MEKE may help opBNB gain a leading edge in the CEX Layer 2 race.

Source: MEKE

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On July 30th, a meme coin called BALD was deployed on Coinbase L2 network BASE and started trading on LeetSwap. Overnight, this meme coin with no real-world application saw a thousand-fold increase in value, causing BASE TVL to triple to over $60 million.

Although BALD was removed from the liquidity pool shortly after its launch, this incident had a huge impact on the traffic and influence of BASE. Whether it was intentional by Coinbase or unintentional by other personnel, there is no doubt that this event marked the first shot in the battle for L2 networks among trading platforms.

Feeling the pressure from the popularity of the BASE chain is none other than the global leading exchange platform, Binance. Coinbase and Binance are the two most important exchange platforms in the entire cryptocurrency world, occupying more than half of the global market share. They compete with each other in business and users in the crypto world often compare their business capabilities. Coinbase and Binance are like two powerful lion prides on the African savannah, competing with each other and guarding against each other. Once one side moves, the other side will prepare for battle.

Shortly after the explosion of BASE, the BNB Chain team announced on August 2nd that the BNB Chain Layer2 opBNB will soon be launched on the mainnet. It is obvious that this is a challenge from Binance to Coinbase, and also a war between the two major trading platforms, L2 opBNB and BASE.

MEKE is a chain-based derivative trading platform developed by a team from the United States. It can be used to trade perpetual contracts for various mainstream cryptocurrencies such as BTC and ETH. In the future, it also plans to trade futures for physical assets such as gold, oil, and US bonds. MEKE will initially focus on trading cryptocurrency derivatives, but plans to enter the RWA market with trillions of dollars in assets in the future.

As early as 2021, during the DeFi Summer, MEKE began its research and development. With the ultimate pursuit of trading, and to allow global cryptocurrency traders to experience decentralized trading similar to centralized perpetual contracts, the MEKE team spent more than two years polishing the product before launching it to the market, and ultimately locked it on the Binance Layer2 network opBNB.

As a decentralized on-chain derivative trading protocol, user traffic and product experience are the lifeblood of the entire product. opBNB, as the hope of Binance's ecological L2, is supported by the huge traffic background of Binance on the one hand, and has high concurrency, fast processing capability, and extremely low gas fees on the other hand. The block time of this network is 1 second, and the gas fee for transfer is as low as $0.005. The transaction processing capacity (TPS) exceeds 4000 per second, and the performance has surpassed existing expansion solutions.

Considering the above factors, MEKE chose to deploy on opBNB. Due to MEKE's strong performance and huge market potential, as well as being one of the first applications to be launched on opBNB, MEKE has gained attention from cryptocurrency enthusiasts worldwide. Global blockchain media Cointelegraph has also reported on MEKE.

Currently, MEKE has been deployed on the opBNB testnet and has passed a security audit by the globally renowned auditing firm Certik. The first phase of MEKE's public beta testing began on July 31st and has already driven a rapid increase in trading volume on the opBNB testnet.

This testing activity will end on August 10th.

If BALD is the vanguard of BASE L2, then it can only be considered as scattered soldiers with loud thunder and little rain. MEKE, on the other hand, as the vanguard of opBNB, is more like a well-equipped special forces unit. After all, compared to meme coins with no practical application, MEKE has rigorous token economics and value support. In the cryptocurrency derivatives trading market, which has a daily trading volume of nearly hundreds of billions of dollars, MEKE, as a leader in the cryptocurrency derivatives trading platform, has enormous market potential.

On July 31st, Binance founder CZ stated in an AMA that there are many interesting areas in the crypto world, and Binance plans to invest heavily in these areas, with DeFi being one of them. On August 2nd, BNB Chain released an article titled "opBNB, from testnet to mainnet".

The Chain team has mentioned that they will strongly support developers in developing valuable projects on opBNB, and MEKE may be one of them.

MEKE's first public beta is progressing rapidly, and according to incomplete statistics, its interactive wallet address has exceeded tens of thousands. This is not only due to MEKE's own market influence, but also to the rewards MEKE brings to participating users. Similar to early participants in projects such as DYDX, Optimism, and Arbtirum, they have received considerable feedback from it. Currently, MEKE may have become the primary target for participants in the OpBNB ecosystem. MEKE's platform token issuance is limited, and the platform has designed a unique issuance mechanism. The earlier you participate, the more benefits you will receive, and the benefits will gradually decrease later on.

MEKE's first public beta will end on August 10th. For more information, please long press to copy or click to enter the MEKE official community:

Official website: https://meke.io

Telegram: https://t.me/MEKE_Club

Discord: https://discord.gg/meke

Twitter: https://twitter.com/MEKE_PROTOCOL

This article is from a submission and does not represent the views of BlockBeats. Participation in the new ecosystem should be cautious, and users should handle their personal assets properly.  

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