Besides the skyrocketing AUCTION, what other "golden shovels" are worth paying attention to in the market?

Author: Kaori

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

In 2020, benefiting from the innovations driven by DeFi Summer, a number of CEXs successively launched the "new coin mining" feature, a new way that combines IEO with DeFi liquidity mining. When a new project is launched on a CEX, users no longer need to "spend money" to grab the allocation; they can obtain new assets by staking the assets specified by the trading platform. Compared to spot trading, the cycle for new coin launches is shorter, and the return on investment is more astonishing, which is why platform tokens were once hailed as the "golden shovel" for acquiring new assets.

Subsequently, there has been a surge in DeFi innovations such as LSD and Restaking on Ethereum, but the Bitcoin ecosystem has yet to see large-scale similar financial applications. Currently, inscriptions have successfully transitioned from the primary market to the secondary market, and the next step is to think about how to leverage the market heat of inscriptions to continuously empower the financial facilities of the Bitcoin ecosystem.

BlockBeats has compiled a list of new "golden shovels" currently in the market, which are continuously 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 across multiple blockchain networks.

On November 12, Bounce Brand completed the Launchpad for the bridging protocol MultiBit (MUBI), with an IDO price of $0.00047, raising 88 ETH, during which it returned over 80 times. On November 29, Bounce Brand launched the public sale of the token BSSB for the Bitcoin-based cross-chain DeFi protocol Bitstable; on December 4, BSSB broke $1.6, with a 24-hour increase of 89.58%, setting a new 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, powered by Binance Bitcoin (BTCB). BTCB is a BEP2/BEP20 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, which is a DID service platform Bdid (BDID) on BTC L2. There are three participation modes: using AUCTION to purchase lottery tickets for a draw, staking AUCTION to proportionally obtain allocation, and staking stablecoin DAII to proportionally obtain allocation. After the auction, BDID was listed on Uniswap, with DEX trading volume exceeding $12 million.

Today, Bounce Brand announced that Bounce Launchpad will soon adopt a "two birds with one stone" strategy to launch token issuance, with two independent teams jointly issuing one token. The project identity is confidential, and participation is conducted using AUCTION and BitStable's stablecoin DAII, with two auction pools set up. As a result of this news, the price of AUCTION surged significantly, with a 24-hour increase of 47.5%, reaching $37.82 before publication.

TurtSat (TURT)

TurtSat plays a similar role to Bounce Brand, as a newly born asset issuance platform, community-driven Ordinals open platform, with the mission to become the Gitcoin of the Ordinals world. Anyone can build and donate to Ordinals ecological protocols through TurtSat, participating in the ecological construction of Ordinals and benefiting from it. Its native token is TURT.

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

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, while effectively preventing bots from using scripts to seize large shares of donations, allowing TURT holders to participate and obtain their rightful interests.

After users complete TURT staking, TURT POOL will record the number of staked tokens and staking time (block confirmation time/network confirmation time) in real-time for the corresponding address and will calculate and release EGGS in real-time. EGGS is a new asset issued by TurtSat, with application scenarios 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 exchange for new project whitelist quotas.

BitStable (BSSB)

BitStable (BSSB) is a decentralized asset protocol based on the Bitcoin network, allowing anyone to generate DAII stablecoins against collateralized assets in the Bitcoin ecosystem from anywhere on the platform. BitStable features a dual-token system and cross-chain compatible structure, with tokens being DAII and BSSB.

DAII is the US dollar stablecoin issued by BitStable, with a total supply of 1 billion. Users can obtain it by staking ORDI or MUBI on the BitStable official website, and the project team has also issued some DAII on Ethereum for direct purchase.

With the great success of BitStable's Launchpad on Bounce, DAII has also participated more in Bounce's related projects. As mentioned earlier, staking DAII is one of the options to participate in the Bdid (BDID) Launchpad on Bounce, and the latest round of Launchpad on Bounce also allows participation through staking DAII.

BSSB is the governance token of the platform, used by the community to maintain the system and manage DAII. BitStable will also incentivize BSSB holders through dividends and other measures. The total supply of BSSB is 21 million, of which 50% will be publicly sold on Bounce Finance, the team will hold 5% of BSSB (with a 6-month lock-up and 15-month linear unlock), airdrop allocation 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 EVM networks, 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 EVM networks. First, users transfer BRC20 tokens to a dedicated BRC20 address. After confirmation, the Multibit protocol begins to operate, minting an equivalent amount of tokens on Ethereum or BNB chain. The Multibit Protocol collects tokens from all distributed unique addresses. These tokens are securely transferred to a unified cold wallet. When users need to withdraw tokens, the Multibit Protocol will burn the corresponding amount of tokens from the EVM chain, and then transfer the equivalent tokens from the secure cold wallet to the users.

MultiBit completed its IDO auction on Bounce Brand on November 12, raising 88 ETH. On November 4, it completed another IDO on TurtSat at the same price, raising 4.64 BTC. The total fundraising from both events is approximately $350,000.

Its native token MUBI saw a 24-hour increase of 43.7%, reaching a price of $0.323 before publication. Additionally, MultiBit users staking MUBI tokens not only have governance rights but 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 that has emerged: the Web 3 phone Saga launched by Solana Labs.

The Saga phone was initially launched on May 8, 2022, at a price of $1,000, positioned as the flagship Android phone of the Solana ecosystem. This 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 crypto applications and a secure element for storing the private keys of crypto users, thereby separating this sensitive data from other data on the phone. On August 10, the price of the Saga phone was announced to be reduced from $1,000 to $599.

Recently, the Solana-based MEME token Bonk surged, and each Solana Saga phone is entitled to receive an airdrop of up to 30 million BONK tokens, which has seen its price on eBay soar by 500%, reaching as high as $3,000.

On December 17, Kyle Samani, co-founder of Multicoin Capital, stated on social media that he expects a large number of airdrop activities for Solana phone Saga owners in the next 12 months. Yesterday, the Solana ecosystem meme project Samoyedcoin announced that it would distribute SAMO token airdrops to Saga phone holders, with specific airdrop details yet to be announced.

Other Ecosystem "Golden Shovels"

onUP (UP)

TonUP is an asset issuance platform based on the TON blockchain, primarily discovering and nurturing promising projects in the TON ecosystem, providing community users with IDO investment opportunities for high-quality projects in the TON ecosystem, as well as support for TON ecosystem projects and corresponding ecosystem construction. Additionally, TonUP can provide marketing, DEX, and Staking services for IDO projects, increasing project exposure and access to resources, and ensuring a good reputation and market heat for the projects.

TonUP launched in August 2023 and completed its first IDO project token issuance at the end of the same month, helping the 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 is scheduled for December 20, with the price of 1 UP token set at 0.05 TON. On December 14, TonUP publicized the token economics, 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. As the first IDO Launchpad project officially recognized by the Sui public chain, SuiPad serves as an intermediary connecting new projects in the ecosystem with early investors. Its goal is to select the best new projects on the Sui blockchain for users through a unique curation process and industry entry standards while raising funds for early projects.

Like most Launchpads, the primary utility of SuiPad's native token SUIP is also to assess user loyalty, determining the user's loyalty level based on the amount of SUIP staked and the staking duration, thereby filtering different levels of membership access.

In other words, to obtain specific level qualifications, users must stake a corresponding amount of SUIP tokens for a specific duration on SuiPad. The more SUIP a user stakes, the higher the level they can achieve, increasing their chances of obtaining allocation quotas for IDOs on the platform. It is worth noting that there will be a 15-day cooling-off period after staking.

The higher the membership level on SuiPad, the greater the opportunity to obtain investment quotas for scarce projects, and higher membership levels correlate positively with the amount of SUIP tokens held and the staking duration. This means that the larger the number of SUIP tokens held and the longer the staking time, the higher the level achieved, and relatively speaking, the greater the probability of winning the allocation for participating in the platform's IDOs.