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BiteyeHQAn in-depth analysis of TVL’s skyrocketing Manta Pacific
Author: Biteye Core Contributor Lucky Editor: Biteye Core Contributor Crush Community: @BiteyeCN *Text: 2400 words, read in 5 mins.01Introduction to Manta PacificThe recent futures price of the popular Blast on Aevo has continued to increase with TVL. In just one week, it rose from the lowest of 3.5 dollars to 15.5 dollars, and then fell back to 7 dollars. It can be seen that the L2 model, which focuses on native income, has begun to be recognized by the market. . And can Manta, which has als...
BiteyeHQDecoding the New L2——Public Goods Network
On July 7th, Gitcoin officially introduced the Layer2 network——Public Goods Network (PGN), which developed by the OP Stack. On August 18th, Gitcoin announced its 18th round of Grants will support the PGN network. What makes this L2 so favored by Gitcoin? This article will analyze PGN from the following aspects:What is a Public Good?Background and problem-solving of Public Goods NetworkHighlights of Public Goods NetworkWill Public Goods Network have an airdrop?How to interact with Public Goods...
BiteyeHQMovement：The Next Breakthrough Blockchain After Sui and Aptos
Please credit Biteye community when sharingAuthor: Biteye Core Contributor Fishery Editor: Biteye Core Contributor Crush Community: @BiteyeCN *Text: 5000 words, read in 5 mins.01 IntroductionFive years ago, Facebook's Libra (later renamed Diem) project emerged, drawing global attention. However, this ambitious initiative ended in 2022, leaving behind an unfinished legacy. Nevertheless, Libra’s technical foundation—Move programming language—has found new life through its successors. As wi...
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BiteyeHQAn in-depth analysis of TVL’s skyrocketing Manta Pacific
Author: Biteye Core Contributor Lucky Editor: Biteye Core Contributor Crush Community: @BiteyeCN *Text: 2400 words, read in 5 mins.01Introduction to Manta PacificThe recent futures price of the popular Blast on Aevo has continued to increase with TVL. In just one week, it rose from the lowest of 3.5 dollars to 15.5 dollars, and then fell back to 7 dollars. It can be seen that the L2 model, which focuses on native income, has begun to be recognized by the market. . And can Manta, which has als...
BiteyeHQDecoding the New L2——Public Goods Network
On July 7th, Gitcoin officially introduced the Layer2 network——Public Goods Network (PGN), which developed by the OP Stack. On August 18th, Gitcoin announced its 18th round of Grants will support the PGN network. What makes this L2 so favored by Gitcoin? This article will analyze PGN from the following aspects:What is a Public Good?Background and problem-solving of Public Goods NetworkHighlights of Public Goods NetworkWill Public Goods Network have an airdrop?How to interact with Public Goods...
BiteyeHQMovement：The Next Breakthrough Blockchain After Sui and Aptos
Please credit Biteye community when sharingAuthor: Biteye Core Contributor Fishery Editor: Biteye Core Contributor Crush Community: @BiteyeCN *Text: 5000 words, read in 5 mins.01 IntroductionFive years ago, Facebook's Libra (later renamed Diem) project emerged, drawing global attention. However, this ambitious initiative ended in 2022, leaving behind an unfinished legacy. Nevertheless, Libra’s technical foundation—Move programming language—has found new life through its successors. As wi...
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By: FISHERY Isla, DeFi Teddy, Dillon
Edit: Crush
**This article is about 2600 words. The estimated reading time is 6 minutes.
AppChain is not a new concept. Many well-known projects can be seen as independent appchains. For example, Bitcoin can be considered an AppChain for storing value, and Arweave is an appchain that provides permanent storage services, NYM is an appchain that provides privacy, and so on.
These appchain pioneers did not have many options due to the early technical constraints.
To meet the needs of their products, most project codes are written from the consensus layer to the settlement layer and the execution layer, which eventually leads to many projects facing a high degree of centralization. It is difficult for developers to improve the code and keep up with the development of the industry.
With the emergence of Cosmos inter-chain security, modular blockchain, subnets, etc. several pivotal projects in DeFi, Uniswap, dYdX, and USDC have announced that they will deploy their unique appchain. AppChains are gradually recognized by the mainstream.
To better understand the advantages and disadvantages of migrating to Lisk, let’s first sort out the development of technology:
Cosmos and Polkadot were conceptualized in 2016, but both fully launched their networks (IBC and parachain) in 2021.
At the same time, Ethereum chose to use Optimism rollup and zero-knowledge proofs as a scaling technology, and Polygon, Skale, zkSync (1.0), StarkWare (StarkEx), Optimism and Arbitrum are also launched in 2020 and 2021.
Other base layers ("L1s") first chose to prioritize support for the Dapp developer-friendly EVM (Ethereum Virtual Machine), as part of their business development efforts, Avalanche (C-Chain), NEAR (Aurora), Polkadot (Moonbeam) and Cosmos (Evmos) are developing EVM-compatible chains between 2020 and 2021.
After that, third-party projects use the technologies provided by the above basic layers to develop appchains with customized functions (such as Avax's subnet DefiKingdom, Cosmos' Juno, etc.).
In addition, in terms of the design of specific functions, Celestia proposed a novel modular design in 2019 that separates the execution, settlement, and data availability layer.
Therefore, for developing an appchain, there is no need to rebuild other parts of the stack, which greatly simplifies the development process. Celestia is still in the Devnet stage, which is worth looking forward to.
source: 1kx
With the launch of the inter-chain security function of Cosmos, a new form of application chain is invented - the consumption chain.
The consumption chain needs to continue to “consume” Cosmos technology, which can ensure its safety and reward the Cosmos ecology simultaneously, forming a positive cycle. Currently, two consumption chains can be developed based on the Inter-Chain Security (ICS) function:
Contract Consumer Chain:
The team directly creates an EVM and @CosmWasm to support smart contract blockchain without spending time dealing with low-level blockchain code that has nothing to do with business logic and uses contract language to develop its own business. The transaction fee on the chain is paid via ATOM and shared with Cosmos Hub.
Custom Consumer Chain:
The team fully customizes the bottom layer of the consumption chain to complete more complex functions and has customizable token economics. The Cosmos delegators will continue to receive the airdrop, which means that the early Cosmos Hub can enjoy the dividends of project development.
To sum up, the former is suitable for projects that have issued governance tokens on other EVM chains to quickly build their appchains (for example, the Appchain plan is suitable for UniSwap, but the details have not been announced), the latter is suitable for complex Web3 project that is hard to be completed by smart contract.
As Vitalik said, Web3 needs more non-financial applications, but due to the limitations of smart contracts, the performance of non-financial applications in smart contract L1 is not good. The appchains with a highly free and complete development environment may align with Vitalik’s vision more.
This week's biggest security incident was the attack on the native BNB bridge of BSC. Because the BNB bridge simplifies the verification process and reduces the difficulty for attackers to forge the withdrawal proof through cryptographic means, 2 million BNBs were printed out of thin air.
However, it can be seen from the process of the escape of funds that the attackers do not seem to have a good understanding of the ecology of the chain. In addition, Binance shut down the BSC chain in time to avoid series damage.
In this attack, the lending platform Venus was the most severely affected. The attackers used BNB as collateral to lend out the stablecoin. The stablecoin of Venus was almost emptied, which means depositors of stablecoins in Venus will not be able to redeem their stablecoins.
There are currently three solutions:
The hacker pays back the money, and everything is restored as before
As the interest rate for lending stablecoins gradually rises, the hacker's BNB mortgage position will face liquidation. After the liquidation is completed, depositors can then withdraw funds.
The responsible party paid for the attack.
Biteye recommends:
The apr of the decentralized lending project is not attractive in the bear market. Once there is a problem with any of the collaterals on the lending platform, the principal deposited on the lending platform will be lost.
No one anticipated this attack, but fortunately, the price of BNB itself has not been greatly affected, and the BNB deposited by the attacker still has the real price.
As long as they wait patiently for liquidation, investors are only equivalent to forcibly locking up funds and losing part of the opportunity cost. If the price of the collateral tokens deposited by the attacker goes to zero (such as Luna as collateral), the collateral previously deposited by the depositor may never be withdrawn.
GardenLockdown —— Wolf and Sheep Game on PoS Chain
Basic Information:
Quantity: Initial G0: 5000, Subsequent G1: 5000, G2: 10000, G3: 5000
Price: Initial G0: Free for the first one, 0.01 ETH for each subsequent one, up to 5 per wallet. Follow-up: G1: 2w $Sun, G2: 4w $Sun, G3: 8w $Sun.
NFT types: plants and zombies, 90% are plants, 10% are zombies. Zombies are also divided into N, S, SR, SSR grades to stake for tokens: $Sun, total 2.5 billion, of which 1.2 billion is allocated to pledge award.
How to play: The initial G0 costs Ethereum, the subsequent NFT needs to consume $Sun, the staked plants get 1w tokens per day, and the harvested tokens need to pay 20% tax to the zombies. There is a 50% probability that all tokens will be lost if unstake.
Except for G0, the newly generated plants or zombies have a 10% probability of being stolen by the staked zombies (the level of the zombies will affect the success rate). NFTs are staked for at least 2 days, and the current return period is 2.5 days.
Summary: The game mode is optimized by avoiding the randomness problem of the wolf and sheep game. There is an upgrade mode and potential game.
( https://twitter.com/glnft_eth )
Basic Information:
Total: 5555, 4500 whitelists, 555 as game rewards, 500 team holdings
Price: Free currently
Floor price: 0.06 ETH
Team: Founder Tomoya Kreation is also the head of the kreationdigital and houseofinsomnia projects, and previously worked for a game company. Jiro is a game designer, and screenwriter, and has participated in works including Pure Magical Girl, Dragon Gyas, New Sakura Wars, etc. Artist tatsuro was previously a character designer for Capcom.
Project progress: The NFT sale has been completed, and some backgrounds of stories have been announced. However, the game has not yet launched, and its operational capabilities are a bit weak (based on activities at Twitter and discord). However, the quality of the work is not bad, and the team has a background in the game industry, so you can still follow it in the short term.
( https://twitter.com/tat_nftgame )
Risk Warning: Investing in NFT has high risks. The above project information is not an investment recommendation. Biteye has no business relationship with the above projects.
Scroll: the zk-rollup scale plan of zkEVM, and is cooperating with the Ethereum Foundation on privacy scalability. The first phase of the test network has begun. The testnet consists of a self-built Ethernet fork L1 and Scroll L2 TestNet, now you can test the bridge and swap.
Y2K Finance: The insurance protocol, mainly aimed at the price anchoring of assets such as stablecoins or stETH, wBTC, will be deployed on Arbitrium.
Timeless Finance: Income market protocol, which can stabilize or amplify income, has been deployed on multiple chains. Amplifying returns are achieved through automatic reinvestment, and stable returns are hedged against the risk of yield fluctuations by holding NYT (negative yield token) (the price of NYT is inversely proportional to the apy).
Aveo: The on-chain options trading market is similar to the decentralized Derbit, which has partnered with Ribborn.
About us
Biteye is an Web3 learning and research community that generates content and tools by community and uses DAO to govern and motivate!
WeChat group: Add admin @Biteye01 on Wechat to get invited to the group
Twitter：@BiteyeHQ
Discord：discord.gg/BiteyeCN
*Disclaimer: The content shared in this article is only for learning and exchange, does not constitute any investment advice, and does not represent Biteye's position. If you like our articles, click on the business card below to follow us!
By: FISHERY Isla, DeFi Teddy, Dillon
Edit: Crush
**This article is about 2600 words. The estimated reading time is 6 minutes.
AppChain is not a new concept. Many well-known projects can be seen as independent appchains. For example, Bitcoin can be considered an AppChain for storing value, and Arweave is an appchain that provides permanent storage services, NYM is an appchain that provides privacy, and so on.
These appchain pioneers did not have many options due to the early technical constraints.
To meet the needs of their products, most project codes are written from the consensus layer to the settlement layer and the execution layer, which eventually leads to many projects facing a high degree of centralization. It is difficult for developers to improve the code and keep up with the development of the industry.
With the emergence of Cosmos inter-chain security, modular blockchain, subnets, etc. several pivotal projects in DeFi, Uniswap, dYdX, and USDC have announced that they will deploy their unique appchain. AppChains are gradually recognized by the mainstream.
To better understand the advantages and disadvantages of migrating to Lisk, let’s first sort out the development of technology:
Cosmos and Polkadot were conceptualized in 2016, but both fully launched their networks (IBC and parachain) in 2021.
At the same time, Ethereum chose to use Optimism rollup and zero-knowledge proofs as a scaling technology, and Polygon, Skale, zkSync (1.0), StarkWare (StarkEx), Optimism and Arbitrum are also launched in 2020 and 2021.
Other base layers ("L1s") first chose to prioritize support for the Dapp developer-friendly EVM (Ethereum Virtual Machine), as part of their business development efforts, Avalanche (C-Chain), NEAR (Aurora), Polkadot (Moonbeam) and Cosmos (Evmos) are developing EVM-compatible chains between 2020 and 2021.
After that, third-party projects use the technologies provided by the above basic layers to develop appchains with customized functions (such as Avax's subnet DefiKingdom, Cosmos' Juno, etc.).
In addition, in terms of the design of specific functions, Celestia proposed a novel modular design in 2019 that separates the execution, settlement, and data availability layer.
Therefore, for developing an appchain, there is no need to rebuild other parts of the stack, which greatly simplifies the development process. Celestia is still in the Devnet stage, which is worth looking forward to.
source: 1kx
With the launch of the inter-chain security function of Cosmos, a new form of application chain is invented - the consumption chain.
The consumption chain needs to continue to “consume” Cosmos technology, which can ensure its safety and reward the Cosmos ecology simultaneously, forming a positive cycle. Currently, two consumption chains can be developed based on the Inter-Chain Security (ICS) function:
Contract Consumer Chain:
The team directly creates an EVM and @CosmWasm to support smart contract blockchain without spending time dealing with low-level blockchain code that has nothing to do with business logic and uses contract language to develop its own business. The transaction fee on the chain is paid via ATOM and shared with Cosmos Hub.
Custom Consumer Chain:
The team fully customizes the bottom layer of the consumption chain to complete more complex functions and has customizable token economics. The Cosmos delegators will continue to receive the airdrop, which means that the early Cosmos Hub can enjoy the dividends of project development.
To sum up, the former is suitable for projects that have issued governance tokens on other EVM chains to quickly build their appchains (for example, the Appchain plan is suitable for UniSwap, but the details have not been announced), the latter is suitable for complex Web3 project that is hard to be completed by smart contract.
As Vitalik said, Web3 needs more non-financial applications, but due to the limitations of smart contracts, the performance of non-financial applications in smart contract L1 is not good. The appchains with a highly free and complete development environment may align with Vitalik’s vision more.
This week's biggest security incident was the attack on the native BNB bridge of BSC. Because the BNB bridge simplifies the verification process and reduces the difficulty for attackers to forge the withdrawal proof through cryptographic means, 2 million BNBs were printed out of thin air.
However, it can be seen from the process of the escape of funds that the attackers do not seem to have a good understanding of the ecology of the chain. In addition, Binance shut down the BSC chain in time to avoid series damage.
In this attack, the lending platform Venus was the most severely affected. The attackers used BNB as collateral to lend out the stablecoin. The stablecoin of Venus was almost emptied, which means depositors of stablecoins in Venus will not be able to redeem their stablecoins.
There are currently three solutions:
The hacker pays back the money, and everything is restored as before
As the interest rate for lending stablecoins gradually rises, the hacker's BNB mortgage position will face liquidation. After the liquidation is completed, depositors can then withdraw funds.
The responsible party paid for the attack.
Biteye recommends:
The apr of the decentralized lending project is not attractive in the bear market. Once there is a problem with any of the collaterals on the lending platform, the principal deposited on the lending platform will be lost.
No one anticipated this attack, but fortunately, the price of BNB itself has not been greatly affected, and the BNB deposited by the attacker still has the real price.
As long as they wait patiently for liquidation, investors are only equivalent to forcibly locking up funds and losing part of the opportunity cost. If the price of the collateral tokens deposited by the attacker goes to zero (such as Luna as collateral), the collateral previously deposited by the depositor may never be withdrawn.
GardenLockdown —— Wolf and Sheep Game on PoS Chain
Basic Information:
Quantity: Initial G0: 5000, Subsequent G1: 5000, G2: 10000, G3: 5000
Price: Initial G0: Free for the first one, 0.01 ETH for each subsequent one, up to 5 per wallet. Follow-up: G1: 2w $Sun, G2: 4w $Sun, G3: 8w $Sun.
NFT types: plants and zombies, 90% are plants, 10% are zombies. Zombies are also divided into N, S, SR, SSR grades to stake for tokens: $Sun, total 2.5 billion, of which 1.2 billion is allocated to pledge award.
How to play: The initial G0 costs Ethereum, the subsequent NFT needs to consume $Sun, the staked plants get 1w tokens per day, and the harvested tokens need to pay 20% tax to the zombies. There is a 50% probability that all tokens will be lost if unstake.
Except for G0, the newly generated plants or zombies have a 10% probability of being stolen by the staked zombies (the level of the zombies will affect the success rate). NFTs are staked for at least 2 days, and the current return period is 2.5 days.
Summary: The game mode is optimized by avoiding the randomness problem of the wolf and sheep game. There is an upgrade mode and potential game.
( https://twitter.com/glnft_eth )
Basic Information:
Total: 5555, 4500 whitelists, 555 as game rewards, 500 team holdings
Price: Free currently
Floor price: 0.06 ETH
Team: Founder Tomoya Kreation is also the head of the kreationdigital and houseofinsomnia projects, and previously worked for a game company. Jiro is a game designer, and screenwriter, and has participated in works including Pure Magical Girl, Dragon Gyas, New Sakura Wars, etc. Artist tatsuro was previously a character designer for Capcom.
Project progress: The NFT sale has been completed, and some backgrounds of stories have been announced. However, the game has not yet launched, and its operational capabilities are a bit weak (based on activities at Twitter and discord). However, the quality of the work is not bad, and the team has a background in the game industry, so you can still follow it in the short term.
( https://twitter.com/tat_nftgame )
Risk Warning: Investing in NFT has high risks. The above project information is not an investment recommendation. Biteye has no business relationship with the above projects.
Scroll: the zk-rollup scale plan of zkEVM, and is cooperating with the Ethereum Foundation on privacy scalability. The first phase of the test network has begun. The testnet consists of a self-built Ethernet fork L1 and Scroll L2 TestNet, now you can test the bridge and swap.
Y2K Finance: The insurance protocol, mainly aimed at the price anchoring of assets such as stablecoins or stETH, wBTC, will be deployed on Arbitrium.
Timeless Finance: Income market protocol, which can stabilize or amplify income, has been deployed on multiple chains. Amplifying returns are achieved through automatic reinvestment, and stable returns are hedged against the risk of yield fluctuations by holding NYT (negative yield token) (the price of NYT is inversely proportional to the apy).
Aveo: The on-chain options trading market is similar to the decentralized Derbit, which has partnered with Ribborn.
About us
Biteye is an Web3 learning and research community that generates content and tools by community and uses DAO to govern and motivate!
WeChat group: Add admin @Biteye01 on Wechat to get invited to the group
Twitter：@BiteyeHQ
Discord：discord.gg/BiteyeCN
*Disclaimer: The content shared in this article is only for learning and exchange, does not constitute any investment advice, and does not represent Biteye's position. If you like our articles, click on the business card below to follow us!
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