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Category: Decentralised Finance (DeFi)

Decentralized Finance (DeFi) is a sector within the cryptocurrency and blockchain space which aims to provide a decentralized version of the products available in traditional finance- without central control and at a lower cost with potentially higher returns. These products include loans, interest-bearing deposits and borrowing services.

The advantages of decentralized finance are that it addresses the problems we have with the traditional banking system. For example, decentralized finance protocols are controlled by multiple people, and all participants are required to abide by the rules written into the smart contracts underlying the protocols.

  • ZKsync ($ZK) Token Airdrop Guide: How to claim?

    ZKsync ($ZK) Token Airdrop Guide: How to claim?

    ZKsync is a layer-2 scaling solution designed to speed up transactions and lower gas fees on Ethereum. There are reports ZKsync have have their token generation event (TGE) in the coming few days. Their airdrop is also anticipated to be around 13th June 2024. Meanwhile, ZKsync airdrop could entitle you to both a ZKsync ($ZK) and an ecosystem project airdrop! Here’s how to get a potential ZKsync ($ZK) token and ecosystem airdrop.

    Check out our Upcoming Crypto Airdrops! And our video guide on how to get the ZKsync $ZK token airdrop!

    ZKsync ($ZK) Airdrop Step-by-step Guide

    Here’s how to receive a potential ZKsync ($ZK) token airdrop:

    1. Add ZKsync Era Alpha Mainnet on MetaMask.
    2. Bridge Funds to ZKsync Lite and ZKsync Era Mainnet.
    3. Interact with ZKsync Lite and ZKsync Era Mainnet Alpha.
    4. Interact with the ZKsync ecosystem.
    5. Mint NFTs for ZKsync airdrop.
    6. Complete quests on ZKsync’s Crew3.
    7. Join the ZKsync Guild
    8. Bonus: Complete ZKsync Era tasks on RabbitHole.
    9. Mint Dappad zk-KYC NFT

    See below for more in-depth details!

    What is ZKsync?

    ZKsync is a layer-2 scaling solution designed to speed up transactions and lower gas fees on the Ethereum network while maintaining high security and privacy for users. It does this through Zero-Knowledge Rollup (ZK-Rollup) — transactions on Ethereum are bundled up to be processed off-chain and then sent back to the main chain after validation.

    ZKsync is developed by Matter Labs. The company was co-founded in 2019 by Alex Gluchowski and Alexandr Vlasov. Matter Labs has raised over $58 million. Their latest funding was raised on 8th November 2021 from a Series B round led by Andreessen Horowitz (a16z). Other major investors include Dragonfly Capital, Placeholder, 1kx, and more.

    What is a Zero-Knowledge (ZK) Rollup?

    The ZK-rollup is the core element of ZKsync. ZK-rollups generate cryptographic proofs (ZK-SNARK or ZK-STARK) to verify transactions without revealing the information itself, hence the name “zero-knowledge proofs.” It maintains privacy by making transaction details such as token amounts anonymous. It is also highly secure because compressed transaction data are stored on-chain.

    Unlike other layer-2 solutions, ZKsync relies on math instead of third-party validators to scale computation. Validators are known as “operators” or “sequencers” and are in charge of executing, aggregating, and submitting transactions to the main chain, but they do not validate the transactions themselves — the Ethereum smart contract does. By relying on math and cryptographic security, ZKsync ensures a truly secure and trustless environment for decentralized finance (DeFi).

    What’s the Difference Between ZKsync Era and ZKsync Lite?

    At its inception, ZKsync lacked support for smart contracts, preventing activities such as using DeFi or purchasing NFTs, which are common on Ethereum. However, it did provide significant scaling for Ethereum, leading to its nickname “ZKsync Lite.”

    The ZKsync Era represents an upgrade to the network, delivering all the features of Ethereum while also providing more cost-effective and faster transactions.

    Does ZKsync have a Token?

    ZKsync has a native token known as $ZK, which was launched on 17th June 2024. The $ZK token is the native utility and governance token in the ZKsync ecosystem by maintaining and enhancing ZKsync’s operation. One main use for the ZKsync token is to pay for transaction fees on the ZKsync network and to vote on governance decisions. Users can also stake $ZK tokens and they will be rewarded with additional ZK tokens.

    Is there a ZKsync ($ZK) Token Airdrop?

    The ZKsync ($ZK) token airdrop started on 24th June 2024 and eligible users can claim their airdrop until 5th January 2025. 3.675 billion $ZK tokens i.e. 17.5% of the total token supply will be airdropped to eligible users.

    How to claim ZKsync ($ZK) Token Airdrop

    To check your eligibility and claim your ZKsync ($ZK) token airdrop, connect your wallet or GitHub username HERE.

    How to Receive Potential ZKsync ($ZK) Token Airdrop?

    The best chance to receive $ZKS airdrop is to interact with ZKsync Lite and ZKsync Era Mainnet Alpha. Moreover, many projects in the zkSync ecosystem also do not have a token yet. So, interacting with their ecosystem dApps may entitle you to potential airdrops from zkSync and the ecosystem project. Here’s how to receive a potential ZKsync token airdrop:

    1. Add ZKsync Era Alpha Mainnet on MetaMask.
    2. Bridge Funds to ZKsync.
    3. Interact with ZKsync Lite and ZKsync Era Mainnet Alpha.
    4. Interact with the ZKsync ecosystem.
    5. Complete quests on ZKsync’s Crew3.

    Add ZKsync Era Alpha Mainnet on MetaMask

    You will need to connect ZKsync Era alpha mainnet to your MetaMask. To do this, go to your MetaMask and click on the network button, then “Add network”. Then, click “Add a network manually”. Add the following information and click “Save”:

    • Network Name: ZKsync Era Mainnet
    • New RPC URL: https://mainnet.era.zksync.io
    • Chain ID: 324
    • Currency Symbol: ETH
    • Block Explorer URL: https://explorer.zksync.io/
    • WebSocket URL: wss://mainnet.era.zksync.io/ws
    Add zkSync Era Alpha Mainnet on MetaMask for potential zkSync airdrop
    Add ZKsync Era Alpha Mainnet on MetaMask

    Bridge Funds to ZKsync Era Mainnet and ZKsync Lite

    Bridge funds from Ethereum Mainnet to ZKsync Era Mainnet at bridge.zksync.io by connecting your wallet. Select the amount you wish to bridge and click “deposit”. Then, swap back to Ethereum Mainnet by clicking the arrows, choosing the amount you wish to bridge back to Ethereum, and click “Withdraw”.

    Bridge funds to ZKsync Lite at https://lite.zksync.io/ by connecting your wallet. Then, top up your balance using the ZKsync bridge. You can also try using other bridges in the ZKsync Lite ecosystem such as Orbiter Finance and ZigZag Exchange.

    Bridge funds to zkSync
    Bridge funds to ZKsync

    Cheapest way to bridge funds to ZKsync Era?

    Here’s a cheaper way to bridge funds to zkSync Era Mainnet:

    1. Buy ETH on a centralized exchange (e.g. Binance or Bybit)- Sign up for a Bybit account HERE!
    2. Send your ETH from the Exchange to your Metamask using the Arbitrum network (fees are around US$1-2)
    3. Use Orbiter Finance to bridge ETH from Arbitrum to ZKsync Era (fees are around US$2-3)
    Bridge to zkSync Era with Orbiter Finance

    Interact with ZKsync Lite and ZKsync Era Mainnet Alpha

    Any user can now use ZKsync Lite (formerly known as ZKsync 1.0) and ZKsync Era Mainnet Alpha. This can be a potential way for users to get a zkSync airdrop even though they missed the whitelist. To interact with zkSync Lite, connect your L1 ETH wallet on ZKsync Lite (note the single-time account activation fee of 1.279 USDT). Then, interact by moving your balances from L1 on ZKsync Lite by depositing ETH or USDT. Or, withdraw your funds back from ZKsync Lite to L1.

    Interact with the ZKsync ecosystem

    ZKsync has an entire ecosystem of protocols. Here are some top ZKsync ecosystem projects you could interact with to maximise your chances of a potential ZKsync airdrop and even double your rewards:

    1. Orbiter Finance
    2. ZigZag Exchange
    3. Bungee
    4. Argent
    5. Onchain Trade
    6. SyncSwap
    7. SpaceFi
    8. Tevaera
    9. Velocore
    10. iZUMi Finance
    11. Mute.io
    12. ZKsync Name Service
    13. GameSwift

    Orbiter Finance

    Orbiter Finance is a decentralized cross-rollup layer-2 bridge that supports ZKsync as well as Arbitrum. You can send ETH, MATIC, BNB and other tokens to ZKsync and other layer-2 blockchains via the bridge. However, these are mainnet tokens (with value) since the bridge is live, but you can always bridge them back to Ethereum. Check out our Orbiter Finance Token Airdrop Guide.

    Send funds to Orbiter Finance
    orbiter.finance

    ZigZag Exchange

    ZigZag Exchange is an orderbook decentralized exchange (DEX) powered by ZK-rollups. You can trade or swap on ZigZag Exchange. Do 1 buy or sell transaction between ETH and USDC every week (gas fees are less than US$0.25). Here’s how to interact with ZigZag Exchange:

    1. Deposit funds to https://lite.zksync.io/. Note you will need to deposit at least US$3 worth of ETH or USDC in order to pay the 1-time activation fee on Zigzag (around US$2.6).
    2. Connect your wallet to https://trade.zigzag.exchange/?market=ETH-USDC&network=zksync.
    3. Do 1 buy or sell transaction between ETH and USDC every week (gas fees are less than US$0.25).

    ZigZag Exchange has also just finished its second round of airdrops (out of 7). So check out our ZigZag Exchange ($ZZ) token airdrop guide so you won’t miss out on their future airdrops!

    Trade on ZigZag Exchange
    ZigZag Exchange

    Bungee

    Bungee is a tool powered by Socket that helps people find the best way to move a digital token from one blockchain to another. Bungee has recently gone live on ZKsync Era. So sending tokens to and from ZKsync Era (and especially using the Stargate route) could position yourself for potential ZKsync, Bungee, Socket, Stargate AND LayerZero airdrops!

    Check out how with our Bungee Token Airdrop Guide

    Argent

    Argent is the only crypto wallet that offers multi-signature security and social recovery. The wallet is built on ZKsync and is the first wallet for StarkNet. The wallet has a mobile version available on the App Store and Google Play. Download Argent and use their wallet! You can send and receive funds, buy, earn, and stake crypto using Argent.

    Argent recently announced an NFT drop in collaboration with JediSwap, here’s how to get the NFT:

    1. Do a swap on JediSwap using your Argent X wallet on mainnet before 23:59 UTC on 23rd May 2023. Those who have done a swap on JediSwap using Argent X wallet before 1st April 2023 will be automatically eligible for the snapshot and won’t need to do any more swaps.
    2. To do the swap, either use the built-in swap feature in the Argent X wallet or do the swap at https://app.jediswap.xyz/#/swap.
    3. The team will take the snapshot at 23:59 UTC on 23rd May 2023. The claim/mint page will be shared afterwards, and you will have a total of 12 months from then to mint your NFT.
    Argent wallet
    Argent Wallet (Image source: Argent)

    Onchain Trade

    Onchain Trade is a money market and perps DEX offering up to 50x leverage. Connect your wallet to their protocol and test out their features! Check out our Onchain Trade ($OT) token airdrop guide (now LIVE)!

    SyncSwap

    SyncSwap is a DEX built on ZKsync and has recently announced its launch on ZKsync Era testnet. It is predicted they will be one of the first protocols to launch on ZKsync Era Mainnet since they are one of the first protocols built on ZKsync. Therefore, interacting with SyncSwap will put you in a good position to get a potential ZKsync token airdrop (and possibly a SyncSwap airdrop too)! (fii-institute) Here’s how to interact with Syncswap:

    1. Connect your wallet to Syncswap.
    2. Go to their Swap page. Choose the type and amount of tokens and click “Swap”. We also suggest swapping tokens on the ZKsync network using Paymaster. Paymaster allows SyncSwap users to pay gas fees using other tokens such as $USDT, $USDC and $HOLD in addition to ETH. To do this, first make sure your MetaMask wallet and SyncSwap are both on the ZKsync Era Network. Then, click and hold on your account balance and you can see the fee discounts offered by Paymaster when using other tokens to pay for gas fees. For example, you get a 50% fee discount when paying with $HOLD!
    3. Deposit liquidity to their Pools. On the top bar, click the down arrow, “Positions” and “New Position”. Select USDC and ETH and click “Enter Pool”. Then click “Deposit” located on the left-hand side of the screen and deposit both USDC and ETH. Then, unlock your tokens and deposit them into the pool.
    4. Join their Discord.
    5. Go to their Guild page and complete the tasks.

    Interacting with SyncSwap is one of the best ways to maximize your potential airdrop with the least amount of fees. Learn how with our SyncSwap token airdrop guide!

    SpaceFi

    SpaceFi allows users can trade, earn, mint, stake, sell, create, and invest in a variety of projects. With SpaceFi, users can also swap assets, farm rewards, mint, and stake Planet NFTs, join or create a spacebase, and invest in new projects. SpaceFi has already launched 30 million $SPACE on Evmos mainnet, and will be launching 30 million $SPACE on ZKsync 2.0 (i.e. ZKsync Era) when mainnet goes live. The team has also confirmed they will be doing an airdrop.

    Since the protocol is already live on ZKsync testnet, it may be a good idea to interact with SpaceFi in anticipation of when zkSync Era mainnet goes live. To interact with SpaceFi, request testnet tokens here. Then connect your wallet to Space.io, swap some $tSPACE tokens. Then, add liquidity to their pool. Finally, join the SpaceFi Discord and their Crew3. You can also complete the tasks on Crew3 which include joining their guilds, adding them to your CoinGecko watchlist or inviting friends to their Discord.

    You can check out our SpaceFi token airdrop guide!

    Tevaera

    Tevaera aims to build an EVM-compatible on-chain gaming ecosystem on ZKsync. Their mainnet is now live on ZKsync Era.

    1. Connect your wallet to log in. Make sure you are on the ZKsync Era network.
    2. Mint your Tevan ID and Guardian NFTs.
    3. Connect your citizen ID to Discord.
    4. Play Teva Run to earn Karma Points.
    5. Complete tasks on Tevaea’s Zealy Questboard.
    6. Mint ONFTs by going onto your portfolio and clicking “Mint ONFT bundle”.
    7. Bridge one ONFT from ZKsync Era to Arbitrum network.
    8. Optional: Add KP (Karma) to your web3 vault. Note that 1KP is around 0.021 USD.

    For more details, check out our Tevaera $TEVA token airdrop guide!

    Tevaera Run

    Velocore

    Velocore is the first ever ve(3,3) DEX on ZKsync. They have a native token $VC, so there may be a chance of a Velocore airdrop too? Here’s how to interact with Velocore:

    1. If you don’t have funds on ZKsync Era yet, use Orbiter.finance to bridge funds to ZKsync Era.
    2. Connect your wallet to Velocore’s swap page and swap some tokens. You can swap any token pairings e.g. ETH to USDT, ETH to VC etc.
    3. Go to their Liquidity Pools and add liquidity. There are 30 pools to choose from!
    4. Keep an eye on their Launchpad for upcoming projects and join in.

    Check out our Velocore ($VC) token airdrop guide!

    iZUMi Finance

    iZUMi Finance is a multi-chain DeFi protocol that provides One-Stop Liquidity as a Service (LaaS). iZiSwap, a next-generation DEX on Multi-Chains, is live on ZKsync Era and provides concentrated liquidity AMM and generates extra income for your assets. They also have their own $iZi token. In addition to doing their own airdrop, they have also promised to distribute 50% if any ZKsync and Linea airdrops they receive! Here’s how to interact with iZUMi Finance:

    1. Swap $iZi tokens.
    2. Add liquidity.
    3. Earn iPoints.
    4. Complete Linea Voyage Week 8.

    Check out our iZUMi Finance $iZi token airdrop guide!

    Mute.io

    Mute.io is a AMM DEX with limit orders, a farming and Bond platform. They are live on ZKsync Era. Although the mute.io team have confirmed the will NOT do an airdrop, interacting with this protocol may nevertheless be helpful in getting a ZKsync airdrop. Here’s how to interact with Mute.io:

    1. If you don’t have funds onZKsync Era yet, use Orbiter.finance to bridge funds to ZKsync Era.
    2. Connect your wallet to their Swap page and swap any amount of tokens.
    3. Go to their Pools and add liquidity. You can earn fees for doing this! Click “Manage” and choose the amount of liquidity you wish to add. You can also withdraw your liquidity and check your rewards at any time.
    4. As an optional task, you can buy their $MUTE token and lock it up here.

    ZKsync Name Service

    ZKsync Name Service is an omnichain name service that allows users to establish their Web3 profile. Here’s how to interact with ZKsync Name Service:

    1. Go to https://app.zkns.domains/.
    2. Search for an available domain name. If you find an available one that you want, click “Available”.
    3. Click “Request to register with ETH” and approve the transaction. It will cost around US$6.5 to buy a domain.

    GameSwift

    GameSwift aims to be a one-stop web3 gaming ecosystem based on a modular chain and zkEVM technology. From 28th September 2023, GameSwift will be hosting a GameSwift Multiverse Expansion campaign which will last for 6 weeks. In particular, week 3 of the campaign which goes live on 12th October 2023 will involve bridging to ZKsync! So completing the tasks for week 3 may position yourself for a potential GameSwift and ZKsync airdrop! Here’s how:

    • Swap USDC for $GSWIFT.
    • Bridge 10 $GSWIFT from Arbitrum Chain to ZKsync Network.
    • Go to the “Burn” tab, switch to ZKsync network on your wallet and burn 10 $GSWIFT.
    • Return to the GameSwift Galxe page and claim your Infinity Stone.

    GameSwift also has tasks for interacting with the LayerZero network. So, there is a chance to also get a potential LayerZero airdrop too by doing these tasks!

    Check out our LayerZero ($ZRO) Token Airdrop Guide

    Donate on Gitcoin

    Gitcoin is a community platform that funds and coordinate new open-source developments. To donate, go to the “grants” page. Pay via the ZKsync network for lower transaction fees.

    Donate on Gitcoin
    Gitcoin Grants

    Mint NFTs for a ZKsync airdrop: 3 in 1 airdrop!

    We have found 3 projects which are also doing airdrops! All you have to do is complete the tasks and mint their NFTs! What’s more, these projects require you to interact with ZKsync, so you will be positioning yourself for a ZKsync airdrop as well.

    Hypercomic

    Hypercomic has just announced its collaboration with ZKsync and has launched a NFT minting celebration campaign. The objective is to complete the tasks and mint their exclusive ZK24 NFTs. There are 3 parts to the minting campaign, Part 1: Transaction Maker is LIVE until 9th February 2024, Part 2: ZKsync Expert will run from 5th to 15th February 2024, and Part 3: Dapp Hustler will run from 13th to 23rd February 2024.

    To mint the ZK24 NFTs, connect your wallet HERE to see which NFTs you may already qualify for. For Part 1: Transaction maker, users with 30 or more ZKsync transactions, users with 50 or more ZKsync transaction and users with 100 or more ZKsync transactions will be eligible to mint 1 NFT. So, depending on the number of ZKsync transactions you have, you can get a maximum of 3 NFTs in Part 1. What’s more, the NFT you can mint for having over 100 ZKsync transactions is a Boost NFT which will help boost the cubic mining power in the Hypercomic Dapp.

    To mint the ZK24 NFTs, connect your wallet HERE to see which NFTs you may already qualify for. If you qualify, you will be able to mint the NFT. Then, go to the “Airdrop” page to check your eligibility for the Hypercomic ($HYCO) airdrop. Users who have over 60 transactions are eligible to claim the HYCO token airdrop and are given on a first come first served basis for the first 15,000 people.

    Tabi

    Tabi is the first gaming chain on Cosmos. Whilst you need to be on Binance Smart Chain to complete the tasks, 2 of them are on ZKsync, which will position yourself for any ZKsync related airdrops. Complete the airdrop tasks on Tabi by connecting to their site and completing their tasks. These are mostly social tasks such as connecting your social media profiles and following their social media pages. You will be able to mint the NFT once you have completed the tasks.

    GRVT

    GRVT is an on-chain perpetuals exchange for ZKsync. They are currently running a social airdrop campaign. For now, all you need to do is join their waitlist. Joining their waitlist lets you earn invite points for airdrop rights as well as a ZKsync mystery box.

    Complete quests on Crew3

    Go to ZKsync’s Crew3 Questboard and complete the quests. Tasks include following them on social media, reading their articles, and completing quizzes.

    Join the ZKsync Guild

    Connect your wallet and Google and Discord accounts to https://guild.xyz/zksync-era. Note you will also need at least 20 points on Gitcoin Passport. To check the number of points you have on Gitcoin Passport, connect your wallet to https://passport.gitcoin.co/#/dashboard. On the same page, you can also connect your other accounts to gain more points. However, some accounts require more than just having an account. For some, there are requirements to have a certain age/status/role or completed tasks in those accounts in order to qualify, which will make it difficult. Here’s a list of the easiest/ least requirement accounts to sign up for in order to get 20 points: Twitter, Discord, Google, Github, Facebook, LinkedIn, ENS, BrightID, Proof of Humanity, ETH, ZKsync, Gnosis Safe, Trusta Labs.

    Bonus: Complete ZKsync Era tasks on RabbitHole

    RabbitHole now offers the first ZKsync Era quests, which include SyncSwap, EraLend, and Maverick. Completing each quest earns users NFT rewards and helps build their onchain history in the ZKsync ecosystem. The more quests you complete, the more quest rewards you become eligible for. Note that even if you have done similar tasks before, you will need to do them again to be eligible on RabbitHole. Here’s how to complete the tasks on RabbitHole:

    1. Make sure you are on the Ethereum network and connect your wallet to RabbitHole.
    2. Swap on Uniswap on Optimism.
    3. Deposit on Exactly on Optimism.

    Mint Dappad zk-KYC NFT

    Dappad is running a campaign where you can mint a non-transferable Soulbound NFT powered by ZkPass and Paymaster. Minting this NFT will give you access to future launchpads in ZKsync, and it could be key to qualifying for the potential ZKsync ($ZK) token airdrop. Note you only have 10 days (i.e. until 29th March 2024) to mint the NFT! Here’s how to mint the Dappad zk-KYC NFT:

    1. Go to DappLabs Galxe Page and complete the tasks.
    2. Download the zkPass TransGate Chrome extension HERE.
    3. Go to https://app.dappad.app/kyc and log in with your crypto wallet.
    4. Select 1 of the 5 supported centralized exchange accounts (i.e. Binance, Bybit, KuCoin, OKEx, Coinbase) for KYC verification.
    5. Log in to your selected exchange account when redirected. Make sure your exchange account is at least Level 1 verified.
    6. Approve sharing your KYC details with zkPass by clicking “START”.
    7. Return to the Dappad launchpad page after verification to see the ‘Already Verified KYC’.
    8. Your wallet app will then prompt you to sign a contract. Confirm the transaction and the non-transferable Dappad zk-KYC NFT will be sent to your wallet with 0 fees. The NFT is proof that you have successfully completed the KYC verification process.

    You can also check out our step-by-step video guide HERE.

    Best ZKsync Airdrop Route for swaps?

    Here’s one of the best ZKsync Airdrop routes for swaps. By doing this route you can make the most of the potential ZKsync airdrop and interact with other protocols and possibly get those airdrops too!

    1. Swap ETH for USDC using Syncswap
    2. Swap USDC for WETH using Mute.io
    3. Swap WETH for USDT using Symbiosis
    4. Swap USDT for USDC using SpaceFi
    5. Swap USDC for ETH using Maverick
    6. Swap ETH for BUSD using Velocore
    7. Swap BUSD for ETH using KyberSwap

    LATEST: 4-in-1 airdrop route ($ZNS, $BEE, $ZKP, $ZK)

    Time needed: 10 minutes

    With this latest airdrop route, you will be interacting with 3 different protocols to get 4-in-1 airdrop! These protocols are ZKsync Domain ($ZNS), Beecoin ($BEE), and Passport NFT ($ZKP) in addition to ZKsync.

    1. Mint ZKsync Domain ($ZNS)

      Mint a ZKsync Domain HERE. Minting a domain will cost 0.0028 ETH but this is for lifetime ownership!

    2. Share referral link

      Go to the Airdrop page and share your referral link. You will get more $ZNS rewards for successful invitations.

    3. Claim Beecoin ($BEE)

      Click on “Free Mint $BEE” or to go Bee Coin. Follow their Twitter accounts, select your ZKsync Domain and click “Free Mint” to mint 1 million $BEE coins. Then click, “Add Wallet” to add your $BEE coins to your wallet. Note you will need to pay gas fees and their total supply is 100 billion coins! So, act fast before they are all minted! You can also share your invite link to receive an extra 500,000 Beecoin for each person you invite.

    4. Passport NFT ($ZKP)

      Connect your wallet HERE and click “Free Mint” to get a NFT passport. Note you will need to pay gas fees for this. Then, invite your friends to get 200 $ZKP and boost Passport Rank per friend.

    ZKsync airdrop season 1: Am I eligible?

    Eligibility for season 1 of ZKsync’s token airdrop was based on a snapshot taken on ZKsync Era and ZKsync Lite on 24th March 2024 at 0:00 UTC. 2 categories of users were eligible for the ZKsync airdrop: users (89%) and contributors (11%). Users on ZKSync are those who have made transactions and reached a certain level of activity. Contributors, on the other hand, include individuals, developers, researchers, communities, and companies who have contributed to the ZKSync ecosystem and protocol through development, advocacy, or education, regardless of their network activity.

    The airdrop allocations for ZKsync were calculated using a points system. Here’s how the points were calcualted:

    • Activity-Based Points: Wallets earned points for actions like interacting with smart contracts, depositing liquidity into DeFi protocols, and trading ERC-20 tokens.
    • ZKsync Lite Activity: Points were also awarded for activities on ZKsync Lite, such as donating to a Gitcoin round or transacting over three different months.
    • Bridged Assets: Allocations were based on assets bridged to ZKsync Era, with multipliers for activity on ZKsync and Ethereum mainnet.
    • Minimum and Maximum Allocations: Wallets with fewer than 450 ZK tokens had their tokens recycled, while those with more than 100,000 tokens had excess tokens recycled. The minimum allocation was up to 917 $ZK tokens per wallet.

    ZKsync season 1 airdrop: How to claim?

    ZKsync will conduct a one-time token airdrop of 3.675 billion $ZK tokens (i.e. 17.5%) of the total token supply. Eligible users can claim their airdrop by connecting to their wallet to https://claim.zknation.io/ starting from 24th June 2024. The airdrop claim will be open until 3rd January 2025.

    ZKsync season 2 airdrop strategy guide

    ZKsync season 2 airdrop has already started! 2 main strategies to best position yourself for the token airdrop is to delegate your tokens and to maintain a high time weighted average balance (TWAB).

    In terms of strategies to find the best delegate to delgate your $ZK token, you may want to find delegates that are active in voting on governance proposals.

    How to identify and avoid ZKsync airdrop scams

    ZKsync has not announced its official token yet. However, this has not stopped scammers from enticing unsuspecting victims with airdrops in order to steal their cryptocurrencies. Here are some ways in which you can identify and avoid ZKsync airdrop scammers.

    Look at social media handles

    Many scammers will use social media (e.g. Twitter, Telegram) handles that are confusingly similar to the official ones. For example, spelling the project name incorrectly or using different fonts and hidden characters in the handle. Other fake accounts may have spelled the project name correctly but has other words behind it e.g. ZKsync (@ freetokens). Always check the official ZKsync website.

    Impersonating admins or mods

    Scammers have been known to impersonate admins or mods on ZKsync’s official channels. They may send DMs asking for users’ private information in order to “participate” in airdrops, or send you a link asking you to connect your wallet and drain your funds. zkSync admins or mods would not DM users first.

    Fake accounts tweeting ZKsync airdrop info

    There are fake accounts tweeting ZKsync token airdrops. However, there is no official announcement yet. Always check the official channels.

    ZKsync Airdrop Review

    When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

    Likelihood of Airdrop: ZKsync has completed season 1 of its token airdrop.

    Airdropped Token Allocation: In season 1 of the ZKsync airdrop, a total of 3.675 billion $ZK tokens will be airdropped. This is equivalent to 17.5% of the total $ZK token supply.

    Airdrop Difficulty: Tasks which allowed you to be eligible for season 1 of the airdrop includes interactions, donations and bridging assets. This would not be difficult for a general crypto trader.

    Token Utility: The $ZK token is used for transaction fees, governance and staking.

    Token Lockup: There is no lockup period for $ZK tokens which were distributed in the airdrop.

    Frequently Asked Questions (FAQs)

    How do I participate in the ZKsync Airdrop?

    Here’s how to participate in the ZKsync airdrop
    · Add ZKsync Era Alpha Mainnet on MetaMask.
    · Bridge Funds to ZKsync Lite and ZKsync Era Mainnet.
    · Interact with ZKsync Lite and ZKsync Era Mainnet Alpha.
    · Interact with the ZKsync ecosystem.
    · Mint NFTs for ZKsync airdrop.
    · Complete quests on ZKsync’s Crew3.
    · Join the ZKsync Guild
    · Bonus: Complete ZKsync Era tasks on RabbitHole.

    How do I participate in the ZKsync Airdrop?

    ZKsync has not announced details of any potential airdrop yet.

    Is there a minimum amount of tokens I can receive from the ZKsync airdrop?

    This will depend on the rules of the ZKsync airdrop campaign, which has not been announced.

    Which is the best ZKsync ecosystem dApp to interact with for the ZKsync airdrop?

    We find SyncSwap to be the best ZKsync ecosystem dApp to interact with to position yourself for the airdrop. This is because SyncSwap refunds you 50-6 0% of your Ethereum gas fees. We’ve managed to do 30 ZKsync transactions on SyncSwap in 10 minutes for only US$3! Check out our SyncSwap ($SYNC) token airdrop guide!

    When is the ZKsync airdrop?

    The ZKsync airdrop was on 24th March 2024 at 0:00 UTC when the eligibility and allocations snapshot was taken. Eligible users can claim the airdrop from 24th June 2024 to 3rd January 2025.

    Will zkSync do an airdrop?

    ZKsync season 1 airdrop is now available for claim until 3rd January 2025.

    How do I prepare for a ZKsync airdrop?

    Projects often reward early users. Follow our guide to prepare for a potential airdrop.

    Does ZKsync have a token?

    ZKsync has a native token known as $ZK. It is used for paying transaction fees on the network, staking and governance.

    How do I get season 2 of the ZKsync airdrop?

    2 ways to get the potential season 2 of the ZKsync airdrop is to delegate your tokens and to maintain a high time weighted average balance (TWAB).

  • LayerZero ($ZRO) Token Airdrop How to claim

    LayerZero ($ZRO) Token Airdrop How to claim

    Looking for free tokens with huge upside potential? LayerZero is one of the major upcoming crypto airdrops, funded by many reputable global enterprises such as PayPal. The LayerZero airdrop is now available to claim. This is our LayerZero airdrop ultimate guide.

    Check out our zkSync ($ZKS) Token Airdrop Guide for another highly anticipated airdrop.

    LayerZero ($ZRO) Airdrop Step-by-Step Guide

    Here’s a step-by-step guide on how to get a potential LayerZero ($ZRO) token airdrop:

    1. Interact with Stargate Finance
    2. Interact with Stargate Bridge on LayerZero
    3. Use Stargate on Bungee
    4. Use the USDC LayerZero Bridge
    5. Use the Aptos Bridge
    6. Use LiquidSwap Bridge
    7. Use LEVEL Finance Bridge
    8. Use SushiSwap Cross-Chain Swap
    9. Use BitcoinBridge
    10. Interact with other dApps on LayerZero
    11. Get roles on the Stargate Guild

    See below for more details!

    What is LayerZero?

    LayerZero is a trustless omnichain interoperability protocol designed to connect multiple chains. Let’s break it down what this means in simple terms:

    Underlying Issues of Current Interoperability Techniques

    Interoperability is a big problem for blockchains. Blockchains can’t talk to each other in a way that makes sense, so they’re like separate islands. This makes it hard for people to move things like money and data between them. There are two ways to fix this, but they both have problems.

    Middle Chain

    In the blockchain world, there are some protocols that help blockchains talk to each other such as Polkadot or Cosmos. They’re like a middleman that helps different blockchains exchange messages. This is a good way to make sure that blockchains can work together and it’s not too expensive. But it’s not very secure because if something goes wrong with the middleman, then everything can be stolen. It’s like having all your eggs in one basket.

    On-Chain Light Node (Decentralized Bridges)

    Instead of having one person in charge, decentralized cross-chain bridges use on-chain light nodes to communicate between blockchains. A light node is like a small part of the blockchain ledger’s transaction history. It’s connected to a full node to make sure everything is correct.

    To send messages between chains, light nodes on one chain check the metadata of a block from another chain. Then they send proof of the transaction to the other chain. This is a safe way to send messages between chains, but it’s also very expensive. You would need to build a new bridge for every pair of chains, and each one would need its own interface and code.

    LayerZero’s Solution to Interoperability

    Instead of a middle chain or a layer-2 solution, LayerZero provides a massive infrastructure that would seamlessly enable direct, trustless transactions across all chains. Think of it like this: if blockchains are nations and bridges are immigration, then LayerZero would be a global super-passport and air-traffic control that allows communication between all blockchains at once. It focuses more on the communication problem of the interoperability layer (layer 0) rather than providing a third party solution like a bridge or middle chain.

    source: LayerZero Whitepaper

    LayerZero achieves this by using on-chain light nodes in a much more economical way. The team behind LayerZero, LayerZero Labs, coined it Ultra Light Node (ULN). The ULNs are connected to oracles and relayers, both independent off-chain entities in charge of transferring messages from one chain to another.

    Instead of keeping all block headers sequentially, block headers are streamed on demand by decentralized oracles, i.e. Chainlink, allowing the ULN endpoints to be small and cost-effective. The relayers are responsible for moving transaction proofs. Initially, LayerZero Labs will run and maintain the relayers, which will soon be fully open-sourced so that anyone can operate their own relayer.

    source: LayerZero Whitepaper

    Moreover, the use of an oracle-relayer pair provides additional layers of security since responsibilities are broken up. But if both parties are compromised, LayerZero would be vulnerable to attacks–no easy task, given the progressive decentralization of relayers growing in the network.

    Who is the Team behind LayerZero?

    LayerZero Labs, a Vancouver-based startup, developed LayerZero protocols to enable omnichain decentralized applications across multiple blockchains. LayerZero was co-founded in 2021 by Bryan Pellegrino, Ryan Zarick, and Caleb Banister. The three have previously worked together in computer network research labs at the University of New Hampshire.

    LayerZero Labs have recently raised US$120 million in Series B funding at a valuation of US$3 billion. The funding is expected to go towards growth initiatives, in particular expanding the Company’s presence in the Asia-Pacific. In March 2022, LayerZero Labs raised $135 million in a Series B funding round from the likes of FTX Ventures, Coinbase Ventures, Uniswap Labs, Sequoia Capital, a16z, PayPal Ventures and more. Interestingly, LayerZero is PayPal’s first ever web3 investment. Seeing as that PayPal is one of the world’s leading payment networks this goes to show LayerZero has huge potential that spans beyond the crypto space.

    Does LayerZero have a Token?

    LayerZero does not have a token YET. But based on their information code we know it will be called $ZRO.

    source: LayerZero Gitbook

    How to Receive Potential LayerZero Token Airdrop?

    Interact with Stargate Finance

    Stargate Finance (Check out our airdrop guide here) is the first live LayerZero protocol. LayerZero Labs believes Stargate will be integral to any dApp that wants to move cryptocurrency across blockchains. Thus, Stargate users, especially DAO voters, could have a very high chance to receive $ZRO airdrops. Here’s how to stake and become a DAO Voter on Stargate:

    1. Buy Stargate’s $STG token (for as little as $0.74) on centralized crypto exchanges like Bybit or on decentralized exchanges like Uniswap. We suggest staking at least 25 $STG because it is the minimum required to get some guild roles.
    2. Stake $STG to get $veSTG. This gives you voting power on Stargate’s staking tab: https://stargate.finance/stake. The staking period can range from 1 to 36 months. You can also browse the pools and farms on the staking page to earn more $STG yields.
    3. Add liquidity to Pools. Go to https://stargate.finance/pool, choose your preferred Pool and add liquidity. You can remove liquidity at any time on the “Remove” tab. You earn LP tokens as a reward, which then be farmed to get $STG. Check our guide here.
    4. Regularly vote on governance proposals. Tip: Select “Turn On My Notifications” so you don’t miss any voting opportunities.

    Interact with Stargate Bridge

    Interact with dApps such as Stargate Finance’s Stargate Bridge by bridging your funds across networks repeatedly to generate volume. To do this, select the “from” token and network, the “to” token and network, and confirm your transaction.

    Bonus: How to save costs when using Stargate Bridge

    Here’s how to save costs when using Stargate Bridge:

    1. Do not transfer assets to/from the Ethereum network as it usually costs the most.
    2. Instead, to save costs when using Stargate Bridge transfer to/from these networks: BNB/AVAX, BNB/MATIC, BNB/FTM, BNB/METIS, AVAX/MATIC, AVAX/FTM, AVAX/METIS, MATIC/FTM, ARB/BNB, ARB/AVAX, ARB/MATIC and FTM/METIS.
    3. Check the estimated gas cost before bridging by clicking “Transfer Gas Estimator” before transferring assets.

    Use Stargate on Bungee

    Bridge tokens on Bungee using the Stargate route. This will also make you eligible for the Bungee, Socket and Stargate potential airdrops. For more details, see our Bungee token airdrop guide.

    Use the USDC LayerZero Bridge

    You can use the USDC LayerZero bridge (https://usdcdemo.layerzero.network/bridge) to transfer USDC between EVM chains.

    USDC Goerli Contract Address: 0x07865c6E87B9F70255377e024ace6630C1Eaa37F
    USDC Avax Contract Address: 0x5425890298aed601595a70AB815c96711a31Bc65

    Use the Aptos Bridge

    The Aptos Bridge is powered by LayerZero. You can move USDC, USDT, and ETH from Ethereum, Arbitrum, Optimism, Avalanche, Polygon, and BSC to the Aptos network. Connect your EVM (e.g. MetaMask) and Aptos wallets (e.g. Martian wallet). Then, choose the number of cryptocurrencies and networks you wish to use. However, keep in mind there is a 3-day transfer window if you want to withdraw your funds out of the Aptos ecosystem. You will also need to pay gas fees in Aptos $APT tokens.

    To use the Aptos Bridge with the least amount of gas fees, transfer USDC from BNB Chain to Aptos network. To do this, you will need USDC and BNB (gas fees) in your EVM wallet (e.g. MetaMask). You will also need $APT to your Martain wallet to pay for gas fees.

    Use the LiquidSwap Bridge

    Go to https://bridge.liquidswap.com/ and bridge USDT, and ETH from Ethereum or Arbitrum to the Aptos network. Connect your EVM (e.g. MetaMask) and Aptos wallets (e.g. Martian wallet), and choose the cryptocurrency and network (Ethereum/Arbitrum to Aptos and vice versa) you wish to bridge tokens. Note you will need to pay gas fees in Aptos $APT tokens.

    Use LiquidSwap Bridge

    Use LEVEL Finance Bridge

    LEVEL Finance is a decentralized perpetual exchange on BNB Chain that provides risk management solutions for liquidity providers and is built by experienced entrepreneurs and contributors. To use LEVEL, you will need to buy their native $LVL token on DEXs such as Uniswap or Pancakeswap. Then, go to LEVEL Bridge and bridge $LVL tokens between BNB Chain and Arbitrum. Note that depending on which direction you are bridging, you will need BNB or ETH for gas fees.

    Use SushiSwap Cross-Chain Swap

    SushiSwap released its SushiXSwap, which is built upon LayerZero’s Stargate protocol. You can swap tokens directly to another network without using a bridge. As such, users are likely to be qualified for a $ZRO token airdrop!

    Use BitcoinBridge

    BitcoinBridge allows users to transfer BTC.b. BTC.b is a new type of wrapped Bitcoin that can be used on the Avalanche Network. It is moved to Avalanche using the Avalanche Bridge. This makes it easy to use Bitcoin on many different networks with the help of LayerZero.

    Meanwhile, BitcoinBridge is a good way for people on a budget to interact with the LayerZero ecosystem. Doing 20 transactions on BitcoinBridge will only cost around US$15! Here’s how to use BitcoinBridge:

    1. Buy BTC.b on Trader Joe here.
    2. Connect your EVM and Aptos wallets here.
    3. Bridge assets between different networks.

    Use Rage Trade

    Rage Trade is a double-legged trading protocol that offers a perpetual ETH swap and a USDC yield-farming product built on Arbitrum and LayerZero. Therefore, interacting with it may qualify you for 3 airdrops at the same time! To use Rage Trade, simply trade and deposit and stake on their platform. Also, contribute to their community.

    For more details check out our Rage Trade Token Airdrop Guide

    Use Altitude

    Altitude ($ALTD) is a dApp built on LayerZero, designed to allow DeFi users to transfer assets with enhanced security features, inexpensive bridging fees, and fast transactions. Altitude have confirmed they will launch its $ALTD token as well as an airdrop when their mainnet launches!

    See: Altitude ($ALTD) Token Airdrop Guide

    Use Dexalot

    Dexalot is a decentralized exchange that uses LayerZero as its default bridge provider. To use Dexalot, you will need to have ETH on the Arbitrum network and AVAX on the Avalanche network. Connect your wallet to Dexalot and go to the “Portfolio” tab, making sure you are on the Avalanche network. At the bottom of the page you will see a list of your tokens, select AVAX and click the 3 points on the right hand side. On the popup window, deposit some AVAX onto Dexalot. Note however depending on the amount of AVAX deposited, it may cost more gas fees to withdraw than the amount itself. So you may need to consider it as a loss for the sake of interacting with Dexalot.

    Interact with Abracadabra

    Abracadabra is intergrated with Layer Zero and allows users to borrow, leverage or earn yield. To interact with Abracadabra, you will need to have their native $MIM token. $MIM can be purchased on several decentralized exchanges such as Uniswap, Sushiswap or Trader Joe. Make sure you are on the Avalanche network, or you will have to first bridge your $MIM tokens there. Back on Abacadabra, send one $MIM token from Avalanche to Arbitrum network. If you don’t want to keep your $MIM tokens, you can proceed to sell it for ETH on Arbitrum.

    Use SteakHut Finance

    SteakHut Finance is a yield optimization protocol that has integrated with LayerZero to launch $STEAK as an omnichain token. On SteakHut, $STEAK will be abe to be bridged across Avalanche, Arbitrum and eventually other blockchains on a 1:1 ratio. To use SteakHut, you will need to buy $STEAK tokens on the Avalanche Network. Note that currently only Trader Joe offers $STEAK tokens. Afterwards, connect your wallet to SteakHut and go to the “Bridge” tab. Send your $STEAK tokens to Arbitrum. You can also send your $STEAK tokens in reverse i.e. from Arbitrum to Avalanche networks. This would increase the number of interactions you have with SteakHut, which may put you in a better position for any potential airdrop. Note that you will need to pay gas fees in AVAX.

    Interact with Mummy Finance

    Mummy Finance is integrated with LayerZero and lets users trade BTC, ETH, FTM, OP, ARB and other cryptocurrencies with up to 100x leverage. To interact with Mummy Finance, you will first need to buy some of their native $MMY tokens on the Arbitrum network here. Then, go to Mummy bridge and bridge your tokens from the Arbitrum to Fantom network. Note it may cost more gas fees transfer back or sell your $MMY tokens. Therefore, you may need to consider it as a loss for the sake of interacting with Mummy Finance.

    Interact with other dApps on LayerZero

    You can also interact with other dApps on LayerZero including Holograph, Mugen Finance, Radiant Capital, Omni X or Angle Protocol. You can make small transactions, deposit funds, provide liquidity, swap assets etc. By actively and consistently using the ecosystem, it is highly likely LayerZero will reward users who genuinely interact with the ecosystem.

    source: TokenHunter

    Get roles on the Stargate Guild

    Here’s how to get roles on the Stargate Guild:

    1. Connect your Ethereum wallet to https://guild.xyz/stargate.
    2. To get the veStaker role, hold at least 25 $veSTG. To do this, buy at least 25 $STG on exchanges such as Bybit, Binance, or Uniswap. Then, stake your $STG here to get $veSTG. For detailed instructions see above.
    3. To get the 100 STG role, you will need to hold at least 100 $STG. Note that staked $STG does not count.
    4. To get the 1k LP Farmer role, supply at least $1,000 of USDC, USDT or BUSD on Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism or Fantom (not Metis) to receive LP tokens.

    How to claim the LayerZero ($ZRO) token airdrop?

    Here’s how to claim the LayerZero ($ZRO) token airdrop:

    • Connect your wallet or paste your wallet address to https://layerzero.foundation/claim to check your eligibility.
    • To claim the LayerZero ($ZRO) token airdrop, those who are eligible must donate US$0.10 in USDC, USDT or native ETH per $ZRO. This is known as LayerZero’s Proof-of-Donation mechanism. Donations would go to the Protocol Guild.
    • Users can claim from the following chains: Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche.
    • Once claimed, $ZRO holders can transfer their tokens via the above chains using Stargate.

    LayerZero Airdrop Review

    When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

    Likelihood of Airdrop: The LayerZero token airdrop is available to claim from 20th June to 20th September 2024.

    Airdropped Token Allocation: 85 million $ZRO are available to claim.

    Airdrop Difficulty: To be eligible for the LayerZero token airdrop, users could submit unique proposals for LayerZero or provided multiple ongoing transactions on the protocol.

    Token Utility: The LayerZero ($ZRO) token acts as a governance token, and to facilitate transactions across different blockchain networks.

    Token Lockup: The token will be unlocked on launch. However, those who are eligible for the airdrop must donate US$0.10 per $ZRO to claim the token

  • zkLend ($ZEND) Token Airdrop Guide: How to earn double airdrops!

    zkLend ($ZEND) Token Airdrop Guide: How to earn double airdrops!

    zkLend began its creation in late 2021 with aims to create a layer 2 money-market protocol built on StarkNet. With StarkNet being one of the hottest anticipated airdrops, there is massive speculation that zkLend will also have an airdrop. Particularly since zkLend’s V1 mainnet is fast approaching. This guide will teach you how to get a potential zkLend ($ZEND) token airdrop, which may also increase your potential StarkNet airdrop too!

    Learn more: StarkNet ($STRK) Token Airdrop Guide: How to Qualify?

    zkLend ($ZEND) Airdrop Step-by-step Guide

    Here’s how to receive a potential zkLend ($ZEND) token airdrop:

    1. Go to the zkLend website.
    2. Connect a StarkNet wallet such as Argent or Braavos.
    3. Obtain some testnet ETH tokens and bridge to StarkNet.
    4. Interact with the Artemis testnet by supplying or borrowing tokens.
    5. Complete tasks on zkLend’s Questboard.

    See below for more details.

    What is zkLend?

    zkLend is a money-market protocol built on StarkNet. Its aim is to combine the best of zk-rollups and Ethereum. zkLend will enable users to earn interest on deposits and borrow assets. To achieve this, zkLend will be offering a dual solution in the form of 2 products: Artemis, and Apollo.

    Currently, zkLend has launched the Artemis MVP testnet on StarkNet Goreli testnet. Artemis is designed for regular DeFi users, and enables them to deposit, borrow and lend in a decentralized and permissionless manner on StarkNet.

    zkLend’s other major product, Apollo, is designed for institutional clients. The aim of Apollo is to become a gateway for institutional users into the world of DeFi. It will allow permissioned users to deposit, borrow and lend on StarkNet, but without compromising on compliance and security.

    What is the zkLend ($ZEND) token?

    The zkLend ($ZEND) token has not been launched yet. However, when it does, there will be a total token supply of 100 million tokens. 35% of the total supply of $ZEND tokens will be allocated towards staking and distribution rewards.

    The ZEND token is intended for governance and utility functions on zkLend. In particular, ZEND tokens will be rewarded to users when they interact with the zkLend network. For example, ZEND tokens will be distributed for users when borrowing/lending or providing liquidity to the network. Also, when users participate in community events or marketing/airdrop campaigns. ZEND token holders will also be entitled to voting rights which allow them to vote on future features of zkLend.

    What is the Current Status of the zkLend ($ZEND) Token Airdrop?

    zkLend has not launched its $ZEND token yet. However, the chances of zkLend doing an airdrop are promising. This is because they have already stated in their Whitepaper that a proportion of zkLend’s revenue would be allocated for airdrop campaigns.

    How do I participate in the $ZEND token airdrop?

    As there is no official airdrop announcement yet, many users can only speculate how to become eligible for $ZEND token airdrops. It is speculated that users could participate in the Artemis public testnet. This is in the hopes that completing zkLend testnet actions will inevitably entitle them to airdrops when the $ZEND token is launched. However, users should note that an airdrop is not guaranteed.

    Time needed: 30 minutes

    How to get a potential zkLend $ZEND token airdrop

    1. Go to the zkLend website

    2. Connect a StarkNet wallet such as Argent or Braavos.

    3. Obtain some testnet ETH tokens and bridge to StarkNet.

      Get testnet ETH here and bridge to StarkNet here.

    4. Interact with the Artemis testnet by supplying or borrowing tokens.

      Interact with the Artemis testnet here.

    5. Complete tasks on zkLend’s Questboard

      Connect your wallet to zkLend’s Questboard and complete the tasks. Tasks include joining their Discord, liking and retweeting their Tweets, and submitting your Starknet mainnet wallet address.

    Artemis is still in the testnet stage, and it is hoped that the mainnet will be launched in 2023, as well as the launch of the $ZEND token.

    Meanwhile, check out our picks for the top Upcoming Crypto Airdrops!

    zkLend Airdrop Review

    When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

    Likelihood of Airdrop: The zkLend ($ZEND) token has not been launched yet. But the team has said that $ZEND tokens would be allocated towards staking and distribution rewards.

    Airdropped Token Allocation: zkLend ($ZEND) will be a total token supply of 100 million tokens. 35% of the total supply of $ZEND tokens will be allocated towards staking and distribution rewards.

    Airdrop Difficulty: It is possible that participating in the Artemis public testnet could make you eligible for a potential $ZEND airdrop. Whilst this requires time and technical knowledge, you will only be using testnet ETH so it does not cost any money on your part. Otherwise, there are simple social tasks on their Questboard which are easy to do. There may also be a possibility that doing zkLend tasks may make you eligible for the potential StarkNet airdrop too!

    Token Utility: The ZEND token is intended for governance and utility functions on zkLend. ZEND tokens will also be rewarded to users that interact with the zkLend network.

    Token Lockup: There is no announcement on the $ZEND token lockup yet. However, it is hoped that the mainnet will be launched in 2023, together with the $ZEND token.

  • Quai Network ($QUAI) Token Airdrop LIVE: Earn $2000 for Free

    Quai Network ($QUAI) Token Airdrop LIVE: Earn $2000 for Free

    Hunting for crypto airdrops is a great way to make free money. Some people have made as high as $10,000 from the Aptos token airdrop. If you missed it, Quai Network is another upcoming project with airdrop qualifications happening right now. Let’s take a look at what Quai Network is and what you can do to receive their token airdrop before it’s too late!

    Quai Network ($QUAI) Airdrop Step-by-step Guide

    Here’s how to receive a potential Quai Network ($QUAI) token airdrop:

    1. Engage with Quai Network’s Twitter
    2. Engage with Quai Network’s Reddit

    See below for more details

    What is Quai Network?

    Quai Network is a decentralized network of multiple proof-of-work (PoW) blockchains running in unison. These blockchains have native interoperability, allowing for cross-chain transactions and messages. It is also fully EVM compatible, allowing any Solidity contract to be ported and deployed.

    Quai Network provides a novel approach to blockchain scaling, different from parallel processing chains such as Aptos and Sui. It aims to maximize the energy efficiency of PoW by introducing the concept of modularity.

    Proof-of-Work 2.0 (PoW2)

    Quai Network sought to improve upon the PoW consensus mechanism by addressing its environmental concerns. For the longest time, Bitcoin’s PoW algorithm has been infallible, but it also consumes massive amounts of energy. And it will continue to rise as mining difficulty increases after every Bitcoin Halving event. This is why Ethereum switched to proof-of-stake (PoS).

    But Quai Network believes that PoS is inherently centralized due to the amount of money it requires to be a validator, creating a gap between the validator “class” and everyday users. Therefore, Quai Network has introduced an upgraded version of PoW called Proof-of-Work 2.0 (PoW2) where hash power can be reused to secure multiple chains. This is achieved by utilizing a novel combination of merged mining and sharding, reducing computational cost while allowing the network to scale more efficiently.

    Merged Mining

    Merged mining is the process of securing multiple blockchains with one miner, allowing miners to earn rewards in multi cryptos without having to switch between networks or use additional hardware. It was first conceived by Satoshi Nakamoto in the Bitcoin white paper, in which a completely seperate blockchain could share CPU power with Bitcoin, inheriting the same security and decentralization of Bitcoin without requiring dedicated miners.

    Quai Network uses this concept, but instead of having Bitcoin as a parent chain, it has its own parent chain (the Prime Chain) which secures the many other chains beneath it by sharing hashrate. This improves throughput over monolithic chains such as Solana without the need for layer-2 solutions. Moreover, Quai Network is horizontally scalable, which means additional chains can be added to meet network demands. This is possible because of their multi-chain architecture.

    Multi-Chain Architecture

    Quai Network’s architecture makes use of sharding by dividing a single blockchain into multiple smaller and faster blockchains to improve network performance, similar to Ethereum and Polkadot. Its network is divided into a hierarchical structure of three different types of chains. At mainnet launch, Quai Network will begin with the single Prime Chain, three Region Chains, and nine Zone Chains.

    Source: Quai Network
    • Prime Chain

    The Prime Chain is at the core of the entire network, utilizing a hashing algorithm that is shared across all subordinate chains (Region and Zone). It aggregates and settles state transitions across the network, which means miners are required to mine the Prime Chain to keep the blockchains functional.

    However, it has the highest mining difficulty, which means it has the slowest throughput (one block every 15 minutes). Therefore, it is not ideal for simple transactions and DApp activities. It is mostly for use in situations where the whole network is being addressed and securing the network.

    • Region Chains

    There are three Region Chains at mainnet launch: Cyprus, Paxos, and Hydra. These chains have lower mining difficulty, thus a higher throughput than the Prime Chain (one block every 5 minutes). These chains handle lesser network interactions that are not necessary to address the entire network. They can also interact natively on the network, but each require unique mining power. Therefore, a miner can only mine a single Region Chain at a time, in addition to the Prime Chain.

    • Zone Chains

    At mainnet launch, each Region Chain will have three Zone Chains under it. These Zone Chains have the highest throughput (one block per 10 seconds) and TPS capacity, making them ideal for regular transactions and contract interactions. As such, most activity on Quai Network will occur on Zone Chains. They are also able to interact with other Zone chains, even those under different Region Chains. But similar to Region Chains, miners can only select one Zone Chain to mine.

    • Coincident Blocks

    Coincident Blocks tie the whole hierarchal structure together, linking all chains which enables cross-chain state transfers and periodic pegging of all chains to the Prime Chain’s total work. These blocks allow the entire network to inherit the same security of the Prime Chain, governed by three rules:

    1. All Prime blocks must contain a Region and Zone block.
    2. All Region blocks must contain a Zone block.
    3. Zone blocks can be mined asynchronously without being included in a Prime or Region coincident block.
    Source: Quai Network

    Basically, a Coincident block occurs when (1) a Prime, Region, and Zone block are confirmed at the same time OR (2) when just a Region and Zone block. Each time a Coincident block is mined, all blocks since the last coincident block are then confirmed by the Region Chain, continuing upwards until the Prime Chain — think of it as a roll call. Therefore, chains lower in the hierarchy can inherit the security of the Prime Chain while still conducting independent activities.

    Who is the Team behind Quai Network?

    Quai Network is developed by Dominant Strategies, a technology development company based in Austin. The company was co-founded in 2019 by Alan Orwick, Jonathan Downing, Karl Kreder, Yanni Georghiades, and Sriram Vishwanath, all of whom worked together in the Electrical and Computer Engineering department at the University of Texas. They co-wrote and published the white paper for Quai Network in December 2021.

    Dominant Strategies has raised $10 million over two funding rounds — $8 million from Polychain Capital in March 2022 and $2 million from Alumni Ventures in May 2022.

    Does Quai Network have a Token?

    Yes. $QUAI will be used to ensure network security and as an exchange of value in the ecosystem. Their token supply is hard-capped but its total number is not yet determined. According to their tokenomics, 25% is distributed as “adoption incentives”, 3% for “community” and 0.5% for “testnet incentives.” This means token airdrop opportunities for early users of Quai Network!

    Source: Quai Network

    How to Receive Quai Network ($QUAI) Token Airdrop?

    Quai Network has a Social Media Rewards Program that will airdrop $QUAI tokens for engaging with their Twitter, YouTube, Reddit, TikTok, and Instagram. Compared to other projects, this is one of the easiest ways to earn free tokens.

    To begin, join their Discord server and follow their Twitter account. Afterwards, you can check your rewards on the Quai Dashboard. If you have a Citizen role in their Discord server, you will have a 1.5x multiplier for your $QUAI rewards. You can obtain it by completing their survey here. It is easy to do if you have some degree of understanding of the project.

    From here on out, Quai Network will reward you $QUAI tokens for your engagement with their social media platforms. As of now, only Twitter and Reddit rewards are available. YouTube, TikTok, and Instagram rewards will be available soon.

    • Twitter
    1. Follow Quai Network.
    2. Follow additional team accounts.
    3. Liking and retweeting Quai Network’s Tweets that are less than seven days old (limited to twice a day).
    4. Make a Tweet mentioning Quai Network. Original and insightful Tweets that are liked or replied by Quai Network will grant you additional rewards.
    • Reddit
    1. Make a unique post in their channel (limited to twice a day).
    2. Make a post about Quai Network in another approved crypto-related Subreddit (limited to twice a day).

    It is worth noting that your account must have more than 50 post/comment karma, and the post must be approved by their team. Therefore, it will some time for your rewards to show if you make a post on Reddit.

    Quai Airdrop Review

    When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

    Likelihood of Airdrop: Quai Network’s token airdrop is now live!

    Airdropped Token Allocation: According to Quai’s tokenomics, 25% will be distributed as “adoption incentives”, 3% for “community” and 0.5% for “testnet incentives.” This could mean token airdrop opportunities for early users of Quai Network!

    Airdrop Difficulty: Quai Network has a Social Media Rewards Program that will airdrop $QUAI tokens for engaging with their social media accounts on Twitter, YouTube, Reddit, TikTok, and Instagram. This is one of the easiest ways to earn free tokens compared to other projects!

    Token Utility:  The $QUAI token will be used to ensure network security and as an exchange of value in the ecosystem.

    Token Lockup: Participants of Quai Network’s Social Media Rewards Program will receive their $QUAI tokens upon Quai Network’s Mainnet Launch

  • Sovereign Labs: Unlocking the Potential of ZK-Rollups in 2023 – Why This Project Should Be On Your Watchlist

    Sovereign Labs: Unlocking the Potential of ZK-Rollups in 2023 – Why This Project Should Be On Your Watchlist

    ZK-rollups could be one of the strongest performing sectors in 2023, as demand for Ethereum scaling solutions is increasing. As such, Sovereign Labs is one of the most promising upcoming projects in the ZK-rollup space. The team is well-funded and the development is on track to be completed in Q2 2023. As such, Sovereign should definitely be on your watchlist for 2023.

    Check out our zkSync article for another highly anticipated ZK-rollup project this year.

    What is Sovereign?

    Sovereign Labs, the team behind Sovereign, is creating an open, interconnected rollup ecosystem to make it easier for developers to deploy interoperable and scalable rollups on any blockchain. It’s been compared to Cosmos ($ATOM), but instead of layer-1 chains, Sovereign uses their software development kit (SDK) and inter-blockchain communication protocol (IBC) for ZK-rollups.

    Current Problems of Blockchain Scaling Solutions

    The current blockchain scaling solutions including application-specific layer-1s, optimistic rollups and ZK-rollups, all have their own drawbacks:

    1. Application-specific layer-1s are the easiest to design and implement, but require large amounts of capital from validators to secure the blockchain. This approach is only viable for a few well-funded blockchain apps.
    2. Optimistic rollups produce fraud proofs to prevent misbehavior. However, during an attack, fraud proofs can be censored, leading to long finality delays. This makes bridging out of optimistic rollups slow and costly.
    3. ZK-rollups share the advantages of optimistic rollups, but without the long finality delay. Large batches of transactions can be finalized with validity proof in a matter of seconds. However, ZK-rollups are incredibly difficult to build because it involves a very high level of cryptography and protocol engineering.

    Out of the three blockchain scaling solutions, ZK-rollups prove to be the most promising scaling paradigm despite the massive undertaking it requires to build them. As such, Sovereign aims to make it easier for developers to create secure and interoperable ZK-rollups, just like the Cosmos SDK did for layer-1 chains. As a result, developers do not need to be experts in cryptography to write their apps, allowing them to focus on the business logic of their chain.

    Who is the Team behind Sovereign?

    Sovereign Labs is co-founded by Cem Özer (CEO) and Preston Evans (CTO). Özer had worked as a smart contract and protocol engineer in ConsenSys, the company behind MetaMask. On the other hand, Evans had worked as a software engineer in Amazon, and has years of experience in computer science and machine learning.

    Sovereign aims to make scaling simple, supporting billions of blockchain users without sacrificing security. In late January 2023, Sovereign Labs raised $7.4 million in seed funding led by Huan Ventures with participation from Maven 11, 1KX, Robot Ventures and Plaintext Capital. According to CoinDesk, a spokesperson from Sovereign stated the fundraise puts the company’s valuation in the “eight-figure” range. The fund will be used to build the SDK and hire protocol and researchers with expertise in blockchains and cryptography.

    Properties and Key Features of ZK-Rollup SDK

    The Sovereign SDK will provide a set of default modules, a peer-to-peer network, a database, and an RPC node, and will abstract away the details of zero-knowledge. This way, developers can write their apps in Rust or C++, and the SDK will automatically compile it to an efficient zero-knowledge virtual machine.

    It will also use a novel bridging technique based on proof aggregation to allow rollups on a shared L1 to bridge back and forth at minimal cost without a trusted third party. Off-chain relayers can combine the proofs of all the peer rollups into one proof, which can then be verified on the chain. As the state transitions are proven to be valid, there is no need to pay fees to a liquidity provider or wait a week for transactions to be completed. This means that bridging can be done immediately with no drawbacks.

    Source: Sovereign

    The biggest feature here is that Sovereign SDK Rollups are able to be used on any blockchain, as the responsibility of verifying proofs is given to the user, not the original blockchain. This is what sets them apart from smart-contract rollups. As the data availability layer does not need to be able to check proofs, SDK rollups can be used on any blockchain without needing to be rewritten. This makes them incredibly versatile, creating an ecosystem of interoperable and scalable rollups that can run on any blockchain.

    When is Sovereign Launching?

    Sovereign is currently in the process of developing the SDK, which includes designing the default storage module, cryptoeconomics, and core APIs. They are also working on a research prototype which is currently integrating with modular blockchain Celestia for data availability and ZK virtual machine Risc0 for the proving system. This phase is expected to be complete around Q2 2023.

    Initial implementation of the SDK will begin afterwards, which they will implement a peer-to-peer network, RPC node, core APIs, default storage and sequencing modules. Once this feature is complete, the SDK will be repeatedly stress tested and audited for about six months until it is ready to be deployed across all mainnet chains.

  • The Graph ($GRT) – The Next Level of Decentralized Apps

    The Graph ($GRT) – The Next Level of Decentralized Apps

    What is The Graph?

    The Graph ($GRT) is a decentralized and open-sourced indexing protocol for blockchain data. Developers can build and publish different APIs, which are referred to as subgraphs, and perform queries through the GraphQL.

    The platform can easily be used to look for any Ethereum data conveniently through simple queries. This addresses the common problem faced by a lot of other blockchain indexing platforms.

    Blockchain applications face difficulties in keeping properties like finality, chain reorganization, and security in their process of fulfilling query tasks. These are also potential complications that applications usually address, but unfortunately make the process of querying time-consuming. The Graph has a workaround for this, and it is built exactly for that purpose.

    Through “subgraphs,” The Graph indexes blockchain data, which users can access via the GraphQL API. According to the team, they will make it fully decentralized in the future, where more nodes will be involved and made responsible for maintaining the index.

    The interest for the platform is steadily growing. In fact, they hit over a billion queries last June 2020. This was right at the time when decentralized finance was also gaining much institutional attention.

    The Graph’s Daily Query Volume (Source: ‘1 Billion Monthly Queries’ medium articles)

    Background

    Yaniv Tal, co-founder and CEO of The Graph, together with his team, has created an indexing protocol meant to ease the process of accessing blockchain data. Tal and his co-founders had personally witnessed themselves how difficult it was to actually create new applications on the Ethereum blockchain.

    Thanks to their experience on applications, they have found out that there is actually no decentralized indexing and querying softwares yet for blockchain. The problem back then was that developers had to come up with their own method to gather data and transform them from different sources.

    The mission of the platform, which Tal and his team developed, is to help create applications that require no servers and make Web3 accessible to everyone.

    How Does The Graph Index Data?

    To index Ethereum-based data, The Graph uses the “subgraph manifest.” This refers to the description of a subgraph containing data about smart contracts, blockchain events, and the procedure in mapping event data with one another, before they are all kept in the platform’s database.

    The flow of the data from transactions, subgraph manifests, and the database follows a particular structure. All of it begins with decentralized applications that are adding data to the Ethereum blockchain through the help of smart contracts.

    All of that data will contain a record of all events and transactions up until the point that they have achieved finality. Then comes the Graph Node, which scans the whole blockchain database, gathers new data, and filters out those that are relevant to the queries that users make. To make the indexing much easier, it identifies every information that answers the questions from subgraphs.

    GraphQL is the link between blockchain data and the application that a user wants to provide it with. But then again, it is through the Graph Node that users can deliver searches to the platform. After the whole process, users can finally look at the results of their query from their applications.

    Basically, this is how the cycle of data query and indexing works in the platform. Users can refer to the Graph Explorer to scan through the subgraphs that are already in the platform. Each of these subgraphs have a playground where users can perform queries through GraphQL.

    How the Graph Works? (source: https://thegraph.com/docs/introduction#how-the-graph-works)

    As of latest, The Graph can support the indexing of data coming from Ethereum, IPFS, and PoA networks. There are more networks that the platform will support in the future. But right now, they already have more than 2,300 subgraphs deployed, which developers for applications utilize. Some of these applications are AAVE, Aragon, Balancer, DAOstack, Uniswap, Synthetix, and many others.

    There is a lot of institutional support for The Graph network. Michael Anderson of Framework Ventures, said in a press release that they “couldn’t be happier to back Yaniv and the team, and we look forward to helping grow the decentralized network when it launches.”

    Hayden Adams of Uniswap also shared how useful the platform was for their analytics needs: “As a company we don’t manage or run our own databases. … Right now it’s pretty difficult to get historic data from the Ethereum blockchain in an efficient way.”

    Their plan, apart from expanding to other blockchains soon, is to make it community-owned and governed in the future. This is also in response to the shift of many blockchain applications to a decentralized model of governance.

    Key Roles

    The platform’s whole ecosystem is composed of the following:

    The Graph’s Protocol Roles (source: The Graph Network In Depth)
    • Consumers – These are the users who pay indexers for their searches. It could also be web services or any other software linked with The Graph.
    • Indexers – These are the nodes that maintain the indexing function of the platform.
    • Curators – Using GRTs, curators identify to the subgraphs the information that is valuable for the platform’s index.
    • Delegators – These are other stakers who delegate their GRT to existing indexers and earn a portion of the rewards run by nodes.
    • Fishermen – They check whether the network’s response to queries is accurate.
    • Arbitrators – They decide whether an Indexer is malicious or not.

    The Graph Council

    The Graph plans to decentralize its governance in the future. This will most likely be similar with MakerDAO and Compound. At the point of the protocol’s maturity, the team plans to launch a Decentralized Autonomous Organizations (DAO) that would allow core interest groups to participate in important protocol decisions.

    Similar to other DAOs, the Graph Council, which will be the governing body for the technical parameters of the protocol, is also in charge of how The Graph Foundation allocates its native, utility tokens.

    Among their basic functions include decisions on allocating grants and ecosystem funding, protocol upgrades, protocol parameters, and other emergency decisions.

    GRT Token ($GRT)

    The Graph Token, or $GRT, is its native ERC-20 based token, which can serve as a medium of exchange and the reward distributed to community participants who function as Indexers, Curators, and Delegators.

    GRT token distribution
    GRT token distribution (Image source: The Graph)

    GRT also has a vesting and distribution schedule ranging between 6 months to 10 years depending on the bucket. Around 12.5% of the total token supply (i.e. 1,224,999,438 GRT) is expected to be in circulation at launch. However this figure is exclusive of stakeable but locked tokens.

    GRT token distribution at mainnet launch

    The Graph launched its mainnet at 9:00a.m. (PT) on 17th December 2020. Upon launch, GRT has been distributed to all of the participants of the public sale. Members of The Graph’s Curator Program also received an initial USD $1,000 worth in rewards, with the remainder to be distributed to them on a quarterly basis based on their contributions to the Program.

    The Graph Foundation also received around 20% of the supply for the future development of The Graph. In particular, contributors who want to help building on The Graph can apply to their Grants Program, around 1% of the total supply of GRT will be allocated to support these participants in 2021.

    Here’s a graph showing the GRT circulation over the course of 5 years from the date of launch (i.e. 17th December 2020 at 9:00a.m. PT)

    5-year GRT circulation schedule by Bucket
    5-year GRT circulation schedule by Bucket (Image source: The Graph)

    Indexers that assisted during the Testnet phase have also ben rewarded between USD$10,000 to USD$100,000 in GRT as a reward for their contributions.

    In addition, around 2% of the total GRT has been granted to several Education Programs and loans totalling around 2.5% had been made to independent ecosystem partners.

    Indexer Staking

    In order for users to stake in the nodes that operate the whole platform and sell their services in the query market, they have to lock their GRT. In return, they are given financial rewards. If the indexers work maliciously, like altering data intentionally, the GRT that they staked will be slashed.

    Mainnet now live!

    The Graph Network launched its main net on 17th December 2020 after 3 years of development! According to the team the mainnet launch includes the following components: Deployment of The Graph Network contracts on Ethereum mainnet, deployment of the GRT contract, distribution of GRT to takeovers, launch of the Bug County Program and new docs for network roles.

    With the mainnet launch, Indexers will first stress test and improve performance before supporting real query volume, which will be upwards of 5,000 queries per second. Of course, there will be rewards for Indexers who will now begin earning on-chain indexing rewards and query fees.

    Graph Roadmap: What’s next?

    Now that mainnet has launched, The Graph will continue building. The Team has stated that the Graph Foundation will work on building a production-ready Graph Explorer dApp and Gateway that will support all network contributors.

    The Graph is also open to any individuals or third-parties that want to build for the network and as mentioned previously, they an apply to the Grants Program or collaborate with other community contributors.

    Conclusion

    Looking at the current boom of the DeFi space, we can see how important it is for developers to be able to freely access blockchain data. Making the process faster and less difficult for everyone could potentially influence the growth of the space as well as its reliability, security, and capacity.

    Everyone saw the need to create a bridge of information between applications and blockchain data. The Graph sought out to answer that.

    And with the deployment of smart contracts that depend on user data, The Graph has proven itself to be easy to use, cost-efficient, and fast. The platform is seen as a promising tool to empower everyone in the community, especially those who are developing more use cases for the blockchain.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Polkadex: Polkadot’s DEX for the DeFi ecosystem

    Polkadex: Polkadot’s DEX for the DeFi ecosystem

    Polkadex is a new addition to the Polkadot ecosystem. Polkadex a decentralised cryptocurrency exchange (DEX) concentrating purely on tokens powering decentralised finance (DeFi) applications through a user-friendly interface and lightning-fast transactions.

    Background

    Polkadex is developed by a team of highly skilled professionals led by Matthias Hafner (cryptoeconomic advisor), Vivek Prasannan (executive director), Gautham J (CEO & tech lead), and Deepansh Singh (COO). In addition, the team comprises advisors on artificial intelligence, machine learning, and banking.

    The project has struck key partnerships with notable firms such as CMS, Cluster, Blocksync Ventures, Existential Capital, Web3 Foundation, among others.

    What is Polkadex?

    Polkadex is a non-custodial decentralized platform powering the P2P exchange of tokens used in the DeFi ecosystem. The platform looks forward to building a financial-inclusive future through bridges that connect traditional and decentralized finance spaces.

    The project leverages the power of the Polkadot platform.

    The decentralized exchange is designed to solve liquidity issues plaguing many platforms in the market today. The root of the problem is the use of an orderbook on a decentralized protocol.

    The introduction of automated market-maker (AMM) as the solution led to the birth of Uniswap and other DeFi protocols. Unfortunately, the approach had its own limitations.

    For example, it can only be beneficial when there’s a price difference on exchanges using an orderbook. However, even though AMMs rely on orderbook-based platforms, these platforms don’t need AMMs for them to run.

    To bridge the disconnect, Polkadex brought AMMs and the orderbook together. The project is unique because it uses on-chain bots for market making.

    Key Components of Polkadex

    To bring its vision into focus, the project is built on FIVE core components. They include:

    Fluid Switch Protocol

    The switch changes between the platform’s orderbook and automated market-making AMM. The shift ensures that the decentralized exchange (DEX) has seamlessly-flowing liquidity for traders and liquidity providers.

    By utilizing professionally-designed AMM algorithms, Polkadex provides a fully-supported orderbook, which in turn eradicates impermanent loss and price slippage, which are the biggest ills in the DeFi sector.

    Trading Bots

    Polkadex powers high-frequency trading using trading bots. Notably, these bots handle both institutional and retail customers. They use a carefully manicured architecture that optimizes cancellation fees by managing traders’ entry and exit points depending on the situations in the market. (radiomusical.com)

    The bots are also used to perform on-chain market making. This approach fuses AMMs with an orderbook. How does this work?

    When the bots don’t find a match during a trade, they automatically place the trade in an orderbook adding liquidity to the network.

    When a trade doesn’t find a match in the orderbook, the bots are tasked with finding a suitable pair. Note that trades on Polkadex are only completed using the best price.

    Ethereum Bridge

    With most DeFi networks running on the Ethereum blockchain, Polkadex employs a trustless Ethereum bridge to facilitate the movement of any token to the decentralized exchange. Consequently, it makes it possible to interact with other liquidity providers in a trustless way that allows users to maintain control of their virtual wealth.

    High Performance

    Currently, Polkadex is operating in a testnet capable of reaching a speed of 300 transactions per second (tps). Although this speed is enough in the current landscape, the project targets a throughput of 20,000 tps.

    Polkadot Parachain

    The exchange incorporates the Polkadot Parachain as an additional way to drive liquidity into the DEX. However, the parachain is only used to bring tokens from the Polkadot ecosystem to the Polkadex world.

    During the movement, the security of the tokens is provided through an interoperability layer provided by Polkadot. In addition, the layer assumes a non-custodial approach letting token holders have full control of their digital wealth, effectively eliminating centralized service providers.

    Types of Trades Supported by Polkadex

    The exchange supports market and limit orders. Limit orders enjoy zero trading fees while market orders incur a 0.2 percent trading fee.

    The main reason for the difference in trading fees is that limit orders add liquidity to the platform while market orders remove liquidity. Liquidity providers share the trading fee charged on market takers on a 50-50 ratio with the Polkadex team.

    Since bot-based transactions aren’t viable on a decentralized exchange using smart contracts, Polkadex moves above this hurdle by removing network fees.

    However, this presents another problem where malicious actors can attack the application through a DDoS (Distributed Denial of Service) attack. To guard against such incidents, Polkadex lets the blockchain anticipate such attacks and impose a network charge for specific trades.

    The exchange uses several methods to determine a potential DDoS threat. For instance, if a trade has an invalid price, trading pair, order type, or insufficient balance, then it’s categorized as a likely DDoS attack.

    Two Critical Polkadex Partnerships

    Polkadex X KILT Protocol X Fractal

    Polkadex joined hands with KILT Protocol and Fractal to bring decentralized know-your-customer (KYC) functionalities to the DEX. The partnership saw Fractal, an identification firm, and Polkadex leverage KILT’s infrastructure to manage KYC procedures needed by the exchange.

    The move eases the onboarding process for the DEX’s users. Note that KILT stores customer information. Thus, with the collaboration, new exchange users are directed to the KILT platform, where they set-up a wallet that stores their data in a decentralized way.

    Polkadex X Cryptecon.org

    This partnership involved including Cryptecon’s Matthias Hafner into the DEX’s advisory board. Hafner’s experience in developing economic models helps the exchange effectively merge its orderbook with multiple AMMs.

    Current status of Polkadex

    Polkadex is currently in the testnet phase and has recently released version 2.0. New features in this release include:

    1. ability for the public to use testnet tokens to submit trades; and
    2. ability to watch live trades being executed by the Polkadex engine.

    To participate in the testnet, you will need to download the Polka Chrome extension and create an account. Then you can ask for testnet tokens in their official telegram group.

    Polkadex interface
    Polkadex interface (Image credit: YouTube)

    Roadmap: What’s next for Polkadex?

    The next exciting phase for Polkadex of course would be its mainnet launch. It appears that they intend to be on track for mainnet launch in Q1-Q2 2021.

    As for Polkadex’s token sale, they have indicated on their Telegram group that the community round will take place in March 2021.

    Polkadex roadmap
    Polkadex roadmap (Image credit: Polkadex)

    Conclusion

    Polkadex takes a superior approach in fusing AMMs with the orderbook through the inclusion of on-chain market-making bots. Notably, the provision of a user-friendly design, a high throughput, and a non-custodial approach add to the exchange’s uniqueness among other DEXs in the market.

    Additionally, its partnership with KILT and Fractal eases the onboarding process while the Cryptecon collaboration enhances its Fluid Switch component.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Polygon ($MATIC): can it solve Ethereum’s scaling challenges?

    Polygon ($MATIC): can it solve Ethereum’s scaling challenges?

    The Ethereum network has immensely pushed the boundaries of blockchain technology more than Bitcoin ever had, especially in the decentralized finance (DeFi) sector, where hundreds of different projects have been able to leverage the flexibility and effectiveness of the host blockchain.

    Unfortunately, the slow transaction speeds and high costs are significantly limiting the performance of Ethereum-based projects to the point that some of them are migrating to alternative chains like Solana and Binance Smart Chain. Yet the vast majority of applications still hold on to Ethereum, waiting for Ethereum 2.0 to fully scale the network.

    Ethereum is in dire need of a scaling solution that can speed up the blockchain’s throughput. Thankfully, Polygon is working on one of such solutions that would see the load on the Ethereum blockchain eased on parallel child chains.

    Background

    Polygon started out as Matic Network, a blockchain solution intended to speed up blockchain transactions and make them more accessible to the general public. Later on, the company refocused its objectives on the Ethereum network to furnish it with layer two scaling solutions. The name Polygon came along with the branding.

    The startup was founded by four Indian technologists, Jaynti Kanani, Anurag Arjun, and Sandeep Nailwal, who had a similar vision of a future where machines and humans interacted freely. The three entrepreneurs agreed that blockchain technology is a vital tool for achieving such a society.

    The trio was later joined by a Serbian tech maximalist and Ethereum enthusiast, Mihailo Bjelic. In a seed round announced on the 1st of August, 2019, Polygon received funding from MiH ventures through Crunchbase. Version 1 of Polygon’s SDK was scheduled to be released in March of 2021.

    What is Polygon ($MATIC)?

    Polygon is a framework that allows Ethereum-based applications to bypass the low throughput, high gas fees, and poor interface of Ethereum while still enjoying its support

    Polygon’s main component is its software development kit (SDK). The SDK is a flexible structure that allows projects to develop different sidechains that suit their needs. Necessary support is provided so that the alternate chains can interact effectively with Ethereum’s main chain.

    By arming developers with flexible and easy-to-use tools, Polygon accelerates the transformation of Ethereum into a multi-chain ecosystem. Its users would be able to create Optimistic rollup chains, ZK rollup chains, and other types of sidechains.

    But beyond being a mere framework, the Polygon platform is focused on connecting blockchains with one another, as well as the Ethereum blockchain itself.

    Advantages of Polygon

    The major benefit of Polygon is scalability, which the crypto space is in dire need of today considering that it takes forever for transactions to be verified on the Ethereum network, especially if you try to decrease the gas fees. Dapp developers have to pay so much in gas fees that it curtails their development and affects their offering to users.

    And this is the pain point that Polygon aims to ease, and they are on their way to scale the Ethereum network.

    Polygon Matic solution
    Polygon’s solution to the challenges facing Ethereum (Image credit: Polygon)

    Polygon for Developers

    Developers can build a network of scalable side chains to the Ethereum blockchain through Polygon; one with independent consensus algorithms on a more developer-friendly, Web Assembly (WASM) environment.

    Developers would be encouraged to build more and advance the general direction of the crypto industry, especially the DeFi sector. Polygon’s SDK does not require developers to have blockchain expertise. In fact, knowledge of these protocols is unnecessary in building from its SDK.

    Users would also benefit tremendously with more easy-to-use interfaces, near-instantaneous transactions, and low costs. If well-executed, this will likely propel the growth of Ethereum dapps to astronomical levels and will push the boundaries of crypto to include the masses outside the industry.

    Support, Flexibility, and Security

    Polygon permits incredible flexibility for the development of chains.

    Its modular nature allows developers to assemble products at unrivalled speeds. The easy assembly will also accelerate dapp development, effectively shortening the interval between the conception and deployment of blockchain products.

    Support would also be provided for easy interaction with users, as well as external systems. Token exchange, contract calls, and communication with oracles are also supported on Polygon. Furthermore, the products would be easily upgradeable.

    All these and more will be possible on Polygon without compromising on security. In fact, developers would be free to choose their approach to secure their platforms, using the modular “security as a service” feature on the Polygon framework.

    Above all, all products developed on Polygon would be compatible with Ethereum.

    Polygon Chains

    During the days of Polygon’s Matic network, an Ethereum sidechain that uses the Plasma framework was the landmark of its offering. The Plasma framework allowed sidechains to run independently, only interacting with the main blockchain when it was necessary.

    Polygon’s new platform sees it advance with the demands of the market by offering different chain networks that are attuned to Ethereum’s blockchain. And these are: stand-alone chains and secured chains.

    Stand-alone Chains

    Stand-alone chains have security autonomy, with each chain being responsible for its own security. Such chains have the freedom to choose their own validation methods. They can establish a personal pool of validators who ensure the authenticity of transactions directly on the blockchain.

    Polygon stand-alone chains
    Polygon stand-alone chains (Image credit: Polygon lightpaper)

    Secured Chains

    On the other hand, secured chains involve outsourcing the platform’s security to a third party. The third-party can be Ethereum itself, with its fraud-proof and validity proof pools. There are other independent, professional pools of validators that offer security as a service as well.

    Overall, secured chains often enjoy more reliable and tighter security even if they might have to sacrifice some independence.

    Polygon secured chains
    Polygon secured chains (Image credit: Polygon lightpaper)

    MATIC token

    MATIC is the only native token of Polygon, it is used to pay transaction fees and participate in Polygon’s proof-of-stake consensus mechanism.

    Conclusion

    Polygon’s vision is to launch whole blockchains that are scalable, secure, and have amazing interfaces, allowing decentralized applications to have an alternative platform to carry out transactions while enjoying the security and support of the Ethereum network.

    Meanwhile, the Ethereum dev community is also continuously working on the Ethereum 2.0 project (Serenity), which seeks to ultimately scale its blockchain to unimaginable capacities even beyond Visa and Mastercard.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • What is Solana (SOL token): explained

    What is Solana (SOL token): explained

    UPDATE:
    A lot has happened with Solana since this article was written. We’ve published another article on the latest Solana updates here.

    Solana ($SOL) is one of the hottest blockchains in 2021 – due to its incredible speed and extremely cheap transaction cost. This means Solana can support a huge number of decentralized applications without slowing down or having extremely high transaction costs (a problem currently plaguing the Ethereum ecosystem). Solana transactions can cost as little as $0.001 USD.

    Solana is taking on one of the biggest challenges with existing blockchains- scalability. Designed from the ground up to be able to process over 50,000 transactions per second, Solana is built with scalability and speed in mind. This directly competes with other payment systems like Paypal or Visa. On top of this, Solana can achieve sub-second confirmation times, meaning users do not have to wait for their transactions to be confirmed. This makes Solana an idea blockchain for decentralized finance and trading – as traders demand near-instant trade times.

    Solana achieves this incredible speed by solving how the blockchain tracks time and issue timestamps – using a mechanism called “proof of history“. Proof of history allows the Solana network to synchronize their individual clocks such that they are all in agreement with each other.

    And this is the reason why Solana was developed. With the capacity to process more than 50,000 transactions per second, Solana has attracted several crypto proponents including FTX exchange.

    Learn more about FTX Exchange.

    Check out our video on what makes Solana so hot right now.

    https://www.youtube.com/watch?v=2bp16DGhWjE

    Background

    Anatoly Yakovenko founded Solana back in 2017. Yakovenko is a software engineer that formerly worked for Qualcomm and Dropbox with extensive experience in compression algorithms. He originally published the Solana white paper detailing Proof of History and how it can be used to speed up both proof of work and proof of stake-based blockchains.

    Along with Greg Fitzgerald, Solana’s CTO, as well as Eric Williams, they conceptualized a new way of dealing with the throughput problems that were present in both the Bitcoin and Ethereum blockchains. They envisioned a trustless and distributed protocol that allows for greater scalability, which was how Solana was born.

    What is Solana? Key Innovations

    Solana brings a total of 8 innovations that are exclusive to its system. The innovations revolve around how information is sent within a network – with the objective of making Solana as fast as how data transferred.

    1. Proof of History (POH) – Cryptographic clock for the blockchain.
    2. Tower BFT – Solana’s version of the Practical Byzantine Fault Toleration (PBFT) system
    3. Turbine – Blockchain broadcasting protocol.
    4. Gulf Stream – Forwarding protocol without mempools.
    5. Sealevel – Solana’s parallel smart contracts.
    6. Pipelining – Transaction Processing Unit.
    7. Cloudbreak – Accounts database.
    8. Archivers – Storage of blockchain history.

    Let’s take a look at these key innovations in turn.

    Proof of History

    Solana took to the community a new solution to make a blockchain more decentralized. The PoH system embeds historical records of blockchain transactions in order to prove that transactions indeed happened before they are included in the distributed ledger.

    This is done by what Solana calls the ‘Verifiable Delay Function.’ On the Solana blockchain, transactions are embedded with timestamps that help establish the sequence of events that were processed before the latest state of the blockchain is broadcasted to the whole network.

    Transactions are entered into blocks through Solana’s sequential preimage resistant hash, simply referring to hashes that cannot be altered. These hashes are then used as an input to the next transaction. Then, these entries are timestamped to record their actual sequence and eventually, save time on having to revalidate each hash function altogether.

    TowerBFT

    TowerBFT is Solana’s version of the PBFT system. The consensus algorithm uses PoH as its cryptographic clock in order to reach blockchain consensus without incurring massive messaging overhead and transaction latency.

    Before the state of the ledger is finalized, validators vote on which version of the ledger is accurate. Then, their vote is locked out. This means that they are prohibited from making a different vote on a future version of the blockchain that does not show that the record of the previous votes on it.

    Turbine

    Solana makes it easier for data to be transmitted to every blockchain node by dividing them into smaller packets. This helps Solana address bandwidth issues and increase its capacity to settle transactions faster.

    Gulf Stream

    Solana can achieve a network throughput of 50,000 transactions per second by easing the process of block confirmation. Gulf Stream facilitates the process of transaction catching and forwarding even before the next set of blocks for confirmation are finalized.

    Sealevel

    Thousands of smart contracts run in parallel with each other to achieve a more efficient runtime for Solana. Transactions that are in the same state of the blockchain can run concurrently.

    Pipelining

    A set of blocks that contain transaction information is quickly validated and replicated across all nodes in the network. Solana does this by assigning a stream of input data onto different hardware that is responsible for each of them.

    Cloudbreak

    Solana achieves scalability with no risk of sharding by organizing a database that simultaneously reads and writes transaction input. Cloudbreak establishes a data structure where transactions are processed in software that utilizes every hardware responsible for indexing data.

    Archivers

    Solana’s network allows every node to replicate information from the blockchain according to the space available on their hardware. Archivers download their respective data from validators, and this data is accessible to the network.

    Programming on Solana

    Solana has support for smart contracts that allow developers to write decentralized applications on the network. This means it’s possible to run decentralized exchanges, lending platforms, and NFT marketplaces on Solana. The native language to program in Solana is RUST. RUST is a programming language that emphasizes performance and reliability over ease of use. This means that developing for Solana is harder than Ethereum (which uses solidity), but also can produce more reliable dapps.

    Solana is fundamentally different in terms of programming language and network design – making it very different from Ethereum (which is arguably the biggest smart contract network today).

    Solana NFT

    Solana allows users to mint, sell and trade NFTs on a larger scale. The marketplace hosts over 5.7m NFTs and the average mint cost is around US$1.5 per NFT.

    Solana allows creators to host NFT marketplaces on the Solana ecosystem.

    SolSea is Solana’s first ever NFT marketplace. SolSea offers creators tools for developing and managing their NFT collections. Other NFT marketplaces on Solana include Magic Eden, Solanart and Metaplex.

    SOL Token ($SOL): What is it and what are its uses?

    Solana’s native token or coin is known as $SOL. Currently, there is a circulating supply of 26 million SOL and it has a maximum supply of 489 million SOL.

    Staking SOL

    Solana is a Proof-of-Stake (PoS) network with delegations. Validators process transactions on and run the network. Since validators are also chosen based on the amount of stake they hold in the network, the biggest staked validators are likely to be chosen to input transactions on the blockchain. And when they do this, they earn rewards. Therefore validators would want to entice delegators (i.e.non-validator SOL token holders) to allocate tokens to them to stake on their behalf. Validators do this by offering lower commissions, which delegators must pay to validators in the form of a fee representing a percentage of the rewards earned.

    How to Stake SOL Tokens

    Staking SOL tokens can also be a way for users to earn a profit if they are just holding their tokens.

    1. Transfer tokens. To stake SOL tokens, users have to first transfer their tokens in wallets that support staking. These are wallets like Ledger Nano X.
    2. Make a stake account. A stake account will have a different address from the supported wallet that you will link it with.
    3. Select a Validator. After creating a stake account, you can choose from Solana’s validators to determine who you’ll delegate your SOL to.
    4. Delegate your Stake. Once you have chosen a validator, you can use your wallet to delegate your stake account to them.

    Solana partners with Serum ($SRM)

    Serum is a new high-speed non-custodial spot and derivatives decentralized exchange (DEX) built on Solana. The reason why Serum wanted to build on Solana is that it wanted to enable the best of both the centralized and decentralized worlds, that is, an exchange that is able to be resistant to censorship and non-custodial, yet fast, inexpensive, and highly liquid. And this is only achievable because Solana enables Serum to run on an on-chain central limit order book (CLOB) that updates every 400 milliseconds.

    What does this mean for cryptocurrency and DeFi traders? It means that Serum will have the lowest latency and gas costs.

    Learn more about Serum in our full review ($SRM)

    Conclusion

    The common problem with the earlier blockchains are issues concerning transaction settlement speed and bandwidth. With Solana’s new architecture powered by a new way to verify transactions and coupled with an efficient PoS mechanism, it can definitely be a strong candidate for platforms that could compete with Bitcoin and Ethereum.

    What is the best wallet for Solana (SOL)?

    The best and most user-friendly wallet is Phantom wallet. This Web3 compatible wallet can be installed directly on your browser as a “Chrome Extention”, allow you to directly interact with websites in the Solana Ecosystem. Phantom wallet is non-custodial, meaning only you will have access to your cryptocurrencies. Phantom can also be used with Ledger Hardware wallets for additional security.

    How do you stake Solana?

    Solana can be staked on the FTX platform for 6% APR rewards. Rewards are given in the form of SOL. It is important to note that unstaking requires at least 7 days – with a 10% penalty for immediate unstaking.

    How does Solana compare vs Ethereum

    Solana’s key difference with Ethereum is that it solves the scaling on layer 1 – instead of other workaround solutions. Solana was designed to be fast by improving network speed and communication between nodes. One key advantage of scaling in this manner is that it doesn’t break composability – the communication between different smart contracts. Ethereum 2.0 scales using “shards” – a technique that could potentially introduce communication issues between decentralized applications on different shards.

    How do you mine Solana?

    It is not possible to mine Solana as the blockchain is not based on proof of work consensus (unlike Bitcoin mining). Solana can only be purchased on exchanges or earned via staking mechanisms.

    Is Solana Proof of Stake

    Solana is a Proof of Stake blockchain – requiring validators to stake SOL in order to participate in network consensus. Validators have an elected leader that broadcasts the transaction order and this action is replicated in other validators.

    Is Solana ($SOL) token undervalued/underrated?

    CEO of FTX exchange Sam Bankman-Fried (SBF) has stated in an interview with Fortune that SOL is the “most underrated token…at least as of a month ago [July 2022]”. Despite the recent Solana hack, SBF’s opinion on the SOL token remains unchanged. SBF believes that Solana has growth potential since it has worked through two-thirds of the technical issues already. He also added that, with reference to Solana, anytime the limits of what is possible are tested, is when you figure out what needs to be refined or improved. And that, “Any blockchain would have broken if it tried to do what Solana had done.”

    Solana $SOL price prediction?

    As of early August 2022, Solana ($SOL) has been trading at around US$39. The all-time high price of SOL was $259.96 and the all-time low was $0.500801. Prices of SOL were unaffected by the recent Solana hack, much to the surprise of the cryptocurrency community. Sam Bankman-Fried, CEO of FTX exchange and Solana, Therefore, crypto analysts predict that SOL prices have the potential to continue rising to a range of not less than US$55 to potentially US$68 by the end of 2022.

    Where can I buy Solana ($SOL) crypto token?

    Solana $SOL token can be bought on most major crypto exchanges e.g. Binance, FTX, KuCoin, Gate.io, Kraken, Huobi Global, and OKX. They can also be found on decentralized exchanges (DEXs) such as Uniswap and Sushiswap.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Persistence ($XPRT): Bringing DeFi to institutions?

    Persistence ($XPRT): Bringing DeFi to institutions?

    Persistence ($XPRT) is an asset-based lending/borrowing and debt issuance/management hybrid protocol, bringing the power of real-world assets to DeFi. It does so by facilitating crypto-assets borrowing, using real-world assets as invoiced NFTs, and then using them as wrapped financial products.

    Persistence One is designed to enhance the transfer of value between the two worlds of finance by enabling value transfer through seamless interoperability via on-off ramps. It was developed to promote open and inclusive finance in addition to solving inefficiencies in payments and financing.

    Check out our interview with CEO and Co-founder Tushar Aggarwal

    https://youtu.be/rGNtrNUyTEY
    Bridging DeFi and traditional finance- Persistence w/ Tushar Aggarwal

    What is Persistence?

    Persistence is an asset-based lending/borrowing and debt issuance/management hybrid protocol, bringing the power of real-world assets to DeFi. It does so by facilitating crypto-assets borrowing, using real-world assets as invoiced NFTs, and then using them as wrapped financial products.

    Persistence One is designed to enhance the transfer of value between the two worlds of finance by enabling value transfer through seamless interoperability via on-off ramps. It was developed to promote open and inclusive finance in addition to solving inefficiencies in payments and financing.

    Background And History

    The project was launched in January 2020. The Persistence team is multicultural and consists of experienced members with sound technical backgrounds. They come from various traditional finance and blockchain companies. As such, they are familiar with the limitations of the current DeFi and centralised finance (CeFi) systems and are aware of what needs to be improved.

    Persistence protocol is led by CEO Tushar Aggarwal and CTO Deepanshu Tripathi, both with legacy finance applications development experience. The team believes that three core elements namely Capital, Technology, and Media are crucial for the success of a project and work to establish a balance between them.

    How does Persistence work?

    Their mode of operation lies in four steps of (1) tokenization; (2) trading; (3) the origination of debt and (4) its securitization. The process begins with tokenizing real-world assets’ invoices as NFTs. This is done so that the assets can be represented adequately on the blockchain.

    Next, comes the trading of such NFTs against stablecoins.

    Stablecoins are then borrowed by putting real-world assets representing NFTs as collateral, the birth of loans. The fourth and last step is the packaging of the loans into different pools to create fixed income investable products – a process known as securitization of debt. 

    Why use blockchain?

    A key question at this point relates to the reason and advantages of using blockchain for such activities. The mission of Persistence is to increase the speed and efficiency of value transfer, as well as make it more secure. As it happens, blockchains specialize in such matters.

    Some advantages for Persistence to use blockchain for their operations includes:

    1. It allows for capital movement in a trustless, borderless, and “free from time constraints” manner.
    2. Blockchains permit invoices, letters of credit and bills of lading, etc. to be tokenized and turned into divisible assets as NFTs.
    3. Introduces the decentralized exchange for uncensorable and secure trading of real-world assets against stablecoins.
    4. Results in the creation of debt marketplaces for lending/borrowing.

    Persistence’s approach

    Persistence has applied a dual-focus approach for the successful execution of the project. The institutional focus utilizes the asset-based lending use case for physical commodity traders and financiers. Secondly, is the crypto focus, which allows blockchain-based assets to integrate with real-world yield-bearing assets.

    Persistence blockchain system

    As a Proof of Stake (PoS) blockchain system, the protocol has three layers of Persistence chains (app-chains deriving security from the main-chain and its validators), Persistence SDK (a plug and play module system powering functionality on the network), and Persistence dApps (finance-based applications).

    Its design principles are chain sovereignty (independent secure blockchain operation), liquidity, and usability for business purposes. The Persistence protocol blockchain system is privacy-preserving by default yet legal and regulatory-compliant, is integrated with FIAT on and off-ramps, and allows for simplification of processes.

    Persistence SDK is by far the platform’s most important implementation of the blockchain. The Software Development Kit is a system of highly effective modules that enable the creation of marketplaces, yielding to a fast and comprehensive exchange of value.

    Overall, the SDK protocol is characterized by four key features, being accessibility, liquidity, innovation, and sustainability. These factors power the protocol and allow the Persistence One platform to elevate physical commodities on-chain as NFTs. 

    Additionally, through the SDK factors, the platform can efficiently implement crypto with real-world use cases ensuring a continuous stream of sustainable income. By doing so, it unlocks a huge potential for MSME businesses in the DeFi sphere through untapped liquidity; thereby providing tremendous opportunities within the crypto space.

    Persistence’s asset-based lending platform Comdex

    The protocol has developed the Comdex decentralized commodities trading and financing platform that connects commodities traders, while also providing financing facility to sellers. It is commodity agnostic and can allow for trading diverse groups of commodities, ranging from metal to food products.

    Comdex, for regulatory compliance, would require Anti Money Laundering (AML) / Know Your Customer (KYC) checks before on-boarding. It would also feature a trader’s right access system to determine access to particular commodities, opening trade, executable trade size, etc. On top of everything, all activities will be recorded on the open blockchain.

    Comdex is the result of a partnership between the Persistence One dynamic team and trading entrepreneurs in Singapore that rely on the platform’s ecosystem to bring forward blockchain integration. As per recent developments, the Comdex protocol has been gaining traction within the blockchain. 

    Comdex has already managed more than $55 million in transaction volume, far ahead of its competitors in terms of assets on-chain.

    What is pLend, Persistence’s lending platform?

    Backed by real-world assets, Persistence Lend or pLend is a stable coin lending platform that facilitates the supply of liquidity to pools for all Comdex transactions and dealings. pLend empowers stablecoin holders and enables them to supply liquidity, generating huge returns from real-world income and assets.

    So far, pLend’s unique implementation has bridged the gap between traditional finance (TradFi) and DeFi. The lending platform will allow users to engage in the $65B global trade within the financing sector.

    Overall, pLend guarantees participants huge returns on their assets without the need of often unsure mainstream DeFi solutions.

    AUDIT.one

    Described as a subsidiary to Persistence One, AUDIT ensures top-tier validation services for leading PoS networks through secured Tier 3 and 4 data centers across the globe equipped with a multi-cloud architecture.

    Presently, a total of nine networks has entrusted AUDIT.one with approximately $120M worth of assets, including Cosmos, Terra, Matic Network, and NEAR. Additionally, well-known networks like Polkadot and Ethereum 2.0 have shown interest in the Persistence-based protocol.

    Persistence token ($XPRT)

    Persistence has a native token known as $XPRT built as an ERC-20 based token (for now) and has a 100M supply). Its main uses are staking (for participation in network security), community governance (allowing holders to vote on important matters), rewards (for contributing to the network), and work token (deriving value from the activities on the network).

    XPRT StakeDrop

    The StakeDrop campaign is made possible through the pStake protocol that guarantees the issuance of representative tokens (stk Tokens) on Ethereum which are backed by the staked assets. 

    In the case of ATOM; illiquid staked ATOM tokens can be converted to liquid representative ER-20 tokens that can be utilized within the immense and growing DeFi space, backed by the Ethereum blockchain. This means that newly staked ATOMS will now be able for use as collateral when borrowing different stablecoins.

    Through this system, participants are provided with the opportunity to implement differential strategies in accordance with their needs within the blockchain. 

    pStake offers a unique way to stake PoS tokens and in the near future, a percentage of all tokens staked via pStake will also be staked through the AUDIT.one validator, thus ensuring the growth of both protocols within the blockchain.

    Benefits of staking Persistence token ($XPRT) (Image Credit: Persistence)

    Can Persistence successfully appeal to institutional clients and companies?

    The current DeFi infrastructure isn’t conducive to institutional clients and companies. This is mostly because current DeFi projects have institutional red-flags such as pseudo-anonymity, open transaction and activity details, having no legal compliance, having only crypto-based settlements, and having complexities transferred to the users (gas payments, security, key management, risk management, etc.)

    However, the Persistence protocol offers verifiable anonymity, hidden transaction details and records, is legally compliant, has FIAT-based settlement guarantees and simplified process – gas payments, security and key management run by the platform. It also provides an institutional-grade infrastructure that these clients are used to.

    Conclusion

    Persistence is a strong contender for overcoming the obstacle to DeFi being widely used by institutional clients, companies and enterprises. It does this by offering anonymity, hidden transaction records and most importantly, be legally compliant. In these respects, Persistence can help blockchain move from a speculative phase to being used in the real world, including traditional finance.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Yearn.Finance merging the DeFi Ecosystem

    Yearn.Finance merging the DeFi Ecosystem

    The decentralized finance (DeFi) space has grown to include platforms in various sectors such as spot trading, derivatives, and futures. Interestingly, some networks such as Yearn Finance support yield farmers and liquidity providers through an aggregation service.

    Instead of offering spot trading, lending, or borrowing functionalities, it allows users to deposit funds, then it distributes it based on projected returns and the risks involved.

    However, this isn’t enough to drive meaningful DeFi adoption. Therefore, Yearn followed the partnership route to expand its ecosystem and to improve interoperability between DeFi systems.

    In this article, we look at the most impactful partnerships in the Yearn ecosystem:

    Yearn + SushiSwap

    Yearn x SushiSwap
    Yearn x SushiSwap (source: Yearn x Sushi 行ってきます medium article)

    On November 3, 2020, Yearn’s creator, Andre Cronje, took to Medium to announce the coming together of his platform and Sushiswap. The connection between the two platforms meets as Sushi improves its automated market-making (AMM) outlooks while Yearn digs deeper into aggregating formulas. These qualities brought a need for cooperation between them, leading to:

    • A combination of development resources.
    • A rise in the total value locked (TVL) on each platform.
    • Working together to develop and launch Deriswap, a platform bringing together spot trading, derivatives, and futures trading.
    • Introducing Keep3r Network, an on-chain price oracle on the second iteration of Sushswap.
    • Additionally, liquidity providers on Sushi provide collateral for the Sushi money market.

    Partnership with Cream Protocol

    The DeFi aggregator platform partnered with Cream, a lending network similar to Aave, in developing the system’s second version. With the partnership, the Yearn and Cream team created Cream V2, which introduced or enhanced leverage and lending features. Notably, the new platform enables yield farming using leverage.

    Yearn x CreamProtocol
    Yearn x Cream Protocol (source: Yearn & Cream v2 merger medium article)

    Additionally, Cream V2 acts as a springboard to power stable credit and yet-to-be-built lending functionalities. Apart from merging resources allocated towards development and seeing a rise in individual TVL, the partnership saw shares in Yearn Vaults qualify to provide collateral in Cream.

    One feature added to Cream’s new version includes rotating multi-signature keys in order to improve deployment, iteration, and testing. Unchanged features include those that touch on governance and native tokens.

    Akropolis and Yearn

    Yearn x Akropolis
    Yearn x Akropolis (source: μα τον Δια! Yearn x Akropolis medium article)

    The partnership is rather a unique one. Why? It aims to bring out the best in each platform’s team. Therefore, each team continues with their previous journey but leans on the other if they need help.

    Furthermore, Akropolis users can access Yearn and a host of other networks such as Cream and Pickle. In return, Yearn investors benefit from Akropolis’s investment strategies and a pool of institutional networks. The partnership between the two platforms brought with it improvements on Akropolis.

    For instance, there was a development of new vaults, an institutional application, some strategies, and a rotation of multi-signature. In addition, Akropolis’s native token was upgraded to be able to track losses.

    The PowerPool Partnership

    PowerPool is a decentralized protocol accumulating governance strengths in systems built on the Ethereum blockchain. In short, it brings together governance tokens from a wide range of DeFi protocols, such as Compound and Balancer.

    Yearn x Powerpool
    Yearn x Powerpool (source: Yearn Finance Newsletter #13)

    The partnership with Yearn Finance connected YFI, the governance token on Yearn, with PowerPool’s PowerIndex. PowerIndex provides a DeFi index inspired by distributed exchange-traded funds (ETFs). The index exudes meta-governance functionalities and contains eight tokens, including YFI.

    Note that the meta-governance aspect rides on concentrating user tokens from different DeFi platforms into a single contract. Next, the tokens’ voting weight is delegated to a group consensus. Notably, the contract generates a token that its holders can use to decide the other tokens’ fate in the pool.

    So, what does the partnership bring to Yearn?

    • Having a share of the index gives DeFi lovers a share in Yearn.
    • It increases participation in YFI governance issues.
    • PowerIndex supports swapping. Thus, anyone can exchange another platform’s token with YFI and vice versa.
    • In return, Yearn benefits from more liquidity. Additionally, pooling YFI helps stabilize its price.

    The Cover Merger

    Although Cronje formally announced the partnership on November 28, 2020, the two platforms have been collaborating since Cover’s launch. The marriage between the two opens doors to advanced features targeting optimization, among other aspects.

    The partnership allows Curve to provide backstop coverage to products built on Yearn. Their coming together allows Cronje’s network to enjoy Cover’s range of coverage known for supporting multiple collaterals. Yearn can mitigate risks for users through vault coverage. That’s not all. Underwriting coverage on Yearn becomes more profitable.

    Yearn x Cover (source: Yearn & Cover merger medium article)

    Fortunately, the benefits aren’t one way. For Cover, it’s hoisted to expand its wings to unchartered money markets. Additionally, it’s empowered to seek a bigger share of perpetual coverage and other products in the market. However, components such as the native COVER currency remain intact.

    Pickle and Yearn

    Yearn x Pickle (source: Pickle & Yearn ferment co-operation dill medium article)

    This is another key partnership in the Yearn ecosystem. Its uniqueness emanates from the fact that it’s supposed to eradicate duplicate works among the two teams. Doing so lets each team and individuals within a team work on what they’re extremely good at.

    As a result, Pickle will launch new features such as reward Gauges. Governing members on the Pickle ecosystem receive DILL tokens when they lock their tokens for governance-related purposes. DILL holders share Gauge performance, withdrawal, and deposit fees.

    On the other hand, Yearn users, especially Vault depositors, are incentivized to interact with Gauges through Vault shares. The depositors also receive more rewards by setting aside Pickle tokens to receive DILL. (www.chronicpainpartners.com)

    Others benefits originating from the partnership include:

    • A merger of the platforms’ TVL.
    • Pickle finds its way into the Yearn ecosystem.
    • Pickle enjoys Yearn’s security, among other features.
    • Pickle’s reward Gauges rake in incentives from Yearn depositors.
    • The two protocols’ teams work together on strategy creation and split profits from the strategies.
    • There’s an overall increase in rewards for users in both circles.

    Conclusion

    By expanding the Yearn ecosystem, Cronje and his team seek to build an inter-connected DeFi world. With everything connected to everything, DeFi adoption naturally sets in.

    Apart from interconnection and adoption, the partnerships focus on, for example, reducing the duplication of roles within teams working on DeFi projects. This encourages the birth of new products and features to help drive growth in the space.

    In the process, DeFi enthusiasts benefit from enhanced products and yields, which further encourage interaction with DeFi-focused systems.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • SuperFarm ($SUPER): Cross-chain NFT Farming with no code required

    SuperFarm ($SUPER): Cross-chain NFT Farming with no code required

    SuperFarm ($SUPER) is a cross-chain DeFi platform aimed at easing the process of creating non-fungible tokens (NFT) while giving them the capacity to add value to their tokens. It has its own NFT marketplace which creators could benefit from. The protocol is designed to make the user’s whole blockchain journey easier. Finally, SuperFarm is a continuously growing project that could attract more partnerships from several gaming platforms.

    Background

    Elliot Wainman, the creator of EllioTrades and co-founder of Dapp Evolution Games, began his work on SuperFarm with the objective of mass adoption for the Ethereum network. Elliot’s target is to reach over 2.5 billion gamers worldwide who are looking to purchase in-game assets through NFTs.

    SuperFarm’s first fundraising round amounted to a total of $1.1 million, where prominent cryptocurrency and financial firms like Bitcoin.com, GBV Capital, Solidity Ventures, and Spark Digital Capital, and many others participated.

    Before we dive deeper into what SuperFarm does, it is important to understand what NFTs are.

    What are NFTs?

    Non-Fungible Tokens (NFT) refer to digital assets that represent almost anything, from works of art or a person’s identity. NFTs cannot be duplicated and they all have distinct metadata.

    They are commonly used to create a blockchain representation of a real world asset so that they can be traded with crypto. Since NFTs are programmable, they can be attached with different characteristics and attributes according to the needs of the creator.

    What is SuperFarm?

    What is SuperFarm? (Source: ‘PART 1: Introducing SuperFarm‘ medium article)

    SuperFarm is a cross-chain DeFi platform for NFT farming without any code required, with the primary aim is of making it easier for anyone to create their own tokens and add value to them through NFT farming. And because it does not have any coding requirement on the part of the business, using the platform lessens the technical complexity of coming up with their own NFT.

    SuperFarm NFT Farming (Source: ‘PART 1: Introducing SuperFarm‘ medium article)

    The way SuperFarm abstracts the process of tokenization is through a series of visual, beginner-friendly tools. They can customize the rules for their tokens, identify their attributes, incentivize a behavior, and more. The SuperFarm platform is easy to use but it does not compromise quality and effectiveness.

    The tokens that can be generated on the platform are ERC20 compliant. They can sell them to any supported marketplace. In fact, users can even set-up their own NFT marketplace through the platform if they want to.

    NFT Farming

    Through the platform, businesses can easily create their own farms and put up their NFTs there. Users can access them to stake on NFTs and earn incentives. There is a minimum requirement of SUPER tokens, however, before anyone is allowed to open up new farms.

    NFT Marketplace

    Users are given access to the NFT store where they can purchase NFTs through the reward points they are given from farming. It also allows users to buy NFTs with supported cryptocurrencies.

    Superverse

    Superverse is the gaming interface for SuperFarm. It is an NFT-based card game that functions on an autobattler setup. Aside from game points, some of the rewards that are available in Superverse include NFT drops from SuperFarm-partnered gaming platforms.

    There is a minimum requirement for SUPER holdings before a user is given access to the Superverse.

    SuperFarm Feature Comparison Chart (Source: ‘PART 1: Introducing SuperFarm‘ medium article)

    Superfarm Native Token – $SUPER

    $SUPER token is SuperFarm’s native utility token. It can be used as a medium of exchange or to pay for governance and transaction fees. SUPER also gives its holders access to products and programs available in SuperFarm’s gaming ecosystem, video game partners, and NFT drops.

    Since the platform seeks to be fully-decentralized in the future, its governance is community-directed. Any decision or proposal to amend or modify the platform has to go through the vote of SUPER holders. Voting power can be determined by the amount of the SUPER tokens you hold. The more you hold in SUPER, the stronger your voting power will be.

    Other purchases you can make in the platform also involves SUPER. It can be used to access some important features of the platform which are only available to holders of SUPER.

    If you want to purchase SUPER, the token is listed on Uniswap. Below are some of the use cases for SUPER.

    SuperFarm $SUPER use cases (Source: ‘PART 1: Introducing SuperFarm‘ medium article)

    Staking

    SUPER can also be staked. Users just have to lock their SUPER in a smart contract so they can earn token rewards for doing so. This reward structure comes from the collection of platform fees which are made in SUPER as well.

    Farming

    SUPER can be staked for NFT rewards too. By participating in the staking for NFTs, users can also receive exclusive NFT rewards from partner farms.

    Users can also set up their own farms on the platform. However, there is a minimum requirement of 100,000 SUPER tokens in order to do so. The purpose of the quota is to make sure that there is a low likelihood for spams, good quality of farms, and to incentivize the purchase of the token.

    NFT Drops

    SUPER holders are also entitled to NFT drop rewards. These are the NFTs available in the Superverse and partnered video games. However, to be a part of the NFT drops, users should be holding the minimum SUPER tokens required.

    SuperFarm NFT Drops (Source: ‘PART 1: Introducing SuperFarm‘ medium article)

    Conclusion

    SuperFarm is an interesting DeFi project. One of the platform’s strengths is that it has already identified who its target market is. If the project takes off successfully and gets more gamers and developers on-board, it is highly likely that it will drive people’s interest in crypto and DeFi significantly. Imagine 2.5 billion gamers jumping onto the crypto train; it will be a huge feat.

    Moreover, SuperFarm is a project that businesses can easily benefit from. If they want to create their own NFTs and market them, SuperFarm’s interface has prepared the platform for them as well. If the project achieves its objectives, it offers a promising outlook for the whole of DeFi. Looking at where it stands today, it is not impossible. The platform is easy-to-use and profitable. It belongs to the DeFi projects we have to look out for.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.