Hi, ZK Astronauts!
Together with crypto exchange Dcoin, fintech company New Bloc, and popular gamefi project X Rush, we held an in-depth AMA in the ZKSpace official Telegram group on May 6, exploring Top Blockchain Trends to Watch in 2022. Below is a recap of the AMA for your reference.
Hi, ZK Astronauts! Welcome to join today’s AMA, exploring with us Top Blockchain Trends to Watch in 2022. I am ZKSpace Community Manager and am very excited to introduce our distinguished guests - Amei, COO of crypto exchange Dcoin; Mika, COO from fintech company New Bloc; Lay, COO of popular gamefi project X Rush, and Isaac Lee, CIO of full-featured Layer2 platform ZKSpace.
By holding this AMA, each of the team will give massive rewards of different kinds to active and lucky participants, including the ZKSpace x James Rodríguez NFT Whitelist spots, ZKS tokens, trial funds of Dcoin contracts, XOX tokens, DS tokens, etc.
Before we dig into the trends in the blockchain industry this year, please introduce your team to let our community know more about you. Let’s start with Dcoin.
Dcoin: Dcoin was established in Switzerland in March 2018. It is the largest compliant exchange in Switzerland, and also the world’s first financial-grade digital asset and derivatives trading platform. Using the world’s leading technical framework, users can feel the ultimate in Dcoin. experience. Various factors such as huge daily activity and rich heritage have helped Dcoin to rush to the top 20 non-small accounts all the way. Dcoin is mainly divided into the following four major sectors: currency trading, contract trading, OTC, and one-click copying.
Moderator: Thanks Amei for the detailed introduction. Can you explain a bit more about the advantages of Dcoin, considering the fierce competition among exchanges?
Dcoin: To begin with, Dcoin exchange has been established for almost 5 years, and the perpetual contract has been launched for 2 years. It has accumulated tens of millions of users, and the winning rate of user contract trading is 30% higher than that of other exchanges! This is thanks to the two major policies that the platform provides users!
The platform provides users with a one-stop service. With the assistance of professional tools, it has millions of levels of depth, matching in milliseconds, and continues to choose high-quality and popular currency contracts for users, greatly improving the user’s return on investment.
It is planned to launch a copy order system, and users can choose a professional trading teacher to copy orders according to their own needs. Professional transaction analysis enables users to have a clearer direction in contract transactions and escorts the user’s asset appreciation so that contract transactions are also maximized asset investment returns.
Moderator: That’s impressive. Ms. Lay, can you introduce the X Rush project to the community?
X Rush: Sure! So X Rush is a casual play-to-earn game designed to provide players with a fun gaming experience by racing & shooting in multiple universes. Users can collect their favorite racers and customize racing cars to compete with other players on the leaderboard.
X Rush is developed by Unity 3D and is also compatible with Web3 wallets such as TP Wallet, Trust wallet and etc. We aim to form a great gaming community, letting players not only enjoy the fun of the game but also be a part of it, contribute, and of course, earn the rewards.
We have been working extremely hard on X Rush for a long time, and have just finished our public beta test1, the game is now available on both iOS and Android. And very very soon we are going to do the public IGO on the Kucoin platform.
And last, for the team, most of the team members joined the gaming and crypto space around 2018, and most have worked in managerial roles or above at well-known organizations like Binance, OKEX, and Huobi. We also have a private game team for game development.
Moderator: Gamefi is indeed one of the biggest trends to watch in 2022. I’ve just learned that X Rush is doing the IGO on KuCoin in about a week. Can you tell us more about it?
X Rush: Of course! We’ve been working on the IGO for quite a long time and we are very excited to announce that the IGO will take place on KuCoin in about a week and total of 9,500 X Racer nonfungible tokens (NFTs) will be on sale.
The X Racer NFTs are a set of 10,000 profile picture-utility NFTs on KCC — with 500 for whitelisted users — including humans, zombies, apes, aliens and more with different rarities. The art for each X Racer NFT is hand-drawn by the artist who previously worked on projects such as League of Legends, MU: Awakening, True Red Blade and Red Alert Online, among others.
The X Racer NFTs represent unique customized characters in the game, each with an exclusive combination of headwear, glasses, accessories, outfits, a race, a gender and more. Holders of these X Racer NFTs will be rewarded with a number of perks, which include access to NFT holder-exclusive testnet campaigns, a passive income of 50 XOX tokens per day — subsequently halved every 50 days — the ability to display and feature a profile picture NFT as a unique profile picture in the game, the right to generate invitation codes and invite friends to participate in a variety of reward-given campaigns, and more.
Most of the X Racer NFTs shall be sold as mystery boxes at 299 Tether (USDT), while some of the rare NFTs in the collection will be sold via an auction mechanism.
We will reveal the details very soon, remember to join our Discord and catch the latest news of IGO.
Moderator: How exciting! Now let’s invite Mrs. Mika to introduce the New Bloc team to the community.
New Bloc: Hello, everyone! New Bloc is a data and artificial intelligence-driven fintech company with a focus on crypto hedge funds, electronic market making and growth consulting. New Bloc has accumulated rich industry experience and a good reputation in the industry. Through data and artificial intelligence, it explores the laws of massive financial time series data in the asset market, and drives transaction decisions to obtain the maximum unit risk-return.
Moderator: As New Bloc is experienced in crypto and blockchain investment, may I ask what kind of investment opportunities you recognize in 2022?
New Bloc: Recently, the GameFI track is still very popular, because the concept of “play to earn” is very suitable for the current thinking of investors. We also invested in a project in this track last year, which can be shared with you. This project is Dress Show, a blockchain drag game. It is still in the early stage of investment, if you are interested, you can pay attention. Of course, the market is rotating, and there are many investors who are optimistic about the Web3 track. We are also planning for the Web3 track. Institutional purchases of #Bitcoin, the US continuing to put USD in the market and a flood of funds have led #Bitcoin to enter an uptrend over the past two years, especially foreign investors have started to see #Bitcoin and altcoins as investment vehicles. It can be said that while the market is volatile, GameFI and Web3 are still tracking to watch.
Moderator: There has been a lot of news around ZKSpace recently. Mr. Lee, can you share with us what the team is currently working on and what can we expect next?
ZKSpace: It has been nearly five months since we rebranded from ZKSwap to ZKSpace, a full-featured Layer2 platform covering DEX, NFT, and Payment, i.e., ZKSwap, ZKSea, and ZKSquare.
The rebranding shows our vision of building a more completed usable Layer2 ecosystem and our team has been developing new products and functions to bring Layer2 users a seamless product experience and lower the threshold for users to enter the Web 3.0 world.
This includes the release of the ZKSpace Mobile APP on iOS and Android, more language options for the ZKSpace Web APP to cater to the needs of global ZK Astronauts, upgraded UI and UX designs, various reward-given campaigns to help users understand Layer2 products better, and so on and so forth.
Moving forward, our team is working on the cutting-edge payment instrument ZKSquare to provide a cheap and fast batch payment tool for everybody; an NFT collection display feature on ZKSea, allowing users to showcase all the items in their collections; and the upcoming launch of the ZKSpace x James Rodríguez NFT series.
Moderator: Amazing progress in such a short period of time! I believe many users would be interested in the new features you just mentioned. Can you explain them in detail?
ZKSpace: Sure. Basically, the Batch Payment tool allows you to send funds to multiple addresses at once. It would be an efficient tool, and it is worth mentioning that there is no such product on the market for batch payment and issuing airdrops currently. We are developing this feature to solve the problem of high cost and slow confirmation of Layer 1 transfer, showcase the Layer 2 advantage of instant confirmation and low gas fees, and offer an option for batch payment and airdrop distribution.
As steps to optimizing the Layer 2 NFT marketplace ZKSea, we are working on a collection display feature. You will be able to browse all the collections on ZKSea, be it the collections created by users or the collaborative collections issued by the platform. You will be able to search NFT collections by keywords, too.
Finally, those who have followed our Twitter might have been informed that James Rodríguez will issue 1,500 limited edition NFTs on ZKSea in the form of auction and mystery box. The NFTs are finely designed with memorable moments of James Rodríguez and his signature. They fall into four tiers and the lucky ones who have successfully won the first tier will receive big surprises from James Rodríguez. We will keep that a secret for now. For those who have obtained NFTs of other tiers, we have also prepared rare James Rodríguez related gifts, so be sure to stay tuned and join this one-of-a-time event on time.
Moderator: James Rodríguez is indeed a legendary player. I’m sure this would be inspiring news for not only the football fans but also the NFT industry. Thank you all for the introduction. Back to the topic, what would be the biggest trends in blockchain this year? Would it be contracts, gamefi, NFT, Layer 2, or all of them? Before the AMA, each of the team gathered three questions from their community. Let’s see what users have asked about today’s topic. To all the audience of the AMA, if your question is put forward in the following session, don’t forget to claim your rewards afterward. ZKSpace now offers three whitelist spots and a 900 ZKS reward pool as the AMA prize, New Bloc gives away 500 DS tokens to the lucky users, Dcoin gives away 6,600 USDT worth of contract trial funds (66 USDT each, and for the first 100 users only), and X Rush offers 300 XOX (3 users in total, and 100 XOX each).
Moderator: The first community question comes from Crypto Boy (@Crypto_Isaac):
“Move2Earn seems to be the new trend in 2022, taking over from Play2Earn, then suddenly we hear of Watch2Earn, Sleep2Earn. Do you believe this new trends are a fad or the future?”
ZKSpace: It’s a good question and that’s what happens now. For users who find Web3.0 difficult to understand, the X to Earn model can be regarded as a simple way to enter the crypto network, where people work and collaborate in decentralized automated organizations (DAO).
Take mining as an example. Before the emergence of Play to Earn/Move to Earn/Learn to Earn, mining was already a way of X to Earn. Miners will be rewarded after verifying transactions and contributing computing power.
Some of the users may also participate in ZKSpace’s PoL and PoT mining of ERC20 tokens and NFTs, splitting daily rewards by swapping or providing liquidity.
In my view, X to Earn is an effective way to let users receive fair economic returns through active interactions with the products.
Moderator: The second question from RITESH TRIVEDI (@goldysae) is about Layer2 use cases:
“I want to know the future use-cases of all the L2’s in the space.”
ZKSpace: To begin with, let me explain why Layer2 is needed. Layer 1 refers to the blockchain mainnet such as Ethereum and Bitcoin, while Layer2 is used for blockchain scalability built under the mainnet.
It is undeniable that with increasing demands for Ethereum transactions, the Ethereum chain often becomes congested, resulting in high gas fees and a long confirmation time. By utilizing Layer2, all these problems can be solved without breaking the integrity of Ethereum.
Among all Layer2 solutions, ranging from state channels, side chain, Plasma, Optimistic Rollups, ZK-Rollups, etc., we’ve chosen the ZK-Rollups technology as compared with the Ethereum mainnet, it can reduce the gas fee to a great extent, support higher TPS, and is believed to be securer than Optimistic Rollups.
Having said that, Layer2 can be used for NFT marketplaces, digital asset exchanges, domain name services, payments, airdrops, crypto city/land building in the metaverse, and so on and so forth.
Moderator: The third question is from icarusli.near (@icarus_li):
“What is the future of zk scaling?”
ZKSpace: Similar to the last question, I believe ZK Rollups will be the first choice of scaling solution in the future. When comparing ZK Rollups with Optimistic Rollup, many people have chosen the former, because it is safer, and security is what we regard as the most crucial element.
The core idea of ZKS Rollups is to use cryptographic proof to ensure the state consistency of the base layer and layer 2. It proceeds transactions off-chain and stores data on-chain, making transactions considerably faster and cheaper than the mainnet.
On the other hand, when using Optimistic Rollup based platforms, users need to wait for a long time for transactions to be confirmed, because challenges need to be brought forward before the data can be submitted to the mainnet, Since bringing out challenges requires a specific knowledge base, this makes this kind of validation almost meaningless.
In the short term, Optimistic Rollups may have the advantage of being compatible with EVM, however, with ZKEVM being developed, in the long term, ZK Rollups will, by all means, be a more scalable and powerful scaling solution.
Moderator: Under the current market conditions, what indicators should investors use to screen out high-quality assets worthy of investment? (@KJSS)
New Bloc: Recently, many people feel that it is a bear market, but they tend to ignore the “buy low” node in the investment strategy. There are many people who feel that they did not make any money in a bull market, but lost a lot of money in a bear market. My suggestion is that you can analyze some coins you are optimistic about in the bear market to see what stage their current price is in. If it is the bottom stage, then it is very worthwhile to enter. If there is no long-term investment plan, then I think setting a reasonable stop loss point, such as selling at 10%, can minimize the risk.
Secondly, the investment market would like to talk to you about the “Two Eight Rule”. The rule is that someone thinks that only 20% of the people in the market can make money, first of all, I think every seasoned and prudent investor can even be included in the 70% winning part in my opinion, not 20% because One of the first rules investors should be aware of is to always be balanced and stay on top. After that, patterns and chart reading play a key role in this market, as patterns do not fail, do not require very high volumes, and investors should know where to buy and then sell.
Moderator: Do you think there are any quick ways for investors to increase their assets? (@shineing)
New Bloc: I think participating in airdrops is a good option. Investors can find some newly issued coins on CoinMarketCap. Usually, such coins will hold airdrop activities. In addition, they can also find projects that can receive airdrops in the recommendations of some bloggers. The method of obtaining this airdrop is also relatively simple, and you only need to do some simple tasks. In addition, you can also participate in some games that can make money in the GameFi field, and there are some games where players can earn some rewards when they play games. Wealth can accumulate and investors can’t be too impatient.
Moderator: What stage do you think the current market is in, and how long will such a volatile market last? (@shat)
New Bloc: Market transitions are always painful. The bear market begins and the bulls create the illusion that you wait for the fomo. When you fall, you add, and when you add, it falls. Then you think the market will never get better. The bear market has begun to mature. But then technology began to recover, and the train announced its departure at the station. Then the train went to the 3rd and 4th stations and started saying “the bull is here”. However, the bull has matured. Can I tell you the biggest metric in this regard? It is also completely available and free. Follow the broad market and the vast number of investors and friends. If everyone on the Telegram group and on Twitter believes the bulls are buying fearlessly, it’s time to sell slowly. If everyone is convinced that a bear market is coming and no one is paying attention to the coin, then the bear market is ripe and it is time to buy.
Moderator: The next two questions are for Dcoin. Is the Dcoin platform safe? What are the advantages of Dcoin’s contract products?
Dcoin: Dcoin has a leading technical framework to provide users with a high-quality trading environment, and has always been centered on the core concept of customers obtaining high-return investment returns.
Technically, the Dcoin technical solution is based on Google Cloud and Amazon AWS, which can effectively prevent DDOS and other attacks, support the separation of dynamic and static data, support hotspot data caching, support remote disaster recovery, support parallel expansion, and through a series of detection and optimization, effectively avoid common mistakes and loopholes, and protect user transactions with financial-grade security technology standards. At the same time, the customer service is online 24 hours a day, providing services to users with extremely high efficiency
In addition to good depth and matching, contract products also have rich functions: one-click position closing, reverse position opening, planned order, take profit and stop loss, multi-position mode and the soon-to-be-launched copy order system.
Moderator: Asset security always comes first and Dcoin is certainly doing a great job. The last part is for X Rush. And we gathered three questions from the community. The first one is from @Nazmun_1010:
“Are you planning to promote your project in countries/regions where English is not good? Do you have a local community for them to better understand your project?”
X Rush: Yes, we already promote X Rush all over the world, like Vietnamese, Korea, Russian, Italian, Turkish, Filipino, Indonesia etc. We did AMAs in the local communities, did giveaway events with them, and published a number of local articles, if you follow X Rush Twitter or in the Discord & Telegram Community, you may see it. We will continue to work with these local communities to get more people to learn about X Rush and start playing to earn.
We opened local language channels in Discord, users whose English is not good can join these channels and communicate with Other players.
Moderator: Globalization and localization are truly important for crypto projects. The 2nd question is from @CryptosNFT:
“Many games today set high costs to start the game & therefore start with a small player base. Does X RUSH an entrance fee or starting conditions & if so what are they? Do I need to hold an NFT or hold a certain amount of tokens in order to enjoy & play the #X RUSH Game?”
X Rush: X Rush players need to have at least one X Car to start the game. X Cars can be purchased through the XOX token, or you can participate in our Discord and Telegram campaigns to get one for free, or you can invite friends to get a free X Car.
Invite a user through the app to buy 1 X Car to get a Lv.0 X Car. The more invitees buy, the higher level of X Car you get. The more invitees purchase, the higher level of X Car you will get. If your friends purchase more than 1499 X Cars, you will get a Tesla Model 3!
Moderator: Such a positive economic model! And the 3rd question is from @CamberesDselva:
“A big problem of the NFTs communities is a poor control of the supply and circulation of the native tokens that lead to a terrible devaluation, could you explain us the circulation reduction strategies of Crypto piece and how they hope to maintain it in the long term?”
X Rush: For the benefit of all game players, X Rush decided to adopt the following deflation method:
5% of all Token transaction amounts in the app will be automatically destroyed;
The passive income of the X Racer will be halved every 50 days;
A quarterly Token burning mechanism will be introduced after the Mainnet launch.
In addition to this, we will also launch the Staking mechanism and so on in the future. I believe the team’s funding and strength will not let you down.
That’s all for today’s AMA. Thanks for sharing your time and opinions with us. If you are interested in any of the above projects or have questions regarding the rewards, join the TG group and talk with one of the admins.
The all-new ZKSpace platform consists of three main parts: ZKSwap, the innovative Layer 2 AMM DEX utilizing ZK-Rollups technology, payment service ZKSquare, and an NFT minting center and marketplace called ZKSea. With an all-new-look user interface, unlimited token listing, NFT support, smoother withdrawal, optimized efficiency, and multi-chain support, ZKSpace aims to implement EVM-compatible ZK-Rollups and bring the community more layer 2-based products in the near future.