Key Crypto Events in June

This month, several events will take place at once, which can affect both the cost of individual cryptocurrencies and the market as a whole. RBC Crypto.

June 6, 2023

Optimism (OP) – Mainnet update

The mainnet update of Optimism called Bedrock is scheduled for June 6, 2023 at 19:00 Moscow time. During the update, the blockchain will be stopped for approximately 2-4 hours. During this time, users will not be able to make transactions and other interactions with the blockchain.

Validation node operators need to update their software to the latest version to work with Bedrock. The Bedrock update aims to improve the security and resilience of the network. It is also expected that after the Bedrock update, commission costs will decrease by 47%.

June 8, 2023

Neon Protocol IDO on Coinlist

The IDO of the Neon Protocol project will take place on June 8 on the Coinlist platform, the sale of tokens will begin at 20:00 Moscow time. Neon Protocol is the first Ethereum virtual machine (EVM) on the Solana blockchain. The protocol will allow developers to create decentralized applications (dApps) compatible with the Ethereum network, while gaining access to fast and cheap transactions on the Solana network.

In total, 50 million NEON tokens (5% of the total supply) will be offered for sale at a price of $0.10 per token. The minimum and maximum redemption amounts are $100 and $500, respectively. It is planned that users will receive 100% of the NEON tokens purchased during the IDO on July 17 of this year. Registration for IDO Neon Protocol closes on June 5 at 15:00 Moscow time.

June 12, 2023

Vega Protocol (VEGA) – Staking reward reduction

The developers of the Vega Protocol project reported that starting from June 12, the reward for staking VEGA tokens is planned to be reduced. This will reduce inflation by reducing the issuance of the token.

Vega Protocol is a blockchain-based decentralized trading platform that allows users to create their own assets and act as both a market maker and a trader. The IDO of the project was held on the Coinlist site in early June 2021.

June 15, 2023

Archway project IDO on Coinlist

IDO Archway will take place on June 15, the start of the token sale at 20:00 Moscow time. The Archway project is a first-level blockchain using the Proof-of-Stake (PoS) consensus algorithm and powered by the Cosmos SDK. The goal of the project is to provide developers with a user-friendly platform that rewards them for creating decentralized universal (cross-chain) decentralized applications (dApps).

In total, 30 million ARCH tokens (3% of the total supply) will be offered for sale at a price of $0.20 per token. The minimum and maximum redemption amounts are $100 and $1000 respectively. It is planned that users will receive 25% of the redeemed tokens after 40 days of blocking, and the remaining tokens will be distributed evenly over the next 8 months. Registration in IDO Archway will close on June 12 at 15:00 Moscow time.

Unlocking Blur Tokens (BLUR)

NFT marketplace Blur will unlock 195.99 native BLUR governance tokens worth $101.8 million on June 15. Thus, more than 6.5% of the total supply of tokens will additionally enter the market.

June 16, 2023

Recognition of bitcoin as a means of payment in Brazil

On December 21, 2022, President Jair Bolsonaro signed a law that secures the status of a means of payment and an investment asset for the first cryptocurrency. This law comes into force 180 days after signing – June 16, 2023.

The Bank of Brazil will be responsible for and overseeing the use of bitcoin as a means of payment, while the Securities and Exchange Commission (SEC) will be responsible for overseeing the use as an investment asset.

June 30, 2023

Unlocking Optimism (OP) Tokens

The Optimism project will unlock 195.99 native OP Governance Tokens worth approximately $35 million at the June 2 exchange rate. This will amount to 0.56% of the existing tokens. Some of them will go to developers, some to investors.