Real-world asset (RWA) tokenization protocol Blocksquare (BST) announced the launch of its Oceanpoint v0.5 launchpad. This release introduces Marketplace Pools designed to support community-driven decentralized real estate investment and tokenization.

“This launch underscores Blocksquare’s commitment to advancing RWA tokenization through community governance and funding,” said Denis Petrovcic, co-founder and CEO of Blocksquare. “Oceanpoint v0.5 fosters a decentralized marketplace ecosystem where both community members and marketplace operators have the tools and incentives needed to thrive in this innovative environment,” he added.

The new tool simplifies the process for individuals to secure funding in tokenized real estate investments, benefiting marketplace operators and users.

The Marketplace Pools aims to simplify community-driven support and funding processes. Operators submit proposals to the BST community, outlining business plans and key performance indicators. Individuals subsequently approve these proposals for investment, commencing with a minimum deposit of 500 sBST. The objective is to achieve 100,000 sBST to activate comprehensive backing and increased annual percentage yield (APY) incentives.

The new update promotes inclusive participation by providing flexible contribution limits and guaranteeing that investments are safeguarded through a dual-lock mechanism, which enhances commitment and stability. Community members supporting these initiatives are anticipated to receive higher APY rewards as the supported marketplaces reach their growth objectives.

Meanwhile, Marketplace Operators have an option to more readily secure the necessary support for projects and showcase commitment by setting performance metric goals within specified timeframes and offering a stake as collateral.

What Is Blocksquare?

Blocksquare offers software-as-a-service (SaaS) solutions tailored for blockchain-based real estate tokenization. Its suite of tools and APIs facilitates the digital representation of real estate property values, the creation of investment platforms, and the connection of individuals to online tokenized real estate deals.

Recently, Blocksquare unveiled achieving a milestone by successfully tokenizing properties valued at $100 million. This landmark in real estate assets on Blocksquare highlights a wide array of real estate assets, encompassing 118 properties such as hotels, restaurants, parking lots, healthcare facilities, and apartments located throughout over 21 countries.

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During this week, Web3 saw major funding rounds and investments across various sectors. ZKX secured $6.3M for social trading, Covalent raised $5M to expand in Asia, NovaNet closed a $3M seed round for ZKP technology, and Bitcoin miner Hut 8 landed a massive $150M investment from Coatue Management. These deals, totaling over $160M, highlight the diverse innovation and growing investor confidence in blockchain, DeFi, and the convergence of crypto with AI technologies. 

ZKX Lands Major Funding to Revolutionize Social Trading in Crypto

Decentralized exchange ZKX has successfully secured $6.3 million in a seed funding round spearheaded by notable investors Flowdesk, GCR, and DeWhales. This financial boost will fuel the expansion of ZKX’s innovative protocol, introducing cutting-edge features like social copy trading pools and enhanced cross-chain functionality. 

Leveraging Starknet and Ethereum, ZKX’s platform employs advanced appchain technology to deliver a seamless trading experience, complete with gas-free transactions and a consolidated order book catering to both novice and seasoned traders.

Covalent Secures Strategic Investment to Spearhead Asian Market Expansion

Blockchain data powerhouse Covalent has clinched $5 million in strategic funding, with RockTree Capital leading the charge alongside CMCC Global, Moonrock Capital, and Double Peak Group. This capital injection will propel Covalent’s ambitious plans to establish a strong foothold in key Asian markets, including China, Korea, and Singapore. 

The company aims to champion the adoption of its Long-Term Data Availability solutions in these regions while simultaneously rolling out its transformative New Dawn Initiative, designed to strengthen ties with its crypto-centric user base.

NovaNet Attracts Seed Funding to Pioneer ZKP Incentive Layer

In a groundbreaking move, NovaNet has raised $3 million in seed funding, backed by Finality Capital Partners and joined by Arrington Capital, the Avalanche Foundation, and Builder Capital. This innovative startup is set to create the world’s first incentive layer for zero-knowledge proofs (ZKPs), extending their application far beyond traditional zk-rollups. 

NovaNet’s cutting-edge NIVC-based zkVM enables localized verifiable computation and privacy-preserving applications at an unprecedented scale. This funding will accelerate the development of advanced ZKP capabilities, opening new possibilities across various sectors.

Binance Labs Backs Infrared to Enhance Berachain’s Liquidity Ecosystem

Binance Labs has thrown its weight behind Infrared, a promising protocol aimed at simplifying access to Berachain’s Proof of Liquidity (PoL) mechanism. Infrared’s mission is to optimize value capture within the Berachain network through user-friendly liquid staking solutions for BGT and BERA tokens. 

This strategic investment will improve Berachain’s network infrastructure and refine liquid staking products like “iBGT” and “iBERA”. The move is expected to boost wider adoption of Berachain and spawn innovative use cases within the DeFi landscape.

ORA Raises Capital to Bridge AI and Blockchain

Oracle protocol ORA has successfully closed a $20 million funding round, attracting investments from industry leaders such as Polychian, HF0, and Hashkey Capital. ORA is pioneering technology in tokenizing AI models on-chain and introducing a novel initial model offering (IMO) mechanism. 

ORA is excited to announce a $20M fundraise from top backers:@polychain@hf0residency@hashkey_capital@sevenxventures

and more pic.twitter.com/smhU5FPx1Y

— ORA (@OraProtocol) June 26, 2024

The protocol’s innovative, optimistic machine learning technology (opML) enables blockchain-based AI model inference with enhanced verifiability and traceability. This substantial funding will drive ORA’s ecosystem development, with a focus on advancing Oracle technology and blockchain infrastructure.

Colosseum Secures Major Funding to Nurture Solana’s Developer Ecosystem

Solana’s Colosseum has raised an impressive $60 million for its inaugural fund, which is dedicated to fueling its startup accelerator program. This substantial capital will provide pre-seed investments to promising teams accepted into Colosseum’s Accelerator, aiming to attract and nurture top talent within the Solana ecosystem. 

Selected projects will benefit from a $250,000 pre-seed investment and gain invaluable access to Solana’s extensive network of mentors and venture funds. This initiative is poised to significantly boost innovation and growth within the Solana community.

Hut 8 Attracts Massive Investment to Merge Crypto Mining and AI

Bitcoin mining giant Hut 8 Corp has secured a game-changing $150 million investment from tech-focused investment firm Coatue Management. This strategic funding, structured as a convertible note, recognizes Hut 8’s potential to power cutting-edge generative AI applications using its formidable high-performance computing infrastructure. 

This investment underscores the growing synergy between cryptocurrency mining and artificial intelligence as mining operations pivot to support emerging AI technologies. The capital infusion is expected to accelerate Hut 8’s compute capacity expansion and position the company at the forefront of both the crypto and AI sectors.

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Organization responsible for the development of the Layer 1 blockchain Fantom (FTM), Fantom Foundation, announced the release of the fourth Sonic proposal. This proposal aims to expedite the transition of validators and stakeholders to the new Sonic network.

The proposal outlines such adjustments as increasing gas monetization revenue up to 90% with a new burn model to raise the burn rate for transactions, shortening the staking period to two weeks, and unlocking significant Liquid Staking Token liquidity through liquid staking derivatives. Additionally, it offers migrating FTM tokens from the remaining validator block rewards from Opera to the Sonic network to ensure a limited token supply.

Furthermore, it also proposes targeting a 3.5% yield for validators and stakers when 50% of the network is staked via inflation, which will start from rewards four years post Sonic roll out. It also aims to establish the right to craft the “Migration Validator/Staker Unlock.”

If approved, the vote will finalize the tokenomic migration plan with a detailed whitepaper further prepared, which will include information on all preceeding governance votes.

Governance News

Our 4th #Sonic proposal is here, seeking to accelerate the transition of our validators and stakeholders to the new Sonic network by:
​
Boosting Gas Monetization revenue to as much as 90% with a new burn model that increases burn rate for transactions… pic.twitter.com/GofSc7zezr

— Fantom Foundation (@FantomFDN) June 27, 2024

Fantom Foundation Unveils Sonic Network And Outlines Migration Plan 

The Fantom Foundation announced its plans to upgrade FTM to S in May and intends to release the Sonic Network with a native token leveraging the ticker S.

The Sonic Network is a Layer 1 blockchain featuring a native Layer 2 bridge linked to Ethereum. It handles 2,000 transactions per second (TPS) with sub-second finality, marking an advancement from Fantom Foundation’s current Opera network that supports only 200 TPS. Furthermore, the new network can manage more than 180 million transactions in a 24-hour period, providing real-time confirmations within sub-second intervals.

As part of the transition, users holding FTM tokens will have the option to exchange their funds at a one-to-one ratio for the S token. Additionally, leveraging a new secure bridge architecture, the new blockchain aims to offer enhanced performance to individuals and decentralized applications (dApps) in comparison with the Opera network.

Fantom operates as a Layer 1 project utilizing a unified consensus layer to facilitate the creation of multiple execution blockchains. FTM, the project’s native token, serves various purposes, encompassing payments, governance, and ongoing block rewards distributed to validators and delegators who stake FTM. The network’s independent consensus layer, named Lachesis, incorporates a unique consensus mechanism known as the “Lachesis Protocol,” designed by the Fantom Foundation. Lachesis ensures security across multiple layers, starting with Fantom’s EVM-compatible smart contract blockchain known as Opera.

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Web3 social platform and infrastructure UXLINK (UXLINK) announced its intention to launch the Social Liquidity Provisioning (SLP) system, which will include token pools designed for community and ecosystem developers.

Builders now have the opportunity to stake tokens before their token generation events (TGEs) or UXLINK, BTC, ETH, and stablecoins into the SLP protocol to foster community-driven growth. SLP will distribute yields among developers and the community through the proof-of-stake (PoS) model. 

Additionally, SLP will feature two liquidity pools: the Growth Yield Pool for pre-TGE tokens and the Deposit Yield Pool. Both pools will offer potential yield generation for depositors and partners. The SLP system will facilitate interest-bearing fund pools featuring various tokens and growth fund pools for pre-TGE tokens, aligning with UXLINK’s existing profit model. Currently, the platform boasts over 100 ecosystem partners.

This enhancement aims to strengthen the UXLINK token by positioning it as the first social infrastructure token to capture ecosystem growth value. Effective from July 1st, every ecosystem partner is required to hold UXLINK assets.

We are thrilled to announce that UXLINK will launch SLP (Social Liquidity Provisioning) System with tokens pools for community and ecosystem developers.

What's SLP and benefits?
Developers can pledge pre-TGE tokens / UXLINK (or BTC/ETH/Stable Coins) tokens into the SLP…

— UXLINK (@UXLINKofficial) June 28, 2024

UXLINK Expands Its Partner Network By Cooperating With TON Ecosystem Projects 

UXLINK functions as a social platform based on Web3 groups that enables the creation and exchange of encrypted assets. Currently, UXLINK boasts more than 5 million registered users across over 90,000 groups. Furthermore, the platform witnesses approximately 800,000 daily active users utilizing decentralized applications (dApps), with about 180,000 daily active users participating in on-chain activities.

Recently, UXLINK reaffirmed its ongoing support for the development of the messaging application Telegram and The Open Network (TON) ecosystem, announcnig its collaboration with three TON ecosystem projects, encompassing the TON gaming bot Catizen, the TON Launchpad platform TonUP, and the TON Web3 social shopping platform Bounty Bay.

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Decentralized exchange (DEX) on Ethereum Layer 2 networks ZKsync and Linea, Velocore, announced that it has temporarily disabled most functions, retaining only the withdrawal, in response to a recent exploit of vulnerabilities.

During the security breach, only the volatile pools were exploited, while the others remained unaffected. Imbalances in stable pools and depegged pools caused additional losses for Liquidity Providers (LPs), as frontend swaps were unable to resolve these issues through arbitrage. Meanwhile, on Linea, Velocore could only adjust the swap fee to zero without implementing deeper structural changes. This measure was taken to mitigate potential further damage and ensure a consistent withdrawal method for all users.

Furthermore, during a contract reevaluation, Velocore identified another vulnerability that could potentially lead to the theft of all assets. As a precautionary measure, Velocore conducted a white-hat operation to swiftly mitigate risks, securing assets in a separate Safe vault. 

Velocore has emphasized that affected LPs are now able to claim their funds based on the LP snapshot captured at the specific block on both ZKsync and Linea.

Additionally, the Telos blockchain remained secure and was promptly patched without implementing a timelock. Velocore intends to return the stolen assets directly to their owners on a 1:1 basis, which is separate from the overall compensation for LPs. The team is currently in the process of taking snapshots for Telos and updating the claims function.

Notably, regarding compensation for victims of the previous exploit involving LPs, the decision will be determined later through a community vote on whether to reboot or liquidate. All remaining assets will be consolidated into a single treasury for collective decision-making.

Whitehat Operation for Remaining Balances in Velocore Vault

Following the recent exploit, we disabled most functions in Velocore except withdrawals to prevent further damage. However, this caused confusion among some users. Only the volatile pools were exploited, while others… pic.twitter.com/E1l17HCjvn

— Velocore | veDEX on zkSync Era / Linea (@velocorexyz) June 28, 2024

Velocore Faces $6.8M ETH Loss In Security Breach, Multiple Pools Compromised

Velocore is positioned as the first veDEX spanning multiple blockchains developed on Velodrome. It provides a trading environment characterized by low fees and minimal slippage, aiming to alleviate protocols from the need to inflate their token rewards, thereby fostering growth within the decentralized finance (DeFi) ecosystem. 

Velocore encountered a security breach on June 2nd, resulting in approximately $6.8 million worth of ETH being lost. The vulnerability stemmed from weaknesses within the Balancer-style CPMM pool contract. The affected contracts included all volatile pools (CPMM) on Linea and ZKsync Velocore. Although Telos Velocore also had similar vulnerabilities, actions were taken to mitigate them before any exploitation occurred.

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Ethereum liquid restaking protocol Renzo introduced its liquid staking token (LRT), pzETH. This token is deployed on the shared security protocol Symbiotic and issued in collaboration with liquid staking infrastructure provider Mellow Protocol.

pzETH facilitates staking with stETH, wstETH, wETH, and ETH. Additionally, it provides users with risk-adjusted restaking rewards through Symbiotic. Moreover, pzETH stacks with Symbiotic, Mellow protocol, and ezPoints. According to the announcement on social media platform X, the initial phase 1 deposits are capped at a maximum of $25,000.

Renzo protocol functions as an LRT and Strategy Manager for EigenLayer, serving as the gateway to the EigenLayer ecosystem by securing Actively Validated Services (AVSs) and providing higher yields in comparison to ETH staking. It facilitates streamlined cooperation between its users and EigenLayer node operators.

The protocol launched its beta mainnet publicly in December 2023. It allows individuals to deposit native ETH, wBETH, or stETH to access EigenLayer Restaked points.

Apart from pzETH, the Renzo protocol provides another liquid restaking token, ezETH, which represents a user’s restaked position. Individuals can deposit ETH or LSTs to receive ezETH. This token is reward-bearing, with the underlying restaking positions capable of generating incentives that affect the value of ezETH. Consequently, the ezETH value rises in correlation with the underlying LSTs as it gains more rewards in AVS tokens.

Restaking should be ez pz!

Introducing $pzETH, Renzo’s flagship LRT on @symbioticfi in collaboration with @mellowprotocol

Restake stETH, wstETH, wETH and ETH
$pzETH gives you risk-adjusted restaking rewards on Symbiotic
$pzETH stacks Symbiotic, Mellow and ezPoints… pic.twitter.com/VV1lTjRDY9

— Renzo (@RenzoProtocol) June 27, 2024

Renzo Protocol: $17M Collected To Expand Its Restaking Services 

Recently, Renzo protocol raised $17 million in a funding round led by Galaxy Ventures, alongside another round led by Brevan Howard Digital Nova Fund, following its initial $3.2 million seed raise in January, led by Maven11, among other investors. 

As of the latest update, Renzo has accumulated approximately $3.1 billion in total value locked (TVL) and holds a market capitalization of $111.51 million, based on data from the cryptocurrency tracker DeFiLlama.

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Decentralized finance (DeFi) platform specializing in aggregating liquidity across different blockchains, Radiant Capital (RDNT) announced its nearing completion of the V3 launch and expansion onto the Layer 2 network Base. As part of this update, active decentralized liquidity providers (dLPs) are set to receive a combined airdrop of 125 million RDNT and LayerZero tokens.

Radiant V3 introduces several new features and functionalities, including the Radiant Innovation Zone (RIZ), a one-click leverage strategy, a dual emissions mechanism, and integration with Stargate V2.

The Radiant Innovation Zone (RIZ) provides isolated markets where decentralized autonomous organizations (DAOs) can swiftly and securely launch tokens related to popular trends like AI, gaming, RWAs, LSTs, and memecoins. This initiative aims to create new development opportunities and generate protocol fees for dLPs.

With 1-Click Leverage Strategies, users will gain automated access to both long and short positions on popular tokens, marking a significant advancement in on-chain functionality. Leveraging liquidity from money markets for leverage offers more cost-effective funding rates compared to on-chain perpetual exchanges. 

Dual Emissions will present substantial business growth potential. Protocols listing their tokens in the RIZ aim to stimulate supply and demand within the pool, resulting in additional token emissions alongside RDNT. Additionally, Stargate V2 Integration will streamline cross-chain asset lending and borrowing with minimal fees on the Stargate V2 platform.

Radiant is in the final stretch for the launch of v3 and expansion to @base

Active dLPs stand to receive airdrops of 125M RDNT and Layer Zero tokens!

What can you expect in v3 and how to qualify for airdrops?

Keep reading to find out! pic.twitter.com/b2iJ2VFaSh

— Radiant Capital (@RDNTCapital) June 27, 2024

Radiant Capital To Distribute 125M Tokens To Eligible Liquidity Providers

Furthermore, Radiant Capital RFP-33 has approved the distribution of 125 million RDNT tokens to eligible DLPs over a two-year period, with snapshots scheduled in the coming months. Users are advised to participate in dLP activities before these snapshots to qualify for the airdrop. LayerZero snapshots have already been captured, although additional rewards may still be available.

Radiant Capital aims to position itself as a first omnichain money market, enabling users to deposit a wide range of major assets on any major blockchain. It also provides borrowing opportunities for supported assets across multiple networks.

Recently, Radiant Capital approved the RFP-36 proposal to extend its deployment on Base, scheduled for July. Additionally, the company conducted an audit for RIZ, partnering with OpenZeppelin, a cryptocurrency cybersecurity technology and services firm, to address and resolve all high-severity issues identified.

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Asset management company VanEck announced its filing for the first Solana (SOL) exchange-traded fund (ETF) in the United States.

The VanEck Solana Trust is planned to be listed on the Cboe BZX Exchange, with its holdings primarily consisting of SOL tokens. The valuation of its Shares will be calculated daily using the reported MarketVectorTM Solana Benchmark Rate, as outlined in the firm’s S-1 registration statement.

The move comes following recent approvals by the United States Securities and Exchange Commission (SEC) for spot ETFs on Bitcoin and Ethereum. The agency recently greenlighted  19b-4 forms for spot Ethereum ETFs, and the next step involves granting permission on registration statements before these ETFs can commence trading on local exchanges.

ETF analyst at Bloomberg, James Seyffart highlighted that under a new administration in the White House and potential changes at the SEC,  there might be the potential launch of relevant applications around 2025, though uncertainties remain regarding its realization.

First SOL ETF filing in the U.S. Will be interesting to see if other issuers immediately follow suit. Early thoughts are that this only has a shot to launch sometime in 2025 if we have a new admin in the White House and SEC. Even then not guaranteed. https://t.co/I1yoWNpdd4

— James Seyffart (@JSeyff) June 27, 2024

VanEck Identifies Solana As Compelling ETF Candidate, Views SOL As Commodity

Solana operates on open-source software tailored to support diverse applications such as payments, trading, gaming, and social interactions. Its distinctive features include scalability, high speed, and low transaction costs, potentially providing an enhanced user experience across various application scenarios.

According to a statement on social media platform X from Matthew Sigel, Head of Digital Assets Research at VanEck, Solana distinguishes itself by enabling thousands of transactions per second at minimal fees. It utilizes an advanced security model that merges proof-of-history and proof-of-stake mechanisms. These features position Solana as a powerful and user-friendly blockchain software. Its high throughput, low transaction fees, security protocols, and community make it an appealing candidate for an ETF, providing investors exposure to a versatile and new open-source ecosystem.

He also highlighted that VanEck views Solana’s native token SOL as akin to other digital commodities like Bitcoin and Ethereum. SOL serves as payment for transaction fees and computational services on the blockchain. Furthermore, SOL is tradable on digital asset platforms and can be used for peer-to-peer transactions. Meanwhile, its decentralized structure, high utility, and economic viability align with the attributes of established digital commodities. This strengthens the company’s belief that SOL holds potential as a valuable commodity, offering opportunities for investors, developers, and entrepreneurs seeking alternatives to duopoly application stores.

The debate revolving around whether specific cryptocurrencies fall under the jurisdiction of the SEC as securities or under the Commodity Futures Trading Commission as commodities is currently ongoing.

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In anticipation of the upcoming Hack Seasons Brussels event, we had the opportunity to interview Altan Tutar, a Co-Founder and CEO of Nuffle Labs and contributor to NEAR. In this discussion, he shares his insights on the evolving Web3 industry, the usage of ZK technology, and NEAR’s innovative approaches to enhancing the developer experience and broadening blockchain adoption.

Many entrepreneurs are drawn to their field by a specific moment or event. What sparked your interest in this industry, and how has your passion evolved over time?

I started in crypto back in 2021. I began deep-diving into how crypto works and was fascinated, especially coming from Turkey, where we deal with a lot of inflation. Digital money made a lot of sense to me.

I quickly got involved in hackathons, building cool stuff. My first hackathon was in Warsaw, where we created a zkKYC solution. The second one was in New York, where we built something quite simple for DAOs. We won that hackathon, inspiring me to start a new foundation. My initial projects were hacky, involving ZK and smart contracts, helping me get into the space.

You mentioned you’re from Turkey. Can you explain the state of Web3 in Turkey?

An interesting article recently stated that 4% of Turkey’s GDP is in USDT, reflecting the country’s economic situation. Many people hold USD or use USDT for arbitrage due to the unstable Turkish lira. This speculation is part of a broader trend where people seek stability and potential gains in a volatile environment. Right now, Turkey is a major crypto market, especially in centralized exchanges.

Currently popular among the crypto community, DePIN and RWAs have faded zero-knowledge proofs, but this technology is still essential for Web3 development. How is NEAR leveraging ZK technology?

We have a different perspective on ZK. Back in 2020, the use of ZK was banned due to the high costs of computation with provers. Last year, we started exploring ZK more seriously. While the work is currently on hold, we saw ZK as a way to make blockchains more efficient by offloading certain computations off-chain and proving them faster and cheaper. We’re working on ZK-WASM for our sharding design. On the base layer, ZK can enhance efficiency, and on top of that, we’re seeing applications like ZK ID solutions.

Are there other solutions you use besides ZK to reduce costs, given its expense?

Yes, we also focus on other technologies. ZK technology is about trust in computation. I’ve leaned more toward cryptoeconomic security with EigenLayer. There’s a spectrum from ZK’s trust in computation to EigenLayer’s cryptoeconomic security. Hence, we’re building services using Eigenlayer to balance trust and cost.

NEAR touts its “developer-friendly” environment. What are some concrete ways NEAR makes dApp development easier compared to other platforms?

One of the key reasons I started to work with NEAR in 2022 was its developer-friendly approach. A notable feature was the JavaScript SDK for smart contracts, making it accessible to almost every programmer, unlike Solidity and Rust, which are more specialized. 

Additionally, NEAR uses a WASM environment, which is more general and widely used across the internet compared to EVM, which is specific to crypto. This allows us to onboard developers from Web2 to Web3 without extensive retraining. We also offer a command-line interface, making it easy for developers to deploy and interact with contracts.

With NEAR Protocol being open source, how does the team incentivize and reward external contributions to the codebase?

We have something called DevHub, a collective that contributes to the NEAR protocol. It started as a DAO but evolved into a community. All tools are open-source, and contributions are incentivized, particularly in DevRel. We’ve even hired contributors who showed exceptional work. Good contributions are eventually rewarded retroactively.

NEAR is taking a “blockchain OS” approach. What functionality does this provide that a standalone blockchain cannot?

We adopted the blockchain OS approach during the last bear market. It was eventually refined to chain abstraction. This means providing a seamless entry point for users to interact with multiple blockchains without needing to bridge them. We use technology like chain signatures, allowing one NEAR account to drive multiple blockchain accounts (e.g., Ethereum, Bitcoin). This approach simplifies interactions between users and developers.

What attracts consumers to the NEAR protocol, considering some believe the focus in the industry is more on technology than consumers?

We have a lot of users, and our growth strategy has been akin to B2B2C. We work with businesses that already have a large user base and convert them into blockchain users. Our developer tools facilitate easy integration into existing apps, attracting both businesses and consumers. For example, partnerships with apps like Sweatcoin, KaiKai, and HotWallet have helped us grow our user base.

Bridging the gap between Web2 and Web3 is now a hot topic. What cross-chain integrations or tooling does NEAR provide to aid this transition?

Yes, one of NEAR’s cool features is FastAuth, which allows users to log in with a Google account, similar to Web2 logins. This eliminates the need to deal with keys. Unlike Metamask, NEAR’s account model allows users to interact without extensive sign-ups, making the transition smoother.

How does NEAR Protocol’s collaborative approach with other blockchain projects, like Polygon, enhance its capabilities?

In 2021 and 2022, being an “Ethereum killer” was a narrative, but we’ve adapted by exploring Ethereum Layer 2s and data availability portions. We outsource NEAR’s data availability to other roll-ups, enabling us to collaborate with other L1 and L2 teams like Polygon and Optimism. This adaptability keeps us relevant and allows us to educate the market and position our product accordingly.

With the upcoming array of events, what are your plans for the Hack Season Brussels? Can you share any insights?

From our perspective, we’ll introduce our work, including NEAR DA, which makes rollups cheaper. We already have a top-17 rollup building on NEAR DA. When our product is ready, we’ll bring fragmentation with the Fast Finality Layer, allowing fast transactions and messages between rollups with EigenLayer security. I’m excited about sharing more about NEAR and exploring AI applications.

At large events like Ethereum CC, what topic do you think needs to get more attention from the crypto community?

While ZK and others get a lot of attention, real-world assets (RWA) seem to need to be more represented. For example, USDC is a real-world asset. Integrating RWAs into crypto can bring more capital into the space. Projects like EigenLayer are creating new primitives by securing assets like USDC. The use of RWAs to increase on-chain assets is fascinating and deserves more attention compared to the constant focus on Layer 2.

The post Leveraging Zero-Knowledge Proofs: NEAR Protocol’s Strategy for Enhanced Blockchain Efficiency appeared first on Metaverse Post.

Technology company Lenovo announced the release of its new software platform, Lenovo Daystar, developed by the Lenovo Research Institute’s Shanghai branch. The platform is a metaverse based on Artificial Intelligence Generated Content (AIGC) technology.

It enables fast, low-code, drag-and-drop metaverse building and offers end-to-end solution delivery through integration with self-developed equipment, including Lenovo Daystar XR glasses, robots, and smart cameras. The platform supports a range of functions, such as robot deployment simulation, XR content coordination, AI detection, and digital twins.

Providing a user-friendly interface allows individuals to create complex virtual environments and interact with physical devices.

Fueled by AIGC technology, it achieves cost-effective, high-quality 3D reconstruction, enabling rapid production of digital twins. This technology digitizes physical environments quickly and uses multi-source heterogeneous data to facilitate unified operations across various devices and application scenarios. 

Furthermore, Daystar World introduces the concept of building scenarios in virtual space. This approach requires only a set of low-code building tools, enabling complex business processes to be implemented through simple operations, thereby lowering the barrier for enterprises to utilize the platform. Users can facilitate processes tailored to the needs of their businesses through an intuitive interface and straightforward operations, enhancing work efficiency and accuracy. Additionally, the platform offers scenario packages for various industries, such as education, manufacturing, and more, which include industry models to minimize the need for extensive modeling.

Combining the strengths of Lenovo’s hardware, the Daystar World supports integration with smart devices to facilitate coordinated deployment between the physical and virtual worlds. Virtual tasks can be directly transmitted to real devices for execution and displayed as digital twins, enhancing the virtual-real interaction experience. This allows companies to simulate and test in the virtual environment, ensuring optimal results during actual deployment and improving the safety and accuracy of operations.

Currently, the platform has secured numerous prominent clients including State Grid Corporation of China, Geely, Shanghai Natural History Museum, and China Southern Power Grid, among others. 

Lenovo Doubles Down On AI: the Company Plans To Integrate Tianxi AI LLM Into Consumer Devices

While continuing to expand its non-PC business sectors, the company is also actively exploring opportunities in AI.

Recently, Lenovo announced its plans to intensify its focus on AI with a new strategy to integrate various devices with a single AI large language model (LLM). The company aims to embed its self-developed Tianxi AI LLM into a range of devices, including AI PCs, AI smartphones, AI tablets, and various AI-powered Internet of Things equipment. This strategy aims to offer users a unified experience of having a “personal AI assistant” across different scenarios in work, study, and everyday life.

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Blockchain data infrastructure provider Synternet (SYNT) announced the launch of its mainnet on Cosmos. This milestone, marking the completion of its Monaco phase, is set to fully activate the potential of Synternet’s token, SYNT.

“The launch of Synternet’s mainnet on Cosmos is not just a technical milestone – it’s the beginning of a new era for the decentralized data economy,” said Jonas Simanavicius, CTO of Synternet, in a written statement. “With SYNT, we’re providing real utility, enabling users to pay for data services at reduced fees and fostering a more inclusive and efficient ecosystem,” he added.

With the launch of Synternet’s mainnet, monetary value for data within its multi-chain ecosystem is activated, allowing for the practical utilization of its token. This also marks progress in Synternet’s growth-focused Pikes Peak roadmap and provides builders the opportunity to craft new decentralized applications (dApps) that leverage real-time, trustless data streams from all major blockchains.

With its ecosystem and diverse array of projects, tools, and services, Cosmos offers Synternet a solid foundation for further growth. Additionally, Synternet’s launch on Cosmos brings benefits such as reduced gas fees and faster transaction processing compared to other networks, emphasizing the project’s commitment to democratizing data access.

The SYNT token functions as the primary payment method for data services within Synternet. Upon launch, users have the capability to utilize SYNT for accessing and paying for real-time data streams sourced from diverse publishers across multiple blockchains. Synternet also provides a staking mechanism for token-holders, enabling them to participate in voting on proposals and influencing protocol upgrades, feature prioritization, and resource allocation.

What Is Synternet?

It is designed to support modular and interoperable data infrastructure across major blockchain networks. Central to its architecture is the Data Layer that acts as a customizable execution layer bridging different blockchains. Meanwhile, Synternet‘s AEAs enable builders to create adaptable, application-specific solutions capable of processing data from various blockchains.

Recently, the platform has incorporated the peaq network into its Data Layer, enabling access to peaq’s on-chain data on its platform, encompassing transactions and data flows from real-world dApps. The collaboration aims to empower developers to build dashboards, advanced analytical tools, and machine learning applications. It also enables the use of an events-based architecture within the Economy of Things framework on peaq.

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Solana-based decentralized exchange (DEX) Zeta Markets (ZEX) announced the launch of its native token and initiated airdrop claims. The airdrop aims to reward early adopters and foster sustained engagement with the protocol. It also marks the beginning of community ownership and governance within Zeta Markets.

Claims are now open and will continue for the next ninety days, closing at 09:45 UTC on September 25th.

Users have the flexibility to choose between claiming and staking their tokens in a single action to maximize benefits through the Diamond Hand Claim. This includes receiving the full allocation of the 7-day Bonus immediately, becoming eligible for increased rewards in the Staking Airdrop, gaining immediate access to enhanced trading rewards from Epoch 1, and obtaining augmented governance rights.

Alternatively, users can opt for an immediate claim, which allows them to receive the airdrop tokens at any time, with the 7-day bonus rewards distributed linearly over the week following the token generation event (TGE). After claiming, users have the option to stake their tokens to participate in the Staking Airdrop and benefit from enhanced incentives and governance power in subsequent epochs.

The $ZEX Claim is Live!

Claim your airdrop at https://t.co/MDMvOn4mjo.

Welcome to the future of decentralized trading. pic.twitter.com/it7ZyVOvdu

— Zeta Markets (@ZetaMarkets) June 27, 2024

ZEX Staking Opens Post-Token Launch. Early Adopters Are Eligible For Staking 

Additionally, following the token launch, ZEX staking is now open to all users, with early participants eligible for the Staking Airdrop. A total of 2% of the token supply, equivalent to 20 million ZEX, has been allocated to those who stake ZEX during the Genesis Epoch, which concludes at 09:59 UTC on July 25th. The Staking Airdrop rewards will be allocated at the end of the Genesis Epoch in the form of staked ZEX or gZEX tokens, which vest over a period of three months.

Beginning from Epoch 1 onward, ZEX stakers will benefit from increased trading rewards, with the potential for greater governance influence in subsequent periods. The rewards scale with the amount of ZEX staked and the duration of the staking commitment.

After its release, ZEX also became accessible on multiple cryptocurrency exchanges, including Bybit, Backpack, Gate.io, KuCoin, Cube, MEXC, Raydium, and Jupiter.

Zeta Markets is building a perpetual exchange platform designed specifically for swaps trading across a range of major cryptocurrencies. The project has attracted backing from notable investors such as Wintermute, Solana Ventures, Jump Capital, and Electric Capital. According to information on the platform’s website, Zeta Markets’ trading platform has overseen a trading volume surpassing $3.8 billion to date.

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Decentralized exchange (DEX) operating on the Layer 2 network Blast, Ring Protocol announced the launch of the native token RING on its platform. Now, users can convert their Ring Points into the RING token through the Redeem section of the exchange. Additionally, Ring Earn users have the ability to claim and convert RING within the Earn section. Furthermore, Ring has introduced a RING token pool.

As a decentralized finance (DeFi) protocol prioritizing asset utilization, Ring Protocol has recently exceeded a total value locked (TVL) of $500 million, as announced on its social media platform X. The RING token model provides incentives for liquidity providers on the platform. Moreover, the exchange maintains user engagement with periodic airdrops.

Currently, users seeking to acquire the RING token can do so through activities such as farming, providing liquidity, participating in community events, and engaging in campaigns, among other opportunities.

Ring Token is Now Live!

Ring Protocol proudly announces the official launch of the $Ring on https://t.co/HId5Y7pG4K!

To convert your Ring Points into $Ring here https://t.co/NUiQPjt2cU

Ring earn users can claim and convert $Ring here https://t.co/IH07b0kcbn pic.twitter.com/p7PtsnEzOh

— Ring Protocol (@ProtocolRing) June 27, 2024

Over 100,000 Wallets Registered: Ring Protocol and Its Top Position Among Blast DApps By Volume In June

Ring Protocol aims to build a universal liquidity protocol aimed at maximizing asset utilization. Currently, there are billions of idle assets stored on-chain, while thousands of cryptocurrency projects face liquidity shortages. To address these issues, Ring Protocol is introducing a range of products designed to transform the DeFi ecosystem. 

Its offerings encompass Ring Swap, which facilitates an automated market maker (AMM) on Blast, optimizing asset utilization for liquidity providers (LPs), Ring Launchpad, representing a platform that connects underutilized assets with projects in need of liquidity, and FEW (Financial Elastic Wrapping) Protocol, an asset layer adaptable to various DeFi protocols.

Launched earlier this year, Ring Protocol has emerged as a prominent DEX on Blast, incorporating more than six protocols and exceeding a milestone of over 100,000 registered wallets. The platform is integrated with several cryptocurrency wallets, including OKX wallet, Trust Wallet, Coin98, and Bitget Wallet. Throughout June, Ring consistently achieved the top position as the leading decentralized application (dApp) on Blast by volume, surpassing Juice, Thruster, and Blur multiple times.

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Cryptocurrency exchange WEEX announced its intention to launch the second phase of its ZKsync Launchpool activities, providing participants an opportunity to earn a portion of the total 37,000 ZK tokens pool.

From 16:00 UTC on June 30th to 4:00 UTC on July 3rd, users can invest in WXT to share ZK airdrop rewards based on their effective investment ratio. The minimum investment required per account is 1,000 WXT, while the maximum is set at 500,000 WXT.

Users are encouraged to commit WXT tokens through the launchpool to take part and earn ZK tokens. The invested WXT tokens will remain accessible for participation in other projects concurrently, without any locking or staking requirements.

After the completion of the WXT committing period, airdrop rewards will be automatically calculated for each participant. The larger the participant’s effective commitment percentage, the greater their share of the reward pool will be.

WXT serves as the platform currency for WEEX, functioning as an incentive token following the ERC-20 standard. It is specifically designed to reward partners, contributors, and active members of the WEEX community. Participation in Launchpool activities is among the exclusive benefits available to WXT holders.

ZKsync Launches ZK Token, Conducts Airdrop And Secures Major Exchange Listings 

ZKsync is a Layer 2 protocol on Ethereum that enables scalable and cost-effective payments, utilizing zero-knowledge rollup technology. Developed by Matter Labs, it prioritizes user-centric features within its platform.

Last week, ZKsync launched its ZK token, airdropping it to early users and contributors. Additionally, it was listed on several cryptocurrency exchanges, including Binance, Bybit, Gate.io, and KuCoin.The token currently boasts a market capitalization exceeding $554 million and a fully diluted value estimated at around $3.1 billion. The ZKsync token has a maximum supply of 21 billion, with over 3.6 billion tokens currently in circulation.

At the time of writing, ZK is trading at $0.152, marking a decline of over 9.80% over the past 24 hours, according to data from CoinMarketCap.

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Zero-knowledge interoperability infrastructure, Polyhedra Network (ZKJ) announced that it would soon release its first zkBridge network extension proposal (NEP), enabling token stakers to have the opportunity to participate in voting and earn rewards. More details on participation will be provided at a later date.

“Following the decentralization of governance for zkBridge via the Polyhedra Network token, all future decisions to add zkBridge support to new networks will necessitate a proposal and successful vote by the community,” mentioned the team behind the project in a post on X.

As new blockchains are launched, the demand for zero-knowledge interoperability with these networks increases. The zkBridge NEP governance mechanism will facilitate support for additional networks. Polyhedra Network emphasized that, although its goal is to ensure zero-knowledge secured interoperability across both Web3 and Web2, it intends to proceed cautiously to preserve the integrity of its ecosystem.

The announcement highlighted that any future decisions to extend zkBridge support to new networks will need to be made through community proposals and voting. The zkBridge NEP will encourage the community to weigh both the benefits and risks of integrating new blockchains into existing networks, considering factors such as network health, liquidity accessibility, and community growth.

Introducing zkBridge Network Expansion Proposals (NEP)

Following the decentralization of governance for zkBridge via the Polyhedra Network token, all future decisions to add zkBridge support to new networks will necessitate a proposal and successful vote by the community. pic.twitter.com/t1EPbUwleJ

— Polyhedra Network (@PolyhedraZK) June 27, 2024

What Is zkBridge?

Polyhedra Network is developing infrastructure to enhance interoperability, scalability, and privacy within Web3. Utilizing advanced zero-knowledge proof technology, the company offers efficient solutions for asset transfers, message passing, and data sharing between Web2 and Web3 systems.

Among the primary products of Polyhedra Network is zkBridge, a zero-knowledge blockchain interoperability protocol designed to facilitate cross-chain transactions. Since its launch last year, zkBridge has enabled over 20 million cross-chain transactions and generated more than 40 million zero-knowledge proofs.

Recently, the decentralized protocol for rollups, AltLayer, integrated zkBridge, facilitating trustless and secure interoperability between various blockchain networks, including Ethereum, Arbitrum, and BNB Chain. This integration allows AltLayer rollups to connect with over 30 various blockchain networks, providing developers with the necessary tools to build a wide range of decentralized applications (dApps) and ensuring a seamless user experience.

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Decentralized exchange (DEX) PancakeSwap announced it has launched an AI prediction market on Arbitrum. This market integrates AI-driven price information sourced from the decentralized AI network Allora. Allora enables applications to utilize advanced AI capabilities that are continuously enhanced through a network of machine learning (ML) models.

The new tool enables traders to predict the price fluctuations of tokens like ETH at ten-minute intervals, offering opportunities to win a portion of the prize pool for each round.

To utilize the feature, users should navigate to the PancakeSwap platform, choose the Prediction section, opt for Arbitrum, and choose a round in which they wish to take part. Individuals can base their predictions on AI forecasts or make their own prognoses. They are then prompted to enter their prediction amount, confirm transactions, and sign in to their wallet. Following the round closure in ten minutes, users can collect any winnings.

PancakeSwap’s AI-Prediction Market is now live on @Arbitrum, powered by @AlloraNetwork

Predict $ETH price movements to win a share of the prize pool

10-week campaign with 60,000 ARB in rewards
Up to 100% Fund Protection

Predict, compete, and win on PancakeSwap… pic.twitter.com/C49YycWlfj

— PancakeSwap v4 (@PancakeSwap) June 26, 2024

PancakeSwap Launches Three-Month Campaign With 60,000 ARB Reward Pool For ETH Price Predictions

To celebrate the launch, PancakeSwap has initiated a three-month campaign where participants are encouraged to forecast the price movements of ETH to compete for a share of a total of 60,000 ARB in rewards.

The activity comprises four weekly tasks, each starting and concluding weekly. Notably, participants can receive refunds of up to 100% of their losses based on total eligible losses, with each user’s losses protected by a weekly reserve of 3,000 ARB.

Additionally, the top ten users with the highest volume of predictions will collectively share a reward pool of 1,500 ARB. To qualify, users must accumulate a minimum volume of $1,000 weekly. Furthermore, each week, ten randomly selected users who make at least three predictions will each win 100 ARB.

Also, the top two users with the highest net winnings will each win 500 ARB weekly. To participate, individuals must meet the weekly minimum accumulated volume requirement of $1,000.

PancakeSwap is a decentralized finance (DeFi) platform designed for cryptocurrency trading, reward earning through staking and farming, participation in lotteries, and governance voting. It operates on the Binance Smart Chain, prioritizing efficient transactions with low fees.

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Web3 payments infrastructure provider Transak announced a strategic partnership with Sequence, a Web3 development platform for games. This collaboration aims to equip Sequence and its ecosystem of gaming partners with Web3 payments and onboarding infrastructure.

Sequence is a leading development platform in the Web3 gaming sector, offering a comprehensive suite of tools and services to streamline the integration of Web3 features into games.

“We are thrilled to partner with Sequence and continue to expand our best-in-class payments infrastructure in the world of Web3 gaming,” said Sami Start, CEO and co-founder of Transak, in a written statement. “Our shared vision of simplifying blockchain interactions for users aligns perfectly, and we look forward to empowering the next generation of gamers and developers,” he noticed.

The integration aims to streamline the development of games and decentralized applications (dApps), making the user experience more straightforward for gamers. This will enable them to concentrate on gameplay without the complexities associated with blockchain transactions.

Transak And Sequence Collaboration To Enhance Web3 Gaming Experience And Offer Wider Range Of Crypto And Payment Flows

Transak is one of the most compliant and largest Web3 payments infrastructure providers globally, serving more than 5 million users across 160 countries. It supports over 350 platforms, offering API-driven solutions for fiat-to-crypto on/off-ramps, non-fungible token (NFT) checkouts, and other services that streamline know your customer (KYC) procedures, compliance, payment methods, and customer support. 

Its infrastructure is specifically designed for high-performance dApps and gaming use cases. The platform’s capacity to manage high transaction volumes ensures smooth and reliable performance, even during peak usage times. Thus, its compatibility with Sequence’s gaming environment will provide a seamless experience for players, allowing developers to incorporate complex blockchain features without detracting from the enjoyment of the game.

Furthermore, its infrastructure is designed to adhere to global regulatory standards, ensuring that all transactions are secure and transparent. This includes KYC and anti-money laundering (AML) checks, providing a safe environment for users. By integrating Transak’s API into its developer platform, Sequence will be able to support both Ethereum Virtual Machine (EVM) and non-EVM blockchains, encompassing Ethereum, Polygon, and Binance Smart Chain. This multi-chain capability will allow Sequence to offer a wide range of cryptocurrencies and payment flows, enhancing the overall Web3 gaming ecosystem for gamers.

“Integrating Transak’s payments infrastructure with Sequence is a significant step towards making blockchain gaming more accessible and enjoyable for everyone,” said Taylan Pince, Chief Technology Officer of Sequence, in a written statement. “This partnership will enable us to offer a frictionless experience to our users from the moment they leverage Sequence-powered solutions to their in-game transactions,” he added.

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Blockchain data infrastructure provider Covalent announced that it has raised $5 million in a strategic funding round led by RockTree Capital, with participation from CMCC Global, Moonrock Capital, and Double Peak Group.

With this new funding, the company intends to expand its presence in Asia and propel the adoption of Long-Term Data Availability in regions encompassing China, Korea, and Singapore. Additionally, it plans to launch the New Dawn Initiative, involving a comprehensive rebranding effort aimed at enhancing alignment with its crypto-native community.

“As an emerging crypto hub, Asia has shown immense potential to become the leader of the next bull run. With the Ethereum Wayback Machine as a gateway to permanent data, we are excited to bring Long-Term Data Availability to Asian countries to boost local adoption and innovations,” said Ganesh Swami, co-founder of Covalent, in a written statement. “Covalent’s mission is to democratize access to all blockchain data, empowering builders to shape a decentralized future. This only marks the beginning of The New Dawn, a series of Covalent upgrades to strengthen our commitment to Data Availability and Decentralized AI,” he added.

Backed by prominent regional investors, Asian developers, and users will leverage Covalent’s Ethereum Wayback Machine (EWM) and comprehensive dataset to foster innovation and growth. Furthermore, in addition to Ethereum and AI applications, Covalent provides a wide array of practical use cases, including automated trading for decentralized finance (DeFi) and scaling GameFi projects aimed at broader adoption, which will further enhance their experience.

Covalent Welcomes Arthur Hayes As Strategic Advisor To Enhance Ethereum’s Verifiability For AI 

It operates as a modular data infrastructure layer focused on addressing challenges in blockchain and AI, encompassing verifiability, decentralized AI inference, and Long-Term Data Availability. Meanwhile, the EWM guarantees secure, decentralized access to transaction data on the Ethereum blockchain.

The EWM fulfills the essential requirement for permanent and verifiable data, ensuring the overall security and integrity of Ethereum‘s data. Furthermore, by integrating with over 225 blockchains and 300,240 million wallets, Covalent establishes the biggest structured data pool in Web3, which fuels the advancement of Decentralized AI. By providing secure and reliable data, the EWM enhances the speed of training and inference of AI models while mitigating security risks.

Recently, Covalent unveiled its new strategic advisor, Arthur Hayes, with whom the firm collaborated to focus on safeguarding Ethereum’s historical data to ensure accessibility and transparency across the ecosystem’s entire history.

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Blockchain developed by the cryptocurrency exchange Binance, BNB Chain announced the release of the BEP-341 proposal titled “Governance Enabled Consecutive Block Production.” It aims to improve the transaction processing capacity of the Binance Smart Chain (BSC) by enabling validators to produce consecutive blocks to meet the growing demands of the dynamic BSC ecosystem. The proposal is now open for community discussion as well as feedback on the BNB Chain forum.

BNB Chain operates as a decentralized ecosystem driven by community participation, featuring several interconnected blockchains. These include the BNB Smart Chain (BSC), which supports Ethereum Virtual Machine (EVM) compatibility and facilitates a multi-chain environment through Layer 2 solutions like opBNB. Furthermore, it incorporates the BNB Beacon Chain, serving as its staking and governance layer, and BNB Greenfield, a decentralized data storage network aimed at enhancing data security and accessibility within the ecosystem.

In the BSC, every epoch comprises several slots where validators take turns in a predetermined sequence to secure priority in production of blocks. The modification aims to distribute block-producing rights differently by allowing each validator to make blocks for a set number of slots during the round. This change is intended to increase transaction processing efficiency on the network. Additionally, subsequent blocks in a validator’s sequence may circumvent the transaction validation process, concentrating solely on processing new transactions.

This adjustment results in a notable increase in Transactions Per Second (TPS), especially when the number of consecutive blocks is ranging from 3 to 5.

BEP-341 Introduces Adjustments To Enhance Performance And Security

Furthermore, BEP-341 introduces adjustable governance parameters designed to balance performance enhancements with critical security measures, aiming to mitigate any associated risks.

To prevent maximal extractable value (MEV) extraction during block production, BEP-341 adjusts the transaction fees’ split to the SystemRewardContract in proportion to the block number, up to the limit set by the systemRewardAntiMEVRatio. Such a method ensures that validators efficiently process transactions, reducing the potential for MEV abuse and promoting fairness across the network.

To counteract MEV abuse, the AntiMEV Ratio modifies how transaction fees are distributed to the SystemRewardContract. As validators gain consecutive block priority, the allocation of transaction fees to the SystemRewardContract rises linearly, with a cap determined by the systemRewardAntiMEVRatio. Initially set at 0, any modifications to this parameter also require governance approval.

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