This week in review | ERC404 protocol "Pandora" saw a 30-fold increase in a single week; Merlin Chain mainnet launched.
BlockBeats will summarize the industry's key news content for the week (2.05-2.11) in this article, and recommend in-depth articles to help readers better understand the market and industry trends.
This Week's Important News Review
ERC404 protocol's first NFT project "Pandora" sparked heated discussion, skyrocketing over 30 times in a week
On February 6th, the ERC-404-based token series Pandora announced that assets, including PANDORA, LP ownership, and almost all valuable assets in the vault, have been transferred from the deployer's wallet to a new 2/4 multisig wallet. On February 7th, PANDORA surged over 10,000 US dollars, with a 35.6% increase in 24 hours. On February 8th, the ERC-404 project Pandora hinted at an airdrop. Influenced by the Pandora airdrop news, the ERC-404 concept rose across the board, with DEFROGS up 509% in 24 hours and ROCK up 20,044% in 24 hours. Related reading: ""Pandora's Box" soars nearly 30 times, is ERC-404 an innovative paradigm for NFTs?", ""Using Pandora as an example, interpreting how the ERC404 protocol promotes Ethereum NFT innovation", ""What is the recently discussed ERC404 protocol, and how will the representative project Pandora develop?""
Wormhole releases token economics: governance token W with a total supply of 10 billion, 17% of which will be allocated to the community
On February 8th, Wormhole released its token economics, with a total supply of 10 billion governance token W, and an initial circulating supply of 1.8 billion. 82% of W tokens will be initially locked and will be unlocked over a period of 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 the ecosystem and incubation projects, 11.6% to strategic network participants, and 23.3% to foundation reserves. Of the tokens allocated to the community, 11% will be unlocked during the TGE and will be distributed during the initial stage of the TGE, including airdrops (and related activities) related to the TGE. The snapshot for this airdrop was completed before the announcement was made.
Binance's 46th new coin mining project, Pixels (PIXEL), has been launched, and Dymension (DYM) will also be added with a seed tag.
On February 8th, Binance launched the 46th phase of its new coin mining project. Users can invest BNB and FDUSD into the PIXEL mining pool on the Launchpad website to receive PIXEL rewards starting from 08:00 on February 9th, 2024 (GMT+8). The mining period for PIXEL lasts for 10 days. Additionally, Binance will list Pixels (PIXEL) on February 19th, 2024 at 18:00 (GMT+8).
On February 6th, Binance will list Dymension (DYM) at 23:00 (GMT+8) and open trading pairs for DYM/BTC, DYM/USDT, DYM/FDUSD, and DYM/TRY. According to tests, Dymension (DYM) mainnet airdrop tokens can now be transferred and can be deposited into CEX. Users can add Dymension network configuration through the ChainList official website. Dymension officials stated that the mainnet will be launched soon and DYM tokens will be distributed to the Genesis Rolldrop address provided by users on the Dymension blockchain without the need for application.
RONIN Goes Live on Binance and Price Plummets, Binance Co-founder He Yi Responds to "RONIN Listing Information Leak"
On February 6th, after the RONIN listing announcement was released, the price of RONIN fell, wiping out all gains from the past two days, sparking intense discussion in the community. The community believes that this time Binance's internal "rat trading" behavior is too obvious. Binance co-founder He Yi stated that there have been occasional heated discussions about Binance's listing information leaks in the past, usually for projects that have not yet released tokens. It is not uncommon for the community to over-promote in order to maintain hype. After an internal investigation, it was found that the leak was due to the integration of public chains to help users retrieve tokens, which was detected by external parties. After careful consideration, appropriate adjustments will also be made internally.
Decentralized Social Protocol Farcaster Launches New Feature Frame, Regaining Popularity
Farcaster is a social protocol based on OP Stack built on Ethereum. Users can register with an Ethereum wallet. Recently, Farcaster launched a new feature in Frame, which includes an airdrop checker and a one-click gas-free NFT minting. On the user side, token airdrops on Faracaster further spread the wealth effect. On February 5th, Farcaster's client Warpcast ranked 38th in the social section of the APP Store download chart in the US, surpassing WeChat (41st). The total number of Farcaster users has exceeded 140,000, and the daily active users (DAU) have reached a historical high. On February 8th, Farcaster's ecosystem meme coin DEGEN broke through $0.005, with a 24-hour increase of 35%, reaching a historical high. Related reading: "Farcaster is hot again, which meme coins have been airdropped to users?"
Bitcoin Layer2 network Merlin Chain mainnet launched, TVL reached 543 million US dollars within 24 hours, becoming the Layer2 with the highest TVL on the first day
On February 5th, Merlin Chain, a Bitcoin Layer 2 network launched by Bitmap Tech (formerly Recursiverse), will become the first Launchpad project of Particle Network, a Web3 modular layer. It is reported that this People's Launchpad will be officially launched at 20:00 Beijing time on February 5th.
Pyth conducts second retroactive airdrop for over 160 dApps
On February 7th, Pyth Network announced the launch of the second phase of its retroactive airdrop program, which will focus on over 160 decentralized applications that use Pyth data. The first phase completed the distribution of PYTH tokens, covering DeFi participants from EVM to Cosmos, from Move to Solana, who interacted with these Pyth-driven applications. Active members of the Pyth community also received allocations. The second phase involves distributing PYTH tokens to over 160 decentralized applications that use Pyth data. These applications rely on Pyth's price data to ensure their protocol operations, typically used for trading, asset valuation, and on-chain settlement. Approximately 100 million PYTH governance tokens (worth about $47 million) will be distributed to dApps.
This Week's Popular Articles
"Pandora's Box" surges nearly 30 times, is ERC-404 an innovative paradigm for NFTs?
ERC-404 is a project that is easily overlooked at first glance. In fact, I personally believe that ERC-404 is the most interesting and liquidity optimization solution that has added the most possibilities to the NFT series so far, and it can even be said to be a paradigm innovation for NFTs. Let's take the Pandora's Box as an example to quickly understand the mechanism of ERC-404: The total amount of ERC-20 Token $PANDORA in Pandora's Box is 10,000. For every 1 $PANDORA purchased, you will automatically receive 1 Pandora's Box NFT. Of course, if selling causes the amount of $PANDORA held to be less than 1 (such as selling 0.5 $PANDORA), the held box will be automatically burned.
Recently, the decentralized social protocol Farcaster's largest frontend, Warpcast, has become the new darling of social media. Farcaster is not a new encryption concept, having completed a $30 million financing round led by a16z in 2022, with other notable investors including Coinbase Ventures, Multicoin Capital, and 1confirmation. The lively wealth creation effect and luxurious financing background have attracted increasing attention to Farcaster and its various clients, led by Warpcast.
Big Shots Say: How to Achieve "Small Goals" of 1 Million in a Bull Market?
This article invites 5 practical experts: Zhang Xiaoyu (a well-known hedge fund manager), Chen Jian (a Crypto investment research expert), Haotian (a former Amber researcher), Zhongbensuan (focused on mining opportunities in Solana, DePin, AI+ and other fields), and BTCdayu (a Web3 researcher). They each provide their opinions on 4 questions: 1. What was your most satisfying investment in the crypto industry in the past 23 years? The operation, logic, and gains. 2. Summarize the investment system in 5 minutes? The underlying framework for making money. 3. Where are the opportunities in the next 24 years? Which fields and areas are worth paying attention to? 4. With only 100,000 U, which coins can help you return to the top?
Privacy blockchain Aleo mainnet is about to go live, how to interact and win airdrops
L1 privacy blockchain Aleo is very different from public chains like Ethereum. Aleo uses zkSNARKs technology to achieve high scalability, supporting a large number of transactions without processing all data. The Aleo platform is programmable and uses the secure, private, and scalable smart contract programming language Leo. Previously, Aleo raised a total of $228 million in funding from investors such as a16z and Coinbase Ventures. Aleo announced that it will launch its mainnet in the coming weeks. In addition, Aleo will conduct an airdrop in the first quarter of this year. This article takes you through Aleo's interaction strategy.
以 Pandora 为例，解读 ERC404 协议如何推动以太坊 NFT 革新
Translation:
Using Pandora as an example, interpreting how the ERC404 protocol promotes Ethereum NFT innovation
Pandora is a next-generation decentralized ecosystem based on a dual-token DEX, launchpad, and NFT. Its token has been listed on Uniswap. The protocol solves the liquidity problem of NFTs and can be used to develop star card games and stake tokens for rewards. Cryptocurrency KOL rick awsb has analyzed this project on X and called it possibly the most important NFT protocol innovation on Ethereum in the past two years.
Tutorial｜Magic Eden airdrop is coming, how to get more ME diamonds?
On February 3rd, Magic Eden launched a "reward program" to distribute diamond airdrops to users who have previously used the 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 3:00 am on March 4th Beijing time. This reward program by Magic Eden is cross-chain and the rewards are traceable, which can reward historical activities on the platform. At the same time, holders of Magic Tickets will also receive rewards. Magic Tickets is an NFT series that grants access to MagicDAO.
开盘涨幅近 5 倍，星爷的 Nobody 系列能打破艺人 NFT 的「归零诅咒」么？
Translation:
Opening price increased nearly 5 times, can Stephen Chow's Nobody series break the "zero curse" of celebrity NFTs?
On February 1st, the NFT project Nobody NFT, which attracted attention from the community due to the participation of Stephen Chow, started minting at an initial issuance price of 0.19527 ETH. Within 48 hours, it received over 3192 ETH, which is over 172% of the total amount. After the minting deadline and NFT distribution, on February 5th, the floor price of Nobody NFT had surpassed 0.9 ETH, with an increase of 4.8 times, and the trading volume had reached 3287.16 ETH.
Recently, the frequently mentioned topic in the cryptocurrency market is Farcaster. As a social protocol built on OP Stack based on Ethereum, users can register with an Ethereum wallet. Its interface and functionality look similar to Twitter, but compared to traditional Web2 platforms, Farcaster emphasizes user control over data and allows social data to be transferred between different applications within its ecosystem.
WHALES price breaks $3, what surprises will Whales Market have?
With Whales Market, there is finally a good destination for the points in your account. And with new features constantly being released, Whales Market's empowerment is increasing. With the launch of staking and token buyback, Whales Market's TVL and token price have seen a significant increase in recent days. As of the time of writing, Whales Market's TVL has reached $42.46 million, and its native token WHALES is priced at $3, a 300% increase from the $0.75 price on January 30th when BlockBeats wrote about it. According to DEXSCREENER data, WHALES currently has a market value of $48.8 million and an FDV of approximately $300 million.
盘点 47 个 Restaking 项目，最终谁能杀出重围？
Translation:
Review of 47 Restaking Projects: Who Will Ultimately Come Out on Top?
2024, still waiting for the big market trend of "staking year". This article compiles a total of 47 projects, including 20 Ethereum restaking protocols and 7 full-chain LRT protocols. It also includes some other public chain restaking projects such as Cosmos, NEAR, Solana, and Bitcoin. The 46th project of Binance's new coin mining program is Pixels (PIXEL), which uses BNB and FDUSD for mining.
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