What core narratives did the just-concluded ETHDenver focus on? Learn about cutting-edge trends in one article

Mar 6, 14:14

Original title: "What core narratives does ETHDenver focus on?" A key focus not to be missed"

Original author and editor: Karen, Foresight News

The annual ETHDenver conference is the focus of the Ethereum ecosystem A grand event, ETHDenver 2024 was held in Denver, USA from February 23 to March 3, attracting tens of thousands of Web3 enthusiasts and developers.

On the occasion of the closing of ETHDenver, ETHDenver announced the BUIDLATHON Hackathon Top 15 list. If you want to know what Web3 BUIDLers are focusing on and building, as well as what appeared in the ETHDenver Hackathon. For innovative projects, you can click "2024 ETH Denver Closing, a list of 15 projects Rising Star Project"Learn more.

After reading the discussion about ETHDenver on Twitter, the author found that the keywords "liquidity heavy pledge", "Bitcoin Layer2", "points" and "Crypto +AI", "Berachain", "DePIN" and "modularity" are very hotly discussed. These keywords reflect the focus and interest areas of Web3 development among attendees and the market. The focus of the 2023 ETHDenver conference will be wallets, L2 and ZK, which shows how big the trend has changed.

ETHDenver Narratives

As Bankless Business Development Director shaaa.eth summarizes ETHDenver popular narratives, mainly Covered:

1. It was found that Farcaster and Frames were mentioned the most in communication, such as post tips, Frames payment, Frames transactions, Frames games, etc. .

2. Airdrops and points are the best solutions for project cold start. 90% of projects have token plans and will soon Issuing tokens;

3. Heavy pledge Summer is the ETHDenver consensus;

4. Berachain peripheral activities are the activities with the largest number of participants and the most hype. Recommended reading: "Berachain’s most complete interactive guide: the mainnet is about to be launched. Bringing you all-round and in-depth participation".

5.Base is also worthy of attention. Just imagine, when Coinbase enters the top 10 of the app store, where will these users go next?

We can feel that the development of the heavy-staking ecosystem has exceeded many people’s expectations, and EigenLayer, as one of the leaders, is realizing it through innovative design and technology Lead this trend. EigenLayer completed a US$100 million financing from a16z single venture capital in late February. Earlier this month, EigenLayer achieved another milestone, with the lock-in value (TVL) exceeding the US$10 billion milestone.

EigenLayer team member kydo.eth also outlined the original design intention of EigenLayer and the Pooled security framework and AVS (Active Verification Service) at the ETHDenver event. These AVS services are located in EigenLayer External to the contract. It is worth mentioning that this week the Rollup aggregation protocol Omni Network also announced the signing of a US$600 million agreement with the liquidity staking protocol ether.fi. ether.fi will invest US$600 million worth of Ethereum in the delegation agreement to ensure that Omni Network security and enhance the security of the entire EigenLayer ecosystem. Omni has whitelisted ether.fi’s liquidity token eETH and will select Ether.Fi’s node operators to run its Active Validation Service (AVS). Staked Ethereum will be used to prevent security breaches and asset decoupling. As more projects and capital enter this field, we can expect to see more innovation and breakthroughs.

More and more projects such as Blur, Blast, EigenLayer, Puffer, Ethena, etc. have begun to launch point activities as an important means to attract users and increase user activity. However, while the project side carefully designs and manages the points scheme, users also need to rationally identify and participate in projects of mixed quality. Recommended collection: Selected "Summary of Potential Airdrops".

After Farcaster launched the Farcaster Frames function at the beginning of the year, its active users surged significantly, and the number of monthly active users (MAU) exceeded 100,000 for the first time, proving its innovation in the Web3 social field. Sex and attraction. Farcaster Frames function similarly to social media embeds, with links with special properties of Open Graph tags, the ability to display images and text as previews, and the ability to facilitate interactive elements via buttons for dynamic user response. Recommended reading: "Rise in the Farcaster community, how does the meme token DEGEN achieve organic growth?" 》.

In addition, Farcaster’s competitor Lens also entered the “permission-free” stage at the end of last month, allowing all users to create on-chain profiles and join the platform. This undoubtedly increases the platform’s appeal and user base. The development of projects such as Farcaster and Lens has brought positive signals to the development of the Web3 social field. But it will take time to see whether Web3 social networking can really explode.

Learn about cutting-edge trends from ETHDenver’s participation in the conference

About the conference’s reflections and summary, curvecap .lens summarized the views of 21 participants, and Foresight News selected some of them for compilation to help everyone better understand the atmosphere and main focus of the ETHDenver event, as well as feel the collision of cutting-edge trends at the event.

Polygon DeFi Director Jack Melnick:I like to explore some new areas the most, and these areas will obviously become the main themes of this cycle, They are native income, Rollup/L2, cross-chain messaging/modular interoperability, PVP games and new ponzinomics, consumer-oriented products and new DeFi applications.

IPOR Labs CEO Darren Camas:Around the main venue, infrastructure projects ranging from L2 to DAppchains to cross-chain infrastructure are prevalent , but lacks users who engage in on-chain activities in addition to memecoin speculation.

Term Labs co-founder Billy: Besides price increases, the main themes are: founders discuss successful financing, LP hopes More deployment into the DeFi field, EigenLayer changes the rules of the game for Ethereum, LRT, risks related to the launch of AVS, mining points, what impact will the success of Ethena have on the perpetual funding rate, Blast launch, Bitcoin Ordinals generation Big changes, and Bitcoin is expected to become more diverse through Layer 2 scaling.

Derek, Contract Verifier of Certora, Smart Contract Security Analysis Project:Most of the ideas I encountered at this event were legitimate and innovative in scope. From ZK proofs and verification computations, to Rollup-based scalability and interoperability, to formal tools for auditing and formal verification.

Kostiantyn Dmitriiev: The brand promise of tokenization in 2017 was in pursuit of better liquidity. Today we find out that this is not the case. Although liquidity has improved, it is still not good, and what is illiquid in the real world is still illiquid on the chain. Tokenization is really about efficiency, cost optimization, speed, transparency and security.

@xxsvjstu: 600 people from almost all major L1, L2, stablecoin and lending protocols were represented. One clear takeaway is that visionaries see stablecoins and RWAs as key developments.

FlywheelDeFi author Samuel McCulloch: This year’s ETHDenver gave me a "Subdued" feeling. Despite all-time high prices, new money has yet to flow into major projects at the scale seen in the previous bull market. I guess we're still panicking about the FTX debacle, and the regulatory situation in the US isn't getting any better. This year, DeFi has not been the main development narrative, replaced by artificial intelligence and heavy collateralization.

Which projects will debut new products and officially announce partnerships during ETHDenver?

In addition, many project parties unveiled new products or officially announced partnerships during ETHDenver.

Robinhood Crypto General Manager Johann Kerbrat announced during ETHDenver that Robinhood Wallet announced the integration of Arbitrum, allowing users to exchange tokens with Arbitrum to reduce Transaction costs and faster transactions.

StarkWare announced at ETHDenver that it is building a new cryptographic prover called Stwo. The team said the new prover will bring faster verification efficiency, thereby reducing delays and transaction fees. Any user can run the prover, and its codebase will be available to anyone interested in trying out or implementing a STARK-based system.

Coinbase announced the upcoming launch of two new wallet solutions, smart wallets and embedded wallets. Among them, the smart wallet will complement the Coinbase Wallet SDK, a software toolkit that allows wallets to be instantly created in decentralized applications using keys, without the need for complex processes such as mnemonic phrases. The wallet is built on the Coinbase Layer network Base. The embedded wallet will be powered by Wallet as a Service (WaaS), which allows companies to customize blockchain wallets for their own customers.

The cross-chain messaging platform Wormhole introduces the Native Token Transfer (NTT) framework. NTT introduces an open, flexible and composable framework for transferring native tokens across blockchains while retaining their intrinsic properties. Projects built on NTT can retain control over the behavior of their tokens on each chain, including customizability, metadata, and ownership/upgradeability, allowing them to integrate with any type of token standard or governance system.

Web3 developer platform Alchemy launched the public beta version of embedded accounts and debuted at ETHDenver. During a fringe event music night hosted by BASE, Royal and Alchemy, which featured performances by DJs and EDM producers 3LAU and Coopahtroopa, among others, fans could claim their NFTs simply by scanning their wristbands with Face ID or fingerprints.

It is worth mentioning that SEC Commissioner Hester Peirce also lamented regulatory ambiguity in a fireside chat on ETHDenver, stating , "There is a lot of optimism here right now, but I'm a little sad that a regulator is sitting here now. The SEC's role is not to tell people, "Cryptocurrency is good or bad, but it should be let the market decide." Hester Peirce conveyed Its positive attitude towards the cryptocurrency and blockchain industry also hints at some of the limitations and challenges posed by the presence of regulators in this area.