Original source: BlockBeats

Recently, Nvidia's market value has reached 3 trillion US dollars, making it one of only three companies in the world with a market value of more than 3 trillion US dollars. AI has become the ceiling track of Wall Street and even the entire financial world.

The combination of blockchain and AI also shows great potential. As a new productivity, AI can automate simple tasks, optimize complex DeFi strategies, and enhance the overall on-chain experience of users. As a new production relationship, blockchain can change the distribution relationship between users, companies, and capital markets, bringing revolutionary changes to the entire economic system. By combining these two technologies, we can improve efficiency and provide a safer and more convenient user experience.

Original title: Bitlayer Ecosystem & Growth: What You Need to Know

Original author: Avalon Finance, Pell Network, BitCow, & More

Original source: Revelo Intel

Compiled by: TechFlow

2024.06.13  - 8 minutes ago Shared to Bitlayer has become a leader in the Bitcoin ecosystem with its unique BitVM implementation approach and ability to attract liquidity and users.

Author: Revelo Intel

Compiled by: TechFlow

Over the past few weeks and months, Bitcoin’s status as an asset has declined from its position in the 70s. Market participants have been expecting the market leader to break out to a new all-time high (ATH), but in the second quarter of 2024, this has yet to happen. Competition in the Bitcoin Layer 2 (L2) network has been growing, with Starknet announcing that they will launch their own Bitcoin L2, named Catnet. This plan involves creating a custom signet and enabling the OP_CAT opcode; if Bitcoin had not removed this opcode in the early development stages, it would have allowed Bitcoin to host smart contracts from the beginning. Now, Babylon, a project that provides BTC staking and collateralization services, is gaining more attention. The protocol is currently in the testnet stage, while also recently raising about $70 million from companies such as Paradigm.

Original title: The Restaking Wars: Eigenlayer vs Symbiotic

Original author: IGNAS | DEFI RESEARCH

Original source: IgnasDeFi

Compiled by: TechFlow

This week, I had planned to write a blog post about emerging trends in cryptocurrency, but due to the sudden launch of Symbiotic and its deposit limit reaching almost $200 million in one day, I had to switch my focus to restaking. Emerging trends can be put on hold for the time being, but the opportunity for high-yield airdrops cannot be missed.

Currently, with Karak, we have three restaking protocols. So, what are the differences between these protocols? How should we respond?

Original source: TechFlow

One of the most noteworthy events in recent days is the launch of IO.NET tokens.

From the price changes at the Binance opening to the review of the experience of providing graphics cards to mine IO tokens...it seems that all attention is focused on the asset level of IO.

However, there are also people who disagree.

For example, Greg Osuri, the founder of Akash Network, another decentralized cloud computing project, was a bit restless. While his attention was focused on the changes in IO prices, he went to experience the IO.NET product.

As a result, the experience was a bit unsatisfactory.

Original source: Gyro Finance

The airdrop that was thought to bring benefits overnight turned into a war over humanity.

On June 11, regarding LayerZero’s ongoing Sybil review, LayerZero co-founder Bryan Pellegrino announced on the X platform that the final list of Sybils will be announced before the end of June, and once again emphasized that the review will focus on real users and fair distribution.

The statement, which seemed to be consistent with the identity of the project party, still caused an outcry from the community. Regarding this massive witch-hunt, the market had different opinions, with some people strongly supporting it and others saying that it was a waste of time.

Original author: Haotian | CryptoInsight

Original source: twitter

Note: This article comes from @tmel0211 Twitter, and Mars Finance compiled it as follows:

How do you view the subsequent market impact of @ionet's decentralized cloud computing network? In general, io integrates the three major narrative directions of AI+DePIN+Solana, which is related to whether the Crypto industry can find a main rising wave to trigger a bull market through AI. To some extent, it is not an exaggeration to call it the "Nvidia of the cryptocurrency circle"? Next, let me briefly talk about my opinion:

1) io has been highly anticipated since its birth. Whether it is VC, miners or retail investors, they are eager for io to set a good sign in the direction of integrating Crypto with AI, and there are great expectations for leading projects in the AI ​​direction. The decentralized cloud computing solution provided by io hits a primary contradiction in the direction of AI large model training: the huge computing power "demand" for small and medium-sized model training, fine-tuning, and reasoning, and the increasing "cost" of centralized computing power.

撰文：Yangz，Techub News

 

作为此轮牛市中少有的 DeFi 热门叙事，再质押赛道迎来又一位重磅选手。6 月 11 日，Symbiotic 宣布完成初步部署并在 Paradigm 和 Cyber Fund 领投的种子轮融资中筹集 580 万美元。上线 5 小时后，Symbiotic 上质押的 wstETH 更是达到上限，势头实为凶猛。

 

考虑到当前再质押赛道 EigenLayer 只支持 ETH 和某些 ETH 衍生品质押，而 Symbiotic 则支持 ERC-20 代币标准的任何资产进行质押，两者或将成为直接竞争对手。据 CoinDesk 此前的报道，此次融资的背后其实也是巨头 VC 间的博弈。几位知情人士透露， EigenLayer 联合创始人 Sreeram Kannan 曾拒绝 Paradigm 的投资，转而选择了 a16z。而 Cyber Fund 则由 Lido 联合创始人 Konstantin Lomashuk 和 Vasiliy Shapovalov 创建。虽然 Cyber Fund 发文对 EigenLayer 在再质押方面所做的开创性工作表示尊重，但不难想象，此次投资应该也是其应对 EigenLayer 蚕食其市场份额的措施。

 

那么，Symbiotic 究竟是怎样一个再质押协议？

 

Symbiotic 简介

 

根据官方文档介绍，Symbiotic 是一种共享安全协议，可作为协调层使网络构建者能够以无需许可的方式控制和调整自己的（再）质押策略。

 

 

该协议的优势包括：

 

模块化带来的灵活性

该网络可控制（再）质押策略的方方面面，包括支持的质押资产、节点运营商的选择、奖励、罚没以及相关的结算机制。所有参与者都可灵活选择加入或退出 Symbiotic。

 

通过不变性实现风险最小化

以太坊上不可升级的核心合约消除了外部治理风险和单点故障。而 Symbiotic 的合约设计可最大限度降低执行层风险。

 

通过再质押和基于信誉的策展提高资本效率

无需许可、多资产且网络无感化的设计可帮助实现可扩展且高资本效率的经济安全性。此外，不断发展的以运营商为中心的跨网络信誉系统将进一步提高网络建设者的资本效率。

 

Symbiotic 核心模块

 

Symbiotic 协议由 5 个相互关联的模块组成，包括经济安全层的抵押品、质押层的财库、基础设施层的运营商、仲裁层的解决者（Resolver）以及服务层的网络。

 

 

抵押品

 

抵押品通过使用于保护 Symbiotic 网络安全的资产能够在 Symbiotic 协议本身之外持有（例如，在以太坊之外的网络上持有 DeFi 头寸）来提高资本效率并扩大规模。

 

Symbiotic 通过将罚没资产的能力与底层资产本身分离来实现这一目标，与流动性质押代币如何创建底层质押头寸的代币化表示类似。从技术上讲，Symbiotic 中的抵押头寸是 ERC-20 代币，且具有处理罚没的扩展功能。

 

 

抵押代币由拥有资产或想要再质押头寸的用户铸造并存入财库，财库会将抵押品委托给 Symbiotic 网络中的运营商。财库定义可接受的抵押品，而网络需要接受财库抵押品和财库条款（如罚没限额）才能获得奖励。

 

 

财库

 

财库是 Symbiotic 的委托和再质押管理层，功能包括：

 

「会计」：财库处理抵押品的存款、取款和罚没，进而处理其相关资产。

委托策略：财库部署者/所有者向 Symbiotic 网络上的运营商制定委托和再质押策略。

奖励分配：财库将网络的质押奖励分配给抵押品储户。

 

财库可以以不可改变、预先配置的方式部署，也可指定能够更新财库参数的所有者。加密货币机构或流动性（再）质押协议等运营商和托管人有望使用财库来创建差异化产品，例如：

 

运营商专用财库：运营商可创建财库，并将抵押品通过任何网络配置重新质押到其基础设施上。运营商可创建多个不同配置的财库为客户提供服务，无需额外的节点基础设施。

多运营商财库：为不同的运营商配置再质押网络和委托策略。财库还可以设置自定义罚没限额，为特定运营商或网络可罚没的抵押品金额设定上限。这些承诺条款需要得到提供策展服务的网络的认可。

不可更改的预配置财库：财库可以使用无法更新的预配置规则进行部署，进而预防财库管理者添加额外的再质押网络或以任何其他方式更改配置等风险。

 

 

运营商

 

运营商是在 Symbiotic 生态内外运行去中心化网络基础设施的实体。Symbiotic 协议会创建运营商注册表，记录与协议的交互，协议参与者可将凭证和其他数据附加到运营商实体上。在初始版本中，这包括运营商自己提供的运营商实体元数据，以及通过与 Symbiotic 协议交互创建的数据，例如：

 

运营商选择加入的网络

相关的财库和财库中的再质押抵押品

历史罚没日志以及与 Symbiotic 生态的所有其他交互记录

 

Symbiotic 协议及其财库系统的一个重要优势是，运营商可以从不同合作伙伴（通过财库）接收每个受支持网络的同一套节点基础设施的质押份额。该系统允许节点运营商从具有不同风险状况的不同质押者那里获取份额，而无需为他们建立独立的基础设施。

 

 

解决者

 

Symbiotic 通过引入解决者，支持各种处理罚没事件的模式。解决者是能否决从网络转发的罚没事件的合约或实体，由网络提出的条款确定，并被寻求为运营商提供抵押品支持的财库所接受。财库可以允许多个不同（或无）的解决者来覆盖其全部抵押品。此外，UMA、Kleros、reality.eth 等去中心化争议解决框架也可当作解决者。另外，还可以通过要求达到法定人数的否决机制或通过特定的罚没事件，为 Symbiotic 协议的参与者提供额外的安全保障。

 

 

网络

 

在 Symbiotic 中，网络定义为任何需要去中心化基础设施网络在加密经济中提供服务的协议，例如，通过负责验证和排序交易，向加密货币经济中的应用提供链下数据，或为用户提供跨网络交互的保证等，使开发人员能够启动去中心化应用。

 

去中心化基础设施网络可以利用 Symbiotic 灵活地以运营商和经济支持的形式获取其安全性。在某些情况下，协议可能由具有不同基础设施角色的多个子网络组成。Symbiotic 协议的模块化设计允许此类协议的开发人员定义参与者选择加入任何子网络的参与规则。

 

 

Symbiotic 生态进展

 

据 CoinDesk 援引消息人士报道，Renzo 已在就 Symbiotic 推出后进行整合进行讨论。此外，Ether.Fi 联合创始人 Mike Silgadze 对 Symbiotic 也充满期待，称「我对他们正在研究的东西感到兴奋。它看起来很有趣，也很有创新性。」

 

 

目前 Symbiotic 生态已有近 20 位合作伙伴，以下是相关进展：

 

Ethena 正将 Symbiotic 与 LayerZero 的去中心化验证网络 (DVN) 框架整合在一起，以实现 Ethena 资产（如 USDe）的跨链。

Bolt 由 Chainbound 构建，是一个能让以太坊区块提议者做出可信承诺（如无信任的预先确认）的协议，并计划利用 Symbiotic 进行运营者集的再质押和罚没。

Hyperlane 正在为其模块化互操作性框架探索一种由 Symbiotic 驱动的链间安全模块（ISM）。

Kalypso 是一个 ZK 证明市场，支持私有输入，使用 Symbiotic 再质押为证明生成提供有效性和响应时间保证。

Fairblock 正与 Symbiotic 合作探索动态加密服务网络 (CSN)，该网络通过（再）质押资产来确保安全，并针对需要不同安全参数、性能和可用性权衡的应用进行定制。

Aori 计划将 Symbiotic 再质押与稳定币资产结合起来，使做市商和解决者在与其高频订单协议交互时承担责任。

Drosera 正与 Symbiotic 团队合作，研究以太坊 Layer2 解决方案的再质押应用安全。

Ojo 是一个跨链预言机网络，将通过 Symbiotic 来提高其经济安全性。

Blockless 通过将 Symbiotic 可定制的安全性与其可定制的计算基础设施集成， 使构建者能够创建安全、网络中立的应用，并在共享安全性方面拥有完全的自主权和灵活性。

Rollkit 正在探索将 Symbiotic 再质押集成到其模块化堆栈中，以促进在 Celestia 上启动主权 Rollup；Symbiotic 最初将帮助为 Rollup 排序器提供问责制，集成的长期目标是排序器的去中心化。

Cycle Network 是一个旨在实现区块链无感化的统一流动性网络，将使用 Symbiotic 为其共享排序器提供动力。

Stork 希望整合 Symbiotic 再质押，以增强链上数据利用的去信任化。

Aizel 正在构建一个可验证的人工智能网络，研究如何利用 Symbiotic 对不同节点角色进行重构，以确保从推理到执行的可验证性。

Mind Network 将利用 Symbiotic 再质押与 FHE 相结合，以增强去中心化网络中的经济和共识安全性。

DOPP 正在构建完全链上的期权协议，该协议正在研究 Symbiotic 再质押，以帮助其预言机网络实现去中心化，从而获得特定期权的价格反馈。

 

正如 Cyber Fund 所指出的，可组合资本效率一直是 DeFi 协议的核心价值主张。EigenLayer 在以太坊之外为需要安全保障的协议带来了高效的资本再部署，尽管在早期阶段受到诟病，但在激发创新方面功不可没。如今，Symbiotic 带着雄厚资本进入再质押赛道，双方的博弈在所难免。至于 Symbiotic 是否会像 Paradigm 所期待的那样「成为启动去中心化网络的默认选择」，答案尚未可知，但其与 EigenLayer 的竞争无疑将为当前低迷的 DeFi 赛道注入新的活力。

Original title: The Restaking Wars: Eigenlayer vs Symbiotic

Original author: IGNAS | DEFI RESEARCH

Original source: Substack

Compiled by: Lynn, Mars Finance

This week, I was going to write a blog post about emerging trends in cryptocurrency, but then I had to quickly change the subject and turn my attention to re-staking.

Reason: Eigenlayer’s main competitor, Symbiotic, just went live and nearly reached its $200 million deposit limit in one day. Emerging trends can wait, but high-yield farming opportunities cannot.

In addition to Karak, we now have three re-staking protocols. So, what’s going on, how are they different, and what should you do about them? But first, this week’s airdrop farm.

Original title: In Defense of Meme Coins

Original author: Daniel Kuhn

Original source: CoinDesk

Compiled by: BitpushNews an

I get it: memecoins are stupid. Not serious. A waste of time. They give the impression that the crypto industry is frivolous and full of speculators. Vitalik Buterin is probably right that the industry would be better off if people focused on legitimate projects. But — the only thing worse than trying to financialize memecoins is complaining about memecoins. You can have many profound insights about how memecoins have become a symbol of this era of “financial nihilism,” but it’s shameful to say it out loud — especially if you yourself are holding a losing position.

Original Title: How Researchers Cracked an 11-Year-Old Password to a $3 Million Crypto Wallet

Original author:KIM ZETTER

Original source: wired

Compiled by: Wu Talks about Blockchain

Two years ago, when “Michael,” a cryptocurrency holder, contacted Joe Grand for help recovering about $2 million in Bitcoin he had stored in an encrypted format on his computer, Grand turned him down.

Michael is located in Europe and requested to remain anonymous. He stored his cryptocurrency in a password-protected digital wallet. He used RoboForm Password Manager to generate a password and stored that password in a file encrypted with TrueCrypt. At some point, the file became corrupted and Michael lost access to the 20-digit password he had generated to protect 43.6 BTC (worth $5,300 in 2013). Michael generated the password using RoboForm Password Manager but did not store it in the manager. He was worried that someone could hack into his computer and gain access to the password.

Original author: Asher zhang

Original source: Bitpush

On June 11, ZKsync released information on the distribution of protocol tokens. As the former king of Layer2 projects, it has finally come. The former four major Layer2 projects have finally started to compete on the same stage. This article briefly sorts out the latest development directions and technical advantages of the four major Layer2 projects Arbitrum, Optimism, Starknet and zkSync.

Arbitrum's monthly active users surpass Ethereum, L3 gaming strategy shines

After the Dencun upgrade, the transaction costs on Ethereum's second-layer blockchain were reduced by up to 99%, and Arbitrum may become the biggest winner of the Dencun upgrade. In the week before the upgrade, the number of transactions on Arbitrum was only 747,000, and the week after the upgrade, this number jumped to 1.5 million. On June 3, according to Token Terminal data, the number of monthly active users of Arbitrum exceeded Ethereum for the first time, with Arbitrum's monthly active users exceeding 8 million, while Ethereum's monthly active users were about 7 million. At the same time, it also attracted a number of companies to participate in the ecological construction, including heavyweight company Franklin Templeton, and Securitize, a company that helps BlackRock tokenize assets.

原文标题：Account Abstraction: The Key to Enhancing the Blockchain Interaction Experience

Original author: eqing Guo, Jinming Neo

Original source: HashKey Capital

Why do we need account abstraction?

 

There are still many unresolved issues in the current blockchain field. Among them, the difficulty of using blockchain, that is, the user experience (UX) of interacting with the chain, must be the area that is criticized the most by the public. For example, many people think that using keys is more complicated than using email to manage accounts; key management is difficult and insecure; each transfer (such as transferring USDC) requires the consumption of native tokens (such as Ether and Sol), which is counterintuitive. In this context, more and more people are turning their attention to the field of account abstraction to improve the user experience of on-chain interactions and make blockchain easier to be adopted on a large scale (mass adoption).

Original author: Lawyer Liu Honglin

Original source: Mankiw Blockchain Legal Services

Last week, Bybit carried out a comprehensive strategic adjustment plan and made new progress in opening up Chinese user registration. According to Wu Shuo, Bybit plans to relocate its employees to Malaysia and Dubai, and is considering closing domestic offices in Shanghai, Shenzhen, etc. The main reason is that after opening up Chinese user registration, domestic employees will bear greater risks (for details, please refer to Honglin Lawyer’s previous article "Release of Bybit registered in mainland China, backstabbing mainland employees"). At present, Bybit’s domestic employees are mainly technical employees, and those who are unwilling to leave may be laid off and compensated. Previously, other exchanges and currency circle institutions have also required all employees to move to overseas collective offices, otherwise they will be laid off.

Original author: Chen Zhiyan

Original source: Undercurrent Waves

When you believe that all opportunities are gone, leaving the table may not mean "being a deserter".

 

I met Huang Yu in mid-April, when he returned to Shanghai from the Web3 Conference in Hong Kong. He described to us a long-lost, vibrant scene - a schedule that was fully scheduled from 9 am to 11 pm every day; he would occasionally run into acquaintances while walking, and sit down to chat for an hour; there was no need to worry about idle time, "the previous person would naturally arrange the next schedule for you."

Original author: 0xTodd

Original source: foresightnews

Because it may not make money. Last week, Cathie Wood’s Ark Fund decided to withdraw its ETH ETF application.

 

Ark BTC ETF ranks 4th (6% market share, the top 3 are BlackRock, Grayscale and Fidelity), but according to market speculation, it is "not very profitable". The main reason is that the fee rate of BTC ETF is relatively low compared with traditional ETFs, many of which are in the range of 0.19-0.25%, and ETFs are also engaged in "fee rate competition".

A simple estimate shows that with the current scale of Ark BTC ETF, it can earn about 7 million US dollars in management fees a year, so the corresponding costs are probably of the same order of magnitude. Therefore, if Ark BTC ETF is still hovering near the profit line, then for Ark, pushing ETH ETF may become a loss-making business. So even Ark can only reluctantly give up ETH ETF. From a purely business perspective, mainstream coins with lower market capitalization, such as $SOL , have a market capitalization of 5% of $BTC. In order to recover the annual cost of 7 million US dollars, an ETF must manage at least 20 million SOL. BlackRock, the current leader in crypto ETFs, only manages 1.5% of the BTC in the entire network, while 20 million SOL means 4.5% of the $SOL paper circulation.

Original author: Mary Liu

Original source: BitpushNews

Crypto markets surged in early trading on Wednesday after the U.S. Department of Labor released lower-than-expected consumer price index (CPI) data for May, with Bitcoin rebounding to over $70,000, but gains quickly fell after the Federal Reserve kept interest rates unchanged and hinted that it might only cut once this year. At press time, Bitcoin is trading at $68,250, up 1.5% in the past 24 hours.

Altcoins performed positively, with most of the top 200 tokens by market cap seeing price increases.

Newer DePIN token Io.net (IO) was the best performer, up 35%, followed by Livepeer (LPT), up 19.3%, and Injective (INJ), up 12.6%. Akash Network (AKT) was the biggest loser, down 10.5%, FLOKI (FLOKI) down 7.9%, and MANTRA (OM) down 5.3%.

Original author: @Cryptovoxam

Original source: twitter

Compiled by: Vernacular Blockchain

Intent-driven applications will shape decentralized finance (DeFi) 3.0, and if you haven’t realized this yet, it’s probably because you haven’t understood the potential that intent can unlock.

I will write this article to tell you about the decentralization intention:

It would be impossible to explore every possible use case that intents unlock, as that would require an infinite number of threads. I wanted to keep this as compact as possible.

I want to focus on a specific area of ​​finance where trillions, some estimates even run into quadrillions of dollars, are moved around every year in the traditional financial system.

原文标题：NFT Market Update: Bitcoin and Ethereum Lead NFT Sales in May — Here’s Why It Matters 

Original author:Robert John

Original source: medium

Compiled by: Vernacular Blockchain

NFTs (Non-Fungible Tokens) are sweeping the world, transforming fields as diverse as art, music, and virtual real estate. But why are NFTs so important? Because they represent a revolutionary way to own and trade unique digital items securely and transparently on the blockchain. For artists and creators, NFTs offer a new source of income, while collectors and investors view them as a valuable asset class. In short, NFTs are reshaping digital ownership and opening up exciting opportunities across industries.

Original author: Murphy

Original source: twitter

Note: This article comes from @Murphychen888’s Twitter account, and is compiled by Mars Finance as follows:

Preface

Since I wrote the article "Using the "God's Perspective" to Discover the Inner Operating Laws of BTC" in February this year, I have not written any long tweets. On the one hand, I think that if I can explain the simple logic clearly, I don't need to use long articles to increase the reader's fatigue. On the other hand, my busy work makes it impossible for me to calmly think about a complete set of data systems. In particular, I like to express my articles clearly in a way that combines pictures and texts; sometimes the time spent on drawing pictures even exceeds the time spent on typing.

Original title: Investing in Everclear

Original author: Jonathan Gieg, Lauren Stephanian

Original source: Pantera Capital

Compiled by: Mars Finance, MK

A new era of chain abstraction

As the blockchain ecosystem continues to grow, the ability to easily interact across networks has shifted from a convenience to a necessity. We firmly believe that the industry is gradually entering an era of chain abstraction, during which users and developers are almost unaware of the underlying complexity of blockchain infrastructure. In this new reality, developers are primarily focused on the accessibility of distributed systems, rapid deployment, and the security and reliability of the infrastructure they build. From a user perspective, they care most about getting value from a seamless, efficient, and cost-effective experience.