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.

Beginner

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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

Crypto

DeFi

Yearn.Finance yields the highest returns in yield farming. Here's everything about YFI tokens, protocols, and more.

What-Is-Yearn-Finance

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This year, cryptocurrencies and blockchain-based projects reach new heights in growth and value. Yearn Finance, more commonly known as YFI or Yearn.Finance, is one of the 

 to show a massive price rally surpassing Bitcoin’s value (for a time) at over $25,000 per token. Still, it remains unheard of despite its phenomenal performance on their projects and vision.

So, if you’re searching for an answer to the question “What is Yearn Finance and how does it work?,” here’s precisely what you need to fully comprehend its concept and the processes it involves.

Yearn.Finance is an open-source, decentralized finance (

. It works as a yield aggregating platform to maximize the user’s investment by automatically moving the user funds between 

 lending protocols, such as Compound, Dydx, 

As of now, Yearn is one of the most popular and most decentralized DeFi projects in the crypto sector. While the YFI is the native cryptocurrency of Yearn.finance. Unlike Bitcoin, YFI is a governance token that boasts of the autonomous protocol.

That means users of the platform have the rights to cast a vote on the protocol’s direction that favor their intention the most. As of now, YFI is one of the largest Ethereum-based tokens prioritizing automated yield farming strategies.

Yearn.Finance is designed to autonomously move users’ funds to more profit-giving providers by locating the protocol offering the best annual percentage return (APR). It is considered a revolutionary breakthrough in the DeFi sector due to the potential yields parallel with stablecoins. 

Think of Yearn.Finance as a decentralized lending platform that lets users deposit ERC-20 

 such as DAI, USDC, USDT, TUSD, or SUSD into the protocol. As a return, stakers receive an equivalent amount of yTokens. So technically, a YFI coin is just like any other ERC-20 token. But instead of lending the deposited stablecoins into any particular protocol, the Yearn Finance platform automatically switches the tokens into a protocol with the highest yield to maximize the user’s profit.

When comparing YFI and other tokens, it possesses better automation and flexibility that has never been achieved before on the blockchain. The best part? The network only charges a small fee deposited into the platform’s pool and is then distributed among YFI token holders as dividends.

Andre Cronje is the founder of the popular DeFi protocol— Yearn. Although this protocol only 

, it has already achieved significant adoption in the crypto sphere. In early September, the platform’s native token, the YFI coin, even reached a peak value of approximately $44,000.

The original goal behind the platform stemmed from Cronje handling money for friends and family. He was looking for a way to put stablecoins to work for a profit. At the time, the most popular protocols were Aave, Fulcrum, Compound, and dYdX. As such, Cronje would manually check these protocols to see which was offering the best annual percentage return (APR). 

To avoid manually moving tokens around and paying 

 that would do the figuring for him. He then wrote the iterations for the yTokens. These yTokens could read the normalized APR output and move to the place, offering the best returns.

Subsequently, it became the basis for Yearn.Finance, which Andre first used himself before opening it up to others. The increase in the number of users had a positive effect on the protocol. That’s because each time a user interacted, the smart contracts checked to see if a rebalance was necessary. A higher frequency of interactions resulted in more shifts between protocols. And more shifts will produce a higher return. 

Currently, Yearn produces better returns in aggregate than any of its downstream sources on its own. The concept is relatively simple – the protocol sends more capital to the place with the highest returns. 

YFI is the native token of the Yearn.Finance platform. It is purely and simply a governance token, allowing holders to vote on decisions that affect Yearn.

YFI is an ERC20-token used for all governance activities on the platform, like voting on a protocol upgrade/change proposal. While there are only 30,000 YFI coins that have been minted and fully distributed to date.

To participate in the protocol, users need first to stake their YFI in a governance contract. They then receive voting rights and a percentage of protocol profits for each of Yearn’s products at regular intervals. To claim rewards, users need to vote, and once they have voted, their YFI tokens will be locked for three days, i.e., they won’t be able to un-stake the asset.

Firstly, TVL represents the dollar value of all the tokens locked up in a smart contract in a decentralized lending project. When analyzing the YFI’s TVL, most of the 

 (29,968 coins) has entered circulation. Thus, the token’s success was marked by an all-time high price of 

 in mid-September 2020 when it’s TVL in the parent protocol surged to over $676 million. As the buying sentiment grew, the YFI/USD exchange rate soared YFI over 

The upshot? YFI is now the first cryptocurrency to worth more than Bitcoin (BTC) per unit.

What Is The Yearn.Finance’s yEarn Product Used for?

Yearn.Finance has several features or services users can tap into now. The yEarn component of the protocol lets users deposit any of several stablecoins: DAI, USDC, USDT, TUSD, sUSD, and more. And as of now, Yearn looks for the DeFi platforms that produce the highest yield. 

Over time, the upgrades and improvements to secure the protocol make Earn more sophisticated. So, the size of the protocol’s user base means yEarn attempts to estimate the optimal allocation rather than simply dumping all of its holdings in one place. The allocation constantly changes because other users are going in and out of the liquidity pools directly.

In June 2020, staking stablecoins (USDT, USDC, DAI, or TUSD) into the Y pool will yield approximately 

 As of now, there is more than $650 million worth of crypto assets staked in the Y pool. Thus, making it one of the best returns in the decentralized finance sector. 

What Are The Yearn.Finance’s Vaults Used For?

Vaults are one of the main components of Yearn.Finance. They are the mechanism that temporarily holds the profits of stakeholders. While these profits are then distributed to YFI holders once the treasury is at or above $500k. And the profits are distributed as yCRV tokens.

Vaults represent the pools of funds that follow specific strategies. The use of vaults helps the community members work together to build strategies that determine the best yield protocol. They allow YFI coin holders to use any asset as liquidity. Liquidity is used as collateral, and collateral is managed at a safe level to avoid a default. The protocol then borrows stablecoins and puts the stablecoins to work on some farming. It then reinvests the earned stablecoins.

Is Yearn.Finance Different from Other Crypto?

Yearn Finance works similarly to other lending platforms. It lets users deposit any ERC20 stablecoin such as DAI, USDC, USDT, TUSD, or SUSD into the protocol and receive an equivalent amount of 

. The yTokens are like any other ERC20 token. The underlying stablecoin is then made available to lend.

Rather than lending the stablecoins into any particular protocol, the Yearn Finance platform automatically switches the tokens into a protocol with the highest yield to maximize user profit.

The network charges a small fee deposited into the platform’s pool and can only be accessible to YFI token holders.

How Sustainable Is The Yearn.Finance Ecosystem?

The purpose of Yearn.Finance has always been long term sustainability and symbiosis. Its creator 

 originally designed the ecosystem to be conducive to participating and optimized mutual settings. When a proposal is made, the goal is not to benefit yearn but to tweak all the systems engaged to benefit all participants and YFI coin holders.

with a trading volume of $300mil per 24 hours. At the same time, there are over 29k of YFI trading actively in 151 active markets.

Most experts agree that Yearn.Finance is very sustainable because its profitability is very high. The yields are high mainly because YFI is supported by a speculative enthusiasm for protocols with liquidity mining programs. The reason why “farmers” can get “yields” in three-digit and higher percentages is because speculators continue to buy new tokens on exchanges. It means speculators pay for the “yields” that “farmers” get in a more straightforward concept.

What Are The Challenges and Risks of YFI?

Although YFI is currently a pioneer in DeFi yield farming, it is not the only lending platform. Several (often questionable) YFI forks have recently appeared on the market and new Yield Farming aggregators such as 

 and asset management platforms such as 

. Which may pose new challenges for Yearn.Finance in terms of competition within the industry. 

Furthermore, the current returns from yield farming will fluctuate, and it won’t last forever. There are plenty of variables that can cause the public to stop buying new tokens and focus on those with stable value. Eventually, it’ll lead to a lower return. Experts and crypto enthusiasts express the hope that the launch of Yearn’s planned insurance, exchange, leverage, and liquidation products may diversify YFI revenue streams and provide option value for YFI holders.

For now, YFI remains one of the most exciting advances in decentralized management. The protocol created a large, diverse, and enthusiastic community of people who are very invested in the success of yEarn. Additionally, Cronje’s leadership and diversification of Yearn products are impressive. 

It’s important to remember that YFI is still a work in progress. That means there are no guarantees of a successful outcome or that the YFI token will remain valuable.

, and anyone can decide to imitate the protocol and concept. Over the year, Yearn has encountered many imitators. However, not many possess the proprietary technology which gives Yearn.Finance the edge over its competitors.

The YFI token value is mainly associated with the community around yEarn and reflects people’s confidence in the protocol and the people behind it. That makes it unpredictable and highly speculative.

The Yearn Finance project has enjoyed vast interest since its launch. After the YFI token crossed the value of $40,000 within a few months of its inception, many labeled it ‘better than Bitcoin.’ 

The nature and efficient protocol are what drives the efficiency of Yearn. For this reason, the platform’s user base will likely continue to increase in the years to come. Especially given that Cronje has announced a new 

. Aiming to focus on core lending and leverage products that increase yields with leverage.

Cronje’s intention to ‘dumb down’ DeFi for the average person turned out to be a winning strategy that catapulted Yearn to crypto stardom. His efforts to simplify the process and provide a better user experience stimulated the mass adoption and growth of YFI. 

Even though Yearn’s yield farming strategy involves a high level of risk, the protocol has so far managed to balance it out and provided some excellent returns this year with relatively limited risk. 

What Is Yearn Finance (YFI) in DeFi & How Does It Work?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards