Week Ahead Industry Previews: Second Week of July 2023

Starknet has launched Starknet alpha v0.12 on the Georli testnet. According to the deployment timeline provided by Starknet governance facilitators, Starknet v0.12.0 will be deployed on the mainnet on July 12th. The new version includes improvements to the sequencer, utilizing the Rust blockifier and LambdaClass’s Cairo VM to expedite transaction processing. It supports Cairo compiler v2.0.0 and changes the PENDING status to ACCEPTED_ON_L2, meaning transactions in this state will be included in blocks. Additionally, it introduces experimental system calls.

Starting from July 15th, KuCoin will enforce mandatory KYC (Know Your Customer) procedures. Users who have not completed KYC will be restricted from accessing KuCoin’s services and products, with limited functionalities like sell, close positions, and withdrawals. KuCoin CEO Johnny Lyu stated that this measure aims to better comply with applicable regulatory requirements.

The Securities and Exchange Commission (SEC) of Thailand issued regulations on digital asset wallet management in January this year. It requires digital asset business operators providing custody services for customer assets to establish digital wallet management systems. The regulations came into effect on January 16, 2023. Under the transitional provisions, digital asset operators who have already been providing custodial services must achieve full compliance within 6 months from the effective date (July 16th). The regulations cover the following requirements:

1. Supervision of risks associated with digital wallets and keys, including risk management policies and guidelines.

2. Design, development, and management of digital wallets, as well as policies and procedures for the secure creation, maintenance, and access to keys or other relevant information.

3. Emergency plans in the event of any incidents that may affect the digital wallet and key management system.

July 10th

Project Updates:

  • EigenLayer, an Ethereum re-staking protocol, is expected to increase the LST (Liquid Staked Ether) cap during the week of July 10th.
  • Binance NFT Marketplace launches the Playbux Ultra NFT series through a subscription mechanism, with the initial sale opening on July 10th.
  • Binance will perform a system upgrade for Binance Liquid Swap from 10:00 to 11:00.

Proposal Voting:

  • Aura Finance, the yield governance platform for the Balancer ecosystem, initiates a governance vote to deploy to Optimism. The voting deadline is 2:00 on July 10th.

Upcoming Events:

  • BlockDown Festival 2023 will be held in Algarve, Portugal from July 10th to 12th.

NFT Minting:

  • Web3Go will open DIN Passport NFT Minting on July 10th.

Token Unlocking:

  • Moonbeam token GLMR will unlock approximately 3.04 million tokens (about $745,000) at 08:00 on July 10th, accounting for 0.45% of the total supply.

July 11th

NFT Minting:

  • Credit Suisse and the Swiss Football Association launch a women’s football NFT series, with sales starting from July 11th.

Project Updates:

  • Hedera announces that all contracts on the mainnet will follow a new security model after July 11th.
  • TRON Developer Community releases GreatVoyage-v4.7.2 version, and nodes are required to complete the mainnet upgrade before July 11th.

Upcoming Events:

  • The South Korean National Assembly will hold a hearing on virtual assets on July 11th.

July 12th

Project Updates:

  • Polygon is expected to release Bor v0.4.0 mainnet around 3:35 on July 12th.
  • HIVE Blockchain’s strategic rebranding plan is set to take effect around July 12th.
  • Starknet alpha v0.12 will go live on the mainnet on July 12th.
  • Social investment platform eToro will restrict new positions in cryptocurrencies like ALGO and MATIC for US users starting from July 12th.
  • Binance will support the Rootstock Infrastructure Framework (RIF) network upgrade and hard fork.

Token Unlocking:

  • Aptos token APT will unlock 4.54 million tokens (approximately $32.44 million) at 08:00 on July 12th, accounting for 2.16% of the total supply.

Upcoming Events:

  • Sui and KuCoin Labs will co-host a summer hackathon from May 29th to July 12th.

July 13th

Project Updates:

  • BlockFi plans to discuss its bankruptcy plan in a court hearing in New Jersey on July 13th.
  • Crypto exchange Upbit will delist Augur token REP on July 13th.
  • Binance will delist ATA/BUSD, FORTH/BUSD, and other isolated margin trading pairs on July 13th.

Key Events:

  • JD.com’s large-scale model ChatJD will be launched on July 13th.
  • The US SEC will respond to Coinbase’s initial legal defense on July 13th.

July 14th

Project Updates:

  • Crypto payment provider Wyre will be shutting down, and users can withdraw their assets before July 14th.
  • Open-source programmable cryptocurrency platform Spacemesh will go live on the mainnet on July 14th.

Key Event:

  • The US court is expected to announce a ruling on Terraform Labs’ motion to dismiss the SEC lawsuit by July 14th.

July 15th

Key Event:

  • KuCoin will enforce mandatory KYC for users starting from July 15th.

Proposal Voting:

  • MakerDAO community’s governance proposals, including adjustments to multiple risk parameters, will conclude on July 15th.

Upcoming Events:

  • Polkadot Decoded 2023 APAC will take place on July 15th at the Shanghai Hongqiao International Exhibition Center.
  • ImmutableX token IMX will unlock 18.08 million tokens (approximately $12.72 million) at 18:00 on July 15th, accounting for 1.74% of the total supply.

Project Updates:

  • Dune has released the SparkSQL and PostgreSQL deprecation schedule, with services officially discontinuing on July 15th.

July 16th

Token Unlocking:

  • Flow token FLOW will unlock 7.29 million tokens (approximately $4.4 million) at 08:00 on July 16th, accounting for 0.7% of the total supply.

Key Event:

Thailand’s digital asset operators are required to fully comply with the provisions of the digital asset wallet regulatory rules by July 16th.