DODO #Megascope brings you this week’s Highlights:
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Fantom Gas Monetization is live
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What is Pulse chain?
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DeFi Project Analysis: iZUMi Finance & Pika Protocol
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Data Check：Multichain Force Majeure
👀 Weekly Digest
DeFi
Fantom Gas Monetization is live
Overview of Gas Monetization
The Gas Monetization program on Fantom aims to provide high-quality dApps with a sustainable income, this program offers dApps a 15% share of the gas fees they generate. Fantom Foundation hopes to foster an active builder ecosystem similar to the advertising revenue model on traditional Web2 network platforms through Gas Monetization.The reward is made possible by a decrease in the burn rate of FTM from 20% to 5%
Fantom Gas Monetization is live
Fantom Foundation is collaborating with the projects that meet the following two participation criteria.
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Completed at least 125,000 transactions
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Been live on Fantom for at least 3 months
Currently, the following four projectsAdvantages and Risks have already received FTM rewards, but the program has not yet opened the application process to the public.
Advantages and Risks
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Ecosystem is an important resource for the blockchain, this measure will effectively retain ecosystem developers.
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Once applications are opened to the public, maintaining fair judgment standards will be a significant challenge.
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As the rewards come from tokens that would have originally been burned, how the projects that receive the FTM rewards use these funds will continue to be a focus of attention for FTM holders.
What is Pulse chain?
Overview of Pulse chain
Pulsechain mainnet is officially live on 5/12 Eastern Time. It is a blockchain that forks Ethereum, which means it contains all previous transaction records of Ethereum. After going live, its Total Value Locked (TVL) ranks ninth according to Defillama data, outperforming well-known blockchains like Solana, Fantom, and others. The daily on-chain transaction volume is as high as $117M USD according to Dexscreener data, ranking fourth, only behind the Ethereum mainnet, Binance Smart Chain (BSC), and ETH L2 Arbitrum.
Team Background
The founder of PulseChain, Richard Heart, is a U.S. cryptocurrency entrepreneur with a high Twitter following of 320k. He is also the founder of HEX and an early investor in Ethereum. His previous project, HEX.com, achieved a 10000x fold return from 2019-2021, which has made Richard Heart quite well-known. Therefore, when he announced that he would raise funds for PulseChain, the final amount reached an astonishing $13.7 billion (of which $13.5 billion was in $HEX).
Opportunities and Risks
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Pulse chain, with strong support from the HEX community behind it and the promotional tactics employed by its founder RH, has gained a large number of users shortly after its launch.
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Since Pulse Chain is a fork of Ethereum, all tokens and protocols on Ethereum exist on the Pulse Chain, presenting many opportunities for arbitrage trading.
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According to data from Plsburn.com, the market capitalization of token is 19B. Comparing it with data from Coingecko shows that its market capitalization ranks sixth, only behind Ripple. Additionally, given the extreme concentration of $PLS holdings, serious centralization issues in nodes and official bridges, holding $PLS carries a great risk.
Project Analysis：iZUMi Finance
iZUMi Finance is a cross-chain DeFi protocol that provides a one-stop liquidity service (LaaS). It is currently launched on eight public chains including Ethereum's second layer network Arbitrum and ZK Era. It is also one of the few protocols that prioritized deployment on the ZK Era mainnet, and it currently holds a close second place on ZK Era with a TVL of nearly $25M.
Key Features
iZUMi Finance provides the following three products:
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LiquidBox enhances reward efficiency, allowing protocols to distribute rewards within a specific price range. It also offers a solution to the "pool 2 problem" by providing structured rewards and an automatic reconstitution module, attracting more liquidity and benefiting the protocol at a lower issuance rate, while providing liquidity mining for liquidity providers with impermanent loss.
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iZiSwap, using the innovative Discretized-Liquidity-AMM (DL-AMM) model. Its features include the ability to concentrate liquidity to give users better depth and provide efficient on-chain liquidity for Web3 assets. In addition, iZiSwap Pro also offers a limit order book function and provides DEX users with a CEX-style trading experience.
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iUSD and iZUMi Bond bring stable fixed income to on-chain investors, offering a high-yield grade fixed income investment product that combines the convertible bond product model of traditional finance (TradFi).
Project Analysis : Pika Protocol
Pika Protocol is a perpetual trading platform deployed on the ETH L2, Optimistic Chain, offering users up to 100x leverage for trading cryptocurrencies, foreign exchange, and other pairs. The protocol has been online for nearly two years and has just completed its token fundraising campaign, raising about 4363 ETH in total. With a launch fully-diluted valuation (FDV) of 72 million, it brings vitality to the recently subdued Optimistic ecosystem.
Key Features
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High leverage: Supports up to 100x leverage.
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Low slippage: Uses oracle quotation mechanism, so the slippage of all trading pairs is almost zero.
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Trade various assets: Including cryptocurrencies and forex, currently up to 27 trading pairs.
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Low fees: Established on the second layer of Ethereum, resulting in low gas fees.
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Simple experience: Swap directly from your wallet, without any need for deposits
Datacheck
https://twitter.com/DodoResearch/status/1663395349237727232?s=20
🚄 Bullet News
DeFi
- Jimbo suffered a hacker attack and lost 4090 ETH, approximately $7.5 million. Jimbos Protocol is an experimental protocol deployed on Arbitrum for "reactive concentrated liquidity." The main token launched by Jimbos Protocol, $JIMBO, aims to regularly rebalance the liquidity of the protocol under different circumstances to improve capital efficiency. According to PeckShield, the attack was due to a lack of slippage control in liquidity transfer operations, causing the protocol's liquidity to be invested in a skewed/unbalanced price range, which was exploited for reverse exchanges to obtain profits.
Market
- Web3 GameFi project Mahjong Meta is reportedly about to complete a new round of financing. The main investor is Folius, along with angel investors. The total financing amount is expected to exceed $10 million. Other investors include Meteorite Labs, Parallel Ventures, and more.