Will ETC take over ETHPOW? The current status of the 38 projects on the old public chain ETC

As the ETH POS merger date approaches, the discussion about ETHPOW has never stopped. A group represented by Bao Erye believes that a new ETHW should be forked, and the market value of the new ETHW will be higher than ETC, reaching 1/3 to 1/10 of the market value of Ethereum; there are also some large miners such as Bitmain who are willing to invest in migrating to ETC, and its mining pool AntPool has invested 10 million US dollars to support the ETC ecosystem. In addition, mainstream exchanges have not formed a unified opinion on any potential ETHW fork. Most of them adopt a strategy of watching and walking, and continue to track to evaluate whether to support ETHW. However, this does not seem to matter to retail investors. After all, making money is the first benefit, and there is room for speculation when there is heat.

(This article is for information sharing only and does not constitute any investment advice or endorsement)

Under the wave of Ethereum mergers and forks, the old blockchain Ethereum Classic has been rekindled , and ETC has become one of the tokens with the highest increase in the past two months, and it is stronger than ETH. The ETC chain ecosystem has gradually attracted the attention of more POW miners and large households/institutions that have a development attitude towards ETHPOW. Its total network computing power has recently approached 50 TH/s, setting a record high. However, due to concerns about the underlying technology, 51% attacks, and disharmony of interests among miners, the development of the ETC ecosystem has been extremely slow. With the recent increase in popularity, some developers have also entered the ETC ecosystem. Let's take a look at the projects currently under construction on ETC with the author.

In the verifiable project ecosystem announced on the official website, there are 38 on-chain APPs/protocols, including six categories, covering NFT, Games, Identify, Interoperability (interoperability: cross-chain, ETC-wETC), DeFi, and others. Among them, NFT-related dAPPs are the most, reaching 12, followed by DeFi, which is 10.

NFTs: Most of them are blue chip imitations on the Ethereum chain, with little innovation; the original projects are relatively weak, and most of them are in the state of unfinished, and many are suspected to be Rug Pull

MonkeyDoo

Not minted yet; 718 Twitter followers, 237 Discord members, 713 TG members

The native NFT on the ETC chain was added to the ETC official website ecosystem collection on August 26, 2022. The total number of MonkeyDoo NFTs is 3,000, with a minting price of 1 ETH, and about 50% have been minted so far; in addition, MonkeyDoo has also released 3D MonkeyDoo on the ETH mainnet, and the profits from sales will be shared with ETC MonkeyDoo holders. The total number is also 3,000, but only 2 have been minted to date, with a minting price of 0.05 ETH. According to the roadmap, it is also expected to launch MonkeyDoo Mutants on ETC and develop a merchandise store, and the profits from the sale of merchandise will be shared with ETC MonkeyDoo holders.

Classic Rewards

Not minted yet (565/10000); 646 Twitter followers, 250 TG members, 49 Instagram followers

Classic Rewards is a web 3 cross-chain (BNB, ETC, ETH) driven, free to play / play to earn strategy trading card game, which was added to the ETC official website ecosystem collection on May 2, 2022. Currently, BNB NFTs are minted at 403/6000, with a minting price of 0.2 BNB, and ETC NFTs are minted at 565/10000, with a minting price of 2 ETC; for the ETC chain, the first 1000 minted NFT holders will be airdropped 100% of the proceeds from the sale of the last 1000 NFTs; for the BNB chain, the first 500 minted NFT holders will be airdropped a total of 15 million Classic Rewards Tokens (CRT), and the next 500 minted NFT holders will be airdropped a total of 6 million CRT. CRT is not yet on sale and the game is not yet online.

Lazy Lions

Not minted yet (380/1250); Twitter followers: 567

It was added to the ETC official website ecosystem collection on February 25, 2022. The project is suspected to have abandoned development and operation, and Twitter has not been updated since July 26.

ETC Bit Pixel

Not minted yet (9480/10000); 892 Twitter followers, 298 TG members

EtcBitPixel claims to be the first P2E DAO metaverse game on ETC. It has a demo and was added to the ETC official website ecosystem collection on February 23, 2022. The EtcBitPixel ecosystem will include NFTs (minting price 3 ETC), governance tokens and P2E tokens, and will also allow the sale, lease and pledge of NFTs, but many features including tokens are not yet online. In this metaverse, there will be various types of games, each with its own economic system and tokens for players to earn. In an interview with the founder, it was stated that EtcBitPixel has its crypto investor community in Asian countries, especially in the Middle East and on the edge of the Persian Gulf. The team members are composed of programmers and game makers with 4 years of experience in Crypto and blockchain. It is worth noting that the team's head of marketing has more than 10,000 followers on Twitter, but the Twitter accounts of the rest of the members, such as CEOs, co-founders, artists, etc., are either non-existent or silent for a long time.

MoonLama

Not minted yet (1202/2000); Twitter followers: 336

It was added to the ETC official website ecosystem collection on February 23, 2022. It is suspected that development and operation have been abandoned, and Twitter was last updated on August 27.

NFTCreed

NFT trading market, was added to the ETC official website ecosystem collection on January 4, 2022. Confirmed to have run away, development and updates have been abandoned.

Classic Savages

Claiming to be the first NFT project on ETC, it was added to the ETC official website ecosystem collection on December 25, 2021. Twitter has not been updated since August 3, and it is suspected to have abandoned development and operation, but the founder @SavageProfits is still active.

Ethereum imitation disks : ETCZunks, ETCBayc, ETCBits, ETCPunks.

Games: Desert

The Man Who Sold The World Metaverse

It has 3,913 followers on Twitter and 276 members on Discord. It was added to the ETC official website ecosystem collection on May 17, 2022.

The MMORPG metaverse game built on a simulated earth consists of 10k LAND blocks. Currently, TMWSTW LAND has been sold out and has been launched on OpenSea. It is held by 514 holders, with an average of nearly 20 blocks per person. The current floor price is 0.03 ETH. According to the official statement, LAND is built on the ETH mainnet, but the game economy and assets will be built on ETC. The game is currently in "graphic mode".

Three-no projects : Commonwealth Tribes, Aqua Bank.

Identity system: ETC domain name service has taken shape

HENS (HebeBlock)

9313 Twitter followers, 4722 TG members, 509 Discord members

HENS stands for Ethereum Classic Name Service, which was added to the ETC official website ecosystem collection on February 21, 2022. It is a domain name service provider on ETC, and its business model is similar to ENS. It captures value by selling .etc domain names, domain name renewals, etc. It is one of the few protocols in the ETC ecosystem with a reliable source of income. Recently, short-digit domain names on ENS have been extremely popular, and there are still a large number of three- and four-digit domain names on HENS that have not been registered. If the ETC ecosystem develops in the future, the role of domain names will gradually become apparent. Currently, it costs less than 1 ETC to register a three-digit domain name in a year.

Suspected Rug Pull : OriginalMy, Stampery

Interoperability: Cross-chain, ETC-to-wETC

Multichain

One of the most commonly used cross-chain bridges.

Canonical Wrapped Ether (EthClassicDAO)

Wrapped Ethereum Classic, wETC, will allow direct trading with Altcoins through DEX on ETC.

Other bridges: ETC-to-wETC, EVM-to-BNC Bridge (EVM chain and BNB chain), Token Bridge

DeFi: Few users, single product and mainly focused on Swap function

Fusion/Nova USD Stablecoin (Nova Network)

The number of Twitter followers is 8544, the number of Discord members is 3460, and the number of TG members is 4926. It was added to the ETC official website ecosystem collection on September 1, 2022.

Fusion is a one-stop DeFi fund management platform built by Nova Network, including asset trading, liquidity provision, staking income, and algorithmic stablecoins. Nova Network is an open source DAG programmable smart contract platform that is compatible and interoperable with Ethereum and other EVM networks. SNT is its native token. DeFi Llama data shows that the TVL on the Nova Network chain is less than 200,000 US dollars, mainly provided by Fusion Dex; while the TVL of Fusion Dex, which is deployed on the ETC chain, is only about 2,000 US dollars.

CoinRabbit

The number of Twitter followers is 3037, there are 190 TG members, and the last Twitter update was on August 31! The project was added to the ETC official website ecosystem collection on May 19, 2022.

The DeFi lending platform allows crypto loans to be obtained using 135 options such as BTC, ETH, ADA, SOL, USDC, USDT, etc. as collateral; and allows users to use five stablecoins including USDT (TRX, ETH, BSC), USDC and BUSD for deposits, providing 8% APY.

ETCswap (EthClassicDAO)

The ETC on-chain DEX created by EthClassicDAO was added to the ETC official website ecosystem collection on May 15, 2022. ETCswap is the second largest TVL application on the ETC chain after HebeSwap.

HebeSwap (HebeBlock)

The ETC on-chain DEX created by HebeBlock has HENS domain name sales and DEX transaction fees as its revenue source, and was added to the ETC official website ecosystem collection on January 1, 2022. DeFi Llama data shows that in the past month, HebeSwap TVL has increased by nearly 200%, exceeding US$600,000, accounting for 78% of the TVL on the ETC chain.

Other financial services: Celsius Network (allows deposits of ETC to earn interest income), Gitcoin (donations), Commonwealth (savings).

Suspected Rug Pull: SwapCat, ETC HODL Contract (Website 504).

Others: DAO, Payment

ClassicDAO

The number of Twitter followers is 451, and there are 81 TG members. It was added to the ETC official website ecosystem collection on August 12, 2022.

Claiming to be the first DAO on ETC established in 2016, it uses the governance token ClassicDAO (CLD) for management. ClassicDAO claims that it will fund projects on the ETC chain after community voting and approval, and will purchase land in the future to provide future utility and growth. In addition, ClassicDAO plans to improve the ETC chain and will launch ETC Staking. It is worth noting that the DAO's official website is extremely simple. ClassicDAO is conducting a private sale of CLD, with an exchange rate of 1 ETC = 770 CLD, but currently more than 80% of the tokens have not been sold, and the deadline is September 9.

Token Factory (HebeBlock)

Users can create ETC ERC 20 Tokens with one click and perform operations such as batch transfers.

Cryptwerk

Use ETC for payment, the website covers companies and stores that accept ETC for real-world payments.

Suspected Rug Pull: XAR Network, Portal.Network

With the popularity of ETHPOW, some developers have indeed entered the ETC ecosystem construction, but it can be found that the ETC chain as a whole is still in a desert, and the overall TVL is only one million US dollars. Among the 38 protocols listed by the official, there are nearly double-digit projects suspected of Rug Pull, and the quality of more operating products/protocols is also poor, basically in a state of no one asking and no one using them. At present, the products that are barely usable are mainly created by HebeBlock or EthClassicDAO. If more POW miners enter ETC in the future, in addition to building from scratch, some funds may also be used to deepen the products of these two companies. But on the other hand, the lack of well-known projects has also hindered the entry of large funds.