Introduction
Recently, prior to the mainnet launch of the Kaspa blockchain in mid-September, there were often recommendations for ambushes in the community. After the mainnet officially launched, many people profited from KRC token minting. What unique advantages does Kaspa have? How should KRC inscriptions be minted and traded? In this article, I will reveal the answers!
What is Kaspa?
Kaspa was founded by early Ethereum developer Yonatan Sompolinsky, combining DAG (Directed Acyclic Graph) and Ghost consensus algorithm to form a POW blockchain, aimed at solving scalability, security, and interoperability issues of crypto assets, achieving higher TPS (transactions per second) so that users can experience faster and safer transactions on Kaspa while maintaining complete decentralization.
According to official data, Kaspa currently generates one block every second, capable of storing over 400 transaction records, and can execute more than 32 blocks per second!
What is KRC20?
KRC20 is a cryptocurrency protocol that specifies the rules for developers to create and manage cryptocurrencies on Kaspa, enabling developers to deploy, mint, and transfer cryptocurrencies, expanding the use cases of the KASPA blockchain network.
Features of Kaspa
1.Operability
Kaspa uses the GhostDAG protocol, allowing for easier asset transfers between different block networks, and better integrating existing applications and protocols. Developers and users can easily trade across platforms and interact within various Dapps.
2.Scalability
Also benefiting from the GhostDAG protocol, providing excellent scalability, allowing Kaspa to handle several blocks simultaneously to meet user needs efficiently.
3.High-Speed Transactions
Kaspa can not only handle multiple blocks simultaneously but also process each transaction independently, reducing waiting times and transaction costs, achieving fast transactions and high TPS, further significantly improving asset utilization.
4.High Security
The consensus voting mechanism of the GhostDAG protocol restricts the data that outsiders can use, effectively preventing hackers from attacking and protecting user information security. Moreover, Kaspa is completely decentralized, with no central entity controlling it, greatly reducing the likelihood of malicious attacks.
5.Community Collaboration
The KRC20 token framework is highly flexible, allowing users to freely design cryptocurrency projects with different token economies and deploy KRC20 tokens according to their needs, creating new business and supply-demand relationships for developers and users.
KRC20 Token: Kaspa (KAS)
$KAS is the native token of the Kaspa ecosystem, which is key for verifying transactions and incentivizing users. Since its launch, KAS has continuously risen due to its powerful technology and high scalability, with a peak price reaching $0.2. The current price is $0.11, with a market cap of $2.83 billion, ranking 40th among all cryptocurrencies.
$KAS
Kaspa Related Tools
1.Kaspa Wallet: Kasware
Kasware is a non-custodial on-chain hot wallet designed specifically for Kaspa, allowing users to have full control over their Kaspa assets and store private keys on their device. It also supports all Kaspa minting token functionalities, and I believe it is currently the most user-friendly wallet for Kaspa.
Kasware
2.Kaspa Browser: Kas.fyi
Kas.fyi is the most comprehensive blockchain explorer for Kaspa, where you can query real-time hotspot transactions, gas fees, and the most commonly used KRC token minting progress and real-time prices. It is the best platform for Kaspa players to monitor on-chain activities.
3.Kaspa Cross-Chain Bridge: Chainge
Chainge is an aggregator and cross-chain bridge protocol aimed at enhancing seamless cross-chain transactions and liquidity management in DeFi, allowing users to swap or cross-chain KRC tokens.
Chainge
4.Kaspa Token Bot: KSPR
KSPR BOT is a Telegram Bot primarily used to deploy, mint, and trade KRC tokens. Its interface is very simple and easy to use, and it can be accessed on mobile without installing any additional applications. It is currently the only platform that allows mobile devices to interact with the Kasplex protocol. I will introduce how to use the KSPR bot in the following sections.
KSPR BOT
KSPR BOT Minting Tokens
As mentioned above, the KSPR bot is a tool for deploying and minting KRC tokens. Below, I will gradually demonstrate how to use KSPR to complete token deployment and list them for sale.
1.Connect KSPR
Connect to Telegram KSPR BOT and click Start to begin.
2.Create Wallet
Choose a bot with less traffic; for first-time use, enter /start to create a new KAS wallet or import a private key. Ensure that you back up the private key properly, as it is the only key to your wallet assets.
3.Top Up $KAS
After the creation is complete, enter /balance to view the current linked wallet address and asset balance. For first-time users, you can transfer $KAS from an exchange to this wallet. I recommend using Coinex, which supports KRC functionalities comprehensively. The speed for KRC tokens is also the fastest.
4.KSPR Command Explanations
As shown in the table below, this table is extracted from the Kaspa Taiwan discussion group, and the following primarily explains the usage methods for minting and trading.
5.Minting Tokens
You can check which tokens are currently being minted on the Kas.fyi website and use the /mint command to mint. For example, enter the token name, number of mints, and gas fee to start minting.
Quantity represents the number of tokens given for each minting. The minting count is limited to between 20 and 10,000; Current Average Priority Gas fee is the cost for each minting on Kaspa. The higher the gas fee, the faster the minting process. The fee will increase with the congestion level on the chain, and finally, the miner's fee will contribute to the total cost of minting tokens.
6.Check Token Balance
After minting is complete, you can see the freshly minted tokens in your wallet. Each completed minting will be displayed directly in the wallet without needing to wait for all minting to finish.
7.Listing Tokens
Using the /mylisting function, you can list new tokens, view the tokens you are currently listing, and check your transaction history. You can freely set the quantity and value for sale (at least 50 sets). A 5% transaction fee will be charged for each transaction on KSPR.
8.Buy and Sell Tokens
Using /marketplace, you can inquire about the current token prices in the built-in market of the bot, as shown in the image below. The prices will be sorted in ascending order, with the green dot representing your own orders.
Conclusion: KRC is still in the early stage, focusing on safe minting and arbitrage.
This concludes the basic introduction to Kaspa and the complete guide on how to use the KSPR bot. After its launch in mid-September, I have participated in several KRC token mintings. Since you can 'mint while listing for sale', some tokens can yield profits after deducting the minting costs. After calculating the costs, you can sell part of it for breakeven arbitrage.
One common situation encountered is incomplete minting or insufficient total minting volume for profit. I recommend using multiple bots to distribute the minting load. One Telegram bot can mint with 10 bots simultaneously, significantly improving minting efficiency. Using the above-mentioned extraction and sale methods, this is a relatively safe and stable profit method in the early market of Kaspa.
Note: The content of this article is extracted from the Kaspa Taiwan discussion group.
Major Project Interaction: Depin Mining Series
Recently, the hottest airdrop project is Grass, which saw its price increase by about 3 times the day after listing. Similar to the earlier IONET, I believe that Depin mining-type projects are worth interacting with, allowing participation with almost zero cost and low thresholds, using idle network hardware resources to earn profits. Additionally, Depin collects big data for AI in the long term, and users providing data complement the project, making the risk of loss low. Below is a summary of similar projects I am currently participating in.
Dawn
Andrena is a network infrastructure project led by Dragonfly with $33 million in funding, while Dawn is a DePIN project incubated by Andrena based on Solana.
Dawn launched a points program for deploying nodes when announcing funding and clearly stated that part of the $DAWN token will be used to incentivize early users and node builders. Rewards will be granted based on node contributions, initial activation time, and performance verification ratings, with up to 25% of the token allocation based on node contributions.
1.First, download the Dawn verification Chrome extension.
2.As shown in the image below, first register using your email. If you do not receive verification, you can try several times or check your spam folder. If you don't mind, you can use the referral code 374y1yi1.
3.After registration, go to the homepage and click 'Boost Reward' to complete community tasks and earn 15,000 points.
4.To confirm the status, the connection in the image below must be green to continue earning points.
Dawn
Gradient
Gradient is also a Depin network protocol on Solana, funded by Pantera and Multcoin, with the amount not yet disclosed. The main service of the product is edge computing, belonging to the AI and Depin track.
1.Register a Gradient account and log in with Twitter.
2.Install the Gradient browser extension.
3.Log in to your account in the extension to view the current working status and point earnings on the page shown below.
Blockmesh
Blockmesh is an innovative AI data security network that aims to allow users to monetize excess network bandwidth, providing a platform for passive income, utilizing potential network resources to promote a fairer and more efficient network ecosystem. Blockmesh has just launched and has no funding information yet, but it has won first place in the Solana hackathon's Depin project.
1.Register an account on Blockmesh using your email.
2.Click on the image below to install the Blockmesh browser extension.
3.Link your account in the extension to view real-time information on the website. The data may have a delay of several hours.
Featured Project Interaction: Cube Exchange TG Bot
Cube Exchange is a Cefi project introduced in October, founded by Bartosz, a veteran executive from Solana Labs. It is supported by the Solana Foundation and has raised a total of $21 million over two rounds of funding, currently valued at over $100 million, with a third round of funding soon to be announced. It is backed by 6th Man Ventures and Foundation Capital, having a very strong funding background.
Previously, I introduced the Cube Exchange, where you can earn Block points through trading and deposits. This week, Cube launched its own Telegram Bot mini-game 'HODL', where you can earn Block points at zero cost by playing and completing tasks. The detailed interaction methods are as follows.
1.Click to join the Telegram Bot 'HODL', log in with your Telegram account. You need to use the app to log in; the web version is currently not operable.
2.Play the stacking game on the homepage to earn a small amount of points, with limited challenges available, playable once every 4 hours.
3.In the $ symbol below, there are many social tasks, daily check-ins, and verifications that can earn a large number of points, which is a blessing for zero players.
4.The official has announced that a feature to connect Telegram and exchanges will go live, and points will be integrated in the future. It is still very early, so it is recommended to combine with the previous deposits and maintain active trading.
Emerging Project Ambush: Flock
Flock is a decentralized AI privacy solution, named after the research project Federated Learning Blocks, which uses blockchain to allow data holders to train AI models while maintaining private security.
Flock was led by OKX Ventures and DCG with $6 million in funding. It is currently the only AI facility funded by Ethereum in 2024, with a strong investment background. It is expected to have a high probability of obtaining new funding in the future, making it worth ambushing in advance.
The official has opened a public test network for interaction, generating 1074 $FML daily as rewards for contributors. Currently, participation is low, so there is no rush. Below are the current participation methods for Flock.
Testnet Interaction
1.Go to Flock's website and log in by connecting your wallet.
2.As shown in the image below, you need to verify your identity first. Regular users can verify with Twitter, developers can choose GitHub verification to receive $FML test tokens.
3.Authorize the received test $FML to any validator for staking, requiring Base Sepolia Gas fee.
Testnet Interaction
Node Operation
Currently, the environment for Kaspa's blockchain is challenging. Flock also has a node operation interaction method with a higher threshold, and the number of Flock nodes has not significantly increased. The official focuses on active real nodes, and operators have considerable potential income.
Flock Official Node Operation Documentation
Flock node operation can refer to this detailed tutorial from the crypto dog.
Funding Potential Project: Nillion
Nillion is a secure computing facility aimed at establishing a decentralized network that does not rely on blockchain, allowing decentralized nodes to operate in a non-blockchain manner without leaking data privacy. Partners include major public chains like Aptos and Arbitrum.
Nillion's funding was led by Hack VC and Haskey with $45 million, currently valued at over $500 million. Recently, prominent trader Ansem also announced an investment in Nillion, bringing Nillion back into the spotlight. Nillion launched its first phase of the testnet, Genesis Sprint, in early June. I previously released the interactive process for the testnet, and this article will continue to explain Nillion's current key interaction methods.
Node Validation
Currently, Nillion is still in its early stages, with node validation being the main participation method. The official has clearly stated that node operators can receive token rewards.
1.First, visit the Nillion official website and connect Keplr and EVM wallets.
2.Select the Verifier on the right and choose the device to run (Mac, Linux, or Windows).
3.For detailed node operation tutorials, refer to this article by @Ice_Frog666666. Currently, I believe this is the most complete process.
Secret Verification
In addition to the node operation mentioned above, there is another Secrets verification on the homepage, with the following operation process.
1.After connecting the wallet, click to enter the page as shown in the image below.
2.Provide palm print, Nillion Keplr wallet address, selfie, and birthplace information here.
3.After completion, you can stake ETH to significantly increase point calculation for node operations.
Airdrop Benefits Inquiry:
1.$ZRC
https://app.zircuit.com/fairdrop
Zircuit is a previously introduced L2 staking project with high TVL from Binance. On 10/8, users who staked or held at least 3 $EIGEN received a snapshot and will distribute a dedicated airdrop on 11/1, accounting for 2% of the total $ZRC supply. Each wallet will receive 749 tokens, currently priced at about $0.08, worth approximately $60.
2.$ARCA
https://legendofarcadia.io/
Legend of Arcadia is a card-based turn-based blockchain game, led by OKX and Animoca with $4 million in funding. After the public offering of $ARCA in June this year, a test snapshot will take place on 10/26. The game and $ARCA token will officially launch this week. Among them, 40 million $ARCA will be airdropped to previous test players and loyal users of the official server.
3.$SWELL
https://app.swellnetwork.io/dao/voyage
Swell is also an LRT project, led by Framework with $3.75 million in funding. Due to prolonged delays in launching, the community has protested continuously, and finally, the airdrop page for $SWELL was launched this week. The token will be available for collection on 11/7 and TGE.
Dear readers, you may be wondering: 'Where can I learn and see these in-depth analysis methods and valuable data sharing?'
Click the link below to check it out!
https://da.studio/