Octopus Network Monthly Report — December 2022
December 2022 Highlights
- Substrate-IBC module is basically completed. Pull request #13011 has been committed to the Substrate repository.
- The Fxdx exchange of the Fusotao ecosystem has added WETH/USDT trading pairs.
- Abyss World, a AAA level Web3 game incubated by Portalverse, the cloud game protocol of Octopus network ecosystem, revealed its trailer for the first time.
- Octopus Network Marketing Team is transforming into a Business Development Team. In the future, it will pay more attention to one-to-one partnerships, especially institutional investors and incubators which will be more cost-effective in discovering and introducing more Web3 appchains.
- In 2023, Octopus Network 2.0 will be built with IBC & NEAR as the core.
- In order to better adapt with the current challenging market, Octopus Network has implemented a Voluntary Separation Program for the core team. At present, 40% of the core team, or 12 people, will leave the core team. The remaining team members will take a 20% salary reduction, and the team token incentive will be suspended indefinitely.
- Octopus Accelerator 2022 Winter batch ended successfully on 21st December 2022.
- Founder Louis Liu was invited to participate in the Golden Tea Awards Ceremony hosted by BlockChain Tea House and delivered a keynote speech on “The Road to the Mainstream of Web3 Games”.
R&D
Octopus Network & Apps
https://mainnet.oct.network/appchains
- Implemented the feature of modifying the minimum staking amount of appchain validators via Octopus DAO.
- Officially released Barnacle EVM v0.9.30, an updated version of the EVM-compatible application chain development template.
- Optimized the Octopus pallets, off-chain services, and deployment tools.
Octopus Network Smart Contracts
The Octopus Relay is a set of smart contracts on NEAR Protocol that enables the consensus validation algorithm between Appchains and NEAR. There are two primary smart contracts, each with different uses:
- Anchor acts as the main connection between the Substrate-based appchains’ Octopus pallets and NEAR.
- Registry maintains metadata for each appchain in the Anchor contract.
The Octopus Anchor contract has been updated to support TEE Relayer PoC(Proof of Concept) and other functions.
Octopus Network IBC Module
NEAR IBC Module
Core components for implementing IBC on NEAR
https://github.com/octopus-network/near-ibc
Substrate-IBC
With Substrate IBC, Octopus Appchain can finally be fully interconnected with Cosmos and Polkadot
https://github.com/octopus-network/substrate-ibc
Substrate-IBC module is basically completed. Pull request #13011 has been committed to the Substrate repository.
Octopus Network Cross-Link Bridge
https://mainnet.oct.network/bridge
- NFT cross-chain feature has been enabled on EVM compatible appchains.
- TEE Relayer PoC(Proof of Concept) has been implemented.
Octopus Network Appchain Ecosystem
As of December 31, 2022, five Appchains have launched and eight Appchain Candidates are in various stages of development.
Appchains Running on Mainnet
- DeBio.Network — Launched
- Myriad — Launched
- Atocha — Launched
- Fusotao — Launched
- Discovol — Launched
Appchains in Development
- Unique One Network — Booting
- Attarius — Development Status
- Create Protocol — Development Status
- PortalVerse — Development Status
- TrustRecruit — Development Status
- Yogain — Development Status
- Plats — Development Status
- Horizonland — Development Status
Appchain Events
Fusotao Protocol
Fusotao Protocol is DEX infrastructure for building DEXs with trading privacy, minimal gas fees, and lower trading costs.
According to Fusotao’s weekly report, 19th December 00:00 UTC — 26th December 00:00 UTC:
1. Fxdx Staking APY — 121.12%（+37.38%）
2. Staked TAO — 1,516,382TAO
3. $TAO Holders — 265 (+0.38%）
4. Ending TVL — 6,813,744
5. Fusotao Appchain Delegators: 524
Fxdx officially added WETH/USDT trading pairs
On 21st December, Fusotao’s Fxdx added WETH/USDT trading pairs.
Myriad.Social
Myriad is a decentralized social network to turn Web2 content into sovereign Web3 data on its app, messenger, and Metaverse.
Myriad is available in Nova Wallet. Users now can manage $MYRIA in Nova Wallet.
Atocha Protocol
Atocha Protocol is a decentralized protocol for creating and solving puzzles with prizes.
Atocha Commemorative NFT Option Claim
Portalverse Network
PortalVerse is a decentralized cloud gaming network for open and highly immersive virtual worlds (MMOs).
The official Twitter of IGN, a well-known gaming media, released the first trailer of the APRG game Abyss World. This is the first Web3 game video released by IGN. Abyss World is also the first AAA level APRG game incubated by Portalverse, a decentralized cloud game protocol in the multi-chain ecosystem of Octopus Network.
Abyss World partnered with Portalverse to create a decentralized cloud distribution network that allows players to enter Abyss World at any time and from any device to explore the mysterious “Nordenia” and obtain unique rewards.
https://medium.com/media/3fb00ed9b23db658cb0076ff9fbe2ac7/href
UniqueOne.Network
UniqueOne.Network is building a multi-layered value ecology with “NFT Marketplace-Metaverse-DeFi” structure.
UniqueOne.Network has completed the refund of Skyward IDO participants and issue an announcement on the follow-up IDO to announce the details：
Octopus Network Community Governance
Octopus Network Ecological Data
As of Dec 31, 23:59 UTC:
- Total $OCT pledged — 8,564,6232
- Total annual revenue — $109,8153
- Total number of validators — 694
- Average annualized staking returns — 7.4%
Octopus Network Community Call#5
The 5th Octopus DAO Community Call was a particularly lively event with rich community discussion.
Some key points from Community Call #5:
NEAR IBC Module
We have already begun the development of NEAR IBC which could connect NEAR and Octopus Network into a unified internet of blockchains and allow Octopus Network to offer services to Cosmos SDK based appchains, effectively doubling our addressable market.
First Chinese Cosmos Developer Training
Octopus Network co-hosted the first Chinese Cosmos developer training with Cosmos China, Bianjie AI, IBCL, HashKey Capital and Wanxiang Blockchain Lab. We hope to facilitate the birth of a real and meaningful Chinese Cosmos Developer community. By being the founding participants and contributors in this community, we will benefit from the prosperity of this community.
Appchain voting enabled on Octopus DAO
We built Octopus DAO in Astrodao and enabled appchain voting, and we are also working on other things that can be voted on by the DAO.
Marketing strategy shift
The marketing team is transforming into a Business Development Team. In the future, it will pay more attention to one-to-one partnerships, especially institutional investors and incubators which will be more cost-effective in discovering and introducing more Web3 appchains.
Core Team Refactoring for Octopus 2.0
The Octopus Network core team will be refactoring as we adopt a refined project strategy to adapt to market conditions.
- Octopus 2.0 will facilitate NEAR’s position as an inherent part of the blockchain Internet by widely connecting various appchains (Substrate or Cosmos SDK based) and all IBC-enabled blockchains.
- Roughly 40% of the members (12 of 30) will leave the core team through the Voluntary Separation Program. The remaining team members will accept a 20% salary cut, and the team token incentive will be suspended indefinitely.
Octopus Accelerator Program
Octopus Accelerator 2022 Winter ended successfully on December 21, 2022. In this batch, we admitted 61 projects from countries worldwide. Due to the impressive quality of the applications in this batch, 12 projects were invited to present their MVP for a chance to win the Octopus Star Prize and up to 50k in grants. And the winners are DeepMine, Aridia Labs, Gamifly, Frac, and Black History DAO.
DeepMine
https://medium.com/media/1f719e248dad5dca0f26f6fd19f26ec6/hrefDeepMine is a P2E social economic strategy game in an ever-expanding Sci-Fi Metaverse. With an emphasis on communication and collaboration, DeepMine is reimagining the way players cooperate, develop, and earn together. DeepMine wants to create a true metaverse economy where different projects can exist separately, but are also deeply interconnected to enhance the experience for all players and create sustainable long-term ROI.
Aridia Labs
Aridia Labs is building a comprehensive multichain Web3 Gaming Hub to close the gap between the Web2 and Web3 gaming industries. Aridia wants to provide a simple and attractive digital infrastructure solution for Web2 gamers and developers who want to transition to Web3 without exposing themselves to unnecessary risk in the crypto industry.
Aridia’s first indie game, Everlasting, will be leveraged as a proof of concept to display its streamlined processes, SDKs and APIs, and showcase what its platform is capable of.
You can get in on the beta of Everlasting here.
Gamifly
Gamifly is a global Web3 gaming gateway with multiple free2play games, supporting tournaments, NFT in-game assets, and player rewards without requiring any upfront investment from players.
In addition, Gamifly’s P2E scheme will reward players in USDC so they can enjoy gameplay without worrying about market volatility. GamiFly’s Cricket Fly is a Sci-Fi themed cricket game currently available on Google Play.
Frac
Frac is on a mission to raise global economic prosperity via the fractionalization of alternative asset classes. Frac is designing a blockchain-based infrastructure with open source nodes to provide enhanced liquidity for creators and asset owners. Frac’s services are to include:
- F-NFT Marketplace — A fractionalization technology (FracTech) powered marketplace with auction capabilities allowing holders to fractionalize their physical or digital assets using F-NFTs (fractionalized NFTs) that can then be traded on the marketplace.
- Asset-Backed Yield Program — Allows individuals to partake in investable asset classes previously unavailable to the public.
- Transaction and Treasury Services (TTS) — Designed to increase platform utility and customer returns via staking, trading bots, and debit card withdrawal services.
Black History DAO
Black History DAO is a web3.0 black history metaverse guild, NFT-based archaeological funding platform, and blockchain archive dedicated to collecting, preserving, and sharing accurate stories of black history by immutably anchoring verified information on chain.
Octopus Network Global Substrate Developer Training
The application chain project based on the Substrate framework is the foundation of Octopus Network multi-chain construction.
Vietnam Substrate Training
- The lessons of the fourth course have been completed, and the mini-hackathon has begun.
Octopus Network Global Influence
Outlook for 2023 Web3 & Crypto
On December 28, a Twitter Spaces with the theme of “What to Expect in 2023?” powered by Octopus Network was hosted by Web3 advocate Vivi Lin and brought together several industry experts to reflect on the past year as well as look ahead to 2023.
You can listen to the full episode on Spotify.
OCT Token Info Updated on Coingecko
The circulating supply of OCT tokens was registered on Coingecko. The $OCT token is now at #805 rank by market cap.
Founder Louis Liu was invited to participate in the Golden Tea Awards Ceremony
On 28th December, Octopus Network’s founder Louis Liu was invited to participate in the blockchain gaming sub-forum of the Golden Tea Awards Ceremony hosted by BlockChain Tea House and delivered a keynote speech on “The Road to the Mainstream of Web3 Games”. Louis believes that the breakthrough point in the future of Web3 games lies in the separation of ownership and management rights. It is visionary for developers to choose to apply the appchain technology stack to develop Web3 games.
中文版本 by MiX
Follow Octopus Network!
- Website: https://oct.network/
- Twitter: https://twitter.com/oct_network
- Accelerator Program: https://accelerator.oct.network/
- Medium: https://medium.com/oct-network
- Discord: https://discord.gg/6GTJBkZA9Q
- Telegram: https://t.me/octopusnetwork
- Youtube: https://youtube.com/channel/UCkMYDmXdgjCBTBggSEAy0ZQ
- Github: https://github.com/octopus-network
- Docs: https://docs.oct.network/
Octopus Network Monthly Report — December 2022 was originally published in Octopus Network on Medium, where people are continuing the conversation by highlighting and responding to this story.