Cryptoday 1.14| Decentralized asset custody protocol Entropy raises $1.95M, led by Dragonfly Capital
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Cryptoday 1.14| Decentralized asset custody protocol Entropy raises $1.95M, led by Dragonfly Capital
For a person, what is expected is not something else, but merely that he can devote himself wholeheartedly and dedicate his life to a noble cause.
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Cryptoday is a daily news column by TechFlow, focusing not on "news," but on asset movements.
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Funding Updates:
DeFi API startup Conduit raises $17 million in funding led by Portage Ventures
DeFi API startup Conduit has announced a $17 million funding round led by Portage Ventures, with participation from FinVC, Gemini Frontier Fund, and angel investors including Rex Salisbury, former partner at a16z. Conduit’s API software tools enable fintech companies, neobanks, and traditional financial institutions to easily integrate high-yield DeFi products into their existing offerings.
Cross-chain bridge Allbridge raises $2 million in funding led by Race Capital
Cross-chain bridge project Allbridge has announced a $2 million funding round led by Race Capital. Allbridge serves as a bridge for transferring assets between Ethereum and non-EVM-compatible blockchains. It supports chains including Solana, Avalanche, Fantom, Celo, Polygon, Ethereum, BSC, and Terra, with a current TVL exceeding $470 million.
Decentralized asset custody protocol Entropy raises $1.95 million in pre-seed funding led by Dragonfly Capital
Decentralized asset custody protocol Entropy has announced a $1.95 million pre-seed funding round led by Dragonfly Capital, with participation from The LAO and P2P Capital, and angel investors including Naval Ravikant, co-founder of AngelList. Entropy is a decentralized custody protocol leveraging advanced threshold cryptography and secure multi-party computation (MPC) to build a community-owned and community-governed network that enables users to securely store and use their cryptocurrencies across any blockchain.
DeFi
Decentralized liquidity protocol Tokemak announces support for alUSD deposits
On January 14, decentralized liquidity protocol Tokemak announced support for alUSD deposits—stablecoins generated by DeFi lending protocol Alchemix. Tokemak is currently building a liquidity aggregator designed to enhance liquidity for new projects.
DeFi project Hubble Protocol to conduct IDO on SolRazr on January 20
Solana-based launchpad platform SolRazr announced that DeFi and algorithmic stablecoin project Hubble Protocol will conduct its IDO on January 20 at 22:00 Beijing time, with a total allocation of $2 million. Whitelist registration will open on January 18 at 22:00 Beijing time. Hubble Protocol is a Solana-based DeFi and algorithmic stablecoin project that previously raised $3.6 million in seed funding from investors including Three Arrows Capital and Jump Capital. SolRazr is the first decentralized developer ecosystem in the Solana ecosystem, offering token launches, accelerators, and developer tools.
NFT/GameFi
NFT studio Candy Digital to launch NFT marketplace on January 15, featuring MLB series NFTs
Digital collectibles issuer Candy Digital announced it will launch its NFT marketplace on January 15, where users can purchase officially licensed Major League Baseball (MLB) NFT collections, including Play of the Day, MLB 2021 ICON, 2021 World Series Collection, and Team Candy Digital Jersey. In October 2021, Candy Digital raised $100 million in a Series A round at a $1.5 billion valuation, led by Insight Partners and SoftBank Vision Fund 2, with participation from Connect Ventures, Will Ventures, Gaingels, and Athletes Syndicate.
Others
PlatON and decentralized identity product QPassport form strategic partnership to enter the metaverse
According to official announcements, privacy AI computing network PlatON has formed a strategic partnership with next-generation decentralized identity product QPassport to jointly enter the metaverse. Guided by complementary strengths, the two parties will leverage AI, privacy computing, and blockchain technologies to build a metaverse platform and deploy a decentralized identity system, aiming to co-create a user-friendly metaverse ecosystem. QPassport adheres to decentralization as its core principle—users gain a “user-owned, user-governed, user-exclusive” decentralized identity upon registration, enabling access to PlatON’s ecosystem products. Through external extensions and plugins, users can further customize their unique decentralized identities. As a provider of privacy AI technology, PlatON will leverage its expertise in advanced AI and privacy computing to expand its metaverse footprint, collaborating with QPassport to inject new energy into a shared and co-governed metaverse ecosystem.
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