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

Bybit Learn

DeFi

Liquity is a fully automated and governance-free decentralized borrowing protocol. Learn more about how it works in this article. 

LQTY_Tokenomics.jpeg

For years, one of the biggest issues with 

 has been the high borrowing and issuance fees charged by platforms. Many of these services charge predatory interest rates and are designed to benefit the development team at the expense of users. However, a new system called Liquity has arrived on the scene, and it has the potential to revolutionize the entire crypto-lending market.

LUSD is a USD-pegged stablecoin that serves as the primary network token for the Liquity protocol. When users place their 

, as it’s known, they receive a loan in the form of LUSD. The token can also be redeemed in exchange for Ethereum, as explained in the Redemptions section below.

LQTY is the secondary network token of the Liquity borrowing system, and is given out as a reward to stability providers. These include the frontends who complete the transactions, contributors to the 

, and liquidity providers. These are the only ways to earn LQTY.

It’s important to note that LQTY is not a 

, as the system is entirely self-governing, algorithm-based and self-sustaining.

Liquity was founded in late 2019 by Robert Lauko, who currently serves as head of research, and Rick Pardoe, the project's lead engineer. Its development team also includes CEO Michael Svoboda, who has previously served as CEO of multiple blockchain companies. Liquity officially 

The inspiration for the project was the desire to create a borrowing platform that’s more efficient in terms of capital, and also easier to use. Other borrowing platforms tend to use 

, which are centralized. The project's founders wanted to offer a decentralized, USD-pegged stablecoin to borrowers, which led to the creation of LUSD.

Liquity's main goals include providing interest-free, low-cost smart contracts in the form of loans to crypto users while supplying LQTY incentives to those who make the system work. The protocol also aims to provide a future-proof system by eliminating governance and allowing the system to continue working as intended.

Crypto users in need of a loan use one of several third-party frontends to access the system. After linking a wallet, they deposit ETH into a Trove, against which they can then borrow. There’s a minimum debt of 2,000 LUSD, which is designed to prevent spammers from creating a large number of small Troves and causing 

Additionally, from the initial deposit, 200 LUSD is reserved by the protocol to cover gas prices in the event that the account is closed before the debt is repaid. Accordingly, borrowers aren’t required to pay back those 200 tokens as part of the loan. The only real requirement is that the minimum collateral ratio is observed, and that the ratio stays between 110% and 150%, which we'll explain in more detail below.

 which is the term used for a borrowing pool. After posting ETH as the underlying collateral, loan recipients receive an interest-free loan of LUSD, the protocol's native stablecoin. No interest is charged, and users only pay one-time issuance fees that are set by the Liquity algorithm at the base rate plus 0.5%. The current base rate is also 0.5%, although that’s subject to change. However, the total borrowing fee will never exceed 5%.

For example, if a borrower opens a Trove on Liquity and deposits 5 ETH as the underlying collateral, they would then receive 5,000 LUSD as a loan. However, they would also be responsible for the one-time borrowing fee, which we'll assume is at the current 1%. That would come out to 50 LUSD. Finally, the 200 LUSD liquidation reserve would be added on, giving a total debt of 5,250 LUSD. However, as the 200 LUSD is simply a reserve, the borrower would only need to repay 5,050 LUSD.

, as the name suggests, ensures that the protocol remains stable and can operate at peak efficiency. Its primary use is to cover the debts incurred by liquidated accounts, which is the network term for the closure of a Trove. The necessary amount of LUSD is removed from the pool to cancel out the debt, and then the locked Ethereum is distributed proportionally to the pool's stakers. These are known as "liquidation gains.”

Liquidations only take place under two circumstances: when a Trove falls below the minimum collateral ratio of 110%, or if the system is in Recovery Mode, as explained below. The owner of a liquidated Trove is allowed to keep the LUSD they were loaned, but will still lose money since they won't receive their collateral back (which will always be higher than the price of the loan).

The loan is repaid from funds in the Stability Pool, which eliminates the debt, and the liquidation gains are split among the stability providers. Then, the tokens used to cover the debt from the Stability Pool are burned. Finally, the stability providers receive the liquidation gains to cover the cost of their burned tokens.

One of the more unique features of Liquity is that LUSD token holders 

 stablecoins for Ethereum at face value — i.e., $10 LUSD for $10 worth of ETH. Redemptions can take place at any time and are significantly more common, as you might expect, during times when there’s a beneficial exchange rate. The system does charge redemption fees that vary, but are generally around 1%.

To cover the ETH needed, the Liquity protocol uses the redeemer's LUSD tokens to repay Troves with the lowest collateral ratios, which would be the riskiest accounts. The account holder receives their remaining collateral back, as their debt has been paid, and therefore doesn’t take a net loss on the process.

LUSD is soft-pegged between $1 and $1.10. If it goes above this amount, LUSD token holders can redeem those coins for ETH and thereby lower the price back toward $1. If it dips below, users can again trade LUSD for Ethereum and then sell the redeemed Ether at a profit. This system ensures that the price will always trend toward $1 without having to resort to hard pegging.

Unlike most other blockchain-based systems, there is no official 

 for Liquity. Instead, third parties provide the interfaces that allow users to borrow. This policy is specifically to ensure decentralization, and to allow all potential loan recipients the opportunity to receive loans. One of the core tenets of the system is the elimination of censorship, which can become a problem with other protocols or services.

 in several ways, the primary recipients being stability and liquidity providers. The more LUSD that they have in the pool, the greater the amount of LQTY they’ll receive. They can then take those LQTY rewards and put them back into the system as a stake, which will provide them a share of the protocol's fees.

, users can receive a share of the loan issuance and redemption fees charged by the system. There is no minimum period required and stakers can withdraw their LQTY tokens at any time. Only LQTY can be staked in this way. However, LUSD can be added to the Stability Pool, as mentioned above.

The process is simple, as users only need to add their coins to the 

. They will then receive a share of the fees mentioned above, proportional to their share of the total amount of LQTY staked.

In order to make sure the Liquity protocol works as directed, the system's supply of Ethereum collateral should be above 150% of the total network debt. If it drops below this amount, the system enters 

. At this point, all Troves with below 150% collateral can be liquidated or removed from the system. Although the system is designed never to have to be used, its implementation can easily be avoided by users ensuring their collateral ratio is above 150%, since they would be unaffected even in Recovery Mode.

Liquity's major accomplishments to date include revolutionizing the crypto borrowing space by creating an ideal protocol that can never be changed, and which is infinitely self-sustaining.

In the future, Liquity hopes to continue providing low-cost loans to crypto traders. Unlike other protocols, there is no admin key and no governance, meaning the system will never change. The only real goal Liquity has is increased usage, in addition to being able to provide more rewards to its stakers and stability pool providers. Its fully automated 

 delivery system makes changes or progress both impossible and undesirable.

LQTY serves as the secondary token for the Liquity protocol. It has a maximum supply of 100 million coins and a current circulation of approximately 91.4 million. It reached its all-time high of $146.94 on Apr 5, 2021, shortly after launch, and its all-time low was $0.543990 per coin on Nov 14, 2022.

At launch, 33.9% of available coins were distributed to investors, 33.3% to the community, 23.7% to the team and its advisors, 6.1% to the Liquity AG Endowment, 2% to the Community Reserve and 1% to service providers. Except for those coins distributed to the community, all LQTY tokens issued were subject to a 1-year lockup.

Despite the all-time low reached only four months ago, LQTY quickly recovered and experienced a surge in price, rising nearly 500% in value from $0.54 to its current price of $2.22 as of Mar 22, 2023.

 will close 2023 at $5.31 and reach $8.82 by the end of 2025. They also believe that it will attain a value of $25.40 by the end of 2030.

 more bearish in the short term and bullish in the long term, predicting a final 2023 price of $2.91, a 2025 price of $6.04 and a 2030 price of $38.03.

Although there are inherent risks in all investments, LQTY is considered an excellent long-term choice. First, the price increase expected over the next few years would provide an excellent return on investment. Second, the beauty of the Liquity borrowing platform is that it’s ungoverned. A group of users can't change the system to benefit themselves at the expense of others — a rare occurrence in the crypto sector, but always a possibility.

However, the most important factor in LQTY’s price remains whether or not the Liquity platform itself can continue to grow in the coming years. As more users enter the system, the coin will become more valuable and desirable. Based on its current growth rate continuing to expand monthly, it’s safe to assume that this trend will continue, since there can be no major systemic changes that would drive off the existing user base. As always, it’s important to do your own research before jumping on the bandwagon or investing in any cryptocurrency, including LQTY.

In short, the Liquity protocol is designed to ensure borrowers can easily receive crypto loans without having to pay excessive fees. Liquity is ungoverned and immutable, meaning its system will never change. It’s widely considered to be the best fully automated, decentralized borrowing protocol available, as it’s fully decentralized and has an ever-expanding user base that will keep the system running for many years to come.

Liquity (LQTY): The Rising Decentralized Borrowing Protocol

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards