Weekly Preview | Binance to List Vana (VANA) and Usual (USUAL); Sonic Labs to Launch Mainnet

Important news:

• Binance will list Vana (VANA) and Usual (USUAL) on December 16 and 18, respectively.
• Ethena may launch a new stablecoin product USDtb on December 16;
• Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9:00 pm Beijing time on December 16, accounting for 2.26% of the current circulation and worth approximately US$91.4 million;
• ApeCoin (APE) will unlock about 15.6 million tokens at 8:30 pm Beijing time on December 17, accounting for 2.16% of the current circulation and worth about US$24 million;
• The Hong Kong Stablecoin Bill was gazetted and is scheduled to be submitted to the Legislative Council for first reading on December 18;
• The Sophon mainnet will be launched on December 18, launching SOPH tokens and multiple applications;
• Sonic Labs announced that the mainnet will be officially launched next week;

December 16

Project dynamics:

Ethena may launch new stablecoin product USDtb on December 16

Stablecoin issuer Ethena released a new video showing the USDtb display page and mentioned "December 16, 2024", which may imply that its stablecoin product USDtb will be officially launched on December 16. Earlier in November, it was reported that Ethena and Securitize were participating in Spark's $1 billion tokenization competition for the upcoming stablecoin USDtb. USDtb's initial reserves will be supported by more than 90% of BlackRock's BUIDL fund, which is tokenized by Securitize.

Over Protocol will open airdrops on December 16th

The lightweight node protocol Over Protocol announced a series of key time updates: Nethers NFT cross-chain bridging will be opened at 8:00 on December 16, and airdrop collection will be started at 9:00. Officials said that the OverFlex function will be launched before December 16, and Nethers NFT cross-chain and airdrop collection will last for 3 months.

Stacks announces sBTC deployment plan, deposit function is expected to be opened on December 16

Stacks, a Bitcoin scaling solution, announced that it will deploy sBTC in two phases. The first phase will support Bitcoin deposits on December 16, 2024. The second phase is expected to be launched 6-8 weeks after the first phase, when Bitcoin withdrawals will be available. The plan is implemented by Bitcoin L2 Labs. Stacks, a Bitcoin scaling solution, recently hinted again that Bitcoin deposits will be available next week. Stacks said on the X platform: "Next week, Stacks' sBTC will unlock Bitcoin's trillion-dollar market potential. Users can receive BTC rewards through the sBTC rewards program. An initial deposit limit of 1,000 BTC will be set for controlled testing, and the limit will be gradually increased over time."

Decentralized derivatives protocol Symmio plans to launch token TGE on December 16

Decentralized derivatives protocol Symmio revealed plans to launch a token TGE on December 16 to launch tokens on the Base blockchain, and initial liquidity will be provided through the SYMM/ETH trading pair on Aerodrome Finance. Symmio is an intent-centric derivatives clearing layer that aims to solve DeFi's liquidity and fragmentation problems. It currently supports four networks: Arbitrum, Base, BSC, and Mantle. The project announced that it has completed $3.1 million in financing, of which Spartan Group, Orbs, MCLB, and Blockchain Founders Fund invested approximately $2.1 million in it. MS2 Capital, GMoney, and Prime Ventures are early investors in the company.

0xAA, founder of WTF Academy: Starting from December 16th, 1% of SCIHUB will be donated on the 16th of each month for 9 consecutive months

0xAA, founder of WTF Academy, posted on the X platform that the token community and Alexandra Elbakyan (founder of Sci-Hub) have reached a consensus on the 20% SCIHUB donation plan: the first donation has been completed: 1% of the total circulation SCIHUB (10 million) has been donated; the second donation is about to be carried out: 10% of SCIHUB (100 million) will be transferred tonight; follow-up plan: starting from December 16, 2024, 1% of SCIHUB will be donated on the 16th of each month (commemorating the birth of SCIHUB) for 9 consecutive months (a total of 90 million). A total of 200 million SCIHUB, accounting for 20% of the total circulation. In addition, Alexandra Elbakyan promised: - A maximum of 1% of SCIHUB (10 million) will be sold each month, unless the token price drops sharply, resulting in a value of 10 million below $20,000, then it can be flexibly sold to ensure that $20,000 is raised.

Token unlocking:

Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9:00 pm Beijing time on December 16, accounting for 2.26% of the current circulation and worth approximately US$91.4 million;

Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 a.m. Beijing time on December 16, accounting for 0.05% of the current circulation, with a value of approximately US$20.1 million;

December 17

Project News:

Nifty Island to conduct TGE on December 17

Ethereum blockchain game Nifty Island announced that its token $ISLAND will launch a token generation event (TGE) on December 17.

Magic Summit will be held on December 17

Token unlocking:

ApeCoin (APE) will unlock about 15.6 million tokens at 8:30 pm Beijing time on December 17, accounting for 2.16% of the current circulation and worth about US$24 million;

Echelon Prime (PRIME) will unlock approximately 750,000 tokens at 8:00 am Beijing time on December 17, accounting for 1.46% of the current circulation and worth approximately US$10.5 million.

OmniFlix Network (FLIX) will unlock approximately 15.31 million tokens at 8:00 am Beijing time on December 17, accounting for 3.76% of the current circulation and worth approximately US$1.9 million.

December 18

Policy supervision:

Hong Kong's Stablecoin Bill is gazetted and is expected to be submitted to the Legislative Council for first reading on December 18

According to a news release from the Hong Kong Special Administrative Region Government, Hong Kong published the Stablecoin Bill in the Gazette today to introduce a regulatory system for issuers of fiat stablecoins in Hong Kong. The Bill aims to improve the regulatory framework for virtual asset activities to address the potential risks posed by fiat stablecoins to financial stability, ensure that users have adequate protection, and maximize the benefits of virtual assets and related technologies. Under the proposed licensing system, anyone who conducts any of the following activities must first obtain a license from the Monetary Authority:

(i) issuing legal tender stablecoins in Hong Kong in the course of its business;

(ii) in the course of its business, issuing a fiat currency stablecoin purportedly pegged to the value of the Hong Kong dollar; or

(iii) actively promote the issuance of its fiat stablecoin to the Hong Kong public.

In order to effectively implement the system, the Bill also proposes to give the Monetary Authority the necessary supervisory, investigative and law enforcement powers. The Bill will be submitted to the Legislative Council for first reading on December 18.

Project News:

Ubisoft's Web3 shooting game "Captain Laserhawk: The GAME" will be launched on December 18

The Arbitrum Foundation and Ubisoft announced that a Web3 shooter, Captain Laserhawk: The GAME, will debut on December 18. In preparation for the game's release, the two teams partnered with Magic Eden to launch the game's Niji Warrior series of NFTs, which went live today in the form of free minting. This dynamic NFT grants exclusive game privileges, including early access rights, and gives players the ability to influence game development. "Captain Laserhawk: The GAME" is a competitive multiplayer shooter set in the dystopian world of Eden, inspired by the "Captain Laserhawk: A Blood Dragon Remix" series broadcast on Netflix.

Sophon mainnet will be launched on December 18, launching SOPH tokens and multiple applications

Sophon officially announced that the mainnet will be officially launched on December 18, focusing on the on-chain entertainment ecosystem, including ticketing, mobile games, AI agent platforms, prediction markets, cross-chain bridges, decentralized exchanges, and Memecoin Launchpad. SOPH tokens will be released in two phases: the first phase is Genesis, which provides a gas-free experience to test network stability, but the tokens are not transferable for the time being. Node rewards will begin to accumulate from January 1, 2024. In addition, Sophon will open KYC verification from December 4, launch the Guardian application on December 18, and start the member claim and delegation process, aiming to build the future of on-chain entertainment through real users and practical scenarios, and plans to introduce listed companies and mature game projects to accelerate user on-chain.

Token unlocking:

QuantixAI (QAI) will unlock approximately 232,000 tokens at 8:00 am Beijing time on December 18, accounting for 5.16% of the current circulation, with a value of approximately US$22 million;

Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 p.m. Beijing time on December 18, accounting for 0.44% of the current circulation, with a value of approximately US$14.7 million;

Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 am Beijing time on December 18, accounting for 0.61% of the current circulation and worth approximately US$6.2 million.

Fusionist (ACE) will unlock approximately 1.8 million tokens at 8:00 am Beijing time on December 18, accounting for 4.26% of the current circulation, with a value of approximately US$4.9 million.

Catizen (CATI) will unlock approximately 9.9 million tokens at 8:00 am Beijing time on December 18, accounting for 4.81% of the current circulation, with a value of approximately US$4.9 million.

December 19

Project News:

LayerZero plans to vote on December 19 to decide whether to activate the fee switch mechanism

LayerZero plans to hold a referendum on December 19 to decide whether to activate the fee switch mechanism.

Token unlocking:

Pixels (PIXEL) will unlock approximately 54.38 million tokens at 6:00 pm Beijing time on December 19, accounting for 7.05% of the current circulation and worth approximately US$12.1 million.

Hatom (HTM) will unlock approximately 1.07 million tokens at 8:00 am Beijing time on December 19, accounting for 2.39% of the current circulation and worth approximately $1.3 million.

December 20

Project News:

ODOS launches DAO and tokenized loyalty program, rewards claiming starts on December 20

DEX aggregator ODOS announced the official launch of Odos DAO and launched its tokenized loyalty program, which is scheduled to go live at 12:00 on December 20, Beijing time. It marks its shift towards decentralized governance and user-centric growth. To reward early users, 494,278 eligible addresses will receive retroactive ODOS rewards based on historical usage. Eligibility queries will begin on December 12, 2024, and claims will begin on December 20, 2024.

HashKey Chain will launch its first hackathon event on December 20th - "Taichu"

HashKey Chain announced that it will host its first hackathon event, "Taichu", in Hong Kong on December 20, to discuss Web3 applications and infrastructure in a compliant environment with developers, creators and enthusiasts, and build an ecosystem with developers.

Cash App will stop fee-free peer-to-peer Bitcoin transfers starting December 20

Cash App, owned by Block, announced that it will end support for peer-to-peer transfers of Bitcoin through $cashtags starting December 20, 2024, but users can still transfer money through the Lightning Network or the Bitcoin blockchain. A Cash App spokesperson said the move was to focus resources on products and services that Bitcoin users value most. It is reported that the decision was made months after the US federal investigation agency questioned Block's compliance, but officials denied any connection between the two. Cash App was launched in 2013 and currently has 56 million active accounts, providing services such as Bitcoin trading, stock purchases and payments.

Token unlocking:

Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8:00 am Beijing time on December 20, accounting for 1.97% of the current circulation and worth approximately US$2.3 million.

December 21

None

December 22

None

Specific time to be determined

Metis restarts the decentralized sorter program, and the related reward plan will start next week

Ethereum Layer2 network Metis announced the launch of the Decentralized Sequencer (DSEQ) restart plan to promote network growth and innovation through improved reward mechanisms and ecological collaboration. The plan includes node rewards (up to 5,000 METIS per month), node and LST protocol rewards (up to an additional 10,000 METIS per month), and special rewards to encourage outstanding contributions and ecological collaboration. Metis will also provide technical support and marketing subsidies to help projects expand their influence and increase trading activity, while inviting community users to create value through interaction. The reward plan will be launched next week, and specific application details will be announced later.

Satoshi Act Fund to announce another version of “Strategic Bitcoin Reserve” bill next week

Dennis Porter, co-founder and CEO of Satoshi Action Fund (SAF), posted on the X platform that it will announce the launch of another version of the "Strategic Bitcoin Reserve" bill next week. It is reported that the "Bitcoin Rights" bill previously passed by the Pennsylvania House of Representatives was drafted by the external Bitcoin advocacy organization Satoshi Action Fund, which is the latest move to help legislators understand the nuances of blockchain technology and Bitcoin. SAF has successfully helped 20 other states draft and pass similar legislation, including four bills in Oklahoma, Louisiana, Montana and Arkansas that have become law.

Sonic Labs announces that the mainnet will be officially launched next week

Layer 1 blockchain project Sonic Labs (formerly Fantom) announced that its mainnet will be launched next week (open to public users).

ZachXBT: A vulnerability research worth over $25 million will be released next week

ZachXBT, the chain detective, said on the X platform: "Next week, a vulnerability research worth more than $25 million will be released. We plan to release it before the end of the year so that the exploiters can't enjoy the holiday."