Search Results for: Solana Ventures

“VISA has enhanced its stablecoin settlement ability with Circle’s USDC stablecoin on the high-speed Solana blockchain, making it one of the first financial institutions to harness Solana for scaled settlements. VISA’s integration of stablecoins like USDC on global blockchain networks aims to improve international settlements speed and give clients a modern option to conveniently transact funds.”

Solana-based automation protocol, Clockwork, is ceasing operations due to the ongoing crypto bear market and changing professional interests. Despite the project’s code remaining open-source on GitHub, the bear market has impacted Solana’s ecosystem. With DeFi volumes dipping significantly, the total value locked (TVL) has drastically fallen, revealing the vulnerability of crypto giants to market volatility.

BNB Chain leads in user activity with 10.9 million active wallet addresses in April, outperforming Solana and Ethereum. Despite an 11% dip in activity, key players like Polyhedra, LayerZero, and Stargate Finance contribute to its dominance. However, Binance USD faces regulatory challenges and a decline in traffic, highlighting the crypto ecosystem’s volatility.

“Blockchain networks may face growth obstacles due to “chain tribalism”, resistance to cross-chain collaboration. However, a shift towards chain interoperability, or different blockchains interacting, is expected by 2023. Notable upcoming developments aim to enhance this interoperability, although existing methods risk security breaches and require improvement.”

Gleen, a California-based chatbot service, raised $4.9 million in funding, attracting investors from both traditional software and crypto sectors. The firm focuses on blockchain infrastructure channels on Discord, with a proprietary machine-learning layer combating the issue of ‘hallucination’ in artificial intelligence systems and providing accurate data storage and retrieval.

Crypto gaming startup Argus Labs raised $10m in seed funding for its World Engine, an SDK enabling game developers to create custom layer-2 blockchain networks on Ethereum. The platform aims to revolutionize gaming with increased on-chain elements, scalability, and user-generated content, empowering developers and players to build and expand Web3 games and communities.

Multicoin Capital leads a $2.3 million seed funding round for FastLane Labs, a maximal extractable value (MEV) protocol designed for the Polygon network. FastLane Labs offers an innovative auction system that rewards validators without spamming the blockchain, using off-chain and external auctions to minimize redundant transactions.

The future of blockchain technology is deeply interconnected with cross-chain messaging protocols, like Wormhole. A recent $50 million fund aims to assist startups working with Wormhole, driving progress in building innovative applications, infrastructure, and tools across various ecosystems.

Injective, a layer-1 blockchain, has integrated Pyth onto its mainnet, enabling decentralized applications (dApps) to access on-chain data for hundreds of markets, such as equities, commodities, and cryptocurrencies. Injective’s Pyth integration highlights the growing synergy between traditional finance and decentralized markets, possibly fostering a new era of cross-chain data composability and impacting the DeFi space.

Crypto venture capital firm Credibly Neutral has raised $5.5 million from investors, including Solana and Polygon founders. The early-stage-focused fund aims to invest in protocols, infrastructure, and crypto software-as-a-service projects while promoting credible neutrality and fostering a more inclusive blockchain future.