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Week Ahead Industry Previews: Fourth Week of August 2023

Foresight News
Foresight News
August 21, 2023 · 3 minutes 
Here’s a rundown of the most noteworthy web3 industry events and project developments to look out for in the coming week

Following the recent launch of the Base mainnet, the ecosystem acceleration program “100 Builders” will be initiated from August 21st to September 15th. This collaborative effort between Base and the Web3 project Backdrop aims to support 100 developers in creating open-source projects on the Base platform. The application window for this program closed on August 10th, with developers having the potential to earn bonuses exceeding $40,000.

Noteworthy events in the global blockchain sphere this week include COINFEST Bali Blockchain Week taking place from August 24th to August 25th, SBW Stanford Blockchain Week scheduled for August 26th to August 31st, and the Palau Blockchain Summit occurring between August 27th and August 29th.

Also of significance this week is the substantial unlocking of Avalanche’s AVAX token. On August 26th, a total of 9.54 million AVAX tokens will become accessible, amounting to a value exceeding $100 million. This represents approximately 2.77% of the circulating supply.

August 21st

Upcoming Events:

  • The registration deadline for the Avalanche Hackathon (Hong Kong) is August 21st.

Project Updates:

  • The official committee of unsecured creditors for Celsius will hold a network webinar to disclose the Celsius bankruptcy reorganization plan on August 21st.
  • PayPal’s stablecoin, PYUSD, will commence trading on Kraken starting from August 21st.
  • Smart contract wallet Argent is planning an upgrade on August 21st. Some older Starknet accounts will need to be upgraded promptly.
  • The Base ecosystem acceleration program “100 Builders” will launch from August 21st to September 15th.
  • Binance Futures will list the CYBERUSDT perpetual contract on August 21st at 20:00 (UTC).

Token Unlocking:

  • Injective’s token INJ will be unlocked on August 21st at 8:00 (UTC), releasing 2.86 million tokens (approximately $22.05 million), accounting for 3.41% of the circulating supply.

August 22nd

Project Updates:

  • The bankruptcy administration-related hearing for Prime Trust will take place on August 22nd.
  • Sentiment will close Sentiment V1 on August 22nd and is currently developing V2.
  • Ethereum re-staking protocol EigenLayer will increase the upper limit of liquidity staked tokens on August 22nd and will launch the Operator testnet.

Token Unlocking:

  • SPACE ID token ID will be unlocked on August 22nd at 8:00 (UTC), releasing 18.49 million tokens (approximately $3.73 million), accounting for 6.46% of the circulating supply.

Important Event:

  • The Sichuan Province is soliciting public opinions on the development action plan for the metaverse industry until August 22nd.

August 23rd

Project Updates:

  • FTX plans to exclude FTX Dubai from the U.S. clearing process. A hearing is scheduled for August 23rd.

August 24th

Upcoming Events:

  • COINFEST Bali Blockchain Week will take place from August 24th to August 25th.

Token Unlocking:

  • The 1inch token, 1INCH, will be unlocked on August 24th at 8:00 (UTC), releasing 274,290 tokens (approximately $68,600), accounting for 0.03% of the circulating supply.

Project Updates:

  • The second round of Prop House funding for Base will be launched, with a deadline of August 24th.
  • Projects can apply for the 15th round of Optimism Grant by August 24th.

August 25th

Token Unlocking:

  • Acala’s token ACA will be unlocked on August 25th at 8:00 (UTC), releasing 4.66 million tokens (approximately $224,000), accounting for 0.58% of the circulating supply.

Project Updates:

  • Starting from August 25th, Binance Spot will increase the request weight per IP address to 6,000 requests per minute.

August 26th

Token Unlocking:

  • Lido’s token LDO will be unlocked on August 26th at 01:51 (UTC), releasing 8.5 million tokens (approximately $14.2 million), accounting for 0.97% of the circulating supply.
  • On August 26th, 9.54 million AVAX tokens will be unlocked, with a value exceeding $100 million.

Upcoming Events:

  • SBW Stanford Blockchain Week will be held from August 26th to 31st.
  • The 706 Creators community is organizing an online event themed “Solana Study Camp.”
  • Bored Ape Yacht Club will celebrate its two-year anniversary, MAYC, on August 26th in Miami, Florida.

August 27th

Upcoming Events:

  • The inaugural Palau Blockchain Summit will take place from August 27th to 29th in the capital of the Pacific island nation, Palau.

Token Unlocking:

  • YGG will be unlocked on August 27th at 22:00 (UTC), releasing 12.22 million tokens (approximately $2.87 million), accounting for 6.6% of the circulating supply.