Multi-chain decentralized exchange (DEX) Sushi has announced the launch of Sushi Labs, a development partner tasked with leading new product development, executing Sushi’s ecosystem strategy, and exploring solutions to enhance Sushi’s offerings.

According to the roadmap outlined by Sushi Labs, the key projects under development include Sushi’s swap and aggregation engine, as well as the route processor, which aims to offer users the best swaps by accessing liquidity across various sources. Additionally, there is a multi-token product suite in the works designed to introduce a multi-token strategy to distribute product costs, maximize rewards, and tap into high-growth verticals.

Other projects include the development of an on-chain order book ETH-based perpetuals DEX called Susa and the creation of franchised or native DEXs like Wara on Solana and Saru on ApeChain, aimed at enhancing market presence and liquidity. Furthermore, Sushi Labs is exploring the potential launch of a dedicated Sushi network or appchain.

However, Sushi DEX will continue to serve as the central platform, prioritizing the provision of liquidity and trading services.

Sushi Launches On Rootstock, Introducing Bitcoin’s Security And Decentralization Features To Users

Sushi stands out as a prominent multi-chain DEX operating across more than 30 blockchains. It provides a distinctive cross-chain swap functionality, known as SushiXSwap, facilitating effortless swaps across 14 different blockchains. Through Sushi, users can engage in swapping and liquidity provision and utilize advanced trading and decentralized finance (DeFi) services.

SushiSwap functions similarly to a traditional exchange, enabling users to trade various cryptocurrency assets among themselves. However, SushiSwap operates through smart contracts instead of a centralized entity. Users deposit their cryptocurrencies into the protocol, where they are securely locked and made accessible for trading by other traders.

In February, Sushi unveiled its latest addition, the decentralized derivatives exchange Susa developed on Layer N. Utilizing Layer N’s Nord engine, the exchange boasts a remarkable capacity, processing over 100,000 transactions per second while maintaining a latency of under 1 millisecond.

Recently, Sushi went live on the EVM-compatible Bitcoin sidechain Rootstock. This integration enables Sushi users to engage in trading activities and provide liquidity on Rootstock, benefiting from the security and decentralization features inherent in Bitcoin.

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Decentralized data Oracle network API3 revealed that its Oracle Stack is now accessible on Injective inEVM, offering developers an option to tap into more than 180 decentralized data sources (dAPI) on the API3 Market. Additionally, it facilitates access to the upcoming OEV network, designed to reclaim the protocol MEV generated by Oracle updates.

inEVM represents an Ethereum Virtual Machine (EVM) designed to achieve composability across various major networks, encompassing Cosmos, Solana, Injective, and Ethereum. This platform provides robust cross-chain interoperability, enabling Ethereum developers to smoothly incorporate their protocols into diverse ecosystems. Additionally, it offers rapid transaction finality and includes builders modules for enhanced functionality.

Decentralized applications (dApps) now have the ability to access verifiable and decentralized data maintained on-chain, eliminating the requirement to manage any infrastructure.

Builders interested in leveraging dAPIs on Injective inEVM have the option to explore the API3 Market, which represents a convenient platform to browse, access, and handle diverse data feeds. These feeds cover a range of assets such as cryptocurrencies, forex, equities, and commodities, providing a comprehensive resource for builders.

Additionally, as the OEV network prepares for launch, protocols leveraging API3’s decentralized data feeds on Injective inEVM will gain a vertically integrated solution to recapture MEV. Meanwhile, DApps will have the ability to seamlessly access any data feed available on the API3 Market, activate the OEV Network, and begin earning rewards.

API3's Oracle Stack is now available on @injective inEVM!

Builders can now leverage:

▲ +180 decentralized data feeds (dAPIs) on the API3 Market
▲ OEV Network to recapture protocol MEV (launching soon!)

Start building today! pic.twitter.com/Rgz6ChOyUa

— API3 (@API3DAO) June 11, 2024

API3 Introduces wBETH To ETH Exchange Rate On Its API3 Market 

API3 operates as a decentralized data oracle network, streamlining the integration of APIs with blockchain applications and eliminating the need for third-party intermediaries. Its primary goal is to bolster data reliability and security for smart contracts and dApps by furnishing them with top-tier, real-time data.

Recently, API3 has introduced a wBETH to ETH Exchange Rate on its API3 Market, facilitating developers in creating on-chain products across a diverse range of 33 blockchains.

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Decentralized data infrastructure layer, Covalent revealed that Arthur Hayes, Co-Founder of BitMEX and Chief Investment Officer of Maelstrom, has joined as its strategic advisor. This collaboration is focused on safeguarding the historical data of Ethereum, ensuring accessibility and transparency for the ecosystem’s complete history.

Covalent has dedicated its efforts to building a resilient data infrastructure aimed at enhancing data accessibility and fueling blockchain since 2019. As the pioneering solution to introduce long-term data availability (DA), it aims to ensure that all blockchain data remains verifiable and accessible continuously.

“From day one, Covalent has been committed to preserving Ethereum’s data history and maintaining its integrity,” said Ganesh Swami, CEO & Co-Founder of Covalent. “Now, with his extensive background, Arthur Hayes’ passions and radical vision are aligned with our relentlessness to grow and excel, positioning Covalent as the leading Ethereum-based data infrastructure for AI,” he added.

Ethereum’s data is inherently decentralized, but its lack of verifiable structuring can pose challenges in terms of cost, efficiency, and suitability for AI training and inference. The Ethereum Wayback Machine (EWM) guarantees that all Ethereum and Ethereum Virtual Machine (EVM) rollup data will shape AI with a preformat and verifiably secure pipeline. This pipeline enables AI developers and users to access onchain history, potentially unlocking new technological advancements while addressing concerns surrounding AI safety. Notably, certain blockchain data, such as blobs, are only accessible for a limited period before permanent deletion, making the EWM essential as the gateway to preserving permanent Ethereum data.

“Long-term data availability is crucial to securing a decentralized future with the uncertainty around AI,” said Arthur Hayes, Chief Investment Officer of Maelstrom. “The EWM positions Ethereum for AI with a new level of security and transparency. I’m thrilled to be part of the Covalent team and play my part in building the best data infrastructure that will ultimately fuel scalability and true decentralization,” he added.

As an influential figure in the blockchain space, Arthur Hayes aims to enhance AI security through Ethereum. His objective aligns closely with Covalent’s mission, which focuses on utilizing EWM to facilitate safe AI with quality structured data, eliminating the dependence on centralized intermediaries. These efforts are geared towards empowering functions like automated financial management.

Covalent’s EWM Expands Support To Accommodate New AI Applications In Web3

Covalent offers data infrastructure solutions for the decentralized ecosystem, addressing the challenge of long-term DA for Ethereum. With Covalent’s CQT token staking recently returning to Ethereum, the network is set to advance further towards the EWM, signaling that AI applications now have unrestricted access to onchain data from over 225 blockchains.

Recently, Covalent’s EWM expanded its support to accommodate new AI applications in Web3 using its structured dataset. Moreover, Covalent has introduced the GoldRush Decoder, an advanced tool that converts raw log events into structured data, and unveiled the Go SDK, which improves access to blockchain data with the efficiency of the Go programming language. 

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Exciting news that Apple presented at WWDC 2024, “Apple Intelligence,” incorporates new generative AI models straight into the fundamental operating systems of Apple products. With this step, Apple is leading the AI sector and giving people access to incredible possibilities, all while maintaining the company’s unshakable commitment to privacy.

With the use of generative AI and huge language models, Apple intellect gives its products previously unheard-of levels of intellect, understanding, and creative expression.

Photo: Apple

The CEO of Apple, Tim Cook, declared that the company was excited to begin a new era in invention and that Apple Intelligence will change both what customers could do with and for their devices. He said that their special method delivered genuinely useful intelligence by fusing generative AI with the individual context of the user.

The Implementation of Intelligent Writing Assistance

The innovative Writing Tools that Apple Intelligence offers are among its most impressive features. These capabilities, which are deeply ingrained in the operating systems, enable users to edit, proofread, and summarize text in almost any application, including third-party programs such as Mail and Notes.

Photo: Apple

The Rewrite function enables users to experiment with different wordings and tones to make sure their work is understood by the target audience. With the use of sophisticated natural language processing, Proofread carefully examines grammar, word choice, and sentence structure and offers intelligent recommendations to improve written communication.

Photo: Apple

Condensing long texts into brief, readable summaries that fit the user’s preferences—whether it be a paragraph, a table, or bullet points is a great productivity enhancer. These features go beyond standard writing apps; they may be easily integrated with alerts, email inboxes, and even audio recordings that have been transcribed.

Apple Using Generative Images to Release Creativity

Not only can Apple Intelligence improve writing, but it also opens up new creative possibilities for images. With just a description, users of the specialized app and integrated experience Image Playground may create interesting graphics. Users are presented with an endless canvas of options, regardless of whether they are going for an animated, drawn, or sketched look.

Photo: Apple

But the enchantment doesn’t end there. With “Genmoji,” Apple has unveiled an original take on emojis that lets users create custom emoji responses for any situation or dialogue. Even more, these Genmoji may be designed to seem like friends or family, adding a unique touch to online communications.

Photo: Apple

Apple Intelligence enhances the Photos app’s search function, allowing users to find particular events or subjects by only describing them. With its ability to detect and remove distracting background components while maintaining the integrity of the subject, the Clean Up tool elevates picture editing to a whole new level.

Furthermore, Apple Intelligence uses user comments to generate customized films that revitalize treasured experiences. It generates a narrative with chapters and an appropriate segment of music by analyzing photos, videos, and locations.

How Apple Is Reimagining Siri

With improved English comprehension, Siri develops into a more organic, contextually aware personal assistant that can expedite and streamline routine operations.

Beyond voice requests, Siri’s enhanced powers allow users to type or smoothly transition between text and audio engagements. Siri is introduced with a stunning new visual style that includes a beautiful ring of light around the screen.

Photo: Apple

However, Siri’s increased awareness and intelligence are what really make her magical. Today, users may ask Siri for help with almost any function or option on their smartphone, and she will respond with personalized, step-by-step instructions. Whether adding an address from a message to a contact card or carrying out operations across several apps, onscreen awareness enables Siri to comprehend and respond to the information shown.\

Photo: Apple

Apple’s Guiding Principle is Privacy

Apple Intelligence unlocks previously unheard-of possibilities, yet privacy is fundamental to the system’s architecture. A lot of AI models operate alone on the smartphone, protecting and preserving user data locally.

With “Private Cloud Compute,” Apple has created a game-changing technology that extends device security and privacy safeguards into cloud storage for intricate tasks needing a lot of computing power. This method offers a crypto guarantee that user information is never kept or made public by utilizing Apple servers.

Surprisingly, impartial specialists are able to examine the code that runs on these servers, confirming Apple’s privacy assertions and establishing a new benchmark for open, reliable AI.

Using ChatGPT’s Experience

Apple has worked with OpenAI to strategically incorporate ChatGPT’s capabilities throughout its platforms. Now, when needed, Siri may access ChatGPT’s extensive knowledge library and, with permission, give answers to users directly.

Photo: Apple

Moreover, ChatGPT will seamlessly interact with Apple’s Writing Tools, enabling users to express themselves through written content and AI-generated graphics. As part of the continued commitment to privacy, OpenAI is not permitted to keep user requests, and IP addresses are kept private.

New API Tools for Developers

Not only does Apple Intelligence benefit end users, but it also gives developers the ability to incorporate these innovative features into their programs. Users may generate attractive, relevant pictures within apps using the Image Playground API, and rewriting, proofreading, and summarizing functions can be seamlessly integrated with the Writing Tools API.

Standard UI frameworks accept emojis, making adoption simple. Additionally, Siri can better comprehend app actions and content thanks to the new App Intents architecture, which promotes discoverability and seamless integration.

Why Elon Musk is Furious?

Elon Musk has issued a stark ultimatum, threatening to eliminate Apple products from his companies if OpenAI is integrated into Apple’s operating system. As the co-founder of six pioneering businesses, including SpaceX, Tesla, and OpenAI, Musk argued that such deep integration with OpenAI would pose an unacceptable security risk. In a dramatic measure to protect against electromagnetic fields, Musk has also instructed visitors to his enterprises to leave their Apple devices outside and place them in a Faraday cage.

It’s patently absurd that Apple isn’t smart enough to make their own AI, yet is somehow capable of ensuring that OpenAI will protect your security & privacy!

Apple has no clue what’s actually going on once they hand your data over to OpenAI. They’re selling you down the river.

— Elon Musk (@elonmusk) June 10, 2024

Musk asserted that although Apple lacks the intelligence to create artificial intelligence on its own, it can guarantee that OpenAI would safeguard customers’ privacy and security.

pic.twitter.com/7OgZAAdPf6

— Elon Musk (@elonmusk) June 10, 2024

Musk is suing OpenAI and Sam Altman for allegedly undermining the company’s initial objective of creating an open-source AI that would “benefit humanity” in favor of increasing profits. Musk has been skeptical of OpenAI. OpenAI has announced that it plans to reject all of Elon’s assertions. The case brings to light the continuing legal dispute between OpenAI and Apple about the possible effects of artificial intelligence on user security and privacy.

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Layer 2 Ethereum scaling solution Polygon opened its Community Grant Program for developer applications today.

According to the announcement, for the initial season of the program, 35 million MATIC are designated, while 100 million POL are anticipated to be made available annually. Utilizing funds from the Community Treasury, the Community Grants Program will facilitate grantmaking activities. Grants will be disbursed in MATIC and will be supervised by the Community Treasury Board.

The application period for this season will conclude on August 31st. The allocated funds vary from 5,000 to more than 50,000 MATIC. Projects will undergo monthly reviews and selections, while payouts will commence on the first day of each month.

To qualify, participating projects are required to either be developed on Polygon or to express a willingness to migrate to the Polygon network. Additionally, they should showcase their commitment to long-term growth. Prospective participants are advised to submit their applications promptly. A four-week turnaround time is expected for grant allocation.

The program will feature two sections. The general one is open to any individual developing on Polygon and emphasizes builder tools, protocol infrastructure, as well as various types of decentralized applications (dApps). The consumer cryptocurrency section is geared towards projects involving gamified commerce, decentralized social platforms, intersections between AI and blockchain technology, non-fungible tokens (NFTs), among other related areas.

Polygon Unveils Polygon Miden Alpha Testnet V2 With Enhanced Features For Developers 

Polygon, formerly known as Matic Network, is a prominent project among Ethereum scaling solutions, offering a platform designed to improve blockchain scalability. At its core, the Polygon SDK facilitates various applications, such as rollup blockchains and tailored standalone blockchains. 

By leveraging the Plasma Framework and Proof-of-Stake (PoS) consensus mechanism, Polygon enhances Ethereum’s capabilities, transforming it into a secure multichain system endorsed by prominent industry players.

Recently, Polygon has unveiled the Polygon Miden Alpha Testnet v2, incorporating multiple new features designed to improve the developer experience.

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Top five memecoins, which make up approximately 77% of the total market value of meme tokens, have experienced a significant decline in value. According to CoinMarketCap data, Dogecoin (DOGE) has decreased by 2.54%, Shiba Inu (SHIB) has dropped by over 4.55%, Pepe (PEPE) has fallen by 2.20%, Dogwifhat (WIF) has seen a decline of 1.52%, and FLOKI has decreased by more than 8.18% in the past 24 hours.

The decline is linked to the tendency of memecoins to follow stock market movements. Specifically, the controversial GameStop (GME) stock price ended the United States trading session on Monday down 12% after a 40% drop on Friday and the GME memecoin has fallen by over 17% in the last 24 hours, leading other memcoins downwards along the way.

The stock has exhibited significant volatility since late May, coinciding with the apparent return of retail trader and GME advocate Keith Gill, known by his alias “The Roaring Kitty.” Keith Gill was a central figure in the stock’s short-squeeze rally in 2021.

Furthermore, memecoins have mirrored the overall decline in cryptocurrency prices today, which sparked bearish concerns among global market participants. BTC experienced a notable drop, reaching as low as $67K, while ETH also saw a substantial decline, falling below $3,600. The global cryptocurrency market capitalization has decreased by 3.52%, now totaling $2.44 trillion. Meanwhile, the overall cryptocurrency market volume has seen a significant increase of 48.81% from the previous day, reaching $82.47 billion, according to CoinMarketCap data.

BTC And ETH Prices Witness Declines 

As of the writing time, BTC is trading at $66,791, experiencing a decline by 3.85% in the past 24 hours. Its low and high are $66,763 and $70,146, respectively, according to data from CoinMarketCap. Bitcoin‘s performance is mirroring the cautious sentiment in equity markets ahead of the United States Consumer Price Index (CPI) report and an upcoming Federal Reserve meeting this week.

United States stock futures edged lower ahead of the latest CPI inflation report and the upcoming June FOMC meeting. Dow Jones Industrial Average futures decreased by 0.38%, while S&P 500 futures fell by 0.23% in pre-market trading. Simultaneously, major European and UK equity indices were in negative territory. In London, the FTSE 100 experienced a mid-day decline of 60.90 points, bringing it to 8,167.58. Furthermore, investors expect limited maneuverability from the United States Federal Reserve, as higher-than-anticipated May payrolls have dampened expectations for the central bank’s first rate cut in September.

The price of ETH has also dropped by 4.16% in the past 24 hours, currently trading at $3,524. Its 24-hour low and high are $3,509 and $3,711, respectively, according to data from CoinMarketCap.

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As we move further into 2024, new crypto projects emerge, each offering unique innovations and capturing the interest of investors and enthusiasts alike. To help you navigate this terrain, we have prepared a top-three list of the most promising new crypto projects that are poised to make a significant impact in 2024. These ventures stand out not only for their innovative concepts and technological advancements but also for their potential to reshape the industry and drive future growth. Join us as we delve into these and explore what makes them worthy of your watchlist. 

PlayDoge ($PLAY)

PlayDoge is a fresh entrant in the crypto space that merges the playful Doge meme with a Tamagotchi-inspired play-to-earn (P2E) mobile game. Launched in March 2024, the project swiftly captured significant interest, raising over $2.7 million during its presale phase.

The game’s core revolves around caring for virtual Doge pets, reminiscent of the 90s Tamagotchi craze. Players feed, train, and entertain their pets while navigating classic 8-bit side-scrolling adventures. This nostalgic approach appeals to retro gaming enthusiasts and introduces a modern twist by integrating cryptocurrency earnings.

Players can earn $PLAY tokens through diligent pet care and excelling in various mini-games. The game incentivizes continuous engagement, as neglected pets can either run away or die, halting the player’s earnings. To further enhance the gaming experience, PlayDoge features a leaderboard system that rewards top players with additional $PLAY tokens and special prizes.

The tokenomics of PlayDoge are designed to support its ecosystem robustly. The total supply of $PLAY tokens is set at 9.4 billion, with 50% allocated to the presale, 12.5% for marketing, and 7.5% earmarked for community rewards. The project also offers high annual percentage yields (APY) for staking $PLAY tokens, currently around 700%.

PlayDoge’s development is structured into several phases. Initial efforts focused on contract audits and marketing, followed by app development and token launches on decentralized exchanges. Future phases include extensive marketing campaigns, app testing, and the full launch of mini-games, culminating in broader exchange listings and community airdrops.

To participate, users connect a DeFi wallet like MetaMask or Trust Wallet and can purchase $PLAY tokens using BNB, ETH, or USDT. The project’s staking options, available on the BNB Chain, provide lucrative returns, enhancing its appeal to potential investors.

Leveraging the widespread popularity of the Doge meme and the nostalgic appeal of Tamagotchis, PlayDoge has built a significant following. Its engaging P2E model and attractive staking rewards position it well to sustain user interest and expand its community.

PlayDoge (PLAY) has raised over $2.5 million in the first 10 days of its presale, with the current token price at $0.00504. This rapid fundraising translates to about $250,000 per day from investors. The presale’s success reflects a strong interest in PlayDoge, a “Tamagotchi x Doge” hybrid that blends nostalgic virtual pet gameplay with crypto earnings.

Analysts predict potential gains for PLAY, citing its innovative P2E (Play-to-Earn) model and retro appeal. Oscar Ramos and Matthew Perry foresee long-term price appreciation.

YouTubers like Crypto Gains and 99Bitcoins have highlighted the opportunities for early investors.

The project plans to use the raised funds to provide liquidity, marketing, app development, and staking rewards. Multiple exchange listings are targeted for later this year, which could also impact token value.

Despite the optimism from analysts, potential investors should consider the inherent risks and volatility of the cryptocurrency market. The success of PlayDoge will depend on maintaining its current momentum and effectively executing its development and marketing strategies.

Taiko (TAIKO)

Taiko (TAIKO) is positioned as a noteworthy project within the cryptocurrency landscape, characterized by its Ethereum-equivalent (Type 1) ZK-EVM, designed for maximum compatibility with Ethereum. Utilizing a based roll-up system, Taiko ensures transaction sequencing is handled by Ethereum validators, promoting simplicity and inheriting Ethereum’s liveness and credible neutrality.

The project has raised $41 million in funding, including $37 million from investors such as Sequoia China, Generative Ventures, and OKX Ventures, indicating strong financial backing.

Taiko operates as a fully permissionless and decentralized layer-2 (L2) solution, deriving its security from Ethereum and operating without centralized sequencers or verifiers. This approach aims to enhance security and decentralization within the blockchain ecosystem.

The project’s advantages include alignment with the current ZK-Rollup narrative, effective marketing, and strong support from reputable backers. 

Taiko’s roadmap outlines key milestones, including multiple testnets, the mainnet launch, airdrop, and a planned CEX listing in 2024. 

Taiko has made significant strides since its inception, marked by a series of successful testnets involving over 1.2 million unique wallets and more than 30,000 proposers and 14,000 provers. The project’s development culminated in the launch of its mainnet and an airdrop, allocating 5% of the total token supply (50 million tokens), designed to engage users and increase participation.

Taiko has gained support from the DeFi community, drawing the interest of prominent DeFi aficionados such as Ryan Sean Adams from the Bankless Foundation. 

However, there are areas for improvement, such as the lack of information on initial circulation supply, the absence of a vesting schedule, and reliance on a single public security audit. As always, we recommend exercising due diligence and doing careful research before deciding on investing in what may seem like a nascent crypto star. 

Fantom (FTM)

Fantom isn’t exactly new, but it’s a hot pick for this June, thanks to its growth potential and established reputation in the crypto scene.

Launched in 2018, Fantom is a high-performance, scalable blockchain platform managed by the Fantom Foundation. It leverages cutting-edge technology, using a Directed Acyclic Graph (DAG) and the Lachesis consensus mechanism to process up to 2,000 transactions per second. Recent adjustments, like lowering validator stake requirements, have made the network more accessible and decentralized.

FTM, Fantom’s native token, is crucial for staking, governance, and transaction fees. Its capped supply and extended staking rewards until 2027 ensure sustained community engagement and network security.

Fantom has recently made waves with significant price action, nearly doubling in value within weeks. Backed by over $340 million in assets and a strategic focus on DeFi, Fantom blends high performance with continuous innovation. Key partnerships, such as the recent collaboration with Google Cloud, and ecosystem enhancements, including a new web wallet and improved security measures, position Fantom for substantial growth.

Fantom’s versatility extends beyond DeFi; it’s a robust general-purpose blockchain. It has weathered market downturns, continuously building and innovating, which signals strong long-term potential. The upcoming Sonic upgrade is particularly exciting. It introduces the S token, which can be swapped 1:1 with FTM, enhancing transaction speeds and integrating seamlessly with Ethereum. This upgrade will boost liquidity and expand its user base.

As of May-June 2024, Fantom’s updates and investment potential has been the talk of the town among prominent crypto aficionados like Coin Bureau, Lark Davis, and Ijaz Crypto. 

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Venture capital firm and incubation arm of cryptocurrency exchange Binance, Binance Labs, disclosed its latest investment in Zircuit, a zero-knowledge (ZK) rollup with AI-enabled sequencer-level security.

Zircuit ensures user protection via sequencer-level security and incorporates automated AI mechanisms designed to mitigate smart contract exploits and counteract malicious actors. The network features a hybrid architecture that merges proven infrastructure with zero-knowledge proofs, enabling rapid, cost-effective, and fully EVM-compatible ZK rollup for heightened user security. Additionally, Zircuit’s efficiency stems from breaking down circuits into specialized components and aggregating proofs, resulting in improved performance and reduced operational expenses.

Zircuit is presently in its Testnet phase, gearing up for its mainnet launch, which is scheduled for July. Additionally, the project offers users a staking program enabling them to stake ETH, liquid staking tokens (LSTs), and liquid restaking tokens (LRTs) to earn Zircuit Points, with over $3.5 billion in staked assets currently amassed. Furthermore, it provides a Build to Earn program that incentivizes contributors to the ecosystem, including builders, founders, and community members. Notable partnerships have been established with entities such as KelpDAO and Ether.fi, Renzo, and Ethena, among others, with over 1000 applications currently registered.

As Zircuit progresses towards its mainnet launch, the project has disclosed plans to introduce a gas mining program. Further details regarding the program, partnerships, and migration will be announced at a later date.

We’ve invested in @ZircuitL2

Zircuit is a zk rollup with parallelized circuits and AI-enabled security at the sequencer level.

Read morehttps://t.co/HEjFrFgJB6

— Binance Labs Fund (@BinanceLabs) June 11, 2024

Binance Labs Expands Support For Startups, Backs Ethereum And Bitcoin Protocols

Binance Labs has expanded significantly over the recent years and currently holds a valuation exceeding $10 billion. The venture capital’s portfolio encompasses 250 projects spanning across more than 25 countries globally, boasting a remarkable return on investment rate of over 14X.

The recent action by Binance Labs highlights the company’s notable interest in startups operating within the staking and restaking sectors. In 2024, Binance Labs backed Renzo and Puffer Finance, both emerging as prominent Ethereum liquid restaking protocols. Additionally, recent support from Binance Labs has been directed towards BounceBit and Babylon, marking the expansion into Bitcoin liquid staking territory.

The post Binance Labs Invests In Zircuit To Advance L2 With AI-Enabled Sequencer-Level Security appeared first on Metaverse Post.

Ethereum Layer 2 scaling solution, ZKsync (ZK), announced intentions to distribute 3.675 billion ZK tokens to early users and contributors next week. This allocation represents 17.5% of the total supply of 21 billion ZK tokens.

This distribution will be a singular occurrence, allowing users to claim tokens starting next week until the deadline of January 3rd, 2025. Early contributors will have the opportunity to claim their tokens beginning on June 24th. Additionally, 49.1% of the token supply will be distributed through the ecosystem plan. Within this allocation, 17.2% will be designated to investors, while 16.1% will be allocated to the Matter Labs team, a company behind ZKsync.

A total of 695,232 wallets have been shortlisted for participation in this airdrop. Eligibility and allocation are determined based on activity snapshots of ZKsync Era and ZKsync Lite taken at 0:00 UTC on March 24th.

Of the ZK airdrop, 17.5% is distributed among two groups of community members: early users (89%) and early contributors (11%). Users are individuals who engage in trading on ZKsync and meet the specified activity threshold. Contributors encompass a broader range of participants, including individuals, developers, researchers, communities, and companies, who contribute to the ZKsync ecosystem and protocol via activities such as development, publicity, or education.

Notably, the number of tokens issued to the community exceeds those allocated to the Matter Labs team and investors. With the upcoming roll out of the ZKsync governance system in the next month, the community will possess the biggest supply of liquidity tokens, empowering them to steer the protocol governance upgrade.

Introducing the ZK Token

Checker → https://t.co/O2UonCvfzi
Announcement → https://t.co/hjgI14PHoi
Docs → https://t.co/taWBoCnfbc

It’s time to put the ZK token into the hands of the community. It’s your turn to govern ZKsync’s future. pic.twitter.com/VD3fZgH5bf

— ZK Nation (@TheZKNation) June 11, 2024

ZKsync Implements Points-Based Airdrop System, Encouraging Community Engagement

This airdrop is conducted on a points system, where wallets accumulate points through various activities. These include engaging with ten smart contracts on ZKsync Era, providing liquidity to decentralized finance protocols, as well as trading over 10 ERC-20 tokens. Points can also be earned for specific actions on ZKsync Lite, such as contributing to Gitcoin rounds or engaging in trading during three months before the launch of the project’s mainnet.

Once all points are allocated, each wallet will be granted distribution in accordance with the funds bridged to ZKsync Era. Addresses may gain multipliers depending on specific activity on the Layer 2 network as well as the Ethereum mainnet. Subsequently, addresses with holdings below 450 ZK tokens will see their assets returned to the pool, while excess tokens from addresses holding over 100,000 tokens will be recycled. Consequently, the minimal distribution per wallet will be 917 ZK, with a maximum of 100,000 tokens per address. Notably, there will be no vesting or lock-up period for the airdropped tokens.

ZkSync is a protocol engineered to streamline and optimize payments on the Ethereum network, employing zero-knowledge rollup technology. Through the utilization of zero-knowledge proofs and on-chain data availability, ZKsync guarantees the security of users’ funds, offering a safety standard akin to that of the Ethereum mainnet.

The post ZKsync To Conduct Airdrop Next Week, Allocating 3.675B ZK Tokens To Early Users And Contributors appeared first on Metaverse Post.

Modular blockchain network Celestia announced the launch of its data proof bridge, Blobstream, on the Ethereum mainnet.

Developed by Succinct Labs, Blobstream transmits commitments of Celestia’s data roots to an on-chain Ethereum light client. This enables permissionless and high-throughput data availability (DA) for Ethereum Layer 2 networks, secured by cryptoeconomic guarantees rather than relying on reputation or hidden trust assumptions.

Prior to Celestia, throughput limitations forced Ethereum developers creating expressive on-chain applications to migrate to alternative Layer 1 blockchains. With Blobstream, developers can continue working within the Ethereum ecosystem, establishing customizable, high-throughput blockspace without needing to seek permission or assemble a committee.

Furthermore, Celestia mentioned that Blobstream on the Ethereum mainnet is now available on Celenium, a developer-oriented blockchain explorer. This allows anyone to track on-chain commitments to Celestia’s data root.

Built on Celestia, which utilizes a CometBFT-based proof-of-stake (PoS) system, Blobstream adheres to the security assumptions of the Celestia platform. However, as the data attestation bridge is currently in its initial stages and considered experimental software, users are advised to exercise caution and acknowledge the associated risks when using Blobstream.

Blobstream is now live on Ethereum mainnet.

Deploy a high-throughput L2 as *permissionlessly* as a smart contract. pic.twitter.com/74wyw5Xknq

— Celestia (@CelestiaOrg) June 10, 2024

Celestia Bridges DA To Ethereum And EthStorage With Blobstream, Introduces It On Base Mainnet

Celestia is a blockchain network that takes a modular approach to address the scalability issues often encountered in traditional blockchain systems. It distinguishes itself by separating execution from consensus and incorporating data availability sampling (DAS) as a fundamental feature.

Celestia introduced Blobstream in October 2023. Following this, it utilized Blobstream technology to bridge its modular DA layer to Ethereum and EthStorage, using its proprietary proof-of-data availability algorithm, which samples data over time to serve as a permanent storage solution for DA BLOBs. Celestia provides specialized blob space with pricing independent of Ethereum gas costs and unrelated to execution, thereby optimizing data throughput.

Recently, Blobstream became available on the Ethereum Layer 2 network Base mainnet, allowing developers to integrate the Ethereum rollup framework with Blobstream, aiding in the expansion of multiple ecosystems.

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Decentralized finance (DeFi) trading platform Unizen (ZCX) revealed its intention to allocate 246 million ZCX tokens, representing 36% of the circulating supply, to a combined burn and airdrop initiative. This move aims to enhance social interaction and platform engagement.

The airdrop allocation will consist of 111 million ZCX tokens, equivalent to 11.7% of the total token supply, with an estimated value of around $22 million. Meanwhile, the burn allocation will comprise 135 million ZCX tokens, making up 14.2% of the total token supply, valued at $27 million.

The BURNDROP program will be implemented in strategic phases and designed to optimize community engagement and acknowledge loyalty. Initially, Unizen will emphasize social interaction, gradually transitioning to incentivize platform activity. This phased strategy aims to enhance community engagement. In the announcement, the project highlighted that individuals will only be eligible to receive the airdrop if they are subscribed to Unizen on social media platform X and Telegram messenger.

To further improve the experience, the platform is currently building a rewarding portal that utilizes on-chain data, such as trade volume and frequency.

MAJOR NEWS!

Unizen is thrilled to announce a groundbreaking initiative to reward and engage our amazing community!

We're committing ~246 million $ZCX tokens (~36% of the circulating supply) to a combined burn and airdrop program, sparking exciting incentives for social and…

— unizen (@unizen_io) June 10, 2024

What Is Unizen And ZCX Token?

Unizen operates as a DEX aggregator, enabling cross-chain swaps and granting DeFi access to UTXO assets. Utilizing a trade splitting and routing algorithm, it excels in minimizing slippage and lowering gas costs compared to its competitors. By pooling together interoperability providers, Unizen provides swift and cost-effective access to liquidity throughout various blockchains, thereby ensuring favorable trading results and improving user experience.

Unizen’s token metrics incorporate deflationary mechanisms, where ZCX tokens are allocated for burning with each trade executed on the Unizen Trade Aggregator. Tokens from seed, strategic, and private sales are fully vested, while those allocated for the team and partners undergo a six-year vesting period.

The total token supply amounts to 1 billion tokens. Among these, 30% are designated for the ecosystem and reserve, while 28.5% are allocated to the foundation. Additionally, 20% of the total token supply is assigned to the core team and future hires, with 15% divided equally among partners and advisors, private sale, and seed. Finally, 6% is reserved for the strategic sale.

Recently, Unizen has collaborated with Trend Wallet to incorporate its DeFi solutions, including the Crypto Square display for enhanced user experience and Trend Dapp Store to enable seamless access to Unizen’s web application within Trend Wallet’s Dapp Store, thereby enhancing the DeFi ecosystem.

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Decentralized finance (DeFi) project Hydration, built on Polkadot, announced that it has received an allocation of 2 million DOT, equivalent to $14.4 million, from the Polkadot treasury. These funds are designated to enhance the liquidity and trading efficiency of Hydration’s single-sided liquidity provisioning platform, Omnipool.

“This generous allocation from the Polkadot treasury marks a pivotal moment for Hydration. With this welcome injection of liquidity, we are able to significantly deepen our liquidity, which is vital not just for our growth but also for the continued health of the entire Polkadot ecosystem,” said Jakub Gregus, co-founder of Hydration. “The Hydration Omnipool is designed to provide unparalleled efficiency and accessibility in trading crypto-assets, and this support from the Polkadot treasury is a testament to the potential impact of our forward-looking approach.”

The allocation of the DOT tokens serves two purposes. One million DOT will be utilized over the course of one year to attract new liquidity to the Polkadot ecosystem, with initial rewards for Liquidity Providers (LPs) expected to exceed 200% annual percentage yield (APY).

Due to the single-sided LP design of the Hydration Omnipool, users can begin receiving rewards after providing a single asset and joining an incentives farm. Various assets, including native stablecoins, DOT, BTC, and several ecosystem coins, will be incentivized.

The remaining one million DOT will be directly injected into the Hydration Omnipool with the aim of establishing a strong and accessible layer of native liquidity to benefit the broader Polkadot 2.0 ecosystem over time. This capital will supplement the existing funds, which include over 690,000 DOT and more than 560,000 vDOT already provided to the Hydration Omnipool.

The funding for the Hydration Omnipool, provided in a decentralized and non-custodial manner, will remain under the governance of the Polkadot Protocol and OpenGov.

Hydration And Astar Network Achieve Milestone With Over 5.5M ASTR Tokens Locked In Omnipool

Hydration is the primary liquidity protocol on Polkadot, aiming to make DeFi efficient, simple, and resilient. In order to accomplish this, it integrates swaps, lending, and a stablecoin within a single, scalable appchain. With features like single-sided LPing, automated trades (DCA), and limit orders, Hydration offers the most efficient liquidity platform on Polkadot.

Recently, the Hydration and Astar Network communities have collaboratively achieved a milestone of over 5.5 million ASTR tokens locked in Hydration’s Omnipool. Locking liquidity in the Hydration Omnipool facilitates more efficient DeFi swaps for the ASTR token globally.

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dYdX Ecosystem Development Program initiated a new round of grants amounting to approximately $2 million. This round encompasses ten distinct projects, addressing various areas such as wallet integration, market making, trading bots, and enhancements to user interfaces.

The Keplr Wallet Trading Integration grant supports the complete integration of Keplr Wallet with the dYdX trading application, alongside a retroactive grant for Keplr’s current DYDX staking and governance integration.

Another grant is aimed at empowering Pulsar Trading to enhance exchange liquidity through the program. The partnership with Raven and Velar Technologies has been extended for an extra 6 months, expanding support to 60 markets.

Moreover, the dYdX Ecosystem Development Program will allocate funds to Chaos Labs to operate the release incentives program. Recently renewed by the dYdX community, this program involves an added $10 million worth of DYDX tokens to incentivize traders and individuals actively utilizing the protocol.

Furthermore, the Isaac Telegram Trading Bot grant will support the incorporation with Isaac for perpetual trading via dYdX. The first version will facilitate trading in dYdX’s primary markets (BTC, ETH, SOL). The Copy Trading Bot grant was allocated to Erience Solutions to facilitate the creation of an open-source copy trading bot. Furthermore, AJ LaMarc will be tasked with creating a client with a one-click installation.

Nabla HQ Secures Funding For dYdX Trading History And Markets Page Revamp, Helius Labs Awarded Grant For Solana Nodes

As part of the Trading History and Markets Page Frontend Revamp initiative, Nabla HQ has received funding to develop an “export” function and renew the market webpage. Additionally, a grant has been launched for Solana Nodes for the dYdX Testnet. Helius Labs will oversee two Solana RPC nodes to support dYdX testnet validators in accessing price data.

Moreover, the dYdX Ecosystem Development Program has initiated the dYdX Merch Renewal grant. The program’s duration has been extended by six months to support the introduction of new products and operational enhancements.

We are thrilled to announce a new round of @dYdX grants!

This round includes ten grants for a total of ~$2M in funding.

— dYdX Ecosystem Development Program (@dydx_grants) June 10, 2024

Developers interested in contributing to dYdX can begin the process by applying for a grant. The project continually accepts and reviews applications. To apply, prospective participants need to complete the form available on the dedicated grants page of the dYdX website. Following the submission, the lead will directly contact applicants whose documents are successfully considered for a grant.

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Bitcoin (BTC) 

News & Macro 

Last week, Bitcoin witnessed significant price fluctuations, peaking at around $71,000 before settling at $69,000. This surge was fueled by strong inflows into Bitcoin ETFs, reflecting renewed investor confidence in the market. 

Meanwhile, CleanSpark Inc., a leading Bitcoin mining company, reported impressive May results, mining 417 bitcoins with high efficiency and expanding its operations to boost capacity further.

CleanSpark’s Report on Bitcoins Mined in May, Source: CleanSpark

The approval and launch of new cryptocurrency ETFs, particularly for Ethereum, also played a crucial role, driving increased capital inflows and enhancing Bitcoin’s market stability and growth potential. 

Price Analysis

Bitcoin’s (BTC) recent 1-day chart is a mixed bag, reflecting uncertainty in market direction compared to previous weeks.

On the daily chart, Bitcoin has been trading in a tight range between $69,000 and $70,800, with closing prices near $69,386. Long red candles hint at mild selling pressure as the market searches for stability.

BTC/USD 1D Coinbase, source: TradingView

This period of relative calm is a stark contrast to previous weeks, which saw more dynamic moves, including a peak around $71,000 that highlighted strong buying activity.

ETH/USD 4H Coinbase, source: TradingView

On the 4-hour chart, the consolidation trend is even clearer, with trading tightly centered around $69,000. The Relative Strength Index (RSI) hovers near the neutral 50 mark, indicating a balance between buying and selling pressures, with no immediate signs of the market being overbought or oversold.

Analyst bitcoinwallah from TradingView points out a symmetrical triangle breakout pattern on the 4-hour chart, suggesting Bitcoin could potentially reach $75,000 if it breaks above the upper trendline.

Bitcoin 4H Symmetrical Triangle Analysis by bitcoinwallah, Source: TradingView

This analysis indicates the market could go either way. A bullish breakout above the $70,800 resistance might signal renewed buyer momentum, pushing prices towards $72,000. Conversely, a drop below the $69,000 support could increase bearish sentiment, potentially driving the market down to the $67,000 level or toward the supportive 50-day EMA.

Ethereum (ETH)

News & Macro

Ethereum, like Bitcoin, is navigating a phase marked by both anticipation and hesitation. The DeFi sector has hit a 15-month high, with total value locked reaching $192 billion, driven by ETH appreciation and reflecting robust underlying demand.

DeFi sector’s TVL (Total Value Locked), source: DappRadar

However, regulatory factors continue to sway market dynamics and investor confidence. SEC Chair Gary Gensler has suggested that eth spot Ether ETF launch might take a while. Although formally approved, these ETFs can’t start trading until they receive the required S-1 registration statement approvals. 

Gensler remarked, “These registrants are self-motivated to be responsive to the comments they get, but it’s really up to them how responsive they are,” according to Reuters on June 6. This sentiment is mirrored in the current pessimism seen in ETH’s future.

The recent EU elections are also pivotal, potentially shaping the regulatory framework and paving the way for the first spot Ether ETF. However, positive developments within the Ethereum ecosystem offer some optimism. 

Open interest for ETH futures, source: Coinglass

Ether futures open interest and options trading volume have reached all-time highs, indicating heightened market activity. Additionally, a decline in ETH reserves on crypto exchanges, coupled with increased institutional inflows, has driven Ether’s price upward.

Moreover, Ethereum’s layer-2 solution, Base, has achieved $8 billion in total value locked, underscoring strong network activity and providing price support. These developments suggest a dynamic environment for the foreseeable future of ETH, where both bullish and bearish factors are at play.

Price Analysis

Over the last week, the price of ETH has settled into a narrow trading range, reflecting a market caught in a tug-of-war between buyers and sellers.

ETH/USD 1D Coinbase, source: TradingView

The 1-day chart shows Ethereum seesawing between $3,700 and $3,800, closing near the lower boundary of this spectrum at approximately $3,671. The subtle drift suggests a cooling-off period following more aggressive price movements in prior weeks that saw peaks above $3,900. The mix of green and red candles within this band signals a standoff. 

The 20-day EMA is trending slightly downwards, hailing a potential crossover with the 50-day EMA. A downward crossover would signal increased bearish momentum, possibly leading to lower prices in the coming days or weeks.

ETH/USD 4H Coinbase, source: TradingView

On the 4-hour chart, the action is even more downward-leaning while still confined mostly between $3,660 and $3,760. Recently, the price dipped below the 4-hour 50-period EMA, suggesting that short-term momentum is taking a bearish turn. The EMA has acted as a dynamic resistance, capping upward movements and aligning closely with the upper boundary of the trading range. The Relative Strength Index (RSI), hovering below the midpoint at around 38, further supports the near-term bearish sentiment. 

Given the current setup, Ethereum may be poised for more definitive moves. If the price can reclaim the 50-period EMA and sustain above it, this could signal a shift back towards bullish conditions, potentially challenging higher resistance levels near the top of the recent range. Conversely, if the price continues to respect this EMA as resistance and the RSI remains subdued, there might be a further downside, with the next levels of support likely found at lower historical points within the recent trading history.

Toincoin (TON)

News & Macro 

The past week has been groundbreaking for the TON blockchain, marking significant leaps in global cryptocurrency integration and adoption. Toncoin (TON) is now integrated into the Coin Wallet, a widely-used non-custodial multicurrency wallet available on Android, iOS, macOS, Linux, Windows, and Web.

In a parallel move, American brokerage Robinhood has added TON to its cryptocurrency offerings for European Union users. Additionally, the TON Foundation and Tether have teamed up to launch an ambitious initiative, aiming to establish over 100 global partnerships to integrate USDT on the TON blockchain.

On the technological front, the launch of the Algebra DEX engine stands out. This leading DeFi protocol for decentralized exchanges significantly enhances liquidity management on the TON blockchain, supporting over 25 exchanges with a combined trading volume exceeding $245 million and a total trading turnover of $52 million.

Price Analysis

On the daily chart, Toncoin has exhibited some stability with a gradual uptrend over the past weeks.

TON/USD 1D ByBit, source: TradingView

Toncoin (TON) has maintained a steady uptrend over the past few weeks on the daily chart. The price is currently hovering around $7.00, with a recent close at $7.09. This stability follows a significant rise where the price hit $7.70, indicating a strong bullish surge.

In recent days, however, the market has seen a downtrend, marked by long red candles indicating selling pressure. The price has eased back towards the $7.00 psychological support level. The 50-day Exponential Moving Average (EMA) at $6.63 is crucial support if the downward trend continues. Despite this, the consistent position above the EMA suggests an underlying bullish sentiment, although the recent consolidation with tighter price action and small-bodied candlesticks points to trader indecision.

TON/USD 1D ByBit, source: TradingView

On the 4-hour chart, Toncoin’s struggle to maintain bullish momentum is more evident. The price peaked at $7.50 before retreating to $7.03, showing frequent testing within the $7.00 to $7.50 range. The EMA provides dynamic support that is closely aligned with the price.

The RSI on the 4-hour chart trending near 46 indicates a cooling off from previously overbought conditions, hinting at potential consolidation or preparation for another upward push if buyer momentum increases.

In summary, Toncoin is currently at a crossroads. The market’s movement in the coming days is contingent on several factors: if Toncoin can sustain support above the $7.00 mark and rebound off the 50-day EMA on the daily chart, there’s potential for retesting previous highs near $7.70. Conversely, a break below this crucial support could see the price testing further down toward the $6.50 region, emphasizing the importance of the $6.63 EMA as a pivotal zone for traders to watch.

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Decentralized finance platform Jellyverse (JLY) unveiled the Jellyverse ecosystem, along with its decentralized exchange (DEX) called JellySwap on the Sei blockchain.

Jellyverse incorporates various decentralized finance (DeFi) tools and introduces DeFi 3.0 with the introduction of jAssets, an economic system facilitating the trading of decentralized assets, thus offering new avenues for portfolio diversification.

New protocols introduced within the Jellyverse ecosystem encompass JellySwap, a Balancer-friendly fork designed to integrate “WeightedPools” supporting up to eight different tokens, and ‘composable stable pools’ enabling users to tailor investment ratios with up to five tokens per pool. Meanwhile, the JellyStake staking protocol will involve the community in governance processes, rewarding stakers with protocol revenues. Additionally, jAssets, a synthetics protocol, will facilitate the creation of tokens tracking price feeds of real-world assets (RWA), spanning from stocks to commodities.

Furthermore, in celebration of the launch of Jellyverse, the platform will host the Pool Party event, providing the community with a distinctive opportunity to acquire JLY tokens. During the event, participants will have the chance to purchase JLY using SEI tokens, which will then be pooled with additional JLY to establish initial pool liquidity. The event is scheduled to commence at 12 pm UTC on June 11th and will run for 96 hours or until the token supply is depleted.

What Is Jellyverse?

Jellyverse is dedicated to advancing DeFi 3.0, which focuses on building a sustainable and yield-oriented ecosystem. Within this framework, users gain access to diverse protocols, each serving specific use cases and integrating RWA.

JLY functions as the central governance and utility token within the Jellyverse ecosystem. It empowers JLY stakers to engage in decision-making processes and impact key parameters across various protocols and decentralized applications (dApps) integrated within the Jellyverse platform.

Recently, Jellyverse incorporated the Sei Ecosystem‘s largest native wallet, Compass Wallet, into its platform. This integration allows users to navigate swaps, manage liquidity, create pools, and establish staking chests.

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Chinese technology company Kuaishou Technology, known for its content community and social platform, unveiled Kling AI, a new tool designed to generate highly realistic videos from text prompts, representing a potential competitor to OpenAI’s Sora model.

Sora is an AI model designed to generate lifelike and creative scenes based on textual input. Central to Sora’s video generation capabilities is a deep learning framework. The model learns associations between words and phrases with various elements such as objects, actions, environments, and stylistic nuances.

While OpenAI’s Sora model is capable of generating videos up to one minute in length, the Kling AI can produce realistic videos reaching up to two minutes with 1080p resolution at 30 frames per second. It supports multiple aspect ratios and achieves a high level of detail through advanced 3D face and body reconstruction techniques, ensuring that its AI-generated videos are virtually indistinguishable from real footage.

Kling AI utilizes a 3D Variational Autoencoder (VAE) to reconstruct faces and bodies, enabling the generation of detailed expressions and limb movements from a single full-body image. This technology is enhanced by a 3D spatiotemporal joint attention mechanism, enhancing the model’s ability to handle complex scenes and movements. This ensures that the generated content maintains consistency with the laws of physics.

The application adopts an open-access approach, although with regional limitations in place. The model is currently functioning in its trial phase.

Less than 48 hours ago, Sora competitor Kling dropped.

People are already getting access and creating wild AI videos.

1. MadMax Beer commercial made in 1 hourpic.twitter.com/CyKm2aI0It

— Min Choi (@minchoi) June 8, 2024

Kuaishou Technology Unveils KwaiYii LLM And Kolors Text-to-Image Model

Kuaishou Technology is among several Chinese technology companies competing to introduce alternatives to Sora. The text-to-video capability represents its most recent AI innovation, following the introduction of its KwaiYii large language model (LLM) and the text-to-image model Kolors, which debuted in May.

Additionally, the “AI Dancer” feature, accessible within the Kuaishou Technology application and the video production application Kwaiying, enables users to upload a static photo and generate videos featuring the character dancing to specified rhythms and movements.

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Non-custodial cryptocurrency wallet for Solana and Ethereum, Backpack Wallet announced the completion of an update, featuring enhanced user interface and user experience improvements.

The updated version introduces a new wallet switcher optimized for multi-chain navigation, allowing users to effortlessly switch between recently used wallets across different networks. Additionally, the collectibles tab now includes a dedicated search function for improved accessibility.

Moreover, Backpack Wallet now offers support for the Metaplex Core non-fungible token (NFT) standard, enhancing the ease of NFT transactions. In addition, the wallet has introduced the new Mask Balances feature, providing individuals with the option to maintain privacy. Mask Balances, accessible through preferences, enables users to hide their balances by default.

All the latest updates are now accessible on the wallet’s desktop extension, with plans for their rollout on the Android and iOS mobile versions in the near future.

Backpack Wallet just got a big update

Let's dive in pic.twitter.com/lQWSczQ1Yb

— Backpack (@Backpack) June 10, 2024

Backpack Wallet: Pioneering Tool For Crypto Management And NFT Security

Backpack Wallet serves various functions, including sending and receiving cryptocurrency assets, swapping cryptocurrency tokens, viewing and securing NFTs, linking with hardware wallets, and engaging with xNFTs, which represent the Backpack ecosystem’s decentralized applications (dApps). Additionally, it provides a feature for locking NFT collections, declining transaction requests by default when an NFT is locked within the wallet.

Backpack Wallet, in collaboration with the NFT collection Mad Lads, is provided by the cryptocurrency exchange Backpack. This exchange, headquartered in Dubai, holds a virtual asset service provider (VASP) registration issued by the Dubai Virtual Assets Regulatory Authority. In February, it raised $17 million in a Series A funding round led by Placeholder VC, featuring contributions from Hashed, Robot Ventures, and other prominent investors.

The platform achieved a milestone of over $1 billion in trading volume over the 24-hour period within four days of releasing its trading pre-season in the same month. As of the writing time, Backpack’s trading volume is nearly $5 million, based on data sourced from CoinMarketCap.

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Layer 1 blockchain Berachain launched its public testnet, bArtio B2, enabling users to engage and explore the network. Berachain is an EVM-compatible blockchain built on Proof-of-Liquidity (PoL) and supported by  BeaconKit, a modular, customizable layer for EVM-based blockchains.

BeaconKit, the foundation of Berachain, allows builders to launch single-slot finality EIP-compatible Layer 1 and Layer 2 EVM blockchains.

BeaconKit has been tested on various execution clients, including Geth, Erigon, Nethermind, Besu, Reth, and Ethereumjs.

BeaconKit facilitates fast execution by utilizing Berachain’s BeaconBlock on top of CometBFT block. Its blockchains enforce that Validators sign the StateRoot prior to accepting the block. As a result, the block verification procedure is significantly streamlined, minimizing the period from BlockGossip to Inclusion.

Furthermore, BeaconKit does not rely on Cosmos modules and permits blockchain injecting custom logic as needed to create Custom Block Validity rules and Processing logic. Additionally, beyond its support for EIP-4844, BeaconKit may be utilized with ABCI 2.0 compatible consensus engines. This compatibility allows for seamless integration with Rollkit, forging a path to robust Layer 2 networks.

The latest iteration of Berachain, V2, introduced a novel architecture that enhances the execution of client diversity and consensus, aiming to provide a consistent experience for EVM smart contract development.

Berachain's Public Testnet bArtio B2 is now live.

Hot Bera Summer begins at:

https://t.co/Wozhn32KfW pic.twitter.com/jwv4IQNoPB

— Berachain (@berachain) June 9, 2024

Berachain Plans Mainnet Launch In 2024 Following Artio Public Testnet Roll Out

Berachain specializes in decentralized finance (DeFi) trading, lending, and borrowing services utilizing its unique tri-token system. It employs the PoL consensus mechanism that aligns network incentives, promoting collaboration among Berachain validators, ecosystem projects, as well as users.

The project aims to roll out its mainnet later in 2024. Berachain launched the public testnet Artio in January. Recently, the platform secured more than $69 million in a funding round led by Brevan Howard Digital and Framework Ventures.

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Decentralized oracle protocol Tellor announced plans for auditing its Oracle Layer 1 blockchain, Tellor Layer. This forthcoming audit aims to assess the security and reliability of the Tellor Layer, transforming it from an Ethereum Virtual Machine (EVM) and smart contract-based system to an autonomous oracle-specific Layer 1 network.

During the security audit, experts will scrutinize Tellor’s code to detect and address any possible vulnerabilities that may exist. This process aims to guarantee that the system functions as designed and upholds robust security standards.

To facilitate the audit, Tellor will work with Zellic, a security firm known for its expertise in auditing blockchain and smart contracts. Zellic has previously audited LayerZero, Solana, Berachain, and other prominent projects, bringing valuable experience to the table.

The project prioritizes security and the stability of its protocol and network. To ensure robustness, it has already undergone multiple audit checks conducted by cryptocurrency auditing firm CertiK, which conducted Tellor audits on three fronts: Tellor Core, Tellor V2, and TellorX. In all the cases, CertiK concluded that the protocol exhibits no critical vulnerabilities or security concerns.

What Is Tellor? 

Tellor functions as a decentralized oracle protocol, facilitating the supply of data to smart contracts. Operating on a permissionless network, it enables extensive participation in both data reporting and validation processes. The protocol supports various data types, including market data, facilitated by reporters using the Telliot client.

Furthermore, Tellor’s objective is to revolutionize the process of generating, validating, and securing data within decentralized networks. Through the provision of a resilient, adaptable, and expandable oracle system, it serves various data requirements across blockchains, empowering developers to build applications on a stable framework supported by trustworthy data. To accomplish this goal, Tellor utilizes cometBFT consensus, new oracle architectures, and trustless light client bridges to enable seamless data integration and verification. 

Recently, Tellor introduced Architectural Decision Records (ADRs), which provide detailed documentation of the key technical choices influencing the development of Tellor as a decentralized oracle protocol. The usage of ADRs in developing Tellor Layer ensures the maintenance of a unified and logical architectural strategy.

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