USDe has been integrated across Bybit, expanding its utility beyond the existing USDe/USDT spot pair. 

Daily Top Performer — Render Network (RNDR)

The SPX index is up 0.13%, this activity reflected investor uncertainty about the sustainability of the recent market rally and caution prior to upcoming central bank updates. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 0.24% and 0.99%, respectively in the past 24 hours.

Today’s outperformer is RNDR, which jumped 2.3% after Apple features Octane X in Keynote, Enhancing M4 Chip with Render Network's Decentralized GPU Power.

Render Network (RNDR), launched on April 2017, leverages blockchain to connect users' spare GPU power for rendering tasks, compensating them with its native token. This peer-to-peer network enhances the affordability and efficiency of producing 3D content for the metaverse and beyond.  RNDR announced that Octane X was featured in 

. Apple users can now significantly enhance their rendering capabilities on the M4 chip by accessing virtually unlimited decentralized GPU compute power via the Render Network using Octane X.

Check Out the Latest Prices, Charts, and Data of 

USDe has been integrated across Bybit, expanding its utility beyond the existing USDe/USDT spot pair. This integration includes the use of USDe as collateral for trading perpetual futures, enabling users to potentially earn a yield from 

 while trading major cryptocurrencies like BTC, ETH, SOL, and ENA. Additionally, Bybit has introduced zero-fee trading pairs for BTC and ETH with USDe and launched USDe on the Bybit "Earn" platform. This allows Bybit users to gain capital efficiency by earning yields on their collateral and receiving 20x sats per USDe. The integration aims to position USDe favorably against other USD-pegged stablecoins by providing value accrual to holders, which is a first in the crypto industry, potentially reshaping trading dynamics.

Grayscale's Bitcoin ETF recorded its first inflows in over four months, signaling a shift in investor sentiment. After substantial outflows, including a peak of $563 million on May 1st, the ETF saw an inflow of $378 million on May 5th and $217 million the next day. This change suggests increasing investor interest in Bitcoin, coinciding with a price recovery to over $64,000. While these inflows could positively impact Bitcoin's short-term price, they are just one of many factors influencing its longer-term price trajectory.

Mode, a Layer 2 network built on Optimism's OP Stack, launched its native MODE token with an initial 

 to early adopters, distributing 500 million tokens, or 5.5% of its total supply of 10 billion. Despite the network's strong start with a $73 million market cap, the MODE token price fell by 60% soon after its release. The network also plans to distribute 1,000,000 OP tokens worth $2.7 million through various campaigns. Mode Network, now termed the Superchain DeFi Hub, has grown significantly, with total value locked (TVL) increasing from $6,000 at the start of the year to $448 million, and over 450,000 active wallets. Despite controversy over airdrops, the network's founder, James Ross, emphasizes their role in building the community and plans to continue using them to enhance ecosystem growth.

Beginner

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Ethena Integrates USDe with Bybit, Boosting Trading Options and Ecosystem Growth

Catwifhat (CWIF) shares the spotlight with Dogwifhat (WIF) on Solana, boasting a unique deflationary feature and a growing holder base in the cat-themed meme coin frenzy.

Cat-themed meme coins have recently been all the rage on 

 (MEW) and Popcat (POPCAT) clearly shows that the crypto community is highly receptive to meme coins whose story revolves around cute felines. 

In December 2023, another meme coin project riding the current "catomania" wave emerged on Solana. Catwifhat (CWIF), however, is unlike the majority of other cat-themed meme coins: it has a unique deflationary property that might pique the interest of the most conservative among crypto investors, in addition to the hordes of meme coin enthusiasts. Four percent of each transaction involving the CWIF token is burned, gradually reducing its total supply while increasing its scarcity, and, hopefully, its value as well.

 (CWIF) is a Solana-based cat-themed meme coin. 

It's one of the several projects contributing to the current wave of popularity surrounding cat-themed cryptos on Solana and other blockchains. Featuring a unique deflationary property, Catwifhat 

 4% of each transaction, significantly reducing its overall supply and marking it as among the most aggressive deflationary characteristics in the industry.

The CWIF token was launched in December 2023, with an initial supply of 77.78 trillion. Less than five months on, the token's aggressive supply-reducing mechanism has driven its total supply to about 36.5 trillion (as of May 7, 2024), with more than half (53%) of the initial supply burned. Currently, nearly half a trillion CWIF tokens are being burned every month.

In addition to the main CWIF cryptocurrency, the Catwifhat developer team has also released the Pixel Catwifhat 

 collection, whose pixelated cats comprise 1,000 items and feature 13 different cat hats as one of its key features. Enjoying significant popularity among NFT enthusiasts, the collection has some of its most valuable items, featuring asking prices of up to $100,000. Currently, Cat #189 is the Pixel Catwifhat NFT with the highest asking price, at 1,035 SOL ($150,417) on the popular Solana marketplace 

The Catwifhat project was undoubtedly inspired by an earlier meme coin, Dogwifhat (

), which was launched in November 2023. Themed around a Shiba Inu dog wearing a hat, Dogwifhat quickly became a meme coin sensation. By early 2024, the WIF token rose to the third position in market cap rankings among meme coins, behind the well-recognized leading duo — Dogecoin (

). As of May 7, 2024, WIF has amassed a market cap of $3.4 billion.

Compared to WIF, CWIF's market cap of $18.66 million looks exceedingly modest. However, it’s seen an impressive growth spurt within just one day.

Additionally, CWIF's exhaustive supply (measured in tens of trillions), active airdrop campaigns and extensive reach among meme coin enthusiasts ensure that the token is ahead of WIF by a mile when it comes to the sheer number of holders. According to some estimates, the unique number of WIF users was around 69,000 in mid-April 2024. On the other hand, the CWIF project claims to have a holder base of over 1.2 million.

The popularity of the cat with a hat meme has led to the launch of several (to be precise, four at the moment) tokens all sharing the same name, catwifhat, but using different capitalization styles and tickers — CatWifHat (CATWIF), CatwifHat (CIF), and catwifhat (CATHAT).

At least two of these, CATWIF and CATHAT, are recent entrants to the market and are likely attempts to piggyback off CWIF's popularity. The CIF token, despite being launched around the same time as CWIF, is also hardly a competitor to the latter; it has been embroiled in at least 

 events, and is far less popular than CWIF among meme coin enthusiasts.

A cursory look at the four tokens' typical trading volumes also speaks volumes, no pun intended, about their relative popularity. As measured on May 7, 2024, the 24-hour trading volume for CWIF stood at around $4.79 million, while CATWIF, CIF and CATHAT registered volumes of under half a million, around $15,000 and under $150, respectively.

The CWIF token is still not widely available on major 

 (JUP) and FluxBeam (FLUXB) — offer CWIF swap pairs. Currently, you can buy CWIF with Solana's native SOL token on FluxBeam, while Jupiter offers two cryptos for buying CWIF — SOL and 

The popularity of cat-themed meme coins is skyrocketing, and the CWIF token is at the forefront of this surge. While the token still features a relatively modest market cap, at least in comparison to the likes of Dogwifhat, Dogecoin and Shiba Inu, it has already amassed a highly impressive 1.2 million user base. Many of these have been attracted by the image of a cute cat sporting an adorable hat. Also, it wouldn't be a stretch to say that the token's unique 

 mechanism has lured a good chunk of this user base.

As CWIF transactions heat up, that 4% burn rate ensures that the token's supply decreases quickly, and with the decrease in supply comes the value of scarcity. Those who hold onto CWIF for a longer while might find themselves in possession of a truly scarce and valuable asset in the future — that is, of course, if the crypto community's obsession with cats stays strong.

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Catwifhat (CWIF): Sharing the Throne With Dogwifhat (WIF) on Solana

Bitcoin Outperformance Leads to the Popularity of Bitcoin Layer 2

Bitcoin trading volume as percentage of total trading volume on Bybit.Source: Bybit

There’s no denying that Bitcoin has been in the driver’s seat of the broader market rally since late September 2023, as evidenced by its ever-growing dominance. The Bitcoin dominance ratio was steady at approximately 40% in 2022, but began to climb in 2023 to a level of 51.1% (as of this writing on May 7, 2024). 

The outperformance of Bitcoin, propelled by the approval of Bitcoin Spot ETFs in the U.S., has led to the popularity of Bitcoin trading as evidenced by the trading volume on Bybit, whose data suggests that BTC held by users increased by 18% on a month-on-month basis from March 2024 to April 2024. Moreover, the average trading volume percentage of Bitcoin as of total trading volume on Bybit has increased from 25.6% to approximately 31.8% as of the time of this writing. In our view, the popularity of Bitcoin trading has fueled the popularity of Bitcoin Layer 2s.

There is no consensus over the definition of a Bitcoin Layer 2. The term generally refers to a network that has a close connection with Bitcoin, aiming to improve Bitcoin's scalability, reduce transaction costs and add 

 programmability to the oldest blockchain network. In this article, we define Bitcoin Layer 2 as a separate blockchain network that connects to Bitcoin, either through bridges or other designs. Such platforms directly built on the mainnet of Bitcoin are referred to as Bitcoin protocols, including 

For detailed information on Bitcoin Layer 2 definitions, please refer to 

Bitcoin Layer 2 is still at an early stage of development. Only a few projects worked on Layer 2 solutions for Bitcoin before they became popular in early 2024. Bitcoin Layer 2 solutions have come to the spotlight since the popularity of Ordinals and Stacks in Q4 2023. 

The shift of focus into Bitcoin also comes as Bitcoin continues to outperform Ethereum and other alternative 

 as of September 2023, when the industry started to see hopes of Bitcoin Spot ETF approvals. The approval of these Spot ETFs reduces regulatory risks facing the Bitcoin blockchain, which adds to its competitive advantage against Ethereum, whose own Spot ETF approvals are uncertain as of May 2024.

What’s more, against the backdrop of the successful implementation of Ethereum’s latest road map and the popularity of Ethereum Layer 2s, the Bitcoin community has begun to explore the possibility of more utility for Bitcoin with the help of rollups and sidechains, the Layer 2 solutions that have been battle-tested in the past few years of development with other Layer 1s such as Ethreum and Avalanche.

As Bitcoin continues to gain attention, let’s explore the existing landscape of Bitcoin Layer 2.

Who are the existing players in Bitcoin Layer 2?

, there are currently 74 Bitcoin Layer 2 solutions, most of which have come into being in the past two quarters. Despite such a competitive sector, Bitcoin Layer 2s can generally be categorized based on the technology that each player adopts. In short, there are 

: state channels, sidechains and rollups. We’ll also cover Bitcoin-related protocols.

Bitcoin Layer 2 landscape. Source: Compiled by Bybit

A state channel provides a solution for enhancing scalability and efficiency in cryptocurrency transactions. These networks establish separate channels between transacting parties, enabling off-chain communication and state updates. A new channel is created between the parties involved in a transaction, serving as a communication layer that allows the parties to exchange information and update the state of their wallets off the main blockchain. State changes such as balance variations are recorded within the channel itself.

Once the communication session is complete, the channel is closed, and the final state, including the updated wallet balances, is submitted to the Bitcoin mainnet as a single transaction. Bitcoin miners then verify and incorporate this transaction, updating the network's state accordingly.

, which has been around since 2016 and endorsed by reputable Web 2.0 players, including Block’s Jack Dorsey. Major CEXs have also adopted the Lightning Network to reduce the transaction costs for users. 

State Channel Advantages and Disadvantages.Source: Compiled by Bybit

State channels offer several advantages. They enable faster transactions, since parties don’t need to wait for block confirmations on the main blockchain. Additionally, by batching multiple transactions into a single submission, users can save on transaction fees, especially when conducting multiple transactions within a single session. 

As highlighted in the above chart, in addition to the inherent security risk, Lightning Network’s capacity limitation prevents its mass adoption. Its capacity stands at 

 as of the time of writing, which is a minuscule fraction of Bitcoin’s daily transactions on centralized exchanges. 

Furthermore, the state channel is used for token exchange, which (due to the lack of a virtual machine) doesn’t have 

, a project that tries to add smart contract ability to Bitcoin by working with Lightning Network. Its team calls it a “partial-state smart-contract system” and offers the novel promise of addressing the inherent limitations of state channels. Yet, at the moment, we haven't seen the adoption of RGB's solution by major crypto primitives. That said, we’re excited to see how RGB might transform the state channel solution and provide a novel alternative to the more popular sidechains or rollup solutions. 

On a separate note, both Lightning Network and RGB don’t have their own native tokens, and thus, retail users likely won't invest in these two solutions in the near future.

A sidechain is an independent network that operates its own consensus algorithm while maintaining communication with the main network. 

To establish connectivity with the main network, sidechains employ bridges that facilitate asset transfers between the two networks. Smart contracts play a crucial role in governing the locking and minting of assets, ensuring proper asset movement between the sidechain and the mainnet. The design of sidechains can vary significantly, with some operating their own security systems separate from the mainnet while others integrate the security features of the main network.

The more established players in this field include Stacks, Liquid Network and Rootstock for Bitcoin’s sidechain solutions, while BEVM, Bouncebit, ANVM and Map Protocol, among others, are rising stars.

Bitcoin sidechain solutions.Source: Compiled by Bybit via DefiLlama and BTCL2.INFO

There are variations among these sidechains. Generally speaking, new solutions offer more comprehensive solutions, such as more advanced and Ethereum-compatible virtual machines, while the old players, such as Liquid Network, don’t own virtual machines. What’s more, some solutions introduce native tokens such as Stacks, while some adopt Bitcoin as gas tokens, such as Rootstock and 

. The adoption of a solution that’s more closely linked with Bitcoin is considered to provide greater security. 

It’s interesting to note that the new project AILayer currently sits with the highest TVL among all sidechain solutions, possibly due to anticipation around its airdrop and excitement regarding artificial intelligence (AI).

Rollups serve as an execution layer that works in conjunction with the Bitcoin network's consensus layer. Their main purpose is to enhance transaction processing. Rollup Layer 2 networks create an environment in which users can perform various operations. Transactions are organized into batches and sent to the mainnet's consensus layer for final settlement. A rollup batch can include up to 10,000 transactions, which are submitted as a single transaction to the mainnet's consensus layer for settlement. This bundling of transactions allows Layer 2 rollup networks to achieve faster speeds and reduced fees.

: optimistic rollups and zero-knowledge rollups. Optimistic rollups batch transactions without initial validation. However, there is a challenge period of approximately seven days to address security concerns. During this period, anyone can raise suspicions and provide proof of fraud to contest the rollup transaction. Once the challenge period expires, the batch is considered valid and is accepted on the Layer 1 chain.

Zero-knowledge rollups (ZK-rollups) conduct preliminary validations on each transaction using zero-knowledge validity proofs, eliminating the need for a challenge period. Consequently, transactions from ZK-rollups are instantly hashed onto the mainnet.

Bitcoin Layer 2 rollup solutions. Source: compiled by Bybit 

Ethereum’s ecosystem has been implementing both optimistic rollups and zero-knowledge rollups (ZK rollups) for a few years. Bitcoin’s Layer 2s benefit from the development, and there’s been a migration of those advanced Layer 2 technologies to the Bitcoin ecosystem.

It’s clear that ZK-rollups are more popular on BItcoin Layer 2s at the moment, likely due to their lower cost per transaction since there’s less data stored in each batch. Merlin Chain is so far the leader in this league with $1.1 billion TVL, staying ahead of its competitors following the launch of its mainnet and native token, MERL. Merlin Chain has the first-mover advantage, as a dozen DApps within the vibrant community have been up and running.

Network owns the second-largest TVL for Bitcoin’s ZK-rollup solutions, although as of May 2024, it’s only launched a testnet. We might see further inflows into the network as its airdrop plan and mainnet launch send the project buzzling.

Tuna Chain boasts dual architecture and a hybrid infrastructure of optimistic and ZK-rollups, setting itself apart from its competitors. As the first modular Layer 2 for Bitcoin, it has adopted Celestia’s data availability solution and plans to launch its own stablecoin in the second half of 2024. We haven't seen such a dual structure in the Ethereum ecosystem, so it’s interesting to observe how it pushes the limit of the two mainstream rollup solutions.

As mentioned, Bitcoin-related protocols, including Mirror, Runes and Ordinals, don’t have their own blockchain networks. Instead, they’re 

 to the Layer 1 network, i.e., the Bitcoin mainnet. 

 L2 staking protocol offers BTC staking solutions to other Layer 2s with its Mirrored Bitcoin (mBTC). 

 the centralized BTC staking that wBTC offers by decentralizing its overlapping multisig mechanism. 

 is a unique system of ordering satoshis, the smallest units of Bitcoin, allowing the creation of Bitcoin NFTs. Users can inscribe data, such as text or images, as a digital artifact onto an individual satoshi. This process creates Bitcoin-native digital artifacts (also known as Bitcoin NFTs) that can be stored, transferred and traded on the Bitcoin blockchain. 

 created by the same team that developed Ordinals, addresses the issue of congestion resulting from the inefficiency of the BRC-20 token standard within Ordinals using Bitcoin’s native UTXO transaction model.

All three of the solutions above aim to enhance the throughput of Bitcoin, while sidechains and rollups can help add smart contract ability to the Bitcoin ecosystem. As observed from the Ethereum Layer 2 evolution, rollups are a more advanced technology than sidechains, since we don’t see new projects using sidechain architecture. Essentially, sidechains are separate blockchains — and, technically speaking, all alternative Layer 1s can become sidechains as long as they enable the transfer of assets in and out of Bitcoin.

Advanced

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Bitcoin Layer 2 Report: Bitcoin Layer 2s Set to Boom as Bitcoin Continues to Outperform

Exverse is a free-to-play gaming metaverse built on a blockchain system. It lets players enjoy first-person shooter games while earning valuable crypto tokens.

In the past few years, there’s been an explosion in 

 gameplay systems, and there are now thousands of 

 games in the gaming industry. A new gaming universe, 

 hopes to stand out from the crowd and attract users with its unusually simple system. Can 

 achieve its goal of creating a game that's both fun and easy to play? Keep reading to learn how the 

 universe works, and discover how to profit off of the 

 built on a blockchain system. This free-to-play game lets players enjoy first-person shooter games while earning valuable crypto tokens.

. Co-founder Nikita Uriupin worked primarily in NFTs, while CEO Ooi Fei Hoong had past experience working on other web3 startups. Uriupin and Hoong discovered their shared interest in the cutting-edge web3 gaming industry, and decided to launch a company where they could explore their own gaming ideas. The two were joined by experienced developer Nikita Kuznetsov, Unreal Engine expert Dmitry Bychkov and former Playsense Art Director Alex Dashkevich.

 is simplicity. Its founders noticed that many novel gameplay systems had great ideas, but were too confusing for new users to play. People would have to set up a lot of blockchain features such as 

 wallets before they could start playing, so they'd get bored and leave the system. 

 aims to destroy these barriers to gameplay. By creating a simple yet immersive gaming experience, the 

, whose software powers the game and generates characters and movements that look as realistic as possible. In addition to Unreal Engine, 

 employs technology from the Ethereum blockchain. This cryptocurrency system allows 

 to give players full ownership over in-game assets, such as tokens and NFTs.

 functions on a free-to-play model. Users don’t have to purchase a game copy or pay for a subscription before they start exploring the metaverse. Instead, the AI-powered free game generates its funds through transaction fees. This monetization method takes a certain percentage off of each sale to compensate the 

There are many reasons to get involved in the 

 universe, which offers players a variety of fun features.

 has three distinct planets where gaming takes place. The 

 features PvP play with Battle Royale fights. On the 

, players group up to take part in missions, raids and other seasonal events. The immersive gaming experience also includes a 

, where players can meet other players, participate in community events and join guilds. 

No matter which of the three distinct planets you're on, you can earn experience that you use to level up your playing character. This allows you to access exciting new weapons, skins and other types of player equipment.

Clans consist of a leader who stakes EXVG in order to run a clan. Members of the clan get to wear the clan banner, and work to improve their ranking. Being in a clan makes it easier to get rewards, and there are some clan-exclusive perks, such as special missions and matches.

 hopes to create a flourishing esports community by hosting tournaments. Skilled players can compete in these games for the chance to win impressive prizes. 

, with a $50,000 prize pool over the course of five days, and has plans to host more competitions in the future.

 has a dedicated anti-cheat system to prevent people from taking advantage of its play-to-earn mechanics. It uses the 

 service to protect the game from hacks, false positives and other cheats that make gameplay less fun for other players.

The in-game marketplace is a fun way for players to connect with each other and obtain valuable in-game items. It allows player-to-player sales for things like NFTs, and will also let players buy season passes and exclusive content directly from 

. The team has already successfully designed its game concept, launched its website, designed its game art and acquired several helpful funding partners. Currently, 

 is focused on launching its novel gameplay system with an early-access tournament. 

Next, it hopes to test its system further with a public testnet and begin generating funds with NFT sales. In the future, 

 plans to expand its novel gameplay systems further. By 2024, it hopes that the 

 universe encompasses social interactions, quest planets and a full launch of the public mainnet.

This essential gameplay mechanic allows both players and the 

 team to earn money. It consists of two separate tokens, each with its own specific use cases.

 is the in-game currency. It can’t be bought or sold through the in-game marketplace; you earn it directly as loot from enemies, and it's used to perform in-game actions, such as repairing your skin or upgrading your player profile.

 is the main ecosystem token that’s used in both the in-game marketplace and the rest of the crypto community. Players can earn it by competing in tournaments and selling in-game assets. They can then use EXVG to purchase a variety of equipment and perks, or sell it on the open market in exchange for other crypto tokens.

, EXVG is used for everything from purchasing items to voting in the 

EXVG tokens first hit the market near the end of April 2024. After initially retailing for approximately $0.11, the token’s price dropped to about $0.07, reaching its ATL on Apr 30, 2024. Despite this initial setback, EXVG has seen an increase in price to its ATH of $0.1505 on May 5, 2024, and its current price is $0.1114 as of May 8, 2024. 

There’s generally a lot of positive buzz about EXVG on social media, so some investors are expecting big things from 

 DigitalCoinPrice predicts that EXVG will reach $0.27 by the end of 2024, and continue to rise to $0.91 by 2030. CoinCu is 

, with a prediction of $5.56 by the end of 2024, surging to $20.40 by 2030.

 tokens? Bybit now offers the EXVG/USDT Spot trading pair. To get started, you’ll first need to 

, fund it with cryptocurrency and navigate to the 

 gameplay systems have a lot of features that web3 gamers are demanding right now. Options such as free-to-play modes, wallet-free gameplay and graphics built on Unreal Engine 5 may help this project take off. However, smart crypto investors should avoid getting swept away by online enthusiasm. 

Though this project may do well, it has some stiff competition, and still hasn't proven it can build a solid user base. Ultimately, EXVG might be a good choice for crypto investors interested in brand new web3 gaming industry tokens, but it's still important to 

 universe encompasses all the latest trends in the gaming industry. Its play-to-earn mechanics and FPS-style combat will appeal to many users, and the 

 universe is uniquely playable and easy to understand. It still has a long way to go before it's the top web3 game, but savvy investors may want to consider the 

Intermediate

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Exverse (EXVG): A P2E Game With AAA Web3 and AI Integration

Bybit Learn

GameFi

OpenBlox's ecosystem consists of the hottest Web 3.0 apps and GameFi titles, find out why their BloxVerse and OBX tokens deserve your attention.

OBX_tokenomics.png

 to the crypto scene has certainly been eventful. Ever since 

 first exploded onto the scene with its fun gameplay and engaging play-to-earn mechanics, the gaming movement took off as more teams sought to capitalize on the trend of gamifying crypto. This effectively lowered the barrier to entry and made crypto more accessible for mass adoption. All things considered, that’s why it’s unsurprising to see innovative projects like OpenBlox hop onto the GameFi scene in hopes of revolutionizing the way we view play-to-warn games.

Curious as to how this ambitious GameFi project intends to distinguish itself from the pack? Read on, as we cover everything you’ll need to know about OpenBlox, the BloxVerse ecosystem and its intention to merge various apps and games on one convenient platform.

If you’ve been playing video games for years, you’ll certainly understand the pain that comes with your in-game assets and equipment instantly losing their value and vanishing into thin air when developers cease work on their games and shut down their servers. It’s ultimately this problem that compelled the OpenBlox team to pursue blockchain integration. Want to know why OpenBlox has us excited? Here’s what we know about its existing games and apps.

Bloxes are collectible ERC-721 NFTs that act as the main characters of OpenBlox. With each game, Bloxes take center stage and act as the player’s avatar. From battling enemies in RogueBlox to getting a workout done in RunBlox, players will want Blox NFTs with the best attributes to guarantee success and increase their odds of excelling in OpenBlox. Winning nets you more OBX tokens and in-game tokens, which can be used to breed more Blox NFTs and Shoe NFTs and improve their overall stats so they get more powerful over time.

OBX tokens act as the main platform token of OpenBlox

 featuring a ton of utility. On top of their use across multiple games, here are some ways users can utilize OBX tokens:

Given this much OBX token utility, the OpenBlox team hopes to create a deflationary effect so users will discover the value of holding their tokens in the long run.

Interested in learning more about OBX’s overall tokenomics? In total, there’s a maximum supply of ten billion OBX tokens. While this large supply might spark fears and worries of inflationary pressures when it comes to the value of OBX tokens, the OpenBlox team has this aspect covered with the way OBX tokens can be used. 

One such utility of OBX tokens is their necessity when users want to breed new Blox NFTs and RunBlox Shoe NFTs. By charging an OBX token breeding fee for each NFT, the team will generate a sizable community treasury that can either be used to burn OBX tokens, or for future feature implementations and improvements.

All in all, we’re confident that OBX tokens are a good investment for the long haul as the OpenBlox team launches more Web 3.0 apps and play-to-earn games that will scale up their BloxVerse ecosystem. This confers on OpenBlox the freedom to explore all kinds of unique and fun genres, and allows players to easily try out these games and apps if they’re interested in their premises. Ultimately, it’s this convenience of having fun games and apps within arm’s reach for players that makes OpenBox such an exciting project. We remain bullish for the future prospects of OpenBlox and OBX tokens as the OpenBlox team bolsters their ecosystem, while continually improving their existing apps and games.

OpenBlox (OBX): Exploring GameFi in the BloxVerse Ecosystem

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards