Crypto Morning Brief: Binance to launch "BNSOL"; Pantera invested in TON tokens at 40% discount in May with one-year lock-up period
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Crypto Morning Brief: Binance to launch "BNSOL"; Pantera invested in TON tokens at 40% discount in May with one-year lock-up period
Coinbase International will list perpetual contract pairs for BB, CFX, and NEO.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Vitalik: I've never used a ghostwriter—every post and article is written by me
Ethereum co-founder Vitalik Buterin responded to questions regarding his social media activity. When asked whether he personally replies to most reasonable comments and tweets or if a team handles it for him, Buterin clearly stated: "I've never used a ghostwriter, neither for long-form articles nor for tweets."
Binance: 'BNSOL' coming soon
After Binance posted on X saying "BNSOL Coming Soon," Sanctum replied with a handshake emoji, suggesting a potential collaboration to launch a new liquid staking token.
Coinbase International Exchange to list perpetual contract pairs for BB, CFX, and NEO
According to an announcement from Coinbase International Exchange, perpetual contract trading pairs for BounceBit (BB), Conflux (CFX), and Neo (NEO) will be listed on both Coinbase International Exchange and Coinbase Advanced. Trading for BB-PERP, CFX-PERP, and NEO-PERP markets is expected to begin at 9:30 UTC on September 5, 2024, or thereafter. Relevant tokens include BB, CFX, and NEO.
dappOS launches Intent Assets to unify asset yield and usability
Intent execution network dappOS has announced the launch of Intent Assets, aiming to solve the fragmentation between asset yield and usability in the crypto industry. Under a decentralized, non-custodial framework, Intent Assets will allow users to earn yield while using their assets seamlessly across chains just like native assets. For example, intentETH can be directly used on DEXs to provide ETH/USDT liquidity, deposited as ETH into CEXs, and simultaneously generate real-time annualized yields of 6–12%. Launch partners for Intent Assets include Pendle, Bouncebit, and Monad. Previously, dappOS received investment from institutions including Binance Labs and Polychain; this new Intent Asset product is one of the core use cases of its "intent execution network."
Bloomberg: Pantera invested in TON tokens at 40% discount in May with one-year lock-up
According to Bloomberg, Pantera Capital Management, Animoca Brands, Mirana Ventures, and over ten other firms previously invested in Toncoin, which Telegram uses on its blockchain for instant payments and other services. Sources say Pantera, one of the largest crypto venture funds, invested over $100 million in Toncoin earlier this year.
The sources noted that Pantera purchased Toncoin at 40% below market price. Based on the average price of $6.32 when the deal was announced in May, the investment remains highly profitable. The sources added that Pantera’s tokens are subject to a one-year lock-up, after which they may sell their holdings gradually over several years.
Binance to launch CHESS/USDT perpetual contract with up to 75x leverage
Binance Futures launched the CHESSUSDT perpetual contract at 07:30 UTC on August 29, 2024, offering maximum leverage of up to 75x.
Web3 game SHRAPNEL: Regains board control, plans official launch in first half of 2025
Web3 game developer SHRAPNEL released a community memo this morning detailing recent developments. The company acknowledged recent staff departures but emphasized that its core team remains among the best in the industry. The memo mentioned ongoing legal disputes involving the founder level but confirmed that board control has been regained, minimizing impact on the product team. SHRAPNEL said development is now focused on three areas: improving game quality and usability, developing high-quality on-chain assets, and increasing utility for the SHRAP token. The company plans to host an extended early access event in Q4 2024 to prepare for the free-to-play official release in the first half of 2025.
QCP Capital: With limited catalysts ahead, crypto markets may continue range-bound trading in September
Crypto trading firm QCP Capital recently analyzed that Nvidia’s strong earnings report yesterday triggered a classic “sell the news” reaction in today’s crypto markets. As a result, Bitcoin dropped back to $59,000, while Ethereum traded weakly around $2,500. QCP Capital noted that short-term implied volatility briefly spiked following the spot price decline but then fell roughly 10 percentage points after Nvidia’s results were released. Skew in Bitcoin and Ethereum risk reversals remains biased toward put options through October, indicating continued caution about downside risks. The firm expects market volatility to keep declining ahead of next week’s Non-Farm Payrolls report, as markets position for potential Fed rate cuts. QCP Capital believes that due to a lack of near-term catalysts, cryptocurrency prices may continue trading within a range throughout September.
AI L1 infrastructure Edge Matrix Chain (EMC) raises $20M led by Amber Group and Polygon Ventures
Edge Matrix Chain (EMC), incubated by Future3 Campus, has announced a $20 million funding round led by Amber Group and Polygon Ventures, with participation from notable investors including One Comma, Kapley Judge and Associated Corporations, Cyberrock Venture Fund, Candaq Fintech Group, and Hameem Raees Chowdhury. EMC will use the funds to upgrade into an AI Layer 1 infrastructure, accelerating ecosystem expansion and development. EMC launched a two-month public testnet incentive program on August 17, where participants can earn EMC tokens and experience innovative AI public chain technology. A total reward pool of $5 million will be distributed through two phases of incentives.
BNB Chain launches Season 8 MVB Accelerator Program, applications close on September 18
BNB Chain has opened applications for the eighth season of its Most Valuable Builder (MVB) Accelerator Program, jointly operated by Binance Labs and CMC Labs to support project growth within the BNB Chain ecosystem. This season’s program lasts four weeks, with applications closing at 07:59 AM Beijing Time on September 19, 2024. It targets early-stage teams building innovative Web3 projects on BNB Chain, offering customized courses, fireside chats, one-on-one mentorship, and up to $300,000 worth of free services. Last season received hundreds of applications, with an acceptance rate below 2%. Projects must meet the following criteria: the majority of operations and transaction volume occur on BNB Chain, core business smart contracts are deployed on BNB Chain, and the project’s token was initially issued on BNB Chain.
deBridge token DBR to be fairly launched via Jupiter LFG at $0.025
The deBridge Foundation announced it will conduct a fair launch of the DBR token via Jupiter Exchange’s LFG (Launch Fair and Grow) mechanism. This aims to prioritize genuine users over MEV bots during allocation. DBR will be offered at a fixed price of $0.025, with a per-qualified-address investment cap of $25,000. A total of 200 million DBR (2% of total supply) will be issued, with a total investment cap of 5 million USDC. Additionally, deBridge will provide 3 million USDC and 100 million DBR as protocol-owned liquidity in a Meteora AMM pool, with an initial trading price of $0.03. 50% of DBR will be claimable at Token Generation Event (TGE), with the remaining 50% unlocking after six months. The LFG sale will take place on the deBridge Foundation website and last for 24 hours. The exact timing will be announced later. Previously, deBridge announced the formation of its foundation and launched a DBR airdrop eligibility checker.
Alchemy acquires blockchain infrastructure provider Bware
Web3 development platform Alchemy has acquired Romanian blockchain infrastructure provider Bware. Bware’s 40-member team will join Alchemy’s product division. Financial terms of the acquisition were not disclosed. The transaction will not affect existing customers of either Alchemy or Bware. Furthermore, Alchemy will not assume control of Bware’s INFRA decentralized network or its associated token.
Metis Foundation partners with Gitcoin to launch $4M annual grants program
The Metis Foundation will collaborate with Gitcoin to support a $4 million annual grant program aimed at fostering innovation and development within the Metis ecosystem. The first round, hosted by Gitcoin, launched today (August 29) and will distribute 3,000 METIS (equivalent to $100,000) via Quadratic Funding (QF). QF is a crowdfunding mechanism that rewards projects based on the number of unique donors. Gitcoin has allocated over $60 million through such mechanisms to date. Projects must focus on growing the Metis ecosystem, and builders can apply via Gitcoin to receive funding and ongoing support.
Market Data Update
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