Web3Husky

HashKey Group Chief Analyst Jeffrey Ding
Recently, the highly anticipated SmartCon conference is taking place in Hong Kong, where Dr. Xiao Feng, Chairman and CEO of HashKey Group, will also deliver a keynote speech on the global payment network of compliant stablecoins. As a leading figure in the Web3 space, his focus on payments is undoubtedly exciting, signifying not only the vast space of the Web3 payment industry but also possibly hinting at an imminent explosion of Web3 payments.
Broad prospects, but numerous challenges; this is the true portrayal of PayFi at present.
Compliance and high-difficulty risk management are necessary conditions, determining whether the project can have a long-term future. From a long-term perspective, we need to see the positive development of current regulatory compliance, the compliance path gradually accelerating. For a PayFi project, in addition to innovative play styles and strengthening risk management, selecting partners with compliance licenses, whether stablecoins or exchanges, is of utmost importance. Once a synergy is formed, it undoubtedly opens up a broad landscape with great potential.

Recently, the altcoins have plunged and pulled back, and even made many investors have the illusion that the bull market has ended. Defi, Meme, Depin, Ai... No matter which track, no matter whether it is the first or second dragon, they have all fallen to pieces. But strangely, Bitcoin and Ethereum have not had a big pullback, as if the joys and sorrows of big cakes, concubines and altcoins are not connected.
To find out the reason, we have to think from the starting point of this bull market. In the last round, with the collapse of Luna and Ftx, the crypto market entered a long dark night. However, with the expected approval of BTC spot ETF and the clear expectation of US dollar interest rate cuts, Bitcoin quickly rose from 20,000 US dollars to a terrifying 70,000 US dollars.

Author: Compliance Researcher
The Hong Kong virtual asset trading platform withdrawal policy was officially implemented on May 31, and non-compliant exchanges will cease operations thereafter. As the deadline approaches, nearly half of the VATP applicants, including OKX and Kucoin, have withdrawn, sparking market discussions. Among them, there are some voices that FUD Hong Kong: "Hong Kong is already a relic of a financial center" and "Hong Kong Web3 has ended as soon as it began." But is this really the case? What attitude should regulators take to welcome Web3?
Putting the conclusion first, Hong Kong, as the bridgehead of Web3 in the East, has just begun its game with the West.

Bermuda, Bermuda, May 27th, 2024, Chainwire
HashKey Global announced the launch of LaunchPool and initiated the first project Polyhedra Network（ZK) pledge to earn campaign, aiming to create a new trading and participation model, enhance user engagement and loyalty, and provide a platform for promotion and development for emerging projects.
HashKey Global's Launchpool platform offers users an alternative cryptocurrency pledging solution. Users may pledge their existing cryptocurrencies to the pool and may redeem tokens at any time, adjusting their investment strategy flexibly to adapt to market changes. This platform not only provides projects with the opportunity for initial token distribution, enhancing their visibility, but also allows investors early access to innovative projects and potentially earning rewards through pledging.
As the flagship global digital asset exchange under HashKey Group, HashKey Global provides licensed digital asset trading services to users worldwide (save for restricted countries and regions). HashKey Global has been granted a license from the Bermuda Monetary Authority (BMA). HashKey Global Launchpool is the first platform of its kind among globally licensed exchanges to offer pledging for new coins. HashKey Global's Launchpool platform provides investor asset protection and compliance measures such as AML, KYC, and KYT.
In recent times, Ethereum assets have gained further recognition in the market, with significant progress also seen in Ethereum Layer 2 networks such as Taiko, zkSync, Scroll, among others. HashKey Global Launchpool has launched its first project, Polyhedra Network (ZK), a star project based on zero-knowledge proofs interoperability protocol. It provides users with approximately 325,000 ZK tokens, valued at around $500,000 USDT in total, as rewards. The event runs from May 30th to June 4th, 2024.

For more details users can visit: https://support.global.hashkey.com/hc/en-us/articles/14133227056796-Introducing-1st-HashKey-Launchpool-Polyhedra-Network-ZK-Stake-USDT-to-Earn-from-325-000-ZK-Prize-Pool
About HashKey Global
HashKey Global is one of the flagship global digital asset exchanges under HashKey Group, offering licensed digital asset trading services to users worldwide. HashKey Global has obtained a license from the Bermuda Monetary Authority with the potential to provide mainstream trading and service products such as LaunchPad, contracts and leverage trading.

According to media news, Hashkey Exchange announced that it will cooperate with mainstream traditional custody banks to fully support the custody and trading business of virtual asset spot ETFs. Through this cooperation, Hashkey Exchange will be able to provide professional custody services to ensure the security of virtual asset spot ETF assets. performance and reliability. In addition, Hashkey Exchange said it plans to apply for a Type 13 regulated activity (provision of depositary services for relevant collective investment schemes) license.
As a licensed virtual asset exchange in Hong Kong, HashKey Exchange has been recognized by many institutional and corporate investors for its compliance, fund protection, and platform security services. Due to their high trust in its security and professionalism, HashKey Exchange continues to choose to conduct transactions through HashKey Exchange. Digital currency investment layout.

Original title: Looking at the effectiveness of Hong Kong’s Web3 policy from the current development status of compliant exchanges
Original link: https://www.ftchinese.com/story/001102060
He Yizhi: The rapid growth of Web3 companies represented by Hashkey has given the industry a new understanding of "Hong Kong Web3 speed". This performance is an affirmation of the innovative breakthroughs in the development strategy of Hong Kong's financial center.
In January 2024, at the 17th Asian Financial Forum (AFF), Hong Kong Chief Executive Li Jiachao said: "The Hong Kong SAR government is committed to developing green finance and the Web3 ecosystem and seizing development opportunities." This is the first time since October 2022 that the Hong Kong government More than a year after the official release of the local crypto-asset development policy declaration, the Hong Kong government once again emphasized the important strategic role of Web3 development in the construction and development of Hong Kong's financial center at an important international financial event.

Yesterday, the two-day 17th Asian Financial Forum opened in Hong Kong.
It aims to gather professional forces to pursue opportunities in China.​
Chief Executive of the Hong Kong Special Administrative Region Lee Ka-chiu said in his speech at the forum,
"One country, two systems" has brought long-term opportunities to Hong Kong's financial industry, allowing Hong Kong's financial industry to flourish even in the face of severe challenges. Hong Kong will continue to serve as a "super connector" and "super value-added person" for Asia and the world. businesses and economies to create opportunities.​
As the focus of Hong Kong's future strategic layout, there is a lot of discussion and attention on how to further promote and implement the Web3 concept in Hong Kong.

On December 28, Sui Chain Inscription ISSP completed Free Mint. In just 2 days, more than 10,000 addresses participated in Mint more than 2 million times. Due to the influx of too many users in a short period of time, the Sui chain's TPS stably exceeded 1,000 for the first time. On December 29, ISSP completed the transfer of any number of inscriptions and launched the trading market function. Up to now, the ISSP transaction amount has exceeded 175W Sui, and the number of currency holding addresses has exceeded 20,000.

The Fomo mood of the Inscription project made users excited, but the technical support could not keep up, causing users to feel lonely, and there were countless examples of eventual failure. ISSP's innovative concepts and extremely fast development speed have also been recognized by well-known institutions: ISSP not only became the first inscription protocol on Sui Network to be supported by OKX Web3 wallet, but also received investment from KuCoin Lab on January 2.

Sui’s storage fee model ensures that validators can maintain their infrastructure and build a fund to enhance the stability of the network. In a previous article about Sui gas fees, we mentioned the storage fee part of the Sui Gas fee calculation. The storage fee refers to the economic cost required to store data on the Sui network.

Storage fees for Sui remain fixed, and at the time of writing, are set at 76 MIST per storage unit, or 0.0000076 SUI.

Sui’s strong support for on-chain data makes storage fees an important part of its token economics. However, the overall design simplifies the problem by charging the storage fee as part of the gas fee, a one-time fee for permanent storage. In addition, users will receive rebates when they delete data they own from Sui.

Recently, Sui Network released a new section - Sui Ecosystem Job Board, with a total of 20+ Sui network ecological projects recruiting contract development engineers, market analysts, data analysts, sales, back-end development, front-end development, technical content, marketing Operations etc. If you want to join Web3 and help shape the future of Sui Network, you can click to view the job requirements:

https://jobs.sui.io/jobs?page=4

Introduction to some ecological projects and vacant positions

LayerZero was founded in 2021 with the vision of creating a cross-chain developer community to build dapps that are no longer limited by the capabilities of a single blockchain. Leveraging LayerZero’s simple universal messaging protocol, builders will develop cross-chain dapps designed to unify the functionality of various blockchains.

This article comes from Sui network Developer Relations @0xShayan

Compiled by: Sui World

When having one-on-one interactions with developers and ecosystem developers on the spot, one of the most common questions Sui Network is asked is "Why choose Sui Network?"

We take a closer look at what makes Sui unique, that is, why do developers choose Sui Network? This series of articles is mainly divided into five parts to explain the innovations of Sui Network, which are:

1. Sui Move language

2. Consensus and parallel execution

3. Cryptography

4. Token Economics

GiroSwap is the first scalable dynamic NFT liquidity application protocol built on the Sui ecosystem. It is the winning project of the Sui Vietnam Hackathon and has now launched on the mainnet. GiroSwap is a one-stop aggregation of NFT and token trading. platform.

In previous tweets by Sui World, GiroSwap's product features that support dynamic NFT were deeply introduced and analyzed. Dynamic NFT is in the spotlight. What are the development opportunities for the Sui ecosystem? This article will explain how to become an early supporter of GiroSwap and capture the value of the product's rapid development?​

After the turmoil of the past two years, the NFT market seems to have entered a "cold winter", with prices of various blue chips continuing to fall. Investigating the root cause, static NFTs dominated by PFP in the 1.0 stage have fallen into a growth bottleneck. In the 2.0 stage, new narratives are needed to open up the incremental market. Dynamic NFTs are expected to become an emerging hot spot in the market.

However, dynamic NFT has strict requirements on underlying facilities, and the emergence of the emerging public chain Sui has successfully solved the problem. Sui uses the Move Virtual Machine (MoveVM) and the Move programming language to implement smart contracts, lowering the boundaries for creators to innovate through dynamic NFTs, thereby unlocking more types of use cases and more engaging applications and experiences. Developers can implement dynamic NFTs, upgrade, bundle, and group them, and generate feedback on-chain in real time based on the NFT's behavioral changes.

If we talk about high-degree-of-freedom sandbox games, "The Sims" produced and developed by Maxis Software in 2000 and published by EA is a classic that must be mentioned. In more than 20 years, "The Sims" has successively launched 2, 3, and 4 generations, as well as more than 70 expansion packs, and once became the highest-selling series of video games in the world. "The Sims" is like a microcosm of the real world: after you create a villain, you can decide his or her future based on your mood. Who the villain marries and who he quarrels with must follow the player's arrangements. Some people regard "The Sims" as their own life simulator, experiencing dreams that are unattainable in reality.

SUI Ecological Experience Notes is an introduction and experience of Sui Network ecological projects initiated by Sui World, including Defi, Gamefi, DAO and other tracks. Welcome to leave a message about the projects you are interested in.

Wisp Swap is the leading Defi protocol on the SUI Network, providing a full set of financial products built on the Sui Network, including trade, lending, staking, liquidity mining and launchpad, which can help improve capital efficiency on Sui.

In addition, Wisp Swap will be the first to release a platform on Sui that can provide a decentralized prediction market to help users better obtain benefits. Wisp Swap's token economic model uses Ve(3,3). Ve comes from Curve's VeCRV model, and (3,3) comes from OlympusDAO's 3v3 game. The combination of the two can balance the holders and traders in the supply, giving Projects that have joined the Ve(3,3) protocol (especially the initial projects) have brought more protocol income and at the same time improved the efficiency of award issuance when leasing liquidity.​

DeepBook, the Sui native central limit order book (CLOB) DEX DeepBook built by MovEX and the Sui Foundation, is completing final testing and is expected to be launched in a few weeks. Community builders are currently invited to integrate and test DeepBook. Application builders can now Its application integrates with DeepBook to be ready when the order book is fully tested and trading begins.

According to previous news, Sui’s decentralized exchange MovEX and the Sui Foundation jointly built DeepBook to bring deep liquidity to all DeFi protocols on Sui and will cooperate with top market makers to provide better liquidity depth. And DeepBook has been merged into Sui's official framework. According to news in April, the MovEX team has completed the basic construction of DeepBook. DeepBook requires no permission and is fully integrated into Sui's framework. DeepBook documentation is publicly available.