Hyperledger Fabric is an open source, modular blockchain architecture developed by the Decentralized Trust. Compared to many other chains in the web3 world, Hyperledger Fabric has distinct utility because of its unique pluggable consensus, horizontal scalability and innate ability to be customized.
Check out the replay of the live stream from October 2nd with Gala’s own Koushik Gavini as he dives deep into the details of our L1 blockchain, built for entertainment but ready for anything.
Why Hyperledger Fabric
Hyperledger Fabric was designed to be the basis of enterprise-level solutions, and it’s currently used by nearly 150 businesses that leverage it as an immutable ledger in their ecosystems. It’s capable of customized permissions and has a modular architecture that allows each channel to develop how they need to for specific projects.
/OPTGC
This is huge for the world of entertainment, where some data often must be masked for security purposes, but a public ledger is still required. Permission control lets developers control access to certain functions within their own channel, so that they can build how they want.
Finally the horizontal scalability of the multi-channel approach to blockchain allows developers to prioritize what they need. Need transactions on your channel to be lightning fast? You can do that. Real-time applications demand real-time speeds and responsiveness, and the needs of your channel are all you need to worry about.
Building Bigger and Better
Since Hyperledger Fabric was designed specifically to function at a high level for businesses, there’s tons of utility that can be built on it. Consensus, governance, a decentralized and immutable ledger – these things are all present, but they increase HLF’s utility rather than limit it.
The fact that Fabric was designed for utility, however, makes it so that developers can create unique networks using GalaChain channels that can do things no other chain out there can. Features like permissioned allowances, full oracle support and external wallet authorization make developing a competitive, next-generation project on GalaChain easy.
What’s more, developers can hop right into GalaChain. Using the powerful Fablo tool (contributed to the HLF community by the Gala team), devs can easily set up a network and be running right away. Execute chaincode in your first hour on your own channel.
Most chains you have to learn an obscure, clunky language for development. Not with GalaChain! Write chaincode and smart contracts in TypeScript – the fifth most popular programming language in the world!
Build With Us
GalaChain is getting more and more developed all the time, and the time to hop in is NOW! The innate utility of Hyperledger Fabric has helped us create something that’s simple, accessible and extremely powerful on GalaChain.
No matter what you want to build, you’ll find powerful solutions on GalaChain https://galachain.com/
The world of Common Ground World is about to get even more exciting with the release of the brand-new Daily Challenges feature! With this substantial update, players will now have the chance to participate in daily events to unlock rewards in the form of $SOIL, the latest in-game token exclusive to GalaChain. This update brings fresh opportunities for players to explore, compete, and grow their farms while collecting performance-based rewards.
$SOIL will officially launch soon, but for now, you can collect $DIRT, for which $SOIL will automatically be awarded once it is released on GalaChain.
The new Daily Challenges feature is designed to bring an extra layer of excitement and rewards to your farming adventures. Each day, you’ll find a new Daily Challenge in the Events category of the game, where you can participate using your Reward-eligible NFTs (list provided below).
Complete tasks like producing or selling certain crafts before the day ends, and watch as your efforts generate a portion of that day’s available $SOIL rewards!
The amount of $SOIL you collect is based on how much you contribute to the daily pool, which is determined by your performance in Town Points. Players who contribute more Town Points will receive a higher percentage of the $SOIL pool. This competitive structure is sure to keep the game fresh and engaging for everyone.
What Can You Do with $SOIL?
In the same way that healthy soil is an essential ingredient of any effective farm, $SOIL is the key to unlocking unique in-game opportunities. Here’s how it can be used:
Upgrade your NFTs: Use $SOIL to boost the effectiveness of your NFTs, helping you become a more powerful player and giving you a strategic edge in the weekly competitions.
Access premium experiences: Whether it’s unlocking exclusive events or obtaining rare items, $SOIL will be your pass to premium content within Common Ground World.
Get Involved — Even Without NFTs!
Don’t have any reward-eligible NFTs yet? No worries! You can still participate by joining a Guild. Through the Guild Library feature, Guild leaders can lend eligible NFTs to their members, allowing you to participate in the Daily Challenges and even collect rewards!
Connect with other players through the Common Ground World Discord channel to find a Guild and get started.
If you’re looking to pick up your own reward-eligible NFTs, stay tuned—more will be available in the Gala Games Store soon!
A Look Ahead: The $SOIL Token Launch
While the $SOIL token is set to become the primary reward for Daily Challenges, the rollout will be carefully monitored. Initially, players will receive DIRT instead of $SOIL to ensure that the system runs smoothly without exploitation. Once stability is ensured, the transition to $SOIL will occur, so keep an eye out for that exciting change!
Get Ready for Daily Challenges!
We hope you’re all excited to dive into Common Ground World’s Daily Challenges, with something new to pursue each and every day! Whether you’re competing for the largest share of $SOIL or working with your Guild to achieve farming greatness, this update promises endless fun and rewarding gameplay.
The latest feature in Treasure Tapper might have some of you sweating, but if you’ve been paying attention to the game lately, you had an idea that it was coming.
Your in-game coin balance might not be safe anymore 😨 Get ready for STEALING!
With this newest game feature, your coins are up-for-grabs to aspiring Treasure Tapper thieves, at least the ones you don’t store safely in your VAULT.
When players activate the STEAL command, they’ll have an opportunity to steal some vulnerable coinage from up to 4 random players.
How It Works
Use a Steal Token to begin the Stealing process, and you’ll be presented with 4 potential unsuspecting players who are holding various amounts of unvaulted coinage. Based on their level and the amount of vulnerable coins they hold, you’ll see different success rates for each of these potential targets. Basically, the higher the risk, the greater the reward.
For example, if potential victim A has a huge pile of unprotected coins, you might be given a 40% chance to steal 10,000 coins from them.
On the other hand, stealing from potential victim B might give you an 80% success rate to steal 1000 coins – Not as many coins but a higher chance of success.
Steal Tokens
Use your Steal Tokens wisely – they don’t grow on trees! They’ll recharge regularly but you’ll never have as many as you want, so make the most of them.
Steal Fee
Stealing ain’t free! When you successfully make a steal, a fee will be automatically deducted from your loot and burned from the total coin supply! You don’t need to concern yourself with the economic details at this point… You got away with it!
Protect Against Revenge
What is it they say about people in glass houses? Oh yeah! They shouldn’t steal coins!
Basically, be sure that your coins are safe in your vault before going on a stealing spree, because each of your targets will have an opportunity to come back at your for REVENGE!
In fact, if they initiate the Revenge attack within the limited-time window, they’ll have an even better success chance than you did when you came after their coins in the first place!
Level Up Your Vault
Stealing is here to add a new dimension of cutthroat strategy to your Treasure Tapper experience, so get ready. Don’t forget to spend your coins wisely on upgrades, especially to your Vault, where you can protect coins from thieves.
We hope you love this new feature and have a great time stealing from your fellow tappers!
Remember, it’s all about the $TREZ, coming soon in its first Seasonal distro. More details about $TREZ are available in the Litepaper.
Yield farming is a popular concept in decentralized finance (DeFi) that allows users to get rewards by lending or staking cryptocurrency on a blockchain-based platform. The idea is straightforward: you deposit your digital assets into a decentralized application (DApp) or liquidity pool, and in return, the platform rewards you with additional tokens. It’s similar to the way interest can be earned on the money held in a savings account.
Yield farming helps decentralized platforms by providing liquidity, which is essential for these platforms to function smoothly. The less liquid a digital asset is, the more difficult it becomes to buy or sell that asset, resulting in the potential for extreme price volatility. In exchange for contributing to an asset’s liquidity, users receive rewards, which vary depending on the platform and the type of assets staked.
How Does Yield Farming Work?
Let’s compare yield farming to a community garden. Imagine you’re growing plants in a shared garden where everyone contributes seeds (digital assets). As the plants grow, the garden yields fruits (rewards), which are shared among all contributors based on how much they’ve contributed.
Yield farming works in a similar way: Users provide liquidity to decentralized platforms, and the platform distributes rewards proportionate to each user’s contribution.
Here’s how it typically works step by step for the user:
Provide Liquidity: You deposit your cryptocurrency into a liquidity pool on a DeFi platform. These liquidity pools are essential for decentralized exchanges (DEXs) and other financial services to operate without a traditional intermediary.
Collect Rewards: In return for providing liquidity, you earn rewards, often in the form of the platform’s native token or other assets. The more liquidity you provide, the more rewards you can earn. These rewards are typically accumulated over time from the transactional fees charged to those who trade on the platform.
Stake or Claim: Some platforms allow users to stake their reward tokens in additional liquidity pools to compound their rewards, while others simply let you claim the rewards directly.
What is a Liquidity Pool?
A liquidity pool is a collection of funds locked into a smart contract. These funds are used to facilitate trading on decentralized exchanges or to support lending and borrowing activities on DeFi platforms. By contributing to a liquidity pool, you help ensure there is enough liquidity for users to trade or borrow assets, making the entire platform more efficient.
A basic liquidity pool involves an exchange pairing between 2 different tokens. When initially providing liquidity, the provider would stake equal value parts of each token, ensuring that they have added liquidity to that pairing equal to the value they have contributed.
Why is Yield Farming Important in DeFi?
Yield farming plays a crucial role in the decentralized finance ecosystem. It ensures that there is enough liquidity for decentralized exchanges and lending platforms to function smoothly without needing centralized control. Large privately owned exchanges provide the liquidity themselves, keeping enough value to back the trade activity for all their exchange pairings.
The decentralized approach empowers users by enabling them to get rewarded while contribute to the ecosystem, without relying on traditional financial intermediaries, such as banks.
Here are some key reasons why yield farming is important:
Liquidity Provision: Without yield farmers, DeFi platforms would struggle to have enough liquidity for trades, loans and other financial operations. Yield farmers ensure there’s always enough liquidity in the system.
Reward Incentives: Yield farming provides an attractive way for users to get rewards by simply holding and staking their digital assets, often far more than traditional savings accounts.
Decentralized Control and Anonymity: By participating in yield farming, users help maintain a decentralized system, keeping control in the hands of the community rather than centralized entities.
Risks of Yield Farming
While yield farming can offer high rewards, it also comes with certain risks. Here are some of the main concerns to be aware of:
Impermanent Loss: When you provide liquidity to a pool, you might experience impermanent loss. This happens when the price of the assets you’ve deposited changes compared to when you added them. If the price moves significantly, your potential rewards could be reduced. There is no guarantee that the value of the liquidity you have provided will hold steady.
Smart Contract Vulnerabilities: Yield farming relies on smart contracts, which are pieces of code that automatically execute transactions. If there’s a bug or vulnerability in the smart contract, it could result in loss of funds.
Platform Risk: Not all DeFi platforms are created equal. Some may have weaker security measures or be more prone to hacks and exploits. It’s important to research the platform you’re using before depositing assets.
Popular Platforms for Yield Farming
There are several popular DeFi platforms where users can participate in yield farming. Here are a few:
Uniswap: One of the largest decentralized exchanges where users can provide liquidity to earn rewards.
Aave: A DeFi lending platform where users can deposit assets into liquidity pools and earn rewards through lending.
Compound: Another popular lending platform where users can earn rewards by lending out their assets.
Each of these platforms operates slightly differently, but they all provide opportunities for users to stake or lend their assets and earn rewards.
Yield Farming in Action: An Example
Let’s break down a simple example of yield farming in action:
You decide to stake some of your digital assets (for instance, Ethereum) on a platform like Uniswap.
You deposit these assets into a liquidity pool for a specific trading pair, such as ETH/USDC (Ethereum and USD Coin).
As people trade between ETH and USDC on the platform, they pay small fees, which are distributed proportionally to all the liquidity providers in the pool.
In addition to these fees, you may also earn rewards in the form of the platform’s native tokens.
Over time, the rewards accumulate, and you can choose to reinvest them or withdraw them.
Yield farming is often a valid option for long term holders of well established cryptocurrencies who would like to generate passive rewards from their holdings. However, it is always important to do extensive research before making the decision to provide liquidity or get into yield farming. Not all dApps and platforms are created equally.
This article is meant for educational purposes only and should not be considered financial advice.
Liquidity is a concept that pops up often in the world of finance, and it’s just as important in the Web3 space, especially with the rise of decentralized finance (DeFi). In simple terms, liquidity refers to how easily you can buy or sell an asset like a cryptocurrency, without drastically changing its price.
To put it in everyday language, imagine you’re at a market selling apples. If there are plenty of buyers ready to purchase your apples at the current price, then your apples are more “liquid.” You can sell them quickly, and you don’t have to drop the price to attract a buyer. However, if there are only a few buyers, you might have to lower the price or wait a while to sell your apples. In that case, your apples are less liquid.
Sellers and buyers are both necessary for any market to work effectively; the concentration of each of them influences the market in many different ways.
In Web3, liquidity applies to digital assets like cryptocurrencies and tokens. High liquidity means people can trade their tokens quickly, while low liquidity means it’s harder to find someone to trade with, and you may need to wait longer or accept a worse deal.
Why is Liquidity Important in Web3?
Liquidity plays a big role in how smoothly decentralized markets and applications function. Here’s why liquidity is crucial in the Web3 world:
Efficient Trading: High liquidity means you can easily trade your tokens without slippage (the difference between the expected price of a trade and the actual price). If liquidity is low, prices can swing drastically after each trade, creating an inconsistent and unpredictable market.
Fair Prices: In liquid markets, prices tend to be more stable and reflective of real value. With low liquidity, even small trades can cause big price movements, making it harder to predict what you’ll pay or receive for a token. This is why with tens of thousands of altcoins in existence, the vast majority of them have proven so volatile from one day to the next.
User Experience: Web3 applications like decentralized exchanges (DEXs) need liquidity to offer fast and reliable services. If liquidity is low, users may experience delays or unfavorable prices when trading tokens, which can discourage participation in that exchange. For a decentralized exchange like Uniswap to compete with a centralized (privately owned) exchange like Coinbase, liquidity is used to create equally convenient trading activities for users.
How Does Liquidity Work in Web3?
In Web3, liquidity typically comes from two main sources:
Liquidity Providers (LPs): In decentralized finance (DeFi), liquidity often comes from regular users who deposit their crypto into a liquidity pool. These users are called liquidity providers. By contributing their tokens to the pool, they help create liquidity, which allows others to trade. In return, liquidity providers earn rewards like a share of the trading fees. Typically, a liquidity provider contributes to a liquidity pool by providing an equal-value amount of both tokens involved in that exchange pairing.
Liquidity Pools: A liquidity pool is a smart contract that holds funds to facilitate trading between different cryptocurrencies on a decentralized exchange. For example, if someone wants to trade Ether (ETH) for a stablecoin like USDC, the liquidity pool allows them to do so without needing a direct buyer or seller. The more funds in the pool, the easier and quicker trades can be made.
Think of liquidity pools like communal pots of money that people can use to trade tokens with each other. The bigger the pot (more liquidity), the easier it is for everyone to trade, and with larger amounts at a time.
Examples of Liquidity in Web3
Uniswap and Liquidity Pools: One of the most popular platforms in DeFi, Uniswap, allows users to swap between different tokens by tapping into liquidity pools. Users provide liquidity by depositing pairs of tokens (like ETH and USDC) into the pool. In return, they receive a percentage of the fees generated when other users make trades.
Stablecoins as Liquid Assets: Stablecoins like USDC or DAI are often considered highly liquid because they are widely used and can be easily exchanged for other tokens. Their prices are stable, which makes them ideal for providing liquidity in many DeFi applications.
NFT Liquidity: Liquidity doesn’t just apply to cryptocurrencies—it also applies to NFTs (non-fungible tokens). Some platforms are experimenting with ways to create more liquidity for NFTs by letting users fractionalize them, meaning they split the NFT into smaller pieces that can be traded more easily.
Liquidity Mining and Yield Farming
In the Web3 world, liquidity mining or yield farming is a way that people are incentivized to provide liquidity to a decentralized platform. Essentially, liquidity providers earn rewards, usually in the form of extra tokens, for depositing their assets into a liquidity pool.
For example, if you deposit your crypto into a liquidity pool on Uniswap, you may receive Uniswap’s governance token ($UNI) as a reward. This is a reward incentive, a way to encourage more liquidity, keeping decentralized exchanges running smoothly.
Why Liquidity Matters for Web3 Projects
For Web3 projects to thrive, they need liquidity. Without it, users would struggle to trade tokens or interact with decentralized applications (dApps). Here are a few key reasons why liquidity is critical:
Smooth Functioning of DEXs (Decentralized Exchanges): DEXs rely heavily on liquidity pools. Without enough liquidity, users can’t easily swap tokens, which disrupts the whole system.
Trust and Adoption: High liquidity signals trust in a project. If a project has deep liquidity, more users are likely to join, trade, and use the platform. On the other hand, low liquidity can deter users because they may worry about the stability and usability of the platform.
Price Stability: More liquidity means token prices are more stable and less likely to be affected by large trades. This creates a healthier market and attracts both casual and serious investors.
Common Liquidity Terms in Web3
Liquidity Provider (LP): A user who contributes tokens to a liquidity pool to facilitate trading on a decentralized exchange.
Liquidity Pool: A smart contract that holds tokens to enable decentralized trading between two or more cryptocurrencies.
Slippage: The difference between the expected price of a trade and the actual price. High slippage happens in low-liquidity environments.
Liquidity Mining/Yield Farming: The process of earning rewards for providing liquidity to a platform or decentralized exchange.
Impermanent Loss: A potential risk for liquidity providers. This occurs when the price of the deposited tokens changes compared to when they were deposited, leading to lower value when they’re withdrawn.
The Lifeblood of Web3
Liquidity is crucial to making decentralized platforms work efficiently. Whether it’s enabling quick and cheap token swaps, stabilizing prices or collecting rewards through liquidity mining, liquidity plays a huge role in Web3 ecosystems.
For those new to the Web3 world, understanding liquidity can help you make better decisions when participating in DeFi platforms, trading tokens or even providing liquidity yourself for passive rewards.
