In this tutorial, we’ll explore how you can complete a series of tasks in Orochi Network for Bybit Web3 Airdrop Arcade.

In this tutorial, we’ll explore how you can complete Orochi Network tasks for Bybit Web3 Airdrop Arcade. 

Task 2: Quote Orochi Network's Post and Tag 3 Friends

: Navigate to Orochi Network’s pinned post on X.

: Quote the tweet with your thoughts, and tag 3 friends.

 button at the top right corner of the page.

: The Orochi ID window will pop up. You may choose to sign up for an Orochi ID using your Google account, GitHub or email address.

: Congratulations! You’ve successfully created your Orochi ID. 

Task 4: Join the Contribute to Earn Program

: Connect your Wallet, Google account and Discord to be eligible.

: Once you’ve successfully connected all accounts, you’ll have completed this task.

 all of the four tasks above for your chance to 

Beginner

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How to Complete Orochi Network Tasks for Bybit Web3 Airdrop Arcade

MegaETH is an EVM-compatible blockchain with real-time Web 2.0–level performance. Learn more about MegaETH.

 has long been a formidable challenge for the blockchain industry. Most established chains maintain decentralization and security, but struggle with limited scalability while high-performance 

 (L1) blockchains often compromise decentralization to achieve high throughput. 

What if we could push throughput to unprecedented levels without compromising security or decentralization? 

Enter MegaETH — a project backed by industry leaders such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and Dragonfly Capital. With the first real-time 

 (EVM)–compatible chain —i.e., one that can process transactions as soon as they arrive, and then publish the resulting state changes — MegaETH aims to redefine blockchain performance. In this article, we delve into the scaling limitations of current blockchains and examine how MegaETH aims to solve them. Let's dive in!

The blockchain trilemma has posed a significant challenge for 

 developers for years. As Ethereum co-founder Vitalik Buterin explains, distributed ledger networks can only achieve two out of three critical qualities (security, decentralization and scalability) by using simple techniques. 

As a result, most high-performance chains, such as Solana, Avalanche and BNB Chain, often compromise on decentralization or security to achieve scalability.

To address the scalability challenges of L1 networks, developers have introduced 

 (L2) solutions, which operate on top of blockchains such as Ethereum. These L2 chains achieve 

 (TPS) while leveraging the security and decentralization of their underlying L1s. However, according to MegaETH, both high-performance L1 and L2 networks fall short of meeting the demands of Web 2.0–scale applications, particularly in terms of 

As shown in the table above, the blockchain with the highest scalability, opBNB, achieves a gas rate of 100 MGas/s, equivalent to 650 Uniswap swaps or 3,700 

 transfers per second. In comparison, modern databases can 

 over 1 million TPC-C TPS. While Arbitrum One, the fastest chain listed, offers a block time of 0.25 seconds, this remains insufficient for applications requiring rapid feedback or high update rates. 

These limitations in both scalability and speed make current high-performance L1s and L2s ill-suited for Web 2.0 applications with significant computational demands.

 is an EVM-compatible blockchain with real-time Web 2.0–level performance. With the goal of bridging the gap between distributed ledger networks and traditional cloud computing servers, the project aims to push the performance of Ethereum-based L2s to hardware limits. As the first real-time blockchain, MegaETH can stream transactions at 100,000 TPS with transaction fees under $0.01, and provide millisecond-level responsiveness without sacrificing security or decentralization.

MegaLabs, the organization behind MegaETH, was founded in early 2023 by Shuyao Kong and Yilong Li. Holding an MBA from Harvard Business School, Kong has a background in business development within the blockchain industry. Prior to co-founding MegaLabs, she was the global head of business development at ConsenSys, where she continues to serve as an advisor.

As the Chief Executive Officer (CEO) of MegaLabs, Li has a PhD in computer science from Stanford University. An experienced software developer, he previously worked at Runtime Verification Inc., a firm specializing in software analysis tools and the application of formal methods to improve computing systems.

Together, Kong and Li founded MegaLabs in early 2023 to leverage their business development and computer science expertise to build MegaETH as the first real-time blockchain.

 $20 million of funding in a single seed round at a 9-figure valuation. The round was led by Dragonfly Capital, with other notable venture capitalists including Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holdings, Tangent Ventures and Credibly Neutral. In addition to VCs, MegaETH is backed by high-profile angel investors, such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and EigenLayer creator Sreeram Kannan.

 on crypto trader Cobie’s decentralized fundraising platform, Echo. The round was fully funded within minutes and oversubscribed, showing significant investor demand.

MegaETH achieves over 100,000 TPS with less than 1 ms latency and block time, as well as transaction fees under $0.01, via two core features: a heterogenous blockchain architecture and a hyper-optimized EVM execution environment.

MegaETH's heterogeneous blockchain architecture enables network nodes with different hardware configurations to specialize in specific tasks to boost performance.

There are three types of nodes: sequencers, full nodes and provers. With cutting-edge hardware, a small set of sequencers conduct performance-critical tasks such as transaction execution. Simultaneously, a massively decentralized network of full nodes performs security-critical duties such as block validation. Provers have the lowest hardware requirements, and focus on providing L2 proofs to full nodes.

Hyper-Optimized EVM Execution Environment

MegaETH provides a hyper-optimized EVM execution environment to push latency, throughput and resource efficiency to hardware limits. Consequently, the real-time blockchain can process large volumes of transactions as soon as they arrive, and publish the resulting state changes in a few milliseconds.

To enable real-time EVM execution, MegaETH co-designed a low-latency, streaming-based block-building algorithm with a concurrency control protocol supporting transaction prioritization.

MegaETH's real-time blockchain scales without sacrificing decentralization and security through the following key components and features.

 is an extension of the MegaETH core team. It consists of a group of 10x builders hand-picked by MegaETH developers. According to the project, MegaMafia participants have "an internal compass guiding them toward crypto's world domination."

MegaETH defines three common qualities for MegaMafia members:

MegaETH is setting a new standard for blockchain scalability, addressing long-standing limitations without compromising decentralization or security. By combining innovative architectural decisions with technologies like real-time EVM execution, in-memory computing and smart contract JIT compilation, this real-time L1 chain delivers unmatched performance tailored for Web 2.0–scale applications.

Supported by high-profile investors, such as Vitalik Buterin and Joseph Lubin, MegaETH is poised to bridge the gap between blockchain and traditional computing, unlocking new possibilities for decentralized applications. The project is on track to launch its testnet in early 2025, with the mainnet rollout soon thereafter.

Advanced

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MegaETH: A Real-Time Blockchain for Web 2.0–Scale DApps

Grayscale has launched the Horizen Trust, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it.

Daily Top Performer — Convex Finance (CVX)

The S&P 500 rose 0.73%, driven by big tech and communication services, as investors anticipate a "Santa Claus Rally" to close the year. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 1.61%, with Bitcoin dropping by 2.58% and Ether rising by 4.32%, respectively in the past 24 hours.

Today's top performer is CVX, which surged 28.1% following Frax's consideration of BlackRock's BUIDL token as backing for the rebranded frxUSD stablecoin.

Convex Finance (CVX), launched in May 2021, is a DeFi protocol that boosts yields for Curve protocol users on Ethereum. It allows for staking to earn CRV and CVX tokens and provides voting rights on token allocations. Securitize has 

 adding BlackRock's BUIDL token as backing for Frax's rebranded Frax USD (frxUSD) stablecoin, which will feature a new mint-redeem system. Early feedback from Frax DAO members is positive. Competing proposals from Superstate also suggest backing frxUSD with their tokenized funds. The final backing structure is still undecided.

Check Out the Latest Prices, Charts, and Data of 

, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it. The fund's shares track the market price of ZEN, net of fees. While the shares have been traded at both a premium and discount, the fund aims to provide a simpler way for investors to gain exposure to ZEN. Grayscale is also expanding its offerings, with plans for a Solana spot ETF.

Yesterday, BTC Spot ETFs recorded total outflows of $258.2 million, including $38.4 million from GBTC and $219.8 million from non-GBTC funds.

, distributing $SONIC tokens to those who participate. Over 2 million users have joined through an easy onboarding process, requiring no wallet setup or gas fees. To qualify for the airdrop, users must log in via TikTok, access SonicX, and wait for the $SONIC claim banner. SonicX, part of the Sonic SVM app layer, uses TikTok ads and creator partnerships to promote its gaming and blockchain education hub. The project aims to expand its TikTok Chain with new games and future token rewards.

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Grayscale Introduces Horizen Trust for ZEN Investment Access

Gems VIP (GEMS) is crypto launchpad uniting leaders to curate top projects, boost growth, and offer rewards via staking, revenue sharing, and exclusive access.

The cryptocurrency industry features over a hundred active launchpad platforms where new projects vie for the attention and funds of early investors. However, many of these launchpads have limited safeguards for investors and offer underwhelming support and growth opportunities for crypto projects launched through them. Investors often fall victim to scam launchpad projects and tokens, while crypto startups fail to raise enough funds from quality backers.

Gems VIP (GEMS) is a crypto launchpad that’s adopted a unique community-driven approach to dealing with both of these problems. It carefully curates projects listed on the platform to ensure that only high-potential, promising tokens are offered to investors. Additionally, Gems VIP has assembled a formidable community of crypto leaders who provide their input on the listed projects and gain access to early sale rounds for their tokens. Besides early access to high-potential tokens, the leaders enjoy additional benefits — 

 in the form of revenue sharing from the launchpad's projects, discounts on the platform's exchange solution, Gems Trade, and staking opportunities for GEMS, the platform's native cryptocurrency.

 (GEMS) is a launchpad supported by a community of leaders in the crypto space. 

The platform features a rigorous curation procedure for listed tokens and provides the community of leaders with access to early sale rounds for these tokens. Gems VIP's community leaders not only 

 via the platform, but also may provide support and expertise to drive their early growth and development.

Gems VIP was launched in late 2023. By December 2024, it had assembled a community of around 3,500 leaders, a number that may grow as the project continues to expand. Gems VIP's native cryptocurrency, GEMS, was launched in June 2024. Leaders can lock a certain minimum amount of GEMS to gain exclusive access to private sale rounds and receive significant discounts during sales.

Platform users, including leaders, who lock at least 5,555 GEMS ($694) become Golden Users, which qualifies them for a 20% discount on the presale round of private sales and a 7% discount on subsequent rounds. To become a Premium Leader and enjoy the full suite of benefits and discounts, leaders need to lock at least 18,000 GEMS (currently around $2,250).

However, you can't simply buy your way into the leader community by purchasing GEMS tokens. Each potential leader is carefully assessed by the project team for suitability. Only individuals deemed as bringing value to the project's potential and its vibrant community are accepted as leaders. Thus, a manipulative 

 who buys up a lot of GEMS tokens in the hope of monopolizing access to private sale rounds will be left disappointed.

The leaders often provide guidance and support to the launchpad's projects, as well as input during the project selection phase. This ensures that the Gems VIP team's expertise is complemented by the leaders' skills when evaluating prospective projects.

Projects selected and launched via Gems VIP enjoy the benefit of being supported by a vast network of leaders and the Gems VIP core team itself. Early investments from community leaders provide much-needed capital to spur the growth of these projects.

There are also certain benefits for other investors (not only the leaders) when buying the projects' tokens in later public rounds or via the secondary market. The curated selection procedure and early backing from astute leaders reduce the risk of investing in scam tokens on the secondary market.

Gems VIP supports promising, innovative crypto startups across a range of 

 (AI). Some of the projects successfully launched via Gems VIP include game development studio Leia Games and AI-powered 

As of late December 2024, the launchpad actively supports its newest key project — an AI-powered crypto trading platform, 

, which provides crypto traders with convenient Telegram access to investment calls and advice from a carefully curated list of key opinion leaders (KOLs).

Gems’ young platform is continuing to develop. Following the introduction of its launchpad service, the platform's next key goal is the launch of its own crypto exchange solution, 

. As of late 2024, Gems Trade is a work in progress. It will serve as a natural evolution of the overall Gems VIP platform by enabling a trade in tokens of the launchpad's projects.

, vault services with an off-chain Stake & Earn program, 

, fiat currency integration and over-the-counter (OTC) trading. Part of the revenue from transaction fees will be channeled to community leaders. In addition to the income from trading activity, the leaders will also earn referral rewards — every time a user referred by a leader transacts on Gems Trade, 50% of transaction fees from their trades will be directed to the referrer for life.

The platform's native cryptocurrency, GEMS, is primarily used to provide exclusive access to early sale rounds for tokens and discounts during the sales. Additionally, GEMS ownership may entitle holders to a share of the revenues generated by the Launchpad's projects.

 built into its tokenomics. All projects launched via Gems VIP are required to allocate 2% of proceeds from the sale of their tokens to purchase GEMS. This applies to each sale round conducted by the project. Fifty percent of the purchased GEMS tokens are locked for one year and then returned to the project, while the remaining 50% are burned to reduce the token's supply.

The GEMS token was launched in June 2024 with a total supply of 843.3 million. As of Dec 23, 2024, the token's total supply is slightly lower — 838.79 million — due to the burn mechanism described above. The token's current market capitalization is $55.45 million, making it the eighth-highest-capped cryptocurrency in the launchpad tokens category.

The initial total supply of 843.3 million GEMS was allocated as shown in the chart below.

 function. Users and leaders can earn competitive APY rates by staking their tokens on the platform. As of Dec 22, 2024, the Gems VIP staking program has an APY rate of around 29%.

There's a mandatory lockup period of 90 days from the date of deposit before you can receive or restake your staking rewards. You can unstake your principal tokens at any time, but will need to wait for seven days before your staked tokens are released back to you.

 as a Perpetual contract based on USDT. You can also join the 

 for the chance to win a share of the 20,000 USDT prize pool. The campaign is split into two events, running through Dec 25, 2024, 10AM UTC. For the first event, with a total prize pool of 5,000 USDT, users who accumulate a trading volume of just $100 via the GEMSUSDT Perpetual contract will have a chance to win a share of the prize pool. The second event is a GEMS PnL Trading Championship, in which the top 50 traders who accumulate a trading volume of at least $50,000 on the contract will qualify for a share of the 15,000 USDT prize pool.

As of Dec 24, 2024, GEMS is trading at $0.125, which is 61% lower than its ATH of $0.32 on Oct 18, 2024, and 350% higher than its ATL of $0.02765 on Aug 5, 2024. Since its launch six months ago, the token has experienced its ups and downs. However, GEMS is up by approximately 121% compared to its initial market price in mid-June 2024, outperforming Bitcoin (BTC) and the overall crypto market during this half-year period.

The Gems VIP team has developed an intriguing concept for running a launchpad. Mobilizing leaders of the crypto world to support new innovative projects is definitely a significant boost for aspiring web3 startups, which often struggle with initial momentum due to lack of both funding and external expertise. The community of leaders plays a vital role in helping early promising projects to overcome initial market resistance. 

For the leaders, the platform is also a viable source for sharing their industry insights, providing tangible help to new web3 initiatives and simultaneously accessing income opportunities through the projects' revenue-sharing commitments.The Gems Launchpad also offers an important benefit for the wider investor community: the platform's rigorous curation process and the support of its leader community ensure a significant reduction in the risk of investing in unsustainable or 

Intermediate

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Gems VIP (GEMS): Where Leaders Drive Projects and Success

Trading

Candlestick

The descending triangle pattern is a bearish chart formation used in technical analysis to identify potential downward price movements.

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 chart formations that provide valuable insights into future price movements. There are three basic triangle consolidation patterns: the 

 and descending triangle. Traders pay close attention to descending triangles, as they often precede significant price breakdowns, presenting opportunities for profitable short trades.

A descending triangle is a bearish trend continuation pattern primarily sought in downtrends. This pattern is formed during consolidation, when the price of a cryptocurrency creates a series of lower highs in an upper descending trend line, while a horizontal support level acts as a floor, creating a triangular shape. 

Lower highs represent sellers becoming more aggressive over time, as price is being met with more aggressive selling each time it rises, while support remains relatively constant during the pattern’s formation. At least four points are needed to draw a descending triangle: two for the top trend line and two for the bottom sideways trend line.

Traders look for a break below the support level as a signal to enter a short position, since this indicates that bears have taken control of the market and are likely to push prices lower.

Is a Descending Triangle Pattern Bullish or Bearish?

A descending triangle pattern is inherently bearish, as it signifies sellers becoming more aggressive than buyers during its formation, evidenced by the descending trend line. The lower boundary line of the triangle acts as a crucial support level, and a breakdown occurs when the price drops below this level. When the price eventually breaks out of the pattern, it’s propelled further downward. A decisive close below the lower boundary is necessary in order to validate the breakdown.

It’s worth noting that while the descending triangle pattern predominantly signifies a continuation of a bearish trend, there are instances when it indicates a bearish reversal within an uptrend, albeit less commonly observed. Nonetheless, this pattern's primary purpose remains identifying potential continuation patterns.

How to Spot a Descending Triangle Chart Pattern

First, spot a downtrend. Then, look at the consolidation pattern within the trend to see if it matches the shape of the descending triangle chart pattern. Drawing trend lines can help in confirming the pattern's shape and structure. Make sure to establish a horizontal support level that accurately represents the lower boundary of the triangle.

The BTCUSD chart below illustrates a descending triangle pattern emerging following a drop off the highs. It’s an excellent example of a clear, decisive breakdown. The price has dropped quickly upon breaching the support level. Then, it continues lower before pulling back to test resistance near the lows of the triangle. Traders looking to profit from falling prices often seek out descending triangle patterns, due to their characteristic sharp and distinct downward movement triggered by specific events, accompanied by an increase in downward momentum.

Let’s plan a trade based on a descending triangle chart pattern and break it down by its component parts. A 3-hour chart of 

 is used in this example. Note that while traders often combine multiple tools and strategies when looking for confirmation of a setup, this example only considers the triangle formation.

: Look for continuation of the developing downtrend

: Place above top trend line resistance at $47,300

: Derived by measuring the height of the triangle and projecting that distance down from the breakdown level [$45,650 − $2,798 (height) = $42,852 target]

Note that false breakouts can and do happen. In fact, some of the most rapid price movements come from false breakouts. Therefore, traders should incorporate strategies that account for false breakouts into their trading plans to mitigate risk and capitalize on market opportunities.

Advantages and Limitations of a Descending Triangle

Some advantages and limitations of using the descending triangle pattern are listed in the following table. A few things can be done to mitigate the impact of limitations.

The more technical analysis evidence supporting the descending triangle setup, the better chance it will work out as anticipated. Therefore, one way to lower the impact of limitations is to have additional supporting evidence for a bearish trade following a breakdown from a descending triangle.

Some ways to mitigate limitations include the following.

The characteristics of a developing downtrend that occurs before a descending triangle pattern often provide hints about its strength and speed. We can assess the trend before the consolidation phase's relative strength. The stronger the trend preceding consolidation, the more likely that trend will take off once the price breaks down below the triangle’s support level.

 can be used to help confirm resistance near the top of the descending triangle or support near the low of the pattern.

 level coincides with or is close to the support level of the triangle, it becomes easier to identify support levels because two separate analyses are pointing toward the same price level.

There are significant differences between a descending triangle and a 

. The descending triangle is bearish, and designated as a trend continuation pattern, while the falling wedge is bullish, and can serve as either a continuation or reversal pattern. 

The falling wedge pattern is characterized by two converging trend lines that slope downward. Therefore, it represents a period of consolidation wherein prices generally decline during its formation. An indication of a bullish breakout occurs when the price rises above the upper trend line, with confirmation on a daily close above that line.

The descending triangle and ascending triangle indicate two contrasting outlooks. The ascending triangle is bullish, and searched for in uptrends to catch the continuation of a nascent upward trend. On the other hand, the descending triangle is bearish, and is used to enter developing downtrends. 

An ascending triangle consists of a horizontal resistance level at the top of the pattern with an uptrend line rising on the lower boundary. The descending triangle, however, comprises a horizontal support level across the bottom of the pattern with a downtrend line across the top of the formation.

The descending triangle pattern is a popular technical analysis chart formation that offers valuable insights for cryptocurrency traders. By identifying a consolidation pattern with a consistent support level and a downward-sloping top trend line, traders can anticipate bearish price movements in order to take advantage of declining trends. 

When used together with other technical indicators and analysis, the descending triangle pattern can be a highly effective tool in a trader's toolkit.

Descending Triangle Pattern: What It Is & How to Use It for Crypto Trading

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Grab Up to 5,000 USDT in Rewards