What is Lens Protocol, and how does it work?

Published

3 years ago

October 7, 2022

In this guide, we share all you need to know about Lens Protocol, a decentralized social graph that simplifies building Web3 social platforms.

1inch launches on Solana with crosschain swaps in the pipeline

Published

43 minutes ago

April 29, 2025

Decentralized exchange (DEX) aggregator 1inch has launched on Solana, marking a significant step toward its vision of a “unified multichain” decentralized finance (DeFi) ecosystem.

According to a press release shared with Cointelegraph, the integration enables users to trade over 1 million Solana-based tokens directly through the 1inch decentralized application (DApp), benefiting from maximal extractable value-protected swaps, optimized rates and open-source smart contract infrastructure.

The move brings 1inch’s Fusion protocol to Solana for the first time. Fusion enables users to define their ideal swap parameters, which are then executed by competing professional market makers, or “resolvers,” using Dutch auction mechanics.

Combined with Solana’s ultra-fast block times, the setup promises more efficient and seamless trading execution than other networks.

A 1inch representative told Cointelegraph that users could expect “minimal fees” when executing swaps on Solana. “Users may expect costs of less than one cent,” they said.

1inch to launch crosschain swaps for Solana

In addition to enabling Solana-based swaps, 1inch revealed plans to roll out crosschain functionality in the coming months, aiming to allow swaps between Solana and more than 10 other blockchains already supported by 1inch.

“At this stage, there is no fixed launch date,” the 1inch representative said. “However, development is progressing well, and we expect the feature to go live in the coming months.”

1inch’s crosschain swaps functionality. Source: 1inch

The representative said that crosschain swaps will initially support the 10 blockchains already integrated into 1inch’s crosschain swap ecosystem. The final list will be confirmed closer to launch.

1inch’s expansion into Solana comes as the blockchain has outperformed Ethereum and layer-2 networks in several key DeFi metrics.

Over the past three months, it posted a 33% higher DEX trading volume ($539 billion), handled 400% more transactions, and hosted 180% more active addresses than its rivals, according to data from Dune Analytics.

“Both Solana and Ethereum play critical roles in the evolving DeFi landscape,” the 1inch representative said.

They said that while Ethereum’s network effects and liquidity depth continue to dominate today, Solana’s performance improvements and growing adoption make it a serious contender.

The integration also includes access to six APIs through the 1inch Developer Portal, giving builders tools to create new DApps and services on top of the 1inch-Solana infrastructure.

On Sept. 12, 2024, 1inch first revealed the details of its solution to crosschain interoperability issues when it published a white paper about the intent-based, crosschain interoperability protocol it was developing.

On Sept. 18, 2024, the DEX aggregator revealed “Fusion+” to allow users to swap their digital assets crosschain while retaining self-custody of the assets.

Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

Coin Market

Is the Paws Telegram mini app legit? What you need to know

Published

43 minutes ago

April 29, 2025

What is the Paws Telegram Mini App?

Paws is a Telegram-based Mini App created by the same team behind other projects, such as Notcoin and Dogs.

If you’ve been cruising around Telegram lately, chances are you’ve stumbled upon Paws, the viral crypto Mini App that’s got everyone tapping, clicking and inviting their friends like it’s 2010 FarmVille all over again.

Originally launched in October 2024 on The Open Network (TON) blockchain, Paws exploded in popularity with its ultra-simple tap-to-earn concept. Think of it as a gamified rewards engine embedded directly in Telegram, where users rack up points by completing tasks, referring others and interacting with mini-game elements.

Within just eight days of going live, Paws pulled in over 20 million users, and within a few months, that figure soared past 80 million.

But the real twist? Paws, in March 2025, migrated from TON to Solana, a move that brought more scalability, lower fees and deeper integration with a broader decentralized finance (DeFi) ecosystem. Alongside this shift came the launch of the PAWS token — used for governance, staking, in-game purchases and more — positioning Paws as more than just a viral hit.

The app’s core philosophy is simple: You create value every time you engage online, so why not earn for it? With no extra downloads needed, Paws is frictionless. You just activate the bot on Telegram (@PAWSOG_bot), and you’re in. From there, it’s all about interacting: tap items, read posts, join groups, complete quizzes, and get rewarded with points that convert into real tokens.

So, is it legit? Before answering that, we’ll unpack how it actually works.

How does the Paws Telegram Mini App actually work?

Paws has a simplified interactive interface that allows users to earn points and stay involved in its gamified engagement economy.

Once you launch the Mini App via its official Telegram bot, you’re welcomed into a digital world that rewards you for social activity. You’re not mining crypto, solving puzzles or trading tokens — you’re completing micro-tasks like tapping virtual objects, joining Telegram channels, referring friends or answering simple quizzes.

Every action earns you points, which are later converted into PAWS tokens. These tokens can then be staked, used in Paws’ upcoming in-app economy, or possibly traded depending on future listings. The simplicity is what makes it addictive, and the referral model makes it viral.

And here’s the kicker: You don’t even need a separate wallet app. The Paws Mini App syncs with existing wallets like Phantom on Solana or Telegram-native wallets (TON-based). It’s designed for ease, especially for people new to crypto.

Why Paws migrated to Solana and why it matters

At first, Paws ran on TON, but in a move that surprised some and excited others, Paws announced a major shift to Solana in early 2025.

In early 2025, Telegram introduced a policy mandating that all Mini Apps and third-party crypto wallets on its platform exclusively operate on TON. This move forced projects like Paws to choose between remaining confined to TON or migrating to a different blockchain.

Paws opted to migrate to Solana, a decision that has had significant implications:

User base migration: Over 80 million Paws users transitioned to Solana, leading to more than 9 million downloads of the Phantom crypto wallet and the creation of over 1 million new Solana addresses. NFT integration: PAWS introduced non-fungible token (NFT) vouchers on the Solana-based marketplace Magic Eden, resulting in over 100,000 transactions within two weeks.Ecosystem expansion: The migration has allowed Paws to evolve from a viral Telegram application into a full-fledged Web3 brand, with plans to integrate DeFi features, gaming partnerships and social engagement tools.

This strategic move not only circumvented Telegram’s restrictive policies but also positioned Paws to leverage Solana’s scalability and active DeFi ecosystem, paving the way for broader adoption and innovation.

Did you know? The migration to Solana led to over 9 million new downloads of Phantom Wallet, with more than 1 million fresh Solana addresses created by Paws users. That’s one of the biggest onboarding waves in Solana’s history.

The PAWS airdrop: What you need to know

No viral Web3 game is complete without an airdrop, and Paws is no exception.

Users who engage with the app, tapping, referring and completing tasks earn points, which are later converted into PAWS tokens. These tokens are distributed via an airdrop, and the team has already completed early reward rounds with plans for future drops as the ecosystem expands.

The PAWS token officially launched on March 18, 2025. Here’s a breakdown of the key events that took place:

March 11-15: Withdrawals opened to exchanges.March 17: Token deposits became available on exchanges.March 18: Withdrawals to Phantom Wallet and the official PAWS listing commenced.

The airdrop distribution was as follows:

62.5% allocated to Paws app users.7.5% reserved for established Solana communities.The remaining percentage is designated for ecosystem growth, partnerships and liquidity.

Despite the successful migration and platform enhancements, the PAWS token launch faced some challenges:

Price volatility: The token experienced a significant drop in value shortly after launch.Airdrop confusion: Many users were unsure about eligibility criteria, leading to dissatisfaction.Communication gaps: Delays and a lack of clear communication regarding the token generation event (TGE) affected community trust on X.

As of April 2025, the PAWS token is listed on a few exchanges, including Bybit, MEXC and KuCoin. There’s growing speculation that listings on more centralized exchanges (CEXs) may follow, especially given the size of the community and early engagement.

Did you know? After migrating to Solana, Paws launched NFT vouchers on Magic Eden. In just two weeks, these NFTs generated over 100,000 transactions.

Is Paws legit or just another hype train?

Paws has demonstrated substantial growth and user engagement; however, users must do their own research before joining in.

Let’s get to the big question: Is Paws legit?

Paws has demonstrated substantial growth and user engagement. The following help to make a better assessment on how to approach Paws:

Pros:

Developed by a team with a track record (Notcoin and Dogs).Successful migration to Solana indicates long-term planning and future orientation.Rapid user adoption and community growth.

Cons:

Limited transparency with no public team page or comprehensive white paper.Potential for bot-driven airdrop farming, as has been seen on Telegram Mini Apps.The project is navigating regulatory uncertainty, particularly as airdrops via Telegram Mini Apps remain in a legal gray area, often lacking clear Know Your Customer (KYC) requirements.

So, what’s the verdict? While Paws appears to be a well-used platform for casual engagement, users should conduct thorough research and exercise caution, especially when considering financial investments.

What’s next for Paws?

As the platform matures and cements its place, the team behind it has hinted at a much bigger vision: one that turns Paws from a simple viral game into a dynamic Web3 super app.

Here’s what’s reportedly on the roadmap:

In-app marketplace: Users will soon be able to spend their PAWS tokens within an integrated marketplace. This could include digital goods, services and utility items tied to the app’s gaming ecosystem, such as power-ups, skins or access to exclusive features.NFT rewards and avatar customization: Paws plans to introduce customizable avatars powered by NFTs. These will not only let users personalize their experience but also function as tradable digital assets. The team has already launched early NFT vouchers on Solana’s Magic Eden, showing a clear direction toward gamified asset ownership.Social leaderboards and guild mechanics: Paws is building out more community-first features. Competitive social leaderboards will reward the most active players, while upcoming guild mechanics will allow users to team up, compete and share rewards, blending social gaming with decentralized coordination.DeFi integrations: With its migration to Solana, PAWS has opened the door to deeper DeFi utility. Upcoming features could include staking, lending pools, yield-based games or partnerships with native Solana DeFi protocols, adding more financial layers to the Paws economy.

With a user base now exceeding 80 million and growing, Paws is laying the groundwork to evolve into a full-blown Web3 social and gaming hub — though its rapid rise also warrants caution, as regulatory clarity and long-term sustainability remain key concerns.

Coin Market

Russian ruble stablecoin: Exec lists 7 ‘Tether replica’ features

Published

2 hours ago

April 29, 2025

The concept of a Russian ruble stablecoin received special attention at a major local crypto event, the Blockchain Forum in Moscow, with key industry executives reflecting on some of the core features a ruble-backed stablecoin might require.

Sergey Mendeleev, founder of the digital settlement exchange Exved and inactive founder of the sanctioned Garantex exchange, put forward seven key criteria for a potential “replica of Tether” in a keynote at the Blockchain Forum on April 23.

Mendeleev said a potential ruble stablecoin must have untraceable transactions and allow transfers without Know Your Customer (KYC) checks.

However, because one of the criteria also requires the stablecoin to comply with Russian regulations, he expressed skepticism that such a product could emerge soon.

The DAI model praised

Mendeleev proposed that a potential Russian “Tether replica” must be overcollateralized similarly to the Dai (DAI) stablecoin model, a decentralized algorithmic stablecoin that maintains its one-to-one peg with the US dollar using smart contracts.

“So, any person who buys it will understand that the contract is based on the assets that super-securitize it, not somewhere on some unknown accounts, but free to be checked by simple crypto methods,” he said.

Source: Cointelegraph

Another must-have feature should be excess liquidity on both centralized and decentralized exchanges, Mendeleev said, adding that users must be able to exchange the stablecoin at any time they need.

According to Mendeleev, a viable ruble-pegged stablecoin also needs to offer non-KYC transactions, so users are not required to pass their data to start using it.

“The Russian ruble stablecoin should have the opportunity where people use it without disclosing their data,” he stated.

In the meantime, users should be able to earn interest on holding the stablecoin, Mendelev continued, adding that offering this feature is available via smart contracts.

Russia opts for centralization

Mendeleev also suggested that a potential Russian version of Tether’s USDt (USDT) would need to feature untraceable and cheap transactions, while its smart contracts should not enable blocks or freezes.

The final criterion is that a potential ruble stablecoin would have to be regulated in accordance with the Russian legislation, which currently doesn’t look promising, according to Mendeleev.

Sergey Mendeleev at the Blockchain Forum in Moscow. Source: Bits.Media

“Once we put these seven points together […] then it would be a real alternative, which would help us at least compete with the solutions that are currently on the market,” he stated at the conference, adding:

“Unfortunately, from the point of view of regulation, we are currently going in the absolutely opposite direction […] We are going in the direction of absolute centralization, not in the direction of liberalization of laws, but consolidation of prohibitions.”

Possible solutions

While the regulatory side is not looking good, a potential Russian version of USDT is technically feasible, Mendeleev told Cointelegraph.

“Except for anonymous transactions, everything is easy to implement and has already been deployed by several projects, but it’s just not unified in one project yet,” he said.

The crypto advocate specifically referred to interesting opportunities by projects like the ruble-pegged A7A5 stablecoin, unblockable contracts at DAI, and others.

Regulation is necessary but not enough, Mendeleev said, adding that the most difficult part is the trust of users who must see the ruble stablecoin as a viable alternative to major alternatives like USDT.

Recent reports suggest that the deputy head of Russia’s Finance Ministry’s financial policy department urged the government to develop ruble stablecoins.

Elsewhere, the Bank of Russia has continued to progress its central bank digital currency project, the digital ruble. According to Finance Minister Anton Siluanov, the digital ruble is scheduled to be rolled out for commercial banks in the second half of 2025.

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