THE POWER OF BUTTERFLY

The crypto market is in a very interesting phase at the moment. Whilst I’m writing this, Bitcoin is trying to reclaim the 42k$ mark and the whole market, in general, is trying to return to the prices that we saw during the first months of Spring. This has been a fantastic year for the whole of crypto and we have experienced different trends where projects related to a certain topic would pump massively and reach an astronomically high market capitalization.

DeFi took the lead at the beginning of the year in this sense. Projects like Aave or Maker went through a huge runup and stabilized over the next few months. Our precious NFTs came afterward and we saw Opensea’s daily volume reaching ATHs every day whilst CryptoPunks were sold for hundreds of Ethereum. Along with this pattern, Chilliz, an NFT platform dedicated exclusively to football at the time, made its way up and spent a few days between the top 30 biggest cryptocurrencies.

Then, the worst part of the year started. Elon Musk started shilling Dogecoin very heavily and suddenly every coin that was related to dogs did a 10x minimum. The same happened with coins with the word “moon” in their name. I still cannot understand how Safemoon was in the top 40 of the biggest cryptocurrencies for so long. This was a very unfortunate trend since it showed a clear lack of maturity in the market and it was clearly reflected when after some coordinated FUD by large institutions and companies, Bitcoin suffered a 55% correction. The sell-off was mostly made by retail investors who got scared by China banning crypto for the 537th time or after suddenly discovering that Bitcoin used up a lot of energy.

In July, we started to see the recovery and a new trend appeared. Crypto games! Axie infinity led the way after a successful launch on Binance Launchpad allowing other related projects to gain popularity and experience these well-known huge increases in prices.

After all of this, crypto investors are desperately looking for the next trend in crypto to get huge gains by being in that space right before everyone enters it. Lately, I have seen many people predicting that Web3.0 protocols will be the next trend, and true or not, I will talk about one of the most revolutionary projects in this space, Butterfly protocol.

WHAT IS BUTTERFLY?

Butterfly protocol is an open-source Domain Naming System that runs on the Ethereum network and that has crypto built into its core making it the ultimate decentralized protocol. This enables a secure and censorship-resistant internet that protects you from large multinational corporations like Google or Facebook that are constantly trading your personal information between them. Unlike other DNS, renewable fees are non-existent in Butterfly and once you create your domain, you own it forever.

WHAT MAKES BUTTERFLY UNIQUE?

There are different DNSs built on blockchain that are competing with each other to be the DNS of the future web so, “What makes Butterfly unique?” One of the most exciting and interesting features of this protocol is its architecture. Domains are standard ERC-721 tokens so websites in Butterfly actually live inside NFTs opening a whole new world of innovation in the future web. This makes domain selling, buying, and displaying much easier as these can easily be traded in any NFT marketplace. Metadata can also be customized so your domain NFTs in platforms like Opensea will have the image you choose instead of a standard one as with ENS or Unstoppable. These two other DNSs use standard ERC-721 only to demonstrate ownership; however, sites do not live inside them.

One feature that makes Butterfly the best alternative is the coexistence of different TLDs that the community can sponsor using $BFLY tokens. This flexible naming will allow the future web to be divided into sectors where, for example, all clothing shops might be under the “.fashion” TLD and all applications under the “.app” TLD. Customization and flexibility are things that every user is always looking for and right now, Butterfly protocol is the only blockchain-based DNS that includes this unique technology.

THE TRUE POWER OF BUTTERFLY

The actual power of Butterfly comes with its 100k $BFLY fully owned TLD function. If a new project or business is willing to launch its token, Butterfly offers a huge advantage by letting them leverage the innovative technology the protocol offers. Its cutting-edge smart contracts trigger the generation of a new token that will turn into the new project’s token. The fact that the generated cryptocurrency can be used to create NFT domains allows new projects to explore their infinitely wide spectrum of use cases. A common one is to use them to represent users within the new project’s product. If what is launching is a game, they can be used as the users but also as the potential skins inside the game which the players can then trade.

The ones who use this function will launch inside a completely decentralized ecosystem with crypto built in its core and using Butterfly’s cross-chain capabilities, they will be able to deploy in any EVM compatible chain. Different chains have different advantages but in general, lower fees, faster transactions, and greater scalability can be enjoyed in the alternative networks.

Already, a few projects have decided to choose this path. The most recognized one is StackOS, an open protocol that allows individuals to collectively offer a decentralized cloud where full-stack apps and mainnet nodes can be deployed. Another good example is Cortex App, a note-taking application that will launch in this ecosystem but this time, inside the Polygon network.

WHAT DO WE DO AT BPROTO?

At Bproto, we help projects that we believe in integrate and launch within Butterfly’s vanguardist ecosystem and help them in all the initial processes before and after their IDO. Cortex is the first example of this. We are working closely together in the development, marketing, and growth of the project pre-IDO. We provide our experience in different aspects within crypto helping these projects to achieve a successful launch. As you may have seen over the past week, we have also started to work with Escrow Protocol, a new fundraising platform that will take IDOs, crowdfunding, and Start-up investing to a whole new level. Escrow is the second project of a list that will keep growing over the next months bringing huge value to Butterfly domains as more platforms launch within this developer-friendly ecosystem.

If you are interested in launching inside Butterfly and want us to help you, contact us at sergio@bproto.io.