Last week of 2023 | UniSat supports ARC20, nearly $80 million OP unlocked

Take a look at the most noteworthy industry events and important project progress in the coming week.

1. Japan’s Osaka Digital Exchange launched its first digital securities trading.
2. UniSat Wallet supports ARC20 on December 26th.
3. Thailand’s decree exempting crypto transactions from VAT ends at the end of the year.
4. Nearly $80 million in OP will be unlocked on December 30.
5. Voting on the proposal to limit the maximum voting power to 45% of Balancer DAO will end.

Web3 events this week (December 25th - December 31st) are not to be missed. The following is a preview of this week’s highlights:

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important events

Asia’s security token issuance market has added a new member. Japan’s Osaka Digital Exchange Co. will launch Japan’s first digital securities trading on December 25. The first batch of transactions will be securities issued by real estate investment company Ichigo Inc. Ichigo plans to sell about 3 billion yen (about 20.1 million U.S. dollars) in securities backed by real estate investment, an attempt by Japan to sell high-risk, high-return assets to increase funding in response to its aging population. Other Asian markets are also actively promoting rulemaking for security tokens, such as Hong Kong, which has lifted its restrictions on issuance to professional investors, and South Korea, which has revised its law to allow the issuance and distribution of security tokens.

Thailand’s 7% crypto VAT exemption ends on December 31, after the country passed a decree in May 2022 that exempted cryptocurrency transactions from April 1, 2022 to December 31, 2023 7% value-added tax, tax exemption is applicable to the transfer of digital assets completed in a digital asset trading center approved by the Securities Regulatory Commission and the transfer of public digital currencies issued by the Bank of Thailand (BOT). The main purpose of the tax exemption is to promote the encryption of authorized exchanges Currency Transactions. Whether the policy will continue in 2024 is unknown.

Project Progress

BRC20 and ARC20 are the two native asset protocols of BTC. After the recent popularity of BRC20, the progress of ARC20 is also worthy of attention. The ARC20 protocol supports the creation of various types of tokens on the Bitcoin blockchain. Bitcoin inscription marketplace and wallet provider UniSat will support ARC20 wallets, marketplaces, and inscription services this week at:

• UniSat Wallet will support ARC20 on December 26, 2023;
• UniSat Marketplace will open the ARC20 market on December 28;
• UniSat Inscribe will support ARC20 inscription on December 30th.

Later, UniSat will provide full support for the entire Atomicals protocol, including non-ARC20 assets.

In the last week of 2023, the crypto market is full of airdrops. The first batch of RENDER SPL tokens from the decentralized 3D rendering solution provider Render Network will be distributed on December 27; the game Layer3 solution XAI will conduct its first season on December 27 Token airdrop; the RPGF airdrop of Layer1 privacy chain Namada will end at 17:00 on December 28th; users who log in to Gods Unchained using Immutable Passport before December 31st will receive a free in-game appearance airdrop.

In addition, projects that announced the discontinuation of operations at the end of 2023 include fixed-rate lending protocol Yield Protocol and cross-chain DeFi lending aggregator Fuji Finance. Yield Protocol stated that the reason for the closure is the current insufficient demand for Yield Protocol’s fixed-rate borrowings and the increasing regulatory requirements in the United States, Europe and the United Kingdom. Lending activities on Yield Protocol will end on December 31, 2023. Users of Fuji Finance have until December 31, 2023 to withdraw funds through the Fuji user interface, and from 2024 users will need to interact directly with the smart contract.

Upcoming Events

The Viction Horizon Hackathon will start judging on December 28 and last until January 5, 2024. The Demo Day will be from January 8 to January 9, 2024. The total reward for this hackathon will exceed US$200,000. Covering five tracks: social networking, gaming, payment, stable currency, and DeFi.

Token Unlock

According to Token Unlocks data, from December 25th to December 31st, ACA, DYDX, 1INCH, YGG, AGIX, X2Y2, OP, and SUI tokens will receive a new unlock this week. Among them, the noteworthy large unlock is Optimism Token OP will unlock 24.16 million tokens at 12:00 on December 30, approximately US$79.97 million, accounting for 2.65% of the circulating supply.

Voting Governance

Aura contributors launched a proposal in the Balancer DAO community. This proposal aims to limit the maximum voting rights of individual Snapshot voters to 45%. The proposal emphasizes that Aura is approaching 50% of the veBAL supply and recommends that the Aura Representative Committee will vote based on Results are voted proportionally, not by block. The proposal mentions that the voting rights cap could be expanded to include groups of addresses under a single entity. Voting on this proposal ends in 1 day.

Feld, the founder of Boring Security, published a proposal in the ApeCoin community, seeking to allocate $239,000 in funds for 2024. Boring Security will deploy the funds into the Uniswap V3 liquidity pool so that the Boring Security DAO can be structured from the monthly income generated. Withdrawal to cover operating expenses not covered by its partner revenue and other grants, proposal voting ends in 3 days.