For Ecosystem Expansion, CoinEx Smart Chain Facilitates Projects Deployment via its Multi-Million Dollar Supportive Plan
Recently, hit by the LUNA & UST meltdown, the Terra ecosystem has also collapsed, leading to over 80% losses in the value of all Terra-related projects. Before the meltdown, Terra used to be the second-largest DeFi ecosystem, covering more than 100 projects in such fields as DeFi, Metaverse, games, NFTs, etc. According to DeFi Llama, as of May 17, Terra’s TVL has dropped to around $200 million, and the TVL of the top 10 Terra-based protocols has also slumped, with an average drop of about 90% across 7 days.
Days after the crash, many Terra-based protocols are now trying to find a way out — migrating to another public chain. However, identifying a stable, efficient new public chain ecosystem and rebuilding the user trust and consensus should be a top concern for Terra developers.
There is no doubt that Ethereum, the largest public chain, is trustworthy, but Terra projects, which have suffered huge losses, cannot afford the expensive gas fees. As such, compared with Ethereum, other EVM-compatible public chains might be a better option. CoinEx Smart Chain (CSC), for example, offers not only an efficient, low-cost ecosystem but also funding support to projects via its Multi-Million Dollar Supportive Plan and Five-Million USD Special Funding Support for Metaverse Ecology. Empowering projects in terms of funding, technology, and user traffic, the public chain can speed up the migration and reboot of Terra.
Embrace Innovation and Make Solid Efforts on the Way Forward
CSC is backed by CoinEx Exchange. As a world-renowned exchange, CoinEx has a team consisting of the earliest practitioners in the blockchain industry with rich experience in crypto technology R&D and global operations. It has maintained a zero-accident record for five years. CSC, a public chain CoinEx independently developed, has also been running stable since its mainnet launch last June.
Success is never achieved overnight. As CSC believes, only with accumulated strength can one rise to fame, and only through solid efforts in technology development and ecosystem operation can it make steady progress and ultimately lead the development of the industry. As a public chain that is fully compatible with EVM, CSC adopts the innovative consensus mechanism of CPoS, generates blocks in seconds, and charges fees as low as 0.01 USDT, with an commitment to building a high-performance decentralized financial ecosystem. Since last year, CSC has completed a series of ecosystem expansion plans, evidenced by the cross-chain bridge products, hackathons, two major supportive funds, recruitment of Ambassadors, etc. Despite the fluctuations in the industry, CSC has stuck to its development path, and kept consolidating its underlying security architecture, thereby steadily expanding its ecosystem.
Find the next blockchain unicorn through the Multi-Million Dollar Supportive Plan
As more innovative categories continue to emerge, CSC has embraced the new blockchain segments. It welcomes all outstanding and promising developer teams that are looking for a new chain. With the Multi-Million Dollar Supportive Plan, CSC encourages more developers to migrate/build projects in the CSC ecosystem and enjoy improved development experiences.
After nearly a year of infrastructure construction, the CSC ecosystem has steadily moved onto the next stage, and its Multi-Million Dollar Supportive Plan has also found new targets, with an emphasis on a wide range of innovative dark-horse projects. To this end, the public chain has rolled out the Five-Million USD Special Funding Support for Metaverse Ecology to empower Fi+ projects.
Fi+ projects represent an experiment, extension and exploration of DeFi in different fields. The GameFi boom last year introduced the concept of Metaverse to non-crypto users. Data from GoinGecko shows that as of May 18, the market cap of GameFi stands at $9 billion, covering more than 300 projects. Meanwhile, SocialFi, which has become a major gateway to Web3, has also been growing rapidly. Although SocialFi now remains a minor category, it is redefining the display of personal values and will likely become a new creative way to financialize social interactions.
A public chain cannot have its value increased without a prosperous ecosystem, and excellent projects are the key to standing out from the cut-throat competition of public chains. To build a core ecosystem, CSC has launched Multi-Million Dollar Supportive Plan and Five-Million USD Special Funding Support for Metaverse Ecology, while constantly upgrading its underlying architecture. Backed by a professional tech team, such efforts aim to bring more project founders and ecosystem developers to join the CSC ecosystem and make it grow bigger.
Apply for the Supportive Plan: https://www.coinex.org/million_dollar_plan
Technology keeps evolving all the time. A solid underlying infrastructure is a prerequisite for fast innovation in response to new changes in the market. CSC’s Multi-Million Dollar Supportive Plan comes as a strong catalyzer for the development of emerging applications in the CSC ecosystem, covering projects of DeFi, NFT, Metaverse, Data DAO, SocialFi and privacy applications. It will benefit not only teams that have already built their projects on CSC but also those who plan to.