This week’s preview | Ethereum Goerli welcomes Dencun upgrade, $140 million INJ will be unlocked soon

Take a look at the most noteworthy industry events and important project progress in the coming week.

1. The Ethereum Goerli testnet will undergo Dencun upgrade on January 17, and Goerli will be deprecated after the upgrade.
2. Oral arguments for Coinbase’s motion for judgment against the US SEC were held on January 17.
3. Metis started community testing on January 15th.
4. The World Economic Forum is held in Davos, Switzerland.
5. Approximately $140 million INJ will be unlocked on January 21.

Web3 events this week (January 15-January 21, 2024) are not to be missed. The following picture is a preview of this week’s highlights:

Foresight News calendar is updated in real time, access updated and more complete Web3 events

Click here to subscribe to the Foresight News calendar

important events

Ethereum developers are scheduled to launch the Dencun upgrade on Goerli on January 17th, on Sepolia on January 31st, on the Holesky testnet on February 7th, and later on the mainnet. The Ethereum Goerli testnet will be deprecated after the Dencun upgrade on January 17.

Oral arguments for Coinbase’s motion for judgment against the U.S. Securities and Exchange Commission (SEC) will take place on January 17. Previously, the U.S. Securities and Exchange Commission accused Coinbase of violating state securities laws by selling 13 cryptocurrencies, which the agency believed constituted unregistered securities and failing to register its staking-as-a-service program. Coinbase argued that by taking the company public, the agency effectively signed away its core business and overstepped its reach due to a lack of congressional authorization.

Crypto lawyer James A. Murphy (aka MetaLawMan), on The claim is “reasonable”. Coinbase could also win a less likely victory, with a possible outcome in which a judge grants the motion regarding the tokens but denies the motion regarding the staking service.

Ripple Labs submitted an extension application to U.S. District Judge Sarah Netburn of the Southern District of New York, requesting that it be postponed until January 19 to respond to the U.S. Securities and Exchange Commission’s (SEC) motion to compel on January 11. Previously, Ripple’s response date was supposed to be January 17.

Project Progress

There are many projects worthy of attention this week, mainly focusing on project testing and airdrop methods:

• Aleo Network will conduct a second stress test on January 15 for two weeks;
• Metis started community testing on January 15; *ZKFair will start gas fee dividends on January 15th;
• T2T2 will conduct the second round of airdrop on January 15th;
• The PoS Layer1 privacy blockchain Namada testnet based on IBC started running on January 15;
• Bounce Brand will issue BOUNCE tokens at 00:00 on January 16;
• Paxos plans to expand stablecoin products to the Solana blockchain;

Upcoming Events

The World Economic Forum will be held in Davos, Switzerland from January 15 to 19, 2024. According to Financial News, several crypto companies are expected to appear, including Ripple, Circle, Coinbase, Stellar and Hedera.

Token Unlock

According to Token Unlocks data, from January 15th to January 21st, FLOW, APE, EUL, 1INCH, AXS, NYM, and INJ tokens will usher in one-time unlock nodes, among which:

• Injective token INJ will be unlocked at 08:00 on January 21 with 3.67 million coins (approximately $140 million), accounting for 4.33% of the circulating supply.
• 3.43 million Axie Infinity tokens AXS will be unlocked at 21:10 on January 18 (approximately $28.06 million), accounting for 2.53% of the circulating supply;
• ApeCoin token APE will unlock 15.6 million coins (approximately $22.78 million) at 08:00 on January 17, accounting for 4.23% of the circulating supply;

Voting Governance

Arbitrum has opened voting for the “Long-term Incentive Pilot Program” proposal. Voting ends on January 17. The proposal will distribute 25 million to 45 million ARB tokens to test new incentive designs and prepare for a long-term plan to distribute ARB to the Arbitrum ecosystem protocol within 12 weeks.

The AirDAO Council has passed the proposal of “Profits will be used to purchase burned tokens”, and the community will be able to track the proceeds and confirm that all proceeds generated will be used to purchase and destroy AMB. Voting for purchase proportions is currently ongoing, with the percentages offered being 0%, 25%, 50%, 75% and 100%. The AirDAO Council will invest half of the selected ratio in Aave and the other half in Compound. Voting will end at 12:00 on January 16th, Beijing time.