12 mins. ago
Despite uncertainty across the wider crypto markets, the Solana ecosystem continues to reward its loyal users with a wealth of liberal incentives and airdrops.
Which rewards programs and incentives should you have on your radar?
JUPITER ASR (ACTIVE STAKING REWARDS)
Ever since the $JUP TGE supporters and community members have been able to stake JUP tokens within Jupiter’s platform and vote on decentralized governance proposals that shape the direction and future of the protocol.
All voters and contributors, regardless of how they cast their votes, are eligible for a share of around $60M in Jupiter ASR (Active Staking Rewards). Allocations are calculated based on an individual account’s voting power and will be comprised of:
50M JUP
7.5B WEN
7.5M ZEUS
7.5M UPT
750,000 SHARK
These highly anticipated Active Staking Rewards are expected to be distributed before July 10, with an official allocation checker scheduled to go live sometime on July 5. It’s important to note that JUP claimed during the event will automatically added to your wallet’s staked amount.
SANCTUM $CLOUD AIRDROP
Following the success of its gamified LST loyalty program, Wonderland, Sanctum’s initial $CLOUD airdrop is slated to go live in mid-July. Attracting over 300,000 participants and amassing over $1B TVL (Total Value Locked) in early June based on DeFiLlama data, Sanctum’s CLOUD airdrop is one of the ecosystem’s most eagerly awaited events.
Sanctum's CLOUD airdrop introduces a novel approach to token distribution. With 10% of the total allocated to the event, the Sanctum has made the decision to split reward users based not only on their Wonderland XP, but also on their 'Earnestness'.
An official date for the CLOUD airdrop is yet to be announced, but it expected to go live sometime in mid-July.
MARINADE SEASON 3
One of the largest DeFi applications by TVL in the Solana ecosystem, Marinade’s Season 3 Rewards program is well underway.
Expected to run for three months, Marinade Season 3 promises to distribute 25M MNDE tokens, currently valued at $2 .7M, to community members who deepen total mSOL liquidity. Users are encouraged to earn bonus MNDE incentives by providing mSOL liquidity in three different ways:
Kamino mSOL/SOL LP Vault - Up to 12.5M MNDE tokens will be allocated to users who provide mSOL/SOL liquidity on Kamino Finance. LP providers will also be eligible for Kamino rewards.
Looping Meteora mSOL/SOL LP Tokens - Up to 5M MNDE tokens will be allocated to users who deposit into mSOL/SOL pools on Meteora and strategically loop their yield through Solend.
Discretionary LP/Partner Rewards - The remaining 7.5M MNDE tokens will be distributed to community members who deepen mSOL liquidity through various other partnerships. These partnerships are dynamic and currently undisclosed.
KAMINO SEASON 2
Another Solana DeFi powerhouse, Kamino’s Season 2 records program is thriving in full force and scheduled to end around the end of July.
Reward allocations are calculated linearly based on points accrued through using the protocol’s various functions, including lending and borrowing markets. By staking KMNO, the platform’s native token, users receive multipliers that boost their point generation.
Kamino’s Season 2 rewards program has been further bolstered by the integration of PayPal’s PYUSD stablecoin, which has attracted over $38M in TVL at press time.
DEBRIDGE
A clear winner of Jupiter’s Round 3 LFG Launchpad candidates, Debridge’s ongoing rewards program has attracted over 470,000 unique accounts and transferred over $3 .1B across different blockchains.
Accruing points through Debridge’s rewards program is straightforward, users simply need to transfer funds between chains using the protocol and by referring new users.
PARCL PERPETUAL POINTS SEASON 2
As of July 1st, the Parcl Perpetual Points program has entered its second season. Expected to last for the remainder of 2024, the
Which rewards programs and incentives should you have on your radar?
JUPITER ASR (ACTIVE STAKING REWARDS)
Ever since the $JUP TGE supporters and community members have been able to stake JUP tokens within Jupiter’s platform and vote on decentralized governance proposals that shape the direction and future of the protocol.
All voters and contributors, regardless of how they cast their votes, are eligible for a share of around $60M in Jupiter ASR (Active Staking Rewards). Allocations are calculated based on an individual account’s voting power and will be comprised of:
50M JUP
7.5B WEN
7.5M ZEUS
7.5M UPT
750,000 SHARK
These highly anticipated Active Staking Rewards are expected to be distributed before July 10, with an official allocation checker scheduled to go live sometime on July 5. It’s important to note that JUP claimed during the event will automatically added to your wallet’s staked amount.
SANCTUM $CLOUD AIRDROP
Following the success of its gamified LST loyalty program, Wonderland, Sanctum’s initial $CLOUD airdrop is slated to go live in mid-July. Attracting over 300,000 participants and amassing over $1B TVL (Total Value Locked) in early June based on DeFiLlama data, Sanctum’s CLOUD airdrop is one of the ecosystem’s most eagerly awaited events.
Sanctum's CLOUD airdrop introduces a novel approach to token distribution. With 10% of the total allocated to the event, the Sanctum has made the decision to split reward users based not only on their Wonderland XP, but also on their 'Earnestness'.
An official date for the CLOUD airdrop is yet to be announced, but it expected to go live sometime in mid-July.
MARINADE SEASON 3
One of the largest DeFi applications by TVL in the Solana ecosystem, Marinade’s Season 3 Rewards program is well underway.
Expected to run for three months, Marinade Season 3 promises to distribute 25M MNDE tokens, currently valued at $2 .7M, to community members who deepen total mSOL liquidity. Users are encouraged to earn bonus MNDE incentives by providing mSOL liquidity in three different ways:
Kamino mSOL/SOL LP Vault - Up to 12.5M MNDE tokens will be allocated to users who provide mSOL/SOL liquidity on Kamino Finance. LP providers will also be eligible for Kamino rewards.
Looping Meteora mSOL/SOL LP Tokens - Up to 5M MNDE tokens will be allocated to users who deposit into mSOL/SOL pools on Meteora and strategically loop their yield through Solend.
Discretionary LP/Partner Rewards - The remaining 7.5M MNDE tokens will be distributed to community members who deepen mSOL liquidity through various other partnerships. These partnerships are dynamic and currently undisclosed.
KAMINO SEASON 2
Another Solana DeFi powerhouse, Kamino’s Season 2 records program is thriving in full force and scheduled to end around the end of July.
Reward allocations are calculated linearly based on points accrued through using the protocol’s various functions, including lending and borrowing markets. By staking KMNO, the platform’s native token, users receive multipliers that boost their point generation.
Kamino’s Season 2 rewards program has been further bolstered by the integration of PayPal’s PYUSD stablecoin, which has attracted over $38M in TVL at press time.
DEBRIDGE
A clear winner of Jupiter’s Round 3 LFG Launchpad candidates, Debridge’s ongoing rewards program has attracted over 470,000 unique accounts and transferred over $3 .1B across different blockchains.
Accruing points through Debridge’s rewards program is straightforward, users simply need to transfer funds between chains using the protocol and by referring new users.
PARCL PERPETUAL POINTS SEASON 2
As of July 1st, the Parcl Perpetual Points program has entered its second season. Expected to last for the remainder of 2024, the
23 hours ago
Compute Labs, the developer of a Solana-based GPU tokenization protocol, has raised $3 million in a pre-seed funding round.
Protocol Labs, the company behind the decentralized file storage network Filecoin, led the funding round.
Other investors includes;
Blockchain Coinvestors, OKX Ventures, CMS Holdings, HashKey Capital, Amber Group and P2 Ventures.
They were also Angel investors, including Sandeep Nailwal of Polygon, Illia Polosukhin of NEAR Protocol and Austin Federa of Solana Foundation.
Compute Labs began raising funds for the pre-seed round in March when it was founded and closed the round in April. The round was structured as a simple agreement for future tokens (SAFT) but it brought Compute Labs' fully diluted token valuation to $30 million.
What is Compute Labs?
Compute Labs is building a real-world asset (RWA) tokenization protocol focused on compute as its underlying asset. Compute refers to the processing power of CPUs and GPUs, essential for tasks such as data processing and running software.
Protocol Labs, the company behind the decentralized file storage network Filecoin, led the funding round.
Other investors includes;
Blockchain Coinvestors, OKX Ventures, CMS Holdings, HashKey Capital, Amber Group and P2 Ventures.
They were also Angel investors, including Sandeep Nailwal of Polygon, Illia Polosukhin of NEAR Protocol and Austin Federa of Solana Foundation.
Compute Labs began raising funds for the pre-seed round in March when it was founded and closed the round in April. The round was structured as a simple agreement for future tokens (SAFT) but it brought Compute Labs' fully diluted token valuation to $30 million.
What is Compute Labs?
Compute Labs is building a real-world asset (RWA) tokenization protocol focused on compute as its underlying asset. Compute refers to the processing power of CPUs and GPUs, essential for tasks such as data processing and running software.
1 day ago
(E)
Note to self in near future. Thank you for believing in yourself and not being like 98% of stupid, uneducated people in finance. Thx also to astropeng for filling us with information and content and making social networking really interesting before the big moment (bullpad).
Of course, I also thank the other creators, but I've seen more of Astropeng than my own family 😂
Now that you've made it, go and fill up with coconut on the beach in the Maldives fcking degen
Of course, I also thank the other creators, but I've seen more of Astropeng than my own family 😂
Now that you've made it, go and fill up with coconut on the beach in the Maldives fcking degen
1 day ago
🐧🚀 Pengy goes wild on TikTok & Instagram!
PengyOS invites all meme & web3 enthusiasts to the future—the new meta.🌐💻
Back on track, setting sights on the moon & beyond.🌕🚀
Join us & make some waves together! 🌊✨
TikTok: @ Pengy_meme_sol
IG: @ PengyOS_meme
PengyOS invites all meme & web3 enthusiasts to the future—the new meta.🌐💻
Back on track, setting sights on the moon & beyond.🌕🚀
Join us & make some waves together! 🌊✨
TikTok: @ Pengy_meme_sol
IG: @ PengyOS_meme
2 days ago
The Legacy of Zuzalu: One Year Later 🌇
Can the ephemeral city experiment inspired by Vitalik live on?
One year ago this week, our very own
TrustlessState shared details about his experience living with some of crypto’s brightest minds in the ephemeral city called Zuzalu.
You can read David's full breakdown of his experience below:
👉 http://bankless.cc/David_Z...
This popup city housed over 200 people from diverse regions and fields for two months. David conducted a number of interviews with fellow attendees during this time on topics spanning zero-knowledge proofs, longevity and biotech, network states, and public goods. You can check out those conversations below.
👉 http://bankless.cc/ZuzaluC...
Inspired and initiated by VitalikButerin, Zuzalu blended structure and spontaneity to construct a successful experiment, but almost immediately after the ephemeral city dispersed, attendees wondered how they could keep the fire of Zuzalu alive and continue to offer places for the ethos of Ethereum to connect with disparate emerging technologies.
Let’s take a look at what they’ve been up to since 👇
🏡 The Rise of Zu-Villages
The success of Zuzalu sparked interest in continuing the concept of crypto pop-up cities called Zu-villages.
Earlier this year, a gitcoin grants program offered 250 ETH in funding for creating Zu-villages and Zu-related technology. The round ran from Jan. 15 to Feb. 15, providing funding for 32 events like JoinEdgeCity, Esmerelda and ZuBerlinCity, which are currently running or have just finished, and 28 tools like ZupassProject and MuseMatrix_, a DeSci research institute.
Many of these tie into Zuzalu City, a community hub for Zu-villages and related software, including a calendar of pop-up cities like the few we've highlighted below:
Edge Esmeralda
The ongoing Edge Esmeralda is a month-long popup village focused on incubating novel technologies and new ways of living, aiming to build a foundation for a permanent new town, Esmeralda, around Healdsburg, CA. With $217K in funding from the Zuzalu grants round, Esmeralda put together a series of events centered around human organization, robotics, artificial intelligence, real-world crypto applications, and health and longevity.
The rise of Zu-villages illustrates the enduring impact of Zuzalu, with these pop-up cities continuing to foster collaboration, technological advancement, and a decentralized way of living across the globe.
These pop-up villages demonstrate a model where individuals can co-live, co-work, and co-create, blurring the lines between professional collaboration and communal living to create atmospheres aligned with personal sovereignty and collective problem-solving. The transient nature of these communities allows for flexibility and adaptability, where new ideas can be tested and refined in real time.
It highlights a future where governance is more fluid, technology enhances participants' health, and community building is a continuous, evolving process.
By providing spaces for like-minded individuals to come together, Zuzalu and its successors create fertile ground for social experimentation and technological innovation. They embody the spirit of decentralized, autonomous living, further reflecting the broader societal trends towards alternative lifestyles in the digital age. Overall, the legacy of Zuzalu lies in its ability to inspire and enact a vision of a forward-thinking world, where dynamic, transient communities can thrive and innovate, and tech and health exist in harmony.
Written by davewardonline
Can the ephemeral city experiment inspired by Vitalik live on?
One year ago this week, our very own
TrustlessState shared details about his experience living with some of crypto’s brightest minds in the ephemeral city called Zuzalu.
You can read David's full breakdown of his experience below:
👉 http://bankless.cc/David_Z...
This popup city housed over 200 people from diverse regions and fields for two months. David conducted a number of interviews with fellow attendees during this time on topics spanning zero-knowledge proofs, longevity and biotech, network states, and public goods. You can check out those conversations below.
👉 http://bankless.cc/ZuzaluC...
Inspired and initiated by VitalikButerin, Zuzalu blended structure and spontaneity to construct a successful experiment, but almost immediately after the ephemeral city dispersed, attendees wondered how they could keep the fire of Zuzalu alive and continue to offer places for the ethos of Ethereum to connect with disparate emerging technologies.
Let’s take a look at what they’ve been up to since 👇
🏡 The Rise of Zu-Villages
The success of Zuzalu sparked interest in continuing the concept of crypto pop-up cities called Zu-villages.
Earlier this year, a gitcoin grants program offered 250 ETH in funding for creating Zu-villages and Zu-related technology. The round ran from Jan. 15 to Feb. 15, providing funding for 32 events like JoinEdgeCity, Esmerelda and ZuBerlinCity, which are currently running or have just finished, and 28 tools like ZupassProject and MuseMatrix_, a DeSci research institute.
Many of these tie into Zuzalu City, a community hub for Zu-villages and related software, including a calendar of pop-up cities like the few we've highlighted below:
Edge Esmeralda
The ongoing Edge Esmeralda is a month-long popup village focused on incubating novel technologies and new ways of living, aiming to build a foundation for a permanent new town, Esmeralda, around Healdsburg, CA. With $217K in funding from the Zuzalu grants round, Esmeralda put together a series of events centered around human organization, robotics, artificial intelligence, real-world crypto applications, and health and longevity.
The rise of Zu-villages illustrates the enduring impact of Zuzalu, with these pop-up cities continuing to foster collaboration, technological advancement, and a decentralized way of living across the globe.
These pop-up villages demonstrate a model where individuals can co-live, co-work, and co-create, blurring the lines between professional collaboration and communal living to create atmospheres aligned with personal sovereignty and collective problem-solving. The transient nature of these communities allows for flexibility and adaptability, where new ideas can be tested and refined in real time.
It highlights a future where governance is more fluid, technology enhances participants' health, and community building is a continuous, evolving process.
By providing spaces for like-minded individuals to come together, Zuzalu and its successors create fertile ground for social experimentation and technological innovation. They embody the spirit of decentralized, autonomous living, further reflecting the broader societal trends towards alternative lifestyles in the digital age. Overall, the legacy of Zuzalu lies in its ability to inspire and enact a vision of a forward-thinking world, where dynamic, transient communities can thrive and innovate, and tech and health exist in harmony.
Written by davewardonline
2 days ago
I've always been told to stop investing, that I'd lose my money. Yes, I've lost some, but I've made some too, and even if I lose it all, I'll keep trying, because the future belongs to those who fight through the tough times.
3 days ago
(E)
Jupiter, the leading DEX aggregator on the Solana, has announced a packed roadmap for July and August that features the highly anticipated
➢ Active Staking Rewards (ASR) claim
➢ Two token launches
➢ Crucial governance votes that will shape the platform's future.
Check ot out here↓↓
➢ Active Staking Rewards (ASR) claim
➢ Two token launches
➢ Crucial governance votes that will shape the platform's future.
Check ot out here↓↓
3 days ago
We're still in the early days of bitcoin. With all the positive economic announcements around bitcoin, its acceptance as a currency, big whales buying through institutions.
History repeats itself again and again, the rich eat first, the poor eat last. For those here today in crypto, building a great empire while people around you are telling you to stop because it's dangerous, it's going to go 0
Of course, stay unemployed and we'll see who needs help in the not too distant future.
History repeats itself again and again, the rich eat first, the poor eat last. For those here today in crypto, building a great empire while people around you are telling you to stop because it's dangerous, it's going to go 0
Of course, stay unemployed and we'll see who needs help in the not too distant future.
5 days ago
Last few month been real bad for me
Today is sad- need to sell all my cryptos at a crazy loss to cover real life stuff rent food etc :/
Was fun while it lasted maybe I will be able to invest in crypto in the future I hope
Will still be around when I can be tho learning and looking for stuff
Today is sad- need to sell all my cryptos at a crazy loss to cover real life stuff rent food etc :/
Was fun while it lasted maybe I will be able to invest in crypto in the future I hope
Will still be around when I can be tho learning and looking for stuff
9 days ago
Blast's airdrop is tomorrow
And the stakes couldn't be higher...
Here's what you need to know before tomorrow's drop 👇
It's almost... finally... just about here.
Ethereum’s Blast_L2 has been one of the more innovative protocols when it comes to incentive models for bootstrapping deposits and user activity.
They've been very successful thus far, enabling the network to accumulate over $2B in total value locked (TVL) and become the second-largest L2!
While Blast has transformed into a Goliath among L2s, the imminence of its airdrop – scheduled for tomorrow, June 26 – raises undeniable concerns about the network’s future in the aftermath of this much-anticipated event.
Today, we’re digging into what we know about the airdrop and unpacking the dilemma Blast faces in the post-drop battle to retain existing users and their capital! 👇
What's Happening with Blast?
Many early Blast depositors were shocked when they received a points multiplier instead of liquid tokens at mainnet launched in February, and despite promises to conduct a drop sometime in May, this date was subsequently delayed to June 26 (tomorrow!) for unknown reasons.
Although Blast had not provided complete tokenomics until today, it had committed to setting aside half of the nebulous initial airdrop allocation to recipients of “Points” and the other half to holders of “Gold.”
Further, Blast introduced “Jackpots” to distribute Gold to users; wallets could enter a “deck” of up to eight Blast-native tokens or NFTs into these randomly occurring events to receive Gold if one of their selected items is chosen as the Jackpot winner.
Needless to say, it's been a long, winding road filled with a lot of leaderboards and incentive charades. But now, after all this time, the team finally has to deliver on its airdrop.
$BLAST launches tomorrow at 10AM EST.
Who's Getting Blast's Airdrop?
Blast’s success has primarily hinged on users’ perceptions that interacting with the network will position them to receive lucrative token rewards, making it imperative for Blast to conduct a well-received airdrop to maintain its market dominance.
Although a monster initial airdrop allocation would certainly make users feel valued for their past activities, it would diminish the value of future airdrop incentives and dilute the potency of this airdrop farm. Alternatively, too small of an initial drop risks aggravating users and unraveling the belief that unclear BLAST allocation schemes are worth chasing.
In total, Blast reserved 50% of the total 100B BLAST supply for the community, with 17B of these tokens – roughly one-third of the total community allocation – set to be distributed through the initial, or Phase 1, airdrop.
The top 0.1% of airdrop recipients, about 1k addresses, will have to vest a portion of their airdrop linearly over 6 months and will be subject to minimum monthly Points thresholds based on their Phase 1 activity to fully vest their allocation – a clear effort to keep whales and their capital involved in the network's future.
An additional 8B BLAST subject to a 4-year linear unlock was granted to the recently established Blast Foundation, an organization intended to help the community realize the “Blast Vision,” further details of which are scheduled to be unveiled tomorrow alongside the airdrop.
On the other hand, a successful initial drop would build an outsized aura around the network and likely attract an increased amount of users and capital seeking to farm future incentives to Blast, turbocharging onchain metrics, bolstering the valuation of BLAST, and increasing the attractiveness of this opportunity!
Which future awaits Blast? We'll have a good idea in a few hours!
Written by JackInabinet
And the stakes couldn't be higher...
Here's what you need to know before tomorrow's drop 👇
It's almost... finally... just about here.
Ethereum’s Blast_L2 has been one of the more innovative protocols when it comes to incentive models for bootstrapping deposits and user activity.
They've been very successful thus far, enabling the network to accumulate over $2B in total value locked (TVL) and become the second-largest L2!
While Blast has transformed into a Goliath among L2s, the imminence of its airdrop – scheduled for tomorrow, June 26 – raises undeniable concerns about the network’s future in the aftermath of this much-anticipated event.
Today, we’re digging into what we know about the airdrop and unpacking the dilemma Blast faces in the post-drop battle to retain existing users and their capital! 👇
What's Happening with Blast?
Many early Blast depositors were shocked when they received a points multiplier instead of liquid tokens at mainnet launched in February, and despite promises to conduct a drop sometime in May, this date was subsequently delayed to June 26 (tomorrow!) for unknown reasons.
Although Blast had not provided complete tokenomics until today, it had committed to setting aside half of the nebulous initial airdrop allocation to recipients of “Points” and the other half to holders of “Gold.”
Further, Blast introduced “Jackpots” to distribute Gold to users; wallets could enter a “deck” of up to eight Blast-native tokens or NFTs into these randomly occurring events to receive Gold if one of their selected items is chosen as the Jackpot winner.
Needless to say, it's been a long, winding road filled with a lot of leaderboards and incentive charades. But now, after all this time, the team finally has to deliver on its airdrop.
$BLAST launches tomorrow at 10AM EST.
Who's Getting Blast's Airdrop?
Blast’s success has primarily hinged on users’ perceptions that interacting with the network will position them to receive lucrative token rewards, making it imperative for Blast to conduct a well-received airdrop to maintain its market dominance.
Although a monster initial airdrop allocation would certainly make users feel valued for their past activities, it would diminish the value of future airdrop incentives and dilute the potency of this airdrop farm. Alternatively, too small of an initial drop risks aggravating users and unraveling the belief that unclear BLAST allocation schemes are worth chasing.
In total, Blast reserved 50% of the total 100B BLAST supply for the community, with 17B of these tokens – roughly one-third of the total community allocation – set to be distributed through the initial, or Phase 1, airdrop.
The top 0.1% of airdrop recipients, about 1k addresses, will have to vest a portion of their airdrop linearly over 6 months and will be subject to minimum monthly Points thresholds based on their Phase 1 activity to fully vest their allocation – a clear effort to keep whales and their capital involved in the network's future.
An additional 8B BLAST subject to a 4-year linear unlock was granted to the recently established Blast Foundation, an organization intended to help the community realize the “Blast Vision,” further details of which are scheduled to be unveiled tomorrow alongside the airdrop.
On the other hand, a successful initial drop would build an outsized aura around the network and likely attract an increased amount of users and capital seeking to farm future incentives to Blast, turbocharging onchain metrics, bolstering the valuation of BLAST, and increasing the attractiveness of this opportunity!
Which future awaits Blast? We'll have a good idea in a few hours!
Written by JackInabinet
15 days ago
Is OP_CAT the missing piece for BTC L2s?
This opcode has everyone talking; what does it do?
A beginner's guide 👇
Bitcoin L2s are the talk of the town, but not much of their promise has been realized yet.
What are Bitcoin's builders waiting for?
One significant proposal could help mature the Bitcoin L2 landscape: the reintroduction of OP_CAT. This opcode, which was disabled early in Bitcoin's history, could unlock new capabilities and pave the way for more sophisticated and trustless Bitcoin L2 solutions.
Let's dig into why this opcode could be so transformative for BTC 👇
What is OP_CAT?
Okay, so why is this seemingly random opcode so controversial? OP_CAT, or "Operation Concatenate" is an opcode in Bitcoin's scripting language that allows for the concatenation of two data elements.
Initially proposed by Satoshi Nakamoto, OP_CAT was disabled in 2010 due to security concerns related to its original implementation, specifically potential denial-of-service (DoS) attacks caused by unbounded memory usage.
The introduction of the Taproot upgrade in 2021 has mitigated these original concerns. Taproot enforces a maximum stack element size of 520 bytes, addressing the memory usage issue that led to OP_CAT's deactivation. With this security improvement and resurgent Bitcoin development interest, thanks to Ordinals and Runes, a movement to reintroduce OP_CAT to enhance Bitcoin's scripting capabilities is gaining steam, aiming to put more complex transaction capabilities in reach.
Are Covenants and Smart Contracts Different?
One reason why OP_CAT is so compelling is because it can actualize covenants, i.e. spending conditions, on Bitcoin. Covenants and smart contracts are both mechanisms for controlling the flow of funds in a blockchain network, but they operate in distinct ways.
Covenants:
Purpose: Restrict how funds can be spent in future transactions.
Functionality: Implement specific spending constraints, such as limiting addresses or setting conditions on fund transfers.
Complexity: Generally involves simpler, deterministic logic without loops or complex computations.
Implementation: Can be implemented using Bitcoin Script with enhancements like OP_CAT.
Smart Contracts:
Purpose: Automate a wide range of processes and transactions.
Functionality: Handle complex tasks such as decentralized exchanges, token issuance, and multi-party agreements.
Complexity: Support complex conditional logic, including loops and intricate computations.
Implementation: Commonly implemented on platforms like Ethereum using high-level programming languages.
Why Does OP_CAT Matter for Bitcoin L2s?
OP_CAT would prove crucial for advancing Bitcoin L2 solutions because it enhances the scripting capabilities needed for more complex and trustless Bitcoin infra. First, OP_CAT allows for covenants, enabling the construction of more complex scripts. This is essential for creating advanced transaction conditions and functionalities required for L2 solutions.
Additionally, if OP_CAT is activated, projects like StarkWareLtdare on standby to develop atop it. StarkWare has plans to leverage OP_CAT for bringing zero-knowledge (ZK) scaling to #Bitcoin to enable advanced financial instruments and apps on the network. StarkWare’s involvement here underscores the broader ecosystem's readiness to capitalize on the enhanced capabilities that OP_CAT would introduce.
As such, as the community continues to explore and test the possibilities around this proposal, the future of Bitcoin L2s looks promising and ripe with potential. At this point, reactivating OP_CAT seems like a matter of when not if!
Written by
WPeaster
This opcode has everyone talking; what does it do?
A beginner's guide 👇
Bitcoin L2s are the talk of the town, but not much of their promise has been realized yet.
What are Bitcoin's builders waiting for?
One significant proposal could help mature the Bitcoin L2 landscape: the reintroduction of OP_CAT. This opcode, which was disabled early in Bitcoin's history, could unlock new capabilities and pave the way for more sophisticated and trustless Bitcoin L2 solutions.
Let's dig into why this opcode could be so transformative for BTC 👇
What is OP_CAT?
Okay, so why is this seemingly random opcode so controversial? OP_CAT, or "Operation Concatenate" is an opcode in Bitcoin's scripting language that allows for the concatenation of two data elements.
Initially proposed by Satoshi Nakamoto, OP_CAT was disabled in 2010 due to security concerns related to its original implementation, specifically potential denial-of-service (DoS) attacks caused by unbounded memory usage.
The introduction of the Taproot upgrade in 2021 has mitigated these original concerns. Taproot enforces a maximum stack element size of 520 bytes, addressing the memory usage issue that led to OP_CAT's deactivation. With this security improvement and resurgent Bitcoin development interest, thanks to Ordinals and Runes, a movement to reintroduce OP_CAT to enhance Bitcoin's scripting capabilities is gaining steam, aiming to put more complex transaction capabilities in reach.
Are Covenants and Smart Contracts Different?
One reason why OP_CAT is so compelling is because it can actualize covenants, i.e. spending conditions, on Bitcoin. Covenants and smart contracts are both mechanisms for controlling the flow of funds in a blockchain network, but they operate in distinct ways.
Covenants:
Purpose: Restrict how funds can be spent in future transactions.
Functionality: Implement specific spending constraints, such as limiting addresses or setting conditions on fund transfers.
Complexity: Generally involves simpler, deterministic logic without loops or complex computations.
Implementation: Can be implemented using Bitcoin Script with enhancements like OP_CAT.
Smart Contracts:
Purpose: Automate a wide range of processes and transactions.
Functionality: Handle complex tasks such as decentralized exchanges, token issuance, and multi-party agreements.
Complexity: Support complex conditional logic, including loops and intricate computations.
Implementation: Commonly implemented on platforms like Ethereum using high-level programming languages.
Why Does OP_CAT Matter for Bitcoin L2s?
OP_CAT would prove crucial for advancing Bitcoin L2 solutions because it enhances the scripting capabilities needed for more complex and trustless Bitcoin infra. First, OP_CAT allows for covenants, enabling the construction of more complex scripts. This is essential for creating advanced transaction conditions and functionalities required for L2 solutions.
Additionally, if OP_CAT is activated, projects like StarkWareLtdare on standby to develop atop it. StarkWare has plans to leverage OP_CAT for bringing zero-knowledge (ZK) scaling to #Bitcoin to enable advanced financial instruments and apps on the network. StarkWare’s involvement here underscores the broader ecosystem's readiness to capitalize on the enhanced capabilities that OP_CAT would introduce.
As such, as the community continues to explore and test the possibilities around this proposal, the future of Bitcoin L2s looks promising and ripe with potential. At this point, reactivating OP_CAT seems like a matter of when not if!
Written by
WPeaster
15 days ago
Solana's no.1 perpetual DEX DriftProtocol has launched Solana's first T-Bill-backed perpetual futures in collaboration with OndoFinance a major force in the RWA narrative.
This innovative product allows users to trade perpetual futures backed by U.S. Treasury Bills, in order to offer a stable and low-risk option for traders in the volatile crypto market.
This innovative product allows users to trade perpetual futures backed by U.S. Treasury Bills, in order to offer a stable and low-risk option for traders in the volatile crypto market.
16 days ago
Jupiter, one of the biggest decentralized exchange on Solana, introduced perpetual futures trading with up to 100x leverage, marking its expansion into a comprehensive DeFi platform.
19 days ago
As at today June 14, only about 16,000 new Solana memecoins were launched but compared to previous records, there's been a decline.
This decline came in as a result of a broader market drop but it's expected to claim back up in the nearest future.
This decline came in as a result of a broader market drop but it's expected to claim back up in the nearest future.
19 days ago
🗣️ Donald Trump declares that he will “end Joe Biden's war on cryptocurrencies and ensure that the future of crypto and #Bitcoin is made in America. »
20 days ago
If you’re part of the $MIM community or hold $MIM and are not in our telegram, we’d like to invite you to join us!
We are cooking big things that we don’t want you to miss out on; get up to speed with what’s coming in the future!
https://t.me/MIMoneySol
We are cooking big things that we don’t want you to miss out on; get up to speed with what’s coming in the future!
https://t.me/MIMoneySol
21 days ago
Integrating narratives
Solving blockchain problems
Memecoins are making it funny now
Largely adopted.
Solana's future is as bright as the word bright itself.
Solving blockchain problems
Memecoins are making it funny now
Largely adopted.
Solana's future is as bright as the word bright itself.
25 days ago
Welcome to Cryptoland, where the miraculous meets the digital. Follow Alice on her journey down the rabbit hole into a world inspired by the future.
🐇 TG: https://t.me/ACLrabbithole
🐇 X: https://x.com/aliceonSOL
🐇 Web: https://aliceincryptoland....
🐇 Buy: https://degen.fund/launch/...
🐇 TG: https://t.me/ACLrabbithole
🐇 X: https://x.com/aliceonSOL
🐇 Web: https://aliceincryptoland....
🐇 Buy: https://degen.fund/launch/...
1 month ago
🚀🐾 Meow-mazing news! Our website is officially live! 🌐🔥
www.catronaut.club
Dive into the world of $CATRO and join our cosmic adventure. Ready to reach new heights? 🐱🌌 Visit us now and let's make history together!
#CatronautToken #SpaceCats #ToTheMoon #crypto #NFT #Blockchain #future #launch #Solana #CryptoCurrency
#memecoin
www.catronaut.club
Dive into the world of $CATRO and join our cosmic adventure. Ready to reach new heights? 🐱🌌 Visit us now and let's make history together!
#CatronautToken #SpaceCats #ToTheMoon #crypto #NFT #Blockchain #future #launch #Solana #CryptoCurrency
#memecoin
1 month ago
Our Gitbook is live !
Access is here: https://bullverse.gitbook....
Discover the exciting developments we have planned for the future of BullVerse.
Access is here: https://bullverse.gitbook....
Discover the exciting developments we have planned for the future of BullVerse.
2 months ago
🚨 Important Update: Unfortunately, the BullVerse Lottery is off due to a lack of participants (0). We appreciate your interest and will keep you updated on future opportunities🚀. Stay tuned!
2 months ago
Apparently people prefer to rug for peanuts
Than earn millions with a good project
So disgusting...
Don't be rotten to the core, cause u will expierence karma in the future
Than earn millions with a good project
So disgusting...
Don't be rotten to the core, cause u will expierence karma in the future
2 months ago
