Data Sources:
Data Sources:Footprint Analytics - HECO Chain Dashboard (https://footprint.cool/6yOK )
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Footprint Analytics：Overall DeFi TVL
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What are HECOs?
HECOThe full name of Huobi ECO Chain (ie: Huobi Ecological Chain) was officially launched on December 21, 2020. Its characteristics are:
Compatible with EVM, the migration cost for developers is lower, and the user experience is similar.
The TPS reaches 500, which means that when users operate, it is lower than Ethereum's Gas Fee.
HT token is the native token of Gas Fee on the payment chain.
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fromFootprint AnalyticsIt can be seen from the data that as of December 23, 2021, the overall TVL of HECO is $1.86 billion, accounting for only 0.68% of all public chains, ranking 14th among all public chains. Among the public chains that started earlier, there is no Get first mover advantage.
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Footprint Analytics：Proportion of TVL of each public chain
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Footprint Analytics：The price of HT in the past 1 year
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Footprint Analytics: TVL trends of different types of HECO
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Footprint Analytics: TVL ratio of different HECO projects
As a company that also relies on centralized exchanges and started almost at the same timeBSC（Binance Smart Chain）image description
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History of HECO
HECO was born with a golden key, backed by the powerful "dad" Huobi Exchange, and made a series of incentives and plans to promote ecological growth:
On December 21, 2020, Huobi Defi Labs announced the establishment of a USD 200 million ecological fund, which will focus on investing in high-quality projects such as HECO's DEX, Lending, Oracle, Cross-Chain, and Stablecoin.
On December 25, 2020, HECO opened the "Creator Project" registration channel for on-chain applications, providing creators with multiple benefits, including: recommendation to the Huobi Global review channel, Huobi Mining Pool provides up to 1 million U.S. dollar liquidity support, HECO ecological fund investment opportunities and HECO global marketing service support and other resources.
On May 7, 2021, the validator node election plan will be launched, and the rights will be transferred to the community to further improve its degree of decentralization.
On August 18, 2021, a $1 million developer incentive plan will be launched to encourage developers to develop and promote projects on its platform.
However, in the process of HECO's growth, the projects on the chain frequently have problems, such as:
Hash Bridge Oracle (HBO) oracle machine project: the project party made a mess
Within a week, the price of HBO dropped directly from nearly $100 to $2. The reason was that the project party charged 5 million HBO in the LP pool of HBO/USDT, which caused HBO to plummet and resulted in huge free losses for LP investors. However, according to the original plan, the 5 million HBO will be transferred to the HBO/USDT mining pool contract.
Book Finance (BOOK) Insurance Project: Secretly Issue Additional Tokens
The mining mechanism of BOOK requires users to purchase BOOK and other currencies to do liquidity mining. This mechanism can effectively increase the price of BOOK and attract users to deposit. Then the currency price of BOOK also dropped from $30 to $0.1 within a week. The reason is that the project party secretly issued additional BOOK, and then entered the pool to mine, and then kept digging and selling.
Avatar (AVAT): There are many ways to fake P pictures
At one time, Avatar said that he had passed the chain security audit, and at another time he said that the chain security audit was not rigorous, which caused the tokens to be unable to be traded normally, and the launch needed to be postponed, and the code problems of the project party were passed on to the audit. In addition, community users found in the white paper that the avatar of its founder comes from the Internet, which is the avatar of a real estate agent.
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The latest ecological incentive: HECO Master builders
According to the latest news released by HECO, HECO will launch the first phase of the Master builders activity on December 2, 2021, selecting high-quality projects from aspects such as security audit, project innovation, product maturity, data growth, community and brand reputation , and provide generous rewards for winning projects. It aims to promote the development of DeFi, GameFi, Metaverse and other business types.
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Footprint Analytics is a one-stop visual blockchain data analysis platform. Footprint assisted in solving the problem of data cleaning and integration on the chain, allowing users to enjoy the zero-threshold blockchain data analysis experience for free. Provide more than a thousand tabulation templates and a drag-and-drop drawing experience, anyone can create their own personalized data chart within 10 seconds, easily gain insight into the data on the chain, and understand the story behind the data.
About Footprint Analytics:
Footprint Analytics is a one-stop visual blockchain data analysis platform. Footprint assisted in solving the problem of data cleaning and integration on the chain, allowing users to enjoy the zero-threshold blockchain data analysis experience for free. Provide more than a thousand tabulation templates and a drag-and-drop drawing experience, anyone can create their own personalized data chart within 10 seconds, easily gain insight into the data on the chain, and understand the story behind the data.
Discord community: https://discord.gg/3HYaR6USM7
Discord community: https://discord.gg/3HYaR6USM7
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The above content is only a personal opinion, for reference and communication only, and does not constitute investment advice. If there are obvious understanding or data errors, feedback is welcome.
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This work is original by the author, please indicate the source for reprinting. Commercial reprinting needs to be authorized by the author, and those who reprint, extract or use other methods without authorization will be investigated for relevant legal responsibilities.
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