Protocol Village: Gnosis DAO Spins off Karpatkey

As a seasoned crypto investor with a background in finance, I’m closely following the latest developments in the decentralized finance (DeFi) space. The recent news about GnosisDAO spinning off Karpatkey as a stand-alone entity and Mantle EcoFund deploying $5M in its second capital call are particularly intriguing.

As a crypto investor following the developments of the DeFi space, I’m excited to share that on June 4th, GnosisDAO made an important decision regarding Karpatkey. They voted to spin off this project as a separate entity, now managed by the KPK token. Since its inception, Karpatkey has handled over $2.6 billion in treasuries, offering essential risk management and on-chain financial services.

Mantle EcoFund Deploys $5M

On June 4th, the $200M Mantle EcoFund allocated $5M towards new investments. According to Mantle, seven projects in their SocialFi and gaming sector have received these funds: MetaCene, Blade Games, Co-Museum, Fingerlabs, L3E7, and DreamOS. In the words of Mantle, “These recently added projects within our EcoFund represent our conviction that SocialFi and gaming platforms hold the potential to bring the next billion users into the web3 realm.”

Everclear Launches Clearing Layer for Web3

On June 3, the company formerly known as Connext announced its rebranding to Everclear. Everclear aims to develop a Clearing Layer for Web3, addressing the issue of liquidity fragmentation in modular blockchains. The team has secured $5 million in funding from Pantera Capital and introduced their testnet, with the goal of minimizing liquidity management costs across various chains by up to 90%.

Nuklai HelixVM Early Testnet Launches

On June 2, Nuklai, a blockchain specifically designed for artificial intelligence, initiated the initial stage of its HelixVM Proof-of-Concept (PoC), making available fundamental features for both developers and users. This PoC, named as HelixVM Early Testnet, enables token transfer, creation, and other essential interactions, thereby empowering developers to construct projects on HelixVM.

Celo Integrates Chainlink CCIP

On May 29, the Ethereum layer-2 solution, Celo, announced the implementation of Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This integration is designed to bolster cross-chain security and dependability, enabling multiple token transfer methods and setting the stage for Celo to spearhead on-chain advancements.

SCRYPT Funding Round

On May 29th, the crypto asset finance company SCRYPT successfully concluded a $5 million investment round headed by Braza Bank. This financial injection is intended to fuel SCRYPT’s growth in Latin America and improve their existing product line.

JOJO Implements ZK-Proof for Funding Rates

On May 29, JOJO, a perpetual exchange on Coinbase’s Base blockchain, will collaborate with Brevis to integrate Zero-Knowledge proof (ZK-proof) technology for determining funding rates. This collaboration is intended to enhance price stability and improve liquidity for traders by efficiently calculating funding rates. According to the company, “Precise funding rates are crucial for perpetual futures as they ensure contract prices align with spot prices.” However, calculating these rates is computationally intensive. By leveraging Brevis’ ZK Coprocessor technology, the funding rate can be calculated swiftly and accurately, ultimately benefiting all traders.

Helix 2.0 by Injective Launches

On May 29, Helix – a decentralized spot and derivatives exchange operated on Injective platform – announced the launch of Helix 2.0. This upgrade comes equipped with innovative trading tools and expanded support for new perpetual futures contracts. According to Injective, who broke the news to CoinDesk, “Helix 2.0 amplifies DeFi trading possibilities by integrating TradFi market-making instruments and unlocks fresh opportunities to profit from RWAs in decentralized financial markets.”

API3 Strategic Funding Round

On May 28th, API3 successfully concluded a strategic financing event, with DWF Labs spearheading the investment of approximately $4 million. This funding is intended to boost liquidity and propel API3’s growth plans, as announced by the company itself. Notably, API3’s Total Value Secured (TVS) has surged past the $1 billion mark, following integrations with emerging platforms such as Optimism Superchain and Worldcoin.

The Graph Demos AI Chatbot

On May 28, Semiotic Labs unveiled a whitepaper concerning AI services and introduced a demonstration of Agentc – a ChatGPT-like tool. Agentc was developed utilizing The Graph, the blockchain indexing platform. This innovative chatbot is designed to simplify access to blockchain data via conversational language, with a demo accessible for a fortnight.