Token Events

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.

Across Community proposed a new plan on March 12th to transform the existing "DAO + Token" structure into a U.S. C-corp company, holding the protocol's intellectual property rights. ACX holders can choose to exchange for equity or sell tokens for USDC at $0.04375 per share, with plans to execute within 6 months.

Backpack Exchange CEO Armani Ferrante announced during a live stream that the Backpack token's Token Generation Event (TGE) will take place on March 23, with a total supply of 1 million tokens, of which 62.5% will be allocated to users. Users who stake tokens can exchange for 20% of the company's equity after one year. This design aims to attract long-term investors and avoid selling pressure.

Gate News Report, March 12 — According to Onchain Lens monitoring, the WLFI team transferred 39.7 million WLFI tokens to a certain CEX, valued at approximately 4 million USD.

Sonic Labs launched US Sonic Dollar (USSD) on March 12 as the core liquidity layer. This stablecoin is built on Frax Finance's compliant infrastructure and supported by multiple institutions. It is pegged 1:1 to the US dollar and aims to enhance ecosystem yields while supporting cross-chain fee-free minting and flexible redemption.

The March 12 crypto market news includes the Backpack token TGE scheduled for March 23, Across Protocol exploring the exchange of ACX tokens for equity, FDIC Chairman stating that stablecoins will not be covered by deposit insurance, Hyperliquid crude oil contract trading volume nearing $1 billion, and more.

Gate News Announcement, March 12, Avantis announced on the X platform the launch of the AVNT token buyback and burn plan. According to the plan, Avantis will use 30% of the daily trading revenue (including opening fees, closing fees, and profit fees) to buy back and burn AVNT tokens on the open market. This mechanism is now officially in effect. Additionally, the official statement indicates that after future protocol efficiency upgrades, the buyback ratio is expected to increase to over 50%, with an expected implementation before the end of the second quarter of 2026.

Gate News Report, March 12 — U.S. major bank Wells Fargo has filed a cryptocurrency-related trademark application with the United States Patent and Trademark Office for the name WFUSD. According to the application documents, WFUSD will provide cryptocurrency payment processing, digital asset trading execution, and asset tokenization software services. The name suggests that it may be a deposit token or stablecoin. Previously in 2019, Wells Fargo disclosed plans to pilot an internal settlement service called "Wells Fargo Digital Cash" on its proprietary distributed ledger platform.

Ferra is an all-in-one DEX on the Sui blockchain, utilizing a dynamic liquidity layer and multiple AMM engines. It has completed $2 million in funding. Users can earn points through liquidity mining and trading to participate in airdrops. The project is simple and easy to operate, with low early participation costs and strong growth potential.

Backpack CEO Armani Ferrante announced during a Twitch live stream on March 11 that the token TGE is expected around March 23, with the exact date to be announced on March 12. Polymarket data shows a 100% probability that Backpack TGE will occur before the end of December and a 93% probability before the end of March.

Across Protocol proposes a temperature check initiative, planning to transform the existing DAO and token structure into a C Corporation in the United States. ACX token holders can exchange their equity proportionally or redeem for USDC, and holders can choose different participation methods based on their scale.

Osmosis plans to migrate its DEX to Cosmos Hub. If approved, native liquidity, governance, and security will be unified. Circulating OSMO will be converted to ATOM at a specific ratio within 6 months, without affecting existing staking emissions. Unclaimed ATOM will be returned to the community pool.

Gate News Announcement: On March 11, Strive announced the addition of $50 million worth of STRC to its corporate financial reserves.

Gate News Announcement, March 11th, the National Supercomputing Internet announced that all OpenClaw platform users will receive a free allocation of 10 million Tokens per person, limited to 2 weeks. On the same day, the Supercomputing Internet also announced that the renewal price for OpenClaw Tokens is 0.1 yuan per million Tokens, which is somewhat lower than the market average.

Ripple recently conducted its largest RLUSD burn, eliminating 10 million stablecoins from circulation shortly after minting 69 million. Additionally, Ripple secured an Australian Financial Services License to enhance its services and compliance in Australia.

After approving the proposal to limit the maximum supply of Aptos (APT) five days ago, this altcoin is now preparing for a new token unlock – a factor that could add volatility to the market. Although APT has experienced a slight increase of about 1% in the past 24 hours, the long-term outlook appears less positive as volume