Protocol Village COTI sets aside $25M Ecosystem Fund during move to Ethereum Layer-2.

The Most Recent Updates in Blockchain Technology Upgrades, Funding Announcements, and Deals from Jan. 18-24

COTI Protocol Shifts Gears: A Move from DAG to Ethereum Layer 2

In a strategic move, COTI Protocol, known for its directed acyclic graph (DAG) technology, is shifting its focus to an Ethereum Layer 2 solution powered by Garbling Circuits technology. According to the team, this advancement will enable faster, lighter, and more secure privacy solutions, making way for applications like wallets, decentralized exchanges, AI training, and governance. To demonstrate their commitment, the COTI Foundation has allocated $25 million from its ecosystem fund to propel privacy-focused initiatives. The first recipient of this funding is Soda Labs, a company specializing in cryptographic multi-party computation (MPC).

🔗 Sources: COTI Protocol Shift

Q&A Content:

Q: What is COTI Protocol’s new strategic move? A: COTI Protocol is shifting from its previous directed acyclic graph (DAG) technology to an Ethereum Layer 2 solution powered by Garbling Circuits technology.

Q: What are the advantages of this move? A: This shift will enable faster, lighter, and more secure privacy solutions, facilitating the development of applications like wallets, decentralized exchanges, AI training, and governance.

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Q: How is the COTI Foundation showing its commitment? A: The COTI Foundation has allocated $25 million from its ecosystem fund to propel privacy-focused initiatives. The first recipient of this funding is Soda Labs, a company specializing in cryptographic multi-party computation (MPC).

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Matter Labs and iCandy Join Forces to Create zkCandy

Matter Labs, in collaboration with game developer iCandy, announced their joint commitment to developing a dedicated zkSync gaming and AI-focused hyperchain called zkCandy. This hyperchain will provide gaming and AI-specific tools, decentralized gaming infrastructure, developer resources, and a game development ecosystem. ZkCandy Limited will be established with both companies investing resources to build an ecosystem around the hyperchain.

🔗 Sources: Matter Labs and iCandy Collaboration

Q&A Content:

Q: What is the collaboration between Matter Labs and iCandy about? A: Matter Labs and iCandy are joining forces to develop a dedicated zkSync gaming and AI-focused hyperchain called zkCandy.

Q: What will zkCandy offer? A: zkCandy will provide gaming and AI-specific tools, decentralized gaming infrastructure, developer resources, and a game development ecosystem.

Q: How will zkCandy Limited be established? A: Both Matter Labs and iCandy will invest resources to build an ecosystem around the hyperchain and establish zkCandy Limited.

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Safary Secures $2.4M Pre-Seed Round Led by Lemniscap

Safary, positioning itself as the “Web3 alternative to Google Analytics,” has successfully closed a $2.4 million USD pre-seed round. Lemniscap led the investment round, with participation from notable entities such as Arca, SevenX, Big Brain Holdings, Saison Capital, Diaspora Ventures, and 20 angel investors. The funding will accelerate the development of Safary’s marketing attribution platform, empowering Web3 teams to analyze their marketing cost per acquisition (CAC), channel return on investment (ROI), and customer lifetime value (LTV). Safary’s solution allows projects to unlock powerful Web3 analytics by simply adding one line of code to their website. With Safary, project teams can track wallets, view Web3 conversions, and analyze on-chain actions.

🔗 Sources: Safary Pre-Seed Round

Q&A Content:

Q: How much funding did Safary secure in its pre-seed round? A: Safary closed a $2.4 million USD pre-seed round with Lemniscap as the lead investor and participation from various other entities.

Q: What does Safary offer as a Web3 alternative to Google Analytics? A: Safary provides a marketing attribution platform for Web3 projects, enabling them to analyze their marketing cost per acquisition (CAC), channel return on investment (ROI), and customer lifetime value (LTV).

Q: How does Safary’s solution work? A: By adding one line of code to their websites, projects can unlock powerful Web3 analytics. Safary tracks wallets, displays Web3 conversions, and provides insights into on-chain actions.

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Minima Achieves Total Decentralization Milestone: 25K-50K User Nodes

Minima, a layer-1 blockchain committed to being fully decentralized, has accomplished a significant milestone by turning off all centralized servers. Previously, Minima relied on 24 centralized servers, but now the network operates solely on the 25,000 to 50,000 nodes maintained by its user base. Referred to as “Decentraday” by Luke Edwards, Head of Communications at Minima, this achievement signifies their dedication to maintaining a truly decentralized infrastructure.

🔗 Sources: Minima’s Decentralized Milestone

Q&A Content:

Q: What milestone did Minima achieve? A: Minima has turned off all its centralized servers, relying solely on the 25,000 to 50,000 nodes maintained by its user base for network operations.

Q: How many centralized servers did Minima previously have? A: Minima used to rely on 24 centralized servers, but they have now been switched off in favor of a completely decentralized infrastructure.

Q: What is the significance of this achievement? A: This achievement showcases Minima’s commitment to maintaining a truly decentralized layer-1 blockchain.

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Mantle EcoFund Injects $10M into Six Promising DeFi Projects

Mantle EcoFund, a substantial $200 million ecosystem fund, has deployed $10 million, funding six Mantle DeFi projects. The recipients of this investment are Merchant Moe, INIT Capital, Butter.xyz, Renzo, and MUFEX. The funds will support these projects as they integrate $mETH (the 5th largest DeFi protocol by total value locked) and $mUSD, further enhancing Mantle’s status as a yield powerhouse with a best-in-class native yield offering. Additionally, Mirana Ventures will soon make a $30 million capital call for new Mantle projects, as outlined in MIP-24.

🔗 Sources: Mantle EcoFund’s Investment Announcement

Q&A Content:

Q: How much funding did Mantle EcoFund inject into DeFi projects? A: Mantle EcoFund deployed $10 million into six promising DeFi projects: Merchant Moe, INIT Capital, Butter.xyz, Renzo, and MUFEX.

Q: What significance does this investment hold for the Mantle ecosystem? A: This investment will bolster the Mantle ecosystem, as the funded projects integrate $mETH and $mUSD, contributing to Mantle’s status as a leading yield powerhouse.

Q: Is there any additional funding on the horizon for Mantle projects? A: Yes, according to MIP-24, Mirana Ventures will soon make a $30 million capital call for new Mantle projects.

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Reference List:

1. COTI Protocol Shift
2. Matter Labs and iCandy Collaboration
3. Safary Pre-Seed Round
4. Minima’s Decentralized Milestone
5. Mantle EcoFund’s Investment Announcement

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💡 Expert Commentary: Entering the New Era of Blockchain Technology

These recent developments within the blockchain space highlight the continuous innovation and evolution of the technology. COTI’s shift from a directed acyclic graph (DAG) to an Ethereum Layer 2 solution signifies a progressive step towards greater scalability and security. By embracing Garbling Circuits technology, this transformation enables COTI to offer faster and more secure privacy solutions, fostering the growth of various decentralized applications.

Similarly, Matter Labs and iCandy’s collaboration to create zkCandy demonstrates the increasing focus on integrating blockchain technology into gaming and AI sectors. With dedicated tools, infrastructure, and resources tailored for these industries, zkCandy aims to strengthen the possibilities for decentralized gaming and AI development.

Safary’s successful pre-seed round showcases the rising demand for Web3 analytics solutions. As Web3 projects continue to expand, the need for comprehensive marketing attribution platforms becomes crucial. Safary’s ability to track wallets, analyze conversions, and provide on-chain insights positions it as a promising alternative to traditional analytics tools.

In the pursuit of decentralization, Minima’s total shift away from centralized servers is a significant milestone. By entrusting network operations to its user base, Minima exemplifies the core ethos of blockchain technology, empowering individuals to participate in the network’s security and governance.

Lastly, Mantle EcoFund’s injection of $10 million into DeFi projects affirms the sector’s growing importance within the blockchain ecosystem. By integrating the leading DeFi protocols, Mantle strengthens its position as an attractive yielding platform for both developers and investors. The forthcoming $30 million capital call demonstrates the fund’s commitment to identifying and nurturing innovative projects in the future.

🔮 Future Outlook: The Path Ahead

As blockchain technology continues to mature and gain mainstream adoption, we can expect further advancements in scalability, privacy, and ecosystem development. Layer 2 solutions, like Ethereum’s, will play a critical role in alleviating congestion and improving transaction throughput. Moreover, as gaming and AI industries increasingly integrate with blockchain, we may witness the emergence of revolutionary applications and experiences that leverage the decentralized and secure nature of this technology.

Investors looking to leverage these trends may consider allocating resources to projects focused on Layer 2 solutions, gaming, and decentralized finance (DeFi). However, as always, thorough research and due diligence are essential before engaging in any investment decisions.

Have thoughts on these recent developments in blockchain technology? Share your views and join the conversation below! 🚀

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