Daily Report | X Layer completes PP upgrade and launches OKB Gas Token economic model optimization; Bullish raises $1.1 billion in IPO
Highlights of August 13整理：Jerry，ChainCatcher
Important News:
- Binance Wallet to Launch Reveel (REVA) Pre-TGE and Booster Events
- Bullish Raises $1.1 Billion in IPO
- On-chain US Stock Trading Platform MyStonks Accused by Users of Withdrawing Refusal and Alleged Fund Transfer
- OKB Burn and Upgrade Schedule: One-time Burn on August 15, Smart Contract Upgrade on August 18
- X Layer Completes PP Upgrade and Launches OKB Gas Token Economic Model Optimization
- Binance Alpha to Launch TCOM Global (TCOM) on August 15
- Binance Alpha to Launch PublicAI (PUBLIC) on August 15
- CMB International's "Hong Kong-New Mutual Recognition Fund" Completes Tokenization, Becomes the World's First Public Fund Based on Solana
"What Important Events Happened in the Last 24 Hours"
Binance Wallet to Launch Reveel (REVA) Pre-TGE and Booster Events
According to the official announcement, Binance Wallet will launch the Reveel (REVA) Pre-TGE and Booster events on August 14, 2025, at 19:00.
Pre-TGE Event: Eligible users can subscribe to REVA tokens before they are officially tradable.
Booster Event: By completing phased tasks and providing support in the early stages of the project, users can share an additional 40,000,000 REVA airdrop rewards.
In the Pre-TGE event, users can subscribe to Reveel's REVA tokens within the Binance Wallet. This subscription uses an oversubscription model, where each user can deposit a maximum of 3 BNB, and token allocation will be calculated based on the proportion of BNB deposited by all participants. After the subscription ends, users can claim their allocated REVA tokens on the "Assets" page, and any unused BNB will be automatically refunded.
Bullish Raises $1.1 Billion in IPO
According to Bloomberg, digital asset trading platform Bullish raised $1.1 billion through its initial public offering (IPO), with an issue price of $37 per share, higher than the previous range of $32 to $33. The IPO was oversubscribed by more than 20 times, with a market capitalization of $5.4 billion.
BlackRock and ARK Investment Management intend to collectively subscribe for $200 million in shares. Bullish is led by former NYSE president Tom Farley as CEO, primarily serving institutional clients, with the largest shareholder being Block.one CEO Brendan Blumer (holding 30.1%). The company will be listed on the NYSE under the ticker BLSH.
X user @thcaroline2233 revealed that approximately $6.2 million in funds in their MyStonks account could not be withdrawn. The user stated that they had deposited over $7 million into the platform through Binance and successfully withdrew a total of about $1.18 million on July 22, August 11, and August 12. However, when they subsequently applied to withdraw $3.6 million, $2.6 million, and $230,000, the platform requested additional materials, citing "triggering risk control."
The user claimed that after submitting the materials, they received no substantial response and were muted in the official Telegram group when mentioning withdrawal issues, with no progress in communication with platform customer service or via email. They also stated that friends had informed them that the relevant funds might have been dispersed.
Currently, the user has made their deposit, withdrawal addresses, and some transaction records public, urging other investors to be wary of the potential risks of the platform. MyStonks has not publicly responded to this matter.
OKB Burn and Upgrade Schedule: One-time Burn on August 15, Smart Contract Upgrade on August 18
According to an official announcement from OKX, the specific schedule for the completion of the PP upgrade and the launch of the OKB Gas Token economic model optimization for X Layer (Beijing time) is as follows:
August 13, 2:10 PM: OKT will stop trading on the OKX platform, while OKTChain will continue to produce blocks and process on-chain transactions.
August 13, 3:00 PM: The OKX platform will stop allowing OKB withdrawals to ETH L1.
August 15, 10:00 AM: The platform will automatically convert users' OKT in their accounts to OKB according to the rules.
August 15, 2:00 PM: A one-time burn of OKB will occur, and the smart contract will be called for on-chain burning.
August 18, 2:00 PM: The OKB Smart Contract will be upgraded, removing the functions of issuance and burning.
X Layer Completes PP Upgrade and Launches OKB Gas Token Economic Model Optimization
According to official news, OKX has decided to conduct a strategic upgrade of X Layer, transforming it into a leading public chain focused on DeFi, payments, and RWA scenarios. X Layer is built on the Polygon CDK and completed the "PP upgrade" on August 5, 2025, enhancing network throughput to 5000 TPS, reducing gas costs to nearly zero, and significantly improving security and compatibility with the Ethereum mainnet. The upgrade will also promote ecological construction, focusing on DeFi, global payments, and RWA issuance and circulation, accelerating application landing through ecological funds, liquidity incentives, and infrastructure improvement. OKX Wallet, OKX Exchange, and OKX Pay have fully integrated with X Layer, providing 0 Gas fast withdrawals and efficient on-chain payment experiences.
This upgrade is also accompanied by the optimization of the OKB Gas Token economic model, with OKB continuing to serve as the only Gas and native token for X Layer. OKX will conduct a one-time burn of 65,256,712.097 OKB from historical repurchases and reserves, and after completion, will upgrade the OKB smart contract to remove the functions of issuance and manual burning, fixing the total issuance at 21 million. Users holding the Ethereum L1 version of OKB need to recharge their assets to OKX and complete the chain swap through "Withdraw to X Layer." Meanwhile, OKTChain will be phased out, stopping trading on OKX from August 13, 2025, at 14:10 (UTC+8), and will periodically convert OKT to an equivalent amount of OKB based on the average closing price from July 13 to August 12, with on-chain OKT conversions supported until January 1, 2026.
Binance Alpha to Launch TCOM Global (TCOM) on August 15
According to the official announcement, Binance Alpha will launch TCOM Global (TCOM) on August 15.
Eligible users can visit the Alpha event page to use Binance Alpha points to claim airdrops after Alpha trading opens. Specific details will be announced separately.
Binance Alpha to Launch PublicAI (PUBLIC) on August 15
According to the official announcement, Binance Alpha will launch PublicAI (PUBLIC) on August 15. Eligible users can visit the Alpha event page to use Binance Alpha points to claim airdrops after Alpha trading opens. Specific details will be announced separately.
CMB International, in collaboration with DigiFT and OnChain, has completed the tokenization of its Hong Kong-New Mutual Recognition Fund on the Solana chain, with the token code CMBMINT. Furthermore, this is the world's first public fund based on Solana.
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Bullish IPO: Why Is Its Valuation Less Than 10% of Coinbase's?
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Meme Hot List
According to the meme token tracking and analysis platform GMGN, as of August 13, 19:50:
The top five popular Ethereum tokens in the past 24 hours are: LINK, SPK, LIZARD, MHRD, Tokabu
The top five popular Solana tokens in the past 24 hours are: FIRE, ORANGE, SPILL, FUN, BCWH
The top five popular Base tokens in the past 24 hours are: ZORA, SLAP, NAKA, BONZI, RUFF
Risk warning
Risk warning
