Recently, DeBank announced plans for DeBank Chain, and another well-known player has joined the altchain craze. Official information shows that DeBank Chain will be built as a chain focused on social interaction. The network will add an asset layer to social behavior to revolutionize social interaction. DeBank Chain is now open for testnet and the mainnet will be available before 2024. Testnet chain browser data shows that the number of wallet addresses on the chain exceeds 21,000.

The opening of the test network also allowed the Lu Mao Party to see the potential of getting rich. However, in recent years, various incidents of losing money through hair-raising have occurred frequently. Can DeBanks chain-issuing plan still allow the wool party to make money?

DeBank Chain: Low-cost social chain

To understand DeBank Chain, we need to start with DeBank. DeBank is an established DeFi management panel that allows users to track their investment portfolios and use integrated trading functions for investment operations.

In December 2021, DeBank completed US$25 million in equity financing at a valuation of US$200 million, led by Sequoia China, with participation from Dragonfly, Hash Global, Youbi and Coinbase Venture, Crypto.com, Circle, and Ledger.

In January 2022, Debank launched the Web3 social platform and Web 3 ID function. Users can follow whale transaction dynamics, NFT market trends, track Mirror article updates, and real-time on-chain activities of Web3 friends through the platform.

In October 2022, DeBank launched DeBank Hi, a Web3 native communication application.

As an old and well-known project, most investors (and media friends who often query on-chain data) are familiar with DeBank, so I won’t go into details here.

DeBank Chain is a new chain named after the DeBank brand. Similar to the many L2s that have emerged recently, this network is also developed based on OP Stack. DeBank stated that this chain has three advantages: minimizing gas costs; providing a local experience similar to account abstraction; and ensuring the security of L1 assets.

Specifically, DeBank Chain has made significant progress in optimizing the consensus mechanism, and the gas cost of a single transaction can be reduced by 100 to 400 times. Officials also stated. In terms of bringing a next generation level of user experience, the chain provides a chain-level account abstraction system and integrates it natively. This allows users to enjoy a close to Web2 experience while remaining 100% compatible with the EVM standard.

In the new account system, transactions support the use of exclusive L2 private keys for signature, which reduces the use of L1 private keys in usage scenarios and enhances the security of users L1 assets. This also provides a basis for users to perform more frequent operations. Officials believe that this feature fully adapts to the high-frequency nature of social interactions within our platform.

How to participate in Mao Mao?

Currently, I have not discovered the RPC URL for DeBank Chain, so it cannot be added manually from MetaMask. However, the test network has now been integrated into the Rabby Wallet and has a built-in test coin faucet. If users want to experience it, they should use this wallet first. The participation process is not complicated:

1. Download and install Rabby Wallet, import or create a wallet.

2. Find and click More on the main interface.

3. Click Request DeBank Testnet Gas Tokens.

4. To obtain test network gas coins, you need to meet the prerequisites - holding the Rabby Badge, and users need to claim this badge first.

5. According to the wallet instructions, you need to jump to DeBank first, and then mint a badge named Rabby Valued User.

6. Once you have the badge, you will be eligible to obtain gas tokens.

Airdrop rules leaked? Maybe its just a misunderstanding

What needs to be made clear is that DeBank has not officially announced a detailed airdrop plan, and there is no way to mention the airdrop specifications.

But two weeks ago,DeBanks github released a snapshot of Valuable Web3 Users standards,And it is explained in the document that currently witch addresses, wool gangs, and low-net-worth robot addresses are everywhere on the chain. This leaves snapshot behavior lacking an accurate, comprehensive, and public high-quality on-chain user data set. DeBank selects a group of value users according to their criteria and takes a snapshot of such addresses.

The criteria include: Net worth > $1000; Minted Web3 ID; Address at DeBank with TVF > 0.

It needs to be clarified again,This standard is not necessarily related to the possible airdrops of DeBank Chain.At present, many users have used this standard as the standard for hair grooming and swiped their accounts in batches. The future results are difficult to predict.

Looking back at the recent airdrop events, we can’t help but find an interesting phenomenon – it has become increasingly difficult to get rich through airdrops, and there is even a risk of being countered.

In the early years, after the wealth creation effect caused by some large airdrops, more and more users have begun to complete as many interactive operations as possible by brushing data instead of actual use. Project teams are often willing to take advantage of this FOMO mood and continuously launch more on-chain interactive tasks to lure users to complete more interactive operations and add popularity to the cold start of new products.

Recently, many well-known projects have successively announced their airdrop shares, but they have aroused the anger of the community due to their small number of airdrop tokens or high airdrop requirements.

As DeBank launches the chain soon, a new round of airdrop refresh interaction will begin again. Odaily will also follow up on the release of future airdrop details and results as soon as possible.