A quick look at the first batch of projects incubated in Binance Labs Season 7

Author: Nan Zhi, Odaily Planet Daily

Yesterday, Binance Labs announced the first batch of projects selected for the seventh season of incubation, including Astherus, CYCLE NETWORK, DILL and EigenExplorer. Its concept and business are relatively cutting-edge, and the first two have launched early interactive activities and are linked to future airdrops. Odaily will analyze the business, characteristics and interactive activities of each protocol in this article.

Astherus: Liquidity Center for LRT Assets

Protocol Business

The re-hypothecation market space of BTC and ETH is as high as 20 billion US dollars and is still growing rapidly. Re-staking allows blockchain validators to deposit ETH or Liquid Staking Tokens (LST) into the platform, earn APR rewards and secure the network. But Astherus believes that most rehypothecation protocols on the market do not seriously consider: What is the use of rehypothecated assets?

According to the official introduction, Astherus is building a comprehensive DApp ecosystem for re-pledged assets such as LST and LRT. Users' assets can not only obtain pledged APR, but can also be used to trade spot and derivatives, stablecoin yield and other profit strategies. Astherus supports multi-chain re-hypothecation assets, including Arbitrum, BNB Chain and Ethereum.

The Astherus protocol consists of 3 module layers:

• DApp layer: includes various DApps for practical use cases of re-hypothecated assets, such as cryptocurrency spot and derivatives exchanges AstherEx and DeFi, CeFi profit strategy protocol AstherEarn, etc.
• Defi infrastructure layer: Aggregates liquidity from multiple LST and LRT pools, can build stablecoin and spot yield aggregation protocols and establish innovative derivatives clearinghouses based on this infrastructure, and also allows developers to easily build DApp based on LST.
• L1 chain: Asther Layer is a Layer 1 blockchain built using the Cosmos SDK and will be linked to multiple other chains. Specific details will be disclosed later.

Interactive Activities

A month ago, Astherus launched Stage 0 interactive activities, aiming to improve the TVL of the protocol, and stated clearly that the points from the activities are related to future airdrops.

The activity method is very simple and straightforward. You only need to deposit specific assets into the protocol. Supported chains include BNB Chain and Ethereum mainnet.

Supported assets include BNB, USDT, BTC, ETH, lisUSD, slis BNB, WB ETH, STONE, CAKE, LISTA on BNB Chain. USDT, BTC, ETH, USDC, rs ETH on Ethereum.

Staking slisBNB, lisUSD, LISTA, STONE, and rsETH will receive an additional 15% points bonus.

(Note: Binance announced today that the slisBNB deposited in its Web3 wallet will also be included in the Launchpool, achieving one fish and three meals.)

CYCLE NETWORK

According to Binance Labs, CYCLE NETWORK is A universal, secure, and verifiable chain abstraction that provides a bridgeless aggregated liquidity network for all blockchains, whether L1, L2, EVM, or non-EVM.

Project Vision, Functions and Features

With the rapid development of Web3 and blockchain technology, many different blockchain platforms have emerged, each with its own protocols and assets, resulting in liquidity being scattered across different On the chain, it affects the user experience and the efficiency of market operations.

In a multi-chain environment, users need to manage their assets through complex bridges and solutions, while developers need to repeatedly deploy their applications in different ecosystems to meet the needs of different users. Moreover, there are security risks in cross-chain and the complexity of multi-chain operations.

Cycle Network is an innovative solution designed to achieve interoperability, security and efficiency between blockchains. It utilizes Verifiable State Aggregation (VSA) technology to build a universal, secure and verifiable on-chain abstraction architecture. In this way, Cycle Network is able to achieve seamless interactions between different blockchain platforms without relying on traditional cross-chain bridging technology.

The core features of Cycle Network include:

• Decentralized Application Center Infrastructure (DACI): Facilitates the development of decentralized applications and the popularization of Web3.
• Omni State Channel Indexer (OSCI): A decentralized multi-chain indexer that enables trustless verification and determination of Cycle ledger status.
• Zero-knowledge hardware acceleration: Improve efficiency and scalability by accelerating the generation and verification of zero-knowledge proofs (ZKPs) through dedicated hardware.
• Fully Homomorphic Encryption (FHE): Allows calculations to be performed on encrypted data without decryption, enhancing data privacy and security.

Point System

Cycle Network’s current interactions are all external joint activities. Previously, it has cooperated with BEVM, Macaron, IoTex and other projects to launch activities. The latest activity is a joint activity with Tap U p. Complete tasks to activate Cycle points and Tap U p's U prize pool.

The activity method is also very simple. You only need to perform social media links, follow and other operations, so I won’t go into details in this section.

DILL: Improve DA network scalability by a hundred times

Dill is a highly scalable and highly secure next-generation Data Availability (DA) network. It is consistent with the full sharding technology solution in Ethereum’s future roadmap, using subnet sharding, 2D erasure coding (Erasure Coding), KZG (Kate-Zaverucha-Goldberg) and DAS (Data Availability Sampling) and other core technologies. Dill offers 10 to 100 times greater scalability than other current DA networks.

Dill is a permissionless, decentralized Proof of Stake (PoS) network supporting millions of validators. It allows the staking and re-staking of Bitcoin (BTC) to participate in the PoS network consensus, further improving the security of the network.

Financing

On July 16, modular network DILL announced the completion of a Pre-Seed round of financing, led by FSL Ecosystem, with participation from LayerZero Labs, Modular Capital, Pendle Lianchuang TN Lee, Manta's victorji.eth, etc. The specific amount Not disclosed yet.

It is reported that Dill is a data availability layer and proposes a paradigm-shifting scalability solution that utilizes the same technology stack as the Ethereum Go client to ensure high performance, and its effectiveness is proven by aggregating KZG polynomial commitments to ensure fast speed finality. Data sovereignty is important for applications as they accumulate large amounts of user behavior data points. In an extreme case, when a permissioned DA (such as a DA with only 100 nodes) stops functioning for some reason, most chains will be unable to do anything, and Dill will allow consumers of any application chain to pass light clients Protect your product's data sovereignty by allowing permissionless network participation.

EigenExplorer: Matryoshka doll or another new asset class?

EigenExplorer is a platform dedicated to serving the core entities in the EigenLayer ecosystem, including re-pledgers, AVS and Operators. EigenExplorer's innovative asset class Liquid AVS Token (LAT) designed specifically for the EigenLayer ecosystem.

LAT was launched to solve the problem of users currently being unable to directly support AVS. Users must allocate their staked assets through operators, or use the LRT platform to control AVS participation and reward distribution. LAT allows users to bypass the operator selection step and directly support any AVS they choose.

Features of LAT include:

• Direct re-staking to an AVS;
• Automatic selection of operators;
• While maintaining the staking status, it is a liquid token that can be used for other DeFi activities;
• Improved utility, efficiency and user experience. Users can build their own liquid re-pledge portfolio to match different risk appetites. Choose supported protocols based on your own preferences, rather than packaging staking contributions for general validation.

According to the official tweet, the testnet will be launched in mid-August 2024.

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