OKX Ventures Investment Bimonthly Report for May-June 2024: Many sectors are stable and improving, and the market outlook remains optimistic
Author: OKX Ventures
The US economic growth remains resilient, but its high interest rate environment continues to have an impact on the economy, and many countries and regions are facing signs of economic stagnation or mild recession. Although inflation has shown signs of cooling down as planned by the Federal Reserve, the uncertain macroeconomic environment has further promotedcryptocurrencyMarket volatility has increased.
However, factors such as Ethereum spot ETF, on-chain data, native application innovations of major public chain ecosystems, and innovations in the TON ecosystem all provide continued growth momentum for the industry, and OKX Ventures remains optimistic about the market prospects.
Continued efforts in multiple fields
According to OKX Ventures' observations and research, many areas of the current crypto industry are showing a "stable and improving" development trend.
At the policy level, the industry has finally made significant progress in Ethereum ETFs, with the U.S. Securities and Exchange Commission (SEC) approving all 19b-4 documents on May 23. If the Ethereum spot ETF begins trading in July 2024, considering that the asset management scale of Bitcoin ETFs has reached US$50 billion, the scale and purchase volume of the ETH spot ETF will be in the tens of billions of dollars based on market value.
On-chain data showed a slight decline in stability, and Meme became a hot spot on the chain. In May and June, the on-chain transaction volume of Ethereum and Bitcoin was US$390 billion and US$338 billion, respectively, which was still in a downward channel compared with March and April. The supply of stablecoins increased to US$142.6 billion, 26.7k and 26.3k Ethereum coins were destroyed in May and June, and the lowest Ethereum Gas fee reached 1gwei. Meme-type assets remained popular in May and June, with a total market value of more than US$60 billion. Especially on the Solana chain, Meme transactions accounted for more than 50% of the total transaction volume. On-chain data shows that the industry has bottomed out temporarily, and we remain optimistic about on-chain innovation in the second half of the year.
The industry infrastructure is improved and the ecological projects are more abundant. The number of Layer2 and TVL of Bitcoin ecosystem has increased, which has promoted the modular development of Bitcoin ecosystem. For example, Nubit inherits BitcoinSafetySolv takes over the aggregation of liquidity benefits. OKX Ventures believes that rich native infrastructure will be an important focus of the market in the future, such as various AI , GameFi, social and other ecological applications.
The TON ecosystem continues to grow, with applications and data exploding. Backed by Telegram's 900 million active users, TON has rapidly developed TVL exceeding 700 million US dollars, and there are multiple user applications with more than 10 million users. As a result, we see a new entry point for further mass adoption in the industry, and OKX Ventures will continue to support innovative TON applications.
SafetyThe field is worth paying attention to in the long term, and the on-chainSafety事件损失金额达到 6.88 亿美元，相比Q1 损失金额增加了 37%。DeFi 和 公链是黑客攻击的主要目标，链上Safety在C端用户侧仍然有很多工作需要做，以 GoPlus 为代表的安全工具仍然有很长的路要走。
OKX Ventures latest investment news
As a long-term value investor in the industry, OKX Ventures continues to seek out and invest in innovative projects in multiple fields, injecting more vitality into them in terms of capital, technology, ecology and other aspects.
Bedrock
According to the project’s official website, Bedrock is the first protocol to support multi-asset liquidity re-mortgage.BlockchainBedrock has partnered with RockX, a blockchain infrastructure provider, to provide non-custodial solutions to ensure the security of user assets. Bedrock supports the pledge and re-pledge of multiple assets, such as uniBTC, uniETH, and uniIOTX, respectively with Babylon, EigenLayer, and IoTeX.BlockchainCollaborate and use these collaborations to enhance the security and returns of pledged assets.
Among them, uniBTC is a re-pledge protocol supported by the Babylon chain, accepting wrapped BTCToken(such as wBTC), making BTCTokenWhile enjoying the security of the Ethereum network, holders can alsoXiaobai Navigation获得质押BTCToken的收益。uniETH是设计用于本地再质押并获取EigenLayer额外奖励的Liquid Restaking Token（LRT），结合了机构级的安全性和增加的收益。uniIOTX是在IoTeXBlockchainBedrock is a liquidity staking solution on the blockchain that solves the problems of existing Delegated Proof of Stake (DPoS). Bedrock is committed to unlocking the liquidity and value of PoS tokens through its universal (uni) standard, providing secure liquidity staking tokens and enhanced income opportunities.
In terms of technological innovation and safety, Bedrock adopts end-to-endcontractIntegrated with node management, it provides an Oracle-free technical architecture, avoiding centralization and security risks. Bedrock’s non-custodial smartcontractIt ensures the highest level of protection for user assets and allows users to pledge and withdraw funds at any time without any restrictions on funds.
In terms of multi-asset support and income strategy, Bedrock provides high staking income through iniToken such as uniETH and uniBTC, and users can also expect to receive a variety of airdrop rewards. For example, uniETH users can expect ETH staking income, EIGEN rewards, AVS airdrops and $ARB, while uniBTC users can receive BTC staking income based on Babylon and other BTC. L2award.
在跨链部署与兼容性方面，Bedrock的uni系资产已部署在多个生态系统，包括Arbitrum、Linea、Scroll、zklink、manta等，进一步拓宽了其兼容性和市场覆盖范围。这为用户提供了在多个区块链平台上进行质押和再质押的灵活性。
Codatta
According to the project's official website, Codatta is the first decentralized data protocol that builds infrastructure for developers, protocols, and artificial intelligence. Its feature is the confidence of data generated using scientific methods. The platform enhances data transparency and integrity in the crypto ecosystem by providing metadata annotation capabilities for blockchain addresses. Codatta uses advanced artificial intelligence technology and economic incentive mechanisms to integrateCommunityThe participation of all forces ensures the accuracy and reliability of the data, thereby providing a solid and reliable data service foundation for developers and various applications.
In terms of flexible scalability, Codatta ensures high quality and high trust through collaboration and automation mechanisms by integrating and managing data from various sources. The protocol's infrastructure is highly flexible and can adapt to new data categories.
In terms of data reliability and security, Codatta uses a decentralized approach to annotate metadata.CommunityContributions are used to verify and confirm metadata tags. It uses artificial intelligence, algorithms and economic mechanisms to ensure high confidence and accuracy of data, and guarantees the immutability and integrity of data through blockchain technology, thereby improving the security of the platform.
In terms of public accessibility and privacy protection, Codatta is a permissionless platform that allows developers, individuals, and protocols to freely access data. At the same time, to prevent malicious use, minimum access restrictions are set for certain risky data sets to protect user information and prevent unauthorized access.
GoPlus
According to the project's official website, GoPlus is an open, permissionless and user-driven Web3 modular user security layer. It is designed to integrate seamlessly with any blockchain platform and greatly enhances user security by providing comprehensive protection covering every stage of the user's transaction lifecycle. GoPlus leverages a decentralized user security network and cutting-edge AI Drive security solutions, conduct thorough risk analysis, and provide users with intelligent and efficient security services. GoPlus aims to create a safer and more user-friendly Web3 on-chain interactive environment by filling the gaps in the user security layer in the existing blockchain architecture and providing users with more effective and better on-chain security protection.
In terms of comprehensive security lifecycle protection, GoPlus provides all-round protection from the initiation of a transaction to final settlement, providing security protection for every step of user interaction and transaction in the blockchain environment.
In terms of the multi-chain security center, facing the current fragmentation of security services, GoPlus has created a unified security center that provides cross-chain security policy management, allowing users to manage and monitor the security of multiple blockchains on one platform.walletThe volume is as high as 11 million, the number of paying users exceeds 60k, and the daily active users are as high as 2 million.
In terms of seamless on-chain firewall, GoPlus has introduced an innovative on-chain firewall that is directly integrated into the blockchain and can block risky transactions in real time, ensuring that users' transactions are safe and uninterrupted.
In terms of decentralized security services, the security services provided by GoPlus are completely decentralized, ensuring the openness, permissionlessness and user-driven nature of the services, which is consistent with the core values of Web3.
Nubit
According to the project's official website, Nubit is a secure and scalable Bitcoin data availability layer designed to expand Bitcoin's data capacity to support applications such as ordinals, second-layer solutions, and price oracles, and to enhance the scope and efficiency of the Bitcoin ecosystem. Nubit is expected to solve the bottleneck problem caused by data throughput limitations in the Bitcoin ecosystem. Nubit's four core components: verification nodes, full storage nodes, light clients, and consensus mechanisms between nodes. Nubit implements a secure and efficient data verification and storage mechanism that allows participants to verify the authenticity and availability of data without downloading the full data.
In terms of inheriting Bitcoin's security, Nubit's security is directly inherited from Bitcoin, and its consensus mechanism and economic security, anti-tampering and anti-censorship capabilities are enhanced through Bitcoin's own guarantee method.
In terms of data availability sampling (DAS), Nubit ensures the integrity and availability of data through data availability sampling technology (DAS). This technology allows nodes to verify the existence of data by randomly sampling data blocks, without having to download the entire data block.
In terms of efficiency improvement, compared with traditional Merkle proofs, the combination of KZG commitments and Reed-Solomon error correction codes greatly improves the speed of data retrieval, especially in complex or data-intensive scenarios, where the retrieval speed can be increased by up to 100 times.
On the test network andCommunityIn terms of participation, Nubit has launched the Alpha testnet and encourages community members to participate and test different functions to promote the improvement and optimization of the technology.
In terms of adapting to Bitcoin's native environment and scalability, the Nubit project and the Nubit DA chain built on the Cosmos SDK are specially optimized for the Bitcoin ecosystem, support Bitcoin's native staking, enhance economic security, and have the potential to be promoted to a wider range of Bitcoin applications and services.
Market outlook remains optimistic
Based on technological innovation, increased institutional investment, the impact of the macroeconomic environment, the growth of users and adoption, and the improvement of the regulatory environment, these factors are jointly driving the crypto industry to continue to improve. Currently, more and more companies and institutions are beginning to adopt blockchain technology and develop decentralized applications (DApps）、智能contract、去中心化金融（DeFi）等，这些技术不仅提升了效率和透明度，还提供了新的商业模式和机会。例如，以太坊的升级和扩展计划（如“Dencun”升级）大幅减少了数据费用，提升了网络性能，吸引了更多开发者和用户。
In particular, the decentralization, security and transparency of blockchain make it a powerful tool to solve problems in the traditional financial system, such as trust issues, high transaction fees and slow transaction processing. In addition, it helps to improve financial inclusion, making it easier for people around the world to access financial services, especially those who cannot access the traditional banking system, thereby promoting innovation and reform of social and economic systems.
In general, the crypto industry is growing due to the promotion of technological innovation and financial inclusion, as well as investment opportunities and decentralized potential. With the further development of technology and the market, the crypto industry may continue to play an important role in influencing the evolution of the global economy and financial system. After going through multiple rounds of bull and bear markets, OKX Ventures is more determined to support innovation, invest in innovation, and support innovation, and is optimistic about the broad development space of the crypto market in the future.
“We remain optimistic about the outlook for the crypto market.”
The article comes from the Internet:OKX Ventures Investment Bimonthly Report for May-June 2024: Many sectors are stable and improving, and the market outlook remains optimistic
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