Create worldwide crypto consensus through an all-encompassing ecosystem for crypto trading

CoinEx has been noted for its ease of use and excellent trading experiences since the very beginning. While most crypto exchanges are content with the status quo, CoinEx always strives to improve its products and services and build a diverse range of applications. On the one hand, the exchange has built a solid foundation that powers a stable and secure trading environment; on the other hand, it keeps up with the industry trends and offers different incentives based on the latest crypto developments.

To better engage with users in terms of trading, CoinEx focused on trending segments like NFT and GameFi and introduced five trade-driven mining programs, offering stable mining rewards. As the exchange’s signature event, the trade-driven mining programs have attracted a large number of existing users and newcomers, who have been actively involved in these programs.

The 5th Perpetual Carnival Trade-driven Mining, which ended recently, recorded exciting results in terms of both user participation and trading volume. Thanks to the “profit-making effect” of the previous four perpetual carnivals, many CoinEx users have been intrigued by the incredible rewards. As a result, the 5th Perpetual Carnival has become more popular than ever. Other than CoinEx, many top crypto exchanges have also dabbled with trade-driven mining. That said, why are CoinEx’s trade-driven mining programs more popular than similar programs?

The innovation of value: How CoinEx’s trade-driven mining programs stood out among CEXs

For many crypto users, the term “trade-driven mining” reminds them of FCoin, which suddenly went viral in 2018. Relying on the incentive mechanism of “trade-driven mining”, FCoin registered a trading volume that ranked top 3 among all cryptos in just half a month after its launch, a record that eclipsed all other leading exchanges.

Although the FCoin eventually failed due to many reasons, the trade-driven mining it promoted linked the interests of traders, project teams, and investors for the first time, which marks a major innovation for token incentives. Compared to FCoin’s trade-driven mining, which lacked stability, CoinEx upgraded and revolutionized this approach from multiple dimensions, covering the mechanism as well as the incentive. Focusing on value incentives, the exchange has built a sound, sustainable system of trade-driven mining.

In terms of the program mechanism, CoinEx distributed the daily rewards according to the effective trading volume of users, which ensured that all rewards are given to authentic users with real demands. During the current Perpetual Carnival, users with valid KYC could get mining rewards (distributed daily) once they sign up for the program and trade in any perpetual market on CoinEx.

As for the incentive mechanism, CoinEx will set up a reward pool of 50,000 USDT for this round of Perpetual Carnival, during which a daily reward of 5,000 USDT will be distributed for 10 days. Through cyclical operations, CoinEx will ensure that the dividends from trade-driven mining are more stable over the long run, allowing users to receive lasting mining revenue. The stable mechanism and the lasting dividends are the primary reason behind the market excitement for CoinEx’s trade-driven mining programs.



CoinEx creates a crypto blue ocean via the Perpetual Carnival

CoinEx creates a win-win-win situation: While offering considerable profits for users, the series of trade-driven mining events on the exchange also brings authentic, valid user traffic to project teams.

At the same time, the active participation from a growing number of users has brought greater trade depth and improved liquidity to CoinEx’s trading environment, which, in turn, attracts more users to trade on the exchange and shapes a virtuous cycle at last. This also means that CoinEx has created a crypto blue ocean and unlocked the full potential of trade-driven mining.

In 2020, Uniswap impressed the entire crypto community with its incredible airdrops — On average, every participant received airdrops worth an iPhone. To this day, the Uniswap airdrop remains the “ace of airdrops”, and crypto users can still recall this feat. This year, the title goes to ENS, which sparked the enthusiasm of the whole crypto space. Some claim that there is a user who got $2.78 million in this airdrop spree, which could be a new crypto record.

Since ENS announced the airdrop on November 2, 2021, it has burned gas fees of 2,535 ETH within seven days in terms of application interaction alone. As users flocked to claim their airdrops on November 9, the Ethereum blockchain became congested for a short period, and the gas fee of all Ethereum transactions stayed at around 0.04 ETH for a few days, which shows how popular ENS has been. So, what is the story behind ENS and its airdrop craze?

ENS (Ethereum Name Service) is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS’s job is to map human-readable names like “alice.eth” to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata. ENS also supports “reverse resolution”, making it possible to associate metadata such as canonical names or interface descriptions with Ethereum addresses. Simply put, ENS creates an Ethereum domain name ending in “.eth” by converting an Ethereum address into readable, memorable characters, and turns a human-readable domain name back into a machine-readable format through “reverse resolution”. This replaces the lengthy hash value and improves the ease of use of Dapps.

It is well known that web domains generally end with “.com”, “.org”, “.me”, etc., and netizens have grown used to such websites. In fact, computers can only read IP addresses composed of decimal numbers, but because such number combinations are difficult to remember and not convenient to use, domains were born in response, converting IP addresses into a human-readable format.

In reality, the most famous domain name server is DNS (Domain Name System). As the domain service of the Internet, DNS is a conversion server between domain names and their corresponding IP addresses. For example, when we enter URLs like “xx.com” and “xx.org” in the address bar to visit a webpage, DNS will automatically translate the domain name we entered into the corresponding IP address, thereby sending us to the target page.

ENS has similar goals to DNS. The only difference is that the latter converts domain names into IP addresses, whereas the former turns “.eth” domains into Ethereum addresses. Like DNS, ENS operates on a system of dot-separated hierarchical names called domains, with the owner of a domain having full control over subdomains. In addition, ENS also allows users to import DNS names they already own for later use.

Founded in May 2017 by Nick Johnson, ENS is an ecosystem project incubated by the Ethereum Foundation. It is currently managed and developed by a non-profit organization called True Names LTD. According to its official website, the current ENS ecosystem includes wallets like MetaMask, applications such as OpenSea, and explorers. As of November 22, there have been 460,000 registered ENS domain names with over 180,000 users.



With a total supply of 100 million, 25% of the governance tokens of ENS were airdropped to addresses that have registered ENS domain names, and another 25% was distributed to community members who have contributed to ENS in the past five years, including administrators at the Discord community. The remaining 50% was reserved for its DAO. It is noteworthy that the ENS airdrops covered all addresses that have registered ENS domain names before November 1, 2021.

It is noteworthy that the ENS airdrop adopted a fair accounting system — The independent address was relied on as the accounting basis. This means that users could not receive more airdrops even if they had multiple ENS domain names. Although such a distribution method is not in the interest of big holders, it is more friendly to the average ENS user. In many airdrop programs, there are always droves of speculators who intentionally create new addresses and drive up their interaction records just to get airdrops. ENS’s approach minimized this problem.

With investments from institutions like Chainlink, Protocol Labs, and Binance, apart from the Ethereum Foundation, ENS has been listed on trading platforms such as Uniswap and CoinEx. Although many crypto users missed the ENS airdrop feat, they are still intrigued by ENS. How well will the final massive airdrop of 2021 perform in the future? Let’s wait and see.

For the past few days, Facebook’s name change has grabbed the crypto media headlines, which marked the company’s ambition to drive into the metaverse field. From the well-received film “Ready Player One” to today’s emerging market crowded by tech giants, the popularity of the metaverse continues unabated throughout the year. It has given birth to more and more new projects, and Starl is one of them.

In August 2021, Starl sold 18 virtual satellites in a bidding auction for about $1.75 million, attracting tremendous attention among cryptocurrency investors. However, once regarded as a shitcoin, how come Starlink made a comeback and peaked as a record hit? To explain that, let’s have a look at its relation with Shib.



Starl was created by Woof Decentra, Moe Larson, and a diversified team consisted of 3D artists and technicians. Of the two project leaders, Woof Decentra has been a member of the Shib team and the founder of Leash, and Moe Larson is an investor and developer of several cryptocurrency projects.

Backed by the #DevelopmentTeam , Starl had become an instant hit, with many metaverse investors calling it “the next Shib.” Even Vitalik Buterin had claimed that in the next 5–10 years, a real “metaverse” would take shape on Ethereum, and by then, Starl would play an essential role in industry development, leading the metaverse market to true glory.

Starl is a metaverse and NFT project that is 100% owned by the community and features decentralized virtual space. It stimulates an international space base located in the Galaxy, where planets and satellites can be bought and traded freely, just like property sales on Earth. Users create their planetoids in the universe, conduct NFT auctions, trade virtual satellites and spacecraft, purchase lands, and trade commodities for space use in the Starl ecosystem. In the virtual world created by Starl, users can interact in various ways and explore the universe through social interaction.



In addition, Starl has also incorporated space travel, space base connections, asteroids mining, and space combats to build a complex and fun virtual game economy. It is committed to providing users with opportunities for personal development and revenue growth in the context of the COVID-19 pandemic and to creating a novel financial model with limitless possibilities.

Its coin, STARL, is a medium for in-game trading and governance voting. STARL allows users to exchange and modify assets in the game or gain access to games, participate in virtual concerts and clubs, enter travel mode in the metaverse, invest in virtual real estate, collect in-game materials, and pay other players for social experiences. In addition to games, STARL also supports applications such as media, entertainment, and education.



It’s worth noting that most non-fungible tokens were sold out soon after being listed on Starl’s official website, which is a sign of the project’s popularity. Also, Starl has joined the Play-to-Earn gaming guild to work together with the E-sports team and entertainment organization Mazer Gaming. According to its official website, the project is expected to launch Starlink DAO in December 2021 and MetaVerse 3D in 2022.

Only 50 days after its cold start, Starl was listed on gate.io without a listing fee or investment to the exchange, with the momentum to be a leading metaverse game. For now, it is available on many other exchanges, including CoinEx. As a project that interests even Vitalik, all eyes are on Starl to see whether it can continue Shib’s legend.

Currency does not emerge naturally but in response to the need for the exchange of goods. Bitcoin is no exception. It entitles everyone to keep accounts in its fair system, which is completely open and transparent.

Many countries including Germany, France, and Switzerland have officially recognized Bitcoin. Companies such as Paypal and Domino's Pizza have supported payments via Bitcoin. On June 9, 2021, El Salvador recognized Bitcoin as the country's legal tender.

The common elements of all crypto projects
Thanks to the DeFi boom since 2020, the entire crypto market has prospered. Attracted by the charm of decentralized finance, crypto users have been extensively involved in DeFi for huge profits. From the explosion of DeFi projects like lending & borrowing, DEX, and staking on the Ethereum chain through BSC to the rise of public chains like Solana, Avalanche, and Fantom, the DeFi ecosystem has grown more diverse. At the same time, the market has developed an evaluation standard for DeFi projects, covering metrics such as TVL, on-chain data monitoring, product profile, competition analysis, the model of the token economy, APY/APR, mining, airdrops, etc.

As DeFi players compete for shares in an established market, the crypto market and the DeFi sector have gradually stabilized and entered a period of adjustment. Meanwhile, the crypto market was once again ignited due to the boom of Axie Infinity in the third quarter of 2021.



According to the above chart, the exponential growth of Axie Infinity’s “Play to Earn” community and user base in May sent its protocol revenue and market cap soaring. For game projects, the sustainable improvement of user statistics and growing protocol revenues are one of the major metrics for assessing their quality.

Along with the rise of the P2E (Play to Earn) concept and the flourishing of “game farming” guilds, GameFi projects have emerged in the ecosystem of all the major public chains. It is thus crucial to identify superior game projects and assess their quality. From emergence through development to surge, we can always see similarities between GameFi and DeFi. Moreover, the two also share many similar evaluation criteria. In the following paragraphs, we will focus on the key metrics and fundamentals of GameFi projects and project the trend of the next-generation GameFi games.
Evaluation metrics of GameFi projects

The crypto market now abounds with blockchain games with mixed quality. Under such a circumstance, it is particularly important to distinguish a suitable game project from its peers and evaluate the quality and market cap potential of a game project.
By referring to the successful operation of outstanding projects like Axie, it is clear that the flourishing of a game project, especially a P2E project, is always underpinned by the key metrics as below:

1. On-chain/off-chain metrics:
1) UAW (Unique Active Wallets): The term refers to the number of unique addresses that interact with a given smart contract; therefore, UAW does not translate to (daily) active users (DAU). A single individual might utilize different wallets to interact with a single DApp.

2) DAU(Daily Active Users): For any blockchain game, the active login represents the most important data besides the total protocol revenue. A game would not grow soundly without a healthy login curve.

3) New users: The term means the new accounts created on a daily basis. A massive increase in daily new users is mostly achieved through market promotions and reward events. For instance, relying on Rank competition, a weekly marketing event featuring thousands of dollars, Town Star has kept drawing new users in the short-mid term.

4) Retention: Generally speaking, there are active retention and beginner retention. Retention is the most critical metric for evaluating games, covering next-day retention, 7-day retention, 14-day retention, and 30-day retention. Short-term retention (within 7 days) could be achieved through well-timed events. However, when it comes to long-term retention, the only thing that matters is the quality of the game and project. In February, Axie’s 30-day retention reached a staggering 60% — 33,000 of the 21,000 daily active users held Axies that month.



5) Average online time: This metric depends on the type of a game. In a nutshell, you cannot compare the average online time of Angry Birds to that of World of Warcraft, which is meaningless. The primary function of this metric is to evaluate: 1) Whether the game runs in a sound condition: For example, for an MMORPG with an online time of less than 3,000s, the game is basically doomed if it introduces no special gameplay. 2) Peer competition.

6) ACU(Average Concurrent Users): It provides a more accurate way to assess the real conditions of a game than login, which may fluctuate due to sub-accounts, large increases, etc. ACU, on the other hand, avoids these problems. It should be noted that this metric does not apply to P2E projects or guild projects.

7) Cost per player: Based on the current prices, the cost per player of blockchain games normally falls within the range of 200 USDT — 500 USDT. In terms of the time cost, it is best if a player can achieve payback within two to three months, which is ideal for P2E projects and gold farming guilds considering their costs of the operating cycles. Inappropriate game costs (too high or too low) and payback periods (too long or too short) will both harm the development of projects/guilds and user popularity.

The floor price of paid NFTs/items and trade frequency: Paid items are the entrance threshold of players and one of the major sources of project revenue. Excessively expensive items will drive away users, while the payback period will be shortened if the item price is too low, which harms the long-term retention and project revenue. Additionally, we should also check whether the trade frequency can support the trading among players based on the in-game liquidity.

9) Total protocol revenue: Most blockchain game project would release their total protocol revenue. However, when it comes to Layer 2 projects, we will need to authenticate the statistics because the data is not recorded on the blockchain and it costs negligible fees to fake good statistics.

2. Game fundamentals
1) Game categories: Different types of games come with different gaming experiences and operating methods, which means that the above metrics may also vary. Furthermore, the category of a game is also a major indicator for measuring its development & operating difficulty and user popularity. We also listed some of the conventional games for your reference.

RPG: The criteria of these games, covering MMORPG (including turn-based games) and ARPG, are the playing difficulty and player immersiveness. Typical RPGs include Legend, Fantasy Westward Journey, and Three Kingdom RPGs.

Card games: These easy-to-play games have a wide target group because players can fully use their fragmented time to play. The primary criteria for card games are the design of draws (rarity) or card build (e.g. upgrade the card quality, enhance the equipment). Typical card games include Hearthstone.

Anime games: These games are often mid-small-sized projects that may also go viral, such as Genshin and Collapse Gakuen.

MOBA: The MOBA sector is always under cutthroat competition. Additionally, it is technically difficult for a blockchain game to pursue MOBA. Moreover, things could get tougher with traditional game developers as competitors. Typical MOBAs include LOL and PUBG.

Undeveloped markets: Waiting games targeting female players, such as Township and Moe Girl Café.

2) The cost of mobile game engines: The predominant game engines include Unreal Engine and Unity Engine. Large-scale games and 3D rendering cannot make it without the substantial support from engine development. Meanwhile, the use of game engines also reflects the development capacity and budget of a project.



3) Existence of the gold farming guild/community: In the conventional game sector, guilds are a well-established and specialized market segment. For instance, the boom of Axie Infinity cannot do without the support of Yield Guild Games (YGG), a Philippines-based game guild. A large user base and the rental approach of YGG attracted plenty of users to Axie Infinity and made users more loyal. YGG is one of the major drivers for the participation of guilds and non-crypto players in Axie, which was initially limited to a few crypto users. This has brought a massive increase in protocol revenue, on-chain/off-chain statistics, and NFT liquidity.

4) Cost and payback period: Considering the cost per user as stated above and the period of gaming fatigue, the best strategy is to set the purchase price at 200 USDT to 500 USDT and the payback period at three months.

5) In-game token recycling: One of the metrics for evaluating a blockchain game is whether there is a sound recycling and internal logic concerning the gaming cost and returns of the token economy and the increase in new players. This also relates to the adjustment of the in-game economy and gameplay in today’s established market of blockchain games. When it comes to token recycling, we can refer to AXS, dual token models, or the token economy of certain typical blockchain games.


6) Gameplay: It is a major component of the life cycle of games and also the hotspot for the next-generation blockchain games.

3. Gameplay — The next GameFi hotspot
First-generation blockchain NFT games like CryptoKittie have diminished due to the lack of long-term players.

Second-generation blockchain games are P2E games like Axie Infinity. These games run the assets on well-established Layer 2 blockchain networks and operate the game itself off-chain, thereby enabling short-term gameplay with small costs and fast results and an economic model where players make earnings in the form of in-game token rewards. However, they still lack the advantages of conventional AAA games in terms of their sophisticated gaming experience, game design, and graphics, which has placed these games in a dilemma where they cannot build an established market. The staking function, adjustment of incubation values, and BettleV2 recently introduced by Axie are all aimed at the maintenance of its established market and revenue growth.

Perhaps we are seeing the exponential growth of demand for third-generation blockchain games that stimulate users through paid entertainment such as superior gaming experiences and gameplay, rather than P2E alone.

All in all, the market is shifting to second-generation and third-generation blockchain games. In the foreseeable future, these games may have to compete with traditional AAA game companies developers. Also, as blockchain games try to move beyond the crypto world, they might face a similar problem as DeFi — compliance.

Last but not least, we will recap third-generation blockchain games based on the above on-chain/off-chain metrics and fundamentals, which also provide the major reference for evaluating their growth potential and project quality.

A Recap of the Upcoming Triple-A Games in Q4

1) Big Time
Category: RPG
Tags: Multiplayer action

Content: Big Time is a cooperative RPG that combines fast-action combat, the collectability of NFTs, and an adventure. In the game, players engage in multiplayer battles and collect NFTs through the purchase of NFT characters and items.
Recent launch plan: The game is now preselling a limited number of VIP Access Passes, which grant players guaranteed early access to the game and give them a head start on earning NFTs.

2) Spider Tanks
Category: PvP MOBA
Tags: Gala game, MOBA Tank

Content: Spider Tanks is a multiplayer battle brawler in which players own and upgrade tanks, outfit them with powerful armaments, and battle it out in one of the many Spider Tanks arenas.
Recent launch plan: Spider Tanks’ Beta version is regularly tested (last time on September 16), and it is selling limited edition Tanks.

3) Guild Of Guardians
ategory: Mobile action RPG
Tags: Over 120,000 players on the waitlist, Immutable X, free game, YGG

Content: Guild of Guardians is a fantasy, multiplayer mobile action RPG where players build their dream team of ‘Guardians’, compete in a guild to earn epic rewards, explore a rich world of dungeons, magic, orcs, elves, and more.
Recent launch plan: The game will be launched in early 2022. At the moment, it is selling NFTs and hosting a giveaway event.

4) GoldFever

Category: Survival RPG hybrid/MMORPG
Tags: Survival, Red Dead, Gold Rush

Content: Gold Fever is a challenging free-to-play survival RPG hybrid in which you engage in fast-paced battles against the opposing faction for resources and collect limited-edition NFTs like clothes, weapons, and companions. In Gold Fever, players extract the gold represented by the native crypto token, NGL, using basic and complex Gold tools. Additionally, you can also purchase and rent out items like planes, boats, or gold mining tools as well as NFTs or services for revenue.
Recent launch plan: The game has launched an updated testnet and is inviting players for testing.

The above content should not be relied on as investment advice. Please make prudent investment decisions.

OneSwap is a fully decentralized transaction protocol based on smart contracts. It does not require permission to list cryptos, supports both AMM and the order book, and improves user interaction through its own OneSwap Wallet, providing a one-stop transaction experience. OneSwap can be deployed on any blockchain platform that supports smart contracts, and it has passed the contract audit of SlowMist Technology, PeckShield, and Beosin.