Interoperability protocol Axelar has facilitated the cross-chain functionality of yield optimization protocol Sommelier by connecting it to Ethereum Layer 2 network Arbitrum One. With the help of Axelar's General Message Passing (GMP) protocol, Sommelier's DeFi vaults, which operate on the Cosmos ecosystem and Ethereum, will now be available on Arbitrum, enabling users to optimize their crypto assets and trade through lending services. Axelar's GMP enables the transmission of data and commands between smart contracts on different chains, allowing cross-chain applications to operate effectively. Previously, in a Series A funding round led by Polychain Capital, Sommelier raised $23 million, which was overseen by former lead developer for Cosmos and Tendermint, Zaki Manian.

Axelar Integrates Sommelier DeFi Vaults with Arbitrum Network

1 min read

Axelar, an interoperability protocol, has enabled Sommelier, a yield optimization protocol on Cosmos, to become a cross-chain application by connecting it with Ethereum Layer 2 network Arbitrum One. Sommelier’s DeFi vaults operate on its blockchain in the Cosmos ecosystem and Ethereum, and now they will be available on Arbitrum One, allowing users to optimize yields on their crypto assets through lending and trading services. This development was made possible with

Phantom Wallet expands its capabilities with Ethereum and Polygon integration

Phantom Wallet now supports Ethereum and Polygon

1 min read

Self-custodial wallet Phantom has made a major announcement, revealing that its mobile app and browser wallets are now simultaneously supporting Ethereum and Polygon networks. This means that users can access a wide range of dApps across the Web3 landscape, including Uniswap, Magic Eden, Aave, OpenSea, and Blur. The popular Solana wallet first announced its support for rival blockchains Ethereum and Polygon in November last year, intending to offer the ability

Coinbase has announced that it will add Osmosis (OSMO)

Cosmos-Based DeFi Protocol Gains Momentum on Coinbase Listing Speculations

1 min read

Coinbase has announced that it will add Osmosis (OSMO), a Cosmos-based decentralized finance (DeFi) project, to its listing roadmap. This has given the OSMO token a price boost amid the ongoing market doldrums. Osmosis is an automated market maker (AMM) protocol built on the Cosmos software development kit (SDK) that enables cross-chain transactions using inter-blockchain communication (IBC). The project’s website explains that Osmosis allows users to launch liquidity pools with

Google Cloud and Polygon Labs have recently announced a multi-year strategic alliance

Google Cloud and Polygon Partner to Enhance Scalability and Security

1 min read

Google Cloud and Polygon Labs have recently announced a multi-year strategic alliance that includes support for Polygon in Google Cloud’s Blockchain Node Engine. The aim of this move is to simplify the deployment and management of Polygon nodes, making it easier for developers to build on the Polygon ecosystem and increasing its adoption. The Blockchain Node Engine, which already supports Ethereum, will also be integrated with Solana, as previously announced

Ripple Seeks Innovative Financial Projects in Open Call

Ripple Invites Web3 Developers to Create Financial Projects

2 mins read

The XRP Ledger Grants Program has announced its sixth wave, offering a golden opportunity for developers worldwide to create innovative financial projects on the XRP Ledger (XRPL). The program seeks projects that address financial inequities, streamline traditional financial processes, and provide new use cases for the XRPL. The deadline for applications is set for June 18, 2023. The Grants Program welcomes applications for various projects such as applications, services, tools,

Circle’s Cross-Chain Protocol Connects Ethereum and Avalanche Stablecoins

Circle Launches Cross-Chain Stablecoin Transfers between Ethereum and Avalanche

1 min read

Circle has released its Cross-Chain Transfer Protocol (CCTP) for Ethereum and Avalanche chains, making it possible for users to transfer their USD Coin stablecoin (USDC) between the two blockchain networks. The CCTP eliminates the need for traditional lock-and-mint approaches and allows developers to offer a secure experience to users for moving USDC natively across chains. Circle’s USDC is the second-largest stablecoin in the crypto market with a total supply of

Stellar network

Stellar Network Launches First-of-its-Kind US Mutual Fund on Public Blockchain

1 min read

The Stellar blockchain has made a significant announcement about a massive adoption milestone. The first U.S.-registered fund to use public blockchain technology for processing transactions and recording share ownership is now available on the Stellar network. Franklin Templeton’s OnChain U.S. Government Money Fund (FOBXX) is now available on the network through the Benji Investments app. This news marks the first time a U.S.-registered mutual fund has leveraged public blockchain technology

Cosmose AI

Cosmose AI’s Valuation Skyrockets to $500 Million Following NEAR Protocol Integration

1 min read

Cosmose AI, an AI-based company focused mainly on retail shopping, has teamed up with NEAR Protocol, the Layer 1 blockchain, to make crypto payments more cost-efficient. The partnership includes undisclosed funding from NEAR Protocol, which enables Cosmose to have a $500 million valuation. Cosmose’s KaiKai app will use NEAR’s blockchain infrastructure to make online payments cheaper. KaiKai has its native stablecoin, Kai-Ching, equivalent to $0.01. Users can on-ramp fiat and

Post-Shapella Ethereum: A Look at the Upcoming Cancun-Deneb Upgrade.

Beyond Shapella: Ethereum’s Cancun-Deneb Upgrade Nears Completion

1 min read

Ethereum’s core developers met on Thursday to plan modifications to the blockchain’s consensus layer in preparation for the upcoming upgrade, Cancun-Deneb. This upgrade, expected later this year, aims to make Ethereum cheaper for users by implementing new changes across the platform’s two mainnet layers: the execution layer and the consensus layer. The Cancun-Deneb upgrade will introduce Ethereum Improvement Proposal (EIP) 4844, also known as “proto-danksharding.” This proposal seeks to augment

Cardano ecosystem

Cardano ($ADA) Reports Impressive Growth: 1,227 Projects Being Built and 65 Million Transactions Processed

1 min read

Input Output Global (IOG) has released the weekly development report for the week ending on Friday, April 21, 2023, showcasing the latest statistics on the Cardano ($ADA) network. The report highlights the progress of various teams working on core technology, wallets and services, smart contracts, scaling, and governance. Among the updates, the Adrestia team released an update for Cardano-wallet with new endpoints for shared wallets and performance improvements. The Marlowe

Ethereum Implements New Measures to Tackle Miner Extractable Value (MEV)

Ethereum Implements New Measures to Reduce Miner Extracted Value

2 mins read

Ethereum Foundation researcher Justin Drake and bloXroute Labs CEO Uri Klarman recently appeared on Laura Shin’s podcast to discuss Maximum Extractable Value (MEV) and how it affects Ethereum users. In Ethereum’s new proof-of-stake (PoS) system, MEV is the result of sophisticated participants prioritizing and reordering transactions within new blocks, with validators using decentralized exchanges (DEX) to increase their earnings. Unlike Bitcoin mining pool operators, who are typically the only parties

Avalanche's Subnet Expansion Drives Spike in Daily Active Addresses

Avalanche’s Daily Active Addresses Skyrocket After Subnet Expansion

1 min read

April has been a remarkable month for Avalanche (AVAX). The network has witnessed notable growth in several areas, including a significant surge in daily active addresses since the beginning of the month. Avalanche’s daily active addresses remained below 45,000 from January to March. However, the network has experienced rapid expansion in the last three weeks, with daily active addresses exceeding 80,000. So, what’s the reason behind this tremendous expansion? Recent

© copyright 2024 all rights reserved | Optimisus