LINK-A, MATIC-A, YFI-A, and UNIV2USDCETH-A with a collateralization ratio below 10,000% will be liquidated.

3 games to be launched on Sui next week

Mysten Labs, the developer of Sui, announced that 11 game partners will launch games on the Sui blockchain starting from May 15. Worlds Beyond, Lucky Kat: Cosmocadia, and Aether Games: Cards of Ethernity will be launched from May 22 to May 28.

CME to expand Bitcoin and Ethereum options contract terms from May 22

CME plans to expand the contract terms of Bitcoin and Ethereum options from May 22, subject to regulatory review. With these new contracts, there will be expiring contracts on every workday from Monday to Friday.

Three Arrows Capital founder to appear in court on May 22

As part of the liquidation process, Three Arrows Capital founder Kyle Davies and Su Zhu have been ordered by the British Virgin Islands court to appear in the British Virgin Islands on May 22. Failure to comply with the order may result in contempt of court charges.

Token unlock:

SBlockingCE ID (ID) will unlock 15,152,778 tokens worth approximately $7.3 million, accounting for 0.758% of the total supply, at 8:00 on May 22

May 23

Project update:

Ethereum developers plan to release the Deneb specification on May 23 and launch a new testnet

At the 109th Ethereum core developer consensus (ACDC) meeting, developers discussed the preparation for the next Deneb specification release (Deneb is the name of the next immediate Ethereum upgrade on CL). The developers’ goal is to release it on May 23 and plan to launch a new testnet to confirm the latest changes to the Deneb specification shortly thereafter. It is reported that the next Deneb version will include four changes.

Collab.Land will close COLLAB token airdrop application on May 23

Collab.Land, a Discord extension plugin, launched token airdrop application on February 23 and will end on May 23, 2023. The airdrop share will account for 25% of the token supply. The application is only available on its official website, without wallet connection, message signature, and gas, and users should watch out for fraudulent links.

Governance Voting:

Aave Community launches a vote to add ARB to Aave V3 market on Arbitrum, deadline on May 23

Aave community is taking a temperature-check vote for the proposal of “adding ARB to Aave V3 market on Arbitrum”, and if the vote passes, it will enter the ARFC stage. The proposal voting will end on May 23.

May 24

Project Update:

Disney collaborates with NFT market Cryptoys to launch “Star Wars” encrypted toys, on sale on May 24

Toy NFT market Cryptoys announced a collaboration with Disney to sell digital toys modeled after the three most iconic characters from the “Star Wars” film series. Cryptoys said it will release “15 limited edition collectible digital toys of Luke Skywalker, Princess Leia and Darth Vader.” They will be available on May 24 for $39.99 each.

Tornado Cash founder’s related hearing will be held on May 24

Tornado Cash developer Alexey Pertsev has been released, and according to his wife, further investigative hearings in this case will be held on May 24.

Token Unlocking:

1inch (1INCH) will unlock 21,429 tokens worth approximately $8,536, accounting for 0.001% of the total supply, at 16:00 on May 24

Euler (EUL) will unlock 138,219 tokens worth approximately $260,000, accounting for 0.508% of the total supply, at 22:29:59 on May 24

May 25

Project Update:

BNB Greenfield Testnet will be reset on May 25 and upgraded to Mekong Testnet

BNB Greenfield Testnet, a decentralized storage infrastructure developed by the BNB Chain development team, will be reset and upgraded to the Mekong Testnet from 14:00 to 18:00 on May 25. The new upgraded version fixes several errors and introduces some new features, including stopping service objects, clearing outdated permissions, SP GC service, supporting listing objects via prefix and delimiter fields, and upgrading to cosmos-sdk v0.47.2.

Ethereum developers to hold ACDE meeting on May 25, may finalize scope of London upgrade

Following the ACDE call on May 11, Ethereum core developer Tim Beiko said he hopes the scope of the London upgrade can be finalized in the next one or two meetings, with the next ACDE meeting scheduled for May 25.

FTX seeks to recover nearly $4bn in funds from Genesis, motion to be discussed in May 25 hearing

FTX has filed a motion seeking to recover nearly $4bn in funds from Genesis Global Capital. The motion claims that a loan of nearly $8bn provided by Genesis to FTX-affiliated company Alameda Research was “substantially repaid” in the weeks before FTX’s bankruptcy last November. FTX is seeking to recover funds received by Genesis and non-debtor affiliated companies so that they can be used to pay back FTX’s creditors, including millions of customers. A hearing discussing the motion is reportedly scheduled for May 25.

Governance Votes:

BlockingncakeSwap community launches proposal to vote for “additional features with VIP pools” for Cake token, voting ends on May 25

Decentralized exchange platform BlockingncakeSwap is voting on a proposal to provide “additional features with VIP pools” for the Cake token, aimed at creating another use case for Cake and making it more attractive by creating exclusive products. The proposal suggests creating an sCake token that grants users special staking privileges similar to IF0, whereby users stake Cake in the pool and the amount and duration of the stake determines the amount of sCake that can be submitted to VIP pools. The voting will end on May 25.

Blur Dao launches proposal to let the community decide which NFT projects can be listed on Blend, voting ends on May 25

Clairvoyant Labs has launched a proposal on Blur Dao called “Add Governance Power: Blend Onboarding Approval,” which proposes to let the Blur community have more say in deciding which NFT projects can be listed on the lending protocol Blend. The proposal will begin voting on May 11 and end on May 25.

Token Unlockings:

Acala (ACA) will unlock 4,657,534 tokens worth around $260k, which accounts for 0.466% of the total supply, at 8:00 am on May 25

May 26

Project Updates:

South Korean court to hold first trial for Terra co-founder Daniel Shin on May 26

South Korea’s Seoul Southern District Court is set to hold the first trial for Terraform Labs co-founder Daniel Shin and seven other colleagues on May 26, who are accused of fraud related to the collapse of a $40 billion cryptocurrency project. Daniel Shin has assembled a defense team consisting of 30 lawyers, including 11 from a law firm that recently hired a former Seoul prosecutor to investigate the Terra-Luna crash.

Stacks network to transition to proof-of-transfer via upgrade on May 26

May 27

Token Unlock:

Ronin (RON) will unlock 14,571,969.03 tokens worth approximately $14.28 million, representing 1.457% of the total supply, at 8:00 am on May 27

Yield Guild Games (YGG) will unlock 16,872,453 tokens worth approximately $3.13 million, representing 1.687% of the total supply, at 21:59:00 on May 27

May 28

Token Unlock:

Avalanche (AVAX) will unlock 9,541,800 tokens worth approximately $138 million, representing 1.325% of the total supply, at 8:00 am on May 28

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