The Global Dollar Network, launched by leaders in fintech and digital assets including Anchorage Digital, Bullish, Kraken, Nuvei, Paxos, and Robinhood, aims to accelerate global stablecoin adoption. 

Daily Top Performer — Mask Network (MASK)

The S&P 500 fell 0.28% as investors anticipated the U.S. election and a likely 25-basis-point Fed rate cut, with major tech stocks like Tesla and Amazon leading the decline. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 1.94%, with Bitcoin and Ether dropping by 2.39% and 3.87%, respectively in the past 24 hours.

Today’s top performer is MASK, which surged 8.0% following Mask Network’s unveiling of a revamped website with enhanced features and tutorials.

Mask Network, founded in 2017, is a protocol that bridges Web 2.0 and web3, enabling users on platforms like Twitter and Facebook to access web3 features, including crypto and NFTs. It supports multiple blockchain networks, such as Ethereum, BNB Chain, Polygon, and Solana, making it chain-agnostic. Mask Network 

 an update to its website, featuring a new layout that highlights product features and a revamped tutorial page.

Check Out the Latest Prices, Charts, and Data of 

, launched by leaders in fintech and digital assets including Anchorage Digital, Bullish, Kraken, Nuvei, Paxos, and Robinhood, aims to accelerate global stablecoin adoption. The network introduces USDG, a new stablecoin issued by Paxos, compliant with Singapore’s Monetary Authority framework. It seeks to address shortcomings in current stablecoins by providing trusted, low-cost options for enterprises while rewarding network participants. The initiative encourages collaboration among custodians, exchanges, and financial institutions to innovate in global money movement. USDG is now available through various partners, with DBS Bank managing its reserves.

Yesterday, Bitcoin spot ETF flows totaled -$579.5 million, with the Grayscale Bitcoin Trust (GBTC) accounting for -$63.7 million and non-GBTC products comprising -$515.8 million.

 opens on November 7th, with a current pre-market price of $0.04. For claiming, users can visit the provided link: 

Beginner

2.png

Global Dollar Network Launched to Boost Stablecoin Adoption with New USDG Stablecoin

Web3 gaming is a multibillion dollar industry with millions of players worldwide. Its games come in a variety of styles. Learn more here.

 has transformed its role from that of a cutting-edge financial investment to become a part of everyday life. While 

 concepts are used for a multitude of practical services, they're also a fantastic source of entertainment. Gaming is currently one of the biggest applications of web3 design. By adding blockchain features to gaming experiences, developers have been able to make games even more exciting and meaningful. Explore this guide to see why web3 gaming is so popular. 

Web3 gaming is a multibillion dollar industry with millions of players across the globe. Its games come in a variety of styles, ranging from first-person shooters to puzzle games. The main commonality among all of these games is the use of blockchain technology, such as in-game cryptos and 

“Web3 gaming” might sound pretty high-tech, but it's actually surprisingly simple. Web3 games are just standard games that incorporate blockchain technology into their designs. 

The majority of web3 games rely on two basic structures: half of each game is a standard video design that uses coding, software and hardware to create a system in which users input instructions and receive a gaming experience. The component that differentiates web3 gaming from other gaming is that of its blockchain technology. While designing their games, web3 developers also connect their systems to a blockchain, setting up multiple 

 that trigger when certain in-game actions occur. This design allows web3 games to include all sorts of blockchain mechanics. The following are a few examples:

Web3 gaming is an incredibly broad industry. Some web3 games are simple mobile apps where you tap a single button, while others are complex worlds that require hours of practice to understand. To get a good understanding of the web3 gaming landscape, it's useful to take a look at some of the most common types of games.

 gaming or DeFi gaming, investment gaming emerged as the first generation of web3 games, essentially a gamified version of standard crypto investment, with features such as 

 focus primarily on making money, but they use a game-based interface to make the process more entertaining.

 or P2E games) gamify standard behaviors. Users might tap a button or take a walk in real life, and then their action mines cryptocurrency that’s directly deposited in the player's wallet. Ever since the earliest 

, this has been one of the most popular forms of web3 gaming.

The modern generation of web3 game development is moving away from repetitive, crypto-focused designs and instead attempting to copy strategies from the traditional gaming industry. Competition-based games involve players battling each other. Though players can earn digital assets, the main goal is simply to compete with each other. Game options like 

 mimic first-person shooter competitions, while styles such as 

 gaming. This style of gaming prioritizes socializing with other gamers and building a community. Options like 

 create complex worlds in which players can create a character to role-play and interact with other characters.

The unique technology behind web3 gaming allows this industry to offer players key features they can't find anywhere else. Depending upon the game you choose, you may be able to enjoy many different fantastic game components.

For many players, the big appeal of web3 gaming is that digital assets have actual value. Using blockchain technology for in-game currency and items allows players to trade their assets both within and outside of the game. This allows the market to assign their assets a value, and players can choose to convert their items into other types of currency if they wish to.

Multiple games in the web3 space operate under the principle of decentralization. Instead of having one company run the entire system, the game is run as a collective of players and developers. Blockchain technology allows players to vote on various decisions, such as what mechanics to add to the game or what the price of an object should be. 

The majority of web3 games emphasize player ownership of in-game items. Users have direct control over the things they earn and create within the game. Not only can players buy and sell their possessions as they wish, but they can choose how to use or upgrade their digital assets.

Virtual Reality and Artificial Intelligence

Web 2.0 gaming is at the forefront of gaming design. Though virtual reality, augmented reality and artificial intelligence technology aren’t a requirement for web3 gaming, they’re far more common within the gaming sector. Many games hope to use these technologies to offer the most immersive and detailed experiences possible.

All the unique features of web3 gaming make it a particularly useful type of gaming universe. Compared to traditional games, web3 games have many special advantages.

Blockchain technology is a highly useful tool for game developers. For example, it makes it a lot simpler to manage things like player rewards and land generation, giving developers more options when designing their games. Web3 gaming systems also have the ability to run online, seamlessly interacting with a variety of 

 products and blockchain tools. Ultimately, this means that the web3 gaming community has some truly unique games that couldn't flourish with standard technology. 

Web3 ecosystems streamline the process of making a profit from games. Since it's so easy to transfer and trade assets, players can more easily convert their gaming skills into cash. Not every player may make millions, but web3 games come with many opportunities to earn money.

Since web3 games often run on principles of decentralization and transparency, they're often an ideal way to safeguard players' rights. Players usually retain control of their own data and don't have to worry about their hard-earned assets being taken away from them. Furthermore, web3 games typically value and respect the input of their communities. Blockchain technology makes it easy to ensure that community members are involved in every step of game production.

Web3 games are known for their capability to offer an immersive and seamless gaming experience. In-game transactions and crafting are directly linked to real blockchain assets, so gamers can feel particularly connected to their games. Instead of having all gaming experiences take place within a specific program, gaming experiences have real-world ramifications that can be explored through multiple blockchains and online communities. 

Though web3 gaming has many benefits, it's not always a perfect ecosystem. Here are some of the issues that web3 gamers may encounter. 

Web3 games operate with some nontraditional technology, so they can be quite confusing. Instead of simply downloading an app or launching a website, users might need to do things like 

. This adds an extra layer of complexity that may make it hard for web3 games to onboard new users.

While web3 games have the potential to offer an immersive experience, it's not a requirement. The focus on investing and profitability has led to some criticism from the gaming community. There are quite a few projects designed simply to make money, and these often struggle to engage players. Many gamers complain about web3 games with overly repetitive mechanics, cheap artwork or bland storylines. It can take some time for gamers to sort through the vast amount of web3 projects and find games that are fun to play for hours at a time. 

Both web3 gaming and traditional gaming hope to appeal to the same user base. Both styles of gaming endeavor to entertain people by appealing to their competitive and creative instincts. There’s quite a bit of overlap in the styles of games being released, and the same developers and gaming studios are working in both traditional and DeFi spaces.

However, unlike traditional games, web3 games can take advantage of newer technology. This style of gaming offers many unique aspects not found in traditional games:

Web3 gaming is still a fairly new industry, with many changes ahead. Currently, the big trend in web3 gaming is 

 models. However, online discussions suggest that users may be shifting away from simpler games. There's been a growing demand for more complex games that mimic the depth and creativity of AAA games. 

 with endless possibilities for fighting, crafting, exploring and more. In the future, web3 games may begin to prioritize entertainment and engagement over investment opportunities. You can expect to see fewer games with DeFi tie-ins, and more games that try to mimic the appeal of games like 

Web3 gaming is poised to become one of the biggest blockchain industries. 

 by 2030. With so much potential profit, web3 gaming is certainly worth exploring. Both amateur traders and professionals have the chance to earn money through different games in web3 spaces.

However, keep in mind that the days of earning thousands of dollars just by tinkering around with a new GameFi product are most likely over. With so many products on the market now, it's much harder for players to earn money by tapping a few buttons. Instead, the big investment opportunities are more likely to come from supporting the products themselves. While you might be able to make a little money by playing a game, purchasing a new game's crypto and watching it grow is likely to be a more efficient and profitable use of your time.

Web3 gaming's capacity to combine entertaining game mechanics with profitable blockchain technology has helped this industry soar. Not only are blockchain games currently worth billions of dollars, but they're also poised to capture more players than traditional online games. Investors who want to be on the cutting edge of web3 trends would certainly do well to pay close attention to web3 gaming.

Intermediate

web3 gaming.png

Web3 Gaming: Elevating Play to Next-Level Realities

Inverse perpetual contracts offer traders a unique way to speculate on the price movements of cryptocurrencies and are denominated in the base currency, such as BTC.

Inverse perpetual contracts offer crypto traders a unique way to speculate on the price movements of cryptocurrencies without holding the underlying asset in 

, such as USDT and USDC. These contracts are denominated in the base currency (for example, BTC) and allow traders to engage in futures markets with leveraged positions.

Currently, perpetual futures dominate the crypto derivatives market. 

 to CoinGlass, on October 31, 2024, Bitcoin’s perpetual trading volume was $18.2 billion, far exceeding the 

Inverse perpetual contracts are a type of futures contract used in crypto derivatives markets. They differ from traditional futures contracts, which often require fiat or stablecoin collateral. Inverse perpetual contracts are denominated and settled in a base cryptocurrency, such as Bitcoin (BTC) or Ether ETH). This unique structure allows crypto traders to speculate on the price of a cryptocurrency without using a stablecoin such as USDT as collateral.

For instance, a trader using an inverse BTCUSD perpetual contract can speculate on Bitcoin’s price in USD (U.S. dollars) while collateralizing their position in BTC. If the trade is profitable, the gains are paid out in Bitcoin, meaning traders can increase their Bitcoin holdings directly. 

, and allows traders to use Bitcoin and altcoins as the base currency. 

Why Crypto Traders Use Inverse Perpetual Futures Contracts

Crypto traders prefer inverse perpetual contracts for several reasons:

Inverse perpetual contracts function as a type of futures contract without an expiration date. Unlike linear futures, inverse perpetuals don’t need to be rolled over, allowing traders to hold positions indefinitely. Below, the key elements in the operation of these contracts are defined.

Key Components of Inverse Perpetual Contracts

Inverse perpetual contracts also feature an inverse pricing mechanism. For example, in a BTCUSD inverse contract, as the BTC price rises in terms of USD, fewer BTC are required to meet the contract's notional value, impacting profit-and-loss dynamics.

Key Differences Between Inverse Perpetual and Linear Perpetual Contracts

Inverse perpetual contracts differ from linear perpetual contracts in both their structure and settlement mechanisms. Below is a quick comparison:

How to Trade Inverse Perpetual Contracts on Bybit

Bybit currently supports nine (9) inverse perpetual contracts, and boasts a daily trading volume of almost $1 billion. Its exchange offers competitive fees starting at 

Bybit provides an easy-to-navigate platform for trading inverse perpetual contracts. Here’s a step-by-step guide to get started:

 for specific contract details and trading tools.

How to Calculate Profit & Loss for Inverse Perpetual Contracts

 is straightforward, but differs from the method for linear contracts. Take note of the following variables:

For long positions, P&L is calculated as follows:

For example, you buy 100 Q (for the BTCUSD pair) at an average price (E) of $10,000, and sell at $12,000 (L). 

Profit = 100 × [(1/10,000) − (1/12,000)]

For short positions, P&L is calculated as follows:

If you buy 100 Q (for the BTCUSD pair) at an average price (E) of $10,000 and sell at $8,000 (L), the P&L is calculated as follows:

Risk Exposure of Inverse Perpetual Contracts

Following are some risks associated with trading inverse crypto perpetual contracts.

Conclusion: Getting Started with Inverse Perpetual Futures

Bybit's inverse perpetual futures platform offers high liquidity and advanced trading tools for cryptocurrency derivatives. Our user-friendly interface supports efficient position management and competitive fees. However, traders must understand that these instruments carry substantial risks, including potential loss of capital through liquidation and market volatility.

 is crucial. Use stop losses and avoid over-leveraging positions. Start with small position sizes, and maintain adequate margin buffers. Never risk more than you can afford to lose. You can practice your strategies on 

 without financial risk, giving you a hands-on way to learn the platform’s features and market dynamics.

inverse perpetuals.png

How to Trade Inverse Perpetual Futures on Bybit

Sonic, a layer-2 blockchain on Solana, has surpassed $50 million in staked delegation on the Solayer platform, marking it as the largest delegated Actively Validated Service (AVS) on Solayer.

Daily Top Performer — Arkham Intelligence (ARKM)

The S&P 500 futures rose 0.3% on Monday, recovering from last week's losses as investors focused on the U.S. presidential election and the Federal Reserve's policy decision. The Reserve Bank of Australia is expected to keep the cash rate steady at 4.35%, with inflation indicators showing an increase. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 0.58%, with Bitcoin and Ether rising by 0.58% and 0.76%, respectively in the past 24 hours.

Today's top performer is ARKM, which surged 8.3% after QuillAI Network enhanced QuillCheck with Arkham Analytics to improve asset security in Web3.

Arkham Intelligence (ARKM), founded on 2020, one of the top-performing meme coins in March 2024, is a crypto intelligence platform that uses advanced techniques to link blockchain transactions to real-world identities, enhancing transparency and efficiency in the market. QuillAI Network has 

 Arkham's on-chain analytics into QuillCheck, its token due diligence AI agent. This enhancement allows QuillCheck to analyze token holder activity, community size, liquidity, and specific wallets, providing Web3 users with improved asset security and smarter trading insights.

Sonic, a layer-2 blockchain on Solana, has surpassed $50 million in 

 on the Solayer platform, marking it as the largest delegated Actively Validated Service (AVS) on Solayer. To enhance the Solana restaking ecosystem, Sonic has partnered with Solayer and Adrastea, aiming to boost rewards for Solana delegators. Sonic's CEO, Chris Zhu, highlighted the milestone as evidence of the growing sophistication of Solana's decentralized services. Analysts predict significant growth for Solana's restaking and liquid staking solutions, potentially rivaling Ethereum's established market. Currently, Solana's liquid staking has a total value locked (TVL) of $5.9 billion.

Between October 28 and November 1, 2024, Bitcoin Spot ETFs saw strong inflows, particularly in Non-GBTC funds, which attracted $2,274.1 million, while GBTC experienced outflows totaling $53.9 million, resulting in a net inflow of $2,220.2 million across all funds. This trend highlights a notable preference for Non-GBTC ETFs. Cumulatively, GBTC's total flows stand at a negative $20,116 million, whereas Non-GBTC funds have accumulated $44,342 million, bringing the overall total to $24,226 million.

 on Galxe will have a snapshot on November 6th, so participants must hold at least 1 USD0 token by that date. To obtain USD0, users can visit the Usual app, click "Mint USD0," select a supported token, and use the early access code 477GP. The TGE and airdrop are tentatively scheduled for mid-November, promising exciting developments for the community. For more details, check the Galxe campaign 

Sonic SVM Hits $50M in Staked Delegation, Partners for Restaking Growth

web3

Explainers

ERC-5169 is an Ethereum token standard that facilitates the creation of tokens with embedded scripts that contain executable programming logic.

2401-T16454_Skinny_Banner_for_Blog_and_Learn_Row_53_728x90.png

Skinny_Banner-1600x400.webp

The year 2015 witnessed a true revolution in the blockchain industry when 

 they’re based on, DApps introduced the capability to execute programming logic directly on the 

. Over the following few years, Ethereum’s platform continued to drive innovation by unveiling a succession of crypto token standards.

The foundational ERC-20 standard, which underpins DApp functionality, was formally endorsed in 2017. That same year, the platform announced another game-changing innovation — the ERC-721 

 (NFT) standard. Two years later, the ERC-1155 multi-token standard was introduced on the blockchain by the 

 (ENJ) gaming platform. These advancements in token standards and their underlying technologies continue to support the functionality of the world's largest smart contract chain.

Ethereum’s dedication to token standard innovations hasn’t diminished. In 2023, a new standard — ERC-5169 — was adopted specifically to support smart tokens. The ERC-5169 token has executable scripts and programming logic embedded within it. Its potential to completely change the way Ethereum tokens and DApps are used could lead it to emerge as a key bridge between the worlds of 

ERC-5169 is an Ethereum standard for the development of tokens that include embedded executable scripts. 

The script code within an ERC-5169 token turns it into a truly “smart token.” Such tokens are capable of executing complex actions, such as interacting with external platforms and devices, or carrying out rule-based operations which were previously only possible via the use of smart contracts.

The ERC-5169 token standard was first proposed in May 2022 by Smart Token Labs, an Australian blockchain technology startup founded in 2017. Smart Token Labs has also introduced a couple of associated technologies — the TokenScript development framework and the Smart Layer distributed network — to facilitate the launch and management of smart tokens.

ERC-5169 is a unique token standard because it represents the first proposal in the history of Ethereum — or the entire blockchain industry, for that matter — to attach executable code to a single token. The standard has the potential to drastically alter the way that entire ecosystems of DApps, smart contracts and blockchain crypto tokens are utilized. That’s because ERC-5169 essentially enables tokens to act as self-contained mini DApps, without the need for smart contract–based apps we’re accustomed to.

Thanks to the executable programming logic attached to individual ERC-5169 tokens, the standard can be used to create crypto assets that can interact not only with other tokens and blockchain platforms, but also with external Web 2.0 websites, devices and products.

ERC-5169 can also facilitate the development of dynamic and complex crypto tokens, such as dynamic NFTs. While such NFTs currently utilize smart contracts for their functionality, the ERC-5169 standard makes it possible to embed the entire code responsible for dynamic changes into a token. This lets an NFT travel across different platforms that might not be compatible with each other, while still retaining all of its dynamic properties.

How Does the ERC-5169 Token Standard Work?

The ERC-5169 standard adds a new function, 

, to the token’s smart contract — the piece of code on the blockchain that allows you to issue and manage the token. This scriptURI() function contains a reference to an executable code that the ERC-5160 token can include. In this way, the token becomes a self-contained asset with embedded programming logic — essentially a mini-DApp.

The standard’s creator, Smart Token Labs, also offers two critical technologies that allow ERC-5169 tokens to interact with external web3 and Web 2.0 environments — TokenScript and Smart Layer.

TokenScript is a code framework that provides tools to create a front-end interface and functionality for external apps and programs to interact with ERC-5169 tokens. While the actual token contains the necessary code and programming logic, TokenScript translates these into usable functions and interfaces, adjusted for the app that utilizes the token. In essence, TokenScript is a middle layer between the end-user and the ERC-5169 token they interact with.

As a connecting layer between users and ERC-5169 tokens, TokenScript also provides additional functions to extend and modify how users interact with their tokens.

The fundamental goal behind the introduction of TokenScript is to facilitate the use of ERC-5169 assets on different platforms.

Smart Layer is another technology designed to expand the adoption of ERC-5169 tokens by external platforms. Essentially it’s a distributed set of 

 that monitor and process smart token interactions with various environments — Web 2.0 platforms, blockchain-based smart contracts, mobile apps and more. Along with TokenScript, it can be used to set up smart layer tokens that conform to ERC-5169 specifications.

Smart Layer isn’t a blockchain by itself. Instead, it’s a layer of distributed nodes that acts as a connecting medium between blockchains and external platforms, such as websites or mobile apps. While TokenScript facilitates user interfaces and interactions with underlying ERC-5169 tokens, Smart Layer serves as a core processing hub, enabling seamless communication between tokens and external platforms.

As an alternative to blockchain-based smart contracts, the ERC-5169 standard presents virtually limitless opportunities within blockchain environments as well as at the intersection of blockchain and Web 2.0. Some of the major use cases for the standard include the following.

As the ERC-5169 standard is still fairly new, most of its actual applications started to emerge only in late 2023 to early 2024. Perhaps the most well-known and publicized project that makes use of ERC-5169 tokens is the 

 (POL), a collection of dynamic NFTs with a complete game embedded in each token. Owning a Smart Cat enables you to participate in a game where you care for your digital pet by grooming, feeding and cleaning it. 

You can also interact with other Smart Cat owners — and take your pet on play dates with theirs!

 game are of the xNFT (executable NFT) type, a variation of NFTs made possible thanks to the ERC-5169 standard. As of February 2024, Smart Cats remains the most popular application of the ERC-5169 technology in the blockchain world. Nevertheless, as this technology is relatively young, expect more practical use cases and applications to emerge throughout the year.

ERC-5169 is among the latest token standards to drive innovation on Ethereum. As it becomes more popular, it’s inevitable that it will be compared to other token standards utilized on the chain. The three most commonly used among these are ERC-20, ERC-721 and ERC-1155.

 is the leading Ethereum standard for creating fungible cryptocurrencies, and has been instrumental in the growth of Ethereum DApps. First introduced in 2015, ERC-20 was formally adopted by Ethereum’s blockchain in 2017.

While ERC-5169 is largely designed for unique, non-fungible tokens, the ERC-20 standard is applicable strictly to fungible crypto assets.

ERC-721 is Ethereum’s primary standard for NFTs, crypto assets that feature non-fungibility (i.e., uniqueness) as a key property. It was introduced in 2017, quickly leading to an explosion in the popularity of Ethereum-based NFTs.

Similar to ERC-721, the ERC-5169 standard is primarily used for distinct, non-fungible tokens. However, ERC-721 NFTs are typically static, rely on on-chain smart contracts for their functionality, and don’t feature any of the embedded scripts or executable logic found in ERC-5169 NFTs.

 Ethereum standard can be used for creating both fungible and non-fungible crypto tokens via the same smart contract. It’s widely used by applications that need to have dual-mode (fungible and non-fungible) functionality within the same environment or for the same operational purpose. For instance, 

 platforms may choose to use the standard to enable fungible in-game crypto assets for loyalty points, and NFTs for loyalty categories.

Similar to ERC-20 and ERC-721 (but unlike ERC-5169), the ERC-1155 standard doesn’t provide a function to embed executable scripts within tokens. 

The Future of the ERC-5169 Token Standard

ERC-5169 might change the blockchain industry in the same profound ways as ERC-20 and ERC-721. For the first time in Ethereum’s history, executable and self-contained smart tokens are now an option for developers. In a way, such functionality could actually cannibalize further adoption of smart contracts and DApps: let’s not forget that smart tokens aren’t an enhancement for these technologies, but rather a complete, self-reliant alternative to them.

With ERC-5169, we might just be starting to move away from Ethereum’s blockchain being a DApp hub to its becoming a web of individual smart tokens. Moreover, this technology isn’t limited to Ethereum alone, as the Smart Layer network enables the use of smart tokens on any 

 chain. For example, the most prominent ERC-5169 application, 

, has chosen Polygon as its primary hosting environment. In the future, it’s likely that the standard will be expanded to include the majority of EVM platforms. We might also see the replication of ERC-5169’s executable token concept on other, non-EVM smart chains. 

But the most radical transformation that will arise from the ERC-5169 standard is the convergence of web3 and Web 2.0 technologies. Because all of their programming logic can be contained within one token, ERC-5169 assets will easily be able to traverse blockchains and interact with Web 2.0 platforms. 

For years, discussions have centered on the lack of effective interaction and interoperability between web3 and Web 2.0. The ERC-5169 standard is a major step toward resolving these issues. The standard will help combine web3's security and tokenization advantages with the widespread usage and popularity of Web 2.0.

Thanks to this versatile token standard, the distinction between web3 and Web 2.0 may soon blur, and these two distinct digital worlds might even converge into a unified entity, powered by the ERC-5169 functionality. 

Moreover, who wouldn’t like to own an NFT that’s a complete game or application in itself? This prospect alone is so enticing that it’s hard to see ERC-5169 not gaining popularity and widespread adoption in the blockchain industry.

ERC-5169: Bridging Web 2.0 and Web3 With Dynamic Tokens

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards