Ethena is a project developed to address the issues of existing stablecoins in the cryptocurrency market. What is Ethena (ENA)? Ethena is a cutting-edge decentralized finance (DeFi) protocol built on the Ethereum blockchain. It is designed to generate synthetic dollars, which are digital assets that maintain price parity with the US dollar (USDe). The ENA token is the native governance token of the Ethena protocol. Through the use of smart contracts, Ethena allows users to mint, trade, and exchange synthetic dollars without the need for a central authority or intermediary. This provides users with greater control over their funds and financial transactions. The ENA token plays a crucial role in the governance and operation of the Ethena protocol. Holders of the token have voting rights in the decision-making process of the protocol, such as proposing and voting on changes to the protocol parameters or upgrades. Additionally, the ENA token can be staked to earn rewards in the form of transaction fees generated by the protocol. This incentivizes token holders to actively participate in the protocol, contributing to its security and stability. Overall, Ethena aims to revolutionize the way decentralized finance operates by providing a reliable and transparent platform for users to access synthetic dollars and participate in the governance of the protocol. Why is Ethena Labs important? Ethena provides a vital solution within the growing DeFi sector. Synthetic dollars play a key role in various DeFi applications, including:
Saga is a protocol that provides blockchain development services for decentralized applications. Let’s dive right in and learn more in this article! What is Saga (SAGA)? Saga Protocol is a venture that offers blockchain construction services for applications. Essentially, Saga functions as a blockchain platform designed to introduce additional blockchains, known as “Chainlets,” within the Saga ecosystem. These Chainlets are safeguarded by Saga validators through a process called Interchain Security, which is a collaborative security system derived from Cosmos. The concept of Interchain Security involves one blockchain serving as a security provider for others, specifically Chainlets in this scenario. As a result, Chainlets are able to leverage the advantages of operating a Cosmos SDK application while relying on Saga validators for block validation. Solution for Building VM-Compatible Blockchains Saga is presenting a specialized system for deploying blockchain that is user-friendly, decentralized, and secure. This system allows developers to have control over selecting their desired virtual machine, starting with support for the Ethereum Virtual Machine (EVM). In the future, Chainlet is striving to be compatible with multiple virtual machines, giving developers the freedom to select from different options such as EVM, CosmWasm, or Javascript VM. Chainlet Launching Process Launching a Chainlet on Saga does not require permission, unlike on Cosmos Hub. Developers simply need to possess SAGA tokens to cover the expenses of setting up and maintaining their Chainlet. This process is akin to services offered by platforms like Amazon Web Services and other SaaS providers, with the distinction that the subscription fee for creating and managing a Chainlet is paid in SAGA tokens. Once the fee is paid, validators are responsible for establishing and overseeing the infrastructure of the Chainlet, similar to how validators on Cosmos Hub manage app chain infrastructure. To launch a Chainlet, developers must allocate funds to an escrow account using SAGA tokens. This escrow account can be funded with any desired amount and serves as a prepaid service to handle expenses related to the Chainlet. If the prepaid fee runs out, the Chainlet will become inactive until the developer deposits more SAGA into the account. The fee is calculated per epoch, with each epoch lasting approximately one day. There are different methods to fund your margin account with SAGA tokens:
Nibiru Chain (NIBI) is a blockchain platform that aims to revolutionize the gaming industry by providing a decentralized ecosystem for gamers, developers, and content creators. By utilizing blockchain technology, Nibiru Chain offers transparency, security, and fair distribution of rewards to its users. Let’s delve deeper into Nibiru Chain with this article Table of Contents
Story Protocol, a blockchain platform dedicated to intellectual property protection, has just raised $80 million in a Series B funding round, bringing its total funding to $140 million. What makes this project so attractive to investors? Coinbold will dive deeper to uncover the answers. Table of Contents
Nubit is bridging the gap between the traditional internet (Web2) and the decentralized web (Web3) by providing a comprehensive ecosystem that simplifies the transition and unlocks the full potential of decentralized applications. In essence, Nubit is paving the way for a more open digital future. Below is a concise overview of Nubit, summarized by Coinbold for your understanding. Table of Contents
In the relentless pursuit of blockchain scalability, MegaLabs has unveiled MegaETH, a promising Layer 2 solution built on Ethereum. Addressing Ethereum’s inherent limitations of slow transaction speeds and high gas fees, MegaETH is poised to revolutionize the DeFi landscape, capturing the attention of both investors and developers. Let’s dive into MegaETH with Coinbold in this quick read. Table of Contents
Ethervista is a unique platform that enables users to launch their own memecoins directly on the Ethereum network. This innovation presents new opportunities for crypto enthusiasts, especially as the memecoin trend continues to gain momentum. So, what sets this project apart? Join Coinbold as we delve deeper into the details in the following article. Table of Contents
In the ever-evolving landscape of blockchain technology, cross-chain interoperability remains one of the most significant challenges. To address this issue, Interswap has emerged as a revolutionary decentralized exchange (DEX) that enables seamless swaps of native assets across various blockchains without the need for intermediaries, bridges, or wrapped tokens. Let’s delve deeper into Interswap with Coinbold! Table of Contents
As high gas fees on the Ethereum network continue to pose a significant challenge, Zyfi emerges as a revolutionary project in the decentralized finance (DeFi) space. Zyfi aims to address this issue by providing a flexible and ETH-agnostic solution for transaction fee payments. Let’s delve into Zyfi and how it works. Table of Contents
Want to build an AI application without being controlled by anyone? Want to own your AI creations? Let’s explore it in the following article by Coinbold. Table of Contents