Artificial intelligence (AI) and blockchain technologies have revolutionized the way we interact with data, and the integration of these two technologies has the potential to significantly impact our society and global economy. This article will explore the implications of combining AI with Web3 blockchain technologies and their potential impact on various industries.

Blockchain Technology

Blockchain technology is a decentralized, distributed digital ledger that enables the secure and transparent transfer of information. In Web3, blockchain technology provides a platform for decentralized applications, allowing developers to create peer-to-peer (P2P) networks that enable individuals to interact directly with one another without the need for intermediaries.

The combination of AI and blockchain technology can enable new applications, such as smart contracts, that can be used to automate processes and eliminate intermediaries. This can lead to increased efficiency and cost savings in various industries, including finance, supply chain management, and healthcare.

AI and Machine Learning

AI and machine learning (ML) are technologies that enable computers to perform tasks that traditionally require human intelligence, such as recognizing patterns, making predictions, and making decisions. With the help of AI, blockchain technology can be used to analyze large amounts of data and make predictions about future trends.

In the financial industry, AI and blockchain can be used to create predictive models that can be used to make investment decisions. In healthcare, AI can be used to analyze medical records and clinical trials to identify new treatments and improve patient outcomes. In supply chain management, AI and blockchain can be used to track products from the manufacturer to the consumer, increasing transparency and reducing the risk of fraud.

Impact on the Global Economy

The integration of AI and Web3 blockchain technologies has the potential to significantly impact the global economy. The increased efficiency and transparency enabled by these technologies can lead to cost savings and increased productivity in various industries. In addition, the use of decentralized applications can reduce the need for intermediaries, which can lead to lower transaction costs and increased competition.

However, there are also potential risks associated with the integration of AI and blockchain. For example, the use of AI in decision-making can lead to bias and discrimination if the underlying data is biased. Additionally, the use of decentralized applications can make it difficult to regulate certain industries, which can lead to increased risks for consumers.

Conclusion

The combination of AI and Web3 blockchain technologies has the potential to significantly impact our society and global economy. The integration of these technologies can enable new applications, increase efficiency, and reduce the need for intermediaries. However, there are also potential risks associated with the use of these technologies, and it is important to carefully consider these risks as we move towards a more decentralized future.

The gaming industry has come a long way since its inception and has seen rapid growth in recent years. With the rise of digital technology, the gaming industry has expanded to include not just console and PC games but also mobile and online games. However, despite its growth, the gaming industry still faces challenges such as the centralized control of in-game assets and the lack of interoperability between different games. This is where GameFi, a decentralized platform built on the blockchain, comes into play.

GameFi aims to solve these challenges by offering a decentralized platform that allows players to own their in-game assets and use them across multiple games. This opens up a whole new world of possibilities for gamers, as they can now take their in-game assets with them from one game to another, just like they would with physical possessions. The platform also enables players to trade their assets with others, providing a new source of revenue for both players and game developers.

One of the significant advantages of GameFi is its use of blockchain technology, which ensures that all transactions are secure and transparent. This eliminates the need for a central authority to control the in-game assets and ensures that players have complete ownership and control over their assets. The platform uses smart contracts to enforce the rules and regulations of the game, providing a fair and transparent gaming experience for all players.

Another key feature of GameFi is its use of NFTs (Non-Fungible Tokens), which are unique digital assets that represent a specific item or collectible in the game. These NFTs can be used as in-game items, such as weapons, armor, or collectibles, and can also be traded with other players. This provides a new level of excitement for gamers as they can now collect unique and rare items that have real value outside of the game.

In conclusion, GameFi offers a promising solution for the gaming industry by providing a decentralized platform that allows players to own and control their in-game assets. The use of blockchain technology and NFTs opens up new opportunities for players and game developers, bridging the gap between gaming and the blockchain. With its unique features, GameFi has the potential to revolutionize the gaming industry and provide a fairer and more transparent gaming experience for all.

Author ChatGPT

Join the GTON Capital team at the key events of this autumn.

GTON Capital is participating in the key events in MENA - Beconomy, Future Blockchain Summit and GITEX,  World Blockchain Summit and Web3Dubai. If you’re an attending developer, researcher, crypto investor, or interested in learning and entering the Web3 space, please stop and say hello to the GTON Capital team.

We’ll be at Beconomy on October 4-5, on FBS and GITEX from October 10 to 14, WBS on October 17-18 and on Web3Dubai from November 17 to 18. All events are great opportunities for the developer community and investors in Dubai to meet with the GTON Capital team and find new options for collaboration. During events, we’ll be giving keynotes about how GTON Capital changes the current web3 landscape and can be implemented in metaverses, hosting workshops on building on rollups and participating in panel discussions with the industry leaders.  Prior to Web3Dubai (November 16) , we’ll also be hosting an Opening Party featuring drinks, talks, and a chill time.

Event Details: Growing the GTON Ecosystem

Event: Beconomy

Dates: 4-5 Oct       

Venue: Le Meridien Dubai Hotel & Conference Centre

Website: https://beconomydubai.com/

Swing by the GTON Capital booth to connect with the team and receive fun gifts. Two lucky booth visitors will also win tickets to Future Blockchain Summit & GITEX. 

Alex Pipushev, GTON Capital’s founder, will give a keynote speech titled “Reimaging scalability and utility of Web3 '' on the main stage and participate in the panel discussions.

Event: Future Blockchain Summit & GITEX

Dates: 10-13 Oct          

Venue: DWTC Dubai World Trade Center

Website: https://futureblockchainsummit.com/ and https://www.gitex.com/

Joining this spectacular event is a great opportunity to present GTON Capital and  GTON Network mainnet to the global technology leaders. The list of participants and sponsors is so impressive that it would take too long to list them all – you better head to the sponsors page. If you happen to visit FBS&GIXET this year, pop along to our booth to talk to our team about business development and ask questions covering technical subjects. We will be happy to guide you through launching your own dApp on GTON Network.

This time, the GTON Capital team will be speaking about metaverses. Alex P will give a presentation on “How to scale metaverse infrastructure with rollups” on the main stage and host a workshop on “Security Rules You Should Know When Using Web Applications”. Watch us in the panels on multiple topics as well! 

We’re so excited to meet various start-ups, developer teams, or other attendees for new amazing partnerships.

Event: World Blockchain Summit

Dates: 17-19 Oct          

Venue: Atlantis, The Palm

Website: https://worldblockchainsummit.com/dubai/ 

Finish the October conference timeline at World Blockchain Summit. On October 17-19th, the team has planned an insightful keynote, great conversation and a booth.

Alex P will be hosting the keynote presentation. Make sure to attend as he’ll be covering utility and scalability of web3 ecosystems and GTON Network’s role in unifying  infrastructure for web3.

Event: Web3Dubai

Dates: 17-18 Nov          

Venue: Le Meridien Dubai Hotel & Conference Centre

Website: https://www.web3dubai.org/

Web3Dubai will be your last chance to connect with the GTON Capital team in Dubai in 2022. From November 17 to 18, advisors and mentors from GTON Capital will be helping the developer community create cool new applications on GTON Network mainnet within the Web3Dubai hackathon. For those that stop by, we’ve prepared a special T-shirt and gift box drop for recharging at the hackathon.

As always, meet the team at the main stage with a keynote, a panel and join a workshop kicking off new applications on GTONNet.

About GTON Capital

GTON Capital builds infrastructure to advance digital capital markets including GTON Network — L2 Ethereum rollup with $GCD stablecoin as a native currency, Pathway — algorithms for the pricing of governance tokens, set of mutually reinforcing DeFi protocols, DONs, and more.

By combining cutting-edge achievements of Web 3.0 technology, GTON Capital creates a more advanced and stable foundation for DeFi development.

🌐 Official links:

Twitter |Telegram news | Telegram chat | Discord | Mirror | Blog

In this post, based on a recent livestream, Alex Pipushev, the founder of GTON Capital, explains how lending protocols work in centralized and decentralized finance.

Lending protocols – also referred to as money markets - play a significant part in the decentralized finance (DeFi) industry, as they enable users to lend and borrow assets in an immutable, transparent and decentralized way.Conventionally, money markets were centralized structures facilitating deals between lenders and borrowers.

Borrowers are those users who approach money markets to get a short-term loan that they need, for instance, to get extra leverage in trading. Meanwhile, lenders are individuals who have assets they want to earn yield on. Borrowers are required to pay interest on the loan to the lender and a fee to the money market.

Borrowers put up other assets as collateral and, if they can't repay the loans they have taken, the lenders can sell the collateral to recover the loaned funds – a process called liquidation. However, if the loan is successfully repaid, the collateral is returned to the borrower.

Let’s consider an example of a trade on a crypto lending platform that would be concluded in centralized finance (CeFi), or CeDeFi – protocols that pretend to be centralized but their backend servers hardly used smart contracts and therefore lack transparency.

In the example, a user borrows 100 USDT - an equivalent of $100, putting up BTC as collateral. The value of the collateral has to be higher than that of the borrowed amount due to the volatile nature of crypto, which is called overcollateralization. So, the borrower has to deposit the equivalent of $150 in bitcoin as collateral. Overcollateralization needed to prevent collateral from liquidation due to price volatility. However if collateral price is falling down too much, it has to be liquidated and liquidators are getting extra fee for liquidating potentially uncollateralized loans.

As soon as the loan period ends, the borrower repays the loan, also adding interest on top of 100 USDT they originally borrowed. The lender gets back their 100 USDT plus 10 USDT in interest, of which the lending platform deducts its fee.

Upon repaying the loan, the borrower collects $150 in bitcoin, which they originally put up as collateral. Or, to be more precise, the borrower collects the exact amount in bitcoin that they put up as collateral at the time of taking the loan, and since that time, the bitcoin's value could have changed.

Meanwhile, decentralization and blockchain technology open up new opportunities for lending platforms. Unlike CeFi/CeDeFi, lending platforms in decentralized finance (DeFi) are powered by blockchain technology and run on smart contracts, which enables them to offer users several additional features.

DeFi lending protocols are immutable, decentralized, permissionless, non-custodial and composable, Alex explained, adding that overcollateralization is controlled by smart contracts.

Our next example illustrates the process of borrowing crypto on a DeFi lending platform, which is in many ways similar. However, USDC is a more popular stablecoin for DeFi lending protocols than USDT, while ETH is more often used as collateral than bitcoin.

A user borrows 100 USDC, depositing an equivalent of $150 in ETH as collateral. Upon the end of the loan period, the borrower repays 100 USDC plus interest and withdraws their ETH. The 100 USDC is repaid to the lender with a 10 USDC interest, paying a fee to the lending platform.

Meanwhile, DeFi also facilitates another approach to crypto lending, in which new stablecoins are minted when a borrower deposits coins as collateral.

A DeFi lending protocol can enable users to not only lend and borrow stablecoins, but also mint stablecoins," Alex P explained during the livestream. "That principle was used by one of the first stablecoins, the MakerDAO protocol's DAI. Originally, only ETH could be used as collateral for DAI, but now, it could be collateralized by multiple cryptocurrencies. When putting up collateral, a borrower on MakerDAO opens a collateral debt position (CDP), and stablecoins that are supposed to be borrowed are minted."

The same approach is used by GCD, the GTON ecosystem's stablecoin.You can use the protocol's native token GTON or ETH as collateral and mint GCD, a stablecoin.

**

**

About GTON Capital

GTON Capital builds infrastructure to advance digital capital markets including GTON Network — L2 Ethereum rollup with $GCD stablecoin as a native currency, Pathway — algorithms for the pricing of governance tokens, set of mutually reinforcing DeFi protocols, DONs, and more.

By combining cutting-edge achievements of Web 3.0 technology, GTON Capital creates a more advanced and stable foundation for DeFi development.

🌐 Official links:

Twitter: https://twitter.com/GtonCapital

Telegram news: https://t.me/GtonCapitalAnn

Telegram chat: https://t.me/+k0X5TD592bAyZDhi

Discord: https://discord.com/invite/9WRYK4wVxw

Mirror: https://mirror.xyz/0x8c8b81208C7B7F71CD3279A31F48F1A37bda5df0

Blog: https://www.blog.gton.capital/

In this post, we will have a look at DeFi lending, one of the most rapidly developing and promising segments of the crypto space.

Over the last couple of years, crypto lending – releasing crypto-backed loans using other crypto as collateral - has emerged as one of the main areas in decentralized finance (DeFi). Numerous lending protocols have been launched whose combined total value locked (TVL) reached $46.8 bln in 2021, showing more than 500% growth, year on year.

Collateralization

To hedge against market volatility, loans issued by lending protocols have to be over-collateralized. It means that for each loan, a borrower needs to put up collateral whose value will be higher than that of the loan. If, for instance, a user needs to borrow an equivalent of $100 in crypto, they have to put up at least $120 as collateral.

Normally, collateralization rates on major lending platforms range between 120% and 150%, depending on the expected price appreciation and volatility.

If a debt position is considered at risk - which normally happens when the position falls below the minimum collateralization ratio - collaterals can be forcefully liquidated to cover the outstanding debt. This liquidation mechanism makes it possible for loans to be taken out anonymously and trustlessly.

Overcollateralization serves to mitigate the risks of a protocol's insolvency in case many borrowers default on their loans simultaneously.** **

Main players

Since the lending segment gained prominence around 2020, several projects have emerged as its undisputed leaders, maintaining this status to the present time.

Based on 2021's TVL data, the top three lending protocols were Maker, Compound, and Aave with TVL at $18.3 bln, $12.8 bln and $10.8 bln and total outstanding debt at $9.1 bln, $7.7 bln and $6.5 bln, respectively.

Maker is primarily known for the biggest decentralized stablecoin, DAI. Meanwhile, Compound and Aave are money markets that offer algorithmically adjusted rates based on the utilization rates of lending pools. These protocols represent different approaches to lending and borrowing: while the first is used to create a CDP (Collateral Debt Position) on a smart contract and generate a stablecoin, the latter create money markets for lenders and borrowers aka pools through which they do pool-to-peer trades.

GTON Capital money protocol is used to create an overcollateralized GCD stablecoin through a multi-collateral CDP algorithm so can be referred to the first category.

Issues and tradeoffs

Despite the heavy dominance of long-established lending protocols, the lending landscape is becoming more diverse as new lending platforms implement additional features and target various niche audiences. But most attempts to tweak the existing lending models come with a tradeoff.

C.R.E.A.M., which is part of the yearn ecosystem, attempted to onboard long-tail assets to its money market, which, however, presented some risks to the protocol's integrity.

The protocols Alchemix and Abracadabra took on yield-generating positions as collateral to mitigate capital inefficiency to a certain extent while bringing in composability risks.

Meanwhile, Kashi and Fuse from the SushiSwap and Rari ecosystems, respectively, introduced isolated lending pairs that insulate protocol integrity risks but saw lesser capital efficiency as a result.

At the same time, TrueFi was the first on-chain uncollateralized lending platform that claimed to maximize capital efficiency for creditworthy borrowers.

Prospects moving forward

One direction that lending protocols are likely to actively explore is peer-to-peer lending.

Currently, institutions seem to have a firm grip on the lending segment. But facilitating access to individual lenders through DeFi could allow protocols to offer higher yields, doing what blockchain is generally expected to do - eliminating the middle men. In fact, by 2025, the peer-to-peer lending market is expected to reach $1 trillion in value, according to Venture Beat.

Another potentially promising area in which DeFi lending could make a difference is tokenization of real-world assets. As opposed to remaining a self-referential system powered by speculative activity, lending protocols could embrace real-world assets, such as buildings represented on the blockchain and used as collateral for loans. One major issue that would need to be solved though is the creation of reliable oracles – tools enabling data exchange between blockchain and the real world.

In addition, DeFi lending could potentially play a major role in serving the unbanked and underbanked. However, in that case, lending protocols will have to abandon anonymity and adopt the use of real names. That would make lending protocols compliant with regulators' requirements. But the issue of preserving privacy of users who are no longer anonymous will have to be dealt with.

About GTON Capital

GTON Capital builds infrastructure to advance digital capital markets including GTON Network — L2 Ethereum rollup with $GCD stablecoin as a native currency, Pathway — algorithms for the pricing of governance tokens, set of mutually reinforcing DeFi protocols, DONs, and more.

By combining cutting-edge achievements of Web 3.0 technology, GTON Capital creates a more advanced and stable foundation for DeFi development.

Website | Twitter | Telegram | Discord | GitHub | Youtube | Mirror | Blog |

GTON Capital is building an ecosystem of blockchain products whose combined features will make Web 3.0 more sustainable and value-driven.

The GTON Capital team is building an ecosystem of innovative Web 3.0 infrastructure and products by bringing together the best achievements of decentralized web technologies.

Vision

The vision of the GTON team is a new phase in the evolution of the cryptocurrency landscape, with decentralized stablecoins and scalable smart contract execution layers at its core, enabling millions of dApps to improve the experience of billions of users.

We are currently facing a "Cambrian explosion" of alt-L1 and L2 protocols, DeFi dApps and NFTs, GameFi and X2Earn business models, and metaverses. Despite the fact that it all started as brand new decentralized currencies powered by PoW consensus, such as BTC-Bitcoin and ETH-Ethereum, these currencies cannot be adopted as means of payment for Web3 users because of their price volatility. This is why stablecoins pegged to the world's major reserve currencies and assets have changed the game and accelerated the adoption of Web3. We see the same issue with ETH being used as a transaction currency after the hundredfold price spike. Ethereum has become even more expensive for users because of network congestion. This problem needs to be solved to facilitate adoption and it is now being addressed by so-called rollups.

This is where GTON Capital plays its strategic role in reimagining the utility and scalability of Web3 by creating an Ethereum Rollup protocol with a decentralized stablecoin as the gas currency.

Goal

GTON Capital's ultimate goal is to empower millions of users to invent and explore new experiences in decentralized digital capital markets. GTON Capital connects and redefines business models, community structures and collaborative creativity in an effort to create a more sustainable, equitable and efficient future for the global economy.

GTON Protocol is set to become the technological foundation for a cutting-age, diverse ecosystem for more sustainable and engaging financial, gaming, social and other types of applications.

Protocol

GTON Protocol represented by three main components:

Stablecoin

• GTON Capital Dollar is a multicollateralized stablecoin protocol with a real use case for use as the native currency for the GTON Network rollup.

• GCD is a stabelcoin that is algorithmically soft-pegged to the US dollar via smart contracts. It uses tokens from another decentralized cryptocurrency as collateral to issue new GCDs. ETH, BTC, PAXG and other liquid currencies can be used as collateral. The design principles are similar to DAI, GHO, MIM, sUSD, LUSD, USDP and other crypto-collateralized stablecoins.

Rollup

• GTON Network is an Ethereum Optimistic Rollup protocol that uses the GCD stablecoin as its gas currency.

• GTONNet is an EVM-compatible network that supports the execution of smart contracts written for Ethereum mainnet and other EVM-based networks. All other tools for users and developers are also integrated into GTONNet, such as MetaMask wallet, HardHat and bridges. Users get the same experience as with Arbitrum, Optimism, Metis and Boba, the major difference being that they do not need to use volatile assets for transactions, but can use the GCD stablecoin instead.

Staking

• GTON Staking is a tool for protocol contributors that allows them to capture the value from the ecosystem of products built on GCD and GTONNet.

Infinite scalability of the Rollups and GTON protocol

Although GTONNet is a L2 on top of Ethereum mainnet, the rollup technology can be scaled recursively to L3/4 and other layers. This means that businesses can run their own permissioned L3s on top of the Rollup, or dApps can run L3s to scale the user base if they need more network capacity.

This is how the decentralized stablecoin and the scalable smart contract execution layer from GTON Capital it’s playing its strategic role for Web3 to enable millions of dApps such as DeFi, Games or CyberSport to make the lives of billions of users happier.

Strategy

The operational goals of GTON Labs, the development company behind GTON Protocol open software,  as well as the overall GTON Ecosystem’s end goal, is to enable growth in the use of the GTON Stablecoin (GCD) and the L2 blockchain (GTON Network). To do so, users will be given a unique experience in playing web3 games, trading NFTs and gaining value from DeFi services, with security derived from Ethereum mainnet.

About GTON Capital

GTON Capital builds infrastructure to advance digital capital markets including GTON Network — L2 Ethereum rollup with $GCD stablecoin as a native currency, Pathway — algorithms for the pricing of governance tokens, set of mutually reinforcing DeFi protocols, DONs, and more.

By combining cutting-edge achievements of Web 3.0 technology, GTON Capital creates a more advanced and stable foundation for DeFi development.

Website | Twitter | Telegram | Discord | GitHub | Youtube | Mirror | Blog |

In this post, we'll discuss the main factors to be considered while choosing a blockchain platform.

The choice of a platform for deploying your dApp or running blockchain-based solutions depends on a number of factors, which are considered below.

Deployment/Protocol

One of the primary factors to look at is the blockchain's consensus algorithm. The fact that a specific blockchain uses Proof of Work or Proof of Stake determines its main features, including, for instance, its governance setup.

The next factor to be considered is cryptography used by the blockchain. What libraries does it use and support? For instance, Ethereum uses secp256k1, while Cardano and Monero use Edwards25519.

Another thing to be taken into account is transaction processing methodology of the blockchain in question. When are transactions ordered, validated and executed? For instance, in the Ethereum network, transactions are sent to validating nodes to be validated before being executed and written to the relevant block.

Scalability

The next group of factors deals with the blockchain's ability to support higher processing rates – scalability. For instance, Ethereum, the most popular public blockchain, processes up to 30 transactions per second (tps). For Cardano, the maximum throughput is 250 tps, and Solana processes roughly 3,000 transactions per second.

Requirement for scalability depends on a specific solution or dApp that you plan to deploy on the blockchain. Some types of solutions don't require very high scalability. But, for instance, dApps or solutions related to payments or any other area or finance will by default require higher scalability.

Security and privacy

Security is one of the major concerns when it comes to blockchains, as malicious attacks could lead to stolen funds or damage your business in many other ways.

When choosing a blockchain platform, carefully study security track records of all platforms you have in mind. Have any of them recently seen critical vulnerabilities that resulted in losses of their users' funds or any other issues?

It is also highly advisable to check the platform's audit history. Has the platform, including all of its components, been audited by known and trusted auditing projects?

Equally important are privacy issues. What privacy mechanisms for field obfuscation does the platform use? Is it possible to share specific fields of data stored on the platform with only specific users? Is it possible to run a business logic that compares values of data fields without revealing the actual data?

It's advisable to pay attention to confidentiality mechanisms used by the platform. Is it possible to automatically rotate public keys to make sure that the end user receiving information won't be resolvable to a known identity?

Another concern is privacy for senders. Here, a number of important questions need to be addressed. Is it possible to avoid sharing a transaction with all parties in cases where the transaction is intended to be seen only by specific identified parties?

Tamper-resistance is another characteristic to which you should pay attention. You need to know if a blockchain in questions allows a user to change your local node state and history. If a transaction or its state were to be removed, what would the impact be – like, for instance, would everything on the platform go out of sync?

And the final consideration in the area of privacy is transaction recovery. What is the process for recovering a transaction by a node on the platform you are looking at? If transactions are not fully distributed to all parties, how is the latest agreed upon version going to be downloaded?

Developer experience

Next, you need to take developer experience into account, as running your dApps or other solutions on the blockchain will largely depend upon the specifics of smart contract operations.

One of the main factors to consider is smart contract languages used on the platform. Is a specific blockchain's smart contract language popular enough? Has it been thoroughly tested? Does it have a substantial community?

You'll also need to consider what smart contract standards and libraries the platform uses and if there are widely agreed-upon implementations of functions for token standards, such as, for instance, ERC-20 or ERC-721on Ethereum.

Smart contract upgradability is another major issue. What is the process for updating applications? Does the platform have thoroughly defined patterns for upgrading smart contract code?

Then, you will also have to look at how smart contracts are deployed on the blockchain - by whitelisted addresses, nodes, a registered entity, such as a business network added to the blockchain, or in another way? Are node-level permissions required to deploy dApps on the platform?

You may also want to look at how real-world data is delivered to the blockchain – what oracles are used?

Another consideration that could have an impact on your decision regarding the choice of blockchains is interoperability within dApps and networks. Can a dApp deployed on the blockchain call another dApp? Can the blockchain or its sidechain reference data from a tethered network?

Functionality

Blockchain platforms can vary significantly in their functionalities. Some platforms, for instance, would be more suitable for applications that rely on smart contracts for simplicity and transparency in interactions between parties, while others could be better suited for payments and financial transactions.

You may also want to look at adoption metrics for blockchains. A blockchain that has been adopted by more projects and dApps is more likely to be regularly upgraded and developed.

Finally, it would be advisable to have a look at the platform's capability for governance. Decentralized autonomous organizations (DAOs) are widely used for governance of onchain projects. Therefore, you may want to check if any of the projects deployed on the projects run DAOs.

About GTON Capital

GTON Capital builds infrastructure to advance digital capital markets including GTON Network — L2 Ethereum rollup with $GCD stablecoin as a native currency, Pathway — algorithms for the pricing of governance tokens, set of mutually reinforcing DeFi protocols, DONs, and more.

By combining cutting-edge achievements of Web 3.0 technology, GTON Capital creates a more advanced and stable foundation for DeFi development.

Website | Twitter | Telegram | Discord | GitHub | Youtube | Mirror | Blog |

In this post, we are looking at blockchain oracles, which deliver real-world data to the blockchain.

One major limitation of smart contracts is their inability to connect with systems outside of their native blockchain to fetch real-world data or send data to an external system.

The reason is that, by design, blockchains are isolated from external systems. This ensures their major advantages, including the immutability and security of data.

However, smart contracts and dApps require significant amounts of real-world data, such as exchange rates, sports results or meteorological information. That data is referred to as "offchain," as opposed to "onchain" data – that, which is recorded on a blockchain.

Oracles as a solution

Blockchains' inability to communicate with the real-world creates a major problem, which is solved by oracles - infrastructure elements that operate as data bridges between the offchain and onchain environments.

Real-world data fetched by oracles - from exchange rates to temperature or flight information - enable smart contracts and dApps to operate efficiently. Meanwhile, oracles can also operate in the opposite direction, supplying blockchain data to the external world.

Often, oracles operate as decentralized oracle networks (DONs). A DON is a system of nodes, each of which fetches the same type of data - for instance, exchange rates for a specific currency pair. To ensure the accuracy of data, the nodes have to reach consensus on each piece of data.

Those pieces of data are put into a smart contract and thus form a data feed which in our example contains the entire history of rate changes in the cryptocurrency pair, recorded to the blockchain. That data feed can be later read by a dApp that requires the exchange rate information.

To reach consensus between nodes, various models can be used. In the reputation-based model, a node's reputation is based on the accuracy of provided data, which is checked against data provided by other nodes. Another model is based on curation of nodes by the community to determine if a specific node provides accurate information.

Among the best known projects providing oracle solutions are Band Protocol, DIA (Decentralized Information Asset) and Chainlink.

Application areas

Arguably, the most popular segment using blockchain oracles is decentralized finance (DeFi), as it needs access to data about financial assets and markets. For instance, decentralized money markets use feeds from price oracles to check if a user's positions is undercollateralized and should be liquidated. Along the same lines, synthetic asset platforms use oracle feeds to track the value of tokens pegged to real-world assets.

Oracles also enable non-financial use cases for smart contracts, including NFTs that can change their shape and form depending on external events, such as weather or the time of day.

Another use case for oracles are on-chain games and contests that require verifiable randomness – something that blockchains cannot provide. The issue is solved by oracles fetching offchain random data to the blockchain. Randomness provided by oracles can also be used in various token drops.

Meanwhile, prediction markets use oracles to supply data from sporting games and other events on which bets are placed.

Oracle types

Oracles can be broken down into several categories, based on different characteristics.

Inbound and outbound oracles

Arguably, the most often used oracles are those which fetch data from the real-world and supply it to a blockchain to be used by smart contracts and dApps. This type of oracle is called "inbound" or "input." Data fetched by inbound oracles ranges from currency exchange rates to sporting games' results and weather data.

Conversely, oracles that enable smart contracts to send commands to offchain systems in order to execute a certain action, are referred to as "outbound" or "output" oracles. An outbound oracle can, for instance, inform a bank that a payment should be made or send a signal to unlock a vehicle rented onchain to an IoT system.

Centralized and decentralized oracles

Another major criteria is based on who controls an oracle. Obviously, centralized oracles are those which are controlled by a single entity, serving as the sole data source for a smart contract. The use of a single source could be risky as the contract will have to rely exclusively on the entity running the oracle.

In contrast, decentralized oracles operate on the same principles, as public blockchains, aiming to minimize counterparty risks. As data supplied by decentralized oracles does not depend on a single source, it is set to be much more reliable. In case of discrepancies between data from different sources a final output is reached through consensus of all data sources.

Decentralized oracles are also referred to as decentralized oracle networks (DONs) as they basically consist of a network of oracles.

Hardware and software oracles

These two types of oracles differ in what kind of data they deliver. Hardware oracles fetch data from the physical world, such as that from camera motion sensors or radio frequency identification (RFID) sensors. Meanwhile, software oracles fetch real-time data, including exchange rates or travel information

Compute-enabled, or computation oracles

Sometimes, computation for a specific task performed by a smart contract turns out to be too expensive due to gas costs or could not be done onchain due to technical or legal limitation.

This issue is solved by compute-enable or computation oracles. They fetch data to an offchain system that performs the computation, after which the outcome is delivered back to the blockchain.

Cross-chain oracles

Cross-chain oracles are those which can receive and send data and assets between different blockchains.

Security concerns

As bridges between the offchain and onchain worlds, oracles may present a security risk that should be taken into account. If an oracle is hacked, the execution of smart contracts that oracle feeds could be in jeopardy.

Also, while selecting an oracle, its trust model has to be thoroughly considered. A smart contract's security can be compromised if it is exposed to potentially inaccurate feeds from a smart contract.

The use of decentralized oracles solves the latter issue, but, in any case, the selection of an oracle has to be done very carefully.

GTON Capital's DON

GTON Capital is currently building its own DON. It will operate as a fork of Chainlink, run and maintained by the GTON Capital team.

In addition to Chainlink data feeds, GTON Capital's DON will receive data feeds from DIA and Band, using the two projects' public APIs. GTON DON's node will fetch data from the APIs and record it to GTON Network. 

The main use cases for GTON Capital's DON will be data for prediction markets and exchange rate data that will help maintain GTON Capital's upcoming stablecoin's peg ($GCD) to the US dollar.

About GTON Capital

GTON Capital builds infrastructure to advance digital capital markets including GTON Network — L2 Ethereum rollup with $GCD stablecoin as a native currency, Pathway — algorithms for the pricing of governance tokens, set of mutually reinforcing DeFi protocols, DONs, and more.

By combining cutting-edge achievements of Web 3.0 technology, GTON Capital creates a more advanced and stable foundation for DeFi development.

Website | Twitter | Telegram | Discord | GitHub | Youtube | Mirror | Blog |**

This post features the key takeaways from one of the crypto space's most important events.

The EthCC conference positions itself as a major event for hardcore Ethereum developers and builders to hack, code and talk shop. However, EthCC turns out to also be a perfect opportunity for networking and business development. In any case, it wasn't an event GTON Capital could miss out on.

One thing that was noticeable this year, was a substantial decline in activity and presence of VCs, which had several explanations. First, the conference ran at a difficult time for the crypto industry. Major projects, such as Three Arrows Capital, Celsius and Voyager Digital have recently filed for bankruptcy, and the effect on many funds involved in the space has been brutal.

Second, a series of recent crypto fiascos coupled with the worst bear market in three years have shaken overall confidence in the crypto sector, also raising questions about the current state and future of DeFi.

However, those who did come to the conference didn’t seem stressed. The vibe at EthCC was overwhelmingly positive, with most people excited about the fact that a bear market translates into no grifters as there’s no fast and easy profit to be made.

For the entire week, participants divided their time between serious activities and hard partying. In fact, EthCC is much more than just a conference, as it traditionally features many social events, in addition to conference-format stuff.

 With smaller, more niche events, like Metaverse Summit or Web3 Conference, added, the EthCC week emerges, also featuring numerous business breakfasts and brunches and, of course, parties. 

 And these are the main takeaways from the conference.

• EthCC remains a platform for major announcements and releases. This year, Aave and Curve made stablecoin announcements, and Ethereum revealed a more specific timeframe for its long-anticipated switch from Proof of Work to Proof of Stake, while Vitalik Buterin claimed that the switch will boost the network's throughput to 100,000 tps.

• Adoption of various DeFi solutions is stepping up, but when it comes to the blockchain space, cryptocurrencies remain front and center.

• Ethereum remains the reigning king of the DeFi space, as the lion's share of projects are still powered by Ethereum.

• However, Polygon has emerged as a cheaper alternative to Ethereum, having achieved what Tron and Binance Chain were unable to.

• Rollups remain the most promising type of scaling solutions as they can be deployed on top of Ethereum and other L1 networks. In addition, rollups can run on top of other rollups (app-specific rollups).

• Decentralized stablecoins are still a big thing, which the announcements of new stablecoins from Aave and Curve prove.

• The space is coming to the realization of the fact that regulation is an inevitable part of its life. This leads to increased communication and collaboration between projects and regulatory agencies - a trend that is likely to only strengthen going forward. 

• The concept of regenerative finance (ReFi) was floated and could become a new hot thing in the Web3 space. The idea behind ReFi is that crypto could “regenerate the world” and provide solutions to real-life issues by means of various activities - from tokenizing investment in green initiatives, such as tree planting, to using blockchain for carbon credit trading.

• The question “Is the future rollup-centric or multi-chain?” seems to be answered. Now it’s clear that we’re going to need more than one chain. It will no longer be a case of ‘winner takes all’. In the new multi-chain world there will be various different blockchains, which means more use cases and layer 2 roll-ups connected by bridges.

Overall, this year's EthCC, in addition to helping establish promising partnerships and contracts, proved that GTON Capital is ahead of trends and has chosen the right path, stack and vision.

** **

About GTON Capital

GTON Capital builds infrastructure to advance digital capital markets including GTON Network — L2 Ethereum rollup with $GCD stablecoin as a native currency, Pathway — algorithms for the pricing of governance tokens, set of mutually reinforcing DeFi protocols, DONs, and more.

By combining cutting-edge achievements of Web 3.0 technology, GTON Capital creates a more advanced and stable foundation for DeFi development.

Website | Twitter | Telegram | Discord | GitHub | Youtube | Mirror | Blog |

In this article, we are looking at some L2 solutions that aim to solve the Ethereum network's scalability issue.

Over the past few years, scalability has been the main issue with the Ethereum ecosystem, resulting in exorbitant transaction fees that could run into hundreds of dollars.

Responding to this scalability challenge, a number of projects have offered scaling solutions built around the Ethereum network’s existing security profile. Basically, those solutions formed another layer on top of Ethereum and are therefore called layer-2 (L2) solutions as opposed to layer-1 blockchains, such as Ethereum.

Among L2 solutions, rollups have emerged lately as the most promising. The idea behind rollups is that hundreds of transactions are bundled into batches - or "rolled up," hence the name "rollups." Each of those batches is subsequently executed on an L2 network and then finalized as a single transaction on Ethereum. As a result, the fee charged on the execution of the transaction is shared between all the senders, and is small for each of them.

Rollups are more popular then another scaling solution for Ethereum, sidechains. There is one clear advantage of rollups over sidechains. Sidechains rely on validators to make sure that a transaction has been executed on the sidechain. Because of that, sidechain users are much more exposed to centralization risks and reliability risks that come from the use of validators.

Still, rollups have drawbacks, as well. At up to $1, fees for rollup transactions are still relatively high compared with alternative layer-1 networks that have fees in just fractions of a cent. Also, rollups put extra hassle on users requiring them to bridge assets from L1 and wait for hours and even days for withdrawal to be complete.

Among the most popular L2 solutions are Optimistic Rollups, ZK-Rollups and Validium.

Optimistic Rollups

Optimism was founded by former Plasma Group researchers to focus on the development of Optimistic Rollups. Among the earliest projects deployed on the Optimism network was, for instance, Uniswap. More recently, dozens of leading projects expanded to Optimism.

The Optimism team has been focused on closely replicating Ethereum's development environment. One of Optimism's major advantages is compatibility with Ehtereum smart contracts. Optimistic rollups are generally compatible with the EVM and support smart contracts written in Solidity, Ethereum's smart contract language. Still, for different networks, the degree of compatibility might vary.

In addition to Optimism, Optimistic Rollups are used by other L2 platforms, including Polygon.

The GTON Capital team also considered Optimistic Rollups a very promising solution and is building GTON Network based on Optimistic Rollups.

Advantages

Cost-efficiency: Optimistic Rollups makes transactions on the network 50- to 500-fold cheaper than those executed on Ethereum.

Security and decentralization: transaction data is stored on the Ethereum network, which makes it secure and decentralized.

Compatibility: any action could also be done with Optimistic Rollups, as the tech is compatible with EVM and Solidity.

Drawbacks

Optimistic Rollups have a longer withdrawal period than ZK-rollups. Withdrawal from Optimism to Layer 1 typically takes one week due to potential fraud challenges.

Possible vulnerability to economic attacks.

ZK-Rollups

Zero-knowledge (ZK) tech has been applied to blockchain technology since the the emergence of zCash, a privacy-focused payments network, back in 2016. ZK preserves privacy by enabling one party to prove to another party that they know something without revealing exactly what they know.

In L2 scaling solutions, ZK proofs are used to enhance scalability. Although the creation of a proof and the execution of its related transactions may be computationally intensive, verification of proofs remains computationally light.

As a result, the process of confirming the truth of transaction history, which is akin to consensus on layer-1 platforms, can remain highly decentralized - even though the actual transaction execution and proof generation could be centralized.

ZK-Rollups typically post to L1 state differentials - or changes in account balances of entities involved in a transaction within a batch time period - and validity proofs. If batches only include changes in state - as opposed to complete transaction data - they cannot be used to see the entire transaction history.

Let's consider an example of how differentials work. Assume Alice, Charlie and Bob have 5 ETH each. Alice sends 2 ETH to Bob before the next batch is posted on Ethereum. Subsequently, Bob transfers 2 ETH to Charlie. In this case, a ZK-Rollup data batch will only include state differentials: Alice's balance decreased by 2 ETH and Charlie's balance increased by 2 ETH. But the data batch won't include intermediary transitions, such as Bob's, as his account balance didn't change.

Two most popular ZK-based systems are ZK-SNARKs and ZK-STARKs - respectively Zero-Knowledge Succinct Non-Interactive Argument of Knowledges and Zero-Knowledge Scalable Transparent Arguments of Knowledge.

One of the best known projects developing ZK-based L2 solutions is Matter Labs, which built zkSync, a ZK-Rollup that facilitates transfer of ETH, ERC-20 coins, swaps and NFTs.

Advantages

Faster finality time than those of Optimistic Rollups, as the state is immediately verified after sending the proofs to Ethereum.

ZK-Rollups are not vulnerable to economic attacks.

Drawbacks

Absence of EVM support for some ZK-Rollups.

Validity proofs are too intense to compute, which makes ZK-Rollups not worth it for apps with insignificant on-chain activity.

A possibility for an operator to influence transaction ordering.

Validium

Validium networks are similar to ZK-Rollups as they use validity proofs. The difference, however, is that they post only state roots - heavily compressed versions of their respective network's state - but don't post transaction data or state differentials to L1.

For validity proofs, Validium solutions use a data availability committee (DAC), or a group of entities that are incentivized -  using reputation-based schemes or specific financial incentives - to be reliable providers of transaction data on their respective chains. A DAC quorum is needed to approve the validity of state updates and advance a Validium-based chain's state.

Among the most promising solutions using Validium tech are StarkWare's StarkEx, as well as DeversiFi, Immutable X and Sorare.

Advantages

Meanwhile, when it comes to benefits, for the same reason that data is not published to layer 1, Validium-based networks are anticipated to be even more cost effective than Optimistic and ZK-Rollups over the long-term.

Drawbacks

One of Validium's main drawbacks is that transaction data is not published to layer 1 and users have to trust these DACs to make data available when it is needed. In the event that the DAC withholds (or is forced to withhold) data from its users, user funds on layer-2 would be frozen.

🌐 Official links:

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GTON Capital partners with DeNet to expand GTON Network’s infrastructure with more opportunities for data operation.

GTON Capital is excited to announce partnership with DeNet, first multichain ecosystem based on decentralized storage. The collaboration will help both projects further develop decentralization and transparency — the core values of Web 3.0. 

One of the main problems of Web 3.0 is the lack of reliable data storage. This partnership will allow GTON Capital to utilize DeNet as decentralized storage with fast, permanent, and secure access to the project’s data. GTON Capital builds GTON Network — Ethereum L2 rollup, with the prospect of becoming the most popular rollup for GameFi, NFT, and other creative dApps. GTON Capital and DeNet joint work on the integration of both projects’ solutions will make a difference to achieve this goal. 

The partnership will enable GTON Capital to integrate DeNet decentralized data storage solutions into the rollup infrastructure and facilitate their integration in the DeFi apps built upon GTON Network. In turn, DeNet will join forces with a new prospective ecosystem which will become the foundation for hundreds of DeFi applications in the light of the L2 market boom.

DeNet ecosystem helps dApp users and developers solve the main problems: high prices, lack of transparency in ratings, advertising issues, and a low percentage of profit for content creators. To do this, DeNet ecosystem deploys the Open Economy 3.0 concept, which aims to create the most transparent relations between all participants in the digital economy, eliminating intermediaries, commissions, and additional expenses.

About GTON Capital

GTON Capital builds infrastructure to advance digital capital markets including GTON Network — L2 Ethereum rollup with $GCD stablecoin as a native currency, Pathway — algorithms for the pricing of governance tokens, set of mutually reinforcing DeFi protocols, DONs, and more.

By combining cutting-edge achievements of Web 3.0 technology, GTON Capital creates a more advanced and stable foundation for DeFi development.

Website | Twitter | Telegram | Discord | GitHub | Youtube | Mirror

About DeNet

DeNet is a multichain ecosystem based on decentralized storage for Web 3.0 in the DeFi economy.

DeNet creates a beneficial ecosystem for all its participants on the ground of data storage and management according to the Open Economy 3.0 concept. Bringing together applications from different blockchains and increasing the availability of Web3 services for users, DeNet Desk already gives access to more than 40 applications aimed at storing data in DeNet.

Website | Twitter | Telegram | Discord | News | Youtube | Medium

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**

GTON Capital partners with DIA (Decentralised Information Asset) to provide a more reliable and secure data on GTON Network.

We’re excited to announce the partnership between GTON Capital and DIA – a multi-chain, end-to-end, open-source data and oracle platform for Web3. GTON Capital will integrate DIA’s transparent and reliable data and oracle infrastructure into GTON Network which will enable a more transparent and secure DeFi ecosystem.

GTON Network has its own EVM optimistic rollup solution. In order to make it usable for DefI developers the task of price feeds delivery must be solved.

There are two issues with centralization for the data feeds: 1. the data source and its aggregation, 2. on-chain delivery and on-chain data aggregation. First is solving the issue of wrong data from origin data source: website, exchange, aggregator. Second is solving the issue of malicious data providers: oracle, rpc, connector, smart contract.

DIA, the end-to-end, open-source data and oracle platform, is solving both issues.

First we’ll start with the most used price feeds, like Ethereum:

https://api.diadata.org/v1/quotation/ETH

. More price feeds will be integrated later on.

Initially GTON Capital will utilize aggregated data sources from DIA’s API.  Later on, we’ll start working on integrating DIA's price oracle smart contracts into GTON Capital DONs (decentralised oracle networks).

GTON token price feed is already available on DIA:

https://api.diadata.org/v1/quotation/GTON

Recently DIA announced the launch of DIA xFloor, an NFT floor price oracle suite, which will be utilised for DeFi&NFT protocols on GCNet.

This integration arrives just in the right time, before GTON Network mainnet launch, allowing us to enhance the GTON Network infrastructure with the DIA technology before the network's full-fledged release.

P.S.: congratulation our new partner DIA with its milestone as a DAO 🎉👏

About DIA Protocol

DIA is a multi-chain, end-to-end, open-source data and oracle platform for Web3.

Website | Twitter | Telegram

About GTON Capital

GTON Network - an Ethereum scaling solution (L2-Rollup) which is utilising its own collateralized stablecoins as a gas currency.

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Furthering the collaboration with Web3London, we provided its community with a limited opportunity to get GTON tokens with a discount. 

As the partnership between Web3London and GTON Capital, established a month ago, gains momentum, aiming to spread knowledge about DeFi, GTON Capital is committed to creating materials that are of interest to the Web3London community. 

In line with that objective, we launched a weekly series of educational YouTube live streams. To date, we have released four episodes, and we were lucky to have the best guest experts, including Parikh Sarang from SushiSwap and Facu Ameal from Yearn Finance.

We expect to host more amazing guests in the coming episodes. Meanwhile, today, we are glad to share that we’re expanding the scope of our partnership with Web3London and its community is now whitelisted to participate in GTON Capital bonding. That will enable Web3London community members to buy discounted $GTON.

Following successful educational activities, GTON Capital suggests steering the collaboration into a practical area by providing WEb3London members with a limited opportunity to utilize one of the most sophisticated and demanded DeFi tools - bonds.

For those who are new to bonds, we’ll elaborate on this type of digital assets in our next GTON Academy article. Meanwhile, we’d like to inform our friendly community when and how they can acquire GTON bonds and how they can utilize them.

Everyone who is interested in bonding, are invited to join a special channel for bonding discussions on GTON Capital’s Discord server and fill in a form providing their ERC-20 address which will be added on the whitelist.

Now, a few words about GTON bonds. As stated above, a more detailed explanation will be provided in an upcoming article.

Bonding activation depends on several factors. Therefore, it is hard to give a precise date for the launch of bonding. Still, it's correct to say that it will happen soon. Once bonding is launched, users will be able to buy discounted GTON directly in the GTON Capital app and utilize GTON further for staking - either with apps that will emerge on the GTON network or by deploying their own apps on the network.

***"Bonding is a tool for us to connect truly knowledgeable, dedicated and loyal users within a community ,” ***said Alex P, founder of GTON Capital. ***“At the same time, it is a lucrative opportunity to join GTON Capital as a long-term investor. The Web3 London community, with their pursuit for the popularization and promotion of the Web3 concept, are definitely the right ones to get this opportunity.” ***

Technically, GTON bonds, which allow users to purchase $GTON directly from Treasury, are NFTs (not to be confused with the Whitelist NFTs which prove whitelisting) that represent an allocation unlocked when expiration conditions are met. Bond NFTs can be transferred, sold or traded on secondary markets while earning staking rewards. 

GTON Capital bonds run on Ethereum and have two types: short-term bonds with a 7% discount and a one-week vesting period and medium-term bonds with a 15% discount and a three-month vesting period. The discount is applied to the current GTON price at the time of purchase.

About GTON Capital

GTON Capital is a foundation that builds GTON Chain, a community-governed Ethereum rollup protocol with a stablecoin as native currency, and an ecosystem of DeFi products  to advance digital capital markets.

🌐 Official links:

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⚜️𝔾ℂEco Roadmap

Read the roadmap

#WAGMI

GTON Capital starts public testing of GTON Capital Money protocol ($GCD)

Roadmap 2022 sets the pace for the development of GTON Capital. Finally, we’re happy to share that the development of the GTON Money protocol has been completed and the team is currently running tests on Ropsten/Goerli and GTON Network testnet.

We are grateful to the students of the Computer Science Faculty of Hochschule Ruhr West for supporting us along the way and conducting the initial tests of GTON Capital products. This time the student team graciously agreed to help with GCD testing.

The student testing is curated by GTON Capital contributor, Dr Marc Jansen, Computer Science Faculty of Hochschule Ruhr West, who provided the opportunity to invite the students.

Although we have an agreement with Hochschule Ruhr West to conduct the testing, anyone can participate because the scope is public.

The authors of the best reports with the most detailed description of the UX, possible bugs. and suggestions for improvement will receive rewards which will be determined by the GTON Capital team after reviewing all reports.

We plan to complete testing no later than July 10, implement all the fixes and suggestions within three days and begin auditing by one of the authorised auditing companies.

The scope

• GCD minting with ETH as collateral,

• GCD minting with GTON as collateral,

• GTON Money (GCD protocol) deployment on GTON Network testnet & script optimization.

Objectives

• Examine the current user flow from the perspectives of a developer and a regular user, suggest improvements.

• Analyse the execution of all functions.

• Conduct the tests: performance test, system test, etc.

• Detect and describe errors, determine the priority and propose fixes.

Instructions

Minting with ETH as collateral

First, contact @drinkius to get some test GTON to use as collateral.

Example transaction of GCD mint with Eth collateral on Ropsten: https://ropsten.etherscan.io/tx/0x9bbed531817293dc13779292a34bb4db1ef017d008fa93a9b71fb1fba1f4d35e

To mint, you must first approve wETH: https://ropsten.etherscan.io/address/0xc778417e063141139fce010982780140aa0cd5ab#writeContract

To the Vault’s address: 0x097f64be4e8de6608b1d28b3732ad480d8d45823 Amount for 1 Eth: 1000000000000000000

Then call join_Eth method here: https://ropsten.etherscan.io/address/0x7023401be71E1D8C8c9548933A2716aB3234E754#writeContract

Eth value: 1 usdpAmount (renaming will be done later): 894000000000000000000 (about 894 GCD for 1 Eth with the current price of 1.78k+ in the mock oracle aggregator, collateralization rate 50%)

Minting with GTON as collateral

Minting with GTON collateral: https://ropsten.etherscan.io/tx/0x26c7e91a3361915037cec805454c2f5403b8d3371c26abda6886070a824b7b28

To mint, approve tGTON: https://ropsten.etherscan.io/token/0xaab9f76100e3332dc559878b0ebbf31cc4ab72e6#writeContract

To the same Vault address: 0x097f64be4e8de6608b1d28b3732ad480d8d45823 Amount (500 tGTON): 500000000000000000000

Then go to the same CDPManager: https://ropsten.etherscan.io/address/0x7023401be71E1D8C8c9548933A2716aB3234E754#writeContract

And call the join method: Asset: 0xaab9f76100e3332dc559878b0ebbf31cc4ab72e6 Asset amount: 500000000000000000000 (500 tGTON) usdpAmount: 127700000000000000000 (about 127.7 GCD for 500 gton given price and collateralization ratio of 30 percent. The price can change.

Keep in mind that it is better to mint less GCD because otherwise the liquidation price is basically just a little bit lower than current oracle price, and if it fails, your position will be liquidated).

After minting GCD, you can bridge it to the GTON Network using this bridge: 0xd23CBBCDBB88302cD2f4dFe3fE62fE27Ec5762fF

First, approve the required amount of GCD in the GCD token contract (0x1ef834d6d3694a932a2082678edd543e3eb3412b) to the bridge’s contract address

Method: depositERC20ToByChainId Params: 0.002 - ether 50021 0x1ef834d6d3694a932a2082678edd543e3eb3412b 0xDeadDeAddeAddEAddeadDEaDDEAdDeaDDeAD0000 your address 1000000000000000000000 - 1000 GCD 0 0x00

Deployment of GTON Money protocol (GCD) on GTON Network

Using the main GCD repo: https://github.com/GTON-capital/gcd-protocol

Deploy the entire token infrastructure on the GTON Network. This is an exercise to figure out the correct steps to deploy the entire GCD setup and be able to mint the token using different ERC-20 tokens as collateral. For help - there are implementations of tokens you can use and deploy: https://github.com/GTON-capital/gcd-oracles/tree/92404509e2ae4aa2a9c2c23e3dad137d7531276c/contracts/tokens

Deployment scripts can be found here: https://github.com/GTON-capital/gcd-protocol/tree/master/scripts (GCD as well as oracles, which are integrated into the repo as submodules, so that you can call the whole script setup from the main repo).

Then you need to work on interaction scripts in order to implement all the necessary functions for the protocol’s functioning: setting up new collaterals (bonus points for using oracles from the ones implemented by Unit protocol but not used in the deployment scripts yet. For popular tokens, not some rare ones), minting/burning GCD, liquidations (these smart contracts aren’t in the deploy scripts yet so this also needs to be added to the scripts). Also take a look at Unit’s liquidator - this is a big part of the protocol which needs automation and can also be done as part of this exercise.

You can easily run scripts from the file using such command, for example: npm run deploy:gcd:gton

The scripts should be written in a separate file to avoid merge issues, file name - gcdInteractions_yourNick.js, please work out of your own fork of the GCD repository.

Reporting

The reports should be submitted as pull requests with a detailed explanation of the fix or suggestion in the main repo: https://github.com/GTON-capital/gcd-protocol.

Throughout the campaign the GTON team will be assisting the testers in the public Discord channel: https://discord.gg/kMrkshGK2d

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In this article, we'll discuss what staking is in a nutshell, how it works on GTON Capital and what economic model it's based upon.

Launched in early 2021, staking was the first and basic functionality for GTON holders, providing baseline earning opportunities with minimum risk and efforts.

Since January 2022, staking on GTON Capital app has been implemented as a command-line interface (CLI) that offers users a 22.32% fixed APR on the Fantom blockchain, with staking rewards paid out daily. In line with the project's roadmap, GTON stakinghas moved to Ethereum to expand the potential outreach of users. Those who used to lock GTON in staking on Fantom are encouraged to move it to Ethereum.

When a user stakes their GTON coins, sGTON are minted to represent the user's GTON balance. When unstaking tokens, sGTON coins are converted into GTON.

GTON can also be used as governance tokens to vote for various proposals. As staking is vital for the stability of the entire system, users don't have to unstake their tokens and can vote with their staked coins, sGTON.

How does staking work?

Staking is a mechanism that offers crypto holders an opportunity to put their coin to work and earn passive income without having to sell the tokens. Basically, staking can be viewed as the crypto equivalent of depositing fiat money into a high-yield savings account at a bank.

Protocols use staking as a primary tool to attract users. Staking mechanics for DeFi protocols are different from those of layer 1 and layer 2 blockchain protocols. While the latter primarily mint new tokens through validators to be paid to stakers as "interest," in DeFi projects, such as automatic market makers (AMMs) or decentralized exchanges (DEXes), a certain portion of all issued tokens is simply allocated to stakers.

Staking shouldn't be confused with yield farming. While staking's main purpose is to support the blockchain's stability, yield farming is a tool aimed to attract users' liquidity to token pools AMMs and DEXes in exchange for yield.

Staking normally pays a fixed percentage revenue, while yield farming revenues can fluctuate based on the prices of tokens in pools. That makes yield farming a much more volatile tool than staking.

The roots

Initially, staking was only possible via the proof-of-stake consensus mechanism, which is a way of selecting honest participants and verifying new blocks of data to be deployed onto the blockchain.

Validators or stakers need to purchase and lock a certain amount of the network’s native tokens which makes dishonest activities costly for them. If the blockchain was corrupted in any way through malicious activity, the native token associated with it would likely drop in price.

There are incentives for validators to increase their stake. The bigger the stake, the higher chance they have to propose a new block and collect the rewards. Therefore it’s a widespread practice for validators to run a staking pool and raise funds from a group of token holders through delegation. Any holder can participate in the staking process by delegating their coins to stake pool operators who do all the heavy lifting involved with validating transactions on the blockchain.

With the development of DeFi, staking got implemented by multiple apps in the form of user incentives for locking funds.

GTON staking: reasons behind

There are several reasons why the staking functionality for GTON was implemented.

First of all, the staking functionality serves to incentivize users to hold GTON tokens over longer periods of time by offering them a sustainable revenue model. This fosters the stability of the entire ecosystem, at the core of which is Pathway, an algorithm for managing protocol-controlled assets (PCA) and protocol-owned liquidity (POL), based on rules and algorithmic parameters voted for by the GTON DAO.

Pathway tracks the GTON Capital's fundamental metrics, like TVL, volumes, number of users etc to calculate a reasonable price peg for the token and staking's TVL is one of the key parameters affecting the price.

Simultaneously, staked tokens work to reduce GTON's circulating supply, thereby making GTON a deflationary coin.

At a later stage, staking is expected to be used for governance and block mining consensus on GTON Network.

In the longer run, there will be more applications for the staking functionality, as it will be used in the upcoming "growth hacking" strategies, including referral and ambassador programs.

Where do staking rewards come from?

To address the goal described above, a decision was made to allocate a certain proportion of issued GTON tokens to staking.

The decision on the exact proportion was made by the GTON DAO and is subject to revision based on market conditions, product use cases and other factors.

Under the current parameters, roughly 25% of the GTON circulating supply - is allocated to staking rewards. This corresponds to roughly 6% of the coin's total supply.

GTON APY comparison to other projects

As GTON is primarily an ecosystem of products that aims to eventually transform into an L2 network, the staking APY is expected to be comparable to the staking value of major DeFi tokens and L2 staking parameters.

The current staking APY for CAKE is 60%, for FTM 10%, for BNB 19% and for SOL 7%.

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The two teams will work together to implement Pathway strategies and necessary GTON Dollar operations.

We’re pleased to announce that GTON Capital has established a strategic partnership with leading quantitative trading firm Gotbit.

The partnership includes various services related to market making on DEXes and CEXes, help putting the principles of the Pathway protocol into practice and DeFi professional services for GTON Dollar: collateral liquidations, auctions, arbitrage and market making.

The GotBit team will provide assistance with CEX listings and other partnerships and integrations for GTON Capital.

About Gotbit

A unique international project that was founded by high-class mathematicians and developers in 2017. Gotbit implements strategies for business development of blockchain projects. It has been working with 350+ tokens and coins and 90% of them reached ATH.

Website: https://gotbit.io/

About GTON Capital

GTON Capital is a DAO that is building a Web3 infrastructure for more efficient digital capital markets, including:

GTON Network, a community-governed Ethereum rollup protocol with a multi-collateral stablecoin as its native currency.

GTON Dollar,  a multi-collateralized stablecoin protocol with a real use case as a native currency for GTON Network rollup.

Website: https://gton.capital/

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In this article, we'll examine the ecosystem of Optimism, one of fastest growing layer-2 protocols on Ethereum.

Over the last couple of years,  a number of layer-2 chains - operating on top of the Ethereum mainnet - have emerged to address Ethereum's scalability problem.

One of the most rapidly growing chains among L2s is Optimism.

The road to prominence

Optimism grew out of Plasma Group, a non-profit research organization. In September 2020, a preliminary mainnet with a limited test network was launched, followed by a proper mainnet release in January 2021.

In February 2021, Optimism raised a $25 mln Series A funding round led by Andreessen Horowitz. Another $150 mln was raised in a Series B in April 2022, which put the project's valuation at $1.65 bln.

Also in April 2022, Optimism announced that its decentralized autonomous organization, or DAO, dubbed the Optimism Collective. The DAO enables token holders to vote on changes to the protocol with Optimism's governance token, OP.

Recently, the Optimism team reported several major milestones for the past 12 months, including a $17.4 bln worth of transaction volume, a $24.5 mln worth of revenue and saving users $1.1 bln in gas fees.

Meanwhile, Optimism has integrations with over 100 projects and supports about a dozen of DeFi wallets, including MetaMask, Coinbase Wallet and Trust Wallet. 

Cutting-edge tech

The Optimism protocol is based on a tech called  Optimistic Rollups, which bundles large amounts of transaction data into batches. Each of those batches - called rollups as they basically "roll up" data for hundreds of transactions - is executed as a single transaction on the Ethereum mainnet.

As a result, transactions are processed much faster and are much cheaper, as Ethereum gas fees are distributed between all the transactions. Optimism claims that its transactions are 50- to 500-times cheaper than those executed on Ethereum’s layer 1.

The successful deployment and operation of Optimistic Rollups led to the protocol's increasing popularity.

Other Optimism advantages include composability, as Optimism can quickly communicate with the Ethereum mainnet; scalability thanks to enabling Ethereum dApps' migration to Optimism with just minor modifications; and security provided by Ethereum’s decentralized nodes.

Sustainable business model

Optimism's business model is focused on collecting revenue from two sources - transaction fees and miner/maximal extractable value (MEV).

To put it simply, Optimism purchases block space on Ethereum, uses it more efficiently and then charges users transaction fees. The spread between the costs of buying Ethereum block space and transaction fees paid by users is Optimism's profit.

Using a dynamic extra fee charged on each transaction - referred to as "fee scalar" -  Optimism targets a 10% margin for transaction fee profits.

MEV is sort of a "rent," extracted by validators who can specifically reorder transactions. As opposed to some chains' intent to fight MEVA, Optimism plans to redirect MEVs and introduce what it calls MEV auctions (MEVA). As a result, validators will have to bid for the right to extract MEV, paying fees that will create another stream of income for Optimism.

In the longer run, Optimism plans to allocate revenues earned from MEVA to fund public goods. That is expected to help build a self-sustaining ecosystem.

A home to promising projects

The number of projects launching on Optimism increased considerably in early 2022, as projects looked to take advantage of the protocol's higher scalability and lower fees. Currently, more than 40 protocols are deployed on Optimism.

In addition to Optimism-native protocols, many popular DeFi protocols have expanded to Optimism, including UniSwap and Curve. Automated market maker Balancer and unsecured lending protocol TrueFi are among the most recent additions. 

Synthetix, a derivatives liquidity protocol, is the largest protocol deployed on Optimism, with a total value locked (TVL) of $125 mln. 

It's followed by the Optimism-native protocol Velodrome Finance, a trading and liquidity marketplace. According to its developers, Velodrome Finance aims to incentivize liquidity for various use cases. 

A few other Optimism native protocols are also worth mentioning.

Lyra is a DeFi platform focused on options trading. In July 2021, it raised $3.3 mln in a seed funding round led by ParaFi Capital and Framework Ventures.

Perpetual Protocol, launched on Optimism in December 2021, is a DEX for perpetual contracts. At one point, it emerged as the sixth-largest DEX by weekly trade volume.

Pika is a perpetual trading platform that offers up to 50x leverage for various crypto assets. The Pika mainnet was launched in early 2022 and reached a $400 mln trading volume with over 10,000 unique user addresses in the first three months of operation.

Another native protocol powered by Optimism is Rubicon, leveraging Optimistic Rollups to build a DEX for ERC-20 crypto assets.

As of early June, over three dozen protocols with at least $1,000 locked into their smart contracts ran on Optimism, of which 18 have over $1 mln locked, according to DeFiLlama. 

Optimism's total TVL is $355 mln, which makes it the second-largest Ethereum layer 2 after Arbitrum.

GTON Capital adopts the best of Optimism

⚜️GTON Capital builds infrastructure to advance digital capital, and GTON Network is the primary part of it. GTON Network is an Ethereum L2 rollup, fork on Optimism, where user assets are stored in revenue-generating vaults and can be redeemed at any time. Native token for GTON Network will be $GCD - a multi-collateralized stablecoin with a real use case as a native currency for L2.

About GTON Capital

GTON Capital builds GTON Network, an Ethereum L2 rollup with a multi-collateralized stablecoin GTON Capital Dollar as its native currency, that enables an ecosystem of mutually reinforcing products.

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In this article we explain what DeFi 2.0 term implies.

DeFi or decentralized finance comprises all the decentralized alternatives to our existing financial world. The difference between DeFi protocols and traditional financial services is that DeFi does not require intermediaries, instead DeFi uses blockchain technology to cut out all of those expensive middlemen like banks, brokers, and stock exchanges. 

In the past year, we have watched DeFi go from a fringe idea to one of the most aspiring business models in crypto. Currently, the total value locked into DeFi protocols is hovering around the 75 billion dollar mark and the global market cap, for all DeFi tokens, is just under 140 billion dollars.

The DeFi 1.0 protocols available to us, still offer an impressively wide array of financial services. We have already got decentralized lending protocols like MakerDAO, which enables you to put your crypto up as collateral in exchange for less volatile assets like stablecoins. There are derivatives platforms like Synthetics that issue synthetic assets allowing the creation of crypto indexes, such as DeFi index. 

We have decentralized exchanges or DEXes, Uniswap and Pancakeswap as for instance. DEXes allow you to create your own liquidity pools or contribute liquidity to a pool in exchange for a share of the transaction fees among other features. However, given DeFi success, it is considerably easy to overlook the problems our DeFi 1.0 protocols are up against; problems which DeFi 2.0 seeks to address. Without further ado let's take a look at 5 things you may not know about DeFi 2.0:

1.       DeFi2.0 aims to provide long-term liquidity

2.       It will not rely on fiat-back stablecoins

3.       It will be more decentralized

4.       It will lower user costs

5.       DeFi2.0 offers a superior user experience

DeFi 2.0 aims to provide long-term liquidity

Once the sun set on the summer of DeFi, back in 2020 it became abundantly clear that DeFi had a huge obstacle to overcome a persistent lack of long-term sustainable liquidity. The reason is that most DeFi protocols get their liquidity through incentivized liquidity mining. 

Liquidity mining involves third parties, you and I for instance, sending our tokens to a protocol in exchange for an incentive. If you have ever staked or lent your crypto assets to a DeFi platform and received some of the platform's native tokens, you have received a liquidity mining incentive. The assets we lend act as the platform's liquidity and enable it to offer all of the usual DeFi products such as collateralized borrowing and token trading. 

As DeFi has become more prosperous and competitive over time, new protocols have started offering higher and higher rewards to gain more liquidity. It is completely unsustainable, because eventually and inevitably the platform runs out of rewards to even give out. Even if its rewards have an uncapped supply, the protocol disburses so many tokens that its value will not be able to rise again. 

The crux of the matter is that you and I and all of the other liquidity providers are not contracted to keep our liquidity in the pool; we can cash out whenever we wish for it, which is usually around the time that the rewards dry up; as that happens, the whales are the first to cash out, which drains all of the protocol's liquidity, then the protocol's native token inevitably crashes. 

But a couple of platforms have developed some innovative and interesting ways to solve this issue as such. They have been widely praised as the new wave of DeFi 2.0 protocols and one of these new potential DeFi 2.0 protocols is GTON Capital. Then, what does GTON do differently instead of using the liquidity mining incentives relied upon by DeFi 1.0 protocols? GTON owns 99.5 percent of its liquidity as a concept called “protocol owned liquidity” or POL by owning all of its liquidity GTON makes it more and more difficult for the crypto whales to drop their positions all at once and crash the tokens value. GTON achieves this by using what is called a decentralized reserve currency called $GTON.

GTON tokens are backed by a treasury, which is owned and controlled by GTON Capital DAO and has a balance of more than 4 million dollars. Treasury allows for implementation of another innovative approach for liquidity management first introduced by GTON Capital called Pathway. Pathway is an algorithm enabling market making activities using  treasury funds. The algorithm assesses the project’s fundamental metrics and determines the optimal MM scope.

It won’t rely on fiat-back stablecoins

DeFi platforms rely heavily on stablecoins, most of which are backed by US dollars. Yet, this is against of what DeFi is all about; DeFi is supposed to move us away from inflationary centralized currencies like the US dollar. DeFi is not supposed to be a digital duplicate of our existing financial services and for now fiat-back stablecoins are integral to DeFi 1.0 protocols.

 So how can DeFi 2.0 get around this problem? This is an area where a number of possible DeFi 2.0 protocols have been innovating to use decentralized reserve currency although they work  just like a stablecoin, they’re not a stablecoin for they are not pegged to a stable asset, instead it is a free-floating reserve currency backed by a basket of assets.

DeFi 2.0 will be more decentralized

 One of the most common gripes to hear about DeFi is the lack of true decentralization, which is a fair point as the word decentralized is right there in the name. Since DeFi has grown in popularity we have seen increasing numbers of protocols move over to a DAO operating structure, which has gone some way to addressing this concern. 

As you are already aware, DAO's or decentralized autonomous organizations are managed and owned by their community of token holders, not by a decentralized company or a boardroom of directors, anyone holding the required quantity of a DAO's governance token can propose changes to the DAO and vote on changes proposed by other DAO members. By adopting a DAO structure DeFi protocols can offer a more democratic way to organize and operate. While simultaneously addressing the centralization concerns of DeFi users, as you have no doubt noticed a number of popular DeFi platforms now, function as decentralized autonomous organizations, or DAOs including MakerDAO, Uniswap and a few DeFi 2.0 contenders like GTON already use a DAO structure as well. 

 And yet, there is a large number of DeFi protocols that have to adopt a decentralized structure, but as we start to move into a DeFi 2.0 era DAOs will likely become a more common structure for DeFi protocols or maybe even the norm and that brings us to our last point, which is that DeFi 2.0 will lower user costs and offer a superior user experience.

DeFi 2.0 will lower user costs and offer a superior user experience

 If you have used any DeFi protocol, you know that it can be both expensive and difficult to navigate clearly. Reducing the cost for using DeFi services and improving the user experience would be an important step on the road to mainstream adoption. 

Then, why have we grouped them together well before we see any lower costs and a better user experience across the DeFi space? Two changes need to happen first: DeFi protocols must adopt a more sustainable way to source their liquidity, the reasons for which we covered in the first part of this article. If you have read the first part of this article, you already know why this is so important. 

And the second change that we need to see is Ethereum 2.0 going live. Why? Because currently, the vast majority of DeFi protocols run on Ethereum suffer from low transactions in high gas fees and also low scalability, but all that is set to change with Ethereum 2.0 which we are expecting to go live sometime this year. Ethereum 2.0 should reduce gas fees, speed up transaction times and make DeFi protocols built on Ethereum much more easier to scale and once transactions on DeFi protocols become faster and cheaper, they become more accessible to more people. 

Among the crowd of new DeFi users you can expect to see a lot of first-time crypto users, many of whom are currently priced out of DeFi, but if they are not priced out they might be avoiding DeFi for another reason, which is that they are not able to understand how to use DeFi and while web 3.0 wallets like MetaMask have gone a long way making DeFi more accessible, even crypto natives still make mistakes such as sending a token to the wrong network. These products and services are still improving all of the time and making defines incrementally easier to navigate every single day. For instance, MetaMask is trialing a new wallet purpose built for institutional investors called MetaMask institutional, which might go some way to bring more institutional investment to DeFi. 

That is to say that, the combination of a sustainable liquidity sourcing across DeFi and the improvements expected from Ethereum 2.0 will provide a better and cheaper user experience during the DeFi 2.0 era.

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All participants of ETHDubai 2022, the annual conference's first edition, are now on the whitelist that grants access to GTON bonding.

How can you reach out to the crypto community's most dedicated members, including advanced users, crypto OGs and builders of the industry's most prominent projects? Catch them at a tier-one conference! Drawing on GTON Capital's successful engagement in ETHDubai 2022, which provided opportunities to meet and collaborate with the best existing projects, we’re whitelisting the conference’s participants for GTON bonding expected to be launched in the near future. 

All participants who provided their ERC-20 addresses while registering for the conference, will receive a special NFT identifying them as whitelisted users, and that will be the only condition they'll have to meet. Unlike many other communities, for which qualification criteria will be established, such as threshold wallet balance etc, ETHDubai participants will simply have to hold the NFT in their wallet.

The NFT airdrop will be announced shortly.

Quick recap: GTON bonding is one of the GTON Capital protocol's key functionalities, along with staking, which allows users to enter the GTON ecosystem i.e. become GTON token holders with a decent discount. Bonds imply vesting and autostaking during the vesting period, offering users an attractive combination of a discount and staking rewards currently amounting to 22.32% APR. 

Only whitelisted communities are granted this opportunity. 

GTON Capital bonds run on Ethereum and have two types: short-term bonds with a 7% discount and a one-week vesting period and medium-term bonds with a 15% discount and a three-month vesting period. The discount applies to the current GTON price at the time of purchase that can be made with ETH. 

GTON bonds are implemented as NFTs that represent an allocation unlocked when expiration conditions are met. Bond NFTs can be transferred, sold or traded on secondary markets, while earning staking rewards. 

You can find more on how bonding operates in GTON Capital and what strategies users can for with the bonds in a dedicated documentation section.

"Bonding is an option for the project to grow the treasury revenue, on the one hand, and an opportunity for a user to enter the project on special lucrative terms, on the other hand,” said Alex P, Chief Architect and Founder at the GTON Capital foundation. “However, bonding is attractive only for those who believe in the project’s long-term success. We believe that ETHDubai participants learned enough about GTON to make such a positive prediction. ” 

About GTON Capital

GTON Capital is a foundation that builds GTON Chain, a community-governed Ethereum rollup protocol with a stablecoin as the native currency, and an ecosystem of DeFi products  to advance digital capital markets.

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As we prepare for the staking v2 launch, here’s the guide on how to withdraw your GTON from v1 version on Fantom.

Following the audit of the staking contract, we need to implement several smart contract enhancements, which will be introduced in staking v2. To migrate to it once it is deployed into production, you will first have to unlock your staked GTON in order to move it to the updated staking manually through the smart contract.

As the easiest option, we suggest connecting your Metamask to FTMScan and use the contract function directly to claim your GTON, as described below. Please note that the sGTON that you will have left on your wallet after claiming GTON is not usable anymore. Also, please make sure that you use the correct contract link:

https://ftmscan.com/address/0xbceb65916a02804acfc32983a52b07f07e1c5477

Here’s a brief walk-through along the withdrawal process:

• Go to the staking contract on FTMScan, Write contract section:

https://ftmscan.com/address/0xbceb65916a02804acfc32983a52b07f07e1c5477#writeContract

• Make sure you’re connected to Fantom opera in Metamask

• Click on the “Connect to Web3” button

• Scroll till the “WithdrawGTON” field and click on the “Write” button.

• Confirm the transaction in the Metamask’s pop-up.

• That’s it, your GTON is now in your Metamask. You’ll be able to add it to staking v2 once it’s live, and we’ll provide a separate guide then.

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