Protocol Village: Starknet Claims to Shatter Transaction Speed Record Among Ethereum Layer-2 Networks

In today's edition: Starknet, Space and Time, Morph, Neo, Gaia, EigenLayer, Metis.

Wednesday, Oct. 30

Starknet Claims to Shatter Transaction Speed Record Among Ethereum Layer-2 Networks

Starknet, a ZK rollup, said Wednesday it had shattered the record for transactions per second (TPS) among Ethereum layer-2 networks. According to the team, Starknet reached "a max TPS of 127.5 over the past 24 hours. The milestone occurred during a gaming stress test, which was dubbed 'dress rehearsal for mass use via L2s.' By achieving this metric, Starknet has knocked Coinbase's layer 2 Base off the top spot, beating Base’s record 24-hour TPS of 79.92 TPS by a large margin, according to L2Beat. During the stress test, which was a joint effort of StarkWare, game development firm Cartridge and the Starknet Foundation, 11 million daily transactions were recorded. The peak TPS was 857." According to a press release: "The stress test was conducted with a game called 'flippyflop,' developed by Cartridge. The tile game saw users competing against bots to check tiles on the grid. Bots worked to undo the gamers’ work by unchecking tiles at random. As such the theme was 'human vs. machine.' The high pace of simple transactions generated during this game was designed to be the ultimate test for Starknet’s TPS."

Space and Time, Developer of ZK Coprocessor, Launches SXT Chain Testnet for Verifiable Data Delivery to Smart Contracts

Space and Time Labs, developer of a sub-second zero-knowledge coprocessor and blockchain indexer, has launched its SXT Chain testnet — "a blockchain using zero-knowledge (ZK) proofs for verifiable data delivery to smart contracts." According to the team: "With ZK-proven data access, developers can tackle smart contracts' challenge of secure, large-scale data handling. The testnet enables data-heavy applications, like on-chain credit scoring, using SQL interfaces with ZK verification. Integrations with Chainlink and ZKsync ensure scalability, cost-efficiency and cross-chain interoperability, accelerating Web3’s next wave." A blog post by co-founder and CTO Scott Dykstra is here.

Leading Bitcoin Layer 2 Picks Optimism's Red-Hot Superchain to Link to Ethereum

Ethereum layer-2 Optimism's "Superchain" has added a Bitcoin-native project to its ecosystem for the first time, CoinDesk is first to report. BOB, a Bitcoin layer-2 project looking to expand development on the world's oldest blockchain, has integrated with the Superchain ecosystem, built on Optimism’s OP Stack framework. The team is awaiting final approval of a pending grant from the Optimism Foundation of 500,000 OP tokens, worth about $870,000 at the current price, project officials told CoinDesk.

Chainlink Unveils 'Chainlink Runtime Environment,' Aiming for Better Blockchain Workflows

HONG KONG – Chainlink on Wednesday unveiled Chainlink Runtime Environment (CRE), designed for developers to create custom applications across multiple blockchains. The new offering was unveiled during Chainlink's Smartcon, a side event to Hong Kong Fintech Week. On stage, Chainlink co-founder Sergey Nazarov said he hoped history would view CRE as important for bringing traditional finance (TradFi) to Web3 as Cobol — a legacy programming language developed in the late 1950s — was for initially automating finance and the Java Runtime Environment was for bringing finance to the internet in the 1990s.

Neo Blockchain Announces 'Neo X Grind Hackathon' With >$22M in Prizes

Neo, describing itself as an "open-source, community-driven blockchain platform," announced the launch of the Neo X Grind Hackathon, co-hosted with IOSG Kickstarter, Web3Labs, Foresight Ventures and Bitget. According to the team: "The competition, hosted on Neo’s EVM-compatible sidechain Neo X, offers over $22 million in prizes and grants to Web3 innovators. The hackathon aims to discover and empower talented developers, helping them create the next generation of projects on Neo X."

Gaia, Decentralized Computing Infrastructure for Creating AI Agents, Integrates With EigenLayer

Gaia, a decentralized, open-source AI agent developer tool, has partnered with the restaking protocol EigenLayer to enhance decentralized AI security and scalability. According to the team: "This collaboration integrates Gaia’s AI services with EigenLayer’s Active Validator Services (AVS), which will validate AI activities, ensuring accurate model updates and proper execution." A description in a press release reads:

At the core of this partnership is the integration of Gaia’s AI agents with EigenLayer’s AVS validators, which will monitor and validate the activity of Gaia nodes. The validation mechanism will include tasks such as:

Morph, 'Consumer Layer for Driving Blockchain Adoption,' Launches Mainnet on Ethereum

Morph, a global consumer layer for driving blockchain adoption, announced its mainnet launch on Ethereum. According to the team: "Morph’s consumer layer directly addresses the root causes of limited blockchain adoption, enabling ecosystem participants to exchange real assets and engage in transactions."

Privacy Blockchain Project Nillion Raises $25M to Expand 'Blind Computing'

Privacy-focused blockchain project Nillion has raised $25 million in a funding round led by Hack VC and including backing from angel investors and strategic contributors from projects including Arbitrum, Worldcoin and Sei. Nillion builds its service around the concept of "blind computing," the processing of data without having to reveal its contents, which allows for the creation of an ecosystem of applications co-operating without having to reveal sensitive information.

Nil Foundation Launches Testnet v1 Following Successful Devnet Launch in July

Nil Foundation, the team behind Nil, an Ethereum layer-2 network powered by zkSharding, announced the launch of Testnet v1. According to the team: "Following the successful Devnet launch in July, Testnet v1 is a key milestone on the =nil; product roadmap. This release includes several protocol upgrades, DevEx improvements, and concrete examples for how to use the network, including porting and integrating Uniswap V2 code to show how DEXs can work in sharded environments." Developers can get involved with Testnet directly by joining this Telegram group: https://t.me/NilDevnetTokenBot.

Félix Partners With Zero Hash to Expand Borderless Remittances

PROTOCOL VILLAGE EXCLUSIVE: Félix, a chat-based platform that enables Latinos in the U.S. to send money abroad, has partnered with Zero Hash – an API-first turnkey regulatory infrastructure to launch crypto products quickly – to expand borderless remittances, according to the team: "The partnership enables Felix to leverage Zero Hash's regulated crypto infrastructure to provide simplified cross-border payments to 60M+ US-based Latinos who send $150B annually to families abroad. Felix integrates with WhatsApp and uses stablecoins for 24/7 near real-time transfers. Zero Hash handles the technical backend, converting USD to USDC and facilitating instant global transfers. Felix has grown 500x in payment volume, raised $15.5M Series A funding in May 2024, and maintains a 90 NPS score, double the industry average."

Ethereum L2 Metis Launches $250K Accelerator Program

Metis, an Ethereum layer-2 network, is launching a $250,000 accelerator program, offering a tiered grant structure that rewards initial traction and sustained growth for start-up projects. According to the team: "The program will initially launch with five grants of $25,000 each, progressing to three follow-up grants of the same amount. The highest performing project will receive the final grant of $50,000 Projects must demonstrate tangible progress through metrics like wallet creation, transaction volumes and daily active users."

AI Data Collection Startup Sapien Raises $10.5M Seed Funding Led by Variant

Sapien, a startup that incentivizes people to supply all sorts of data for use in AI, has raised $10.5 million in seed funding led by VC firm Variant, with participation from Primitive Ventures, Animoca, Yield Game Guild and HF0. "The Sapien team, led by Rowan Stone, the former co-creator of Coinbase’s layer 2 network Base, and Trevor Koverko, founder of Polymath and author of RWA standard ERC1400, are incentivizing a growing army of data providers — which can be anything from people labeling everyday items or traffic signs with a mobile device, to pinpointing particular types of cancer cells — with either USDC stablecoin or a system of reward points," according to a message to Protocol Village.

Venn Network Aims to Solve DeFi's Hacking Problem With More Decentralized Tech

Can decentralized finance (DeFi) address its hacking problem with another layer of decentralized tech? Israeli cybersecurity firm Ironblocks' new network is betting on it. On Wednesday, the firm is beginning a phased roll-out of a new Web3 security layer it's developing, called Venn. The transaction pre-screening network seeks to create "a new economy" for crypto security, said creator Or Dadosh, also Ironblocks' CEO.

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. 29

Alchemy, Blockchain Developer Platform, Gets First Bitcoin-Focused Project With Rootstock Integration

Alchemy, a blockchain developer platform, will be supporting Bitcoin for the first time ever with its integration of the Rootstock sidechain. According to the team: "Alchemy joins over 150 other integrated dApps as a part of the Rootstock ecosystem bringing additional options for EVM-centric developers looking to create and innovate on Bitcoin."

KRNL Labs Raises $1.7M in Pre-Seed Funding to Build the 'Largest Open, Multichain Software Registry in Web3'

KRNL Labs, developer of an orchestration and verification protocol that seamlessly integrates permissionless, composable functions across multiple blockchain networks into smart contracts, has raised $1.7 million in pre-seed funding. According to the team, the project aims "to build the largest open, multichain software registry in Web3. The company is developing a solution similar to Node Package Manager for blockchain, enabling cross-chain communication and library sharing. KRNL's protocol allows for asynchronous composability across different execution environments, facilitating the creation of cross-chain applications. Founded by Tahir Mahmood and Asim Ahmad, KRNL Labs aims to address Web3 fragmentation and integration inefficiencies."

AI-to-Web3 Blockchain Warden Launches 'Chiado' Testnet

Warden Protocol, a layer-1 blockchain bringing AI to Web3 with logic contained in Cosmos SDK modules, has launched Chiado, a new testnet advancing towards mainnet. According to the team: "Building on the success of their Buenavista testnet — which saw nearly 1 million weekly transactions and over 1 million wallets —Chiado introduces advanced features like omnichain interoperability, dual VM support (EVM and CosmWasm), enshrined price feed oracles, and EVM wallet compatibility. It supports AI integration at the consensus level and RWA readiness for mainnet.

Nomic DAO Foundation Launches Nomic's Babylon Bitcoin Staking Smart Contract on Ethereum

The Nomic DAO Foundation today announced the launch of Nomic’s Babylon Bitcoin Staking Smart Contract on Ethereum, "introducing a trust-minimized, decentralized custody solution for Bitcoin staking with Babylon," according to the team: "By leveraging Nomic’s decentralized custody engine, Bitcoin holders and protocols can now stake their BTC on Ethereum via Babylon’s Bitcoin Staking protocol without relying on centralized custodians. Among the first will be Bedrock’s uniBTC, one of the leading Babylon Bitcoin liquid staking tokens (LST) with over 2,000 BTC staked."

Stacks, Prominent Bitcoin Layer-2 Project, Activates Long-Awaited 'Nakamoto' Upgrade

Stacks, a layer-2 blockchain project atop Bitcoin, confirmed on Tuesday the activation of its Nakamoto upgrade, designed to make transactions faster. The project's official account on X posted that "Stacks transactions once confirmed are now at least as irreversible as Bitcoin's," and that there is a "significant reduction in transaction times." The upgrade also will provide a "technical foundation for sBTC launching later this year," according to the post. Stacks, co-founded by Muneeb Ali, a Princeton-educated computer scientist who also serves as CEO of the Bitcoin-focused development firm Trust Machines, is seen as one of the oldest and most credible efforts building layer-2 networks atop the Bitcoin blockchain – no small claim given that more than 80 such projects have sprung up over the past couple years.

Consensys Cuts 20% Workforce, Blames SEC’s ‘Abuse Of Power’

Consensys, one of the main supporters of the Ethereum network, is laying off 20% of its workforce, blaming broader macroeconomic conditions and ongoing regulatory uncertainty, including the Securities and Exchange Commission’s (SEC) “abuse of power” in the space. “Multiple cases with the SEC, including ours, represent meaningful jobs and productive investment lost due to the SEC’s abuse of power and Congress’s inability to rectify the problem,” founder and CEO Joe Lubin said in a blog post. “Such attacks from the US government will end up costing many companies… many millions of dollars.”

Solayer Launches sUSD as 'First Yield-Bearing Restaking Stablecoin Secured by RWAs'

Solayer, a restaking marketplace on the Solana blockchain, has publicly launched sUSD (Solayer USD), describing it as "the first yield-bearing restaking stablecoin secured by Real-World Assets." According to the team: "It is not only pegged to the U.S. dollar and backed by the U.S. Treasury Bills, but also features a restaking functionality on Solana. 'Anyone with $5 can mint and redeem instantly and earn RWA yield,' said Rachel Chu, Solayer contributor. Through restaking, sUSD holders can help secure decentralized systems (exo AVSs) that require proof-of-stake mechanisms beyond Solana. Yield-bearing and staking nature of sUSD provide more security than volatile digital assets."

Aethir Partnership Aims to Integrate H200 Tensor Core GPUs Into Decentralized Computing System

Aethir, a distributed network to aggregate enterprise-grade GPU chips to supply on-demand compute resources for AI and gaming, has partnered with GAIB, the economic layer for the future of AI and compute, and GMI Cloud, an AI and AGI-focused cloud service provider, to integrate state-of-the-art H200 Tensor Core GPUs into its decentralized computing ecosystem. According to the team: "This marks the first production-ready deployment of H200 GPUs in Web3, providing unprecedented access to high-performance computing technology for enterprises and developers. Aethir, GAIB, and GMI Cloud will equip enterprise clients with the most powerful computing power required to handle demanding GPU tasks, including LLM training and AI inference.

Ava Labs, Blockticity Partner on New International Standard for Certificate of Authenticity

Ava Labs, developer of the Avalanche blockchain,and Blockticity are partnering on a new international standard for Certificate of Authenticity (COA) verification using blockchain technology addressing the $25 trillion global cargo trade, according to the team: "The partnership aims to modernize global supply chain security and transparency by providing a tamper-evident method to authenticate goods and commodities. Blockticity is working with ASTM Digital Information in the Supply Chain Committee F49 on new standards for deforestation, solar panels, and battery tracking through the global supply chain."

Lisk, L2 for Emerging Markets, Partners With Soccersm, Decentralized Prediction Market

Lisk, an L2 for emerging markets, has partnered with Soccersm, a decentralized AI prediction markets platform. Soccersm will deploy its AI-assisted prediction markets on the Lisk protocol under a beta program alongside a beta launch of some of its newest features, with plans for a full mainnet launch by the early Q1 2025. Lisk is the first project from the Optimism Superchain to introduce a prediction market on its protocol. With over 65,000 users already on its platform, Soccersm is set to leverage Lisk's technology and expand its reach within the thriving Optimism Superchain ecosystem.

University of Oregon's Distopia Lab Turns to Theta EdgeCloud for AI Research, Model Training

The University of Oregon's Distopia Lab has begun using Theta EdgeCloud for AI research and model training, according to the team: "This collaboration marks Theta's first U.S. academic partnership, following successful engagements with top South Korean universities. Led by Professor Suyash Gupta, the lab focuses on distributed systems, blockchain and federated learning. Theta EdgeCloud offers over 80 PetaFLOPS of distributed GPU compute power, enabling faster and more cost-effective AI research. This partnership enhances the lab's capacity to tackle complex challenges and compete with commercial AI labs."

Mantle Launches Liquid Restaking Token 'cmETH'

Mantle, a rollup with Ethereum validators and modular architecture, launched its liquid restaking token, cmETH. It's a "permissionless and composable LRT," according to the team: "Building on mETH’s seismic success, cmETH offers multiple yield sources — ETH PoS validation (provided via the underlying mETH); restaking protocols (EigenLayer, Symbiotic, Karak, etc.); COOK season rewards; other technology partner rewards; L2 dApps and protocol Integrations and, coming soon, Actively Validated Services (AVS). Concurrently, the governance token for mETH/cmETH, COOK, will make its debut with 5 billion tokens at its TGE. It will be listed on several leading CEXs, including Bybit and MEXC."

Wormhole to Provide Interoperability for Deep Blue Stablecoin

Wormhole, a blockchain interoperability project, announced it has been selected by Deep Blue, a newly launched stablecoin issuance platform, as a core interoperability provider for their 1:1 USD-backed stablecoin, DBUSD. According to the team: "Wormhole NTT (native token transfers) will be leveraged to cut liquidity fragmentation by preserving the intrinsic properties of tokens on different chains. This will make Deep Blue’s cross-border payments, remittances and trading services more efficient. Integrating with Wormhole expands access to DBUSD, helping Deep Blue further their mission of enhancing global financial inclusion through blockchain technology."

Chainlink CCIP Powers Lido's New 'Direct Staking' Rails

Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is powering Lido’s new Direct Staking rails that enable users to stake their ETH directly from other blockchain networks and receive wstETH, starting with support for Arbitrum, Base and Optimism. According to the team: "The peripheral smart contract leverages CCIP’s Programmable Token Transfer functionality to abstract away the process of a user transferring and staking ETH on Ethereum, increasing the accessibility and liquidity of wstETH across the multi-chain economy."

Zyfi Launches $100K Gas Grant on ZKsync Era Mainnet

Zyfi has launched a $100,000 Gas Grant on the ZKsync Era mainnet for dapp developers to enhance user experiences through Paymasters and Account Abstraction, according to the team: "Already integrated by SyncSwap, PancakeSwap and Koi Finance, Zyfi’s gasless transaction API simplifies on-chain activity. The grant is available to DApps meeting specific usage criteria, supporting ZKsync as a hub for secure, scalable blockchain solutions. Zyfi also operates on other ZK chains, aiming to increase accessibility in the digital asset space."

Mode AIFi Accelerator Selects 9 AI-Driven DeFi Projects to Advance Autonomous Finance

Mode’s AIFi Accelerator has selected nine projects to support in advancing AI-driven solutions in DeFi, according to the team: "The selected teams include Talus Network, building on-chain agent infrastructure; Intentify, creating an autonomous agent operating system; Almanak, a DeFi agent training platform; and Amplifi, focused on cross-chain asset management. Other projects are QuillAI, developing security agents; FortyTwo, generating UIs for DeFi protocols; Inference Labs, enabling zk-verification; Aizel, working on TEE-enabled verifiable AI; and Cerbo AI, offering mobile-based no-code model training."

Xandeum, Scalable Data Storage Layer for Solana, Launches Token, Liquid Staking Program

Xandeum, describing itself as a "scalable storage layer for Solana," is poised to launch its XAND token, along with an "innovative storage-enabled liquid staking program aimed at solving the blockchain storage trilemma," according to the team: "The XAND token will empower holders with governance rights over the Xandeum DAO, which oversees both the scalable storage layer and the liquid staking solution, making XAND one of the most utility-rich tokens on Solana. The launch, supported by major exchanges like Raydium and MEXC, includes an airdrop of 60 million tokens to eligible users, kickstarting community engagement in the project."

Naptha AI, Platform to Orchestrate Multiple AI Agents, Raises $6M

Naptha AI, a platform to orchestrate multiple AI agents to optimize performance and drive innovation, announced a $6 million pre-seed raise, co-led by Arche Capital and Cyber Fund. According to the team: "This pre-seed raise is substantial for an initial fundraise of outside capital, positioning Naptha AI at the forefront of the next evolution of artificial intelligence." A press release stated: "By allowing agents to work together, Naptha AI is building the infrastructure for the Internet of Intelligence, where distributed networks of AI can drive efficiencies across industries."

Monday, Oct. 28

Arbitrum Foundation Biggest Investor in Crypto Deals <$5M, Stratos Report Shows

The crypto VC firm Stratos published a new report, "State of Crypto Venture Q3 2024." The data for the report was pulled from Token Terminal and Artemis. Here are some key takeaways, according to the team:

• "Out of almost 3K funds and angels investing in crypto since 2023, less than 25 have proven their ability to invest at scale in winners. This means the crypto industry should consolidate and get smaller.
• Crypto venture firms in aggregate will likely underperform holding BTC by a wide margin.
• Of the ~$88B deployed into crypto venture, half of that was invested in the top 4 categories: Finance ($12.6B), Web3 ($12.5B), DeFi ($10.2B), and Gaming ($7.6B).
• On an FDMC basis, the protocol layer takes the cake, representing $245B of $439B aggregate."

Astria, Project to Decentralize Crucial Blockchain 'Sequencers,' Goes Live With Main Network

Astria, a blockchain project describing itself as the "first decentralized shared sequencing layer," has launched the main network for its alpha release. The project is among those aiming to decentralize blockchain "sequencers" – the component of a layer-2 network that compiles transactions happening on the secondary network, in order to record them on a main layer-1 blockchain, like Ethereum. Astria's sequencing layer could be used like a modular plug-in for other networks, as an alternative to a centralized sequencer – sometimes seen as a bottleneck, or a single point of failure, or potentially a vector of transaction censorship.

Craftt, Decentralized Benefits Platform for Freelancers, Raises $2M

Craftt, a decentralized benefits platform for independent workers, has raised $2 million in seed funding with backing from Superscrypt and DCG. According to the team: "While benefits like healthcare, earnings support and rewards are traditionally reserved for full-time employees, Craftt’s blockchain-based approach helps independent workers like freelancers, consultants and creators, who make up over 50% of the global workforce, access those same benefits. The funds will accelerate Craftt’s platform growth, expanding its ecosystem and partnerships to meet the needs of a rapidly evolving labor market." Craftt Pass is now in public beta, and the project recently integrated with World’s World ID. Craftt will "further develop the platform towards a Layer-2 infrastructure, expand its ecosystem partnerships, and allow Craftt Pass users to unlock even more benefits, opportunities, earnings and rewards," according to a post.

Lido DAO Votes to Approve Release of Community Staking Module on Ethereum Mainnet

The Lido DAO has voted to approve the release and activation of the Community Staking Module (CSM) on Ethereum Mainnet. According to the team: "Initially, CSM will be available to Early Adoption participants, with plans to become fully permissionless in the near future. CSM offers a new opportunity for independent stakers by lowering the bond requirement to just 2.4 ETH (or 1.5 ETH for Early Adoption participants)." What is the CSM? Here is the definition, from the project documentation: "Community Staking Module (CSM) is a permissionless staking module aimed at attracting community stakers to participate in Lido on Ethereum protocol as Node Operators. The only requirement to join CSM as a Node Operator is to be able to run validators (according to the Lido on Ethereum policies) and supply a bond." According to the team: "This launch aligns with Vitalik Buterin's vision for more solo stakers, strengthening Ethereum’s security and decentralization."

Nuffle, OpenGradient to Enable 'Trust-Minimized AI Integration Across Blockchain Networks'

Nuffle Labs, a project for modular blockchain infrastructure run by former core contributors to NEAR Protocol and developers on Ethereum, is working with OpenGradient to "enable secure, trust-minimized AI integration across blockchain networks," according to the team: "Currently, blockchain ecosystems' reliance on off-chain AI computation compromises security and verifiability. Nuffle's Fast Finality Layer enables quick cross-chain transactions for real-time AI processing, expanding possibilities for AI-driven applications across different ecosystems. This advancement allows developers to enhance dApps with on-chain AI processing for real-time analytics and decision-making capabilities."

Prediction Market Kalshi to Supply Price Data for Crypto Oracle Stork

Kalshi, a U.S.-regulated, centralized prediction market platform and late entrant to this year's election betting boom, is building further ties with the cryptocurrency industry. The company has agreed to supply price feeds to Stork Labs' network of oracle services that send data from the outside world to blockchains and decentralized exchanges. Initially, the companies, both based in New York, expect Stork's "data consumers" to incorporate Kalshi's feeds into perpetual futures, a type of derivative contract that has no expiration date.

Quantix Capital, Web3 Investment Fund and Incubator, to Invest $1M in Tezos Asia Support Org

Quantix Capital, a Web3 investment fund and startup incubator, is investing $1 million in a new partnership with TZ APAC, an organization supporting Asia-based development of Tezos, to accelerate blockchain gaming on Tezos. According to the team: "Beyond financial support, the investment includes mentorship from senior leaders at both Quantix and TZ APAC to help developers grow impactful projects. With a strong focus on community engagement and innovative gameplay experiences, the collaboration aims to empower creators with the resources and strategic guidance needed to drive long-term growth in the blockchain gaming space."

Mantle, Behind the Ethereum L2 Network, Deploys Agora's AUSD Stablecoin

Mantle, describing itself as the "on-chain hub behind liquid staking derivative mETH and modular Ethereum layer-2 blockchain Mantle Network," has announced the deployment of Agora’s AUSD stablecoin on its platform. According to the team: "The next-gen stablecoin, fully backed by cash, U.S. Treasury bills and overnight repo agreements, will tap into tremendous on-chain liquidity support from Mantle in initial phases." A blog post states:

The introduction of AUSD marks a significant milestone for Mantle as we continue to build a hub for financial and consumer on-chain applications. AUSD is set to power a wide array of applications within Mantle ecosystem, including DeFi protocols and gaming platforms. At launch, AUSD will be available on Merchant Moe, one of Mantle's decentralized exchanges (DEXs), with liquidity pairs against native assets such as $mETH, $cmETH, $FBTC, and more. This deep liquidity ensures that users can seamlessly interact with AUSD from day one.

M^0, Mezo to 'Rebuild Stablecoins Within the Bitcoin Ecosystem'

Money middleware protocol M^0 and Bitcoin economy layer Mezo have "partnered to rebuild stablecoins within the Bitcoin ecosystem, aiming to democratize DeFi yield opportunities," according to the team: "Mezo becomes an M^0 Earner after M^0’s governance approved a proposal to establish $M as a core BitcoinFi asset. Developed by Bitcoin venture studio Thesis*, Mezo and M^0 aim to expand Bitcoin's role in global finance. This integration unlocks new DeFi mechanisms, offering seamless conversion of idle assets into yield-generating $M, supporting M^0's vision of a decentralized financial system."

BlockFills Unveils On-Ramp Service for Enterprise Payment Companies, FinTech Firms

BlockFills, a digital assets technology and trading firm for institutions and professional traders, announced the broad launch of a new service aimed at helping enterprise payments companies and FinTechs securely, efficiently process transactions between crypto and fiat. According to the team: "BlockFills unveiled the new market expansion at Money20/20. The new service is available via BlockFills’ APIs, through its proprietary web-based trading platform (Vision) and over the counter (OTC)."

Friday, Oct. 25

Lisa Neigut's Base58 Gets First-Ever Bitcoin Grant From Donor-Advised Fund, Via UI Charitable on Recommendation of Donor Through Partnership With Unchained

UI Charitable, a manager of donor-advised funds (DAFs), has distributed the first grant from a DAF sent directly in bitcoin to a nonprofit organization. According to a press release, "The grant was sent to Base58 School of Engineering (EIN: 93-4881116), a charity dedicated to educating software engineers about the bitcoin protocol." Base58 is a nonprofit led by Bitcoin Core and Lightning engineer Lisa Neigut. "This grant will be used this fall as a scholarship fund for five software engineers who want to learn the basics of programming bitcoin," according to the release. "This grant came at the recommendation of one of our valued donors through our partnerships with Sound Advisory and Unchained, where we provide collaborative custody solutions for bitcoin Donor-Advised Funds. Through multisig vaults, donors can contribute, hold, and distribute bitcoin without needing to convert it to and from U.S. dollars at any point in the process. This is the first DAF solution to enable contributions, custody, and giving entirely in bitcoin."

Tether-Backed Initiative 'Plan B' Unveils Satoshi Nakamoto Statue in Lugano, Switzerland

"Plan B, an initiative founded in collaboration with Tether and the City of Lugano to promote the use of Bitcoin and blockchain technology, on Friday hosted blockchain industry leaders, government officials and Bitcoin enthusiasts to unveil a life-sized statue of Satoshi Nakamoto at the Third Annual Plan B Forum in Lugano. In front of Lugano’s Villa Ciani, the presentation of the Satoshi Nakamoto statue marked a significant moment in honoring the vision and legacy of the anonymous creator of Bitcoin," according to a press release: "The statue was created by Valentina Picozzi, who was inspired by the idea of capturing both the mystery and the enduring legacy of Satoshi Nakamoto."

Gnosis Chain Ecosystem to Get New $40M Venture Fund for Early-Stage Projects

GnosisDAO, the community behind the EVM-compatible layer-1 network Gnosis Chain, has approved a proposal to finance a new $40 million GnosisVC Ecosystem Venture Fund. According to the team: "Under this proposal, GnosisDAO will invest $20 million into the Fund, with the remaining $20 million being raised by external limited partners. With a focus on RWAs, decentralized infrastructure and financial payment rails as target verticals, the fund will deploy into early-stage projects in line with Gnosis 3.0, which aims to bridge the gap between blockchain technology and practical, high-quality applications for the masses."

Data-Focused Chain Flare Launches 'Blockchain Machine Images' for Node Deployment in 'Click of a Button'

Flare, a layer-1 EVM-compatible smart-contract blockchain designed to handle data, has launched Blockchain Machine Images, in partnership with Google Cloud Marketplace. According to the team: "Blockchain Machine Images is a service that significantly accelerates the deployment of blockchain nodes – from hours to minutes. This collaboration leverages Google Cloud's infrastructure to provide developers with a streamlined way to launch full blockchain nodes for over 20 networks, including Flare's own mainnets and testnets." Here's the upshot, from a press release:

Nodes can be deployed and updated in a click of a button, allowing new node versions to be rapidly launched. It relieves developers from the burden of patching and maintaining nodes, and from needing to run a node for each blockchain they wish to query. It also frees developers to shift more focus on to core competencies. For businesses, Blockchain Machine Images offers cost-effective solutions which allow companies to run nodes without relying on external services or requiring them to maintain their own infrastructure.

Pyth, Blockchain Oracle, Announces 'Crypto Redemption Rate Feeds' to Source Values Directly From Smart Contracts

Contributors to Pyth, a blockchain oracle project, announced the launch of Crypto Redemption Rate Feeds. According to the team: "It marks the unlocking of two new and popular asset classes: liquid restaking tokens and yield-bearing stablecoins." A blog post explained: "Crypto Redemption Rates provide the exact value at which a crypto asset can be redeemed, sourced directly from its underlying smart contract. Unlike traditional price feeds that aggregate market prices from several sources, these feeds capture the programmatically defined exchange rate set by the asset's protocol. This design is especially important for assets like liquid staking derivatives or interest-bearing tokens, whose values change based on internal mechanisms like accumulated rewards or interest accruals." Redemption Rate Feeds are initially set to include Ondo Finance's USDY, StakeStone's STONE, Ethena Labs' sUSDe, Mountain Protocol's wUSDM and Crypto.com's CDCETH, according to the post.

Thursday, Oct. 24

Arbitrum Developer Unveils 'Fast Withdrawals,' Cutting Finality to 15 Minutes From 7 Days

Offchain Labs, the initial developer of Arbitrum, the biggest Ethereum layer-2 network, announced "Fast Withdrawals" – described as "a new feature allowing select Orbit chains and RaaS providers to achieve withdrawal finality in under 15 minutes, compared to the usual wait time of up to seven days." According to the team: "Implementing Fast Withdrawals cuts withdrawal times by over 90%, making the process extremely similar to withdrawing funds from a bank account. Although it is not identical, it represents a substantial improvement over the traditional blockchain standard, bringing it much closer to the experience of conventional TradFi funds transfer." According to a press release, "Orbit chains that plan future support for the new feature include Apechain, Cheese, Nova, Sanko, Xai and others. RaaS providers include Offchain Labs, Alchemy, Altlayer, Ankr, Caldera, Conduit, and Gelato." Here's how it works, according to the press release:

To streamline the process, Fast Withdrawals on Orbit chains have their transactions processed by a committee of validators. Transactions with a unanimous vote across the committee will have their state transition immediately confirmed. This allows Orbit chains and user withdrawals to achieve a fast confirmation frequency within fifteen minutes. Fast Withdrawals enhance cross-chain communication by allowing cross-chain applications to read the finalized state up to the fast confirmation frequency. Previously, optimistic rollups had to sustain a multi-day challenge period to allow time for fraud proofs, making this launch a big upgrade over prior existing models.

SenseiNode, Provider of Institutional-Grade Staking as a Service, Achieves SOC 2 Type II Compliance

SenseiNode, a provider of institutional-grade staking as a service in Latin America, announced that it has achieved SOC 2 Type II Compliance. According to the team: "This certification, conducted by Decrypt Compliance, validates the company's robust security controls and processes, ensuring they meet the criteria set forth by the AICPA." Key areas covered include: 1) Access control 2) Incident response 3) Vendor management 4) System resilience. “This achievement reflects our dedication to safeguarding sensitive information with the highest standards,” says Pablo Larguia, CEO of SenseiNode.

Hana Network Raises $4M in Builder Round From SushiSwap, Alliance, Orange DAO

Hana Network, a startup developing Hypercasual Finance with social network effects, has raised $4 million in a builder round from builders such as SushiSwap, Alliance and Orange DAO. The valuation of this round have not been disclosed. According to a press release: "Hana was founded last year by Kohei Hanasaka. The team has been tackling onboarding experience challenges for quite a while and launched Hana Gateway, trustless on/off ramp, in January 2024. Leveraging the insights gained from Hana Gateway, they are presently focused on developing Hypercasual Finance, which emphasizes user-driven distribution with existing open social networks." According to the release: "The mainnet will be divided into four major phases. They have already achieved a successful launch of Mainnet Phase 1 with the hyper-casual card Lego game Hanafuda, where users can earn rewards while playing. New experiences will be gradually introduced from Phase 2 to Phase 4."

DeFi Protocol Synthetix V3 Expands to Arbitrum

DeFi protocol Synthetix V3 is expanding to Arbitrum, "representing a big step in its push to go multi-chain," according to the team: "With this launch, Synthetix is set to deliver high-performance perpetuals trading to Arbitrum users, building upon its proven success on Optimism and Base, where it has facilitated over $50 billion in trading volume. Kwenta, the leading perpetuals marketplace, has teamed up with Synthetix to spearhead the launch of Synthetix V3 on Arbitrum."

Decentralized AI Model-Training Platform FLock.io Partners With Aptos Foundation for Coding in Move

FLock.io, a decentralized AI model-training platform, has "partnered with the Aptos Foundation to elevate the capability of large language models (LLMs) in generating accurate code for the Move programming language on the Aptos network," according to the team: "The initial version of FLock.io’s Aptos Move-tuned LLM demonstrated superior performance in testing compared to ChatGPT-4o – from simple "Hello World" scripts to more complex programs such as yield tokenization with AMM trading functionality. Additionally, the FLock model exhibited greater accuracy and adherence to Aptos-specific requirements.

Raise, Retail Alliance Foundation Launch Support Network to Help Bring Gift Cards On-Chain

Raise, a payments provider focused on gift cards, announced that a non-profit coalition called the Retail Alliance Foundation has launched, "committed to reshaping the future of a transparent and equitable gift card and loyalty economy." In partnership with BFG Labs, a wholly owned subsidiary of Raise, the foundation will launch and govern the Retail Alliance Network, which aims to bring the multi-trillion-dollar gift card industry on-chain. According to the team: "The network offers brands greater control, security and transparency over their gift cards by using blockchain to combat fraud, cut costs and improve operations. This marks a key moment where blockchain addresses legacy inefficiencies, unlocking new growth and engagement opportunities."

Domain Network D3 Global Partners With Identity Digital to Tokenize Domains

D3 Global, a next-gen internet infrastructure company developing the first authoritative domain network, on Wednesday announced a strategic registry partnership with Identity Digital, a leader in connecting the online world with domain names and related technologies. The partnership aims to tokenize new domains for billions of users on the Domain Name System (DNS) to deliver interoperability Web2 and Web3. D3 is also launching two new programs to expand the ecosystem, the D3 Developer Program and the D3 Proof of Ownership Protocol Program, which will support efforts to bridge Web2 and Web3 systems."

BitGPT, Project From Former SingularityNET Co-Founders, to Unveil AI Platform at Binance Conference

BitGPT will be unveiling its groundbreaking AI platform to onboard the next billion users to Web3, in an announcement at this year's Binance Blockchain Conference. According to the team: "Developed by the co-founders of SingularityNET, the first to merge Web3 and AI in 2017, BitGPT is the world’s first AI network for Web3, placing AI agents directly into user’s pockets. By translating user needs into Web3 transactions – regardless of language or literacy – BitGPT simplifies complex wallet operations into a single prompt and interface, bridging Generative AI with Web3's onboarding challenges."

Variational, Protocol for Leveraged P2P Trading of Customizable Crypto Derivatives, Raises $10.3M

Variational, a protocol enabling leveraged peer-to-peer trading for customizable crypto derivatives, announced Wednesday it has secured $10.3 million in seed funding. The round was co-led by Bain Capital Crypto and Peak XV Partners (FKA Sequoia India) with support from Coinbase Ventures, Dragonfly Capital, North Island Ventures, HackVC, Brevan Howard, and many other VCs, angel investors, and industry leaders.

Uniswap Labs Collaborates With Across to Lay Groundwork for Crosschain Swaps

Uniswap Labs has integrated Across's intent-based bridging to enable secure, fast transfers of ETH, stablecoins and WBTC across nine chains – all within the Uniswap app. According to the team: "Doing so, Uniswap Labs and Across are laying the groundwork for any-asset to any-asset swapping. The upcoming ERC-7683 standard, co-authored by Uniswap Labs and Across, will further help unify the Ethereum ecosystem by standardizing how cross-chain interactions are expressed as Intents."

Mantra, L1 Chain for Tokenized RWAs, Launches Mainnet

Mantra, an institutional-grade layer 1 blockchain for tokenized real-world assets (RWAs), announced the official launch of its mainnet. According to the team: "As a purpose-built layer-1 blockchain specifically designed to integrate traditional finance with blockchain technology, the Mantra Chain mainnet aims to quickly become the preferred ledger of record for RWAs. The Mantra Chain mainnet consists of a customizable suite of tools that is built with reliable network security and regulatory compliance at heart."

Stokr, EU-Based Digital-Asset Marketplace, Raises €7.4M ($8M)

Stokr, a digital-asset marketplace in the EU, has raised €7.4M ($8 million) in a funding round led by Fulgur Ventures, with a significant portion earmarked to establish one of Europe’s first corporate Bitcoin treasuries. According to the team: "Stokr also plans to expand its tokenized Bitcoin asset offerings on layer-2 technologies like the Liquid Network and transition to a regulated Crypto Asset Service Provider under MiCA."

Sygnum Bank Opens New Office in Lugano, Plans 'Bitcoin Competence Centre'

Sygnum Bank announced the launch of its new office in Lugano, Switzerland. According to the team: "The office will be a hub for expert Bitcoin banking solutions and improve physical interactions between Sygnum and its local clients and partners. Sygnum will also launch the first global Bitcoin Competence Centre. This strategic initiative, timed with the prestigious Plan B Forum event, focuses on research alongside strategic partnerships, innovative product and technology development, and active community engagement."

Rocketon Labs Raises $1.2M for Firecoin, 'Flagship AI-Powered Token Insights Platform'

Rocketon Labs has raised $1.2 million for Firecoin, its flagship AI-powered token insights platform on The Open Network (TON). According to the team: "With over 3 million users and recognized as the 'CoinGecko for TON, on steroids,' Firecoin democratizes access to crypto trading, empowering everyday users with essential tools for informed decisions. The funding will enable further development and expansion of the platform."

BlockFills, Institutional Crypto Trading and Tech Firm, Hires Amy Shelly as CFO

BlockFills, a digital-asset technology and trading firm for institutions and professional traders, has appointed Amy Shelly as chief financial officer (CFO). According to the team: "The firm is preparing to launch international offices, expand the BlockFills product offering and position itself for major growth in the institutional digital assets space. Shelly has 30+ years of financial services management experience, including six years as CFO for the Options Clearing Corporation (OCC), the world's largest equity derivatives clearing organization. A licensed CPA, Shelly has garnered numerous recognitions." Separately, founding partner Neil Van Huis was promoted to chief strategy officer.

GOAT Network Launches 'Founders Club' for Collaborators, Says Testnet Live for Builders, Developers

GOAT Network announced the launch of Founders Club, a program designed to empower individuals and teams to contribute to the development and growth of GOAT Network. According to the team: "Founders will have the opportunity to participate in key tracks, collaborate on projects and become valued members of the GOAT ecosystem. Members can choose between three distinct tracks tailored to different stages of project development, from ideation to adoption. In addition, GOAT Network's testnet is now live for builders and developers."