According to Odaily, Coinsilium Group Limited, a Web3 investment advisor, has entered into a partnership with NFT technology developer Liteflow. The collaboration involves the signing of a Memorandum of Understanding (MoU) and aims to provide a $1 million seed project funding program for pre-selected start-ups. The primary goal of this initiative is to discover and support the next generation of leading Web3 projects, with a particular focus on top-tier DeFi, GameFi, and SocialFi applications. In addition to this, both parties plan to establish an investment committee. This committee will include vetted and pre-approved joint investors, granting Coinsilium and Liteflow preferential rights to pre-seed investment opportunities. This strategic move is expected to provide a competitive advantage in identifying and nurturing early-stage projects.

According to Odaily, PeachTech and Eastern Asset Management (Hong Kong) Limited have signed a strategic cooperation agreement to jointly promote the innovation and integration of traditional financial institutions with the Web3 digital asset world. PeachTech will provide exclusive advisory services and infrastructure to assist Eastern Asset Management (Hong Kong) in tokenizing its physical assets. These assets will be managed through the Peach Investment Fund (PIF) and Peach Investment Fund Token (PIFT).

According to Foresight News, Web3 gaming project Gala Games has entered into a partnership with Animoca Brands. As part of the agreement, Animoca Brands will receive GALA tokens from Gala Games' treasury to provide liquidity provisioning services. Animoca Brands currently operates nine Gala Founder's Nodes and plans to act as a validator for GalaChain in the future. This partnership is expected to enhance the operations of Gala Games and contribute to the growth of the Web3 gaming ecosystem.

According to Foresight News, the CEO of the Web3 Foundation, known as Fabi, has spoken out about the controversial issue of the Polkadot treasury. He clarified that the spending was not from the Web3 Foundation, but was decided by community voting for on-chain treasury expenditure. The foundation has more than five years of financial support, and will not sell any DOT. In addition, the treasury funds will continue to flow in and will never run out. The treasury should use its funds for more existing initiatives that the foundation does not cover. Some unused on-chain funds are even automatically destroyed. However, Fabi personally agrees with the overall view here. He noted that in the past few months, the on-chain treasury has spent too much on activities where the return on investment may be lower.

According to Odaily, Phantom has announced plans to upgrade the search bar functionality on the X platform. This move is aimed at providing a more streamlined user experience, reducing the need for third-party tools. Users will be able to search for any token from Phantom Explore, making the process of searching, researching, and swapping tokens more efficient. The token search feature is expected to be rolled out to all users in the coming days. This one-stop solution is expected to simplify the user experience and make the platform more user-friendly.

According to Foresight News, the decentralized Web3 oracle API3 has announced its launch on Astar zkEVM. This development allows developers to access decentralized data sources (dAPI) and the upcoming OEV network. The aim is to recapture protocol MEV generated by Oracle updates. Developers on Astar can now access decentralized data sources supported by first-party Oracle nodes. This move is expected to enhance the functionality and efficiency of the platform, providing developers with more resources and tools to optimize their work. The launch of API3 on Astar zkEVM marks a significant step in the evolution of decentralized data sources. It is anticipated that this will lead to more robust and secure applications, contributing to the overall growth and development of the decentralized web.

According to Odaily, Chromia, a Layer 1 blockchain platform, is expected to launch its mainnet in mid-July. The platform aims to simplify the construction of web3 applications by supporting its Layer 1 blockchain with a programming language similar to SQL. Chromia's main objective is to make the development of web3 applications more accessible and straightforward. By using a programming language similar to SQL, the platform allows developers to create applications on its Layer 1 blockchain with ease. The launch of the mainnet is a significant step for Chromia, marking a new phase in its development. The mainnet will provide a stable and secure environment for developers to build and deploy their web3 applications. This move is expected to attract more developers to the platform, further enhancing its growth and development.

According to Foresight News, the Shanghai Municipal Science and Technology Commission, in collaboration with the Jiefang Daily and the School of Economics at Fudan University, has released the first Web3.0 industry report titled '2024 Shanghai Web3.0 Innovation Ecosystem Construction Research Report'. The report suggests that experts should study 'Token Economics'. The report highlights that Shanghai, as an international financial center, can utilize its technological reserves and practical experience in financial technology, artificial intelligence, and cloud computing. This can help promote technological breakthroughs in Web3.0 in areas such as smart contracts, digital identity authentication, data security, and privacy protection. The report also suggests leading with industrial digitization, comprehensively digitizing and intelligentizing traditional industries, and upgrading traditional productivity to new quality productivity.

According to Foresight News, Web3 social platform and infrastructure UXLINK has released its half-year ecosystem report on the official X platform. As of June 30, a total of 112 projects have joined the UXLINK ecosystem, generating 347 million interactions with 13 million registered users. From July 1, projects participating in the UXLINK ecosystem will be able to access the SLP system fund pool. Partners and users pledging assets can participate in PoS mining, receive PRE-TGE tokens from ecosystem partners, and have the opportunity to participate in ecosystem project IDOs.

According to Foresight News, Yu Hu, the founder of Web3 AI search platform Kaito AI, announced that the company became profitable in June 2024, transitioning from a startup reliant on venture capital to a self-sustaining business. In the future, Kaito AI has plans to expand its scale by ten times within the next 18 months. The company also intends to launch a fully autonomous research assistant, with the preliminary version expected to be released this month. Kaito AI aims to improve the interface of crypto projects through its reasoning API, which is similar to OpenAI. Additionally, the company plans to launch new native applications for cryptocurrencies.

According to Odaily, digital asset ETP provider ETC Group and ETF provider HANetf are set to collaborate on the launch of the ETC Group Web 3.0 Ucits ETF. This ETF is reported to be the first of its kind in Europe, with its primary objective being to provide support for companies dedicated to promoting the expansion of Web3. The ETF is currently involved in four major areas, including NFTs and tokenization, blockchain technology, the metaverse, and big data and artificial intelligence. The collaboration between ETC Group and HANetf aims to provide a platform for these companies to continue their work in these areas, thereby contributing to the growth and development of Web3 in Europe. This initiative is a significant step in the digital asset space, as it marks the first time an ETF dedicated to Web3 has been launched in Europe. It also highlights the growing interest and investment in the Web3 space, particularly in the areas of NFTs, blockchain technology, the metaverse, and big data and AI.

According to Odaily, Baxus, a player in the Web3 wine market, has announced the launch of a blockchain-based bottled product, BAXUS: Lehman Brothers Ch. 11. The product, supported by Blinks, is a limited edition with only 500 units available for sale. Each unit is priced at $200 and will be available for exchange in the fall of 2024. In earlier news from May, Baxus announced the completion of a $5 million strategic financing round. The round was led by Multicoin Capital, with participation from Solana Ventures, Narwhal Ventures, FJ Labs, and a group of angel investors. This funding round marked a significant milestone for Baxus as it continues to innovate and expand in the Web3 wine market.

According to Odaily, Mamori, a company dedicated to enhancing Web3 security, has successfully raised $5 million in a seed funding round. The round was led by Blockchain Capital. Mamori is committed to improving the safety of Web3 by developing an algorithm capable of identifying issues in blockchain software. The company's primary focus is on the development of a unique algorithm that can detect and rectify problems within blockchain software. This is part of their broader mission to enhance the security of Web3, a decentralized internet powered by blockchain technology. The successful seed funding round, led by Blockchain Capital, has provided Mamori with the necessary financial resources to continue its work in this area. The $5 million investment will be used to further the company's research and development efforts, with the ultimate goal of improving the safety and reliability of Web3.

According to Odaily, Japan's Prime Minister, Fumio Kishida, is set to deliver a speech at the international Web3 conference 'WebX 2024'. The conference is being planned and organized by the WebX executive committee. The announcement was made by the Japan Web3 Association, which operates the Japanese Web3 media outlet CoinPost. The participation of Prime Minister Kishida in the WebX 2024 conference signifies the growing importance of Web3 technologies in Japan and globally. The Japan Web3 Association, through its media outlet CoinPost, continues to promote the understanding and adoption of Web3 technologies in Japan. Further details about the conference, including the topics that Prime Minister Kishida will address in his speech, have not been disclosed yet. The WebX 2024 conference is expected to attract a global audience interested in the future of Web3 technologies.

According to Odaily, the Aptos Foundation and Alibaba Cloud are joining forces to stimulate the development of Japan's Web3 ecosystem. This collaboration has led to the launch of Alcove, the first joint-brand Move developer community in Asia, aimed at promoting smart contract programming languages in the Asia-Pacific region. The Aptos Foundation plans to utilize Alibaba Cloud's technology to host hackathons and educational activities. This initiative is designed to support emerging Web3 talents in the Alcove community in Japan, thereby accelerating the development of Japan's on-chain ecosystem.

According to Foresight News, the Web3 sector experienced significant losses in June due to vulnerabilities, hacking attacks, and scams. The losses amounted to approximately $198.3 million, making it the second-highest monthly loss in 2024. Additionally, about $1.3 million was returned during security incidents. The breakdown of the losses reveals that exit scams accounted for about $4.8 million, flash loan losses were around $23.5 million, and losses due to vulnerability exploits were approximately $171.3 million. These figures highlight the ongoing security challenges in the Web3 sector and the need for robust security measures to mitigate such risks.

According to BlockBeats, Wormhole has announced an upgrade to its multichain experience with the launch of Wormhole Governor V2 on June 29. This new mechanism focuses on net traffic to reduce latency and support more transactions while maintaining security. The main advantages of the new mechanism include improved transfer speeds through the identification of net traffic. This allows for more transactions without increasing governance restrictions, thereby reducing risk and better protecting vulnerabilities. The Wormhole Governor V2 is a significant step in enhancing the user experience in the multichain environment. By focusing on net traffic, the new mechanism aims to streamline operations and increase efficiency. This is expected to lead to a reduction in latency, which is a common issue in multichain transactions. Moreover, the new mechanism also aims to increase the number of transactions that can be carried out without the need for additional governance restrictions. This is expected to reduce the risk associated with transactions and provide better protection against vulnerabilities. In conclusion, the launch of Wormhole Governor V2 represents a significant upgrade to the multichain experience offered by Wormhole. By focusing on net traffic and reducing latency, the new mechanism is expected to improve the efficiency of transactions and provide better protection against vulnerabilities.

According to Odaily, the Web3 social application Phaver has announced plans to launch its SOCIAL token TGE on the X platform in July. The token is reported to use the LayerZero OFT standard, enabling multi-chain operations and supporting seamless low-cost transfers between chains such as ETH and Base. Phaver has also issued a warning that the SOCIAL token is not yet available for purchase or trading anywhere, urging caution against potential fraud.

According to Odaily, Balance.game, a Web3 gaming ecosystem platform, has launched its V1.0 version and official website. The platform was created by the team behind E-PAL, a gaming companion platform established in the United States in 2020. The team has previously received investments from notable institutions and individuals. These include a16z, Galaxy Interactive, Steve Chen who is a co-founder of YouTube, Thomas who is a developer and director of 'League of Legends' (LOL), Marc who is a co-founder and CEO of Riot Games, and Michael from K5 Fund. The launch of the V1.0 version of Balance.game marks a significant step in the development of the platform, further expanding the Web3 gaming ecosystem.