This week's preview | Optimism mainnet will undergo Bedrock upgrade, Circle will launch native USDC on Arbitrum

A glance at the most noteworthy industry events and important project progress in the coming week.

Coinbase Derivatives Exchange, Coinbase’s derivatives trading platform regulated by the U.S. Commodity Futures Trading Commission (CFTC), will launch Bitcoin and Ethereum institutional futures products, namely Coinbase Bitcoin (BTI) and Coinbase Ether (ETI) futures contracts on June 5 . Coinbase Derivatives Exchange has previously launched nano Bitcoin (BIT) and nano Ether (ET) contracts.

The Aptos Foundation announced that it will hold Aptos Hack Holland in Amsterdam, the Netherlands from June 5th to 7th. The five major tracks of this hackathon are NFT, social and games; DeFi and payment; infrastructure, tools and public products; Move innovation Products; Artificial Intelligence (AI). The prizes for each track are set at USD 30,000 for the first prize, USD 20,000 for the second prize, and USD 10,000 for the third prize. Prize money will be provided in the form of USD and APT.

The Optimism mainnet Bedrock upgrade will be carried out at 00:00 on June 7. The mainnet will be shut down for 2-4 hours. During the downtime, transactions, deposits and withdrawals will not be possible. Node operators need to start a new node deployment for Bedrock. This upgrade aims to provide L2 networks with modularity, simplicity, and Ethereum equivalence, with positive impacts on performance and security. In addition, Synthetix stated that during the Bedrock upgrade, all Synthetix contracts on Optimism will be inaccessible.

Circle will launch native USDC on Arbitrum on June 8, 2023. The native USDC will eventually replace the currently circulating USDC version Bridged USDC bridged from Ethereum. Before the native USDC launch on June 8th, Arbitrum will rename the Ethereum bridge version of USDC to “USDC.e” on the block explorer. Additionally, Circle hopes to introduce the Cross-Chain Transfer Protocol (CCTP) to Arbitrum after launching native USDC on Arbitrum, which will enable USDC to be transferred in and out of Ethereum and other supported chains within minutes, with no withdrawal delays.

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June 5th

Project Progress

• Coinbase Derivatives Exchange to Launch Bitcoin and Ethereum Institutional Futures Products June 5
• Neutron token NTRN issuance plan ends on June 5
• Binance Futures will stop supporting SOL as a margin asset in multi-asset mode on June 5

Token Unlock

• The Liquity token LQTY will unlock 657,350.91 pieces (approximately $820,000) at 08:00:00 on June 5, accounting for 0.657% of the total supply
• Galxe token GAL will unlock 416,666.66 pieces (about 560,000 USD) at 20:00:00 on June 5th, accounting for 0.208% of the total supply

Upcoming Events

• Aptos will be at Aptos Hack Holland in Amsterdam from 5th to 7th June 2023
• ChainCatcher held an offline event themed “Finding the Market’s Next Massive Pump” in Seoul, South Korea at 14:00 on June 5

NFT Minting

• Project name: Ordinal Bones, chain: BTC, total circulation: 1000, minting price: 0.0025

June 6th

Project Progress

• FASB’s Proposed Cryptocurrency Fair Value Accounting Rule Open for Feedback by June 6

Upcoming Events

• Muverse Asia tour in Dubai, United Arab Emirates will be held on June 6
• Voyager liquidation proceedings hearing set for June 6
• BUIDL Asia 2023 will be held in Seoul, South Korea on June 6-7

Token Unlock

• Tornado Cash token TORN will unlock 175,000 pieces (about 680,000 USD) at 11:29:50 on June 6th, accounting for 1.75% of the total supply
• The dYdX token DYDX will unlock 6,520,128 pieces (about 13.76 million USD) at 23:00:00 on June 6, accounting for 0.652% of the total supply

June 7th

Project Progress

• The Optimism mainnet Bedrock upgrade will be held at 00:00 on June 7th, and the mainnet will be shut down for 2-4 hours
• All Synthetix contracts on Optimism will be inaccessible from 00:00 to 04:00 on June 7th
• The Horizen mainnet will undergo a hard fork upgrade at approximately 21:00 on June 7, Beijing time

Token Unlock

• Hashflow Token HFT will unlock 3,230,889.22 pieces (about 1.49 million USD) at 08:00:00 on June 7th, accounting for 0.323% of the total supply

NFT Minting

*Aviation-themed NFT marketplace launched by Japan’s All Nippon Airways will release a second NFT collection on June 7th

• Mercedes-Benz will release NFT series Maschine, which will be held in Dutch auction on June 7
• Project name: Eon Rift, chain: ETH, total circulation: 5000, minting price: 0.05

Upcoming Events

*Tribeca Film Festival, June 7-18, will be selling VIP passes as NFTs in partnership with OKX

June 8th

Token Unlock

• Euler token EUL will unlock 143,356 pieces (about 270,000 USD) at 02:07:58 on June 8, accounting for 0.527% of the total supply

Upcoming Events

• Starbucks will provide NFT airdrops for eligible Odyssey members in June *BTC Prague, Europe’s largest Bitcoin conference, will be held June 8-10, 2023

Project Progress

• Circle will launch native USDC on Arbitrum on June 8th

important events

• The Kenyan government will announce the national budget on June 8, planning to impose a 3% tax on digital asset transfers

June 9th

Project Progress

• Neon, a Solana EVM compatible solution, will launch a token sale on CoinList at 1:00 on June 9, Beijing time
• Korean game company Wemade will launch new DeFi services Kurrency and Konverter on the WEMIX 3.0 mainnet on June 9

important events

• Japanese financial regulator requires FTX Japan to retain domestic assets before June 9

Token Unlock

• The Hop Protocol token HOP will unlock 20,000,000 pieces (about 1.57 million USD) at 14:30:00 on June 9th, accounting for 2% of the total supply

June 10th

Token Unlock

• Moonbeam token GLMR will unlock 3,041,666.68 pieces (approximately $870,000) at 08:00:00 on June 10, accounting for 0.304% of the total supply
• 1inch token 1INCH will unlock 21,429 pieces ($7996) at 16:00:00 on June 10, accounting for 0.001% of the total supply

NFT Minting

• Project name: Arbixel Genesis, chain: ETH, total circulation: 512, minting price: 0.15

June 11th

Project Progress

• Insurance protocol Degis’ public testnet event in Arbitrum is expected to run until June 11