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Week Ahead Industry Previews: First Week of August 2023

Foresight News 
Here’s a rundown of the most noteworthy web3 industry events and project developments to look out for in the coming week

This week, CME Group plans to launch the ETH/BTC ratio futures, “Ether/Bitcoin Ratio” futures (EBR), on July 31. With EBR, market participants can efficiently execute relative value trades between Ethereum futures (ETH) and Bitcoin futures (BTC) contracts in a single transaction. CME Group’s Bitcoin futures have already surpassed a trading volume of $53.3 billion in July, exceeding the previous record of $53.06 billion set in April, marking a new yearly high.

On August 2, Starbucks will debut the classic “Green Apron” NFT collection on the Nifty Gateway NFT marketplace. The NFT collection will be available to eligible Odyssey members at 00:00 Beijing time on August 2, and to the public at 03:00 on the same day. The “Green Apron” is the standard uniform for Starbucks baristas, and this NFT collection aims to pay tribute to the Starbucks workforce. The Green Apron NFT collection consists of 5000 tokens, issued on Polygon, with each “Green Apron” NFT priced at $100.

This week will also witness two halving events. Helium’s second halving is scheduled for August 1, reducing HNT issuance to 1.25 million tokens per month. Litecoin’s halving is expected on August 3, 2023, when block rewards will decrease from 12.5 LTC to 6.25 LTC.

ETHGlobal will host the Superhack hackathon from August 4 to 18, with a total prize pool of $125,000. The application deadline is August 3.

July 31st

Project Updates

  • Babylon upgrade for the public network Radix, transitioning from Olympia to Babylon, is scheduled for July 31st.
  • Gitcoin Passport integrates with Galxe, allowing users to apply for AntiSybilAssembly NFT based on their scores.
  • ICON will launch the public testnet incentive program for its cross-chain aggregator xCall on July 31st.
  • SPACE ID initiates the SPACE ID Grant Program, with the first application window closing on July 31st.
  • The blockchain game project Parallel Beta version will go live on July 31st.

Important Events

  • Bybit exits the Canadian market, and existing services will be unavailable starting from July 31st.
  • Thailand’s Securities and Exchange Commission’s requirement for cryptocurrency business operators to disclose risks will come into effect on July 31st.
  • CME Group plans to launch ETH/BTC ratio futures on July 31st.

Upcoming Events

  • The application for Foresight X’s “Empowering a Trustless Future” OpenBuild Hacker House event will be extended until the end of July.
  • The Sandbox will temporarily suspend LAND cross-chain services starting from July 31st.
  • LBank Labs, in collaboration with the Seoul Metropolitan Government, will host the SWF2023 conference from July 31st to August 2nd.
  • NFT Gaming Summer, organized by DeGame, the Web3 gaming aggregation platform, will continue until 10:00 on July 31st.
  • Binance will conduct wallet maintenance for BNB Chain on July 31st at 15:00, with an estimated duration of 30 minutes.

August 1st

Upcoming Events

  • The 3WW3 Africa-Asia-Latin America Web3 Ecosystem Research Institute will host a Space event at 20:00 with the theme “Exploring Web3 Development and Large-Scale Application Opportunities in Africa.”
  • Helium will undergo its second halving on August 1st, reducing HNT issuance to 1.25 million per month.
  • The Tenity Asia-Pacific XRPL Accelerator program will commence in August 2023.
  • Argentina will raise cryptocurrency mining electricity tariffs, effective from August 1st until October 31st, 2023.
  • Binance Labs’ 6th Season Incubation Program is now open for applications, with the deadline on August 1st.

Project Updates

  • Lido will discontinue its staking service on Polkadot and Kusama on August 1st.
  • Palm Network plans to migrate to a Proof of Stake (PoS) mechanism on August 1st.
  • zkSync-based decentralized exchange CrusSwap launches V1 testnet and plans to go live in August.
  • Solana-based NFT marketplace Exchange Art will expand to Ethereum on August 1st.
  • Hedge fund Fir Tree will launch a new fund focusing on distressed crypto assets on August 1st.
  • Binance will begin offering comprehensive services on a new platform in Japan in August.
  • Gnosis Chain mainnet Shapella upgrade is scheduled for August 1st at 19:34.

Important Events

  • Russian State Duma approves the digital ruble, to be effective on August 1st, 2023, pending President Putin’s approval.
  • The UK FCA’s digital sandbox will be permanently open from August 1st after being piloted for decentralized ledgers.

Token Unlocking

  • Acala token ACA will be unlocked with 27.43 million tokens (approximately $1.81 million) on August 1st, accounting for 1.714% of the total supply.
  • 1inch token 1INCH will be unlocked with 15,000 tokens (approximately $4,700) on August 1st, representing 0.001% of the total supply.
  • dYdX token DYDX will be unlocked with 6.52 million tokens (approximately $13.56 million) on August 1st, accounting for 0.652% of the total supply.

August 2nd

NFT Minting

  • Starbucks will launch the classic “Green Apron” NFT collection on August 2nd.

Project Updates

  • Cosmos ecosystem EVM-compatible chain Evmos will release version 2.0 on August 2nd.
  • Binance states that users affected by the XIRTAM incident can submit their information before August 2nd.

Token Unlocking

  • Euler token EUL will be unlocked with 156,220 tokens (approximately $420,000) on August 2nd, representing 0.57% of the total supply.

August 3rd

Proposal Voting

  • ApeCoin proposes to launch NFT shields, and the voting will end on August 3rd.

Project Updates

  • Litecoin is expected to undergo a block reward halving from 12.5 LTC to 6.25 LTC on August 3rd.

Upcoming Events

  • CertiK will host an offline event with Cyberport in Hong Kong titled “Exploring Web3 Security” on August 3rd at 16:00.

August 4th

Project Updates

  • Coinbase is required to submit the opening defense statement in the lawsuit with the U.S. SEC by August 4, 2023, or earlier.

Upcoming Events

  • ETHGlobal will host the Superhack hackathon from August 4th to August 18th.

August 5th

Token Unlocking

  • Tornado Cash token TORN will be unlocked with 22,840 tokens (approximately $80,000) on August 5th, representing 0.228% of the total supply.
  • Galxe token GAL will be unlocked with 7.61 million tokens (approximately $9.82 million) on August 5th, representing 3.805% of the total supply.
  • Liquify token LQTY will be unlocked with 657,350 tokens (approximately $740,000) on August 5th, representing 0.657% of the total supply.

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