The Philippines blocks unlicensed exchanges, Binance unaffected

March 8, 2024

I. Mainstream exchange news

• Binance launched Futures NEXT, which rewards users for accurately predicting token listing info on Binance Futures.
• Binance Futures NEXT has listed 31 tokens for users to vote on, with total “Picks” valued at over $140,000.
• Binance added BNB/JPY, BTC/JPY, and ETH/JPY pairs and introduced zero-fee trading for JPY spot pairs.
• Coinbase will list Blur, Sei, and Uniswap perpetual futures contracts on March 14th.

II. Mainstream projects and trending events

• Hong Kong fintech company AnchorX was established, aiming to explore the stablecoin AxHKD.
• The US SEC postponed a decision on the BlackRock Bitcoin spot ETF option trading application.
• BlackRock has asked the US SEC to add Bitcoin spot ETF exposure to its Global Allocation Fund.
• The Worldcoin Foundation announced 28 projects selected as part of its Wave0 community funding program to advance the Worldcoin tech tree.
• Arkham confirmed that Tesla and SpaceX currently hold Bitcoin valued at approximately $1.34 billion.
• Jupiter initiated a genesis vote, wherein locked JUP voters were given Launchpad fees reward .
• Figment Europe and Apex Group will list Ethereum and Solana staking ETPs on the Swiss Stock Exchange.

III. Funding news

• Bitcoin trading app Oyl raised $3M in a pre-seed round led by Arca.
• Development platform for the Cosmos ecosystem, Cosmology, raised $5 million in a seed round.
• Modular blockchain Blackwing raised $4.5 million, with Hashed leading the round.
• Web3.0 social platform beoble announced strategic investment from Animoca Brands.
• Mind Network announced a partnership with ZAMA to launch a homomorphic encryption zero-trust layer testnet.
• AI video generation tool Haiper raised $13.8M in a seed round led by Octopus Ventures.
• Cryptography company Zama raised $73M in a Series A round co-led by Multicoin Capital and Protocol Labs.

IV. Regulatory news

• Nigeria's SEC updated guidelines for crypto firms to deter criminal activity.
• Tether signed a memorandum of understanding with the government of Uzbekistan to develop blockchain and P2P telecom infrastructure.
• The government of the Philippines started blocking unlicensed crypto trading websites, but Binance remains unaffected for now.

IV. Popular projects 

KMNO, a DeFi platform on Solana, to launch tokens in April

Kamino, a DeFi platform on Solana, will end its Q1 credit snapshot on March 31 and launch its KMNO token in April. The token will initially circulate 10% of its total supply, and 70%  of the 10% in circulation will be distributed to participants of its credit activities. A subsequent airdrop will be initiated in April to encourage continued user engagement. The protocol's TVL is now $690 million, up 38% in the past week.

BONSAI will airdrop tokens to Lens ecosystem active users

BONSAI, a DN404 token on Polygon, will airdrop tokens to 4,500 active Lens users in Q1, accounting for 25% of the total distribution. Each user holding 100,000 BONSAI tokens will receive one NFT. The token already attracted attention from AAVE and Lens founder Stani, who retweeted it multiple times. Presently, BONSAI has a valuation of $9 million and a market cap of $2.25 million. As Lens plans to issue its token, BONSAI is potentially heading into the spotlight as a top meme+NFT project in the Lens ecosystem.

PEPE’s founder will launch a new NFT

PEPE's founder, Matt_Furie, will release a new NFT at 3 pm (EST) on March 8th. The campaign will last for one day. The new project, The Peplicator, in collaboration with Chain/Saw, will allow users to browse collections and mint their favorite Pepe. NFT minting prices range from 0.042ETH to 0.1ETH.

MyShell joins the NVIDIA Inception Program

MyShell, a decentralized generative AI creator platform, announced on March 8th that it has become part of the NVIDIA Inception Program. They had previously announced on October 16, 2023, that they had secured $5.6 million in funding, led by INCE Capital, with Hashkey Capital, Folius Ventures, SevenX Ventures, and OP Crypto taking part. Users have the opportunity to interact and create robots to get future token airdrop opportunities.

Scallop, a Sui ecosystem project, will launch tokens soon

Scallop, a leading lending protocol within the Sui ecosystem, has announced its token economy. With a total of 250 million tokens, the main allocations include:

45% for liquidity mining, 

15% for contributors,

4% for development and operations,

15% for strategic partners and investors,

1.5% for advisors,

7.5% for ecosystem, community, and marketing,

5% for liquidity,

7% for the treasury;

At the Token Generation Event (TGE), 7% of tokens will be unlocked, with additional tokens to be released over time or after a certain lock-in period. Scallop announced on March 3rd, it secured a $3 million strategic investment led by CMS and 6MV, with KuCoin Labs, 7UpDAO contributing. On March 7th, it announced the completion of its angel round that included a large number of KOLs.

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