Hi, community members. It’s Tylor from Blitz-Labs.
In this proposal, I will summarize the marketing activity in the Korean dHEDGE community in first half of June
- Share & post every article/post from dHEDGE’s Social accounts
- 24h Management (12:00~20:00 Active management)
- Community feedback collection
Korean community status
Total number of members - 905
- Delegation protocol projects such as dHEDGE
- Toros Finance
- $DHT Token Utility
- dHEDGE Service Operations
- Staking Pool
- Toros Finance, Spartan Space with Synthetix team [2.3k]
- Toros Finance Launches Escape Velocity [1.8k]
Domestic Law Bill News / Non-crypto Industry / Macro Trends
On June 16, the Korean government announced a moratorium on the taxation of virtual assets.
It was originally postponed from 2022 to 2023, but due to the postponement of taxation of financial investment income tax, it has been postponed to two more years later and will be taxed from 2025. The tax will be imposed at the rate of 20% on the excess income of more than 2.5 million won (USD 1,926) from investment in virtual assets.
On June 28, the Korea Financial Supervisory Service established the Virtual Asset Market Risk Council to prevent the recurrence of incidents such as the Luna crisis. Having included the virtual asset businesses and industry experts as well as the Financial Supervisory Service, the council will discuss and inspect the potential risks of the virtual asset. The Financial Supervisory Service stated that it plans to expand participating institutions such as research institutes and financial firms and regularly operate the council once a month.
Meanwhile, on June 16th, 32 types of P2E games distributed in the Korean market were notified of service cancellation by the Game Rating and Administration Committee. In principle, P2E is prohibited in the Korean market, but those games managed to find regulatory loopholes and deploy their services in the app market operators such as Google and Apple, which have their classification of ratings. However, the Game Rating and Administration Committee clarified that the decisions are not made to fully cancel their services, but rather to examine the game producers’ calling and determine their eligibility.
Korean Exchange / Cryptocurrency Company News
On June 8, LTC (Light Coin) was labeled as a “dark coin” and was delisted from the won market of Korea’s top five cryptocurrency exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax). Due to the addition of an anonymous transmission function following the MWEB network upgrade announced by the Light Coin Foundation in May, the exchanges have issued warnings on the possibility of breaching financial regulations such as money laundering. Additionally, LTC had been designated as stocks of concern by major Korean exchanges, starting with Bithumb on May 23.
On June 22nd, Korea’s top five exchanges established a joint consultative body named DAXA (Digital Asset Xchange Alliance) to respond to the second Terra-Luna crisis. Lee Seok-woo, who is the CEO of Upbit, was elected as chairman, and four major divisions were established within the consultative body: transaction support, market monitoring, compliance monitoring, and education. DAXA also revealed that it is planning to reorganize the secretariat and communicate with financial supervisory authorities for the smooth operation of the consultative body.
Meanwhile, Bithumb Meta, a subsidiary of a domestic exchange named Bithumb, applied for a trademark “NAEMO WORLD” to the Korean Intellectual Property Office on June 15th. Bithumb Meta plans to build an NFT platform and metaverse social platform business. In March, Bithumb Meta attracted a total of 9 billion won (approximately 7 million USD) in investment from SK Square, LG CNS, and CJ Olive Networks.
Like any other global crypto community, the Korean communities were also largely in panic. June was the month when many macroeconomic issues broke out, including the liquidation of Celcius and other related VCs. The community, while terrified by the scale of damage, actively shared the news about the Celcius incident and analyzed the background of the whole happening. With the ever-exacerbating inflation and the reveal of more tight-money policies, the Korean retail investors are continuously exposed to negative macroeconomic signs and hence in extreme fear.
Meanwhile, in early to mid-June, the floor price of Goblin Town surpassed 7 ETH, and Meme NFTs were on everyone’s lips. Goblin Town and other meme NFT projects soon captured the eyes of the retail investors, hinting that the meme NFT could be the next trend. However, shortly after the sudden uprise of Goblin Town, the users soon found out that the background information about Goblin Town developers was unclear and the grounds to support such high prices were unreasonable. Eventually, the floor price of Goblin Town fell to 3.1 ETH.
Lastly, dYdX’s decision to migrate to the cosmos ecosystem came as a big issue among the Korean KOLs. According to the announcement, dYdX, which occupies 85% of the DEX market share of derivative protocol, will develop its own L1 chain through Cosmos SDK and Tendermint in order to get close to the throughput required for the order book and matching engines. Since there have never been any projects migrating back from L2 to L1, the discussions have been held fervently on the direction of the blockchain industry and dYdX’s prospect.
Moderator - 2 Moderators (24hr management) - 500 USDC + 300 DHT
Content Creation - 2 Posts - 100 USDC + 30 DHT
Sub Total 600 USDC + 330 DHT
April Unpaid Amount 455 DHT
May Unpaid Amount 975 USDC + 445 DHT
Total 1575 USDC + 1230 DHT
Wallet Address : 0xf56A045f1d00bb76d84F4f5E1af09E3D63193F26