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Upcoming events this week: The US House Financial Services Committee will vote on cryptocurrency and stablecoin legislation; the NFT series auction between Christie's and Gucci will come to a close.

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Key events to look out for from July 24th to July 29th.

Selected Events:

1. The Federal Open Market Committee (FOMC) will hold a monetary policy meeting from July 25th to 26th, as announced by the Federal Reserve.

2. The snapshot time of the Maverick governance incentive plan is July 28th.

3.ChinaJoy Web3 Conference 2023 will be held in Shanghai on July 29th.

4. The US House Financial Services Committee will vote on cryptocurrency and stablecoin legislation on July 26th.

July 24th

Ethercluster service will terminate on July 24th, and relevant parties should migrate ETC mainnet and Mordor testnet endpoints.

Ethereum Classic has released an important announcement stating that its open-source cloud architecture, Ethercluster, based on Ethereum, will terminate services on July 24, 2023. This will affect all parties using the ETC mainnet and Mordor testnet Ethercluster endpoints, including wallet operators, exchanges, mining pools, and DApp developers. Ethereum Classic emphasizes that all parties involved should complete the migration of ETC mainnet and Mordor testnet endpoints before this date to ensure smooth business operations. Previously, Ethereum Classic had already changed the RPC URL of its mainnet from Ethercluster to Rivet and plans to migrate Ethercluster Mordor testnet endpoints to new endpoints.

Cryptocurrency financial company Delio will suspend some services and stop paying virtual asset interest to users on July 24th.

According to an official announcement, Delio, a South Korean cryptocurrency financial company, announced that it will suspend some services and stop paying virtual asset interest to users on July 24. Delio explained that in the seizure and search on July 18, all assets owned by customers and the company, as well as other cold wallets, account books, and more were confiscated by the prosecutor's office.

July 25th

Christie's and luxury brand Gucci's collaboration NFT series will end its auction on July 25th.

Christie's, the auction house with a history of 256 years, has partnered with luxury fashion brand Gucci to launch a series of digital art NFTs called "Future Frequencies: Explorations in Generative Art and Fashion". The auction will take place on Christie's 3.0 digital art platform, starting on July 18th and ending on July 25th.

The Federal Open Market Committee will hold a monetary policy meeting from July 25th to 26th.

The latest data from the FedWatch Tool, a monitoring tool of the Federal Reserve, shows that the market believes there is an 88.7% probability of the Fed raising interest rates by 25 basis points at the July meeting. The Federal Open Market Committee will hold a monetary policy meeting from July 25th to 26th.

July 26th

Decentralized stablecoin protocol Sable Finance will launch cIFO on PancakeSwap on July 26th.

According to official sources, the decentralized stablecoin protocol Sable Finance will launch cIFO on PancakeSwap from 20:00 to 22:00 on July 26th Beijing time. At that time, PancakeSquad NFT holders and point holders (≥1,000 points) can participate in the private placement, and users who lock CAKE in the CAKE Syrup pool can participate in the public sale. Sable Finance is a decentralized stablecoin protocol that uses BNB as collateral to issue Sablecoin (USDS), aiming to disrupt the DeFi ecosystem on the BNB Chain.

The US House Financial Services Committee will vote on cryptocurrency and stablecoin legislation on July 26th.

According to The Block, the US House Financial Services Committee will vote on cryptocurrency and stablecoin legislation on July 26. The legislation aims to create clearer pathways for digital assets to transition from securities to commodities, as well as a comprehensive framework for stablecoins.

Southeby's launches blockchain project "Gen Art Program" for emerging artists.

Sotheby's auction house is launching a blockchain project called "Gen Art Program" for generative artists. The Gen Art Program plans to auction the works of two to three generative artists on the blockchain each year. The first auction will be held on July 26th and will sell 500 works by generative artist Vera Molnár. The auction will be conducted entirely on the blockchain and will only accept ETH payments.

July 28th

Maverick governance incentive plan snapshot time is July 28th

According to the official blog, Maverick Protocol, a DeFi infrastructure provider, announced the full details of the Maverick ecosystem pre-season incentive plan, which includes a governance incentive plan for all veMAV holders within 30 days. veMAV holders will be eligible for governance bonus incentives. If MAV is pledged to obtain veMAV, they will be eligible for further voting incentives provided through the governance incentive plan.

The snapshot of the governance incentive plan will take place at 04:00 on July 28th Beijing time. All veMAV holders at the time of the snapshot will receive a proportional distribution of 10 million MAV based on their veMAV balance, which will be automatically staked for 4 years and provide them with more veMAV.