Protocol Village: Blockchain Key Manager Cubist, Led by Carnegie Mellon Prof, Launches Bridge-Security System 'Bascule'

In today's edition: Cubist, Cosmology, Decentraland, Azura, RedStone, EigenLayer, Midnight, SingularityNET, Tenstorrent, Satflow, Xai Foundation, Apillon, Borderless.xyz, Impossible Cloud Network, exSat Network.

Wednesday, Oct. 23

Blockchain Key Manager Cubist, Led by Carnegie Mellon's Wahby, Launches Bridge-Security System 'Bascule'

PROTOCOL VILLAGE EXCLUSIVE: Cubist, a blockchain startup focused on key management led by applied-cryptography expert and Carnegie Mellon computer-engineering professor Riad Wahby, announced the launch of a new bridge security system, Bascule. According to the team: "Bascule will effectively prevent staking hacks in real-time and eliminate custodial risk in staking projects. Bascule reports all user deposits made on a given chain to a smart contract on a second chain, providing a cross-check that solves the fundamental lack of reconciliation between deposits and withdrawals that leads to almost all serious bridge hacks. With Bascule, staking platforms and their users can now trust that every minting and withdrawal request is backed by a legitimate deposit." The following are a couple quotes from Wahby in an interview:

• "The grew out of a collaboration with some folks in the Bitcoin space," including the liquid staking protocol Babylon.
• "We've seen a lot of approaches to building bridges, which are based on these five people not getting hacked."
• "If only you had the cosmic cross-chain accountant – what happened on this side, what happened on that side – you would almost sort of be OK."
• "So the question was, How do we build this really dumb accountant, mostly an observer?"
• "This watcher is there to make sure that what's happening on the bridge is sensible."
• "You're not making the bridge more complex, you're adding this orthogonal functionality."

Cosmology, Focused on Cosmos-Based IBC Ecosystem, Launches 'Hyperweb' for JavaScript Developers

Cosmology, a developer of tools for the Cosmos-based IBC ecosystem, announced the launch of Hyperweb, "an end-to-end TypeScript blockchain ecosystem bringing JavaScript developers on-chain." According to the team: "With best-in-class UI and client-side tooling along with a TypeScript smart contract development environment, Hyperweb is the culmination of Cosmology’s success creating Web3 dev tooling used by hundreds of blockchains, including dYdX, Celestia and Osmosis. Building on Founder Dan Lynch’s decades of building enterprise no-code solutions for Fortune 100 enterprises like GE and Visa, Hyperweb realizes the vision of a “no-chain” platform for Web3 dApp development." The announcement was due to be made at Cosmoverse in Dubai on Wednesday.

Decentraland, Virtual World on Open Protocol, Launches Desktop Client

Decentraland, describing itself as a virtual world owned by its users on an open protocol, is launching its new desktop client on Oct. 22, "designed to significantly improve performance and immersion for users," according to the team: "The Unity-powered client replaces the web-based platform, offering faster load times, higher frame rates and more accurate multiplayer interactions. Enhanced visual fidelity includes a procedurally generated landscape, dynamic lighting effects and optimized avatar rendering. This new client serves as the foundation for future expansion into VR and mobile, reflecting Decentraland’s commitment to decentralized, user-owned virtual worlds."

Azura, DeFi Platform Founded by 21-Year-Old, Raises $6.9M, with Winklevoss Backing

Azura, a new DeFi platform, has emerged from stealth with $6.9 million in funding led by Initialized Capital, backed by Winklevoss Capital and Solana's Raj Gokal, according to the team: "Azura aims to unify DeFi with an omnichain platform that aggregates liquidity across multiple blockchains and protocols, simplifying trading and yield farming. Its intent-based order routing tackles the fragmentation of onchain assets, enhancing the DeFi user experience while preserving decentralization. Built by top engineers, Azura seeks to drive broader adoption."

RedStone, DeFi Oracle Provider, Deploys AVS Testnet on EigenLayer

RedStone, a DeFi oracle provider focused on decentralized financial data solutions, will deploy its AVS testnet on EigenLayer, "enhancing DeFi security by dynamically adjusting collateral with advanced restaking technology," according to the team: "They will be the first and only oracle to offer this feature for EigenLayer. RedStone has significantly expanded its DeFi presence by securing over $5 billion in assets, a 1,250% increase this year. Utilizing EigenLayer's restaking technology, their AVS testnet dynamically adjusts collateral like ETH, LSTs, and BTC to enhance security and mitigate volatility."

Midnight, Data-Protection Blockchain Relying on ZK Tech, Expands Developer Tooling to Add APIs, EVM Endpoint Support

Midnight, a data-protection blockchain relying on zero-knowledge technology, has expanded its partner ecosystem to accelerate zero-knowledge dApp development. According to the team: "Midnight is working with Maestro, Paima Studios and Sindri to bring enhanced tooling to developers building on its recently-launched testnet as it prepares for its anticipated mainnet launch in 2025. The tooling includes powerful data APIs, EVM endpoint support and shortened proving times, for developers building zero-knowledge applications."

SingularityNET, Tenstorrent to Collaborate on AGI Development With Applications From Neural Networks to Autonomous Systems

SingularityNET, an open and decentralized network of AI services enabled by blockchain, has partnered with Tenstorrent to accelerate the development of artificial general intelligence (AGI) "by combining cutting-edge AI software with advanced hardware," according to the team: "This collaboration aims to create optimized systems that enhance AI performance across various applications, from deep neural networks to autonomous systems. With support from the Artificial Superintelligence (ASI) Alliance, this partnership will drive forward ethical, decentralized advancements in AGI and AI technologies, transforming industries like robotics and healthcare."

Bitcoin Startup Satflow Targets 'Mempool Sniping' in New Token-Trading Rival to Magic Eden

Satflow, a Bitcoin infrastructure firm focused on the Ordinals and Runes ecosystems, has introduced a decentralized exchange (DEX) for professional traders – positioned as a less-expensive alternative to the popular NFT marketplace Magic Eden. In a press release shared with CoinDesk, Satflow said that its fees initially will be 0%, claiming they would be a couple percentage points lower than Magic Eden's. The new DEX's aim is to eliminate the practice of mempool sniping, which is when users exploit the time lag in which a transaction is waiting to be added to a Bitcoin block.

Former PwC Blockchain Leader Shipman Joins Xai Foundation as CEO

The Xai Foundation announced the appointment of John Shipman as the company’s new CEO. According to the team: "John joins Xai Foundation after over a decade at PwC, where he founded its first ever Blockchain/Digital Asset Services business unit in 2016. He joins an established team that has overseen Xai's growth and maturity as a blockchain, recording the highest transactions-per-second (TPS) rate of any blockchain in the Ethereum ecosystem for over eight consecutive weeks in 2024. The Xai Foundation is a core contributor to the gaming-centric blockchain network, Xai.

Apillon, Polkadot Developer Tool Platform, Introduces Embedded Wallet SDK to Enhance Web3 Onboarding

Apillon, a Polkadot developer tool platform, has introduced its Embedded Wallet SDK, "to enhance Web3 onboarding process by integrating wallet functionality into apps," according to the team: "Users can log in with email, social accounts, or passkeys, streamlining the setup by eliminating the need for traditional wallets and private key management. The SDK allows developers to create user-friendly wallets that provide a Web2-like login experience while maintaining web3 security. Built on the Oasis Network, the solution leverages confidential smart contracts to securely store user data and private keys with encryption."

Borderless.xyz, Payments Infrastructure Focused on Stablecoins and RWAs, Emerges from Stealth With $3M of Funding

Borderless.xyz has announced its emergence from stealth with $3 million pre-seed, with its blockchain network that serves as a "liquidity framework between stablecoins and local currencies around the world," according to the team. The round was led by Amity Ventures along with Michael Shaulov of Fireblocks, Jess Houlgrave of WalletConnect and Anton Katz of Talos. "Traditional fintechs and remittance methods operate in closed systems that involve multiple intermediaries. According to the team, this approach can lead to inefficiencies and drive up costs for consumers and businesses. Borderless.xyz seeks to address this issue with a blockchain-based network called Global Transfer Protocol (GTP) which serves as a unified liquidity framework and orchestration layer between stablecoins and local fiat currencies around the world," according to a press release.

Impossible Cloud Network, Aspiring to Compete With AWS, Launches Incentivized Testnet

Impossible Cloud Network (ICN), developing a decentralized cloud platform to with AWS, has launched its incentivized testnet. According to the team: "As the first Web3-based cloud platform with mass business adoption, ICN merges Web3 tech with the needs of Web2 enterprises through its provider, Impossible Cloud GmbH, which serves over 1,000 clients. ICN aims to deliver multi-service solutions that enhance decentralization, flexibility and eliminate vendor lock-in. With its Testnet, developers and community members can explore features and contribute ahead of the upcoming node sales and Mainnet release."

ExSat Network, Docking Layer for Bitcoin, Launches Mainnet

ExSat Network, described as a docking layer for Bitcoin to facilitate layer-2 networks, has launched its mainnet, according to the team: "ExSat leverages over 100GB of RAM to index the entire UTXO data in real time from Bitcoin miners. ExSat combines PoW with PoS, and opens up new revenue streams for Bitcoin miners, who can earn the XSAT token through indexing and data validation, with no pre-mining involved. The network is secured by 50 validators; 53% of the hash rate is secured by F2pool and Antpool); each stake a minimum of 100 BTC."

Protocol Village is a regular feature of The Protocol, our weekly newsletter exploring the tech behind crypto, one block at a time. Sign up here to get it in your inbox every Wednesday. Project teams can submit updates here. For previous versions of Protocol Village, please go here.

Tuesday, Oct. 22

Restaking Protocol Puffer Launches 'UniFi Devnet,' Leveraging Based Sequencing

PROTOCOL VILLAGE EXCLUSIVE: Puffer Finance, a decentralized native liquid restaking protocol, has launched its "UniFi Devnet," leveraging based sequencing to address Ethereum network fragmentation, according to the team: "With based rollups, validators handle transaction sequencing, enhancing rollup’s censorship resistance and liveness, enabling fees to flow back to the L1 through MEV burn and blob burn. By enabling synchronous composability and instant withdrawal back to Ethereum mainnet, UniFi ensures a more equitable and transparent transaction process, while enabling near-instant operations like swaps, yield farming, across L1 and L2."

Hedera to Become Exclusive Host for Prove AI Governance Solution (Formerly Casper Labs)

PROTOCOL VILLAGE EXCLUSIVE: Prove AI AG, creator of the Prove AI governance solution (formerly Casper Labs), announced it will build its flagship product exclusively on Hedera. According to the team: "Prove AI enables enterprises to responsibly and compliantly scale AI technologies by maintaining visibility into and control over the data that trains AI systems. Using Hedera’s tamper-proof, scalable infrastructure, organizations can govern access, maintain auditable data logs and automate compliance with frameworks like the EU AI Act and NIST. Hedera will also support Prove AI’s enterprise GTM effort with ongoing strategic support."

Karpatkey, Provider of On-Chain Treasury Management for DAOs, Raises $7M

Karpatkey, a provider of on-chain treasury management solutions for DAOs and financial institutions, has successfully closed a $7 million funding round, with participation from over 40 angel investors and investment funds. According to the team: "Funds from this round will allow karpatkey to expand its solutions to more DAOs, while accelerating its market outreach to traditional funds and institutions. AppWorks Ventures and Wintermute Ventures participated in this round, alongside a host of well-known angel investors, including Joe Lubin from ConsenSys."

Arithmic Network, Decentralized PoS L2 With Native Restaking, Partners With EigenLayer

Arithmic, a layer-2 network equipped with native restaking, has partnered with EigenLayer to expand layer-1/layer-2 decentralization and restaking capabilities, according to the team: "The collaboration enhances EigenLayer’s security and performance, extending its reach beyond Ethereum to L1s, L2s and shared infrastructure using Arithmic’s AVS and zero-knowledge technology. This integration aims to deliver faster transactions, high yields, and improved staking across multiple crypto assets. Both projects will drive DeFi innovation, supporting Ethereum’s scalability and decentralization."

Magic Eden to Launch on Berachain, ApeChain, Shares Vision for On-Chain Trading of All Assets in One App

Magic Eden, the NFT marketplace, announced its "new vision for the future: to be able to trade all assets, on all chains, in one app." According to the team: "Think Binance/Coinbase but fully on-chain, with $ME as the app's growth engine. As part of this vision, Magic Eden will be on at least 10 chains by the end of the year, including this week's launch on Berachain and ApeChain, empowering users to trade NFTs and tokens without the hassle of downloading multiple trading dApps and wallets for each individual chain." Co-founder and CEO Jack Lu also shared the following "growth principles:"

D3 Global, Building Domain Network, Unveils 'Ape Names' on ApeChain

D3 Global, describing itself as a "next-generation internet infrastructure company developing the first authoritative domain network," announced the availability of Ape Names on ApeChain. According to the team: "This marks the first step in building the official interoperable name service for the ApeCoin DAO community. Users can purchase and use patent-pending tokenized Ape Names as an immediate Web3 identifier. These name tokens offer a wide range of Web3 utility, including being used as memorable multi-chain wallet addresses, cross-platform Web3 usernames and decentralized infrastructure identifiers."

Autonomys in Strategic Partnership With 'Compute Tokenization' Platform Compute Labs

Autonomys, a modular blockchain that recently rebranded from Subspace, announced a strategic partnership with Compute Labs, described as "a leading compute tokenization platform building a DeFi ecosystem around cutting-edge GPU real-world assets (RWAs)." According to the team: "Compute tokenization is the process of converting computing resources into digital tokens that can be traded or utilized on-chain."

Dune Analytics Integrates NEAR for Comprehensive Access to Novel Sharding Architecture

Dune, the blockchain analytics dashboard platform, is integrating NEAR chain onto its platform for enhanced on-chain data, according to the team. Fredrik Haga, co-founder and CEO of Dune, said in a relayed message: “Dune’s integration with NEAR provides developers and analysts with comprehensive access to NEAR’s novel sharding architecture. This enables precise tracking of DeFi, NFT activity, and cross-chain transactions, offering deeper insights into one of the fastest-growing ecosystems in Web3."

Kiln, Reward-Management Platform, Integrates DePin-Focused L1 Chain peaq

Kiln, a digital-asset rewards management platform with more than $8.6 billion worth of stake under management, has joined peaq, a layer-1 blockchain for DePIN and Machine RWAs, with its own genesis node, according to the team: "Thanks to Kiln, the community will be able to stake $PEAQ via third-party exchanges and wallets like Fireblocks or Coinlist, making it a lot easier to earn rewards for contributing to peaq’s security via its PoS consensus. The integration adds peaq to the limited set of 49 blockchains currently supported by Kiln, including Ethereum, Solana and Sui."

Buenos Aires Adds ZK Proofs to City App in Bid to Boost Residents' Privacy

The city of Buenos Aires has launched a digital identity service designed to strengthen residents' privacy using zero-knowledge proofs, a type of cryptography that long predates but often bolsters cryptocurrencies. The service, QuarkID, has been integrated into miBA, the city's seven-year-old app for accessing municipal services and documents. The idea, in short, is to give 3.6 million porteños – residents of Buenos Aires – greater control over their personal information. The ZK proofs will let users show that a document has indeed been authenticated by the government without disclosing information that is irrelevant to the task at hand.

Monday, Oct. 21

ApeCoin Team, Led by NFT Project Yuga Labs, Launches ApeChain Mainnet

The teams behind ApeCoin and the Bored Ape Yacht Club NFT series said Monday that they had successfully launched their new blockchain, ApeChain, on mainnet. ApeChain is an optimistic layer-3 network built atop layer-2 project Arbitrum One, which in turn sits on Ethereum, according to the project documentation. A press release Monday stated: "The ApeCoin DAO, in partnership with Yuga Labs, Layer Zero, The Arbitrum Foundation, Horizen Labs, Caldera, Wire Network and Off Chain Labs, have launched ApeChain, a creator-centric blockchain powered by its native token ApeCoin ($APE), at ApeFest Lisbon." Michael Figge, Yuga’s chief product offficer, said in the statement that “while ApeChain has all the best tech – account abstraction with Yuga ID, gas-sponsored transactions, native yield, one-click onboarding via Ape Portal, support for Apple Pay and the first-ever use of LayerZero’s Omnichain Fungible Token (OFT) standard – frankly being fast, cheap, and technically sophisticated is just table stakes.” He said the project's real focus is "beyond just the tech," including "making delightful experiences for us all to enjoy." According to the statement, ApeChain will also benefit from Wire Network's decentralized AI capabilities, which bring dedicated block space and gasless transactions to builders on ApeChain.

Chainlink Partners With Major Financial Players to Improve Corporate Actions Data Reporting Using AI and Blockchain

Data provider Chainlink (LINK), with major financial market participants including Euroclear, Swift and Franklin Templeton, announced Monday that it started an initiative to make corporate actions data more accessible and standardized using artificial intelligence and blockchain tech. The project aims to address a long-standing challenge in the financial world: the lack of standardized and real-time data for corporate actions such as mergers, dividends and stock splits, which are notoriously fragmented in markets like Europe, Chainlink's report said.

Lava Network, Project for Blockchain RPCs, Turns on Network Revenue Switch, Starting With Cosmos Hub

Lava Network, an off-chain, peer-to-peer protocol and Cosmos SDK appchain customized for blockchain RPCs and APIs, has turned on its Network Revenue Switch, according to the team: "The revenue, distributed on the 17th of each month, is generated from blockchains that will use the Lava Network to attract high-quality infrastructure providers, starting with Cosmos Hub, featuring ATOM, followed by the opening of Stargaze and Evmos pools. Lava has several additional chains lined up, including Starknet and Filecoin.... Blockchains and rollups create incentive pools on Lava consisting of their native token. These pools attract contributors to Lava, who can serve as Validators, secure the network by staking LAVA, or provide data by running RPC nodes. RPC Providers support essential on-chain actions such as transactions, minting, staking and deploying smart contracts." It's also possible to restake to RPC providers on Lava.

Horizen Labs' zkVerify to Introduce 'Fair Randomness' to Pixel Vault's Web3 Games

Horizen Labs' zkVerify announced that it will introduce fair randomness to Pixel Vault’s Web3 games through a zero-knowledge proof (ZKP) verification layer. According to the team: "By integrating Verifiable Random Functions (VRFs), zkVerify ensures that random elements, such as card shuffles, loot boxes or event triggers, are both unpredictable and verifiable. The ZKP layer guarantees secure verification without revealing sensitive data. This matters because predictable randomness can compromise gameplay integrity; zkVerify addresses this by providing tamper-proof, verifiable outcomes that strengthen trust in game mechanics."

Sui Launches ‘Incubator’ Hub in Dubai for ‘On the Spot’ Solution Engineering

The Sui blockchain has launched a hub in Dubai which will act as an incubator for blockchain developers and entrepreneurs, one of its founding developers told CoinDesk in an interview. Kostas Chalkias, co-founder and chief cryptographer at Mysten Labs, which developed the Sui network, is originally from Greece and has moved to Dubai from California. He said his vision is to bring an army of solution engineers to Dubai. Chalkias painted a scenario where a government entity would want a blockchain based solution to a problem, and instead of spending days to create the solution, this hub would have the capacity to build the solution as a smart contract more or less on the spot. "We will be able to sit down for two hours and build the proof of concept there," Chalkias said. "No other blockchain can do a POC on the spot. This hasn't happened before." The hub is in collaboration with Ghaf Group, a blockchain firm in the region.

Unstoppable Women of Web3 and AI Releases 'Most Inspirational List'

Unstoppable Women of Web3 and AI, an organization founded in 2022 by Unstoppable Domains COO Sandy Carter and committed to fostering diverse talent in the industry, released its "Most Inspirational Women in Web3 and AI" list for 2024. Some 135 women were named, according to a post on X, announced on stage at Singularity South Africa, according to a message from the team. Winners included:

• Fei Fei Li, the Godmother of AI
• Melanie Perkins, CEO of Canva
• Mellun Yen, VC and founder of Collective Operative
• Sasha Luccioni, AI researcher at Hugging Face
• Lisa Loud, CEO of Secret Network
• Kathleen Breitman, CEO of Tezos
• Natalia Karayaneva - CEO of Propy Inc.
• Full list is here.

Chromia and Chasm Network Partner to Enhance Decentralized AI

Chromia, a layer-1 relational blockchain, has teamed up with Chasm Network, a decentralized AI platform, to ensure transparency in AI systems through blockchain technology. According to the team: "As Chasm prepares to launch its native token CAI on Oct. 24, Chromia will serve as the decentralized database layer to store and verify AI inference data using its opML Database, already deployed on Chromia's mainnet. This partnership leverages Chromia’s blockchain to create tamper-proof AI records, ensuring accessible, transparent decision-making."

Dynex, L1 Chain for Decentralized Quantum Computing, Launches Wrapped Version of Native DNX Token on Ethereum

Dynex, a layer-1 blockchain for decentralized quantum computing, powered by a decentralized GPU network has launched #0xDNX, a wrapped version of its native token DNX, on the Ethereum mainnet. According to the team: "This release is a key part of Dynex's 10-year roadmap, aimed at boosting liquidity, enhancing user accessibility and fostering new collaborations across DeFi and blockchain infrastructures. Following audits by Halborn Security and Y3TI Audits, #0xDNX is now available for trading on Uniswap. This strategic expansion further solidifies Dynex's position as a leader in quantum computing, driving broader adoption and innovation across decentralized ecosystems."

Crypto Exchange Kraken Launches Wrapped Bitcoin Token, kBTC

Crypto exchange Kraken has launched its own wrapped bitcoin token, kBTC, the company told CoinDesk in an exclusive interview. The token will be available on both Ethereum and OP Mainnet, and will be backed 1:1 with bitcoin, a company spokesperson said. The bitcoin will be custodied in Kraken Financial, the exchange's U.S. qualified custody solution, in a segregated wallet. The address of this wallet will be made public so that customers can see the bitcoin is in full reserve.

Friday, Oct. 18

Crypto Developers Propose 'Panoramic Governance' to Incentivize Participation in Layer-2 Chains

A trio of pseudonymous crypto developers proposed a new mechanism called "Panoramic Governance" to incentivize governance participation and protocol growth within layer-2 blockchains. According to the whitepaper, written by 0xCygaar, 0xBeans and 0xMons: "Panoramic Governance can be implemented on any layer-2 blockchain with a native governance token and a sequencing system where users pay gas fees for faster transaction ordering and trusted pre-confirmations. PG consists of two interdependent systems: one that distributes sequencer fees to governance voters that actively participate in the network and one that allows voters to direct token emissions to protocols built on the given blockchain. Protocols increase demand for block space, resulting in higher sequencer fees. This, in turn, boosts earnings for active governance voters, who are then motivated to allocate more emissions to successful protocols on the chain."

Drop Protocol, Liquid Staking Protocol on Neutron (in Cosmos Ecosystem), Closes $4M Seed Round

Drop Protocol, a liquid staking protocol for interchain assets, announced the close of a $4 million seed round led by CoinFund. The round was led by CoinFund, with additional backing from CMS Holdings, Anagram, Interop Ventures and Cosmostation. Notable angel investors include Vasiliy Shapovalov (Co-founder of Lido DAO), Mustafa Al-Bassam (Co-founder of Celestia Labs), and Jon Kol (CEO of Abacus Labs, a core contributor to Hyperlane). The Drop team is led by former Lido and P2P contributors, and the protocol is built as an integrated application on Neutron, which is turn built using the Cosmos SDK blockchain framework.

Opentensor Foundation Officially Makes Ethereum Compatibility Layer Available on Bittensor

The non-profit Opentensor Foundation (OTF) has officially made its Ethereum compatibility layer available on Bittensor. According to the team: Using this EVM feature, developers can now deploy smart contracts using tools like Solidity, Truffle and Metamask." The project documentation notes the following features:

• Deploy and interact with any Ethereum smart contract, without any need to change it, on the subtensor blockchain.
• Access all the standard Ethereum JSON-RPC methods from this EVM compatibility layer on Bittensor.
• When this EVM feature is turned ON, it allows the subtensor blockchain to execute Ethereum-compatible smart contracts.

Bitcoin Liquid Staking Protocol pStake Finance Unveils YBTC as 'Yield-Optimized Bitcoin Token'

PStake Finance, a bitcoin yield and liquid staking protocol, unveiled YBTC, describing it as a "yield-optimized bitcoin token on Babylon." According to the team: "YBTC gets yields through native BTC staking, restaking and liquidity farming across multiple DeFi ecosystems, and is a representation of users’ BTC deposits into pStake that is in turn staked into Babylon to earn Bitcoin Staking yields. Set to launch in mid-November, pStake will begin revealing launch partners for yield integrations, risk minimization and interoperability in the coming weeks."

GraFun Starts Labs Division to Boost Memecoin Ecosystem on BNB Chain

Memecoin launchpad GraFun today releases its GraFun Labs division, a multi party initiative to support and grow the meme ecosystem on BNB Chain. The GraFun Labs partners include trading firm DWF Labs and the Floki, BNB Chain’s largest memecoin by market capitalization. The project will help small memecoins in community growth, brand, marketing, engagement and influencer marketing.

Thursday, Oct. 17

Opacity, Aiming to Launch 'Verified Data Network' Powered by zkTLS Technology, Raises $12M

Opacity, a startup project aiming to launch a verified data network (VDN), has raised $12 million in a seed round, led by Archetype and Breyer Capital, with participation from a16z CSX. According to the team: "The VDN, powered by zkTLS, MPC architecture and economic security from EigenLayer, allows users to verify and privately share data from anywhere on the internet. Live use cases include partnerships with Nosh (DoorDash competitor onboarding new users with verified ratings and driver data) and Daisy (Influencer marketing platform verifying Tiktok activity to reward viral flyweels of engagement)."

Fuel, Rollup Project Praised by Vitalik Buterin, Launches L2 'Ignition' on Mainnet

Fuel Labs, developer of an operating system purpose-built for Ethereum rollups, announced the mainnet launch of Fuel Ignition, its flagship Ethereum layer 2. According to the team: "Ignition is designed to address a creeping centralization infecting blockchain ecosystems by delivering a new high performance architecture to Ethereum that runs on affordable consumer hardware. The Fuel architecture features parallel transaction capabilities that deliver 21,000+ Transactions Per Second (TPS) per core stemming from its novel virtual machine architecture, the FuelVM and an Unspent Transaction Output (UTXO) based asset-centric transaction model." According to the project documentation: "We embrace the UTXO model while supporting full Turing-complete smart contracts with persistent storage. We solve this problem by making stateful smart contracts an input for Fuel transactions. Contracts have persistent storage and can own native assets. Users consume contracts by using the contracts as input for transactions. Then, users can call various external functions attached to contracts via the ephemeral script attached to the transaction. [EDITOR'S NOTE: Fuel was cited a few weeks ago by Ethereum co-founder Vitalik Buterin as "one of only two stage 2 rollups today," in a post on X.]

ZkPass, Oracle Protocol for Verifiable Web Private Data, Raises $12.5M

ZkPass, an oracle protocol enabling verifiable web private data, announced a $12.5 million Series A fundraise. Investors include dao5, CE Innovation Capital, Animoca Brands, L2 Iterative Ventures (L2IV), UOB Venture Management, Flow Traders, Amber Group, Leland Ventures, IOBC Capital, Signum Capital, Bing Ventures, MH Ventures, WAGMI Ventures, Taisu Ventures, Ceras Ventures and GCR. This brings zkPass's total funding to $15M to date. According to the team: "The capital will accelerate development and adoption of zkTLS, zkPass's oracle solution designed to revolutionize secure cross-ecosystem data exchange."

Walrus Protocol, for Decentralized Data Storage, Launches Testnet on Sui, Lures Akord From Arweave

Walrus Protocol, a decentralized data storage network whose original contributor is Sui developer Mysten Labs, has launched its public testnet on Sui, "providing a management architecture for Walrus to store its global state and metadata that offers speedy consensus, composability and the opportunity to integrate storage into smart contracts," according to the team. Also, "Akord, a secure storage and collaboration platform that provides user-friendly, cost-effective, and decentralized storage solutions, will be migrating from Arweave to Walrus within the next week."

Hyve, Blockchain DA Project Secured by Symbiotic, Closes $1.85M Pre-Seed Round

Hyve, a blockchain data availability (DA) provider secured by the restaking protocol Symbiotic, has closed its $1.85 million pre-seed round, led by Lemniscap, with participation from Paper Ventures, Frachtis and others. Hyve is addressing growing demand for secure, scalable and cost-effective data availability, which has intensified following the rapid proliferation of dApps and L2 solutions. Hyve’s signature solution, HyveDA, is a fully permissionless data availability layer which offers 1 GB per second throughput from the get go, aiming to drastically increase this to 50+ GB/s as the network grows.

Conduit Launches New G2 Sequencer, Claiming Capability of 50-100 Mgas/s

On-chain computing company Conduit has launched the new G2 Sequencer, describing it as a "10x more powerful sequencer than existing versions for rollup frameworks, providing 100x the computing of Ethereum and enabling blockchain apps to run faster with no additional costs," according to the team: "Sophisticated apps like Web3 games, DeFi protocols and social apps struggle to operate on-chain due to computational limitations. G2 enables the development of complex applications, with existing frameworks. It sustains ultra-high throughput when user activity spikes, ensuring on-chain apps maintain performance and stay affordable." According to a blog post, the new sequencer is capable of 50-100 Mgas/s.

Dynex, Blockchain for Quantum Computing, Unveils Roadmap, Plans 2025 Release of Apollo Chip

Dynex, a layer-1 blockchain for decentralized quantum computing, powered by a decentralized GPU network, has unveiled what it describes as an "ambitious 10-year roadmap to transition from GPU-based quantum emulation to silicon quantum chips, aiming to capture 25% of the quantum computing market by 2034." According to the team, "The company has launched a $50 million venture capital round to attract top-tier investors. Dynex plans to release its first Apollo Silicon Quantum Chip by 2025, scaling up to 1 million qubits by 2034 to enable real-time quantum computations. Upholding ethical standards, Dynex ensures transparency and security by recording computations immutably on the blockchain, with DNX as its utility token." The project documentation states: "The company's decentralized quantum platform, combined with its silicon-based hardware solutions, represents a future-proof approach to quantum computing." The project focuses on "neuromorphic quantum computing," which "utilizes ion drifting of electrons," according to the website.

Cross-Chain Protocol Orbiter Finance Announces Launch of ZK Aggregation Layer Vizing

PROTOCOL VILLAGE EXCLUSIVE: Orbiter Finance, a cross-chain protocol, announced the launch of Vizing, a ZK aggregation layer specifically built for Ethereum rollups. According to the team: "This solution delivers significant performance improvements to zkEVM prover generation times, achieving nearly a 50% reduction through the power of GPU acceleration. In a research paper, the team outlines developed optimizations to speed up the computationally intensive phases of generating zkEVM proofs using graphics processing units (GPUs)."

Blockchain Sports Project Chiliz to Integrate Tools for Wallet, Minting, Payment

PROTOCOL VILLAGE EXCLUSIVE: Chiliz Group, the leading blockchain for sports, announced a collaboration with Crossmint, integrating its suite of wallet, minting and payment tools, becoming Crossmint’s chain for pro sports, according to the team: "Crossmint allows enterprises to build on-chain applications for mainstream users via simple APIs and no-code dashboards. Crossmint client, LDV Innovation, which works with sports properties worldwide, will also move to Chiliz Chain. Chiliz is partnered with giants such as FC Barcelona, PSG and Arsenal."

Hermetica, Creator of Bitcoin-Backed Stablecoin on Stacks, Secures $1.7M in Seed Round

Hermetica, creator of the bitcoin-backed yield-bearing stablecoin USDh, has secured $1.7 million in a seed funding round led by UTXO Management, with additional support from investors including CMS holdings, Ethos fund, according to the team. As reported in Protocol Village on Sept. 26, the project launched USDh on the Stacks layer-2 network, claiming to be first to market with the bitcoin-backed stablecoin.

Aleph Zero, Privacy Blockchain Integrated With Substrate Stack, Launches 'Shielding' on EVM Testnet

Aleph Zero, a privacy-enhancing public blockchain featuring integration with the Substrate stack, has launched "Shielding" on its EVM Testnet, enabling private DeFi transactions through client-side zero-knowledge proofs (ZKPs), according to the team: "Unlike typical server-side ZKPs, Aleph Zero’s zkOS generates proofs directly on the user's device in 0.5-3 seconds, ensuring data remains private on the user’s device. A demo lets users experience zkOS's privacy and speed firsthand. Shielding marks a step toward Aleph Zero's goal of user-centered privacy, simplifying integration for developers and balancing user confidentiality with regulatory requirements."

New Foundation 'Exponential Science' to Explore Convergence of Blockchain, AI, Quantum Computing

Academics Paolo Tasca and Nikhil Vadgama have founded Exponential Science, a non-profit foundation supported by Hedera that aims to accelerate the convergence of blockchain with AI and other emerging technologies, according to the team: "Through collaboration, Exponential Science seeks to tackle complex societal challenges and drive groundbreaking innovations. Leveraging the expertise of its founders and a team of international experts, the foundation will conduct research and develop innovative solutions, including the new MiCA Crypto Alliance."

Saakuru Labs, Memecore Announce $10M Joint Fund to Invest in Gaming Projects

Saakuru Labs and Memecore have announced the launch of a $10 million joint fund to invest in gaming projects and communities, aimed at expanding their respective ecosystems. According to the team: "This partnership will enhance decentralized applications (dApps) on Saakuru's layer-2 protocol and increase activity on Memecore’s layer-1 platform. The fund offers game developers capital, incubation, and strategic support, helping them grow and innovate in blockchain gaming. Both companies will use their expertise and networks to scale promising game studios."