12Ships Monthly Report: June 2021

3 min readJul 1, 2021

[Press Time: July 1st, 2021]

Industry News

Korean Regulatory Overhaul

On June 4, the Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC) held a meeting with leaders of domestic crypto exchanges. During this meeting, they conveyed a set of “recommended guidelines” for exchanges to maximize their chances of having their registration approved. On June 11, Upbit announced it would be removing the fiat on-ramps for five tokens. The exchange also posted a “watch list” of 25 tokens. On June 18, it delisted 24 of them. On June 17, Bithumb announced it will terminate trading for four tokens on July 5.

Tokens that have been delisted so far generally fall into one of the following categories: tokens that are listed on less than five exchanges, dark coins (privacy coins like Monero), tokens directly issued by exchanges, and tokens whose protocols are no longer being developed. Read More.


The Filecoin Network has performed a Network Upgrade to v13 HyperDrive happening at epoch 892800 around 22PM UTC June 30th. It resulted in two highly anticipated FIPs that will bring significant scalability improvements to Filecoin.

Project Update


  • An AMA took place in Gate telegram group chat on June 2, and the second TSHP Lock-up&Earn on the Gate.io platform was online from June 2 to June 8.
  • Since the Upbit’s notice is posted on June 11, the 12Ships team has published two statements on that:

12Ships Statement on the designation notice of Upbit.

12Ships Statement on Upbit Decision to Terminate Transaction Support.

  • Three TSHP BSC staking pools that we activated in May have matured on June 20, and all the progress has exceeded 100% over the Max Amount Limit.


  • Based on the proceeds of the Hansando pool in June 2021, 12Ships Foundation has decided to use $3,266 to buy back TSHP on the secondary market and permanently burn them. The TXID for the TSHP destruction will be publicly disclosed after completion.
  • 12Ships team has completed the buyback&burn of 777,110.24 TSHP in accordance with the 12Ships monthly report of May 2021, with 1.4 ETH (~$3,600).

TSHP Burn Txid: https://etherscan.io/tx/0xe680e644ac7d8da2704eaeb5d6421fe368626dd059584dd9ea0bdfa63557f9a5

  • 1/3 of our CoolDog001 miners will keep running with no impact, and 2/3 of them will be relocated to the new sites. We are inspecting some new mining sites out of Sichuan province (due to the Sichuan government’s crackdown on crypto mining)


  • On June 22, it was announced officially by the Protocol Labs team that 12Ships Foundation has been selected as the first Filecoin+ Granted Notary in Korea. Notaries are selected to serve as fiduciaries for the Filecoin Network and are responsible for allocating DataCap to clients with valuable storage use cases. 12Ships Foundation will target to support the storage clients in South Korea.
  • 12Ships team is working closely with the Filecoin team to develop a new protocol project in the Filecoin ecosystem, and to expand the Filecoin community in Korea.
  • The Filecoin nodes run by the 12Ships team have been all upgraded to v13 HyperDrive happening at epoch 892800 around 22PM UTC June 30th. And the nodes are not impacted by the Chinese regulatory crackdown on crypto mining.


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  • Members in Korean Community (Kakao): 553
  • Members in English Community (Telegram): 1367
  • Members in Chinese Community (WeChat): 260

About 12Ships

12Ships is a disruptive mining platform that utilizes revolutionary technology to transform the mining industry. Originating from South Korea, the platform strives to make it possible for ordinary users to mine by providing profitable and high-performance mining infrastructure. 12Ships insists on technology-driven development of a mining ecosystem, including ASIC mining products, Filecoin mining machines, mining pool, staking pool, etc.

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