GameFi-Oriented MARBLEX Decides to Burn 670M MBX Tokens

OmniBOLT to Support BRC-20 Tokens on LightningSingapore’s OmniBOLT, a project that’s developing technological solutions within bitcoin’s layer two network environment, has outlined that it will support BRC-20 tokens on Lightning Network.Before we consider precisely what OnmiBOLT's decision to support BRC-20 tokens means, let’s cover the backstory.Photo by Sander Weeteling on UnsplashBRC-20BRC-20 is an experimental token standard which was created by an anonymous developer with the handle “Domo”, and username ‘@domodata’ on Twitter. A token standard governs how and where a cryptocurrency can be used. The approach has been pioneered by developers on the Ethereum blockchain who created the ERC-20 standard a number of years ago, relative to the Ethereum network.A bitcoin evolutionIn this instance, BRC-20 is a fungible token standard designed for the bitcoin blockchain. Bitcoin development is very slow and conservative, and deliberately so, in an effort to put network security first. However, it has had two major upgrades over the course of the last few years, namely SegWit and Taproot.Many in crypto have been critical of the bitcoin project on the basis of it being a pet rock that lacked features and the flexibility to use it in other ways aside from as a store of value or means of exchange. However, those protocol upgrades have led to further development that is expanding bitcoin’s use case and versatility.SegWit and Taproot enabled the development of Bitcoin Ordinals in January 2023. Ordinals provide a means to create Bitcoin non-fungible tokens (NFTs), by attaching data to individual satoshis, the smallest denomination of Bitcoin. NFTs created this way are immutable as they’re not created on side chains but on the bitcoin blockchain itself.In a fast moving scenario, the development of Ordinals led two months later to the emergence of the BRC-20 standard. BRC-20 tokens can be stored on the bitcoin base-chain, built with the assistance of Ordinals. BRC-20 is an exciting development as it stands to enable smart contract capabilities relative to bitcoin.Solving the bitcoin fee issueMany see this development as a solution for the longer term fees issue that the bitcoin blockchain will have to overcome. Bitcoin miners are compensated in mining rewards but the level of rewards is being cut in half every four years. The concern is that in the longer term, there may not be enough revenue for miners to continue to secure the network effectively.With the development of Bitcoin Ordinals, more fees are generated, and so this is seen as a means through which the network can sustain itself over the longer term.Mempool backlogSo what’s not to like? The issue that has arisen over the past few days is that bitcoin transaction fees have hit a two year high. Over the past few days, there have been in excess of 400,000 unconfirmed bitcoin network transactions sitting in the mempool. The mempool is a mechanism within the bitcoin protocol that stores the data relative to a queue of transactions that are waiting to be confirmed.Relieving pressure on bitcoinThat brings us back to the significance of the Singaporean team of developers at OmniBOLT deciding to support BRC-20 tokens on the lightning network. That move can relieve the pressure on the bitcoin mainnet. The project is being backed by Waterdrip Capital, Danhua Capital, Redline DAO and others.Bitcoin has been a boring protocol and many have celebrated that fact as a feature and benefit for a network that serves a couple of vitally important use cases exceptionally well. However, development never stops and it’s fascinating to see another side to the protocol unfold, and all the while, it’s not entirely clear where it will end.

Com2uS Holdings subsidiary Com2uS Platform has acquired a certificate of Personal Information and Information Security Management System (ISMS-P), an official certificate distributed by the Korea Internet and Security Agency (KISA), for its blockchain-based game development platform Hive.Photo by Towfiqu barbhuiya on UnsplashStreamlining game developmentHive allows developers to focus on content development by providing functions for game launch and operation in a single software development kit (SDK). It covers all systems needed to run a game, including billing, gameplay across multiple platforms, global login and verification, compliance, support, analytics, promotions, push notifications, community management and blockchain middleware. It is utilized in over 150 games and 41 corporate clients with some 100 million annual users. Robust security measuresTo receive the ISMS-P certification, companies are evaluated based on 101 different criteria, including organizational structure, management of employees and facilities, security of information processing systems and more areas related to handling personal information. "Com2uS Platform and Hive have established and promoted world-class security policies," said Choi Seok-won, CEO of Com2uS Platform. "We will continue to do our best to create an environment where users and customers worldwide can safely enjoy our content." Com2uS Platform also revealed that it runs an office dedicated to information protection, which manages data from Com2uS games and external clients. The company also strives to improve its technological capabilities for enhancing security and conducts annual company-wide training for all employees to raise security awareness. Since 2017, Com2uS Platform has retained its ISMS certification – similar to the ISMS-P but without personal information security standards – to safeguard the information of its users and customers.  

Titi Financial Announces $TITI AirdropTiti Financial, the team behind Titi Protocol, a project that aims to further its $TiUSD algorithmic stablecoin, announced that it is currently distributing the first round of airdrops of its $TITI governance token.Taking to social media, the Singapore-based project encouraged interested parties to check their eligibility for the airdrop on the project’s website. In a Medium blog post, the project stated: “In order to give back to the users who have supported us all the way, TiTi protocol has decided to conduct the first round of airdrops to community users.”An algorithmic stablecoinTiTi Protocol is a decentralized, 100% collateral-backed, ‘use-to-earn’ algorithmic stablecoin. It aims to provide diversified and decentralized financial services based on the crypto-native stablecoin system, with an autonomous monetary policy.Alongside $TITI as the project’s governance token, $TiUSD is the accompanying stablecoin issued by TiTi Protocol.Initial DEX offering (IDO)The airdrop runs until May 9. Once that process has been completed, the project intends to launch on mainnet through an initial DEX offering (IDO). IDO volume will be 10 million $TITI, 1% of total issuance, with an initial price per token of $0.06.Launching on the Ethereum blockchain, the IDO commences on May 10, with the sale running until 8:00 UTC on May 13. Buyers have until 08:00 UTC on May 14 to claim their tokens. Total token supply has been set at 1,000,000,000 $TITI. Purchase amount parameters have been set, with a minimum to maximum range extending from $100 to $3,000. The $TITI token can be purchased using USDC, USDT or DAI stablecoin. The project has advised participants to prepare by having an Ethereum compatible wallet available, such as MetaMask, Gnosis Safe or WalletConnect.$3.5 million fund raiseLast month, the project disclosed that it had been successful in raising $3.5 million in funding. The funding round was led by California-based Spartan Group, a blockchain advisory and asset management firm. Other venture investors included SevenX Ventures, Incuba Alpha, DeFi Alliance, Agnostic Fund, Fourth Revolution Capital and Solidity Venture. A number of individual investors associated with Alpha Venture DAO and 0x1b from Fold Finance also participated.Overcoming algorithmic design shortcomingsIt’s interesting to see a renewed interest in algorithmic stablecoins after the epic collapse of Terra Luna in 2022. Additionally, it’s noteworthy that an institutional investment appetite exists given that backdrop. Lead investor Spartan Group cited the depegging risk alongside poor liquidity as being a known problem where algorithmic stablecoins are concerned. However, the investor believes that the Titi Protocol has the necessary design elements incorporated to counteract these issues.One of the key features of the protocol is that liquidity providers only need to provide single sided liquidity to Titi automated market makers (AMMs). The protocol itself covers the other side of that process, doing the math to mint the equivalent value of TiUSD.In April, the project also announced a partnership with Alpha Venture DAO. The decentralized venture capital fund is financed by its own community. Furthermore, Titi Finance can call on the expertise and skills of the DAOs members.Photo by CoinWire Japan on Unsplash