SPEED is the official fungible token of the Oracle Red Bull Racing Velocity Pass 2.0, uniquely integrated with digital Velocity Pass NFTs. Learn more here.

The Oracle Red Bull Racing Velocity Series represents a groundbreaking collaboration between the high-octane world of Formula 1 racing and the revolutionary technologies of 

. This partnership, spearheaded by Bybit and 

, seeks to redefine fan engagement by integrating the thrill of racing with the dynamic potential of digital collectibles. Through the introduction of the SPEED token and the 

 protocol, this series not only captivates enthusiasts of motorsports and crypto but also sets a new standard for innovation in both fields. 

As we explore these technologies, we'll uncover how they blend the adrenaline of real-world racing with the expansive possibilities of the digital realm, offering unique opportunities for interaction and investment.

What Is Oracle Red Bull Racing Velocity Series?

 is a pioneering initiative by Oracle Red Bull Racing and Bybit, blending the excitement of Formula 1 with innovative digital art and NFTs.

Launched as a strategic collaboration between Bybit and Oracle Red Bull Racing, the Velocity Series aims to captivate both racing aficionados and digital art enthusiasts by merging these two worlds through blockchain technology. The series features unique digital artworks that draw inspiration from the racing team's performance and dynamic data generated by the iconic RB20 F1 car.

DN-404 is an Ethereum token standard that represents a novel approach to blockchain technology, specifically designed to handle the complexities of 

. Created by Asterix Labs in February 2024, DN-404 aims to streamline the ownership and trading of these unique digital assets by allowing them to be fractionally owned and traded, thus bridging the gap between non-fungible and fungible token functionalities.

The DN-404 protocol utilizes a sophisticated mint-and-burn mechanism to manage the relationship between fungible tokens and their corresponding NFTs. Purchasing a full token results in the minting of a linked NFT, while selling parts of the token leads to proportional burning of the NFT, thus maintaining a balance that supports fractional ownership and transferability. This process ensures that NFTs can be owned and traded more flexibly and with fewer complications compared to traditional methods.

SPEED is the official fungible token of the Oracle Red Bull Racing Velocity Pass 2.0, uniquely integrated with digital Velocity Pass NFTs.

This token is limited to a total supply of 2,000, making it an exclusive element of the Velocity ecosystem. SPEED tokens are intricately linked to the ownership of Velocity Pass NFTs, which provide various benefits and privileges within the Oracle Red Bull Racing community. This means that if you were airdropped a Season Two pass (

), or you bought one via the Dutch auction, you will have one SPEED token in your wallet. 

The integration of SPEED with these digital assets ensures a cohesive and enriched user experience.

Velocity Pass NFTs are exclusive digital assets that offer holders a unique blend of experiences and benefits within the Oracle Red Bull Racing ecosystem. These NFTs serve as more than just digital collectibles; they are keys to a series of privileges and interactions that connect fans more closely with the world of Formula 1 racing. Owners of these passes gain access to special events, digital art drops, and other unique experiences designed to enhance the fan engagement and community aspect of the racing series. Each NFT is tied to specific benefits and offers, which vary depending on the level of pass and the events occurring within the racing season.

This year, the Velocity Pass significantly expanded and enhanced its offerings. The collection introduced an appealing new design and grew by an additional 1,000 passes, totaling 2,000. This expansion aimed to enrich the overall experience, introduce new surprises frequently, and expand the community, thus drawing more fans into the exciting world of Velocity.

Holders of the Velocity Pass 2.0 now enjoy exclusive privileges, though it's important to note that fractional ownership does not qualify for these benefits. These privileges include access to three exclusive NFT artwork drops from top-tier artists in 2024, eligibility for various surprise elements, and participation in raffles with outstanding prizes.

In terms of distribution, out of the total supply of 2,000 Velocity Pass 2.0 NFTs, 900 were made available through a rebate Dutch auction that started at 5 ETH and decreased to 0.5 ETH. Moreover, 1,000 passes were airdropped to original Velocity Pass NFT holders, determined by a snapshot taken on Apr 12, 2024 at 1PM UTC. The remaining 100 passes were reserved for promotional activities.

Ownership and actions associated with the SPEED token are intimately tied to the Oracle Red Bull Racing Velocity Pass 2.0 NFTs. Each SPEED token is linked to a corresponding NFT, and various transactions can alter the ownership status and privileges of these digital assets.

These mechanisms ensure a dynamic interaction between the token and the NFT, mirroring the complex relationships within more traditional asset management but with the added nuances of blockchain technology.

There are multiple benefits of SPEED, including:

The SPEED token significantly enhances liquidity within the cryptocurrency market. Holders are not limited to waiting for a single buyer but can engage in transactions across multiple exchanges instantaneously. This flexibility ensures that users can capitalize on market movements quickly and efficiently, reducing the potential for slippage and improving the overall trading experience.

SPEED tokens introduce a more flexible approach to participation within the Oracle Red Bull Racing Velocity ecosystem. Investors and fans have the liberty to decide the extent of their involvement, whether fully immersed or partially engaged. This flexibility allows for a more personalized interaction with the ecosystem, accommodating both casual enthusiasts and dedicated supporters.

By holding SPEED, you become an early adopter of the DN-404 technology, one of the first of its kind in the blockchain space. This positions SPEED holders at the forefront of blockchain innovation, providing them with the opportunity to experience and benefit from the latest developments in blockchain technology and NFT integration.

Owning SPEED tokens also means becoming a part of an active and passionate community. This community is composed of individuals who are enthusiastic about the latest advancements in blockchain technology and are keen on exploring new possibilities within the NFT space. The community aspect fosters a network of support and information exchange, enhancing the user experience and providing a foundation for collective growth and learning.

Purchasing and selling SPEED tokens is straightforward and can be done through decentralized exchanges that support this token. To engage in transactions, users can input the specific contract address of the SPEED token (0x1c72523eecade307c9bffd03953ff91c5b80be09) into the DEX such as 

The Oracle Red Bull Racing Velocity Series, with its SPEED token and DN-404 protocol, exemplifies the innovative fusion of sports, art, and technology. This initiative not only enhances the fan experience by offering a digital interactive dimension to the racing world but also pushes the boundaries of what is possible in the NFT space, paving the way for new forms of digital engagement and investment.

If you have any questions or require any clarifications, you can ask for help on Discord and we will try to help you achieve the best possible SPEED and Oracle Red Bull Racing Velocity Series experience.

This Community Guide is not intended as advice. It is important to note that cryptocurrencies remain unregulated in many jurisdictions, including the UK. Profits from cryptocurrency transactions may be subject to capital gains taxes or similar financial obligations. Additionally, the value of cryptocurrency investments can fluctuate, increasing or decreasing in value. Given that DN-404 is a new and evolving blockchain technology, prospective participants in the Velocity Series 2.0 are advised to seek independent advice before engaging with this platform.

Intermediate

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Oracle Red Bull Racing Velocity Series (SPEED): Advancing with DN-404

Mode is an Ethereum Layer 2 network that makes it easier and more efficient to develop web3 projects. Learn more here.

 Ethereum networks are one of the most popular ways of handling modern 

 transactions. Since they make the classic 

 system faster and more affordable, Layer 2s are ideal for creating 

 hopes to stand out from other Layer 2 ecosystems by offering some unique rewards for people who participate in its network. If you're interested in learning about all the profit opportunities available through Mode’s network, check out this helpful guide.

 is an Ethereum Layer 2 network that makes it easier and more efficient to develop web3 projects. It uses a built-in rewards system that directly provides prizes to all people who build projects on Mode, or participate in its community in other ways.

, whose background is in economics. Ross previously created a DeFi growth consultancy, agency0x, and was the managing director of a blockchain marketing business called Hype Partners. Ross's work in the blockchain sphere encouraged him to start thinking about what made new crypto projects successful. Eventually, he decided to take his ideas and apply them to new economic systems that empower developers and encourage more equitable participation.

The Mode ecosystem arose out of a desire to create a more cooperative blockchain environment. Mode's founders noticed that most blockchain networks and projects aim to compete with each other, and tend to steal each other's users. While this does lead to some excellent projects gaining attention, it can also make it harder for innovative ideas to flourish.

The Mode team decided to apply the concepts of cooperative game theory to their blockchain network, rewarding contribution and cooperation and creating a system where everyone simultaneously profits. By rewarding developers for participating in its economic systems, Mode hopes to encourage network growth and allow a wide variety of blockchain projects to flourish.

The core functionalities of the Mode network run on Ethereum’s decentralized blockchain. As a Layer 2 network, Mode relies on Ethereum to maintain its security and process many of its transactions. Mode then includes a set of software and protocols that make it easier and faster for their clients to run projects. 

Mode’s underlying architecture is modular. Separate functionalities are divided into different layers. By handling aspects such as consensus and execution on their own separate chains, Mode becomes far more efficient. Its network also benefits from the inclusion of 

 technology. This free, open-source system provides excellent data compression, helping to further reduce fees and transaction times.

A variety of features seamlessly interact in Mode’s economic systems. Following are the core features that users can access.

The Layer 2 chain in the Mode ecosystem has all the core functionalities of a classic Layer 2 network. By allowing users to access a more scalable system, Mode’s network ensures that transactions are as affordable and scalable as possible. As users conduct transactions on the Layer 2 network, they earn points that can be exchanged for rewards. Mode’s Layer 2 also particularly focuses on development, offering many helpful tools that let developers seamlessly interact with the network and create new projects.

 are Layer 3 networks that provide developers with the option of creating application-specific chains. By allowing users to design their own chains for individual projects, the network provides significantly lower fees and sequencer fee sharing, which provides additional revenue to spur community growth.

Users with MODE tokens can choose to stake their assets as a way of participating in the network's economic systems. People who stake earn a multiplier on reward points, and they get to contribute to liquidity and help the network function properly.

Recently, Mode’s network announced the 

 to help developers flourish. Users can apply for assistance and grants to help them develop new projects. Shortly after introducing Mode Yield Accelerator, the network also announced that the accelerator would provide access to mentors from EigenLayer, 

, Renzo and many other popular blockchain projects.

As part of its mission to encourage cooperation between community members, Mode regularly runs 

. These token distributions are a method of rewarding developers with extra tokens beyond the ones they earn from day-to-day participation. Here's what you need to know about all the airdrops Mode has announced so far.

Airdrop Season 1 ran until May 5, 2024. The top 2,000 wallets by points within the Mode ecosystem received MODE tokens. Token distribution was in proportion to wallet rank, and users received a second batch of tokens if their first set remained in the system for 90 days. Airdrop claims will continue to be valid until Jun 5, 2024.

Airdrop Season 2 runs from May 5, 2024 to Sep 6, 2024. This airdrop will include 500 million MODE tokens. Users can earn points for tokens, based on how much money they have in the Mode ecosystem and to what extent they participate in 

 and DEX services through Mode. Airdrop participants can also earn points by paying transaction fees on Mode.

Mode spent most of 2023 designing and launching its system. Now that the blockchain network is live, the network is focusing on encouraging more people to use its ecosystem. Through its airdrops and other community rewards programs, Mode hopes to boost user adoption and empower developers. The project has plans to collaborate with a variety of other projects, such as 

, to help attract users to Mode’s network. 

Mode hasn't provided many details regarding plans to upgrade the technology behind its project any time soon, but it's possible the network may update its system in order to take advantage of the new 

The MODE token is an essential part of managing the Mode ecosystem. It's used for governance and is distributed as a type of user reward for certain behaviors. There are 

, with an initial circulating supply of 1.3 billion. All of these tokens will be distributed according to the following simple plan:

MODE is still a fairly new token, but there’s already a lot of speculation about its price. After briefly achieving an all-time high of $0.1477 when it debuted on May 7, 2024, MODE's price has now dropped to around $0.04. Some crypto analysts forecast slow yet steady growth for the rest of 2024. 

 and maintain an average price of around $0.085. DigitalCoinPrice is also positive, with its analysts 

 could reach highs of $0.0957 by the end of 2024 and $0.34 by 2030.

Looking to trade Mode tokens? Bybit now offers the MODE/USDT Spot trading pair. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency, and navigate to the 

To celebrate this listing, Bybit is holding an exclusive event where you can 

MODE may be a good option for investors who want a reliable crypto with the potential for some big price spikes. It’s been quite steady so far, and its utility within the Mode ecosystem will also help to stabilize prices. Mode is also getting a decent amount of positive press, and having many social media fans praising its crypto can help its price rise even further.

However, don't forget that all cryptocurrencies come with some inherent risk, especially when they're linked to a brand-new project. Mode still has to prove itself and stand out from other Ethereum Layer 2 networks. If something goes wrong within the Mode ecosystem, MODE prices are likely to fall. Investors need to 

Mode’s Ethereum Layer 2 network rewards contribution and boosts user adoption with its unique system. In addition to offering standard Layer 2 features like faster transaction times, Mode is also particularly focused on cooperation. Its reward points system ensures that everyone benefits from network growth. These promising rewards have already attracted quite a few web3 projects to the Mode ecosystem, so big things may be in store for the MODE token.

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Mode (MODE): A Modular Ethereum L2 That Rewards Users

Explore the top 13 trending crypto tokens of 2024, including meme coins like MEW and PONKE, AI-focused tokens like SPEC and LAI, and DeFi projects like KMNO and mETH.

The current year (2024) has started strong with the 

 in January, leading to a price rally for 

 and the entire crypto market as sentiment shifted positive. Then, following the fourth 

 in April 2024, Bitcoin’s price broke records with a new all-time high of over $73,800, further cementing crypto enthusiasts’ belief in a strong bull run. While Bitcoin’s price may have floundered slightly since, the market remains optimistic. 

, have been spurred by overall market positivity and Bitcoin’s innovations. They’ve popped up one after another, with many 

 and explore the potential yields they offer? Read on!

) protocol offering one-click products that unify lending, liquidity provision and leveraged liquidity for users. Its 

 in the protocol to earn rewards. KMNO is 

 as of May 11, 2024, and has a total supply of 10 billion, of which 4.5 billion are currently in circulation.

From May 2 to May 23, 2024, 8AM UTC, you can win a portion of the 

 from the Bybit x Kamino Airdrop Bonanza. The event is split into three parts (or “Perks”). Perk 1 is a Community Airdrop, with 2,500,000 KMNO up for grabs. Perk 2 allows you to earn from a 625,000 KMNO prize pool by referring new users, but you must first complete Perk 1. Perk 3 is essentially the same perk as Perk 2, but exclusive to affiliates.

The crypto bull run has sparked a surge of interest in meme coins — in particular, Solana-based meme coins. 

 rally. MEW was launched to challenge the current dominance of dog-themed meme coins with a cat-themed token — and judging by the price boom it experienced within just a few days of its launch, it appears to be succeeding. 

 skyrocketed by 385% to reach an ATH of $0.0097 within four days of its launch on Mar 27, 2024. 

Nine-tenths of MEW’s 88,888,888,888 tokens were burned as 

, which likely contributed immensely to its success, since burning most of its tokens helped create a stable price floor that protects this meme coin from market volatility.

Between May 6 and May 20, 2024, 8AM UTC, you can participate in Bybit’s MEW Trading Tournament to compete for your share of the 

. Simply trade the MEW/USDT Spot pair and aim to accumulate the highest trading volume to secure rewards. If you’re among the top five traders, you have a chance to win 7,500 MEW, with rewards of smaller amounts going to 181 more traders who finish the tournament with lower rankings.

 (TON) is a highly scalable decentralized 

 (L1) network. It was first developed by Telegram in 2019 and was known as Telegram Open Network, with its own token, called Gram, designed to be used for all transactions and activities on Telegram. 

In 2020, however, regulatory concerns forced Telegram to abandon the project, and Gram was never issued. Fortunately, for all 

 and Telegram devotees — as TON had been developed as an open-source platform — the community took over, rebranded as The Open Network. Toncoin (TON) was built as an alternative to the Gram token, with additional governance features enabling holders to vote for changes in the platform’s future direction.

 and Telegram to facilitate seamless and instant 

 payments across the globe at no cost. This strategic move further solidified TON’s goal of becoming a decentralized open internet with a borderless financial system. 

Ready to earn some TON? Bybit’s TON Traders Frenzy campaign is 

 in rewards. The event runs from Apr 29, 2024 through Jun 23, 2024, and is divided into two parts. The first is a Learn & Earn event, with a TON prize pool worth 80,000 USDT. The second is a Refer & Earn event, in which both the referrer and referee can earn from a share of 40,000 USDT worth of TON rewards.

Another Solana meme coin that’s sneaking into people’s hearts is Ponke (PONKE), represented by a monkey characterized as a greedy degen gambler that quickly loses its temper. But beneath this monkey’s angry façade lies a good heart — making this contradictory trait its biggest source of appeal. PONKE has attracted veteran crypto investors such as Davinci Jeremie and Crypto Rover, and is currently 

, over 1,500% higher than its ATL of $0.009 on Jan 3, 2024.

 as a Spot pair. Tokens on Bybit’s Adventure Zone are typically more volatile, and require higher fees to trade — but also hold potential for greater returns. From May 10 to May 27, 2024, 9AM UTC, you can earn from a 

 by participating in two of Bybit’s PONKE listing campaigns. The first is a Deposit to Earn event, with a 1,200,000 PONKE prize pool exclusively for new users, while the second event, Trade to Earn, features a 300,000 PONKE prize pool.

 is a highly scalable multi-blockchain system with an asynchronous structure. It consists of a Layer 0 blockchain, called the masterchain, which facilitates communication among L1 workchains, dynamic shardchains and 

–coded accounts. The workchains can freely interact with each other without relying on third parties, enabling both chain and decentralized app (

) customization according to a project’s needs. 

VENOM is the native token for the Venom blockchain. It’s used to power the network in several ways, such as incentivizing validators and delegated staking. VENOM holders can also participate in governance by using their tokens to suggest and vote for proposals.

, held from May 9 to May 30, 2024, 8AM UTC. Just as with the Kamino airdrop event outlined above, this event is separated into three 

. Perk 1 features a 5,000,000 VENOM prize pool, while Perk 2 and Perk 3 each feature a 740,000 prize pool.

ZeroLend is a multichain lending protocol across five L2 blockchains 

 mainly focuses on liquid restaking tokens (LRTs) and 

 (RWAs) lending. Its lending features are equipped with advanced 

 features, such as Isolation Mode for high-risk assets, and supply/borrow caps to help mitigate bad debts.

Besides crypto asset lending and borrowing, ZeroLend has also expanded into account abstraction (AA), whereby assets are stored in smart contracts to create programmable wallets that streamline web3 users’ experiences — for example, with AA, DApps can help users take care of gas fees.

 used for payment and staking within the protocol, and is also integrated in supported DeFi platforms for use as collateral. ZERO’s 

Between May 6 and May 20, 2024, 8AM UTC, you have the opportunity to earn from a 

 via two ZERO Token Splash events on Bybit. The first event, Deposit to Earn, is exclusively for new users, in which you can earn from a share of 40,000 USDT. The second event, Trade to Earn, features 30,000 USDT up for grabs.

BUBBLE Coin (BUBBLE) is the native coin powering a web3 entertainment platform known as Imaginary Ones. BUBBLE can be earned by completing social tasks and playing mini-games.

Imaginary Ones offers an Ethereum-based NFT collection with its namesake, consisting of 8,888 colorful 3D characters that sold out within four minutes of launch. 

 is the second collection, following Imaginary Ones, which allows its holders to participate in casual games to earn rewards. Imaginary Ones aims to become the web3 version of Disneyland, via its future adaptation of Imaginary Rides, which will be transformed into 

, a digital theme park filled with casual games to earn BUBBLE tokens and other crypto rewards.

From May 13 to May 27, 2024, 9AM UTC, you can participate in three BUBBLE listing events on Bybit to win a portion of the 

. The first and second events are Deposit and Trade campaigns, respectively, running from May 13–27, 2024, with prize pools of 160,000 USDT and 70,000 USDT, respectively. Meanwhile, the third event is a 30,000 USDT Lucky Draw running from May 15 to 22, 2024. 

Artificial intelligence (AI) has burst onto the technology scene with a boom and infiltrated the crypto landscape, so it’s no surprise that some trending tokens include AI-focused cryptos.

Spectral’s decentralized oracle platform combines AI with blockchain, creating smart contracts imbued with machine learning (ML) and AI abilities so that it can both source and infer insights from data. The data information is verified using 

 (zkML) proofs developed by Spectral, thus ensuring data accuracy and privacy. While the data can be used for various industries, Spectral has fixed its focus on DeFi, aiming to create a credit scoring system that will help derive reliable on-chain creditworthiness scores. Its native token, SPEC, is used for governance and to power its blockchain.

From May 6 to May 17, 2024, 9AM UTC, you can participate in Bybit’s listing campaign featuring two events dedicated to SPEC, with a 

. The first is a Deposit to Earn event, with a prize pool of 100,000 USDT exclusively for new users, while the second is a Trade to Earn event featuring a prize pool of 50,000 USDT. These events end soon, so act now to boost your returns from trading SPEC!

Another trending AI project to note is LayerAI, a data-oriented AI blockchain network like Spectral but with a broader spectrum of targeted industries. It aims to improve data quality for industries such as biotech, medicine, fitness, logistics, infrastructure and gaming. 

LayerAI’s approach to data monetization is also more straightforward, as users can earn by contributing their data or browsing on the internet, represented as Data Capsule NFTs. Upon receiving the user’s permission, the data collected is used to finance AI startups, which can send AI development requests to use the data collected to build AI models. Users can also choose to buy and sell Data Capsule NFTs on the Layer NFT Marketplace.

LayerAI’s token, LAI, is used for various purposes, such as paying for transaction fees, unlocking discounts and staking for rewards. LAI, 

, has a maximum supply of 3 billion, with 87,900,000 tokens permanently burned. 

Between Apr 25 to May 17, 2024, 8AM UTC, you can also grab a share of the 500,000 USDT prize pool Community Airdrop Quest dedicated to LAI. This event is ending soon, so don't miss out on the opportunity to secure your rewards!

Galaxis is a web3 SocialFi platform created to boost community engagement and growth. It offers diverse tools, called Traits, that help communities connect. These include Online Meeting Traits for easy meeting arrangements, and Gamification Traits, which support active gameplay. Galaxis also provides unique features such as Digital Redeemable Traits, which members can redeem to keep valuable digital assets in vaults.

GALAXIS is Galaxis’ official token. It runs on both 

, and is used to drive community growth within Galaxis. The token has a maximum supply of 10 billion and a total supply of 7.5 billion, and is currently 

Between May 10 and May 22, 2024, 9AM UTC, you have the opportunity to win a share of the 

 in two Bybit GALAXIS listing events. The first is a Token Splash event with 25,000 USDT up for grabs, while the second event, ending soon on May 16, is a Lucky Draw offering a 10,000 USDT prize pool.

 (L2) chain on Ethereum. It was created by popular digital artist Sartoshi (whose name is based on that of Bitcoin’s pseudonymous founder, 

). Sartoshi had previously created a collection of 10,000 mfer non-fungible tokens (

) represented as stick figures. The most expensive NFTs in this collection, mfer #2904 and mfer #4595, cost 420.69 ETH ($1,207,712 as of May 13, 2024) each. 

The mfercoin was launched in late March 2024, spiking to an ATH of 

$0.26 shortly after its launch. Following the coin’s launch,

 members of the mfer community, consisting of mfer NFT holders and collaborating artists, were allocated 20% of the total supply in an airdrop.

You can trade MFER as a Spot pair on Bybit (MFER/USDT). In addition, you can easily earn a share of the 

 on May 14, 2024 at 8AM UTC to learn more about Bybit Earn products and score in a simple pop quiz! The challenge ends on May 22, 2024.

Zeus Network is a communication layer built on Solana Virtual Machine (SVM) to facilitate interoperability between Solana and other blockchains. Its initial focus is on Bitcoin, with the recent development in the Bitcoin blockchain producing DeFi innovations such as Ordinal NFTs and 

Zeus Network creates bridgeless and secure cross-chain transfers via its Zeus Program Library (ZPL), which transforms Bitcoin assets into customizable and verifiable ZPL-Assets that can be used on the Solana blockchain. By linking Solana and Bitcoin, Zeus Network seeks to merge Bitcoin’s security and liquidity with Solana’s speed and affordability, paving the way for boundless DeFi opportunities in the crypto landscape. 

The native token for Zeus Network, ZEUS, has a total supply of 1 billion and a 

. ZEUS is available for trade on Bybit as a Derivatives contract. From May 8 to May 24, 2024, 9:59AM UTC, trade ZEUS as a Derivatives contract and invite a friend to join for a chance to win from a 

Mantle Staked Ether (mETH) is a liquid staking derivative (

) token from Mantle Network that can be used for various DeFi purposes while your ETH remains staked. mETH’s 

 allows you to amplify your yields in five ways: stake mETH for a double-dose market yield, engage in mETH yield farming for up to 126% APY, use mETH as collateral for borrowing and lending, gain access to DeFi vaults and utilize mETH for perpetual or margin trading.

Through May 23, 2024, you can earn a share of 

 for mETH. In the first event, open to all users, you can stake 0.1 ETH to earn from a prize pool of $5,000 MNT. The second event, consisting of bonus rewards, is exclusive to new users who have completed the first event. 

Thus far in 2024, the crypto market has witnessed notable milestones, such as the fourth Bitcoin halving and the approval of Bitcoin Spot ETFs, fueling an overall bullish trend that’s propelled numerous altcoins. Meme coins, AI-focused tokens and DeFi protocols have been particularly prominent, showcasing the diverse range of projects rapidly emerging in the crypto space. 

trending crypto.png

Top 13 Trending Crypto Tokens: Your Guide to the Hottest Picks in 2024

Spectral (SPEC) is revolutionizing blockchain and DeFi by offering decentralized oracles that provide insights from AI and ML inferences.

Many niches within the blockchain industry, particularly the 

 applications to update and track prices, verify off-chain data and enable a variety of cross-app communication activities. So far, the use of blockchain oracles has been limited to supplying only raw data.

Spectral is an innovative decentralized project. It champions the idea of oracles that provide not just data, but insights and inferences from artificial intelligence (AI) and machine learning (ML) models. Read on to learn about Spectral's innovative combination of AI and blockchain.

 (SPEC) is a decentralized platform that offers two core products — Spectral Nova, a network of AI and ML models that can feed inferences and insights from their computations into blockchain smart contracts and apps, and Spectral Syntax, a generative AI tool that lets you easily create smart contract programming code based on textual prompts.

Thanks to the Spectral Nova platform, blockchain smart contracts can accept not only data but also inferences — i.e., results and solutions of AI and ML algorithm computations. These AI and ML algorithms are contributed by data scientists who receive crypto rewards for their contributions. The models are stored and shared in a decentralized way, and their integrity and quality are ensured through the work of special Validator and Creator 

Spectral Syntax allows you to generate production-ready code in the Solidity programming language for smart contracts that automate various activities, such as token creation and distribution, asset transfers and other common web3 operations.

Spectral Nova (Machine Intelligence Network)

's concept is somewhat similar to a decentralized marketplace that brings together creators and consumers of AI and ML models. However, the network's setup is a tad more intricate than the simple dualistic provider-consumer relationship. There are four different actors on Spectral Nova, each with its own unique role.

 is a generative AI tool that lets you easily create smart contract programming code using textual prompts. The Syntax tool has been optimized based on a range of large language models (LLMs). In some ways, Spectral Syntax is quite similar to the ubiquitously popular ChatGPT.

The key difference is that ChatGPT is a general-purpose tool, whereas Spectral Syntax has been optimized to assist developers by generating high-quality code in the Solidity programming language — the default language used for smart contract development on 

 (EVM)-compatible blockchains. Developers can test and edit the code before directly deploying it 

The Spectral Syntax tool is primarily intended to help create AI-based, autonomous on-chain agents, software modules that automate some functionality or process within a web3 app or even a 

. Thanks to the use of AI algorithms, these agents can incorporate functional details that ordinary smart contracts might not be capable of — e.g., learning and adapting based on experience or user input, or utilizing predictive analytics and forecasts.

AI agents created using Spectral Syntax are envisioned to be hosted on a dedicated decentralized network, 

, slated for initial release in Q4 2024 with mainnet launch planned for 2025.

While Spectral's AI/ML models and inferences can be applied in various areas and industries, there's one specific area of focus for the project team: DeFi — or, more specifically, DeFi-oriented credit risk assessment. Spectral envisions a future web3 world where all actors (e.g., individuals, borrowing and lending protocols, and other entities involved in crypto financing operations) have credit scores based on their on-chain activities.

Naturally, such a decentralized credit score is unlikely to be reliably computed the way it's done in traditional finance. Spectral proposes a credit scoring system for web3 that will help derive on-chain scores of creditworthiness. Using this system, all on-chain actors will have an equivalent of the traditional FICO score. The scoring will be based on variables such as on-chain transactional activity, verifiable ML computations and zkML proofs, decentralized credit modeling and so on. 

By proposing an on-chain equivalent of the credit risk infrastructure that traditional finance institutions have used for decades, Spectral hopes to improve capital efficiency and the flow of digital assets in the DeFi industry and to introduce safer lending and borrowing practices.

Spectral's interest in creating such a programmable creditworthiness ecosystem isn't unusual — predictive analytics based on AI and ML algorithms are already widely used in the finance industry for credit risk analysis — and the project hopes to leverage its focus on AI and ML inferences in this area.

Spectral's native cryptocurrency is SPEC, an 

 token extensively used throughout the platform's ecosystem for a variety of functions, including the following:

SPEC's total and maximum supply are 100 million. As of May 14, 2024, it’s 

Where to Buy the Spectral Crypto Token (SPEC)

You can trade the SPEC token on Bybit as a Spot pair (

). If you don’t have a Bybit account, you can easily 

 to access a vast range of crypto products and assets.

You can also take advantage of Bybit's campaign (running from May 6 to May 17, 2024 at 9AM UTC) dedicated to the SPEC token to grab a share of the 

. The campaign is split into two parts: the first is a 100,000 USDT prize pool Deposit to Earn event that’s exclusive to new users, while the second lets you earn from a prize pool of 50,000 USDT by trading SPEC.

To say that AI models are taking the world by storm is probably an understatement. Spectral, with its specialization in AI and ML inferences and their practical applications, stands to greatly benefit from this development. The platform's Nova product is essentially the first web3 oracle that feeds ready-to-use AI inferences, not just raw data, into decentralized apps (

) and smart contracts. This can potentially take smart contract functionality to a new level — from rule-based computations to AI-powered smart decisions. Thanks to Spectral Nova, we might soon think of blockchain smart contracts as intelligent and self-learning agents.

Spectral Syntax is also a unique product — the first AI-based tool specifically trained to generate production-quality Solidity code for AI agent development. With its duo of novel products, the Spectral platform is a worthy addition to the emerging industry sector at the intersection of AI and blockchain. 

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Spectral (SPEC): Expanding the Capabilities of Blockchain With AI

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AOFverse is a gaming metaverse that combines multiple engaging characters in a variety of game styles. Learn more about how it works in this article.

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In the past few months, the Army of Fortune Metaverse has made waves in the 

 gaming industry. Also called AOFverse, this project combines easy mobile games with 

AOFverse (AFG): Unleashing New Dimensions in Mobile Gaming

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards