Cryptoday 11.23 | Decentralized interoperability network Axelar completes strategic funding round led by Crypto.com
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Cryptoday 11.23 | Decentralized interoperability network Axelar completes strategic funding round led by Crypto.com
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Funding Movements:
Fitness Metaverse Project OliveX to Raise 8 Million AUD via Share Placement
On November 23, fitness metaverse project OliveX announced it will raise 8 million AUD through a share placement, with commitments from Animoca Brands, One Football, and Bombora Investment Management. The funds will be used to continue developing its metaverse fitness game, Dustland Runner. Earlier in October, OliveX raised $1.7 million in a strategic funding round led by Animoca Brands.
Play-to-Earn Game Syn City Raises $8 Million
Syn City, a mafia-themed game founded by Roy Liu, former business lead at TRON, announced on Monday that it has secured $8 million in funding. The round was co-led by Justin Kan, co-founder of Twitch, and Goat Capital, with additional backing from A&T Capital, Hack VC, Animoca Brands, and Spartan Group. According to a press release, the game’s development team includes veterans from Disney, Ubisoft, Roblox, EA, and Gameloft.
Metaverse USM Receives Strategic Investment from OKEx Blockdream Ventures
According to official announcements, Radio Caca's metaverse USM has received strategic investment from OKEx Blockdream Ventures. OKEx Blockdream Ventures is the investment arm of OKEX, with an initial capital of $100 million dedicated to supporting cutting-edge blockchain innovation. RACA has also officially bridged to the OEC network. USM is a 3D planetary virtual world where players can purchase land and build stores or art galleries. It will feature a large internal NFT marketplace for collectible trading and support IGO (Initial Game Offering) for games and ISO (Initial Social Offering) for social applications.
Decentralized Interoperability Network Axelar Completes Strategic Funding Led by Crypto.com
On November 23, decentralized interoperability network Axelar announced it has secured strategic investment from Crypto.com Capital. In addition to Crypto.com Capital, other notable investors in Axelar’s latest round include Informal Systems Inc., 0xMaki (co-founder of SushiSwap), Morningstar Ventures, Scytale Ventures, and Zero Knowledge Validator. The funding amount has not been disclosed. The funds will support the continued development of Axelar’s core team and advance decentralized interoperability across blockchain ecosystems. Previously, in July, Axelar completed a Series A round raising $25 million, led by Polychain Capital.
DeFi
BSC Lending Protocol Ploutoz Finance Attacked, Hacker Gains ~$365K
On November 23, according to PeckShield, the Binance Smart Chain-based lending protocol Ploutoz Finance was attacked, with the hacker profiting approximately $365,000—though the protocol’s losses were greater. The attack was enabled by manipulation of the $DOP price oracle. Specifically, the attacker used manipulated $DOP tokens as collateral to borrow other assets such as $CAKE, $ETH, and $BTCB. The hacker then swapped these assets into BNB via ParaSwap and PancakeSwap before sending them to the mixer @TornadoCash. Notably, the initial capital used in the attack also originated from @TornadoCash.
Bancor to Reveal V3 Features at End of November
On November 23, decentralized automated market maker Bancor announced it will unveil the features of its V3 version on November 29 at 8:30 PM ET. The update promises significant improvements in mitigating impermanent loss. Additionally, Bancor has partnered with DeFi analytics platform APY Vision to launch il.wtf, a website allowing users to input their Ethereum address to calculate accumulated impermanent loss history.
TrueUSD Launches on SpookySwap, Initiates TUSD-USDC Liquidity Incentives
According to official news, TrueUSD has launched on the decentralized exchange SpookySwap, enabling users to provide liquidity to the TUSD-USDC pool and earn BOO rewards. Users who participate in the TUSD-USDC pool within the first 48 hours of launch will receive double-speed liquidity rewards. TrueUSD is a dollar-pegged digital asset verified in real-time on-chain. It is currently listed on over 100 exchanges including Binance, Huobi, and Poloniex, and deployed across multiple blockchains such as TRON, Avalanche, BSC, and HECO, actively participating in various DeFi ecosystems. TrueUSD maintains a 1:1 reserve ratio, ensuring full dollar backing.
NFT/GameFi
Givenchy Launches NFTs to Promote 2022 Spring Collection
On November 23, French fashion house Givenchy collaborated with digital artist Chito to launch an NFT series comprising 15 unique editions to promote its 2022 spring collection. The project was led by Givenchy’s creative director Matthew M. Williams. Earlier in June, the brand partnered with digital platform Veve to release NFTs celebrating Pride Month, with proceeds supporting the LGBTQIA+ community.
Metaverse Platform Dvision Network to Begin Selling Land NFTs on Nov. 24
On November 23, NFT metaverse platform Dvision Network announced it will begin offering LAND Lot NFTs starting November 24. The sale will take place across three platforms, allowing users to purchase land parcels beginning at 11:00 UTC (19:00 Beijing time) on November 24 via BinanceNFT, NFTb, and the Dvision Marketplace.
Adidas Originals May Enter NFT Virtual Land Project The Sandbox
On November 23, NFT virtual land project The Sandbox announced on its official Twitter that Adidas Originals, a brand under Adidas, is entering The Sandbox metaverse and invited Adidas Originals to jointly organize creators to build within the Sandbox “metaverse.” Adidas Originals subsequently responded positively to the invitation.
Others
Ethereum Foundation: Kintsugi Testnet Expected to Launch Early December
On November 23, the Ethereum Foundation announced that its Kintsugi testnet is expected to officially launch during the first week of December. Specifications and plans for the Kintsugi testnet have been released, and developers are making final adjustments. The Kintsugi specification incorporates all knowledge and fine-tunings from Amphora interoperability efforts, aiming to integrate new changes and facilitate the implementation of The Merge. After the Kintsugi testnet launches, relevant EIPs and specifications will enter their final call phase, with public proof-of-work and testnets transitioning toward merging in the new year. Additionally, the Ethereum Foundation confirmed the Arrow Glacier network upgrade will occur at block height 13,773,000 (around December 8), requiring nodes to complete upgrades by December 5.
RenVM Mainnet to Soon Launch Host-to-Host Functionality
On November 23, Ren ecosystem builder Maximilian Roszko tweeted that the RenVM mainnet is about to launch Host-to-Host (H2H) functionality—the biggest upgrade to RenVM since the protocol’s launch in Q2 2020. H2H enables RenVM to bridge native tokens between supported chains. Initially supporting seven assets including BTC and DOGE, the system will eventually scale to thousands of tokens. Furthermore, H2H will make transferring wrapped tokens between smart contract chains easier and cheaper—for example, moving renBTC from Ethereum to renBTC on Arbitrum—enabling a new “Burn and Mint” transaction type that burns wrapped tokens on one chain and mints them on another without moving the underlying asset, thus saving transaction fees. Additionally, the RenJS developer SDK has been refactored, enabling developers to integrate cross-chain functionality directly into front-end applications.
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