DODO #Megascope brings you this week’s Highlights:

1. Linea Mainnet Alpha Released

2. Worldcoin Token Launched

3. Chainlink CCIP Officially Launches on Mainnet

4. Data Check : TG Bot Data

👀 Weekly Digest

Linea Mainnet Alpha Released

Following BitDAO's Mantle, another highly anticipated Ethereum Layer 2 solution, Linea , has officially launched on the mainnet. Developed by ConsenSys, the parent company of Metamask wallet, Linea also made the significant announcement at the Paris Ethereum Community Conference (EthCC). Its mainnet alpha version was released on July 18th, allowing all users to experience the platform.

Features of Linea

Linea is a Layer 2 zkEVM (Zero-Knowledge Rollup Ethereum Virtual Machine) solution that is compatible with the Ethereum Virtual Machine (EVM) and utilizes zk-Rollup technology. It is the third public chain to officially launch on the mainnet using zkEVM technology, following zkSync Era and Polygon zkEVM.

Key features of Linea include:

1. High Compatibility: Linea is a Type2 zkEVM, which means it is bytecode-level equivalent to the EVM. This type of zkEVM aims to be fully compatible with existing Ethereum applications, with only minor modifications to the Ethereum network to make development easier and proof generation faster. Internally, Linea operates exactly like Ethereum, but it may have some differences in data structures, such as block structure and state tree.

2. Robust Infrastructure Support: Benefiting from its parent company ConsenSys' resources, Linea has native integration with infrastructure tools like Infura, MetaMask, and Truffle. Builders can easily attract users using the MetaMask wallet and leverage Infura's user-friendly API to develop and deploy dapps more quickly. Additionally, developers can use popular developer environments like Truffle, Hardhat, Foundry, and Brownie to build, test, debug, and deploy their Solidity smart contracts. Ganache and Diligence are compatible with Linea, supporting local code testing and auditing, respectively.

Linea Ecosystem

Linea, although currently lacking an ecosystem incentive or ecosystem fund, has generated high expectations from the community due to its parent company ConsenSys' strong background and financing capabilities.

Many protocols have expressed their intention to build development projects on Linea, and the high compatibility of Linea has led to the deployment of mostly multi-chain protocols.

The native protocols mainly consist of decentralized exchanges (DEXs) as the foundation. Here are some of the projects already deployed on Linea:

• HorizonDEX: A native DEX on Linea, currently having the highest TVL (Total Value Locked). It has deployed multiple pools related to cBridge bridged tokens and offers a trade-to-earn points program.

• SyncSwap: A top DEX on zkSync Era, also an early deployer on Linea. The anticipation of a potential airdrop due to the absence of a native token has attracted many liquidity providers.

• iZUMi Finance: A multi-chain deployed DEX and LP management protocol. It has already deployed iZiSwap to provide DEX services on Linea.

• EchoDEX: The first native DEX and exchange aggregator to go live on Linea, currently ranked fourth in terms of TVL among Linea DEXs.

• LineaBank: A native lending protocol that uses the xToken model to maximize borrowing yields. As Linea has not yet launched an ERC-20 token bridge, the protocol currently offers services only for ETH assets.

Other projects worth keeping an eye on include:

• AAVE: A DeFi infrastructure protocol that would certainly be of interest if it chooses to deploy on multiple chains, including Linea.

• Tifo.trade: A native ve3,3 model DEX on Linea, along with a derivatives perpetual contract exchange.

• Peko Protocol: A native lending protocol on Linea, claiming to be the first to introduce an innovative Dynamic Collateral Factor (DCF) mechanism to maximize capital efficiency.

Worldcoin Token Launched

The crypto project Worldcoin, founded by OpenAI CEO Sam Altman, officially launched its token $WLD on the day before yesterday, July 24. Due to its strong funding and background, as well as the fame of its founder, $WLD quickly became a hot topic of discussion in the crypto community.

The token received support from almost all major exchanges at the time of its launch, including Binance, OKEx, Bybit, and Huobi, among others. However, its highly exaggerated valuation and concerns about privacy led to a brief initial price surge followed by continuous declines.

Worldcoin Project Overview

Worldcoin is one of the most ambitious projects in the cryptocurrency space, aiming to establish a global identity and financial network that allows everyone to participate. They plan to achieve this by providing a privacy-protected digital identity (World ID) and offering digital currency (WLD) in regions where it is legally permissible, enabling everyone to access it for free, solely based on their humanity.

The project's goals include increasing economic opportunities, distinguishing humans from artificial intelligence within the network, promoting global democratic processes, and exploring the possibility of Unconditional Basic Income (UBI) funded by artificial intelligence AI.

In an open letter during the launch, the founders, Alex Blania & Sam Altman, stated, “ Worldcoin is an attempt at global scale alignment, the journey will be challenging and the outcome is uncertain. But finding new ways to broadly share the coming technological prosperity is a critical challenge of our time. We hope you’ll join us. “

Worldcoin Concerns

• Privacy: The most controversial aspect of Worldcoin is the requirement for users to undergo iris verification to prove they are human. While the Worldcoin team claims that only encrypted hashes of irises will be retained after verification and that no iris data will be linked to personal information, many users believe that this practice is a cheap way of selling personal privacy information.

• Accessibility: As the registration process for Worldcoin requires cooperation with its iris verification device called Orb, and there are currently only 1500 Orbs available. These devices are mostly deployed in urban areas or even capital cities of developed countries, resulting in a low overlap with the target population in the concept of UBI that Worldcoin aims to serve. Penetrating remote and underdeveloped regions to reach those who truly need it presents a significant challenge in realizing Worldcoin's grand vision.

Chainlink CCIP Officially Launches on Mainnet

Last week, Chainlink announced the official launch of the Cross-Chain Interoperability Protocol (CCIP) at the Paris Ethereum Community Conference (EthCC) after two years of development. CCIP is now supported on multiple mainnets (Avalanche, Ethereum, Optimism, Polygon) and testnets (Arbitrum Goerli, Avalanche Fuji, Ethereum Sepolia, Optimism Goerli, Polygon Mumbai).

CCIP aims to address cross-chain connectivity issues in the Web3 (blockchain-based) ecosystem. Its goal is to provide developers and users with a secure, reliable, and user-friendly solution to connect applications and services across various public and private blockchains.

Key Features of CCIP

1. Simplified Token Transfers: An out-of-the-box solution that handles the complexity of transferring tokens between different chains, offering additional security features such as rate limiting for better control.

2. Programmable Token Transfers: Token transfers can include additional instructions, allowing more complex operations to be executed by the receiving smart contracts when they arrive at the target chain.

3. Active Risk Management (ARM) Network: An independent network that monitors and verifies cross-chain operations, enhancing security by independently validating the behavior of the main CCIP network.

4. Rate Limiting: CCIP supports customizable token transfer rate limits to prevent abuse and maintain fairness in token circulation.

5. Smart Execution: CCIP ensures the reliable execution of cross-chain transactions, unaffected even by gas fee spikes on the target chain.

6. Time-Locked Upgrades: All critical security configuration changes and upgrades in CCIP must pass through time-locked smart contracts to increase decentralization and security.

7. Payment Modes: CCIP supports fee payment using the native cryptocurrency LINK and other alternative assets through on-chain exchange mechanisms.

Current Status and Impact of CCIP Launch

Upon its launch, CCIP has already formed partnerships with two major DeFi protocols, Synthetix and Aave, who have expressed their intention to adopt CCIP as their cross-chain solution. Additionally, CCIP has attracted interest not only from DeFi projects but also from financial institutions and enterprises seeking to build bridges between different blockchain environments.

The launch of CCIP signifies that Chainlink is no longer just a L1 public chain Dapp application, but it is now targeting to become a Layer 0 protocol that connects all L1 & L2 blockchains. Considering Chainlink's development of products like Oracles, VRF, Keepers, DECO, and CCIP, it is evident that Chainlink envisions itself as the infrastructure layer connecting all blockchain technologies.

DataCheck

https://twitter.com/DodoResearch/status/1683674704803151872?s=20

🚄 Bullet News

• In the past week, the Curve ecosystem protocol Conic Finance experienced two hacking incidents within just 48 hours. Attackers exploited reentrancy vulnerabilities and price manipulation to drain the protocol's pool, resulting in a total loss of nearly 3.5 million USD.

• The zkSync Era ecosystem lending protocol Eralend also suffered a hacking attack on July 25th. The hacker manipulated the oracle price through a read-only reentrancy attack, causing the protocol to incur a total loss of 3.4 million USD.

• Twitter CEO, Elon Musk, announced over the weekend that the social media platform Twitter will be renamed as "X" and replaced its long-standing blue bird logo. Currently, the domain X.com is live, and the blue bird logo has been replaced with a black "X" symbol.