The Pumpfun token auction and launch event originally scheduled for the end of June has been postponed again, now expected around mid-July. Insiders revealed that since Pumpfun planned to issue and auction tokens at the end of last year, there have been "countless delays." The valuation for this token auction is 4 billion USD, with the team actively pitching token allocations to various funds.The Ink Foundation announced plans to launch the INK token with a total supply of 1 billion tokens. The first use case centers around a liquidity protocol supported by Aave, with an airdrop for early participants.Eigen Labs launched EigenCloud, securing an additional 70 million USD investment from a16z. EigenCloud is based on the EigenLayer restaking protocol, integrating data availability, general-purpose computing, and dispute resolution mechanisms.Aptos was selected for the US WYST stablecoin program, ranking alongside Solana at the top. The ecosystem supports three types of USD stablecoins, with an average monthly trading volume exceeding 30 billion USD.The Lisk community plans to vote on burning 100 million tokens, valued at approximately 38 million USD. If approved, the total supply will decrease by 25%.Bybit CEO Ben Zhou announced that the first on-chain DEX, Byreal, will launch by the end of this month. It will be deployed on Solana, combining CEX liquidity with DeFi transparency, employing a hybrid routing of RFQ + CLMM.Fetch.ai CEO announced that the foundation will execute a 50 million USD buyback plan for FET tokens, supported by market makers.Infini card announced the official termination of services, suspending all card usage and new applications, with a future focus on wealth management and asset management business.Polyhedra released a preliminary report on the sharp price drop of the ZKJ token, involving on-chain liquidity attacks and concentrated sell-offs, with prices dropping over 80%. Long positions on platforms such as Bybit were liquidated.Reddit is considering introducing Sam Altman's iris verification system, World ID, to achieve anonymous yet unique user identity verification.

<div>1. Pumpfun Token Auction and Launch Postponed Again <a href="https://www.wublock123.com/index.php?m=content&amp;c=index&amp;a=show&amp;catid=6&amp;id=44309">link</a>The Pumpfun token auction and launch event, originally scheduled for the end of June, has been postponed again, now expected in mid-July. Insiders revealed that since Pumpfun planned to issue and auction tokens at the end of last year, there have been "countless delays." The valuation for this token auction is 4 billion USD. The Pumpfun team is also actively pitching token allocations to various funds.2. Ink Foundation Announces Plan to Launch INK Token <a href="https://x.com/inkfndhq/status/1934991370957033888">link</a>The Ink Foundation, based on the Optimism superchain Ethereum Layer 2 blockchain, announced plans to launch the INK token with a total supply of 1 billion tokens. The issuance date and other details will be announced separately. The first use case for the INK token will revolve around a liquidity protocol supported by Aave. Additionally, the INK token airdrop will target early participants of the liquidity protocol.3. Eigen Labs Launches EigenCloud, Secures Additional $70 Million Investment from a16z <a href="https://www.forbes.com/sites/digital-assets/2025/06/17/eigenlabs-redefines-ethereum-restaking-with-eigencloud-fueled-by-70m-from-a16z/">link</a>Eigen Labs announced the launch of EigenCloud, a platform designed to extend blockchain-level trust guarantees to any Web2 or Web3 application. The alpha test version released this week coincides with a new $70 million token purchase by a16z crypto, further deepening its commitment following a $100 million Series B investment in Eigen Labs in February 2024. EigenCloud is built on EigenLayer’s restaking protocol, integrating data availability, general computation capabilities, and dispute resolution mechanisms.4. Aptos Selected for US WYST Stablecoin Program, Tied with Solana at the Top <a href="https://x.com/Aptos/status/1936061489556996376">link</a>The Wyoming Stablecoin Authority in the United States announced that Aptos and Solana are jointly selected as the preferred blockchain platforms for the WYST project. WYST is a stablecoin issued by state governments in the US and backed by fiat currency, planning to deploy across multiple chains via LayerZero. Aptos stated that its ecosystem supports three types of USD stablecoins with a monthly average transaction volume exceeding $30 billion, offering sub-second confirmation and near-zero cost transaction experience.5. Lisk Community Proposes Voting to Burn 100 Million Tokens <a href="https://forum.lisk.com/t/should-100-million-lsk-of-the-dao-treasury-be-burned/416">link</a>The Ethereum Layer 2 network Lisk community has initiated a governance vote on whether to burn 100 million LSK tokens (valued at approximately $38 million) from the DAO treasury. These tokens were newly minted after migrating to the Ethereum ERC-20 standard and are currently unreleased. If the proposal passes, 100 million LSK will be permanently burned, reducing total supply by 25% to 300 million tokens; if rejected, these tokens will be released annually from 2027 to 2033. Voting starts on July 1, 2025, requiring at least 24 million LSK tokens in support or participation to reach quorum.6. Ben Zhou: Bybit’s First On-Chain DEX Byreal to Launch by End of This Month <a href="https://x.com/benbybit/status/1934105274975158614?t=f5itq8vTcU-U_ZxogobJ2Q&amp;s=19">link</a>Bybit CEO Ben Zhou announced that Bybit’s incubated first on-chain DEX project, Byreal, will launch by the end of this month on Solana.Byreal combines CEX-level liquidity with DeFi transparency, adopting an RFQ + CLMM hybrid routing to provide a low-slippage, MEV-resistant trading experience. In the future, it will also launch joint issuance projects between CEX and DEX.7. Fetch.ai CEO: The Foundation Will Execute a $50 Million FET Token Buyback <a href="https://x.com/HMsheikh4/status/1935611458403889217">link</a>Fetch.ai CEO Humayun Sheikh stated that as the usage of the ASI alliance and proxy platforms grows, the utility of FET continues to increase, and the market still undervalues its worth. He announced that the Fetch Foundation will initiate a $50 million FET token buyback program across multiple exchanges, supported by market makers.8. Infini Card Officially Announces Service Termination <a href="https://t.me/Infini_official/9/58659">link</a>On June 17, Infini Card announced its official service termination. The Global Card, Lite Card, and Tech Card will all be suspended for use and new applications. All users who have applied but are affected will receive automatic refunds of the actual card issuance fees paid. The company will focus on financial management and related areas in the future. Infini explained that discontinuing the to-C card business is due to extremely high compliance costs, very thin profit margins, and heavy operational burdens. Financial management and asset management will be the future focus, with a full embrace of decentralization going forward.9. Polyhedra Releases Preliminary Report on ZKJ Token Price Crash: Involving Liquidity Attack and Concentrated Sell-off <a href="https://x.com/PolyhedraZK/status/1934693057267683726">link</a>Polyhedra published a preliminary report on the ZKJ token price crash. Initial analysis shows the event was triggered by an on-chain coordinated liquidity attack on PancakeSwap. Multiple addresses withdrew over $7.70 million from the ZKJ/KOGE liquidity pool and conducted a concentrated sell-off of ZKJ, causing the price to plummet rapidly. The project team stated they did not sell tokens and had provided liquidity worth about $30 million in USDT, USDC, and BNB to PancakeSwap, but due to the price crash, all related assets have been converted into ZKJ. Concurrently, Wintermute transferred more than 3.39 million ZKJ to centralized exchanges, with its holdings dropping from 3.41 million to 22 thousand within 90 minutes. The ZKJ price fell from approximately $1.93 to $0.29, a drop exceeding 80%. During this period, platforms like Bybit saw about $94 million in ZKJ long positions liquidated, further exacerbating the decline.10. Reddit Considers Introducing Sam Altman’s Iris Verification System World ID <a href="https://www.semafor.com/article/06/20/2025/reddit-considers-iris-scanning-orb-developed-by-a-sam-altman-startup">link</a>Semafor reports that Reddit is negotiating with Tools for Humanity, co-founded by Sam Altman, to consider introducing its iris-scanning identity verification system World ID to enable an "anonymous yet unique" verification mechanism for platform users. This system generates an irreversible encrypted identity by scanning the user's iris, granting users a unique World ID. Neither Reddit nor Tools for Humanity has commented on the negotiations.</div>

Weekly Hot Project Updates: Pumpfun Token Auction Postponed Again, Eigen Labs Launches EigenCloud, Bybit's First On-Chain DEX to Go Live by Month-End, etc. (06/15–06/21)