News Preview:
- CME Group plans to launch Solana (SOL) futures on March 17, pending regulatory review;
- Ethereum Foundation developers will launch a new "Hoodi" testnet on March 17 for final testing of the Pectra upgrade;
- Starknet plans to launch its mainnet between March 17 and 24;
- Gitcoin announces details of six community rounds for GG23, with OSS Program applications expected to start on March 17;
- The U.S. SEC cryptocurrency working group officially announces that its first roundtable will be held on March 21;
March 17
Exchanges:
CME Group plans to launch SOL futures on March 17
According to a press release, the derivatives market CME Group announced plans to launch Solana (SOL) futures on March 17, pending regulatory review. Market participants will have the option to trade micro contracts (25 SOL) and standard contracts (500 SOL). CME Group's SOL futures will be cash-settled and based on the CME CF Solana USD Reference Rate, which serves as the daily reference rate for the SOL/USD price, calculated daily at 4:00 PM London time. SOL futures will join the company's suite of crypto products, which includes Bitcoin and Ethereum futures and options.
The Kadena (KDA) network will undergo an upgrade and hard fork on March 18, 2025, at 00:00 (UTC), and Binance will support this upgrade. The suspension time for deposits and withdrawals is March 17, 2025, at 23:00 (UTC); the upgrade and hard fork block height is 5,659,280 (expected on March 18, 2025, at 00:00 UTC). Binance will reopen KDA deposits and withdrawals after the network upgrade is completed and stable, with trading unaffected.
Project Updates:
Ethereum developers to launch Hoodi testnet on March 17 in preparation for Pectra upgrade
Ethereum Foundation developers will launch a new "Hoodi" testnet on March 17 for final testing of the Pectra upgrade. Previously, configuration issues during the activation of Pectra on the Holesky and Sepolia testnets delayed the official release schedule. The Pectra upgrade aims to enhance Ethereum's usability and scalability, with key optimizations including reducing Layer 2 data availability costs, increasing staking limits, and introducing account abstraction to enhance smart contract and wallet functionalities. If testing goes smoothly, the upgrade could be officially deployed to the Ethereum mainnet as early as April 25. The Hoodi testnet will focus on validator exit testing to avoid the backlog in the Holesky exit queue that hindered related research.
Starknet plans to launch mainnet between March 17 and 24
According to Starknet's decentralized roadmap for 2025, its goal is to become the first fully decentralized Layer 2 (L2) that scales Ethereum on a large scale. Key focuses of the plan include staking mechanisms, decentralized operation, and governance independence. Additionally, the latest version v0.13.4 of Starknet has been launched on the testnet, bringing optimizations such as state compression, fixed L2 gas prices, and Cairo-native performance improvements, with plans to launch the mainnet between March 17 and 24. Future version v0.14.0 will introduce features such as 2-second block times, more efficient sorters, and improved fee markets.
The open-source crowdfunding platform Gitcoin on the Ethereum chain announced the details of six community rounds for GG23 on the X platform, which are: Regen Coordination, GoodDollar GoodBuilders, Token Engineering the Superchain Retro Round, Regen Rio de Janeiro, Gitcoin Grants Garden, and Web3 for Universities, with each round having approximately $21,000 in funding. Additionally, the application period for the open-source software project OSS Program is expected to be from March 17 to 31, with QF donation time expected from April 2 to 16.
According to ZKsync's official statement, the Ignite program will stop reward distribution on March 17 and will not launch a second season, due to a focus on the development of the Elastic Network, slow progress in interoperability technology, and market downturn leading to adjustments in funding strategy. Ignite has helped increase ZKsync Era's TVL to $270 million, and the team will optimize the token economic model and introduce new ecological incentive measures, with a related summary report to be released on March 30.
Layer 1 blockchain Cronos is facing strong opposition to a proposal to restore 70 billion CRO tokens that were burned in 2021. Early voting results on Mintscan show that 95.7% of participants voted against the plan. Voting is expected to end on March 17. Additionally, Cryptoslate reported that CRO advocate Wyll Bilderberg stated on the X platform: "Burning is burning; burned tokens should not be revived. I almost never oppose anything happening on Cronos, but today, I strongly oppose! If this bill passes, it will only confirm that Cronos is highly centralized and therefore untrustworthy." Previously, news indicated that Cronos proposed to reissue 70 billion burned tokens to "create a strategic reserve for Cronos."
Token Unlocks:
ApeCoin (APE) will unlock 15.6 million tokens at 8:30 PM Beijing time on March 17, accounting for 1.95% of the current circulating supply, valued at approximately $8 million.
Solv Protocol (SOLV) will unlock approximately 117 million tokens at 6:00 PM Beijing time on March 17, accounting for 7.93% of the current circulating supply, valued at approximately $5 million.
March 18
Project Updates:
Meta to launch community notes feature in the U.S. on March 18
Meta will launch the "community notes" feature in the U.S. on March 18, applicable to Facebook, Instagram, and Threads. This system draws on the crowdsourced fact-checking mechanism implemented by X (formerly Twitter) since 2021, aiming to enhance the transparency and scalability of information verification on the platform.
Initia to close wallet extension on March 18, users need to migrate testnet data in time
Layer 1 blockchain Initia officially announced that it will close its wallet extension service at 3:00 AM UTC on March 18 (11:00 AM Beijing time on March 18). Initia wallet users must complete the migration before this date; otherwise, they will not be able to access data on the testnet, including testnet Jennie and related data. Users can migrate their wallets via migration.initia.xyz.
Sui Foundation launches SuiNS RFP program, application deadline is March 18
The Sui Foundation announced the official launch of the SuiNS program, aimed at promoting impactful development and strengthening community collaboration to drive ecological development through direct funding for projects that meet Sui ecosystem needs and SuiNS growth. The application channel for the SuiNS RFP program is now open, and developers can submit their proposals, with the application deadline set for March 18, 2025, at 15:59 (UTC+8). After submission, the RFP committee will screen candidates and vote on the proposals that will receive funding. Selected developers must sign a funding agreement outlining the project's milestones, deliverables, and timelines, and develop according to the plan. Additionally, to maintain transparency and accountability, selected developers must undergo an identity verification process.
The Sui NS aims to provide users with a simple and easily recognizable identity that can be used within the Sui ecosystem, promoting more personalized and feature-rich interactions, further enhancing user experience and application functionality. The RFP (Request for Proposals) program aims to accelerate innovation within the Sui ecosystem, with each RFP defining a specific area of focus, encouraging developers to propose solutions and utilize funding to build these solutions.
Token Unlocks:
Fasttoken (FTN) will unlock 20 million tokens at 8:00 AM Beijing time on March 18, accounting for 4.65% of the current circulating supply, valued at approximately $79.8 million.
QuantixAI (QAI) will unlock approximately 566,000 tokens at 8:00 AM Beijing time on March 18, accounting for 3960.24% of the current circulating supply, valued at approximately $41.4 million.
Melania Meme (MELANIA) will unlock 26.25 million tokens at 8:00 AM Beijing time on March 18, accounting for 17.50% of the current circulating supply, valued at approximately $17.6 million.
March 19
Exchanges:
WazirX: Voting period for proposed restructuring plan set from March 19 to March 28
Indian crypto exchange WazirX announced on the X platform that the next key step is to vote on the proposed restructuring plan. Voting period: scheduled from March 19 to March 28, 2025. After asset rebalancing, if the majority of creditors vote in favor, approximately 85% of their account balances will be distributed to the plan creditors within 10 working days after the restructuring plan takes effect (valued as of 1:00 PM Indian Standard Time on July 18, 2024).
Project Updates:
Babylon extends airdrop registration deadline to March 19
The Babylon Foundation announced that due to some users completing airdrop registration recently, the registration deadline will be extended by 4 days to 4:00 PM Beijing time on March 19.
Core 2025 Game Hackathon will end on March 19
The Core Foundation officially launched the Core 2025 Game Hackathon, offering a prize pool of $380,000 to incentivize the development of innovative Bitcoin-based games. This hackathon will last four weeks, with participants building high-performance, decentralized games on the Core blockchain, exploring more possibilities for Bitcoin in the gaming field. Event duration: February 5 – March 19; total prize pool: $380,000 + additional developer incentives; track categories: casual games, social PvP games, puzzle games.
Token Unlocks:
Polyhedra Network (ZKJ) will unlock approximately 15.53 million tokens at 8:00 AM Beijing time on March 19, accounting for 25.72% of the current circulating supply, valued at approximately $31.8 million.
March 20
Macroeconomics:
March 20 (Thursday) 02:00, Federal Reserve FOMC announces interest rate decision and economic outlook summary
Exchanges:
Coinbase International will launch REZ, GRASS, and RARE perpetual contracts on March 20
Coinbase International announced on the X platform that Coinbase International Exchange and Coinbase Advanced will add Renzo, Grass, and SuperRare perpetual contracts, with new trading pairs: REZ-PERP, GRASS-PERP, and RARE-PERP. Trading will open at or after 5:30 PM Beijing time on March 20, 2025.
According to OKX's announcement, the platform will delist multiple trading pairs including XR, GOAL, KP3R, LBR, LAMB, BZZ, and GPT from 4:00 PM to 5:00 PM (Beijing time) on March 20, 2025, and has suspended deposits since 11:00 AM (Beijing time) on March 13. Users are advised to manage their assets as soon as possible. After delisting, any unfulfilled orders will be automatically canceled, expected to be completed within 1-3 working days. Starting from 4:00 PM (Beijing time) on June 20, 2025, the withdrawal function for the related tokens will be closed, and users must complete asset transfers before this date.
Project Updates:
BNB Chain recently launched the second round of a $4.4 million permanent liquidity program, expanding from the Meme track of the first round to all outstanding native project tokens on BSC (BNB Smart Chain). The aim is to strengthen the long-term development of the BNB Chain ecosystem by providing long-term liquidity support for high-potential projects. This round of competition will take place from March 13 to March 20, 2025, including daily and weekly competitions to select the most promising assets based on key performance indicators. Daily competitions will be divided into two categories: "Potential Explosion Zone" for market caps below $20 million and "Mature Zone" for market caps of at least $20 million. Each daily competition will last seven days, with one winning project selected from each zone daily. Rankings will be determined based on a comprehensive performance of trading volume, market cap, and price increase within 24 hours.
BNB Chain will conduct Pascal hard fork upgrade on March 20, supporting EIP-7702
BNB Chain will conduct a mainnet Pascal hard fork on March 20, 2025, to improve EVM compatibility and become one of the first public chains to adopt EIP-7702. This upgrade will introduce features such as gas abstraction, EOA wallet smart contract capabilities, and batch transactions, providing users with a smoother experience and greater flexibility for developers. Through the EIP-7702 proposal, BNB Chain will allow externally owned accounts (EOA) to temporarily possess smart contract functionalities during transactions while maintaining account security. This upgrade will significantly lower the barrier for users to enter Web3. For example, gas fee abstraction allows users to complete on-chain interactions without holding the native token for gas fees in their accounts; at the same time, it allows dApps to sponsor gas fees for users and implement batch transaction functionalities, enhancing the on-chain experience for users.
March 21
Policy and Regulation:
U.S. SEC cryptocurrency working group officially announces first roundtable meeting on March 21
The newly established cryptocurrency special working group of the U.S. Securities and Exchange Commission (SEC) will hold its first roundtable meeting later this month as part of a series of meetings. The SEC stated in a statement on Monday that the meeting, titled "Our Past and Future - Defining Securities Status," will take place on March 21 at the agency's headquarters in Washington, D.C. This roundtable is part of the "Spring Sprint for Clarity in Cryptocurrency" series of meetings. Republican Commissioner Hester Peirce, who leads the cryptocurrency special working group, stated in the announcement: "I look forward to leveraging public expertise to develop a workable regulatory framework for cryptocurrency." Peirce indicated that she plans to prioritize classifying some tokens as "non-securities."
It is reported that the guests of the SEC cryptocurrency working group's first roundtable meeting include Miles Jennings, General Counsel of a16z crypto and Delphi Ventures, and Sarah Brennan, General Counsel of investment firm Delphi Ventures.
Project Updates:
BNB Chain "TVL Incentive Program" extended to March 21 deadline
BNB Chain announced on the X platform that the TVL Incentive Program has been extended by one month, with the new deadline set for March 21, 2025.
Wemade's WEMIX token performance bonus dispute lawsuit to have next debate on March 21
A civil lawsuit has been initiated regarding the performance bonus payment issue of the virtual asset WEMIX (WEMIX) by the South Korean gaming company WeMade against approximately 20 employees. The Civil Division 42 of the Seoul Central District Court has held a preparatory meeting for the first debate on this case. The plaintiffs are former and current employees of WeMadeTree, a former subsidiary of WeMade, who claim to have signed a compensation agreement for WEMIX development with the company and provided emails as evidence of the company's commitment to compensation. However, WeMade denies the existence of any verbal agreement, only acknowledging that it informed employees about the basic compensation plan and pointing out that due to the lack of clarity in legal regulations and accounting standards for virtual assets, the company faces accounting uncertainties and risks of criminal breach of trust for management, thus failing to directly sign a compensation contract.
The trial division pointed out that the plaintiffs' defect lies in the lack of a written contract, but at the same time, it is unreasonable for the defendants to refuse to pay any compensation for this reason. The next debate in the case is scheduled for the morning of March 21. WeMade stated that it is willing to negotiate with company members to formulate a specific compensation agreement contract.
Token Unlocks:
Immutable (IMX) will unlock 24.52 million tokens at 8:00 AM Beijing time on March 21, accounting for 1.39% of the current circulating supply, valued at approximately $13.4 million.
March 22
Token Unlocks:
SPACE ID (ID) will unlock 7.849 million tokens at 8:00 AM Beijing time on March 22, accounting for 18.23% of the current circulating supply, valued at approximately $19.3 million.
March 23
Project Updates:
Ethereum Foundation extends application date for 2025 academic funding program to March 23
According to updates on the Ethereum Foundation's website, the application submission date for the 2025 academic funding program has been extended to 23:59 AoE time on March 23, with a total of $2 million available to support academic work related to Ethereum.
Token Unlocks:
Metars Genesis (MRS) will unlock 10 million tokens at 8:00 AM Beijing time on March 23, accounting for 11.87% of the current circulating supply, valued at approximately $97.4 million.
MANTRA (OM) will unlock 5 million tokens at 8:00 AM Beijing time on March 23, accounting for 0.51% of the current circulating supply, valued at approximately $32.8 million.
Murasaki (MURA) will unlock 10 million tokens at 8:00 AM Beijing time on March 23, accounting for 1.00% of the current circulating supply, valued at approximately $7.4 million.
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