KNN3 Network · 4

2022 Annual Review丨Applications: From NFTs to the Field of Innovation

In 2020, blockchain began exploring the financial field around Ethereum, pioneering the decentralized financial DeFi 1.0 ecosystem, including several types of financial models such as over-collateralized loans, AMM, yield aggregation assets, synthetic assets, derivatives, and algorithmic stablecoins, and showed high combinability. Furthermore, with the continuous improvement of infrastructure, NFTs once again entered people's eyes, and applications such as game items and collectibles became popular in the market. After entering 2021, in addition to seeing the large-scale application of blockchain technology in the financial field, it also began to emerge in the field of entertainment and social networking. First, in the financial sector, the application ecosystem shows a trend from the expansion of Ethereum to other public chains; in addition, after about a year and a half of market testing, these new financial applications have settled a number of successful algorithm models, leading to several innovative breakthroughs in the field of spot trading and derivatives (such as liquidity mining, implementing perpetual contracts based on AMM methods, etc.), and some DeFi 2.0 projects that optimize locked asset liquidity and capital usage efficiency have also gradually emerged; finally, in terms of market increment, Grayscale and others are allocating alternative assets to institutional investors, such as trusts and Bitcoin ETFs. The product attracted a large number of institutional investors under the influence of the general environment where the mainstream economy is sluggish. Blockchain applications in the field of entertainment and social networking have shown a wide variety of experiments, which are attractive to a wider range of user groups. After two years of technological iteration and application innovation in 2020 and 2021, the development of the blockchain industry in 2022 also showed a different scene. Next, let's first analyze the development of blockchain in the financial and NFT fields, and summarize the progress and innovation in 2022 based on the market application development in the previous two years. Second, sort out the breakdown of blockchain applications in fields other than finance and NFTs. Blockchain industry applications in the financial sector The overall innovation and development of blockchain in the financial sector showed a slowing trend in 2022. According to DeFilLama data, on December 27, 2021, the total amount of capital locked up (TVL) of various blockchain platforms participating in financial applications reached a record high (US$314.83 billion), then gradually fell back to the level of early 2021 in 2022 (as shown in Figure 1). In particular, after the collapse of Luna and UST in May 2022, there was a cliff-style decline in the amount of capital locked up in the market. Furthermore, after the FTX exchange bankruptcy incident in November 2022, it attracted great attention from regulators in various jurisdictions. Figure 1: Total lock-up volume of the DeFi market in the NFT sector of blockchain industry applications. According to NFTScan data, as of December 14, 2022, the frequency of NFTs on Ethereum was 28,628,998 transactions throughout the year, and the number of active wallet addresses was about 33,865,590, which is significantly higher than in 2020 and 2021. The NFT market was also affected by the collapse of Luna and UST in May. The transaction frequency and number of active wallet addresses reached an all-time low on May 12 (20,983 transaction frequency, 32076 active addresses), but returned to normal values in the week after that, and reached the highest value for the whole year on June 2 (161,074 transaction frequency, 163,614 active addresses), and then began to fall back to the trading level in early 2021. Figure 2: The frequency of transactions and number of active addresses in the NFT market, according to the Nansen NFT Index (as shown in Figure 3), the specific performance can be summarized as follows: First, in the first quarter of 2022, 20 metaverse NFT pooled indices, including land, real estate, avatars, assets, and utilities, were significantly stronger than other indices, and began to weaken markedly in the second quarter. Next is the 20 Art NFT Collection Index, which maintained a steady trend throughout the year. Although the trading volume was at the end of the NFT circuit in Q1 of 2022, it maintained a steady trading volume for the next three quarters. Among them, Q4 was able to take a leading position, not because popular products appeared on the art NFT circuit, but art NFTs maintained a stable trading volume when the development of other NFT tracks was weak. Finally, there is the Gaming NFT circuit. It can be seen from the 50 NFT collection indices, including play-to-earn, role-playing, and DeFi-related games. Apart from Q1 being affected by popular Move-to-Earn games such as STEPN, the other few quarters were significantly lower than the market average. Figure 3: The Nansen NFT Index is used in the NFT market...

1334d ago万向区块链#NFTs #Universal blockchain

IOSG Weekly Brief | Unbreakable, Why We Need Better NFT Protocol Standards #141

Part.1 Insight is unbreakable, why do we need better standards for NFT agreements Author: Chloe, IOSG Ventures This article is IOSG original content. It is only used for industry learning and communication, and does not constitute any investment reference. If you need to cite, please indicate the source. For reprinting, please contact the IOSG team for authorization and reprinting instructions. From a series of ripple effects caused by the Terra explosion in May to the Federal Reserve's interest rate hike in late July, the crypto industry fell into a temporary lull after being hit continuously. In the secondary market, the BTC price fell back to around 20,000 US dollars, which is basically the same as the high point of the 17-year bull market. The primary market is also calming down. The number and valuation of projects have declined markedly, and the frequency of fund launches has also slowed. Even in the crypto community that has always been very lively on Telegram, members have gone from posting hundreds of messages a minute discussing the market to everyday bragging and posting pictures of beautiful women. In this bear market, everyone has become a “Buddhist.” The NFT market is no exception, and the floor price of blue-chip NFTs has dropped significantly. Meanwhile, OpenSea's August trading volume was less than 500 million US dollars, a record low in a year. Despite this, in the face of sluggish market conditions, Paradigm and A16Z, which are the two major trendsetters for crypto funds, have not “recovered” and have recently published articles on topics such as NFT pricing and copyright. On August 31, A16Z published “The Can't Be Evil NFT Licenses”, defining the six major copyright categories of NFTs. Paradigm published VRGDAS and GOO on August 24 and September 6, respectively, to discuss the innovative auction mechanism and community value of NFTs. This article will focus on introducing readers to these three new standards and mechanisms built around NFTs. Image source: https://dune.com/PierreYves_Gendron/opensea---metricsParadigm—VRGDAs概念：VRGDA是NFT的新拍卖机制，适用于非线性释放的欠缺流动性的资产逻辑：NFT发行方可以利用VRGDA，自定义NFT除一次性释放或线性释放以外的拍卖时间表. Furthermore, the dynamic adjustment of prices adapts the meaning of the schedule: to enable creators, not miners, to obtain more consumer surplus; to smooth and extend the life cycle of NFT projects, VRGDAS, the full name of the English name Variable Rate Dutch Auctions, is a new mechanism for NFT auctions proposed by Paradigm. Before we discuss VRGDA, let's take a look at the GDA concept. GDA's Chinese is a progressive Dutch auction. As the name suggests, its working principle is to break up an auction into a series of Dutch auctions (note: Dutch auctions are a commonly used auction mechanism. The auction starts with a high asking price, then gradually reduces the price until the buyer is willing to accept it). Because sales do not depend on market liquidity, GDA is particularly suitable for assets that lack liquidity. VRGDA is a derivative of GDA. It allows the NFT issuer to set an auction schedule, such as selling 100 NFTs every day, or selling 10 NFTs less every day than the previous day. The life cycle of an NFT is very similar to the Gartner Hype Cycle (Technology Maturity Curve). The price of NFTs was very low when there wasn't much volume in the early days. After gaining community and popularity, the price skyrocketed, and then fell like crazy in the past due to the boom. Most of the NFT projects will return to zero, and very few NFTs that have received consensus will survive and gradually stabilize at an equilibrium price in a market. Image Source: Wikipedia-Gartner Hype Cycle So how does VRGDA extend the NFT cycle through an auction mechanism? Paradigm provides such a function: where P0 is the target price of the NFT; k is the decay factor of the NFT price when the expected sales volume is not reached; f (t) is the timeline, and n NFTs are expected to be sold at point T in time. By substituting different f (t), we can obtain different sales mechanisms. Paradigm only discusses three situations in the article, but theoretically any kind of schedule can be achieved. If the issuer chooses to release NFTs linearly at a constant rate, such as releasing 10 per day, this is a simple GDA. If the issuer expects to adjust the number of releases over time, VRGD is required...

1439d agoIOSG#IOSG

Multi-chain Web3 relationship aggregator KNN3 Network closes $2.4 million seed round

In comparison, KNN3 Network, a multi-chain Web3 relationship aggregation website, announced the completion of a $2.4 million seed round, led by Liang Xinjun, former co-founder of HashGlobal and Fosun International, with Mask Network, MetaWeb Venture, Eniac Venture, Tess Venture, Stratified Capital, Proposed Lab, Incuba Alpha, Zeuth Venture, Cogitent Venture, Atlas Capital and others participated. KNN3 Network provides web3 graphics solutions for relationship aggregation across multiple blockchain domains to support social dApps and AI analysis. It aims to be a community-driven data management protocol that supports on-chain data collaboration, and the team will use funding for protocol development and product marketing efforts.

1443d agoWendy#Eniac Venture #Fosun International #HashGlobal #KNN3 Network #Mask Network #MetaWeb Venture #Tess Venture #Web 3

Biweekly Report｜Kyberswap Integrated Price Feeds; Warmaozhixia Integrated VRF; Nexus Mutual Integrated POR

8/12-8/25 Major Release KyberSwap is a multi-chain DEX aggregator and liquidity platform. KyberSwap integrates Chainlink Price Feeds on Arbitrum, Avalanche, BNB Chain, Ethereum, Optimism, and Polygon to ensure that KyberSwap rewards are reliably distributed to KyberDAO members. Interest Protocol is a capital-efficient DeFi lending platform. Interest Protocol announced a strategic partnership with Chainlink Labs to integrate Chainlink Keepers and Proof of Reserve into its platform with the support of Chainlink Labs. For details, please read: “Interest Protocol and Chanlink Labs Develop a Strategic Partnership” Nexus Mutual is a decentralized insurance replacement agreement. Nexus Mutual has integrated Chainlink PoR (Proof of Reserve) on Ethereum to verify that Nexus Mutual has deposited more than 15,000 ETH into the Maven 11 loan pool on Maple. 8/12-8/25 Ecosystem Project Integration Progress PEAKDEFI is a cryptographic ecosystem composed of PEAKDEFI Ethereum applications, decentralized PeakDefi platforms, and education platform MarketPeak. PEAKDEFI integrates Chainlink VRF and Keepers on BNB Chain. VRF helps randomly select winners on the platform's launchpad, and Keepers helps automatically calculate and distribute IDO allocations. Hummus Exchange is a decentralized AMM for stable transactions. Hummus Exchange integrates Chainlink Price Feeds on Metis to help protect its AMM. If the liquidity provider's stablecoin deviates more than 2% or more from the pegged dollar, Hummus's smart contract will refer to Price Feeds and stop transactions and withdrawals. Story is a social crowdfunding platform on BnB Chain that regularly hosts raffles to fund charitable causes. Story has integrated Chainlink VRF on BnB Chain to help donors determine that the draw is fair and transparent. JayPeggers is a solution to NFT tax losses. Jaypeggers chose to integrate Price Feeds on Ethereum and price their fees in dollars. FlokiFi is FLOKi's token locking protocol. FlokiFi integrates two ChainLink trust-minimized services: Keepers helps automate its token-locking process. Price Feeds help display accurate prices on Arbitrum, Avalanche, BNB Chain, Ethereum, Fantom, Heco, Optimism, and Polygon. KNN3 Network is a Web3 cross-chain relationship aggregator. KNN3 Network is using the Chainlink Any API to help support its decentralized credential services, enabling users to seamlessly access credential service data from cloud-based storage solutions such as IPFS/S3. Metastocks is a business management game where players take on the role of CEOs of different companies. Metastocks is using Chainlink Price Feeds, VRF, and Keepers on Avalanche, BNB Chain, Fantom, and Polygon to drive fair, random, and transparent gaming experiences. Gods of Egypt is an NFT scavenger hunt. Gods of Egypt is using Chainlink VRF on Ethereum to randomly and fairly select giveaway winners during its treasure hunt. Bearded Buddies...

1456d agoChainlink预言机#Chainlink

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