This Week's Key News Preview | Ethereum to undergo Fusaka upgrade; Aztec launches token sale
Highlights of the week from December 1 to December 7.整理：Jerry，ChainCatcher
Key News:
- GiggleFund: Starting December 1, every Giggle transaction on Binance will reduce token supply
- Aztec Network will launch AZTEC token public auction on December 2
- Pandu Ether ETF will be listed on the Hong Kong Stock Exchange on December 3, allowing direct holding of ETH
- Dark Pool DEX HumidiFi will launch ICO on Jupiter on December 3
- Ethereum Foundation: The Fusaka upgrade is expected to activate on the mainnet at 05:49 Beijing time on December 4
- Upbit revises the scale of stolen funds to 44.5 billion KRW, approximately 30.43 million USD, Korean regulators will conduct on-site investigation until December 5
December 1 (Monday)
The dYdX community has approved a new proposal for the "Liquidation Rebate Pilot Program," which will start on December 1, 2025, for a duration of one month. This program will reward traders who experience liquidation events with points and rebates, up to a maximum of 1 million USD.
GiggleFund: Starting December 1, every Giggle transaction on Binance will reduce token supply
GiggleFund announced that due to Binance's latest update, starting December 1, 50% of the transaction fees from all Giggle trading pairs will be converted into Giggle tokens for donation to Giggle Academy and partially burned. This means that every transaction will reduce the token supply. This creates a positive feedback loop mechanism of continuous donations combined with ongoing token burns.
December 2 (Tuesday)
CME Group and CF Benchmarks will launch two new Bitcoin volatility indices on December 2
According to a press release, CME Group and CF Benchmarks announced plans to launch two new Bitcoin volatility indices on December 2: the CME-CF Bitcoin Volatility Real-Time Index (BVX) and the CME-CF Bitcoin Volatility Settlement Index (BVXS). These indices are based on market forward-looking indicators used to measure the expected volatility of Bitcoin prices over a fixed 30-day expiration period.
These indices are not tradable futures products, but they serve as transparent indicators reflecting the implied volatility in CME-regulated Bitcoin futures and micro Bitcoin futures contract options.
Aztec Network will launch AZTEC token public auction on December 2
The zero-knowledge privacy technology project Aztec announced the launch of the AZTEC token sale, with registration and bidding for early participants starting today (November 13) at 3 PM (CET). Early participants will have a one-day exclusive early access period before the public bidding opens. The public auction will take place from December 2 to December 6, 2025, during which the tokens can be withdrawn and staked.
There is no airdrop in this sale, nor is there a special allocation mechanism. Over 300,000 addresses have been whitelisted, granting them bidding eligibility on the first day. The sale is open to global users, including U.S. citizens.
Regarding the sale mechanism, the project stated that it will prioritize real-time price discovery and fair participation opportunities. The starting price is set at a fully diluted valuation (FDV) of 350 million USD, approximately 75% lower than the implied network valuation based on the latest equity financing. Participants can mint soul-bound NFTs to confirm their participation status.
December 3 (Wednesday)
Licensed virtual asset management service Pandu officially announced that its Ether ETF will be listed on the Hong Kong Stock Exchange on December 3, with the stock code 3085.HK. This ETF directly holds Ether and is benchmarked against the CME CF Ether USD Index (Asia Pacific closing price). Hong Kong investors can use their existing securities accounts to trade through cash or physical redemption methods, with a trading unit of 100 shares and a minimum subscription amount of 850 HKD.
Dark Pool DEX HumidiFi will launch ICO on Jupiter on December 3
According to official news, the dark pool DEX project HumidiFi (WET) will launch its ICO on the Decentralized Token Formation (DTF) platform on Jupiter on December 3, with specific ICO details yet to be disclosed.
Additionally, according to Defillama data, HumidiFi's trading volume in the past 24 hours reached 636 million USD, surpassing Raydium (511 million USD), Orca, and Meteora, becoming the largest DEX on the Solana network.
December 4 (Thursday)
Binance will remove multiple trading pairs including WAXP/BTC, SXP/BTC, ONT/BTC on December 4
Binance will remove the following leveraged trading pairs at 14:00 on December 4, 2025: cross-margin trading pairs WAXP/BTC, SXP/BTC, ONT/BTC, ID/BTC, ZRX/BTC, CHR/BTC, ENJ/BTC; isolated margin trading pairs WAXP/BTC, ONG/BTC, POWR/BTC, SXP/BTC, ONT/BTC, ID/BTC, AGLD/BTC, ZRX/BTC, CHR/BTC, ENJ/BTC, UMA/BTC. Users should note that the isolated margin lending business for the relevant trading pairs will be suspended at 14:00 on December 2, 2025, and automatic liquidation will occur at 14:00 on December 4, 2025.
The Ethereum Foundation released an announcement regarding the Fusaka upgrade, stating that the Fusaka network upgrade is scheduled to activate at Ethereum mainnet slot 13,164,544, expected at 21:49:11 UTC on December 3, 2025. This upgrade introduces a Blob Parameter Only (BPO) fork to safely scale blob throughput after the activation of PeerDAS.
The main feature of Fusaka is PeerDAS (Peer Data Availability Sampling), which can significantly enhance blob throughput. Fusaka also optimizes the execution layer and consensus layer to improve L1 performance and enhance user experience.
December 5 (Friday)
According to an afternoon update from Upbit, the scale of the leak related to Solana network assets has been revised from 54 billion KRW to 44.5 billion KRW (approximately 30.43 million USD); the scale of frozen funds on the Solana network has been revised from about 12 billion KRW to about 2.3 billion KRW (approximately 1.57 million USD).
Additionally, according to Korean media BlockMedia, following the security incident at Upbit, the Financial Supervisory Service's Virtual Asset Regulatory Bureau immediately conducted an on-site inspection of the platform. The Financial Supervisory Service stated, "We are aware of this hacking incident and are currently investigating the background of the hacker attack, the extent of the losses, and the measures taken to protect customer assets. We expect to continue the on-site inspection until next Friday (December 5)."
Risk warning
Risk warning
