Review of this week|ERC404 protocol “Pandora” increased 30 times in a single week; Merlin Chain mainnet launched

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BlockBeats will sort out the key industry news contents of the week (2.05-2.11) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.

Important news this week

The first NFT project of the ERC404 protocol "Pandora" sparked heated discussions and surged more than 30 times in one week

On February 6, Pandora, an ERC-404-based token series, said it had transferred assets from the deployer wallet to the new 2/4 multi-signature wallet. Assets include PANDORA, LP ownership, and virtually everything of value currently in the vaults. On February 7, PANDORA rose above $10,000, with a 24-hour increase of 35.6%. On February 8, the ERC-404 project Pandora issued a document suggesting that it might conduct an airdrop. Affected by the Pandora airdrop news, the ERC-404 concept generally rose. Among them, DEFROGS increased by 509% in 24 hours; ROCK increased by 20,044% in 24 hours. Related reading: "Pandora's Box" surged nearly 30 times. Is ERC-404 a paradigm innovation for NFT? " , "Take Pandora as an example, explain how the ERC404 protocol promotes Ethereum NFT innovation" , " What is the recently hotly discussed ERC404 protocol, and how will the representative project Pandora develop?

Wormhole releases token economics: The total supply of governance token W is 10 billion, 17% will be allocated to the community

On February 8, Wormhole released token economics. The total number of governance tokens W is 10 billion, and the initial circulating supply is 1.8 billion. 82% of W tokens will be locked initially and will be unlocked over four years according to the token release plan. Among them, 5.1% will be allocated to guardian nodes, 17% to the community, 12% to core contributors, 31% to ecosystems and incubation projects, 11.6% to strategic network participants, and 23.3% to foundation reserves. 11% of the tokens allocated to the community will be unlocked in TGE and will be distributed during the initial phase of TGE, including TGE-related airdrops (and related activities). A snapshot of this airdrop was taken prior to the announcement.

Binance has launched the 46th phase of new coin mining project Pixels (PIXEL) and will list Dymension (DYM) and add a seed tag to it

On February 8, the 46th phase of Binance’s new currency mining project was launched. Users can invest BNB and FDUSD into the PIXEL mining pool on the Launchpad website after 08:00 on February 9, 2024 (East Eighth District time) to obtain it. PIXEL rewards, PIXEL can be mined for a total of 10 days. In addition, Binance will list Pixels (PIXEL) at 18:00 on February 19, 2024 (Eastern Eighth District time).

On February 6, Binance will list Dymension (DYM) at 23:00 on February 6 (Eastern Eighth District time), and open the DYM/BTC, DYM/USDT, DYM/FDUSD, and DYM/TRY trading pairs. After testing, the Dymension (DYM) mainnet airdrop tokens can be transferred and can be recharged into CEX. Dymension network configuration can be added through the ChainList official website. Dymension officials stated that the mainnet is about to be launched, and DYM tokens will be allocated to Genesis Rolldrop addresses provided by users on the Dymension blockchain without the need to apply for them.

The price of RONIN plummeted after being listed on Binance. Binance He Yi responded to the "RONIN listing information leakage incident"

On February 6, the price of RONIN dropped after the announcement of RONIN listing, erasing all gains in the past two days. It triggered heated discussions in the community. The community said that Binance’s internal “rat warehouse” behavior was too obvious. Binance co-founder He Yi said that in the past, there have occasionally been heated discussions about the leakage of Binance currency listing information, usually for projects that have not yet released tokens. It is not uncommon for the community to over-promote in order to maintain popularity; after an internal investigation, it was found that it was a previously integrated public company. The chain retrieves tokens for users and is detected externally and collected on the chain. After careful consideration, corresponding adjustments will be made internally.

Decentralized social protocol Farcaster launches new features of Frame, gaining popularity again

Farcaster is a social protocol built on Ethereum based on OP Stack. Users can register with an Ethereum wallet. Recently, Farcaster has launched a new feature of Frame, which has a built-in airdrop checker and one-click gas-free NFT casting in the cast. On the user side, the token airdrop on Faracaster further spreads the wealth effect. On February 5, Farcaster client Warpcast temporarily ranked 38th in the APP Store social section download rankings in the United States, surpassing WeChat (41st). The total number of Farcaster users has exceeded 140,000, and the daily active users (DAU) activity Volume hit a record high. On February 8, the Farcaster ecological meme currency DEGEN exceeded US$0.005, with a 24-hour increase of 35%, reaching a record high. Related reading: "Farcaster is hot again, which meme coins have been airdropped to users?" 》

The TVL of the Bitcoin Layer 2 network Merlin Chain’s mainnet reached US$543 million within 24 hours of its launch, becoming the highest Layer 2 TVL on the first day.

On February 5, the Bitcoin Layer 2 network Merlin Chain launched by Bitmap Tech (formerly Recursiverse) will become the first Launchpad project of the Web3 modular layer Particle Network. It is reported that People's Launchpad will be officially launched at 20:00 on February 5, Beijing time.

Pyth conducts second round of retroactive airdrops for over 160 dApps

On February 7, Pyth Network announced the official launch of the second phase of its retroactive airdrop plan, which will focus on more than 160 decentralized applications using Pyth data. The first phase has completed the distribution of PYTH tokens, covering DeFi participants from EVM to Cosmos, from Move to Solana, who interact with these Python-driven applications. Active members of the Pyth community also received allocations. The second phase involves the distribution of PYTH tokens to more than 160 decentralized applications that use Pyth data. These applications rely on Pyth's price data to ensure their protocol operations, usually for trading, asset valuation, and on-chain settlement. Approximately 100 million PYTH governance tokens (valued at approximately $47 million) will be distributed to dApps.

Popular articles this week

"Pandora's Box" has surged nearly 30 times. Is ERC-404 a paradigm innovation for NFT?

ERC-404 is a project that is easily overlooked at first glance. In fact, I personally think that ERC-404 is the most interesting liquidity optimization solution so far and adds the most possibilities to the NFT series. It can even be said to be a paradigm innovation of NFT. Let’s take Pandora’s Box as an example to quickly understand the mechanism of ERC-404: The total amount of Pandora’s ERC-20 Token $PANDORA is 10,000. For every $PANDORA you buy, you will automatically get 1 Pandora’s Box. NFT. Of course, if the sale results in less than 1 $PANDORA in hand (for example, I sold $PANDORA for 0.5), the box held will be automatically burned.

The most complete guide to Warpcast|The entire Crypto circle is registering, how can newcomers play with this "crypto Alpha social application"?

Recently, Warpcast, the largest front-end of the decentralized social protocol Farcaster, has recently become a new social darling. Farcaster is not a new thing in encryption. In 2022, it completed a US$30 million financing led by a16z, with investors including Coinbase Ventures, Multicoin Capital, 1confirmation and other well-known names. The lively wealth creation effect and luxurious financing background have attracted more and more attention to Farcaster and its clients headed by Warpcast.

The big guy said: 1 million, how to achieve the "small goal" in the bull market?

This article invites 5 practical experts: Zhang Xiaoyu (a well-known hedge fund manager), Chen Jian (a strong Crypto investment researcher), Haotian (former Amber researcher), and Nakamoto Suan (focusing on exploring opportunities in Solana, DePin, AI+ and other tracks) , BTCdayu (Web3 researcher). They output their opinions around 4 questions: 1. What is the most satisfying investment in the crypto in 23 years? Operation, logic, harvest. 2. Quickly summarize the investment system in 5 minutes? The underlying framework for making money. 3. Where are the opportunities in 2024? Which tracks and areas deserve attention? 4. With only 100,000 U, which coins can help you get back to the top?

Privacy public chain Aleo’s mainnet is about to be launched, how to interact to win airdrops

The L1 privacy public chain Aleo is very different from public chains such as Ethereum. Aleo uses zkSNARKs technology to achieve high scalability and can support a large number of transactions without processing all data. The Aleo platform is programmable and uses the security, privacy and scalability smart contract programming language Leo. Aleo has previously received a total of US$228 million in financing from investors such as a16z and Coinbase Ventures. Aleo announced that it will launch on the mainnet in the next few weeks. In addition, Aleo will be airdropped in the first quarter of this year. This article will give you an overview of Aleo’s interactive strategy.

Take Pandora as an example to explain how the ERC404 protocol promotes Ethereum NFT innovation

Pandora is a next-generation decentralized ecosystem based on dual-token DEX, launch platform and NFT, and its tokens have been listed on Uniswap. This protocol solves the liquidity problem of NFT and can be used to develop star card games and stake tokens to obtain rewards. Crypto KOL rick awsb analyzed this project on X and said that it may be the most important NFT protocol innovation on Ethereum in the past two years.

Tutorial|Magic Eden will be airdropped soon, how to get more ME diamonds?

On February 3, Magic Eden launched a "reward program" to issue diamond airdrops to users who have used Phantom or Phantom List On ME functions on Magic Eden, and new users can also participate in diamond tasks to obtain diamonds. The deadline for diamond collection is 3 a.m. Beijing time on March 4. Magic Eden’s reward program will be cross-chain, and the rewards will be retroactive and can reward historical activities on the platform. At the same time, Magic Tickets holders will also receive rewards. Magic Tickets are a series of NFTs that grant access to MagicDAO.

The opening price increased nearly 5 times. Can Xingye’s Nobody series break the “return to zero curse” of artist NFTs?

On February 1, Nobody NFT, an NFT project that has attracted much attention from the community due to Stephen Chow's participation, started casting at an initial issue price of 0.19527 ETH. It received more than 3,192 ETH within 48 hours, and the total amount of disbursement exceeded 172%. After the casting deadline and NFT distribution was completed, the floor price of Nobody NFT exceeded 0.9 ETH on February 5, an increase of 4.8 times, and the transaction volume reached 3287.16 ETH.

Smart Layer tokens are about to be released, how to get SLN airdrop points?

Generally speaking, the Web3 community's understanding of Token mainly revolves around its "asset attributes", but now, after Smart Layer assigns "functional services" to tokens, the concept of "programmable assets" gives tokens More room for imagination. In Smart Layer, users have all the rights to call and use "smart tokens" and can access various third-party services through them. By transforming tokens from simple asset attributes into functional tokens, smart tokens not only improve asset scalability but also bring new development paths to Web3 games, loyalty programs and other fields. BlockBeats will introduce you to Smart Layer and its airdrop tutorial in this article.

Risks and best operating practices of EigenLayer re-staking

With the rise of Restaking, more Eigenlayer-based Restaking projects have appeared on the market. Restaking is intended to share the user's pledge share with other projects by sharing the trust of the Ethereum Beacon pledge layer, allowing users to gain more benefits while allowing other projects to enjoy the same consensus trust and security as the ETH Beacon layer. . In order to help everyone better understand the interaction risks between different Restaking projects, the Cobo security team conducted research on the mainstream Restaking protocols and mainstream LST assets on the market, and sorted out the related risks, so that everyone can enjoy the benefits while Can better control corresponding risks.

Farcaster is hot again. Which meme coins have been airdropped to users?

In the past week, a frequently mentioned topic in the encryption market is Farcaster. As a social protocol based on OP Stack built on Ethereum, users can register with an Ethereum wallet. Its interface and functionality look similar to Twitter, but compared with traditional Web2 platforms, Farcaster emphasizes user control over data and allows social data to be transferred between different applications within its ecosystem.

The price of Whales exceeds US$3, what other surprises will Whales Market have?

With Whales Market, the points in your account finally have a good home. With the continuous introduction of new features, Whales Market is becoming more and more empowered. With the launch of the staking function and the launch of token repurchase, Whales Market's TVL and currency price have experienced significant increases in recent days. As of the time of writing, the TVL of Whales Market reached US$42.46 million; the price of its native token WHALES was US$3, an increase of 300% from US$0.75 when BlockBeats wrote this article on January 30. According to DEXSCREENER data, WHALES currently has a market value of US$48.8 million and an FDV of approximately US$300 million.

Taking stock of 47 Restaking projects, who can finally break through?

2024 is still a big market away from the prediction of “Pledge Year”. This article compiles a total of 47 projects, including 20 Ethereum Restaking protocols and 7 full-chain LRT protocols. We also sorted out some other public chain Restaking projects such as Cosmos, NEAR, Solana, and Bitcoin. Binance launches the 46th phase of new currency mining project, using BNB and FDUSD to mine Pixels (PIXEL)

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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