Week Ahead Industry Previews: Third Week of Feb 2024

  • Starknet has commenced an airdrop, distributing a total of 700 million STRK tokens.
  • SubQuery is set to launch its mainnet and carry out a Token Generation Event (TGE).
  • Solana Mobile will start “Snapshot 2” snapshot for its operations.
  • ETH Denver 2024 is scheduled to take place from February 23 to March 3 in Denver.
  • AVAX tokens with an estimated value of around $3.79 billion are set to unlock on February 22.

Key Events

Starknet is set to initiate an airdrop of 700 million STRK tokens on February 20 at UTC 12:00 (February 20, 20:00 Beijing Time). The airdrop primarily targets individual addresses, with approximately 1.297 million wallet addresses eligible to receive tokens. Qualified users can claim their tokens until June 20. This airdrop is intended for early users of Starknet, early community members, Starknet developers, StarkEx users, Ethereum contributors, Ethereum protocol guild members, Ethereum developers, EIP authors, ETH stakers, individual stakers, custodial stakers, and open-source developers.

The sentencing hearing for Zhao Changpeng, the founder and former CEO of Binance, has been postponed to April 30. The hearing, originally scheduled for February 23 at 9:00 AM Pacific Time (February 24, 1:00 AM Beijing Time), has been delayed, and the specific reasons for the postponement have not been disclosed. Federal sentencing guidelines recommend a maximum term of 18 months for Zhao Changpeng, but prosecutors are reportedly considering seeking a more severe sentence.

Project Updates

The Blast mainnet, originally scheduled to launch on February 24, will announce the latest exact date this week. Additionally, the submission deadline for the BIG BANG competition projects of Blast’s team has been extended from the original February 16 to February 19 at 1:00.

Data indexing infrastructure SubQuery will undergo its Token Generation Event (TGE) on February 22 and simultaneously launch the SubQuery mainnet. During this event, SQT tokens will be minted, and the unlocking plan will commence. Users who participated in the token public sale can also claim their SQT.

Solana Mobile conducted “Snapshot 2” for the Chapter2 leaderboard on February 22. The top 1500 users with the most recommendations after Snapshot 1 will receive non-transferable Tanzanite NFTs, and the historical top 1500 rankings will receive Diamond NFTs. Users who pre-purchased Chapter2 tokens after the first snapshot and before the second will receive Chapter2 pre-sale tokens.

Additionally, the following project upgrades this week are noteworthy:

  • IoTeX is expected to undergo a network upgrade and hard fork on February 19 at 08:58.
  • The Scroll mainnet is scheduled for an upgrade on February 21, reducing cross-chain costs for Scroll users by approximately 50%.
  • Optimism will undergo a network upgrade and hard fork on February 22 at 8:00 in 2024.
  • BNB Greenfield mainnet will experience the Hulunbeier mainnet hard fork on February 22.

Upcoming Events

NFT Paris is scheduled to take place in Paris from February 23 to 24, 2024. The event is expected to host 18,000 attendees, including developers, investors, brands, and artists from the fields of finance, gaming, art, fashion, sports, and media. Speakers at the event include Polygon co-founder Sandeep Nailwal, Yuga Labs CEO Daniel Alegre, and others.

ETH Denver 2024 will be held from February 23 to March 3 in Denver. ETHDenver is one of the world’s largest Web3 events for Ethereum and other blockchain protocol enthusiasts, designers, and developers. The event is 100% community-funded, and community-operated organization SporkDAO will raise $10 million to invest in projects for ETHDenver 2024.

Polygon will host Aggregation Day 2024 on February 23 at 22:00. The event aims to explain the technology behind AggLayer, Polygon’s upcoming blockchain aggregation layer. Polygon states that AggLayer v1 mainnet is set to launch, focusing on unifying liquidity.

Token Unlocks

According to Token Unlocks data, this week will see one-time large unlocks for AVAX, ID, and DYDX:

  • dYdX token DYDX will unlock 575,000 tokens on February 21 at 7:00, with a value of approximately $1.78 million, representing 0.19% of the circulating supply.
  • Avalanche token AVAX will unlock 9.54 million tokens on February 22 at 16:00, with a value of approximately $379 million, constituting 2.6% of the circulating supply.
  • SPACE ID token ID will unlock 18.49 million tokens on February 22 at 16:00, with a value of approximately $11.58 million, representing 4.29% of the circulating supply.

Governance Voting

The community proposal “Ecosystem Selection for the Treasure Chain” by TreasureDAO concluded its voting on February 22 at 5:30. As of the publication cutoff, Arbitrum secured the highest number of votes with a support rate of 99.79%. Other options in the voting included Optimism, zkSync, and SKALF. Earlier, TreasureDAO released the Treasure Chain Litepaper, outlining plans to launch the mainnet in Q3 of this year.