Huobi Global Weekly (04/11-04/17): The rise of X to Earn
1. Last Week’s Wrap-Up
Pioneer Zone New Launch
| Listed Date | Projects | Maximum Gain Since Launch |
| 2022/04/13 | NOIA | 53.2% |
| 2022/04/14 | XCUR | 7.6% |
| 2022/04/14 | VISION | 1900% |
| 2022/04/15 | NPT | 62.3% |
| 2022/04/15 |
NYM |
1280% |
| 2022/04/15 | STG | 36.8% |
2. What to Watch Out for This Week
>Primelist<
Huobi Global will be listing PLATO (Plato Farm) on Primelist, at 13:00 (UTC) on April 22, 2022.
>PrimeBox<
Join the Primebox x Easter Eggs-travaganza: $1,000,000 prize pool, NFTs and more!
>Activities<
100,000 USDT Giveaway for Derivatives Master Contest
Contest Period: 08:00 am (UTC) on Apr 17, 2022 – 08:00 am (UTC) on Apr 22, 2022
>Spot<
Brand-New Event: Trade SMCW to Share 20,000USDT Prize Pool！
Period: 13:00 (UTC) on Apr 12 - 13:00 (UTC) on Apr 19, 2022
【Token Airdrop Event】CandyDrop Will Launch XCUR&NPT on April 12
Registration period:
NPT：11:00 (UTC) on Apr 12, 2022 – 11:00 (UTC) on Apr 14, 2022
XCUR : 12:00 (UTC) on Apr 12, 2022 – 12:00 (UTC) on Apr 14, 2022
BRWL Trading Promotion: 55,000 USDT Up for Grabs！
Period: 13:00 (UTC) on April 12, 2022 - 13:00 (UTC) on April 19, 2022
Brand-New Event: Trade TLM to Share 28,000USDT Prize Pool！
13:00 (UTC) on Apr 12 - 13:00 (UTC) on Apr 19, 2022
7. Brand-New Event: Trade NOIA to Share 40,000 USDT Prize Pool！
Period: 13:00 (UTC) on Apr 13 - 13:00 (UTC) on Apr 20, 2022
Brand-New Event: Trade QRDO to Share 30,000 USDT Prize Pool！
Period: 13:00 (UTC) on Apr 13 - 13:00 (UTC) on Apr 20, 2022
Brand-New Event: Trade VISION to Share 40,000 USDT Prize Pool！
Period: 13:00 (UTC) on Apr 14 - 13:00 (UTC) on Apr 21, 2022
Brand-New Event: Trade ARV to Share 100,000 USDT Prize Pool！
Period: 13:00 (UTC) on Apr 14 - 13:00 (UTC) on Apr 21, 2022
NYM Deposit Promotion: Join to Win a share of a 30,000 USDT prize pool
Period: 4:00 (UTC) on Apr 15, 2022 - 4:00 (UTC) on Apr 21, 2022
Enjoy Up to 400% APY on NYM with Huobi Earn
Launch Time: 12:00 (UTC) on Apr 15, 2022
End Time: 12:00 (UTC) on Apr 22, 2022
Brand-New Event: Trade ONSTON to Share 80,000 USDT Prize Pool！
Period: 13:00 (UTC) on Apr 15 - 13:00 (UTC) on Apr 22, 2022
Brand-New Event: Trade XCUR to Share 50,000 USDT Prize Pool！
Period: 13:00 (UTC) on Apr 15 - 13:00 (UTC) on Apr 22, 2022
https://www.huobi.com/support/en-us/detail/94904339512758
Click for more information
>Huobi Earn<
Enjoy Up to 30% APY on OPUL with Huobi Earn
Promotion Period: 12:00 (UTC) on Apr 11, 2022
Enjoy Up to 400% APY on NOIA with Huobi Earn
Launch Time: 12:00 (UTC) on Apr 13, 2022
End Time: 12:00 (UTC) on Apr 20, 2022
Enjoy Up to 400% APY on NYM with Huobi Earn
Launch Time: 12:00 (UTC) on Apr 15, 2022
End Time: 12:00 (UTC) on Apr 22, 2022
3. Market Movers
| Cryptocurrency | Last Week’s Closing Price (USDT) | Weekly Change |
| NYM | 1.78000000 | 256% |
| VISION | 0.10267500 | 242% |
| STG | 2.32640000 | 42% |
| MUSK | 0.00014824 | 33% |
| RADAR | 0.01974200 | 32% |
| NPT | 6.00910000 | 30% |
| LOOT | 1.50670000 | 28% |
| BFT | 0.01250044 | 27% |
| WXT | 0.00807400 | 25% |
| RAI | 0.20110000 | 24% |
4. Operating Metrics
| Security incidents | 0 |
| # of launched products | 6 |
| Contracts trading volumes | 10.86($billion) |
| Spot trading volumes | 6.9($billion) |
| On-chain user balances | 9.09($billion) |
Trading Volumes & On-chain Balances Chart
5.Huobi Research Institute Analysis
I. The rise of X to Earn
With the rise of Play to Earn, Move to Earn and other modes, X to Earn has appeared in many application scenarios of Web3, and X to Earn mode may become the "flash point" for opening Web3 applications.
The concept of X to Earn was first proposed by Ben Schecter, head of operations at RabbitHole, in an article published on the a16z official website. X can be any human behavior, such as eating, exercising, sleeping, shopping, studying, playing games, creating, watching dramas, etc. Earn is the financial gain generated by the actions of these specific scenarios. It is foreseeable that in the Web3 era, people can obtain benefits through their daily actions, playing games, learning skills, exercising regularly, or exerting their imagination and creativity, and the money will come. At present, X to Earn has appeared in many application scenarios of Web3, such as Play to Earn, Move to Earn, Learn to Earn and so on. X to Earn may already be building a new economic model of user behavior.
Development of STEPN on the Solana blockchain started in August 2021. The developers participated in the Solana Ignition Hackathon in August to October and started private beta testing the app in November. The public beta launched in December.
In January, STEPN secured seed-round funding from Sequoia Capital, Folius Ventures, Solana Capital and Alameda Research, among other investors.
The STEPN app uses move-to-earn NFT sneakers to track players’ movements outside based on the GPS signal from their mobile device. The game uses a dual-cryptocurrency token structure, with Green Satoshi Token (GST) as the in-game utility token and Green Metaverse Token (GMT) acting as the governance token for participating in the project’s development.
The GMT price has soared by as much as 1,925% since it launched on the Binance exchange on 9 March, trading at a high of $3.11 on 1 April.
（Figure 1. STEPN to USD Chart, Source: CoinMarketCap）
Cryptocurrency forecast sites like DigitalCoinPrice and PricePrediction were bullish on GMT’s future prospects, predicting that the price could move into the double-digit range over the coming years.
II. Why is X to Earn so popular?
1. The essence of X to Earn
The essence of X to Earn is to return the benefits of the original contributors due to their actions to the participants, and the background is that in more current scenarios, the participants who are the biggest contributors cannot get their corresponding benefits. Part of the revenue is owned by project developers, or by centralized companies or organizations. Therefore, the essence of X to Earn is an interest revolution, returning the rights and interests that originally belonged to the participants to them.
The essence of X to Earn is the redistribution of benefits, and the participants who are contributors get their contribution rewards that should belong to them. And this will break the distribution method of centralized control in the traditional Web2 era. The core method of X to Earn is decentralization, which is directly reflected in the decentralization of benefit distribution.
The significance of X to Earn is also to realize the redistribution of benefits. Let every contributor get corresponding rewards.
2. What to do with X to Earn
From the nature of X to Earn, what various forms of X to Earn need to do is, through the design of the economic model, so that participants can earn the rewards they deserve through X (that is, various actual behaviors). And this reward is not the various forms of points, virtual items, etc. that are not convertible into currency in Web2.
To judge whether an X to Earn is good or not, or whether it is sufficiently decentralized, is whether the decentralization of the distribution of benefits is realized, and whether the redistribution of benefits is realized, and the interests of the participants are returned to the participants themselves. Instead of just doing centralized things under the guise of X to Earn.
In addition, the popularity of the X to Earn model does not mean that everything can be "X to Earn". Whether the X to Earn model can be designed depends on whether the behavior brings a contribution other than itself, and this contribution generates benefits for another subject. If this income is occupied by a subject other than itself, the model design of "X to Earn" is required at this time to realize the redistribution of interests. This is also the basis of the "X to Earn" model and the necessity for the existence of "X to Earn".
Trade on the go with Huobi Global App (iOS/Android)
Find us on
Twitter: https://twitter.com/HuobiGlobal
Facebook: https://www.facebook.com/huobiglobalofficial/
Instagram: https://www.instagram.com/huobiglobalofficial/
Reddit: https://www.reddit.com/r/HuobiGlobal/
Medium: https://huobiglobal.medium.com/
Telegram:
https://t.me/huobiglobalofficial
Discord：
Huobi Global reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and Huobi Global makes no recommendations or guarantees in respect of any digital asset, product, or promotion on Huobi Global. Prices of digital assets are highly volatile and trading digital assets involves risk. Please read our Risk Reminder text here.
