Ancient8: An Ethereum L2 Centered on Gaming and Community, Supported by OP Stack
By 1912212.eth, Foresight News
The gaming track has been quiet for a long time. Since the phenomenon of the money-making game Axie emerged in the last cycle, there have been no widely discussed blockchain games. At the same time, market participants have found that games like Axie, which are representative of "play to earn," are not sustainable. How to enhance the fun of the game while allowing players to earn money has always been a topic of exploration for entrepreneurs and investors in the industry.
The Southeast Asian market once led the development of blockchain games and attracted a lot of venture capital. A recent example is Ancient8, a blockchain infrastructure that has just been launched on Coinbase. In January 2022, Ancient8 completed a $4 million seed round of financing, led by Dragonfly Capital, Pantera Capital, and Hashed. In June of the same year, it completed a $6 million financing round, led by Makers Fund and C² Ventures, with participation from Pantera Capital, IOSG Ventures, Folius Ventures, and Sky9 Capital.
Teams that maintain sufficient cash flow throughout the bear market cycle and continue to build are not common. Especially rare are those that have endured the cycle and officially launched TGE in this round. What sets Ancient8 apart?
What is Ancient8?
Ancient8 is a blockchain gaming guild based in Vietnam, originally aimed at creating more economic opportunities through blockchain games. However, since September last year, its main focus has shifted to the Ethereum Layer 2 network, Ancient8 Chain, and it launched its mainnet in February 2024. On July 17, its token A8 officially began trading.
Ancient8 Chain is an Ethereum L2 centered on gaming and community, supported by OP Stack and enhanced by Celestia to address the scalability and adoption challenges faced by Web3 games and consumer DApps. Ancient Chain has reduced gas fees by prioritizing modular design.
OP Stack's modular components cover DA, sorting, derivation, execution, and governance layers, providing fine-grained control over various aspects. Ancient integrates with OP Stack to enhance its composability and scalability. OP Stack is fully compatible with the Ethereum Virtual Machine (EVM), allowing developers on Ancient8 Chain to seamlessly port existing Ethereum projects.
The reduced gas fees for on-chain interactions also provide users with a relatively friendly experience. In addition, Ancient also integrates Celestia to introduce DA-optimized modular design to the chain.
In summary, Ancient8's composability, scalability, and compatibility with EVM greatly facilitate developers in building and developing applications on it.
Game Studio Suite
Ancient8 not only has its Layer 2 technology as the underlying support but also provides a full range of services for project parties, players, etc., including:
NFT marketplace platform Doji
Game Launchpad platform Space3
Game community activity center Ancient8 Gaming
Advertising service platform ReneVerse
Identity ID and social A8ID
Most Ethereum Layer 2 projects only provide partial support in terms of funding and technology, while Ancient8 comprehensively considers facilitating its launch, issuance, advertising, and partnership connections, which helps in rapidly incubating projects.
According to data from its official website browser, the total number of accounts is close to 1.5 million, with a total address count of 1.724 million, and an average block time of 2 seconds. The number of active accounts has been steadily increasing after the mainnet launch, fluctuating around 20,000.
Token Economics
A8 is the native governance token of Ancient8. Token holders can participate in voting, proposals, etc., and the token can also capture network growth value, be used for network gas fees, and participate in staking. Its total supply is 1 billion, with ecosystem allocation at 32%, team allocation at 20%, treasury allocation at 15%, seed round and liquidity provision each at 10%, private round allocation at 6%, public round allocation at 5%, and advisor allocation at 2%.
In terms of unlocking, seed round, team, advisor, and treasury allocations begin unlocking after a 12-month cliff, while the private round unlocks after a 6-month cliff. Public round, liquidity provision, and ecosystem funds unlock immediately.
Airdrops and Staking
Currently, A8 has opened token claims until August 17, 17:00, for eligible users including:
Hairy The Bene NFT holders
Zone Nine NFT holders
Participants in Ancient8 testnets V1 and V2
Active users on the mainnet
Users on the mainnet leaderboard
This also includes various content creators, badge holders, and ecosystem engineers.
Users who "claim and stake" on the airdrop claim website before August 17 will receive a 400% point multiplier, and these staked tokens do not require locking.
Currently, Ancient8 also provides two types of staking options for token holders. One is unlocked, allowing withdrawal at any time. The other requires locking for optional periods of 30 days, 60 days, or 180 days. The more tokens staked, the higher the points received. The longer the token lock-up period, the higher the point multiplier received by users.
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