Understand Tuna Chain in one article: the first L2 to combine modularity and ZK technology in the BTC ecosystem

24-03-13 10:13
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Excessive gas, network congestion, unfriendly operating methods, and a series of situations where many users said that "there is not much left after transferring small funds on the BTC chain." This is probably Current status of BTC Layer1.

In this context, in order to lower the threshold of use and attract more users to join, the BTC expansion plan is urgent. In the current ecology where BTC Layer2 is flourishing, a BTC Layer2 that combines modularity, zero-knowledge proof and other market hot spots has emerged - Tuna Chain.

Tuna Chain’s solution and operating mechanism

Tuna Chain is a BTC Layer2 that combines modularity and zero-knowledge proof, integrating Ethereum’s EVM function into the world’s most trustworthy in cryptocurrencies. Not only that, it also has its own native stablecoin.

The project is inspired by Ethereum L2 and improves scalability through Optimistic Rollups and ZK Rollups. This progress improves the native return of BTC assets and can reduce Gas fees and providing a better environment for DApp execution on BTC Layer2. The privacy protection for users is mainly reflected in the ability to hide the amount, address and other detailed information in the transaction, and only show whether the transaction occurred.

Protect Bitcoin-native assets with Taproot upgrades

The recent Taproot upgrade of the Bitcoin network Brings new possibilities to enhance local asset security. It introduces features such as Schnorr Signatures, MAST, and Tapscript, while Tuna Chain adopts a multi-signature approach and plans to introduce external validators to protect native assets and enhance network security.

Transaction security on Tuna Chain

Transaction processing on Tuna Chain involves meticulous Transaction sorting and processing uses Celestia as its data availability layer (DA layer). The verifier ensures data consistency and promptly submits fraud evidence when discrepancies occur, thereby maintaining the integrity and security of the network and effectively solving the problem with Data availability challenges associated with Layer2 solutions.

Source: Tuna Chain Project Document

Token Economy

Tuna Chain clearly divides the functions and responsibilities of different tokens, and has a relatively complete idea of token economics. The entire ecosystem has three tokens, namely $TUNA, $TORO (ecologically native stable currency) and $WOOG

Among them $TUNA is the native token of the TunaChain network , which can be used to vote on network decisions. Active users of the TunaChain ecosystem may receive airdrops.

Tokens were launched on the Ethereum mainnet with a total of 210,000,000 tokens, of which 15% of the tokens were allocated to early contributors and 8.5% of the tokens were used as liquidity , 51% of the tokens are used in the entire ecosystem.

Token unlocking

And $WOOG is a token deployed on BRC20 and an exclusive ticket to experience the diverse ecosystem of Tuna Chain. The total supply of $WOOG is 1000, of which 200 WOOG tokens are scheduled to be distributed during the Bybit BRC20 Inscription Launchpad event.

The remaining 800 $WOOG is currently locked and will only be unlocked if activated by an external force in a subsequent situation.

Team background and financing situation

Team background

Tuna Nigiri on the team is a visionary leader with more than 3 years of experience in the blockchain industry and 6 years of experience in traditional industries. Tuna Chain is also a driving force behind the success.

Tuna Sushi is Tuna’s blockchain expert. 6 years of experience in cryptography, security, blockchain space, and privacy. Core builder and owner of multiple mature crypto products, including custodial wallets, DeFi protocols, exchanges (DEX and NFTs), and more.

And Tuna Sashimi is an experienced blockchain marketer and planner with three years of experience in the field and successful listings of VC-backed projects and top CEX tokens.

From the perspective of members, the Tuna Chain project team members have rich blockchain business management experience and advanced technology research and development capabilities. Each member uses their expertise to jointly promote the construction and technology research and development of Tuna Chain, and may achieve great success in Bitcoin Layer 2 in the future.

Project partners and investors

Tuna Chain has been developing with Bybit for two months , OKX, Unisat, BSquaredNetwork, BVMnetwork, Meson Finance, FjordFoundry have reached cooperation, and received investment from ArkStream Capital, Faculty Group, Black Mamba Ventures, Cogitent Ventures, Digital Strategies, MH Ventures, Serafund and other partners.

ArkStream Capital is one of the leading venture capital institutions in the industry, and its investment portfolio includes $AAVE, $FIL, $FLOW, $SEI, $DOT, etc. . The institution also pays more attention to the BTC ecosystem and has invested in BitSmiley and Merlin Chain.

Whether it is a partner or an investment institution, the lineup is relatively luxurious, which may be an affirmation of the project.

How to participate in Fjordfoundry’s LBP?

The token will be launched on the FjordFoundry platform as an LBP (Liquidity Boot Pool).

Starts on March 12, 2024 at 1:00 PM UTC and ends on March 17, 2024 at 1:00 PM UTC Finish.

First briefly introduce LBP , it works like a Dutch auction, with token prices starting high and then gradually falling. Price shifts are determined by changes in token weights within the pool. Benefits include the inability of bots to snipe openings, reducing the impact of whale manipulation, etc. This ensures fair distribution, promotes community engagement and trust, and democratizes early access.

After depositing tokens in the wallet, click on the Fjord Foundry official website, click the "Connect Wallet" button in the upper right corner of the screen, and then select the wallet.

The above "Connect wallet ” button displays part of the wallet address, indicating that the wallet has successfully linked to the website.

Choose what you want to participate After the LBP, the following content will be displayed, which may vary depending on the status of the LBP (not yet started or has ended). The image below is an example of an LBP in progress.

When the current price is When you think the market price is fair, you can start buying. After the transaction is completed, the project token balance can be seen.

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