Paradigm has invested $20M in Ithaca, a spinoff company that's building a new Layer 2 blockchain
Paradigm invests $20M in a spinoff company that's building a new Layer 2 blockchain, which it hopes will accelerate blockchain development. Odyssey is the name of the Layer 2 that Ithaca will be building as part of a larger technology stack. The Layer 2, which is built with Reth and the OP Stack, is now live on testnet. Ithaca is building the full stack of products and tools that developers need to ship faster and that consumers need to have less and less friction.
🔗 theblock.co/post/320714/paradigm-invests-20-million-in-ithaca-a-spinoff-building-layer-2-blockchain-from-the-future
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Top 10 Derivatives DEXes by Total Value Locked
Users are gravitating towards derivatives DEXes due to fall of FTX and the need for self-custodian practices now. Let’s compare the top 10 derivatives DEXes by current TVL in USD include Jupiter, Hyperliquid, GMX, Drift Protocol, dYdX, ApeX, Vertex, Wasabi, Astherus and Derive according to DefiLlama.com.
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Top Blockchains by Number of Transactions in last 7 days
Let’s compare the top blockchains by number of transactions registered on-chain and average daily active addresses in last 7 days, according to Artemis.xyz, in order to evaluate their current adoption and performance.
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Aethir [ATH] launches $100M Fund to accelerate AI and gaming innovation
Aethir $ATH has announced the launch of the $100M Aethir Ecosystem Fund to accelerate the innovation of artificial intelligence and gaming. The 336M $ATH tokens, distributed equally between AI and gaming projects, will be used to build strategic partnerships and support innovation across various fields.
In addition to grants, the fund includes a subsidy program that covers up to 35% of off-platform GPU service costs, enabling companies to access high-performance computing without upfront costs.
Top Arbitrum Protocols by Total Value Locked
The total value of assets locked in Arbitrum $ARB is around $2.33B, according to DefiLlama.com. Let’s compare the top DeFi-protocols on Arbitrum by current TVL in USD, in order to evaluate their adoption scale.
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delta has closed its $11M Pre-seed funding round led by Figment Capital and Maven 11
delta has closed its $11M funding round led by Figment Capital and Maven 11. Variant, DBA, Reverie, Public Works, Credibly Neutral, Delphi Ventures, Robot Ventures, as well as angels from Eigen Labs, Celestia, Worldcoin among others, have also participated in the investment.
Delta is a Layer 1 platform positioned as a “network of networks” aiming to overcome the trade-off between blockchain sovereignty and interoperability. Delta’s architecture shares functional goals with major rollup clusters like OP Superchain, AggLayer, and ZKsync Elastic Chain, all of which face interoperability challenges due to Ethereum’s rollup-centric roadmap.
🔗 blockworks.co/news/delta-new-layer-1-architecture
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Ethereum restaking protocol Puffer Finance is launching PUFFER token with Airdrop on October 14th
Puffer Finance will launch $PUFFER token, a governance token for all Puffer products and services, as well as the vePUFFER Governance Mechanism. The total token supply is 1B $PUFFER, while initial circulating supply is 102.3M $PUFFER (10.23% of total token supply).
A total of 75M $PUFFER, or 7.5% of total supply is allocated for Season One airdrop. Another 5.5% of total supply is allocated for Season Two airdrop.
Top Blockchains by Commits and Development Activity in last 7 days
Let’s compare the top blockchains by GitHub commits and active developers in last 7 days, according to artemis.xyz, in order to evaluate their current development activity.
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Kiva Ai has raised $7M in a Pre-Seed funding round led by CoinFund
Kiva Ai has secured $7M in a pre-seed funding round led by CoinFund. Other investors in the round include HashKey Capital, NGC Ventures, Big Brain Holdings, Foresight Ventures, Breed, Protagonist, and Peer Ventures. Kiva AI is a company that provides comprehensive solutions for AI needs, focusing on data annotation, collection, curation, and fine-tuning.
🔗 x.com/KivaAi/status/1843647424407159072
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ZAP [ZAP] has conducted initial listing on Bybit, Gate, Uniswap and Aerodrome
ZAP $ZAP has been listed on Bybit, Gate, Uniswap and Aerodrome today, October 9th, at 10:00 UTC. Recently, ZAP announced its community airdrop of 3.5M $ZAP tokens (1% of token supply). Users will be rewarded based on several criteria including XP accumulated on ZAP chapters, valid bug reports, and testnet activity. The snapshot was taken on October 1st.
Users can claim tokens via ZAP dashboard 👉
partner.bybit.com/b/zap
Gate has announced a $10M investment in TON blockchain
Gate has announced a $10M strategic investment in The Open Network (TON) blockchain. This investment aims to enhance collaborations with the TON Foundation and accelerate the growth of Telegram-based projects. With this investment, Gate plans to deepen its involvement in the governance of the TON blockchain and contribute to its ongoing development.
The company will also focus on launching new products, such as an official CeFi-driven Telegram mini-app and a Gate Wallet within Telegram, to further support and expand the TON ecosystem. Previously, Bitget and Foresight Ventures have made a strategic $30M investment in TON blockchain.
🔗 gate.io/announcements/article/39737/gate.io-announces-10-million-investment-in-ton-blockchain-to-boost-telegram-based-projects
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Top 7 TON Protocols by Total Value Locked
The total value of assets locked in The Open Network $TON is around $400M, according to DefiLlama.com. Let’s compare the top protocols on TON blockchain by current TVL in USD, in order to evaluate their adoption scale.
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Gunzilla Games [GUN] has launched Early Access for Off the Grid
Gunzilla Games $GUN has rolled out early access for Off the Grid, a next-gen cyberpunk-styled F2P battle royale game built on the GUNZ blockchain. The game is available on PlayStation 5, XBOX, and PC (users can download it on Epic Game Store).
Gunzilla Games is a game developer behind ‘Off The Grid’, a AAA Battle Royale and gaming-focused blockchain GUNZ. It has raised $76M in two funding rounds backed by CoinFund, Blizzard Fund, Morningstar Ventures, Republic Capital and others.
🔗 www.youtube.com/watch?v=sZ1iA9LgQPY&t=1s
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Crypto.cоm has filed suit against the SEC after receiving legal threat from US regulator
Crypto.cоm has filed suit against the U.S. Securities and Exchange Commission (SEC). The exchange wants to protect the future of the crypto industry in the U.S., joining a series of peers who are actively defending themselves and taking action against a misguided federal agency acting beyond its authorization under the law.
Crypto.cоm's decision to sue the SEC follows receipt of a Wells notice from the Commission staff, illustrating that the SEC’s unauthorized and unjust regulation by enforcement campaign continues despite bipartisan indications that the next administration will take a more constructive and effective approach to advancing crypto in the U.S.
🔗 crypto.com/company-news/complaint
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Top Exchanges by Liquidations in last 7 days
The vast majority of the casualties were long positions last days, with more than $1.47B liquidated in total. Let’s take a look at the top exchanges by liquidations of longs and shorts within last week, according to Coinglass.com.
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bitSmiley [SMILE] has introduced details of Harvest Season Airdrop
bitSmiley $SMILE has unveiled details of Harvest Season Airdrop. Eligible users for airdrop include participants of Peoples Launchpad, Truemem Show, bitDisc Black, Season One bitPoint, community events, and bitDisc Black Stakers. The snapshot for bitDisc Black staking will be taken on October 16th, and the bitDisc Black of these stakers will be unlocked after the TGE.
Community members can still earn airdrop $SMILE by participating in bitSmiley community events.
Ethernity Chain [ERN] will launch Mainnet for its entertainment-focused L2 on October 29th
Ethernity Chain $ERN will roll out the mainnet on October 29th. Ethernity Chain is an entertainment-focused Layer 2 chain built on OP stack bringing Plug & Play Toolkit for brands to build next-gen Web3 apps spanning Web3 games, digital collectibles, and RWAs.
Previously, Ethernity Chain announced the launch of the Ethernity Grant Program with a $10M fund to fuel innovation in entertainment.
Yala has raised $8M in a Seed funding round co-led by Polychain Capital and Ethereal Ventures
Yala, a crypto startup developing a bitcoin-backed stablecoin, has secured $8M in a seed funding round co-led by Polychain Capital and Ethereal Ventures. Other investors in the round include Galaxy Vision Hill, Anagram, ABCDE, Amber Group, HashKey Capital, Satoshi Lab and UTXO Management.
Yala is currently under development, with the testnet expected to launch this month and the mainnet in Q1 of 2025
Uniswap Labs unveiled its Ethereum L2 to integrate Flashbot's rollup boost solution - Unichain
Uniswap Labs unveils a custom Layer 2 called Unichain, which will become part of the Optimism Superchain. The Superchain allows for the connection of multiple L2 networks, known as OP Chains, to share security, a communication layer and an open-source technology stack. Moreover, Unichain is the first Layer 2 to integrate Flashbot’s novel Rollup Boost solution, which will eventually lead to sub-second block times.
🔗 theblock.co/post/320446/uniswap-labs-unveils-unichain-the-first-ethereum-layer-2-to-integrate-flashbots-rollup-boost-solution
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OpenGradient has raised $8.5M in a Seed funding round backed by a16z CSX
OpenGradient has secured $8.5M in a seed funding round to build a groundbreaking end-to-end decentralized platform for sovereign, secure, and open-source AI. Investors in the round include a16z CSX, SV Angel, Coinbase Ventures, SALT Fund, Symbolic Capital, Foresight Ventures, Canonical Crypto, Black Dragon Capital, Celestia, NEAR Protocol, Thanefield Research, and others. OpenGradient is building a blockchain to bring the world's computing onchain.
🔗 opengradient.ai/blog/opengradient-raises-8-5m-to-decentralize-ai
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Optimism has completed its fifth Airdrop with $16M in OP tokens distributed
Optimism has rolled out its fifth airdrop allocating 10.3M $OP tokens (worth $16M at the moment) to 54,700 Superchain users. Users who interacted with at least 20 contracts on the Superchain between March 15th and September 15th are eligible to claim rewards. Users have to claim the tokens until February 13th, 2025.
Through five airdrops, Optimism has so far distributed over 265 million OP tokens. Around 550 million OP tokens remain for future distributions. Users can check eligibility here.
Thruster has announced Airdrop of 35M THRUST tokens to 135K users
Thruster will be airdropping 35M $THRUST (7% of total token supply) to 135K qualifying users of the protocol. The airdrop is distributed in two parts: 50% will be unlocked THRUST and 50% will be veTHRUST which is min-staked for 13 weeks.
Users who were eligible were based on whether: provided liquidity on eligible and productive pools, traded either WETH or USDB tokens into an eligible pool, were involved in sponsored credit campaigns and passed sybil checks.
VanEck launches $30M ventures fund for crypto and AI
VanEck has launched VanEck Ventures, a $30M fund investing in early-stage crypto and AI startups, adding to its existing lineup of crypto exchange-traded funds and private funds. The fund expects to make 25 to 35 investments, with check sizes ranging from $500K to $1M. The fund will make equity investments and also take stakes in the company in exchange for tokens tied to the project.
🔗 theinformation.com/briefings/vaneck-launches-30-million-ventures-fund-for-crypto-ai
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Only 12.7% of crypto wallets receive profits on Polymarket
Polymarket, a decentralized prediction markets platform, has worked out favourably for just 12.7% of user wallets. Data from the onchain analytics tool Layerhub shows that 149,383, or 87.3% of the 171,113 crypto wallets on Polymarket, did not make a profit. Wallets with confirmed profits amount to 21,730, or 12.7%.
Of the wallets that reported profits, only 2,138 users made more than $1K, with the majority of the profits being less than $100.
Top Base Protocols by Total Value Locked
The total value of assets locked in Base is around $2.28B, according to DefiLlama.com. Let’s compare the top protocols on Base by current TVL in USD, including Aerodrome, Uniswap, Extra Finance, AAVE, Morpho Blue, Moonwell, Beefy, Origin Ether, Overnight Finance and Anzen.
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Binance Labs-backed Sophon will launch Mainnet in November
Sophon has announced the launch of the mainnet in November. $SOPH token will be deployed with the mainnet genesis. This initial token deployment is not considered the official TGE, which is expected to take place at a later date to ensure a smooth rollout. More details on $SOPH tokenomics will be shared in the future. Moreover, participants in the Sophon Node sale will soon be able to claim their Guardian Membership NFTs, subject to KYC requirements.
By running a node on Sophon, users will be eligible to earn a share of up to 20% of $SOPH token emissions over 3 years. Node holders may receive potential airdrops from ecosystem participants.
Bitlayer has raised $9M in a Series A extension round co-led by Polychain Capital and Franklin Templeton
Bitlayer has secured $9M in a Series A extension round at a $300M valuation co-led by Polychain Capital Franklin Templeton. Other investors in the round include SCB Limited, Selini Capital, and G-20 Group. Bitlayer launched its V1 mainnet in April, and since then, nearly 300 projects have been built on its Layer 2 network.
Bitlayer is now preparing to launch its V2 mainnet, which will utilize its OpVM technique, a verification gadget that combines both validity proofs and fraud proofs.
Clearpool’s L2 Ozean has announced a partnership with Hex Trust
Clearpool $CPOOL has partnered with Hex Trust, a digital asset provider of custody, staking, and trading services, to launch Ozean, a Layer 2 blockchain for RWA yield. This partnership combines Hex Trust’s industry-leading technology and services, top-tier institutional client base, and regulated infrastructure with Clearpool’s RWA lending expertise to position Ozean as the premier blockchain to unlock the power of DeFi for RWAs, powered by the CPOOL token.
Ozean, with its seamless integration of RWAs in a compliant and user-friendly manner, enables users to earn native yield on-chain automatically. Current $CPOOL price is $0.15. Fully diluted market cap is $154M.
🔗 clearpool.medium.com/hex-trust-joins-forces-with-clearpool-to-launch-ozean-the-blockchain-for-rwa-yield-70115ccf01c5
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APRO Oracle has raised $3M in Seed funding co-led by Polychain, Franklin Templeton and ABCDE
APRO Oracle has secured $3M in a seed funding round co-led by Polychain Capital, Franklin Templeton and ABCDE Capital. Other investors in the round include Comma3 Ventures, CMS, Presto Labs, UTXO, and Oak Grove Ventures. APRO is a decentralized oracle network tailored for the Bitcoin ecosystem, providing reliable, fast, and cost-effective data solutions.
Moreover, APRO Oracle has introduced a diverse range of oracle product matrices, including support for Bitcoin L1, Bitcoin L2s, Ordinals, Runes Protocol, LST/LRT, Lightning Network, RGB/RGB++, EVM-compatible chains, Ton, and more.
🔗 x.com/APRO_Oracle/status/1843313910067364316
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Moonray Studio has raised $4.75M in a funding round backed by Animoca Brands
Moonray Studio, a multiplayer battle arena game, has secured $4.75M in a funding round. Investors in the round include Animoca Brands, P2 Ventures, and Cardano Foundation. In 2021, Moonray Studio raised $3.5M in a seed funding round backed by Animoca Brands, GBV Capital, Sfermion, LD Capital and others.
Moreover, Moonray Studio announced its mobile Autobattler game is coming in Q1 of 2025. Autobattler will leverage the same digital assets as the PC/console version including the $MNRY token enabling players to unlock special content and earn rewards in tournament matches.
🔗 venturebeat.com/games/moonray-studio-unveils-web3-mobile-autobattler-for-next-year
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