Today we will look at the games with the largest 24h rebound. Currently the top three are big time, crown by third time games and Drift, all of which have a rebound of 20%. Big time has been mentioned before, so let’s focus on the second and third ones.
1.crown by third time games
This is a horse racing betting platform. Recently, it has seen a 65% weekly increase. Its current market value is 78 million US dollars, and it is ranked 380+. Its circulation volume has also been unlocked by 76%, and it is also on the SOL chain.
Introduction
Horse racing is still very popular in the United States. Since horse racing became popular in the United States in the 19th century, it has become a traditional activity in many parts of the United States, especially in the southern and eastern states.
I also investigated some reasons, there are the following points
-Horse racing is considered an elite sport in the United States, especially in events like the Kentucky Derby, where many celebrities, politicians and wealthy people attend. Such events are not only competitive, but also social occasions, attracting many high-end audiences and becoming an important venue for social activities.
-The horse racing industry in the United States is huge, not just limited to races on the racetrack, but also includes horse breeding, training, racetrack maintenance and related industrial chains. The vigorous promotion of the media, especially television broadcasts and social media, has brought horse racing into the eyes of more ordinary people, increasing its popularity.
- Horse racing is full of speed, power and uncertainty, and every race is full of excitement. The race is short, and the audience can quickly experience the climax of the race. This instant gratification makes horse racing a highly entertaining sport. In addition, the storytelling of horse racing - the horse's bloodline, training process, jockey's performance, etc., increases the audience's sense of involvement.
Photo Finish™ LIVE - Virtual Horse Racing
Third Time is a startup game development studio that has been developing two highly anticipated cryptocurrency-based blockchain games since 2021 - Photo Finish™ LIVE and The MVP Society. The team and company are considered one of the top companies in the Solana ecosystem and the entire blockchain field. The three founders have more than 15 years of experience in the gaming industry and have held senior management positions at Electronic Arts, Zynga, Row Sham Bow, Glu Mobile, and FanDuel.
The studio’s first mobile game, Photo Finish™ Horse Racing, was released in 2015 and became one of the most popular horse racing mobile games in history, with over 13 million downloads to date. The sequel, Horse Racing Manager, was launched in May 2018 and has been recommended to the top of the App Store charts many times around the world.
Based in Orlando, Florida, Third Time is focused on creating innovative, fun, engaging, and sophisticated games for players around the world.
In summary, this project is currently a very typical blockchain gambling game, which is not highly recommended. Regardless of whether it is fair on the chain, you will most likely lose money if you play it. You can go and see that rlb, a gambling website we talked about before, is also rising. The recent rise in this kind of speculative project shows that it is all speculative funds and they dare not make big moves. This shows that the market conditions are actually quite bad, although the market has risen a bit recently.
2.Drift
Drift is an AMM, a dex for perpetual contracts, which currently supports a maximum leverage of 20x. It has also increased by more than 70% in the past week. Its current market value is 150 million US dollars, and its market value ranking is 258+. The total number of tokens is 1 billion, and 22.5% is currently in circulation.
Introduction
Drift is a decentralized trading platform based on Solana, providing multiple functions such as spot trading, leveraged trading, perpetual contracts, lending, and earning income. The project completed a $3.8 million financing in 2020 led by Multicoin Capital, with participation from Jump Capital, Alameda Research, etc. However, the biggest feature of this project is the launch of the bet section, which is a guessing game, such as who will be elected as the US president in the latest issue (Trump or Harris).
Drift’s capabilities and features include:
- Built a full set of products for spot, leveraged, and perpetual contract trading.
-There are multiple liquidity mechanisms, including virtual automated market maker (Drift AMM), decentralized limit order book (DLOB), and just-in-time (JIT) auction liquidity to ensure on-chain liquidity.
- All trades are prioritized through short-term Dutch auctions and then executed by the DAMM, with limit orders on the order book as the final replenishment.
- There is an insurance fund that receives a portion of the protocol fees, but in the event of a loss, this portion of the funds will be used first for compensation. Depositing $10,000 in the insurance fund will receive a discount on transaction fees.
-Supports multiple collaterals as margin, and collaterals will automatically receive deposit income. The user's profit and loss will be automatically settled regularly, and this part of the funds will be converted into the user's deposit or debt, and interest will also be generated or required to be paid.
-Liquidity providers (DLPs) can use leverage, may lose all their margin, and can open separate sub-accounts to provide liquidity.
-Maker not only does not need to pay transaction fees, but also can get a 2bp transaction fee rebate.
Let's focus on this B.E.T market
Currently, this is a prediction market for some major events, such as the US election, whether Trump will be elected as the US president in 2024 or Harris, and whether Iggy Azalea will become a celebrity at the 2024sol defense meeting? Will the Federal Reserve cut interest rates by 50 basis points in September?
Each prediction is equivalent to a pool, and each prediction supports a binary result (YES or NO), which is represented by a price of 1 or 0. You can use USDC or shares (platform tokens) for staking, and when you win, you can get rewards from the counterparty.
Token Economy
The token will be launched on 2024-05-16, with a total of 1,000,000,000 tokens, 225,416,386 in circulation, and a circulation rate of 22.5%. The launch price is about 0.3, and the current exchange rate is 0.677. On August 5, it reached a minimum of 0.24. From the distribution of tokens, we can see that 53% was given to community ecological construction (10% was given to airdrops), 25% to protocol development, and 22% to strategic investors. The release of tokens will still take 5 years. In the first year, 50% will be unlocked in large quantities, and it will slow down later, so the first year must not be touched.
At present, the TVL of the project continues to rise, and is currently about 370 million US dollars. The trend is not bad.
In summary, we can see that the projects that have rebounded well recently are all chain games or gambling, which shows that the market is not very good. Of the two projects we looked at today, the first one is definitely not recommended. Just let everyone know about the project. The second one, drift, is also an exchange. In fact, there is no innovation in the technical features of amm. JIT mentioned it when talking about chainflip before. Then it mainly relies on the b.e.t market, because the b.e.t market is a hot time and has a certain degree of popularity. And we can see from the unlocking of the tokens that a large amount will be unlocked in the first year. At present, only 25% has been unlocked, and there is still 25% to be unlocked. Therefore, it is not recommended to play this kind of vc disk in the first year. But this wave of SOL ecology can be seen to be very fierce. #内容挖矿
