This Week in Web3: Mekong Testnet, FTX Europe's Suspension, and HashKey's HSK Token Integration!
DeFi Planet
A digital publication on Web3 including Blockchain Technology, Cryptocurrencies, Decentralized Finance (DeFi) and so on.
The Ethereum Foundation recently launched the Mekong testnet on November 7, a short-term platform designed to give developers a hands-on experience with the upcoming changes in the Ethereum blockchain before the Prague-Electra (Pectra) upgrade. Named after the Mekong River flowing through Southeast Asian countries, Mekong acts as a playground for developers to test new features like UX enhancements, staking improvements, and deposit/exit processes.
Tim Beiko from the Ethereum Foundation hailed Mekong as a "pre-Devcon treat," aligning with the upcoming Devcon event in Bangkok. The testnet won't affect the mainnet or existing testnets but will gather feedback crucial for implementing the Pectra upgrade across broader Ethereum networks.
In other news, Cyprus has once again suspended FTX Europe's operations until May 30, 2025. This is the fourth extension since the platform was banned following FTX's bankruptcy in late 2022. FTX Europe cannot take on new clients or offer new services, but it continues to process withdrawals for existing users. Once a promising player in multi-asset trading, the platform now primarily functions as a portal for clients to manage their balances and withdrawals.
Meanwhile, HashKey Global has launched its native token, the HashKey Platform Token (HSK), marking a key milestone in its Web3 ecosystem strategy. Starting from November 7, users can deposit HSK, with trading set to begin on November 26. As both a native and gas token for HashKey Chain, HSK aims to enhance liquidity and support the token’s global reach. Ben El-Baz, the Managing Director, highlighted that HSK is not just a token but a strategic connector between Asian and international financial systems, aligning with HashKey’s vision for a compliant Web3 future.
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