Highlights of this week (10/8 - 16/8)
- The fierce battle on the Restaking track is going on: EigenLayer or Symbiotic, who will be the ultimate winner?
- TRON Ecosystem launches SunPump meme currency launch platform, igniting a new round of meme currency craze
- Polymarket US presidential election: Kamala Harris surpasses Donald Trump in victory margin for the first time
The fierce battle on the Restaking track is going on: EigenLayer or Symbiotic, who will be the ultimate winner?
This year, the Ethereum Restaking track has become the focus of heated discussions in the blockchain world. The concept of this track was first proposed by EigenLayer founder Sreeram Kannan and quickly attracted widespread attention. EigenLayer has gradually become the leader in this field, and almost no opponent can shake its position. The core mechanism of Restaking is to allow users to re-pledge the ETH that has been pledged on Ethereum on other consensus protocols, thereby maximizing the utility of assets and obtaining multiple ecosystem pledge benefits with one pledge cost.
However, the innovative mechanism of Restaking has also caused a lot of controversy. On the one hand, some people believe that Restaking can significantly improve capital efficiency. On the other hand, some people are worried that it is actually a leverage operation on funds, with huge potential risks. Despite this, I think the biggest problem in the Restaking track may not be the risk itself, but the singleness of the market, leaving EigenLayer alone and lacking enough competitors. The emergence of Symbiotic may be able to change this situation.
Symbiotic not only benchmarks EigenLayer in terms of project positioning and team strength, but the investment lineup behind it should not be underestimated. Backed by well-known investment teams Paradigm and Cyber Fund, Symbiotic has shown strong competitiveness. It is worth mentioning that the founder of Cyber Fund is the founder of the Ethereum staking project Lido, which means that Symbiotic has rich experience and strong influence in the field of Ethereum staking and liquidity staking.
Currently, Symbiotic plans to launch the mainnet in the third quarter, which is expected to be accompanied by the release of airdrop opportunities, which may attract a large number of pledged assets on EigenLayer to be transferred to the Symbiotic platform. In fact, after EigenLayer distributed airdrop rewards, its TVL (locked volume) has dropped significantly, which also provides opportunities for the rise of Symbiotic.
With the launch of Symbiotic's mainnet, the pattern of the Restaking track may undergo disruptive changes. Can EigenLayer maintain its leading position? Or will Symbiotic become the new overlord? This competition will undoubtedly become one of the most noteworthy events in the blockchain field this year.
TRON Ecosystem launches SunPump meme currency launch platform, igniting a new round of meme currency craze
This week, the TRON blockchain officially launched SunPump, a meme currency launch platform. This move followed the successful model of pump.fun, a popular project on the Solana chain, and quickly attracted widespread attention. In just a few days, the SunPump platform has listed more than 5,500 different meme coins and has generated a profit of more than 2 million $TRX, which is equivalent to approximately 300,000 US dollars.
The meme currency track is undoubtedly one of the hottest areas in the crypto market this year. It has not only attracted a large influx of investors, but also created many "get rich overnight" stories, successfully promoting cryptocurrencies to a wider audience. The rise of meme currency launch platforms has added a powerful boost to this phenomenon. This type of platform has achieved astonishing profits by relying on currency issuance fees and user transaction fees. Pump.fun has shown us the potential of this type of platform. The platform has earned a total of about 630,000 $SOL on the meme currency track, which is equivalent to about 92 million US dollars.
TRON’s launch of SunPump at this time can be said to be just in time. Currently, the total number of accounts on the TRON chain has exceeded 250 million, and founder Justin Sun also publicly stated that TRON's revenue this year has exceeded US$2 billion, which fully demonstrates the strong user base and active transaction volume of the TRON ecosystem. In addition, there has been a lack of a truly representative meme currency project in the TRON ecosystem, and the birth of SunPump has just filled this gap. This will not only help TRON create more wealth creation effects, but will also provide stronger support for TRON to launch new projects and build an ecosystem in the future.
Polymarket US presidential election: Kamala Harris surpasses Donald Trump in victory margin for the first time
The U.S. election is undoubtedly one of the most watched global issues this year. Various polls and predictions emerge one after another, becoming the focus of heated public opinion. With Biden withdrawing from the election, Donald Trump's probability of winning has gradually dropped from 70% to the current 46%, and even dropped to 44% at the lowest point. This change has triggered widespread discussion.
Against this background, Polymarket, as a popular Web3 prediction market, has attracted the participation of many users. Users can use cryptocurrency funds to predict various events on the platform. Compared with traditional polls, the results of this type of prediction market tend to be more accurate because users, driven by money, are more inclined to choose the outcome they think is most likely to happen. Therefore, these data have a high degree of reference value.
Since Biden withdrew from the election, the Democratic Party has actively paved the way for Vice President Kamala Harris, hoping that she can take over and become the next President of the United States. Compared with Biden, Kamala Harris is seen as a more advantageous candidate. However, questions remain as to whether this means she is the ideal leader. As a cryptocurrency user, we have spent the past four years witnessing the global economic downturn and the crackdown on cryptocurrencies by the Biden administration, of which Kamala Harris serves as Vice President. Although cryptocurrency is only a minor issue in the US election, it has deeply affected the views of the crypto community.
Regarding the US election, although I was unable to vote, I think the results of the election will greatly affect the status and development of cryptocurrency in the world. In the next three months, let us wait and see how candidates from both parties in the United States launch their canvassing offensive and how this election battle will develop.
