London, United Kingdom, November 23rd, 2023, Chainwire

• Socrates is a web3 social media and entertainment platform, combining the best of Social-Fi and Game-Fi
• Accessible on multiple blockchains, including Polygon, Ethereum, BNB Smart Chain (BSC), Arbitrum One & Optimism
• Allows anyone to participate in multiple-choice question and answers, empowering people to voice honest opinions and unique perspectives
• Offers large rewards for simple in-app interactions, easily redeemable

Socrates, a web3 social media and entertainment platform, has launched on multiple blockchains following a successful testing phase. With thousands of signups already, the revolutionary app will offer users globally the ability to earn substantial rewards by actively participating in multiple-choice Q&As, debating openly and sharing knowledge.

Socrates empowers individuals to discuss any topic, including politics, sports, crypto and entertainment. Utilising an innovative and intuitive UI, users can easily create and answer multiple-choice questions in-app, giving and liking reasons to further support their viewpoints.

The organisation combines the best of Social-Fi and Game-Fi, built on the principle of rewarding knowledge-sharing and promoting dialogue, with a mission to engage dialogue and foster community. With mainstream media controlling narratives and directing much of collective human thought, Socrates gives users a platform to think freely about issues and combat misinformation common in web2 social media.

Built on the principles of decentralisation and inclusivity, Socrates integrates the benefits of blockchain technology and NFTs to establish a unique incentivised ecosystem. User interactions contribute to a question’s prize pool, already reaching over 1000 points, with potential rewards distributed upon the question’s closure. Meaningful discussions and unique perspectives during deep debates can earn users higher rewards, a key feature in provoking meaningful discussions and new levels of engagement.

This week, Socrates has further improved accessibility, enabling access via multiple blockchains, including Polygon, Ethereum, Arbitrum One, Optimism, and BNB Smart Chain (BSC), where points earned on the platform can be easily redeemed 1:1 for USDT.

“With question and answers driving today’s conversation, we created Socrates to provide a fun platform where you can earn large rewards for sharing knowledge, learning of diverse opinions, and networking with like-minded communities. In response to the rise of AI language technology providing standardised answers to questions, our platform addresses a clear need for individuals, businesses and governments to seek human answers to their questions,” said Lottie Wells, Head of PR at Socrates.

Since launch, the 200+ Socrates team members from leading web3 and social media companies have continued to develop the product and improve the user experience. Nevertheless, the organisation has ambitious development plans imminently, including the release of an algorithm tailoring content to specific users, and a cutting-edge UI update.

The platform invites users to join the debate by signing up and experiencing Socrates at app.socrates.com using the invitation code 8k6ze4s6.

About Socrates

Socrates is a global web3 social media and entertainment platform based on multiple blockchains, where users earn rewards by participating in multiple-choice Q&As, debating and sharing knowledge. Combining the best of Social-Fi and Game-Fi, the organisation aims to pioneer a new era of dialogue and knowledge beyond borders, empowering and rewarding individuals to share their vision and shape the future through diverse perspectives.

In an age where social and mainstream media heavily influence collective thought, Socrates encourages individuals to think freely, challenging issues and dispelling misinformation. Users can shape conversations in-app by crafting their Pen and selecting a sphere of interest, actively contributing to meaningful dialogues. The platform has established an incentivised ecosystem, where valuable contributions and interactions can earn large rewards.

Featuring an innovative and intuitive user interface coupled with decentralised blockchain technology, Socrates prioritises transparency and security. Socrates is dedicated to empowering individuals to share their unique vision and shape the future through diverse perspectives, fostering a community-driven platform that transcends geographical boundaries.

Website | Twitter | Discord | Telegram | Whitepaper | Medium

Contact

Head of PR
Lottie Wells
Socrates
charlotte@socrates.com

Dubai, UAE, November 23rd, 2023, Chainwire

Algebra, once a multi-solution DEX, now known as the DEX Engine, retains and refines concentrated liquidity, enhancing functionality. With over 20 integrated decentralized exchanges, including THENA Fusion, Camelot V3, QuickSwap V3, and even more, Algebra boosts these DEXes’ competitiveness and provides users with advanced options through its seamlessly integrated codebase.

The introduction of ‘Integral’ Modular Architecture marks a significant step forward, enabling projects to rival Uniswap V4, improving gas cost efficiency, and plugging new functions to DEXes on air. The breakthrough tech was unveiled on October 17th through the Swapsicle DEX on the Mantle & Telos Blockchains, and is yet to be integrated into Sushi.

TL;DR

Algebra DEX Ecosystem Overview:

• Ultimate DEX solution operating as a B2B project on 20+ DEXes, providing concentrated liquidity solution with dynamic fees
• Over $150 million TVL across all decentralized exchanges, with daily trading volume of up to $212 million.
• Algebra secures its position in the top 10 most forked protocols by TVL on DefiLlama
• Over 50 protocols building on top of the Algebra solution

Integral Modular Architecture:

• Integral, a revolutionary V4 tech, features a modular architecture that allows a partnering DEX to compete with Uniswap V4
• Integration with Sushi proposes a next-gen DEX engine, enabling easy updates and plugin additions without disrupting DEX activities, all packed up with concentrated liquidity & other features.
• Integral offers advantages like enhanced gas efficiency, modularity, and diverse revenue streams, saving up to 22% in gas costs.
• Partnership aims for increased TVL, trading volume, and overall efficiency on the Sushi platform.
• Key part of the collaboration is the Plugin Marketplace development, fostering a hub for DeFi innovation.

Modern DEX Hassles

The crypto community is buzzing about Uniswap V3’s license expiry and the potential of Uniswap V4. Launched in March 2021, UniV3 rose to the top in the DEX market with its concentrated liquidity innovation. Now open-sourced, UniV3 allows decentralized exchanges to adopt this concept. However, the abundance of AMMs leads to liquidity fragmentation and market inefficiency.

Last but not least: traditional AMMs pose challenges for DEX protocols in updating infrastructure due to the necessity for liquidity migration with each new version, complicating the implementation of new ideas.

On the flip side, UniV4’s announcement brings flexibility and revolutionary changes, opening doors for indie developers. Questions arise about the adequacy of old AMM models like V3 against new competitors, the global market impact, and how UniV4 will reshape the DEX landscape.

Algebra ‘Integral,’ offering an innovative modular architecture for a cost-effective, customizable, and secure DEX, inspired by the V4 concept. Algebra Integral addresses these challenges with customizable plugins managed by the DAO, providing control over configuration and connectivity.

What’s Algebra DEX Ecosystem?

Algebra, an ultimate DEX solution, works as a B2B project, already empowering over 20 DEXes, including the likes of THENA, Camelot, QuickSwap, Swapsicle, StellaSwap, and more, across 20+ chains, with over 50 protocols building on top of Algebra solution.

Algebra’s innovative features and partnerships have positioned it as a top-tier concentrated liquidity tech provider, gaining popularity and earning a spot among the top 10 most forked protocols by TVL.

For now, its TVL across all Algebra-built decentralized exchanges totals over $150 million, while its trading volume has recently surpassed the mark of $198 million.

Part of the trading fees goes to the Algebra development team, and part of it is used for weekly $ALGB buybacks & burns.

Algebra’s concentrated liquidity solution offers capital-efficient trading with dynamic, or volatility-based, fees, allowing LPs to specify price ranges for enhanced efficiency and reduced impermanent loss.

Unlike Uniswap V3, Algebra’s dynamic fee model calculates fees based on risk, volatility, and pool volume, providing higher returns for LPs. 

Algebra also offers the following features within its ready-to-integrate codebase: Built-in on-chain Farming, Customizable Tickspacing, Rebase Tokens’ Support, Limit Orders and a bunch of other innovations.

Algebra ‘Integral’: The Revolutionary V4 Tech Proposed to Sushi

Earlier this Fall, Algebra has introduced its latest update, high inspired by Uniswap V4. Integral, now available on Mantle & Telos via Swapsicle DEX, is a next-gen concentrated liquidity engine with a modular architecture, featuring an immutable core codebase & highly customizable plugins. This integration allows the addition of plugins on top of liquidity pools, as well as easy platform updates without crucial DEX activities disrupting the need for liquidity migration. It marks a significant leap forward in DeFi, providing a more agile and efficient framework for innovation.

Together with Sushi, Algebra team has introduced an integration proposal to deploy the brand-new V4 implementation into Sushi.

The Sushi and Algebra integration goes beyond just a timing advantage:

The implementation of Algebra Integral tech offers Sushi numerous advantages. The final goal of this integration is a significant increase in TVL, trading volume, and overall efficiency, which the platform’s revenue growth will follow:

• Enhanced Gas Efficiency: Algebra’s Integral is designed to significantly reduce gas costs, saving 7-22% compared to current systems.
• Innovative Modularity and Customizability: The system allows Sushi to adapt swiftly to market trends and technological advancements.
• Diverse Revenue Streams: Custom plugins open up new avenues for revenue generation and stakeholder engagement.
• Fostering a Hub for DeFi Innovation

A key part of this partnership is the Plugin Marketplace development on the Sushi platform, envisioned as a dynamic hub for innovation.

The proposal is now on Discourse for discussion and voting.

About Algebra Labs

Algebra is a dedicated team specializing in research and development within the AMM space. In 2021, as a DEX solutions team, they made a significant impact by launching the first decentralized exchange with improved V3 tech.

Algebra has established partnerships with over 25 decentralized exchanges, boosting their capital efficiency. These collaborations have resulted in a total TVL of up to $162 million, with a Daily Trading Volume of up to $200M, and they are continuously expanding their network of partners.

https://algebra.finance/

Telegram | Twitter | Discord | YouTube

Contact

Co-founder
Vladimir Tikhomirov
Algebra
vt@algebra.finance

DUBAI, UAE, November 23rd, 2023, Chainwire

BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, is highlighting the compelling growth stories of the projects that emerge from its project development program, starting with its hackathons. This comes in the wake of BNB Chain’s Istanbul Hackathon, which saw the emergence of a number of strong projects.

The focus of the bear market is building quality Web3 projects – this is a time for developers to concentrate on identifying what real use cases need solving. However, quarterly funding for Web3 startups has dropped by approximately 84% this year. Against this backdrop, thousands of founders have looked to alternate ways to develop their projects to the point of launch readiness.

By providing constant guidance, in addition to routinely incentivising innovation with its global hackathons, BNB Chain mentors these projects through the various stages of their development journeys as they strive to realize the immense potential of Web3. 

Below are the steps that projects can expect to partner with BNB Chain on as they work to realize their vision:

1. Ideate and develop a killer idea at a BNB Chain hackathon
2. Win a reward at the hackathon that allows for initial development
3. Develop further with constant guidance from BNB Chain
4. Get introduced to incubators who can supercharge your project
5. Launch your project on-chain 

BNB Chain Hackathon winners also receive referral codes to apply to the Most Valuable Builder (MVB) to potentially increase their funding. The program – run by BNB Chain and Binance Labs – helps projects develop and grow through mentorship, funding and network support*.

BNB Chain’s recent Istanbul Hackathon saw a number of exciting projects start on this journey, with a number of the winners sharing how they plan to utilize their winnings to advance their projects. 

MoveSpace, an on-chain data labeling and marketplace powered by a vector database, is addressing the data transparency issue in AI training to incentivise human interactions with data with BNB Greenfield. Using the funds they won at the BNB Chain Hackathon, they are further refining their concept – making data tradable as a regular commodity or asset – to make data ownership meaningful, setting them up for success at their first round of fundraising.

Another winning project exemplifying the practical applications of blockchain technology is ZeroX, a Web3 Gaming platform with a core mission of onboarding users to Web3 through gaming. Offering SDK and API services for traditional game development, they are lowering the barriers for traditional game developers and gamers to enter Web3. They will allocate the funds they won at the Istanbul hackathon to accelerate their growth and incorporate BNB Greenfield into their product, putting them in a leading position for their first funding round and upcoming public product launch. 

Learn more about all of the winning projects, their experiences of BNB Chain Hackathon Istanbul and how it is accelerating their growth here.

Tomasz Wojewoda, Head of Business Development at BNB Chain, said: “The quality of the projects that emerged from the BNB Chain Istanbul Hackathon was truly remarkable. It has been great to see their Web3 spirit on full display and to see how they are leveraging opBNB and BNB Greenfield to accelerate their development. Myself and the BNB Chain team look forward to being by the developers’ sides and providing guidance as they continue to build towards realizing their vision.”

*Disclaimer: There is no guarantee that projects will be accepted to the MVB program.  

About BNB Chain

BNB Chain is a community-driven ecosystem with multiple decentralized blockchains, powered by BNB. It consists of BNB Beacon Chain, its staking and governance layer, BNB Smart Chain (BSC), which is EVM compatible and facilitates a multi-chain ecosystem with its Layer-2 solutions including opBNB, and BNB Greenfield, its decentralized data storage network. 

The BNB Chain ecosystem has the world’s largest smart contract blockchain (BSC) by daily active users and has processed 3 billion transactions to date from 232 Million unique addresses. This makes it the largest layer 1 blockchain globally and brings developers massive user access with ultra-low gas fees, higher transactions per second and has experienced zero crashes since its inception. The ecosystem has more than 1,500 estimated active dApps at any given time across multiple categories such as DeFi, Metaverse, Blockchain Gaming, SocialFi, NFT, Infrastructure, and more. There are numerous programs available to support the Web3 ecosystem including the Gas Grant, Builder Grant, Kickstart, Most Valuable Builder (MVB) and AvengerDAO.

Contact

Jack S
jack.sutherland@bnbchain.org

DUBAI, UAE, November 22nd, 2023, Chainwire

• November 19 saw BSC record more than 9.5M transactions in a single day
• Earlier in the week, BSC demonstrated gas price stability during a similar surge

On November 19, 2023, BNB Chain, the community-driven blockchain ecosystem, saw its highest traffic rates since May of 2022 with transactions exceeding 9.5M for the day. More than 7M of the 9.5M daily transactions were attributed to inscription minting transactions on BNB Smart Chain (BSC).

The 1-year high comes amid a week of traffic surges on BSC. November 17 likewise saw a spike in traffic, with gas prices on BSC remaining consistent during the surge. On November 17, with TPS (transactions per second) reaching almost 250 at the peak, gas prices remained consistent at the $0.016 threshold.

While TPS rose to almost 250 on Nov. 17, gas prices on BSC remained steady at $0.016.

BSC’s very large block size is what allows it to handle spikes in traffic smoothly while maintaining a stable gas price. With TPS at around 200, the usage of the block is only at around 15-20%, meaning that the network still has plenty of space left to handle further traffic. 

Learn more about BNB Smart Chain here.

###

About BNB Chain

BNB Chain is a community-driven ecosystem with multiple decentralized blockchains, powered by BNB. It consists of BNB Beacon Chain, its staking and governance layer, BNB Smart Chain (BSC), which is EVM compatible and facilitates a multi-chain ecosystem with its Layer-2 solutions including opBNB, and BNB Greenfield, its decentralized data storage network. 

The BNB Chain ecosystem has the world’s largest smart contract blockchain (BSC) by daily active users and has processed 3 billion transactions to date from 232 Million unique addresses. This makes it the largest layer 1 blockchain globally and brings developers massive user access with ultra-low gas fees, higher transactions per second and has experienced zero crashes since its inception. The ecosystem has more than 1,500 estimated active dApps at any given time across multiple categories such as DeFi, Metaverse, Blockchain Gaming, SocialFi, NFT, Infrastructure, and more. There are numerous programs available to support the Web3 ecosystem including the Gas Grant, Builder Grant, Kickstart, Most Valuable Builder (MVB) and AvengerDAO. 

Contact

Jack S
jack.sutherland@bnbchain.org