🎉 Vlayer has just secured $10.00M in its latest funding round! 🎉
🔹About: Vlayer focusing on decentralized data infrastructure. The platform leverages zero-knowledge proofs to enable trustless, verifiable data exchanges, integrating both on-chain and off-chain data. Vlayer aims to enhance Ethereum's functionality and privacy by introducing innovative features like Time Travel, Teleport, zkTLS (Web Proofs), and zkEmail. The project has raised $10 million in funding from notable venture capital firms, including a16z crypto CSX, Credo Ventures, and Blocktower VC. Headquartered in Warsaw, Poland, Vlayer is committed to revolutionizing data interaction within smart contracts, making it more secure and efficient. 🚀🌐
🔹 Lead Investors: a16z, Blocktower Capital, Credo Ventures, Aayush Gupta, Peter Hoand and many more.
🔹 Total Raised: $10.00M.
🔹 Project Category: Blockchain Service.
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GRAND CAYMAN, Cayman Islands, January 30th, 2024, Chainwire

In the past four months, Sui TVL has jumped by more than 1000%, vaulting the network past Base, Cardano, and Bitcoin in its meteoric DeFi rise

Sui, a leading Layer 1 blockchain that was created by the team that led Meta’s Diem crypto project, continued its blistering DeFi growth, surpassing $430M in Total Value Locked (TVL) and moving into the top 10 blockchains by that metric. Alongside this torrid ascent of TVL, on-chain activity has exploded as well. Weekly DeFi volume is up more than 1200% since October demonstrating the growth in demand that will drive a sustained flywheel effect that supports the future expansion of the entire Sui DeFi ecosystem.   

“Less than a year since the launch of its mainnet, the growth of the Sui DeFi ecosystem has been nothing short of remarkable. This momentum validates both the technology and dedication of the Sui community,” said Greg Siourounis, Managing Director of the Sui Foundation. “Most importantly, what we are seeing in these numbers is developers on Sui building products that people are using to address real-world challenges. That dynamic will form the basis of a sustainable decentralized network that lasts well into the future.”  

Because of its object-centric model and horizontal scaling, Sui is uniquely performant, scalable, and secure. As a result, Sui is particularly well-suited to host solutions that can operate at scale. Sui’s fast-rising TVL is a direct result of multiple Sui-based protocols and applications leveraging the strengths of Sui to grow at an extremely rapid rate. 

Based on the strengths of its technology as well as the top builders and developers that have begun leveraging its platform, Sui is quickly amassing a complete set of ecosystem applications offering seamless composability. From liquid staking to decentralized exchanges (DEXs), to top lending protocols, and the additions of DePIN and DeWi to the network, Sui boasts a technology stack that exceeds Layer 1 blockchains that have been around for years longer. 

Sui is now home to four protocols at over $50M TVL and nine protocols at over $10M, showcasing the depth of the ecosystem where multiple projects are flourishing. The Lending protocol Scallop Lend tops the list with $96M TVL, followed by Navi Protocol at over $91M. The top five is rounded out with three decentralized exchanges (DEXes), Cetus, Aftermath Finance, and FlowX Finance.

Most recently, Sui announced that Banxa, a leading payments infrastructure provider for the crypto-compatible economy, will add the SUI token to its platform. The integration will increase access to the Sui blockchain for users around the world, thanks to a suite of Banxa’s global and local payment methods, which have processed over $3 billion in transactions since its launch in 2014. Additionally, Mysten Labs’ Sui Wallet will provide users the opportunity to purchase SUI tokens through Banxa’s fiat on-ramp solution and once fully integrated, to utilize its off-ramp solution. 

Sui also recently announced a partnership with Oracle Stork to provide builders with faster pricing data, offering real-time pricing data across Sui’s ecosystem of developers, DEXs, and lending protocols building on Sui’s blockchain. This integration will enhance speed and access to unique index and mark prices for builders and users of DeFi applications on Sui.

Contact

Sui Foundationmedia@sui.io

The post Sui Blasts into DeFi Top 10 as TVL Surges Above $430M appeared first on BitcoinWorld.

According to CryptoPotato, Wintermute, a prominent market maker and liquidity provider, experienced significant growth in all business verticals in 2023, despite the market downturn. The platform reported that its over-the-counter (OTC) volume increased by over 400% throughout the year as volumes moved off-exchanges. In the first half of 2023, Wintermute's OTC trading volume slumped, even though the number of individual trades remained stable. However, this changed in the second half of the year as the number of unique trades increased sixfold to 29 million, and the platform's weekly OTC volume reached $2 billion.

Wintermute's OTC volumes grew fourfold in the second half of 2023 as the markets gained momentum. The platform saw a more than sixfold increase in the number of trades, totaling over 29 million, and recorded its highest OTC volume week, exceeding $2 billion during this period. This represents a significant rise of over 20% in the trading of distinct assets compared to the first half of 2023. The OTC trading volumes for Layer 1 assets followed the general trend of Wintermute's overall OTC volumes, declining by approximately half between the second half of 2022 and the first half of 2023 before experiencing a remarkable 350% surge in the second half of 2023. Within the Layer 1 ecosystem, the Ethereum Ecosystem dominated, accounting for a 68% market share of volumes traded through its OTC desk. Solana, Avalanche, Cardano, and Polkadot Ecosystems made up the top 5 Layer 1 platforms in terms of volumes during the second half of 2023.

Layer 2 platforms exhibited approximately 30 times less trading activity compared to Layer 1s, with Polygon, Arbitrum, and Optimism Ecosystems leading in proportion. Wintermute noted consistent activity and growth in Layer 2s, registering a substantial 160% growth from the second half of 2022 to the second half of 2023. In the DeFi category, Wintermute reported a sevenfold growth in nominal volumes from the second half of 2022 to the second half of 2023, although the market share dropped from 16% to 11%. Yield Farming assets were the most traded within the DeFi category, followed by Oracles, Lending, and DEX tokens. The dominance of Yield Farming assets remained strong throughout the year, maintaining around 35% of DeFi volumes. Over the same period, notional volumes traded increased over ninefold. Oracle assets rebounded strongly after experiencing a slight drop in both volumes, representing 26% of all traded DeFi category volumes in the second half of 2023. DEX assets also experienced a significant decrease in DeFi market share during the same period but saw more than a 3.4x increase in notional volumes traded. Lending-related assets gained an additional 10 percentage points in market share from the first half to the second half of 2023, growing from 13% to 23%.

In a significant development for the blockchain industry, Flare, a layer-1 network renowned for its focus on data and smart contract protocols, has completed a private funding round, raising $35 million. 

The round saw participation from notable investors including Kenetic and Aves Lair, underscoring the growing interest and confidence in Flare’s potential to revolutionize the decentralized finance (DeFi) landscape.

Strengthening the ecosystem with investments and Liquidity measures

The funding round is part of Flare’s ongoing efforts to enhance its ecosystem and expand its capabilities in supporting the creation of smart contract protocols, especially in the realm of pricing oracles. These oracles are critical in relaying asset prices to and from various DeFi applications, ensuring accurate and timely information is available for users and protocols alike.

In addition to securing fresh investment, The network has taken significant steps to ensure the stability and health of its token economy. Early investors in the project have shown their long-term commitment by voluntarily agreeing to extend the distribution of tokens from the initially planned 2024 to the first quarter of 2026. Furthermore, a selling limit of 0.5% of the token’s total daily volume has been implemented to mitigate market sell pressure, promoting a more stable and sustainable growth trajectory for the Flare network.

Flare’s commitment to ecosystem development and health

The announcement also highlighted Flare’s proactive approach to managing its token supply. In October, the network disclosed plans to burn 66 million tokens monthly until January 2026, amounting to 2% of the total token supply. The decision was made to improve ecosystem development and ensure the overall health of the Flare network, reflecting the team’s dedication to creating a robust and thriving blockchain environment.

Flare’s strategic moves, including the recent funding round and liquidity measures, have garnered attention and support from the broader blockchain community. Notably, Google Cloud’s decision to join the network as a validator last month resulted in a 5% increase in Flare’s native token (FLR), indicating positive market response to the network’s growth and development efforts.

The network’s visibility and appeal were further boosted by BitMEX founder Arthur Hayes’s bullish comments on Flare in a recent blog post. Hayes emphasized the increasing importance of on-chain oracles in decentralized exchanges, particularly for price settlement and liquidation processes, highlighting the network’s critical role in the evolving landscape. Following these remarks and the announcement of the funding round, FLR experienced a notable increase, rising by more than 13% on Friday and an additional 3.05% after that.

Looking forward: Flare’s path to innovation and growth

As the network continues to navigate the complex and ever-evolving blockchain ecosystem, the successful funding round and strategic liquidity measures signify a strong foundation for future growth. With the support of its investors, community, and strategic partners like Google Cloud, Flare is well-positioned to advance its mission of enhancing the DeFi space through innovative smart contract protocols and pricing oracles.

The network’s commitment to ecosystem development and its forward-thinking approach to token management and liquidity sets a positive precedent for other projects in the blockchain domain. As Flare moves forward, the industry will watch closely to see how the layer-1 network leverages its recent successes to drive further innovation and establish a more decentralized, efficient, and user-friendly blockchain ecosystem.

Conclusion

Flare’s successful $35 million funding round, coupled with strategic initiatives to extend token distribution and implement a selling limit, marks a significant milestone in its quest to strengthen and expand its layer-1 blockchain ecosystem. With the backing of notable investors like Kenetic and Aves Lair, and the endorsement from industry luminaries such as Arthur Hayes, Flare is poised for growth.

The network’s focus on developing smart contract protocols and pricing oracles addresses key challenges in the DeFi space, offering promising solutions for accurate and reliable asset pricing. As Flare continues to innovate and evolve, its efforts to enhance ecosystem health and development are setting a robust foundation for the future, showcasing its potential to be a leading force in the blockchain industry.