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The Future Development and Challenges of Alkanes
Today, just now, @lorenzonical updated a blog on why @unisat_wallet supports the #Alkanes protocol, written very objectively. After reading, here's a brief summary: First of all, all asset ownership is directly bound to UTXO, allowing users to send assets directly during transactions. Unlike trading various tokens on EVM where you need to first send to the contract address and then the contract address performs the next step of the transaction, Alkanes innovatively integrates the Runes protocol so that a transfer transaction can be done without calling a smart contract. This advantage is particularly important on BTC, significantly reducing costs. Additionally, because Alkanes is fully compatible with Runes' asset identification standards, the development difficulty is greatly reduced when implementing wallet and blockchain explorer functionalities, etc. What about Wasm? What is Wasm? Another important point mentioned in the article is that Alkanes has implemented a relatively usable open-source framework for smart contracts on the BTC mainnet using WebAssembly, also known as Wasm, and the completion level is very high. Many people are hearing about WebAssembly for the first time, so let me briefly introduce: Wasm is an efficient, low-level bytecode format designed for developers to run code on the Web with near-native performance. Wasm allows coding in languages like C, C++, and Rust, far surpassing traditional JavaScript in performance. It can run in various environments and operates in a sandboxed environment, compatible with the browser's security model, ensuring that code execution does not harm user devices. Meanwhile, Wasm can seamlessly cooperate with JavaScript (which I don't quite understand and need to study more). In short, WebAssembly is a technology that makes web development more efficient and powerful, compensating for JavaScript's performance shortcomings while maintaining cross-platform and security features. Lorenzo's blog is quite objective because Alkanes indeed has its drawbacks. First, there are security issues with token contracts; since it’s a new protocol, there’s no audit platform in the development environment, and users cannot determine if the token contract is safe, such as if it can be minted. Therefore, developers from the project side need to actively provide the source code. Similarly, because it uses a UTXO-based asset model, if OP_RETURN is not included during the transaction, the asset will be burned. For instance, if you transfer and treat a UTXO containing #Methane assets simply as BTC or consume it as gas, the asset cannot be recovered. Therefore, everyone must use wallets that support the protocol for asset management, and I recommend using @unisat_wallet, the best wallet in the BTC ecosystem.
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Selected Projects of the Studio: Camp Network
The background has been discussed a lot, just to mention that the funding is 30M, and the rest doesn't need to be understood too much. First, the test network faucet https://faucet.campnetwork.xyz requires 3 mainnet TX. For those who want to create a small account, you can withdraw from the exchange and then brush. With 1 GAS, you can manage 3 self-transfers of 3U. Now let's get to the main topic, the layer 3 tasks (the preparation on the official website will be done in the next few days, and I'll write after it's done). Enter: https://app.layer3.xyz/zh-cn/campaigns/summit-series-on-layer3… Most of the tasks inside are social tasks, and all social tasks are fake tasks. There are a few that require Minting NFTs, and I have found the hexadecimal for you. If you don’t know what hexadecimal is, then don’t bother. I forgot which corresponds to which specifically, but here are the details: 0x40d097c3000000000000000000000000+ Remove the address without 0x and transfer to 0xa0D4687483F049c53e6EC8cBCbc0332C74180168 (the NFT for the second task) 0xae873a3f transfers to 0x0b0A5B8e848b27a05D5cf45CAab72BC82dF48546 0x14f710fe transfers to 0x37Cbfa07386dD09297575e6C699fe45611AC12FE. Directly using hexadecimal transfers can be simpler, and there's no need to operate on the task page. After the transfer, just go to verify it.
Now the Gamer's Grove: ScorePlay task cannot be completed for now, so it can be temporarily skipped. Finally, let's talk about why to participate? From the data of L3, it seems very tireless. In this era of technology-driven scripts, only a few thousand people have participated in a task with 30M funding. If you don’t do this, then what will you do? Participating won't lead to failure; although the bonus period has passed, putting effort into it is definitely better than working a job.
The background has been discussed a lot, just to mention that the funding is 30M, and the rest doesn't need to be understood too much. First, the test network faucet https://faucet.campnetwork.xyz requires 3 mainnet TX. For those who want to create a small account, you can withdraw from the exchange and then brush. With 1 GAS, you can manage 3 self-transfers of 3U. Now let's get to the main topic, the layer 3 tasks (the preparation on the official website will be done in the next few days, and I'll write after it's done). Enter: https://app.layer3.xyz/zh-cn/campaigns/summit-series-on-layer3… Most of the tasks inside are social tasks, and all social tasks are fake tasks. There are a few that require Minting NFTs, and I have found the hexadecimal for you. If you don’t know what hexadecimal is, then don’t bother. I forgot which corresponds to which specifically, but here are the details: 0x40d097c3000000000000000000000000+ Remove the address without 0x and transfer to 0xa0D4687483F049c53e6EC8cBCbc0332C74180168 (the NFT for the second task) 0xae873a3f transfers to 0x0b0A5B8e848b27a05D5cf45CAab72BC82dF48546 0x14f710fe transfers to 0x37Cbfa07386dD09297575e6C699fe45611AC12FE. Directly using hexadecimal transfers can be simpler, and there's no need to operate on the task page. After the transfer, just go to verify it.
Now the Gamer's Grove: ScorePlay task cannot be completed for now, so it can be temporarily skipped. Finally, let's talk about why to participate? From the data of L3, it seems very tireless. In this era of technology-driven scripts, only a few thousand people have participated in a task with 30M funding. If you don’t do this, then what will you do? Participating won't lead to failure; although the bonus period has passed, putting effort into it is definitely better than working a job.
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#Alkanes Recently, more and more people have been discussing the Alkanes protocol, and many newcomers have encountered some minor issues. Here are some simple answers: 1. If you did not buy using the Oly wallet, but purchased with Unisat or OKX wallets, how can you avoid burning? First, if you purchase using the Oly wallet, your payment address should be a Segwit address. After paying with a Segwit address, #METHANE $BTC or other protocol tokens will be sent to your Taproot address as shown below.
This can effectively prevent your assets from being burned. Now, to the point: if you purchased with OKX or Unisat wallets using a Taproot address (which is the bc1p address), the Alkanes assets and your BTC will be in the same address. To prevent burning Alkanes assets, the best method is to do nothing. If you really need to use this BTC, then when transferring, pay close attention to the UTXO. If there is a UTXO less than 1000 sat being used, stop immediately.
Because I did not import any wallet with Alkanes assets, it shows 1000 sat here, but in reality, the Alkanes asset is 546 sat. You can check your UTXO on the webpage https://unisat.io/utxo.
Assets of 546 sat are generally in a locked state and will not be burned as gas, but special cases cannot be ruled out, so be careful during transfers! Currently, it is known that 4% of METHANE has been burned. Last week, Unisat said it would support the Alkanes protocol, which should be coming soon, so you can wait patiently. 2. If you don't want to sell a piece and want to split, how should you do it? Taking METHANE as an example, one piece is 10,000; if you want to sell 100, the simplest method is to initiate a transfer from the Oly wallet to your own address or another address of yours.
For merging, the same rule applies; just send 20,000 to your address to merge. #BTC Currently, the overall development of the protocol is good, making steady progress without explosive growth or PVP. On the 27th, there will be representatives from the Oly project speaking at the BTC conference, which is something to look forward to. There will also be a public beta for AMM and mainnet deployment, which is very positive. If there is to be a BTC protocol emerging this year, it is 90% likely to be Alkanes.
This can effectively prevent your assets from being burned. Now, to the point: if you purchased with OKX or Unisat wallets using a Taproot address (which is the bc1p address), the Alkanes assets and your BTC will be in the same address. To prevent burning Alkanes assets, the best method is to do nothing. If you really need to use this BTC, then when transferring, pay close attention to the UTXO. If there is a UTXO less than 1000 sat being used, stop immediately.
Because I did not import any wallet with Alkanes assets, it shows 1000 sat here, but in reality, the Alkanes asset is 546 sat. You can check your UTXO on the webpage https://unisat.io/utxo.
Assets of 546 sat are generally in a locked state and will not be burned as gas, but special cases cannot be ruled out, so be careful during transfers! Currently, it is known that 4% of METHANE has been burned. Last week, Unisat said it would support the Alkanes protocol, which should be coming soon, so you can wait patiently. 2. If you don't want to sell a piece and want to split, how should you do it? Taking METHANE as an example, one piece is 10,000; if you want to sell 100, the simplest method is to initiate a transfer from the Oly wallet to your own address or another address of yours.
For merging, the same rule applies; just send 20,000 to your address to merge. #BTC Currently, the overall development of the protocol is good, making steady progress without explosive growth or PVP. On the 27th, there will be representatives from the Oly project speaking at the BTC conference, which is something to look forward to. There will also be a public beta for AMM and mainnet deployment, which is very positive. If there is to be a BTC protocol emerging this year, it is 90% likely to be Alkanes.
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Popular Project #AsterDEX
@Aster_DEX
A project supported by CZ, a decentralized perpetual contract exchange, invested by Binance Labs (now YZi Labs), competing with Binance and hype.
That's the background, simple yet powerful. Let me share my personal summary of the method.
If you are doing it yourself, use two invitation links and then primarily use the account at the bottom, as there are two layers of invitation rewards for depositing money.
1. First, the points for depositing money
It is recommended to convert USDT to USDF, which provides a 20x points bonus. In simple terms, depositing 100U is equivalent to 2000U. Also, for LP creation, it is recommended to create an LP of USDT/USDF, as it basically won’t have impermanent loss while enjoying a 35X points bonus. Similarly, depositing 100U of LP is equivalent to depositing 3500U.
2. Contract Trading
Although the platform has a contract grid, it is not highly recommended. From the experience gained from trading BP, the trading volume is not large, but if you encounter one-sided market movements, it can be very risky. Directly hedge by using two accounts to trade contracts. The wear and tear of 1Wu is roughly around 0.06%, and the current market depth of the platform is quite average, so you can directly open market orders because the fees for market orders seem to be lower than those for limit orders.
$BTC
The key point is, if you have deposited money, it is recommended to trade contracts worth 5000 or 10000U daily, as this gives a bonus to the AU points (the points for depositing money) for the next day. 5000U gives 2X and 1W gives 2.4X.
This is my personal understanding; feel free to point out any issues. I am preparing to catch the last train; CZ won’t let me down, right?
@Aster_DEX
A project supported by CZ, a decentralized perpetual contract exchange, invested by Binance Labs (now YZi Labs), competing with Binance and hype.
That's the background, simple yet powerful. Let me share my personal summary of the method.
If you are doing it yourself, use two invitation links and then primarily use the account at the bottom, as there are two layers of invitation rewards for depositing money.
1. First, the points for depositing money
It is recommended to convert USDT to USDF, which provides a 20x points bonus. In simple terms, depositing 100U is equivalent to 2000U. Also, for LP creation, it is recommended to create an LP of USDT/USDF, as it basically won’t have impermanent loss while enjoying a 35X points bonus. Similarly, depositing 100U of LP is equivalent to depositing 3500U.
2. Contract Trading
Although the platform has a contract grid, it is not highly recommended. From the experience gained from trading BP, the trading volume is not large, but if you encounter one-sided market movements, it can be very risky. Directly hedge by using two accounts to trade contracts. The wear and tear of 1Wu is roughly around 0.06%, and the current market depth of the platform is quite average, so you can directly open market orders because the fees for market orders seem to be lower than those for limit orders.
$BTC
The key point is, if you have deposited money, it is recommended to trade contracts worth 5000 or 10000U daily, as this gives a bonus to the AU points (the points for depositing money) for the next day. 5000U gives 2X and 1W gives 2.4X.
This is my personal understanding; feel free to point out any issues. I am preparing to catch the last train; CZ won’t let me down, right?
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Only Bitcoin can be held for a long time #Alkanes
🚀🚀Explore 1 Protocol: The rising star of smart contracts in Bitcoin L1!
Recently, the Bitcoin ecosystem is ready to move, and various protocols have emerged one after another. Some former entrepreneurial teams have also started a second venture. The entire market is very lively. Let me talk about why I am optimistic about Alkanes. First of all, the most important point is that the project party is particularly good. The founders and project parties have always actively listened to the opinions of the community and communicated with the community on progress. This afternoon, there was an offline meeting in Shenzhen. The founders were in the early morning, but they still showed the internal testing of AMM via video connection.
What Alkanes wants to do is Defi on BTC, and because it relies on the Bitcoin mainnet, it is more secure than protocols that rely on side chains or Layer 2. And it supports more complex on-chain applications to fill the gap in the Bitcoin ecosystem in the DeFi field. Some people always say that there is no need for applications on BTC, but there is definitely more than no, and the benefits are obvious. Similarly, because the overall development of the Bitcoin ecosystem is still in its early stages, Alkanes may face competition with other protocols (such as Runes, RGB), but there are too many blank spaces in a market as large as BTC. Competition will only make both parties go further. In the past 23 years, the inscription atom blue box has been growing at the same time, so I think that Brc20 and Runes have never been hostile, but should grow together. The Alkanes protocol implements smart contract functions through the UTXO structure, maintaining a high degree of security with the Bitcoin main network. It draws on the Runes protocol but is more extensible and open. It can be likened to one being "open source Android" and the other being "closed iOS". The founder of the team will also attend this year's BTC conference, so you can look forward to it. At present, the entire protocol is still in a relatively early stage. The big players do not have many chips in their hands and cannot complete the control of the market, so they are now absorbing funds in a sideways market. Waiting for a fire to ignite the entire BTC ecosystem, BTC 1 million this year
If the protocol leader #METHAN reaches 1000U per piece, I will take out 5 for lottery #Runes #brc20
🚀🚀Explore 1 Protocol: The rising star of smart contracts in Bitcoin L1!
Recently, the Bitcoin ecosystem is ready to move, and various protocols have emerged one after another. Some former entrepreneurial teams have also started a second venture. The entire market is very lively. Let me talk about why I am optimistic about Alkanes. First of all, the most important point is that the project party is particularly good. The founders and project parties have always actively listened to the opinions of the community and communicated with the community on progress. This afternoon, there was an offline meeting in Shenzhen. The founders were in the early morning, but they still showed the internal testing of AMM via video connection.
What Alkanes wants to do is Defi on BTC, and because it relies on the Bitcoin mainnet, it is more secure than protocols that rely on side chains or Layer 2. And it supports more complex on-chain applications to fill the gap in the Bitcoin ecosystem in the DeFi field. Some people always say that there is no need for applications on BTC, but there is definitely more than no, and the benefits are obvious. Similarly, because the overall development of the Bitcoin ecosystem is still in its early stages, Alkanes may face competition with other protocols (such as Runes, RGB), but there are too many blank spaces in a market as large as BTC. Competition will only make both parties go further. In the past 23 years, the inscription atom blue box has been growing at the same time, so I think that Brc20 and Runes have never been hostile, but should grow together. The Alkanes protocol implements smart contract functions through the UTXO structure, maintaining a high degree of security with the Bitcoin main network. It draws on the Runes protocol but is more extensible and open. It can be likened to one being "open source Android" and the other being "closed iOS". The founder of the team will also attend this year's BTC conference, so you can look forward to it. At present, the entire protocol is still in a relatively early stage. The big players do not have many chips in their hands and cannot complete the control of the market, so they are now absorbing funds in a sideways market. Waiting for a fire to ignite the entire BTC ecosystem, BTC 1 million this year
If the protocol leader #METHAN reaches 1000U per piece, I will take out 5 for lottery #Runes #brc20
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