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Web3 Daily | Hong Kong Virtual Asset Rating Agency HKVAC Officially Established; Over $550 Million OP Unlocked Today.

05-31 20:10
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Important Cryptocurrency Industry News Summary for May 31st

Selected News:

1. Hong Kong Virtual Asset Rating Agency (HKVAC) has officially been established, and will launch virtual asset indices and trading platform ratings.

2. Hop Alliance initiated a proposal to distribute nearly 870,000 HOP Tokens to 35 witch hunter addresses.

3. OP worth over 550 million US dollars will be unlocked at 8:00 today.

4. The blockchain game Illuvium has completed a $10 million financing round, with participation from Framework Ventures.

5. Unisat has launched a domain trading test function that supports two types of domains: .sats and .unisat.

6. Ordinals. Creator Casey Rodarmor will resign as the chief maintainer, but will still be involved in the project.

Project Updates

Hop jointly initiated a proposal to distribute nearly 870,000 HOP Tokens to 35 witch hunter addresses.

The co-founder of cross-chain bridge HopProtocol, Shane Fontaine, initiated a proposal to distribute HOP airdrops to Witch Hunters. The proposal is currently undergoing a Temperature Check vote with a current approval rate of 99.46%. The voting will end on June 1st.

This proposal suggests distributing 869,566.51 HOP tokens to 35 Sybil hunters' addresses. These addresses helped the project team remove witch attackers from the Hop airdrop during the launch of Hop DAO last year, resulting in Hop DAO retaining nearly 3.5 million HOP tokens. The planned airdrop accounts for 25% of these tokens.

Nansen lays off 30% of its employees, CEO says expansion was too fast

The blockchain data platform Nansen announced a 30% layoff, and CEO Alex Svanevik said it was a "cruel" year for the cryptocurrency market. He pointed out that Nansen expanded too quickly and expanded into areas that were not part of its core strategy.

加密交易平台 Bybit 将退出加拿大市场 Translation:

Cryptocurrency trading platform Bybit will exit the Canadian market

According to CoinDesk, Bybit has announced that it will gradually withdraw from the Canadian market starting from May 31st, due to recent regulatory changes in Canada.

The company stated that it will no longer open new accounts from May 31st, and existing customers can still deposit and open positions before July 31st, and can withdraw or close positions after the deadline. In February of this year, Canada released new guidance for cryptocurrency companies, requiring cryptocurrency trading platforms to obtain approval from the Canadian Securities Administrators (CSA), including through various due diligence measures.

Binance will support the Optimism network hard fork and will temporarily suspend OP deposits and withdrawals

According to an official announcement, Binance will support the Optimism (OP) network upgrade and hard fork. The specific arrangements are as follows: Binance is expected to suspend the deposit and withdrawal services for OP tokens at 23:30 on June 6th to support the network upgrade and hard fork of Optimism (OP) on June 7th at 00:00. During the network upgrade and hard fork, OP trading will not be affected.

Sei launches cross-chain bridge Sei Bridge testing activity

Public blockchain Sei Network announced the launch of cross-chain bridge Sei Bridge testing activity, aiming to test Sei Bridge across multiple networks and collect user feedback.

Unisat has launched a domain name trading test function, supporting two types of domain names: .sats and .unisat

According to the official website, Unisat has launched domain trading test function, currently supporting two types of domain trading: .sats and .unisat.

dYdX will launch multi-platform applications and open source front-end code libraries and related deployment scripts

The decentralized perpetual contract protocol dYdX has released an article introducing the v4 architecture and how the frontend works. They refer to their web frontend as providing an intuitive UI/UX for traders who do not want to interact with v4 programmatically. They are building three frontends: a web application, an iOS application, and an Android application. Additionally, they will provide Typescript and Python SDKs for advanced users/institutions. dYdX has stated that they will open-source all frontend code repositories and related deployment scripts, allowing anyone to easily deploy the dYdX frontend through their own domain/hosting solution.

The decentralized social network Mastodon has registered over ten million users

According to Statista data, as of March 2023, the registered users of decentralized social media platform Mastodon have exceeded 10 million. Previously, in the ten days after Elon Musk took over Twitter in October 2022, the platform gained about 500,000 new users.

It is reported that Mastodon is a free and open-source decentralized microblogging social network. Its features and operation are similar to Twitter, but the entire network is not operated by a single centralized organization. Instead, it is a decentralized social network composed of multiple servers operated independently by different operators, exchanging data in a federated manner.

Cosmos ecosystem wallet Keplr announced the release of Keplr 2.0 version recently.

Cosmos ecosystem wallet Keplr Wallet announced that it will gradually launch Keplr 2.0 in the next few days. The new version can display multi-chain assets on one page; support asset and chain search; support one-click claiming of all rewards; and allow users to customize the visibility of chains.

According to Decrypt, Casey Rodarmor, the creator of the Bitcoin protocol Ordinals, has announced that he will resign as the chief maintainer of the protocol and transfer control to an anonymous developer named "Raph", who has agreed to take on the role of chief maintainer. Rodarmor cited his inability to give the necessary attention to Ordinals as the reason for his decision to step down as chief maintainer. Meanwhile, Raph stated that although the title has changed, Casey will still be involved in the project, and his decision to step down as chief maintainer is simply because he does not want to be the public face of Ordinals at this time.

BitKeep wallet starts the journey of mining with zkSync, and interaction can get ZKBG

Web3 multi-chain wallet BitKeep has launched a large-scale interactive activity called "zkSync Journey" at 18:00 today, where users can earn ZKBG through interaction. Through a one-stop landing page, information on the zkSync Era project entrance, introduction, and interactive tutorials are aggregated to help users easily complete ecological project interactions and unlock eligibility for future official zkSync Era airdrops. At the same time, the activity also provides rich rewards such as ZKBG points and popular project airdrops.

BitKeep wallet currently fully supports the zkSync Era ecology, including mainnet access, asset deposit and withdrawal, multi-chain exchange, K-line market, and DApp ecology aggregation in multiple dimensions. Users can manage assets on zkSync Era on mobile and web plugin platforms, and conduct token single-chain and multi-chain transactions.

Coinbase Wallet launches gas-free USDC transfer promotion on Polygon network

According to the official Twitter account, Coinbase Wallet has announced the launch of a fee-free USDC transfer promotion on Polygon. Users can send USDC without paying any network fees and experience instant payments without being limited by cross-border transfer restrictions.

Pi Network is launching a social media platform called Fireside Forum.

According to The Block, Pi Network is launching a social media platform called Fireside Forum. The application will allow users to spend tokens to vote on content. Initially a text-based social platform, Fireside Forum is adopting a model where users can use tokens to reward and promote posts they like, or invest them to punish posts they don't like. The company's goal is that the Pi Network model will help curb content that is deemed spammy, misleading, toxic, or above all else.


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A value of over $550 million worth of OP will be unlocked at 8:00 today.

According to information from TokenUnlocks, OP completed a large unlock at 8:00 this morning, unlocking 386,547,057 tokens, accounting for 9% of the total supply. Based on the current price, the value is approximately $550 million. BlockBeats previously reported that 73 million of these tokens will belong to institutional investors.

Data: A certain whale address deposited 1.04 million OP coins, equivalent to 1.48 million US dollars, to Binance 5 hours ago.

According to Lookonchain, a whale address deposited 1.04 million OP (approximately $1.48 million) into Binance 5 hours ago. Lookonchain's analysis suggests that whenever the price of OP rises, the address withdraws OP from Binance at an average price of $2.46. It appears that the address sold some OP at a loss, possibly due to concerns about a large-scale unlock happening today.

0xdfd address collected 100 million OP from 7 addresses and transferred to Coinbase

According to the on-chain data analyst Yu Jin, the 0xdfd address collected 100 million OP tokens (approximately $143 million) from 7 addresses and transferred them to Coinbase 1 hour ago. Yu Jin's analysis indicates that these collected OP tokens came from the distribution address of Optimism's core contributors (team) and investors' tokens, so the 100 million OP tokens that were just transferred to Coinbase should be a part of today's unlock.


链游 Illuvium 完成 1000 万美元融资,Framework Ventures 参投


Blockchain game Illuvium completes $10 million financing, with participation from Framework Ventures

The chain game Illuvium has completed a $10 million financing round, fully participated by Framework Ventures. The new funds will be used to accelerate game development and support its distributed contributor team. The tokens involved in this financing transaction will be locked for two years and will not be included in the pledge, so they will not participate in profit distribution.

Illuvium is about to launch its public beta, which includes three interoperable AAA games: Illuvium: Zero (city-building game), Illuvium: Overworld (monster world), and Illuvium: Arena (arena).

Web3 distribution platform MetaZone completes $3 million financing, led by Sfermion and CMT Digital

Web3 digital content and application distribution platform MetaZone announced the completion of a $3 million seed round of financing, led by Sfermion and CMT Digital, with participation from Tess Ventures, IOSG Ventures, IVC (Infinity Ventures Crypto), Polygon Studios, MHC Digital, and LucidBlue Ventures.

MetaZone allows creators and developers to create NFTs for 3D digital content and distribute them in the metaverse. Each creator's META (Tokenized application supported by the metaverse) is assigned an NFT that represents its value, ownership, and access rights. These NFTs can be purchased and used to install applications on digital land for the use of the land's owner and visitors.

Insiders: Members of MoonPay co-founders and other teams cashed out $150 million in Series A financing

According to sources cited by The Information, MoonPay, a cryptocurrency payment platform, raised $150 million in Series A funding in November 2021. During the Series A funding round in 2021, MoonPay raised $555 million at a valuation of $3.4 billion, with participation from investors such as Tiger Global and Coatue. Some of the funds were used to purchase shares from existing shareholders, such as co-founder and CEO Ivan Soto-Wright.  

The source said, "MoonPay raised $405 million by selling shares to investors, and the remaining $150 million represents the shares held by insiders that were cashed out in secondary transactions." A few weeks after the Series A financing, Ivan Soto-Wright purchased a $38 million mansion in Miami.


Hong Kong SFC CEO: Virtual Asset Trading Platform Guidelines Prioritize Investor Protection

According to a report by China News Service, Leung Fung-yee, the CEO of the Hong Kong Securities and Futures Commission, stated on the 30th that the Hong Kong Securities and Futures Commission will prioritize the protection of investors when formulating guidelines for virtual asset trading platform operators. The Hong Kong Virtual Asset Trading Platform Operator Guidelines will take effect in June. Leung Fung-yee believes that the guidelines meet market expectations and that prioritizing investor protection is the right approach, such as ensuring the safekeeping of assets, segregating client assets, and avoiding conflicts of interest through regulation. She is pleased to see the Hong Kong Securities and Futures Commission become a leading example of regulatory agencies.

Hong Kong Virtual Asset Rating Agency HKVAC officially established, will launch virtual asset index and trading platform rating

According to official sources, Hong Kong Virtual Asset Consortium (HKVAC), a virtual asset rating agency, has announced its official establishment and is launching a "Virtual Asset Index" and "Virtual Asset Exchange Rating".

HKVAC was established by a specialized rating agency and industry leaders in the virtual asset industry, including big data companies, trading platforms, institutional investors, and Hong Kong licensing rating agencies. Its aim is to create a secure investment environment for virtual assets and to increase public recognition of virtual assets. HKVAC continuously monitors the risk level of the trading market, provides risk management indicators for industry stakeholders and investors, conducts credit evaluations of virtual assets on exchanges, and ensures that all investors are aware of the risk level of their investments.

"Bitcoin Standard" author becomes economic advisor to El Salvador's national Bitcoin office

According to Decrypt, Saifedean Ammous, the author of "The Bitcoin Standard", has become the latest economic advisor to the Salvadoran Bitcoin Office (ONBTC), and he will work remotely without requiring a salary. Ammous stated that he plans to provide advice on the country's Bitcoin strategy and expressed confidence in "El Salvador's ability to get out of debt in five to ten years." Ammous also stated that the country has "enormous potential to become an innovation hub."

The Central Bank of the United Arab Emirates has issued new guidelines related to anti-money laundering and counter-terrorism financing in the virtual asset field.

According to ZAWYA, a Middle Eastern media outlet under Reuters, the Central Bank of the United Arab Emirates (CBUAE) has issued new guidelines on anti-money laundering and countering the financing of terrorism (AML/CFT) for licensed financial institutions (LFIs). The guidelines will help LFIs understand risks and effectively fulfill their legal AML/CFT obligations, while considering the standards of the Financial Action Task Force (FATF). The guidelines will take effect within a month.

The new guidelines discuss the risks associated with handling virtual assets (VA) and virtual asset service providers (VASP), and provide clear descriptions of virtual assets, VASPs, and their business models.

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