Oct. 27: DYdX “v4,” which launched this week as a new layer-1 blockchain built on Cosmos technology, will rely on the DYDX token “for staking, securing the network, and assisting with governance on the dYdX Chain,” according to a press release from the dYdX Foundation. DYDX has been serving as the governance token for the dYdX “v3” layer-2 protocol on Ethereum, but there will now be a “one-way bridge from Ethereum to the dYdX Chain.” According to a message from the team, there’s another key element of the announcement: “All protocol fees, including trading and transaction fees, will be distributed to validators and stakers in USDC (so not in their native token).” $DYDX $ATOM $ETH
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Neo to Develop EVM-Compatible Sidechain
Oct. 27: Neo, an open-source blockchain platform using a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism, unveiled plans to develop a new sidechain compatible with the Ethereum Virtual Machine (EVM) standard, according to a press release: “Neo Sidechain inherits key Neo features, including its robust dBFT consensus mechanism, resulting in faster transactions, improved scalability, and enhanced fairness… The Neo-VM multi-language development environment enhances flexibility for developers to write smart contracts in their preferred language. The sidechain is purpose-built to resist MEV attacks like frontrunning and sandwich attacks.”
Rise In Acquires Web3-Focused EdTech Company BlockBeam
Oct. 27: Rise In, a leading educational platform that onboards Web2 developers to Web3, “has further expanded its 200k+ talent community with the acquisition of U.S.-based BlockBeam,” according to a press release. The team sent the following message: “This adds about 1,000 Web3 developers from the U.S. Rise In (rebranded from Patika) is also expected to secure funding from OC-X (the Open Campus Accelerator) for EdTech founders. This also expands Open Campus IDs to the U.S. by proxy (Proof of Education). Open Campus ID is a Soulbound Token that is a virtual representation of learners’ online personas.”
Floki Pounces on Trillion Dollar RWA Narrative With New TokenFi Platform
Oct. 27: Floki developers on Friday were set to launch a tokenization platform dedicated to the rising real-world asset (RWA) segment in an effort to position the former memecoin project as a serious DeFi contender. Called TokenFi – with token (TOKEN) as the native digital asset – the platform lets users launch any cryptocurrency without writing code. Users can then raise funds from the Floki community, connect with exchanges and market makers for liquidity, and float tokens tied to real-world assets that are not deemed securities.
Ethereum’s Dencun Upgrade Is a Step Toward a Scalable Settlement Layer: Goldman Sachs
Oct. 27: Ethereum’s Dencun upgrade, likely to take place in first-quarter 2024, is the next step in the blockchain’s journey to becoming a scalable settlement layer, Goldman Sachs (GS) said in a note Thursday. Proto-danksharding will also “serve to set the scaffolding for future scalability upgrades, including danksharding, as part of the blockchain’s ‘Surge’ roadmap,” the report said. $ETH
Hi’s Mastercard Debit Card Adds Option to Spend Sandbox’s Token SAND
Oct. 27: Users of the hi debit Mastercard can now spend metaverse platform Sandbox’s SAND token in eligible markets in the European Economic Area, according to a Wednesday announcement posted on X. The card already allows users to spend bitcoin (BTC), ether (ETH) and USDT. Sandbox is a subsidiary of metaverse gaming and venture capital giant Animoca Brands, which invested $30 million into hi, a crypto payments application, in July. Hi provides banking services, allowing users to transact in crypto or fiat, as a digital-only application, operating as a neobank.
Horizen Launches EVM-Compatible ‘EON’ Sidechain on Mainnet
Oct. 26: Horizen announced the launch of the Horizen EON sidechain, compatible with Ethereum’s Ethereum Virtual Machine (EVM) standard, according to a press release: “While Ethereum has been driving broad adoption of DeFi ecosystems and smart contracts, Horizen has been developing its ZK-powered cross-chain protocol and horizontal scaling solution, Zendoo, that allows a wider adoption of blockchain technology with full customization at the protocol level. With the addition of Horizen EON, Horizen now also opens its fast-growing ecosystem up to more opportunities for efficient development and usage of a wide range of dApps and services.” $ZEN
IoTeX Blockchain to Integrate With Solana for ‘IoT-Connected Projects’
Oct. 26: IoTeX, a blockchain compatible with Ethereum’s Ethereum Virtual Machine (EVM) standard, announced its integration with Solana, “providing real time analytics on Solana-connected hardware devices,” according to a message from the team. “The integration with Solana enables verifiable off-chain data via IoT-connected projects built on Solana like Helium, Render and Hivemapper, into its transparent data analytics platform. By bringing Solana into the IoTeX platform, any Solana-connected project and related devices will now be visible on DePINscan, a visibility platform that empowers investors and decision-makers with public data on DePIN projects.” $SOL
Atato, MPC Crypto Custodian, Integrates With XRP Ledger, Cronos
Oct. 26: Atato, an institutional-grade MPC crypto custodian, “announced an integration with Cronos Chain, the leading EVM-compatible chain built on the Cosmos SDK, for DeFi and GameFi, as well as XRP Ledger, the open-source, energy efficient, and decentralized blockchain powered by a global developer community, for its pioneering BYOC network,” according to a press release. “The partnership aims to make a substantial impact with its Bring-Your-Own-Chain (BYOC) offering. This is the first custody solution of its kind to enable one-click integration of any chain, empowering a multi-chain future for driving mainstream adoption. BYOC makes Atato the only custodian to secure and support tokens across ALL EVM and non EVM chains without the need of complex coding.” $CRO $ATOM $XRP
Solana Labs Launches Incubator Program
Oct. 26: Solana Labs has officially launched the Solana Incubator program, according to a press release. “Resources offered through the Solana Incubator program include hands-on engineering, go-to-market and fundraising support from Solana Labs. This includes feedback on user experience design, brand amplification through Solana Labs marketing channels, connections to the network of projects within Solana Labs, and guidance on integrations with the Solana blockchain.” $SOL
Ramp Enables ETH, USDC Purchases Directly to Linea
Oct. 26: Ramp, a financial technology company, announced a strategic partnership with Linea, a zkEVM rollup backed by the Ethereum developer Consensys. “In the first stage of this strategic partnership, users across 150+ countries and territories are now able to purchase both ETH and USDC directly to the Linea Network via Ramp widget, available through Ramp’s extensive network of integration partners,” according to a press release. $ETH $USDC
Chainstack Lauches DeFi API for Real-Time Data
Oct. 26: Chainstack, a leading Web3 infrastructure provider, announces the launch of the DeFi API, its “solution to streamline access to real-time decentralized finance data,” according to a message from the team. “Chainstack’s DeFi API enables seamless access to real-time data from every major decentralized finance protocol, including Uniswap, Lido, Avee, Compound, PancakeSwap, SushiSwap and many others. The DeFi API eliminates the need for developers to write custom indexers, manage databases, pay for archival node requests, or handle chain reorganizations. Instead, developers can access a simple, ready-to-use API through GraphQL.” $UNI $SUSHI $LDO $COMP $CAKE
Contango Launches on Polygon PoS, Ethereum
Oct. 26: Contango Protocol, a decentralized market specializing in crypto derivatives, has expanded to Ethereum and the Polygon PoS network, according to a message from the team, after unveiling its “cPerps” on Aave earlier this month. $ETH $MATIC
Web3 Platform DSCVR Launches in Solana Ecosystem
Oct. 26: DSCVR (pronounced “discover”), a Web3 social media and community building platform, announced its launch on the Solana ecosystem, according to a press release. “Launching on Solana will allow DSCVR to introduce and integrate its core SocialFi functionality – combining the principles of social media and decentralized finance – to the platform. Users will be able to connect to their Phantom wallet, receive airdrops, view and transact assets, display verified PFPs and create token- gated communities… Upon launch, selected alpha integrations including Magic Eden, FamousFoxFederation, Blocksmith Labs and SharkyFi will enable digital asset transactions in the DSCVR feed, within communities and through user-curated galleries.” $SOL
Hacken Says Crypto Hacks Doubled in Q3 to $720M
Oct. 26: The blockchain security firm Hacken released a report showing that the crypto sector witnessed 117 security breaches, causing losses of $720 million during the third quarter. That compares with 131 hacks for losses of $327 million during the second quarter. According to a message from the team: “Access control attacks were the most damaging, while rug pulls were the most frequent. Over 90% of the breaches involved projects without verified audits. In two more cases, exploited files were out of audit scope. Hacken’s report exposes ‘token factories,’ calls out flawed audits, and urges renewed vigilance.”
Oct. 26: Deutsche Bank and Standard Chartered’s SC Ventures are testing a system that will allow blockchain-based transactions, stablecoins and central bank digital currencies (CBDCs) to talk to one another, taking an approach similar to the SWIFT messaging layer in legacy banking infrastructure. The banks are running a series of test cases, including transferring and swapping USDC stablecoins, on the Universal Digital Payments Network (UDPN), a permissioned blockchain system composed of validator nodes run by an alliance of banks, financial institutions and consultancies. The system, created by tech consultancy GFT Group and Red Date Technology, co-founder of the Chinese Blockchain-Based Service Network (BSN), instructs and allows transactions to occur across a spectrum of networks, ranging from stablecoins on public blockchains to CBDCs.
Edited by Bradley Keoun.
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