Compiled by: Mars Finance
Mars Finance Crypto Daily April 29, 2024
1. Today's News
Yuga Labs CEO: The company has reached a bottleneck in development, and layoffs are to seek change
According to Mars Finance, DL News disclosed an email sent by Yuga Labs CEO Greg Solano to internal employees. Greg Solano said that Yuga Labs has "lost its way" and is struggling under a "maze-like process". The previous announcement of the adoption was to change Yuga Labs to return to its roots. Greg Solano also said that Yuga Labs needs a team that does less but does it well, but is now in difficult mode.
MoonPay CEO and Legal Officer Joins BlackRock IBIT Board
According to Mars Finance, IBIT, a subsidiary of BlackRock, has appointed Moonpay's Chief Administrative Officer and Legal Officer Lindsey Haswell as a member of the fund's board of directors. IBIT is restructuring its board of directors, and Lindsey Haswell will replace financier Kimun Lee, who will resign on November 6, 2024. Lindsey Haswell previously worked at Blockchain.com, is a founding member of the Core blockchain, and is also a contributor to Core Dao.
China Asset Management purchased $1 billion worth of insurance for Bitcoin and Ethereum ETF assets, which may reduce management fees to 0.65%
According to Mars Finance, China Asset Management, Harvest Asset Management and Bosera Asset Management, three major Chinese fund companies, were approved by the Hong Kong Securities and Futures Commission this week to each launch a Bitcoin and Ethereum spot ETF.
According to the product summary, the annual expense ratio of ETFs under China Asset Management is the highest, reaching 1.99%; the annual expense ratios of ETFs under Harvest and Bosera are 1% and 0.85% respectively, which are still generally higher than the Bitcoin spot ETFs issued in the United States. It is understood that the high expense ratio of China Asset Management partly reflects that the bank has purchased insurance worth a total of US$1 billion for related assets. The management fee of Bitcoin and Ethereum spot ETFs issued by China Asset Management is capped at 0.99% of AUM, and there is an internal assessment that the actual fee can be reduced to 0.65%. Bloomberg ETF analyst James Seyffart believes that Harvest’s 6-month management fee exemption and the lowest fees are likely to lead to a fee reduction war among Hong Kong fund companies.
Ethereum Foundation-associated address transferred 2,000 ETH to a new address after 6 years of silence
Mars Finance reported that according to AI Auntie’s monitoring, the Ethereum Foundation’s associated address, which had been dormant for six years, transferred 2,000 ETH to the new address 0x9d2 two hours ago, worth $6.56 million. This address received 2,000 ETH from the Ethereum Foundation nine years ago (September 2015), when the price was only $0.8917, and now has a floating profit of $6.11 million. This address may belong to an early participant or foundation of Ethereum.
Hong Kong-listed company Yao Gao Holdings plans to use HK$18.9 million for working capital and MetaSpaceX Web3 business
According to Mars Finance, Hong Kong-listed company Yao Gao Holdings issued an announcement, announcing that it has conditionally agreed to place a maximum of 24,000,000 placing shares to no fewer than six subscribers through a placing agent on a best-effort basis. The placing price is HK$4.03 per placing share. 20% of the net proceeds from the placing, or approximately HK$18.9 million, will be used for general working capital and MetaSpaceX Web3 business.
Scam Sniffer: Phishing ads use fake Google CAPTCHA pages to scam people
Mars Finance reported that according to Scam Sniffer, the X platform (formerly Twitter) phishing ads used fake Google verification code pages and utilized IPFS deployment and smart contracts for dynamic redirection. Please be sure to check the URL carefully. Users are reminded to pay attention to asset security.
Analyst: If the "Banana Effect" happens again, the price of Bitcoin will reach $300,000
According to Mars Finance, crypto analyst MartyParty wrote on the X platform that if the "banana effect" that occurred in 2011, 2014, 2019, and 2022 happens again, the price of Bitcoin will reach $300,000, a record high.
ConsenSys proposes four key reasons to support Ethereum's non-security status
According to Mars Finance, the US SEC's re-examination of whether Ethereum belongs to the category of securities has caused controversy. ConsenSys put forward four reasons to support Ethereum's non-securities status: 1. Historical position: The former SEC director said in 2018 that Ethereum is not a security, and this historical position provides a solid foundation for its non-securities status. 2. CFTC classification: The Commodity Futures Trading Commission (CFTC) has long regarded Ethereum as a commodity, which is consistent with the SEC's position. 3. Decentralization and openness: Ethereum's decentralized architecture makes it different from securities. All information is publicly accessible and does not have the characteristics of insider information asymmetry. 4. The irrelevance of the consensus mechanism transition: The recent consensus mechanism transition from PoW to PoS does not affect the core essence of Ethereum, so it should not be a reason for reclassification. These factors together support Ethereum's non-securities status in the regulatory community. In response to the SEC's re-examination, the industry and the community continue to pay attention to Ethereum's positioning.
Australian Stock Exchange Expects to Approve Spot Bitcoin ETF by the End of 2024
Mars Finance News, Australia will follow in the footsteps of the United States and Hong Kong to launch a Bitcoin ETF. According to unnamed people familiar with the matter, ASX Ltd., which handles about four-fifths of the country's stock transactions, is expected to approve the main board's first batch of spot Bitcoin ETFs by the end of 2024. A spokesperson for Sydney-based BetaShares said in an interview that it is working to launch a product on the Australian Stock Exchange. Another local company, DigitalX Ltd., said in its half-year results in February that it had applied. Justin Arzadon, head of digital assets at BetaShares, said the inflow of funds from the United States proves that digital assets will continue to exist. Arzadon added that the company has reserved ASX stock codes for spot Bitcoin and spot Ethereum ETFs.
Hong Kong virtual asset spot ETF does not invest in financial derivatives or engage in securities lending, repurchase and other transactions for any purpose.
According to Mars Finance, the six virtual asset spot currency ETFs approved by the Hong Kong Securities and Futures Commission under China Asset Management (HK), Bosera International and Harvest Global were first issued on April 29 and officially listed on the Hong Kong Stock Exchange on April 30. Since Bitcoin and Ethereum are virtual assets, for the avoidance of doubt, these ETF funds will invest 100% of their assets in Bitcoin or Ethereum, will not make other types of investments, will not invest in financial derivatives for any purpose, and will not engage in securities lending, repurchase or reverse repurchase transactions. They are also not allowed to use any form of leverage, and may retain a small amount of cash for various expenses or to deal with redemptions.
Santiment: Ethereum network gas fees fall to 6-month low, may indicate a rebound in altcoins
According to Mars Finance, analysts at Santiment, an on-chain and off-chain indicator intelligence platform, said that despite the rising price of Ethereum, the Gas fee on the Ethereum network has fallen to a six-month low, which may herald an upcoming altcoin rebound.
Santiment explained that trader sentiment tends to peak at market tops and trough at market bottoms. In February of this year, Ethereum's gas fees reached an eight-month high, and the current low fees may indicate an increase in Ethereum network activity in the future and the beginning of a rally in altcoins.
Manta Co-Creation: 11 Manta ecological projects participating in Renew Paradigm will be allocated 3% of their total token supply based on NFT destruction
According to Mars Finance, Manta Network co-founder Victor Ji posted on X platform that the Manta Renew Paradigm reward snapshot ended at 22:00 on April 24, Singapore time. Users who destroyed NFTs before the snapshot can claim MANTA token rewards. The airdrop rewards of Manta ecosystem projects will be distributed according to the specific airdrop rules of the project partners. The 11 Manta ecosystem projects participating in the Renew Paradigm will be allocated 3% of their total token supply based on NFT destruction. Users who participate in the Manta Renew Paradigm with STONE can receive StakeStone airdrop points.
Xu Zhengyu: The Hong Kong government will announce its policy stance and guidelines on the application of AI in the financial market later this year
According to Mars Finance, Hong Kong Financial Services and Treasury Secretary Paul Chan pointed out at the Beijing 2024 Zhongguancun Forum Financial Technology Parallel Forum that as artificial intelligence technology continues to evolve, the Hong Kong government will maintain an open attitude, closely monitor market developments, and refer to domestic and overseas experiences to promote the responsible use of artificial intelligence in the financial industry. Later this year, the Hong Kong government will issue a policy declaration to elaborate on the Hong Kong government's policy stance and guidelines on the application of artificial intelligence in the financial market. Paul Chan also said that in terms of promoting the artificial intelligence technology ecosystem, Hong Kong Cyberport is setting up an artificial intelligence supercomputing center at full speed to assist research institutions and the industry in meeting computing power needs, and the first phase of facilities will be put into service as early as this year. In addition, the Hong Kong government will allocate HK$3 billion to implement a three-year artificial intelligence funding program to subsidize universities, research and development institutions and enterprises to use computing power to promote scientific research breakthroughs; strengthen the network security and data protection of computing centers; and carry out promotion and education activities, etc., so as to attract domestic and overseas artificial intelligence experts, enterprises and research and development projects to settle in Hong Kong.
Justin Sun: Ethereum spot ETF will not be approved in May
According to Mars Finance, Justin Sun, founder of TRON, posted on the X platform that he believes that the Ethereum spot ETF will not be approved in May, and the crypto industry still needs to prepare for long-term education from regulators, with the focus on helping them understand crypto.
Opinion: South Africa’s election will not affect its cryptocurrency regulation policy
According to Mars Finance, members of the cryptocurrency community said that South Africa's general election is scheduled for May 29 and is not expected to affect the country's digital asset industry plans. The Financial Sector Conduct Authority (FSCA) of South Africa recently established a cryptocurrency licensing system and plans to issue 60 licenses in the coming weeks; licenses have been issued to cryptocurrency companies Luno, Zignaly and VALR so far. South Africa will include cryptocurrency providers in the scope of its Financial Advisory and Intermediary Services Act in 2022 so that digital assets can be regulated as financial products. Maurice Crespi, partner at Schindlers Attorneys law firm in South Africa, said this shows that South Africa has taken a forward-looking approach to regulating the cryptocurrency sector, in line with global trends and recognizing the growing importance of blockchain technology in modern finance. (CoinDesk)
Cosine: Using the system's built-in input method is a good habit to reduce the attack surface, and the mnemonics/private keys should not be exposed to the Internet
According to Mars Finance, Yu Xian, the founder of SlowMist, posted on the X platform that using the system's own input method is a good habit to reduce the attack surface (of course, if the system input method is found to have risks and has not been resolved, then you have to pay attention). In addition, super-sensitive information such as mnemonics/private keys should not be exposed to the Internet. Previously, Shenyu said on the social platform that the cloud input method of up to one billion users may have leaked the input content. If the user has entered mnemonics or other sensitive information through any of the following cloud input methods, please take immediate measures to reduce the risk.
WorldLeagueLive! Officially releases Genesis Golden Ball NFT
According to official news from Mars Finance, WorldLeagueLive! Genesis Golden Ball NFT has been officially issued, which is the first equity NFT asset issued by the project. Users holding Genesis Golden Ball NFT can not only obtain project airdrop rewards, but also have priority participation in more subsequent activities.
Bitinfocharts: BTC network computing power increased by more than 90% in the past 12 months
According to Mars Finance, Bitinfocharts data shows that the current average computing power of the BTC network is 618 EH/s, reaching an all-time high of 728 EH/s on April 23. In the past 12 months, the computing power of the BTC network has increased by more than 90%, so it is particularly remarkable that an independent miner recently received a 3.125 BTC block reward. (Cointelegraph) Earlier news, Con Kolivas, a software engineer and administrator of the independent mining pool ckpool, posted on the X platform that a miner dug out the 282nd independent block in Bitcoin history. The miner's computing power at the time was about 120 PH, equivalent to about 0.12 EH, an average of about 12 PH a week, accounting for about 0.02% of the total network computing power. Since the Bitcoin network block reward has recently been reduced from 6.25 BTC to 3.125 BTC, this means that it is worth about $200,000 at the BTC price at the time.
European Digital Copyright Center complains that OpenAI's ChatGPT provides false information
According to Mars Finance, the Austrian non-profit European Digital Rights Center (Noyb) filed a complaint on April 29, accusing OpenAI of not fixing the false information provided by its generative AI chatbot ChatGPT. Its complaint stated that this may violate EU privacy rules. According to the organization, the complainant in this case is an unnamed public figure who asked OpenAI's chatbot for information about himself, but kept getting wrong information. OpenAI rejected the public figure's request to correct or delete the data, saying "this is impossible." At the same time, the company also refused to disclose information about its training data and the source of the data. (Cointelegraph)
Bitget Wallet announces $5 million in tokens and GASU rewards airdrop to BWB Points holders
According to Mars Finance, Web3 wallet Bitget Wallet announced that it will airdrop tokens and GASU rewards worth a total of $5 million to its platform currency BWB Points holders to thank users for their participation and support in the BWB Points airdrop event. As previously reported, Bitget Wallet launched a 6-week platform currency BWB Points airdrop event. At present, the event has ended and entered a one-week points verification period. The official said that the exchange of BWB Points for BWB tokens will soon be opened.
Polygon founder: AggLayer, a new aggregation layer solution, should be defined as "MetaLayer"
According to Mars Finance, Polygon founder Sandeep AggLayer said on the X platform that the new aggregation layer solution AggLayer cannot be classified as L1 or L2, it is a "MetaLayer". "In my opinion, there will be two important "MetaLayers" on Ethereum, namely the feature layer and the aggregation layer, which cannot be classified as L1 or L2.
Chiliz announces Dragon8 hard fork live on Spicy testnet
According to Mars Finance, the sports and entertainment public chain Chiliz posted on the X platform that the Dragon8 hard fork has been launched on the Spicy testnet. Chiliz Chain CEO Alexandre Dreyfus said that once the test is completed, a governance vote will be held to deploy on the mainnet. The hard fork will have a significant impact on the CHZ token economics and network governance rules. Earlier in February, Chiliz released the Chiliz Chain token economics 2.0 version on the X platform. The CHZ inflation rate will decrease year by year from 8.8% until it drops to 1.88% in 14 years and remains unchanged every year thereafter. In addition, regarding the transaction fee destruction mechanism, Chiliz Chain will implement EIP-1559, in which the vast majority of accumulated gas fees will be destroyed at the protocol level.
Trust Wallet App has been removed from the Google Play Store, and the official is dealing with the issue
According to Mars Finance, the cryptocurrency wallet Trust Wallet posted on the X platform: "Google has temporarily removed the Trust Wallet Android App from the Play Store. Google notified us of this possible action and we filed an appeal a few weeks ago. However, while waiting for Google to respond to our appeal, Google still deleted our App. While we correct this issue, users can continue to use Trust Wallet on Android devices by downloading the Android APK from the official website."
LightningTipBot, the Bitcoin Lightning Network wallet on Telegram, is about to be shut down
According to Mars Finance, the Bitcoin Lightning Network wallet LightningTipBot on Telegram posted on the X platform that due to the increasing operating costs, LightningTipBot and ln.tips will soon close the deposit and stop operating, and recommend users to transfer the reward funds to other wallets in use. It is reported that the LightningTipBot software has been open sourced.
Alchemy Pay and AI sports gaming platform TOPGOAL reach cooperation
Mars Finance News, according to official news, Alchemy Pay announced a partnership with TOPGOAL. TOPGOAL is an artificial intelligence sports game platform whose vision is to bring sports into the Web3 field. This partnership will integrate Alchemy Pay's Ramp solution into the TOPGOAL website, enabling users to purchase its token GOAL with fiat currency.
51 judges and mentors join Celestia's first global hackathon
According to official news from Mars Finance, 51 mentors and judges have joined Celestia's first global online hackathon "Infinite Space Bazaar" held on DoraHacks, a global geek sports platform, including Celestia's core team (co-founder, CTO, COO, etc.), Jelena Djuric (Noble CEO), Chjango Unchained (founder of InterchainFM), Robin Bisschop (Abstract Money CTO) Scott Sunarto (founder of Argus), Owl Protocol core team, Maven11 core team and other first-line project core teams, Web3 media people, investment research institutions, etc. They will score and select projects from four perspectives: technical integrity, project innovation, practicality and potential influence. This hackathon has a prize pool of $100,000 to encourage developers to develop applications based on modular blockchain/Rollup technology. The deadline for hackathon registration and project submission is May 17, 2024.
Marathon Digital to Use Zodia Custody Service for Digital Asset Custody
According to Mars Finance, Zodia Custody announced that Bitcoin mining company Marathon Digital will become its digital asset custody client. Custody company Zodia Custody was co-founded by SC Ventures and Northern Trust under Standard Chartered Bank, and SBI joined as an important supporter. Earlier this month, Zodia Custody announced that it is one of the cryptocurrency custody providers for Deutsche Bank Asset Management DWS cryptocurrency exchange-traded products (ETP). Zodia and Coinbase serve as custodians. (Ledger Insights)
Tiger Brokers to Support Hong Kong’s First Batch of Virtual Asset Spot ETF Transactions
According to Mars Finance, Tiger Brokers (Hong Kong) announced that its TigerTradeApp will open 0 commission and 0 platform fee trading of 6 first-issued virtual asset spot ETFs in Hong Kong to all Hong Kong customers on April 30, including Bosera HashKey Bitcoin ETF (03008), Bosera HashKey Ethereum ETF (03009.HK), Huaxia Bitcoin ETF (03042), Huaxia Ethereum ETF (03046), Harvest Bitcoin Spot ETF (03439) and Harvest Ethereum Spot ETF (03179). Tiger International partner Xu Yang said that the Hong Kong Securities Regulatory Commission officially approved the issuance of the first batch of virtual asset spot ETFs in Hong Kong, marking an important step in Hong Kong's process of becoming an international virtual asset center. The company is pleased to see the introduction of new and regulated virtual asset investment products in the Hong Kong capital market, making the Hong Kong investment market more diversified, and is expected to attract more funds to flow into Hong Kong, thereby expanding the breadth and depth of the Hong Kong market. (Hong Kong Economic Journal)
2. Selected Articles
The next L2 rookie favored by capital: an analysis of Morph's technical logic and ecological positioning
The Ethereum L2 track is developing rapidly, and many projects such as Optimism, Base, and Morph have received tens of millions of dollars in financing. The L2 ecosystem is also growing, and various projects are accelerating their progress and launching new networks and tools. With the upgrade of the Ethereum mainnet, the L2 fee has been greatly reduced, attracting more projects to issue their own L2/L3. The market demand for L2 continues to increase, and new players such as Blast, Taiko, Morph, and Reya Network have received a lot of financing, bringing a new development path for L2. As the first L2 network to implement a decentralized sorter, Morph emphasizes the importance of establishing a decentralized sorter and proposes to redistribute the profits of the sorter to the on-chain project parties to achieve a win-win situation for all parties. Morph's hybrid solution strikes the best balance between scalability, low cost, and high performance, attracting many project parties and DApps. By launching an incubator program and attracting different types of user groups, Morph is expected to become a good way for L2 to self-circulate and positive feedback, laying the foundation for the growth of a new wave of DApps and the Ethereum ecosystem.
Introducing Heroglyphs: When validator nodes can issue coins, is Ethereum’s inscription moment coming?
HeroGlyphs is a new protocol on Ethereum that incentivizes full validators to protect the network security by minting special tokens. These tokens represent actual value, unlike the meme coins on the market. By allowing full validators to create special tokens, the Heroglyphs project can prevent economic validators from staking ETH just for rewards and ensure network security. This new protocol brings more security and sustainability to the decentralized industry and contributes to a better decentralized future.
Understanding Centrifuge: Building an RWA lending market on Base to expand DeFi to institutions
The collapse of DeFi platforms has caused the crypto market to enter a cold winter, and investors have turned to traditional assets. Centrifuge is an early DeFi project involved in real-world assets, working with MakerDAO and Aave to achieve a win-win model. The RWA protocol aims to tokenize real-world assets such as US dollars, gold, and treasury bonds, allowing DeFi to expand to institutions. Centrifuge built its own blockchain using the Substrate framework and launched a new funding pool, Centrifuge App, allowing users to invest. The team has extensive experience in the blockchain and financial industries and has completed multiple rounds of financing. The goal is to provide more convenient and efficient supply chain financing support for small and medium-sized enterprises.
The crypto market is on the rise again, will parallel SVM challenge parallel EVM?
In March this year, SolanaEVM solution Eclipse received $30 million in financing, which caused Sei founder Jay to question its hype and the difficulty of ecological development. The remarks of Sei founder triggered further discussions between the founders of Eclipse and Fantom, making parallel EVM the focus of the community. Recently, the hot project ZEUS was launched to improve transaction execution efficiency by optimizing the existing EVM network execution layer. ZEUS connects Solana and Bitcoin to achieve parallel communication, adopting a decentralized and permissionless group model. Users can participate in PoS through staking and earn income. ZEUS is expected to reshape decentralized applications and user experience and connect the Bitcoin ecosystem, but Ethereum's parallel EVM narrative is still expected to break through first.
How cryptocurrency investment consultants build professional investment strategies
The cryptocurrency market is growing rapidly, and advisors can develop effective investment strategies for clients through diversification, customized investments, transparency, professional management, and time savings. Active and passive investment strategies offer different investment approaches, and investors can access active strategies through funds or separately managed accounts. Over time, more actively managed ETFs are expected to emerge.
Exploring the need for Solana application chains, aggregation, and modularity from a demand perspective
Solana is a high-performance blockchain that focuses on optimizing throughput and latency at the base layer. It plans to improve performance by reforming the fee market, implementing exponential write lock fees, and optimizing CU budget requests. At the same time, Solana is also working to make it modular so that application chains and Rollups are easier to implement. More application chains may appear in the future, such as AI and game application chains. Solana is also exploring new design architectures, and more application chains may appear. In addition, Solana may also develop Layer2 solutions. Solana's Rollups and Appchains infrastructure will bring new opportunities for existing infrastructure providers.
Public chain financial report for the first quarter of 2024: How many chains are still making money?
Last week, the U.S. stock market ushered in the busiest "earnings week" in the first quarter. The financial reports of technology giants have attracted much attention, and the crypto community has also paid attention to the public chain financial report data released by Token Terminal. Ethereum achieved $1.17 billion in revenue, while Solana and Avalanche lost $796 million and $179 million, respectively. Ethereum is still the most powerful public chain, but the number of ecosystem developers has declined and there is a lack of innovative application scenarios. Solana's network revenue is growing rapidly, but it still needs to solve the problems of high customer acquisition costs and fee mechanisms. Avalanche lacks attractive ecosystem applications and it is difficult to achieve a balance between income and expenditure. L2 has become a new opportunity for public chain entrepreneurship, but it still faces user growth bottlenecks and financial difficulties.
Revealing the new scam: maliciously modifying RPC node links to defraud assets
The SlowMist Security Team recommends that users do not trust others easily when conducting transactions to avoid property losses.
Getting something for nothing - Analysis of the hack of YIEDL
The SlowMist security team recommends that project owners implement a strict parameter verification mechanism during development.
The next L2 rookie favored by capital: an analysis of Morph's technical logic and ecological positioning
The Ethereum L2 track is developing rapidly, and many projects such as Optimism, Base, and Morph have received tens of millions of dollars in financing. The L2 ecosystem is also growing, and various projects are accelerating their progress and launching new networks and tools. With the upgrade of the Ethereum mainnet, the L2 fee has been greatly reduced, attracting more projects to issue their own L2/L3. The market demand for L2 continues to increase, and new players such as Blast, Taiko, Morph, and Reya Network have received a lot of financing, bringing a new development path for L2. As the first L2 network to implement a decentralized sorter, Morph emphasizes the importance of establishing a decentralized sorter and proposes to redistribute the profits of the sorter to the on-chain project parties to achieve a win-win situation for all parties. Morph's hybrid solution strikes the best balance between scalability, low cost, and high performance, attracting many project parties and DApps. By launching an incubator program and attracting different types of user groups, Morph is expected to become a good way for L2 to self-circulate and positive feedback, laying the foundation for the growth of a new wave of DApps and the Ethereum ecosystem.
Understanding Centrifuge: Building an RWA lending market on Base to expand DeFi to institutions
The collapse of DeFi platforms has caused the crypto market to enter a cold winter, and investors have turned to traditional assets. Centrifuge is an early DeFi project involved in real-world assets, working with MakerDAO and Aave to achieve a win-win model. The RWA protocol aims to tokenize real-world assets such as US dollars, gold, and treasury bonds, allowing DeFi to expand to institutions. Centrifuge built its own blockchain using the Substrate framework and launched a new funding pool, Centrifuge App, allowing users to invest. The team has extensive experience in the blockchain and financial industries and has completed multiple rounds of financing. The goal is to provide more convenient and efficient supply chain financing support for small and medium-sized enterprises.
Polkadot Ecosystem Weekly Observation丨Gavin launches JAM Gray Paper; Polkadot Ecosystem explores the future of decentralized AI
Learn about the major events that happened in the Polkadot ecosystem this week in 5 minutes!
Bitcoin Ecosystem Knowledge Pyramid, Test Which Level You Are On
After the birth of the Runes protocol, the Bitcoin ecosystem has received more attention. BlockBeats sorted out the Bitcoin ecosystem into five knowledge classes and unveiled its veil. Bitcoin halving and satoshi are important concepts for the entry-level class, and hash rate measures the security of the Bitcoin network. Important components of the Bitcoin development process include Mempool, rare satoshis, and Bitcoin full nodes. Segregated witness, PSBT, and RBF are important concepts in the Bitcoin ecosystem, and Taproot is an important upgrade that improves the privacy and scalability of the Bitcoin network. RBF sniping is an attack strategy that uses the RBF mechanism to earn revenue. Signed Bitcoin Transactions allows multiple parties to collaborate to create, sign, and send transactions, improving the security and efficiency of transactions.
Does Bitcoin need liquidity staking to improve capital efficiency?
This article explores the role, landscape, and future direction of Bitcoin in cryptocurrency. Bitcoin is a first-layer blockchain designed to solve the problem of trustless and transparent flow of monetary value. Recently, the Bitcoin ecosystem has grown exponentially, with multiple stakeholders trying to build a wider range of uses on it. Through sidechains, Rollups, and L2 expansion, the Bitcoin ecosystem is improving programmability and capital efficiency, and the emergence of staking and liquid staking brings more possibilities to Bitcoin. With the emergence of Bitcoin liquid staking, the future of cryptocurrency becomes even more exciting.
From Lightning Network to Bison, Bitcoin Layer2 Track Analysis
Bitcoin's inscription and Layer2 technology bring new development opportunities to the Bitcoin ecosystem, including the Lightning Network and Stacks projects that improve transaction efficiency and security. Other Layer2 projects such as Rootstock, Liquid Network, and BEVM are also expected to promote the development of the Bitcoin ecosystem. Projects such as Dovi, MAPProtocol, MerlinChain, and Bison also bring more innovation and convenience to Bitcoin. In addition, smart contract platforms such as BitVM and RGB have emerged in the Bitcoin ecosystem, which will further promote the development of Bitcoin. Bitcoin Layer2 technology is essential to maintaining Bitcoin's position as the main blockchain network.
Frequent capital support, project airdrops, and pledge LRT track become a "new holy land for gold digging"
Binance Launchpool launched the Renzo project, and the re-staking track is favored by capital. The EigenLayer platform has locked more than 16 billion US dollars and launched multiple liquidity re-staking agreements. Re-staking products are divided into native protocols and LRT protocols, among which Renzo, Ether.fi and Puffer finance are representative projects. LRT is a freely tradable digital asset that can be used for pledged lending and LP in DeFi applications, with double returns and multiple rewards. Karak Network is also a re-staking agreement that has launched the mainnet and early user reward program. The re-staking agreement attracts DApp or block network integration to obtain higher returns and valuations.
3. Project Interpretation
Over 57,000 users participated in two days. Detailed explanation of Binance Megadrop's first project BounceBit (with operation tutorial)
BounceBit (BB), the first project of Binance Megadrop, has been launched. Users can get airdrop rewards by subscribing to BNB regular products or completing BounceBit Quest. In just 2 days, 57,000 users have participated, with a TVL of nearly 10 million US dollars. BounceBit is a BTC re-pledge public chain that aims to maximize the value of BTC and provide profit opportunities. The project has completed a $6 million seed round of financing, with a total supply of 210 million tokens, of which 8% is used for Binance Megadrop and 35% is used for staking rewards. Investors include Capital, OKX Ventures and HTX Ventures. Future plans include ecological construction, lending, re-pledge platforms, etc. Odaily Planet Daily leads everyone to participate in the airdrop event. You need to open the Binance Web3 wallet and complete the task verification.
MIIX Capital: io.net Project Research Report
io.net is a decentralized GPU network that provides computing resources for machine learning. It has a market value of $1 billion and is expected to reach more than $5 billion in the bull market cycle.
Long push: BTC Staking may be an important narrative in the second half of the year and an important opportunity to open up the BTC ecosystem
This article introduces the possibility of BTC Staking as an important narrative in the second half of the year. By staking BTC to provide security for other PoS chains, high returns can be obtained. Babylon provides POS security guarantees for other blockchains through cryptography, and designs a complete BTC Staking including confiscations. The mainnet will be launched on May 1, and BTC L2 will be launched in cooperation with the largest listed mining company in the US stock market, and Coinbase will invest. Other projects such as Chakra, BOB, BounceBit, Mezo and Lorenzo will also help promote the development of BTC L2.
IV. Investment and Financing
Web3 gaming company GFAL completes $3.2 million seed round, with participation from Supercell and others
According to Mars Finance, Web3 game company GFAL has completed a $3.2 million seed round of financing, with participation from Supercell and MitchLasky. GFAL launched the GFAL token in the first quarter of 2023, raising $4.4 million in funds, and its token market value is currently $52 million. The GFAL team is led by Manel Sort, whose leadership members have worked at companies such as King Entertainment, Activision Blizzard, ElectronicArts, Netflix, and Digital Chocolate. GFAL has soft-launched its mobile game Elemental Raiders. (Venture Beat)
