@redstone\_defi brings to you

✨ Guaranteed Rewards

✨ RSG Points

✨ Myriad Activities

Welcome to the #RedStoneExpedition Season 1

Curious about the Expedition? 🧐🔍 Dive in 🧵

[![85d7cbda-0535-472b-afd1-6782d3524283.png](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8469a7ca-02d3-48e1-bfb8-5908c6d62382_1200x674.png "85d7cbda-0535-472b-afd1-6782d3524283.png")](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8469a7ca-02d3-48e1-bfb8-5908c6d62382%5F1200x674.png)

---

Quick Intro

RedStone

\- A reliable Oracle providing regularly updated & diverse data feeds for dApps and smart contracts across various L1s & L2s

\- Trusted by @MorphoLabs @ether\_fi @VenusProtocol @Sommfinance @pendle\_fi

\- Leader in LST & LRT

\- Know more <https://docs.redstone.finance/docs/introduction>

[![Image](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8c73d709-ea66-4ea7-bed9-d47aa8866a6e_1200x400.jpeg "Image")](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8c73d709-ea66-4ea7-bed9-d47aa8866a6e%5F1200x400.jpeg)

---

1/ Season 1

\- Packed with challenges and innovations

\- Open to all

\- Substantial rewards

---

2/ RSG points

\- Red Stone Gems

\- Key to unlocking rewards

\- Serve as a universal metric to gauge users' level of engagement

[![60ddb58b-95ee-4e31-8bf1-b43fda72f895.png](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8534710f-ce14-4d1c-a79f-1d7bc0dbaf10_1200x626.png "60ddb58b-95ee-4e31-8bf1-b43fda72f895.png")](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8534710f-ce14-4d1c-a79f-1d7bc0dbaf10%5F1200x626.png)

---

3/ How to Earn

\- Engage in a plethora of activities

\- Check them out below 👇

[![04d64684-705e-4ef2-bf2e-f5d849664076.png](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd714f814-ed93-4f65-8f70-4e6e646bca8c_1200x626.png "04d64684-705e-4ef2-bf2e-f5d849664076.png")](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd714f814-ed93-4f65-8f70-4e6e646bca8c%5F1200x626.png)

---

4/ Finer details

I. On-Chain Tasks

\- Most rewarding opportunity of all

\- Complete special campaigns with RedStone's Partners for hefty rewards

II. Galxe Quests

\- Earn special OATs/NFTs tradable for RSG points upon completion of event

---

5/

III. Content Creation

\- Get rewarded for your creativity

\- Join Discord activities and earn RSG for your contributions

IV. Ambassadorship

\- Become a RedStone ambassador

\- Aim for Vein Master Ambassador level and above for extra rewards

---

6/

V. Community Engagement

\- Stay active in the RedStone community (calls/server games/discussions)

VI. Special Boosts

\- Boost your earnings with point multipliers linked to specific Discord roles

\- The multipliers apply to on-chain tasks and Discord activities

---

7/

Now that you know how to earn, let's move on to how to start

also, you can keep track of your progress with the Expedition Tracker dashboard

https://warpy.redstone.finance

[![3645a54d-4c4a-4494-8811-b9384d69c091.png](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8ef9bdae-9c39-4052-8241-d790d7a6ab3e_1200x750.png "3645a54d-4c4a-4494-8811-b9384d69c091.png")](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8ef9bdae-9c39-4052-8241-d790d7a6ab3e%5F1200x750.png)

---

8/ Join the adventure

\- Link your EVM wallet to the bot on the Discord server

\- Join in with the /linkwallet command on the Warpy channel

And don't forget to join the Galxe campaign to mark the beginning of this Season

Claim your NFT <https://galxe.com/RedStone/campaign/GCVHytTYvb>

---

9/ Important links

Discord discord.gg/redstonedefi

Website 

https://redstone.finance

Twitter <https://twitter.com/redstone%5Fdefi>

Telegram <https://t.me/redstonefinance/>

---

If you find this helpful, please support us by subscribing and following.

**Everythingblockchain** 🧐 - Freethinkers, Writers ✍, Blockchain explorers 🔭  
In pursuit of simplifying the different blocks of the chain metaverse

**Socials**

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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RedStone Expedition - Earn Gems for Airdrop

---

[![](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1b9d24f1-f6e9-416d-aa48-5e80dfd65806_1199x396.jpeg)](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1b9d24f1-f6e9-416d-aa48-5e80dfd65806%5F1199x396.jpeg)

ATTN: New money-making opportunities for NFT traders & investors 

Say goodbye to just buying & holding NFTs 

Imagine profiting by shorting NFTs too! 

With [@nftperp](https://x.com/nftperp) on [#BLAST](https://x.com/hashtag/BLAST?src=hashtag%5Fclick), it’s now possible

---

NFTs have changed the game for digital ownership 

But trading them isn’t always smooth — low liquidity and no way to profit when prices drop

Enter [@nftperp](https://x.com/nftperp)

The first perpetual futures DEX for NFTs & Ordinals 

Live on [#BlastL2](https://x.com/hashtag/BlastL2?src=hashtag%5Fclick)

[![](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83918209-6936-4990-81c2-7cecf1c5bb68_1200x630.jpeg)](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F83918209-6936-4990-81c2-7cecf1c5bb68%5F1200x630.jpeg)

---

If you’re farming BLAST S2, then 

Gold Reward Distribution 

• Activity tracking for Gold continues 

AMM rewards based on fees

* DLOB rewards for order quality
* Trading Competitions Pre-Launch Vaults for Upcoming Listings

---

Keep a look out for Pre-Launch Vaults 

— New collections/pairs tend to launch often 

— Help you earn boosted Gold rewards for seeding early liquidity 

[![](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F43d8771d-f068-4299-903d-12c3d24405be_1200x675.jpeg)](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F43d8771d-f068-4299-903d-12c3d24405be%5F1200x675.jpeg)

---

Post Blast-TGE Plan

[$VNFTP](https://x.com/search?q=%24VNFTP&src=cashtag%5Fclick) reward tracking will continue 

Future rewards will be calculated from this date, with back-dated rewards based on real activity

---

If you find this helpful, please support us by subscribing and following.

**Everythingblockchain** — Freethinkers, Writers ✍, Blockchain explorers 🔭  
In pursuit of simplifying the different blocks of the chain metaverse

**Socials**

[Twitter](https://twitter.com/EverythingB0x), [Medium](https://medium.com/@everythingblockchain), [Youtube](https://www.youtube.com/channel/UCkcc6EceEAu1sMoi2dKczCQ), [Reddit](https://www.reddit.com/user/cyekmyster), [Substack](https://everythingblockchain.substack.com/account?utm%5Fsource=menu-dropdown)

The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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NFT Perp - Short/Long NFTs

LPs drowning in choices, protocols starving for funds?

Navigating capital allocation in blockchain has become increasingly complex with the rise of numerous networks & protocols

We need a solution that transforms the flow and growth of Liquidity

Is @MitosisOrg the answer?

---

Existential Problem for Protocols

LPs allocate assets for yield, seeking efficiency and returns

But Protocols end up competing in a "Liquidity War" to attract and retain TVL

This is only intensified in the multi-chain era with more network options

Solution

🧪

---

MITOSIS's Value Proposition - Core Value Flywheel

Check this out here for a detailed explanation <https://medium.com/mitosisorg/mitosis-flywheel-4f2a762cb981>

For a rather quick and easy breakdown, keep reading

---

Mitosis Value Proposition

• Price discovery via a public liquidity marketplace

• Access to benchmark multi-chain yield via miAssets

• Seamless value exchange layer for networks

Let's dive into each 🌊👇

---

The Public Liquidity Marketplace

Protocols often rely on private LPs for initial liquidity

While vital, it can limit price discovery because terms are not transparent

Creating a public marketplace where all LPs can see and compare terms addresses this problem![](https://ipfs.subsocial.network/ipfs/bafybeibmwoac2nc6qrgjgwmmg533ywp6l76wxq7ieb6f2k6o4ra3yh32nu)

---

Transparent pricing = Better supply-demand matching

Protocols can plan costs more accurately

LPs can predict revenues more reliably

Markets can scale to new heights

A win for ALL!

---

L1 with Benchmark Multi-Chain Yield

Mitosis Vaults gather multi-chain yield on miAssets

Users deposit assets into these Vaults and receive corresponding assets on the Mitosis Chain

Liquidity gets allocated across networks for the best yield

![Image](https://pbs.twimg.com/media/GRYVzl4asAAGx1y?format=jpg&name=medium)

---

Becoming a Mitosis LP means

Instantly gaining optimized exposure to multi-chain yield

As more users seek multi-network opportunities, liquidity on the Mitosis L1 Chain ⬆️

This attracts builders who expand use cases, creating a self-sustaining cycle of growth and opportunity ♻️

---

The Value Exchange Layer for Networks

Mitosis Vaults and Chain enable seamless value exchange across networks

Users can deposit assets on one network, convert them to Mitosis assets, and redeem them on another

This simplification boosts cross-chain Liquidity & Activity

![Image](https://pbs.twimg.com/media/GRYWGQ5asAA1Y0w?format=jpg&name=medium)

---

Holistic Growth across Multi-Chain Landscape

The liquidity marketplace and value exchange amplify each other's growth

How?

As assets move easily across different networks & users engage across several platforms, it accelerates the shift to a multi-chain environment

---

It further increases competition for liquidity & its management

And that drives up the need for a robust marketplace

This increased demand will bring in more liquidity into the Mitosis ecosystem

Eventually making it capable of handling varied and larger-scale use cases

---

If you find this helpful, please support us by subscribing and following.

**Everythingblockchain** — Freethinkers, Writers ✍, Blockchain explorers 🔭  
In pursuit of simplifying the different blocks of the chain metaverse

**Socials**

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Before we dive into Parachain Auctions and Crowdloans, let’s quickly run through the main components of the Polkadot network. Alternatively, you could read the articles covering the Polkadot ecosystem at length ([Polkadot](https://everythingblockchain.medium.com/polkadot-a-heterogeneous-multi-chain-framework-bedde620e38e) & [Kusama](https://everythingblockchain.medium.com/polkadots-canary-network-kusama-103429442d39)).

Relay Chain, parachains, parathreads, and bridges are the four main components of the Polkadot network. For the purpose of this article, we shall focus solely on the Relay Chain and parachains.

---

**Polkadot**

Polkadot is a heterogeneous multi-chain framework that connects application-specific Layer-1 blockchains (parachains) into one unified network via the Relay Chain. The framework allows for blockchain interoperability and pooled security of parachains.

**Relay Chain**

The Relay Chain forms the basis or the foundational layer of the network. It is a Layer 0 blockchain that enables other Layer 1 blockchains to connect to it. The relay chain utilizes a nominated proof-of-stake (NPoS) consensus and is responsible for securing, governing, connecting, and ensuring the seamless functioning of parachains. The Relay Chain is intentionally designed with minimal functionality and does not support smart contracts by itself.

**Parachains**

Parachains (short for parallelized chains) refer to the custom-built Layer 1 blockchains that connect to the Relay Chain. Parachains are sovereign blockchains offering specific use cases and featuring their own tokens and governance mechanism. They’re secured by Polkadot’s relay chain (pooled security) and cannot choose their own consensus mechanism. Polkadot gets its smart contract functionalities from parachains.

Kusama and Polkadot share the same codebase implying vast similarities in the underlying structure (relay chain and parachains). Kusama is an early and unaudited version of Polkadot.

At present, the Polkadot and Kusama network can support 100 parachains. Connection to Polkadot/Kusama requires leasing an open slot on the Relay Chain via slot auction. This auction entails locking up a bond of DOT/KSM for the entire lease duration (96 weeks/48 weeks).

---

## ![](https://lh5.googleusercontent.com/sAE0K6bQVWWLMfEjKcj-QoWwvrLEdQBbl3XKAaCRN5onqKdJdD1_Z1Ce5pfNjJKJNvGoAh7wlEwcqh2eiKcPwHV4UjCrFPEmAVq0aDTVTX0UptnE4qArTL0NBrUIlj_omqZd6rFu5-_EazD9HQj8edF6M5f3yqNdluaaKDXgYVD1VbVcJX70t4RraQ)

## Parachain Slot Auctions and Crowdloans

At this point, it is imperative to reiterate the parachain model enables Polkadot to scale at Layer 1\. To further increase scalability, parachains can incorporate Layer 2 solutions. Polkadot’s heterogenous sharding allows for parallel processing of transactions from unique and specialized Layer 1 blockchains, improving the throughput and scalability of the network.

### Parachain Auctions

Parachain auctions enable equitable distribution of available slots on Polkadot and Kusama. A safe approach (compared to ICOs) to bootstrap teams and support new startups in the Polkadot ecosystem, the auction is designed to create healthy competition between projects vying for a slot. The winner of the slot bonds DOT/KSM for the entire duration of the lease and benefits from various offerings such as plug-and-play security, interoperability, governance, forkless upgrades, and scalability during this time. Moreover, the hard limit on the parachains prioritizes high-quality projects and incentivizes the teams to demonstrate their offering and garner community support.

There are two ways parachain teams can bid in the auctions. The first one is to bid with team funds from a single account. However, this approach makes sense for established projects with sufficient funding or whale support. But Polkadot wanted to create a way for new projects to compete in the auctions, so it introduced crowdloans. Crowdloans enable projects to participate in the auction by enlisting the help of their communities and demonstrating demand for their idea. Essentially, a crowdloan allows the team to accept community contributions (DOT/KSM). The DOT/KSM locked is returned to the contributors at the end of the lease, and most teams tend to reward contributors with native project tokens.

### Comparing Parachain Auctions to ICOs

In the case of Parachain auctions, the bonded tokens are stored in a separate crowdloan module on the relay chain. The project team has no control over the tokens, which are sent back to the contributors at the end of the lease.

An ethical and secure alternative to ICOs, crowdloans prevent rug pulls as teams cannot use the tokens at their discretion. In addition, the permissionless nature of protocols enables projects to secure a slot on the secondary market from anyone who won the auction.

The ICO model is riddled with scams and misinformation. In contrast, Polkadot’s crowdloans not only offer a new way for garnering support but ensure the contributed tokens are utilized for the good to provide teams with access to scarce network slots and parachain token launches. Moreover, unlike ICOs, where investors often lose money in hopes of high returns, the tokens are returned to the contributors in case the team fails at the auction.

### Auction Format

The parachain auctions follow a permissionless candle auction format. Candle auctions date back to the 16th century and were used to conduct the sale of ships. Under this format, a candle was lit, and when it extinguished, the highest bid at that point won.

In the case of parachain auctions, adding an element of randomness encourages a fair and open bidding process to prevent auction sniping. So how does one know the auction has ended? Well, there will be a known open and close time. Once the auction opens, project teams can bid with a single account or use their crowdloan contribution. Post the pre-defined close time, the candle auction module generates a random end time (a random snapshot of the block at which the highest bidder wins) to determine the auction winner.

### Post Auction

As stated, the DOT/KSM contributed shall remain locked in the relay chain for the entire duration of the parachain slot. The winning team shall not have access to these tokens.

At the end of the lease, funds are returned to contributors. Therefore, it is important to note that the main trade-off when choosing to participate in auctions is sacrificing the staking returns over that period.

Once the lease expires (96 weeks on Polkadot/48 weeks on Kusama), each project requires new funds for the lease renewal. The options available include-

1. The project team hosts another crowdloan/self-fund
2. The project team may opt for a parathread (pay-as-you-go model) instead of a parachain

### Cost of running a parachain

Parachains leasing a slot have access to as much computing as they require without additional fees of any kind. However, they must bear the cost of running collator nodes on the individual parachain.

Other than that, the costs are negligible since the bonded tokens are returned at the end of the lease period, so the cost of running a parachain is the opportunity cost from not having access to the locked DOT/KSM for the entire duration of the lease.

However, projects that acquire slots through crowdloans may reward contributors and thus incur additional costs.

## Closing thoughts

Parachain auctions ensure the fair and equitable distribution of parachain slots. The two main ways to compete in the auctions include crowdsourcing DOT/KSM or placing a private bid.

The parachain auction and crowdloan model is an accurate representation of the innovations and capabilities blockchain technology offers. Moreover, it has played a significant role in successfully expanding the DotSama ecosystem.

I hope this article helped you understand Parachain Auctions.

This is part of a series covering the Polkadot ecosystem.

The series consists of the articles outlined below.

[Part I — Polkadot Overview](https://medium.com/coinmonks/polkadot-a-heterogeneous-multi-chain-framework-bedde620e38e)

[Part II — Polkadot’s canary network — Kusama](https://everythingblockchain.medium.com/polkadots-canary-network-kusama-103429442d39)

Part III — Parachain Slot Auctions and Crowdfunding

---

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Parachain Slot Auctions & Crowdfunding

**Primer**: The first public good of the Dotsama (Kusama/Polkadot) ecosystem, Kodadot is a Kusama native carbon-neutral NFT platform that enables users to mint, transfer, and burn NFTs.

---

The surge in popularity of Non-fungible tokens (NFTs) can be ascertained from a market evaluation of $15 billion in 2021 with nearly 2 million active wallets. However, while NFTs have gained traction and revenue, their definition is still unclear to many.

**NFTs** stand for Non-Fungible Tokens.

But what are fungible and non-fungible items?

Let's understand the same with the help of examples.

Fungible items are eligible for replacement/substitution (e.g., dollar bills, bitcoin), whereas non-fungible items (e.g., airline tickets, trading cards, and real estate) are unique and not interchangeable. In short, a non-fungible item cannot be exactly equal to another item.

Now that we understand the term non-fungible let's get back to NFTs.  
NFTs are unique digital assets representing ownership of real-world items like art, video clips, music, collectibles, in-game items, etc. The ownership is built-in as a certificate of authenticity. NFTs are powered by blockchain technology, similar to cryptocurrencies. However, unlike cryptocurrency, NFTs are unique cryptographic tokens that cannot be replicated (non-fungible). Think of it as the digital equivalent of the physical evaluation of authenticity. Blockchain technology enables anyone to issue a certificate of authenticity for their original work.

## Kodadot

Kodadot is one of many marketplaces where users can display, trade, and even create and store NFTs. An NFT marketplace denotes a digital asset platform that serves as an ideal vehicle for the purchase and sale of NFTs.

Some marketplaces offer specialized services such as creating and storing NFTs. However, NFT trades through marketplaces are often associated with high fees. In addition, some platforms tend to limit artists' creativity, and navigating on them isn't as simple and high-quality as it should be.

![](https://lh6.googleusercontent.com/-qy9csprqtNrFj9feQe0nNB1lolfnQw5JPgZxnNdSzubSNnMr8ipJDY2-j6ICPpYKPYvB1LnL0L1XFbV6lebIxYTFMY8xVJVttbQxJnY-gGLdqgNkddVGrkZ4ptXre5yO1EjXA7Uf9MZAo_RU55_ioedEKZfSdE4zMyZG_T8FrjdUGu1xz5RSBdWfA)

While NFTs give artists immense control over their work and the ability to go mainstream sans intermediaries, the minting of NFTs has a significant downside in the form of massive carbon emissions. Most of the art in crypto runs on the Ethereum blockchain that utilizes the PoW consensus model. While the shift to PoS is around the corner, one can't negate the damage that is already done.

What makes Kodadot different is what we shall discuss in the following section of the article.

Kodadot is a universal NFT explorer and marketplace built on top of Kusama that uses the RMRK protocol to manage and create NFTs.

***We are trying to set a movement where artists can offset their mints.***

***![](https://lh4.googleusercontent.com/7zBOEg_dQyybWyNxlsZTk6NEefo-KZgpnA3dwP5Y1Xt4XehFloVEF1GDATEGvQR-ifLEu_b5x0OI47O86CQvy_P7KoZbQJwTOetneKzuQn0KU_tmv-VqkoOs4H_R34jUEgAmWHXLtBL_xDtVxEFUFupVU_VnM-kc0xjS4x1lPPoihk7xI7P6cLekvQ)***

Kodadot is designed for creators and collectors who want to experiment with blockchain and NFTs while maintaining carbon neutrality. More importantly, Kodadot has a responsive web-based NFT explorer that provides an intuitive user interface.

## A glance into the KodaDot Platform

### Intuitive User Interface (UI)

The UI is simple yet intuitive, easy to use, features a dark theme, and compliments the content. The search option at the top lets you search for NFTs based on artwork, collection, and listing assuring hassle-free trading of NFTs. It is a robust feature that ensures users can search from available NFTs per their preferences.

On Kodadot, the New Listings and Popular Collections auto-populate in the search bar. This is especially useful for noobies who don’t know their way around but are interested in exploring the NFT space, as it enables them to view the hottest NFTs on the Kusama network.

Moreover, hovering over a collection piece showcases all critical information in the most optimized manner, including the name of the NFT, price, number of items, floor price, and more. For detailed information, you can view the collection’s single page.

![](https://lh6.googleusercontent.com/F1DDvvM0LSYw5JcxC7qQaseoYRPnCA64IfxDF5OwB_1-2X9-ASW2kXe524FwlsZ7kFSnwpBpxYiP0Ji6aw4uKzasNvjeu2aCWiz7CJX2vGUNbfnlJxq84CMblaG7aReXunjPCLFWN_P2y0h9f13obqAQJeKxmm7hKRGeb6HR6xKej78-QFSVPC9jyA)

### Advanced Search

Here is a sneak peek into Kodadot’s advanced search feature that is expected to roll out soon. Kodadot is using [Subsquid](https://twitter.com/subsquid) to supercharge search on their natively multi-chain NFT platform.

![](https://lh4.googleusercontent.com/MYjb2a27cpb05ZFIVFDFNEF3iEvBhH1BnWLDcHvy6-jAu66JQ6g_vXVp1Vvd8AN32AQYTNzGQnt2eydUBL58M5OYjmotOzJhLWw9s8_DUEXfAtGzhKXWOd_1IXsRBjUr7D9AjSrP8-mkICIQMbzB3m6iWrSttXcr5RyJ6TmwAPq1l5T2FD4vC_EKmg)

### Supports Multiple Languages

KodaDot supports multiple languages in its endeavor to become multilingual and native-first. It recognizes language as a barrier to accessing Web3 tools and thus offers said support.

### Create NFTs

KodaDot offers three options - Classic, Simple & Creative to create NFTs. Classic allows creating a collection and adding NFTs to it. Users can create NFTs in a single step through the Simple option, while Creative uses an AI-powered process to create NFTs.

![](https://lh5.googleusercontent.com/k9jvt6LIKyCEatdxcQbOVYA8oKyAYaf8i9aY5VCpVe_az5mhw3_i4j3SEMkfvgqF0lGZNeYD6Jw5Ukvdiux1ztl9PyIMppK_jN7LOL3rHYAnxrRd4xHp4TFHb3m1POk-vGXsUw5wVteNxyY2KPESc3AJNVSSTEedRX1rAz23Ykc6vsTLNoGwTWJzFg)

### Filters

Filters not only make the search convenient but also enhance user experience. All available filters, such as categories, availability, listing date, and collections, provide easy and flexible navigation through the listed NFTs, ensuring a smooth experience. Users can filter out the NFTs based on the chain they’re built on (RMRK, Statemine, Basilisk, and Moonsama).

![](https://lh5.googleusercontent.com/WId1qzV0jOG3j4xhgY2SOmk_1FaRIwJhuEhdBfS3qJ4drUUDv0rrz0Jugg1NR78WMtnAUQe7LLVVBZGYvBEK8t2QaJTC8aH9_xj3NVGkwWs-a_g2QsNfZ5qBEZDvwNKk9kDJbNUKgpC-CRgx_eNa4e2gjCVtABkV83CilwAxU7K7Nhwa1OaNjlyNwQ)

### Stats

The statistics or Stats page for Kodadot provides users with added functionalities to ensure a seamless trade. Stats has four sections (for RMRK). The first one is **Spotlight**. Users can opt for Spotlight to view the top collectors and artists on RMRK. The display comprises the most popular NFTs on the Kodadot platform, hence the term spotlight. The second section, **Series**, displays the top NFT collections on RMRK, ranked by overall volume, floor price, and other statistics. Next is the **Sales** section that shows the most recent NFT sold on RMRK, along with additional information, such as the price at which it was sold, buyer, date, etc. Finally, the last section is titled **Hot** and displays the sales conducted in the week prior. It includes items like the last sale, time since the last sale, etc.

![](https://lh3.googleusercontent.com/iinmmK3Hca_AhBHOL4FNtgDVvAeQIAFCL81uFwxvekXYCO1U9BwxUK_Ob3xJo-GFeu8ebS4CSG3bORdJxGeApPRCJd3_odXPXJ62Z2XzOutMNlOcb6hJak_pu4uTtDjttMu8a8g6x0Ukb6qNPvwfIWGzeZxpaXU-QQPyrmEt_-r9aY-HGthhymV5cA)

### Kodadot collection features

When collectors view the collection's page, they're presented with several features to ensure a seamless experience.

**Items** \- enable navigation based on a range of factors highlighted below (insert pic).

**Charts** \- provide a visual representation of the NFT price evolution and a chance to analyze it by tracking the collection's floor price, sale price, and trailing average.

**History** \- lets users view the NFT history based on the listing, mint, buy, burn and gift. It includes the date of the

**Holders** \- lists users who bought the NFTs, including their name, the amount purchased, the price at which it was bought/sold, and the date of the activity.

**Flippers** \- display the list of all former holders who bought and sold NFTs in the collection. It includes the name, the price at which the NFT was bought/sold, the date, etc.

![](https://lh6.googleusercontent.com/yl2A7zR4GOf-7aumkxDJaPOY1nxUH1fBwD7Tnmr1BYL1ZbqcV8c101bzxWm_SzD92kDBuz_KpYS2JOqnwDxb5XBYGqakeFlGDX2BpVmqIXjm0MnzKUAvGYas09gcZFGFs6XabbfAz5-UrK0R34FtIUOxWs9E_1mvZM3k1v58KoEwre3MLKKPW74kHw)

## Closing thoughts

Addressing the climate controversy swirling over NFTs, Kodatdot is DotSama's first carbon-neutral, accessible and user-friendly NFT creation and trading platform.

With a commitment to sustainability, Kodadot redefines how creators and collectors interact with NFTs and blockchains providing an entry point for those who have refrained from entering the space owing to the profound physical impact of NFTs on the environment.

---

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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KodaDot - An overview of Dotsama's Carbonless NFT Marketplace

**Primer** \- [Beanstalk](https://bean.money/) is a permissionless fiat stablecoin protocol. Beanstalk relies on **credit** as opposed to **collateral** and is designed to remedy the rent-seeking collateralized stablecoin market. It aims to create a decentralized, liquid, blockchain-native asset that is stable relative to the value of a non-blockchain-native asset.

**Disclaimer** \- This article will be the first of the series about Beanstalk. I am writing this as part of Beanstalk’s community grant program.

---

### **History**

Beanstalk deployed on Ethereum on August 06, 2021\. It grew organically to $100M in market cap and attracted $144M in long-term incentivized liquidity within a little over eight months.

Earlier this year, on April 17th, 2022, Beanstalk lost nearly $182 m in a flash loan attack. An [attacker](https://etherscan.io/address/0x1c5dcdd006ea78a7e4783f9e6021c32935a10fb4) identified and exploited flaws in the governance design, enabling the attacker a controlling stake in the protocol. As a result, the attacker drained the liquidity pool of its assets and got away with $77 million. I have covered the exploit in an article. Give it a [read](https://medium.com/coinmonks/beanstalk-exploit-a-simplified-post-mortem-analysis-92e6cdb17ace)!

### **Barn Raise**

Beanstalk launched the Barn Raise with the intent of bringing the community together to recapitalize Beanstalk. Unfortunately, it coincided with the time when billions were wiped off due to the implosion of Terra, and the space was full of skepticism around the potential of non-collateralized stablecoins.

I will be covering the Barn raise at length in a subsequent article as part of this series.

![](https://ipfs.subsocial.network/ipfs/QmdkB7B8iJBRUCnu39SQsDeJsgBM6Zokmnk272d6985Su8)

### **Rising from the Ashes**

While the stablecoin world is still rife with the Terra UST collapse, this story is one of success, a downfall through a brutal exploit, and then recovering & rising through a community that has found a path together. How often has it happened?

On Aug 06th, 2022, Beanstalk [relaunched](https://bean.money/blog/beanstalk-one-year-anniversary) the protocol after going offline for four months and one year after its initial deployment. It has completed two security audits from smart contracting auditing firms Trail of bits and Halborn. The protocol has shifted to a community-run multisig wallet until a secure on-chain governance mechanism is implemented.

![](https://ipfs.subsocial.network/ipfs/QmeSSy4SppGddJkF1KMsYnFedwHCC7BrBnQdCmMFxWM7Y5)

The protocol continues to push towards solving the existing stablecoin problems. The team believes that Beanstalk will permit blockchain-based enterprises to compete with non-blockchain-based businesses by creating a low-volatility blockchain native asset with competitive carrying costs.

Application building is already underway on the network. Root Protocol, on July 26, announced a $9 million seed round to create marketplaces for finance, commerce, and sports betting on Beanstalk.

### **Beanstalk in Perpetuity - Path Forward**

One of the most significant friction points holding the adoption of permissionless technology is the high carrying cost of stablecoins. The existing models of stablecoins require collateral, and increased demand for stablecoins means an enormous amount of collateral needs to exist. The lack of collateral restricts the scalability of collateralized stablecoins. This phenomenon has resulted in limited supply and high borrowing and lending rates. Thus, on-chain economic activity cannot compete with off-chain economic activity because of the higher borrowing costs. The supply cannot meet the demand as the carrying costs for stablecoins is much higher.

There is no denying the need for non-collateralized stablecoins, but at the same time, the economic deficiencies of these models need to be identified and improved. Furthermore, Beanstalk is an experimental technology. While it is likely good enough to continue to sustain in the short term, it would need positive future iterations to sustain in the long term.

We will be discussing Beanstalk at length throughout this series. So stay tuned for the next chapter!

---

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Beanstalk Series - Rising from the Ashes Ch.0

Driven by the will to give users the power to influence decisions, exercise control over usage, and incentivize participation, the $POOP token is a fully transferrable utility-rich governance token that supports cross-chain communication in Polkadot.

Before we delve into $POOP and its utility, let’s discuss the overall ecosystem.

---

## Moonsama

Initially built on the Moonriver network, Moonsama is a leading NFT project within the Dotsama ecosystem aimed at creating composable NFT ecosystems.

Projects like[ @PondsamaNFT](https://twitter.com/PondsamaNFT),[ @RareSamaNFT](https://twitter.com/RaresamaNFT), and[ @ExosamaNFT](https://twitter.com/ExosamaNFT) are creating composable NFTs on[ @MoonbeamNetwork](https://twitter.com/MoonbeamNetwork) to create interconnected NFT communities on #DotSama.

![](https://lh5.googleusercontent.com/MeGJC6UdFmGWL5y70LvZLhSwV7HRX2-0vtkTyzoG-Fv1rY6lhw0Ijla96rbmRVWbRQdVUXR-bGD5gyQNRlDi_yicnjF5bI6muYh_Esy0xKHDyk7ZihX6TiHCV9DoKSWxqM4ojk9YraveRaMoiK-wA35JYNJ8tAXk8rw_dpkxTZPJFpqE6cUD70KUTQ)

The future is multi-chain, and Moonsama’s 2.0 edition allows for cross-chain composability and utility. It features a Multiverse Bridge, which is key to unlocking NFT interoperability. Moonsama can integrate different NFT standards (e.g., ERC1155/ERC721/RMRK) and utilize NFT assets from multiple blockchains (Moonriver, Moonbeam, Ethereum). Furthermore, it supports the bi-directional bridging of on-chain digital assets and off-chain applications, ensuring full compatibility between the two worlds.

![](https://lh6.googleusercontent.com/-8WTVkxOHGNT56xe2LLHairIWBmdZ3pMIM6N31hclXXU5H8P8v3cjmDkzmjV9-D-zEBqQhq3OPOnkNDE9d_qq2-R_mG4o3opIj_TyDp_UvMs0kpHVd98dyLV0TbbfVJPFWB21Ei8ZmebAJtgjduu6fbGr2y4mQWlhyrWBV9V6Rb2Mf6zTT1CIfPX7g)

The bridge is chain and Metaverse agnostic to build a limitless ecosystem.

What started as a collection became a project and is now an entire ecosystem consisting of Pondsama (5v5 fish battle game and open Metaverse), Exosama, Gromlins, Minecraft Carnage, and more.

![](https://lh6.googleusercontent.com/LRNf7PFYCa5km4au7-FS4hDy_qua7QhkweiFCZ9V34AdIr8qo6a8tMA6YxyiIN4L2NFcOaPugMq_ox4reASsTxoB5a57e1a31MkMfHBr0swDH1LYb-7-6bD89lnKF6ygYqzAkbaJvoil-a9MCAY6nZR2jwH-xn3Gb2B6RmAsUm2p0UwNVWc9L80i-Q)

## Raresama

Created by Moonsama, Raresama is an artist and community-focused NFT marketplace. It is a decentralized platform governed and curated by the Moonsama and Exosama communities. Unlike other NFT marketplaces, Raresama strives to be 100% in the hands of the community. All NFTs added to the platform must be voted in by the community members. Completely decentralized and free from VC reliance, Raresama is focused on the art and its artists.

![](https://lh6.googleusercontent.com/q0pQJ1JFuuT27SRvmcgalDTR_EsrlKVggio5LHwb77xshsgIikc0N5o7_t5bFPggA0b8j3iogauZGDbpS47lcHf-47cEuvPSq8Lm5NFCRre0gX9Ac4YrTodNTB5q8IWNNK3ZXdFnMyfM7xrT1r2Y-OgkUPgihIJnIr3CM1NRzsFOhIT_B-CpdbxS_A)

## $POOP

The Raresama NFT marketplace is curated and governed by the community through $POOP. $POOP is a fully transferable governance token that underpins the functionalities of the complete marketplace.

Apart from decisions on NFT voting, $POOP holders will be involved in all decisions pertaining to the development and direction of the platform, including profile customization, drop announcements, referral share, etc.

## *![](https://lh5.googleusercontent.com/hwf78dugt_RMw8i79lHYSSkCOqBl2TTOS3usWjmqafhYi8BgJZLT_Ckle_0qUGk7fr-6qRpIsqzS464IBompWHH0ju53mgC3NZVMspm9ptCrhn3MI9cEH2LHgjGiAkz_g0NLmRAR563_F1ySd35UErXDsXwzb6NKgDW_cmdI7o1EyS10OGj-f-0DSg)*

The $POOP token was deployed as an XC-20 asset on the Moonbeam network in the month of September. Its launch was met with an overwhelming response of over $1 Million in trading volume on [Beamswap](https://medium.com/beamswap/why-you-should-have-raresamas-poop-on-the-radar-1da700e4a6d8).

![](https://lh3.googleusercontent.com/Esrd1o09XokZ-VdNvDCpRW4a5jJb9OVdO1ltwRBc7KtrQK4UrVdrFgjWOtJLpZ902jbVeAaj9UFNehdmR2GmzwyZnAA5P9vUj5fdOp2cYXkEJUjO536wBdQZ63_a0C7B6dzrfzegE3yq7_JbXF-CnBYfUWn6yLXIUn-zeu_84nJgct82Cv9k_fqMNw)

## $POOP token utilities

$POOP token has several uses intended to benefit its holders. Decentralization has been at the center of the Moonsama ideology, and the aim is to build a fully functional decentralized NFT marketplace, *curated by the community for the community.*

**Governance and Voting**

Besides being a pre-requisite for minting NFTs, POOP holders will partake in all decisions on Raresama. It will also be used on Pondsama (and most likely upcoming projects) for governance.

$POOP is a cross-chain (xc) token that allows the transfer of value across different dApps, eliminating the need for any asset bridge. Additionally, the upcoming Metaverse on Moonbeam will boast on-chain governance backed by $POOP.

![](https://lh4.googleusercontent.com/DkdJMrNIYpGGWj9p6Fkm_N-CGf28olzKCSXG0x0nQ1xMs04VpZ-YlbrnuWfeTfm6XLwSGMLc66lYEv8-2Azo42tPylQiorh86hNeN6fo33QYUlXVRm4lL14Y57ozb-vUKbmxUMrmb98c1kgVr84U48L9tDkm96-cF-Z9fAQMRJCiuvCHJGSytlgmeg)

**L1 and L2 production**

Staying true to its goal of building blockchain infrastructure for the future of NFT, Moonsama plans to launch L1 and L2 chains on top of Polkadot. This move results from the desire to tackle the most limiting factors, **governance, and speed**. Current blockchains cannot cater to the world of gaming and NFTs. NFT transactions can be complex, and currently, the space offers no solution for mass adoption.

Moonsama’s original plan was to build a Layer-1 chain with Proof of Authority NFT-based governance to address the problem of low participation and favoring of wealthy players. They also wanted to open up the governance system and the NFT 2.0 technology for other projects to plug in easily.

However, a launch period of 3-5 months was estimated too long for the launch by [@DonnieBigBags](https://twitter.com/DonnieBigBags) and the team. So they decided to launch an L2 EVM chain simultaneously while working on the L1 and $POOP as its main token. Currently called Exosama, this would be the first multi-chain rollup in history.

With Exosama, Moonsama hopes to reel in users from the Ethereum network (Opensea). The hope is users will migrate to Moonbeam/Moonriver if they want to unlock all the benefits of NFT 2.0 technology.

![](https://lh6.googleusercontent.com/aJCInEc87UGm7BLcHRgTP5RxYEnyJGO515qBHmZHPWvPF8EVR1eym0KGTIb9C7zkFTVapCSxA0ASG2RTF71VpaTRphXfzPoonCRkpmU7bKVgBMHe1eMXuaZ8V-amDyrqj5tza8id_wUL1El3CLiKtuooPsFD00kJbjZSB1HKy7aZ10K2tQuW3TtCOQ)

Moreover, the team estimates the launch to be in the next few days. *Move fast, expect chaos.*

*![](https://lh4.googleusercontent.com/WEgWdcg1azg5J9Oskzfp48wdyxL8xD8IFa_9Ot5WFW2lkyXLf6opr8jRJz2s_JE3KZ5IyklrSsoWjGW5psEJrwYoBbhiOGTuw1MNaStZKNPokcO3sJDHmgEduhpsmYC9FuipsSKXqDaxpo5E6KC0HmNyD7ETjYFxGfnz65Gmi3hGWPPmR8Isincxew)*

Moonsama is on the path to connecting any chain to any metaverse, aka multi-chain and multi-verse.

**Moonsama Community Fund**

The Moonsama community (the largest group of POOP holders) controls the utility and growth of POOP across the entire ecosystem.

They can vote on proposals like using the MCF (Moonsama Community Fund) to buy back $POOP from the market. They can even introduce deflationary mechanisms to the token model to protect its value.

![](https://lh6.googleusercontent.com/6eHf_6sp-eKDI-wElPTHasXxQBF81iUxrVfME6qS60g8ZFx69-HHShks4k8fiPpss9UC0vULzmx-DHt3mXsdFB7gQvMaV94ow9DzV7gxX0sP_utyISB-OAv7T-XAxnay6m9C53MYzugbnfBiBgcpF07ODuf5ZcsfBRtXcyBSQ8qyn6I-ZgMG1w0byg)

## How to buy $POOP

If you’re wondering how to get yourself a bag of THIS SHIT! ($POOP), then look no far.

It’s listed on CoinMarketCap, and Coingecko and can be purchased via the below-mentioned Moonbeam DEXs. $POOP has millions of dollars in liquidity and volume since its launch (this is despite the current bear market sentiment).

1. Stellaswap
2. Moonswap
3. Beamswap

Beamswap also offers yield opportunities that reward with POOP

* $POOP Syrup Pool

$SHARE token holders can earn $POOP rewards for staking while still making \~23% APR in $GLINT.

* Beamswap Yield Farm

The $POOP - $GLMR staking pair pays out in $POOP, $rTIDE and $GLINT.

## Conclusion

There’s a new development every day in this wild ecosystem. With several new initiatives in the foreseeable future, the POOP token utility is bound to expand, providing its holders with greater power.  
The one thing that is given is there is a lot of utility for POOP in the pipeline (pun intended).

---

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$POOP - Not a shitcoin!

---

**Primer** — Essentially, it enables users to hold their crypto while still extracting its value through juicy yields and interest-free loans. Vesta charges a [one-time fee](https://docs.vestafinance.xyz/technical-overview/fees-in-vesta#issuance-fee-mint-fee) to mint VST and create a fully customized vault. Vaults represent individual collateralized debt positions and enable users to obtain liquidity on their cryptocurrency.

Crypto assets to borrow against include renBTC, ETH gOHM, GMX, GLP, and DPX.

---

### Introduction

DeFi represents an ecosystem of blockchain-based applications (dApps) offering a range of financial services similar to those provided by traditional banks for fiat money.

In today’s article, we shall be covering an offering that has no parallel in the world of traditional banks, i.e., zero-interest loans.

Let’s understand the importance of 0% interest lending with the help of an example.

You are a small-time business owner bullish on ETH. You have ETH sitting in your wallet. The underlying value of ETH may increase or decrease (in the short term). Still, you’re not getting anything out of it currently. And your business is in dire need of cash, so what do you do? Do you sell your ETH? Despite knowing the prices are going to soar in the future? Na-ah!

This is where crypto lending comes to the rescue. You can deposit (ETH as collateral) into platforms such as Vesta to take out an interest-free stablecoin (VST) loan. VST can be easily swapped for fiat or other stablecoins. Taking this route will enable you to keep your business afloat without missing out on future gains from hodling ETH.

*In summary,*

* *In the event of an emergency, you get to borrow fiat money (using crypto assets as collateral) without selling the asset (ETH) you’re bullish on. So users can preserve the long-term upside of the asset while enjoying the liquidity of their asset in the short term.*
* *Crypto loans are instant and require no credit check, unlike traditional loans.*
* *Vesta offers loans at 0% interest.*
* *Borrowers have to over-collateralize the loan to protect against price fluctuations.*

### Vesta Finance

Vesta Finance is an Arbitrum-native stablecoin protocol that enables users to generate VST by locking their assets as collateral. It offers interest-free loans, a wide range of collateral compared to its competitors, and lower gas fees by being on Arbitrum.

Additionally, Vesta boasts a super-ambitious [roadmap](https://docs.vestafinance.xyz/roadmap/roadmap-overview).

![](https://cdn-images-1.medium.com/max/1600/0*fuZ4OgJXo8iMkF-j)

At the time of writing, more than $50 billion is [locked up in DeFi](https://defillama.com/), more than half of which comes from Ethereum ($30 billion). Vesta aims to make DeFi accessible to all by extending its offering to non-EVM ecosystems in addition to all EVM-compatible chains.

Vesta has two tokens.

* VST is the USD-pegged stablecoin, in which loans are given and repaid.
* VSTA is the governance token that plays a key role in the protocol’s decentralization.

### How does Vesta Work?

Users supply crypto assets (accepted assets include ETH, renBTC, gOHM, GMX, GLP, and DPX) into a vault to take out a loan. Critical to this concept is the VST (native stablecoin). Vesta enables users to take out VST loans against the assets mentioned above. A minimum of 110% collateral coverage ratio is mandatory. ([Protocol parameters](https://docs.vestafinance.xyz/technical-overview/protocol-parameters))

Collateralization is vital as it protects in the event of a default. In DeFi, collateralization forms valuable insurance and is essential for a protocol to be fully trustless. Vesta’s collateralization ratio is lower than that of its competitors.

Anyone can open a Vault to mint VST by locking collateral and ensuring the ratio of collateral value to VST minted is the required minimum. And, if the collateral value falls below the set threshold, the vault is liquidated automatically.

Thus, Vesta offers

* Ability to retain assets and still be able to spend their value
* Instant loans at 0% interest
* Opportunity to leverage position

### Why open a Vault?

Apart from the 0% interest borrowing & instant access to loans sans credit checks, opening a vault has several additional benefits outlined below -

**Leverage** 
Opening a vault enables individuals to use the newly minted VST to purchase more collateral. Leverage allows users to increase exposure to a given asset. It is essential to exercise caution when leveraging a position because while there is immense potential for gains, there is also the risk of loss.

An example, Our friend Alice has 5 ETH (the value of 1 ETH is $1000). Alice deposits 5 ETH ($5000) into the vault to mint VST at a collateral ratio of 150% to borrow 3300 VST. Alice can use the borrowed 3300 VST to leverage her position.

In this scenario, all the borrowed VST is used to buy ETH and deposited back into Vesta. She swaps 3300 VST for 3.3 ETH and deposits it into Vesta to borrow more VST. She can repeat the process multiple times to increase the leverage.

By doing this, Alice gets more exposure to ETH & there is an opportunity to make amplified gains if the market moves as per her belief. However, the risks of falling ETH prices are also amplified. If Alice does not keep her vault adequately collateralized, it will be liquidated.

As of now, users have to leverage their positions manually as Vesta is yet to offer an auto leverage option. However, a UI for auto-leveraging (similar to Abracadabra’s borrowing MIM against an interest-bearing asset and looping it) is in the works.

![](https://cdn-images-1.medium.com/max/1600/0*onozP08UllZp6vva)

**Obtain Liquidity without Selling Assets** 
Opening a vault allows users to spend the value of their assets without exiting their long position. VST is a stablecoin that can be converted to fiat or other stablecoins. The money generated can be used to pay off traditional high-interest debt.

An example, Alice deposits GLP worth $5000 into the GLP vault to mint VST at a collateral ratio of 150% to borrow 3300 VST.

In this scenario, she earns ETH on the collateral (Vesta charges a 20% performance fee) plus esGMX and multiplier points. Due to its locked nature, Vesta has yet to devise a way to share this revenue with the users.

She swaps 3300 VST for USDC or any other stablecoin, sends it to her Coinbase account (or any other exchange), and withdraws it to her bank account to provide for her business needs.

By doing this, Alice gets to keep her GLP in the long term while earning yields on it. She also manages to secure an interest-free loan, which provides for her short-term needs.

![](https://cdn-images-1.medium.com/max/1600/0*fbrG-bFdbXlGh97Z)

**Customized Repayment Schedule**

With vaults, users do not have any fixed repayment schedule. Instead, the terms are flexible, with no minimum payment or deadlines. As long as users maintain a healthy vault (collateralized as per requirement), they are free to repay at their convenience.

**Earn Passive Income/ Additional Yield Opportunities on Vesta**

Minted VST can be staked into the Vesta stability pools. It is used to buy under-collateralized debt, and the users earn the collateral from the liquidated vault. The stability depositors can thus expect to make gains from liquidations. The collateral and new debt are redistributed to all active vaults if a stability pool runs dry. Liquidators are also compensated for the gas cost. Depositors also earn rewards in the form of VSTA.

An example, Staking VST into the GLP stability pool lets users earn GMX at an APR of 4.41% plus the 10% liquidation bonus.

### Conclusion

Vesta currently focuses on multi-collateral borrowing through the minting of VST, an over-collateralized and decentralized stablecoin. The protocol is designed to maximize liquidity for its users to be the most significant lending protocol on Arbitrum and eventually across all chains. It allows you to be your own bank at zero-interest borrowing. There is no credit check and a flexible repayment schedule. Additionally, users can leverage their position and earn yield through staking.

However, it is vital to consider the risks associated with opening vaults or using leverage.

An abridged version of this article is also published on Vesta Finance’s page   
&lt;https://medium.com/@VestaFinance/why-you-should-open-a-vault-on-vesta-2b1461487502&gt;

---

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**Everythingblockchain** 🧐 — Freethinkers, Writers ✍, Blockchain explorers 🔭  
In pursuit of simplifying the different blocks of the chain metaverse

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Vesta Finance — Borrow from yourself at 0%

Driven by the will to give users the power to influence decisions, exercise control over usage, and incentivize participation, the $POOP token is a fully transferrable utility-rich governance token that supports cross-chain communication in Polkadot.

POOP was deployed on Moonbeam a couple of weeks ago as an XC-20 token. But what is an XC-20 token, and how does POOP benefit from this token standard? Let's take a look.

---

Before we delve into XC-20 tokens, let me briefly introduce ERC-20 tokens.

## ERC-20 Tokens

ERC stands for Ethereum Request for Comment. It signifies a way to standardize the tokens within smart contracts on the Ethereum blockchain. Essentially, the ERC-20 standard is used to build tokens that interoperate within Ethereum's ecosystem of dApps.

The ERC-20 standard guides the creation of new tokens on the Ethereum blockchain to ensure interchangeability with other tokens used within smart contracts. A set of common instructions for all tokens is crucial for building DeFi apps, as they often have to interact with tokens. In addition, a standardized methodology for tokens makes developers' work easy and saves considerable time.

The ERC-20 standard is deployed on many networks outside of Ethereum as well. “ERC-20s are often the de facto standard for native tokens on EVM-compatible networks.”

However, this isn’t the case when moving outside of EVM-compatible chains. In such a scenario, wrapped tokens are created. Wrapping enables the creation of wrapped tokens whose value is pegged to the underlying token.

The entire process is usually facilitated by a bridge, which provides the infrastructure required to move assets between different chains. It involves locking the digital asset on one chain while new tokens of an equivalent amount are minted on the receiving blockchain.

Nonetheless, bridges create opportunities for exploitable bugs due to the complexity of the code. Additionally, they must maintain a 1:1 balance between wrapped tokens and their native counterparts. This is an attractive target for hackers looking to exploit the system through faulty smart contract logic or poor security measures.

Polkadot’s cross-chain communications (XCM), a shared communication standard, allows interoperability sans bridges.

## Polkadot and XCM

Specialization and connectivity are vital properties of Polkadot. The network provides a rich toolkit for building blockchains through its Substrate framework.

Substrate allows developers to create specialized blockchains that are purpose-built for specific use cases. A leading multi-chain technology in the field of blockchain interoperability, Polkadot's architecture allows parachains to natively interoperate, enabling cross-blockchain interactions and transfers of any type of data or asset.

To know more about Polkadot and its architecture, read my [linked](https://everythingblockchain.medium.com/polkadot-a-heterogeneous-multi-chain-framework-bedde620e38e) article.

XCM format (not a protocol) defines a language around how the message transfer between two interoperating blockchains should be performed. XCM and the Cross-Chain Message Passing Protocol (XCMP) are central to Polkadot’s multi-chain functionality.

XCM allows full communication between Polkadot parachains. Instead of relying on third-party bridges (prone to hacks) to move tokens, XCM allows interoperability on Kusama and Polkadot ecosystems. Moreover, the exchange (of tokens/messages) is conducted with the same security as the underlying network.

XCM channels serve as a stable and reliable inter-chain messaging channel between parachains themselves as well as smart contracts. Put simply, XCM is a language for communicating between unique consensus systems, enabling messaging between chains.

## XC -20 Tokens

Moonbeam, a fully functioning EVM chain on Polkadot, can interact with ERC-20 tokens. However, to ensure ERC-20s can interact with the rest of the Polkadot ecosystem, Moonbeam introduced the XC-20 standard.

The XC-20 standard creates compatibility between the EVM and the Substrate framework. XC-20 tokens conform to the ERC-20 token standard and are not only compatible with ERC-20 but have cross-chain capability (using XCM).

Essentially, Moonbeam (Polkadot’s unique interoperability framework, XCM+EVM) has introduced the path forward for both scalability & multi-chain functionality. The XC-20 format allows Substrate-based tokens to be used like ERC-20s within Moonbeam.

![](https://lh4.googleusercontent.com/xO1BKM96Pxxzb0yhRBwAJuzJVEJjoQUM_dbLzY5OjQmxJSV_LnmhS1AQYJjswef-67ZJ5t5QIHyC6tcMfmq8_2_5gYTNjfznSrJqyrk3VnU72gZaRT11ijMf-SVvfgYc_IhBbUy4Q-4-w5gnUB_doRMiEAtrn-EHNlAHFyiWtEoRopUa7Zgw_EAu)

Let’s now understand how $POOP (deployed on Moonbeam) benefits from the XC-20 standard.

## $POOP, a Substrate native asset

I have covered POOP at length in an earlier article. You can read it [here](https://app.subsocial.network/4473/poop-not-a-shitcoin-35750).

Let's go through some of the benefits that $POOP offers through it being an XC-20 token.

* **On-chain governance** \- $POOP can be governed via decentralized on-chain governance.
* **Cross-chain transfers and interoperability** \- POOP can easily move between parachains capturing liquidity/& value on other parachains owing to the cross-chain communication functionalities of XCM.

e.g., A proposal to list POOP/PARA and POOP/USDT trading pairs on Parallel AMM is already up.  
As an XC-20 asset, POOP (that conforms to ERC-20 standard) can be transferred to chains outside of the Dotsama ecosystem.

* **Cross-Chain DeFi activity** \- XC-20 standard makes $POOP a regular ERC-20 token from the perspective of the EVM. This means POOP can be employed on all dApps, including Beamswap.

![](https://ipfs.subsocial.network/ipfs/Qmd1SV8PNB3fdwojRi2zMSkK7DpFACNTccA5saEsvzrG2G)

**FYI** \- $POOP's plan is to become the gas/utility token of the upcoming L2 EVM chain (gaming and metaverse focused) on Polkadot. There is immense potential as it increases DeFi capabilities and the use-cases.

So, is it going to be $POOP’ing everywhere? (*only time will tell*)

![Poop Emoji GIF - Poop Emoji Gross GIFs](https://media.tenor.com/LyBgNcJiX_wAAAAC/poop-emoji.gif)

---

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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POOP - Bringing the Power of XC-20

**Primer**: Kodadot is a Kusama native carbon-neutral NFT platform that enables users to mint, transfer, and burn NFTs. It has recently expanded to Basilisk, a liquidity strapping protocol, and a Kusama parachain. It has also redesigned some parts of its platform. With this, there is a bounty of $$22,222 (in BSX) up for grabs to create NFTs.

---

**![](https://lh4.googleusercontent.com/VZDOmU2ASemmINZUta2TzIhReoieVGwGhTbUlhCf1VAg2NfuM-y2taSu0_n_aO7esEI1NAIUlgqRXnMttc5SQpk_Ew8nW6vDwQgXUZbICtTZhydaayvt117sUdbgS-C1g0YZIW83AA75mN-IHipYhOz6naGI9UAFG4FNU0MqZlycBJ2HttXa6IWG-A)**

### **Kodadot - Expands to Basilisk**

Addressing the climate controversy swirling over NFTs,[ ](https://twitter.com/hashtag/Kodatdot?src=hashtag%5Fclick)KodaDot is a user-friendly NFT creation and trading platform. As human activities continue to affect the environment[ ](https://twitter.com/KodaDot)KodaDot, the first public good of the[ ](https://twitter.com/hashtag/Dotsama?src=hashtag%5Fclick)Dotsama ecosystem has embarked on a journey to help the planet. It redefines how creators and collectors interact with NFTs and blockchains.

The[ ](https://twitter.com/hashtag/NFT?src=hashtag%5Fclick)NFT marketplace runs on the low-carbon[ ](https://twitter.com/kusamanetwork)Kusama network to eventually become a carbon-negative gallery. The carbon footprint is offset by buying carbon offsets from[ Offsetra](https://twitter.com/offsetra).

Poised to scale up its efforts and launch on other parachains, Kodadot is now live on[ ](https://twitter.com/bsx%5Ffinance)Basilisk, a liquidity bootstrapping protocol, and a Kusama parachain. In addition, it provides liquidity bootstrapping functionality for new crypto projects.

Kodadot is host to an NFT gallery built on Kusama that uses the RMRK protocol to manage and create NFTs. It prioritizes sustainability for its creators and offers a platform where artists can offset their minted carbon footprints.

The platform offers:

* Intuitive User Interface
* Supports Multiple Languages
* Filters to ensure a smooth user experience
* Stats outlining the hottest NFTs, recent sales, popular artists, and collections

Give this [article](https://app.subsocial.network/4473/koda-dot-an-overview-of-dotsama-s-carbonless-nft-35569) a read for an in-depth understanding of the platform and its features.

### **New Features**

The platform has seen some redesigning to make the UI even more sleek and catchy.

In addition to the implementation of the Basilisk NFT pallet, there are some cool changes:

\- New look (logo, banner)

\- Implementation of Basilisk NFT pallet

\- Improvement in loading time using a combination of NUXT (static-side-generation) and NETLIFY (static hosting service) than previously used Single Page Application (SPA)

\- Browsing history to enhance the search experience

\- Mass minting replaces manual minting

\- Toggle on "buy now" to view NFTs available for purchase

\- Know more about the creator by hovering on top of their name

### **Future Roadmap**

The future roadmap of Kodadot boasts of some ambitious plans that include:

\- Plan to roll out NFT-focused infrastructure parachain Metaprime Network

\- Launch[ ](https://twitter.com/hashtag/EVM?src=hashtag%5Fclick)EVM-based collections

\- Implement more projects like[ Canary Agency](https://twitter.com/CanaryAgency) and[ Neon Crisis NFT](https://twitter.com/NeonCrisisNFT)

\- Expand to[ ](https://twitter.com/hashtag/RMRK2?src=hashtag%5Fclick)RMRK2

\- Reach the carbon-neutral goal

### **In Conclusion**

Kodadot provides an entry for those who have refrained from entering the space owing to the profound physical impact of NFTs on the environment. While it is working on different aspects at the platform level and integrating with other notable projects in the space, it hasn’t drifted from its goal of being a carbon-neutral platform. It has collaborated with [RMTerra](https://twitter.com/RmterraO) to create[ Kodaforest](https://twitter.com/Kodaforest%5F), a project aimed at forestation.

![](https://ipfs.subsocial.network/ipfs/Qmdt5cudsQHn19qx81nh5NkDj8V7tXNMpVY9pUwPBQUZyY)

You can also help Kodadot reach its carbon-neutral goal by donating and minting this beautiful [NFT](https://kodadot.xyz/rmrk/gallery/14833549-72315CED12F4730948-S.O.S%5FPORT-ANCIENT%5FTREE%5FOF%5FSOULS-0000000000000001).

![](https://ipfs.subsocial.network/ipfs/QmdmDE1AXiEC2kQPNHK6i9C6BgCNyQSTA4ymhXUPDyPMTF)

**DOTBrno** \- Community is all set to meet on 10 Nov at #DotBrno [DotsamaPrague](https://twitter.com/DotsamaPrague).

---

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In pursuit of simplifying the different blocks of the chain metaverse

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Kodadot -Expands to Basilisk & the upcoming DOTBrno

This article is a Halloween Special!

Halloween is going to be massive for Moonsama!

FYI, Massive for Moonsama translates to chaotic and fun!

---

## **Moonsama**

The first multiverse gaming project connecting NFTs from different chains. It features a Multiverse Bridge, which is key to unlocking NFT interoperability. The Multiverse Bridge connects multiple metaverses from multiple blockchains. The team has demonstrated its use by connecting with Ethereum, Moonbeam, and Moonriver.

As per [DonnieBigBags](https://twitter.com/DonnieBigBags), Moonsama, with over 140m invested in NFTs, is not a project but an entire ecosystem. It is also why they're building their own NFT 2.0-focused, enterprise-grade Layer 1 blockchain called EXOSAMA NETWORK. And Exosama NFTs and Moonsama NFTs are the pillars of the ecosystem.

***"Expect Exo utility.***

***Expect our blockchain.***

***Expect Halloween "***

![](https://ipfs.subsocial.network/ipfs/QmZuYQZzSkmECJgsVbu5LKRwKJ8AKMpg7UFNcTavMJ6eFd)

If you’re well versed with all the happenings in the Samaverse, read along. However, if you want to know what Moonsama is and the chaos I am referring to, give my following articles a read -

[$POOP - Not a shitcoin](https://app.subsocial.network/4473/poop-not-a-shitcoin-35750) & [$POOP - Bringing the power of XC 20](https://app.subsocial.network/4473/poop-bringing-the-power-of-xc-20-35885).

While the original plan was to launch an L1 with Proof of Authority NFT-based governance, it was altered to launch an L2 EVM chain simultaneously, as the wait time of 3-5 months was estimated too long by the team.

![](https://lh5.googleusercontent.com/1wdINaze0zVoSObgdIjIV46AO-skkQSLzm3RCYp3EjlujDFI9fyY6thbuR9I2PTKZ8DnjxSB638tPy6LiX1j7c2AzH5E1vaONUWLRf0TFzS2cGZZvfB0TdHcAcNZ2gmzoFewtHhjdJBIPQQ6lkmdBKba6DnEZE7Qm653r77eCnK22T9l0rw9NBLkRQ)

The team’s plan is simple but ambitious and, more importantly, always subject to change. If you listen to [this](https://www.youtube.com/watch?v=-x7aHP64d9g) podcast, you will know exactly what I mean.

Citing technology for Layer 2 rollups not being up to the mark coupled with the desire to create their own ecosystem, the team has reverted to the original plan of building a Layer 1 EVM-compatible blockchain on Gnosis.

![](https://lh3.googleusercontent.com/eugR-eGIzzj_dVa1gwxDm4MjNc5QYoIWD4VIPBAsKh8GY8O2Ajk3cFbZjSjMTATcpDgoIKBaI0AIuBFOKcSuOb1quCvqkCs5UeOIOCurHhzLjW65YcViK35UzR-AcrHOB0KtihdN5uTN9yIU5eOxwtfLiVMRfDdCk99b_hf8ClI_pm8-9kX2m23AZQ)*2 days until Moonsama launches the Exosama Network. Are you ready for some CHAOS?*

## **Exosama Network**

The Exosama network shall play a crucial role in connecting Web 2.0 games with in-game items to Web 3.0 blockchain assets and vice versa. This standalone EVM chain will be built on Gnosis, transported to Substrate, and eventually become a parachain.

Slated for launch on the 21st of October, Exosama shall be the first blockchain in the world with an NFT-based governance model. In addition, the players shall solely mint the gas token of this metaverse-focused chain.

As stated, the Multiverse bridge currently accommodates three blockchains

1. [MoonsamaNFT](https://twitter.com/MoonsamaNFT) in $MOVR
2. Gromlins in $GLMR
3. [ExosamaNFT](https://twitter.com/ExosamaNFT) in $ETH

Thus, the Samaverse currently boasts inhabitants from Moonsama's ($MOVR), Exosama's ($ETH) & Gromlins ($GLMR) with 1000+ players (& growing rapidly) playing games with each other every week. The strength of the Moonsama community can be gauged from the chart below, which indicates an ATH in active players playing Carnage, a Minecraft-based game where users mine and craft resources.

![](https://lh3.googleusercontent.com/2QimOVPK1fhYy98nyuHekDQdO3RQlAK_CqTybn_1PM4thYFvlOMwgYF7qrErtRbmJVJFE7xYLxmjcGwSK0USQ0PGJ8shbCNZTPU88RR2czQ1MbJ_dHKEGSSKhxdxYWRAUBMVubSbHtomCoteeyx1tKkJEFqWqWA58ZKGh6C9UlJVh-x9u9uU5WPOFw)

Exosama network is intended to tackle problems left unchecked by other blockchains, namely governance and speed. Current blockchains cannot cater to the world of gaming and NFTs. NFT transactions can be complex, and the space offers no solution for mass adoption.

DonnieBigBags states

* Exosama shall boast a sustainable DAO model
* Rope in people outside of crypto to come and play
* Build a community of like-minded, passionate individuals

## **Tackling speed with Proof of Authority (PoA)**

The PoA consensus model is faster than the Proof of Work (PoW) and Proof of Stake (PoS) models and more scalable.

To understand PoA better, let me briefly describe PoW and PoS.  
PoA, PoW, and PoS are all consensus mechanisms that relate to the creation of transactions and the confirmation of blocks on the blockchain. The goal is to achieve distributed consensus- validating others' transactions while maintaining integrity.

**PoW**\- PoW consensus algorithm requires participants to solve complex mathematical puzzles in order to propose a new block and earn a reward. The process is referred to as mining, and the nodes that engage in mining are called miners. However, mining involves costly and energy-intensive devices to secure the network. E.g., Bitcoin.

**PoS**\- Introduced as an energy-efficient alternative to PoW, PoS requires validators to hold and stake tokens in return for rewards. An algorithm ascertains which validator gets selected to add the next block to the network. The higher the amount and the longer the duration of the stake, the greater the probability of being selected. Additionally, the staked crypto incentivizes validators to act in the network's best interest. E.g., Ethereum, Cardano, Polkadot, and Avalanche.

**PoA**\- A variant of PoS consensus, PoA requires network participants to stake their identity and reputation instead of tokens. It is energy-efficient when compared to PoS as it deploys lesser computational resources. E.g., VeChain and Hedera.

The perfect consensus mechanism doesn’t exist. Each has its pros and cons. However, in light of Moonsama's goal of achieving speed and scalability, PoA seems apt.

## **Exosama and PoA**

Gavin Wood coined the term PoA in the year 2017\. In the case of PoA, known and trusted entities are responsible for validating transactions and creating blocks. Thus, individuals are incentivized to secure the network as their identity (read reputation) is at stake. Unlike the PoS model, which gives preference to individuals with higher amounts staked, PoA is automated and doesn’t require constant monitoring.

Additionally, becoming a validator on a PoS network is easy as validators only need to buy into the position and essentially own enough tokens and the required equipment. In contrast, PoA requires validators to pass a series of checks to become eligible for staking identity, and the number of participants is pre-determined.

A PoA consensus mechanism offers improved functionality and higher throughput and is far more sustainable than PoS and PoW. It is more scalable because of the small number of block validators.

Though the adoption of PoA has several advantages, it does sacrifice one of the basic principles of cryptocurrencies - decentralization. In order to achieve high throughput and scalability, a lesser number of nodes end up safeguarding the system. This puts the network in the hands of a select few and leads to more centralized control. However, Exosama claims to be built for **“cheap and fast transactions without compromising decentralization due to NFT governance.”** Obviously, only time will tell how this plays out.

Speed and scalability are key to a gaming blockchain, and the PoA algorithm delivers both. The limited number of validators (unlike PoS) enables faster transaction finality (faster block times) and higher scalability. The minimal transaction cost offered is ideal for gamers.

## **What does all this mean for $POOP?**

**Recap of POOP’s utilities**

* Native governance token of Raresama NFT Marketplace (launched as the Opensea of Dotsama)
* Underlying token of the Pondsama game

**WIP**

* Gaming token of the 3D browser-based metaverse, which doesn’t require users to download anything, making it extremely accessible!
* Gas token of the new Exosama network.

Apart from the obvious advantage of being the gas token of a metaverse-focused L1 chain, POOP will benefit from the PoA model, making it non-inflationary in the absence of staking incentives for the validators.

**Dropping some Alpha**\-

* Donnie believes MoonsamaNFT holders are most qualified to ensure the network's security. The entities for PoA consensus will most likely come from the NFTs that users have collected over time. So if you want in, go get yourself some Moonsama, and if you find that expensive, head to Exosama NFTs. Moonsama NFTs and Exosama NFTs shall have different utilities.
* Play to craft is the future. The team has received considerable funds to build cool stuff, and Battle for Nova (a game around Exosama) shall be their next priority.
* Since the new chain is set for launch in 2 days, this week in Carnage, users might see the $POOP refineries. These refineries will be used to convert $POOP into EXN (the new token).
* Looking for a Pre-Sale of EXN? Accumulate $POOP, then convert it to EXN.

![](https://lh6.googleusercontent.com/kwYLq8KRQhQWYgVX9gSbJ5YK_YD26gNMrY4m4CJQl23Y6XmqLMOrwB2c8z7FyCmhd1uShvS5dyRTaSHIHRnwjukcb8tl6hjiIiG4C16etWshMZJ5r_6q8i0uMrOzhmbVfAoaPn9wXufMJzDTmgwnyxt8mJ48WviGZyXHRMxe7sBExO3gWA-iODdDGw)

* Looking at POOP right now, it's easy to gauge the value it shall hold in Moonsama and Exosama infrastructure and the $140m+ ecosystem.

![](https://lh5.googleusercontent.com/eWEuS_wnuK2aBN8NRLP7gURv6rWmvpfISKrbTQPUnRUxswKBKgvCaPlkW6GWil3r-tc1EItACtVVBFfNng6CEgKmT8rqGs_2UqAtgz98Ecv4QABW87TyRmHjN8IOvnPvxcwsmiGtXYUOpo3nDZ0UlqDiTEehnE8WAnJThHiIiJVu9GakrWnyRxvbwQ)

## **Closing thoughts**

Donnie and the team are focused on a truly community-owned future, and if you want to partake in this VC-free culture

* Play Carnage
* Farm pumpkins during “Hallowsama”
* Refine $POOP ASAP
* Participate in the community (Discord, token-gated chat, voting)

And most importantly, enjoy the chaos in the ecosystem!

---

If you find this helpful, please consider supporting through subscribing and following.

**Everythingblockchain** 🧐 - Freethinkers, Writers ✍, Blockchain explorers 🔭  
In pursuit of simplifying the different blocks of the chain metaverse

**Socials**

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**Referrals**

[Braintrust](https://app.usebraintrust.com/r/everything1/), [Presearch](https://www.presearch.org/signup?rid=2491437), [Binance](https://accounts.binance.com/en/register?ref=12626399), [Kucoin](https://www.kucoin.com/ucenter/signup?rcode=rJCLFS2)

The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Incoming Halloween & Exosama - Load your POOP Bags

Bifrost is a web3 derivatives protocol that provides decentralized cross-chain liquidity for staked assets. It leverages cross-consensus message (XCM) to provide cross-chain liquid staking services for multiple chains. With the release of [420,000 KSM](https://twitter.com/bifrost%5Ffinance/status/1586717719776227329?s=20&t=60JWWBZENnFk3iCm3xOGSA) from the third batch of Parachain auctions, Bifrost’s SLP lets users maximize rewards through cross-chain staking.

## Introduction

[Bifrost ](https://bifrost.app/dashboard)is a derivatives protocol that offers cross-chain liquid staking through Polkadot’s XCM. For more info on Polkadot’s architecture, read this [article](https://medium.com/coinmonks/polkadot-a-heterogeneous-multi-chain-framework-bedde620e38e). Users can earn staking rewards without locking their assets. With the help of cross-chain messaging scheme (XCM), users can transfer assets between parachains without the risks of using a bridge.

While staking is fraught with locked capital, liquid staking provides users access to the locked funds via their liquid derivative coins.

The lockdown period for staking Kusama is 7 days. However, Bifrost offers liquid staking for investors without losing access to the liquidity of their assets through Staked Liquidity Protocols or liquid staking (SLP). SLP is facilitated by minting derivative tokens on-chain that are liquid representations of staked assets. The liquid derivative token can be utilized as KSM for DeFi and on all Dotsama. Essentially, Bifrost provides investors with a lucrative investment opportunity by removing the opportunity cost associated with staking KSM.

The third batch of Kusama crowdloan, constituting 420,000 KSM, was unlocked on the 31st of Oct. And in today’s guide, we shall cross-in KSM through XCM on Bifrost, stake KSM for vKSM, or redeem vsKSM for vKSM and, as a bonus, deposit vKSM into the single token farming pool.

Still not sure? The attached image outlines the benefits of minting vKSM with your KSM.

Additionally, over 227,000[$KSM](https://twitter.com/search?q=%24KSM&src=cashtag%5Fclick) has been staked and minted so far on the Bifrost app. ![](https://lh3.googleusercontent.com/6UggTP-Ew3UCg5cIx8Sknr-SctXGPVcw47UCTqDEYmYvLR4bwHDD4jlSg2hahmuTFrQDN_Z5YlFlyRtTWAhxLk9-mdrv0cvCTDwq_TBpaRNdSMnT6YqzwrQTEb1L2GP6peQ9QvJ5dvUR-T0SmuPTTyuoQsIUUHVSyG5JMFltzBGCvdGd89YGfiFmME7RzA)

## Staking & Farming Guide

**Step 1 - Stake KSM by minting vKSM**

There are two ways to Mint vKSM

Option 1 - Redeem $vsKSM for vKSM (applicable to crowdloan participants from 3rd Kusama Parachain Auction on [@Picasso\_Network](https://twitter.com/Picasso%5FNetwork), [@BC\_Pioneer](https://twitter.com/BC%5FPioneer) & [Quartz](https://twitter.com/hashtag/Quartz?src=hashtag%5Fclick) from [@Unique\_NFTchain](https://twitter.com/Unique%5FNFTchain))

* Log onto Bifrost and connect your wallet. (Still waiting for an option to switch to dark mode)

![](https://lh6.googleusercontent.com/OJP7_oXY4IxaDIxDWG3-ewCMv6wwokNnd0kbJiZOq3o-QJNzWWn4Oa49HUv43n2Z48P2k-AZoamks7KdNzElKphsyT7IWzO7HSdXQLNCub5dRsoC278X-vPVDU8DFPgACEZ45yUy3V4UpAMxFhoAObnWe5wOAAcBlnMs_tCsnwScFMuELJO0Fck3a9C46Q)

* Click on vCrowdloans

![](https://lh6.googleusercontent.com/yAJZTBwephRdl0VUHWpGv-IYT6qoNX2W4R3dNCXiyNj3m2BCE2yCol1Ux5S9GWhe-Wv8XfGD08TdqV1rFtVbun5OfoMj7_eNOq94lzWii456YmE7FXpCmCqAv_aWJxmeh5CnAkGHPrtgO1fayaVxwKT6wz2aKOK67p_QFp_U3JAnHarDkw3rCTpza-qcMg)

* Select Redeem vsToken

![](https://lh5.googleusercontent.com/hs66tdWRnsr25P6XuQlLCn9iJrsVtKGn_yQLHslVDXeBN8v562_pbvkCIbijvUS1m4kQ7dyKBBRvh7nAM_bP8x43ZwIQrQ5JbFROQd7tmDuuV36nXrGxCpYH_dVYROjNOGpo85Yu05HiW-TAbj5xr2jLqqVId3PbnHUWMhJPeIMtCQlTWdHbjDaYF7C3GQ)

* Select the network & input the vsKSM to redeem and mint vKSM (earn 37.73% APY)

![](https://lh4.googleusercontent.com/yjuCXcfUSwssgNuUWvi_oPRsVh26lo4xgXJKGVoxXyLvfAGYPBQIoylyTp-XuFmCxfo48yljRhQfPNHtxymP1SxO80FQjuMYnQHKrAs-phTKTxc8x6RtLTd5QTso3aVFm9gqncK28A78z-jf0ES31i-GIg9v-M-iDXCxCnGA6Muceqm8INovet2AbqmsxQ)

* Input the amount and click on Redeem

![](https://lh4.googleusercontent.com/Fy-rOZpBBuXXlZmztSvULVN940DPEV-_vMdKuAx8Ha-7fu5zgm4XOL-8UDOChslGqiPgi4GHUT2OaYtjPemOReMOQh4cvymicO7FtThCP3d1UEUAkOljJDue84PHNICw8BmUzpI6v23dCOWcFnBLPSCZW_8p5PhGv9jLQ9Bc4TqFUrAWI0e68IxPva3PZA)

* Confirm the processing and sign the transaction. And with that, you have successfully redeemed vsKSM & minted vKSM.

Option 2 - Cross-In Kusama to Bifrost

* Click on Cross-in.

![](https://lh3.googleusercontent.com/khfku7BjGg-dAgz8Tbw4FKUZ5uzMn1HZO_ZtIRMO1OhRlDjNaDaUSJ5RIiHCfvFngozt3dGiKTjWpewEux6lKujwpyxJTnaranSl_sccbqpYrMi927O6nb9Wbq7yQZ5QZuFR0VRjwGlJtFXqxPC8FeqKdZ25uTVcsAKSm23ehbGPImNN-0eMANu_kDXCDA)

* Enter the amount of KSM and click on confirm.

![](https://lh6.googleusercontent.com/gEtPQCvPYyeOF-TqmykyFnCkLktmIRwntxojcOFpqHjknAS-WsG6UH1FqD9jrLQsX7_KZOS-558r2ZsWc00p8Rcnmy5IZU2mEoFwX7Eeqj4x7n41wFLgXx6yOCi-BtE4KHQkg0lr6Btns6OoQYgYump4oozdFQ5UB59XgjS-Y7TNFlmBr_73Byd4xEnleA)

* Click on confirm once again for settlement confirmation of KSM from Kusama relaychain to Bifrost and sign the transaction in your wallet.

![](https://lh3.googleusercontent.com/_EYJ0cFTQQM6NDM33xQoYYifos4kKy_bYj6TNrhzwH1GlLtnf0tpGCsLjRUoBMOIsw9yAspTV5MPMpFZmGcwBeOmtX_vffMRVRmCVq0G-K9wcn3KJ7a7yC9uD6R-VLAvZpxr1Hy0ARZJq-fpmpMmS5x8_6lRcf5HpPxPRagCX1dI3B0UJ1v4ysJ3Sy3MaA)

If you’ve chosen **option 2**, then you need to swap the crossed-in KSM for vKSM to start earning the staking rewards.

* Enter the amount of KSM that you want to swap and click on Mint.

![](https://lh3.googleusercontent.com/gcLrdTa6vqDmmV9ohRuIW9XNd3GntqVi1z0eUEuKWV9yVcnRE3iso2nUzy2V4_LpWKBm1CtCgScdFL0N4MkfVyxuBdxmEJwsiZq_9hSjr7-Ag1rYa44bRTQp6pujVx-Flh9Y0Iuz3Jfb0Zs45cbJq3g_2vordqRkxJJsvAh7yV-dTPQH7OL6IODKjhCKMg)

* Click on confirm under settlement confirmation and sign the transaction in your wallet. Once confirmed, you will see your staked balance at the top.

![](https://lh6.googleusercontent.com/uV00sEbiTNTgn-LV65kgK5ayu_9UWUc_MfDJEs0fYdwJYLSCd-FRua3gfkPjPILZHNg8K88L7qTuHj2eC7F77bWPH0NwKA7D55MZqOiSivmWcktWHsMByVLwppnPOoHtT29R-96BWwYNZoIRf4DfpxUI53O6JEHBB68JXF7QbImuKJeBoiCYjUUf8pVobQ)

**Step 2 - Stake vKSM for Farming Rewards**

vKSM offers a farming APY of 27.35% offered in BNC.

* Click on the Farm option to navigate to the farming section.  
![](https://lh3.googleusercontent.com/mjzzD815h9Oe9GopEwoRNznrxiY8Dolvgvw1DWIHgsMVR-L-0c9c-bits7Hu_hS4eDVxp1jPYqF7wYWYcOtz58q-tm6bPtzh2LUYNj5GvoLAEH1ope1kwEdfvjU5_g0OV-MPU1HUF5px73AIfs1Ih-lI6dbEGiSuLgIxUn9rSkwPLwgccRvqroeYbZmX5g)
* Select vKSM farm.

![](https://lh5.googleusercontent.com/OvAV8qO46CTVcXODHs8oM3wB6thCsKQVQLB0SvXm87dJYkq8RtK0uPQQGjZnTqeYAA3iGAn2SYUD3OLJW4tH7MvJf1hs6BJ7UkP2_hLJ2ocG08Gs-u-HyBjTuYir9hTyXXEF4gSWiuVglcRvK7CT-Q_3mgLh_vHwGO0rj-gw1GIFBhKN8H315NGXe4ovmQ)

* Enter the amount of vKSM that you want to deposit and click on deposit.

![](https://lh4.googleusercontent.com/7gDPNGJstVJwa0mDopmAWS9bOieUXW_yeq7330WASpsaGSsonRSf_XJAZEuqu-YlB3GpePuSNwsHFongJZFmjmGlLaVEw-sn0CZj543Y-kJk39rKupsvNTMaEbIdRo6dWmVklCxjLFaqkDSSjpHSJYUqVWRJvjvHhLpwx3nny572vHrw9IfwMisvZIB84A)

* Click on confirm under settlement confirmation and sign the transaction in your wallet.

![](https://lh5.googleusercontent.com/wSm-Lh12UkwTd-ynnNn8DxJesF510mRXCfG98naGypGkwd_fNL3K81R4atyA31HakN7PcbZmPBlybJpfLqCFB4Vl2HPu0OZX4Ll3lHteAztAOaZAWYVDwiZCvYVcKwMrAwEuO1KMWLbjfGrqwSZVFBPeUma_iw6krlFL-EKenypqi8XNCJSUU2Dv5eZaJA)

With this, we have successfully deposited vKSM into the farming pool.

In other news,

Bifrost has introduced two new Farming Pools 🔥🔥

🚨 The $BNC / $USDT

🚨 $vDOT / $DOT

Want in on the high yields?

➡️ Click on the link <http://bifrost.app/farming>

---

If you find this helpful, please consider supporting through subscribing and following.

**Everythingblockchain** 🧐 - Freethinkers, Writers ✍, Blockchain explorers 🔭  
In pursuit of simplifying the different blocks of the chain metaverse

**Socials**

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Bifrost Finance - A tutorial on Liquid Staking

*Blockchain platforms are emerging at a rapid rate. However, the need for interoperability is diminishing the network effect that could exist between these platforms.*

The power and value of exclusivity enable individual platforms to attract users but prohibit the industry from unlocking its full potential. For a global economy that is becoming increasingly digital and data-driven, individual blockchains must be able to communicate with each other to ensure the large-scale acceptance of blockchain-based applications.

To oversimplify, **interoperability** refers to the ability of disparate ecosystems to seamlessly exchange data and transfer relevant information between each other sans any centralized entity/intermediary. This is essential to alleviate the roadblocks that stifle potential growth.

This paper compares Polkadot, a Layer 0 multichain protocol, with Cosmos and Avalanche, both L1 blockchains.

---

## Overview

Polkadot, Avalanche, and Cosmos came into existence to address the low latency and scalability issue crippling Ethereum, the largest smart contract-focused blockchain with one of the most secure and battle-tested architectures. However, these blockchains do more than that, with their bet on interoperability, the focus is on the bigger picture - ***a multi-chain future***.

### **Polkadot**

Polkadot is a heterogeneous multichain framework that connects application-specific Layer-1 blockchains (referred to as parachains) into one unified network via the Relay Chain. The relay chain is responsible for security, consensus, and cross-chain interoperability across the entire network.

Despite technical differences between public, permissionless networks, private consortium chains, and other Web3 technologies, Polkadot enables an internet that provides seamless communication and transfer of value between distinct networks under common security guarantees.

The network runs on a sharded model featuring multiple blockchains running in parallel and connected via the Relay Chain. The Relay Chain allows Polkadot to process transactions from all chains in the network at the same time, eliminating the bottlenecks of legacy networks and significantly increasing scalability. The simultaneous transaction processing, also called parallel processing, is why blockchains on Polkadot are called parachains (short for parallelized chains).

![](https://lh4.googleusercontent.com/a9Rme0P1f9blhag2vVuQXXEuJ2jBu-IAyjMeaWmhM8eDhB1i9JM8aTFc8mZOUFG__x1p38HL9eytg6ftcfwo9f2YZJTuFVvavNLvnJTNLoZeDoljx123L0Mb8YTaJfvh_gsM6T0T-cgod_UH_qhsJn91etVhE2k4JoyeAyze_Ej4Xvj9qmBOj7NJmMwcPA)

Parachains are sovereign blockchains offering specific use cases and featuring their own tokens and governance mechanism. As long as a Parachain's logic can compile to WebAssembly (WASM) and adhere to the Relay Chain, it can connect to the Polkadot network.

**Substrate** is the technology underpinning the Polkadot ecosystem. All chains made with the toolkit are compatible with Polkadot and, as such, gain access to its speed, security, and interoperable ecosystem of parachains and applications. However, building with Substrate on Polkadot is optional, and the two are not dependent on each other. Blockchains with alternate software can also be integrated as shards (parachains) on the Polkadot network. Similarly, blockchains made with Substrate are not compelled to join the network and can be launched stand-alone.

The Relay Chain forms the basis of the Polkadot ecosystem and is often referred to as the foundational layer of the network. It is responsible for securing, governing, connecting, and ensuring the seamless functioning of parachains. The Relay Chain does not support application functionality. Its primary task is validating the state transition of all connected chains and providing a shared state "State of States" across the entire network. Parachains connected to the Relay Chain can execute smart contracts and support dApps, besides the creation and transfer of assets on the network.

Security is paramount when transferring data between parachains. Polkadot ensures this security via the Relay chain. In addition, the Relay Chain provides a secure way for parachains to communicate with each other.

![](https://lh4.googleusercontent.com/22DHfE9pA7EUXv2CmQWEJ9P3ZpdthGixfe4kDHeAEZzZSBTQWpRwvOmta83B7is99N8VnH7v7jLunD7YR43LujpALIbcdFXfFWiJFj0-kQJqVjlvD0gKCK6m0smo-9gToTpBxX7KInhxrvkDw4QVoRjb4LiXEyF3ZYmG0D2XRDx07c8-88sCaPi4NyxZig)

Polkadot's cross-chain messaging scheme (XCM) facilitates the exchange of data, allowing for true interoperability and creating a new paradigm of interchain services, communities, and economies. Developers can leverage and build on features/offerings of multiple blockchains rather than being restricted to the features of a single blockchain. Moreover, parachains can incorporate Layer 2 solutions on top of them for enhanced scalability and efficiency.

![](https://lh4.googleusercontent.com/QEFYIlJK1UCFkIaEm35jG2bhpMmy2AnDpoZDEXZXyJb4rOONyI9qi8d2VD-Woe48Zwc_EL8EwjF4IxXctSFXd0GK4AtN3REk4AiXuDo9ujPzDsB5Ia5zr_4z_B4PuX1Y7XZMnx2fV6pfJi3AhmX_ndVX3Cg60XV3vwT9Y9nfKxHEWkGtlQtA1iETO7gfzg)

Additionally, Polkadot's design delivers on blockchain technology's promise of a Web3 future that returns individuals' control over their identity and assets secured from central authorities and internet monopolies. It enables blockchains to scale, specialize and work together. The network boasts an advanced suite of governance tools and, using the Wasm standard, can autonomously deploy network upgrades. In essence, the network is future-proof as it can adapt to growing needs sans the risk of forks.

Next up is Avalanche, a network that adopts a different approach than Polkadot but shares the goal of improving blockchain technology, specifically interoperability, scalability, and usability.

### **Avalanche**

Developed by Ava Labs, an open-source platform, Avalanche strives to deliver high performance, extreme scaling capabilities, fast confirmation times, and affordability. They claim to be “the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality.”

Avalanche has a unique tri-blockchain infrastructure to aid crypto developers in making smart contracts cheaper, faster, and more scalable. The C-chain (Contract Chain) allows for compatibility with Ethereum’s features and tools, the X-chain (Exchange Chain) allows for digital assets such as wrapped tokens, NFTs, and stablecoins, and lastly, the P-chain (Platform Chain) coordinates Avalanche's validators and the creation and management of subnets.

P-Chain and C-Chain utilize the Snowman consensus to enable high-throughput secure smart contracts, and X-Chain utilizes the DAG-optimized Avalanche consensus, a scalable protocol that enables low latency and fast finality. Avalanche boasts a transaction throughput of 4500 transactions per second.

![](https://lh4.googleusercontent.com/bQp3HwXcrWxhRXKfEPh2GCfVfU4PRZTqtNRbaXg_CnWI_Q3JFeKmt0ca2xNaq12shuc1iAsYguTnRB6PZQVR4txvvanl_pCQN3pSF8aKXg663KjTQnlr6JA-WNMaqzBRbH42gbxVX0PAgTk96F69wU7Iy1vUxnRqh9oq45w8NKhkHdH5TeohouyW425UKA)

Validators on Avalanche are required to secure and validate all three chains forming the Primary Network together. This requirement essentially enables easy connectivity and implementation between the subnets.

Avalanche’s core value proposition is its ability to create highly scalable and customizable blockchains called subnets (an abbreviation of sub-network). It is important to note subnets are a dynamic set of validators tasked with achieving consensus on their own blockchains.

Post creation by an Avalanche validator, subnets can outline rulesets for their validators and launch their own blockchains with customized virtual machines (EVM, WASM). They can have their own tokens and fee structures. Thus, Avalanche is built with flexibility and customizability.

Envisioned to serve financial markets, Avalanche offers native support for creating and trading digital smart assets. This can be corroborated by the total value locked (TVL) in DeFi ($12b in Dec 2021). Additionally, the network is designed to enable the rapid building and deployment of dApps, and it permits Ethereum developers to utilize a network with increased scalability and interoperability while still being compatible (Ethereum Virtual Machine).

Moreover, interoperability is enabled within a subnet as well as between subnets. And similar to Polkadot and Cosmos, Avalanche is also able to connect to other blockchains via bridges.

### **Cosmos**

Built to facilitate communication between standalone distributed ledgers sans centralized intermediaries, Cosmos is dubbed the Internet of Blockchains.

Cosmos deliverables go beyond seamless interaction between different blockchains and include the provision of tools that simplify the process of developing interoperable blockchains.

The utilization of Hubs, Inter-Blockchain Communication Protocol (IBC), Tendermint [Byzantine Fault Tolerance](https://academy.binance.com/en/articles/byzantine-fault-tolerance-explained) (BFT) Engine, and the Cosmos Software Development Kit (a framework for building application-specific blockchains) enables Cosmos to provide the necessary infrastructure for creating interoperable blockchains.

Cosmos’ approach is different from the interoperability solutions that involve the use of smart contracts. It offers open-source tools for the development of independent blockchains referred to as zones.

The zones connect to the main blockchain, referred to as the Hub (where all the network’s validators are). Zones communicate via the hub through the use of IBC. Unlike Polkadot, validators on Cosmos are independent (in order to validate on any parachain node, operators on Polkadot need to be validators on the relaychain). Zones operate autonomously and have their own validators which validate transactions. The Hub and Zone model enables Cosmos to be a low-latency network.

Cosmos Hub is the main hub and the first blockchain on the network. It is powered by ATOM coin. Each new zone on the network is linked to the Cosmos Hub, which stores a record of each zone’s state and vice versa.

Cosmos interoperability extends to blockchains that do not have fast-finality (Proof-of-Work blockchains such as Bitcoin) thanks to a special proxy chain called Peg Zone. Peg Zones can track the state of another blockchain and are compatible with IBC as they have fast-finality themselves. Peg Zones act as bridges and communicate with other chains by linking zones and hub networks.

Designed to generate thousands of interconnecting blockchain systems, the Cosmos Hub is a proof-of-stake platform where participants stake their ATOM coins to earn rewards.

Whilst there are similarities between the three blockchains, there are also critical differences that impact the way the networks scale and operate. In the following section, we shall discuss the inter-chain communications adopted by Polkadot, Avalanche, and Cosmos and how they compare.

## Comparison

![](https://lh6.googleusercontent.com/Xt9Gu4vD4JJ9vjmXE-TwaJAKezLOERNbvauPmKkIzf3f1naW4k5D8l_gwsH1O_BU-9vz8SYh-uJlxcfcBOXWAO3e28rWmGSEP5HPS1wFQHgh0SuvOff5YcV5z-QnMMwwTQl77YhBeviPR4YJKsffTpW4kdFpHa36ZqnSRwchOhsRm_P1lK2ghYQsq_khng)

Polkadot delivers on its promise of interoperability via the Cross-Chain Message format (XCM). It is a format for how message transfer should be performed and is defined for use between chains and smart contracts, pallets, bridges, and even sharded enclaves like [SPREE](https://wiki.polkadot.network/docs/learn-spree).

Not only is XCM adjustable to most communication scenarios within the ecosystem it is future-proof and forwards-compatible, making it well-versioned to stand the test of time.

At the modular level, Polkadot has different types of message formats that allow communication between its constituent chains

1. Vertical Message Passing (VMP) - which comprises UMP (Upward Message Passing for parachains to send messages to the relay chain) and DMP (Downward Message Passing for the relay chain to pass messages down to one of its parachains)
2. Cross Chain Message Passing (XCMP) for parachains to exchange messages with other parachains.

Parachains utilize XCM to send arbitrary messages to each other. They open connections to send messages through established channels. Polkadot parachains lease security from the Relay Chain, they do not have their own validators. Full nodes of parachains called collators have no security responsibilities and can interact without trust. They simply collect the states of the blocks and submit them to the Relay Chain validators. The shared state amongst Polkadot parachains creates a trust-free environment where security is cooperative, not competitive.

Additionally, Polkadot has a protocol (SPREE) that provides shared logic for cross-chain messages. The use of SPREE for messages carries additional guarantees about provenance and interpretation by the receiving chain.

**Moving on to Cosmos.** The architecture of Cosmos differs from Polkadot in that it doesn’t have one central hub (relay chain) but several. Unlike Polkadot, where every parachain is supported by the same pooled security, zones connected to the Cosmos Hub do not have uniform security. They maintain their own validators and utilize IBC, the cross-chain protocol, to facilitate the transfer of data (primarily tokens) to other zones by routing through the hub.

While IBC brings Cosmos closer to its goal of becoming a truly interoperable ecosystem, it is important to note ​​the network is as secure as its least secure chain. Efforts are being made to ensure the protocol becomes more powerful and secure. The implementation of interchain security (shared security), which is Cosmos’ solution to the security bootstrapping issue, is in the works.

However, at present, the multi-hub architecture of Cosmos connects chains with independent security guarantees, implying the receiving chain must trust the security of the sending chain (origin of the message) for inter-chain communication.

**Next is Avalanche.** Avalanche and Polkadot boast some similarities in their architecture as they allow for application-specific blockchains to be designed and connected to a primary network. In Avalanche, there are 3 main chains - the P-chain, X-chain, and C-chain, whereas, in Polkadot, the primary network is the Relay-chain.

However, subnets on Avalanche do not share the security of the main chains. Nor does it have a native trustless message-passing mechanism. It relies on bridges for interoperability. Though, its EVM-compatible nature enables it to interoperate at a token level. On Polkadot, parachains, in addition to utilizing block finality and security of the Relay chain, use XCM and XCMP messaging protocols for a native and trustless messaging scheme instead of relying on multiple bridging solutions.

The security model of Avalanche is different from that of Polkadot and, as such, cannot be directly compared. Though the popular belief is Avalanche offers a secure environment for interoperability, in reality, it is akin to a centralized version of Cosmos where self-selected and overlapping subsets of its validator group act as the security on the subnets.

This overlapping network topology results in different levels of security across the chains making inter-shard attacks feasible as messages from the least secure subnet could affect a transition on another subset. Thus, similar to Cosmos, the Avalanche network is only as secure as its least secure subnet.

Avalanche has plans for shared security, interoperability, composability, and on-chain governance. All of which are already offered by Polkadot.

## Conclusion

Interoperability and scalability are essential for blockchain technology to truly thrive and encapsulate adoption. The security guarantees across a truly scalable system have to be the same irrespective of where the logic is executing while still being decentralized. Having multi-chain applications run across different chains without considering the underlying consensus security implications will either bottleneck the security (if run in the high-security chain) or compromise it (inter-chain applications run with the security of the least-secured chain). With Avalanche or Cosmos, while the number of chains can be added, the connected chains are far less secure than the central chain.

In the case of a Polkadot parachain slot, the security comes with the might of the entire network. Polkadot state transitions are Turing complete and executed at native speeds.

![](https://lh3.googleusercontent.com/CKeLw6-AHFy5L7R_2sOmjhzmaOkojiHIAI8xMs1uaAAr4NDTzxWYSVkuNjSZ3vOQqOQiTMzXFpsGoDjpEsH5lJzZQu6X0na9Hg7c5cxYv-nSLqaW-zqJUP3ocrMTZwPkLBVqCsYM4adjaQf29Arl2eAU1aePqY37Ca6Z2BSvAxl6b3WaZbh6yOhhSLU4Yg)

While all three networks (Polkadot, Cosmos, and Avalanche) have introduced an architecture to enable the internet of blockchains, Polkadot is focused on security with a larger developer count apart from being truly interoperable.

---

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Advancing Blockchain Interoperability - Polkadot, Cosmos and Avalanche

Governance is the process of forming a consensus about how decisions are made. For DAOs and public blockchains, decentralized governance is important yet challenging.  

The large size of blockchains necessitates governance for management and coordination of the entire community toward a unified goal. Furthermore, effective blockchain governance is imperative for blockchains to adapt, change and interact. Participation from stakeholders in matters regarding the evolution and future direction of the blockchain has significant effects on existing and prospective users.  

Deemed crucial for the decentralization of systems, sustainability, and changes to the network protocol, the governance process of a blockchain is vital to its success.

In this article, we shall look at the features that enable effective governance and the different mechanisms deployed by three interoperable blockchains - Polkadot, Cosmos, and Avalanche. To understand the technical architecture of these blockchains, feel free to go through the linked [article](https://polkaverse.com/4473/advancing-blockchain-interoperability-polkadot-cosmos-and-36488).

![](https://lh5.googleusercontent.com/NEJ-ET6cFbu2znuPT1ZCBz44tH8dXlaY3O-tnNdKpN-_fUgUCuwtl_owNvW82CSXHeisdoPD_d_r-pfe6IuGjzv2PJUVJbQRaVAyKXGX4jONu_JrM59mdVia0C4QQ6EsNJs0NOKa3tIe0IM64X4WX_tG0TXDf0R2Ak5icpB8n8JSQ6jL8C5aNDsF_thiAg)

---

## Blockchain Governance - Polkadot, Cosmos, and Avalanche

A good governance process is one that allows for maximum community participation, frictionless updates, and implementation.

![](https://lh4.googleusercontent.com/Q8Qb8UU0tbslW9cLNvMC4WHWVr48w3V0fmR_RpKs32Fj2ZMI2IvA8rm_JDYRk8B_peIF5PF-lnuqJOfKWx5DTandxX1uqn0XubnaUK99ksgOE8k7tpFT9383mt9S4n_LkzEwdgbJsccxFN6j56xF0HBcnes0bYPryjd4aH8vCgX6ZoPytd50T9WKBpN97Q)

Let’s dive into the governance framework of Cosmos, Avalanche & Polkadot with an emphasis on Gov2 of Polkadot. It won’t be a direct comparison between these blockchains, primarily because Avalanche doesn’t have on-chain governance & Cosmos is still in the process of implementing one.

### Cosmos

Zones on Cosmos deploy distinct governance styles to suit their value proposition. However, as far as the Cosmos Hub is concerned, it uses a hybrid governance model. 

* Off-chain governance platform for discussions
* On-chain voting for decision-making and execution

The on-chain mechanism is utilized for passing text proposals, changing consensus parameters, and spending funds from the community pool. The enactment of governance decisions is carried out via a forking mechanism (protocol fork), similar to most other blockchains.   

Cosmos encourages engagement from all stakeholders involved. As a result, all token holders can vote on Cosmos. The network expects each validator to vote on every proposal. Additionally, if a delegator abstains from a vote, the validator they delegate to assumes the voting power in their stead.  

\*Delegators - are people that cannot or, for some reason, do not wish to operate validator nodes. However, these people can still participate in the staking process as delegators. Validators on Comos are chosen based on their total stake, which is the sum of their self-delegated stake and of the stake that is delegated to them. This proves effective as it makes delegators a safeguard against validators that exhibit bad behavior.

## Avalanche

An on-chain governance mechanism is in the works for Avalanche. At present, it deploys on-chain voting for critical network parameters, which include (as per its whitepaper)

* Minimal staking amount required to participate
* Minimal amount of time required to stake
* Maximum amount of time a node can stake
* Minting rate
* Transaction fee amount

Thus, Avalanche only permits a pre-determined number of parameters to be altered via governance, increasing network predictability and safety. Additionally, all parameters listed are subject to limits within specific time bounds.   

Anyone with AVAX (the native token of the network) can participate in governance, and any node participating in the network can issue a governance proposal.  

Like Zones on Cosmos, additional subnets on Avalanche have their own unique economic and governance structure.  

## Polkadot 

Polkadot’s new governance model, [Gov2](https://polkadot.network/blog/gov2-polkadots-next-generation-of-decentralised-governance/), is designed to be more inclusive and decentralized as it enables anyone to start a referendum at any time. It addresses the flaws of centralization by removing “first-class citizens” such as the Council and Technical Committee. It also eliminates the alternating timetable of proposals and the public proposal queue.  

The existing tri-cameral governance system of Polkadot comprises

1. A Technical Committee for managing upgrade timelines which makes governance for critical bug fixes faster than usual.
2. An elected Council representing passive stakeholders and managing parameters, admin, and spending proposals.
3. A general voting system for all other matters.

![](https://lh6.googleusercontent.com/vgfoWaKdBWvX65Hg1qBn0jFWroOOuqTgHsAg0jAHZimCA4pjD5t2h4ZvYV0ptkIQBHl7WmzCfB8Y8QxjdOhY8zpJ1oH5OHloxV6GcxFqgD0jmdZvsONC85BSkh-Pcn4CwbaO66q9GfPMfyYi80eJV5zn28FBCCwOYpzWvk99oiI-C7XCwJi344a2aCsXlg)

It is important to note that while these representative bodies exist, all changes must pass through a public referendum. Unfortunately, under the current mechanism, only one referendum can be voted upon at a time, and the process is prohibitively slow with a 28-day voting period. This, coupled with the limited bandwidth of the Council, implies the system favors deep consideration of very few proposals rather than broad consideration of very many proposals. However, the Technical Committee can work with the Council to fast-track a critical technical upgrade.   

Additionally, the Council pre-approved and elected by the token holders can veto the token holders themselves. This setup is an excellent tool for maintaining checks and balances without intervention from external governance actors.  

While the mechanism has its advantages, it also has certain disadvantages; the Council & Technical Committee are primarily centralized, putting the protocol and individuals at some risk. 

## Gov2 - Polkadot’s next-generation governance system

Gavin’s article provides a deep insight into the specifics of [Gov2](https://polkadot.network/blog/gov2-polkadots-next-generation-of-decentralised-governance/). This article gives an overview of how Gov2 seeks to solve the existing problems in the system.  

Let’s begin with what remains the same in the new mechanism.  

* The original Polkadot governance tenet stands. 50% of the total stake, with sufficient conviction, will still determine the system’s future.
* Conviction Voting stands. Conviction Voting gives greater weight to those willing to lock their tokens for longer.
* As does the technocratic collective with modifications in importance, size, composition, and membership mechanics.

The first-class citizens in the current governance will be replaced with a first-class decision-making mechanism - the referendum. The main difference between the existing and new governance is that Gov2 permits lots of referenda, increasing the number of motions that can be passed at a time.  

With Gov2, the proposer can specify which Origin they would like their proposal to be executed with. Origins signify the importance of a proposal. For instance, The Root Origin has the highest thresholds and safeguards. Those Origins which convey relatively little power (e.g., the Tip Origin) have shorter consideration periods and lower thresholds for approval.  

![](https://lh5.googleusercontent.com/Db8JIriy4fNYjjPVqBX2uRLzd7mzhQJhWvRvXi71H2PHsPtRs7Hu7WbSjl8fXHBO32j07-vF1lLQdG3Ffpf5-z16tMQLCREASttyE28mWHNaC1kHl7U_AjqGS6a7yRMIWCd2G0qu49pVJ533V7XCKIYMl67Hidky-jBilH9W5DwEkByeNYDz0lhRO_-3bA)

The origin determines the track that is assigned to the proposal. All tracks have their own limit on the number of referenda which can be decided on at once. For instance, Root Origin has a limit of one proposal.

  
![](https://lh3.googleusercontent.com/pGF1uc3qgJ8UliRUMp5guWpGtDz3aw4GCTkSxgJAqjKu3YOFkfwTx0dFGrQVVEG52zjimfX4BJ8B95NCY7I696EfBHqVTGXFJ4ylSGOgilrH2LAhhwHwAMGWNJDbw3Xs9GG_YEM_A8NEbDQOpYltbbOTppjqk3OxCtR1LdqzKh-d34DMPkA700AdpUE2sw)

To evade the risk of centralization while allowing optimization of the decision-making process, Gov2 boasts a self-governing expert body (The Fellowship). The primary goal of the Fellowship is to represent the humans who embody and contain the technical knowledge base of the Polkadot network and protocol. The Fellowship has no power to subvert the overall stakeholder decision. However, they can reduce the timeline of a referendum. 

The Fellowship is designed with broader membership criteria (it shall work well with thousands of members) and a lower barrier to entry (in terms of administrative process flow and expectations of expertise). One can easily become a member by placing a small deposit.  

Members of The Fellowship are given ranks “to designate the degree to which the system expects their opinion to be well-informed, of a sound technical basis and in line with the interests of Polkadot.” Additionally, a constitution exists to govern the operations and lay out the requirements for the different ranks in the Fellowship.  

Moving on to the enactment of upgrades, using the WASM meta-protocol, Polkadot can implement upgrades and successful proposals sans a hard fork. “Anything that is within the STF, the transaction queue, or off-chain workers can be upgraded without forking the chain.”

## Conclusion

Governance is an integral component of any decentralized system. There is no perfect governance system, only improved iterations. While the governance systems need to be flexible, these also need to align with the long-term vision, values & beliefs. A governance that keeps evolving and building into the future, supporting a broad range of values while offering transparency and trust minimization, is one that we need. And Polkadot seems to be on the right path for now.

---

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Governance on Avalanche, Cosmos & Polkadot's Power Play: OpenGov

2022 saw billions wiped off the market, bringing down heavyweights and dominoes — the collapse of FTX and Terra, the bankruptcy of 3AC, Celsius, and Voyager. The infection is far and deep in the wake of FTX, which has been no short of what corona was for the physical world.

Increased attacks, price manipulations, bankruptcies, layoffs, market crashes, and decreased investments mark the crypto calendar of 2022.

The meltdown that has thrown the crypto world into a frenzy is a wake-up call for the users, investors, and all stakeholders.

The FTX crisis has undermined the credibility of the entire crypto ecosystem. But unfortunately, narratives are always misguided, as is the case here. In all of this, essential information and lessons have been missed.

For most of the non-crypto population, the misuse of user funds by FTX is a failure of crypto as a whole. But in reality, it was a failure of centralized control, the exact thing DeFi is trying to change. In fact, with a $40bn+ market cap as of December, DeFi is a promising sector.

The classical failures of FTX, and the plethora of unethical practices, are impossible in an immutable, decentralized, transparent, and permissionless setting of DeFi.

**And what is DeFi powered by? Blockchain technology.**

Unfortunately, the technology has garnered popularity only in the financial sector (DeFi). But blockchains’ use case extends beyond finance and can secure the democratic process, improve healthcare services, and revolutionize supply chain management, among other social and political applications. The realization of this potential is subject to the creation of decentralized protocols for verifying identity.

Enter Decentralized Identities.

### Decentralized Identities

In the simplest terms, it is a digital representation of an entity/individual/device. However, unlike typical identifiers (passports, driving licenses, etc.) Decentralized IDs leverage verifiable credentials (VC) and blockchain to create digital identities that users have control over and can use to log into various systems without exposing their data to online risks.

By design, decentralized identities eliminate dependence on intermediaries (centralized registries, identity providers, or certificate authorities) and protect against identity and data theft.

### Why do we need it?

In short, centralized systems suck.

The long version ⬇️

Web3 denotes a future where decentralization is built into the architecture and control is returned from tech behemoths to the rightful owners, i.e., users. The ability of blockchain to deliver on the promise of a future free of intermediaries stems from decentralization.

However, in centralized identity systems, a single entity is responsible for storing all digital data. Digital data encompasses all user (individual, group, or organization) data available online, from photos and emails to physical identity information. E.g., we all use usernames and passwords or OAuth2 to create an account (Facebook, Google, etc.) or to access certain services. In this model, the data is essentially the property of third parties (big tech).

All of our information is housed in siloed databases creating a single point of failure. Additionally, these databases can be compromised through security breaches or centralized attacks. Thus, data tampering/loss, privacy breaches, and cyberattacks are common, raising concerns over the integrity of the systems.

Decentralized identities replace password-based logins with decentralized authentication. They allow for greater control and privacy enabling users to have better control over data. For example, users can selectively share only the necessary information to verify their identity rather than giving broad access to personal information.

Decentralized identity systems return the control and management of data to the users. It is the user’s prerogative to decide how to share the data and with whom.

The setup helps evade the issues that stem from the inherent insecurity of centralized systems and poor cyber hygiene.

Decentralized Identifiers, Verifiable credentials (VC), and blockchain tech are essential elements of Decentralized IDs.

**Decentralized Identifiers (DID)**

Decentralized identifiers are globally unique identifiers. DIDs enable users (individuals/entities/organizations) to have a cryptographically verifiable, decentralized digital identity. Created and owned by users, DIDs are decoupled from centralized registries and certification authorities.

#### **Verifiable Credentials**

Verifiable credentials are a digital representation of physical credentials and digital credentials (with no physical equivalent). VCs, as the name alludes to, are verifiable and respect privacy. The use of digital signatures is the equivalent of the anti-tampering mechanisms on physical credentials, with blockchain enabling instant credential verification.

#### **Blockchain**

In contrast to centralized systems, blockchains are more fault-tolerant, attack-resistant, and collusion-resistant. Blockchains provide a global, decentralized, and distributed peer-to-peer network architecture that can tolerate localized shutdowns. All information is publicly accessible to the network participants who are entrusted with validating the legitimacy of the data by utilizing cryptography. Blockchain’s functionality as an immutable digital ledger helps address some of the significant shortcomings of using centralized identity systems: inaccessibility, insecurity, and fraud.

Below is a breakdown of the elements forming part of the decentralized identity setup.

* **Issuer** — The entity responsible for signing and issuing a Verifiable Credential, writing it in the decentralized ledger, and transmitting it to the holder.
* **Holder** — Holders are users and owners of the identity. They are the ones that create a DID and receive Verifiable Credentials from the issuer to their wallet.
* **Verifier** — Refers to the receiver/destination responsible for verifying the authenticity of the VC using the issuer’s DID from the ledger.
* **Blockchain/Ledger** — Refers to the digital, immutable, decentralized, and distributed ledger that acts as a backbone for decentralized identity systems. It provides the mechanism for DID creation and operation. It serves as a verifiable data registry.
* **DID document** — Created and owned by users (individual/entity/organization), DID documents describe the Decentralized Identifier (DID). The DID document contains details such as the public key, verification information, and service endpoints to securely authenticate and interact with DID.
* **Identity Wallet** — A digital wallet that allows the issuer to create and manage their decentralized identity.

Let’s now understand how decentralized identity works with the help of an example.

John wants to apply for a job opening in Firm XYZ. So XYZ requests his educational qualification certificate. Now in Web2, this would entail sharing the soft copy of the original certificate and then XYZ corroborating its authenticity with the issuing authority (University ABC).

In Web3 and with a decentralized identity, John can simply upload his digital certificate on Firm XYZ’s portal. The Decentralized Identifier will authenticate he is the actual recipient.

Alternatively, John (Holder) has a digital certificate that contains a DID. This certificate is signed using a DID that is published and verified by University ABC (Issuer).

XYZ (Verifier) requests John to give permission to view the certificate. At this point, John accepts the request so XYZ can authenticate the digital certificate on the ledger/blockchain.

Basically, the University ABC (Issuer) issues the educational qualification certificate verifiable credential that belongs to John (Holder). Then, ABC and John digitally sign the VC with their respective public keys. The signatures are eventually verified by Firm XYZ (Verifier) to authenticate John as the certificate recipient.

This example demonstrates the kind of application VCs can have in various sectors/businesses. Additionally, they eliminate the possibility of tampering and forgery.

Imagine if you want to rent a house. All you need is proof that you have enough money to pay rent instead of sharing all financial details with the landlord, which is the norm. However, with DID, your bank issues a VC stating you’re in a position to pay the rent (serving as cryptographic proof).

Now, let’s move on to how VCs differ from NFTs because, on the surface, they may seem alike, as they uniquely identify entities in the digital world; however, they differ in their construction and application.

### VC vs. NFTS

It’s true that VCs are associated with individuals and can be stored digitally, as is the case with NFTs. However, NFTs represent ownership of digital assets/resources, whereas VCs represent facts/details about the subject (entity/organization/individual).

Moreover, NFTs are associated with public wallet addresses meaning anyone with the address can view the NFTs the user owns or has ever owned. On the other hand, VCs are privacy-preserving and aren’t publicly viewable. However, users can share when required. Furthermore, VCs allow selective disclosure (disclosing only what is needed).

Next, let’s talk about implementation. VCs, as explained above, use public key infrastructure and digital signatures. NFTs are based on blockchain and time-stamped, making the verification process relatively easy. Additionally, any change or transfer in ownership is known and trackable.

Bringing us to transferability. VCs represent the credentials of the holder. So VCs aren’t transferable and can’t be traded; the holder always owns them. NFTs, however, can change ownership.

Last but not least is the element of scarcity. The more scarce the NFT, the greater its value. But for VCs, this is not true as they represent the identity of an entity. Their value is independent of supply and speculation.

I’ll do you one better and explain with a real-world analogy.

An NFT is your ticket to a big event. It essentially grants you access to attend the event. However, you can sell this access (read NFT) to someone else, making NFTs tradeable/transferable. Now, the new owner of the NFT can attend the event.

However, with a VC, the representation is your identity which cannot be sold. Therefore, it represents you exclusively and is issued directly by the appropriate party.

### Final thoughts

In today’s data-driven environment, digital identity is essential and must be protected against breaches and leaks. The need of the hour is to gain control over our identities from centralized entities that hold all our information. A decentralized Identity rooted in blockchain can make this a reality.

And while the space is still in its infancy, a lot of progress is being made with innovations like Soulbound tokens, Jack Dorsey’s Web5 (a decentralized data and identity platform leveraging Bitcoin), blockchain biometrics, etc.

![](https://cdn-images-1.medium.com/max/1600/1*_znwxScjtWL2zlj7sBSSKw.png)

---

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Decentralized Identity - Explained

Welcome to this video guide on navigating the Equilibrium dApp with Talisman. In this tutorial, we will show you how to create a new Talisman wallet in just 3 easy steps and then guide you through using the Equilibrium dApp.

In part one of the video, we walk you through the process of creating a new Talisman wallet, making it easy for anyone to get started. In part two, we show you how to get started and use the Equilibrium dApp.

Whether you are new to cryptocurrency or an experienced user, this video is an essential resource for anyone interested in using the Equilibrium dApp with Talisman.

So, sit back, relax, and let us guide you through the world of Equilibrium dApp and Talisman.

Useful links

[http://talisman.xyz/?utm\_campaign=eq\_blast ](http://talisman.xyz/?utm%5Fcampaign=eq%5Fblast)  
[https://equilibrium.io/en​​ https://twitter.com/EquilibriumDeFi https://medium.com/equilibrium-eosdt/eq-staking-guide-boost-your-apr-up-to-3-4x-846f2f961be7 ](https://equilibrium.io/en%E2%80%8B%E2%80%8B%EF%BF%BChttps://twitter.com/EquilibriumDeFi%EF%BF%BChttps://medium.com/equilibrium-eosdt/eq-staking-guide-boost-your-apr-up-to-3-4x-846f2f961be7%EF%BF%BChttps://medium.com/equilibrium-eosdt/eq-community-can-get-x1-5-higher-apr-during-the-blast-d92f6d26a0dc)  
[https://medium.com/equilibrium-eosdt/eq-community-can-get-x1-5-higher-apr-during-the-blast-d92f6d26a0dc](https://equilibrium.io/en%E2%80%8B%E2%80%8B%EF%BF%BChttps://twitter.com/EquilibriumDeFi%EF%BF%BChttps://medium.com/equilibrium-eosdt/eq-staking-guide-boost-your-apr-up-to-3-4x-846f2f961be7%EF%BF%BChttps://medium.com/equilibrium-eosdt/eq-community-can-get-x1-5-higher-apr-during-the-blast-d92f6d26a0dc)

---

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In pursuit of simplifying the different blocks of the chain metaverse

**Socials**

[Twitter](https://twitter.com/EverythingB0x), [Medium](https://medium.com/@everythingblockchain), [Youtube](https://www.youtube.com/channel/UCkcc6EceEAu1sMoi2dKczCQ), [Reddit](https://www.reddit.com/user/cyekmyster), [Substack](https://everythingblockchain.substack.com/account?utm%5Fsource=menu-dropdown)

**Referrals**

[Braintrust](https://app.usebraintrust.com/r/everything1/), [Presearch](https://www.presearch.org/signup?rid=2491437), [Binance](https://accounts.binance.com/en/register?ref=12626399), [Kucoin](https://www.kucoin.com/ucenter/signup?rcode=rJCLFS2)

The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Talisman Wallet Tutorial & Intro to Equilibrium

Blockchain technology, with its inherent characteristics of immutability, transparency, and shared ledger, is poised to play a transformative role in shaping the future of our society. Its potential as a disruptive alternative to legacy systems has gained considerable traction across various industries. Additionally, its applicability transcends the realm of cryptocurrency, presenting opportunities for implementation in diverse sectors such as product traceability, supply chain management, gaming, governance, healthcare, and real estate.

Blockchains and smart contracts are self-contained closed systems that can't access data external to their network. However, many contractual agreements require off-chain data to facilitate their execution.

So, how do these self-contained systems access off-chain data? The answer is Oracles.

Oracles can retrieve data from various sources, including APIs, websites, and sensors, and then provide this data to the smart contract to trigger the appropriate actions. This allows for more complex and dynamic smart contracts that can interact with real-world events and information.

Without oracles, smart contracts would have minimal use, and DeFi would not be where it is today.

### Oracles

Oracles are third-party services in the Web3 space that facilitate access to off-chain data for blockchains and smart contracts, bridging the gap between information inside and outside the network. Popular blockchain oracle projects include Augur, Chainlink, API3, among others.

DeFi relies heavily on oracles to provide broader access to financial applications. Many DeFi offerings, including borrowing and lending markets, prediction markets, derivatives, and insurance products, require oracles for smart contracts to respond to real-world events. Oracles facilitate smart contracts' interaction with existing data streams, legacy systems, advanced computation, and other components to carry out predefined actions. Integrating hybrid smart contracts, combining on-chain code with secure off-chain data, has significantly improved the functionality of advanced blockchain applications (dApps). 

Furthermore, these contracts offer various applications across multiple industries and sectors, including insurance, agriculture, pharma, environmental sustainability, and supply chain management. Oracles are essential to almost all smart contracts that rely on real-world events.

It is important to note that blockchain oracles do not act as data sources. Instead, they authenticate, verify, and query external data, then relay the information to the enclosed network.

### Oracle Use Case

Oracles have various use cases, including DeFi, supply chain management, digital identity, and insurance. 

In DeFi, oracles enable algorithmic stablecoins, financial derivatives, and prediction markets to function by providing external data feeds. Supply chains can be tracked and managed using blockchain technology. Oracles can provide real-time data on shipments, inventory, and quality control to ensure the integrity of the supply chain. Oracles can also authenticate an individual's identity and collate and update personal data in digital identity solutions. Additionally, they can be used to verify the occurrence of insurable events, such as flight delays or crop failures, and automatically trigger the payment of insurance claims.

These are just a few examples of how blockchain oracles are being used to provide external data and enable various functions on the blockchain.

Let's now move on to the various types of blockchain oracles.

## Oracle Types

Different types of oracles exist with variations in their functions, validation process, and data delivery mechanisms.

#### Inbound and Outbound Oracles

The difference stems from the direction of an oracle's data flow.

Inbound oracles supply real-world information to smart contracts, while outbound oracles send information from smart contracts to external systems. Inbound oracles are commonly used to provide data such as weather conditions, proof of payment, and live price feeds. On the other hand, outbound oracles are used mostly by decentralized banking networks and IoT systems to send commands to off-chain systems for specific actions.

#### Software and Hardware Oracles

The difference originates from an oracle's data source.

For smart contract consumption, software oracles retrieve real-time information from digital sources, such as websites, online databases, and servers. Hardware oracles, in contrast, convert information from the physical world to digital values that smart contracts can process. They obtain information from electronic sensors, RFID sensors, barcode scanners, thermometers, etc. As a result, hardware oracles are essential for supply chain management.

#### Compute-enabled Oracles

Compute-enabled oracles provide off-chain computation solutions that are more practical than on-chain computation due to technical or financial limitations. While several Layer 2 chains utilize compute-enabled oracles, these services can also offer advanced analysis and commands for Layer 1 blockchains.

#### Cross-chain Oracles 

Cross-chain oracles enable interoperability between blockchains by allowing the exchange of information between different chains. These oracles allow data on one blockchain to prompt actions on another chain.

#### Human Oracles

Individuals with specialized knowledge can also serve as oracles, gathering and verifying information from various sources to be converted into smart contracts. These individuals provide data feeds to a blockchain oracle, using advanced verification systems to authenticate their identity and prevent fraud.

#### Centralized Oracles

A centralized oracle is operated by a single entity and is the only information provider for a smart contract. 

These introduce a single point of failure, leaving them vulnerable to errors, manipulation, or hacking.

If a malicious actor corrupts the oracle or supplies incorrect data, the contract's security and fairness can be compromised. Moreover, relying on a single entity for accurate information can jeopardize the contract's effectiveness, compromising decentralization. Finally, while centralized oracles can be efficient, they require extra trust in the provider, contradicting the trustless nature of decentralized blockchains.

At this point, it is imperative to mention that decentralized oracles were introduced to address the challenges posed by the oracle problem. So, let's go through the Oracle Problem.

### Oracle Problem

Oracles play a crucial role in facilitating the integration of external data into blockchain-based smart contracts. 

However, their centralized nature poses a significant threat to the security and trustworthiness of smart contracts, as a compromised or manipulated oracle can jeopardize the entire blockchain network's integrity. This problem is compounded by the fact that relying on external data sources contradicts the decentralized and trustless principles underpinning blockchain technology.

Thus, the oracle problem presents a formidable challenge of obtaining reliable and secure data from external sources while ensuring blockchain networks' decentralized and secure nature. 

To address this challenge, decentralized oracles were introduced. These oracles employ consensus mechanisms, token incentives, and multiple nodes to mitigate the risks of centralized oracles and provide reliable and accurate data to smart contracts.

#### Decentralized Oracles

Decentralized oracles solve the problem of a single source of failure. They enable increased security, reliability, and end-to-end decentralization by distributing trust among network participants.

This approach reduces counterparty risk and increases trustlessness, making it ideal for smart contracts. In addition, multiple oracles assess the data's validity and accuracy, ensuring end-to-end decentralization.

Decentralized oracles distribute trust between multiple participants to minimize counterparty risk and extend the guarantees of smart contracts. These deploy various security measures to ensure availability, correctness, and accountability. However, they are not a perfect solution, and issues like collusion, signaling, mirroring, and bribing can still occur. Therefore, it is essential to note that decentralized oracles are the accepted solution for the oracle problem but may not solve all the issues.

*Till we find something better.*

---

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In pursuit of simplifying the different blocks of the chain metaverse

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Blockchain Oracles - Explained (Unlocking the potential of blockchains)

🔥 Hottest L2 launch, Blast!

In just 72 hours, @Blast\_L2 has skyrocketed to $430M+ TVL!

Backed by Paradigm, StandardCrypto, and Blur's Pacman, this airdrop is the talk of the town!

Don't miss the confirmed airdrop and the race for points!

Here's how to jump in: 👇

![f99fd046-e3b6-44b4-b920-dfc6eacd4fc2.png](https://d3e0luujhwn38u.cloudfront.net/resized/RP5xQ20yeWbinaIqUqsQzIrQibxMKsw3xugANoEGJD0/s:1200/plain/s3://typefully-user-uploads/img/original/48737/f99fd046-e3b6-44b4-b920-dfc6eacd4fc2.png)

---

2/

\- Brought to you by @PacmanBlur of @blur\_io fame

\- $20M in funding from heavyweights like Paradigm, Standard Crypto, eGirl Capital, Primitive Ventures, Andrew Kang

\- Call it an airdrop frenzy but the protocol has witnessed staggering growth with a $430M+ TVL in just 72 hrs

![6190e4f0-6cec-4dc8-b8e1-0d92e4e0dd17.png](https://d3e0luujhwn38u.cloudfront.net/resized/gAVuMo6uSq4gdR7kX2lBp3rIS4Iz-fD9hesiHOtLP3U/s:1200/plain/s3://typefully-user-uploads/img/original/48737/6190e4f0-6cec-4dc8-b8e1-0d92e4e0dd17.png)

---

3/

Pioneer L2 platform featuring native yield

50k+ earning 4% for ETH, 5% for stables

Automatic compounding of your balance (ETH/stablecoins) while reaping additional Blast rewards on top

---

4/

EARLY ACCESS IS LIVE 🚀

Everyone who joins will be rewarded with Blast Points

But it's invite only

Here's your roadmap 🧭

Get an invite code - No code, No access

Head to <http://blast.io> & enter the code to sign up

Link your Twitter, follow Blast & Join Discord

![Preview](https://blast.io/twitter-image.jpg)

---

5/

Connect your wallet & deposit funds to kickstart your journey!

Invite codes ⬇️

[blast.io/MD6T6](http://blast.io/MD6T6)

[blast.io/VPO2X](http://blast.io/VPO2X)

[blast.io/IQ884](http://blast.io/IQ884)

[blast.io/Y4707](http://blast.io/Y4707)

[blast.io/74W9R](http://blast.io/74W9R)

[blast.io/CJ6LM](http://blast.io/CJ6LM)

[blast.io/9I8WI](http://blast.io/9I8WI)

[blast.io/YDPJK](http://blast.io/YDPJK)

![eaaa1eca-c790-4e22-8c74-c0eeafc6b1c9.jpeg](https://d3e0luujhwn38u.cloudfront.net/resized/UOuxOP4MxHS5EB9RF1j7N2POIXSz4aDzMukleQeU3AY/s:1200/plain/s3://typefully-user-uploads/img/original/48737/eaaa1eca-c790-4e22-8c74-c0eeafc6b1c9.jpeg)

---

6/

Remember -

The chain isn't live yet

So what happens?

Your funds are directed to an upgradeable contract owned by a 3/5 multi-sig

<https://etherscan.io/address/0x5F6AE08B8AeB7078cf2F96AFb089D7c9f51DA47d>

![4fbd73f7-e5ac-4a3d-8559-ea572ab88a19.png](https://d3e0luujhwn38u.cloudfront.net/resized/L0-sMlO2ZCxOizjwAn-b0_4owM3RRZfP8LczOBS8zeI/s:1200/plain/s3://typefully-user-uploads/img/original/48737/4fbd73f7-e5ac-4a3d-8559-ea572ab88a19.png)

---

7/

Supercharge your Blast points 🪂 = 🪂🪂🪂

How?

Invite others using your unique codes = Watch your points soar

The more you invite and the greater the volume, the more points you earn!

Join the race for rewards now

---

8/

But don't forget

Withdrawals activate in Feb'24

Redemptions go live in May'24

Here's the 🪂 Timeline👇

![1cf3e0a6-6a6b-433c-9bb2-bccc66328643.png](https://d3e0luujhwn38u.cloudfront.net/resized/9UYHkkmWKHpo_w609J2H6311nc3_pMPTnIaApX91eMI/s:1200/plain/s3://typefully-user-uploads/img/original/48737/1cf3e0a6-6a6b-433c-9bb2-bccc66328643.png)

---

9/

The team recently published a thread explaining the nuances/technicalities of the multi-sig's security

+

An announcement for all Blast community members to claim a 7-day 2x Points Multiplier Bonus

<https://x.com/Blast%5FL2/status/1728096087351914736?s=20>

---

---

If you find this helpful, please support us by subscribing and following.

**Everythingblockchain** 🧐 - Freethinkers, Writers ✍, Blockchain explorers 🔭  
In pursuit of simplifying the different blocks of the chain metaverse

**Socials**

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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Blast — New L2 with Confirmed Airdrop (Thread)

Ready for a chance to snag another substantial airdrop?

Dive into the buzz surrounding the upcoming @LineaBuild airdrop!!

Don't miss out on this potential opportunity! 💰✨

Check out this 🧵 for all you need to know and do!

[![](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F879c76e6-e597-4e12-8f98-a685151b3347_1200x520.png)](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F879c76e6-e597-4e12-8f98-a685151b3347%5F1200x520.png)

---

/1

$LINEA

Launched by Consensys (the minds behind MetaMask and Infura)

Valued at $7B

Raised $725M in funding from J.P. Morgan, Microsoft, and others

One of the fastest-growing zkEVM L2 ecosystem (over 1.65M users and 17M transactions)

---

/2

How to? ➡️ Potential 🪂🪂

🏁

**Step 1 - Bridging**

a. Official Bridge

Head to 

https://bridge.linea.build/

\- Connect wallet

\- Enter the amount you want to bridge (ETH)

\- Select 'Automatic Claiming'

\- Click 'Start Bridging'

---

/3

b. Try out other bridges

• @rhinofi

• @Orbiter\_Finance

• @layerswap

• @OmniBTC

• @Owlto\_Finance

• @StargateFinance

Bonus- Some of these bridges might have upcoming airdrops too

[![](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff0878e30-7e67-4d4c-b6e2-359a5c2bcf3b_1200x518.png)](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff0878e30-7e67-4d4c-b6e2-359a5c2bcf3b%5F1200x518.png)

---

/4

**Step 2 - Token Swaps**

Use the top DEXs on the Chain

@syncswap

@velocorexyz

@Echo\_DEX

@KyberNetwork

@PancakeSwap

@izumi\_Finance

@\_WOOFi

@horizondex\_io

Visit the official link and perform a token swap

The more you swap (no. & vol) the better

[![Image](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7f2b91ef-a28c-4de6-b534-e9bf350fbd7a_1199x521.jpeg "Image")](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7f2b91ef-a28c-4de6-b534-e9bf350fbd7a%5F1199x521.jpeg)

---

/5

**Step 3 - Mint/Buy/Sell NFT**

@ZonicApp

@Element\_Market

@bilinear\_io

@mintpadco

@omnisea

**To Mint**

\- Go to the official site

\- Create your own collection

**To Buy/Sell**

\- Explore NFTs and make a purchase

\- Consider listing the acquired NFT for sale

[![](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F44408db1-bfc2-448d-9dd2-10b050c7b08a_1200x540.png)](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F44408db1-bfc2-448d-9dd2-10b050c7b08a%5F1200x540.png)

---

/6

**Step 4 - Lend/Borrow**

Lending protocols on the chain

@GranaryFinance

@QiDaoProtocol

@LayerBankFi

@useteller

[![](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa7fce598-0397-452e-945b-caa681df667e_1200x528.png)](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa7fce598-0397-452e-945b-caa681df667e%5F1200x528.png)

---

/7

**FYI**

Linea is running a campaign in collaboration with @IntractCampaign

Get in on the action, interact with the network, and build up some XP

Wave 1: still active

Wave 2: ended

Wave 3: ended

Wave 4: Lending and Borrowing active

---

/8

Interested in knowing more?

Check out the details of the entire DeFi Voyage

⬇️

<https://linea.mirror.xyz/Y7Co9H1-oV0O51nKYW0eFPZSs2xn--YJ2wRJzEecN6o>

[![Preview](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1ba95b2-b21b-4db4-aa55-b96fc7d7dd28_2880x1440.png "Preview")](https://substackcdn.com/image/fetch/f%5Fauto,q%5Fauto:good,fl%5Fprogressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1ba95b2-b21b-4db4-aa55-b96fc7d7dd28%5F2880x1440.png)

---

---

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**Everythingblockchain** 🧐 - Freethinkers, Writers ✍, Blockchain explorers 🔭  
In pursuit of simplifying the different blocks of the chain metaverse

**Socials**

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The information provided through this work is intended solely for educational purposes and must not be treated as investment advice. Any lapses in presenting any of the information correctly are ours alone. We disclaim any liability associated with the use of this content.

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LINEA Airdrop (Thread)

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Everything Blockchain

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Everything Blockchain - Video Series

LPs drowning in choices, protocols starving for funds?

Navigating capital allocation in blockchain has become increasingly complex with the rise of numerous networks & protocols

We need a solution that transforms the flow and growth of Liquidity

Is @MitosisOrg the answer?



Existential...

Ready for a chance to snag another substantial airdrop?

Dive into the buzz surrounding the upcoming @LineaBuild airdrop!!

Don't miss out on this potential opportunity! 💰✨

Check out this 🧵 for all you need to know and do!





/1

$LINEA

Launched by Consensys (the minds behind MetaMask and...

@redstone_defi brings to you

✨ Guaranteed Rewards

✨ RSG Points

✨ Myriad Activities

Welcome to the #RedStoneExpedition Season 1

Curious about the Expedition? 🧐🔍 Dive in 🧵

85d7cbda-0535-472b-afd1-6782d3524283.png



Quick Intro

RedStone

\- A reliable Oracle providing regularly updated &...

🔥 Hottest L2 launch, Blast!

In just 72 hours, @Blast_L2 has skyrocketed to $430M+ TVL!

Backed by Paradigm, StandardCrypto, and Blur's Pacman, this airdrop is the talk of the town!

Don't miss the confirmed airdrop and the race for points!

Here's how to jump in: 👇...

ATTN: New money-making opportunities for NFT traders & investors

Say goodbye to just buying & holding NFTs

Imagine profiting by shorting NFTs too!

With @nftperp on #BLAST, it’s now possible



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Freethinkers
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This article is a Halloween Special!

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Primer: The first public good of the Dotsama (Kusama/Polkadot) ecosystem, Kodadot is a Kusama native carbon-neutral NFT platform that enables users to mint, transfer, and burn NFTs.



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Driven by the will to give users the power to influence decisions, exercise control over usage, and incentivize participation, the $POOP token is a fully transferrable utility-rich governance token that supports cross-chain communication in Polkadot.

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2022 saw billions wiped off the market, bringing down heavyweights and dominoes — the collapse of FTX and Terra, the bankruptcy of 3AC, Celsius, and Voyager. The infection is far and deep in the wake of FTX, which has been no short of what corona was for the physical world.

Increased attacks...

Primer: Kodadot is a Kusama native carbon-neutral NFT platform that enables users to mint, transfer, and burn NFTs. It has recently expanded to Basilisk, a liquidity strapping protocol, and a Kusama parachain. It has also redesigned some parts of its platform. With this, there is a bounty of $$22...

Driven by the will to give users the power to influence decisions, exercise control over usage, and incentivize participation, the $POOP token is a fully transferrable utility-rich governance token that supports cross-chain communication in Polkadot.

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