jakiro
Author: Avalon Finance, Pell Network, Bitcow, & Amp; More Source: Revelo Intel Translation: Good Ouba, Bitchain Vision Realm
In recent weeks and months, Bitcoin has declined as an asset status.EssenceMarket participants have been waiting for market leaders to break the historical high (ATH), but as of the second quarter of 2024, this goal has not yet achieved.The competition in the Bitcoin L2 field is heating up, and StarkNet announced that it will launch its own Bitcoin L2 named Catnet.The plan involves creating a customized test network that enables OP_CAT; this is an operating code. If it is not deleted in the early stage of BTC, it may have allowed Bitcoin to support smart contracts from the beginning.Babylon, a project providing Bitcoin pledge and pledge service, is getting more attention.The agreement is currently in the test network stage, and recently raised about $ 70 million from investors such as Paradigm.
Nevertheless, Bitlayer has attracted a lot of liquidity and users through its unique Bitvm embodiment.Regardless of the price trend of BTC, the growth of the Bitcoin ecosystem is still expanding, and Bitlayer played a leading role in this process.Since the first report of this emerging agreement a few weeks ago, Bitlayer has shown a considerable growth.The team has just attended the GM Vietnam Blockchain Week and will appear on ETHCC next month to actively promote their work and Bitvm theory.Bitlayer’s median gas costs are currently off the price of $ 0.4, and the total lock value (TVL) of the agreement has almost tripled, and it is currently about $ 354 million.This makes the agreement ranked second in the Bitcoin chain according to TVL.Bitlayer is second only to the Merlin chain, and the latter has doubled in TVL a day last month.The Bitlayer ecosystem has grown to more than 100 DAPPs.
Only a few weeks after Bitlayer’s launch, it has shown some impressive growth.The chain has exceeded 1 million transactions, and the peak of the activity is synchronized with BTC prices.In our last issue, we briefly introduced the Ready Player One Air Investment event. This is a developer and agreement team activity worth $ 50 million, of which $ 20 million is specially used in the list competition.Since then, Bitlayer has implemented a new $ 23 million Mining Gala event, which ended earlier this week.In today’s version, we will decompose some key cooperation projects participating in the event, which constitutes most of the Bitlayer total TVL, user foundation and activities.
Avalon finance
Avalon claims to be the first “CEDEFI” borrowing market.The protocol’s TVL on Bitlayer exceeds $ 120 million, and its native currency AVAF and ESAVAF can pledge to obtain agreement revenue and ESAVAF rewards.
The main product of the modular protocol on Bitlayer is its excess mortgage borrowing market. Users can deposit into the isolation pool for borrowing mortgages.Mainly and secondary tokens can be deposited, but only BTCs can be used as borrowing mortgages.At present, the borrowed WBTC is nearly $ 86 million, with a total deposit of about 180 million US dollars.The deposit can earn a 2 -fold volume, and the borrowing can earn 6 times the points.Therefore, the maximum borrowing limit of 1300 WBTC is almost full, and the utilization rate of funds is about 43%.The borrower can use a maximum of 60%of the loan value ratio (LTV), 85%of the liquidation ratio and 10%liquidation fine.Users can track the accumulation of points on the comprehensive ranking of the project.
Pell network
Pell Network’s TVL on BitLayer is about $ 95 million.Pell Network provides a series of services for the emerging BTC L2 market, including network security functions, blockchain operation infrastructure and income enhancement.Pell Network also involves BTC heavy pledge, which aims to diverse Bitcoin L2 revenue and enhance the security of these chains in the process.
On Bitlayer, users can “pledge” various assets to earn 15%of Pell points additional rewards.In addition to WBTC, the agreement also allows various BTC LSDs, of which STBTC accounts for most of Bitlayer TVL.Users can earn additional points through the first agreement, extend the deposit period, and some basic social interaction tasks.
In the background, Pell Network basically aggregates the native pledge income of Bitcoin and LSD income, and a network is created. The pledgee can choose to verify the newly constructed module in the ecosystem.
Bitcow
Bitcow is the third agreement on the Bitlayer according to TVL, about $ 35 million.BITCOW, as an AMM, provides stable exchange and centralized liquidity services.The agreement specializes in the expanding Bitcoin L2 ecosystem.In its V1 version, BITCOW provides stable exchange services for stable currency and LSD assets, while maintaining the lowest gas use and maximizing capital efficiency.The balanced price will also be adjusted over time to adapt to the gradual appreciated LSD assets.
Bitcow’s V2 version focuses on the concentrated liquidity of fluctuations on transactions.Functions include automatic pricing, 0 IL and transparent profit and loss information.The automatic pricing is achieved by using external prediction machines, so that concentration liquidity no longer needs to manage the price range.All the liquidity of the given assets is automatically concentrated around the price determined by the prophecy machine.This compromise allows LP to obtain higher returns, while eliminating the needs of the LP management agreement and the complexity of centralized liquidity.
In its V2 version, Bitcow also adopts a dual -profile LP solution. One pair of volatile assets in the pair, and the other pair of stable coins in the pair.This gives the volatile token LP holders the right to obtain the equity of their assets when value -added or depreciation.Instead, the holder of the stablecoin LP will keep the market neutral and obtain transaction revenue from the opposite side.In addition, the Trumeme function of the protocol allows users to create their own MEME coins on the test network and provide initial liquidity.
