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Week Ahead Industry Previews: First Week of June 2023

Kean
Kean
June 5, 2023 · 4 minutes 
Here’s a rundown of the most noteworthy industry events and project developments to look out for in the coming week

Coinbase Derivatives Exchange, a derivatives trading platform regulated by the U.S. Commodity Futures Trading Commission (CFTC), is set to launch institutional futures products for Bitcoin and Ethereum on June 5th. The futures contracts, known as Coinbase Bitcoin (BTI) and Coinbase Ether (ETI), will be introduced. Previously, Coinbase Derivatives Exchange had already launched nano Bitcoin (BIT) and nano Ether (ET) contracts.

Aptos Foundation has announced the Aptos Hack Holland, which will take place in Amsterdam, the Netherlands, from June 5th to 7th. The hackathon will feature five main tracks: NFT, Social and Gaming; DeFi and Payments; Infrastructure, Tools, and Public Goods; Move Innovative Products; and Artificial Intelligence (AI). The prize pool for each track is set at $30,000 for first place, $20,000 for second place, and $10,000 for third place. The rewards will be provided in both USD and APT tokens.

The Optimism mainnet upgrade is scheduled to take place on June 7th at 00:00. The mainnet will be offline for 2-4 hours during the upgrade, and transactions, deposits, and withdrawals will not be possible during this time. Node operators are required to deploy a new node for Bedrock. The purpose of this upgrade is to provide modularity, simplicity, and Ethereum compatibility to the L2 network, while positively impacting performance and security. Additionally, Synthetix has announced that during the Bedrock upgrade, all Synthetix contracts on Optimism will be inaccessible.

On June 8, 2023, Circle plans to launch native USDC on Arbitrum, which will eventually replace the current version of USDC (Bridged USDC）, that is bridged from Ethereum. Prior to the launch of native USDC on June 8, Arbitrum will rename the Ethereum bridged version of USDC to “USDC.e” on its block explorer. Additionally, Circle intends to introduce the Cross-Chain Transfer Protocol (CCTP) to Arbitrum after the launch of native USDC. This protocol will enable USDC to move in and out of Ethereum and other supported chains within minutes, eliminating withdrawal delays.

June 5th

Project Updates

  • Coinbase Derivatives Exchange is launching institutional futures products for Bitcoin and Ethereum on June 5th.
  • The issuance period for Neutron token (NTRN) ends on June 5th.
  • Binance Futures will stop supporting SOL as a margin asset under the multi-asset mode on June 5th.

Token Unlocking

  • Liquity token (LQTY) will unlock 657,350.91 tokens (approximately $820,000) on June 5th at 08:00:00, which accounts for 0.657% of the total supply.
  • Galxe token (GAL) will unlock 416,666.66 tokens (approximately $560,000) on June 5th at 20:00:00, which accounts for 0.208% of the total supply.

Upcoming Events

  • Aptos will host the Aptos Hack Holland in Amsterdam from June 5th to June 7th.
  • ChainCatcher will hold an offline event titled “Finding the Market’s Next Massive Pump” in Seoul, South Korea, on June 5th at 14:00.

NFT Minting

  • Project Name: Ordinal Bones, blockchain: BTC, total supply: 1000, minting price: 0.0025

June 6th

Project Updates

  • The proposed cryptocurrency fair value accounting rules by FASB are open for feedback until June 6th.

Upcoming Events

  • Muverse Asia Tour in Dubai, will take place on June 6th.
  • Voyager’s liquidation proceedings hearing will be held on June 6th.
  • BUIDL Asia 2023 will be hosted in Seoul, from June 6th to 7th.

Token Unlocking

  • Tornado Cash token (TORN) will unlock 175,000 tokens (approximately $680,000) on June 6th at 11:29:50, which accounts for 1.75% of the total supply.
  • dYdX token (DYDX) will unlock 6,520,128 tokens (approximately $13.76 million) on June 6th at 23:00:00, which accounts for 0.652% of the total supply.

June 7th

Project Updates

  • The Optimism mainnet upgrade will take place on June 7th at 00:00. The mainnet will be offline for 2-4 hours during the upgrade.
  • All Synthetix contracts on Optimism will be inaccessible from June 7th, 00:00 to 04:00.
  • Horizen mainnet will undergo a hard fork upgrade on June 7th.

Token Unlocking

Hashflow token (HFT) will unlock 3,230,889.22 tokens (approximately $1.49 million) on June 7th at 08:00:00, which accounts for 0.323% of the total supply.

NFT Minting

  • Japanese airline company ANA (All Nippon Airways) will release the second set of NFT collections on their aviation-themed NFT marketplace on June 7th.
  • Mercedes-Benz will launch an NFT series called Maschine and conduct a Dutch auction on June 7th.

Upcoming Events

  • Tribeca Film Festival will take place from June 7th to 18th, collaborating with OKX to sell VIP passes in the form of NFTs.

June 8th

Token Unlocking

  • Euler token (EUL) will unlock 143,356 tokens (approximately $270,000) on June 8th, which accounts for 0.527% of the total supply.

Upcoming Events

  • Starbucks will provide NFT airdrops for eligible Odyssey members in June.
  • BTC Prague, the largest Bitcoin conference in Europe, will be held from June 8th to 10th, 2023.

Project Updates

  • Circle will launch native USDC on Arbitrum on June 8th.

Regulation

  • The Kenyan government will announce the national budget on June 8th, which includes a plan to impose a 3% tax on digital asset transfers.

June 9th

Project Updates

  • Solana’s EVM-compatible solution, Neon, will launch its token sale on CoinList at 1:00 AM Beijing time on June 9th.
  • South Korean game company Wemade will launch a new DeFi service called Kurrency and Konverter on the WEMIX 3.0 mainnet on June 9th.

Regulation

  • The Japanese financial regulatory agency has requested FTX Japan to retain domestic assets before June 9th.

Token Unlocking

  • Hop Protocol token (HOP) will unlock 20,000,000 tokens (approximately $1.57 million) on June 9th at 14:30:00, which accounts for 2% of the total supply.

June 10th

Token Unlocking

  • Moonbeam token (GLMR) will unlock 3,041,666.68 tokens (approximately $870,000) on June 10th at 08:00:00, which accounts for 0.304% of the total supply.
  • 1inch token (1INCH) will unlock 21,429 tokens ($7,996) on June 10th at 16:00:00, which accounts for 0.001% of the total supply.

NFT Minting

Project name: Arbixel Genesis, blockchain: ETH, total supply: 512, minting price: 0.15

June 11th

Project Update

The public testnet campaign of the insurance protocol Degis on Arbitrum is expected to run until June 11th.