Protocol Village: Radix Plans $37M Endowment Fund, Fetch.ai Starts San Francisco Innovation Lab

Friday, Aug. 23

Radix Plans $37M Endowment Fund, Starts Search for Institutional Manager

Radix, a distributed ledger project built around native assets known as “resources,” has announced the planned creation of the 1.5 billion XRD ($37 million) Endowment Fund. According to the team: “The fund is intended to support long term ecosystem growth while securing financial support for the entities involved in the development and growth of the Radix platform and ecosystem. The process of selecting an institution to manage the fund – one requirement is that it have a balance sheet in excess of $1 billion in crypto – is underway. The selected partner will use Copper Custody, a regulated crypto custodian, to hold the XRD assets, and Twinstake, to provide the staking infrastructure where tokens may be deployed and staked as part of the overall strategy.” (XRD)

Fetch.ai Plans San Francisco Innovation Lab, Earmarks $10M for Projects Working on AI Agents

Fetch.ai, creating an agentic framework for autonomous digital ecosystems and a founding member of the Artificial Superintelligence Alliance, announced the launch of its Innovation Lab in San Francisco. According to the team: “This new center will drive the development of AI agent solutions that provide real value to businesses and consumers globally. To boost innovation in this area, Fetch.ai will invest $10 million annually to support projects focused on building AI agent solutions using its technology stack.”

Sony, Electronics Pioneer Behind Walkman, Starts Own Blockchain ‘Soneium’

Sony, the Japanese electronics giant famous for developing the Betamax and Walkman in the 1970s, is now starting its own blockchain. Sony Block Solutions Labs, a joint project between Sony Group and Singapore-based Startale Labs, said Friday it’s coming out with a new layer-2 network atop the Ethereum blockchain called Soneium. It will be built using the Optimism blockchain ecosystem’s OP Stack.

Thursday, Aug. 22

Tanssi, Appchain Protocol Historically Focused on Polkadot, Expands to Ethereum With Symbiotic

Appchain protocol Tanssi, historically focused on the Polkadot blockchain, is expanding to Ethereum with Symbiotic, a restaking protocol. According to the team, the effort could set “a new standard for the rapid launch of decentralized networks, aka Actively Validated Services (AVSs). What usually takes months can be done in minutes, allowing developers to deploy highly customizable and decentralized networks, with Ethereum’s robust security.”

SatLayer, Project for Staking Bitcoin Through Babylon, Raises $8M

SatLayer has raised $8 million in pre-seed funding, led by Hack VC and Castle Island Ventures, “to expand Bitcoin as a universal security layer,” according to the team: “Founded by MIT, Y Combinator, and Stanford alumni, SatLayer leverages Babylon Chain’s Proof of Stake to secure Actively Validated Services via BTC staking. ‘We’re excited for SatLayer’s launch on Babylon and its impact on BTC-secured AVSs,’ said Fisher Yu, Babylon’s co-founder and CTO. Users can stake Bitcoin on Babylon, restake liquid staking tokens (LST) through platforms like Lombard, PumpBTC and PStake on SatLayer, and earn rewards.”

VitaDAO Founders Launch Protocol ‘BIO’ With DAOs to Raise Funding for Scientific Research

The founders of VitaDAO, a Web3 community devoted to longevity health research and products, launched BIO, a “new protocol enabling global communities of patients, scientists and biotech builders to collectively fund and commercialize new therapeutics,” according to the team: “Revenue from new therapeutics flow back into the BIO Network, creating value for network participants. BIO completed the first round of its TGE, raising $6.2 in a public sale, with participation from VCs like Zee Prime, 1kx ID Theory. Details on the second round of BIO’s TGE will be announced soon.” According to the project documentation: “BioDAOs raise funding via token sales, and use their treasuries to back and develop biotech projects related to their mission, creating shared IP ownership between their members. BioDAOs use Molecule’s on-chain IP framework to own, license, and transact in intellectual property generated from the projects they support.”

Bitcoin Layer-2 Developer Ark Labs Raises $2.5M From Draper, Fulgur, Axiom, Stephen Cole

Ark Labs, building a Bitcoin layer-2 network, has secured $2.5 million in pre-seed funding led by Draper Associates, with backing from Fulgur Ventures, Axiom Capital and angel investor Stephen Cole. According to the team: “This funding will advance Ark Labs’ work on seamless, scalable Bitcoin payments via the Ark protocol. Signups are open for the Ark Node beta, a user-friendly Lightning Network wallet. Ark Labs is seeking talent, developers, and partners to join its mission to revolutionize global payments.”

Paradigm-Backed Bug Bounty Platform Code4rena Acquired by Security Audit Provider Zellic

Zellic, a provider of security audits in the blockchain industry, announced its acquisition of Code4rena, a project for competitive audits, claiming “the largest collection of security researchers in the space.” According to the team “This strategic move marks Zellic’s first acquisition and will enable both companies to offer clients a new level of deeply comprehensive security review, Audits+. Code4rena will continue to operate as its own business under its original brand, with its existing team and leadership intact.”

Stork Network, Provider of Pricing Oracles, Raises $4.7M, Led by Lightspeed Faction, Lattice

Stork Network, a provider of pricing oracles across several asset classes, announced that it has raised $4.705 million in seed funding. According to the team: “This fundraising round is co-led by Lightspeed Faction and Lattice, with participation from CMS and Wintermute Ventures. The funds will be used to expand Stork Network’s product suite including building out and bringing to market the Open Data Market. Meredith Pitkoff, co-founder at Stork Network.

SwapKit.dev, Cross-Chain Infrastructure Solutions Provider, Integrates With BitPay

SwapKit.dev, a provider of cross-chain infrastructure solutions, announced an integration with BitPay, the Bitcoin and cryptocurrency payment processor. According to the team: “This integration will empower BitPay users to unlock a wider range of digital assets, leveraging SwapKit to access cross-chain liquidity via THORChain for seamless in-wallet exchange of diverse cryptocurrencies. This partnership will provide significant benefits for Bitpay users, including:

1. Expanded Blockchain Support

2. ERC-20 Asset support

3. Reduced Friction

4. Enhanced User Experience

Credbull Closes $5.2M Round Led by Gnosis VC to ‘Democratize Private Credit’ On-chain

PROTOCOL VILLAGE EXCLUSIVE: Credbull, which in April launched what it described as the “first licensed on-chain private credit fund” on the Polygon PoS blockchain, announced a $5.2M funding round led by GnosisVC, with strategic participation from Outlier Ventures, HODL Ventures, XBTO, LucidBlue Ventures, CryptoHedge, Marcello Mari (SingularityDAO) and others. According to the team, “Credbull aims to democratize private credit RWA investments by connecting traditional finance with Web3.”

Aave Comes to Ethereum Layer-2 Project ZKsync’s Era Mainnet

Aave, the biggest DeFi lending protocol with a total value locked of $11.9 billion, announced the launch of Aave V3 on Era Mainnet, powered by ZKsync. According to the team, “Aave can access advanced ZK tech with low-cost transactions while deriving security from ETH with cryptographic validity proofs.” Chainlink, the blockchain oracle project, “will provide secure and reliable price feeds.” Aave founder Stani Kulechov said in a statement relayed by a spokesperson for the project: “Era Mainnet offers the highest level of scalability and performance and with zero knowledge proofs, the opportunity to add privacy capabilities and additional security for users and institutions. Additionally, the Elastic Chain ecosystem can expand to accommodate various institutional use cases while ensuring scalability.” (AAVE) {{ZK}}

Blockchain Oracle Chronicle Launches ‘RWA Oracle’ Via Integration with M^0

Chronicle, which was the first oracle on Ethereum and is currently the sole securer of MakerDAO, has launched its RWA Oracle via an integration with M^0, “an on-chain protocol that allows multiple Minters to issue a fully fungible cryptodollar called $M.” According to the team: “In this collaboration, Chronicle serves as an independent validator, verifying M^0’s collateral balances. As a result of its integration with M^0, Chronicle is permissioned by the protocol’s governance to provide timely information on the off-chain collateral being used by Minters to generate $M, ensuring the integrity and reliability of the $M cryptodollar.”

Legion, ‘Merit-Based ICO Platform,’ Emerges From Stealth With $2M

Legion, describing itself as a “merit-based ICO platform,” has emerged from stealth and announced a $2 million raise from founders, accelerators and angels. Backers include Cyber Fund, AllianceDAO, Delphi Labs, CoinGecko, Mike Dudas, Alex Svanevik, Peter Smith, Maggie Love, Jon Wu, Ryan Watkins and LongHash. According to the team: “The platform plans to become MiCA compliant and provide investment access to non-accredited investors. By ranking investors by merit (on-chain and off-chain reputation), rather than net-wealth, Legion says teams can build higher quality communities, and short-term holders are disincentivized.”

Binance Labs Invests in BNB Chain Accelerator Projects Aggegata, Opinion Labs, SideKick, Vooi

BNB Chain has announced that four top-performing projects from Season 7 of its MVB program – an accelerator designed to drive growth within the BNB Chain ecosystem – have received investment from Binance Labs. The selected projects include:

• Aggregata unifies AI data, models, and computing into a seamless, one-stop platform.

• Opinion Labs is building dynamic opinion and continuous prediction markets.

• SideKick is the Consolidation Hub For Social, games & beyond

• Vooi is a cross-chain perp DEX aggregator supporting EVM and non-EVM chains.

Web3 Streaming Platform Myco.io to Ship Content on Aptos

Myco.io, a Web3 streaming platform, announced a strategic partnership with Aptos Foundation to ship content on the Aptos blockchain. According to the team: “The collaboration will focus around technical integration, developing builder resources and a mutual commitment to advancing Web3 technologies and delivering next-generation, decentralized digital streaming experiences.” (APT)

Aave Adds METIS as Collateral on Metis L2

Aave, which had already deployed on the Ethereum layer-2 network Metis, has integrated METIS as collateral, “expanding asset management strategies for users,” according to the team: “With a 30% LTV ratio, users can borrow assets based on their METIS holdings. This offers liquidity without selling METIS, access to various financial tools and benefits from faster, cheaper transactions on Metis compared to Ethereum mainnet.”

Decentralized AI Project Mira Hires Uber’s Naik as Chief Product Officer

Mira, a decentralized AI infrastructure platform, hired Ninad Naik, a former Uber executive, as chief product officer. According to the team: “In his new role, Ninad will spearhead product innovation, playing a crucial role in Mira’s mission to expand global AI access through decentralization. Ninad joins Mira from Uber, where he led the core marketplace product for Uber’s food and grocery delivery business globally. Prior to Uber, Ninad has held multiple GM and product leadership roles at Amazon across its AI, hardware, and marketplace businesses.”

Yonsei University AI Researchers to Use Theta EdgeCloud to Accelerate Model Training

Yonsei University’s AI researchers will use Theta EdgeCloud to accelerate AI model training and inference for research in machine reasoning and data mining, according to the team: “Led by Professor Dongha Lee, the lab will develop advanced tools like a table reasoner and summarizer to extract implicit knowledge from tabular data. By utilizing Theta’s scalable platform, the lab can reduce costs by more than 50% compared to traditional cloud services.”

OORT, Provider of Blockchain-Based Verification Layer for AI Data, Partners With National Science Foundation Center

OORT, a cloud platform for decentralized AI, has partnered with the National Science Foundation’s(NSF) eCAT (Electric, Connected, and Autonomous Technologies for Mobility) IUCRC research center. According to the team: “OORT, which provides a blockchain-based verification layer for data used by AI engines, will collaborate closely with leading institutions in this project including Wayne State University, Clarkson University, the University of North Texas, the University of Delaware and Oakland University. OORT will also work alongside companies including leading American Data Storage and Western Digital.”

GaiaNet, Decentralized AI Inferencing Project, Launches Hackathon

GaiaNet, a project for decentralized AI inferencing, is launching a global “Living Knowledge Systems Hackathon,” which will run from Aug. 22 to Sept. 13. Registration began Aug. 19, 2024. According to the team: “The prize pool will include up to $50K in rewards. Winning participants will also be invited on an expense-paid trip to TOKEN2049 Singapore, where they will join the GaiaNet executive team at an exclusive launch party. The aim of the event is to build decentralized nodes, solve security vulnerabilities in centralized AI models and tackle issues like censorship, algorithmic bias and data privacy.”

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.