In the past decade, we have seen the rise and fall and rise again of cryptocurrency.

A successor to cryptocurrency, non-fungible tokens, has dominated mainstream discourse. Non-fungible tokens act as an entry point for both artists and investors to skip the common-place rhetoric of Web 2 venture capitalists and funds. Without the middleman [banks] vast amounts of money are exchanging hands — from consumer to creator and the like.

Albeit, the causalities of the block chain are clear. While common cryptocurrencies like Bitcoin or Ethereum are wildly decentralized, this decentralization opens up a world of financial literacy, in a world of people who are largely financially illiterate. And no, I’m not trying to call people illiterate — I am saying that most people hardly think twice when they put their money in the bank, which is why you may hire an accountant or if someone steals your credit card, you may call the bank to cancel your card. But, if you are the main proprietor of your funds and there is no one safeguarding, nor coaching — a lot is at risk.

I wrote this article to address fraud — specifically, in the non-fungible space, where individuals will create corporate entities or non-fungible projects and effectively defraud their investors. This term is referred to as “Rugging”; used to describe the act of fraud. Well, I mentioned that we have experienced fraud first-hand and we are here to put a stop to it. Minitaurs was a project that was created by two founders, an artist, a developer, and an advisor [influencer]. The project, planned to be 10k total, minted 511 — half of which were paid for by the founders. The founders decided to delete the discord. As such, a potential 250 individuals were defrauded out of their money. In response, myself [the artist] and the developer decided to release the collection entirely for free, re-branded as Minitaurs Reborn.

We approached those who had minted the prior project and allowed them to mint as many as they wanted within a 24 hour period. Then, we opened it up to the public. Minting out within a minute, our volume quickly reached 150+ Ethereum within 48 hours. Which goes to show, honesty can prevail. In addition to the free mint, we have decided to re-invest all secondary sales back into the community. The roadmap speaks to a community-oriented project that attempts to reconcile the faults of two individuals.

Moving forward, we seek to honour our claims and continue to support our community as they should be supported. The moral of the story, is that fraud is prevalent and not as many endings end as happy as this one. The non-fungible space is ever changing, with new collections released daily. Do your due diligence, as you are the main protagonist in your cryptocurrency journey

If you have been affected by the previous collection, please reach out to us at minitaursnft@gmail.com with proof and we will ensure that you are compensated.

From the above graph, at the respective price changes, or the direct return of each infrastructure’s investor, the comparison between each new generation public chain and Ethereum, it is shown that the biggest contender of the fastest-growing new generations: Solana is the first, and BNB is the second to achieve the highest ROI.

Since the market value of the above major public chains has risen from January to April this year, we can see a multi-chain universe in the future, and the market value share of Ethereum is gradually declining. Ethereum, as the mainstream smart contract platform, has been declining as the occupation of the market capitalization of the overall infrastructure network. In April, we saw the new ones that emerged in the volatile April. A generation of public chains, Binance Smart Chain with Binance as its backing, Solana ecosystem, Cardano ecosystem, and Polkadot ecosystem are constantly emerging.

We refer to the opinion of Kain Warwick. In Q1 we witnessed the social experiment and concept falsification of many new generations of public chains, which brought an impact on the Ethereum community and witnessed the early days of a multi-chain future.

Since the first half of this year, in the lineup of the new generation of infrastructure networks, for example, the Binance Smart Chain has evolved its own complete ecosystem, which can be regarded as the success of a conceptual social experiment. BSC verified that decentralization may be the needs and demands of developers, rather than the needs of general users. The most direct cost-effectiveness and the direct increase in the holding of tokens have attracted users and funds to flow into BSC in large quantities, just as the funds in the liquidity pool might do not have belief or loyalty but proceed with the most favorable return on their investment or farming.

The next-generation infrastructures such as Solana, Cardano, and Polkadot have already released smart contract functions and have been or have not yet been implemented, but many future sharding protocol projects have been completed and are ready to go. The new generation of infrastructure drives the eyes of users, developers, and investment institutions to gradually depart from the high degree of ties with Ethereum economically and ideologically.

The ecosystem construction of infrastructure network will not think that developers and users will come to this ecosystem just because it has achieved decentralization in concept and technology. As a traditional smart contract platform or the largest DeFi platform, Ethereum may be late in its expense rate and efficiency reforms, unless Ethereum makes progress in scaling in the middle of this year.

From the above chart, we can see that from January to April, the major scaling solutions with the best performance in the secondary market include: Polygon ($MATIC), Celer ($CELR) Liverpeer ($LPT), Avalanche ($AVAX), Skale ($SKL) ranks ahead, but in terms of overall market cap, compared with major smart contract platforms other than Ethereum (such as BSC, Solana, Avalanche), the market cap and market attention of the Layer-2 Scaling platform are still relatively underestimated.

The current limited scale of the Layer-2 scaling plan requires new participants to have a sufficient window of time to familiarize themselves with the development environment to gain more upward space on Ethereum. Otherwise, developers will inevitably look for elsewhere to build, which indirectly drives the blockchain world to a multi-chain development universe, in which we will discuss and conclude in the full report “Thesis of Infrastructure Blockchain, Blockchain Consensus, and Future of Scaling”: Blockchain Consensus Map, Market Performance Review of Public Chain and Challenge to the Infrastructure: Time Window of Scaling

Stay tuned!

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This month’s portfolio has seen more action than usual. In order to maximize our…

As you might have already seen, we have setup a MEE6 Discord Bot that measures your engagement (we will filter spamming, or short messages afterwards such as hello, hi, gm, welcome, thanks etc…).

So I STRONGLY encourage everyone to start organically interacting with each other to create a worldwide Community!

Why? Here is the Alpha:

We gonna reward the most kind, funny, helpful and loyal participants towards both the UltiBets Protocol and the UltiBettors Community with additional incentives later on.

It can be anything, as long as it’s productive and useful for all of us, Team included! Such as:

(NOT SPAMMING!!!

if we hear of complains from other groups/protocols because of your behavior we will ban you without any further notice and you will be excluded from any Community Airdrop/Incentives)

We hope this will further increase an even more virtuous circle and positive momentum that YOU have started by joining us!

Thank you again for your support!

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