Author: chainwire

Singapore, Singapore, March 12th, 2024, Chainwire

In an unprecedented leap forward for the blockchain industry, zkLink is proud to announce the public mainnet launch of zkLink Nova, the industry’s first Aggregated Layer 3 zkEVM rollup network based on zkSync’s ZK Stack & zkLink Nova. zkLink Nova unifies liquidity and assets from Ethereum and Layer 2 rollups onto one interoperable platform, providing developers with a zkEVM-compatible decentralized application (dApp) deployment through the ZK Stack Hyperchain.

Being an Aggregated Layer 3 Rollup, zkLink Nova addresses the three major roadblocks that have restricted scaling across the Ethereum ecosystem – liquidity fragmentation across Layer 2 blockchains, complexities associated with multi-chain dApp development, and poor user experience due to the isolation of assets and applications across chains.

Layer 2 Ecosystem Collaboration

The cornerstone of the zkLink Nova mainnet is its comprehensive integration with leading Layer 2s, including Arbitrum, Linea, Manta, Mantle, and zkSync. zkLink Nova acts as a connective layer between the Layer 2 Rollups, enhancing liquidity and asset transfers across the Ethereum ecosystem.

“By leveraging the strengths of zkSync’s ZK Stack & Linea’s ZK Proof-verification capabilities, Nova is stack agnostic and is able to connect to any ZK & OP Layer 2,” said Vince Yang, CEO and co-founder of zkLink. “This represents a major milestone for both zkLink and the wider Ethereum ecosystem as DApps will have access to broader liquidity and more users, potentially unlocking exciting new use cases for their existing L2 assets.”

The integration of Layer 2s with zkLink Nova underscores a shared vision for a more unified and efficient blockchain ecosystem. zkLink Nova’s role in pioneering the Aggregated Layer 3 concept is the answer to the Layer 2’s dire need for more interconnection among ecosystems. The general purpose architecture in zkLink Nova’s Aggregated Layer 3 enables developers to easily build, deploy and scale dApps using Solidity smart contracts, saving them time and resources.

Securing the Future of Blockchain with ZK Proofs

Nova’s Aggregated Layer 3 environment removes bridges and gas fees from the equation, reducing security risks and improving user experience. By utilizing ZK Proofs in its architecture, every transaction on Nova undergoes verification before it is processed, giving the zkLink Nova mainnet Ethereum grade security.

“The Nova Aggregated Layer 3 mainnet utilizes Linea as the primary rollup for ZK proof-verification through zkLink’s Nexus settlement layer technology. Being secure, EVM-equivalent and cost effective, Nova leverages Linea’s ZK-Rollup for faster multi-chain state synchronization and hard finality that settles on the Ethereum network,” said Linea Product Lead, Declan Fox. 

For DApp users, zkLink Nova removes complexity and simplifies asset transfers across Ethereum and Layer 2s while keeping transactions secure. DApp users can directly deposit their assets from Ethereum or any of the integrated Layer 2s into zkLink Nova’s unified platform to transact seamlessly or interact with its ecosystem of dApps, greatly enhancing the user experience for all.

The mainnet launch of zkLink Nova is the first of its kind in solving Ethereum’s liquidity fragmentation problem while simplifying multi-chain complexities. By uniting major Ethereum Layer 2s together, zkLink Nova is taking the lead towards advancing blockchain of value, realizing a unified and interoperable rollup ecosystem with greater capital efficiency for all users.

About zkLink

Dedicated to unifying liquidity and scaling the Ethereum ecosystem, zkLink is pioneering Aggregated Rollup solutions to bridge the ecosystem siloes within the blockchain space. By facilitating a more interconnected, efficient, and accessible digital asset environment, zkLink is driving forward the vision of a unified and decentralized blockchain ecosystem without boundaries.

About zkLink Nova

zkLink Nova is the pioneering Aggregated Layer 3 Rollup zkEVM network that brings unprecedented liquidity and asset aggregation to Ethereum and its Layer 2 Rollups. Built with ZK Stack and zkLink Nexus, it leverages ZK Proofs to enhance scalability and security. Developers enjoy an open platform for deploying Solidity smart contracts and instantly tapping into integrated networks like Arbitrum and zkSync. Nova simplifies DeFi by presenting a unified ecosystem for users and DApps, promoting a seamless blockchain experience.

Links

Website, Twitter, Discord, Telegram, Blog, Whitepaper

Contact

Jake Morakis
zklink@mgroupsc.com

London, United Kingdom, March 11th, 2024, Chainwire

Bitcoin has made history and cleared a new all-time high of $71K, the knock-on effect being a huge increase in the global crypto market cap that is now pushing toward the $2.7 trillion mark.

Riding the current bitcoin wave, the first-ever presale on the Bitcoin network, Bitcoin Dogs, is now 5 days away from closing on the 15th of March, with over $9.7M in funds raised since its recent debut on the 14th of February.

With experts suggesting evidence that a bull run began in 2023, there is optimism surrounding the cryptocurrency market among investors. The Bitcoin ETF approval in January, the halving in April, talk of an ETH ETF approval later this year, and suspected Fed rate cuts are forming an optimal wave of bullishness — and the Bitcoin Dogs team hopes that a first-of-its-kind coin such as 0DOG is cleverly poised to ride this wave as 2024 progresses.

0DOG is available to buy on the Bitcoin Dogs website.

BTC Sets the Scene for Bitcoin Dogs’ Launch

2024 is proving to be interesting, to say the least. The Bitcoin Dogs team attributes part of the project’s success to its uncanny timing.

The bull market began snowballing at the start of the year, fueled by January’s ETF approvals. The SEC passed 11 spot applications, causing large financial institutions such as Blackrock and Fidelity to begin accumulating BTC in unprecedented quantities — Blackrock’s fund has now surpassed $11.5 billion in total inflows.

This was further compounded by other sources of institutional buy pressure beyond the ETFs, though. Michael Saylor’s MicroStrategy doubled down on its long-term BTC accumulation strategy, acquiring $100 million in new debt to make Bitcoin purchases last week. MicroStrategy now owns more BTC than any other public company, with a stash worth over $13 billion at current prices.

Saylor recently met with Jeff Bezos, with commentators suspecting a Bitcoin purchase by the Amazon boss. Bezos recently sold $8.5 billion of AMZN shares, and rumors are circulating that the sale was made to fund a BTC acquisition. Bezos would join Saylor and Elon Musk in the club of BTC-backed billionaires if a purchase is confirmed.

Finally, the Federal Reserve is expected to cut interest rates as the year goes on. Rate cuts mean that investors get worse returns on “risk-off” investments like bonds, causing many to look to “risk-on” assets like Bitcoin for greater gains. The availability of cheap credit typically leads to inflation as well, and Bitcoin is frequently bought as an inflation hedge. Both of these forces would likely stir demand for Bitcoin, as they did during the 2020 bull run.

Ordinals: Bitcoin Dogs’ Second Wind

The Bitcoin Dogs team suggests that the project’s proximity to Bitcoin places it in an advantageous position to benefit from spillover gains associated with a historic BTC rally. However, they also highlight that there are additional factors within the Bitcoin ecosystem that could further increase the spotlight on 0DOG.

The project utilizes two cutting-edge Bitcoin technologies: BRC-20 and Ordinals NFTs. The Ordinals protocol, which went live in 2023, allows NFTs and custom tokens to be issued and secured on the Bitcoin blockchain, much like on Ethereum or Solana.

0DOG is one such token and is the first BRC-20 to ever launch via an ICO. Buyers will be hoping that 0DOG follows in the footsteps of other BRC-20 tokens, many of which have enjoyed considerable rallies. 1CAT, the token of the Bitcoin Cats project, saw a trading volume of over $50 million quickly after launch, and Ordinals tokens have seen double-digit gains during Bitcoin’s recent pump.

Thanks to Ordinals, Bitcoin NFTs are also becoming more popular than their Ethereum counterparts. Given this hype magnet, the team behind Bitcoin Dogs is optimistic that Bitcoin Dogs could very well become the next viral collection to dominate the market, especially considering the size of their community — the official X account has over 100k followers before public listings. The team is optimistic this could further propel 0DOG to new heights.

There are less than 5 days left in the Bitcoin Dogs presale, with a final presale price of $0.0404, after this period the coin will go public. Given the current market trends and forthcoming developments, Bitcoin Dogs may be an interesting opportunity for those who will be closely following the latest Bitcoin developments.

About Bitcoin Dogs

Bitcoin Dogs is breaking new ground in the Bitcoin ecosystem. For the first time ever, NFTs, gaming, and new token types come together to offer the first ICO on the original Bitcoin blockchain. The truly permissionless immutability of Bitcoin is being harnessed to create the 0DOG token, while a play-to-earn (P2E) gaming experience and NFT collection are being developed exclusively for 0DOG holders.

Users can find more information and how to purchase Bitcoin Dogs (0DOG) by visiting the website.

• Explore the “Whitepaper“
• Join the community and social media platforms

Contact

Bitcoin Dogs Team
Bitcoin Dogs
marketing@bitcoindogs.club

Grand Cayman, Cayman Islands, March 8th, 2024, Chainwire

Powered by Pravica, S3 will provide builders on the Sui blockchain with the opportunity to seamlessly launch native stablecoins without the complexities of smart contract development and currency management

S3.MONEY (S3), a stablecoin studio developed on top of the Sui blockchain, was officially announced today by Cairo-based blockchain startup Pravica in collaboration with Sui. S3, which stands for “Stablecoin Studio on Sui,” is set to revolutionize the global payment processing landscape by introducing a versatile and user-friendly solution for building and utilizing stablecoins on the Sui blockchain.

S3 offers a key utility designed for building customizable stablecoins directly on the Sui blockchain, which in its initial phase, enables issuers to create fiat-backed stablecoins without building the bespoke technological infrastructure typically required for smart contract development and currency management. S3 not only simplifies the process for existing stablecoin issuers, such as USDC and USDT, to integrate with Sui, but also facilitates the creation of bespoke stablecoin solutions tailored to meet specific regulatory requirements in various jurisdictions.

S3 also establishes an entirely new process for stablecoin management, offering a streamlined one-stop-shop experience through a straightforward interface. Stablecoin Studio on Sui provides intuitive, capable administration with role-based controls, enabling effortless configuration and management of stablecoins. The platform enhances treasury command with built-in proof-of-reserve functionality and seamless integration with on-chain oracles. Integrated KYC/AML features prioritize compliance, strengthening due diligence with qualified identity verification services.

Mohamed Abdou, Founder & CEO of Pravica, expressed his enthusiasm for S3 and Sui as a foundation for Pravica’s stablecoin creator. “Based on the adoption we are already seeing and our deep experience with international payment systems, we are convinced that stablecoins will revolutionize the global payments industry. We also believe that Sui offers the most capable platform for building robust and scalable decentralized utilities. Built on top of Sui, S3 poised to become a global utility for creating customized payment solutions utilized by millions,” he said.

Beyond empowering builders to craft their own stablecoins, S3 also comes with a cutting-edge payments app, Walletify, which serves as a closed-loop payment solution. Walletify allows users to seamlessly transact using the stablecoins created through the S3 utility. Walletify’s closed-loop architecture, building on Sui’s unique Move-based design pattern, ensures a secure and efficient payment experience for both merchants and users.

“The team at Pravica has done incredible work and built much needed financial tooling. Stablecoin Studio on Sui removes an immense hurdle for stablecoin issuers and is set to transform the world’s payment processing industry,” said Greg Siourounis, Managing Director of the Sui Foundation. “We are extremely gratified that they have chosen to build this revolutionary solution on Sui.”

Contact

Sui Foundation
media@sui.io

Toronto, Canada, March 8th, 2024, Chainwire

Conflux Network, the only regulatory compliant public blockchain in China, today announces its pivotal role in assisting the successful beta-testing of the Hong Kong Dollar (HKD)-backed stablecoin, AxHKD. Built by local fintech company AnchorX, the stablecoin will be launched on Conflux Network initially, followed by Ethereum.

Conflux will provide the underlying technology with its superior scalability, security, low latency and cost-effectiveness. With this launch, AnchorX envisions becoming the most trusted provider of digital currency solutions in Asia, empowering reliable and efficient global exchanges.

AxHKD, will be launched initially on the Conflux public blockchain, and utilizes world-class distributed ledger technology and robust cybersecurity measures. It ensures a 1:1 peg to the HKD, backed by high-quality liquid asset reserves. These reserves are protected by a segregated trust arrangement and held by regulated financial institutions in Hong Kong. OKLink Trust, a strategic partner of AnchorX, provides the custodian services for the AxHKD issuance. 

AnchorX targets two primary applications for AxHKD. Firstly, as a catalyst for global payments, AxHKD enhances cross-border transactions between Hong Kong/mainland China and the global market. This is particularly beneficial for Belt and Road partners with less developed banking infrastructures. Secondly, AxHKD acts as a reliable fiat-on-chain instrument for virtual asset trading, paving the way for innovation in Real-World Assets and bridging the gap between traditional and digital assets in Hong Kong. 

The project is backed by Industry leaders from both the traditional finance and blockchain technology space including Hony Capital, a leading investment management firm in China overseeing over USD 16 billion in assets.

The announcement follows the recent initiatives by Hong Kong authorities to propose a regulatory regime for stablecoin issuers. On December 27, 2023, the Financial Services and the Treasury Bureau, in conjunction with the Hong Kong Monetary Authority (“HKMA”), released a Consultation Paper to gather public comments on the proposed legislation to regulate stablecoin issuers. This paper builds on the Discussion Paper released by the HKMA in January 2022 and the subsequent Conclusion Paper in January 2023.

Byron Wong, the Chief Compliance Officer at AnchorX, commented on the company’s unwavering commitment to meeting regulatory standards,  “Hong Kong has adopted one of the most proactive approaches to stablecoin regulation globally. We want to ensure that AxHKD tightly aligns with the proposed stablecoin standards. We will also explore applying for participation in the upcoming regulatory sandbox and hope to contribute our first-hand practical insights to the formation of a successful stablecoin regulatory regime.”

Fan Long, Founder of Conflux, commented “We’re thrilled to partner with AnchorX for the launch of AxHKD on Conflux Network. This collaboration represents a significant milestone in the fusion of traditional finance and the Web3 realm, enhancing the practicality of digital currencies for everyday transactions. AxHKD is poised to play a pivotal role in weaving the Hong Kong Dollar into the fabric of the Web3 ecosystem, driving innovation and financial inclusion.”

About Conflux

Conflux Network is a permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols. It utilizes a hybrid PoW/PoS consensus mechanism to ensure a rapid, secure, and scalable blockchain environment. With Conflux, congestion is eliminated, fees remain low, and network security is enhanced.

As the leading regulatory-compliant public blockchain in China, Conflux offers a distinct advantage for projects seeking to enter the Asian market. The platform collaborates with renowned global brands and government entities in the region, driving blockchain and metaverse initiatives. Notable partnerships include the city of Shanghai, China Telecom, Little Red Book (China’s “Instagram”), McDonald’s China, and Oreo. Learn more: https://confluxnetwork.org/

About AnchorX

AnchorX is a Hong Kong-based fintech company with a vision to be the most trusted provider of digital solutions in Asia. Learn more: https://www.anchorx.org/ or https://twitter.com/AnchorX_Ltd

Contact

Melissa Tirey
melissa@shift6studios.com

George Town, Grand Cayman, March 7th, 2024, Chainwire

Zircuit, a zk rollup with parallelized circuits and AI-enabled security at the sequencer level, today announced its staking program has surpassed $500M in TVL. Currently in testnet phase, Zircuit is poised to hit a mainnet TVL on day one that surpasses major blockchains such as Linea, Manta, Mantle, Near, Scroll, Aptos, and zkSync.

Next week, Zircuit will integrate Ethena, adding to its growing list of supported protocols for Zircuit Staking. Users who stake USDe with Zircuit will earn Zircuit Points and 7x Shards (Ethena points). Ethena is a crypto-native solution to a yield-bearing synthetic dollar fully collateralized and freely composable onchain. Other protocols in the program include Renzo, Kelp, Etherfi, Lido, Swell, Eigenpie, and Liquid Collective.

Points programs have become a rising trend in crypto, offering a new way to incentivize users who contribute to a protocol. Zircuit Staking is an innovative program that allows users to deposit ETH, liquid staking tokens (LSTs), and liquid restaking tokens (LRTs) to earn Zircuit Points. Through the staking program, users can earn Zircuit points on top of any staking yield or points they are already earning. Users who opt-in to migrate their assets to the Zircuit Mainnet when it goes live are rewarded the most. Users can withdraw at any time and keep the points and yield earned, as ETH isn’t hard-locked like Blast or Mantle. 

After spending over a year and a half conducting L2 research, the Zircuit team created an L2 with a built-in AI-enabled sequencer that protects users by monitoring the mempool for malicious transactions. In comparison to typical security efforts that focus on the application and smart contract levels, Zircuit brings sequencer-level security (SLS). This means that every transaction on Zircuit will go through low-level security checks resulting in a more secure chain for projects and end users. Zircuit is also fully EVM-compatible, offers greater efficiency, and provides users with cheaper and faster transactions.

Backed by Pantera Capital, Dragonfly Capital, and Maelstrom, Zircuit is currently in testnet phase with mainnet expected to come later in 2024. To participate in Zircuit Staking, users can visit: https://stake.zircuit.com/ 

About Zircuit

Zircuit is a zk rollup with parallelized circuits and AI-enabled security at the sequencer level. Built by a team of web3 security veterans and PhDs in computer science, algorithms, and cryptography, Zircuit’s unique architecture combines the best of both worlds of performance and security. To learn more visit zircuit.com or follow us on Twitter/X @ZircuitL2

Contact

Jessica Graber
Zircuit
jessica@zircuit.com

Grand Cayman, Cayman Islands, March 5th, 2024, Chainwire

Sui is one of twelve networks that will be integrated at ZettaBlock’s Open Beta launch, giving builders seamless access to a powerful new source of Web3 data platform

Sui, the lightning fast, infinitely horizontally scalable layer 1 blockchain that has quickly become a leading destination for DeFi activity, has been announced by data platform ZettaBlock as one of the protocols chosen to be a foundational integration partner at the launch of its groundbreaking Web3 data platform. At the launch of ZettaBlock’s open beta, builders and developers will have seamless access to rich, high-quality data across more than 12 blockchains and 500 popular Web3 datasets, including Sui.

Established in 2022, ZettaBlock represents a major advancement in Web3 data handling. ZettaBlock’s full-stack, institutional-grade, unified platform provides rich on-chain data, both historical and real time, and allows users to bring their crucial, private data sources to the platform. Importantly, ZettaBlock eliminates the need for developers to deal with multiple data vendors, presenting them instead with a singular, scalable and adaptable data platform. Further, ZettaBlock’s platform is easy to use, offering a comprehensive library of pre-built APIs which encompass the most common use cases to allow developers to build quickly, while simultaneously enabling them to easily craft custom APIs based on any business or dApp logic via SQL generating one click ready GraphQL endpoints with no infrastructure overhead. 

In its short history, ZettaBlock’s robust data solutions have already powered the likes of Crypto.com, Chainlink, Forta and Artemis Analytics. On the partner side, in addition to Sui, ZettaBlock’s open beta offers seamless access to data generated by Web3 networks such as Polygon, Stellar, and zkSync. 

The platform that ZettaBlock has engineered powers interoperability that is fundamental to enhancing and growing ecosystems and pushing the boundaries of Web3 use cases. Through its early-stage partnership with ZettaBlock, Sui fills an essential role in breaking down barriers for developers who seek to innovate and expand beyond the current limitations of DeFi. In particular, ZettaBlock empowers developers by eliminating data and infrastructure challenges and enabling them to focus on innovating and building the next generation of Web3 apps. With the aid of innovations such as Sui’s zkLogin and zkSend, the integration of ZettaBlock’s technology will speed adoption from web2 and spur the ongoing growth of the burgeoning Sui ecosystem.

The announcement of Sui’s inclusion as a provider in ZettaBlock’s open beta comes after a number of key achievements in Sui’s own DeFi ecosystem. In January, Sui broke into the top ten of all chains by TVL and in the last month, according to Wormhole data, the network received over $310M in assets moving from Ethereum to Sui — more than every other blockchain combined.

“Being chosen as a founding member of the ZettaBlock platform is a powerful testament to how positively Sui and its ecosystem are viewed in the broader Web3 landscape,” said Greg Siourounis, Managing Director of the Sui Foundation. “Sui is pleased to be a part of ZettaBlock’s commendable efforts to remove the silos that separate Web3 ecosystems and to help strengthen our ability to advance the technology to solve real world use cases.”

With today’s open beta launch, ZettaBlock is now available for builders, analysts, and businesses across the web2 and Web3 landscapes.

“We are excited to partner with Sui, a leading Layer 1 in the industry with impressive underlying technology and proven reliability,” said ZettaBlock Co-Founder and CEO, Chi Zhang. “The success of ZettaBlock is built around partnerships with the most active blockchain ecosystems and protocols and we are integrating Sui as a foundational partner to make it extremely simple for developers to access that burgeoning ecosystem.”

Contact

Sui Foundation
media@sui.io

Paris, France, March 5th, 2024, Chainwire

Uniting Web3 Visionaries and Global Leaders

Following the success of its 2023 edition, the Proof of Talk summit, heralded as the Davos of Web3, is back for its second year and brings together thought leaders, investors, CEOs, founders, exchanges, digital asset managers, and regulatory authorities for networking and thought-provoking sessions. Held on 10 and 11 June at the historic Museum of Decorative Arts in the Louvre Palace at the heart of Paris, this summit has its sights on delivering a unique event with a highly-curated audience dedicated to shaping the future of blockchain and global policy.

Last year, Proof of Talk welcomed over 1500 ecosystem participants, including key figures from Binance, VanEck, Ripple, and the World Economic Forum, alongside CEOs and founders of leading blockchain companies and government representatives. After the event distinguished investor, venture partner, and Proof of Talk attendee Leeor Groen, Managing Director, Spartan Group, aptly noted that it was “where Web3 meets the spirit of Davos.” The summit facilitated crucial discussions on rebuilding trust within Web3, reflecting the industry’s need for a platform that encourages genuine engagement, meaningful connections, and strategic collaboration. 

With the SEC’s recent spot Bitcoin ETF approvals and the Markets in Crypto-Assets Regulation bringing more clarity to the space in Europe, the stage is truly set for widespread blockchain adoption and development of digital assets beyond cryptocurrency. This year’s conference harnesses and reflects this revitalization and will assemble blockchain and Web3 professionals from around the world to engage with C-level executives, explore partnerships, and generate investment opportunities that will reshape industries and create new paradigms.

The highly-curated 2024 forum seeks to welcome over 2500 participants. Combined with a speaker lineup featuring CEOs, founders, and leaders of the Web3 and digital assets industry, the summit features impact-focused networking and a refined agenda. A few of the speakers include:

·     Joseph Lubin CEO and Founder at Consensys

·     Jenny Johnson, CEO, Franklin Templeton

·     Tim Draper, Founder, DFJ

·     Ophelia Snyder, Cofounder President, Ark 21 Shares

·     Mihailo Bjelic, Co-Founder, Polygon

·     Raoul Pal, Crypto Macro Economist

·     Yat Siu, Chairman, Animoca

·     John Wu, President, Ava Labs

·     Justin Sun, Founder, Tron

·     Marieke Flament, former CEO, Near Foundation 

·     Dominic Williams, Founder, DFINITY

·     Björn Wagner, CEO, Parity technologies and Polkadot

·     Jon Fink Isaksen, Head of Policy, Uniswap 

·     Matthew Siegel, Head of Digital Assets, Van Eck

·     Christopher Donovan, COO, NEAR Foundation

·     Lex Sokolin, Managing Partner, Generative Ventures 

·     Digital asset leads from over 30 major TradFi banks

·     Partners from 100+ attending VCs  

The summit’s agenda also actively reflects Web3’s growing importance, with over 20 panels, 10+ workshops, and over five keynotes and firesides on key topics shaping Web3’s future. These include real world asset tokenization, AI-blockchain integration, gaming evolution, and smart contract security.

Zohair Dehnadi, Co-Founder, Proof of Talk and Partner, X-Ventures: “We are overwhelmed by the positive feedback we received from our 2023 summit, with some attendees even sharing it reminded them of the World Economic Forum’s early days. We’re also delighted at all the interest from both speakers and potential sponsors for this year’s edition. Right now, the industry is on the brink of a new era, and we’ve harnessed this enthusiasm to curate an event with the most influential people from Web3, digital assets, and traditional finance to shape the agenda of the future. It’s important to provide an inspirational forum for these players, from founders and funds to legal experts and regulatory authorities, to engage in high-impact networking, share best practices, and have those necessary but tough discussions that will safely move the space forward. I’m proud to offer the industry such an exclusive experience at one of Paris’ most iconic locations, and am looking forward to seeing everyone in June!”

About Proof of Talk

Proof of Talk is setting a new standard in the Web3 conference landscape, positioning itself not just as another web3 conference but as a pivotal forum where the promise of decentralization comes to life. The summit uniquely combines the essence of traditional economic forums with the dynamic, decentralized Web3 community, fostering an innovative ecosystem of dialogue and action. It stands as a platform for change, where every voice, from the seasoned economist to the radical Web3 founder, contributes to a collective vision of a decentralized economic future. By facilitating engaging discussions and unparalleled networking, participants shape this new landscape. Learn more at www.proofoftalk.io

 About X Ventures

 X Ventures is a Germany-based digital assets investment fund dedicated to supporting and empowering entrepreneurs in the Web3 industry. Alongside its investment activities, X Ventures founded www.xschool.io, aiming to provide accessible education to future leaders worldwide.

Contact

Shanna Molina
Cognito
shanna.molina@cognitomedia.nl
+31 6 18 72 87 55

Palo Alto, California, March 1st, 2024, Chainwire

Using OpenRank, developers and web3 companies can build consumer apps where people can discover, use, fund, read, or buy something on-chain without worrying about getting spammed or scammed.

Karma3 Labs has raised $4.5M in seed funding led by Galaxy and IDEO CoLab Ventures to build OpenRank, a decentralized reputation protocol. Using OpenRank, developers and web3 protocols can power consumer apps, communities and marketplaces with an open ranking and recommendation layer that provides users with security and peace of mind when making decisions onchain, without having to trust centralized gatekeepers. Some of the early use cases of OpenRank include leveraging a community rating system for App Marketplaces like Metamask Snaps; Ranking and Recommendation APIs for Lens and Farcaster; On-Chain discovery feeds for consumer apps and wallets; and reputation-based voting and governance. 

Introducing trust and reputation mechanisms is critical to web3, just as it has been for web2, where there have been countless use cases in decentralized peer-to-peer utility. For example, Uber decentralized taxi services because of driver ratings; AirBnB decentralized hotels because of host ratings; eBay decentralized the shopping mall because of seller ratings; Reddit decentralized gated community forums because of user karma badges; Google allowed for the practical use of the decentralized web because of PageRank. However, none of these services were able to be fully decentralized because a single entity owned the reputation scores. To prevent centralized gatekeeping, there is a need for decentralized reputation mechanisms. Such reputation systems need to be open-source, permissionless, flexible to different contexts, and Sybil-resistant.

OpenRank solves for this in web3, creating a decentralized reputation mechanism that sets the foundation for a future where peer-to-peer interactions and collective community intelligence power a decentralized web of trust, rendering centralized gatekeepers obsolete. The protocol aims for a scenario where Twitter’s Community Notes like system was possible, but not owned by a single company, openly and cheaply accessible to any developer, who could define their own algorithm of choice.

“A decentralized internet characterized by fairness and transparency hinges on the existence of a robust reputation system,” said Sahil Dewan, founder and CEO of Karma3 Labs. “We believe that on-chain social and consumer experiences will need a decentralized reputation protocol and we’re excited to onboard builders and developers for OpenRank.”

OpenRank enables any developer to permissionlessly compute on Reputation Graphs for ratings, ranking or recommendation for their apps or communities. These graphs can be constructed using on-chain or any peer-to-peer social graph data. Using graph algorithms, like EigenTrust, the OpenRank will enable verifiable compute on these reputation graphs.

OpenRank leverages zero-knowledge proving systems for running graph algorithm computations. Developers can use any on-chain data that suits their application context without having to worry about the cost or verifiability of computing on the data. Consumer applications and marketplaces will be able to integrate context-specific, native rankings and recommendations seamlessly. Moreoever, developers can also leverage rankings and reputation from other ecosystems and communities to bootstrap their own reputation system. OpenRank believes that a reputation compute layer in web3 would allow a broader range of useful applications, including those that resist cryptographic or game-theoretic mechanisms of trust. To achieve this, the team needs a system that is resilient to Sybil contexts, provides scalable compute and can be permissionlessly used by any developer.

“OpenRank represents a pivotal advance in web3 social and on-chain interactions. We’ve seen the impact PageRank has had in web2 and there is a massive opportunity to build a similar reputation primitive on-chain,” said Mike Giampapa, General Partner of Galaxy’s venture team. “We’re excited for the future of Karma3 Labs and what they’ve built with OpenRank, and are proud to lead the company’s seed round.”

The fundraise was led by Galaxy and IDEO CoLab Ventures, with participation from Spartan, SevenX, HashKey, Flybridge, Delta Fund, Draper Dragon, and Compa Capital. Angel investors from Xooglers Fund and veterans from Coinbase, ConsenSys, IPFS, along with Andrew Hong from Dune Analytics and Liang Wu from the Harvard Crypto Lab also invested in the seed round. The raise enables OpenRank to broaden adoption across early use cases and help launch protocol v1 for developers, ushering in a new era of permission-less and verifiable reputation computation.

“Karma3 Labs and the OpenRank protocol for reputation and trust will enable radical innovation around choice, personalization and safety for a rapidly evolving internet. We are excited to see OpenRank already being implemented to enable open marketplaces, spam reduction and choose your own algorithms. This only scratches the surface of what’s possible and we look forward to working with the Karma3 Labs team to bring these possibilities to life,” said Joe Gerber, Managing Director of IDEO CoLab.

About OpenRank

OpenRank is a decentralized reputation protocol founded by Karma3 Labs. OpenRank introduces decentralized reputation mechanisms that set the foundation for a future where peer-to-peer interactions and collective community intelligence power a decentralized web of trust, rendering centralized gatekeepers obsolete. With OpenRank, we can build a more reputable world.

Contact

Karma3 Labs
hello@karma3labs.com

Grand Cayman, Cayman Islands, March 1st, 2024, Chainwire

Ondo launches native access to tokenized real-world assets on Sui

Sui, the Layer 1 blockchain that offers industry-leading performance and infinite scaling, has announced that Ondo Finance’s yield-bearing stablecoin alternative is now live on the network and available for immediate use by builders, developers and their end users. Ondo’s US treasury-backed and interest-bearing token, USDY, is the Sui Network’s first native dollar-denominated token. 

Ondo’s expansion to Sui offers key functionalities enabling builders and developers within the ultra-composable Sui ecosystem to create decentralized applications with significantly more features. Sui’s fast-rising DeFi TVL and volume, along with its adoption by leading projects, including some from other platforms, indicates a network that is experiencing growing demand for its next-generation financial applications. 

Ondo Finance is the third-largest platform bringing tokenized forms of real-world assets onto public blockchains with $185M in TVL. Ondo’s flagship Treasury-backed tokens and other tokenized real-world assets will create countless new opportunities for teams building on Sui. At inception, DeFi protocols with immediate integrations of USDY include Aftermath Finance, Cetus, NAVI Protocol, Typus Finance, Bucket Protocol, Turbos and KriyaDEX.

“I am extremely excited to bring the unique benefits of Ondo’s treasury-backed, yield-bearing USDY token to the builders and developers on Sui,” said Ondo’s founder and CEO, Nathan Allman. “The combination of our technologies offers this group, which is already creating apps at the forefront of DeFi, a unique opportunity to leverage Sui to advance the industry even further.”

The tokenized treasury-backed offerings that now live on the Sui Network represent tradable tokens backed by real-world assets, marking a significant step toward growing DeFi in the ecosystem and across the industry.

“Sui’s rapid growth in decentralized finance, exemplified by the significant assets and projects coming to the ecosystem, is a clear illustration that the network is ready to incorporate the latest in tokenized real-world assets,” said Greg Siourounis, Managing Director of the Sui Foundation. “Having a version of Ondo’s USDY that is native to Sui will unlock exciting new opportunities for Sui’s builders and developers and new features for the users of their applications.”

Contact

Sui Foundation
media@sui.io