A quick look at the potential of Self Chain: layout may be just in time! Low-price opportunities may not be missed

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远山洞见2024/09/05 06:31

By:远山洞见

I. Project introduction

Self Chain is the first Layer1 blockchain platform based on Modularization Intent Center, which combines MPC-TSS and Account Abstraction (AA) technology to achieve a multi-chain Web3 keyless wallet infrastructure service. By using a large language model (LLM) to interpret user intent, Self Chain can discover and recommend the optimal path to simplify User Experience and ensure asset security. Users can achieve complete self-custody of assets through keyless wallets, and the platform automatically rewards DApps for their contributions when user intent is successfully resolved, further enhancing user interaction experience.

A quick look at the potential of Self Chain: layout may be just in time! Low-price opportunities may not be missed image 0

In addition, Self Chain adopts Tendermint consensus mechanism, supported by Cosmos SDK, and adopts Proof of Stake (PoS) consensus mechanism to ensure cyber security and stability. Validators bear crucial responsibilities in the network, not only participating in consensus, but also playing a role in transaction verification and block proposal.

II. Project highlights

1. Intent interpretation and optimization path

Self Chain uses a large language model (LLM) to interpret users' transaction intentions, automatically breaking down complex user requests into necessary transaction steps, and finding the most effective execution path through specialized solvers. This intention-driven architecture not only simplifies the user's interaction process and reduces the complexity of user operations, but also significantly improves the efficiency and success rate of multi-chain transactions. Whether it is cross-chain transfer, DeFi operation, or NFT transaction, users only need to input requirements, and the system can intelligently complete the operation, reducing learning costs and error rates.

2. Keyless wallet and account abstraction technology

Self Chain uses MPC-TSS (Multi-Party Computation Threshold Signature) and Account Abstraction (AA) technology to completely eliminate the risk of private key management in traditional blockchains. Users no longer need to remember or manage private keys, and can achieve complete self-custody asset management through keyless wallets, significantly improving security and User Experience. At the same time, account abstraction makes the signing process of each transaction more efficient and secure, and effectively reduces transaction costs. This technical solution eliminates the security risks caused by key leakage and loss, making blockchain easier for ordinary users to use.

3. Cross-chain Interoperability and Modularization Architecture

Self Chain's Modularization architecture supports seamless cross-chain interoperability, allowing users and developers to interact seamlessly on different chains. The platform allows different DApps and assets to be freely transferred and operated between multiple chains, such as cross-chain flow of assets and data in multiple fields such as DeFi, NFT, and gaming. In addition, Self Chain's intent search and parser can automatically find the optimal cross-chain bridge and aggregator, greatly improving the efficiency and security of cross-chain operations, and solving the current problems of cumbersome and expensive cross-chain operations.

4. Efficient Proof of Stake (PoS) and Incentive Mechanism

Self Chain is built on the Tendermint consensus protocol and Cosmos SDK, using the Proof of Stake (PoS) mechanism to ensure the security and performance of the network. Validators participate in block proposals and transaction verification by running full nodes, and receive incentives through the staking mechanism. Users can also participate in consensus by entrusting $SLF tokens to validators, sharing transaction fees and inflation rewards. In order to ensure the long-term stability of the network, Self Chain has designed a strict punishment mechanism. If validators exhibit behaviors such as double signing or going offline, they will be subject to reduced penalties to ensure the security and reliability of the network.

III. Market value expectations

Self Chain is a Layer1 blockchain platform based on Modularization Intent Center, which provides a secure and efficient multi-chain Web3 access experience through keyless wallet infrastructure and account abstraction (AA) technology. The initial published total of its native tokens is 360 million, with a total market value of 46.14 million USD and a token unit price of 0.48 USD.

We can speculate on the market value potential of Self Chain by benchmarking other L1 public chain platforms with similar functions and Market Positioning.

ZetaChain (ZETA) : ZetaChain is a project that is also an L1 layer, with a current token price of $0.439 and a circulating market value of about $176 million.

Harmony (ONE) : Harmony is an open-source blockchain focused on decentralized applications (DApps), with a current token price of $0.0109 and a circulating market cap of about $154 million.

Based on the market value and token price of the benchmark platform mentioned above, we can speculate on the market value potential of Self Chain as follows:

Benchmarking ZetaChain : If the circulating market value of Self Chain reaches the level of ZetaChain, the token price of Self Chain may rise to $1.83 .

Benchmarking Harmony : If the circulating market value of Self Chain reaches the level of Harmony, the token price of Self Chain may rise to $1.6 .

It should be noted that the market performance of Self Chain will be influenced by many factors, including the growth of platform users, technological breakthroughs of projects, market competition, and the volatility of the overall encryption market. Therefore, while considering potential returns, investors should carefully evaluate related risks.

IV. Economic model

1. Four uses of SLF token

Self Chain's native token $SLF has four main uses throughout the network.

Junk email protection : $SLF is used as a gas fee for network operations to prevent spam transactions and Distributed Denial-of-service. Transaction fees are proportional to the computing resources required for transactions, ensuring efficient use of resources.

Staking mechanism : $SLF can be "staked" to obtain block rewards. The more $SLF staked, the higher the economic security of the network, because more tokens are used as collateral, and the cost of attacking the network also increases.

Governance function : $SLF holders can participate in the governance of Self Chain by staking tokens, voting to decide network upgrades and key decisions.

Cyber security guarantee : The number of tokens staked directly affects the security of the Self Chain network. The more tokens staked, the more validators and delegates can ensure the stable operation of the network.

2. Token distribution and initial supply

The initial supply of Self Chain at mainnet startup is 360 million $SLF, distributed as follows:

Migration Allocation (25%) : Used to support the smooth migration of certain existing token holders to $SLF.

Equity stake investors (10%) : Token distribution from early investors as a reward for project growth.

Validator nodes/growth sales (28%) : Used to expand the validator network and increase the decentralization of the network.

Ecosystems (19%) : Promote valuable ecological construction within the project through funding and incentives.

Foundation nodes (10%) : nodes run by the foundation to ensure the stability of the network in the early days of creation.

Team (8%) : Allocated to the core team and developers to support long-term R & D and ecological development.

3. Release plan and locking mechanism

The initial supply of 360 million $SLF from Self Chain will be gradually unlocked according to multiple release plans.

Migration distribution : no lock, release 90M $SLF immediately when TGE.

Ecosystem : 20% will be released when the mainnet goes live, and the remaining tokens will be gradually unlocked over 36 months.

Equity stake investor and team tokens : 12-month and 6-month cliff periods respectively, then unlocked on a monthly basis over 24 or 60 months.

Foundation nodes : permanently locked, tokens locked forever.

4. Incentive Mechanisms for cyber security

Self Chain uses the Proof of Stake (PoS) mechanism to ensure cyber security. Validators and delegates participate in consensus and receive rewards by staking $SLF. Validators are responsible for proposing and verifying transactions, and each validator will receive partial benefits from transaction fees and inflation rewards. The key to cyber security lies in the Incentive Mechanism: the more $SLF staked, the more opportunities validators have to obtain proposals, and thus receive more rewards. In addition, Self Chain's punishment mechanism (such as double signing and shutdown) ensures that validators remain honest and actively participate in network consensus.

V. Team and financing

Team members

The founder and CEO of Self Chain is Ravindra Kumar , who is also the founder of Frontier. Prior to this, Ravindra served as the Chief Technology Officer of Woodstock and InstaDApp, with rich technical background in blockchain and decentralized finance (DeFi) fields. Ravindra has deep experience in blockchain technology research and development, product design, and project management, and is committed to creating a more secure and user-friendly Web3 environment.

Investors

Self Chain is supported by well-known investment institution Rana Capital . Rana Capital has a wide portfolio of investments in blockchain and fintech, focusing on supporting innovative decentralized projects, and is committed to promoting the further application and development of blockchain technology.

VI. Risk Warning

1. The crypto market itself is highly volatile, and the price of tokens may be influenced by market sentiment, overall economic conditions, and competitor activities, leading to price fluctuations.

2. Although Self Chain has adopted innovative MPC-TSS and account abstraction technologies to simplify User Experience and improve security, there may be unforeseen technical issues or vulnerabilities in the implementation and maintenance of new technologies.

VII. Official link

Website： https://selfchain.xyz/

Twitter： https://x.com/selfchainxyz

Telegram： https://t.me/selfchainxyz

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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