Blockchain
SynFutures Launches Automated Yield-Generating Feature for Margin Tokens
SynFutures (www.synfutures.com), the leading DeFi derivatives protocol, announced the launch of The SynFutures Vault on Base. The Vault enables third-party providers to deploy individual vaults for each supported margin token, bringing new automated yield-generating strategies to SynFutures’ growing community.
Trading on a decentralized finance (DeFi) protocol requires time, energy, and strategy. For traders new to DeFi or the broader Web3 space, learning to trade and take advantage of the various earning opportunities can be overwhelming. The Vault provides an intuitive, user-friendly interface that makes it easy for users to access and manage their funds, lowering the barrier to entry for participating in DeFi trading.
To get started, users deposit funds into individual vaults, which third-party providers actively manage. Individual vaults for each margin token allow users to diversify their liquidity provision across different assets, helping to reduce concentration risk in their portfolios. The funds are then leveraged to provide liquidity and execute trading strategies for the asset pairs associated with the margin token to optimize users’ returns while prudently managing the underlying risks.
Users can deposit and withdraw funds as needed (outside of vault suspension statuses), enabling them to dynamically allocate capital based on their trading requirements and market conditions. As the SynFutures platform expands to support new margin tokens, the Vault can seamlessly accommodate these additions, allowing users to increase their exposure to the evolving DeFi ecosystem continually.
“An important part of growing our DeFi derivatives protocol is educating our audience and improving the trading experience. The launch of SynFutures Vault highlights our protocol’s ability to support permissionless activities outside of asset listings and open the door to new yield-generating strategies for traders at all levels,” said Rachel Lin, co-founder and CEO at SynFutures.
In future phases, the Vault will expand to new chains as part of SynFutures’ multi-chain expansion strategy.
To access the SynFutures Vault, users can go to https://oyster.synfutures.com/#/vault/base/.
About SynFutures
SynFutures is a decentralized perpetual futures protocol that facilitates open and transparent trading on any assets and listings instantly. The V3 Oyster AMM launched the industry’s first-ever unified AMM and onchain order book model.
Backers include Tier 1 Web3 institutional investors Pantera Capital, Polychain Capital, Susquehanna International Group (SIG), Dragonfly Capital, Standard Crypto, and Framework Ventures, and the team has extensive experience at global financial institutions, fintech companies and blockchain technology companies such as Alipay, Bitmain, Credit Suisse, Deutsche Bank, Matrixport, and Nomura Securities.
Blockchain
SingularityDAO Approves Merger With Cogito Finance and SelfKey Following SDAO Community Vote
SingularityDAO has concluded a community vote to determine its proposed merger with Cogito Finance and SelfKey. SDAO holders voted overwhelmingly in favour of the merger, enabling SingularityDAO to press ahead with plans to form Singularity Finance, an EVM Layer 2 for tokenising the AI economy.
The proposal to merge with Cogito Finance and SelfKey and combine technologies to create Singularity Finance was put to SDAO holders via Snapshot, the popular governance framework. More than 15M SDAO were used in the voting process with 94.78% of the tokens utilised approving the merger.
SingularityDAO Co-Founder Mario Casiraghi said: “We’re grateful to all SDAO holders for participating in this pivotal governance vote and having their say on the future of SingularityDAO. With their approval, we will now move ahead with the proposal to create Singularity Finance as an L2 that combines the best elements of SingularityDAO with those of our partners SelfKey and Cogito Finance to accelerate DeFi and AI innovation.”
Following the governance vote, SingularityDAO is poised to proceed with the merger pending an imminent community vote on behalf of KEY holders that will determine SelfKey’s position. The creation of Singularity Finance would enable the three projects to align to develop solutions across all stages of the Artificial Intelligence (AI) value chain.
Singularity Finance has been conceived with the goal of supporting an array of AI-driven financial services including RWA tokenisation and onchain identity management. Through positioning itself as a leader in the rapidly growing AI economy, the Layer 2 will attract developers and users seeking to gain exposure to the new use cases and assets the industry supports.
Cloris Chen, CEO of Cogito Finance, shared in a quote: “The overwhelming community support for the SFI merger is a powerful testament to the shared vision we have for the future of finance. By combining our expertise and technologies, we are poised to unlock unprecedented opportunities at the intersection of AI and DeFi. Singularity Finance will be a leading force in driving innovation and accessibility in this dynamic landscape, empowering individuals and institutions alike.”
The existing AI-powered portfolio management services SingularityDAO currently provides will be enhanced by the incorporation of compliance and RWA tokenisation solutions courtesy of SelfKey and Cogito Finance respectively. This will include financial tools that enhance and automate analysis, portfolio, and risk management leveraging SingularityDAO’s AI-driven DynaVaults and other technologies.
The proposed merger will see a leadership council for Singularity Finance established to oversee operations of the newly merged financial ecosystem. The council will be led by Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance; Cloris Chen, CEO of Cogito Finance; and Mario Casiraghi, CFO of SingularityNET and Co-Founder of SingularityDAO.
About SingularityDAO
SingularityDAO is a decentralised Portfolio Management Protocol designed to democratise access to sophisticated crypto asset management tools. The upcoming DynaVaults, multi-asset, multistrategy vaults leveraging AI-enhanced analytics and risk management tools, provide the much needed infrastructure in the volatile world of DeFi.
Learn more: https://singularitydao.ai/
Blockchain
Solv Strengthens Core Blockchain with Its Addition as a New Validator
The Core Foundation, the entity committed to growing Core’s leading BTCfi ecosystem, has announced the addition of Solv to its validator set, a significant step in enhancing the security and decentralization of the Core blockchain ecosystem. The move comes as the network continues to expand its footprint in the Bitcoin staking and BTCfi space.
Validators on the Core blockchain play a crucial role in maintaining the integrity of the network. They validate transactions, produce new blocks, and ensure that the blockchain adheres to its rules and protocols. Solv, the leading Bitcoin Staking Platform, will now help safeguard the Core ecosystem. Their election as validators underscores Core’s commitment to building a robust and secure network.
This addition comes as Solv has recently announced that it has successfully raised $11 million at $200 Valuation, bringing its total funding to $25 million. The new capital will fuel the expansion of their Staking Abstraction Layer (SAL), advocating to drive mass adoption of Bitcoin Staking. The round included Nomura subsidiary Laser Digital, Blockchain Capita, OKX Ventures, and Core Ventures, the strategic venture arm of the Core blockchain. Solv Protocol’s SolvBTC product has more than 20,000 BTC staked ($1.3 billion) deployed across 10 major blockchain networks. More recently in early October, Core and Solv joined forces to launch SolvBTC.CORE, a Liquid Staking Token for Bitcoin, where 500 SolvBTC were staked to SolvBTC.CORE in under 2 hours. Contributing to this traction is Core Ignition Drop, an incentive platform where participants can further enhance their yields through DeFi activities.
“At Solv, we are thrilled to join forces with Core as a validator and to contribute to securing the next wave of Bitcoin innovation. With SolvBTC.CORE, we enable users to stake their Bitcoin and earn real yields, while keeping full liquidity and tap into DeFi applications. Our Staking Abstraction Layer (SAL) simplifies and standardizes Bitcoin staking. SolvBTC.CORE is one of the first products introduced within the SAL framework, serving as a testament to our mission of making Bitcoin staking more accessible to everyone,” said Ryan Chow, Co-founder & CEO of Solv Protocol.
Core’s unique approach to security combines Bitcoin’s mining power with an Ethereum-compatible blockchain infrastructure. Around 55% of Bitcoin’s mining hash power contributes to securing Core, which operates using the Satoshi Plus consensus mechanism—an innovative model that merges Delegated Proof of Work (DPoW) with Delegated Proof of Stake (DPoS). This allows Core to benefit from Bitcoin’s established security while supporting smart contract execution and decentralized applications.
The validators’ role goes beyond just security. Through an epoch-based election cycle, validators like Solv are elected based on the Bitcoin and CORE tokens staked in their favor, as well as the Bitcoin hash power delegated to them. Validators are rewarded for their efforts and share these rewards with delegators who stake CORE tokens or contribute hash power.
With the addition of Solv, Core aims to further decentralize its network while increasing the trust and stability of the blockchain. As Core continues to grow, these collaborations highlight the increasing confidence in the network’s security model, attracting both institutional and individual participants.
Core launched Non Custodial Bitcoin staking in April 2024, allowing users to earn a risk-free return by locking their Bitcoin in time-locked contracts, without giving up custody. This product has seen significant adoption, with nearly 5,000 Bitcoin staked, as it provides an opportunity for Bitcoin holders to generate yield without additional risks. Furthermore, the BTCfi ecosystem on Core is already growing, with over 400 million dollars in TVL and more than 80,000 daily active users. Core’s ecosystem supports DeFi applications, staking, payments, gaming, NFTs and more, all built on Bitcoin’s secure foundation.
This latest development marks an important milestone for Core as it seeks to strengthen its position as a Bitcoin-aligned, secure blockchain platform.
About Core
Core serves as the Proof of Stake layer for Bitcoin as the first enabler of Self-Custodial Bitcoin Staking, which secures a fully EVM-compatible BTCfi ecosystem. Since April 2024, over 6,000 BTC valued at more than $394 million have been staked with Core, enhancing Bitcoin’s utility and security.
Core is the most Bitcoin-aligned EVM blockchain with ~55% of Bitcoin mining hash power contributing to the network’s security. This breakthrough has amassed millions of Core adopters – over 22.5M unique addresses, 292M+ transactions, and over 444M TVL since its mainnet launch in January 2023.
Blockchain
Chainlink Data Streams Is Now Live on opBNB To Power Secure DeFi Markets on the Optimized Layer-2 Solution
Chainlink, the industry-standard decentralized computing platform, and BNB Chain, a community-driven blockchain ecosystem of Layer-1 and Layer-2 scaling solutions, announced today that Chainlink Data Streams, the all-in-one data solution for the DeFi market, is now live on opBNB, a high-performance layer 2 solution, with KiloEx, a decentralized perpetual exchange as a launch user for Data Streams on opBNB to help power their decentralized perpetuals.
opBNB is a layer-2 scaling solution for BNB Chain. It enhances scalability by offloading transaction processing and resource usage from BNB Chain while posting data to mainnet. Users can easily deposit funds from BNB Chain to opBNB, allowing them to interact with various applications and smart contracts on the network. The sequencer aggregates transactions, computes state transitions, and submits them to the rollup contract on BNB Chain, while provers generate cryptographic proofs to verify these transitions. opBNB can support up to 5,000-10,000 transactions per second (TPS).
“Chainlink Data Streams will significantly enhance the capabilities of high-performance DeFi applications on our optimized layer-2 solution. Data Streams’ low-latency delivery of market data, coupled with its battle-tested infrastructure, made it an obvious choice for the opBNB ecosystem.”—Marwan Kawadri, Head of EMEA, BNB Chain.
BNB Chain adopted Chainlink Data Streams as its preferred low-latency oracle solution for opBNB because it supplies premium high-frequency market data using proven Chainlink infrastructure. Not only does Data Streams deliver unmatched functionality—with advanced features such as liquidity-weighted bid-ask spreads and sub-second execution speed—but it does so without compromising on transparency and decentralization.
“We’re excited to see Chainlink Data Streams integrated on opBNB, as this will significantly increase the security and reliability of high-performance DeFi apps on the layer-2 network.”—Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs.
“We’re excited to have opBNB adopt the ultra-low-latency Chainlink Data Streams to bring highly accurate and reliable price information to the BNB Chain layer-2 solution. KiloEx is integrating this sub-second data to power our perpetuals and facilitate accurate and timely liquidations.”—Joey, Kiloex Founder.
If you’d like a deep dive into how Chainlink Data Streams works, read Chainlink’s blog post. If you’re a developer and want to start building with Chainlink Data Streams, check out the developer docs.
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $16 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
About BNB Chain
BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:
- BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
- opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds.
- BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.
Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.
Blockchain
COGGIE: COGGIE Review of Innovative Stablecoin Solutions Addressing Price Volatility and Boosting DeFi
COGGIE has announced the launch of its innovative stablecoin solutions, designed to address the challenges posed by significant price volatility in the cryptocurrency market. With the increasing demand for stable assets, COGGIE’s new offerings aim to provide investors with secure, reliable options for preserving value and facilitating transactions.
Stablecoins are digital assets that offer the benefits of cryptocurrencies while maintaining price stability by pegging their value to fiat currencies or other stable assets. By introducing its own stablecoin solutions, COGGIE aims to enhance user experience, allowing investors to hedge against market fluctuations while enjoying the flexibility of digital assets.
New Stablecoin Features from COGGIE
The newly launched stablecoins will fall into several categories, providing diverse options to meet user needs:
Fiat-Collateralized Stablecoins:
COGGIE will introduce fiat-collateralized stablecoins that are pegged to the US dollar at a 1:1 ratio. These stablecoins will be backed by a reserve of fiat currency held in secure accounts, ensuring users can redeem them with confidence. This offering will enhance liquidity and stability within the platform, making it easier for investors to navigate market volatility.
Crypto-Collateralized Stablecoins:
In addition to fiat-collateralized options, COGGIE will also launch crypto-collateralized stablecoins. These stablecoins will be backed by other cryptocurrencies, utilizing smart contracts to ensure price stability. By allowing users to lock their assets in a decentralized manner, COGGIE aims to provide a flexible and secure alternative for those looking to engage in DeFi activities.
Algorithmic Stablecoins:
COGGIE is set to explore algorithmic stablecoins, which adjust their supply dynamically based on market demand. This innovative approach will provide an additional layer of stability, appealing to users seeking more decentralized options in the cryptocurrency ecosystem.
Advantages of COGGIE’s Stablecoin Solutions
The launch of these stablecoin solutions comes with several advantages for investors:
- Price Stability: Users can expect minimal price fluctuations with COGGIE’s stablecoins, providing a reliable option during periods of market volatility.
- Enhanced Liquidity: By offering stablecoins as trading pairs, COGGIE facilitates smoother transactions, enabling users to easily convert between cryptocurrencies.
- Decentralized Finance Support: The new stablecoin offerings will play a vital role in the growing DeFi ecosystem, allowing users to participate in lending, staking, and liquidity mining without exposure to traditional cryptocurrency volatility.
- Cross-Border Transactions: COGGIE’s stablecoins will simplify international payments, making it easier for users to transact globally with lower fees and faster processing times.
Commitment to Security and Compliance
As COGGIE rolls out its stablecoin solutions, the platform remains committed to maintaining the highest standards of security and compliance. All stablecoin reserves will be regularly audited to ensure transparency and trust among users. Additionally, COGGIE will work closely with regulatory bodies to ensure that its stablecoin offerings meet the necessary legal requirements.
Future of Stablecoins at COGGIE
With the launch of these innovative stablecoin solutions, COGGIE is positioned to enhance its offerings within the cryptocurrency market significantly. As demand for stable assets continues to rise, COGGIE remains dedicated to providing users with secure, reliable, and innovative options for managing their digital assets.
This strategic move reaffirms COGGIE’s commitment to being at the forefront of the cryptocurrency landscape, empowering users to navigate market volatility with confidence and ease.
Blockchain
Aleph Zero Launches Subsecond Shielding on Testnet, Delivering Client-Side ZK Privacy for DeFi
Most zero-knowledge proofs are generated server-side for scaling, but Aleph Zero’s zkOS does that directly on users’ devices, offering privacy in a fraction of second
Aleph Zero, the leading blockchain platform recognized for its focus on privacy and scalability, announces the launch of the first feature of zkOS (zero-knowledge operating system)—Shielding, on its EVM Testnet. This release marks the first opportunity for users to experience the shielding feature of zkOS in action, demonstrating the speed and privacy capabilities of Aleph Zero’s zero-knowledge proof (ZK) technology optimizations.
Privacy at Lightning Speed
The Shielding Demo release is a significant milestone for Aleph Zero, representing its commitment to developing practical privacy solutions for the blockchain industry. Aleph Zero’s zkOS enables zero-knowledge proofs to be generated client-side—meaning data is encrypted locally on the user’s device and never leaves unencrypted—providing high levels of privacy without compromising transaction speed. The Shielding Demo serves as the first practical interface for users to experience this privacy functionality, with zero-knowledge proofs generated within 0.5-3 seconds, ensuring that privacy has minimal impact on transaction performance.
“Privacy has long been a challenge in blockchain, often due to poor user experience,” said Adam Gagol, Co-Founder & CTO of Aleph Zero. “With today’s release, we’re delivering one of the fastest client-side ZK directly to users, combining privacy and performance. The release of the Shielding Demo offers a glimpse into how zkOS can bring privacy to DeFi without sacrificing speed or usability.”
How the Shielding Demo Works
The Shielding Demo provides an intuitive interface for users to test Aleph Zero’s zkOS privacy layer. Here’s how it works:
- Data Privacy: zkOS generates zero-knowledge proofs locally on the user’s device, ensuring that data remains private and secure.
- Transaction Flow: Users generate ZK proofs, send transactions to a relayer, and then they are executed on-chain—all while maintaining privacy.
- Fast Proving Times: The system delivers ZK proofs in 0.5-3 seconds on most devices, demonstrating zkOS’s speed and its minimal impact on transaction times.
The Testnet version of zkOS allows users to interact with the system and witness its capabilities, though Aleph Zero notes that the privacy features will be built directly into the upcoming Common app.
Why zkOS Matters: A Glimpse Into the Future
The launch of the Shielding Demo on Testnet is only the beginning. Aleph Zero’s roadmap for zkOS extends far beyond this initial release, with ongoing work on simplifying the user experience and the introduction of additional privacy features, such as ZK-ID and anonymity revokers, to ensure both privacy and protection against fraudulent use of the platform.
The system is designed to be easily integrated by developers, providing a privacy framework that requires minimal cryptographic knowledge. This simplicity, combined with Aleph Zero’s rapid client-side ZK proof generation, makes zkOS a critical tool for developers building privacy-centric applications across DeFi and other web3 sectors.
Unlocking Privacy for New Use Case
The privacy space in blockchain has been facing increased challenges, such as regulatory scrutiny and delistings, often due to concerns over non-compliance. Aleph Zero’s zkOS offers a fresh approach by delivering privacy solutions that balance user confidentiality with regulatory requirements. Instead of focusing solely on anonymity, zkOS is designed to meet both the needs of users and the evolving demands of compliance.
zkOS enables users to manage their assets securely across multiple blockchains, ensuring their transactions remain private. Unlike traditional privacy methods that rely on centralized or hardware-based systems, zkOS operates directly on the client-side, safeguarding privacy without external dependencies.
Next Steps for Aleph Zero
As the Testnet release progresses, Aleph Zero is focusing on refining Shielding and zkOS for its Mainnet deployment. Users who engage with the Shielding Demo will have the opportunity to be whitelisted for upcoming zkOS Beta testing on Aleph Zero’s EVM Mainnet.
About Aleph Zero
Aleph Zero is an ecosystem of blockchain solutions that are engineered for speed, data confidentiality, and ease of development. It achieves efficiencies akin to conventional web2 systems, upholds rigorous standards for data protection via zero-knowledge proofs (ZKP), and offers a comprehensive toolset for development across web3, ranging from WASM-based Rust to EVM-based Solidity environments. Aleph Zero’s versatility is highlighted by over 40 use cases being actively developed, showcasing its adaptability across various sectors and applications. These use cases are part of an engaged community and growing ecosystem of web3 applications supported by Aleph Zero programs.
For more information, visit https://alephzero.org/.
Blockchain
Miracle Cash & More launches novel liquidity pool on the popular Avalanche blockchain
Miracle Cash & More, a leader in decentralized finance (DeFi) innovation, is proud to announce the launch of its new liquidity pool on the Avalanche blockchain. This innovative pool, called Phoenic Leveller, marks the first platform to enable users to leverage their liquidity positions—a breakthrough in the world of DeFi. By offering this capability, Miracle Cash & More aims to provide traders with increased flexibility and expanded opportunities to maximize their returns.
Unlocking access to borrow and trade larger positions
The Phoenic Leveller liquidity pool allows users to amplify their liquidity positions, unlocking new potential in a rapidly evolving financial landscape. Leveraged liquidity trading is a cutting-edge feature that distinguishes this platform from traditional liquidity pools, where participants are typically limited to simply providing liquidity. With Phoenic Leveller, traders can now utilize their existing assets to borrow and trade larger positions, opening the door to higher returns and more dynamic trading strategies.
Harnessing the power of the Avalanche blockchain, Phoenic Leveller benefits from the network’s high scalability, low fees, and fast transaction times. Avalanche’s infrastructure ensures that traders experience a truly efficient trading environment, whether they are just entering the world of DeFi or are seasoned professionals. By combining leverage with Avalanche’s advanced blockchain technology, Miracle Cash & More has created a platform that is both accessible and sophisticated, catering to users at all experience levels.
Phoenic Leveller combines with Avalanche in a secure and scalable ecosystem
“We’re incredibly excited to introduce leveraged liquidity trading through Phoenic Leveller,” said Hakan Törehan, CEO of Miracle Cash & More. “This innovative product, born from our Code Node investors, is set to become an on-chain NFT and marks a pivotal advancement in the DeFi space. By integrating with Avalanche, we’re providing traders with a secure, scalable, and dynamic environment to maximize opportunities. It’s a true game-changer in how people engage with decentralized finance.
This launch also aligns with our recent strategic partnership with Ingenico, a global leader with a POS merchant network of over 40 million units, further demonstrating Miracle Cash & More’s commitment to shaping the future of financial technology.”
The benefits for users of Phoenic Leveller are significant. With the ability to leverage liquidity, traders can potentially increase their returns by accessing more capital than they initially contribute. This creates greater flexibility in their trading strategies, allowing for more effective risk management and capital efficiency. Miracle Cash & More’s intuitive platform design makes these advanced features accessible to both novice and experienced traders. The low transaction fees and quick settlement times provided by Avalanche make the platform cost-effective and efficient, ensuring that users can focus on their trading without unnecessary delays or expenses.
Smart contracts for high level transparency
Moreover, the platform’s security measures are bolstered by the use of smart contracts, which automate transactions and provide a high level of transparency and protection for users’ assets. In practice, this means that users can trade with confidence, knowing that their positions and liquidity are safeguarded within a secure blockchain framework.
The launch of Phoenic Leveller is part of Miracle Cash & More’s broader strategy to expand its service offerings in the DeFi space. By integrating advanced trading capabilities into its platform, Miracle Cash & More is positioning itself as a leader in decentralized finance innovation. Phoenic Leveller is just one of several initiatives aimed at providing users with more control over their financial positions and more opportunities for growth in the blockchain economy.
Miracle Cash & More also supports the Phoenic Token, which plays a central role in its ecosystem. The company has implemented a strategic acquisition plan, allocating a portion of its monthly revenue to purchasing Phoenic Tokens. This buy-back initiative is designed to support the token’s market value, ensuring stability and growth for both the platform and its users. Through the Phoenic Leveller platform, users can also trade Phoenic Tokens for other supported cryptocurrencies, providing even greater flexibility and liquidity within the ecosystem.
Blockchain
Granite Launches as First-of-its-Kind Bitcoin DeFi Liquidity Protocol Prioritizing Security and Trust
The first-of-its-kind DeFi liquidity protocol focusing on redefining trust and security for DeFi
Granite, a groundbreaking Bitcoin DeFi liquidity protocol that empowers users with unprecedented security and control over their Bitcoin assets, today announced its launch. Incubated by Trust Machines, Granite represents a significant evolution in the DeFi landscape, setting new standards for transparency and user-centric financial services – all backed by the power of Bitcoin L2s.
Granite enables BTC users to access DeFi without centralized custodians by leveraging Stacks’ recently-launched Nakamoto upgrade and sBTC Bitcoin bridge. The Nakamoto upgrade increased Stacks’ block speed 100x while maintaining its unique proof-of-transfer (PoX) consensus mechanism and Bitcoin finality. sBTC is an open-source Bitcoin bridge secured and managed by an open network of Stacks validators via a threshold signature script on the Bitcoin blockchain, allowing for the permissionless and decentralized use of BTC in DeFi. Together, these upgrades pave the way for Bitcoin DeFi.
“Today there is no safe way to use BTC in DeFi,” said Blaize Wallace, Founding Contributor to Granite. “Protocols have decided to maximize returns at the cost of counterparty and protocol risk. Granite takes the opposite approach.”
Granite introduces a borrower-centric DeFi liquidity model that maximizes asset safety, minimizes liquidation risk, and allows users to tailor their risk exposure.
- No rehypothecation: by never lending out borrowers’ collateral and only having a single borrowable asset per market, Granite eliminates the predominant DeFi “pooled-risk” model that exposes all users to the downside of the riskiest pool assets.
- Liquidation to solvency: DeFi protocols typically liquidate 50-100% of a position, which can result in the loss of borrowers’ collateral. Granite instead uses “soft liquidations” which liquidate only to the point of solvency, allowing overextended borrowers the opportunity to weather downturns with minimal losses.
- Offline position tracking: push notifications that track account health and interest rates allow borrowers to relax and receive relevant account alerts instead of staying glued to their screens.
- Tranched LP positions: LPs can stake their positions to enter a junior risk tranche that may receive higher rewards, tailoring their risk profile, and all LPs are still protected by the protocol reserve as a first line of defense.
Despite being the most capitalized crypto asset, most bitcoin sits dormant and unproductive, unused by its holders. Other blockchains demonstrate a stark contrast, where their native cryptocurrency (such as ETH) is actively deployed to validators (staking) and in DeFi protocols as collateral or liquidity pairs. As a decentralized non-custodial protocol, Granite brings transparency to lending and borrowing that typically has not been seen on the Bitcoin blockchain, aiming to reverse this trend.
“At this time, only about 1% of bitcoin is used in DeFi, largely because Bitcoin users want to make sure their BTC is secure first and foremost,” said Muneeb Ali, CEO and Co-Founder of Trust Machines. “Granite’s security-oriented approach creates an opportunity to begin unlocking the remaining 99% of BTC capital. It’s the only liquidity protocol I would consider using with my BTC.”
“Bitcoin is the most valuable asset you will ever own,” added Wallace. “Don’t risk your stack to centralized wrappers or predatory liquidation schemes. Granite helps you access the value in your BTC as safely as possible. Never sell.”
For more information about Granite, readers can please visit http://www.granite.world
About Granite
Granite is a first-of-its kind Bitcoin DeFi liquidity protocol empowering users with unprecedented security and control over their Bitcoin assets, Granite represents the significant evolution in the DeFi landscape, with a mission of setting new standards for transparency and user-centric financial services – all backed by the power of Bitcoin L2s.
Blockchain
Rilla Network Revolutionizes Live Sports Streaming Delivery and Experience
Rilla Network is redefining live sports streaming by turning passive viewers into active participants. Its innovative protocol integrates interactivity and transactability natively, unlocking a new era of live-streaming experiences.
Rilla’s decentralized protocol enables users to contribute network capacity and earn rewards, while the network effects of value distribution foster deeper engagement and loyalty. Through real-time interactivity, audience members can transact directly during live streams, creating new economic models for the industry.
The Rilla platform features a viewership gamification and rewards framework, driving engagement with personalized experiences. Its hyper-granular analytics provide insights on a viewer-by-viewer basis, enhancing user experience and targeting. Additionally, consumption-based pricing and trustless billing ensure cost-efficiency and scalability with a logarithmic cost-to-serve model that keeps costs low even as audiences grow. Low-latency streaming further enhances viewer engagement.
With the traditional economics of live streaming becoming unsustainable, Rilla offers a solution to capture second-order network value, some of which is already lost to third-party networks such as social media. By integrating interactivity and transactability, Rilla ensures that the value generated remains within the live stream, benefiting content creators and viewers.
Co-founder and CEO, Hal Smith Stevens, said: “Today’s streaming models are outdated. Rilla Network enables fluid transactivity and audience interactivity, empowering viewers to engage actively with the content and the community. We’re transforming live digital experiences.”
Rilla Network has closed two funding rounds this year, including an angel and pre-seed round, raising a total of $3.5 million. The rounds were led by Blockchain Founders Fund and Blockchange Ventures, respectively.
Managing Partner at Blockchange Ventures, Ken Seiff, stated: “Rilla Network is transforming live streaming by addressing key inefficiencies and introducing innovative ways to enhance audience interaction and monetization. Its decentralized approach and ability to capture second-order value sets it apart as a true game-changer in live sports streaming. We’re thrilled to support such a forward-thinking team.”
The funds are being used to launch Rilla’s protocol through a pilot program in collaboration with major players in sports streaming. The company plans to run high-profile pilots before seeking seed funding in Q2 2025.
About Rilla
Rilla Network is a decentralized live-streaming protocol. Rilla is based in Dubai, UAE with world-class team members contributing globally. The founding team has decades of experience in software development, content streaming services, Web3, blockchain, AI, and machine learning. Learn more at https://rilla.network.
Blockchain
Unitas Protocol Upgrades Smart Contract and Completes Security Audit By ChainLight
Unitas, a DeFi stablecoin protocol addressing emerging markets’ dollar shortage issues in transactions and cross-border payments, has successfully upgraded its smart contract to the second stage. Prior to deployment, the smart contract was audited by ChainLight, a trusted Korea-based security firm under Theori with expertise in both Web2 and Web3 domains.
As a result, there is no high or critical issues found in Unitas Protocol, and 3 medium and 3 informational issues identified by ChainLight were fixed by the Unitas team. The full audit report is available on the Unitas Foundation website.
“The Unitas team demonstrated a high level of preparedness for the audit, with comprehensive documentation and robust testing procedures in place. We also enjoyed auditing the Unitas protocol because the concept itself was innovative,” said Brian Pak, CEO & Co-Founder of ChainLight. “It is important to note that potential risks may arise from macroeconomic factors or flaws in the source code, which require continued monitoring and management.”
Unitas Protocol mainnet was live on 31 July 2023 and before that, the testnet was launched after completing smart contract security audits by Sherlock. “Security and stability of the smart contract are the top priorities of Unitas,” said Sun Huang, co-founder and Chief Technology Officer of Unitas Foundation. “To ensure the best quality of Unitas protocol, each stage of the smart contract must undergo independent, multiple, and varied audits by different external third parties.”
In the first phase, Unitas protocol allows anyone to mint unitized stablecoins with USDT. It “unitizes” a USD stablecoin (e.g., USDT) into one local currency unit. The first unitized stablecoins open to minting are USD91 (INR-pegged), USD971 (AED-pegged), USD84 (VND-pegged), and USD1 (USD-pegged).
The first phase is focused on user engagement and application. The second phase, set for launch in September, centers on the role of Insurance Providers (IPs), who lend their USD stablecoins to the protocol to support its over-collateralization, a process known as “IP staking”. With the participation of IPs, including auctions, profit sharing, and 4REX token issuance, the Unitas protocol will operate independently and organically. For more details, please refer to the whitepaper.
Unitas Protocol is built for real-world stablecoin applications, solving USD liquidity issues in developing countries like India and Vietnam. Unitas Foundation will co-host the second edition of the Stablecoin Summit with the blockchain-enabled financial institution XREX Group on 20 September this year at Andaz Singapore.
About Unitas Foundation
Unitas Foundation is a non-profit organization founded in 2022. Unitas Protocol operates exogenously over-reserved stablecoins pegged to emerging market currencies. These stablecoins unleash emerging market potentials by facilitating foreign investment, cross-border payment, global market access, DeFi participation, efficient USD liquidity, and more.
About ChainLight
ChainLight is a blockchain security firm founded in 2016. Our clients span both Web2 and Web3 domains, including industry giants such as Microsoft, Samsung, Google, LG Electronics, Hyundai, DARPA, Upbit, Bur, Blast, and zkSync.
We are renowned for maintaining a record of zero client compromise and winning numerous CTF (Capture The Flag) hacking competitions. Additionally, we are a proud member of the Security Alliance (SEAL) led by Samczsun, Head of Security at Paradigm, committed to elevating the standards of blockchain security.
Blockchain
Merkle Trade, Gamified Perp DEX on Aptos, Launches TGE Sequence
Merkle Trade, the first gamified perpetual futures decentralized exchange (DEX) based on Aptos, the secure, scalable and feature-rich Layer-1 blockchain, is introducing its Token Generation Event (TGE) Sequence, uniquely featuring both Genesis Staking and a Liquidity Bootstrapping Auction (LBA). Backed by prominent investors like Hashed and Arrington Capital, Merkle Trade is building off the success of Genesis Staking that began July 25th, to launch its LBA running from August 29th to September 5th.
The LBA will offer early users exclusive USDC rewards for staking for an extended period. Merkle Trade differentiates from other perpetual DEXes with its focus on accessible and enjoyable trading for everyone, including casual traders. Users can start trading perpetual futures with as little as $2 in collateral, while enjoying gas-free transactions and a seamless user experience with order execution that doesn’t require constant signatures (i.e. 1-click trading). Its focus on user-friendly features has driven rapid growth, with Merkle Trade surpassing $12.9 billion in cumulative trading volume and attracting over 124,500 traders while becoming one of the top fee-generating protocols on Aptos.
Building off this traction, the project has launched a unique Token Generation Event (TGE) Sequence, introducing Genesis Staking and the Liquidity Bootstrapping Auction (LBA) as different ways for users to engage with the platform. These options are tailored to benefit both existing users and newcomers to provide diverse strategies to secure MKL tokens, manage positions, and earn additional rewards.
Genesis Staking allows preMKL holders to retain their MKL tokens while earning USDC rewards. These rewards are sourced from a portion of the protocol’s revenue and include access to a special reward pool with up to $200,000 in additional benefits. An impressive milestone has been reached with over 3 million preMKL tokens staked for an average duration of more than 20 weeks, accounting for over 22% of the circulating supply at the time of the token launch.
Liquidity Bootstrapping Auction (LBA) offers an opportunity for both existing users and newcomers to deposit USDC and/or preMKL over a 7-day period, during which the ratio between the two assets will establish the initial launch price of the MKL token. In return, participants receive MKL-USDC LP tokens, which come with dual rewards, including a share of 1% of the total MKL supply and trading fees generated by the pool.
Participants are encouraged to carefully evaluate their financial goals and the unique benefits of each option within the TGE Sequence. Both Genesis Staking and the LBA are designed to offer valuable opportunities, allowing users to select the path that best aligns with their individual objectives. To assist in making informed decisions, the team has provided an $MKL TGE Cheatsheet, offering clear and concise guidance on navigating these options.
About Merkle Trade
Merkle Trade is the first gamified perpetual futures decentralized exchange (DEX) based on Aptos. It provides omnichain support, including EVM wallet integration via LayerZero. Backed by prominent investors like Hashed and Arrington Capital, Merkle Trade uniquely combines a high-performance, secure perpetual DEX with the engaging, social elements of popular online and RPG games. Believing that making directional bets on volatile assets like crypto should be fun for all, the platform has significantly lowered barriers to entry for crypto asset trading.
About Aptos Network
Aptos is the secure, scalable, and feature-rich L1 blockchain of choice for both developers and users—delivering the best performance, the highest throughput, and lowest latency. Aptos is the first blockchain to use the Move programming language, and is designed with simplicity in mind for the best builder experience. Aptos is the top choice for next-gen use cases, real-world applications, and the millions of users that come with them. If it’s happening in Web3, it’s happening on Aptos.
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