

BSC.NEWS hosts Crudeoil, a next generation decentralized deflationary farming platform/yield and AMM built on Binance Smart Chain. All questions answered by Pyro - Crudeoil Finance (@pyro_crudeoil) and Petro Engineer (Crudeoil Finance) (@crudeoileng).
Crypto Shrimp (AMA Host): Ladies and Gentlemen, on behalf of BSC News, I would like to welcome Crudeoil Team for an AMA! shall we get started crudeoil team ?
Pyro - Crudeoil Finance: Oh yeah LFG!!
Q1 lets start off with knowing more about the team behind crudeoil finance, tell us more about the team members and their past experience
Pyro - Crudeoil Finance: First of all, I would like to thank BSC NEWS and all the admins for arranging this AMA. They have been behind us since the beginning. Amazing
Crypto Shrimp (AMA Host): thanks for the kind words!
Pyro - Crudeoil Finance: My name is Pyro and My colleague is Petro engineerI. We are two of the cofounders of Crudeoil Finance. We have a team of like minded individuals who thought of introducing a unique crypto philosophy to the community and started working on Crudeoil.
Most of us have a long history in Crypto and I myself have been in the crypto field since 2013 and others also have many years of combined experience in the crypto industry.
Q2 How did the project come about?
Petro Engineer (Crudeoil Finance): Nice. I'll take this one
Pyro - Crudeoil Finance: Yeah go ahead my man
Petro Engineer (Crudeoil Finance): well... while we were discussing novel crypto concepts, we were disgusted with how “inflationary staking” was causing a massive sell pressure causing tokens values to drop. Therefore, we wanted to implement a deflationary token where the holders would have to think twice before selling. This would encourage holders and the token value as a result.
So we wanted to implement this in the real world. Initially, we wanted to try our concept on ETH network first but due to the heavy fees in gas we decided to move to Binance Smart Chain. So, we have started our development later Q4 2020/ Early Q1 2021 and here we are today.
Crypto Shrimp (AMA Host): deflationary will never go wrong..
Q3 i believe the presale of oil has been completed and now diesel is done too? or the public can stil get the chance to buy them?
Pyro - Crudeoil Finance: Obviously, we were overwhelmed by the affection shown by our community. We were massively oversubscribed in our $OIL private sale and the public sale was finished within 3 seconds. We had both these sales on a simple platform.
Second, our $DIESEL private sale was oversubscribed and then we recently had our Public Sale Phase 1 on our own Launchpad https://launchpad.crudeoil.finance taking into account all the learning from $OIL sale. Frankly we ran into some technical difficulties during the DIESEL public sale phase 1 , Nevertheless, This public sale phase 1 was also sold out very quickly. Each day is a day to learn for us. I think our difference is that we put our heads down and listen to the community. We are definitely on a continuous improvement track.
Our Public sale phase 2 will be conducted soon on a popular platform. More details will be available soon on that. Community will be able to buy from that round. Or else they can buy from an AMM once the token is listed
Crypto Shrimp (AMA Host): im sure the public will be glad to know more about that..
Q4 let us know how you felt about the presales of both tokens, was it better handled in the second round ? or if you can turn back time what would you have done better?
Petro Engineer (Crudeoil Finance): Good one indeed
Pyro - Crudeoil Finance: Indeed!! as we said, we ran into some difficulties. however we could be able to pull through and close the sale in 2.5 hours with 1400BNB raising as a result (we have refunded 100BNB excess)
Each day is a day to learn for us. I think our difference is that we put our heads down and listen to the community. We are definitely on a continuous improvement track.
Petro Engineer (Crudeoil Finance): The community has been amazing and providing us with a lot of positive feedback and suggestions to changes. We have listened to all of them and continuously work on improving our product offering. We are definitely on a continuous improvement track.
Crypto Shrimp (AMA Host): learning everyday makes us stronger and listening to the community makes the growth organic for sure
Pyro - Crudeoil Finance: Massive learning curve for us. The interest was overwhelming. We got a loyal fan base behind us
Crypto Shrimp (AMA Host): thats great!
Q5 Tell us more about $oil and $diesel, whats their use case and whats their differences?
Pyro - Crudeoil Finance: certainly. $OIL is our first token and it has a deflationary architecture. every transaction is associated with a burn. Therefore the total supply goes down even as we speak. Holders will have a chance to Stake/Farm Binance smart chain assets (BEP20) and get staking/farming rewards from OIL tokens. We are actually building an ecosystem around $OIL which was our first token. $DIESEL on the other hand is a fixed supply token. This will be the medium for buying and selling NFTs on our upcoming NFT marketplace. Both tokens will play a massive role in our upcoming yield farm optimizer. Holders and stakers will have huge benefits (yet to be revealed) $DIESEL on the other hand, does not have a burning function. There will be no burn mechanism implemented hence we can use it to list it on a centralized exchange. (We got so many offers to get it listed on centralized exchanges due to the burn feature we couldn’t get it done) $OIL and $DIESEL are integrated when $OIL holders are provided with benefits later on when all $OIL tokens are minted and unlocked after staking
Crypto Shrimp (AMA Host): wow big stuff, NFT and listing plans will be great and those holding the tokens will be excited
Pyro - Crudeoil Finance: Just wanna add one more point here. We received a listing request from a top tier CEX. More details to be announced once the deal is done.
Q6 from your medium articles, it shows that you take great care of the public safety when purchasing the tokens. How are you protecting the community that have invested in the project? any audits?
Petro Engineer (Crudeoil Finance): of course. security is very important isnt it?
Crypto Shrimp (AMA Host): defo
Pyro - Crudeoil Finance: I think @crudeoileng should take this
Petro Engineer (Crudeoil Finance): Certik is our smart contract audit partner and you can see our project listed in their onboarding projects list.
Crypto Shrimp (AMA Host): great stuff and we spoke to them in an ama not long ago too!
Petro Engineer (Crudeoil Finance): Furthermore, we have always been educating our community not to fall for scammers. We have always been communicating with our community to stick to our group for all communication. We have also experienced a massive DDOS attack recently. Since then we have upgraded our platform infrastructure and moved to sophisticated AWS platform with ultra high security. We understand that security is a continuous improvement but not just a one-time task. So, we are committed towards continuous improvement.
Pyro - Crudeoil Finance: Adding the website link here: https://certik.org/ Just wanna give a shout out to Marco from certik
Q7 after security, im sure the public wanna know what are the strategy in place to assure the value of their investment maintained, if not go higher?
Pyro - Crudeoil Finance: I got this one. In terms of $OIL, its the deflationary feature. It is something to do with human psychology. if people dont sell, the price will hold. If people sell, they are playing into the holders hand. just a beautiful concept. Also, Yield aggregator/optimizer fees will be distributed among the DIESEL and OIL token Stakers on our platform. Furthermore we will have soo many value addition to the project other than the optimizer. We already launched the IDO platform (already getting massive interest from so many projects). Plus we have plans to launch our own NFT market place, AMM. Frankly the initial idea was to build on Ethereum and contribute to its ECOsystem. As you all know and aware, Gas price is killing ETH dapps at the moment. So we moved onto #BSC. So far, we have been getting a lot of positive feedback from our community
Crypto Shrimp (AMA Host): Thats great stuff and you answered the question as to why BSC too..
Q8 you spoke about partnership, is there any that you are allowed to let us know? and how will they be able to partner crudeoil?
Petro Engineer (Crudeoil Finance): I'll take this one. Of course! partnerships are a two way thingy. We get exposure to our project across established communities. Similarly, these projects will also get the exposure to our community. In addition, we will utilise the product features they are good at. For example, when it comes to stakd, OIL holders are able to stake OIL LP to earn Stakd on their platform. On the other hand we have recently partnered with BillionHappiness as well. We will soon be hosting their public sale on our own Launchpad. https://launchpad.crudeoil.finance Similarly, we also established a partnership with Certik who would do the smart contract Audit of our token. Certik is arguably the best smart contract auditing firm out there in the market
Crypto Shrimp (AMA Host): thats great news too! BHC supporters will be equally excited about this
Petro Engineer (Crudeoil Finance): We have been approached by well known (That’s all we can say at the moment) IDO/IFO platforms in the space. We are still negotiating terms to conduct our Public sale phase 02. Some of the partnerships are still in the research phase. We are discussing how we can improve ourselves while collaborating with each other and contributing to the BSC ECO system. We can’t put out the names yet but the community will come to know in due course.
Crypto Shrimp (AMA Host): we always strive to under promise and over achieve in the progress of a project 🙂
Q9 brings me to the next question, how does crudeoil finance earn money to fund the team and future development?
Pyro - Crudeoil Finance: This is an extremely important question. The reason why we never allocated any token portion towards the team at the beginning was to build the trust among the community. There is no point of raising funds and also having a piece of token pie by the team at the same time (Even though many projects tend to do that). Let me break it down to points how we are gonna handle the business in the future (from funds perspective)
🛢 Every OIL transaction has 2% fee inbuilt. 1% goes to the project team wallet and 1% permanently burnt. We can utilize that for our expenses.
🛢We have raised enough funds to run the project for 2 years with calculated predicted burn rate
🛢We have a plan to utilize a portion of yield farm optimizer fees towards project expenses which is our main product among many.
🛢We launched our own launchpad. Projects can apply for fundraising through our platform. We charge a reasonable fee which can be utilized for the betterment of our project as well. Our public sale phase 01 was conducted there. We have one planned around 7-10 of this month with Billion Happiness. They will conduct the phase 2 of their sale on our platform.
Crypto Shrimp (AMA Host): I’m sure the public will be pleased to know of this plan for funding
Q10 lets talk about what are the current development, besides the phase 2 sales of $diesel and paternership? are there other things that you guys are building?
Petro Engineer (Crudeoil Finance): I’ll take this one. So, we are fast at development on multiple fronts. With respect to $Oil, we are adding more and more LP pools to our platform so that our loyal community can earn more $OIL by staking those tokens. On the other end, we are developing and improving our own Launchpad to host more token sales while cultivating multi-dimensional partnerships.
Crypto Shrimp (AMA Host): nice i like the part of growing together with other projects, it definitely will make the projects stronger!
Q11 we have cover most of the past and present stuff, what is the roadmap for future development?
Pyro - Crudeoil Finance: In terms of future development, we are working on our own yield optimizer platform.
With respect to $DIESEL, we are developing the NFT marketplace. And many other surprises which we will announce pretty soon. you can get a detailed timeline here: https://docs.crudeoil.finance/roadmap-1 Dates are subject to change. We hired couple of developers and development is in fast phase now. We will be able to launch the products even before the mentioned dates.
Q12 thats nice and i would say alot of ppl will be looking forward to the great development of crudeoil, how about providing us with links that allow the public to learn more about your crudeoil finance, eg social media/medium/tg etc.
Petro Engineer (Crudeoil Finance: All details could be found below.
🛢 Website: https://crudeoil.finance
🛢 Email: contact@crudeoil.finance
🛢 Twitter: https://twitter.com/crudeoil_fi
🛢 Telegram Chat: https://t.me/crudeoilfinance
🛢 Telegram Channel: https://t.me/crudeoilfinance_ANN
🛢 Blog: https://crudeoilfinance.medium.com/
🛢 Github: https://github.com/CrudeoilFi
🛢 Docs: https://docs.crudeoil.finance
🛢 PitchDeck: https://docsend.com/view/x9puqwhca8ciwbt4
Crypto Shrimp (AMA Host): we are almost done with the questions from me, after that i will unlock the room for some live questions from our audience, once the questions flow in, i will lock the room again for you to choose a few questions to answer..
Q13 It's my famous last question in BSC news, whats the alpha you can offer us besides what we have talked about previously?
Pyro - Crudeoil Finance: Oh Alpha here we goo..
Crypto Shrimp (AMA Host): its never enuf haha
Pyro - Crudeoil Finance: ha ha! That’s a secret! Kidding! Well.. As I said at the beginning, we are working on a unique concept and working towards a revolution. We will soon be introducing customizable vaults to our portfolio. We believe this will be huge in the days to come with the ever increasing popularity of staking and the $OIL eco system will be at the forefront of it. We have so much planned for the optimizer. Your very own KDOT gave us some alpha suggestions which are amazing. We discussed internally and we will implement them once the platform is live. You will see the magic once the platform goes live. Till then our lips are sealed. There you go! The news was broken here at first.
Crypto Shrimp (AMA Host): Thank you for the time being here at BSC News AMA, Im sure the public will love the project more than ever now!
You guys have great team work even during the AMA we can see how you guys are not cutting into each other, that tells a lot too! I wish you guys all the best and hope you enjoyed your time in this AMA!! Transcript for the AMA will be out shortly and we will let you know about it. For those who have more questions and wanna learn more about CRUDEOIL FINANCE do check out the links below:
🛢 Website: https://crudeoil.finance
🛢 Email: contact@crudeoil.finance
🛢 Twitter: https://twitter.com/crudeoil_fi
🛢 Telegram Chat: https://t.me/crudeoilfinance
🛢 Telegram Channel: https://t.me/crudeoilfinance_ANN
🛢 Blog: https://crudeoilfinance.medium.com/
🛢 Github: https://github.com/CrudeoilFi
🛢 Docs: https://docs.crudeoil.finance
🛢 PitchDeck: https://docsend.com/view/x9puqwhca8ciwbt4
Pyro - Crudeoil Finance: Oh yeah amazing. I expected nothing less than this sir. you have an amazing community
Petro Engineer (Crudeoil Finance): Lovely community
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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The highly anticipated Core airdrop launched on February 8th at 12 PM UTC.
Claim Your Core Airdrop
Core DAO has rewarded users for their patience by launching the highly anticipated airdrop. Eligible users can now claim the airdrop via the Core DAO official website with their mobile or PC.
The protocol announced that the airdrop would be launched on February 8th at 12 PM. After the week-long countdown on Twitter, the Layer one blockchain protocol confirmed the airdrop to the delight of core enthusiasts.
Airdrop is now available! 🚀 Claim your $CORE here --> https://t.co/Mpev8jNAvv#CoreDAO $CORE
— Core DAO (@Coredao_Org) February 8, 2023
Before the airdrop, the Satoshi Plus consensus protocol reminded users that they would need a small amount of CORE in their wallets before claiming the airdrop. Fortunately, the protocol will send 0.1 CORE to all eligible users who linked their Core wallet addresses in the Satoshi application.
Reminder that you need a small amount of $CORE in your wallet to claim your airdrop 👌
— Core DAO (@Coredao_Org) February 8, 2023
Upon launch, the network might be congested due to the large number of users trying to claim $CORE. Increasing the gas price may quicken the transaction. Users can also wait for a less busy time to claim the airdrop with lower gas fees.
Core DAO promises to offer users a decentralized, secure, and scalable ecosystem with the Satoshi Plus consensus mechanism. The airdrop is a step toward unleashing the network’s capabilities in the Decentraized Finance (DeFi) space. After users claim their airdrop, they can proceed to support the protocol’s aspirations via staking.
BSC News wrote an article about staking CORE. You can stake Core and earn rewards as a delegator. In the meantime, eligible users should read our publication on how to claim the Core airdrop HERE.
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem's history and an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Step-by-step guide on claiming your CORE airdrop on mobile or PC.
Easy Steps to Claim Core Airdrop
The Core DAO airdrop will go live on February 8th at 12 PM UTC. Here is a detailed guide, according to Core DAO’s Medium blog, on how to claim your $CORE airdrop on Mobile and PC:
How to Claim CORE on PC
- After adding Core Mainnet to your Metamask wallet extension, open the Core DAO official homepage. You can learn how to add Core to Metamask HERE.
- Check the top right-hand side of the homepage and click on Airdrop.

- A dropdown will display, prompting you to select your country. However, Core DAO will automatically select your country based on IP. Click confirm after selecting your country.

- Next, select Metamask to connect your wallet.

- Once you click the confirm button, you will be directed to your Metamask wallet to link your Core Mainnet network to the website.
- If you are connected to the Ethereum Mainnet, Metamask will ask you to Switch network to Core DAO. Click “Switch Network” to confirm.

- Ensure that the wallet address is the same as the one you linked to the Satoshi application.
- Once connected to the Core DAO website, click on “Claim.”

- Click on confirm to proceed with the transaction.
- Eligible users will be sent 0.1 CORE in their wallets ahead of enabling the Airdrop to cover gas fees.
How to Claim CORE on Mobile
- Open your Metamask wallet and Connect to the Core mainnet.

- Go to the browser in the Metamask wallet and visit the Core DAO homepage.

- Click on Airdrop at the top of the homepage.

- Select your country of residence. Core DAO will automatically country with your connected IP. Click “Confirm.”

- After selecting the country, connect your Metamask wallet in the next page by clicking the “Connect” button.

- Confirm the interaction with your Metamask wallet.

- Click on the “Claim” button in the homepage. Ensure that your wallet address is the same with what you linked in the Satoshi application.

- Click on confirm in your Metamask to claim your tokens.
BSC News recommends visiting the Core DAO blog for more information about claiming the $CORE airdrop.
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem's history and an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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ConsenSys gives a breakdown of Layer 2 roll-ups, particularly ZK-rolls-ups and where the space is headed in the third Build section of the 2023 CMC Crypto Playbook

An Overview of Layer 2 Roll-ups
Over the past few years, Layer 2 (L2) rollup solutions have come to the forefront as activity on the Ethereum network has grown. Activity and engagement with non-fungible tokens (NFTs) and Decentralized Finance (DeFi) have caused a surge in Layer 1 (L1) blockchain activity. In turn, the demand for blockspace, represented by gas costs, has increased. And the time for transaction finality has risen due to the increased network load. Whilst the Ethereum Merge set the groundwork for future gas fee optimizations; it did not directly reduce transaction gas fees.
In the year between the summer of 2020 and the peak demand in the summer of 2021 gas cost in Gwei on the Ethereum network increased by up to 1300%. The need to make transactions fast and affordable spurred the creation of two primary forms of rollup: Optimistic and Zero-Knowledge (ZK).
Rollups help remove the computational demands on the Ethereum network by moving transaction processing off-chain, converting them into a single piece of data and then submitting back on Ethereum as a batch to reduce the associated cost and time. The big difference between the two is that Optimistic roll-ups utilize fraud proofs, whereas ZK-rollups rely on zero-knowledge proofs to verify changes to the main chain.
Optimistic and ZK-rollups: Fraud Proofs vs Validity Proofs
Fraud proofs bundle transactions off-chain and then repost them to the L1. After a bundle has been submitted on the L1 there is a challenge period, during which anyone can challenge the result of the roll-up by computing a fraud proof. Similarly, zero-knowledge proofs batch transactions off-chain and submit them as a single transaction. Where they differ is rather than assuming the transactions are correct initially, they use a validity proof to instantly prove whether the transactions are valid. Once the transactions have been confirmed as valid they are then submitted to the L1. This is how they derive their respective names - fraud proofs are where the transactions are checked retrospectively to see if there are any fraudulent transactions, whereas validity proofs are completed before the transactions are submitted to the L1.
Whilst there are prominent projects for both, they each come with their own respective benefits and drawbacks. Optimistic roll-ups have the advantage that fraud proofs are only required when there is an issue. This means they require less computational resources and are able to scale well. The trouble lies with the challenge period. A longer challenge period increases the likelihood that any fraudulent transactions are identified, however, it also means that users have to wait longer to withdraw their funds. For leading optimistic rollup solutions, such as Arbitrum and Optimism, this waiting period can last up to a week. Alternatively, ZK-rollups have the advantage of always reflecting a correct L2 state. Their drawback is that proofs are required for all state transitions, rather than solely when they are contested, which limits scalability. This is further compounded by the complex nature and early stage of the technology.
Despite their respective challenges, ZK-rollups are being heralded as the future for roll-ups. This is primarily due to the automatic generation of validity proofs increasing the security of the protocol, the significantly reduced time to withdraw due to there being no challenge period, and that ZK-rollups boast better data compression. For these reasons, we will hone in on the current state of the ZK-rollup space, the latest innovations, and what lies ahead in the future.

The ZK-Rollup Space
As we’ve discussed, ZK-rollups are predominantly in the focal point with players like zkSync, Starknet, Polygon zkEVM, and Scroll all raising large amounts of capital to develop their solutions despite only StarkNet having launched on mainnet ($780MM in total). Each of these projects has taken its own angle, differing primarily across their rollups data availability strategy and their proving algorithm. The data availability strategy determines where the state data of a roll-up is stored, on-chain storage has increased security but it uses up block space on the Ethereum network which reduces transaction throughput.
The proving algorithm is the means of generating a validity proof, which can either be STARK or SNARK. Both of these algorithms help developers to relocate computation and storage off-chain, in turn increasing scalability. They are also able to verify whether a user has sufficient funds and the correct private key without having to access the information itself, thus improving the security. You can read more about the technical differences here. STARKs have the advantage of offering more scalability, security, and transparency compared to SNARKs. But the drawback STARKS have is a larger proof size, which takes longer to verify, and that SNARKs comparatively only use 24% of the gas. Therein for both SNARKS and STARKS we have the tradeoff between speed and cost vs. scalability, security, and transparency. Whilst many different methods are being explored there is not yet a definitive answer as to the best way to set up a ZK-rollup. Each configuration brings respective benefits and many developers are still exploring the optimal choice or combination for their roll-up designs.
The Hurdles To Overcome
As we’ve discussed, ZK-rollups are still in development and there are various challenges that need to be overcome before blockchain users are able to reap their full benefits. Language compatibility is one such challenge; translating Ethereum Virtual Machine (EVM)-friendly programming languages, such as Solidity, into a custom-built language specifically optimized for ZKP can help boost their efficiency, but it brings with it adoption challenges for developers. For example, StarkNet is looking to solve this with Warp, a Solidity to Cairo (the language of StarkNet’s ZKP) language compiler that looks to automatically convert Solidity into Cairo. Using Warp removes the need for developers to rewrite their code in Cairo, making it a much smoother process.
Other challenges include the secretive nature of projects, with many going against the open-source ethos of crypto due to concerns over first-mover advantage and capturing a sticky userbase. Most ZK-rollups were first launched this year, highlighting the amount of work that is yet to be done in the space.
Lastly, whilst rollups (both optimistic and zero-knowledge) have the benefits of improved speed and cost, it tends to be at the expense of decentralization. This is due to the inherent need for sequencers, the actors batching transactions and committing proofs to the L1. All rollups currently need a centralized sequencer and use upgradeable smart contracts that are managed by a single entity. Because the space is still so early, a central focal point is typically required for quick fixes to bugs in the code. Add to that the projects aren’t open-sourced, creating another hurdle for community members to act as sequencers. Many projects have indicated that they plan to decentralize their sequencer functions in the future, but this will undoubtedly take additional resources and time.
Decentralization Plans
Launching a token and open-sourcing code will be the next steps for many of the projects seeking decentralization. Tokenization of these services to generate activity and decentralize the product is another area where we expect to see a myriad of different solutions cropping up as projects look to create the most scalable, decentralized and active L2 on the market. StarkWare and zkSync are both planning to launch a token and Polygon could potentially use MATIC to support Polygon’s zkEVM initiative. Token engineering on ZK-rollups is an even more nascent space than the optimistic roll-up technology and finding an effective and sustainable model can differentiate and boost adoption.
The Future
zkEVMs are still in their very early stages and the race is on to launch on mainnet. StarkNet has the first-mover advantage but still has challenges with regard to supporting Solidity features due to the use of Cairo, leaving room for competitors to make improvements. The projects that are able to amass significant user bases will attract Decentralized Applications (Dapps) developers, in turn bringing more dapps to their platform and increasing the feature set. ConsenSys’ zkEVM is currently moving to testnet and are focussing specifically on dapp developers for this reason, leveraging tools like MetaMask, Infura and Truffle so that they can deploy and manage applications as if they were directly using Ethereum.
And whilst we have discussed the current players in the zkEVM market, other predominant rollup solutions like Polygon, Optimism, and Arbitrum still command a significant market share. As zkEVM solutions mature, we may see these projects look to transition to validity proofs or hybrid solutions, leveraging their existing user bases to attract dapp development and maintain their market dominance. In the end, the many rollup solutions (and the increased competition between them) will continue to improve the web3 user experience and introduce platforms for applications to onboard the next generation of users.
Given these threats, we’re not surprised at the secrecy of projects in the space, but we believe the true winner will be able to leverage the efficiency of ZK-rollups and combine it with a seamless developer and user experience to come out on top.
This is a guest post from CoinMarketCap with Consensys and has been edited for style. The original article was published here and was also included in the third Build section of the 2023 CMC Crypto Playbook.
What is CoinMarketCap:
CoinMarketCap is the world's most-referenced price-tracking website for digital assets in the rapidly growing cryptocurrency space. Its mission is to make crypto discoverable and efficient globally by empowering retail users with unbiased, high-quality, and accurate information for drawing their own informed conclusions.
Where to find CoinMarketCap:
Website | Twitter | Telegram | LinkedIn |
What is ConsenSys:
ConsenSys is a leading Web3 software company. It enables developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. The ConsenSys product suite includes Infura, Quorum, Codefi, MetaMask, Truffle, and Diligence.
Where to find ConsenSys:
Website | Twitter | Discord | LinkedIn |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Pi Network Debuts New PiOS Software Licensing Program Together With Hackathon

PiOS is a new open source software program that encourages developers to create and use open-source applications and tools within the Pi ecosystem. The software also allows developers to apply and work on other developers' contributions.
Pi Network Open Source Software License Program
Pi Network debuted its Pi Open Source (PiOS) License program at the hackathon launch to encourage developer collaboration and build its large ecosystem. The initiative enables developers to share their code while building valuable applications on the blockchain.
The protocol’s PiOS license ensures that developers create and utilize open-source applications and tools within the Pi ecosystem. In a press release shared with BSC News, the team stated that the licensing framework would ensure developers collaborate to develop unique applications on Pi Network.
“This unique licensing framework allows community developers to build on the contributions of one another, leveraging crowd wisdom of the large community. By consolidating community developers’ collective knowledge and building efforts, Pi Network aims to facilitate diverse ideations and executions to create a robust ecosystem of apps and utilities for the Pi community members,” the statement read.
The initiative enables developers to build on works created by others. Through the collective effort of developers, Pi Network aims to combine unique ideas to generate a robust ecosystem of valuable applications. One of the founders of Pi Network, Dr. Nicolas Kokkalis, also shared his thoughts about the initiative.
“Since Pi’s inception, we have always encouraged cross-collaboration. Through PiOS we hope to enable developers who wish to share their codebase with the community to do so, and also invite contributions to their code from other community developers,” said Dr. Nicolas Kokkalis. “Our hope is that by allowing Pi Community Developers to create open source applications and tools for the Pi Ecosystem, the community will continue to flourish and encourage others to build as well.”
Developers have access to the code repository licensed by other Pi community developers under the PiOS license. Further, developers receive Pi rewards as encouragement for contributing their code to the repository and making their work available to one another.
The Pi hackathon commenced on January 9th and will end on February 28th. The event invites participants to build apps across three themes: Social Media, GameFi/Entertainment, and Consumer Utilities. As of publication, over 4200 participants have registered for the event. BSC News has an article HERE for users interested in building on the blockchain. You can also visit the Pi hackathon page for more information.
What is Pi Network:
Pi Network is a novel cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures economic transactions via a mobile meritocracy system and a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
Where to find Pi Network:
Website | Twitter | LinkedIn | Facebook | Instagram |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Author
BNB Chain Partners with CyberConnect for Global Hackathon: Connected 2023

Global hackathon begins immediately with judges and mentors from major Web3 projects assisting in the production.
Connected 2023 Global Web3 Hackathon
BNB Chain has announced a partnership with CyberConnect to launch a social Web3 hackathon.
The hackathon will take place from Feb 7 - March 13, according to a press release shared with BSC News. Applications to participate will remain open until February 20. The hackathon begins with immediate effect featuring over $50,000 in prizes available, project support, and more.
“Connected 2023 aims to empower a new generation of innovators by helping them bring their Web3 social ideas to life and then to market. With this event, BNB Chain and CyberConnect will empower passionate builders to kick start their journey and grow their hacks into fundable protocols," said Wilson Wei from CyberConnect.
The hackathon will have an array of ways for participants to get involved, ranging from individualized workshops, developer info sessions, team-matching sessions, and more.
The event features cosponsors Notifi, Lit, Livepeer, and XMTP plus mentors and judges from major names like Animoca Brands, Multicoin Capital, StepN, and Binance.
Interested projects can apply here.
BNB Chain is also running a concurrent developer competition called Game Jam. Running during the entire month of February, Game Jam is a healthy competition to develop social games where projects can compete for similar incubation support as the CyberConnect 2023, however, it is more specific to BNB Chain.
What is BNB Chain:
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
Find more about BNB Chain here:
Website | Twitter | Discord | Telegram | GitHub |
What is CyberConnect:
CyberConnect is a decentralized social graph protocol with identity self-sovereignty and network effects. It enables users to create profiles on BNBChain as the anchor of users’ decentralized identities. Profile owners can travel across dApps seamlessly without worrying about recreating their network on every new platform. With CyberConnect, users own their social graph, content, monetization channels, and more social data. Link3.to for example is built on CyberConnect and has more than 1,100 verified organization clients, 23k users’ all-in-on link profiles, and 200k monthly active users issued more than 1m social-related transactions on BNB Chain.
Where to find CyberConnect:
Website | Twitter | Discord | GitHub |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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