Friday, Oct. 11

Yala, Bitcoin Liquidity Layer Featuring Stablecoin Protocol, Raises $8M in Seed Round

Yala, a Bitcoin liquidity with a modular approach featuring an overcollateralized stablecoin protocol, has raised $8 million in a seed round. According to a press release, the round was co-led by Polychain Capital and Ethereal Ventures, with participation from prominent investors, including Galaxy Vision Hill, Anagram, Amber Group, ABCDE, Ambush Capital, GeekCartel, HashKey Capital, L2 Iterative Ventures (L2IV), SatoshiLab, UpHonest Capital, UTXO Management and 280 Capital. "The capital will be used to fund expansion of Yala's engineering, growth and security teams ahead of its mainnet launch," the company said. Yala is set to release its testnet next week.

Thursday, Oct. 10

Nexus, ZkVM Developer, Launches Beta Version of 'World's First Open Prover Network'

Nexus, developer of a zero-knowledge virtual machine zkVM written in Rust, says it has launched the first beta release of the Nexus network, "the world’s first open prover network." According to the team: "This is the first distributed zero knowledge VM-based prover network that is accessible to anyone. The network aggregates the collective power of any connected device, from massive GPU farms to your computer or phone. Our goal is to unite the world’s computers into a single supercomputer that will be able to prove all the Internet’s computations, unlocking the Verifiable Internet."

Uniswap Developer Unveils Own Layer-2 Network, Unichain, Built on Optimism Tech

The main developer behind Uniswap, the largest decentralized crypto exchange, plans to launch its own blockchain as a layer-2 network atop Ethereum – part of an effort to make transactions faster and cheaper while also improving liquidity. Unichain, as the new network is known, was set to go live on a private test network Thursday, according to a press release. The project's technical development is being led by Uniswap Labs, relying on technology borrowed from the Ethereum layer-2 team Optimism's OP Stack. {{UNI}} {{OP}}

Ronin Adopts Chainlink's Cross-Chain Interoperability Protocol to Secure Ronin Bridge

Ronin has officially adopted Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to secure the Ronin Bridge, "following a competitive vote by the validator community (10 votes Chainlink, 3 votes LayerZero, 0 votes Axelar)," according to the team: "This integration will enhance security for assets bridged to Ronin, starting with Ethereum transfers. Chainlink’s infrastructure was chosen for its defense-in-depth approach and proven track record in enabling over $15 trillion in transactional value across multiple networks." {{LINK}}

Nudge, Markus Maier's New Project for Crypto Reallocation Incentives, Launches Points App

Nudge.xyz, a crypto project promoting what it describes as a new "Re:allocation primitive," has launched the Nudge Points App, "a DeFi app that unlocks hidden wallet value by assigning Re:Allocation Points, which serve as proxies for future Nudge incentives," according to the team: "Using a proprietary algorithm, the app analyzes asset types, on-chain activity and liquidity to calculate points and ranks users from 'Air' to 'Diamond.' Users can unlock more value by reallocating assets, with points redeemable for rewards. The app aims to reshape on-chain economics." Nudge.xyz was founded in May 2024 by Markus Maier, who previously co-founded Mauve, a decentralized exchange (DEX) for trading compliant and real world assets, before pivoting to build Nudge.

Aethir, Cloud Computing Platform for Underutilized GPUs, Launches $100M Ecosystem Fund

Aethir, a distributed network to source underutilized graphical processing units (GPUs) for intensive tasks like AI model training and gaming, has launched a $100 million Ecosystem Fund, backed by the Aethir Foundation, to accelerate adoption of its compute platform. According to the team: "As part of this initiative, Aethir introduces Aethir Catalyst, an independent grant program distributing 336,000,000 ATH tokens over the next year, providing financial support to 100+ projects via grants or subsidies. The program supports startups and enterprises with significant compute needs, especially those integrating AI or developing high-traction gaming projects in underserved communities needing affordable GPU resources."

Anoma Foundation Launches Namada Delegation Program

The Anoma Foundation, supporting the intent-centric Anoma project as well as the Namada protocol, which is a data-protection blockchain using zero-knowledge proof technology, "is launching the Namada Delegation Program to strengthen the security and decentralization of the Namada network," according to the team: "Validators with high uptime, security standards and meaningful contributions to the ecosystem can apply. Delegations, lasting six months, will be given to up to 50 validators. Validators are selected based on technical criteria including low commission rates (≤10%), participation in early testnets and development of tooling or infrastructure that improves the validator set’s geographic diversity. Applications close on Oct. 31."

PiP World, the 'Duolingo of Crypto,' Raises $10M from Fintech Firm Exinity

PiP World, a Web3 gaming and EdTech ecosystem, says it has secured $10 million in seed funding from Exinity, a fintech firm, to build out what it describes as the "Duolingo of crypto." According to a press release: "PiP World blends engaging gameplay with personalized learning to empower users, globally. PiP World’s games ecosystem includes: PiP Trader, a AAA strategy management simulator game for building trading portfolios; PiP World’s Gold Rush, a Telegram tap-to-earn game, PiP Academy, a gamified app that simplifies financial concepts; and StockRise, Roblox's top-grossing stock simulator."

CARV, Identity and Data Layer on Base for Gaming and AI, Launches Utility Token

CARV, an identity and data layer for gaming and AI, today launches its utility token, CARV. According to the team: "Built on Base and available on eight centralized exchanges including Bybit and KuCoin, CARV empowers holders to shape the protocol and monetize their data. With 1 billion total supply over four years, 50% is reserved for the community, including 10% for airdrops. CARV also introduces veCARV on Arbitrum for enhanced voting power."

Aethir, Network of Aggregated GPU Chips, Launches Enterprise Social Media and AI Business Line

Aethir, a distributed cloud compute infrastructure that aggregates enterprise-grade GPU chips into a single global network, launched a new enterprise social media and AI business line, powered by its Aethir Edge network. According to the team: "Starting in November, participants can earn up to 100 ATH tokens daily by connecting eligible devices to Aethir Edge. The decentralized network meets the growing demand for real-time data processing, reducing latency and enhancing security. With AI, cloud phones, and social media convergence, Aethir empowers users to manage their digital presence efficiently while earning rewards."

Ripple Expands Custody Business to Offer 'Bank-Grade' Service to Crypto Firms

Ripple, a provider of digital asset infrastructure, added functionality to its custody service to offer crypto businesses "bank-grade" technology for securing digital assets. The new features include integration with the XRP Ledger, whose developers went on to help found Ripple, expanding liquidity through the provision of XRPL-based tokens and a native decentralized exchange (DEX), which could allow companies to tokenize and manage real-world assets (RWAs) as well as other cryptocurrencies on XRPL. Ripple aims is to bring "the benefits of bank-grade custody technology to fintechs and crypto businesses," the company said Thursday. {{XRP}}

Theta Labs Announces AI-Powered Chatbot Built for The Vegas Golden Knights

Theta Labs, developer of the Theta blockchain, announced what is says is a "novel AI-powered chatbot built for The Vegas Golden Knights," according to the team: "This chatbot, powered by Theta EdgeCloud, will be integrated into the VGK website to enhance fan engagement by providing real-time answers to inquiries about game schedules, tickets, merchandise and more. Utilizing Retrieval Augmented Generation (RAG) technology, the chatbot will draw from a vast database of hockey statistics and team-specific information to offer tailored responses. This collaboration aims to create a more immersive and interactive experience for fans of the knights."

Proof-of-Work Blockchain Kadena Hires Ex-DCG Exec Ackerson in Push Toward Tokenization, RWAs

Kadena, a proof-of-work blockchain that says it can scale to power global financial systems by braiding together multiple Bitcoin-like chains, has appointed Alana Ackerson, a executive of Thiel Foundation, SoFi and Digital Currency Group, as strategic advisor, "marking a strategic push into asset management and institutional tokenization," Ackerson previously served as CEO of HQ Digital, a wealth management subsidiary of DCG that catered to crypto millionaires, and she co-founded Figure, a crypto unicorn best known for its blockchain-powered home-equity lines of credit, according to the team. She also led the Thiel Foundation as CEO. According to a press release: "Ackerson’s appointment coincides with Kadena’s renewed focus on institutional tokenization and RWAs, where the firm is in talks with large asset managers to launch a wide range of institutional tokenized products. With her background in asset management, Ackerson is poised to lead Kadena’s efforts in building out this business. The firm has also recently hired 10 business development staff, signaling its intent to make a significant comeback in the blockchain space."

Polygon Labs Invests $2M in Gaming-Focused L2 Moonveil's Nodes, to Accelerate AggLayer-Connected Projects

Gaming-focused Layer-2 Moonveil has announced a node sale, with Polygon Labs investing $2 million in the nodes. The project aims to raise more than $10 million, assuming all the available nodes were sold, according to the team: Starting Oct. 22, some 50,000 nodes will be available, helping accelerate the growth of AggLayer-connected projects in Moonveil's gaming ecosystem. Of the investment, $1 million will be used to foster these projects, with Moonveil's L2 offering seamless cross-chain integration. The node sale will feature a whitelist and public round. Moonveil aims to drive innovation and decentralization in Web3 gaming, with node activation set for Q1 2025." According to a blog post: "By following the developments in the Polygon CDK’s updates, Moonveil Muse Node will ultimately decentralize Data Availability (DA), as well as Proof Verification and Transaction Sequencing."

Folks.Finance Helps to Unlock Coinbase's Wrapped Bitcoin Alternative, 'cbBTC,' as Cross-Chain Collateral

The team at Folks.Finance, a community-driven decentralized platform providing permissionless DeFi tools across multiple networks, sent the following message: "For the first time, cbBTC’s utility as cross-chain collateral is unlocked with Folks.Finance, a community-driven decentralized platform providing permissionless DeFi tools across multiple networks. Folks.Finance users can deposit cbBTC, use it as collateral, and borrow against, making Folks.Finance the first cross-chain lending platform to support cbBTC on the Base blockchain.

Livepeer Hosts 'AI Demo Day' for 8 Projects in Startup Program, Opens Q4 Cohort

Livepeer, a decentralized video-streaming project, hosted an AI Demo Day, showcasing eight startups that participated in its AI Startup Program over the past three months. According to the team, "These groundbreaking startups are building the future of generative AI on decentralized infrastructure. They include: Flipguard, Katana Video, Newcoin, Operator, Origin Stories, Refraction, StreamEth and Supermodel. Applications are open for the Q4 cohort of the Livepeer AI Video Startup program, which includes $20K in grant funding. Applicants can apply here: https://livepeer.typeform.com/to/tMAF463P."

Apex Fusion, Federated Multi-Chain Network, Raises $6M in Private Token Sale

Apex Fusion, a federated multi-chain layer-1 network that aims to provide a seamless experience for future blockchain builders and developers by combining the best of UTXO and EVM transaction execution methods into a single decentralized ecosystem, has completed its first private token sale. According to the team: "The startup raised $6 million for its token ecosystem with a fully diluted valuation of $180 million. The AF team said the funds are for marketing and further developing its network, comprised of Prime, Nexus and Vector chains. It provides native bridges, interoperability protocols, and developer tools."

Ton Society to Host TON Bootcamp in London on Oct. 10-11

TON Society sent the following message: "London’s first TON Bootcamp will bring top builders and innovators to the city. Hosted by TON Society and Flight3, this two-day Hackers League Bootcamp will take place Oct. 10-11 at Woolwich Works. Focusing on the TON and Telegram ecosystem, the event offers hands-on experience, networking with experts and interactive sessions. Aspiring founders can form teams, develop ideas and receive mentorship before pitching their projects. Three winners will each receive $5,000 and advance to the Hackathon finals, featuring a $2M prize pool and potential $500K investments."

Protocol Village is a regular feature of The Protocol, our weekly newsletter exploring the tech behind crypto, one block at a time. Sign up here to get it in your inbox every Wednesday. Project teams can submit updates here. For previous versions of Protocol Village, please go here. Also please check out our weekly The Protocol podcast.