Overview

This article summarizes key developments in the blockchain industry, including the ecosystem development following ApeChain’s launch, Cardano’s integration with BitcoinOS to unlock Bitcoin liquidity, and GOAT’s market capitalization fluctuation and rebound due to a spelling error. Additionally, the article mentions that the blockchain data network Chainbase ranks first among popular Web3 projects and discusses the token distribution plan for AtomOne, a fork of Cosmos Hub. Through this overview, users can quickly understand the latest progress of various projects and their impact on the ecosystem.

The table below provides a summary of the mentioned projects:

Projects

ApeChain Demonstrates Impressive Post-Launch Performance with Surging Transaction Volume and Rapid Ecosystem Growth

After ApeChain’s launch, trading volume grew rapidly, with 1,204 contracts and 45 token contracts deployed in the initial batch. According to the official announcement from the multi-chain DEX Camelot, trading volume reached $25 million within the first 12 hours of ApeChain’s launch. An official follow-up reported that the ecosystem’s token-launch platform, Ape Express, surpassed $1 million in trading volume within one hour of going live. Additionally, the market value of the ecosystem’s meme token, CURTIS, exceeded $14 million.

Furthermore, ApeCoin has introduced an automatic yield mode where users holding ApeCoin on ApeChain don’t need to claim or stake their tokens to increase their earnings continuously. This mode is the default for all EOAs (Externally Owned Accounts), automatically generating yields with each block. ApeChain also offers an automatic yield mode for ApeCoin holders, where stablecoins bridged to ApeChain are converted to DAI and deposited into sDAI, accumulating yields based on MakerDAO’s savings rate.[1][2][3]

However, the ApeChain ecosystem has also encountered some issues. A co-founder of g8keep fell victim to a phishing attack on ApeChain, resulting in a loss of approximately $110,000. Pop Punk, the co-founder of g8keep, a Web3 security and transparency platform, posted on social media that he became the first person to have funds drained due to a phishing attack on ApeChain.[4]

GOAT’s Spelling Error Triggers Panic Sell-off, Yet AI Meme Token Craze Persists

GOAT originated from promoting an AI-driven semi-autonomous robot called “Truth Terminal.” For a more detailed introduction to the GOAT token, please refer to Gate Research Institute’s introduction from last week. [5]

On October 20th, a spelling error appeared in a post published by the project, misspelling “group” as “grouops.” This sparked community doubts about the AI’s true intelligence. The incident caused GOAT’s market capitalization to plummet from $500 million to $250 million, with the price bottoming out at $0.1447. However, GOAT swiftly rebounded, recovering its market cap to over $380 million. [6]

In this wave of enthusiasm, several derivative tokens have emerged. $slop, an art image created by an AI robot named namshub, saw its market value experience dramatic fluctuations—plunging from $18 million to $6 million before surging to $30 million. [7] Other popular tokens like GNON and fartcoin have also carved out their niches. GNON combines AI and religious concepts, while fartcoin is considered the “beta version” of GOAT. These tokens’ rapid changes and innovative concepts have captured investors’ attention, showcasing the potential and vitality of the AI Meme coin sector in the crypto market.

Cardano Integrates BitcoinOS, Unlocking Bitcoin Liquidity for Its DeFi Ecosystem

Recently, Cardano announced the completion of its integration with the BitcoinOS smart contract platform. This move aims to provide Cardano users with a secure, intermediary-free channel to access Bitcoin assets directly. The core of this collaboration is the BOS Grail bridge, which utilizes BOS’s ZK BitSNARK verification protocol to offer trustless cross-chain connections. Through ZK technology, BTC transactions and assets can be securely bridged to the Cardano blockchain, enabling native Cardano DeFi projects to use Bitcoin without compromising decentralization or security. [8]

This integration represents a major leap forward in cross-chain functionality and DeFi expansion. Bitcoin’s limited smart contract capabilities have historically kept it isolated from other blockchains. However, by harnessing ZK technology, Cardano can now seamlessly integrate Bitcoin assets into its ecosystem without compromising the security of the Bitcoin network. This breakthrough not only boosts Cardano’s multi-chain compatibility but also injects more liquidity and asset diversity into its DeFi projects. As a result, Cardano is likely to attract a larger pool of developers and users. Moreover, this trustless cross-chain bridge significantly reduces third-party risks in the DeFi sector, paving the way for more transparent and efficient transactions. \

Chainbase

Chainbase, a blockchain data network, has recently claimed the top spot among popular Web3 projects. The company secured $15 million in Series A funding in late August. Chainbase aims to provide a transparent, reliable, and permissionless data layer through its omnichain data network for the AI era. Using modular design simplifies the construction and use of data models while achieving cross-chain data interoperability and programmability.

Chainbase’s omnichain data interaction layer boasts several key features:[9]

1. Integration of blockchain data, solving inter-chain fragmentation issues, and offering easy data access for AI and Web3 applications
2. Implementation of dual-chain technology for high-throughput and low-latency data processing, boosting cross-chain interoperability and security
3. Use of CBT tokens to incentivize network participants, ensuring long-term network growth
4. Introduction of the Theia large model to simulate and predict blockchain data, enhancing users’ blockchain understanding

On October 11th, Chainbase open-sourced its cryptocurrency large language model, Theia-Llama-3.1-8B, improving its performance and efficiency. This move is set to strengthen Chainbase’s position in Web3 data analysis, attracting more developers and users while fostering ecosystem growth. Additionally, Chainbase has partnered strategically with Alibaba Cloud and launched Chainbase Genesis, an omnichain data network. Users can earn UNLIMITED tokens by verifying addresses, referring friends, and completing tasks.[10] Moving forward, industry watchers should keep an eye on Chainbase’s advancements in AI model applications, cross-chain data ecosystem expansion, and ongoing innovations in Web3 data analysis.

AtomOne, a Cosmos Hub Fork, Has Launched and Will Distribute 96.99 Million ATONE to ATOM Holders

AtomOne’s launch represents a significant step forward in decentralized blockchain governance. This minimal fork of Cosmos Hub tackles issues of centralization, security, and governance efficiency that have surfaced in the network. Responding to community input, AtomOne introduced GovGen, a governance-focused blockchain that has already garnered support from 50 validators. AtomOne’s current goal is to create a secure, adaptable blockchain that fosters the growth and coexistence of diverse groups through its innovative “living constitution” approach.

AtomOne’s governance framework emphasizes decentralization and community participation, with all decisions made through a token-weighted voting mechanism. The initial supply of the ATONE token is 107,775,332, of which 96,997,800 will be airdropped to Cosmos Hub (ATOM) holders. Using ATONE, users can vote on current proposals through the GovGen dApp, including roadmap, tokenomics, distribution plans, and constitutional proposals. AtomOne also encourages active community participation by submitting new proposals to drive the network’s continuous evolution. [11]


References

1. X, https://x.com/apecoin/status/1847850231515267141
2. Blockscout, https://apechain.calderaexplorer.xyz/stats
3. X, https://x.com/ape_express_/status/1847737310974267477?s=46
4. X, https://x.com/PopPunkOnChain/status/1847744211312943221
5. Gate.io, https://www.gate.io/zh/learn/articles/gate-research-btc-eth-lead-gains-usdy-tvl-surpasses-100m-on-solana-goat-ignites-ai-memecoin-frenzy/4431
6. X, https://x.com/truth_terminal/status/1847971007895662781
7. X, https://x.com/fabianstelzer/status/1848013045965992209
8. Cointelegraph，https://cointelegraph.com/news/cardano-integrates-bitcoin-os-to-enable-trustless-btc-in-de-fi-apps
9. Rootdata，https://www.rootdata.com/zh/Projects/detail/Chainbase
10. Chainbase，https://x.com/ChainbaseHQ/status/1824385428813910125
11. X, https://x.com/_atomone/status/1848397393538281743

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