AUCTION has surged, what other "golden shovels" are worth paying attention to?

The prosperity of a bull market largely depends on two main factors: the influx of external capital and the strengthening of internal capital leverage. Influential financial entities like BlackRock play a key role in driving external capital, especially as the expected launch of a Bitcoin spot ETF may change the game rules in the crypto market.

In 2020, benefiting from the innovation driven by DeFi Summer, a number of CEXs successively launched "new coin mining" functionality, which combines IEO with DeFi liquidity mining. When a new project is listed on a CEX, users no longer need to "spend money" to participate in the fundraising; instead, they can stake the assets specified by the trading platform to obtain new assets. Compared to spot trading, the cycle of listing new projects is shorter, and the investment return rate is more amazing, hence the platform token was once hailed as the "golden shovel" for obtaining new assets.

Subsequently, DeFi innovative applications such as LSD and Restaking on Ethereum surged, but the Bitcoin ecosystem has not yet seen large-scale similar financial applications. Currently, Mingwen has successfully entered the secondary market, and the next step is to consider how to continuously empower the Bitcoin ecosystem's financial infrastructure using the market heat of Mingwen.

BlockBeats has compiled a group of new "golden shovels" currently in the market, which are injecting capital leverage vitality into the crypto industry, especially the Bitcoin ecosystem.

Bitcoin Ecosystem "Golden Shovels"

Bounce Brand (AUCTION)

Bounce Brand (formerly Bounce Finance) is a decentralized auction protocol that integrates liquidity mining, decentralized governance, and staking mechanisms, providing users with the ability to create and participate in various types of auctions on multiple blockchain networks.

On November 12, Bounce Brand completed the launchpad for the bridging protocol MultiBit (MUBI), with an IDO price of 0.00047 USD and raised 88 ETH, with a return of over 80 times during this period. On November 29, Bounce Brand launched the public sale of the Bitstable project token BSSB based on Bitcoin; on December 4, BSSB broke through 1.6 USD, with a 24-hour increase of 89.58%, reaching a historical high.

These two successful token auctions made the crypto community realize that Bounce was well-prepared. On December 1, Bounce Brand launched BounceBit, a DeFi solution designed for the Bitcoin ecosystem, based on Binance Bitcoin (BTCB) and powered by AUCTION. BTCB is an asset pegged 1:1 to Bitcoin and locked on the Bitcoin blockchain, allowing Bitcoin holders to participate in the DeFi ecosystem while maintaining their Bitcoin investments.

On December 15, Bounce Brand launched a new round of Launchpad projects, featuring the DID service platform Bdid (BDID) on BTC L2. There are three participation modes: purchasing lottery tickets using AUCTION for a draw, staking AUCTION to receive allocation proportionally, and staking the stablecoin DAII to receive allocation proportionally. After the auction, BDID was listed on Uniswap, with DEX trading volume exceeding 12 million USD.

Today, Bounce Brand announced that Bounce Launchpad will adopt a "kill two birds with one stone" strategy to launch token issuance, with two independent teams jointly issuing a token. The project's identity is confidential, and participation is through AUCTION and BitStable's stablecoin DAII, with two auction pools. As a result, the price of AUCTION has surged significantly, with a 24-hour increase of 47.5%, reaching 37.82 USD at the time of writing.

TurtSat (TURT)

TurtSat plays a role similar to Bounce Brand, as a newly born asset issuance platform led by the community's Ordinals open platform. Its mission is to become the Gitcoin of the Ordinals world, where anyone can build and donate to the Ordinals ecosystem through TurtSat, participating in the ecological construction of Ordinals and benefiting from it. Its native token is TURT.

Since its launch, TurtSat has launched multiple projects (BRC 20 asset protocol CHAX, BRC 20 cross-chain bridge MUBI, Ordinals aggregation platform NHUB, Ordinals lending platform DOVA, and the Bitcoin ecosystem game platform RAIT), all of which are early BRC 20 infrastructure construction platforms and have performed well after launch.

In early December, TurtSat announced the launch of the staking system TURT POOL. According to TurtSat, this will be a new way for users to participate in project launches on the TurtSat platform, balancing fairness and efficiency, and effectively preventing the use of scripts by robots to plunder large donation shares, allowing TURT holders to participate and receive their due rights.

After staking TURT, TURT POOL will record the staked token quantity and staking time in real-time for the corresponding address (block confirmation time/network confirmation time), and calculate and release EGGS in real-time. EGGS is a new asset issued by TurtSat, with applications including but not limited to project launch voting, direct exchange for cooperative token packages, and perhaps in the future, EGGS will become an important way to obtain whitelist quotas for new projects.

BitStable (BSSB)

BitStable (BSSB) is a decentralized asset protocol based on the Bitcoin network, allowing anyone to generate the DAII stablecoin collateralized for the Bitcoin ecosystem anywhere through the platform. BitStable has a dual-token system and cross-chain compatible structure, with its tokens being DAII and BSSB.

DAII is the USD stablecoin issued by BitStable, with a total supply of 1 billion. Users can obtain it by pledging ORDI or MUBI on the BitStable website, and the project has also issued some DAII on Ethereum, which can be purchased directly.

With BitStable's successful launch on Bounce, DAII has participated in more related projects on Bounce. As mentioned earlier, pledging DAII is one of the options for participating in the Bdid (BDID) Launchpad on Bounce, and the latest round of Launchpad on Bounce also allows participation by pledging DAII.

AUCTION surges, what other "golden shovels" are worth paying attention to?

BSSB is the governance token of the platform, used by the community to maintain the system and manage DAII. BitStable also incentivizes BSSB holders through dividends and other measures. The total supply of BSSB is 21 million, of which 50% is publicly sold on Bounce Finance, the team will hold 5% of BSSB (locked for 6 months and linearly unlocked for 15 months), the airdrop quota will account for 3.5%, staking rewards will account for 36.5%, and LP will account for 5% (locked indefinitely).

MultiBit (MUBI)

MultiBit is a bridging protocol that appeared in May this year, connecting BRC20 assets to the EVM network, allowing users to seamlessly transfer tokens between the ETH chain, BNB chain, and BTC network.

MultiBit simplifies the token transfer process between Bitcoin's BRC20 and the EVM network. First, users transfer BRC20 tokens to a dedicated BRC20 address. Once confirmed, the Multibit protocol begins operation, minting an equivalent amount of tokens on the Ethereum or BNB chain. The Multibit Protocol collects tokens from all distributed unique addresses, which are securely transferred to a unified cold wallet. When users need to withdraw tokens, the Multibit Protocol destroys the corresponding number of tokens on the EVM chain and then transfers the equivalent tokens from the secure cold wallet to the user.

On November 12, MultiBit completed an IDO auction on Bounce Brand, raising 88 ETH. On November 4, it completed another IDO at the same price on TurtSat, raising 4.64 BTC. The total raised in the two rounds is approximately $350,000.

Its native token MUBI has seen a 24-hour increase of 43.7%, with a price of $0.323 at the time of writing. In addition to governance rights, MultiBit users staking MUBI tokens can also earn rewards in the form of ERC20 or BRC20 tokens on the MultiBit platform.

Solana Saga Phone

In addition to the traditional "golden shovels" mentioned above, there is an unexpected shovel, the Web 3 phone Saga, launched by Solana Labs.

Saga Phone was initially listed on May 8, 2022, at a price of $1000, positioned as the flagship Android phone of the Solana ecosystem. The phone features 512 GB of storage, two rear cameras, a 6.67-inch OLED display, and fingerprint unlocking. More importantly, it has a dApp Store specifically for encrypted applications and a secure element for storing the private keys of encrypted users, separating this sensitive data from other data on the phone. On August 10, Saga Phone announced a price reduction from $1000 to $599.

Until recently, the Solana-based MEME token Bonk surged, and each Solana Saga Phone has the right to receive up to 30 million BONK tokens airdropped, causing a 500% premium on eBay, with prices reaching $3,000.

On December 17, Kyle Samani, co-founder of Multicoin Capital, stated on social media that Saga Phone owners are expected to receive a large number of airdrops in the next 12 months. Yesterday, the Solana ecosystem Meme project Samoyedcoin announced that Saga Phone owners will receive airdrops of SAMO tokens, with specific details yet to be announced.

Other Ecosystem "Golden Shovels"

In addition to the hot Bitcoin ecosystem, there are similar "golden shovels" in other public chain ecosystems that have recently received considerable attention.

TonUP (UP)

TonUP is an asset issuance platform based on the TON blockchain, primarily discovering and nurturing promising projects in the TON ecosystem, providing the community with investment opportunities in high-quality TON ecosystem projects, and supporting the corresponding ecosystem construction of TON ecosystem projects. Additionally, TonUP can provide services such as marketing, DEX, and staking for IDO projects, increasing project exposure and access to resources, and contributing to the project's good reputation and market heat.

TonUP went live in August 2023 and completed its first IDO project token issuance at the end of the same month, helping MMORPG game project Tap Fantasy raise 80,000 TON Coins.

As part of the TON ecosystem, TonUP received a six-figure investment from TONcoin.Fund. On December 13, TonUP announced that its token UP IDO will be held on December 20, with the price of 1 UP token set at 0.05 TON. On December 14, TonUP released the tokenomics, with a total supply of 100 million UP tokens.

SuiPad (SUIP)

SuiPad is the first IDO, ISO, and INO Launchpad project built on the Sui public chain, recognized as the first official IDO Launchpad project approved by the Sui public chain. SuiPad acts as an intermediary connecting new projects and early investors in the ecosystem, aiming to select the best new projects in the Sui blockchain through a unique planning process and industry access standards, while also raising funds for early projects.

Like most Launchpads, the primary utility of SuiPad's native token SUIP is to assess user loyalty. User loyalty levels are determined based on the weighted amount and duration of SUIP tokens staked on the platform, selecting members with different levels of access.

In other words, to qualify for a specific level, users must stake a corresponding amount of SUIP tokens on SuiPad for a specific duration. The more SUIP tokens staked, the higher the level obtained, increasing the chances of winning allocation quotas for participating in platform IDOs. It is worth noting that there is a 15-day cooling-off period for staked tokens.

The higher the membership level on SuiPad, the greater the opportunity to obtain investment quotas for scarce projects, and higher membership levels are positively correlated with the amount of SUIP tokens and staking duration. In other words, the greater the amount of SUIP tokens held and the longer the staking duration, the higher the level obtained, and relatively speaking, the greater the chances of winning allocation quotas for participating in platform IDOs.

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