Besides the surging AUCTION, what other "golden shovels" are worth watching in the market?
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Besides the surging AUCTION, what other "golden shovels" are worth watching in the market?
Compared to spot trading, token listing investments have shorter cycles and offer even more impressive returns, making platform tokens once hailed as the "golden shovel" for acquiring new assets.
Navigating Web3 tides with focused insightsAuthor: Kaori, BlockBeats
The prosperity of a bull market largely depends on two main factors: inflows of external capital and enhanced internal capital leverage. Influential financial entities like BlackRock play a pivotal role in driving external capital, especially as the anticipation of spot Bitcoin ETFs could reshape the rules of the crypto market.
In 2020, fueled by innovations from DeFi Summer, multiple CEXs successively launched the "new token mining" feature—a novel mechanism combining IEO with DeFi-style liquidity mining. When listing new projects, users no longer had to scramble to buy tokens; instead, they could obtain new assets by staking designated platform assets. Compared to spot trading, this new listing cycle was shorter and offered far more impressive returns, leading platform tokens to be hailed as the "golden shovels" for acquiring new assets.
Subsequently, Ethereum saw a surge in innovative DeFi applications such as LSD and restaking, but the Bitcoin ecosystem has yet to witness large-scale equivalents. Currently, inscriptions have successfully transitioned from primary to secondary markets, with the next step being how to leverage their market热度 to continuously empower Bitcoin's financial infrastructure.
BlockBeats has compiled a list of current market "golden shovels," which are now injecting capital leverage vitality into the crypto industry, particularly within the Bitcoin ecosystem.
Bitcoin Ecosystem "Golden Shovels"
Bounce Brand (AUCTION)
Bounce Brand (formerly Bounce Finance) is a decentralized auction protocol integrating liquidity mining, decentralized governance, and staking mechanisms, enabling users to create and participate in various types of auctions across multiple blockchain networks.
On November 12, Bounce Brand completed the Launchpad for bridge protocol MultiBit (MUBI), raising 88 ETH at an IDO price of $0.00047 per token, achieving over an 80x return during that period. On November 29, Bounce Brand launched the public sale for Bitstable’s project token BSSB, a cross-chain DeFi protocol based on Bitcoin. On December 4, BSSB surged past $1.60, recording a 24-hour increase of 89.58%, reaching an all-time high.
These two successful token auctions made the crypto community realize that Bounce Brand is serious. On December 1, Bounce Brand launched BounceBit, a DeFi solution designed specifically for the Bitcoin ecosystem, powered by Binance Bitcoin (BTCB) and AUCTION. BTCB is a BEP2/BEP20 asset pegged 1:1 to Bitcoin and secured on the Bitcoin blockchain, allowing Bitcoin holders to engage in DeFi while maintaining exposure to their Bitcoin holdings.
On December 15, Bounce Brand initiated a new Launchpad project—Bdid (BDID), a DID service platform on BTC L2. There were three participation modes: purchasing lottery tickets using AUCTION, staking AUCTION for proportional allocation, or staking the stablecoin DAII for proportional allocation. After the auction concluded, BDID listed on Uniswap, surpassing $12 million in DEX trading volume.
Today, Bounce Brand announced its Launchpad will adopt a "two birds with one stone" strategy for a dual-team joint token launch. The project identities remain confidential, with participation via AUCTION and BitStable’s stablecoin DAII, featuring two separate auction pools. Following this news, AUCTION’s price surged sharply, rising 47.5% within 24 hours, reaching $37.82 at press time.
TurtSat (TURT)
TurtSat plays a role similar to Bounce Brand—an emerging asset issuance platform and community-driven open platform for Ordinals, aiming to become the Gitcoin of the Ordinals world. Anyone can build, donate to, and benefit from Ordinals ecosystem protocols through TurtSat. Its native token is TURT.
Since launch, TurtSat has deployed multiple projects (including BRC-20 asset protocol CHAX, BRC-20 cross-chain bridge MUBI, Ordinals aggregation platform NHUB, Ordinals lending platform DOVA, and Bitcoin ecosystem gaming platform RAIT). These early BRC-20 infrastructure platforms have performed well post-launch.
In early December, TurtSat announced the launch of its staking system, TURT POOL. According to TurtSat, this introduces a new way for users to participate in project launches, balancing fairness and efficiency while effectively preventing bots from using scripts to snatch large donation shares, ensuring fair benefits for TURT holders.
After users stake TURT, TURT POOL records the amount and duration (block confirmation/network confirmation time) of staked tokens in real-time, calculating and releasing EGGS accordingly. EGGS is a new asset issued by TurtSat, usable for purposes including voting on project launches and direct redemption of partner token bundles. In the future, EGGS may become a key pathway to securing whitelist allocations for new projects.
BitStable (BSSB)
BitStable (BSSB) is a decentralized asset protocol built on the Bitcoin network, allowing anyone to generate DAII, a stablecoin backed by Bitcoin ecosystem collateral. BitStable features a dual-token system and cross-chain compatibility, with tokens DAII and BSSB.
DAII is the USD-pegged stablecoin issued by BitStable, with a total supply of 1 billion. Users can obtain DAII on the BitStable website by staking ORDI or MUBI. The team has also issued some DAII on Ethereum, available for direct purchase.
Following BitStable’s successful Launchpad on Bounce, DAII has been increasingly involved in other Bounce-related projects. As previously mentioned, staking DAII was one option to participate in the Bdid (BDID) Launchpad on Bounce, and the latest Bounce Launchpad also allows participation through DAII staking.
BSSB is the platform’s governance token, used by the community to maintain the system and manage DAII. BitStable incentivizes BSSB holders through dividends and other measures. The total supply of BSSB is 21 million, with 50% sold publicly via Bounce Finance, 5% allocated to the team (6-month lockup and 15-month linear unlock), 3.5% for airdrops, 36.5% for staking rewards, and 5% for LP (indefinitely locked).
MultiBit (MUBI)
MultiBit is a bridging protocol launched in May that connects BRC20 assets to EVM networks, enabling seamless token transfers between the ETH chain, BNB chain, and BTC network.
MultiBit simplifies the transfer process between Bitcoin’s BRC20 and EVM networks. First, users send their BRC20 tokens to a dedicated BRC20 address. Upon confirmation, the Multibit Protocol mints an equivalent amount of tokens on Ethereum or the BNB chain. The protocol collects tokens distributed across unique addresses and securely transfers them into a unified cold wallet. When users wish to withdraw, Multibit burns the corresponding amount on the EVM chain and sends the equivalent value from the secure cold wallet to the user.
MultiBit completed its IDO auction on Bounce Brand on November 12, raising 88 ETH. On November 4, it conducted another IDO on TurtSat at the same unit price, raising 4.64 BTC. Combined, these raised approximately $350,000.
Its native token MUBI recorded a 24-hour gain of 43.7%, priced at $0.323 at press time. Besides governance rights, users who stake MUBI can earn rewards in the form of ERC20 or BRC20 tokens on the MultiBit platform.
Solana Saga Phone
Beyond the conventional "golden shovels" mentioned above, there's an unexpected contender—the Web3 phone Saga, released by Solana Labs.
Initially launched on May 8, 2022, at $1,000, the Saga phone is positioned as Solana’s flagship Android device. It features 512 GB storage, dual rear cameras, a 6.67-inch OLED display, and fingerprint unlocking. More importantly, it includes a dApp Store dedicated to crypto applications and a secure element for storing private keys, isolating sensitive data from the rest of the phone. On August 10, the Saga phone reduced its price from $1,000 to $599.
Recently, the Solana-based meme token Bonk surged dramatically, and each Solana Saga phone qualifies for up to 30 million BONK tokens in airdrops. Consequently, its resale price on eBay has skyrocketed by 500%, reaching as high as $3,000.
On December 17, Kyle Samani, co-founder of Multicoin Capital, stated on social media that Saga phone owners are expected to receive numerous airdrops over the next 12 months. Yesterday, the Solana-based meme project Samoyedcoin announced it will distribute SAMO tokens to Saga phone holders, although specific details have not yet been disclosed.
"Golden Shovels" in Other Ecosystems
Besides the booming Bitcoin ecosystem, similar "golden shovels" in other public chain ecosystems have recently attracted considerable attention.
TonUP (UP)
TonUP is an asset issuance platform built on the TON blockchain, primarily focused on discovering and nurturing promising projects within the TON ecosystem. It provides community users with IDO investment opportunities in high-quality TON projects and supports ecosystem development. Additionally, TonUP offers services such as marketing, DEX listings, and staking for IDO projects, enhancing visibility, accessibility, reputation, and market热度.
Launched in August 2023, TonUP completed its first IDO project token issuance by the end of that month, helping the MMORPG game project Tap Fantasy raise 80,000 TON Coins.
As part of the TON ecosystem, TonUP received a six-figure investment from TONcoin.Fund. On December 13, TonUP announced its UP token IDO would take place on December 20, pricing 1 UP token at 0.05 TON. On December 14, TonUP revealed its tokenomics, with a total supply of 100 million UP tokens.
SuiPad (SUIP)
SuiPad is the first IDO, ISO, and INO Launchpad project built on the Sui blockchain. As the first officially recognized IDO Launchpad on Sui, SuiPad serves as a bridge connecting new ecosystem projects with early investors. Its goal is to curate the best new projects on the Sui blockchain through a unique selection process and industry standards, while also supporting fundraising for early-stage projects.
Like most Launchpads, the primary utility of SuiPad’s native token SUIP lies in assessing user loyalty. A user’s loyalty tier is determined by a weighted calculation based on the quantity and duration of SUIP staked, thereby granting access privileges according to membership level.
To qualify for a specific tier, users must stake a required amount of SUIP tokens for a specified period on SuiPad. The more SUIP a user stakes, the higher their tier, increasing their chances of receiving allocations in platform project IDOs. Notably, staked tokens have a 15-day cooldown period after unstaking.
Higher-tier members have greater opportunities to secure investment slots in scarce projects. Membership tiers are directly correlated with both the number of SUIP tokens held and the length of staking—larger holdings and longer durations result in higher tiers and better odds of winning allocations in platform IDOs.
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