Recently, Initia, a full-chain modular Rollup network in which Binance Labs participated, Analog, a full-chain interoperability protocol, and MyShell, an AI project incubated by Binance Labs, have successively announced the launch of their test networks. They have quickly been listed on the RootData hot search list and have become popular projects for user interaction in the crypto community.
Initia — Full-chain modular Rollup network
On the evening of May 14, after Initia announced the launch of the public testnet, it quickly landed on the RootData hot search list and became the number one hot search project.
Initia has a very high level of interaction. According to the latest data released by the Initia official X platform, within 48 hours of the opening of the Initia public test network, there were more than 170,000 active users and more than 3.2 million transactions.
According to RootData data, Initia announced in October last year that it had received investment from Binance Labs, but the amount of investment was not disclosed. In February this year, Initia announced that it had received $7.5 million in financing led by Delphi Digital and Hack VC, with participation from Nascent, Figment Capital, A.Capital and others.
Initia hits on popular narratives such as "modularity" and "interoperability".
Initia is a full-chain Rollup network for the Cosmos ecosystem. It enables interoperability and intercommunication between each Rollup, aiming to eliminate the fragmented experience of multi-chain systems.
Initia has both the underlying Layer1 and the Layer2 application chain system Minitia. Initia's Layer1 integrates multiple core modules such as Cosmos's IBC, virtual machines (MoveVM, WasmVM, etc.), and is responsible for the underlying security, coordination, and resource allocation. Initia's many Rollup Layer2s meet the customized needs of users. Since these Rollup Layer2s are built based on unified standards, cross-chain interoperability can be achieved. Recommended reading: "Interpreting Initia: Ready-to-move-in, a fully customized modular Rollup network"
Two of Initia’s core developers, Zon and Stan Liu, were previously smart contract developers and MEV researchers at Terraform Labs.
Initia recently announced the launch of the incentivized public testnet initiation-1, which will last for 8 weeks and currently has no interaction costs. The mainnet is expected to be launched later this year.
Initia's current interactive tutorial is as follows:
1. Download the wallet plug-in and log in to generate a wallet address; 2. Copy the created wallet address and receive the test water; 3. Complete the tasks as required: domain name registration, swap, pledge, LP, etc.; 4. Mint Baby Jennie NFT; 5. Feed Baby Jennie.
Analog — full-chain interoperability protocol
On May 7, Analog announced on the X platform that it would open the second phase of the testnet to community members. The first phase of the testnet was for developers and has now ended. Analog is also a popular search item on the RootData hot search list in the past week.
According to the official website, Analog is a fully decentralized Layer0 that aims to introduce trustless full-chain interoperability, allowing developers to easily build their applications through universal protocols and APIs. Analog also launched a novel, ultra-fast PoT protocol that creates verifiable event data on the time chain, allowing DApp developers to build the next generation of event-based applications.
In February this year, Analog announced a $16 million financing, with a valuation of $120 million. The investors who participated in Analog's investment also have luxurious backgrounds, including Binance Labs, NGC Ventures, NEAR Protocol, Wintermute, Mask Network, GSR, DWF Labs, MH Ventures, Tribe Capital, Alumni Ventures, OrangeDAO, Mike Novogratz, Balaji Srinivasan, etc.
Analog's team members have experience working in many key projects or institutions in the crypto industry, including X Fund, Injective Labs, Chainlink, Polkadot, etc. Recommended reading: "Analog, a new project of crypto veterans: Raised $16 million, with airdrop expectations"
Analog has now announced its airdrop, with 26% of its total supply used for airdrops and the testnet airdrop reward being 2% of the total tokens.
Analog has published an overview article on how to participate in the second phase of the testnet on its official website blog, "Analog's Incentivized Testnet – Phase 2: Community".
For the specific interactive tutorial, please refer to the following steps:
1. Register an account using your email address;
2. Complete Galxe tasks to earn points, and navigate to https://t.co/gFPfadM4UA to claim "Social" task points;
3. Complete the main task in the Analog test network https://testnet.analog.one/#/game to participate in the Watch game voting;
4. Get faucet tokens and navigate to https://t.co/iDlWGVh5t9 to complete the token collection.
MyShell — Decentralized AI Consumer Layer
MyShell is an AI project incubated in the sixth phase of Binance Labs. It recently announced that the first phase of the test network has been launched, and a new platform equity NFT MySoul will be released at the end of May.
According to official information, MyShell is a decentralized AI consumer layer that allows creators to build artificial intelligence agents or robots that consumers or users can use. Its ecosystem includes robots such as OpenVoice (an instant voice cloning program); MeloTTS, a multilingual text-to-speech (TTS) library; and an artificial intelligence agent Alice that can perform various tasks, including topic research, coding, and literature review. Recommended reading: "Dialogue with MyShell co-founder Ethan Sun: How does MyShell bring Crypto X AI experience to millions of people? "
MyShell is currently divided into two versions: Web2 and Web3. Users can communicate with a large number of AI robots of various types, or create their own robot characters.
MyShell team members mainly come from universities such as MIT, Princeton and Oxford, and have extensive experience in artificial intelligence product development and market operations.
In March this year, MyShell received US$11 million in Pre-A round of financing led by Dragonfly, with participation from Delphi Digital, Bankless Ventures, Nascent, Foresight Ventures, OKX Ventures, GSR, Maven11, Nomad Capital, Animoca Brands, Balaji Srinivasan and others.
In October last year, MyShell also received a $5.6 million seed round of financing led by INCE Capital and participated by HashKey Capital, SevenX Ventures, Signum Capital, Folius Ventures and others.
MyShell is also currently airdropping, and users can refer to this guide for interaction.
Conclusion
Recently, with not much splash in the secondary altcoins, community users, in addition to being keen on memes, remain enthusiastic about primary “money-pulling” interactions, especially projects invested in or incubated by Binance Labs, which are one of the focuses of the money-pulling party.
According to RootData data, Binance Labs has invested in several early-stage projects including Movement, Zest Protocol, UXUY, and MilkyWay in the past half month. The subsequent interaction opportunities of these projects are also worthy of attention.
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