This week in Dapps Ep.90
Future is Cross-chain, Celer’s DNS hijack, Acala Network destroyed $1.2B $aUSD, Fractional art's rebranding & more important updates 👀
Project launch of the week - Blocktorch 🎉
Blocktorch has been launched this week through our Buidl Launchpad. Buidl helps early projects + existing projects in the space with project launch, network & community building. You can read more about Buidl here ↗
Food for Thought 🧐
Future is Cross-chain - Blockchain technology is getting adopted due to its functionalities and capabilities. The technology is being leveraged at a large volume which is leading to a steady rise in blockchain projects. As different blockchain is not able to communicate which restricts them from using each others characteristics. This dilutes blockchain’s potential and leads to a decline in its usability and impacts industry growth.
This is where Cross-chain technology comes into play. Cross-chain technology facilitates interconnection among several blockchain networks to create a seamless exchange of information and values. This, in turn, break the solitary nature of every blockchain while creating an intertwined blockchain ecosystem.
Cross-chains are completely independent of their connected platforms, which ensures they are not subjected to any of their shortcomings. The idea behind Interoperability is facilitated by a cross-chain architecture, allowing two or more blockchains to trade off their efficiency, decentralization, feature set, and security. This can help to increase chain efficiency, eliminate fragmentation, and allow users and features to move freely across many blockchains.
Some of the most prominent Cross-chain projects include, Avalanche Bridge, Wormhole Token Bridge, BitGo’s Wrapped Bitcoin (WBTC), Axie Infinity’s Ronin bridge, Ren, debridge, Multichain, Synpase, Zapper, and much more.
Major Highlight 🤯
Celer Network asked users to revoke the approval for several contracts after shutting down its cBridge over a suspected Domain Name System (DNS) hijacking. Read More
Tornado Cash community fund multisignature wallet disbands amid sanctions. Read More
New launches 🚀
Introducing Lanyard : An open source tool from Context, Zora, mint.fun and more. Read More
Celestia, helping developers and communities to deploy their own custom-made blockchains. Read More
Meta launches the first drag show in the metaverse. Read More
Phantom Wallet launches burn NFT feature to fight crypto hacks. Read More
Fundraises 💰
Shima Capital raised $200M Fund to support early-stage Web3 startups. Read More
Fractional raised $20M in series A and rebrands to Tessera. Read More
MatchboxDAO raised $7.5M. Read More
.bit raised $13M in series A funding to build cross-chain decentralized identity protocol. Read More
MBD Financials raised $10M in seed round. Read More
Unlockd raised $4.4M. Read More
Rekt ⚠️
BlueBenx suffered an attack which resulted in the loss of $32M. Read More
Acala Network blockchain poised to destroy more than $1.2B $aUSD after some LPs were able to claim excessive rewards. Read More
Jobs 👨💻
Bounties 💸
Symbiosis - $100,000
pStake - $300,000
Stader for BNB - $1,000,000
Read💡
What is sudoswap and how to use it? Read Here
3-step framework to think through governance token design. Learn More
10 web3 research tools. Know More
Watch 📺
Building Communities that Make Web3 Projects Succeed. Listen Now
A Guide to On-Chain Analysis and How It Works. Watch now
Our Updates🦉
Vote for your favourite projects to get listed on The Dapp List here
Observing & analysing smart contracts by Gery from Blocktorch. Listen to the conversation here
Recommend a good project that you would like to see launched through Buidl Launchpad.
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