Lưu trữ cho từ khóa: Startup

Công nghệ

5ire launches hybrid layer-1 mainnet after 1m test transactions

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Blockchain startup 5ire has rolled out its mainnet after a successful testnet phase, aiming to redefine blockchain’s environmental impact.

Layer-1 blockchain platform 5ire has launched its mainnet following a successful testnet phase, advancing its mission to drive environmentally sustainable blockchain development. In an Aug. 15 press release shared with crypto.news, 5ire stated that the launch comes after its testnet recorded over one million on-chain transactions in its first month.

The network claims it can process up to 1,500 transactions per second, returns 50% of gas fees to users, and features a sustainable Proof-of-Stake mechanism that rewards environmentally conscious practices.

The platform’s dual-chain architecture — compatible with Ethereum’s virtual machine — allows developers to create decentralized applications with a positive environmental impact, the press release reads.

“Our primary goal is to build a long-term, sustainable product with a proven track record.”

Pratik Gauri, 5ire co-founder

Ecologically friendly blockchain

The network leverages its native token, dubbed “5ire Coins,” to incentivize users to join 5ire as validators or nominators. While validators can earn rewards by verifying transactions and producing new blocks, nominators can earn rewards by selecting and backing validators with their staked 5ire Coins, according to the press release.

The firm claims that reward distribution is based on “adherence to the network’s protocol” and a commitment to sustainable practices, aligning with the U.N. Sustainable Development Goals. The project also boasts partnerships with various institutional clients, including the Government of India, which is integrating the platform into its school curriculum.

This launch follows 5ire’s $100 million Series A funding round two years ago, led by Sram and Mram, which elevated the startup’s valuation to $1.5 billion, making it one of the world’s first sustainable blockchain unicorns in India. The firm plans to use the funding to expand its operations across Asia, North America, and Europe.

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DeFi

Blockchain startup Parfin raises $10m in Series A round

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Blockchain startup Parfin has secured $10 million in its Series A round, aiming to drive global expansion and bridge traditional finance with blockchain.

Mastercard-incubated Blockchain infrastructure firm Parfin has successfully closed the first tranche of its Series A funding, raising $10 million.

In a press release shared with crypto.news, the startup revealed that the round, led by ParaFi Capital, also saw contributions from Framework Ventures, L4 Venture Builder, and Núclea, with total funding projected to reach $16 million by the end of the second closing.

The proceeds from the funding are expected to help Parfin further develop its enterprise-grade blockchain platform, Rayls, increase its workforce, and accelerate its global expansion efforts throughout 2024. Parfin co-founder Marcos Viriato highlighted the strategic impact of the funding, noting that it will allow the firm to “help more banks and financial institutions realize new sources of revenue and stay relevant by leveraging the efficiency, security, and transparency of digital assets.”

Synchronizing defi with tradfi in Latin America

Founded in 2019 by Marcos Viriato, Alex Buelau, and Cristian Bohn, Parfin aims to bridge the gap between decentralized finance and traditional finance, offering financial institutions the regulatory compliance and privacy they need while capitalizing on blockchain technology.

In May, Parfin was selected for Mastercard’s Start Path program, which supports blockchain and digital asset startups with tailored training, collaboration opportunities, and access to Mastercard’s network and customers. To date, the company has raised a total of $38 million and serves clients including Banco BV, Núclea, and B3 Digitas, the digital asset services subsidiary of the Brazilian Stock Exchange.

Additionally, Parfin’s Rayls platform is now part of a pilot program with Brazil’s central bank, testing Ethereum‘s virtual machine privacy and scalability solutions for central bank digital currency initiatives.

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DeFi

RWA startup Zoth raises $4m to launch tokenized liquid note

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Real-world asset startup Zoth has raised $4 million in a strategic round to launch its Tokenized Liquid Note, featuring assets like U.S. Treasury Bills and corporate bonds.

Zoth, a decentralized finance real-world assets startup, has secured a $4 million strategic round to advance its efforts in launching digital versions of traditional fixed-income instruments on the blockchain.

In an Aug. 5 press release shared with crypto.news, the Singapore-headquartered startup said the funding was backed by Taisu Ventures, G20, Fat Cat Ventures, GemHead Capital, and Foundership Ventures, among others.

Zoth CEO Pritam Dutta commented on the funding, stating that the team is trying to build a “one-stop crypto yield layer solution for sustainable yield by harnessing onchain permissioned RWAs and permissionless defi fixed-yield products.” So far, the startup has deployed $13 million in private credit, with over $100 million originated and $200 million in the pipeline, the press release reads.

Crypto business bets on RWA

Founded in 2023 by Pritam Dutta and Koushik Bhargav, Zoth aims to become a chain-agnostic crypto yield layer, providing institutional and accredited investors with easy access to secure and sustainable fixed-income yield products onchain.

In addition to the latest funding, the startup earlier also raised $2.5 million in a seed round led by Blockchain Founders Fund alongside other backers such as Borderless Capital, Mindfulness Capital, YAP Capital, Singularity DAO, and Wormhole. In June, Ripple’s XRPL Accelerator included Zoth in its list of 18 startups to help them scale their projects on the XRP Ledger.

Beyond Ripple, Zoth has also collaborated with other partners such as Chainlink, Celo, XDC, and Funfair Ventures to bridge liquidity across traditional finance and defi.

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Công nghệ

Aptos reveals $10m ecosystem growth fund with support from OKX Ventures

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Aptos Foundation in collaboration with OKX’s venture arm has announced a new $10 million fund to support projects on the blockchain.

The Aptos Foundation, in collaboration with OKX Ventures, has announced the launch of a $10 million fund aimed at nurturing projects on the Aptos blockchain.

The joint fund dubbed Ankaa will be used to develop an accelerator program designed to bolster the growth of projects built on the Aptos blockchain, per an Aug. 1 press release. OKX Ventures says the accelerator will provide selected projects with venture support as well as “focused mentorship, go-to-market exposure, and access to the extensive network of experts.”

“With OKX and Aptos Foundation at the helm, this joint ecosystem growth fund and accelerator will prove critical to cementing Aptos as the Move-based layer-1 to prove out elusive use cases and onboard web2 developers into web3.”

Aptos Labs CEO Mo Shaikh

The initial focus of the fund will be on areas such as infrastructure, decentralized finance, real-world assets, gaming, social platforms, and artificial intelligence. However, it remains open to other decentralized applications deemed “critical to the growth and evolution of the Aptos ecosystem and web3 in general.”

Jeff Ren, a partner at OKX Ventures, highlighted the “immense potential” in Aptos, describing the Move programming language as a “game-changer for creating secure and efficient smart contracts.”

Despite the news, (APT) has seen a 4% decline, trading at $6.33, according to data from crypto.news. The drop comes as the ecosystem prepares to unlock over 11.3 million APT on Aug. 12, which represents more than 2.4% of its circulating supply, according to Token Unlocks data.

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DeFi

ZKX plunges 50% as protocol winds down services due to low user demand

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ZKX protocol, the first perpetual futures exchange on Starknet, has ceased operations due to the lack of user engagement.

ZKX protocol (ZKX), a decentralized perpetual futures trading platform based on Starknet (STRK), is winding down its operations as it faces economic challenges due to minimal user engagement.

In an X post on July 31, ZKX Protocol founder Eduard Jubany Tur expressed his regret over the decision, citing the inability to find “an economically viable path for the protocol.” The decision to halt operations stemmed from multiple factors, Tur said, referring to minimal user engagement and significantly reduced trading volumes.

“Our user engagement has been minimal, with only a few individuals mining STRK and ZKX rewards. Consequently, trading volumes have significantly decreased, and daily revenue can barely cover a fraction of our cloud server expenses.”

Tur on July 30

The ZKX Protocol founder also added that the project delisted all markets and closed positions, with funds now returned to “each user’s trading account.” Tur urged users to move their funds from trading accounts to their self-custodied wallets, with the closure period set to last until the end of August.

ZKX/USD 1-hour price chart, July 17-31 | Source: crypto.news

Following the news, the price of the ZKX token plunged by over 50% and is trading around $0.015, per data from crypto.news.

Founded in 2021 by a team led by Tur, Naman Sehgal and Vitaly Yakovlev, ZKX Protocol’s primary idea was to bring derivatives trading to the decentralized finance ecosystem using zk-rollups based on Starknet.

In July 2022, ZKX Protocol raised $4.5 million in a seed funding round. The investment came from a pool of investors, including StarkWare, Alameda Research, Huobi, Amber Group, and Crypto.com, among others. In total, the protocol secured $7.5 million.

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Công nghệ

Polychain-backed blockchain protocol Anoma seeks new funding at $1b valuation: report

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Blockchain infrastructure provider Anoma is said to be seeking new funding that would propel its valuation up to $1 billion.

Anoma Foundation, the non-profit entity that created privacy-focused blockchain Namada, is reportedly in discussions to secure new funding that would elevate its valuation to $1 billion, sources familiar with the matter told Bloomberg today, July 30.

Based in Zug, Switzerland, the Anoma Foundation is reportedly seeking to raise up to $40 million, although the exact list of potential investors remains undisclosed. A spokesperson for Anoma confirmed to Bloomberg that the organization is “in active discussions,” but didn’t specify a timeline for closing the funding round.

Founded in 2020 by Awa Sun Yin, Adrian Brink and Christopher Goes, Anoma positions itself as the first “generalized intent-centric blockchain architecture,” allowing developers to build multi-party decentralized on-chain applications.

In May 2023, Anoma raised $25 million in a funding round led by CMCC Global, with participation from investors like Electric Capital, Coinbase Ventures and Delphi Digital. This followed a $26 million round in 2021 led by Polychain Capital.

If successful, Anoma will join other blockchain startups reaching the $1 billion valuation milestone in 2024. For instance, web3 digital identity startup Humanity Protocol secured $30 million at a $1 billion valuation in May 2023, and IO Research, the developer of the Solana-based decentralized physical infrastructure network io.net, also achieved a fully diluted token valuation of $1 billion in its latest funding round.

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Công nghệ

Chainbase teams up with Alibaba Cloud to decentralize data for AI

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Blockchain startup Chainbase has joined forces with Alibaba Cloud to cut operational costs for its decentralized data distribution efforts.

Chainbase, a web3 interaction layer infrastructure for artificial intelligence, has entered into a collaboration with Chinese cloud provider Alibaba Cloud in a bid to halve its operational expenses for decentralized data distribution.

In an X announcement on Thursday, the Singaporean startup said the collaboration will help it focus on enhancing storage and GPU computing power “to decentralize the data network.”

“By joining forces, we’ve halved operational costs and achieved 100% uptime during the petabyte-level migration process.”

Chainbase

The startup also added it’s seeking an option to leverage Alibaba Cloud’s community resources “to accelerate our network and AI model development,” though didn’t provide the timeframe. Chainbase also didn’t disclose the terms of its collaboration with Alibaba.

Founded in 2021 by Damon Yue, Chainbase provides a suite of tools and services designed to support the development and scaling of blockchain applications. In mid-July, the startup secured $15 million in a Series A round co-led by Tencent Investment Group and Matrix Partners China. As per reports, the Chainbase mainnet network alongside its governance token CBT are expected to go live in Q4 2024.

Alibaba has been expanding its presence in the blockchain sector as part of its broader diversification strategy. In September 2023, Ant Group Digital Technologies, a subsidiary of Alibaba Group, introduced ZAN, a brand focused on providing blockchain development tools. As crypto.news earlier reported, the initiative aims to deliver a wide range of blockchain products and services designed to meet the needs of both institutional and individual web3 developers.

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Công nghệ

Fireblocks announces startup-focused blockchain starter toolkit

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Crypto safekeeping firm Fireblocks is rolling out a new suit aimed at empowering startups with blockchain-based tools.

Fireblocks, a platform for building decentralized apps and managing crypto operations, has launched a new tool designed to help startups develop blockchain-based products.

The new suit called Fireblocks for Startups aims to provide startups with blockchain infrastructure features, offering such services as treasury management, custody wallets-as-a-service, and embedded wallets among others, a press release shared with crypto.news says.

With the tool, startups could manage their day-to-day treasury operations in crypto, connect to trading platforms, and access decentralized finance. Additionally, it allows product builders to create non-custodial key management solutions, giving them control over their wallets, the press release reads.

Fireblocks co-founder Idan Ofrat says the company wants to help startups address security concerns, noting that many successful projects tend to focus “solely on maintaining front-end stability while neglecting security in the process” during periods of hypergrowth.

Founded in 2018 by Michael Shaulov, Pavel Berengoltz, and Idan Ofrat, Fireblocks offers blockchain firms a suite of products and services designed to provide infrastructure for managing digital assets. The company has raised over $1 billion in funding from investors including Cyberstarts, Tenaya Capital, and Eight Roads among others, according to data from PitchBook.

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Công nghệ

Stripe’s data partner Allium raises $16.5m to offer launchpads for financial institutions

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Blockchain data provider Allium has secured $16.5 million in a Series A funding round led by Theory Ventures.

Allium, a database startup enabling enterprises to query blockchain data, has raised $16.5 million in its Series A funding round to enhance its infrastructure.

In a Thursday press release, the New York-headquartered firm announced that this funding, which brought the company’s total capital raised to $21.5 million, was led by Theory Ventures with additional support from Kleiner Perkins and Amplify Partners. As part of the deal, Theory Ventures founder Tomasz Tunguz will join Allium’s board of directors. The company’s valuation following this round remains undisclosed.

Founded in 2019, Allium boasts support from major industry players such as Stripe, Visa, the Uniswap Foundation, and Phantom. The company provides businesses with the capability to query data from over 40 blockchains, utilizing more than 100 schemas.

The startup notes that the amount and complexity of blockchain data “makes it tedious and technically challenging to understand and report blockchain activity,” which is what Allium co-founder and head Ethan Chan says the company is trying to solve by normalizing data across multiple blockchains and processing thousands of smart contracts “equating to petabytes of data.”

With the latest funding round, Allium plans to use the proceeds to expand its data infrastructure and scale its “go-to-market motion to offer launchpads for financial institutions seeking to embrace digital assets, as well as payment providers, brokerages, and the blockchain ecosystems for builders.”

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