May 17: Oobit, a mobile payment app, has “collaborated with TON Foundation to integrate its native cryptocurrency, TON (Toncoin), into its platform, advancing the usage of cryptocurrency as a means of payment,” according to the team: “Toncoin holders will be able to Tap & Pay at over 100 million retailers worldwide. The integration will further strengthen the recent announcement of the collaboration between the largest company in the digital asset industry, Tether, and the TON Foundation.” According to a separate press release on Tether’s website: Users will be able to “send USDT as a direct message on Telegram and spend the same USDT for instant crypto Tap payments on Oobit.”
Radix ‘Bottlenose’ Update Brings ‘AccountLockers’ for Routing Tokens
May 17: Radix, a platform for DeFi and Web3, has “proposed a Bottlenose protocol update to its node runner community and expects it to be enacted on or around June 3. One of the standout features of the update is the introduction of AccountLockers, a ‘locker’ where token deliveries are routed through, which can be accepted or refused. AccountLockers are intended to stop undesired deposits and make for easier dApp bookkeeping. Other Bottlenose features include API and Radix Engine enhancements, and the addition of a recovery fee vault, eliminating the need for third-party fee locking during account recovery.”
Internet Computer-Based ‘Bitfinity EVM’ Launches as Bitcoin L2, Supports Runes
May 17: Bitcoin layer 2 Bitfinity has introduced its Ethereum Virtual Machine (EVM) to bring smart contracts Bitcoin protocols and harness Runes to enable Bitcoin DeFi apps. Built on the Internet Computer (ICP) protocol, Bitfinity integrates with the Bitcoin network and allows asset bridging to other blockchains. Internet Computer’s tech stack will allow applications that use Ethereum’s smart contract programming language Solidity to access Bitcoin-based tokens.
Mintlayer, Salus Partner on Layer-3 ‘Thunder Network’ Connected to Bitcoin
May 17: Layer-2 scaling solution Mintlayer and Salus, a security company specializing in zero-knowledge (ZK) technology, are partnering to enhance Bitcoin via their building of the Thunder Network, a layer-3 ZK rollup-based solution, according to the team. “The Thunder Network is designed to address any potential scaling issues the Mintlayer network might encounter while enabling additional EVM functionality that may be currently absent from Mintlayer,” according to a press release.
DroppGroup Announces ‘DroppLink’ to Tokenize Gen AI Outputs
May 17: DroppGroup, aiming to harmonize AI and blockchain technology, has “announced the launch of droppLink, an intelligent service platform poised to transform AI development and management across multiple blockchains. DroppLink’s architecture abstracts computational requirements, facilitates micropayments and democratizes data contributions, providing users with ownership and control, all while stakeholders, known as Computational Resource Patrons (CRPs), support infrastructure costs and share in the revenue generated by the AI processes they enable.” According to the project’s website, “end user Gen AI outputs are tokenized as unique digital assets on the Solana blockchain and are stored in the Filecoin network.”
Union, Stargaze to Enable Transfer of ‘Blue-Chip Ethereum NFTs’ to Cosmos
May 17: Union, the modular interoperability layer, is “partnering with Stargaze, a community-owned decentralized NFT marketplace, to enable the transfer of blue-chip Ethereum NFTs to the Cosmos ecosystem via its trustless, decentralized zkIBC bridge. This collaboration paves the way for achieving trustless interoperability for NFTs,” according to the team.
Oracle Project Pyth Launches $22M Ecosystem Grants Program
May 17: Pyth, a blockchain oracle project, is “launching their Ecosystem Grants Program with 50 million PYTH (worth ~$22M at today’s prices) dedicated towards this activation,” according to the team: “The program seeks projects focused on at least one of these three key areas: Community, Research, and Developer Grants.”
DTCC, Chainlink Pilot Accelerates Fund Tokenization with JPMorgan, Templeton, BNY Mellon
May 17: The Depository Trust and Clearing Corporation (DTCC), the world’s largest securities settlement system, completed a pilot project with blockchain oracle Chainlink (LINK) and multiple major U.S. financial institutions, aiming to help accelerate the tokenization of funds, according to a report published by DTCC. The purpose of project called Smart NAV was to establish a standardized process to bring and disseminate net asset value (NAV) data of funds across virtually any private or public blockchains using Chainlink’s interoperability protocol CCIP. Market participants included American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid Atlantic Trust, State Street and U.S. Bank. (LINK)
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EasyA Consensus Hackathon – Call for Participants
This year, Consensus is hosting its first ever in-person hackathon together with the world’s number 1 Web3 learning app, EasyA. This will be a three-day, multi-chain IRL hackathon with world-class sponsors from Sui to Stellar to Polkadot and beyond, and will attract the world’s best developers to build the future of Web3 and raise funding for their projects.
Projects launched by EasyA alumni are valued at over $2.5 billion. The EasyA Consensus hackathon is going to be 2024’s most important hackathon yet.
We have a few remaining spots left for hackers, so if you’re excited about participating, make sure you sign up here!
FLock.io to Merge Decentralized AI Training With Morpheus ‘Smart Agents’
May 16: FLock.io, a platform for “AI co-creation,” and Morpheus, a network for powering smart agents, announced a strategic partnership “to advance decentralized AI capabilities in Web3,” according to the team: “By merging FLock.io’s community-driven, decentralized AI training model platform with Morpheus, which empowers Smart Agent builders to deploy their code and receive rewards, the partners aim to reduce reliance on centralized external function calls to OpenAI and integrate more Smart Agents into Web3 wallets. Ultimately, this integration will empower users to harness AI directly from their wallets for seamless, secure, and intuitive trading experiences.”
Entangle, Interoperable Data Infrastructure Layer With ‘Liquid Vaults,’ Launches Mainnet
May 16: Entangle, an interoperable data infrastructure layer powered by underlying primitive “liquid vaults,” is releasing its mainnet after two years of development and a strict testnet phase, according to the team: “The network currently holds 71 validators, including Hashkey Cloud, Rhino, Nodefi and DaiC. The mainnet also presents the Photon Messaging feature, enabling omnichain development across 16 EVM and non-EVM blockchains, including Solana.”
Alvara Protocol, Developing DeFi-Based System for Fund Management, Launches Testnet
May 16: Alvara Protocol is “launching its testnet, marking a major milestone in its development of a DeFi-based system for fund management,” according to the team: “Alvara democratizes fund management with an innovative tokenized fund factory, leveraging DeFi, ensuring transparency, liquidity, and cost-efficiency compared to traditional hedge funds and ETFs. Built on the ERC-7621 token standard, it allows anyone to become a fund manager. With the testnet live, users can explore the platform, provide feedback, and help shape Alvara’s future impact on DeFi and TradFi industries.”
Hashgraph Association, Qatar Financial Centre Plan $50M ‘Digital Assets Venture Studio’
May 16: The Hashgraph Association has signed a strategic partnership with the Qatar Financial Centre to launch a $50 million Digital Assets Venture Studio, according to the team: “The platform will support local Qatari and international portfolio companies in the development of regulatory-compliant decentralized finance solutions and digital assets built on the Hedera Distributed Ledger Technology network. The studio will be part of Qatar’s Digital Assets Lab within the QFC Innovation Dome as part of Qatar’s ‘National Vision 2030’ to accelerate research and development within the digital asset space.”
KYVE Starts ‘Phase 0’ of Grants Program With Up to $50K Per Approved Grant
May 16: KYVE Network representatives announced that the KYVE Grants Program: Phase 0 is now live: “This grant phase offers up to $50,000 in funding per approved grant that utilizes KYVE’s trustless datasets and or tooling,” according to the team.
Game Developer Param Labs, Behind Kiraverse, Raises $7M, Led by Animoca
May 16: Param Labs, an independent game and infrastructure development company behind the game Kiraverse, and 3-D asset creation platform Pixel to Poly, announced a fundraise of $7 million in an investment round led by Animoca Brands. According to the team: “Delphi Ventures, Cypher Capital, Mechanism Capital and other top-tier investors have also joined the seed and private funding rounds. The company has thus incorporated 50+ IP partnerships within its ecosystem, with brands such as Pudgy Penguins, Neo Tokyo, Animoca Brands’ Mocaverse, Pixelmon, as well as retail giants such as GameStop.”
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.