Token Events

VeChain's StarGate staking platform experienced significant growth post-Hayabusa fork, with a 50.2% reduction in VTHO emissions and a 93.9% increase in active stakers. The network now holds 10.7 billion VET, emphasizing the shift towards a delegation model and new entry-level node tiers which promote wider participation.

Gate News reports that on March 12, Backpack officially announced that it will hold a token generation event (TGE) on March 23.

Playnance's G Coin launches on March 18, aiming to facilitate transactions in its entertainment ecosystem, with over 200,000 holders and significant presale success. The token will support various digital platforms and operates on the PlayBlock blockchain.

Kraken plans to list PI as Pi Network advances recent protocol upgrades and moves closer to its March 12 upgrade deadline. PI is already listed on OKX, Bitget, HTX, and BitMart, while token unlocks beginning March 12 could increase near-term supply. Kraken has moved toward listing Pi Network

USD1 introduces real-time blockchain verification for stablecoin reserves, addressing transparency concerns following past failures. By utilizing oracle networks for continuous updates, it enhances trust while acknowledging inherent market risks. This approach could reshape stablecoin standards.

Brazilian investment platform XP launches dollar stablecoin USDXP, backed 1:1 by U.S. dollars held in international financial institution accounts. The stablecoin has been listed on the Clear platform and supports 24/7 trading, with potential expansion to other currencies in the future.

Gate News reports that on March 12, Centrifuge announced a final migration opportunity for CFG and wCFG holders who missed the original migration window last year. The team will review migration requests on a case-by-case basis, with a deadline of April 10. Holders must submit migration applications before the deadline.

Since its launch in early 2024, Pump.fun has generated $1.08 billion in revenue, becoming the first platform on the Solana blockchain to surpass the $1 billion mark. In 2024, its revenue reached $321.3 million, and its buyback program has repurchased approximately $323.4 million worth of PUMP tokens. However, the PUMP token price remains below its initial issuance price, and the platform has expanded to other blockchain networks.

Gate News reports that on March 12, decentralized contract exchange Grvt unveiled the complete tokenomics model for GRVT. The total supply of GRVT is 1 billion tokens, with the allocation plan as follows: investors account for 19.9%, team and core contributors account for 19%, community and airdrops account for 28%, and future allocation and rewards account for 33.1%. Additionally, Grvt announced that it will adjust the TGE (token generation event) for GRVT to the end of June 2026.

Ripple announces a $750 million XRP buyback program to boost market confidence in XRP price. On-chain data shows exchange XRP reserves have fallen to a 10-month low, suggesting long-term holding by investors. Technical analysis indicates XRP has modest upside potential, and the buyback program combined with supply tightening may serve as price support factors. Investors should pay attention to broader market changes.

Gate News Announcement: On March 12, the stablecoin USDS under the stablecoin protocol Sky reached a new all-time high, with a total issuance of approximately $11.2 billion.

The LITRO project aims to reshape the global energy trading system through blockchain technology and is expected to go live in 2027. The token will be 1:1 backed by real oil reserves, enhancing trading efficiency and lowering entry barriers. The project is currently in the early development stage and will collaborate with financial institutions in the future to build an intelligent logistics system, integrating digital assets with real-world energy.

On March 12th, on-chain data shows that the BitGo custodial wallet transferred 5 million TRUMP tokens to a certain CEX, valued at approximately $14.4 million, belonging to the TRUMP token team. This is part of the 32.5 million TRUMP tokens unlocked in early February, with 9.88 million tokens already transferred to the exchange.

Gate News Update, March 12 — According to Gate Market Data, as of press time, HYPE (Hyperliquid) is trading at $37.28, up 7.80% in the past 24 hours. The highest price reached $37.42, while the lowest dipped to $29.53. The 24-hour trading volume is $446 million. The current market capitalization is approximately $9.595 billion, an increase of $694 million from yesterday. Hyperliquid is a high-performance blockchain focused on finance, designed to unify various financial applications within the crypto ecosystem. Its core application is a decentralized exchange offering zero gas fees, up to 40x leverage trading, and fully on-chain order books. Hyperliquid L1 features a block time of 0.07 seconds and a maximum of 200,000 transactions per second.

MetaDAO announces that the RNGR liquidation snapshot will be conducted on March 13th. Users are advised to withdraw their tokens to their personal wallets. The liquidation portal will go live on March 17th, with detailed information to be announced beforehand. The proposal to liquidate Ranger Finance was previously approved through voting.

Pi Network's mainnet migration briefly restarted on March 10, with approximately 85,000 Pi successfully transferred, but was subsequently paused. The circulating supply is 9.66 billion coins, still far from the 100 billion cap. Over 17.7 million users who completed KYC are awaiting token migration. There is a risk of scams during the migration period, and users should be cautious about security. The protocol v20.2 mandatory upgrade deadline is March 12; failure to upgrade will result in network disconnection risks.

Pi Network has moved up the deadline for upgrading to version v20.2 to March 12, requiring mainnet nodes to complete the upgrade before the deadline or face disconnection. This move coincides with a 50% surge in PI token price. Analysts are cautious about the sustainability of the rally due to the closed mainnet limiting liquidity. Version v20.2 emphasizes enhanced KYC and biometric verification to improve platform security and compliance.

Risk Labs proposes "The Bridge Across" plan, transforming the ACX token into a U.S. C Corporation, offering two options: equity exchange or repurchase at $0.04375. Holders can exchange shares proportionally or sell tokens to receive USDC. The proposal aims to enhance legal contract signing capabilities, facilitate institutional cooperation, and maintain normal operations during the transition period.

Gate News Announcement, March 12 — Backpack has confirmed that the TGE will take place around March 23. Real-time betting data from a prediction platform shows that the probability of Backpack's TGE first-day FDV exceeding $300 million is about 68%, and the probability of exceeding $500 million is 33%. Backpack CEO Armani Ferrante previously stated during an official Twitch live stream that the token TGE date is approximately March 23.

Gate News bot message, Tether has burned $1 billion USDT on the Tron network after a month. The large-scale token destruction operation was completed on the Tron blockchain.