An Introductory Note

The solution I put forth in the article below is a thought experiment. It’s also intended to be partly satirical. But whether you agree with the conclusion or not, I should note that both the data and the science I explore are real.

Here we go:

Cookies and Democracy

Imagine a third grade class in which each week ends with a cookie celebration. The students vote on which variety of cookies to eat; majority wins. Of the 20 students in the class, 11 favor chocolate chip. And so it doesn’t matter what the other nine want, because, predictably, chocolate chip wins, with slightly more than half the popular vote, every single time.

Despite being democratic, this cookie election process sure seems to ignore the demands of anyone who doesn’t fall into the majority. For one or two weeks, that might be fine. Yet over a long enough period of time, something seems off when 9 out of 20 students never get to eat their cookie of choice.

If this sounds familiar (and you live in the United States or another federal republic), it might be because representative democracies tend to work the same way.

The problem at play is neither a liberal or a conservative one, but a root problem that affects all of us. To show that, I’ll offer two somewhat arbitrarily chosen states that fall on either side of the political divide in America. Let’s dig into some data about recent congressional elections.

On the one hand, we have New York, which has only had Democratic Senators for over two and a half decades. On the other hand, we have Tennessee, which has only had Republican Senators for around three decades. For an entire generation, the legislators elected to fight for the population of these states only represented the interests of the left and the right respectively.

In those past few Senate elections, the results have gotten as close as a 54–46 split. This means that a third to nearly half of every eligible voter in these states has had zero representation of their political ideology in the United States Senate for over two decades. That is staggering.

Even if you’re a Democrat living in New York, or a Republican living in Tennessee, you should be alarmed by the fact that your fellow Americans in any red or blue state might feel completely unrepresented by their leaders and have no recourse to fix that, simply because of where they live. This is a system that structurally favors a certain group of people because of their geography, or more explicitly, because of the fact that their neighbors happen to share their political ideology.

If there existed a state that had 90+% membership to a single party, one could accept having the Senators from that state be from that party all the time. But, as the party split moves closer to the halfway mark, it becomes harder to stomach. Keep in mind that there are two Senators per state. Doesn’t it seem like, in a region with a 54–46 distribution of political views, there should be one Senator from each party most of the time? That seems conceptually correct, but virtually never happens in practice.

This analysis focuses on the Senate, because it’s the easiest way to see this problem manifest itself with real world results. In reality, this same logic can be linked to many parts of the American system: at the federal, state, and local levels; in both houses of congress, the presidency, and even the courts; with the electoral college, gerrymandering, and generally a two party system.

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Gradients

Let’s set aside cookies and politics for a moment and consider a seemingly different topic (that is actually the same thing in disguise). Let’s draw a gradient transitioning from black to white that looks like this:

And now imagine that we had a retro printer that could only print things in pure black or pure white. No gray, no subtlety. This printer (made in the USA!) can’t make sense of those pixels in the middle of the gradient, so it rounds them up or down (to black or white, depending on which represents the “majority” of the pixel’s color). This should sound familiar; each pixel is changing according to the results of a winner-take-all election.

The printer prints this out:

Clearly, something has been lost. We took what was complex and nuanced, and we forced it to be something simple and artificial.

This retro printer has a limitation called quantization, a term that comes from the field of digital signal processing. You’ve probably heard the word quantum before, meaning the smallest discrete amount that something can be. Quantization occurs when a certain amount of information is crammed into fewer options than can actually represent it. In the case of the printer, quantization occurs when every shade between black and white is pigeonholed into one of those two choices.

We’ve also seen how quantization occurs when voting on cookies in a classroom. Most often, quantization happens when you attempt to take data which is analog (like a smooth gradient of grays, or a diverse set of cookie preferences, or political opinions) and reduce it to something digital, binary, multiple choice.

Ever since I learned about quantization, I see it everywhere. Its impact on us is ubiquitous, not only at the level of printed gradients and Cookie Fridays. It even rises all the way up to the level of American Democracy. And frankly, I don’t understand how more of us aren’t talking about this problem.

Make Some Noise

If there are analogies between the problems, perhaps there might be analogies between the solutions? Or phrased differently, if scientists have figured out how to solve quantization to serve their needs, might we apply their logic to solve it for our country’s needs?

We can. And it’s a wild idea.

Let’s travel back in time to World War II, when Allied military engineers developed mechanical computers to help planes compute bomb trajectories.

The engineers were bewildered to discover that the calculations were more accurate in practice on the planes themselves than they were in the labs. How odd, given that perfect lab conditions should make conditions ideal for testing and development. Wouldn’t you expect the opposite?

The problem, as it turns out, was quantization, arising from the machines’ components sticking together in the labs. But up in the air, there was a consistent rattle of parts due to the vibration of the plane during flight. The parts would move around and stick less, thereby making calculations more accurate.

This accidental discovery led to one of the most beautiful and counterintuitive breakthroughs in engineering history. It’s how mankind learned that if you introduce a base level of random noise to a bunch of data, it can cause the aggregation of that data to be more accurate, not less.

This concept is called dithering, the process of adding noise to reduce the errors introduced by quantization. To see how it works, let’s revisit the gradient we looked at earlier:

Let’s introduce a whole bunch of random noise. That means that for every pixel, we’re going to randomly make them darker or lighter. And the result looks like this:

Not as nice as our original smooth gradient! But watch what happens when we tell the retro printer (the one that must round every pixel to black or white) to print this new version. In other words, what gets outputted when we quantize the original gradient with added noise?

Isn’t that amazing? The outputted photo is more accurately a reflection of the original. And this was accomplished by first making it less accurate (by adding noise). Zoomed out, your eye sees something akin to the gradient pattern we are after, all because individual pixels were allowed to randomly deviate from their neighbors.

The principle of dithering states that introducing random errors to an input prior to quantization can actually result in an output that is more representative of the original input.

The applications of dithering are typically seen in digital signal processing. But once you realize the similarities between the quantization problems of gradients and those of our elections, you can naturally see the similarities between their solutions.

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A Modest Proposal

Let’s explore one such possible solution. Imagine every election had a two step process. First, as now, the votes get tallied. But then, the results actually get modified randomly, with a systematic methodology that is equally applies across all states, via an algorithm agreed upon in advance. In the short term, every election will be less accurate. But in the long term, the aggregate of all elections will be closer to the true distribution of political views within the constituency.

Take New York as an example. If in each of the past two decades of elections to choose Senators, there was a random adjustment to the vote such that the outcome had a slight chance of changing each and every time, then on a long enough timeline, the distribution of political party representation would more closely represent the ratio of all votes cast for either party across all of the elections.

For example, to keep it simple, suppose that each of the past 100 elections in State X had a 51–49 Republican-Democrat breakdown. The Republican would win every time in the real world. But in this dithered world, suppose we introduced a randomly selected adjustment between -2% and +2% to the vote after each Election Day. Statistically, that would mean that roughly 25% of the elections would have an adjustment that would bring the Republican vote down far enough below the Democratic vote. Or put differently, that would mean that 25 of the 100 elections would be won by a Democrat. That seems to be a bit closer to the “will of the people”, does it not?

What if there was even more noise? In a -4% to +4% adjustment, 37 of the 100 elections would favor the Democrat. We’re getting closer to 51–49.

Of course, if the gap between the two candidates were much wider, it would be significantly harder for a noise adjustment to bridge the gap. So the likelihood of a flip to the results of the election would go down. So the Republican would continue to win most of the time, which makes sense.

The suggestion is that we will be more accurately represented by our leaders over a long-term timeline if we are willing to accept that each individual election might seem completely unfair, because the real winner lost and the loser won.

It’s important to clarify the parallel to dithering in the digital signal processing world. The election is not the whole gradient. The election is one single dot in the gradient. All of the elections over many years are the gradient. The goal is to get that overall picture to be more accurate, and we do so by introducing random noise at each pixel, each election.

The above example assumes that we exist in a pure two party system. One of the real benefits of an election process like this, however, is that it gives a real incentive for third party candidates to enter the race. It raises their likelihood of winning the adjusted vote.

I intentionally am not being prescriptive about how much noise should be applied to each election to keep this fair and real. The more noise we add, the more we run the risk of disappointing single elections. And at a certain point, the scales tip so much such that the overall picture itself is distorted in unintended ways. I don’t know where that fine line is that renders the dithering helpful without being harmful. But it seems clear that, whatever the methodology is, it has to remain consistent over many elections.

This idea requires one fundamental rule to work, one that humans are notoriously bad at adhering to. It requires follow-through. It requires that the disappointing outcome of elections here and there not cause us to deviate from this long term strategy, because this long term strategy does theoretically work. Yet it only works if it’s truly long term. It’s the Law of Big Numbers; it takes large quantities of data to result in a truly accurate result.

So…

I imagine one common opposition to this idea would sound something like this: “But I have one vote, and my vote should count for something. You’re suggesting making my vote worth less.” But I would argue the opposite: If you only have one vote, why have it be drowned out by the existing process? Might this proposal actually make your vote worth more, if you’re willing to think about it on a long enough timescale?

This new process may in fact encourage more people to vote, even to vote for third parties, because it would mean that there is a multiplier effect, however small, that might tip the outcome in their favor. For the party in charge, there is a chance, however small, of losing its position of authority. So voters that identify with the majority are more incentivized to vote to preserve that majority’s control. Most importantly, all elected officials are more incentivized to avoid extremist politics, to grab a larger share of the electorate, and not rely on winning by a slim majority.

It’s the same reason why people like to gamble or play the lottery. Hey, you never know.

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Picture them as friendly teachers who explain complex things in easy ways. They don’t just talk about buying or selling digital currencies; they also help people understand how this technology works and what it means for the future.

These influencers use social media, blogs, videos, and more to share their knowledge and connect with others interested in the crypto world. Think of them as digital mentors, shaping discussions, and building communities where everyone can learn and grow together. So, when we explore the crypto space, these influencers are like storytellers, guiding us through the exciting journey of decentralized finance and blockchain advancements.

What Is a Cryptocurrency Influencer? A cryptocurrency influencer is an individual who has gained credibility and a substantial following within the cryptocurrency community due to their knowledge, insights, and expertise in the field. These influencers actively share information, analysis, and opinions related to cryptocurrencies, blockchain technology, and the broader financial landscape through various online platforms such as social media, blogs, podcasts, and video channels.

Cryptocurrency influencers play a significant role in shaping discussions, trends, and sentiments within the crypto space. They may offer market analysis, investment advice, and educational content, helping followers navigate the complexities of the rapidly evolving cryptocurrency landscape. These individuals often contribute to community engagement, foster discussions, and provide valuable perspectives that can influence the decisions and perceptions of their audience.

It’s important to note that the term “cryptocurrency influencer” encompasses a diverse range of individuals, including developers, entrepreneurs, journalists, analysts, and content creators, each contributing to the ecosystem in their unique way.

How Will They Assist You? Following cryptocurrency influencers can help you grasp the complexities of the ever-changing financial world. These influencers share updates and insights on popular X (formerly Twitter) and YouTube platforms. Influencers serve as a readily available source for news and information related to cryptocurrency, but it’s important to note that their guidance has limitations when it comes to addressing your specific financial requirements. If you’re facing financial challenges and seeking solutions, consider prioritizing saving and investing in areas that align with your understanding. Impact of Social Media on The Crypto Community? Social media has become a powerful tool for disseminating information in the crypto community for several reasons:

Instantaneous Communication: Social media platforms allow for real-time communication and updates. Crypto enthusiasts can quickly share news, insights, and developments, enabling rapid dissemination of information across the community. Global Reach: Social media platforms have a global reach, connecting individuals from different parts of the world. This facilitates the widespread sharing of information, making it accessible to a diverse and geographically dispersed audience interested in cryptocurrency. Community Building: Social media has played a significant role in building and nurturing crypto communities. Platforms like Twitter, Reddit, and Telegram have become hubs for discussions, information sharing, and collaboration among crypto enthusiasts, developers, and investors. News and Updates: Crypto projects, exchanges, and influencers use social media to share important news and updates. This direct communication channel allows users to stay informed about market trends, regulatory developments, and technological advancements. Educational Content: Social media is a valuable platform for sharing educational content about cryptocurrencies and blockchain technology. Influencers, experts, and projects often use platforms like YouTube and Twitter to create and share tutorials, explain concepts, and help users understand the complexities of the crypto space. Market Sentiment Analysis: Traders and investors often rely on social media to gauge market sentiment. By monitoring discussions, opinions, and news shared on platforms like Twitter and Reddit, participants in the crypto community can gain insights into potential market movements. Crowdfunding and Token Sales: Social media has become a key channel for promoting Initial Coin Offerings (ICOs) and token sales. Projects can leverage platforms like Twitter and Telegram to build awareness, attract investors, and generate support for their fundraising efforts. Influencer Marketing: Crypto influencers on platforms like YouTube, Twitter, and Instagram can have a significant impact on shaping opinions and influencing investment decisions. Projects often collaborate with influencers to reach a wider audience and build credibility within the community. While social media has undoubtedly enhanced information dissemination in the crypto space, it’s important to note that it also comes with challenges such as misinformation, hype, and market manipulation. As the crypto community continues to evolve, the role of social media in shaping narratives and influencing the market is likely to persist and evolve.

Who Are the Cryptocurrency Influencers You Should Follow?

1. Vitalik Buterin (@VitalikButerin)

In the cryptocurrency world, Vitalik Buterin is widely recognized as one of the most influential and visionary figures. As the co-founder of Ethereum, he has significantly shaped the landscape of blockchain technology and decentralized applications. Ethereum, with its smart contract functionality, has become a major platform for the development of various decentralized applications, token launches, and blockchain projects.

Why you should follow him:

Insights into Blockchain and Ethereum: As a co-founder of Ethereum, Buterin often shares insights, updates, and perspectives on the development and future direction of Ethereum. Following him can provide a firsthand look at the latest advancements in one of the most significant blockchain platforms. Thought Leadership: Vitalik Buterin is known for his thought leadership in the cryptocurrency space. He frequently shares his opinions on various aspects of blockchain technology, decentralization, and the broader implications of cryptocurrencies. Keeping up with his thoughts can offer a deeper understanding of the industry. Community Engagement: Vitalik is actively involved in the cryptocurrency community. Following him allows you to stay connected with discussions, debates, and developments within the community, including important updates, events, and announcements. 2. Michael Saylor (@saylor)

Michael Saylor is well-known for his prominent role as a Bitcoin advocate and one of the most vocal supporters of incorporating Bitcoin into corporate treasuries. In August and September 2020, MicroStrategy, under Saylor’s leadership, made significant investments in Bitcoin as part of its treasury strategy. The company converted a substantial portion of its cash reserves into Bitcoin, signaling a strategic move to hedge against inflation and position Bitcoin as a store of value.

Why you should follow him:

Bitcoin Advocacy: Saylor is a staunch advocate for Bitcoin and often shares his insights on its potential as a store of value. If you are interested in learning more about the reasons behind the growing institutional interest in Bitcoin, Saylor’s perspectives can provide valuable insights. Business Strategy: Saylor’s decision to allocate a significant portion of MicroStrategy’s treasury to Bitcoin was a bold and unconventional move. Following his discussions and explanations regarding this strategy can offer insights into how corporate leaders approach financial decisions in the context of evolving economic landscapes. Market Analysis: As a prominent figure in the crypto space, Saylor often shares his analysis of market trends, economic conditions, and the potential impact on cryptocurrencies. If you are interested in staying informed about the broader market, Saylor’s commentary may provide useful perspectives. 3. Andreas M. Antonopoulos (@aantonop)

Andreas M. Antonopoulos, commonly known as Andreas Antonopoulos or simply @aantonop on Twitter, is a well-known and respected figure in the cryptocurrency and blockchain space. He is an author, speaker, educator, and Bitcoin advocate. Antonopoulos has been actively involved in promoting and educating people about decentralized technologies, with a focus on Bitcoin.

Why you should follow him:

Book and Project Announcements: If Andreas releases new books, launches projects, or participates in events, he often announces them on Twitter. Following him ensures that you are among the first to know about his latest works and activities. Thought Leadership: Andreas Antonopoulos is a thought leader in the cryptocurrency community. By following him, you can stay informed about his perspectives on various issues, including the future of decentralized technologies, potential challenges, and the broader impact of blockchain on society. Educational Content: Andreas is known for his ability to break down complex topics into understandable and relatable concepts. His tweets often include educational content, making it easier for followers to grasp the intricacies of blockchain technology and cryptocurrencies. 4. Layah Heilpern (@LayahHeilpern)

Layah Heilpern is a British crypto podcaster with 1.1 million followers across social platforms. Known for her insightful takes on crypto market trends, she has an estimated net worth of $7 million.

In her view, that is dangerous because the government could program the money to be expirable. This would effectively represent another form of quantitative easing (QE) through the back door:

“You can’t program fiat currencies sitting in your bank account to expire. But during economic crises, what we tend to see is central banks printing more money to stimulate the economy — despite this leading to astronomical and dangerous levels of inflation. We’re now seeing the highest inflation rates in the last forty years globally but they justify it with “we’re doing this to stimulate the economy.”

Why you should follow her:

Event Participation: If Layah Heilpern participates in industry events, conferences, or webinars, following her may keep you informed about upcoming events or provide summaries and highlights. Insights and Analysis: If Layah Heilpern is a commentator or analyst in the crypto space, following her may provide you with valuable insights and analysis of market trends, news, and developments. 5. Roger Ver (@rogerkver):

Often called “Bitcoin Jesus”, Roger Ver was among the first to invest in Bitcoin startups way back in 2011. He was also one of the first entrepreneurs to accept Bitcoin as a form of payment.

Follow him for:

Bitcoin and Bitcoin Cash Updates: If you are interested in Bitcoin and Bitcoin Cash, Roger Ver is a key figure in the debate around block size and the creation of Bitcoin Cash. Following him may keep you informed about updates, discussions, and developments related to these cryptocurrencies. Entrepreneurship in Crypto: Roger Ver’s involvement in various entrepreneurial ventures within the cryptocurrency space may provide insights into business developments and innovations within the industry. Diverse Perspectives: Following Roger Ver can expose you to diverse opinions within the cryptocurrency community. However, it’s important to note that his views have been controversial and may not align with the perspectives of all individuals in the space 6. Anthony Pompliano (@APompliano)

Anthony Pompliano is an entrepreneur, investor, and co-founder of Morgan Creek Digital, a blockchain-focused investment firm. He has a background in traditional finance, having worked at notable institutions like Facebook and Snapchat before transitioning into the cryptocurrency industry.

Why to follow him:

Networking Opportunities: Pompliano has a substantial following, and engaging with his content might connect you with a diverse and active community interested in cryptocurrencies. This could provide networking opportunities and exposure to discussions within the crypto space. Macro-Economic Analysis: Pompliano often shares his views on macro-economic trends and their potential impact on cryptocurrencies. If you are interested in understanding how global economic factors relate to the crypto market, his analyses may provide valuable insights. 7. Charlie Lee (@SatoshiLite)

Charlie Lee is the creator of Litecoin, one of the earliest and most well-known cryptocurrencies. Litecoin is often considered one of the first altcoins and was designed to complement Bitcoin with some technical differences, including a different hashing algorithm and quicker block generation times.

Reasons to follow him:

Former Google Engineer: Before his involvement in the cryptocurrency space, Charlie Lee worked as a software engineer at Google. His background in computer science and software development has contributed to his understanding of blockchain technology. Crypto Advocate: Charlie Lee is an advocate for the broader adoption and understanding of cryptocurrencies. He has been actively involved in promoting the benefits of decentralized technologies and often shares his views on various aspects of the crypto industry. Open Source Contributions: As the creator of Litecoin, Lee has made significant contributions to the open-source development of blockchain technology. His work has influenced the development of numerous other projects within the cryptocurrency ecosystem. 8. Balaji (@balajis)

Balaji Srinivasan, the former Chief Technology Officer (CTO) of Coinbase and co-founder of Earn.com, is a renowned strategic thinker and influential advocate for decentralization within the cryptocurrency space. With a notable background in technology and academia, including a Ph.D. in Electrical Engineering from Stanford University, Balaji has played a pivotal role in shaping the industry. His analytical approach to cryptocurrencies, coupled with his thought leadership, positions him as a key figure in the field. As a co-founder of Earn.com, he contributed to the development of a social network incentivized by cryptocurrency, showcasing his innovative contributions to the intersection of technology and digital assets. Balaji’s diverse experience, spanning entrepreneurship, venture capital, and his commitment to the principles of decentralization, underscores his significant impact on the cryptocurrency landscape.

Follow him for:

Networking Opportunities: Balaji has a significant following, and engaging with his content may connect you with a diverse and active community interested in technology and cryptocurrencies. This could lead to networking opportunities and exposure to a variety of perspectives within the industry. Educational Content: Balaji often shares educational content about blockchain technology and cryptocurrencies. If you are looking to deepen your understanding of these subjects, following him might lead you to valuable resources and insights. 9. Ben Armstrong (@BenArmstrongsX)

Ben Armstrong, the host of a highly popular cryptocurrency YouTube channel boasting 1.45 million subscribers, is a prominent figure in the crypto space. Known for providing comprehensive information on various aspects of cryptocurrency and Ethereum, Armstrong serves as a key influencer, keeping his extensive audience informed about the latest developments in the crypto world. In addition to his YouTube presence, he is an active podcaster and the creator of BitBoyCrypto.com, further establishing himself as a go-to source for crypto enthusiasts seeking insights, updates, and educational content within the rapidly evolving cryptocurrency landscape.

Reasons to follow him:

Project Reviews and Analysis: Armstrong likely reviews various blockchain projects and cryptocurrencies. Following him can provide you with insights and analysis that may be useful in making informed decisions about potential investments or areas of interest. Early Access to Information: Being part of Armstrong’s social media audience may provide you with early access to important announcements, project launches, or other relevant information within the cryptocurrency space. Podcast Content: If Armstrong hosts a podcast, following him can give you access to in-depth discussions, interviews with industry experts, and additional insights into various crypto-related topics. 10. Lea Thompson (@Girlgone_crypto):

Lea Thompson shares information about blockchain technology, cryptocurrencies, and related topics through her social media channels, particularly on Twitter where she is known by the handle @GirlGoneCrypto. She has been active in creating content that aims to make complex topics more accessible to a broader audience.

Reasons to follow her:

Collaborations and Partnerships: She may collaborate with other influencers, projects, or companies in the crypto space. Following her could keep you informed about interesting collaborations and partnerships within the industry. Crypto Lifestyle and Culture: Lea Thompson might share content related to the crypto lifestyle, culture, and community. If you are interested in the social aspects of the crypto world, following her may provide a glimpse into this side of the community. Personal Journey: If Lea shares aspects of her personal journey in the crypto space, following her could offer a unique look at the experiences, challenges, and successes of an individual navigating the blockchain and cryptocurrency industry. 11. Cyberscope (@Cyberscope_io)

Cyberscope is one of the leading and recognised audit authorities in the crypto space. Its audits are recognised from launchpads like PinkSale, Unicrypt and DxSale and can earn a badge for your project.The audit service guarantees to build trust and recognition for your project. It will improve your smart contract security and will be the main building block for all your marketing efforts.

Reasons to follow us: Security Updates: Cyberscope may share timely and relevant updates on cybersecurity threats, vulnerabilities, and best practices, helping followers stay informed about the evolving landscape of online security. Alerts and Warnings: In the event of emerging cyber threats or vulnerabilities, following Cyberscope on social media may ensure that you receive timely alerts and warnings, allowing you to take proactive measures to protect your digital assets. Educational Content: Following Cyberscope could provide access to educational content, tips, and resources that empower individuals and businesses to enhance their cybersecurity awareness and practices. Industry News: Cyberscope might share news related to cybersecurity trends, regulations, and advancements. Staying connected can help followers stay abreast of the latest developments in the cybersecurity industry. Conclusion Following influencers in the cryptocurrency space can be a valuable practice for several reasons. These individuals often possess extensive knowledge and experience, providing insights into the dynamic and rapidly evolving world of blockchain and digital assets. Influencers share valuable information, including market analyses, project reviews, and educational content, making complex topics more accessible to their followers. Additionally, they often engage with their audience, fostering a sense of community and providing opportunities for discussions and learning. By following influencers, individuals can stay informed about the latest developments, gain valuable insights, and connect with a like-minded community, ultimately enhancing their understanding and participation in the ever-expanding cryptocurrency landscape.

This report provides an in-depth analysis of the XEN project, focusing on its impact on the Evmos blockchain and other EVM networks. Recent concerns have arisen within the web3 ecosystem regarding the significant footprint of XEN in blockchain network states and state growth. The report delves into the mechanics of XEN, its performance implications, and community discussions surrounding its large state requirements.

The analysis shows that, on Evmos, the XEN token accounts for 96% of all the contract storage space (~55GB) with more than 651,081,927 state entries. Additionally, all the XEN project contracts represent 149GB of disk space with over 70M empty accounts created. XEN has a negative impact on the performance of processes that use the chain state, such as state sync, state export, and snapshot creation, thus increasing the cost of running the network infrastructure.

2. Context

For a while now, Evmos blocks have regularly included transactions from the XEN token. It is normal for XEN transactions to create 100+ contracts within one transaction (example transaction).

The XEN white paper introduces a Proof of Participation (PoP) scheme that has raised concerns among some users and journalists due to its “possibly unsustainable model” (source, source). In the past, this token’s activity has also raised concerns amongst the Evmos community about the significant gas price increase during peak utilization, as some dApp frontends on Evmos used a hardcoded gas price parameter.

Currently, XEN is present in 16 chains, and a few of these published how it is spamming their chain.

The research presents an investigation of how XEN Crypto works and reports the current state and impact of the XEN project in the Evmos chain and other EVM networks.

3. What is XEN?

XEN is a project designed to be inclusive and accessible to all, aiming to foster a community of like-minded individuals in the crypto space. Unlike many existing cryptocurrencies, XEN focuses on fair launch principles, avoiding issues such as pre-mining and whale accumulation by founding teams. It operates on the Ethereum network as an ERC-20 token, utilizing smart contracts for minting and distribution.

Key aspects of XEN include:

1. Supply: There is no initial coin supply. Instead, coins are generated through participation in the Proof of Participation (PoP) protocol.

2. Tokenomics: XEN has no maximum cap on supply and follows a unique distribution model where participants mint their own coins using their own compatible wallets. The token has no utility.

3. Operations: XEN operates “without a controlling or management team”, relying on immutable smart contracts secured by the blockchain.

4. Proof of Participation (PoP): XEN employs a PoP mechanism where participants have ownership rights through self-custody, and rewards are based on participation and contribution to the ecosystem. The value of XEN is tied to its scarcity, similar to Bitcoin, as more participants join and mint coins, making it more difficult to generate new tokens.

   • Staking: Participants can stake XEN for APY rewards within a specified period, with rewards decreasing over time.

   Overall, XEN claims to “uphold the core principles of blockchain technology, such as decentralization and transparency, while offering a fair and accessible cryptocurrency for mass adoption”.

   Finally, a project called DBXen build on top of XEN, which gamifies the burning of the XEN token by earning rewards when doing so. For additional context, see DBXen X’s account and Telegram.

   4. How Does XEN Work?

   The backbone of the XEN project is the XENFT — XEN Torrent (XENT) protocol. XEN Torrent automates the execution of a series of on-chain transactions, maximizing XEN (ERC-20) mint by virtualizing Ethereum addresses used to claim cRanks (aka Virtual Minting Units, or VMUs), controlled by a user via XEN Torrent smart contract.

   The smart contract that defines the protocol is the XENFT.sol. XEN Torrent also has two phases:

   1. set of VMUs (smart contracts) is created, whose number is controlled by the count parameter set by a user. Upon creation, each VMU calls the original XEN Crypto smart contract with claimRank function, initiating the XEN minting. The term parameter for claimRank is also set by the user. These VMU contracts are deleted (i.e via selfdestroy) after calling claimMintReward.

   2. XEN minting controlled by XEN Torrent Protocol reaches maturity. Once the maturity is reached, XEN Torrent Protocol user can perform a bulk claimMintReward operation via controlled VMUs (created on the initial phase). XEN tokens minted during this operation are then transferred to a user-designated address (which could be user’s original address, or any other address on the network).

      The reader should note that, according to the validation logic, the count parameter used in phase 1 should always be higher than 99. This is the count of smart contracts that will be created per transaction. See this transaction provided as an example. The bulkClaimRankLimited method is called and creates multiple contracts (count of contracts linked to the count param) by calling the _bulkClaimRank method.

Last crypto bull run, Bitcoin surged 700% between February 3rd, 2020 ($8,509) and November 8th, 2021 ($69,044). Meanwhile, Ethereum accrued 4,474% from $106 to $4,850 for the same time period. Given the ETF approval and institutional capital being deployed into few crypto-assets such as Bitcoin & Ethereum, it is believed similar returns could be expected pushing the price of Bitcoin beyond $250,000 per BTC (500%+), while Ethereum could surge to $18,000 (629%+). However, such returns are no longer large enough to convert a $20,000 investment into a $1,000,000+, for this reason, I will be using a grid-bot strategy with leverage to maximize my returns. Note, that this is not financial advice, I’m simply describing one of many of my strategies that I will use to generate life changing money for myself. These strategies are highly risky and could lead to a complete loss of capital. As well, I will readjust my strategy along the way to adapt to market conditions and I will describe such time-sensitive changes on x.com/Crypto_Rookies.

Introduction Every four years, the crypto industry undergoes massive growth until the market crashes again. If timing follows historical patterns, the next crash may be somewhere after mid 2025. Until then, it is likely that the momentum from Bitcoin & Ethereum ETFs will fuel early growth into the market. While the bull run is underway, there will be large fluctuations, sometimes even up to 30% downturns, and any strategy must be able to resist such quick price collapse. In this article, I will describe one of my strategies that utilize grid-bots to trade on my behalf hundreds of times a day on micro-fluctuations on the price of Bitcoin, Ethereum, and ETHBTC pair. I will utilize leverage up to 20X maximum and ensure a potential 30% collapse will not liquidate my assets. This means, a $20,000 capital investment will be leveraged to trade upward of $200,000, such that if we achieve a return on Bitcoin/Ethereum of about 500% in the next 600 days, we have a chance to generate more than $1,000,000.

Checkout the updates of returns for the following months:

Month 1–55% ROI You may also refer to my other strategy that I implemented on January 1st, 2024 to also turn $20,000 into $1,000,000 with an aggressive diversified crypto-portfolio which is less likely to be liquidated.

Explaining grid bot and my strategy with Mikhail Yergan Strategy Grid-bots are available on most centralized exchanges (CEX — checkout links at the end of this article for referral links to various CEX) and some decentralized exchanges (DEX) such as Helix. Grid-bots configured for a long position essentially trade on your behalf everytime the price of an asset crosses a grid line below the current price, while it sells when the price crosses above a grid line above the current price. Therefore, the bot keeps buying and selling when prices cross these grid lines between a specified price range making profitable pairs of trade. The more sideway fluctuation happening the more profitable pairs of trades are generated and accumulating more capital. Meanwhile, there is a sacrifice to consider here, because the bot will sell too early a portion of the asset when the price is growing very rapidly, it is best used in periods that are not undergoing exponential growth. This sacrifice comes at the benefit of slightly safer trades. I often don’t even use stop loss when I trade with grid bots, because I carefully select the leverage and range to make sure I can sustain significant price corrections.

Bitcoin range between $38,536 and $59,429 As of February 17, 2024, here’s a price chart of Bitcoin and my selected range given the current market conditions. Based on technical analysis of the chart and current fundamental analysis of the Bitcoin ETF situation with GBTC sell pressure. I believe a proper range for the next few weeks will be between $37,500 and $57,850. This is also corroborated on the liquidation zone on Coinglass.

Coinglass liquidation heatmap as of February 17, 2024 The way you can think of a grid bot, is that when the price goes down after you have activated the bot, you are essentially dollar cost averaging (DCA) as the bot buys while on the way down. It’s not the most capital efficient method, but it’s a lot more forgiving when you make mistakes.

As we get closer to a potential market collapse after mid-2025, I will start to significantly reduce leverage down to 0X and exit into USD and other much safer assets such as real world tokenized assets that are recession proof.

I invested the first $3,143.24 out of $20,000 on a grid bot on Bitcoin 3 days ago on February 14. So far, there’s been $195.42 of realized profits (i.e. these profits have been on completed pairs of trades), and $475.14 in total including the non-realized profits which would only become real profits if I would terminate the bot right now. Overall, that’s a 15% growth in 3 days because the range and price momentum was in my favor. For this bot, I used 200 grids between the range $37,500 and $57,850 based on my technical analysis of the chart as well as the liquidation map from Coinglass. I used a 10X leverage and my liquidation price started at about $36,000 but given my current profit, the liquidation price has now moved down to $32,089. There’s been 293 trades so far.

Summary Once a month, I will publish an updated blog post on the results and discuss if I am on track to achieve my goals. Meanwhile, do not forget to follow me on Twitter (x.com) to get more time-sensitive changes to my trades for any of my investment strategies. While such returns seem out of reach, I have achieved much higher returns in the last crypto bull market, however I had not learned to take enough profits before the market crash even if I knew it was starting to overheat. I strongly advise anyone who follows me to not make this mistake, and make sure to understand that everyone is a genius in a bull market, but taking profits along the way can feel bad until there is a significant collapse at which point you’ll very much appreciate the sacrifice.

About Crypto Rookies is a crypto investor, serial entrepreneur in Artificial Intelligence and Web3/crypto with expertise in tokenomics and market making. Currently CEO of Smooth, which focuses on solving the problem of 95% of crypto-currencies failing in their first 2 years.

Smooth prevent such failure by:

1. Community building with AI (don’t waste money on marketing & influencers)

2. SEC-compliant Tokenomics

3. Market Making (hybrid between stablecoins & altcoins)

4. Treasury management (10%-100% APY depending on risk):

This blog channel generates 10,000+ views per month on the topic of tokenomics and crypto investments, so if you are interested in becoming a sponsor, please reach out to Crypto Rookies.

Meanwhile, please feel free to join the various communities I am involved in and do not hesitate to reach out.

Twitter YouTube with Cyrator and Mikhail Yergen Cyrator (a transparent and reliable token review/ranking community where anyone can join, contribute and earn) Also check out some of the early stage crypto assets that I’m actively using:

GRVT, it’s a Decentralized zk-powered crypto exchange. MarginFi, it’s a peer-to-peer lending protocol on Solana. Drift, it’s a Decentralized crypto exchange on Solana. Swell, it’s a liquid staking protocol to use in conjunction with EigenLayer. Linea, a layer 2 protocol of Ethereum using ZK technology. GetGrass, a DePIN project for shared internet bandwidth with an upcoming data labelling system Use my referral code below for various crypto tools used for trading:

TradingView for charting Centralised Crypto Exchanges to trade with Leverage and Grid Bots:

For $ZEND Airdrop SZN 1, we’re distributing 3,890,250 ZEND tokens (approx. 4% of our total supply) to 42,695 of our early supporters who have been with us from our Mainnet Alpha days through to our current mainnet token liftoff.

Head over to https://app.zklend.com/airdrop to verify your eligibility. Claims will open on March 14, 2024, at a time to be updated. 25% of the airdrop claims will be unlocked immediately on March 14, with the remainder to be linearly vested over the course of 90 days, ending on June 12, 2024.

To ensure fair distribution and integrity of the program, here’s how we’re determining the 8 eligibility categories listed. Users who meet any one of the first 7 will receive an airdrop, with the 8th and final criteria serving as a community bonus.

What’s Next?

Without revealing too much, we’re expecting double digit rewards up for grabs with $ZEND, in another lift off similar to our cosmic STRK: STARFALL campaign which captured STRK deposits and boosted our TVL to new atmospheric highs. We’re expecting nothing less for the historic launch of $ZEND.

Therefore, users who are eligible and hold $ZEND will be able to deposit the token back into the protocol to secure its safety module from next week onwards, as well as earn launch worthy rewards. More perks and details will be announced shortly.

The ZEND Airdrop journey is just beginning with SZN 1. It’s crucial to note that over 35% of zkLend’s tokenomics are dedicated to rewards allocation, which includes future airdrops among other incentives. This initial airdrop underscores our appreciation for active participation, community engagement, and a shared vision for the future of DeFi. SZN 2 will not only bring another exciting airdrop but also align with the launch of key product features pivotal to our transition into modularity, including isolated markets, vault strategies, and the transaction builder.

The countdown to SZN 2 has already begun. Stay alert for upcoming announcements and get ready to be an integral part of zkLend’s continued evolution on our socials. Our dedication to rewarding our community and contributors is unwavering. We’re grateful for your support as we embark on this journey together.

About zkLend

zkLend is the native money-market protocol on StarkNet, an L2 scaling solution combining zk-rollup scalability, superior transaction speed, and cost-savings with Ethereum’s security.

I have been involved in Crypto since the price of BTC was $2000 and have seen my fair share of Crypto Highs and Fomo’s!

You can access all the research, analysis, Bookmarks and FREE BONUS PROJECT details here: I want the Free stuff

To follow my Twitter (x), Youtube Channel or Discord see here : https://linktr.ee/PassiveCryptoMining

This article will cover:

Passive Crypto Mining / DePin Projects (Decentralized Physical Infrastructure Networks)

Depin: Involves using blockchain technology and token incentives to build and maintain physical infrastructure such as wireless networks, cloud services, mobile networks etc

The world of cryptocurrency is ever-evolving, and with the advent of 2024, passive crypto mining has taken a significant leap. This article dives into the top 15 passive crypto mining projects for 2024, offering insights into their profitability, technology, and investment potential.

Criteria for Selection: Profitability, Ease, and ROI

Our selections are based on criteria like profitability, ease of setup, maintenance, and return on investment. We’ve analyzed these projects to ensure they meet the needs of both novice and seasoned miners.

*This is not Financial Advice*

Top 15 Project Overviews and Profitability Analysis

Project No 15 — Nodle

• Nodle uses smartphones as nodes, rewarding users for network participation. It exemplifies the innovative use of existing technology in crypto mining.

• Token: NODL

• Current Price: $0.0072

• Estimated Monthly Earnings: $5.43

• Cost to Invest: $0.00 (both before and after discount)

• ROI Days: 0 (assuming movement in a busy city)

• Links: https://www.nodle.com/

Project No 14— StreamR

• The Streamr Network is a peer-to-peer network for publishing and subscribing to data in real-time. The Streamr Network consists of nodes that interconnect peer-to-peer using the Streamr protocol. Together, the nodes in the Network form a topic-based publish-subscribe messaging system. Topics in this messaging system are called streams. The job of the Network is to deliver published streams of messages to all subscribers of that stream.

• Token: DATA

• Current Price: $0.0470

• Estimated Monthly Earnings: $17.34

• Cost to Invest: $477

• Links: https://docs.streamr.network/streamr-network/

• https://bit.ly/get-Nodeorbit (Hosting Website)

Project No 13— Helium IOT

• Multi-Use Case Support: The Helium Network supports various use cases, including IoT devices through the LoRaWAN network and high-speed mobile connectivity via the 5G network. Hotspots earn IOT by providing wireless coverage and transferring data from nearby devices. The more data transferred the larger the reward. You earn by: Validating the network & Move data for Device users

• Token: IOT

• Current Price: $0.0020

• Estimated Monthly Earnings: $28.38

• Cost to Invest: $100 (Online marketplaces)

• Link: https://docs.helium.com/home/about-helium

Project No 12 — CRANKK

• Crankk is a distributed network built on Kadena’s Proof of Work Network, greatly enhancing the existing ecosystem’s utility into IoT applications while building on it’s proven reliability, speed and resiliency.

• Network gateway node operators earn the Crankk Token for their continuous and maintained contributio to providing LoRaWAN network coverage. Consensus results and participant incentives are determine and regulated by Kadena Pact Smart Contracts safeguarding against manipulation while maintaining accuracy and fairness. 80% of the tokens is allocated for the miners.

• Token: CRKK

• Current Price: $0.186

• Estimated Monthly Earnings: $36.27

• Cost to Invest: $245 ($5 Licence Discount)

• Link: https://bit.ly/get-crankk ($5 off a licence)

Project No 11 — FRY Traffic/Wildlife Camera

• FrysCrypto ($FRY) is a cryptocurrency built on the Algorand ecosystem that aims to build a decentralized network of decentralized networks. At the same time we also strive to accelerate the mainstream adoption of crypto and reduce the amount of e-waste that enters our environment. Model: “proof of Connectivity (POC)” - is a protocol designed to ensure that every device within the Fry Foundation’s network is online and actively contributing. The concept behind PoC is simple — the protocol sends 0 $FRY transactions to each device

• By deploying a camera you help build the Visual Data Collection Network (dVDC). This network is designed to enhance the scope, precision, and accuracy of visual data analysis, leveraging the power of decentralization and advanced AI technologies. You earn FRY Token for deploying these. Indoor and Outdoor.

• Token: FRY

• Current Price: $0.0024

• Estimated Monthly Earnings: $45.98

• Cost to Invest: $149 ($81 Discount)

• Link: https://bit.ly/Buy-Fry-Miner — 35% Discount use Code ‘passivecrypto’

Project No 10— FRY Bandwidth/Decibel/Satellite

• FrysCrypto ($FRY) is a cryptocurrency built on the Algorand ecosystem that aims to build a decentralized network of decentralized networks. At the same time we also strive to accelerate the mainstream adoption of crypto and reduce the amount of e-waste that enters our environment. Model: “proof of Connectivity (POC)” — is a protocol designed to ensure that every device within the Fry Foundation’s network is online and actively contributing. The concept behind PoC is simple — the protocol sends 0 $FRY transactions to each device

• By deploying a camera you help build the Decentralized Global Navigation Satellite System (dGNSS),Decentralized Decibel Network (ddB), Decentralized Bandwidth Network (dBW),. You earn FRY Token by deploying these nodes and keeping them online and updated.

• Token: FRY

• Current Price: $0.0024

• Estimated Monthly Earnings: $45.98

• Cost to Invest: $169 ($81 Discount)

• Link: https://bit.ly/Buy-Fry-Miner — 35% Discount use Code ‘passivecrypto’

Project No 9— Dimo — Macaron

• DIMO is an open and user-owned IoT network that empowers people to have a better relationship with technology. DIMO is an open and user-owned network. This means that when businesses use your data, you save time and money and while earning rewards.

• When drivers connect their cars and stream data, they earn $DIMO. Everyone earns a portion of the weekly drop (baseline issuance), and they earn more when app developers and data consumers pay for their data or vehicle access (marketplace issuance)

• Token: Dimo

• Current Price: $0.39

• Estimated Monthly Earnings: $51.71

• Cost to Invest: $69 ($29.90 Discount)

• Link: https://bit.ly/buy-Dimo — 10% Discount use Code ‘passivecrypto’

• 65RVL4 Joining code for 50 free Dimo worth $20

Project No 8— ICERIVER KAS KS0 PRO

• Kaspa is an innovative blockchain project that combines the security of the PoW mechanism with high block rates and minimal confirmation times. With its unique features and commitment to scalability, Kaspa has the potential to become a major player in the realm of decentralized applications.

• By setting up a Miner, that runs the POW Algorithm you can earn the KAS token. With its efficient power usage, quiet operation, and promising profitability, the Ice River KAS KS0 Pro represents a smart investment in the dynamic world of crypto mining.

• Token: KAS

• Current Price: $0.103

• Estimated Monthly Earnings: $84.57

• Cost to Invest: $450 ($0 Discount)

• Link: https://www.iceriver.io/product/iceriver-ks0-pro/

Project No 7— FRY High End — Weather Miner

• FrysCrypto ($FRY) is a cryptocurrency built on the Algorand ecosystem that aims to build a decentralized network of decentralized networks. At the same time we also strive to accelerate the mainstream adoption of crypto and reduce the amount of e-waste that enters our environment. Model: “proof of Connectivity (POC)” — is a protocol designed to ensure that every device within the Fry Foundation’s network is online and actively contributing. The concept behind PoC is simple — the protocol sends 0 $FRY transactions to each device

• By deploying a camera you help build the Decentralized Weather Network (dWN). You can either buy the high end Miner or dual mine with an existing weather miner (WXM). You earn FRY Token by deploying these nodes and keeping them online and updated

• Token: FRY

• Current Price: $0.0024

• Estimated Monthly Earnings: $91.95

• Cost to Invest: $227 ($123 Discount)

• Link: https://bit.ly/Buy-Fry-Miner — 35% Discount use Code ‘passivecrypto’

Project No 6— Dimo — Auto Pi

• DIMO is an open and user-owned IoT network that empowers people to have a better relationship with technology. DIMO is an open and user-owned network. This means that when businesses use your data, you save time and money and while earning rewards.

• When drivers connect their cars and stream data, they earn $DIMO. Everyone earns a portion of the weekly drop (baseline issuance), and they earn more when app developers and data consumers pay for their data or vehicle access (marketplace issuance)

• Token: Dimo

• Current Price: $0.39

• Estimated Monthly Earnings: $125.31

• Cost to Invest: $249 ($50 Discount)

• Link: https://bit.ly/buy-Dimo — 10% Discount use Code ‘passivecrypto’

• 65RVL4 Joining code for 50 free Dimo worth $20

Project No 5— Neoxa

• Neoxa is a blockchain featuring assets and the ability to obtain cryptocurrency while playing various games and proof of work mining

• Nodes: A Neoxa Smartnode is a specialized node on the Neoxa blockchain network. It requires users to lock a specific amount of Neoxa coins as collateral (1M NEOX). You can self host or use a VPS. Gaming: you can harness the power of your gameplay to earn rewards that can be utilized for your in-game purchases and much more.

• Token: NEOX

• Current Price: $0.0037

• Estimated Monthly Earnings: $166.05

• Cost to Invest: $3690 (1m Neox Staked)

• Link: https://bit.ly/get-Nodeorbit (Hosting Website)

• https://neoxa.net/

Project No 4— Geodnet

• The GEODNET mission is to gather dense real-time geospatial data from the Earth and her Atmosphere using a new class of roof-mounted Space Weather stations. These stations power centimeter accurate location services including RTK, PPP, PPP-RTK and new future AI-based location services.

• The GEOD token is earned via mining and staking. Satellite miner will receive up to 48 GEOD token/day for triple-band miner

• Token: GEOD

• Current Price: $0.114

• Estimated Monthly Earnings: $167.33

• Cost to Invest: $626 ($69 Discount)

• Link: https://bit.ly/Buy-Geodnet — 10% Discount use Code ‘passivecrypto’

Project No 3— ECTMC Node

• ETCPOW is a native ERC20 token on the Ethereum Classic blockchain and is used to fuel the ETCMC ecosystem. The main utility of ETCPOW is to reward miners for mining ETC in the ETCMC pool and to reward ETCMC node operators relative to uptime of the node. The majority of ETCPOW is locked in the mining contract, and after initial launch the only way to access them is to mine ETC in the ETCMC mining pool thus creating scarcity.

• The ETCPOW token is earned by Running a POW Node or Via Staking (Also via NFT’s)

• Token: ECTPOW

• Current Price: $0.6814

• Estimated Monthly Earnings: $173.76

• Cost to Invest: $496 ($30 Discount)

• Link: https://bit.ly/get-ectmc — 5 % Discount use Code ‘passivecrypto’

Project No 2— Helium Mobile

• Helium Mobile (MOBILE) is a wireless phone service built on the decentralized, crypto-powered Helium network, which enables individuals to establish and manage mobile networks through token incentivization.

• Providing Network Coverage: Users can earn MOBILE tokens by setting up a Helium 5G Hotspot, which acts like a mini cell tower, expanding the network coverage. These hotspots are available from makers in the Helium Ecosystem. Once set up properly, your 5G Hotspot will start earning MOBILE tokens. (Currently USA Only)

• Token: Mobile

• Current Price: $0.6814

• Estimated Monthly Earnings: $483*(Varies due to location)

• Cost to Invest: $2500 ($0 Discount)

• Link: https://www.helium.com/5G

Project No 1 — HIVEMAPPER

• Hivemapper is an open-source, decentralized global map that connects a network of contributors who provide map coverage via dashcam content. Users connect to the map via the Hivemapper app. Also, contributors earn the native HONEY token for their efforts

• Reward distributions occur on the 15th and 30th of every month. In the early stages of development, the network will only reward users for map coverage. However, the second phase of the network will enable contributors to earn rewards from map labeling, computations, and hosting

• Token: Mobile

• Current Price: $0.6814

• Estimated Monthly Earnings: $1,102.50

• Cost to Invest: $70($230 Discount — Thats $30 off and 1000 Honey Claimed worth $200)

• Link: https://bit.ly/get-hivemapper — 10% Discount use Code ‘passivecrypto’ (Free 1000 -worth $200- Honey tokens if ordered before 31st Jan)

I can’t give everything away here! Click here to request all my research, bookmarks, discount codes and a FREE BONUS PROJECT earning me $230 already!

Conclusion:

Our exploration of the top 15 passive crypto mining projects for 2024 reveals a landscape rich with diverse and innovative opportunities. While the potential for profit is intriguing, it’s crucial for potential investors to conduct thorough research and understand the risks involved.

Remember, with great opportunity comes the need for careful consideration and informed decision-making.

This is not financial advice. Please do your own research before investing. The above article contains referral links PAssive Crypto Mining may receive compensation when affiliate/referral links are used. Subscribe to My Youtube Channel & leave some claps if you found this article useful!

To follow my Twitter (x), Youtube Channel or Discord see here : https://linktr.ee/PassiveCryptoMining

Passive Crypto Mining Out :)

We are thrilled to reveal the Into the Blue Campaign, the official $MANTA airdrop event to ignite the next chapter in the Manta Network roadmap.

Now, you can check your wallets’ eligibility via airdrop.manta.network.

🚨 WARNING: Beware of scammer airdrop website. Please note that the only official website is: https://airdrop.manta.network

Manta’s core mission is to build for users. In our effort to align with that mission, Into the Blue will reward you and other long-term users and supporters of the entire Manta ecosystem with an immediate airdrop of 50,000,000 $MANTA tokens, equivalent to 5% of the total supply.

Into the Blue is just one of many reward campaigns that offer our sincere gratitude for your support. Other campaigns include the ongoing Manta New Paradigm event, which offers 5% of $MANTA rewards.

New Paradigm: The Real L2 that helps you earn more Yield than a Multisig

The Manta New Paradigm is live! To participate, you need to find an invite code. You can start by searching the…

https://mantanetwork.medium.com/new-paradigm-the-real-l2-that-helps-you-earn-more-yield-than-a-multisig-2f445ab4dc47?source=post_page-----59dc9f938575--------------------------------

Into the Blue Details

The rewards from Into the Blue are divided into two categories:

• Airdrop Rewards: 30,000,000 $MANTA (3% of total supply) is allocated for airdrop rewards to supporters and users in the Manta ecosystem on both Manta Atlantic and Manta Pacific.

• Airdrop Bonus Rewards — The Great Treasure Hunt: 20,000,000 $MANTA (2% of total supply) will be allocated as bonus rewards that can be obtained by supporters and users in the Manta ecosystem. More information about the Great Treasure Hunt, including how to obtain your piece of the Airdrop Bonus Rewards, are detailed below.

• Participants from the United States and other restricted regions are not eligible to participate

• The airdrop claim period will last for a total of 180 days.

Airdrop Rewards

The 30m $MANTA tokens allocated towards the Airdrop Rewards are divided into several categories of activities, each representing different communities and users: users on Manta Pacific, users on Manta Atlantic, and the general community.

The amounts allocated for each category as well as the eligibility criteria are outlined below.

To check for your airdrop rewards, please follow these steps:

• Visit https://airdrop.manta.network/ and log in with your Manta Pacific wallet and/or Polkadot wallet to check if your wallet address is eligible for the initial rewards. Please note that you will be able to check your eligibility, but are not yet able to claim the Airdrop.

• During your wait, you can also explore the Great Treasure Hunt to receive Airdrop Bonus Rewards.

• For addresses that do not qualify for Airdrop Rewards, you are still able to obtain $MANTA tokens through other activities such as the New Paradigm campaign.

The Great Treasure Hunt: Airdrop Bonus Rewards

Throughout your journey through the Manta ecosystem, you have participated in many activities across the Pacific and Atlantic. Unbeknownst to you, many of those challenges also contained hidden treasures: the Mysterious Treasure Chests. Obtaining a Mysterious Treasure Chest begins your adventure on the Great Treasure Hunt.

The Mysterious Treasure Chests each contain one of six treasures hidden within the Manta Pacific. While each of these treasures alone is valuable, combining all six of them will reveal the legendary Mystical Manta NFT. Each of the six NFTs you can obtain awards you with a piece of the total 20m $MANTA allocated for the Great Treasure Hunt campaign, while the Mystical Manta gives the largest allocation of that pool. The campaign begins now and will end once the MANTA Token Claim period begins.

When you discover that you have a treasure chest, you can open it immediately. Opening a treasure box will give you one of six different NFTs, each with a different rarity. You can view your Treasure NFTs in “My Treasure NFTs.”

About each of the six NFTs you can find in your Treasure Chest:

1. Mother of Pearl (Common): A true pleasure to behold, the Mother of Pearl is said to bring wealth and prosperity to anyone who holds it. But don’t stare at it for too long; legend says that it can drive anyone mad.

2. Ralph’s Conch (Common): A conch once used to symbolize power amongst a small group of islanders who have since been eroded from history. Now, the conch seeks a new owner worthy of commanding the oceans.

3. Cowry Shells (Rare): Once used as a standard for currency, cowry shells were collected and traded by ancient peoples for valuable goods and services.

4. Bronze Doubloons (Rare): Scattered across the Manta Pacific, Bronze Doubloons are a common form of currency used by pirates to trade goods.

5. Megalodon’s Tooth (Legendary): Only legends have described the existence of the once monstrous sharks that ruled the oceans. Some say the Megalodons closely safeguarded the mystical manta. Once the manta disappeared from the ocean, the Megalodons served no other purpose and also faded out of existence.

6. Neptune’s Trident (Legendary): Neptune’s Trident, the most powerful weapon in existence, was used to communicate with the Mystical Manta. Unfortunately, no mortal could ever unlock the secrets of how to communicate with the creature using this weapon. Perhaps the Mysterious Fisherman has discovered a way.

Obtaining the Mystical Manta

If you are lucky enough to obtain all six NFTs from the Treasure Chests, you can combine them to create the legendary Mystical Manta NFT. The Mystical Manta, once just another manta ray in the waters, sparked life in the oceans of another dimension. It has since become an energy spirit, which only those truly worthy would catch a glimpse of.

Other Ways to Obtain Treasure Chest Items and the Mystical Manta

Because the Treasure Chest items and the Mystical Manta are NFTs, that means you hold ownership over what you obtain. The NFTs are minted directly into your Manta Pacific wallet address. You are free to trade them with other community members. If you are looking for additional NFTs to complete your collection, you can explore participating marketplaces within the Manta Pacific ecosystem, including Element and Pixel Realm.

About Manta Network

Manta Network is the modular blockchain for zero-knowledge (ZK) applications. Manta Pacific is the modular L2 ecosystem for EVM-native ZK applications and dApps that want to deliver the lowest cost and best experience for users. Leveraging Manta’s Universal Circuits to enable ZK-as-a-Service and Celestia’s data availability for modularity to deliver low gas fees, Manta Pacific offers the perfect environment for ZK-enabled applications. Learn more about Manta Pacific here.

Manta Network was created by a team of experienced founders from prestigious institutions, including Harvard, MIT, and Algorand. Manta Network has received investments from many of the top web3 investment funds, including Binance Labs and Polychain Capital. It has grown through participation in the best web3 accelerators, including Alliance DAO and Berkeley Blockchain Xcelerator.

Website | X | Discord | Telegram Announcements

DISCLAIMER: ALL THE MATERIALS AND INFORMATION ABOVE ARE NOT INTENDED FOR INDIVIDUALS CURRENTLY OR NORMALLY RESIDING IN THE UNITED STATES OR ITS TERRITORIES, REGARDLESS OF THE USER’S IP ADDRESS. NONE OF THE TOKENS HAVE BEEN OR WILL BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER JURISDICTION WITHIN THE U.S. TOKENS MAY NOT BE OFFERED, SOLD, OR DELIVERED WITHIN THE U.S. TO, OR FOR THE ACCOUNT OR BENEFIT OF, RESTRICTED PERSONS AS DEFINED BELOW. NO OFFERS, SALES, RESALES, OR DELIVERIES OF ANY OF OUR TOKEN PRODUCTS MAY BE MADE IN OR FROM ANY JURISDICTION (INCLUDING THE U.S.), UNLESS IN COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS. THE TERM “RESTRICTED PERSON” INCLUDES, BUT IS NOT LIMITED TO, ANY NATURAL PERSON RESIDING IN, OR ANY FIRM, COMPANY, PARTNERSHIP, TRUST, CORPORATION, ENTITY, GOVERNMENT, STATE OR AGENCY OF A STATE, OR ANY OTHER INCORPORATED OR UNINCORPORATED BODY OR ASSOCIATION, ASSOCIATION OR PARTNERSHIP (WHETHER OR NOT HAVING SEPARATE LEGAL PERSONALITY) THAT IS ESTABLISHED AND/OR LAWFULLY EXISTING UNDER THE LAWS OF, A JURISDICTION IN WHICH SUCH OFFER, SALE, AND/OR PURCHASE OF ANY OF OUR TOKEN PRODUCTS IS UNLAWFUL, PROHIBITED, OR UNAUTHORIZED. PARTICIPATION IN THE MANTA NETWORK AIRDROP IS SUBJECT TO THE TERMS AND CONDITIONS DETAILED IN THIS LINK.

This post provides background on Starknet, describes the details of Devonomics, and explains how it relates to Starknet’s decentralization vision. Finally, it discusses Devonomics in the broader context of other initiatives for Starknet users and developers.

Background on Starknet Since Nov ’21, developers worldwide have worked around the clock to build and develop Starknet’s Mainnet, the first Turing-complete Validity Rollup on Ethereum. As a result, Starknet is now the largest developer ecosystem among all L2s, having grown 14% over the past year to become the 8th largest blockchain developer community, and the leader in the L2 landscape.

This growth is partially explained by the mature technology stack Starknet offers. This stack is built on STARKs — the safest and most scalable proof system; Cairo — an ergonomic and dev-friendly smart contract language; and includes novel blockchain features like native account abstraction.

Another explanation for the rapid growth of Starknet’s developer ecosystem is its vision, in which Devonomics plays a key role.

Starknet’s Vision Reflected in Devonomics Starknet’s founding vision recognized that developers are central to the network’s mission of scaling Ethereum, while retaining Ethereum’s core principles of decentralization, transparency, inclusivity, and security.

By distributing fees via the Devonomics Program, Starknet is progressing according to this vision in the following ways:

Rewarding developers for operating and developing the network Devonomics will give devs additional rewards for operating core network infrastructure or building new dApps and incentivize them to continue doing so in the future. In this sense, the program is a realization of the network’s governance vision. “A fair, open, and censorship-resistant service is only possible if several parties show up to compete to perform work that powers the decentralized service, and that can only be guaranteed if those workers are compensated for their role as operators of the network.” (A Decentralization and Governance Proposal for Starknet)

1. Empowering developers to govern the network in a decentralized manner

Devonomics helps those who build the network and its dApps play a prominent role in governing the network. It ensures that no single centralized entity holds sway over Starknet. It uses a reliable method for judging the level of contribution of dApps to the ecosystem, assessed by fees generated, and likewise will use reliable methods to judge the contribution of core developers. These judgments are then reflected in the strength each developer has in the governance of the ecosystem.

1. Maintaining and securing the network by staking

In the future, all fees on Starknet will be denominated in STRK and the operation of the network will be decentralized via a Proof-of-Stake based protocol. At that time, Devonomics will enable devs to stake their STRK to participate in ensuring the liveness and security of the network, via sequencing, STARK-proving services and data availability provisioning, to name a few examples.

Overview of the Devonomics Pilot Program As mentioned above, Devonomics will initially allocate 10% of Starknet transaction fees accrued from the launch of Mainnet in November 2021 until the end of November 2023. This is over 1,600 ETH (over $3,500,000 at the time of writing).

This sum will be distributed by the Starknet Foundation to two cohorts of developers, (a) dApp Developers and (b) Core Developers, as follows:

Fee allocation for dApp Developers The program will distribute 8% of collected fees (over 1,200 ETH) to dApp Developers.

The value offered to users by a smart contract is reflected in the amount of fees collected by that smart contract. By allocating a fixed portion of fees to each smart contract, Starknet rewards dApp Developers objectively, transparently and fairly, in correlation with the value they offer to Starknet users. In other words, smart contracts that contribute to users’ engagement with Starknet will receive more funds.

The computation of the exact allocation to each dApp is done by measuring the L1 and L2 fees paid by users of these contracts (the fee estimation algorithm has been built to ensure the inclusion of a variety of dApps and will likely be modified over time). In the future, the allocation of fees and ongoing newly minted Stark Tokens to dApp Developers will be automatically done by the Starknet protocol itself in a manner that is fair, transparent and objective.

A description of the fee allocation algorithm and the list of recipient Starknet accounts can be found here.

Fee allocation for Core Developers The program will distribute 2% of collected fees (over 300 ETH) to Core Developers.

While the relative value offered by dApp Developers can be assessed by the fees users pay, there is no known objective metric to compare the contribution of Core Developers, such as those who write code for provers, sequencers, full nodes, long-term storage providers, etc. Therefore some human discretion is needed. However, having a single central entity assigning a fixed portion of fees to Core Developers would be arbitrary and open to favoritism. With this in mind, we are conducting research on the best practices to evaluate contributions in a fair, transparent, and efficient manner, and we are learning from existing mechanisms in the blockchain space.

For the current Pilot Program, we decided to put the responsibility for recommending the assignment of funds to Core Developers in the hands of the very dApp Developers who receive fees from the program. We made this decision in order to have a simple yet reliable mechanism for the Pilot Program, as dApp Developers are familiar with core projects and their contribution to Starknet.

In other words, during the Pilot Program, each dApp Developer will be asked to recommend how to allocate an additional 25% of fee revenue on top of what they have received. Thereby, an additional 2% of fees collected by Starknet (over 300 ETH) will be apportioned by dApp Developers to Core Developers whose work they value.

Example: Suppose Alice, a dApp Developer, is set to receive 8 ETH. As part of the claiming process, Alice will be asked to recommend how to allocate a separate amount of 2 ETH (i.e., 25% of her allocated amount), to Core Developers, at arm’s length. To clarify, this amount of 2 ETH is separate from, and additional to, the 8 ETH that Alice receives as a dApp Developer, and is paid directly from the Starknet Foundation to the Core Developers.

Further restrictions appear in the “Fine Print” section below.

Other Starknet Initiatives for Users and Developers Devonomics is one of several complementary initiatives that reflect Starknet’s commitment to decentralization. These initiatives seek to empower important network stakeholders who have contributed in the past to Starknet’s success, and ensure that present and future stakeholders continue to maintain Starknet as a public good. Previous Starknet Foundation initiatives include:

The Early Adopter Grant (EAG) Program The Early Community Member Program (ECMP) Developer Partnerships (DPs) Grants to Individual Contributors Regarding user-facing initiatives, the upcoming first round of Provisions, the first of several rounds, will initiate Starknet’s user-focused decentralization efforts. Future user-oriented initiatives include rebates denominated in STRK on transactions performed, and other mechanisms that recognize and reward the contribution of users to the network.

Finally, in the near future there is expected to be a significant reduction in fees, a benefit to all ecosystem users.

Summary The Devonomics Pilot Program is an important step in Starknet’s progress towards a fully decentralized ecosystem in both its tech stack and the processes that govern it. Put simply, it is a bold experiment in building and sustaining a decentralized community.

By allocating 10% of transaction fees to developers, the program seeks to encourage the growth of the Starknet community and bolster the role developers play in the network’s decision making processes. As the program is expected to change over time, developers are encouraged to actively participate and explore this exciting space together by providing feedback to shape the pilot program’s evolution into something more robust and permanent.

Want to join the discussion about the Devonomics Pilot? Join our community forum and follow Starknet on X.

To become a member of Starknet’s community, get started with the Starknet Book and Cairo Book.

— — — — — —

Fine Print

At the moment, there is no need to reach out to the Starknet Foundation or any other party in the Starknet ecosystem regarding participation in the program. The Starknet Foundation will initially reach out to projects directly and later on share details on how to receive fee allocations through the program. Fees in the first phase of the program will be paid in ETH, and, when relevant after the launch of Starknet v0.13.0, in both ETH and STRK. Generally speaking, Devonomics will be denominated in the token(s) used to pay transaction fees on Starknet. It should be noted that the Devonomics mechanism is not supposed to replace sustainable business models for projects. In particular, it may be modified over time and may be terminated at any point in time based on an evaluation of its benefit to the Starknet ecosystem. The mechanisms for allocating fees to both dApp and Core Developers will be modified over time, to improve transparency, fairness and efficiency. The fraction distributed is very likely to change over time, e.g., following events such as future fee reductions on Starknet due to greater efficiency and scale, the introduction of EIP-4844, introduction of a fee market to Starknet and modification of the Starknet gas computation model. The percentage may also evolve based on community feedback and other factors. The Starknet Foundation will strive to allocate fees in accordance with the outlined pilot program. However, final discretion on all payments will be left to the Starknet Foundation, to accommodate regulatory and financial obligations. The Devonomics Pilot Program has a total budget of 8% for dApps and 2% for Core Developers, but this does not create a current or future commitment, legal or otherwise, to allocate to any dApp 8% of the fees collected through such dApp. The exact computation method for the Pilot Program is merely an attempt to approximate a fair allocation. The claiming threshold for receiving fees in this round is set at 0.1ETH. In case this threshold is not reached, fees will accumulate and roll over to the next distribution date until the threshold is met. FAQs: What do I need to do to receive Devnomics?

Nothing, at the moment. The Starknet Foundation will release further details at a later point in time and will contact the relevant projects.

Developer Starknet Governance Decentralization

Guide

Wormhole’s ecosystem is relatively small. We summarized a few interesting protocols that you might want to interact with for the potential Wormhole airdrop.

Mayan Finance (Twitter: https://twitter.com/mayanfinance)

https://mayan.finance/

We only recommend to use the Portal bridge as it’s considered the “official” frontend for Wormhole but it comes with a bit more complexity compared to other bridges.

When you bridge assets using Portal, the USDC token you receive may not be ready to use right away. To make it usable, you will need to perform a swap at jup.ag (for Solana) to get usable USDC.

For example, bridging USDC from BNB Chain to Solana with Portal Bridge will give you USD Coin (Portal from BSC) that you’ll need to swap for the normal USDC.

JITO NETWORK: After the success of the Fluxbeam airdrop on Solan where some of us made quick gains in a week of farming, Jito Network revealed that the snapshot was taken on Nov 25th. Wallet eligibility check for the airdrop will be live on the official Jito Network in 2 days. Activities like staking Sol on Jito network, referrals, and other point-earning endeavors will count toward your airdrop. If you followed my Solana Airdrop Farming strategy parts 1 to 3, you’re likely eligible. Consider unstaking your Sol from Jito Network and await further announcements. Our hunt there is finished.

MARGINFI: I noticed an increase in MarginFi users earlier today, resulting in my wallet rank dropping despite having several multiplier points and running borrowing, lending, and referrals activities simultaneously. Due to saturation, I’ve withdrawn all my funds from Marginfi and allocated them elsewhere. I’m banking on my earned points for the $mrgn airdrop.

KAMINO FINANCE: I’m still farming Kamino, an undervalued lending protocol on Solana, though their slow website makes farming a hassle. Points are yet to be launched, but once launched, all on-chain activities like lending and borrowing on Kamino will count retroactively (confirmed by the team). To farm Kamino:

Swap $SOL to $USDT on Jupiter: https://jup.ag/swap 2. Go to https://app.kamino.finance/ , connect your (Solana) phantom wallet 3. “Supply USDT to earn 11.59% APY

1. Borrow 70% of available ETH for -1% APY.”

WORMHOLE: L0 is getting a CONTEST and I love it! Wormhole, raised $225M today. An airdrop is imminent (Preparing guide today). They’re offering an exclusive “Early adapter” role to all members of their Discord server until the end of the day. Join and verify at https://discord.gg/wormholecrypto.

ALEO TESTNET: #AleoFaucets are back. If you missed doing the Aleo testnet tasks due to the lack of faucet tokens, now’s your chance. Visit https://faucetgreenlist.snarkos.net, To Greenlist Your Address, then head to Aleo Discord, locate the faucet channel, and request faucet tokens with your greenlisted wallet. Goto my Aleo testnet guide and start testing

Paste your Leo Wallet address

Complete capchat, click “Paint it Green” to Get this message

request faucet tokens using this format, not more than 15 pls.

check your LEO wallet to see your test tokens LINEA: Lastly, invest some real money to complete the remaining waves on Linea voyage. I anticipate a single wallet will cost up to $100 in gas fees before the voyage ends. There are 10 waves, and we’ve only completed 3 so far.

I tuned in to Linea DeFi Voyage: Proof of Humanity Space and picked up some interesting insights: 👉 Linea has been working for months on an anti-sybil technology set known as Ver.ax. 👉 Ver.ax is designed to issue Proof of Humanity attestations, including reputation scores and credibility scores. 👉 Ver.ax is set to be available for mainnet use as a Proof of Humanity technology next week. 👉 Alongside other criteria, Galxe Passport and Gitcoin passport points will also influence a wallet’s Proof of Humanity status.

I will do a tutorial on how to increase your wallet scores on gitcoin and how to mint a Galxe Passport.

I’m Jadeofwallstreet, your trusted guide to actionable profit strategies in DEFI. Follow me on:

• Twitter: https://twitter.com/MetisCharter

• Join my WhatsApp Channel: https://whatsapp.com/channel/0029VaAs0DMH5JLwrAD3wM1U

• Join My Discord Servers: — Jadeofwallstreet: https://discord.gg/7mtNBzbsjE — Crypto Job Board: https://discord.gg/dDBU5BMbMy

Keep those tips coming to 0xA12795A80CCcE5a869263B0c41e3f18875162b58

I love ChatGPT like I’m crazy, but somehow today’s story won’t be about ChatGPT.

We’ll be using an AI generator that barely anyone ever talks about it.

And I’m pretty sure this story is going to leave your jaws dropped.

But before that, allow me to share a brief comment from a reader on one of my typical side hustle stories.

Now, most of the side hustles I share are very simple, in terms of the structure and steps you need to follow.

But here’s what makes them profitable:

If you can use the tips I share to focus on a specific keyword in a smaller market, you’ll make money for sure.

By doing this, you’ll face fewer competitors and cater to a more specific demand.

With this tip out of the way, let’s discuss what this new side hustle is.

So What is this new AI Side Hustle?

How many of us are fashionistas or love a good fabric pattern?

Well what if I told you it was possible to start out your own fashion line with almost no effort.

Yeah, I’m serious.

And no, I’m not writing this story just for the fashionistas, there’s room for everyone with this side hustle.

So for this new side hustle, we’ll be using AI Image generators to create patterns to sell Online.

The best part is that I’ll be sharing highly popular online platforms, where you can sell these patterns to generate a steady stream of passive income.

So how do we get started with this side hustle?

Step 1: Generating the Images

Now remember, the images we’re talking about are patterns

• not cliparts

• Or Wall art

So, we’ll be generating these patterns to sell online using AI art generatorsm

And for this, allow me to introduce Creative Fabrica Spark.

So yes, Creative Fabrica Spark is that shy kid on the block that

• Barely gets the attention they deserve

• But wows everyone when they speak out

So how does we create with Creative Fabrica Spark ?

First, we need the ideas or niches.

Simply head over to ChatGPT and ask for pattern ideas that can be generated with AI.

These pioneers will actively participate in building the ecosystem of zkLink and contribute to its growth through free marketing efforts.

Who are we looking for?

• Eco-dApp Loyal Users: Actively use zkLink’s eco-dApps and assist in product testing. Basic Requirements: Have experienced dApps in the zkLink ecosystem and have used them for more than 1 month, including ZKEX, zkJump, and OpenWorld Exchange.

• Active Community Members: Active moderators and dedicated volunteers in the community. Be an advocate of zkLink and a role model in the community. Basic Requirements: Have a hero, volunteer, or mod role in zkLink Discord.

• Social Media Enthusiasts: Influencers willing to promote zkLink and help network on social media platforms. Basic Requirements: Post more than 1 tweet/YouTube Video/Tiktok about zkLink and gain more than 1,000 views

• Referral Enthusiasts: Those who bring high-quality users to the zkLink community/events**.** Basic Requirements: Invite a minimum of 100 users to the zkLink community or the zkLink summer tour campaign.

What will the Pioneers do?

• Content Creation: Produce content, such as memes, educational articles, videos, and analysis reports related to zkLink. Actively help tweet/retweet, post blogs, and TikToks.

• Community Contribution: Support the community through activities like server boosting, feedback, management assistance, and more.

• Networking: Help zkLink find potential partnerships and provide relevant information resources.

• Event Management: Organize events and groups to enhance zkLink’s reach.

What will the Pioneers get?

• Exclusive Access: Get access to the Pioneer Group. Communicate with the zkLink Core DAO.

• Job Opportunity: Those who perform well will have the chance to join the zkLink Core DAO.

• Recognition: Be acknowledged with exclusive roles on the zkLink Discord server.

• Token Grant Rewards: Get returns that are directly proportional to your efforts( details will be communicated after your profile is reviewed).

How to apply for the zkLink Pioneer?

Step 1: Apply now: https://forms.gle/25JEnaSpVmqrAow77

Step 2: We will contact you based on the contact information you provide.

We look forward to embarking on this exciting journey with our zkLink Pioneers. It’s time to board the ship heading towards a new era!

About zkLink

zkLink is the first ZKP-based, cross-rollup, multi-chain trading execution layer.

By connecting various L1 blockchains and L2 networks, zkLink’s unified, multi-purpose ZK-Rollup middleware enables developers and traders to leverage aggregated assets and liquidity from different chains and offer a seamless multi-chain trading experience, contributing to a more accessible and efficient DeFi ecosystem for all.

Arbitrum is a layer 2 blockchain for scaling Ethereum. It operates with optimistic rollup technology. This technology allows smart contracts from Ethereum to scale by sending messages between smart contracts and those in the Arbitrum second chain layer.

The Arbitrum $ARB airdrop became claimable on March 23rd 2023. This airdrop earned many thousands of dollars worth of $ARB tokens and some earned even tens of thousands of dollars worth of $ARB tokens!

Now, we might have a chance to get another $ARB airdrop!

Over 70M $ARB tokens are still unclaimed and have been moved to the Arbitrum DAO. There´s a good chance that these tokens will be distributed in another airdrop round!

Arbitrum Odyssey

The Odyssey was originally launched in June 2022 as an 8-week initiative where users are rewarded with NFTs for completing different tasks. However, the campaign was paused in the second week due to congestion.

Now, after more than 1 year, the Arbitrum Odyssey has finally reignited!

The Odyssey will last for 7 weeks, giving you the chance to explore 13 projects through missions within the Arbitrum ecosystem. As a reward, you will receive in total 16 badges including custom badges made by Ratwell and frens, members of the community, for completing these missions.

These tools offer a unified view of your digital assets and provide valuable insights into the world of DeFi on Starknet, allowing users to optimise their investment strategies and make more informed decisions.

Portfolio Trackers

Portfolio trackers are like the compass in the vast sea of DeFi. They offer a unified view of a user’s digital assets across different chains and protocols, making it easier to monitor balances, transactions, and DeFi activities in real-time. They are a trusty guide in the ever-evolving crypto landscape.

Imagine having all your assets neatly organized in one place, accessible through a single interface. That’s what portfolio trackers provide. They optimize your investment strategies, offering real-time updates and alerts to keep you in the know. And the best part? You can explore other portfolios and even copy trade — bringing the full power of DeFi to your fingertips.

Source: https://zerion.io/

Starken: The Starknet Portfolio Tracker

There’s no shortage of portfolio trackers, each with its own unique features. Examples include Nansen, DeBank, and Zerion, though most of them currently only cater to EVM chains. On Starknet we are lucky to have Starken — the Starknet portfolio tracker.

Starken boasts full-history tracking, 12+ integrations, comprehensive charts, DNA Score, and powerful analysis tools. Join the ranks of active users, including whales and top performers, and navigate your DeFi journey with confidence.

Source: https://delightfi.xyz/

Yield Trackers

Yield trackers shine a spotlight on the returns and performance of DeFi strategies, helping users identify the best investment opportunities. These tools are your treasure maps in the world of decentralized finance.

Yield trackers provide the best execution and yields, simplifying navigation across various protocols. They leverage data analytics to empower you with the insights needed to make informed decisions all in one place.

Morphine: The Starknet Yield Optimizer

During our session, Sacha and Mat ran a live demo, showcasing the capabilities of MorphineFi — the Starknet Yield Optimizer. MorphineFi aggregates data from 30+ yield sources, offering real-time yield information and enabling direct deposits.

Source: https://delightfi.xyz/

But that’s not all. MorphineFi has ambitious goals and exciting next steps on the horizon:

• Auto-compound

• Expanding integrations

• Introducing new strategies vaults

• Yield risk score

• ZAP integration

All of its contracts will also be audited.

The future looks promising for MorphineFi, and we’re excited to see what’s next in store!

Find the juicest yields on Starknet. Source: https://morphinefi.xyz/Yields

How To Get Involved?

For DeFi power users on Starknet, there are opportunities to get involved with DeLightFi. Here are a few:

• Track your account monthly at Starken (they can track who’s connected their wallets *hint*)

• Make at least one deposit on MorphineFi

• Join the vibrant DeLightFi Discord community

KYT Sessions: Final Quest Board

With KYT Session #4, we’ve reached the end of our exciting journey through the world of blockchain data. We hope you’ve found these sessions insightful and valuable in enhancing your understanding of the Starknet ecosystem and the opportunities it presents.

As we conclude our KYT Sessions, now is the moment to test your recently acquired knowledge with the chance to secure thrilling prizes through our Final Quest Board! Full details can be found on our Discord server.

About KYT Sessions

KYT Sessions are a series of immersive talks and tutorials with a final community challenge that will elevate your transaction tracking skills ahead of our mainnet launch. Community members will dive into the basics of blockchain indexing, master the art of navigating block explorers, and all with visionary Starknet leaders who’ll guide you through this experience.

About zkLend

zkLend is the native money-market protocol on StarkNet, an L2 scaling solution combining zk-rollup scalability, superior transaction speed, and cost-savings with Ethereum’s security.

V1 introduces core asset support, double-sided collateral and borrow factors, as well as censorship-resistant oracle partners. The Artemis code base has been audited by industry leading firms ABDK and Nethermind, with the latter conducting formal verification. At launch users can permissionlessly and securely deposit cryptocurrencies, earn yield, and borrow other assets in a self-custodial manner.

Forge is a decentralized exchange (DEX) that dominates the Evmos ecosystem, capturing 75% of the TVL. Forge has made significant strides in Q2 2023, harnessing the strengths of Uniswap v3’s concentrated liquidity to introduce a capital-efficient trading environment and a community-centric protocol that empowers users and liquidity providers. By eliminating fees, Forge aims to accommodate a wider range of users.

The Launch of Forge Inferno

The Inferno incentives program is a strategic initiative launched by Forge to stimulate liquidity and foster growth in the Evmos DeFi ecosystem. Designed to run for 84 days, this 12-week program was divided into four periods of 21 days each. The program incentivizes liquidity providers (LPs) by offering rewards through stEVMOS and STRD tokens. By focusing on Liquid Staked tokens, Forge aims to optimize its capital efficiency, positioning itself as the most capital-efficient DEX in the Cosmos ecosystem. Since its introduction, the Inferno program has successfully and significantly boosted Forge’s TVL.

Two weeks following the inception of the Inferno incentives, Forge saw its TVL surpassing $2.2M and transaction volume exceeding $5M, indicating the program’s initial success. By the end of Q2 2023, the TVL on Forge stood at $1,567,449.

Partnerships and Collaborations

Against the backdrop of the successful launch of Inferno, Forge strengthened its partnership with Stride, a liquid staking derivatives provider. Stride, often referred to as a “zone”, serves as a catalyst for liquidity related to staked tokens. The Stride DAO committed a sizable 84,000 STRD to incentivize three liquidity pools during the Inferno program. This collaboration resulted in a surge of TVL in Forge to nearly $2,000,000 within 24 hours of Inferno’s launch, and trading volume exceeding $400K.

Additionally, in a strategic move to enrich the Evmos ecosystem, a collaboration was formed with Revert Finance. The partnership received immense community backing, with more than 80% of the community endorsing the funding proposal. Forge’s integration with Revert Finance brings an array of analytics and management tools designed to optimize concentrated liquidity directly to its platform. These tools not only enhance the capabilities within the Forge ecosystem but also empower LPs to optimize their Uniswap v3 positions, significantly enhancing the overall user experience and liquidity management processes. Additional tooling includes: encompassing position analytics, top positions listing, incentives programs, initiator tool, auto-compounding, and a position management interface. All of these tools are available to use on Forge, giving their user’s an edge while trading. Looking forward to the rest of the year and beyond, Forge is excited to unveil a host of partnerships. Stay tuned.

Key Performance Indicators

Total Value Locked (TVL):

• The average TVL during this period was around $1,000,010, suggesting that, on average, Forge had about $1M worth of assets locked in its protocol.

• The maximum TVL recorded was approximately $2,256,632, representing the highest value of assets Forge managed to lock in its protocol during this period.

• The standard deviation in TVL was around $811,012, showing a substantial variation in the value of assets locked in Forge over time.

Volume:

• The mean daily trading volume was approximately $50,324.

• The highest single-day trading volume peaked at about $729,547.78.

• The standard deviation in daily trading volume was approximately $146,932.05, showing a high fluctuation in daily trading activities on Forge.

Revenue (swap fees paid by users):

• The mean daily fee was approximately $92.79, indicating that on an average day, Forge generated around $92.79 in swap fees.

• The maximum daily fee achieved was around $379.62. This represents the highest daily revenue Forge generated from swap fees during this period.

APY:

• The average APY across all liquidity pools was about 1.46%, while the average base APY was also 1.46%. The average APY over the past 30 days was higher, at about 2.09%.

• The maximum APY, base APY, and 30-day average APY were 3.66%, 3.66%, and 3.59%, respectively. These represent the highest yields offered by Forge’s liquidity pools.

APY, Base APY, and 30-Day Average APY vary significantly across pools. Pools like ‘steEVMOS-PEVMOS’ and ‘uniEVMOS-USDC’ stand out with high APYs. A larger TVL does not necessarily correspond to a higher APY. Interestingly, some pools with smaller TVLs, like ‘steEVMOS-PEVMOS,’ offer higher APYs, suggesting that they might implement more aggressive or higher-risk strategies to attract liquidity. It seems the “degen’’ strategy of hype-marketing never fails, even under the most strenuous market conditions. The pie chart also reveals that ‘uniEVMOS-USDC’ and ‘uniEVMOS-USDT’ command the largest share of TVL. The data indicates a fairly competitive and diverse DeFi environment on Forge.

Discussion & Analysis

Forge DEX’s Q2 2023 performance highlights a remarkable period of growth and dominance within the Evmos ecosystem. With the platform’s average TVL (Total Value Locked) for the quarter standing at an impressive $1M and reaching a peak of over $2.25M, Forge has successfully attracted substantial capital. By capturing 75% of the TVL within the Evmos ecosystem, Forge has positioned itself as a leading and influential entity.

This achievement can be attributed to several positive factors that reinforce the stability and attractiveness of Forge’s offerings. Strategies such as the introduction of incentive programs like Inferno, forging new partnerships, and actively aligning with the prevailing sentiment towards DeFi, have all played a role in shaping Forge’s promising trajectory.

About Evmos

Evmos is an EVM-compatible, IBC-enabled blockchain in the Cosmos ecosystem designed for cross-chain dApp development.

The Evmos Core Development Team is on a mission to create and ship the foundational tools necessary for building the cross-chain applications of the future. With groundbreaking roadmap features like EVM Extensions, the Evmos SDK, and the Evmos dApp Store, Evmos gives developers the freedom to take advantage of the IBC and connect their smart contracts to the Cosmos Ecosystem.

This revolutionary technology frees developers from the confines of today’s siloed blockchains.

The future is cross-chain.

Helpful Resources

💻 Developer Documentation: https://evmos.dev/

👾 Official Discord: https://discord.gg/evmos

🐙 GitHub: https://github.com/tharsis/evmos

🕊 Twitter: https://twitter.com/EvmosOrg

📯 Telegram: @EvmosOrg

📄 Medium: https://evmos.blog/

🖥 Evmos Website: https://evmos.org

🌋 Evmos Jobs Board: https://boards.eu.greenhouse.io/evmos

Evmos is the EVM stack for building natively cross-chain decentralized applications.

We encourage you to read the Evmos Manifesto and learn more about our plans to build a cross-chain future.

DISCLAIMER: None of this is financial advice. This content is strictly for educational purposes. It’s not investment advice or a solicitation to buy or sell any assets.

The LST Optimizer dApp is a remarkable platform that allows users to deposit LSTs for increased benefits. The LST Optimizer also allows kETH holders to stake their kETH to earn BSN rewards on top of their kETH yield.

The launch signals a paradigm shift in the Ethereum staking ecosystem, offering unprecedented flexibility, yield optimization, and risk mitigation to ETH stakers. Blockswap invites users to delve into these innovative offerings. The dawn of a new era in Ethereum staking is here, all thanks to the pioneering efforts of Blockswap. Follow Blockswap on Twitter to stay up to date with all the important details.

How it Works Stakehouse protocol allows for proper accounting of staked ETH to derivative ETH in circulation. This unlocks the ability for validators to be curated into (and out of) indexes to get a high and consistent yield to an LSD token. The LSD token (dETH) can yield at 33% more than the Ethereum issuance rate because every 32 ETH validator only mints 24 dETH tokens.

Blockswap is now taking this a step further with a protocol that automatically curates the highest-yielding validators and supplements the yield with stETH and rETH. The new primitive is called kETH and maintains a high target rate through an automated manager. The best part is that kETH can be redeemed for ETH or ETH equivalents, doesn’t rely on liquidity pools for redemption, and does not include an oracle. This reduces the dilution risk and liquidity management risks of LST tokens.

kETH Links kETH Website

https://getketh.com/

dApp

https://dapp.getketh.com/

kETH promo video (quick info)

kETH docs (get a good understanding)

https://docs.joinstakehouse.com/keth/keth_kweth

kETH technical walkthrough (the deep dive)

Codebase

https://github.com/stakehouse-dev/kETH-index-rc

LST Optimizer dApp Overview The LST Optimizer dApp serves as an easy-to-use interface that enables any user to deposit LSTs and LSDs, receive kETH, and stake their kETH for BSN rewards. Users can accomplish these goals by interacting with three different vaults:

1. LST Vault: Enables users to deposit stETH, rETH, and dETH, receiving kETH. Users can toggle between the current and target APR to monitor the performance of the vault in real-time. Future plans include broader LST support.

2. dETH Vault: Deposit dETH, get wkETH, and earn stable yield. wkETH enhances DeFi opportunities outside of the Stakehouse protocol.

3. kETH Vault: Stake kETH, earn BSN tokens, and claim rewards directly from the homepage of the LSD Optimizer dApp. This is only for stETH and rETH deposits.

These vaults are designed to provide accessibility to kETH and the benefits that it provides. Whether you’re new to ETH staking or a seasoned investor, the LST Optimizer dApp offers something for you.

LST Optimizer User Guides

Follow Blockswap Network: Website |+| Twitter |+| Join Discord

DISCLAIMER: The text above is just a description of how Stakehouse works in theory. Any figures mentioned serve only as an illustration. Engaging in any blockchain activities with or without the necessary skills or experience can result in a loss of funds. This is a very experimental tool, so please treat it as such.

Before participating please read the disclaimer here.

First, let’s identify the challenges in DeFi asset management for Users: • Users must spend a large amount of time and effort across many apps and blockchains to find efficient DeFi strategies. • Users cannot easily access complex strategies such as CeFi, RWAs, or Collateralized Assets as part of their portfolio management. • Users cannot easily customize their exposure to specific DeFi + CeFi strategies.

Second, let’s identify the challenges in liquidity management for DeFi Protocols and Institutions: • Strategy providers (yield pool creators/borrowers) suffer from fragmented liquidity across chains due to the difficulties and high cost of creating multi-chain support.

A New Standard for Cross-Chain Asset Management… UnUniFi distinguishes itself from other Asset Management and Yield Aggregation platforms by addressing the limitations and challenges faced by existing solutions. UnUniFi leverages the Cosmos SDK and IBC to ensure maximum scalability; speed; security; and cross-chain interoperability, making it an ideal hub for Asset Management. Regardless of a user’s source chain, UnUniFi streamlines the process, ensuring that every DeFi user can seamlessly access the platform. UnUniFi empowers users to access an unlimited number of yield strategies, while sourcing strategies from the best DeFi protocols and CeFi services. This unique DeFi + CeFi approach enables users to receive unprecedented customizability when managing their assets, all within one easy-to-use cross-chain dashboard.

Meanwhile, strategy providers can leverage UnUniFi’s cross-chain support to deploy their contracts and source global liquidity across blockchains. Professionally operated and custodied strategies are compliant for Institutional and Accredited Investors. UnUniFi’s asset management platform is a one-stop solution enabling individuals, DAOs, funds, and other protocols to earn yield against unlimited strategies, featuring the best DeFi strategies, CeFi strategies, RWAs, and Collateralized Assets.

(Example of DeFi Protocol Integrations) UnUniFi’s Core Application: UnUniFi Yield Aggregator (UYA) Powering the Asset Management Platform is UnUniFi’s core application, the UnUniFi Yield Aggregator, or UYA. The UYA app functions as a cross-chain hub, enabling users to explore the true possibilities of cross-chain asset operation. The unlimited creation of Yield Strategies and Vaults fosters competitive and diverse opportunities.

How are Yield Strategies aggregated (sourced)? • Chain-agnostic, seamless integration with the best DeFi protocols + CeFi Services, enabling access to higher-performing Yield Strategies. In this method, UnUniFi will directly integrate with the source Pool, even if it is on an external chain. • Unlimited strategy creation, allowing any strategy provider to deploy their pool on UnUniFi while fostering cross-chain interoperability and minimizing liquidity fragmentation.

What are the types of Yield Strategies supported?

1. DeFi Strategies e.g. DeFi Protocols, AMM

2. CeFi Strategies (KYC required***) e.g. centralized lending (CeFi RWA)

3. Collateralized Assets: NFT-backed lending, RWAs, and more e.g. non-fungible assets, Fine-Art, Luxury, Tokenized Assets, Tokenized DeFi Positions (Uniswap V3)

***KYC requirements (for CeFi strategies only) can be more decentralized by registering KYC providers via decentralized governance (distributed KYC)

How do users use the UYA? • Basic Users can manage (deposit) any asset type into a vault of their choice, with the vault being composed of one or more underlying strategies. For the average user, the UYA App will be able to display the highest performing yield strategies and vaults, easily allowing them to select a pre-created vault and automatically participate in the highest performing strategies. • Advanced Users can leverage an unprecedented level of customization, with the UYA App allowing anyone to autonomously manage their portfolio exposure by creating their own Vault (permissionless vault creation). This allows for the combination and selection of DeFi + CeFi strategies within the same Vault, while allowing the creator to also specify the weightings of the underlying strategies. Anyone can create a vault, so long as it has not already been created (duplicated vaults will be rejected). • Institutional Users and Accredited Investors (e.g. Funds as Lenders) can manage their assets by depositing funds into CeFi + DeFi strategies. Professionally managed and compliant CeFi + DeFi strategies will be supported via Qualified Custodian.

How do Strategy Providers use the UYA? Strategy providers can create and deploy their contracts/pools on UnUniFi. This mechanism is cross-chain enabled and can be utilized by any party. Below are two examples: • DeFi Protocols (e.g. Automated Market Makers) can add their contracts to the UYA to source global liquidity, fostering cross-chain interoperability and minimizing liquidity fragmentation (by eliminating the need to deploy a pool on multiple chains). • Institutions (e.g. Funds as Borrowers) can create their own lending pool for users, allowing them to aggregate global liquidity and borrow funds from the pool.

So why the rebrand? If you read UnUniFi’s previous article describing What is UnUniFi?, you might be confused about the current positioning. Previously, UnUniFi focused its product offerings as “3 Apps in 1 User Experience” with an emphasis on NFT-Fi (NFT-backed lending) as its core product offering. Together, the 3 core apps would enable “decentralized asset management for all on-chain assets” encompassing both NFT-based assets and DeFi-based assets. This rebrand is in direct alignment with UnUniFi’s mission, and simply represents a restructuring of HOW the products are presented.

The “UnUniFi Yield Aggregator” retains the exact functionality as the previously named “Interchain Yield Aggregator” and will launch as UnUniFi’s core product. The “NFT-Backed Lending” and “Derivatives” apps will retain their functionality and will be deployed as functions within the UnUniFi Yield Aggregator, further enhancing its capabilities. This streamlined rebrand allows UnUniFi to focus on one core product (one core app) while continuing their mission for asset management for all on-chain assets (including NFT based assets!)

Conclusion: UnUniFi’s rebrand from its initial NFT-Fi emphasis to its current focus on efficient, cross-chain asset management represents yet another focused alignment with its core values. By prioritizing the UnUniFi Yield Aggregator and expanding its strategies, UnUniFi ensures diverse yield opportunities for its users. With its revamped narrative, UnUniFi promises enhanced utility, scalability, and innovation, paving the way for a new era of blockchain-based asset management. Whether you’re a seasoned investor, an emerging DAO, or just exploring the blockchain sphere, UnUniFi offers a comprehensive solution that caters to diverse investment needs.

🎉🎉We are happy to announce that Doubler will launch Doubler Sepolia V2 on September 19th. Doubler Sepolia V1 will continue to operate but will immediately cease its DBR production.

This significant Testnet upgrade marks a crucial milestone on Doubler’s path to the mainnet, and we can’t wait for you to join us.

In this announcement, we will share details about the updated Testnet features, more important information, and address the most common Testnet-related questions from the community.”

📚What is Doubler Testnet, and How Long Will the Testnet Run?

The primary purpose of Doubler Testnet is to validate the feasibility of product mechanisms, collect technical performance data, proactively eliminate potential issues and risks, all to ensure a smooth mainnet launch.

We have completed the first phase of the Testnet and identified some issues related to product and mechanism rationality. In order to ensure a successful launch of Doubler on the mainnet, we have optimized and upgraded aspects with concerns in the V1 version, and initiated the V2 Testnet.

Ifthe results of the V2 Testnet prove to be more refined and reasonable, we will be ready for a mainnet launch at any time 🚀.

Quick Recap

Since the launch of Doubler V1 Testnet, we’ve taken the first steps toward exploring the practical application of the Martingale .

📊Let’s take a quick look at our statistics 📊:

👉Pools: 60K+

👉Testers: 40K+

👉Discord Members: 60K+

👉Twitter Followers: 30K+

But we’re just getting started, and more are joining every day. Let’s start by sharing more about the exciting changes brought by the Doubler V2 Testnet upgrade.👇👇👇

📚What’s New in V2 Testnet?

Page Section

• Removed the display of Top 3 pools’ popularity in the “Pool Market,” as popularity is now shown in the POOL list.

• Added a filter for “Boost” pools, allowing users to filter all pools that are in a “Boost” state.

• Added a Pool status filter that allows users to filter pools for a specific coin when selecting, limited to pools in the “ON” status..

Mechanics Section

• Added the parameter “Last Layer Reward” (0%~10%). Users can now set this parameter when creating a pool.

💡The main purpose of setting “Last Layer Reward” is to provide the most basic earnings for users entering the last layer. This portion of the reward comes from increasing the overall Profit Price of the pool and is distributed as a reward for increasing the additional income generated by raising the Profit Price.

For example, consider the #38577 Pool, which is a DETH pool in the V1 version. It has an Avg Price of 1600 USD, a total pool cost of 16000 USD, a total of 10 DETH in the pool, and a Profit Lock of 10%. In the V1 version, the Profit Price for this pool is 1760 USD.

In the V2 version, with all other conditions remaining the same, because the creator added a 1% “Last Layer Reward” parameter when creating the pool, we need to increase the total cost for the last layer entering users by 1% when calculating the Profit Price. Let’s assume that only 1 user entered the last layer, contributing 1 DETH with a cost of 1550 USD. In the V2 version, the Profit Price will change to 1761.7 USD, calculated as follows: ((16000–1550)+(1550*1.01))/10*1.1.

In this example, the Profit Price increased by 1.7 USD due to the increase in the “Last Layer Reward” parameter. Both winning and non-winning users in the last layer will receive a reward worth 15.5 USD.

DBR Rewards Section🏆

• Canceled the output part of “Instant Incentive” in behavior mining.

• Added the “Last Layer Reward” incentive, where the DBR produced comes from the original “Instant Incentive” portion. 99% of the DBR produced in this part will be evenly distributed on a per-unit basis to the participants of the last layer.

• Modified the calculation method for “END POOL” rewards. In the V2 version, users generating “END POOL” actions will receive a 1% reward based on the accumulated DBR quantity of the target pool.

• Revised the Boost reward rules. In contrast to the V1 version where all pools could enjoy the Boost reward bonus, in the V2 version, only pools with TVL exceeding 1% of the total TVL of the Doubler protocol will be eligible for Boost reward bonuses. (During the testing period of V2, we may adjust the 1% parameter for more effective testing data.)

Honorable Doubler

During the testing process of V1, the community’s enthusiasm exceeded our expectations, and we are delighted that the “Doubler” identity system has garnered support from all users. Now, in this version, we are opening applications for “Honorable Doubler.” This identity group will ultimately be awarded to users who have made outstanding contributions to Doubler. Choose your area of expertise and apply now to become a member of “Honorable Doubler.”

• Opening Date: September 18th

• Open to: Everyone

• Purpose: To select outstanding contributors and builders

• Application Focus Areas: Content Creation, Graphic Design, Community Maintenance, Media Promotion, Business Development

• Application Link: https://forms.gle/m5ZrQuU1K7mgnNpC6

• Application Results: If you are not granted the status within 2 business days, it means your application has not been approved. You can refine or modify your materials and reapply.

🚨Note:

👉“Honorable Doubler” will have the opportunity to advance to the “Ambassador” identity group. Specific details will be announced in future official announcements.

👉Inclusion in the approved applicant list does not guarantee a final spot as “Honorable Doubler.” The contribution assessment will primarily follow a final voting and elimination system. If it is found that a contributor’s value is extremely low during the process, Doubler reserves the right to revoke their status.

👉If you have previously received an invitation and are listed in the registration, you will automatically receive the identity grant. Effective immediately upon this announcement, the invitation system is discontinued, and any previously received invitations will expire and no longer be accepted.

👉“Honorable Doubler” is for significant contributors, and more benefits and rewards will be gradually introduced.🎁🎁🎁🎁

🚨Important Note

• The DBR token contracts for both V1 and V2 versions are the same, so users do not need to take any action regarding the DBR tokens they have already received.

• In V2, the V1 test tokens will be retained, and users do not need to claim them again. The Testnet rules will remain the same as in V1.

• In Doubler’s testnet, the total reward token threshold for the roles of “Loyal Doubler,” “Honorable Doubler,” “Ambassador,” and Galxe Users is 4.5 million DBR.

• Testnet mechanism parameters do not represent the actual parameters for the mainnet launch. We need to determine the mainnet parameters based on Sepolia Testnet and ITO (Initial Token Offering) activity data.

• The exchange details for the testnet token DBR will be announced before the mainnet launch to ensure the fair distribution of testnet rewards within the community, facilitating a smoother launch of Doubler on the mainnet.

⚠️ Reminder: If you cheat or fail to comply with testnet rules in any way, you may miss out on rewards.

📚How to Quickly Join Doubler?

If you’re new to Doubler, you can participate quickly through our task activity. 🔥🔥For more information on testnet rules and tutorials, please check out Announcing: Doubler Rewards Testnet Online.

About Doubler

Doubler is an open financial strategy tool based on smart contracts that aims to optimize cryptocurrency asset investment strategies and minimize risks while pursuing rapid profitability. It utilizes the application of the “martingale” strategy, inspired by the financial market concept, and leverages market aggregation effects to execute its strategies, continually lowering the cost benchmark of the fund pool.

Below is a recap & summary of how the AMA went down 👇

1. What is kinza Finance? Kinza Finance was founded by two core team members, our CEO Farseek and CTO Swordholder. They have deep experience in the traditional finance, tech, and blockchain worlds, including experience at Google, Goldman Sachs, and experience building DeFi at GRO and Mantle network.

They had the vision to build the pinnacle of sustainable on-chain money markets with a priority on security and capital efficiency — and as a team, we are realizing that vision.

Kinza Finance is a DeFi lending platform on BNB Chain. We were a member of the Binance Labs MVB accelerator Season 6 — and were selected as a standout project for Binance Labs investment. Our focus as a project is on security and capital efficiency — so our mainnet (launched!) already incorporates some cutting edge solutions like Asset Isolation to protect the protocol with high-level security.

Kinza Finance has developed a really exciting and innovative tokenomics model inspired by Ve(3,3) known as ve-Real-Yield. Sounds complicated, but it isn’t — so basically more than half of our token supply will go to community emissions. Here is how — after our TGE, there will be a pool of $KZA that will be distributed as rewards each week.

$KZA holders can stake to receive $xKZA which can be used to vote to direct these rewards into selected lending markets — the directed $KZA are then earned as borrowing rewards. This incentivizes borrowing — which incentivizes lending, and inspires the overall energy and health of the Kinza protocol.

This is a unique approach to building strong liquidity — I for one can’t wait to see it in action. Welcome to the Kinza Real Yield vision!

1. What makes kinza Finance unique compared to their competitors? I’ll get into a few of the features and approaches that make Kinza standout amongst the rest.

Security is a big one here. Our team is constantly on the lookout for innovative ways to level-up our feature-set and platform security. I mentioned asset isolation above — what is asset isolation?

Asset Isolation is one of the approaches to protecting the overall health of the protocol by isolating higher risk or asset pools with high volatility. Each asset is either be isolated, closed, or open — an Isolated asset type can be used as collateral — but in isolation — so other deposited assets won’t be allowed to be used as collateral in tandem. Closed asset types cannot be used as collateral, and open-type assets can be freely used as collateral simultaneously with other open-type assets. This prevents a domino of negative effects in one pool affecting the whole system.

As an example — Aave v2 did not have a similar feature-set when the recent Curve incident went down…..This led Aave v2 as an entire system to become extremely vulnerable from the falling price action of CRV.

Other features on Kinza are focused on maximizing capital efficiency — for instance — Efficiency Mode feature. Toggling on efficiency mode will give users more efficient Loan To Value and other parameters on specific classes of assets — so users can do more with their capital. Currently Kinza supports a stablecoin asset class that can be used with E-mode.

We also have really unique opportunities to maximize capital efficiency via our partner collaborations — including with Helio — i’m sure i’ll get into this later on.

Also — really want to highlight our ve-real-yield tokenomics model. So this really makes Kinza stand out, and I can’t wait to see this rolled out. So we talked about the pools of tokens $KZA that will be directed and emitted as borrower rewards each week — this process will occur over four years.

I’ll also note here that all token allocations, including team token allocations are vesting over fours years — this is to ensure sustainability and bullish for the long-term momentum of the project — and this four years includes community emissions.

Also keep in mind, the first to get their hands on $KZA are community who provide liquidity now before TGE A massive 5% of our total $KZA supply will go out in this airdrop.

Just to finish the thought on tokenomics — So ve-Real-yield — we have the staked token holders — $xKZA holders — voting each week to direct upcoming emissions for the next week. Here there are also bribes. Now bribes in the form of $KZA can be directed to voters to get them to vote for pools that benefit them. This whole process of battling for directing and earning the weekly $KZA emissions is known as the Kinza Wars.

This will be very exciting, and fuel a ton of bullish energy, liquidity, and generate real yield for the community. The team was inspired by the ve-3,3 experiments that brought insane TVL to DEX’s and realized that a similar model would be perfect for driving healthy liquidity for a lending protcool. I can’t wait for the kinza Wars.

So really, lots of awesome features and opportunities to take advantage of now and in the upcoming months/years.

1. Could you tell us more about the partnership between Kinza & Helio? Definitely — we are really excited to collaborate and innovate in our partnership with Helio. I’ll get into a few of the cool things we have done already and there is so much more to come

First off — Kinza supports $HAY on our mainnet. This means that users can deposit $HAY token and lend and borrow with it on Kinza Finance. We are excited to build our stablecoin markets and give users flexible options.

Additionally, we also took a look at SnBNB and collaborated with Helio to support it on the platform (just announced last week!) — this means that users can stake BNB on synclub, earn on staking, receive 1:1 SnBNB, and take that to deposit and put to work on Kinza Finance. This is improves on SnBNB’s capital efficiency and we can’t wait to build more with Helio.

1. How is risk managed at kinza Finance? Risk and security are priority at Kinza. For starters, our protocol has been develop in-part with elements of time-tested code. Next, as our decentralized platform is powered by smart-contracts, we are commited to consistent security audits to test, upgrade, and make our protocol bulletproof. We have already completed two security audits thanks to our partners at Salus security, and Omniscia.

Next, as i mentioned a little about above, we have rock-solid security features and are innovating all the time. To get a sense of this innovation — check out our article here exploring new features as a result of the Curve incident, including an Interest Rate controller, and integration of new risk assessment parameters like available DEX liquidity and token volatility

For now, Kinza is already a very robust, security protocol using DeFi wallets, smart contracts, and features like asset isolation to ensure sustainable and safe lending.

1. What is the roadmap for kinza Finance? We are new, as a project, we just launched this year — and it’s beautiful the progress made so far. We build our channels and docs, deployed the testnet, launched mainnet at app.kinza.finance — and are powering ahead. We are nearing the $1M TVL mark in under a month which is beautiful to see — we are just getting started.

We’ve got so much in store. For starters our team doesn’t stop developing — we are always innovating, improving, testing, and onboarding new features to the platform by way of the Kinza testnet. Development is always on the go, marketing is starting to build and we are excited to bring new eyes to the project.

I am also very thrilled that we are gearing up to our TGE, no date is set to announce yet, but development is going very well, and we are beyond excited to launch $KZA — execute the airdrop to early liquidity providers, and kick start the Kinza Wars.

If you want to give yourself a chance to be a part of the $KZA airdrop — head over to kinza finance and supply some liquidity to the protocol.Use the opportunity to support Helio as well, and deposit some $HAY or $SnBNB!

1. Lastly, can you share more about the latest DeFi Summer campaign that Kinza is launching together with Helio? Yeah! Keep the DeFi summer rollin’.

We are currently in the middle of our DeFi Summer on Galxe campaign with Helio. It’s a lot of fun with some serious prizes.

The campaign is running until the 7th of September — so there is plenty of time to jump in and join the fun. All you have to do is head to the Galxe campaign — go through and complete the Kinza tasks, and you will have a chance to win 1,500 $HAY.

Combine this with the rest of the Helio DeFi Summer tasks, and you can give yourself a chance at the 20,000 HAY.

Here is a link to Kinza Finance’s campaign.

Community Question 1: Kinza Finance’s integration of Efficiency Mode seems promising for maximizing capital efficiency. Could you elaborate on the technicalities of this mode? How does it ensure that users get the most out of their assets in terms of borrowing and lending? E-Mode is awesome. Efficiency Mode is on of the early capital efficiency features on Kinza Finance- it is essentially a boost mode for increased capital efficiency.

When Efficiency Mode is turned on, applicable assets get boosted with adjusted values for the following parameters:

LTV (higher maximum loan for e-mode assets), Liquidation Threshold (emode assets can be borrowed with a less sensitive liquidation threshold, and Liquidation Penalty. (Liquidation penalties are lower when E-mode assets are used)

For now this mode is available for a stablecoin class of assets, but e-mode compatible asset types will evolve overtime as we support users with capital efficiency boosts!

If you want to try it out you just need to toggle it on from your Kinza dashboard.

Community Question 2: Could you explain in more detail how Kinza Finance’s lending pools work and what advantages they offer to both depositors and borrowers in the DeFi ecosystem? Kinza Finance is built to offer flexible opportunities for investors of many different kinds. Each aspect of the protocol brings a different opportunity for investors and DeFi users looking to generate with their capital.

The Lending pools are money markets powered by smart contracts that allow borrowing and lending onchain — without any intermediaries. In order to achieve this — incentives are built into the system to ensure that all operations and mechanisms run smooth and proper rewards given. So as a borrower — you provide liquidity and earn a % of the interest generated by borrowers for providing that liquidity.

This is a great way to earn on capital without having to sell anything. As a borrower — you are able to freely borrow according to your collateral, and unique to Kinza Finance, you can even generate real yield in the form of $KZA and earn as a borrower! If you are experienced, you can also earn by acting as a liquidator, and on Kinza Finance — by earning a portion of interest and bribes while acting in the governance process of directing $KZA emissions each week.

Keeping everything on chain also allows security to remain excellent and transparent with improvements and audits

Community Question 3: In the section about Real Yield, you mention that Kinza Finance focuses on borrowing incentives and effective interest rates to attract deposits. Can you provide more details on how these incentives work and how they encourage participation in the ecosystem? So the core of the unique borrower incentives on Kinza Finance has to do with ve-Real-Yield tokenomics. If you look at our tokenomics (posting right after this message) more than 50% of our token supply is allocated to Community rewards.

This token supply will be emmited each week and directed as per the Kinza Wars The majority of these emissions are earned by borrowers. So if you are borrowing from $HAY lending pool, and $xKZA voters direct the $KZA in the upcoming week to the $HAY lending pool, then you will recieve a % of the weekly emisisons as you borrow from that pool.

The $KZA emissions incentivize borrowers, and with large amounts of real yield up for grabs each week — more lenders will provide liquidity, so more borrowers can get a piece of the emissions. This encourages participation accross the board and will bring insane energy to the protocol and boost TVL for a sustainable ecosystem

Let’s Dive Into the Details

Community rewards

RollApes 💈 🦧

Say hello to RollApes! This new role will be used to reward Dymension’s non-technical community. RollApes are encouraged to “ape” into RollApps. With 10% of the rewards allocated to this user group, RollApes will need to engage with the Dymension ecosystem by interacting with RollApps and the Dymension Hub. The more you participate, the greater your rewards!

Stay tuned to Dymension’s social media upcoming posts and watch out for the RollApe picture. Be prepared to Ape.

Top 10 RollApps

Dymension values the developers that go the extra mile and build new projects with the exciting new tools at hand. Top 10 RollApps will be allocated 10% of the reward pool. Let your imagination run freely. RollApps are ultra-fast, IBC-connected, and VM-agnostic.

Developers may easily deploy EVM smart contracts to their RollApps. Moving existing applications to deployed RollApps can be as easy as just a few clicks. Additionally, Cosmos SDK applications may be migrated to run as a RollApp.

Voting for the Top 10 RollApps will be held in a special way closer to the end of incentivized testnet to give people enough time to build. We promise to keep you in the loop with all the information you need about the beginning and ending of voting periods, and the eligible voters. To top it off, rewards for the Top 10 RollApps along with all other rewards will be disbursed instantly post-genesis, with no lock-up period!

Top 10 rewards will be distributed into three brackets:

Tier 1:* The top 3 RollApps will receive an equal share of 200K DYM each.*

Tier 2:* RollApps ranked 4, 5 and 6 will receive an equal share of 100K DYM each.*

Tier 3:* Each of the last 4 performers will receive an equal share of the 25K DYM.*