What is Union (U)? What Does It Aim to Achieve?

Union aims to deliver a secure, fast, and cost-effective interoperability solution for the blockchain ecosystem. It overcomes the centralization, high costs, and performance limitations of traditional bridging systems through zero-knowledge technology. CometBLS provides an optimized consensus mechanism tailored for ZK proofs compared to Tendermint, while Galois generates proofs for 128 validators in just 7 seconds, ensuring a low-cost, censorship-resistant, and decentralized system. Union makes cross-chain asset transfers secure and transparent, supporting the development of DeFi protocols and Web3 applications on a decentralized infrastructure. By enhancing horizontal scalability, Union strengthens Web3’s potential to become a global financial system.

CometBLS and Galois

CometBLS is Union’s consensus mechanism, leveraging Boneh-Lynn-Shacham (BLS) signatures to reduce transaction verification costs. This system supports hundreds of validators and offers resilience against quantum attacks. BLS signatures enable aggregated verification, reducing transaction size and on-chain computation costs compared to ECDSA. The MiMC hash function enhances performance in ZK circuits, further optimized in CometBLS V3. Epoch-based validator rotation minimizes light client updates, boosting relayer profitability and lowering user fees. Future enhancements, such as Verkle Trees, will further reduce proof times and costs.

Galois, Union’s zero-knowledge proof system, is built on three core principles: speed, low cost, and censorship resistance. Using the Gnark zk-SNARK library and gRPC, Galois generates proofs for 128 validators with 5GB of RAM in 7 seconds, enabling proof production on entry-level consumer laptops. This reduces reliance on expensive cloud infrastructure and promotes decentralization. Planned upgrades include Verkle Tree support, formal verification with Lean, and proof caching to minimize redundant work and encourage decentralized sequencer orchestration.

Connections and Channels

Union replaces single-chain connections with multi-connection and channel standards. Direct connections enable single-hop communication, while recursive connections support multiple hops via statelens. Each connection encodes a finality mechanism (e.g., soft or hard finalization on Arbitrum) and security level. Channels support various protocols and operate independently of connection type. This design abstracts complexity for developers and users, making connections function like simple sockets. Union’s Voyager relayer uses finite state machines to ensure data integrity and fast startup times, processing transactions in parallel for enhanced speed and reliability.

Union (U) Tokenomics

The Union token (U) is an ERC-20 token with a total supply of 10 billion and an initial circulating supply of 1,919,050,000. As the network’s native gas token, U serves three primary functions:

• Dynamic Fee Market: Used for proof aggregation, light client updates, and cross-chain operations. Participants can pay higher fees for priority transactions.

• Network Security: Validators and delegators stake U to secure the network and earn rewards. Cross-chain staking supports participation from chains like Ethereum.

• Cross-Chain Governance: U holders vote on parameter changes, validator updates, and protocol upgrades, contributing to governance decisions.

Token Distribution

• Community Incentives: 12% (4% at TGE, 8% for future airdrops and liquidity incentives)

• Ecosystem: 14.1% (40% at TGE, 2-year linear vesting; for developer programs, grants, and partnerships)

• DAO Treasury: 12.5% (12.5% at TGE, 3-year linear vesting; for community-driven governance)

• Foundation: 20% (40% at TGE, 2-year linear vesting; for network development and operations)

• Strategic Investors: 21.4% (1-year cliff, 1-year linear vesting)

• Core Contributors: 20% (1-year cliff, 2-year linear vesting)

U launches with a 6% annual inflation rate, decreasing by 10% yearly until reaching a long-term rate of 2%. Staking rewards for locked tokens are locked for 12 months and managed by the Union Foundation for ecosystem incentives. The Union Staking Vault, integrated with Tower DEX’s U/eU pool, offers 120-140% reward rates through liquidity provision and arbitrage. Users receive vU tokens representing their vault positions.

Union (U) Investors

Union has raised $12 million, with investors including Sandeep Nailwal (angel investor), LongHash Ventures, gumi Cryptos, Borderless Capital, Foresight Ventures, Blockchange Ventures, TRGC, Gate Ventures, Presto Labs, Tioga Capital Partners, Dispersion Capital, LBank, TPC, Ambush Capital, Veris Ventures, AGE Fund, Keplr, CelestineSloths, and angel investors Zaki Manian, Rushi Manche, Michael Heinrich, Anurag Arjun, Ekram Ahmed, Jack Zampolin, Sinan Koc, Jon Kol, Murat Akdeniz, Orkun Kilic, Elias Tazartes, Shane Vitarna, Dean Tribble, and ATOM Accelerator.

Union Team

Union is led by a skilled team:

• Karel Kubat: Founder and CEO

• Cor Pruijs: Co-Founder and CTO

• Abdullah Eryuzlu: Co-Founder and Software Engineer

• Emir Beriker: Co-Founder and Head of Strategy

• Hussein A.: Co-Founder and Principal Engineer

• Ben Luelo: Co-Founder

• Connor Davis: Co-Founder and Engineer

• Sarah Luehrs: COO

• Stephen Gee: CMO

• Smokey the Bera: Advisor

Union leverages zero-knowledge technology to build a secure, fast, and cost-effective bridge between blockchains, empowering the future of DeFi and Web3. Its decentralized and scalable infrastructure supports horizontal scalability and establishes a reliable interoperability standard.

Official Links

• Website
• X (Twitter)
• Whitepaper

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The post What Is Union (U)? appeared first on Coin Engineer.

Scroll (SCR) is known for its innovative solutions to scalability problems, especially in blockchain technology. Developed as a Layer 2 solution on the Ethereum network, Scroll stands out with its aim to reduce transaction costs and increase transaction speed. With these features, the listing of Scroll offers an alternative for users who want to cope with the high transaction costs on the Ethereum network and contributes to the increase in interest in Ethereum-based projects.

OKX exchange aims to increase the transaction volume on the platform with Scroll (SCR) and offer its users a variety of trading options. OKX officials stated that the new listing will encourage innovation in the crypto ecosystem and attract great interest among users. With the scalability solutions that Scroll offers to its users, it is expected to pave the way for more adoption in the crypto world.

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OKX will offer the SCR/USDT trading pair, allowing users to buy and sell Scroll directly with Tether (USDT). Details about the listing date and time of this new trading pair will be included in OKX’s official announcements. Crypto investors are advised to closely follow Scroll’s performance and consider potential market movements after the listing.

With Scroll’s listing on OKX, new opportunities will arise for investors, and it seems that interest in Layer 2 solutions, especially in the cryptocurrency ecosystem, will increase even more.

You can join our Telegram channel to not miss the news and stay informed about the crypto world.

The post OKX to List Scroll (SCR) for Spot Trading appeared first on Coin Engineer.

What is Scroll?

Scroll is known as a platform that provides scaling solutions to the Ethereum network. Using Layer 2 technologies, Scroll aims to increase the speed of the network and reduce transaction fees. Developed as a solution to Ethereum’s scalability problems, this platform is especially popular with decentralized finance (DeFi) projects and NFT applications.

A New Era in Coinbase Futures

Coinbase’s inclusion of Scroll in its futures list allows investors to trade both price increases and decreases. In this way, investors will be able to direct their expectations about Scroll’s future price movements more strategically. Futures offer more liquidity and diversity in the cryptocurrency market, while also creating risk management opportunities for experienced investors.

Coinbase’s Growing Product Range

Coinbase continues to offer investors more options with new listings. The addition of Scroll to the futures list is considered an important step in the exchange’s growth strategy. The inclusion of new tokens in the platform’s futures section is part of Coinbase’s goal to appeal to a wider audience.

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In this period of high volatility in crypto markets, the opening of projects like Scroll to futures is among the developments expected to have a great impact among investors.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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Pencils Protocol: Revolutionizing DeFi with Scroll Technology

Scroll’s zero-knowledge technology (zk-rollups) is transforming Layer-2 solutions. By employing zk-rollups to scale the Ethereum network, Scroll ensures fast and reliable transactions. Pencils Protocol is leveraging this technology to stand out in the Layer-2 space. Its innovative solutions extend beyond yield aggregation and liquid staking, playing a crucial role in auctions that integrate with popular ecosystems like Ethereum and Solana.

Click here to join the Pencils Protocol pre-sale

Contributions to the DeFi Ecosystem

Pencils Protocol holds the distinction of being the first native dApp on the Scroll ecosystem. This highlights the platform’s pioneering steps in next-generation DeFi solutions. The low transaction fees and fast confirmation times provided by Scroll strengthen Pencils Protocol’s growing user base and increasing total value locked (TVL).

• $300 Million Total Value Locked: The platform boasts an impressive $300 million in TVL, ranking third among farming TVLs across multiple chains.
• Growing Community: Pencils Protocol is backed by a rapidly expanding user base, with over 400,000 active community members contributing to its global reach.
• Rising User Numbers: The platform has gained more than 250,000 users, demonstrating broad adoption and popularity.

Core Products: Staking, Vaults, and Auction Services

Pencils Protocol’s core offerings include staking and vault services. These allow users to pool assets and take leveraged positions to maximize their returns. Liquid staking and restaking solutions enable users to generate passive income by staking popular cryptocurrencies like Ethereum and Bitcoin. Additionally, the platform enhances the DeFi ecosystem by providing auction services for RWAs.

• Staking & Vaults: Users can maximize their assets through combined and leveraged yield aggregation services, allowing them to earn more from staked assets.
• Liquid Staking and Restaking: Pencils Protocol offers liquid staking solutions for cryptocurrencies like Ethereum and Bitcoin, enabling users to keep assets liquid while earning staking rewards and participating in other investment opportunities.
• Auction and Launch Services: The platform facilitates auctions for blockchain-based assets and RWAs, giving users the opportunity to participate in altcoin sales and monetize their holdings.

Partnerships and Industry Support

Pencils Protocol is building a robust ecosystem by partnering with leading DeFi and Web3 projects. The platform integrates with solutions such as Scroll, Solv Protocol, Kelp DAO, Puffer, Stakestone, and Etherfi, providing users with comprehensive solutions across DeFi and real-world assets. These partnerships enable Pencils Protocol to expand its reach and impact.

Industry Support and Strong Financial Backing

One of the main factors solidifying Pencils Protocol’s position in the industry is the backing from prominent investors and venture capital firms. Giants like OKX Ventures, Animoca Brands, Presto Labs, Gate.io Labs, Galxe, Taisu Ventures, Bing Ventures, Depin X, and Black GM Capital are providing funding and support, fueling the platform’s growth.

How to Join the $DAPP Pre-Sale?

• First, you’ll need a wallet, and for this guide, we’ll use Metamask.
• Once Metamask is set up, visit the Pencils Protocol website by clicking here.
• Connect your wallet, and there are just two simple steps to join the pre-sale:
  1. Complete the KYC (identity verification).
  2. Ensure your wallet contains $ETH on the Ethereum or Scroll network. After these steps, you’ll be guided by a pop-up window to continue with the pre-sale.

Overview of $DAPP Token Sale

• Platform: TokenSoft
• Network: Ethereum Mainnet and Scroll
• Token Symbol: DAPP
• Sale Prices: $0.8 – $1.2 – $1.5
• Purchase Limits: Minimum $100 – Maximum $200,000
• Purchase Rules: The sale operates on a first-come, first-served basis, limited to the first 5,000 participants.
• Accepted Payment Methods: ETH, USDT, USDC
• Total Supply: 100,000,000 $DAPP
• Initial Supply: 20,000,000 $DAPP

Pencils Protocol Tokenomics

The platform’s native token, $DAPP, offers attractive opportunities for investors. Benefits include profit-sharing from platform transactions, participation in staking and vault services, and potential value appreciation as the platform’s user base and TVL grow.

Shaping the Future of DeFi with Pencils Protocol

As the DeFi sector continues to evolve, Pencils Protocol stands out as one of the leading projects driving this growth. Integrated with Scroll’s zero-knowledge technology, the platform enables users to manage their assets more efficiently and securely. Additionally, its auction services provide a wide marketplace for RWAs.

With its growing user base, strong ecosystem partnerships, and industry backing, Pencils Protocol is well-positioned to become a leading force in the DeFi space. Investors interested in seizing this opportunity should consider participating in the $DAPP token sale.

Why Choose $DAPP?

$DAPP is a key component in Pencils Protocol’s operations. It plays a central role in governance, auction collateral, and more, fostering community engagement. Instead of dividends, the platform encourages active participation and value creation through $DAPP.

Key uses of $DAPP within Pencils Protocol:

• Governance: $DAPP holders can influence decisions on the platform’s future through its governance mechanisms.
• Yield Farming: Users can earn extra rewards by staking or farming $DAPP.
• Auction Collateral: Collateral for RWAs and blockchain-based assets can be provided using $DAPP.
• Vault Privileges: $DAPP holders enjoy special access to the platform’s vault services.
• Financial Services Expansion: As DeFi solutions broaden, $DAPP plays a critical role in supporting the platform’s expansion.
• Rewards System: $DAPP is tied to the platform’s points system, rewarding users for participation.
• Virtual Store: Users can use $DAPP for various transactions and services in the platform’s virtual store.
• Buyback Mechanism: The platform buys back $DAPP tokens to control supply and stabilize their value.

$DAPP is not only a promising investment but also a critical element for engaging with and benefiting from the Pencils Protocol ecosystem.

You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don’t forget to follow us on our Telegram,YouTube and Twitter channels for the latest news and updates.

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Base Surpasses OP Mainnet to Become Largest OP Stack-Based Layer 2 Network

According to DeFiLlama data, the network’s total value locked (TVL) has increased by 20% since the beginning of May to $1.7 billion.

Launched to the public in early August 2023, Base’s mainnet positioned itself as the third most valuable Layer 2 blockchain in terms of TVL, trailing Arbitrum’s $3.81 billion and Blast’s $2.26 billion.

This significant milestone highlights Base’s rapid growth and increasing adoption among decentralized applications (dApps).

The network’s prominence has been largely fueled by the decentralized exchange Aerodrome, which has contributed $714 million in deposits. Uniswap follows as the second-largest contributor with $312 million.

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Base Places Itself at the Forefront of the Superchain Ecosystem

These developments place Base at the forefront of the Superchain ecosystem, an interconnected Layer 2 rollup network built using the OP Stack software suite.

This ecosystem aims to enhance Ethereum’s scalability and efficiency by executing transactions off-chain, thereby reducing the burden on the main Ethereum blockchain.

Base Utilizes an Optimistic Rollup Model

Base, along with other optimistic rollups like Arbitrum, Blast, and OP Mainnet, operates by assuming all transactions are valid by default and only verifying them when fraud proof is presented.

This approach contrasts with zero-knowledge rollups like zkSync, Loopring, and Scroll, which provide cryptographic proofs for transaction validity upfront.

What Base’s Growth Means for the Ethereum Ecosystem

Base’s impressive growth and strategic integration within Superchain underscore its potential to drive further innovation and scalability within the Ethereum ecosystem.

The post Coinbase-Developed Project Surpasses OP Mainnet to Become Largest Layer 2 Network! appeared first on Coin Engineer.

This article dives deep into Scroll’s features, technology, and benefits, helping you decide if it’s the right choice for your Ethereum development needs.

Key Takeaways

• Scroll is a Layer 2 scaling solution for Ethereum, utilizing zkEVMs (zero-knowledge Ethereum Virtual Machines) for efficient transaction processing.
• zkEVMs enable Scroll to bundle multiple transactions, significantly reducing data stored on the main chain and boosting transaction throughput.
• Scroll prioritizes developer experience, offering a familiar EVM environment and seamless integration with existing Ethereum tools.
• Features like Sepolia testnet, faucet, bridge, and Scrollscan empower developers to build and test dApps with ease.

What Is Scroll?

Ethereum’s scalability limitations are no secret. Scroll tackles this challenge with zkEVMs, a cutting-edge technology that combines zero-knowledge proofs with the familiar EVM environment. This powerful duo allows Scroll to:

• Validate transactions off-chain, drastically reducing on-chain data and transaction costs.
• Generate cryptographic proofs confirming the validity of off-chain transactions, ensuring network security.
• Maintain compatibility with existing Ethereum tools and dApps, making it easy for developers to adopt Scroll.

Scroll’s Architecture: Working in Harmony

Scroll’s architecture comprises several key components that work together seamlessly:

• Scroll Nodes: Handle block creation, proof generation, and communication with the Ethereum mainnet.
• Roller Network: Utilizes specialized hardware (GPUs/ASICs) to generate zero-knowledge proofs efficiently.
• Rollup and Bridge Contracts: Manage ZK-rollups, ensuring smooth transitions between Scroll and Ethereum.

Developer-Centric Features for a Smooth Experience

Scroll recognizes the importance of developer experience. They offer a range of features to streamline your workflow:

• Sepolia Testnet: Experiment with building dApps in a risk-free environment, replicating both Ethereum and Scroll layers.
• Faucet: Access free testnet tokens to develop and test your dApps without spending real funds.
• Bridge: Easily move assets between Scroll, Ethereum, and the Sepolia testnet with full transparency and control.
• Scrollscan: Explore transactions, tokens, addresses, and crypto prices effortlessly within the Scroll ecosystem.

Scroll vs. the Competition: Why Choose zkEVMs?

Several Layer 2 solutions address Ethereum’s scalability issues. However, Scroll stands out with its unique approach:

• Unmatched Scalability: ZK-rollups enable significant transaction throughput reductions compared to other Layer 2 options.
• Enhanced Security: Zero-knowledge proofs guarantee the validity of every transaction, maintaining Ethereum’s security standards.
• Developer-Friendly EVM Compatibility: Seamless integration with familiar Ethereum tools and dApps minimizes development hurdles.

Is Scroll the Future of Ethereum Scaling?

With its innovative technology, developer-centric approach, and impressive features, Scroll presents a compelling solution for scaling Ethereum projects. If you’re looking to build secure, high-performance dApps without sacrificing user experience, Scroll is definitely worth exploring.

The post What Is Scroll? Native zkEVM Layer 2 for Ethereum appeared first on Coin Engineer.

A zkEVM solution like Scroll aims to provide higher efficiency and lower transaction costs for decentralized applications running on Ethereum. This type of solution processes thousands of off-chain transactions, merges them into a single transaction, and then sends proof in the form of a minimum data summary to the Ethereum mainnet.

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450,000 smart contracts were deployed (Scroll)

According to Etherscan data, the first smart contract in Scroll’s mainnet has been operating live since the day it was posted to the Scroll mainnet on October 8. However, this does not conflict with the initial announcement, as the project’s team confirmed the start of the launch and stated that their platform operates “seamlessly right out of the box”.

Scroll stated that it completed extensive tests and security audits on three separate test networks before launching the mainnet. The Scroll team added, ” OpenZeppelin and Zellic audited our bridge and aggregator contracts. ZkEVM circuits were reviewed by Trail of Bits, Zellic and Kalos. On these three test networks, over 450,000 smart contracts were deployed to facilitate over 90 million transactions in a total of 9 million blocks. The company also noted that they produced 280,000 ZK proofs.

About a month ago, Scroll’s co-founder Ye Zhang, stated in an interview that Scroll would start with centralized features, but aimed to gradually decentralize over time. Zhang said, “We will initially have a centralized sequencer and centralized confirmation button.” However, he also highlighted that a plan is in place to remove this button in due course.

In the comment section, you can freely share your comments about the topic. Additionally, don’ t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates.

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