Weekly preview | Usual Protocol plans to enable the revenue switch function; Ondo (ONDO) and other tokens will usher in large-scale unlocking

News preview:

• After USD0++ is depegged, Usual Protocol plans to activate the revenue switch function on January 13 to stabilize its ecosystem;
• Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8:00 a.m. Beijing time on January 13, worth approximately $169 million;
• Shiba Inu ecosystem token TREAT will be launched on January 14;
• Degen will carry out a liquidity mining airdrop plan on January 15;
• Ethena: Derive (DRV) will be launched on January 15th;
• In the U.S. Securities and Exchange Commission (SEC) v. Ripple case, the court required the SEC’s litigation brief to be filed on or before January 15, 2025;
• The crypto industry will hold a ball on January 17 to celebrate the inauguration of Trump and Vance;
• Ondo (ONDO) will unlock approximately 1.94 billion tokens at 8:00 am Beijing time on January 18, accounting for 134.21% of the current circulation, with a value of approximately US$2.41 billion.

January 13

Project dynamics:

After USD0++ is depegged, Usual Protocol plans to activate the revenue switch function on January 13 to stabilize its ecosystem

Usual, the issuer of RWA stablecoin, announced on the X platform that it has realized that its pledged stablecoin USD0++ has caused a huge reaction from the community due to its sharp decoupling from $1, so it will launch a series of measures to address user concerns and stabilize the ecosystem. It is reported that its "Revenue Switch" function is planned to be launched on January 13, allowing Usual Protocol to share its revenue from real-world assets and protocol operations with the community. The team expects monthly revenue of approximately US$5 million, with an annual return rate of more than 50% under current conditions. These distributions will be made weekly to consolidate the actual value of USUAL and balance its economic model and the revenue generated by the protocol.

(Note: In Usual's yield switch function, when more than 50% of USUAL tokens are staked as USUALx, the yield switch will be officially enabled. If the requirements are not met, it will be automatically activated on February 1, 2025. Once enabled: 100% of the income (up to US$5 million per month) will flow to USUALx stakers in the form of USD0.) In addition, the Usual Protocol team also stated that it will launch the "1:1 early unstaking" function next week, allowing users to redeem USD0++ at an exchange rate of US$1, but requiring them to give up part of their accumulated rewards as a penalty.

Token unlocking:

Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8:00 am Beijing time on January 13, worth approximately $169 million

Polyhedra Network (ZKJ) will unlock approximately 17.22 million tokens at 8:00 am Beijing time on January 13, accounting for 28.52% of the current circulation, with a value of approximately US$33.2 million.

World Mobile Token (WMTX) will unlock approximately 16.04 million tokens at 8:00 am Beijing time on January 13, worth approximately US$6.4 million

CYBER (CYBER) will unlock about 886,000 tokens at 10:00 pm Beijing time on January 13, accounting for 3.81% of the current circulation, with a value of about US$2.7 million.

Covalent X Token (CXT) will unlock approximately 26.9 million tokens at 8:00 am Beijing time on January 13, accounting for 2.99% of the current circulation and worth approximately US$2.5 million.

Moonwell (WELL) will unlock approximately 38.54 million tokens at 8:00 am Beijing time on January 13, accounting for 1.23% of the current circulation and worth approximately US$1.8 million.

January 14

Policy supervision:

South Korean court to hold first debate in Yoon Seok-yeol impeachment trial on January 14

South Korea's Constitutional Court: The first debate in Yoon Seok-yeol's impeachment trial will be held on January 14.

Encode urges court to block OpenAI's transition to a for-profit entity, hearing set for January 14

Mario Nawfal, founder and CEO of IBC Group, said on the X platform that Encode, a youth-led organization, has filed a powerful amicus brief urging a federal court to block OpenAI from converting to a for-profit entity, warning that such a move could expose humanity to existential risks posed by artificial intelligence for the sake of investor returns. Experts including Nobel laureate Geoffrey Hinton and artificial intelligence pioneer Stuart Russell supported the motion, arguing that converting to a for-profit institution would undermine safeguards designed to ensure that advanced artificial intelligence is consistent with public safety. "OpenAI's nonprofit mission is more than a promise - it is humanity's lifeline. Turning it into a profit machine would put everyone at risk," said Encode President Sneha Revanur. A court hearing in the case is scheduled for January 14.

Project dynamics:

Shiba Inu Ecological Token TREAT will be launched on January 14

Shiba Inu Ecological Token TREAT announced its launch date as January 14. Earlier in April last year , the Shiba Inu team raised $12 million by selling unissued TREAT tokens to non-US venture capital investors to develop its new privacy-focused Layer3 blockchain. According to Shiba Inu, the TREAT token is the "utility and governance token" of its new privacy-focused Layer3 blockchain, which is built on the Ethereum Layer2 blockchain Shibarium.

Renzo launches BNSOL re-staking token bzSOL, minting will start on January 14

Renzo Protocol announced the launch of the re-staking token bzSOL. Users can stake SOL or BNSOL for minting. Minting will start at 8:30 a.m. Eastern Standard Time on January 14 (21:00 Beijing Time on January 14) and will last for 24 hours.

It is reported that the first service that bzSOL will protect is the Jito Tip router, and users will receive additional re-staking rewards, which will be automatically compounded into BNSOL.

Decentralized AI platform Nodepay: The first airdrop will be carried out on January 14

Nodepay, a decentralized AI training and development platform, announced on the X platform that the first airdrop will be conducted on January 14. According to the document, Nodepay airdrop allocated a total of 115,000,000 Nodecoin (NC), accounting for 11.5% of the total supply.

According to previous news, Nodepay launched the final airdrop query, and users can query the token distribution of seasons 0, 1 and 2.

BNB Chain Season 9 MVB Program Applications Will End on January 14 (UTC+8)

BNB Chain has opened the application for the ninth season of the MVB program. BNB Chain is committed to promoting AI innovation in Web3, with AI First as the core focus. MVB9 aims to attract more projects and developers that combine AI scenarios to jointly build an AI First BNB Chain. Projects in application and middle-layer categories such as DeFi, DeSci, games and social networking are also welcome to participate, and all kinds of exploration and innovation combined with AI scenarios are encouraged. The MVB (Most Valuable Builder) acceleration program is jointly organized by BNB Chain, Binance Labs and CMC Labs. It is a 4-week incubation project aimed at supporting the growth of BNB Chain ecological projects. The application deadline for the ninth season of MVB is January 13, 2025 at 11:59 PM UTC.

Token unlocking:

Biconomy (BICO) will unlock approximately 7.5 million tokens at 8:00 a.m. Beijing time on January 14, accounting for 0.82% of the current circulation and worth approximately $2.1 million.

January 15

Policy supervision:

Progress in the US SEC v. Ripple case: The court requires the SEC's litigation brief to be submitted on or before January 15, 2025

Former U.S. federal prosecutor James K. Filan said on the X platform that in the U.S. Securities and Exchange Commission (SEC) v. Ripple case, the Second Circuit Court of Appeals has issued an order requiring the SEC's litigation brief to be filed on or before January 15, 2025.

Project dynamics:

Ethena: Derive (DRV) to be launched on January 15

Ethena posted on the X platform that Derive (DRV) will be launched on January 15, and 5% of the supply will be allocated to sENA stakers.

Degen: Liquidity mining airdrop is scheduled for January 15

Degen announced on the X platform that the liquidity mining airdrop is scheduled to take place on Wednesday, January 15th, UTC time, and the snapshot will last until the end of January 14th.

Alliance launches online hackathon Sprint, registration application will close on January 15

Alliance announced the launch of its first online hackathon Sprint, where the winner will have the opportunity to receive $450,000 in investment, and registration applications will close on January 15th.

The Korean movie "Crypto Man" will be released on January 15, 2025

The South Korean film "Crypto Man" will be released on January 15, 2025. The film is inspired by a cryptocurrency crash in South Korea that caused losses of more than 50 trillion won (about 34.9 billion U.S. dollars). Director Hyun Hae-ri said that the film strives to present the events truthfully and incorporate elements of black humor. The film stars the late actor Song Jae-rim, who died at home in November 2024 and was ruled to have committed suicide. In the film, Song plays entrepreneur Yang Daoxian, who developed a token called "MOMMY" that was a great success in the early days, but then fell into trouble due to regulatory issues. The film focuses on the younger generation of Koreans' obsession with stocks and cryptocurrencies.

Token unlocking:

Connex (CONX) will unlock approximately 4.33 million tokens at 8:00 am Beijing time on January 15, accounting for 376.3% of the current circulation, with a value of approximately US$85.8 million.

Starknet (STRK) will unlock approximately 64 million tokens at 8:00 am Beijing time on January 15, accounting for 2.65% of the current circulation, with a value of approximately US$27.6 million.

Sei (SEI) will unlock approximately 55.56 million tokens at 8:00 pm Beijing time on January 15, accounting for 1.32% of the current circulation and worth approximately US$21.5 million.

Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 pm Beijing time on January 15, accounting for 0.42% of the current circulation, with a value of approximately US$11.8 million.

Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 am Beijing time on January 15, accounting for 0.61% of the current circulation and worth approximately US$4.1 million.

January 16

Token unlocking:

Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9:00 pm Beijing time on January 16, accounting for 2.20% of the current circulation and worth approximately US$67.8 million.

January 17

Project dynamics:

Eternal AI will launch the first "on-chain" PFP series CryptoAgents for AI agents, and will announce the details of Mint on January 17

Eternal AI will launch the first “on-chain” PFP series CryptoAgents for AI agents. These on-chain pixel art images are inspired by CryptoPunks and designed specifically for AI agents. Mint details will be announced on January 17th.

Community Activities:

Voting for the 5th PANews PARTY AWARD will close on January 17

The PANews PARTY AWARD 2025 annual selection event will open online voting for 30 days from December 18, 2024 to January 17, 2025. Nearly 300 projects and individuals have entered the voting stage of this selection through data screening, public registration and community recommendation. 22 authoritative annual awards will be selected, and the final results will be announced on January 22. PARTY means PANews' Restropect of The Year. The event has been held for five consecutive years and has attracted the active participation of Web3 entrepreneurs and high-quality projects around the world. This year's selection will be themed "Becoming Mainstream", aiming to discover and commend those Web3 projects, teams and individuals who continue to build and strive to bring the industry into the mainstream vision. Click the original link or the picture below to participate in the voting.

Crypto Industry to Hold Ball on January 17 to Celebrate Trump and Vance Inauguration

The crypto industry will host an inaugural ball on January 17 to celebrate the inauguration of Trump and Vance. The event will be hosted by BTC Inc. and Stand With Crypto and will be held at 8:00 pm local time on Friday, January 17, 2025 at the Andrew W. Mellon Audit Building in Washington, DC, with tickets priced at $2,500 each.

Token unlocking:

ApeCoin (APE) will unlock approximately 15.6 million tokens at 8:30 pm Beijing time on January 17, accounting for 2.16% of the current circulation and worth approximately US$17.3 million.

Echelon Prime (PRIME) will unlock approximately 750,000 tokens at 8:00 am Beijing time on January 17, accounting for 1.42% of the current circulation and worth approximately US$9.6 million.

Fusionist (ACE) will unlock approximately 1.8 million tokens at 8:00 am Beijing time on January 17, accounting for 3.95% of the current circulation, with a value of approximately US$3.3 million.

OmniFlix Network (FLIX) will unlock approximately 15.31 million tokens at 8:00 am Beijing time on January 17, accounting for 3.66% of the current circulation and worth approximately US$1.5 million.

January 18

Token unlocking:

Ondo (ONDO) will unlock approximately 1.94 billion tokens at 8:00 am Beijing time on January 18, accounting for 134.21% of the current circulation, with a value of approximately US$2.41 billion.

UXLINK (UXLINK) will unlock approximately 26.56 million tokens at 8:00 am Beijing time on January 18, accounting for 15.63% of the current circulation and worth approximately US$33.2 million.

QuantixAI (QAI) will unlock approximately 232,000 tokens at 8:00 am Beijing time on January 18, accounting for 4.79% of the current circulation, with a value of approximately US$19.6 million.

Cloud (CLOUD) will unlock approximately 48.92 million tokens at 11:00 pm Beijing time on January 18, accounting for 27.18% of the current circulation and worth approximately US$8.5 million.

QuantixAI (QAI) will unlock approximately 232,000 tokens at 8:00 am Beijing time on January 18, accounting for 4.79% of the current circulation, with a value of approximately US$19.6 million.

Hatom (HTM) will unlock approximately 2.55 million tokens at 8:00 am on January 18th (Beijing time), accounting for 5.70% of the current circulation and worth approximately US$2.5 million.

January 19

Token unlocking:

Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8:00 am Beijing time on January 19, accounting for 1.89% of the current circulation and worth approximately US$1.5 million.