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Bernstein: South Korea's semiconductor equipment imports are divided, and AI storage investment is still being transmitted

Comparatively, Bernstein (Bernstein) analyst David Dai and others said in a report released on June 15 that South Korea's semiconductor equipment imports fell 5% month-on-month in May, but the year-on-year growth rate rose further to 39% since the beginning of the year. The bank believes that import data is strongly correlated with the combined capital expenditure of Samsung and SK hynix. Although the capital expenditure of the two companies declined sequentially in the first quarter, this more reflected seasonal factors and the pace of infrastructure investment in the early period, and subsequent spending is expected to recover. According to the report, South Korea's imports of lithography equipment from the Netherlands reached 928 million euros in May, an increase of 28% month-on-month and an increase of about 150% year-on-year, the second highest level in the second month of the quarter since records began. Bernstein estimates that ASML's second-quarter system sales in Korea were around 2.31 billion euros, more than double the previous year. Analysts say this trend may be supported by DRAM capacity expansion and the accelerated introduction of 1c nodes, which require more intense lithography equipment. The test equipment also gave a positive signal. South Korea's imports of test machines from Japan and Malaysia increased 103% year over year in May and up 5% month over month. Bernstein's regression model shows that Advantest's sales in Korea may have increased 84% month-on-month in the second quarter, which is significantly higher than the market's expectations of a 3% month-on-month increase in overall revenue. However, not all equipment vendors have the same strong data. Imports of Korean fab equipment related to Tokyo Electron fell 27% month-on-month in May. Bernstein expects the company's sales in South Korea to fall 15% month-on-month in the second quarter, below market expectations for its revenue to remain flat month-on-month. Bernstein maintained the outperforming market ratings of ASML, Advantest, Tokyo Electron, Samsung Electronics, and SK hynix. The report suggests that the storage investment cycle brought about by AI is still being transmitted to the upstream equipment chain. Among them, lithography, testing, and the expansion of advanced DRAM production are the most prominent.

67d ago

S&P gives Strategy a B-: the “old system” that doesn't wake up

S&P Global Ratings (S&P Global Ratings) rated Strategy Inc. (formerly MicroStrategy)'s latest long-term credit rating as B-, with a “stable” outlook. On the face of it, this is a “non-investment grade” rating. However, when placed in the context of the development of the crypto industry, this result reveals a deeper problem: traditional rating models still have significant understanding and valuation biases in the face of emerging paradigms such as “Bitcoin treasury companies.” Strategy's business model is already very clear: it continues to buy bitcoins through various financing methods such as issuing shares, convertible bonds, preferred shares, and bonds, and has accumulated a total of about 640,000 shares. This means that the company's core logic does not rely on software business profits, but is committed to building a new corporate structure with Bitcoin assets as the core and supported by capital market financing capabilities. The set of standards used to evaluate “operating companies” in the traditional sense has basically failed here. However, S&P still follows its inherent framework in the rating report, focusing on the following risks: excessive concentration of assets in Bitcoin, single business structure, weak risk-adjusted capital strength, insufficient dollar liquidity, and “currency mismatch” where all debts are denominated in US dollars but assets are mainly Bitcoin. Traditional rating systems: not always “correct.” Judging from the past, credit rating agencies such as S&P were not always accurate during major financial transformation cycles. Looking back at the mid-2000s, US structured finance products (especially CDO with subprime mortgages at the bottom) received a number of high ratings when they were issued, and many were even labeled AAA. According to the study, the US issued 727 “asset-backed CDO (SF ABS CDO)” between 2005 and 2007, with a total scale of about 641 billion US dollars, and the cumulative amount of about 420 billion US dollars was written off after the storm of these products. According to Wikipedia and other sources, “Many CDOs issued in 2005-2007 were downgraded to junk status or lost their principal before 2010 after receiving the highest ratings.” In these events, financial giants such as Lehman Brothers were deeply involved in CDO and MBS assets, and when the value of these assets plummeted and leverage got out of control, it eventually led to bankruptcy or acquisition. In other words, rating agencies “understood” A (or higher) structured products back then, and eventually became the hardest hit area. This shows a fact — when the market changes, the old model is easy to misjudge. Going back to Strategy, traditional rating agencies may have seen: it does not have traditional diversified income. Liquidity may be suppressed by Bitcoin fluctuations. The dollar denomination of debt and the Bitcoin valuation of assets mean that if Bitcoin falls sharply, the debt repayment chain may be damaged. But at the same time, the industry is also seeing the fact that the Strategy model was established is that the capital market, Bitcoin's global liquidity, and institutional capital all provide it with underlying support. The traditional model doesn't fully incorporate this logic. The obscure “old system” is not only S&P; many well-known traditional investment and research institutions use the old framework to view crypto asset companies. For example, Charles Schwab's Schwab Equity Ratings system (A to F ratings, F is the lowest performance expectation) has rated Coinbase (COIN) and MicroStrategy (MSTR) for almost a long period of time over the past 3-5 years. And what happened during this time? COIN has doubled its market more than once from 2022 to 2025, and Schwab has maintained FMSTR's increase of more than 1000% since 2020. Even when MSTR's actual performance in some quarters was far better than analysts' expectations, this is a consistent low rating that has continued for many years. In other words, the price is changing, the market is changing, and the Bitcoin narrative is changing, but the model has not changed. Schwab wasn't “mistaken” — it just insisted that these companies “don't fit the traditional profit logic” according to its modeling logic. Similarly, Moody's and S&P's credit ratings for Coinbase have remained in the speculative range for a long time, and the reason given is: business volatility, high income dependency, lack of predictable cash flow, risk exposure sound familiar? This and for Strategy...

298d agoWendy#Coinbase #Strategy #S&P #ratings #Rating Agencies

S&P Global gave Sky Protocol a “B-” credit rating due to “centralization and liquidity risks”

Comparatively, S&P Global has awarded the USDS issuer Sky Protocol a “B-” credit rating. This is the first time that the rating agency has issued a credit rating for the stablecoin system. According to the report, although Sky has maintained stable profits since 2020 and losses are manageable during successive market fluctuations, there are three major risks: founder Rune Christensen actually controls agreement decisions through 9% governance tokens (low voter turnout intensifies centralization), the concentration of large depositor users may cause crowding, and the 0.4% risk-adjusted capital ratio and static surplus reserve mechanisms are weak.

379d ago#Sky #reports #stablecoins

Fitch Ratings Report: Continued stablecoin issuance may bring new short-term credit market risks

The recent rapid growth in stablecoin issuance may have an impact on the operation of the short-term credit market over time. The potential asset “contagion risk” associated with the liquidation of stablecoin reserve assets may increase regulatory pressure on this nascent industry. The risk of contagion is mainly related to collateralized stablecoins, and varies according to factors such as asset size, liquidity and risk, and operator transparency and governance. Tokens backed entirely by secure, highly liquid assets present less risk, but regulators are still likely to pay more attention because their financial footprint may be global or systemic. For example, USD Coin, the second-largest stablecoin pegged to the US dollar, is supported by the US dollar in the escrow account at a ratio of 1:1. However, stablecoins that use part of their reserves or use riskier asset allocations may pose greater operational risk. For example, Tether, the largest stablecoin issuer, revealed that as of March 31, 2021, it only held 26.2% of its reserves of cash, fiduciary deposits, reverse repurchase notes, and government securities, with another 49.6% being commercial paper (CP). As of March 31, Tether's commercial paper holdings were $203 billion, while its total consolidated assets were $41 billion and are likely growing rapidly; on June 28, the total assets of stablecoins (USDT) pegged to the US dollar reached $62.8 billion. These figures suggest that its CP holdings may be larger than most premium money market funds (MMF) holdings in the US and Europe, the Middle East, and Africa. If a sudden large-scale redemption of USDT occurs during a period of general environmental sell-off pressure, particularly if it relates to broader redemptions of other stablecoins holding similar asset reserves, it may affect the stability of the short-term credit market. The Facebook-backed Diem US dollar stablecoin, which plans to issue in partnership with Silvergate Bank, proposes to hold at least 80% of its reserves as low-risk short-term government securities. The remaining 20% will be held in cash, with overnight interest invested in MMF of short-term government securities with the same risk and liquidity. Projects that could quickly become systemic, such as Diem, have caught the attention of regulators and could lead to stricter regulation of stablecoins. US regulators also pointed out that if short-term credit spreads widen significantly, entities with similar asset allocations as disclosed by Tether may not be so “stable,” a phenomenon that already occurred during the financial stress period in 2020 and 2007-2008. This is in contrast to how stablecoins are marketed to the public. Under the Stablecoin Custody and Banking License Enforcement Act (STABLE) and the EU's Crypto Asset Market Regulations, which were submitted to the US Congress in December 2020, a stricter regulatory framework is proposed, although the planned timeline and details are still unclear or subject to change. But stronger regulation could increase transparency and force stablecoin collateral reserves to gradually shift to less risky assets. This process could also be affected — or driven by the authorities' focus on central bank digital currencies and instant payment services, such as the US FedNow service. We believe it is unlikely that authorities will intervene to save stablecoins in the event of disruptive events, partly due to moral risks. If the redemption of stablecoins causes or extends a broader CP sell-off, puts pressure on market liquidity and hinders the issuance of new CPs, the authorities can step in to support traders and major MMFs to resolve the issue. Image source: Fitch Ratings, Internet compilation: Chen Zou This article is from Bitpush.News. The source is required for reprinting...

1878d agoChen.Zou#Fitch Ratings #stablecoins

TI Rating Report - UENC

1. Project introduction UENC is an expandable basic public chain with cross-chain technology as its technical direction. The main technologies and features used include: · dPoW (Targeted Workload Proof) consensus algorithm, developed independently by the team and using C language, which avoids centralized mine problems to a certain extent; node block generation uses a random extraction mode mining method, and miners confirm the probability of their being picked through gas settings to ensure the randomness of block miners being extracted; · Hybrid network structure: using two types of nodes: public network and internal network to form a network. Theoretically, it supports any CPU for mining to a certain extent, lowering the user participation threshold to a certain extent, and randomly forming with verification nodes The transaction network is fragmented, with partial consensus to complete network-wide consensus; · The storage method has been improved to: cross-parallel storage (CPS) transaction data to form a virtual main chain, combined with distributed hash tables, to solve the high cost problems of traditional data storage methods through serial main chains; · Hierarchical networks cross-chain: network layers, consensus layers, incentive layers, etc. connected to other blockchains (such as the Bitcoin network), which aims to complete the true cross-chain of assets, but this has not yet been achieved; · Using CPU mining, which lowers the mining threshold, each mining machine node needs to pledge 500 pieces Only UENC can start mining, and excessive staking is not possible. It aims to solve three problems: improving on-chain transaction efficiency (expanding the consensus layer main chain through a standard interface); a public bookkeeping chain that is both WASM compatible and can use the UTXO model; and aims to link public chain assets with high-energy consensus algorithms across the chain to the UENC chain to achieve low-cost and fast on-chain token circulation. Construction of the project began in 2018, and a token was issued. Although it is an early project, it has not accumulated sufficient market popularity and participation. According to the project disclosure, there was no financing in the early stages. It was mainly for the team to independently fund research and development. It is expected that capital will be added in the primary market in the future through the mining sector. Ecological construction is still in its infancy. 1.1 Hybrid network structure Due to the restrictions of the three major operators in China, UENC did not use the Kademlia overlay network transmission protocol, but instead adopted a hybrid mesh network structure. Kademlia is a distributed network protocol commonly used in P2P networks. KAD for short, the transmission communication protocol UDP is used between nodes. The main function of UDP is to send IP packets, and the entire node also uses distributed hash tables (DHT). Each client is responsible for a small range of routes, and at the same time stores a small portion of data, which is connected and combined into a complete data network. UENC, on the other hand, divides network nodes into two parts: public network nodes and private network nodes. Public network nodes are a core node group, and the threshold is high: they must meet the requirements of an independent external network IP, and their hardware requirements for the CPU are also relatively high. They must be equipped with at least an 8-core processor and 8 GB of memory. Compared to intranet nodes, the threshold is low, and theoretically any CPU after networking can participate. After an intranet node enters the network, according to the description in its white paper, it must first pass an adaptation period of time (depending on the size of the network). During this period, the intranet node and the public network node request a handshake, and since the public network nodes have clear IP addresses, their respective locations can be clarified. Specific verification node information such as block height, IP address, etc. will be kept in the K bucket (Kad's routing table). Each public network node is linked to some verification nodes (intranet nodes), so only these public network nodes are connected through the network layer and the consensus layer, and each intranet node will randomly perform trusted communication with the public network node and perform communication updates from time to time to ensure the availability of internal and external network communication through a heartbeat monitoring mechanism. This network structure can effectively integrate with the fact that IP addresses are constantly changing, and is also compatible with the different network settings of the three operators, thereby satisfying home users to connect to the UENC blockchain network through their own home network. Since internal network verification nodes randomly make communication requests from public network nodes and implement updates and replacements at irregular times, the arrangement of nodes in the network changes at any time, just like a Rubik's Cube, UENC guarantees its decentralized characteristics. UENC's hybrid network structure, source: TokenInsight uses K-buckets to mark each verification node with a unique ID to ensure the authenticity of the verification node in the network. Through verification of K-bucket data, verification nodes that meet the conditions (such as pledge information, height information, etc.) are concentrated into the verification pool, using discrete random functions...

1900d agoTokenInsight#dPoW #tokenInsight #UENC #Public chain #mining #Rating Report

TI Rating Report | Plasma Finance

Key points summary Plasma Finance is an integrated control panel for decentralized finance DeFi based on the Plasma network and supports cross-chain decentralized finance. It is part of the Plasma ecosystem. It integrates various DeFi protocols on Ethereum such as Uniswap and YearnFinance, and has also developed its own wallet asset management tools to provide users with one-stop digital asset management services. 1. The main DeFi tools covered by the project include: portfolio management (using its self-developed panel tool), fiat currency access channel (Plasma Finance also supports credit cards and international credit card transfers), liquidity pool + DEX + loan + aggregator (in addition to its own Plasmaswap, it also integrates Uniswap, Sushiswap, Yannfinance), and the IDO platform (Plasma Spaceport). Developed by a Russian team. At present, it has a complete product interface, which supports users to view the market by linking to an Ethereum wallet, use the “folder” function to manage assets (similar to a wallet), perform Uniswap, Sushiswap, and Plasmaswap transactions, and pledge liquidity. As the main product deployed in the Plasma ecosystem, Plasma Finance is like a decentralized Coinmarketcap with various new features such as trading and staking. The project party can release its own project token through its decentralized IDO launchpad - Plasma Spaceport. 1.1 Project progress Since the team was established in 2018, the Plasma Finance wallet was first released in 2018, supporting ERC20 tokens; completed the construction of Plasma Chain and deployed the wallet to Plasma Chain in 2019, and payment support for European and Asian banks was completed; in 2020, the project found new fiat partners and supported SEPA and SWIFT; PPAY Token, Swap, and were released in the same year Liquidity pool; As of April 2021, the project has released a beta version of the DeFi integrated operator panel, which also supports 42 stablecoins and their original token, PPAY. In the future, the project plans to support Ethereum, EOS, BSC, and Cosmos to Plasma cross-chain. Plasmaswap is expected to introduce Hyperloop to Plasma in the second quarter of 2021. The development history of Plasma, Source: Plasma Finance; TokenInsight2. According to the team's analysis, Plasma Finance was founded and CEO by Ilia Maksimenka, who graduated from Russia's Plekhanov University of Economics, but the rest of the team's information was not disclosed. TokenInsight surveyed Plasma Finance's advisory team, with a total of 8 advisors, from DenCentraNet, Master Ventures, Great Treasure, and Valentin Mihov, who has participated in the Ethereum network infrastructure architecture. There are also at least 25 cybersecurity or blockchain technology engineers, and the number of employees disclosed on LinkedIn is 12. Ratio of consultants and technical engineers, Source: Plasma Finance; TokenInsight3. Ecological Analysis 3.1 Applications Currently, DeFi applications supported by Plasma Finance include YearnFinance, Sushiswap, and Uniswap. Furthermore, the project will soon launch market overview products including various DeFi projects such as Pancakeswap, Moonswap, Balancer, and Curve to provide users with data such as real-time prices, minimum fees, and optimal annualized returns. The Plasma Finance interface is now divided into: Markets, Portfolio Management, Swap Swaps, Liquidity Pools, Wallets, and Spacepor...

1902d agoTokenInsight#DeFi #DEX #Plasma.Finance #SushiSwap #tokenInsight #Uniswap #Yearnfinance

TI Ratings Report | RAI Finance: B, positive outlook

Key points summary RAI Finance is a cross-chain transaction agreement based on the Polkadot network. It was developed by a team from China and South Korea. It aims to provide issuance and trading functions for various assets within the agreement through Polkadot's Parachain connection and integration. The target group is mainly retail investors. The protocol includes four functions: decentralized exchange DEX, swap, asset issuance, and social trading system. 1. Project introduction RAI Finance is a cross-chain transaction agreement based on the Polkadot network. It was developed by a team from China and South Korea. It aims to provide issuance and trading functions for various assets within the agreement through Polkadot's Parachain connection and integration. The target group is mainly retail investors. The protocol includes four functions: decentralized exchange DEX, swap, asset issuance, and social trading system. Its AMM is developed using Substrate and uses multiple Constant Function Market-Makers (Constant Function Market-Makers) for different asset classes. The aim is to provide traders with multi-asset exposure, reduce slippage, improve asset pool liquidity, and guarantee the returns of liquidity providers. The agreement will also support the issuance and trading of assets created by users (such as issuing tokens for their own trading strategies, or issuing NFTs). According to the project disclosure, its main features, such as DEX and Swap, will be launched in public beta in the near future. 1.1 Project progress Since the white paper was released in October 2020, RAI Finance has completed two rounds of financing, led by investment institutions such as Alphabit and NGC Ventures, respectively. On January 13, 2021, the initial public offering was completed on the Korean blockchain community platform Cobak and sold out within 1 minute. The mainnet is expected to be launched in the second quarter of 2021, and a public beta version will be launched. According to its official YouTube video, DEX is currently 80% developed and is expected to launch in the fourth quarter of 2021. As of the second quarter of 2021, it is expected that IDE and SWAP functions based on Ethereum's EVM will be implemented, and support staking RAI to generate stablecoins. It is currently a node of The Graph. The government will continue to develop core functionality based on Substrate and promote its launch on Polkadot. In the third and fourth quarter of 2021, the project party revealed that it will integrate the product into Polkadot and integrate social trading functions until full operation is completed. 2. Team analysis RAI Finance currently has a team size of 11 people, including 4 technicians, 5 marketing personnel, and 2 BD personnel. The proportion of technical personnel is about 36%, and the overall membership is quite reasonable. The core team is located in the US, South Korea, and China, but the main members are concentrated in South Korea. According to its official Medium disclosure, the core members all have over 3 years of experience in the blockchain industry and have collaborated with 25 projects such as Hedera Hashgraph. The core members of the market come from Ontology, a layer 1 underlying protocol. Core technical members have developed the first DEX on the EOS public chain. The background of RAI Finance's core team members is as follows: Team Composition, Source: RAI Finance; TokenInsight3. Ecological analysis 3.1 applies RAI Finance to actively cooperate with multiple parties to improve the Boca ecosystem and promote the development of its own platform. For example, in January 2021, RAI Finance announced that it has joined the Polkadot DeFi Alliance, hoping that pioneers in the blockchain field will cooperate more closely and then expand their own ecosystem with the goal of becoming the world's leading decentralized finance market. On February 9, RAI Finance announced a partnership with insurance market project Tidal Finance to enhance platform security; on February 11, RAI Finance announced a joint construction of a cross-chain liquidity aggregator with DVP; on February 16, RAI Finance integrated ChainLink oracles to feed prices;...

1919d agoTokenInsight#DEX #Polkadot #RAI Finance #swap #tokenInsight #blockchain #protocols #Boca #white paper #virtual currency

TI Ratings Report | CasperLabs: B, positive outlook

Key points summary CasperLabs is the first real-time proof-of-of-stake blockchain project built on the CBC (correct-by-construction) Casper solution. It aims to provide enterprises and developers with a development environment for DAPP and smart contracts. As of May 7, 2021, both the CasperLabs testnet and mainnet are live. CasperLabs currently has a team of 30 people, including 20 engineers. CSPR is CasperLabs' native token and is used as rewards for validators participating in the PoS consensus mechanism and for payment of network fees by CasperLabs users. In summary, TokenInsight gave CasperLabs a B rating, with a positive outlook. 1. Project Description CasperLabs is the first real-time proof-of-of-stake blockchain project built on the CBC (correct-by-construction) Casper solution. It aims to provide enterprises and developers with a development environment for DAPP and smart contracts. CBC Casper is one of the blockchain scaling solutions proposed by Ethereum in early 2019. Based on CBC Casper, CasperLabs developed the CasperLabs Highway consensus protocol, which was released in 2019. It added a network finality (finality) threshold to the traditional BFT consensus mechanism, and also used a mechanism with a non-fixed round length to improve the fault tolerance rate of block transmission and the speed of reaching consensus. Furthermore, in terms of programming, Ethereum's main programming language is Solidity, which is relatively niche. Compared with CasperLabs, which supports various popular programming languages such as Rust, Assembly, and Script, it is a more friendly protocol for developers. On February 16, 2021, CasperLabs team members funded the DEV ✖️ DAO to fund the development of Web3. Both the CasperLabs testnet and mainnet have been launched, and 54 genesis nodes including AscendEX, BitMart, LATOKEN, HashKey, and Blockchange were launched with the launch of the mainnet on March 31. As of May 7, 2021, the CasperLabs mainnet block height has exceeded 48,000; the testnet block height has exceeded 26,000. 1.1 Project progress CasperLabs initially developed business mainly in Europe and America. Since September 2019, CasperLabs has been doing roadshows in many Asian countries such as Singapore, China, and Japan, and has reached cooperation with Asian companies such as Ishiki Capital. In the first quarter of 2021, CasperLabs opened offices in China and the UAE, respectively. On April 27, CasperLabs partnered with Lead Ventures to actively expand business in the Middle East and North Africa region. The specific financing and technology progress is shown in the chart below. Currently, the project party has not released a technology development plan after the second quarter of 2021. The development history of CasperLabs, Source: CasperLabs; TokenInsight2. Team analysis CasperLabs currently has a team size of 30 people, 4 leaders, 3 marketers, 20 engineers, and 3 business & finance members. The proportion of technical personnel is about 67%, and the overall membership is quite reasonable. Among them, the core team is located in the US and Europe. Team composition, Source: CasperLabs; TokenInsight3. Ecological analysis 3.1 application In April 2020, CasperLabs and ChainLink reached a partnership to use ChainLink's oracle function to provide data for software built on the Casper network. In January 2021, CasperLabs partnered with Metis, a layer 2 open network, to provide Metis with a layer 1 foundation...

1924d agoTokenInsight#Assembly #CasperLabs #Rust #script #tokenInsight #protocols #smart contract

TI Rating Report | Showcase: B, stable outlook

Summary Showcase is an NFT-based mobile social media platform that allows content creators (creators) or influencers (influencers) to create and sell NFT badges (badges) to their fans to reduce the distance between influencers and fans, while revenue from NFT sales can be used to raise funds for charity. The platform adopts an invitation-based model. After screening the creators' works (such as paintings, photography, creations, etc.), an invitation is issued to introduce them to NFTs and the operating mechanism of the platform. In summary, TokenInsight gave Showcase a B rating with a stable outlook. 1. Project introduction Showcase is an NFT-based mobile social media platform that allows content creators (creators) or influencers (influencers) to create and sell NFT badges (badges) to their fans to reduce the distance between influencers and fans, while revenue from NFT sales can be used to raise funds for charity. The platform adopts an invitation-based model. After screening the creators' works (such as paintings, photography, creations, etc.), an invitation is issued to introduce them to NFTs and the operating mechanism of the platform. Showcase is mainly aimed at creators or influencers with 10,000 to 100,000 followers. After entering the platform, influencers can establish their own communities and expand commercial monetization through the creation and sale of NFTs: · Influencers create and distribute NFT badges, and can also choose to donate part of the revenue to NGOs; · Supporters/fans buy badges, collect them, or trade them in the secondary market. Fans can stake Showcase's native token SHO to start a subscription model and collect and trade NFTs. Showcase has built an infrastructure for NFTs on Polygon (formerly Matic Network). According to official Twitter, more than 1,000 influencers have signed up for Showcase. 1.1 Project progress Showcase is still under development and testing. Showcase Project CEO Reed Korach mentioned in an interview that the current development focus is on the exchange channel, which will simplify the transaction threshold; at the same time, the creator tool is also one of the development priorities, and creators can create their own NFTs through this tool. Showcase will also be integrating several DeFi platforms soon. The Showcase mobile app is expected to launch in the third quarter, and will be available on the official iOS and Android app stores for users to download. Showcase Product Roadmap, Source: Showcase, TokenInsight2. Team analysis The Showcase team currently has about 4 members, 2 of whom are responsible for blockchain and app development, and 1 has worked for Elle to be responsible for media marketing. The core team members have about 10 years of work experience, involving media and blockchain-related work content. The background of Showcase's core team members is as follows: 3. Ecological Analysis 3.1 Application In January 2020, Showcase announced a partnership with Matic Network to deploy ERC-1155 NFTs on its chain to achieve high-speed, low-cost, and high-throughput transactions. In September 2020, Showcase formed a partnership with The Giving Block to use NFTs for charitable fundraising. Creators on Showcase can collaborate with non-profit organizations in The Giving Block platform to donate part of their badge revenue. Showcase is one of the notable projects listed by CoinList. 3.2 Token Economy SHO is Showcase's native token. SHO is used for transaction payments, ecological incentives, staking, etc. The total supply of SHO was 120 million, with an initial circulation of 24,706,666. It will be sold exclusively and auctioned on AscendEX on April 27, 2021. SHO holders can stake SHO on an influencer's profile and become an “OG” to get access to that influencer's exclusive content, status, and NFT badges. Influencers will receive SHO rewards, which are proportional to the amount staked. SHO distribution and unlocking status, Source: Showcase; TokenInsig...

1942d agoTokenInsight#NFTs #Showcase #tokenInsight #Cryptographic platforms

TI Ratings Report | Algorand: BB, positive outlook

Key points summary Algorand's goal is to establish a public chain platform that focuses on financial assets, reduces cross-border transaction costs, and has no mandatory audits. Proof of Stake is Algorand's consensus mechanism. The Algorand blockchain doesn't fork; only one block can have the required signature threshold in order to be certified in a given round. The lottery is encrypted, and participant information will not be obtained in advance, after which the user will confirm it through VRF. The Algorand public chain project is divided into a two-tier system. Tier 1 is an on-chain platform composed of simple smart contracts and atomic swaps. Level 2 is an off-chain platform for data processing, reducing the burden of on-chain processing. The project is operated by the Algorand Foundation. In summary, TokenInsight gave Algorand a BB rating, with a positive outlook. 1. Project Description 1.1 Project Description Algorand's goal is to establish a public chain platform that focuses on financial assets, reduces cross-border transaction costs, and has no mandatory audits. Proof of Stake is Algorand's consensus mechanism. The Algorand blockchain doesn't fork; only one block can have the required signature threshold in order to be certified in a given round. The lottery is encrypted, and participant information will not be obtained in advance, after which the user will confirm it through VRF. The Algorand public chain project is divided into a two-tier system. Tier 1 is an on-chain platform composed of simple smart contracts and atomic swaps. Level 2 is an off-chain platform for data processing, reducing the burden of on-chain processing. The project is operated by the Algorand Foundation. Comparison of Algorand's similar co-chain projects, Source: TokenInsight1.2 Project Development History of Algorand, Source: Algorand, TokenInsight2. Team Analysis Algorand's team was led by Professor Micali, a Turing Award winner. All 6 members of the technical team have doctorate degrees or above. There are 25 core team members, including 12 leading team members, 5 senior advisors and economic advisors, 4 scientific advisors, and 4 cryptocurrency advisors. 3. Ecological analysis 3.1 application Currently, there are 50 projects on the Algorand chain, including institutions such as fintech, startups, financial services, stablecoins, and Defi. There are overlapping projects in different categories, 28 digital assets, 8 government/public departments, 3 environmental protection, 2 major stablecoins, and 1 insurance. Based on Algorand's goal of establishing a financial platform, public chain applications involve 23 Defi projects: including contract exchanges, digital stock exchanges, investment and financing platforms, insurance, real estate tokenization, etc. See the table below for some ecosystem projects: 3.2 ALGO, the token economy, is Algorand's digital asset. It has functions such as online transactions and transfers. The maximum circulation volume is 10 billion pieces, and they are expected to be released before 2030. Through the first auction in June 2019, $2.40 per token raised a total of $60,402,220. US citizens are not permitted to participate in sales. In August 2019, investors sold back a total of $19.9 million in tokens, accounting for 80% of the original auction supply. To control inflation, part of the resale and part of 609,343.1208 ALGOs (incentive rewards) were destroyed by the Foundation. It was then distributed through various means such as community rewards, and about 16% of ALGO went into circulation. Algorand token distribution, source: Algorand 3.3 Fund Incentive Program 3.3.1 Algorand Ambassador Rewards Program — Community participation and application of the Algorand Foundation's core tasks to establish a project to gradually increase the participation of community members. Users are encouraged to create and promote information content related to Algorand, including various forms of meetings, events, text, or audio and video. The project will reward those who contribute to the community. Today, Algorand's Community Ambassador Program has recruited more than 500 ambassadors in more than 50 countries and regions around the world, and has distributed more than 1 million ALGO. Algorand Ambassador Incentives Proposals, Source: Algorand Foundation 3.3.2 Ecosystem Development Support — The Algogrant Program (250 million ALGO) project aims to make the platform more valuable and attractive, providing application development, tools and infrastructure, research, education and society...

1948d agoTokenInsight#Algorand #tokenInsight #reports #ratings