IOSG: Imagine the first Layer 2 solution that ran out of DeFi

, reprinted by Odaily with authorization.

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What is Layer 2 technology?

More specifically, Layer 2 technology builds on existing Layer 1 blockchains to solve their fundamental problems, especially scalability issues such as slow transfer speeds and low throughput.

Why do we need Layer 2 solutions?

The need for Layer 2 solutions originally came from the issue of scalability, which arguably remains the biggest pain point in the blockchain industry. At present, Layer 2 solutions have been regarded as an important part of scalability solutions in the blockchain field.

*ETH 2.0 expansion road

Layer 2 current classification

proof of fraud

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proof of fraud

Validity certificate

Fraud proofs provide evidence that state transitions were incorrect. They are optimistic about the world because of the assumption that blocks only represent the correct state of L2 data. But in reality, the submitted block may contain the wrong state.

The main advantage of fraud proofs is that they are not required for every state transition, but only for failures. Therefore, they require fewer computing resources and are more suitable for environments with limited scalability.

Validity certificate

In a proof of validity, a representation of some off-chain computation is delivered to a smart contract. A smart contract only updates its state after a computation has been proven to be valid.

The great advantage of proof of validity is that the state on the blockchain is always correct and can be trusted instantly.

From the figure below, we can compare different Layer 2 solutions in terms of security, throughput, availability, etc.:

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recent developments in the field

2020 is a year of rapid development of Layer 2 technology. Many projects have not only launched their mainnets, but have also started partnering with different DAPPs to trial their technology. Some recent Layer 2 project collaborations are listed below:

in conclusion

Among the projects that provide Layer 2 solutions, Optimistic Rollups may be the winner in the short term because Optimistic Rollups are highly compatible with existing ETH development tools.

IOSG Ventures is also looking forward to the interactive development of different Layer 2 solutions. If they can work together without compromising security, capital efficiency, then we are likely to see a world where Layer 2 solutions thrive.

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Part.2 Industry Pulse

FTX will soon list equity token spot and contracts of Paypal, Zoom, Weilai, Twitter and other companies

*Derivatives

Cryptocurrency derivatives trading platform FTX will launch Square (SQ), PayPal (PYPL), MicroStrategy (MSTR), Moderna (MRNA), Zoom (ZM), Weilai Nio (NIO), Twitter (TWTR), Spot and quarterly contracts for equity tokens of Uber (UBER) and NVIDIA (NVDA).

DeFi project Yam Finance is about to launch the insurance agreement Umbrella Protocol

*Insurance agreement

YAM is currently developing an Alpha test version, after which it will be tested in the community. The core component of the Umbrella Protocol is the MetaPool, where the party providing protection can store funds, and the party seeking protection receives a premium. Each MetaPool contains multiple Coverage Pools, and each Coverage Pool has a specific agreement or contract. A party seeking protection may seek protection by accessing these contracts or agreements.

Ethereum Mutual Insurance Project Nexus Mutual’s Total Lockup Volume Reaches $89.9 Million, A Record High

*Insurance

According to DeFi Pulse data, the total lock-up volume of the Ethereum mutual insurance project Nexus Mutual (NXM) reached 89.9 million US dollars, a record high. According to nexustracker data, Nexus Mutual's current effective insurance coverage is more than $51.41 million.

Benchmark, an on-chain income aggregator that can isolate underlying assets from income, is coming soon

*On-chain income aggregator

An anonymous developer announced the upcoming launch of Benchmark, which can isolate the income from the assets that generate the income, so that Token holders can sell their income rights within a fixed period of time, thereby locking in profits and obtaining funds in a timely manner, while the purchasers of the income rights do not have to Buy and mortgage the underlying assets without worrying about the risk of mortgage and liquidation.

Decentralized trading protocol Bancor announces liquidity mining plan, the first batch will support 8 fund pools

*Liquidity mining

The first batch of BNT liquidity mining will support 6 large capital pools ETH, WBTC, USDT, USDC, DAI, LINK and 2 medium-sized capital pools OCEAN and renBTC, among which 100,000 to 200,000 will be allocated to large capital pools every week BNT, and distribute 10,000 to 20,000 BNT to medium-sized fund pools. Users who will provide liquidity to the eight proposed pools will be rewarded in BNT starting Nov. 16 and when the program finally launches, Bancor said.

DeFi fixed rate generation protocol 88mph restarted a new round of liquidity mining on November 21

*Liquidity mining

The newly launched liquidity mining will also last for 14 days, and will distribute 88,000 MPH Tokens to participating users. Users can obtain MPH Tokens by depositing aUSDC, cUSDC, cUNI, yUSD and ycrvSBTC tokens and purchasing floating interest bonds. However, two days after the start of the mining activity, the attack was shut down urgently due to a contract loophole. The project team responded quickly and transferred the funds safely, and completed the loophole repair in less than 24 hours.

On-chain options protocol Opyn launched 5 options products based on ETH, UNI and WETH

*ETH2.0

*On-chain options

The five new option products are WETH put options with an exercise price of $460 due on December 4, ETH call options with an exercise price of $500 due on December 25, and an exercise price of $640 with an expiration date of December 25. ETH calls in USD, UNI puts with a strike price of $3.5 on December 25 and UNI calls with a strike price of $4 on December 25.

The person in charge of the Ethereum 2.0 project believes that the start threshold of the ETH 2.0 genesis block can be lowered to 100,000 ETH

The person in charge, Danny Ryan, said, "I personally think that as long as there are more than 100,000 ETH in the Ethereum 2.0 deposit contract, it is enough. It makes sense to lower the threshold to prevent Ethereum from being in trouble for too long." As of now, the Ethereum 2.0 deposit The contract address has received 104,416 ETH. If the minimum ETH deposit (524,288) can be met before 7 days on December 1, the Ethereum 2.0 network will be launched on that day; Days later.

The asset cross-chain protocol Ren has added a multi-chain support function for its RenVM, which can cross-chain seven types of assets to Ethereum and Binance Smart Chain

*ETH 2.0

*Cross-chain

Ren Protocol, an asset cross-chain protocol, announced that its RenVM has added multi-chain support, and has upgraded the cross-chain SDK RenJS library. Through this upgrade, the following seven types of assets will be able to cross-chain to Ethereum and Binance Smart Chain, including Bitcoin (BTC), Bitcoin Cash (BCH), DigiByte (DGB), Dogecoin (DOGE), Filecoin (FIL), Terra (LUNA) and Zcash (ZEC).

*DAO

Vitalik: The expansion plan Rollup may affect the technical specifications of the second phase of Ethereum 2.0, which is basically in a frozen state

Vitalik Buterin said that the technical specifications of the second phase of Ethereum 2.0 are basically in a frozen state until the expansion plan Rollup's plan for data sharding is not confirmed. He said that Ethereum 2.0 can achieve scalability through Rollup in the first stage, processing 100,000 transactions per second, so adding built-in computing shards is useless. "The best understanding is that Rollup is a kind of computing. piece."

*ETH 2.0

DAO Platform SubDAO Receives Funding from Web 3 Foundation

Web 3 Foundation Grant has updated the funding review list and added SubDAO (subdao.network), a DAO platform focused on solving the diversified governance of the Substrate chain. SubDAO is a Substrate-based platform dedicated to creating a platform that allows any organization to create and manage cross-chain DAO organizations. It is also the first incubation project of the PAKA Labs accelerator.

*DEX

Offchain Labs, the Arbitrum Rollup development team of the Ethereum expansion program, launched the Arbitrum Burner wallet. This application is forked from Burner and can easily transfer tokens such as ETH on the Arbitrum Rollup test chain.

L2 Lab, which focuses on the second-layer protocol, launched the decentralized exchange ZKSwap on the Ethereum Ropsten test network

Based on the ZK-Rollup technology of the two-layer expansion scheme, the project realizes the function of Uniswap on the two-layer network of Ethereum, which can realize frictionless and real-time exchange functions. L2 Lab plans to promote the Layer 2 DEX exchange standard, so that all existing DEXs can seamlessly access and use ZKSwap's two-layer network exchange protocol.

*YFI

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Part.3 Investment and financing events

*NEAR

The venture capital fund Polychain bought 100 YFI again, holding a total of 2% of the total supply of Token

Messari CEO Ryan Selkis tweeted that Polychain Capital, an encrypted venture capital fund, purchased 100 YFI Tokens again. Polychain currently holds 2% of YFI's supply of Tokens. It is not clear when Polychain Capital bought YFI and the specific price, but it may have bought Token when YFI rose and contributed to the rapid price fluctuations.

Mintbase, an NFT trading market, has completed a $1 million seed round of financing and will deploy it on the NEAR platform

Mintbase, an NFT trading market, completed a $1 million seed round of financing to promote the large-scale adoption of NFT (non-homogeneous tokens). Participators in this round of financing include Sino Global Capital, Woodstock Fund, Sustany Capital, D1 Ventures, Animoca Brands , Block Oracle Capital, Arweave and other institutional investors, as well as angel investors including Lin Hou, Luis Moure,Yin Cao (曹阴), etc.

Note: Mintbase is a marketplace for buying, selling and minting NFTs. Allowing businesses and creatives to launch their own stores is a proven smart contract. Currently, Mintbase has 949 independently deployed smart contracts (stores), minted more than 45,000 NFTs, and has more than 80,000 transactions on Ethereum. In the future, it plans to rewrite all smart contracts from Solidity to Rust and deploy them in open Network platform NEAR Protocol's WASM compiler for cheaper and faster transactions.

Digital asset security firm Fireblocks completes $30 million Series B round led by Paradigm

*DEX

* Digital assets