Crypto Daily Digest - January 14th

TI Research

Mayor of Rio de Janeiro, Brazil pledges to invest 1% treasury in Bitcoin and cryptocurrency. OpenDAO announced that $SOS is now live on Polygon. NEAR Protocol has closed a $150 million round of funding led by Three Arrows Capital with participation from Dragonfly Capital, a16z, Alameda, and others. Tokemak|Solana|cBridge

DeFi

An $alUSD Reactor is Now Live on Tokemak

Tokemak, the DeFi Liquidity Allocation Protocol, launched its $alUSD reactor in partnership with Alchemix. Users can now view $alUSD reactor at http://tokemak.xyz. Tokemak is a sustainable DeFi liquidity distribution protocol that is centered on creating sustainable liquidity rather than transient liquidity mining, while directing the distribution of liquidity through a decentralized approach. Source

01's Officially Going to Mainnet on January 27th

Solana Derivatives Exchange 01 announced that it will launch its mainnet on January 27. Officials are said to be launching perpetuals with deep liquidity, with the aim of being able to support 100 different derivatives and 50 different collateral types. It will also launch SQUOL, its first Power Perps product with a limited order book model. 01 is a fully decentralized derivatives exchange that develops decentralized derivatives such as perpetual options and binary options on Solana. Source

Tornado Cash has been Deployed on Optimism

Tornado Cash, an Ethereum privacy trading platform, is now live on Optimism, and it is reported that the Tornado Cash contract has been deployed by its community and is now live and running. Cash is a privacy trading platform on Ethereum that improves transaction privacy by breaking the on-chain link between the source and target addresses. Source

cBridge Now Supports Bridging to Moonbeam

cBridge, the cross-chain payment network from Celer Network, now supports bridging to Moonbeam under the Open Canonical Token Standard. Users is now able to use cBridge for a fast, low-cost cross-chain bridging experience between Moonbeam and 15 other supported blockchains and layer2 networks. In addition, the Celer Inter-chain Messaging Framework (Celer IM) will enable cross-chain function call, cross-chain dApp composability, and general message passing on Moonbeam very soon.This means that users from other blockchain ecosystems are also able to use applications built and deployed on Moonbeam through Celer IM. Source

OpenDAO Announced that $SOS is Now Live on Polygon

OpenDAO, a decentralized autonomous organization, announced that $SOS is now live on Polygon and that Polygon Bridge will support $SOS. Token holders can experience the high speed and low cost of Polygon Bridge when bridging between Ethereum and Polygon, referred to as $mSOS (Matic $SOS) to avoid confusion. Source

NFT

Dvision Network to Release LAND NFT on Polygon Mainnet

Dvision Network, a metaverse platform, announced that it will release LAND NFTs on Polygon mainnet and will launch a second round of land sales with the Polygon team. The deployment is reportedly complete on Polygon network. The sale will be conducted on Polygon-supported marketplaces, including Dvision's native marketplace. Dvision Network is a new VR content ecosystem that leverages blockchain technology and aims to bring a diverse experience to users. Source

Fundings

NEAR Protocol Closed $150 Million in Financing Led by Three Arrows Capital

NEAR Protocol, a smart contract platform, has closed a $150 million round of funding led by Three Arrows Capital with participation from Mechanism Capital, Dragonfly Capital, a16z, Jump, Alameda, Zee Prime, and others. Previously, NEAR had closed a $65.9 million round with participation from DCG, Pantera Capital, Coinbase Ventures and others. The funds raised will reportedly be used for eco-granting, developing a regional core and enhancing brand awareness of NEAR and its eco-projects, global community among new audiences to accelerate the widespread adoption of Web3 technology and help billions of users learn and understand blockchain and decentralized technologies. NEAR is a PoS public chain that uses sharding technology and aims to be the most friendly smart contract platform for users and developers. Source

Entropy Closed $1.95 Million Pre-seeded Round Led by Dragonfly Capital

Entropy, a decentralized asset custody protocol, has closed a $1.95 million Pre-seeded round of funding led by Dragonfly Capital with participation from The LAO and P2P Capital. The protocol aims to deliver a community-owned and led decentralized network leveraging advanced threshold cryptography and multi-party computation (MPC) to enable users to securely store and use their crypto on any blockchain. Source

Seashell Closed $6 Million Seed Funding Round with Coinbase Ventures and others

Web3 startup Seashell closed a $6 million seed round led by Khosla Ventures and Kindred Ventures, with participation from Coinbase Ventures, Solana Ventures and the Avalanche Foundation. Seashell is an investment app startup that aims to provide users with the easiest entry point to investing to generate high returns, and the company plans to launch its investment app in the first half of 2022. Source

Bribe Closed $4 Million Seed Round with Dragonfly and others

DeFi governance platform Bribe has closed a $4 million seed round led by Spartan Group, with participation from Dragonfly and Rarestone Capital, among others. Bribe creates DAO infrastructure tools to incentivize protocol participation in governance. Depositors deposit their governance tokens into Bribe pools to earn revenue, and bidders borrow votes to support or reject governance proposals. It is reported that Bribe will release its first VEV product for pledging governance tokens later this month, the Aave Bribe pool, which takes the form of a staked contract on Ethereum. A Tokemak Bribe pool will also be launched shortly thereafter. Source

Others

Rio de Janeiro Plans to Use Treasury to Invest in Bitcoin

Mayor of Rio de Janeiro, Brazil pledges to invest 1% treasury in Bitcoin and cryptocurrency. Source

Bitcoin

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