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Coreum introduces recipients for Wave 3 of its app development grant

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The Coreum Development Foundation, or Coreum, the open-source enterprise-grade layer 1 blockchain, closes Wave 3 of its grant development program by selecting eight new grantees. Each grant recipient is poised to enhance the blockchain’s scalability and Smart Token functionality, contributing to its expansion and utility for token holders and ecosystem partners.

With institutional involvement in the blockchain ecosystem reaching new heights, the urgency for interoperability and enterprise-grade infrastructure is more critical than ever. This is especially true as traditional firms are searching for ways to scale their blockchain operations to match their ambitions and client demands within the decentralized financial realm. As such, established companies, including blockchain-native ones, have an opportunity to nurture emerging talent and projects that will help advance infrastructure and new use cases.

As the third edition of its development fund, Coreum’s grant program enables the best and brightest projects to build new applications or integrate existing ones into its blockchain network. By building on Coreum’s institution-friendly network, each grantee has the opportunity to solve challenges within the broader Web3 space.

With a total monetary reward of $300,000, the grant represents a diverse array of solutions that include development tools, decentralized storage, and SocialFi projects. In addition to the monetary prize, each grantee receives mentorship from the Coreum team. The eight projects receiving the Wave 3 grant are:

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TriwebAPI: A SaaS product that simplifies Web3 infrastructure development through automation, including smart contracts and integration scripts, with a subscription-based complete hosting solution. The service makes the development process more efficient by facilitating faster Web3 product creation.
Tokenproof: An expansive toolkit that enables brands to foster long-term relationships with their consumers that are meaningful and rewarding. The service is empowering brands to connect with their audiences through the power of token-based experiences, both online and IRL.
Cypher Wallet: Creating one wallet for everything in Web3, Cypher Wallet solves the complexity of Web3 money movement by creating a unified financial ecosystem. Users can easily purchase and manage crypto across multiple chains and easily connect to any application on multiple networks without needing separate wallets.
LZero: A blockchain simulation and testing platform that supports Provable Assessment Certificates (PACs). PACs certify specific test scenario outcomes such as scalability and smart contract functionality to improve application reliability and efficiency.
Lighthouse: A provider of a perpetual protocol for long-term file storage that focuses on accessibility, security, and data verifiability. Lighthouse offers an affordable and secure option for storage needs that facilitates data transitions from Web 2.0 to Web3 and eases the integration process.
Anchain.AI: Anchain.AI hones in on securing the Web3 ecosystem with an AI-powered risk engine and premier cybersecurity expertise. The platform plays a crucial role in protecting digital assets from potential threats and ensuring a safer user environment. Designed with enterprise use in mind, Anchain has previously been integrated to Stellar at a protocol level and reinforces Coreum’s institution-focused blockchain
Cookbook: An open-source marketplace offering developers access to various solidity primitives, libraries, and smart contracts for protocols across numerous blockchains, including Coreum—created to expedite development workflows. Cookbook will also be powering Coreum’s documentation AI agent.
CoredIn: The developer of a professional SocialFi network on Coreum that leverages verifiable credentials and a custom WASM contract to establish an on-chain DID registry. CoredIn enables users to manage data sharing while adhering to the latest self-sovereign identity standards, advancing professional networking technologies.
The focus of each project selected for Wave 3 of the development grant is Coreum’s Smart Token product—a distinct solution introduced by Coreum that augments how tokens behave on the blockchain. Smart Tokens function similarly to smart contracts, enabling pre-defined token behaviors to perform specific and autonomous on-chain activities. This technology equips a wide array of organizations, from financial institutions to startups, with the capability to deploy decentralized applications (dApps) that boast enhanced adaptability and customization.

Coruem’s grant program bolsters its ongoing initiatives to nurture and support new innovations, tech development, and cross-sector collaboration. These include its Blockchain Accelerator program in partnership with CoreNest, and a recently launched University and Student Ambassador program.

“The grant program has become a cornerstone of our efforts to cultivate innovative solutions for long-standing issues in the blockchain space, and these eight projects exemplify the progress made across the ecosystem to overcome these challenges in new and exciting ways,” says Helwan Mande, Network Expansion Lead of Coreum. “Our goal at Coreum is to help ensure the future of the blockchain industry, not only through our own development but by nurturing up-and-coming projects to help reach new heights. We’re very proud to support the projects selected in Wave 3 and look forward to seeing what they create and achieve on our network.”

The post Coreum introduces recipients for Wave 3 of its app development grant appeared first on HIPTHER Alerts.

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New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund

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Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.

The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.

Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.

Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.

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The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.

Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.

Source: arcticstartup.com

The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.

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Riot Platforms Acquires 14% Stake in Bitfarms Ltd.

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Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.

Acquisition Details

On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.

Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.

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Strategic Intentions

Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.

Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.

Forward-Looking Statements

The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.

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Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.

Source: blockchain.news

The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.

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Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation

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The Manta Foundation has launched its $50 million EcoFund to build a robust ecosystem for leading blockchain projects, as per Manta Network. This initiative demonstrates the foundation’s commitment to funding opportunities and developer support for innovative blockchain ventures.

Funding and Support Opportunities
Starting June 15th, the one-year EcoFund will offer significant financial support through its Ecosystem Grant Program, which provides early-stage projects with grants of up to $50,000. This initial funding is crucial for bringing innovative ideas to life.

Additionally, the EcoFund dedicates $35 million for direct investments in promising projects on the Manta Network. These strategic investments aim to foster high-growth ventures that align with Manta Network’s long-term objectives, promoting a collaborative and mutually beneficial environment.

Diverse Project Focus
The Manta Foundation supports a broad range of projects across sectors such as DeFi, Gaming, NFTs, and more. These initiatives are chosen for their potential to drive consumer adoption and significantly enhance the Manta Network ecosystem.

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Applications for the EcoFund are accepted on a rolling basis, ensuring ongoing funding and support opportunities. The foundation prioritizes projects with robust business models and scalability, aiming to ensure the ecosystem’s financial health and sustainability.

Specialized Funding Categories

In addition to general grants, the EcoFund targets specific high-growth areas:

– AI/DePIN: Focused on using AI and Decentralized Physical Infrastructure Networks for sustainable solutions.
– Zero-Knowledge: Investments in zero-knowledge technology to boost privacy and security in the blockchain space.
– Memecoins: The Moon Mission Grant supports the development and growth of meme projects on Manta Pacific, fostering a vibrant memecoin culture.

Events and Hackathons
To further enrich the ecosystem, the Manta Foundation has allocated $5 million for online and offline events and hackathons. These events aim to attract new developers and users, fostering a culture of innovation and collaboration within the Manta Network community.

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Source: blockchain.news

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