This Week's Noteworthy Events (2023.12.11-2023.12.17)

Cosmos Ecosystem's Eclipse Fi Unveils ECLIP Tokenomics, IDO Whitelist Applications to Begin This Monday

Eclipse Fi, a modular token issuance platform in the Cosmos ecosystem, has unveiled the tokenomics of its ECLIP token on the X platform, including the following details:

• Total Supply: 300,000,000 ECLIP tokens

• Initial Circulating Supply: 20,550,000 ECLIP tokens

• IDO Price: $0.075 / FDV: $22,500,000

• Launch Chain: Neutron (ECLIP will also be wrapped on Arbitrum and Ethereum)

Gas Hero Community Testing to Conclude on December 11th

The development team Find Satoshi Lab's new game, Gas Hero, under STEPN, will conclude its community testing on December 11. Following this, NFT rewards will be provided to the top 100 players based on their performance during the testing period from November 27 to December 11.

Nostr Assets Announces Fair Mint Rules, First Phase to Commence on December 11th

The Nostr Assets Protocol has announced the details of the Fair Mint, revealing that the total supply of NOSTR tokens is 21,000,000. The Fair Mint event will allocate 18,900,000 tokens, with the first phase starting on December 11. Subsequent phases will be announced separately. Additionally, the Nostr Assets Protocol has stated that there will be an airdrop to ORDI holders, with the snapshot completed on December 5 at 05:00 (UTC+8).

South African Regulatory Body Receives 128 Cryptocurrency License Applications, Plans to Review 36 of Them on December 12th

As of November 30, 2023 (the application deadline), the Financial Sector Conduct Authority (FSCA) of South Africa has received 128 applications for

cryptocurrency

service provider licenses. The FSCA plans to review the statements of 36 licensees at the license executive committee meeting on December 12. Additionally, 22 applications will be submitted by February 13, and the remaining 14 applications must wait until March 12. The authority did not specify the fate of all remaining applications, interpreting its assessment approach as a comprehensive evaluation of “know your customer” onboarding, data protection, network risk management, conflict of interest management, complaint handling, and credit counterparty risk management.

Earlier reports mentioned that South Africa would require

cryptocurrency exchanges

to obtain licenses by the end of the year, suggesting that the FSCA might issue licenses to some cryptocurrency companies this month.

OKX Jumpstart Lists Fusionist (ACE), ACE Staking to Commence on December 13th

According to an official announcement, a new project, Fusionist (ACE), has been launched on OKX Jumpstart.

The OKX Jumpstart mining will start at 14:00 on December 13, 2023. Both BTC and OKB holders can earn ACE tokens by staking BTC and OKB.

This OKX Jumpstart offering is limited to East Asian countries and excludes mainland China, Hong Kong, Macau, Mongolia, North Korea, and Japan. Participants are required to complete KYC verification.

Gyeonggi Province in South Korea to Enforce Regulation Requiring Senior Public Officials to Declare Virtual Assets from December 14th

South Korea's Gyeonggi Province announced today that it has completed the revision of the “Gyeonggi Province Code of Conduct for Public Officials.” The updated rules require public officials in Gyeonggi Province with a rank of level 4 or higher to report their holdings of virtual assets such as Bitcoin by September 1. If necessary, officials will verify the relevance to their duties and take preventive measures based on the information to prevent private gains in the course of their duties.

It is reported that the mandatory reporting of virtual assets by senior public officials will be implemented on December 14 under the “Code of Ethics for Public Officials.”

The Montenegrin Ministry of Justice to Determine Final Extradition Plan for Do Kwon by December 15th

Terraform Labs co-founder Do Kwon has filed an appeal against the extradition decision made by the Higher Court in Podgorica, the capital of Montenegro. He is requesting the Montenegro Court of Appeals to review the decision.

The Montenegrin court had decided on June 15 to detain and extradite Do Kwon. It is anticipated that the Montenegrin Ministry of Justice will determine the final destination for Do Kwon's extradition by December 15.

Binance to Discontinue Support for BUSD Products on December 15th

According to an official announcement, due to Paxos discontinuing the minting of new BUSD, Binance will stop supporting BUSD products on December 15, 2023. To ensure the security of user assets, BUSD will continue to be pegged to the US Dollar at a 1:1 ratio. Paxos has stated that it will continue to support BUSD and keep the BUSD redemption channel open at least until February 2024.

Binance advises users to withdraw their BUSD holdings or convert their BUSD assets into other assets supported on the Binance platform before December 15, 2023. Users can trade their BUSD assets for FDUSD on the Binance spot market at zero fees, or they can exchange their BUSD assets for FDUSD on the Binance Swap trading platform at a 1:1 ratio.

Fantom Foundation Launches Sonic Labs Accelerator Program, Developers Can Start Building from December 15th

The Fantom Foundation has announced the launch of the Sonic Labs entrepreneurial accelerator program, aimed at fostering innovation within Fantom's new Sonic technology stack and providing resources and support for the next generation of Web3 entrepreneurs.

The program will select up to five projects, providing each project with funding support of 1 million FTM (approximately $294,000), along with technical support, joint marketing, and mentorship guidance.

The Fantom Foundation encourages eligible projects to apply, and developers can start building projects on Sonic starting from December 15. These projects will be launched alongside the Fantom Sonic mainnet in the spring of 2024.

The Sonic Labs program is open to all developers building new applications on the Fantom technology, including GameFi, DeFi, and more. The judging criteria for the competition include vision, utilization of Sonic technology, target user group, uniqueness, positive impact on the Fantom network and users, and brand. The application deadline is February 6, 2024.

FTX Creditors' Alliance: Initial Public Bidding for Acquisition Action to be Announced Before December 16th

FTX 2.0 Coalition, the creditors' alliance for FTX, has released the latest court updates on the X platform:

• The stalking horse bid will be announced by December 16. Note: A stalking horse bid refers to the initial bid proposed by a buyer selected by the company applying for bankruptcy protection. It is the first step in an open bidding process designed to attract more potential buyers to propose competitive acquisition prices.

• Cryptocurrency claims valuation motion held in November.

• Client names will remain anonymous (permanent anonymity for natural persons).