LayerThird

I am writing about an interesting project that I came across today. It is still in the testnet phase and has many shortcomings but I wanted to write a summary. The project is called Caldera.

What is Caldera?

Caldera specializes in creating high-performance, customizable, and application-specific layer 2 solutions. These specially designed blockchains (Caldera Chains) offer high transaction volume, low latency, and customizable opportunities to optimize the performance and user experience of decentralized applications. They have features such as processing hundreds of transactions per second and confirming them in seconds. Caldera Chains offer high customization options, especially with features such as address whitelist application or sustainable value creation. Additionally, they are Ethereum-compatible blockchains that can operate without the need to modify standard Ethereum smart contract code.

Caldera can deploy a rollup on the chosen chain (Ethereum, Polygon, Optimism, Arbitrum, etc.) with desired parameters. What needs to be done is integrating our application with Caldera. Moving Ethereum applications to Caldera chain usually takes about half an hour, and they also offer assistance in this regard.

TO CREATE YOUR OWN TESTNET:

Click on "login" and follow the steps:

1- Enter your email and confirm the email you receive. After clicking the link, we will return to the Caldera page and perform the following steps:

2- Enter the name of your Rollup.

3- Enter the Chain ID.

4- Click Launch Rollup.

The process usually takes about 5 minutes, but it cannot be done at the moment. Only their own testnet is funtional. Normally, if we could set it up, we could use our test chain for 12 hours. However, those who wish can try their own testnets.

CALDERA DESIGN STRUCTURE

The "EVM Settlement Layer" refers to a layer on the Ethereum network. This layer operates on the Ethereum Virtual Machine (EVM) and enables the verification and confirmation of transactions on the Ethereum network. Caldera Chains can work on all EVM-compatible chains. Most Caldera Chains have been implemented on Ethereum L1 or Polygon, but Binance Smart Chain, Aurora, Avalanche, Evmos, and most other EVM chains are also supported. To ensure the integrity and security of our platform, error proofs are placed on the chain to provide a verifiable record of all transactions and interactions.

The "Data Availability Layer" refers to a layer used on the Ethereum network. This layer manages the storage and sharing of transaction data on the Ethereum network and helps to increase its scalability. Caldera Chains use a unique architecture that separates the execution layer from the data access layer. This provides flexibility for users to directly send transaction data to the EVM settlement layer (Ethereum, Polygon, etc.) or to a private data access layer (such as Eigenlayer or Celestia), depending on their specific requirements and preferences. This design approach provides advanced scalability, security, and flexibility in managing data and transaction costs in Caldera Chains.

بروتوكول Lifinity عبارة عن بورصة لامركزية تهدف إلى تحسين كفاءة رأس المال وتقليل الخسارة غير الدائمة. وتحقق هذا الوعد من خلال تنفيذ استراتيجيات معينة مثل تركيز السيولة واستخدام أوراكل لصناعة السوق الاستباقية وتنفيذ آلية إعادة التوازن. بورصة Lifinity مدفوعة بالمجتمع وتهدف إلى توفير طريقة أكثر كفاءة وفعالية للمستخدمين لتداول العملات المشفرة.

أولاً، دعنا نسلط الضوء بإيجاز على بعض الأشياء المملة... مخيفة، أليس كذلك؟ لا تقلق، Lifinity تجعل الأمر بسيطًا ☺

Bluefin, previously known as Firefly and having received a $6.4M investment in 2021, only allows BTC and ETH perpetual trading on its platform. The project announced its beta launch on the Arbitrum network last month and is now actively available for use. After reaching the EVM-based community, the project also announced that it will launch on the SUI network as they aim to achieve high transaction capacity to compete with centralized exchanges like Binance.

The project has also announced an ambassador program. You can apply from their website.

After a brief summary, I will move quickly to the how-to-use part without going into too much detail.

HOW TO USE?

First, we connect the wallet and give approval to the Bluefin API. We do this with a newly opened wallet because there is always a possibility of financial loss for various reasons. In short, the risk of fraudulent or rugpull teams and smart contracts.

According to the numbering in the visual below;

1- Connect the wallet

2- Transfer funds to Bluefin

3- Withdraw funds from Bluefin to the wallet

4- Open Long/Short positions

5- The parameter to be used for the transaction

6- Account. Here, you can see general movements, transactions made, etc. in your account.

7- You can choose your language. Various language support is available.

8- Isolated: Leverage ratio in isolated type transaction

9- Active/Market or Passive/Limit order

10- Position size to be opened

11- Position status. Active position, open and unrealized order, realized order

P.S.: They don't have a token, yet.

Disclaimer: Cryptocurrencies are speculative, complex, and carry significant risks. They are highly volatile and sensitive to secondary activities. Performance is unpredictable, and past performance is not a guarantee of future performance. Consider your own circumstances and seek your own advice before relying on this information. Also, you should verify the structure of any product or service (including legal status and relevant regulatory requirements) and consult the relevant regulators' websites before making any decision.