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Protocol Village: Web3 Foundation Funds Ideal Labs, 'Encryption to the Future'


Feb. 9: Web3 Foundation, supporting Polkadot as its flagship protocol, announced funding support for Ideal Labs in the creation of the Encryption to the Future (ETF) network, according to the team: "The funding is part of the Foundation’s Decentralized Futures Funding Program, backed by $20M USD and 5M DOT. The ETF Network is a cutting-edge substrate-based blockchain leveraging a unique consensus mechanism focused on publicly variable on-chain randomness and timelock encryption. The initiative is a crucial step towards addressing the challenges of secure delayed transactions." {{DOT}}

Zeitgeist to Integrate USDC Via Cross-Consensus Messaging (XCM)

Feb. 9: Zeitgeist, a leading platform in the decentralized prediction markets, is announcing its integration of USDC, according to the team: "USDC will be integrated via Cross-Consensus Messaging (XCM). The development allows for the effortless transfer of USDC from two projects within the Polkadot ecosystem, HydraDX & Moonbeam, into Zeitgeist. This is more than just an event; it's a testament to Zeitgeist's ongoing commitment to the Polkadot ecosystem. By leveraging Polkadot's advanced technological framework and collaborative ethos, Zeitgeist continues to offer innovative solutions in the prediction market arena."

Protocol Village is a regular feature of The Protocol, our weekly newsletter exploring the tech behind crypto, one block at a time. Sign up here to get it in your inbox every Wednesday. Project teams can submit updates here. For previous versions of Protocol Village, please go here. Also please check out our weekly The Protocol podcast.

FuzzLand, Web3 Security Firm, Raises $3M Led by 1kx

Feb. 8: FuzzLand, a Web3 security and analytics company, has closed a $3M seed funding round led by 1kx with participation from HashKey Capital, SNZ and Panga Capital, according to the team: "The funding will help accelerate research and development into automated solutions for smart contract analysis using dynamic analysis and distributed computing software. Founded by Chaofan Shou, Jeff Liu and Koushik Sen, FuzzLand aims to deliver cutting-edge vulnerability detection and analytics capabilities that go beyond traditional solutions."

Order-Routing Protocol Flood Raises $5.2M Led by Bain Capital Crypto, Archetype

Feb. 8: Flood, a protocol for order routing, management, and settlement, announced its $5.2M seed funding round, co-led by Bain Capital Crypto and Archetype, with participation from Robot Ventures. According to the team: "Flood provides decentralized application (dApp) developers with a suite of tools for owning and managing the entire lifecycle of their application’s order flow. As the only decentralized exchange (DEX) currently available on the market with operational hooks, the user experience allows traders to quickly settle their transactions while seamlessly staying within the Flood ecosystem."

Casper Releases 'Peregrine' Patch for 16-Second Block Times, Cost Reductions

Feb. 8: Casper Association, supporting the proof-of-stake, smart-contracts blockchain Casper Network featuring a WASM code environment, sent the following message: "The Casper Network Peregrine (v1.5.6) update is a patch release that includes enhancements and exciting new features to network operations. Significant changes are: the reduction of block times to 16 seconds, the 99% refund of unspent funds, and the lowering of control flow opcode costs, resulting in a reduction in mint and transfer costs for contracts. Casper's architecture is uniquely designed for continual evolution, meeting the evolving demands of its users, partners, and the projects it supports."

APAC-Focused 'TON Bootcamp' Accepts First 12 Projects for Up to $500K Each

Feb. 8: Created in collaboration with Hashkey, TON Bootcamp has now accepted its first twelve projects, according to the team: "The APAC-focused accelerator has earmarked up to $500,000 for each of these teams, with the selected projects uniquely leveraging blockchain technology within Telegram’s Web3 ecosystem. These projects will further embed TON's Web3 functionalities within Telegram's existing platform and engage Telegram’s over 800 million monthly active users. The program reflects TON Foundation’s commitment to the APAC region and community as it looks to leverage Hong Kong’s industry-leading regulatory environment."

Dtravel Receives Backing From Borderless Capital for DePIN Peer-to-Peer Vacation Rentals

Feb. 8: Dtravel says it has received "backing and stamp of approval from Borderless Capital with a strategic investment to support its DePIN peer-to-peer vacation rental (VR) ecosystem. The partnership not only brings financial backing, but opens up a wealth of expertise and networking opportunities, including access to Borderless' DePIN portfolio companies, that will support Dtravel in becoming a leading provider for the VR industry. The funding will pave the way for the next phase of growth with hundreds of thousands of operators, travelers and TRVL token holders engaging with the Dtravel ecosystem."

Cornucopias, a Multiplayer Online Role-Playing Game Originally on Cardano and BSC, Expands to Base

Feb. 8: Cornucopias, a massive multiplayer online role-playing game (MMORPG) originally on Cardano and BSC, is moving ahead with a node sale and partnership with the Ethereum layer-2 network Base, according to the team: "Currently in pre-alpha, the platform has already secured over 50K users following successful launches on both Cardano and the BNB Smart Chain. Developed with Unreal Engine 5, this expansion now allows gamers within the Eth ecosystem to experience Cornucopias superior graphics and immersive gaming experiences. Node sale participants will not only receive Cornucopias’ native token, COPI, but are also now able to engage and transact with the platform’s digital assets."

Transak, On-Ramp Solution, Moves Into Hong Kong After Fundraise

Feb. 8: Transak, a crypto on-ramp solution, "is expanding into the APAC region with a new entity in Hong Kong, aiming to leverage the city's status as a financial hub and its regulatory framework for cryptocurrencies," according to the team. "This move follows a Series A funding round led by CE Innovation Capital. Transak plans to integrate local payment methods and adhere to Hong Kong's regulatory standards to simplify Web3 accessibility. The company's global operations highlight its commitment to regulatory compliance. Additionally, Transak has joined Web3 Harbour to foster collaboration in the APAC's Web3 ecosystem."