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Building on the “privacy hub for Web3” just got a lot easier with Ankr’s RPC connection and gateway to communicate with the Secret Network blockchain.

Secret Network has made waves in the blockchain space with its Layer 1 blockchain and a relatively mature ecosystem of privacy-preserving applications. Its privacy-first focus has skyrocketed network activity after striking several strategic partnerships in 2022.

We see the current moment as the best time to add Secret Network to Ankr’s expanding RPC service. Users can now access Secret Network Public and Premium RPCs, make request calls, and receive information returns that mirror the results they would get by running a Secret Network full node on their own.

## What is Secret Network?

Secret Network, the first blockchain with data privacy by default for smart contracts, enables users to create and use permissionless and privacy-preserving applications. This one-of-a-kind functionality protects users, secures applications, and enables hundreds of never-before-imagined Web3 use cases.

Secret Network is based on the Tendermint SDK, which provides interoperable privacy across the entire Cosmos network. It combines Intel SGX (Software Guard Extension) and Trusted Execution Environment technology, as well as several encryption schemes and novel private key management for network users.

Intel SGX divides the protocol into two sections. The security component is in charge of processing sensitive data via the TEE (Trusted Execution Environment) technology algorithm, which an ordinary person may encounter, for example, when unlocking his smartphone with his fingerprint.

The network, which was first launched on mainnet in February 2020, is supported by dozens of independent development companies (including the SCRT Labs core development team), world-class "secret node" operators, and thousands of Secret Agents worldwide who are working to advance the cause of data privacy for the decentralized web.

## What is The Secret Network Public RPC?

- The RPC (Remote Procedure Call) of the Secret Network connects your wallet, command-line interface, or dApp to the Secret Network blockchain. It functions as a blockchain messenger or router, relaying on-chain information between nodes, dApps, and end users.
- Ankr's Secret Network RPC endpoints are a gateway for developers to interface directly with the Secret Network chain — a portal to communicate easily, remotely, and without the DevOps of setting up their own Secret Network nodes.
- Ankr offers a geo-distributed and decentralized Secret Network RPC composed of many independent blockchain nodes running globally for low latency and extremely reliable connections.
- It can be used by anyone, anywhere, at any time, without requiring an email address, a credit card, or any other personal information.

## What are the Benefits for Developers?

Ankr's RPC service offers a simple and straightforward resolution to the following challenges developers face:

- Eliminating difficult node operations — As anyone who has tried knows, running a node is not always as simple as it appears. The Ankr public RPC removes the need for many developers to set up their own Secret Network node, saving them hours of time building, calibrating, and troubleshooting node issues.
- Providing access to advanced tools — Ankr provides the best tools for those who want to build with Secret Network in order to build applications quickly. Those who purchase the Ankr Protocol Premium version will have immediate access to:

*Unlimited Secret Network requests*

*Global node distribution*

*Private Secret Network endpoints*

*Prioritized requests*

*WebSockets (WS) capabilities*

- Powering apps and open-source software that require Secret Network access — Connect to a cluster of high-performance nodes that contain the data required to build and run dApps with Secret Network chain capabilities.
- Strengthening the Secret Network network globally by allowing for easier development and a larger, decentralized node infrastructure. Ankr will incentivize independent and enterprise Secret Network node operators to add their nodes to the load balancer in exchange for ANKR tokens, resulting in a larger network with many more Secret Network nodes.

## What is Next for Ankr’s RPC Service?

Ankr Protocol is just getting started with decentralized infrastructure, and we intend to add support for a growing number of chains in the future. Ankr’s unique and important interface aggregates so many access points and tools in one place, allowing developers to build a truly multi-chain future.

We are currently developing RPC capabilities for many more chains, which will be available on our dashboard, which will house all of our public RPC endpoints with one-click wallet connections, chain activity, analytics, and more to come.

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Customizable Privacy with Ankr's Secret Network RPC

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As a seasoned technical writer, Galya Mikova excels at demystifying intricate blockchain topics. With a talent for simplifying complexity, she bridges the gap between complex technology and reader understanding, making blockchain accessible through her expertly crafted articles.

Galina Mikova

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At Ankr, we run RPC endpoints to multiple blockchains. In aggregate, we serve 100s of billions of requests every month. To make it easier for developers to query blockchains and pull information faster, we've developed Advanced APIs to call RPC methods using libraries in Python, Ruby, JavaScript, and cURL.

One of the Advanced APIs that delivers a host of useful features and functions to developers is the Query API. *Query API* is an access-ready solution that enables projects to interact with multiple blockchains using a single request. By indexing blockchain data from all eight currently supported chains, searching through large amounts of data is easier and faster than ever before. Query API can boast almost instantaneous processing speeds (due to the key-value filtering supported) for searches that might ordinarily take hours to process.

## What is ankr_getLogs Used for?

ankr_getLogs allows you to view events that occurred on the blockchain.

A core part of Web3 or decentralized applications (dApps) is the ability to understand when and what events happen on a blockchain. These events can trigger updates or notifications within the application that are then communicated to users. To allow users to easily access data about these events from outside of the blockchain, *AnkrScan* keeps an event log on the transactions of every block and node run on Ankr. To be able to read and understand these logs, we use the ankr_getLogs JSON-RPC method.

# What are Logs or Events?

Logs and events are used interchangeably—smart contracts generate logs by firing off events, so logs provide insight into smart contract events.

Transaction receipts contain logs.

When a transaction is mined, we can view the event logs for that transaction by calling ankr_getLogs and then acting on the results.

For example, if a purchase is being made using crypto payments, we can use ankr_getLogs to see if the sender successfully made the payment before providing the item purchased.

# Why use logs?

One advantage of using event logs is that they are inexpensive in comparison to other EVM functions. This data can be read outside of applications and used to perform an action, such as updating a front-end.

The goal of ankr_getLogs is to make interacting with supported blockchain as fast and easy as possible. Rather than sending separate requests for pulling data on events to access logs, you can group them in a single request to save time.

**ankr_getLogs was crucial in achieving faster response times when producing the snapshot after the aBNBc exploit. We had to retrieve information for hundreds of transactions across to and from multiple addresses across different blockchains in a matter of minutes to localize the attack and contain the leaked funds from compromised smart contracts. What would have ordinarily  taken 8 hours or more to complete while involving dozens of separate queries to request event and log entries was expedited down to a matter of 10 seconds to 1 minute using Advanced API functionality.**

Running ankr_getLogs allowed us to combine these requests into a single call, retrieving information for hundreds or thousands of separate requests for separate events to create one snapshot. And this is just one of the many use cases for Ankr’s Advanced API.

It makes no difference whether you are creating a Web3 project from scratch, an NFT marketplace, or simply want to connect your existing infrastructure to Web3; the ability to pull data from and index blockchains is critical.

On-chain data is at the heart of all Web3 projects and dapps, as the information contained within these blockchains is essential for a good UX.

As a result, you must sync everything from user balances to transaction histories. If you want to build multi-chain dapps, you must use data from multiple blockchains. The ability to do so quickly and efficiently will allow you to create more sophisticated dapps, platforms and protocols that will provide additional value to your customers.

However, from a traditional standpoint, indexing the blockchain has been extremely difficult due to the large amount of time and resources required.

# Query ankr_getLogs

You can easily pull data from eight supported blockchain using Ankr’s Advanced API. Running the ankr_getLogs command allows you to detect transactions and events - even in unconfirmed states - in a [real-time transaction table](https://ankrscan.io/address/0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045?balance=asset&history=moneyTransfers).

Using the Query API provides access to on-chain blockchain events and logs without any heavy lifting. ankr_getLogs is also cross-chain compatible meaning you can access data from multiple networks.

Understanding when and what events occurred on a blockchain is a critical component of web3 or decentralized applications. AnkrScan keeps an event log on every block's transactions for all the blockchains we support and the nodes run on Ankr’s RPC so that users can easily access data about these events from outside the blockchain.

Previously, to use the data stored in the blockchain you need to re-index the entire chain, which is a time-intensive task. It is difficult to create an index separately because the blocks are added and removed repeatedly in the process of forming the blockchain itself.

Ankr’s Advanced API not only solves this tedious and time-consuming task, but also provides a way to facilitate general usage; thus, ankr_getLogs becomes an important part of the overall process in order to create a variety of applications.

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Interoperable Data Extraction with Ankr’s Advanced API

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2022 was a pivotal year for blockchain and, in many ways, for Ankr. The past months were filled with building, launching, and iterating products that multiplied developers’ power to build successful Web3 experiences. These new experiences, applications, and networks have matured the technology and set the stage for the next market cycle – one that will likely amaze us all with the speed at which new users and institutions alike adopt it. 

As we stand on the verge of a new year, the time has come to reflect on all the events and milestones of 2022 and see how Ankr has innovated to be more than ready for what’s coming next.

## Adding new connections to the blockchain via global RPCs

To further its mission to empower the web3 ecosystem through decentralized innovative technology and tools, Ankr engaged in strategic collaborations with protocols, platforms, and blockchains. 2022 was especially busy for Ankr’s RPC service, adding many new partners and connections for key blockchains. We’re particularly proud of being among the first providers to Sui, Aptos and Optimism and meet the growing need for RPC endpoints serving as a gateway for developers to interface directly with these chains.

In February, we [teamed up with IoTeX](https://medium.com/ankr-network/ankr-teaming-up-with-iotex-to-speed-global-network-growth-fa48947a386) - the leading decentralized network powering the future of Web3, the Internet of Things, and the machine economy (MachineFi) – to build a robust global network of nodes.

March rolled around with another [strategic partnership with Syscoin](https://medium.com/ankr-network/ankr-partnering-with-syscoin-to-expand-global-network-17f38b5336fe), a multi-layered blockchain network. The addition of a high-performance Syscoin RPC incentivized independent and enterprise Syscoin node operators to add their nodes to the Remote Procedure Call in return for ANKR tokens. Launching Syscoin’s RPC removed developers’ need to set up their Syscoin nodes, saving them hours of setup and adding many additional Syscoin nodes to create a more robust network.

In April, we released [Public and Premium RPCs for Harmony](https://medium.com/ankr-network/harmony-rpc-now-live-on-ankr-protocol-987dc0d34955) - a layer-1 blockchain that enhances scalability with sharding and an “Effective Proof of Stake” mechanism to introduce more decentralization and security. Ankr’s Harmony RPC endpoints are a gateway for interfacing directly with Harmony catering to the thousands of new developers looking to work with Harmony.

And that was just the beginning! We followed the first quarter of 2022 with even more integrations, launching RPC connections to in-demand blockchains [Optimism](https://medium.com/ankr-network/meet-optimism-our-newest-rpc-partner-on-ankr-protocol-d0ecd84938ed), [Aptos](https://medium.com/ankr-network/ankr-leading-the-way-with-aptos-rpc-service-44437c114574), [Gnosis](https://medium.com/ankr-network/ankrs-newest-rpc-is-ready-to-serve-gnosis-builders-4886c9e12ef4) and [Klaytn](https://www.ankr.com/blog/ankrs-new-klaytn-blockchain-connection-live/), and becoming one of the first providers of a new [RPC service](https://www.ankr.com/rpc-service/) for the highly anticipated blockchain [Sui](https://www.ankr.com/blog/ankr-offers-the-first-sui-blockchain-connection/). We’re confident Ankr’s strategic move ahead of extending [Sui testnet](https://www.ankr.com/rpc/sui_testnet) to a mainnet connection as soon as it is live (estimated early 2023 will amplify the utility of the “smart contracts platform” and Layer-1 blockchain from Mysten Labs. Our RPC service is also compatible with the [Sui SDK](https://github.com/MystenLabs/sui/tree/main/sdk), enabling more streamlined development.

Optimism marked our 17th RPC partnership to support the developers’ community with a robust RPC layerwith the ability to handle vast traffic loadsthat handle vast traffic loads. The partnership is also an amazing update for dApp developers looking to integrate capabilities for low-cost and lightning-fast dApps. Each new addition to Ankr’s RPC service marked an important milestone in bringing new tech and scalability benefits to Web3 developers so they can build applications with the ability to reach billions of new users with an improved Web3 experience across multiple blockchains and environments.

To provider builders with more ways to develop on web3, we introduced a [new Pay-as-you-go model for Ankr Premium RPC services](https://medium.com/ankr-network/ankr-switching-to-pay-as-you-go-model-for-premium-users-ecfaa6684dd9). Previously, those using Ankr’s Premium Plan all needed to pay the same annual fee. But now, our PAYG plan will allow developers to use our service more flexibly and efficiently – paying for RPC requests as they make them.

Ankr grew by 2,000% in serviced RPC requests in 2022 and is currently at the forefront with more supported blockchains than any other provider with 23+ (and still counting…) Proof-of-Stake chains . With 40,000 distinct developers and 30+ global regions with nodes serving traffic, we’re going strong and setting the standard for [RPC/API connections](https://www.ankr.com/rpc/) to different chains.

## Scaling Web3 Infrastructure through Bare Metal Servers

Web3 infrastructure, L1 and L2 integrations and dApp development have come a long way in just a few years, and 2022 saw Ankr lead the way in  promoting global decentralization. Our [partnership](https://aithority.com/technology/blockchain/ankr-partners-with-bare-metal-cloud-provider-maxihost-to-scale-web3-infrastructure-globally/) with bare metal provider, Maxihost opened new avenues for monetizing existing unused server capacity through Ankr Protocol while supporting a more distributed global node network. This is a step in the right direction for promoting the growth and increasing the adoption of Web3 platforms, applications, and services.

Maxihost’s global platform, in tandem with Ankr’s monthly volume of 250 billion requests across 50 blockchain networks, means we can continue expanding distributed global networks and improve inter-node communication latency to meet the growing demand for nodes.

## Building the Future of Blockchain in Sports

Crypto and sport have long been a winning combination, and pioneers like Chilliz paved the way for a new form of team-fan engagement, interaction, and monetization. [Chilliz’s partnership with Ankr](https://medium.com/chiliz/chiliz-taps-ankr-to-develop-chiliz-chain-2-0-the-blockchain-for-sports-and-entertainment-98c2890f5a7) will lead the development of Chiliz Chain 2.0 (CC2) – a new Layer-1 blockchain- and enable sports and entertainment brands to start building for this new digital paradigm. Having already pioneered the widespread use of blockchain technology by elite sporting organizations, the first Layer-1 blockchain created especially for the sports and entertainment industries will catalyze the broader adoption of blockchain technology across sports and entertainment.

## Global Presence on Offline Events

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The Ankr team was busy flying around the world and participating in some of 2022’s most happening summits, blockchain expos, conferences and events. We hosted AMAs, our co-founder Stanley Wu gave an [interview for Nasdaq](https://www.nasdaq.com/articles/how-blockchain-layers-work:-interview-with-ankrs-stanley-wu), our head of product, Josh Neuroth, spo[ke during a mainstage panel discussion and hosted a workshop](https://medium.com/ankr-network/ankrs-ethdenver-2022-itinerary-93c5dabf6889) and our Head of DeFi Filipe Gonçalves [dived deep](https://www.youtube.com/watch?v=IoddFwBTWJs&t=335s) into the mechanics of benefits of liquid staking at the [Staking Summit](https://newsletter.stakingrewards.com/p/the-worlds-first-staking-summit-will?sd=pf). 

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Between developing new products, adding new nodes to our RPC service and forming new partnerships, we found the time to be a part of the Eth Dever Web3 hackathon, the Avalanche Summit, Binance’s Blockchain Week Paris, Messari New York and throw a kick-ass Ankr Party in Amsterdam for Eth Amsterdam. 

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## Getting Our Gaming On

2023 saw Ankr hit another milestone regarding expanding our product offering with the launch of a Gaming SDK to accelerate the advent of Web3. Beyond giving game developers everything, they need to create an amazing Web3 game, from best-in-class web-3 infrastructure to NFT’s, marketplaces, and multi-chain wallet integrations. The feedback was so positive that we decided to take this to the next level with a Second Gaming SDK on the popular Unity and Unreal engines to allow developers to integrate games with multiple blockchain ecosystems including Ethereum, BSC, Polygon, Fantom, Avalanche, and more.

We’re thrilled that [Meta Apes](https://metaapesgame.com/) chose Ankr’s Gaming SDK and AppChain-as-a-Service to create a Web3 gaming experience out-of-this-world! The real player-owned Web3 Game runs on BNB Application Sidechain (BAS), which allows it to have its own chain dedicated to Meta Apes only (Ape Chain).

Ankr’s comprehensive gaming SDKs supporting Unity and Unreal Engine provide an easy-to-use, complete solution for adding a wide range of Web3 features that will make games more fun for players in the coming Web3 era.

## Creating a New Environment for Decentralized Development

To meet the growing demand for Web3 projects and dApps scaling solutions, Ankr launched several products to provide developers with maximum flexibility and sovereignty. Our [AppChains](https://medium.com/ankr-network/ankr-app-chains-the-future-of-web3-development-e94ec0bf9c72) are an end-to-end solution for creating app-specific chains on ecosystems to build extremely customizable blockchains with higher performance, usability, and interoperability levels. To further enhance developer experience when operating with the AppChains, Ankr launched [Chainscanner](https://medium.com/ankr-network/introducing-chainscanner-4a96e991b31a), an all-in-one block explorer and crypto analytics platform for app-specific blockchains (AppChains).

One of the high points in the AppChain product offering was the [launch](https://medium.com/ankr-network/ankr-helps-launch-the-future-of-bsc-sidechains-b42926661ad3) of the first **Binance Smart Chain Application Sidechain** **(BAS)** testnet along with [Celer](https://www.celer.network/) and [NodeReal](https://meganode.nodereal.io/). This announcement was a critical moment in the BNB Chain’s 2022 [roadmap](https://www.bnbchain.world/en/blog/bsc-2022-build-and-build/), and Ankr was proud to support the BNB ecosystem as an infrastructure partner. The Binance Smart Chain Application Sidechain (BAS) framework will allow developers to build highly scalable dApps and games on Binance Smart Chain via dedicated sidechains.

Further to our efforts to support developers in integrating Web3 capabilities into their projects, Ankr also released [Advanced APIs](https://medium.com/ankr-network/ankr-launches-specially-designed-advanced-apis-44c423256244). The collection of RPC methods was created to simplify querying blockchain data of all types. With Ankr’s Advanced API service, the blockchain data developers need is easier, quicker, and cheaper to retrieve.

## Becoming a Default Infra Provider on Ethers.js Library

Ethereum remains the golden standard for Dapp development and its Ethers.js library is the complete and compact library for interacting with the Ethereum Blockchain and its ecosystem. [Becoming a default infra provider on Ethers.js library](https://medium.com/ankr-network/ankr-is-a-default-infra-provider-on-ethers-js-library-d3f98645bdb2) is a true testament of trust in Ankr’s capacity to provide a safe, robust and easy way to begin developing on Ethereum, and for use in production.

## Working to Bridge CeFi and DeFi

Crypto is moving toward the mainstream. As part of our efforts to increase adoption  Ankr joined [Start Path Crypto](https://developer.mastercard.com/programs/start-path-crypto/), Mastercard’s blockchain-focused startup engagement program and other companies and startups. We view this move as the next logical step in acquiring the partnership opportunities, insights and tools we need to grow and position crypto from largely speculative investment to a global financial phenomenon.

## Ushering In a New Age in Liquid Staking

2022 was the year when liquid staking became a dominant trend in DeFi, gaining traction with 11 billion $+ deployed through liquid staking protocols. Throughout the year, Ankr was at the forefront of liquid staking developments, developing and supporting liquid staking products on seven different L1s and continuing to expand.

As part of our Liquid Staking tokens model overhaul, we simplified users’ staking experience - removing reward-earning tokens (b-tokens) and standardizing the names of reward-bearing tokens (c-tokens).

Staying true to our ethos of growing and preserving wealth in a decentralized manner, we launched a Referral program that lets anyone [become an Ankr partner](https://www.ankr.com/docs/staking/for-integrators/referral-program/overview/) and generate more revenue attracting new users to Ankr Liquid Staking.

Although we experienced an exploit on the aBNB token due to a social engineering attack this year, we learned a lot from this incident, were able to act fast and contain losses. As unfortunate as this exploit was, we executed a [Recovery Plan](https://www.ankr.com/blog/after-action-report-our-findings-from-abnbc-token-exploit/) and are proud of how the team handled the situation at every turn and did right by taking care of our community.

We’re ending the year on a high note as a top 1 liquid staking provider with [$144.9m in TVL](https://dune.com/ankr/bnb-liquid-staking-monitor) (Total Value Locked) and an Average APY of 4.35%.

## Increasing exposure for the $ANKR token

$ANKR is the glue that holds the whole Ankr ecosystem together, and we’re thrilled to see its **acceptance is on the upswing as the token got listed on Kraken,** one of the most popular cryptocurrency **exchanges** used by many on a global level. The [listing on Kraken](https://mobile.twitter.com/krakenfx/status/1483514633235443715) represents yet another top-tier exchange listing with $ANKR already listed on some of the biggest exchanges on the market – Binance, Coinmarketcap, Bithumb, Bittrex, and Kucoin, to name a few.

In 2022, the $ANKR token was in the spotlight for all the right reasons, including a new [staking mechanism](https://www.ankr.com/docs/app-chains/components/staking-ui/) to amplify rewards and returns for our community and users. The launch of Ankr Network 2.0 saw us introduce staking to independently run full nodes, allowing users to stake their tokens with the independent full nodes running on our new decentralized Network.

These are just a few of the ways we sought to enhance our ability to offer our clients and users the finest services by working side by side with crypto projects, DeFi protocols, blockchains and DEXs. And as 2022 brought about significant challenges to overcome, we are confident we remain on the right track humbled and empowered by the continuous support of our community and partners. We can’t think of a greater testament to the trust we’ve been given than [Binance Labs’ strategic investment in Ankr](https://www.binance.com/en/blog/ecosystem/binance-labs-makes-a-strategic-investment-in-ankr-8803429302834521105) and our rapidly growing global community.

Thank you for a fulfilling 2022, and we look forward to building with you in 2023!



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Ankr 2022 : A Year In Highlights

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It’s been a week since Ankr detected a hack that resulted in excessive minting of our BNB liquid staking token (aBNBc) and its rapid exchange for other tokens on decentralized exchanges. The team was able to briskly patch the exploit within hours and deploy an initial $15m Recovery Fund that has now been exceeded to compensate DeFi BNB liquidity providers, BNB lenders, and DeFi protocol users affected by the aBNBc exploit.

The compensation plan is scheduled to take part across several stages so we can monitor conversions and move quickly to reimburse all legitimate and affected aBNBc & aBNBb token holders based on a snapshot taken December 2, 2022 (Dec-02-2022 at 12:43:18 AM +UTC - Block number: 23545403).

## What Has Been Accomplished So Far?

After announcing the Recovery Strategy on the [Ankr blog](https://www.ankr.com/blog/the-abnbc-token-report/) and our official [social media channels](https://twitter.com/ankr/status/1598768146088742912), we took several measures to start compensating users to the full extent of the losses they incurred as a result of the exploit.

So far, we have been able to complete various Airdrops of ankrBNB and BNB tokens to wallet addresses that held aBNBc and aBNBb at the time of the *snapshot* through smart contracts and liquidity pools. The team is working closely with several DeFi protocols to ensure the safety and best interest of their communities. We will continue to share further updates as they are released.

As of now, we have met the following milestones in our Recovery Plan:

### Re-stabilized HAY Price

On Thursday, December 8th, 2022, Ankr finalized the purchase of 6,843,323 HAY on Decentralized Exchanges out of the entire 17,747,582 HAY of accumulated bad debt. This move succeeded in stabilizing HAY’s price, pushing HAY/BUSD up to $0.98. 

Additionally, on Tuesday, December 13th, Ankr burned **6,000,000 HAY,** which is the first burn to the [Helio Bad Debt Burn Address](https://bscscan.com/address/0x192D4e2E19A01e49b30Fb3894A01B6e08947d9CA). Immediately after the incident, the Helio team stated that it would be repurchasing the excess HAY and sending it to a burn address. Helio Protocol had a total value locked of approximately $90 million before the incident of which Helio has already bought back $3 million worth of bad debt in HAY in the open market.

### Airdropped ankrBNB to Affected DeFi Users

On Friday, December 9th, 2022, Ankr airdropped ankrBNB to wallet addresses that held aBNBc and aBNBb at the time of snapshot through smart contracts for a number of partner DeFi protocols. We were able to complete the airdrop for the following protocols:

- Ellipsis Finance
- PancakeSwap
- Beefy Finance
- ApeSwap
- ACryptoS
- Wombat
- Wombex
- Magpie
- Quoll

### Airdropped BNB to Affected LPs

On Monday, December 12th, 2022, Ankr airdropped BNB to wallet address that held BNB through aBNBc or aBNBb liquidity pools. The liquidity pools we compensated addresses for are:

- ACryptoS ASCI Farm: 18.57922911707609861 BNB
- ACryptoS LP: 0.312655746961921 BNB
- ApeSwap LP: 192.73227886323606338 BNB
- Ellipsis LP Beefy Vault: 829.820502618376604417 BNB
- Ellipsis LP DotDot Farm: 332.017235831474294796 BNB
- Ellipsis LP Farm: 17.327942433773631424 BNB
- Ellipsis LP: 9.987203105242974679 BNB
- Kalmy vault: 52.996829992 BNB
- Izumi LP: 509.783825632276009070 BNB
- PancakeSwap LP Beefy Vault: 697.936888689457446913 BNB
- PancakeSwap Farm: 6,225.408642285559266733 BNB

### Airdropped ankrBNB to Missing Addresses

Ankr also airdropped ankrBNB to missing wallet addresses that held aBNBc and aBNBb at the time of the *snapshot* through smart contracts on the following protocols:

- Izumi
- DotDot Finance
- Kalmy

### Unlocked ankrBNB  Transfers

After halting trading for aBNBc and aBNBb tokens and completing the token migration to the new ankrBNB, we are unblocking transferability of newly airdropped ankrBNB tokens.

### Plan for Reimbursing Wombat stkBNB LPs

As of December, 19th, we have reached a bilateral agreement with pStake to airdrop 2,654.352 ankrBNB and 681.051 stkBNB, which will partially cover the loss of stkBNB liquidity providers on Wombat. The nature of the mixed liquidity pools on the decentralized exchange poses a challenge in estimating the losses of affected users but Ankr is happy to have reached a decision with the management team of Wombat for adequate compensation. 

### 100% coverage for Wombat BNB LPs

Ankr will provide 100% coverage of the BNB Wombat LP estimated at **14,407.155 BNB. At the first stage of the Recovery Plan for Wombat users, wallets that directly or indirectly held Wombat BNB LP tokens at the time of the snapshot will be compensated in full on December, 19th. 

Later this week, we will compensate wallets that directly or indirectly held Wombat BNBx LP via an airdrop for 50% of the tokens they held. 

### What is Ankr's Rationale Behind the Recovery Plan and Airdrops? 

Over the last couple of weeks, Ankr has held multiple talks with partners and professionals in the crypto field, consulting with key stakeholders impacted by the aBNBc exploit in the @BNBChain ecosystem. Our strategy was designed with all affected parties and our community's best interest in mind to ensure fair and timely compensation.

To this effect, we made a decision to accelerate the ankrBNB token mint to provide complete protection to Ankr liquid stakers. Ankr covered 100% of all the DEX LPs that we have incentivized on at least one occasion. 

The BNB LP Wombat was co-incentivized by Ankr alongside pStake and Stader. Our calculations show that about 24% of that pool held Ankr[ liquid staking tokens](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) funded via our liquid staking proportion on the Wombat common LP. Nevetheless, Ankr has made the decision to cover 100% of the pool to mitigate the adverse effects on liquid staking liquidity pools in general as a result of the exploit. We see having BNB suppliers as essential for BNB liquid staking and want to continue playing a key role in the advancement of liquid staking as a new standard in DeFi as whole. 

Despite the stkBNB LP and BNBx LPs never having been incentivized by Ankr, we acknowledge the aBNBc exploit affected both stkBNB and BNBx. However, these are inherent risks that multiple token pools bear due to their design. Ankr never incentivized any stkBNB or BNBx token holders to enter this pool but we will cover 50% of those pools with an airdrop as a sign of our goodwill. After careful consideration, we believe this strategy to be fair given the circumstances of the exploit and the fact that Ankr has never provided any incentives to enter stkBNB LP and BNBx LPs.


## In Conclusion  

**We want to thank the community for your ongoing support, patience, and feedback during this time.**

Please see our [After Action Report](https://www.ankr.com/blog/after-action-report-our-findings-from-abnbc-token-exploit/) for more details on our findings from the exploit. 



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Ankr Makes Progress With Recovery Program Targets and Milestones

# **The Role of DeFi in Web3**

The rise of decentralized crypto networks, also known as Web3.0, marks a shift in how people and organizations interact. These new networks will replace traditional intermediaries such as Web 2.0 and allow people to conduct transactions more securely and openly.

The decentralized digital economy, also referred to as Web3, consists of various protocols and features. One of these is DeFi, which is the Internet finance system that’s inherent to the global-reaching, decentralized Web 3.0 era. As we’re nearing wider Web3 adoption, DeFi is now still considered merely a part of the blockchain industry, and more popular than Web3.

The rise of Web3 has given us reasons to believe that the future of economics will be based on on-chain transactions. Some of the things that users can do in Web3 are to manage their funds using wallets all around the world. They can also program and trade real estate assets and NFTs in a trust-minimized manner.

In addition to being able to provide users with a variety of products and services, Web3 also requires higher variety and stability. For instance, the core assets of the market need better transparency, programmability, and availability. Despite the technological advancements that Web3 has brought to the market, the performance of these assets has been mixed.

## **What are DeFi’s Innovations?**

One of the innovations of DeFi is the over-collateralization to “solidify” value. This concept is similar to the traditional model of protecting LP's assets from risks. However, it is a kind of value solidification from a different perspective. For instance, let's say that Alice purchases a piece of code from Bob for $100. The price of the code has been set at 100 USD. In a volatile market, it is hard to tell its value. However, given Alice's purchase price of 100 USD, a 70% discount would give people more confidence in accepting the deal. It is reasonable to assume that the new consensus will be around $30.

This new consensus regarding the value of Web3 has given us a reason to believe that the solidified will eventually be more reliable. This is because the code that is used to validate the value will become valuable.

## **Further Release of Liquidity**

DeFi is evolving in the direction of “everything can be staked”, which is the biggest difference from existing synthetic protocols. This new approach to the way assets are valued will allow investors to benefit from the low liquidity and high value of real assets off-chain. It will also provide them with a solid underlying asset base.

The development of StakeFi will serve as a steady cash flow in the crypto market, which will be a cornerstone for DeFi’s future development. It allows for the capture of on-chain liquidity by allowing for the generation of protocols using various cryptocurrencies, including NFTs and native tokens. Additionally, it allows for the creation of required subchains and enterprise staking solutions.

The emergence of receipt tokens is a significant step in the evolution of DeFi, as it allows liquidity providers to offer a more efficient and effective trading experience. However, these types of tokens are not widely used as financial assets.

Through the use of on-chain liquidity, investors can easily manage the multiple risks associated with their assets in a single crypto wallet. These synthetic assets are designed to meet the needs of investors, as they are upgraded versions of TradeFi's assets.

Due to the increasing number of decentralized finance and blockchain technologies, the fragmentation of liquidity in the crypto market has become an inevitable challenge. The market is currently dispersed across different blockchains and DeFi protocols. Under this circumstance, it is crucial to fill the gap between the overly volatile assets and stable assets to facilitate the transition of value to Web3.

## **Efficient development requires gradual understanding**

Experts predict open finance transactions will be several times larger than those conducted through the current DeFi when it enters a mature stage. Open finance may even completely outshine the status-quo financial sector.

In light of the technological advancements in the field of finance, many have lost faith in Ethereum remaining the preferred network for developing open finance applications. The cost of developing Web 3.0 applications using Layer2 is still too high, and the lack of upgradeability and customization are also factors that prevent it from becoming a viable platform.

By moving DeFi to a new public chain, and then building a Web 3.0 appchain around it, would mean that both Web3.0 and DeFi can accelerate their adoption.

For new technologies, such as multichain networks, researchers should start to gain a deeper understanding of the infrastructure that supports and surrounds them. However, it can be very challenging to maintain a priori faith in the principles of Web3.0.

The development of blockchain technology is expected to be similar to that of urban development. Cities and markets eventually develop due to the availability of various resources and convenient transportation of resources. The network effects will eventually drive a few cities to become financial centers that serve a wide range of industries.

We are very confident in Ankr as a Web3 and DeFi infrastructure provider. The company's traction has gained in just a short amount of time into a new era of multichain development powering Web3 devs with purpose-built APIs. As the ANKR ecosystem continues to evolve on the conception of a contemporary internet, the expanding framework with a cross-chain staking DeFi functionality will facilitate staking and dApp improvement in the context of Web3.

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The Role of DeFi in Web3

Ankr is excited to announce a new partnership with SushiSwap – the fully decentralized exchange that recently launched Stable Liquidity Pools as a complement with its existing automated market making (AMM) pools. Under our collaboration, SushiSwap is launching a Stable Liquidity Pool in combitination with BentoBox for MATIC and aMATICc liquid staking tokens, significantly reducing the capital inefficiency of liquid staking liquidity pool.

BentoBox is a vault that enables SushiSwap to perform very conservative strategies to generate yield on deposited tokens in BentoBox by depositing these tokens on dApps such as Aave. Combining Stable Liquidity Pools and BentoBox will enable liquidity providers to earn lending interest on MATIC, while continuing to benefit from Liquid staking rewards from aMATICc, swap fees from SushiSwap (0.05%) and farming rewards. Furthermore, funds in Bentobox can also be used for flash loans to generate a small fee, thus generating extra yield.

The mechanisms of the BentoBox will see about 70% of the MATIC tokens lent through Aave and generating interest. The remaining 30% will be kept in the liquidity pool and freely used to swap between aMATICc and MATIC.

Currently, the main source of yield in liquidity pools comes from swap fees and farming rewards. However, the portion of swap fees does not compensate the opportunity cost of no longer staking half of MATIC in the liquidity pool when compared to simply staking MATIC.

Ankr’s goal has been to attempt to reduce the capital inefficiency of [liquid staking](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) liquidity pools by finding innovative solutions through DeFi partners such as SushiSwap to reward liquidity providers by enabling them to access additional yield in a sustainable way by fully using the benefits of DeFi composability.

## **What is Unique About Ankr and SushiSwap’s BentoBox**

BentoBox’s single vault token-holding mechanism is a game-changer. It utilizes a principal location for held assets, eliminating an unnecessary multitude of transactions, which lowers the overall gas processing fees for internal token transfers. The combination of a new venue for yield generation and gas optimization is a feature that Liquid Staking Liquidity Providers will greatly benefit and reducing significantly the capital inefficiency of liquid staking liquidity pools by accessing an additional sustainable stream of lending rewards coming from Aave.

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Ankr Partners with SushiSwap for a new Stable Liquidity Pool Using BentoBox to Boost Rewards

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Networks

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Ankr is thrilled to announce an essential addition to our RPC service with Base blockchain endpoints. Ankr’s RPC connections to Base will allow developers to build dApps on top of the network that have the ability to quickly and reliably communicate with the network and execute onchain transactions.

Ankr’s RPC API solutions for Base are now listed on the website’s [documentation](https://docs.base.org/tools/node-providers), providing a readily accessible tool for web3 developers to begin building their applications. Ankr’s node infrastructure aims to help scale Base as the network opens its public mainnet on August 9 for global use.

## What is Base?

Base is an Ethereum Layer-2 blockchain that was built to become the onchain home for Coinbase products, users, and assets. It also serves as an open ecosystem allowing Web3 developers to create new dApps on top of the network. Powered by Optimism's OP Stack, Base aims to be one of the most secure, scalable, and interoperable EVM L2s in existence.

**[Learn more about Base.](https://base.org/)**

## A Word From Base & Ankr’s CEO

*“Node providers are essential to support builders deploying their dapps on Base, and we’re excited to work with teams like Ankr that are helping provide a strong foundation and help us deliver on the vision to bring the next billion users onchain.”*

-- Jesse Pollak, Creator of Base and Head of Protocols at Coinbase

*“Ankr is incredibly excited about the potential for a more unified and standardized blockchain ecosystem with Base and Optimism’s OP stack. Interoperable scaling solutions working together with Ethereum as a settlement layer create a user-friendly means of onboarding the next billion citizens of web3. We’re going above and beyond to support the network with high-performance Base node infrastructure and connections.”*

-- Chandler Song, Co-Founder & CEO, Ankr

## What Are Ankr’s New Base RPC Connections?

- Ankr’s Base RPCs (Remote Procedure Calls) connect wallets, command-line interfaces, or dApps with the Base blockchain. They act as a messenger or blockchain router that relays on-chain information between Base nodes, dApps, and ultimately end-users so they can execute necessary tasks like making transactions, populating wallet balances, fetching ownership information, and much more.

- Base RPC endpoints are a gateway for developers to interface directly with the Base network — a portal to communicate easily, remotely, and with no need to go through the DevOps of establishing their own Base nodes.

- Ankr is providing a geo-distributed Base RPC comprised of blockchain nodes running worldwide for incredibly low-latency and reliable connections.

**[Get started now with our Base RPC endpoints!](https://www.ankr.com/rpc/base)**

## How Do the Base RPCs Help Developers?

Building with Base is an excellent choice to create connected and scalable dApps but requires access to the information on Base nodes to do so. Therefore, Ankr’s RPC solves the following developer troubles:

**Eliminates complex node ops** - Ankr’s Base RPCs will completely remove the need for many developers to set up their own Base nodes, removing hours of time spent building, calibrating, and fixing node issues.

**Grants access to advanced tools -**  Ankr’s [Premium RPC Plan](https://www.ankr.com/rpc/pricing/) instantly grants access to the best tools to build applications quickly, including:
- At least 90,000 Base requests/min
- High request priority
- Global node locations
- Telemetry
- Debug mode
- Support Portal
- WebSockets (WS) capabilities

**Powers apps and open-source software that need access to Base** - Connect with a cluster of high-performance nodes that holds the information you need to build and operate dApps with Base blockchain capabilities.

**Supports the Base network**Ankr will strengthen the Base network globally by offering easier development and a broader, distributed node infrastructure.

## Get Started Building On Base For Free

You can get started now by heading to [Ankr’s RPC Service](https://www.ankr.com/rpc/) to make your first call! You can use the endpoint **https://rpc.ankr.com/base** to call the Base chain using the standard EVM JSON RPC methods.

Join the Conversation on Ankr’s Channels

[Twitter](https://twitter.com/ankr) | [Telegram Announcements](https://t.me/anrknetworkann) | [Telegram English Chat](https://t.me/ankrnetwork) | [Help Desk](https://ankrnetwork.atlassian.net/servicedesk/customer/portal/10) | [Discord](http://discord.ankr.com/) | [YouTube](https://www.youtube.com/channel/UCErrNjCg6raOsq5MQ9fpIig) | [LinkedIn](https://www.linkedin.com/company/ankr/) | [Instagram](https://www.instagram.com/ankr) | [Ankr Staking](https://eth2.ankr.com/)

Build On Base With Ankr’s Newest RPC Connection!

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Kevin is a business writer, journalist, and avid explorer of the blockchain and tech industry. His work has been covered across crypto and traditional media as Ankr’s Senior Writer, with topics spanning the big picture of “Web3,” tech breakthroughs, and how blockchain is changing our digital lives. Working with some of blockchain’s most talented engineers daily, Kevin gains unique insight into what advances we can expect next and the implications they hold for us all.

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Kevin Dwyer

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Ethan Nelson, a DeFi enthusiast and member of the Ankr Staking team, delves into DeFi topics with expertise. His insightful articles simplify complex concepts, empowering readers to navigate the dynamic world of decentralized finance confidently. Stay informed with Ethan's illuminating content on all things liquid staking and DeFi related.

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Customizable Privacy with Ankr's Secret Network RPC

Interoperable Data Extraction with Ankr’s Advanced API

Ankr 2022 : A Year In Highlights

Ankr Makes Progress With Recovery Program Targets and Milestones

The Role of DeFi in Web3

The Role of DeFi in Web3