区块链网路 · 3

Can Binance Megadrop's first project, BanceBit, become the Ethena of the BTC ecosystem?

BounceBit is a restaking (restaking) foundation layer in the Bitcoin ecosystem. In terms of design, it collaborated deeply with Binance to build high-yield CeDeFi components; in addition, it built its own Bouncbit Chain to build specific usage scenarios for restaking and integrate an interesting system. BanceBit's token, BB, will launch on Binance on 5/13. According to official information, the TVL is over $1BN at the time of writing this article. In terms of investment institutions, BanceBit raised a 6M dollar seed round in February of this year, led by Blockchain Capital and Breyer Capital. Also, in March and April, OKX Ventures and Binance Labs made strategic investments, respectively. At its core, the design of BounceBit is very different from today's Bitcoin L2. It didn't design a new asset type, nor did it try to modify any part of Bitcoin's underlying protocol. On the contrary, it clearly knows that the core of the Bitcoin ecosystem is BTC itself, which has a huge market capitalization and the best decentralized attributes. What BounceBit is doing is simply leveraging BTC itself. Looking back at this seemingly laid-back approach, after research and thought, we vaguely feel that it is an approach that directly attacks the essence. Below, we'll discuss its mechanism in detail and discuss some of its key designs. An introduction to the BounceBit mechanism is based on the architecture diagram above. As can be seen, BanceBit mainly consists of three parts: BanceBit Protocol: CeFi; BanceBit Chain: Staking and LSD; and Security Share Client: Restaking. For details of the Bounce Bit ProtocolBounceBit Protocol, please refer to this chart: When users deposit BTC into BanceBit Protocol, they will receive a Liquid Custody Token (LCT) as proof of deposit in a 1:1 format. For example, if you deposit BTC, you'll get Bounce BTC (BBTC), and if you deposit USDT, you'll get back Bounce Bit USD (BBUSD). According to official instructions, currently accepted assets are: BTC on Bitcoin, WBTC and USDT on Ethereum, and BTCB and FDUSD on Binance Smart Chain. Next, BounceBit Protocol will keep all assets deposited by the user in a multi-party computing (MPC) escrow account (and will not leave), and the assets on this side will enter Binance in the form of a mirror (Mirror) and entrust it to an asset management company to perform operations such as Funding Rate Arbitrage (Funding Rate Arbitrage) to generate profits, and then return this profit to the user. Funds will be segregated between Binance and escrow accounts through T+1 OTC Settlement (OES) methods to ensure safety. The specific fund custodian service providers here are Ceffu and MainNet Digital. Ceffu's predecessor, Binance Custody, has been Binance's only cooperative escrow partner for a long time (several crypto-friendly Swiss banks have recently been added). MainNet Digital is a Singaporean service provider that started with MainNet Capital (MainNet Capital). Bounce Bit ChainBounce Bit Chain is an independent Layer 1 that uses a Delegated-Proof-of-Service (DPoS) consensus mechanism and is EVM compatible. The core of PoS is...

832d agoBuidler DAO#BuidlerDAO

How did Binance Labs grow into a $9 billion venture capital institution with the most complete resources in the crypto industry?

Recently, the US Securities and Exchange Commission (SEC) filed successive charges against Binance.US and Coinbase, and the cryptocurrency industry faced a series of market turbulence. Precisely because the industry is still in a very early stage, and many policies and regulations have not yet been perfected, it is particularly important to support industry participants, expand the ecosystem, achieve large-scale adoption, and promote the continuous development of the early industry; “Binance Labs”, a venture capital and incubation division under Binance, the world's largest trading platform, is playing a key role. Long-term Binance Labs, an advisory investment that provides a full range of resources Binance Labs Overview Binance Labs was founded in 2018 as Binance's venture capital and incubation department. Binance Labs' goal is to find many outstanding blockchain startup teams, companies, and entrepreneurs, and provide them with resources and guidance to promote the overall development and mass adoption of the blockchain ecosystem. Currently, Binance Labs' portfolio covers 6 continents and more than 25 countries, and has successfully invested and incubated more than 200 projects, covering the entire Web3 circuit: public chains, protocols, infrastructure, NFTs, chain games, metaverse, DeFi, and CeFi. From technology-side infrastructure, data analysis, security, etc., to end-user product applications, communities, and ecosystem construction, Binance Labs' “comprehensiveness” is its greatest feature and advantage. He Yi, who has many years of experience in the coin industry, was also the head of Binance Labs in August 2022 in addition to being the co-founder and CMO of Binance. Under her management and impetus, the overall funding scale grew from $7.5 billion to $9 billion. Binance Labs long-term philosophy: finding potential projects that are truly willing to continue to cultivate. According to official data, Binance Labs has achieved a 10-fold return rate over the past three years. In past media interviews, He Yi also shared many investment opinions of Binance Labs. She believes that regardless of whether it's a bull market or a bear market, you need to be very clear about what you really want; when the valuation is lower during a bear market, investors should actively invest, but not for the sake of investing. They know very well that projects that want to make quick money and deliberately follow trends usually lack a solid business model, and are forced to leave the industry after the conversation and funding levels subside. Therefore, the sluggish market can instead identify and screen out entrepreneurs or teams that actually continue to operate and believe in this industry. The bear market has become an excellent time to find potential projects to invest in. It also reflects the core idea at Binance Labs: long-term philosophy. Binance Labs Three Types of Mutually Beneficial Investments Binance Labs envisions that people in the future can easily use the original blockchain products in various situations in their lives. Just like us living in the 21st century, they have long been accustomed to having convenient smart phones and various Internet services. However, the blockchain industry is still in its early stages, and there are still some technical bottlenecks and areas to be optimized. Therefore, building a complete infrastructure is definitely the primary goal and investment direction, such as first-tier or cross-chain agreements. Once you have the underlying technology, the next step is to think about how these technologies can be applied to solve some problems and needs in people's lives. This is about whether it can bring a larger user base to the blockchain, as well as a more efficient and better experience for users. Also, they focus on some typical basic questions: What's your business model? P2E, M2E, or something innovative about you? (Note: P2E — Play to Earn, M2E — Move to Earn) Whether technology and applications can establish a positive mutually beneficial cycle, the most critical bridge is “safety and trust”. Only by building a safe infrastructure can we gain the trust of users; only when we have enough users can we invest resources in infrastructure development. Therefore, the third type they are focusing on is projects that provide blockchain services to support the overall development and progress of the industry, such as data security. Binance Labs not only provides funding, but the Web3 startup that is a mentor of technology, security, and commerce is...

1153d agody zhang#Binance Labs #CeFi #CELR #Coinbase #DeFi #LEND #Matic #NFTs #ONE #SEC #SOL #WEB3 #Ethereum #metaverse #Public chain #protocols #infrastructures #Binance #Binance Coin #Platform coins #Chain tour

Web3 Browsers: A Must-Have Tool for the Decentralized World

Article: AlanWeb service software programs can enable communication between computers through the internet. Web services usually take the form of an application programming interface (API). In a way, the web is a collection of relevant hypertext materials that can be accessed online. For example, users check multimedia pages using a web browser and jump between them using hyperlinks. Web3 refers to multiple evolutions of web interactions and uses along various paths, including creating geospatial networks, using artificial intelligence tools, and delivering content through many non-browser applications or Web3 browsers to enable users to read, write, and own digital assets. The Web3 browser introduces users to a new world of decentralized applications (dApps) and digital economies, allows users to access dApps, integrates cryptocurrencies through decentralized networks, and gives users greater privacy and security. Web3 Browser Features Other Web3 technologies, such as distributed ledgers, artificial intelligence, and the metaverse, aim to create a next-generation internet accessible to all, while Web3 browsers help users interact with decentralized applications based on blockchain technology. Key features of Web3 browsers include: an immutable ecosystem (that is, users will download and trust the digital product according to the original creator's digital rules); enhanced transparency and security; faster browsing performance; enhanced user anonymity and confidentiality; integrated cryptocurrency wallets in a multi-chain format; and managing content in a decentralized manner. Additionally, search engines can find automatically tagged miniature text in Web3 to convert countless important Web1 content (macro content) into micro content (micro content). Since tagging can somewhat eliminate the uncertainty of introducing ideas and synonyms into the search process, the end result is likely to be a more accurate search. The core idea of Web3 is that by using cryptography and public blockchains, traditional centralized institutions eliminate control over users, and return control from enterprises to users. Although current Web3 browsers generally only copy the functions provided in Web2 browsers, the biggest difference from Web2 browsers is that it opens up a world of digital economy and decentralized applications for users. It not only allows users to use the general functions of the browser, but also allows user data not to be controlled and misused by enterprises. How to access Web3 Although traditional web browsers can handle Web3 applications without KYC or AML procedures, users also need to go through various additional extensions to actually enter Web3. For example, Firefox, Safari, and Chrome are all Web2 browsers, but wallet plug-ins such as MetaMask must be installed to successfully connect to dApps on Ethereum; if you want to use apps on the Solana chain, you need to use an additional Phantom wallet. However, using various cryptographic wallet plug-ins in traditional web browsers has problems such as complicated operation and security risks. If they want to improve these problems, users can choose an appropriate Web3 browser and change the online experience through the standard features of Web3 browsers. Web3 browsers are essentially decentralized applications that allow users to retain ownership of their data and share their revenue. Additionally, users can earn financial rewards through content interactions or viewing select ads on decentralized social media platforms and Web3 browsers. As many online payment services, apps, and websites are gradually shifting to a decentralized world, various Web3 browsers are beginning to emerge. These browsers use embedded wallets and support Web3 domain names to create a better Web3 experience. Brave Web3 Browser has over 50 million monthly active users, according to 2022 data, making it currently the most popular and fully functional Web3 browser. Like Google Chrome and Edge browsers commonly used on the market, Brave is a web browser developed based on the Chromium architecture, so it is relatively easy for users to use. Since the Brave browser blocks trackers and ads by default, it not only loads faster, but also protects user privacy. As an open source software...

1361d agody zhang#NFTs #Solana #WEB3 #pays

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