Endurance 2.0 : New Standards in the blockchain gaming world
Aiming to provide new features and opportunities to users and developers, the newly upgraded Endurance 2.0 mainnet on March 5, 2024 was an important milestone for the Fusionist team, which aims to create an open, permission-less blockchain for games.
The Fusionist team, which is building the Endurance mainnet, successfully debuted in the Web3 scene, receiving a lot of attention from top-tier exchanges, including Binance and OKX. Endurance fully embraces Ethereum’s open protocol, ensuring developers go beyond simple code and contribute to the legacy that will shape the future of blockchain technology.
You can find more details in the devlog below written by Charles, CTO of Fusionist.
The Path to Decentralization
Within 80 days of launch, Endurance’s Active Validators quickly grew to 34.6K. And with 1.1M $ACE tokens staked, equivalent to 5% of the total circulating supply, the network became more stable.
In terms of decentralization and openness, this is clearly a tremendous growth. However, Endurance 2.0 faces some challenges just like the launch of ETH 2.0.
1. Token stakers who contribute to the stability of the Endurance network cannot participate in Fusionist’s new products such as Ace Arena.
2. While users are staking ACE, ACE cannot be traded or used as collateral.
3. Despite the detailed guide prepared by the Fusionist team, the barrier to entry is still high for general users to set up and operate a validator node on their own.
To maintain the initial stability of the network, the Fusionist team is running staking incentive events until the proportion of officially operating validators falls below 33%. Nevertheless, the fact that the proportion of third-party validators is not increasing rapidly is evidence of this barrier to entry.
Catalist : BASE for ACE
Catalist is the 1st liquid staking protocol on the Endurance mainnet developed to solve the problems mentioned above. Developed based on the Lido code, Catalist provides liquidity to staked ACE tokens and provides more validators to the Endurance, while allowing anyone to participate in staking with any amount of $ACE.
Just as Lido supported ETH staking in a more decentralized manner and more securely, Catalist plays a role in enhancing decentralization, security, and convenience by providing a Pooled Staking function on the Endurance mainnet.
By staking $ACE using Catalist, users will receive bonded ACE ($bACE) tokens that can be exchanged 1:1 for ACE at any time. bACE balance is automatically rebased 4 times a day, allowing you to earn higher staking profits than any other staking product except Solo Staking.
Key components and features
Easy and safe is the most important thing! If you have experience using Lido before, you will find it very easy to understand.
Catalist is a base for ACE token holders, giving them the ability to instantly stake their ACE tokens to validators with just a few clicks and earn staking rewards averaging 13–15% APR.
1) bACE : Bonded ACE
$bACE is a Bonded ACE token that represents staked ACE tokens. Users can exchange $bACE tokens for ACE tokens at any time at a 1:1 ratio.
- bACE(Bonded ACE) : 0xEc46D5a0EE47e585fab59A15976d0F2413BFBB82
And since staking rewards are automatically compounded, they are paid in $bACE.
2) wbACE : Wrapped bACE
$wbACE is a wrapped version of $bACE token (Wrapped bACE). $wbACE is required if you want to use $bACE tokens in a liquidated form, such as for trading or collateral in DeFi protocols, or participating in Launchpad.
Due to the nature of Catalist, where staking rewards are paid out every day, the balance of bACE continues to fluctuate, so the exchange ratio of wbACE : bACE generally continues to increase.
<Example>
1. Based on the current exchange rate, users can wrap 1,000 bACEs into 995.8 wbACE.
2. Even after wrapping, wbACE holders will still accumulate daily staking rewards.
3. When unwrapping, accumulated rewards are also paid, so you will receive 1,010 bACE.
However, there may be cases where the market price of wbACE and ACE in DEXs does not temporarily match the exchange rate of wbACE and bACE in Catalist. In this case, the exchange rate can be adjusted in the long term through traders participating in arbitrage.
What’s Next?
The 1st launchpad of Fusionist achieved a huge record with 4.68 million ACE tokens staked and 10,751 people participating. And starting with this, various events will continue on launchpad.
What if participation was possible not only with ACE tokens, but also with wrapped base (wbACE) tokens that contribute to maintaining the stability of the Endurance mainnet?
Token holders will be able to accumulate daily staking rewards and freely participate in various events taking place on the Endurance mainnet!
You can look forward to various events taking place in the future.
In the next post, we will introduce ‘HOW TO USE CATALIST’ through a detailed user guide.
Stay tuned, Endurancers!
- Official Website : https://catalist.app/
- X(Formerly Twitter) : https://x.com/CatalistFinance
- Medium : https://catalistapp.medium.com/
- Telegram(ANN) : https://t.me/CatalistApp
