The public chain is the backbone of the encryption industry and the largest infrastructure. With the development of blockchain technology, we believe that high-performance single chain (parallel EVM), Ethereum re-staking, Cancun upgrade and modular blockchain will become the four major directions that need attention in 2024.
Shanchuan will tell you about the new public chain and Ethereum ecology and what projects are worth paying attention to.
Items worthy of attention:
Sei ($SEI)
Sei is a Layer 1 optimized and designed specifically for transactions. It adopts an optimistic parallelism scheme and is expected to implement parallel EVM in the latest V2 version. At the same time, Sei also allows Cosmwasm smart contracts to interact with EVM smart contracts, providing a more diverse execution environment.
Eclipse
Eclipse is a modular rollup platform. The biggest feature is that it brings Solana to Ethereum, that is, the parallel computing Solana virtual machine is used as the execution layer, Ethereum is used as the settlement layer, Celestia is used to implement the DA layer, and Risk Zero is used Fraud proof, spell out a parallel EVM public chain.
Eclipse is currently running on the test network, and you can apply for testing through the official website.
Lumio
Lumio is a Layer 2 based on OP rollup, dedicated to using Aptos as a second-layer execution layer. The Move series Aptos also had great glory for a while, and it is hoped that it can shine again on the parallel EVM track.
Lumio is currently in closed testing on Ethereum and will gradually be opened to NFT holders and Liquidswap users. Users can pay attention to test qualifications and participate in the test network early.
Ethereum Ecosystem
The second layer of Ethereum has experienced a spurt of development in 2023, with more than a dozen second-layer mainnets coming online. According to L2Beat statistics, the total TVL of the second layer of Ethereum has reached $19.35B. OP Stack and Polygon CDK have further reduced the difficulty of issuing a second layer public chain. Therefore, it is predicted that the total TVL will increase in 2024 as more second layers are implemented. Continued to increase.
re-pledge narrative
In addition to the second-layer network utilizing the security of Ethereum, EigenLayer also utilizes Ethereum nodes to a certain extent to facilitate the construction of new public chains.
EigenLayer is a middleware protocol based on Ethereum. It introduces the concept of re-pledge, allowing Ethereum nodes to re-pledge their pledged ETH or LSD tokens to other oracles, bridges, and public chains, allowing them to use more Enjoy Ethereum-level security at a low cost, while users can gain multiple benefits.
Recently, the market has also seen the exchange of liquidity pledged in Eigenlayer into a new layer of liquidity tokens, LRT, which has led to the gameplay of re-pledged liquidity matryoshka LRTfi. Projects worthy of attention include:
Pendle ($PENDLE)
Pendle will soon launch ether.fi’s liquid pledge token eETH. Users can deposit eETH into Pendle’s LP and receive EigenLayer points, EtherFi points and multi-staking benefits.
Swell
Swell is an LSDfi protocol. Users can pledge ETH to obtain pearls and staking income. Pearls are linked to airdrop tokens. It will soon add a re-pledge function to their swETH, allowing users to obtain rswETH after staking ETH, releasing the liquidity of ETH and increasing additional income. .
Puffer Finance
Puffer is a liquidity staking protocol based on Eigenlayer. Through its own Secure-Signer tool and RAV technology, it solves the forfeiture problem in Ethereum and Eigenlayer networks, providing participants with low-risk double returns. It is planned to be launched in 2024 Launch of mainnet. See the introduction of the communication group
