PancakeSwap has partnered with BetFury to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025.

Daily Top Performer — Phala Network (PHA)

The S&P 500 rose 1.1%, marking its third straight gain and the start of the Santa Claus rally. Growth and megacap tech stocks led, driven by optimism in AI and long-term tech trends, despite elevated Treasury yields. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.18%, with Bitcoin and Ether rising by 4.52% and 1.90%, respectively in the past 24 hours.

Today's top performer is PHA, which surged 63.4% after the announcement of Phala Network's 2024 achievements and 2025 roadmap, featuring decentralized GPU AI advancements and strategic partnerships.

The Phala Network (PHA), founded in 2018, is a decentralized cloud computing platform that uses excess computing power from everyday devices. It operates with Gatekeeper and Miner nodes, offering secure and scalable cloud services. Phala also launched Khala (PHA) on the Kusama network in 2021. 

 include co-building a decentralized GPU network, enhancing AI model training, and partnerships with projects like SentientAGI and MorpheusAIs. The Phala Treasury allocated 37% to infrastructure, 20% to community, and 43% to marketing. Social media efforts generated millions of impressions and engagements, while the network participated in six events and established 15 partnerships. Phala 2.0, launching in 2025, will integrate GPU TEE technology and Ethereum Layer 2 scalability for AI and Web3 applications.

Check Out the Latest Prices, Charts, and Data of 

 to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025. Participants can earn rewards by trading BFG tokens on the PancakeSwap Web interface or Telegram Swap-Bot. The competition includes daily lucky draws with $10,000 USDT, a leaderboard with $30,000 in BFG tokens for top traders, and $10,000 USDT for traders using the Telegram Swap-Bot. To qualify, participants must meet specific trading volume requirements, with rewards distributed in USDT and BFG tokens.

Yesterday, Bitcoin Spot ETF flows remained unchanged for GBTC, while non-GBTC ETFs experienced outflows of $149.7 million, bringing total outflows to $149.7 million.

: Astherus lets you farm while qualifying for Lista DAO Season 2, while Superform involves depositing ETH on Base via Moonwell WETH Morpho vault. Mitosis allows Linea airdrop qualification by holding funds, and Symbiotic rewards large token deposits on Ethereum mainnet. Mind Network offers bigger airdrop allocations for farming vFHE by depositing eETH. Solayer requires depositing and delegating SOL or derivatives to rank higher, and Drift's second airdrop involves liquid staking SOL to earn and lend dSOL.

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PancakeSwap and BetFury Launch $50,000 Trading Competition with BFG Token Rewards

In this tutorial, we’ll explore how you can complete a series of tasks in Orochi Network for Bybit Web3 Airdrop Arcade.

In this tutorial, we’ll explore how you can complete Orochi Network tasks for Bybit Web3 Airdrop Arcade. 

Task 2: Quote Orochi Network's Post and Tag 3 Friends

: Navigate to Orochi Network’s pinned post on X.

: Quote the tweet with your thoughts, and tag 3 friends.

 button at the top right corner of the page.

: The Orochi ID window will pop up. You may choose to sign up for an Orochi ID using your Google account, GitHub or email address.

: Congratulations! You’ve successfully created your Orochi ID. 

Task 4: Join the Contribute to Earn Program

: Connect your Wallet, Google account and Discord to be eligible.

: Once you’ve successfully connected all accounts, you’ll have completed this task.

 all of the four tasks above for your chance to 

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How to Complete Orochi Network Tasks for Bybit Web3 Airdrop Arcade

MegaETH is an EVM-compatible blockchain with real-time Web 2.0–level performance. Learn more about MegaETH.

 has long been a formidable challenge for the blockchain industry. Most established chains maintain decentralization and security, but struggle with limited scalability while high-performance 

 (L1) blockchains often compromise decentralization to achieve high throughput. 

What if we could push throughput to unprecedented levels without compromising security or decentralization? 

Enter MegaETH — a project backed by industry leaders such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and Dragonfly Capital. With the first real-time 

 (EVM)–compatible chain —i.e., one that can process transactions as soon as they arrive, and then publish the resulting state changes — MegaETH aims to redefine blockchain performance. In this article, we delve into the scaling limitations of current blockchains and examine how MegaETH aims to solve them. Let's dive in!

The blockchain trilemma has posed a significant challenge for 

 developers for years. As Ethereum co-founder Vitalik Buterin explains, distributed ledger networks can only achieve two out of three critical qualities (security, decentralization and scalability) by using simple techniques. 

As a result, most high-performance chains, such as Solana, Avalanche and BNB Chain, often compromise on decentralization or security to achieve scalability.

To address the scalability challenges of L1 networks, developers have introduced 

 (L2) solutions, which operate on top of blockchains such as Ethereum. These L2 chains achieve 

 (TPS) while leveraging the security and decentralization of their underlying L1s. However, according to MegaETH, both high-performance L1 and L2 networks fall short of meeting the demands of Web 2.0–scale applications, particularly in terms of 

As shown in the table above, the blockchain with the highest scalability, opBNB, achieves a gas rate of 100 MGas/s, equivalent to 650 Uniswap swaps or 3,700 

 transfers per second. In comparison, modern databases can 

 over 1 million TPC-C TPS. While Arbitrum One, the fastest chain listed, offers a block time of 0.25 seconds, this remains insufficient for applications requiring rapid feedback or high update rates. 

These limitations in both scalability and speed make current high-performance L1s and L2s ill-suited for Web 2.0 applications with significant computational demands.

 is an EVM-compatible blockchain with real-time Web 2.0–level performance. With the goal of bridging the gap between distributed ledger networks and traditional cloud computing servers, the project aims to push the performance of Ethereum-based L2s to hardware limits. As the first real-time blockchain, MegaETH can stream transactions at 100,000 TPS with transaction fees under $0.01, and provide millisecond-level responsiveness without sacrificing security or decentralization.

MegaLabs, the organization behind MegaETH, was founded in early 2023 by Shuyao Kong and Yilong Li. Holding an MBA from Harvard Business School, Kong has a background in business development within the blockchain industry. Prior to co-founding MegaLabs, she was the global head of business development at ConsenSys, where she continues to serve as an advisor.

As the Chief Executive Officer (CEO) of MegaLabs, Li has a PhD in computer science from Stanford University. An experienced software developer, he previously worked at Runtime Verification Inc., a firm specializing in software analysis tools and the application of formal methods to improve computing systems.

Together, Kong and Li founded MegaLabs in early 2023 to leverage their business development and computer science expertise to build MegaETH as the first real-time blockchain.

 $20 million of funding in a single seed round at a 9-figure valuation. The round was led by Dragonfly Capital, with other notable venture capitalists including Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holdings, Tangent Ventures and Credibly Neutral. In addition to VCs, MegaETH is backed by high-profile angel investors, such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and EigenLayer creator Sreeram Kannan.

 on crypto trader Cobie’s decentralized fundraising platform, Echo. The round was fully funded within minutes and oversubscribed, showing significant investor demand.

MegaETH achieves over 100,000 TPS with less than 1 ms latency and block time, as well as transaction fees under $0.01, via two core features: a heterogenous blockchain architecture and a hyper-optimized EVM execution environment.

MegaETH's heterogeneous blockchain architecture enables network nodes with different hardware configurations to specialize in specific tasks to boost performance.

There are three types of nodes: sequencers, full nodes and provers. With cutting-edge hardware, a small set of sequencers conduct performance-critical tasks such as transaction execution. Simultaneously, a massively decentralized network of full nodes performs security-critical duties such as block validation. Provers have the lowest hardware requirements, and focus on providing L2 proofs to full nodes.

Hyper-Optimized EVM Execution Environment

MegaETH provides a hyper-optimized EVM execution environment to push latency, throughput and resource efficiency to hardware limits. Consequently, the real-time blockchain can process large volumes of transactions as soon as they arrive, and publish the resulting state changes in a few milliseconds.

To enable real-time EVM execution, MegaETH co-designed a low-latency, streaming-based block-building algorithm with a concurrency control protocol supporting transaction prioritization.

MegaETH's real-time blockchain scales without sacrificing decentralization and security through the following key components and features.

 is an extension of the MegaETH core team. It consists of a group of 10x builders hand-picked by MegaETH developers. According to the project, MegaMafia participants have "an internal compass guiding them toward crypto's world domination."

MegaETH defines three common qualities for MegaMafia members:

MegaETH is setting a new standard for blockchain scalability, addressing long-standing limitations without compromising decentralization or security. By combining innovative architectural decisions with technologies like real-time EVM execution, in-memory computing and smart contract JIT compilation, this real-time L1 chain delivers unmatched performance tailored for Web 2.0–scale applications.

Supported by high-profile investors, such as Vitalik Buterin and Joseph Lubin, MegaETH is poised to bridge the gap between blockchain and traditional computing, unlocking new possibilities for decentralized applications. The project is on track to launch its testnet in early 2025, with the mainnet rollout soon thereafter.

Advanced

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MegaETH: A Real-Time Blockchain for Web 2.0–Scale DApps

Grayscale has launched the Horizen Trust, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it.

Daily Top Performer — Convex Finance (CVX)

The S&P 500 rose 0.73%, driven by big tech and communication services, as investors anticipate a "Santa Claus Rally" to close the year. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 1.61%, with Bitcoin dropping by 2.58% and Ether rising by 4.32%, respectively in the past 24 hours.

Today's top performer is CVX, which surged 28.1% following Frax's consideration of BlackRock's BUIDL token as backing for the rebranded frxUSD stablecoin.

Convex Finance (CVX), launched in May 2021, is a DeFi protocol that boosts yields for Curve protocol users on Ethereum. It allows for staking to earn CRV and CVX tokens and provides voting rights on token allocations. Securitize has 

 adding BlackRock's BUIDL token as backing for Frax's rebranded Frax USD (frxUSD) stablecoin, which will feature a new mint-redeem system. Early feedback from Frax DAO members is positive. Competing proposals from Superstate also suggest backing frxUSD with their tokenized funds. The final backing structure is still undecided.

, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it. The fund's shares track the market price of ZEN, net of fees. While the shares have been traded at both a premium and discount, the fund aims to provide a simpler way for investors to gain exposure to ZEN. Grayscale is also expanding its offerings, with plans for a Solana spot ETF.

Yesterday, BTC Spot ETFs recorded total outflows of $258.2 million, including $38.4 million from GBTC and $219.8 million from non-GBTC funds.

, distributing $SONIC tokens to those who participate. Over 2 million users have joined through an easy onboarding process, requiring no wallet setup or gas fees. To qualify for the airdrop, users must log in via TikTok, access SonicX, and wait for the $SONIC claim banner. SonicX, part of the Sonic SVM app layer, uses TikTok ads and creator partnerships to promote its gaming and blockchain education hub. The project aims to expand its TikTok Chain with new games and future token rewards.

Grayscale Introduces Horizen Trust for ZEN Investment Access

Bybit Learn

Blockchain

Dogechain is a recently launched Layer 2 network for popular meme coin Dogecoin. Find out how it works and how it relates to Dogecoin in this article.

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If you’re active on Twitter, you’ve probably seen news about a project called 

 that was recently launched. Its name bears an uncanny resemblance to the official 

 is a leading meme coin created by two software engineers as a joke. However, contrary to popular belief, Dogechain is not a project launched by the same software engineers. Curious to find out more? Read this article to understand what Dogechain is — and why it was created.

As mentioned above, Dogechain isn’t affiliated with Dogecoin. Instead, it's a separate community-first blockchain that aims to empower Dogecoin holders. Using the bridge, Dogecoin holders can access blockchain games, 

 and various types of DeFi apps. They need some kind of a bridge, because Dogecoin is mainly used for payments and purchases only. Since Dogecoin has limited benefits, the founders of the Dogechain project aim to complement the original Dogecoin cryptocurrency so it can be used for other purposes beyond its initial use.

In other words, this new project seeks to bring scalability, security, robustness and utility to the Dogecoin network.

The idea of launching Dogechain may be puzzling for anyone who’s seen Dogecoin surge to new heights. Why would anyone need to improve a popular project like Dogecoin, which has already proven immensely successful?

In hindsight, the popular Dogecoin has its limitations that need to be solved. Let's talk about these limitations first.

When it launched in 2014, Dogecoin gained tremendous popularity due to 

 that most people could identify with. At the time, the project looked very promising because it tried to replace typical cash with crypto cash. Moreover, the internet meme, Doge, was already a huge hit among early crypto users.

As a result, Dogecoin became an instant success. In the following years, the value of the coin grew tremendously with the backing of global influencers like Elon Musk and Snoop Dogg. To this day, the popularity of Dogecoin remains intact. Dogecoin is popular because it has achieved its initial aim to transform itself into a popular crypto used for online transactions.

Despite the overwhelming success of Dogecoin, its age is starting to catch up with it. It needs an overhaul because Dogecoin is mainly used as a means of online payment. These days, almost all of the major coins offer this function. Therefore, Dogecoin won’t evolve simply because its followers love participating in the meme culture with which it’s associated.

Dogecoin’s Limitations & Dogechain’s Strengths

This is where the Dogechain project comes into play. Dogechain is an EVM-compatible blockchain that runs on the Polygon Network. The Dogechain team created this blockchain to bridge over Dogecoin, allowing Dogecoin users to access the growing DeFi ecosystem.

Dogechain isn’t a Layer 2 network, nor is it associated with Dogecoin. Instead, it’s a kind of bridge that will let Dogecoin holders transfer their tokens to the Dogechain so they can buy NFTs, develop 

 apps and participate in various types of DeFi projects.

, the project aims to expand the use cases for Dogecoin by improving its utility. Consequently, Dogecoin users can participate in various types of DeFi projects by wrapping their DOGE tokens into Dogechain smart contracts to receive wrapped Dogecoin (wDOGE) 

 (PoS) tokens. These wDOGE PoS tokens live on the Dogechain network. If required, the wDOGE PoS tokens can be converted back to Dogecoin.

Here are typical use cases of wDOGE PoS tokens:

Besides these benefits, there are many other reasons why you may want to take a closer look at Dogechain. For instance, it offers a superior alternative to Dogecoin's proof of work (PoW) Scrypt mining algorithm. Dogecoin's algorithm is difficult to scale for mass usage, so the Dogechain bridge can solve such constraints.

Similarly, the existing setup of Dogecoin is extremely resource-intensive. It’s believed to consume 6.54 TWh to operate, which is equal to the energy consumed by a small country. The growth of Dogecoin means that it will leave a heavy carbon footprint. Dogechain deals with this dilemma by offering a less energy-intensive alternative.

Finally, the Dogecoin PoW consensus mechanism cannot scale fast enough to meet the demands of millions of simultaneous transactions. Therefore, it's the right time for a complementary blockchain that can perform quick transactions and enable 

Dogechain is a standalone EVM-compatible blockchain that relies on the 

 framework, which is specifically designed for building scalable Ethereum-compatible blockchain networks. Since the Dogechain is built with Polygon Edge, it retains some of the properties of its parent protocol.

Using the protocol has certain advantages. For instance, Polygon Edge is EVM-compatible. This means that developers can create tokens on the blockchain using the popular 

 protocol. Likewise, the framework enables Dogechain to use the PoS mechanism, which is faster, scalable and more 

 than the PoW used by Dogecoin. Above all, the framework boasts smart contract capability, allowing token holders to pay for gas with DOGE.

Dogechain also uses EVM, the Ethereum virtual machine, which is at the core of its operations. Using EVM, developers can quickly build and deploy solutions since they don't need to do everything from scratch.

Overall, the combination of the Polygon Edge framework and EVM helps Dogechain enhance Dogecoin to a level that isn't possible without integrating such high-end technologies.

It's also worth noting that Dogechain’s architecture is distinct from that of all other blockchains. While it's built using Polygon Edge, the blockchain doesn’t use Polygon's "security as a feature" function. Instead, it relies on its own sets of validators to achieve security. Similarly, the checkpoint mechanism and mainchain contracts features of Polygon are also disabled.

The cross-chain protocol is another important component worth discussing. It links the original Dogecoin blockchain to the Dogechain.

You can use the protocol to exchange DOGE with a wDOGE token. The protocol requires a ratio of 1:1 to achieve compatibility across cross-chain transactions. Whenever you peg a DOGE token, the Dogechain will mint a wDOGE token. Conversely, if you destroy a wDOGE token, you can withdraw a DOGE token to the Dogecoin blockchain.

Following are some of the primary features of the cross-chain protocol:

Dogechain is not in any way affiliated with Dogecoin. Instead, it's a separate project which aims to enhance the capabilities of Dogecoin by offering greater utility for Dogecoin. 

Since the relationship between the two different blockchains is often confusing, the founders of Dogecoin, 

, had to clarify the ambiguity caused by the launch of Dogechain.

The buzz surrounding the launch also forced the Dogecoin Foundation to 

 to their followers. For instance, a tweet on August 16, 2022, 

 "Claims in paid media that Dogecoin launched a ‘Dogechain’ test network are false. Neither @Dogecoin /@dogecoin_devs , nor @BillyM2k, @ummjackson or others associated with @DogecoinFdn are in any way affiliated with the token."

On August 26, 2022, a Twitter user named 

 Dogecoin developer and founder Markus has rejected an offer of 10 billion DOGE tokens to promote Dogechain, much to the happiness of the Dogecoin community. This amount is currently worth approximately $14 million.

While the two projects aren’t related to each other, the future impact of Dogechain on the Dogecoin token is fairly inevitable. Even before the launch of its official token, errant rumors that Dogechain is a Layer 2 network of Dogecoin pumped up the price of DOGE by nearly 11% in a single day. Since then, DOGE’s price has retraced its original trajectory.

While Dogechain has been confirmed to not be an official Layer 2 network of Dogecoin, it doesn't mean that investors have stopped taking notice of Dogechain — because the value of the project’s own native crypto, the DC token, has multiplied six times in the initial five days of its launch, from $0.0007294 to $0.004501. This clearly shows that investors are keenly watching the development, irrespective of the ownership.

Here are four important features of Dogechain to help explain how it plans to evolve:

 consensus allows everyone in the community to participate in the network without strict terms and restrictions, thus giving rise to a permissionless and decentralized blockchain. IBFT is one of the many flavors of 

, the proof of authority algorithm. In simple terms, it tries to overcome shortcomings of both PoW and PoS. Benefits of IBFT include immediate block finality, reduced time between blocks, high data integrity, fault tolerance and operational flexibility.

The main advantage of EVM compatibility is the ease of achieving 

 with the Ethereum ecosystem. Dogechain is EVM-compatible, which means that any existing Ethereum smart contracts are easily migrated to Dogechain without modification. Without EVM compatibility, it would be difficult for new users to build new 

Just like other decentralized protocols, the Dogechain framework is built around decentralization. This means that token holders can propose new projects, voice their opinions, influence decision-makers and vote on blockchain parameters.

The cross-chain compatibility between Dogechain and the Dogecoin blockchain is perhaps its most defining feature. When needed, you can easily wrap Dogecoin tokens via the Dogechain bridge, and use it to buy NFTs, participate in GameFi or create DApps. This cross-chain compatibility also ensures that you can convert DC tokens to DOGE, and send them back to the Dogecoin blockchain.

Dogechain is specifically designed for Dogecoin holders so they can easily gain access to NFTs, games and DeFi protocols and apps without abandoning Dogecoin. Let’s take a look at some of the following use cases.

 protocol allows Dogechain users to publish their own NFTs. You can think of ERC-721 as a more advanced version of ERC-20. It lets you integrate your NFTs into the existing NFT landscape.

Dogechain is an EVM-compatible blockchain, which means that it’s compatible with a wide variety of popular crypto initiatives. For instance, you can seamlessly integrate DeFi protocols such as 

 with Dogechain. Similarly, you can lock the native currencies, DC and wDOGE, in various liquidity pools.

You can also build an entire DeFi universe on the Dogecoin platform. In addition, Dogecoin holders can use wDOGE and DC cryptocurrencies to participate in virtual gaming events, or to share digital resources.

DC is the primary governance token for the Dogechain blockchain. Besides serving community initiatives, it will act as the "go-to-token" for fueling transactions, smart contracts and DApps in the wider DeFi ecosystem.

Unlike other crypto tokens, the DC token was pre-mined entirely upon the release of the Dogechain mainnet. In the first phase, 1,000 wDOGE tokens minted by the protocol were used to pay for the initial gas fee. Any additional wDOGE will be used to pay for transaction fees on the Dogechain blockchain.

After the first phase, DC will take over as the main token on the platform. The launch of DC occurred on August 24, 2022. According to the Dogechain website, three percent of $1 trillion, the total supply — or 30 billion tokens — will be 

 to early users. Fifteen percent of these (or 4.5 billion tokens) will be released immediately on September 1, 2022, while the remaining 85% will be unlocked monthly over the next 12 months.

 also mentioned that there will be future airdrops for Dogecoin holders to receive free DC tokens later this year, so you can certainly stay tuned to their 

Dogechain’s blockchain mainly uses the slashing protocol to safeguard itself from threats and malicious activities. The slashing mechanism not only protects the blockchain, but also penalizes dishonest behavior via disciplinary actions. Anyone can submit evidence of slashing. However, the evidence must be accompanied by proof, and is subject to fees.

While there are plenty of safety procedures in place, it's reasonable to suggest that Dogechain is still a relatively new infrastructure that’s prone to instability. Furthermore, since it's not a Layer 2 network of Dogecoin — and the founders of Dogecoin have explicitly said that they aren’t affiliated with this project — you must use necessary precautions when bridging to transfer assets.

Some of the original blockchains that focused primarily on payment processing are now looking for additional ways to scale. To solve the scalability issue, many of them have turned to Layer 2 networks.

Since Dogecoin also needs a solution in order to scale, the Dogechain project may be a blessing in disguise. In fact, Dogechain may be a better solution than a Layer 2 network, because it lets the Dogecoin ecosystem expand without using native resources. If you decide to invest in Dogechain, do so at your own discretion, and as always, do your own research.

What Is Dogechain — And How Does It Relate to Dogecoin?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards