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Apart from the skyrocketing AUCTION, what other "golden shovels" are worth paying attention to in the market?

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The prosperity of the bull market largely depends on two main factors, the influx of external capital and the strengthening of internal capital leverage. Influential financial entities like BlackRock play a key role in driving external capital, especially as the expected launch of a Bitcoin spot ETF may change the game rules of the crypto market.

In 2020, benefiting from the innovative promotion of DeFi Summer, a group of CEX successively launched the "new coin mining" function, which combines IEO with DeFi liquidity mining. When a new project is launched on CEX, users no longer need to "spend money" to grab the subscription, but can obtain new assets by staking the assets specified by the trading platform. Compared with spot trading, the cycle of listing new coins is shorter, and the investment return rate is more amazing. Therefore, platform coins were once known as the "golden shovel" for obtaining new assets.

Later, innovative DeFi applications such as LSD and Restaking emerged on Ethereum, but there has yet to be a large-scale financial application in the Bitcoin ecosystem. Currently, Mingwen has successfully entered the secondary market from the primary market, and the next step is to consider how to continue to empower the financial infrastructure of the Bitcoin ecosystem with the market heat of Mingwen.

BlockBeats has compiled a list of new "golden shovels" in the current market, which are currently injecting capital leverage into the cryptocurrency industry, especially the Bitcoin ecosystem.

Bitcoin Ecology "Golden Shovel"

Bounce Brand（AUCTION）

Bounce Brand (formerly Bounce Finance) is a decentralized auction protocol that integrates liquidity mining, decentralized governance, and staking mechanisms to provide users with the ability to create and participate in various types of auctions on multiple blockchain networks.

On November 12th, Bounce Brand completed the Launchpad of the bridging protocol MultiBit (MUBI), with an IDO unit price of $0.00047 and a fundraising of 88 ETH, during which the return exceeded 80 times. On November 29th, Bounce Brand launched the public sale of the Bitstable project token BSSB, a cross-chain DeFi protocol based on Bitcoin. On December 4th, BSSB broke through $1.6, with a 24-hour increase of 89.58%, reaching a historical high.

These two successful token auctions have made the crypto community aware that Bounce is well-prepared. On December 1st, Bounce Brand launched BounceBit, a DeFi solution designed for the Bitcoin ecosystem, which will be powered by AUCTION and based on Binance Bitcoin (BTCB). BTCB is a BEP2/BEP20 asset that is pegged 1:1 to Bitcoin and locked on the Bitcoin blockchain, allowing Bitcoin holders to participate in the DeFi ecosystem while maintaining their Bitcoin investments.

On December 15th, Bounce Brand launched a new round of the Launchpad project for BDID, a DID service platform on BTC L2. There are three participation modes: using AUCTION to purchase lottery tickets for a chance to win, using AUCTION to stake and receive proportional allocation, and using stablecoin DAII to stake and receive proportional allocation. After the auction, BDID was listed on Uniswap and its DEX trading volume exceeded $12 million.

Today, Bounce Brand announced that Bounce Launchpad will soon adopt a "kill two birds with one stone" strategy to launch a token issuance, with two independent teams jointly issuing a token. The project's identity is confidential and will participate using AUCTION and BitStable's stablecoin DAII, with two auction pools. As a result of this news, the price of AUCTION has risen significantly, with a 24-hour increase of 47.5%, and the coin price is currently at $37.82 at the time of writing.

TurtSat（TURT）

TurtSat plays a similar role to Bounce Brand as a newly emerged asset issuance platform. It is a community-driven open platform led by Ordinals, with a mission to become the Gitcoin of the Ordinals world. Anyone can build and donate to the Ordinals ecosystem protocol through Turtsat, participate in the ecological construction of Ordinals, and benefit from it. Its native token is TURT.

Since its launch, the TurtSat platform has launched multiple projects (such as the BRC 20 asset protocol CHAX, the BRC 20 cross-chain bridge MUBI, the Ordinals aggregation platform NHUB, the Ordinals lending platform DOVA, and the Bitcoin ecosystem gaming platform RAIT). These projects are all early BRC 20 infrastructure construction platforms and have performed well after their launch.

In early December, TurtSat announced the launch of its staking system, TURT POOL. According to TurtSat, this will be a new way for users to participate in projects on the TurtSat platform, balancing fairness and efficiency, while effectively preventing robots from using scripts to plunder large amounts of donated shares, allowing TURT holders to participate and receive their rightful benefits.

After the user completes TURT staking, TURT POOL will record the staked token amount and staking time (block confirmation time/network confirmation time) of the corresponding address in real time, and calculate and release EGGS in real time. EGGS is a new asset issued by TurtSat, and its application scenarios include but are not limited to project launch voting, direct exchange for cooperative token gift packages, and perhaps in the future, EGGS will become an important way to exchange for new project whitelist quotas.

BitStable（BSSB）

BitStable (BSSB) is a decentralized asset protocol based on the Bitcoin network, allowing anyone to generate DAII stablecoins collateralized against assets within the Bitcoin ecosystem through the platform from anywhere. BitStable features a dual-token system and cross-chain compatibility structure, with its tokens being DAII and BSSB.

DAII is a USD stablecoin issued by BitStable, with a total supply of 1 billion. Users can obtain DAII by staking ORDI or MUBI on the BitStable official website, and the project team has also issued some DAII on Ethereum, which can be purchased directly.

As BitStable achieved great success on Bounce's Launchpad, DAII has also become more involved in other related projects on Bounce. As mentioned earlier, staking DAII is one of the options for participating in the BDID Launchpad on Bounce, and the latest round of Launchpad on Bounce also allows for participation by staking DAII.

BSSB is the governance token of the platform, which the community uses to maintain the system and manage DAII. BitStable also incentivizes BSSB holders through dividends and other measures. The total supply of BSSB is 21 million, of which 50% will be publicly sold on Bounce Finance. The team will hold 5% of BSSB (locked for 6 months and linearly unlocked for 15 months), airdrop quota will account for 3.5%, staking rewards will account for 36.5%, and LP will account for 5% (locked indefinitely).

MultiBit（MUBI）

MultiBit is a bridging protocol that appeared in May of this year to connect BRC20 assets to the EVM network, allowing users to seamlessly transfer tokens between the ETH chain, BNB chain, and BTC network.

MultiBit simplifies the token transfer process between the BRC20 and EVM networks of Bitcoin. First, users transfer BRC20 tokens to a dedicated BRC20 address. Once confirmed, the Multibit protocol begins to operate, minting an equivalent amount of tokens on the Ethereum or Binance Smart Chain. The Multibit Protocol collects tokens from all distributed unique addresses, which are securely transferred to a unified cold wallet. When users need to withdraw tokens, the Multibit Protocol will destroy the corresponding number of tokens from the EVM chain and transfer the equivalent tokens from the secure cold wallet to the user.

MultiBit completed its IDO auction on Bounce Brand on November 12th, raising 88 ETH. On November 4th, it completed another IDO on TurtSat at the same unit price, raising 4.64 BTC. The total amount raised in both auctions was approximately $350,000.

Its native token MUBI has increased by 43.7% in the past 24 hours, with a price of $0.323 at the time of writing. MultiBit users who stake MUBI tokens not only have governance rights, but can also earn rewards in the form of ERC20 or BRC20 tokens on the MultiBit platform.

Solana Saga Phone

Other than the traditional "golden shovels" mentioned above, there is another unexpected shovel that has appeared, which is the Web 3 phone Saga launched by Solana Labs.

The Saga phone was initially launched on May 8, 2022, at a price of $1000, positioned as the flagship Android phone for the Solana ecosystem. This phone has 512 GB of storage, two rear cameras, a 6.67-inch OLED display, and fingerprint unlocking. More importantly, it has a dApp Store specifically for encrypted applications and a secure element for storing the private keys of encrypted users, separating this sensitive data from other data on the phone. On August 10, the Saga phone announced a price drop from $1000 to $599.

Until recently, the MEME token Bonk based on Solana has skyrocketed, and every Solana Saga phone is entitled to receive up to 30 million BONK token airdrops, which have surged 500% in premium on eBay and are selling for as high as $3,000.

On December 17th, Kyle Samani, co-founder of Multicoin Capital, stated on social media that he expects Solana phone Saga owners to receive a large number of airdrop activities within the next 12 months. Yesterday, the Solana ecosystem Meme project Samoyedcoin announced that it will distribute SAMO tokens to Saga phone holders through an airdrop, but specific details of the airdrop have not yet been announced.