PancakeSwap has partnered with BetFury to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025.

Daily Top Performer — Phala Network (PHA)

The S&P 500 rose 1.1%, marking its third straight gain and the start of the Santa Claus rally. Growth and megacap tech stocks led, driven by optimism in AI and long-term tech trends, despite elevated Treasury yields. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.18%, with Bitcoin and Ether rising by 4.52% and 1.90%, respectively in the past 24 hours.

Today's top performer is PHA, which surged 63.4% after the announcement of Phala Network's 2024 achievements and 2025 roadmap, featuring decentralized GPU AI advancements and strategic partnerships.

The Phala Network (PHA), founded in 2018, is a decentralized cloud computing platform that uses excess computing power from everyday devices. It operates with Gatekeeper and Miner nodes, offering secure and scalable cloud services. Phala also launched Khala (PHA) on the Kusama network in 2021. 

 include co-building a decentralized GPU network, enhancing AI model training, and partnerships with projects like SentientAGI and MorpheusAIs. The Phala Treasury allocated 37% to infrastructure, 20% to community, and 43% to marketing. Social media efforts generated millions of impressions and engagements, while the network participated in six events and established 15 partnerships. Phala 2.0, launching in 2025, will integrate GPU TEE technology and Ethereum Layer 2 scalability for AI and Web3 applications.

Check Out the Latest Prices, Charts, and Data of 

 to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025. Participants can earn rewards by trading BFG tokens on the PancakeSwap Web interface or Telegram Swap-Bot. The competition includes daily lucky draws with $10,000 USDT, a leaderboard with $30,000 in BFG tokens for top traders, and $10,000 USDT for traders using the Telegram Swap-Bot. To qualify, participants must meet specific trading volume requirements, with rewards distributed in USDT and BFG tokens.

Yesterday, Bitcoin Spot ETF flows remained unchanged for GBTC, while non-GBTC ETFs experienced outflows of $149.7 million, bringing total outflows to $149.7 million.

: Astherus lets you farm while qualifying for Lista DAO Season 2, while Superform involves depositing ETH on Base via Moonwell WETH Morpho vault. Mitosis allows Linea airdrop qualification by holding funds, and Symbiotic rewards large token deposits on Ethereum mainnet. Mind Network offers bigger airdrop allocations for farming vFHE by depositing eETH. Solayer requires depositing and delegating SOL or derivatives to rank higher, and Drift's second airdrop involves liquid staking SOL to earn and lend dSOL.

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PancakeSwap and BetFury Launch $50,000 Trading Competition with BFG Token Rewards

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 

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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.

, 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.

Grayscale Introduces Horizen Trust for ZEN Investment Access

Altcoins

Stablecoin

Dai is one of the most popular stablecoins out there. But how does it work? All will be revealed in this article.

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The crypto sphere has experienced drastic growth recently with

 leading the way. Multinational financial companies have started to invest large sums of money in Bitcoin — a move that could precede a wave of crypto adoption. 

For some individuals, and especially for day-traders, volatility is seen to be positive and perhaps the most attractive thing with which

 are characterized. But for others, it is just the opposite; volatility is seen as a weakness for cryptocurrencies — an argument frequently used by opponents of the industry to criticize cryptocurrencies, calling it an unstable asset. 

Enter stablecoins — a solution of sorts, often used by traders to minimize their exposure to extreme price movements typically found in cryptocurrencies. One of the most popular stablecoins at the moment is the Dai (DAI) token. In this guide, you will get to understand what Dai stablecoin is, how it works, who created it, where to find it, and more.

 is a form of cryptocurrency that minimizes volatility. Stablecoins may be pegged to the U.S. dollar or other assets such as gold, for example.

 are the two of the most popular cryptocurrencies in the space, but they can be highly volatile. This price behavior may hinder these assets from mainstream adoption or widespread use as a form of payment. For example, a business may be hesitant to pay someone’s salary in Bitcoin if its price keeps fluctuating.

Crypto volatility is an obstacle for loans that are based on

 and prediction markets. Volatility could also be an obstacle for other long-term 

 that need stability. And it is obvious that there are users who want to store and use their money in an asset that serves as a store of value.

Ideas for creating stable-priced cryptocurrencies have been around for a while. The main challenge, however, has been price stabilization. Therefore, creating stablecoins is considered the crowning achievement in the crypto sphere by many.

The purpose of stablecoins is to minimize volatility by maintaining stability. How do stablecoins achieve this? By being pegged with an external asset. These assets are centralized and their stability is maintained by central authorities.

So while the value of the fiat currency for example can move drastically, central authorities control supply and demand to keep the price stable. When it comes to cryptocurrencies, such a thing is impossible because cryptocurrencies are not controlled by anyone, and are therefore prone to price fluctuations.

There are many stablecoins out there, but Dai is unique. Dai is an Ethereum based stable coin (

) that aims to maintain a value equal to one U.S. dollar. This is done through an automatic system of smart contracts on the Ethereum blockchain. The Dai stablecoin price is indirectly pegged to the U.S. dollar and is collateralized by a blend of other cryptocurrencies. 

Since cryptocurrencies are volatile, Dai can be used as a hedge against volatility, especially at times when traders believe the price of cryptocurrencies could crash. Dai token keeps the value of $1 since it is soft-pegged to the dollar. Currently, the 

 of Dai is at $2.8 million and it is expected to grow.

Dai stablecoin was created by MakerDAO, which is a decentralized autonomous organization. It operates in a decentralized methodology by using smart contracts. MakerDAO was established in 2014 by Danish entrepreneur Rune Christensen. 

MakerDAO is managed through a democratic system where MKR holders vote on decisions to be made regarding changes to MakerDAO, Maker Protocol and DAI. The power of their vote is proportional to the number of Maker tokens they possess.

Dai token and its smart contracts were officially launched on the

 blockchain on Dec. 18, 2017. Venture capital firm Andreessen Horowitz invested $15 million in MakerDAO in September 2018, making it the owner of 6% of the total MKR token. That year, even as ETH saw a drastic drop in price, Dai managed to successfully maintain its $1 handle. 

In 2019, there were divisions within MakerDAO because founder Christensen wanted to create a more favorable environment to allow for assets besides cryptocurrency to serve as collateral for Dai. After some

, the Chief Technical Officer (CTO) left MakerDAO.

Dai is created when users borrow against locked collateral, and it is destroyed when loans are repaid. If you deposit Ether or other cryptocurrencies accepted as collateral, you will create a new Dai. When you pay back the borrowed Dai, the locked collateral will be recovered. 

As mentioned above, Dai is pegged to the U.S. dollar. To maintain its value, Dai uses Target Rate Feedback Mechanism (TRFM). So, the goal of Dai is to keep the value at $1. If the price target is below $1, then TRFM increases so that the price goes back up. When the price goes back up, Dai crypto holders make profits, and demand increases. As demand increases, the supply decreases since users borrow Dai through Collateralized Debt Position (CDPs) and buy from the market. Thus, they cause the Dai price to go back up to its target price.

There are other stablecoins such as Tether (USDT), True USD (TUSD) and Paxos Standard (PAX). All of these stablecoins have one thing in common: they are pegged to stable assets (such as the U.S. dollar). Dai differs from the rest for several reasons. The main advantage is that Dai is decentralized. It is managed by a decentralized autonomous organization via a software protocol. Since Dai stablecoin is built on the Ethereum blockchain, anyone can create Dai without permission. 

Every activity on the blockchain is publicly recorded by the Ethereum-powered self-enforcing smart contracts. Therefore the system Dai uses is transparent and less prone to corruption.

Also, within Dai, there is a democratic system of governance, where every change and decision is made with the votes of regular participants.

Dai stablecoin is mostly used as a hedge against volatility since it maintains a stable value. What characterizes these assets is precisely the ability to maintain their stability even in a volatile market. Dai does just that because it can maintain the $1 price in any situation.

Dai can also be exchanged relatively easily for real money or traded for other goods. It is one of the most popular crypto assets in Decentralized Finance (

). Lending with Dai deposits come with a number of benefits as well. In countries such as the United States, United Kingdom, Netherlands, Australia, France, and Spain, customers can obtain two percent a year on their Dai deposits by lending through Coinbase.

Dai can also be used in cross-border transactions. Making international transfers to other countries through traditional methods like Western Union can be very expensive and time-consuming. With the Maker Protocol, which is based on blockchain technology, you can make transfers of Dai for a fraction of the price of the traditional method, within a few seconds.

Also, it has always been difficult for developers to integrate dollars into FinTech applications. Dai token makes this process much easier because developers can enable users of their platforms to make transactions using Dai. This is possible because Dai is accessible to everyone since it exists in the Ethereum blockchain.

In the early days of cryptocurrencies, it could be difficult to buy them since there weren’t many cryptocurrency exchanges. These days, the amount of cryptocurrencies have grown dramatically and it has never been easier to buy them.

The first place that comes to mind when it comes to getting Dai tokens is the MakerDAO platform. However, you can buy Dai crypto on many cryptocurrency exchanges also. Some of these exchanges are:

You can also get Dai through Decentralized Finance (DeFi) token swap protocols such as:

Dai is an ERC-20 token so it can be stored in any ERC-20 compatible

 such as Atomic, MyEtherWallet, Metamask, Exodus, Jaxx, Mist, and Trust.

 such as Ledger or Trezor. Hardware wallets are more secure to store your tokens as they are not connected to the internet, and is therefore impossible to hack. 

MakerDAO has made great strides in making Dai as competitive a stablecoin as possible. Since Dai launched in 2017 on the Ethereum blockchain, one can safely say that the token has had considerable success.

Since the purpose of MakerDAO is for Dai to be an “unbiased currency”, they have even made the Dai logo in a way that is more easily identified as a currency at a glance. Something similar to fiat currencies’ logos such as the Euro and Dollar. 

To succeed in the future and achieve its goals of being adopted and used by millions of people, Maker must work and focus on the tokens’ branding, educate people about the token and the benefits they will have if they decide to use the token. 

However, since Dai differs from other stablecoins in many respects, then it seems that such a thing is not impossible and it seems that Dai’s future is bright. The future of cryptocurrencies in general seems to be very promising, as they are expected to be an important part of the financial world.

There are many stablecoins out there. But Dai is truly unique, as it is an ERC-20 token based on the Ethereum blockchain.  It is Dai’s democratic system of governance that makes it stand out from the crowd. 

Dai can be used as a hedge against inflation as it maintains the value of $1 in any situation. Although this may be the goal of all stablecoins, what makes Dai stablecoin special is that it does this through an automated system of smart contracts on the Ethereum blockchain. 

A Beginner’s Guide: What Is Dai and How Does It Work?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards