gate Research Institute: Hotspot Summary (11.25-11.29)

Overview

This report focuses on the major developments in the blockchain industry from November 25th to November 29th, covering areas such as Options, public chains, and Meme platforms. CBOE will launch the first SpotBTC ETF index Options on December 2nd. Avalanche has launched the 9000 testnet and established a $40 million reward fund. Integrated public chain Supra announced the launch of Mainnet on November 27th and initiated the TGE. In the Solana ecosystem, Pump.fun volume accounts for over 62%. TON has launched TON Teleport BTC, achieving seamless connection between BTC and the TON ecosystem. These advancements indicate that blockchain technology is constantly advancing innovation in various fields, providing users with more application scenarios and development opportunities.

Project

CBOE will launch the first SpotBTC ETF Index Options on December 2nd

CBOE Chicago Options exchange announced that it will launch the first cash Settlement index Options product related to SpotBTC price on December 2, 2024. These Options will be based on the new Cboe BTC US ETF Index (CBTX), which aims to reflect the performance of SpotBTC ETF listed on the US exchange. These Options products will provide investors with a new way to capture the changes in BTC price through Options trading without directly holding BTC or its ETF, and without worrying about physical Delivery. The Options launched this time include standard and mini versions, as well as FLEX Options (customizable contract terms).

The launch of this product may drive the BTCDerivatives market into a new stage. On the one hand, it will attract more institutional funds to get on board, enhance market Liquidity, and accelerate the compliance process of BTC financial tools; on the other hand, its design linked to Spot ETF may pave the way for more Spot ETF approvals in the future. However, the price volatility of BTC and the uncertainty of the policy environment remain the main risks. Investors should carefully evaluate the potential returns and risks to develop a more robust investment strategy. [1]

Avalanche 9000 Testnet launched, providing developers with $40 million in rewards

According to the announcement on November 25th, Avalanche9000 is now live on the Fuji testnet and is expected to launch on the Mainnet in the coming months. This upgrade will reduce deployment costs by 99.9%, allow cross-chain communication, and unlock over $40 million in retroactive rewards for developers. The upgrade is based on the technical improvements of the Etna upgrade and community proposals ACP-77 and ACP-125. One of the major changes is the renaming of the Avalanche subnet, now referred to as Layer 1.

According to Avalanche, this transformation does not change the operation mode of its subnet, allowing horizontal scaling instead of creating complex dependencies on custom blockchains. Avalanche’s L1 network will operate as both permissionless and permissioned networks, with each network providing different levels of validators participation and reward control. In addition, subnet validators no longer need to stake 2,000 Avalanche AVAX Tokens and synchronize with the Avalanche main network. Instead, they will now be paid ongoing fees based on the number of validators. According to the network, the fixed cost per second will bring significant cost savings to validators.

Integrated public chain Supra announced that it will launch the Mainnet and start TGE on November 27th.

The integrated public chain Supra Mainnet officially launched on November 27, marking a new stage in its Web3 ecosystem. As the first vertically integrated L1 public chain, Supra provides innovative features such as MultiVM, native Oracle Machine, and has completed a $38 million financing. Since the launch of the testnet in August, Supra has processed over 9 million transactions, attracting 510,000 users. $SUPRA Token will be launched on gate on November 27. The launch of Supra will provide developers with an efficient and flexible development environment, accelerating the landing of Web3 applications. In the future, Supra will continue to attract top developers worldwide to jointly build a prosperous Web3 ecosystem.

More than 62% of the Pump.fun in the volume of Solana-based DEXs in November

According to Dune data, as of November, Token transactions created by the Pump.fun platform accounted for as much as 62.3% of all Decentralization exchange (DEX) transactions on Solana. However, in terms of volume, this proportion is slightly lower at 42.3%. These data support the view that Pump.fun has become one of the cornerstones of the Solana ecosystem. Pump.fun platform was launched in January this year, allowing anyone to easily issue Tokens. Initially, it cost a few dollars to issue Tokens, but later the team made it completely free. As a result, Pump.fun has become one of the most culturally influential encryption projects, giving rise to some of the hottest meme coins this year, such as PNUT, GOAT, and CHILLGUY. [4]

TON launches TON Teleport BTC, seamlessly integrating BTC with the TON ecosystem

On November 28th, the TON Foundation announced the launch of TON Teleport BTC, integrating BTC with the TON Blockchain, allowing users to easily send and receive BTC on Telegram and TON’s Web3 applications through tgBTC (tokenizationBTC). This not only enables BTC to play a role in the Decentralized Finance (DeFi) ecosystem, but also provides users with trust guarantees without relying on traditional exchanges or third-party custody. The introduction of tgBTC transforms BTC from a simple store of value tool to an asset that can be used for staking, borrowing, yield farming, and other financial activities, promoting the application of BTC in the TON ecosystem.

In addition, TON Teleport BTC ensures the transparency and security of transactions through innovative encryption technology and blockchain Consensus Mechanism. By utilizing Bitcoin’s Taproot upgrade technology, TON successfully minimizes Transaction Cost while enhancing the characteristics of Decentralization. With low cost and efficient transaction processing, TON Teleport BTC provides a solid foundation for BTC’s entry into the Decentralized Finance field, opening a new chapter for BTC in Decentralization finance. With the release of BTCLiquidity, TON Teleport BTC not only improves the Cross-Chain Interaction interoperability of BTC but also lays the foundation for future financial innovation, promoting BTC’s wider application and popularization.

Note Users should participate cautiously, pay attention to risks, and conduct thorough research before participating. The subsequent development of the project is not guaranteed.
Reference:

1. CBOE,
2. Avalabs,
3. X,
4. Dune,
5. X,

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