Welcome to the Protocol, Coindesk’s weekly wrapping of the most important stories in cryptocurrency tech development. I am Margaux Nijkerk, Coindesk’s Ethereum reporter who fills Ben Schiller.
In this number:
- History Protocol is launched to let people register IP and get paid for it
- Ethereum developers release new initiative to simplify transverse chain transactions
- Ethereum L1 Monad goes along with the orderly network to Defi Boost
- How a sitting president became Crypto’s most sought -after investor
Network news
History Protocol goes live: Story Protocol launched its intellectual real estate-focused blockchain and associated IP token last week. Blockchain is located as “the world’s intellectual real estate network” that gives users a way to register their IP and track how others use it. The appropriately named “$ IP” token, which the story announced earlier this month, is used for transaction fees and gives users a vote in the platform’s management system. So far, IP -focused Blockchain seems to have had legs – at least with investors. Pip Labs, the chain’s primary developer, raised $ 80 million in a series B Venture Foundure Round led by Andreessen Horowitz (A16Z), which brought the project’s total funding to $ 140 million. Pip has tried to place history at the intersection of blockchain and artificial intelligence, a way for people to track and get paid for data used to train AI models. The story The Mainnet launch accompanies the first unlocking event to the just announced IP token. “The story is to unlock 25% of the initial $ 1 billion IP, with 58.4% set aside to the ecosystem and society, foundation and initial incentives,” according to the project. – Sam Kessler Read more.
Ethereum developers release new open intentions frame: A group of top Ethereum developers and leaders on Wednesday released a new frame that would simplify and standardize transverse token transfers.
The initiative, called Open Intts Framework (OIF), was kick-started by contributors from the Ethereum Foundation and is supported by 25 projects, including teams that build LAG-2s such as Arbitum, Optimism, ZKSYNC and Roll, according to a press release shared with Coindesk . The goal of the initiative is to bring “intentions” to all corners of the Ethereum -Ecosystem, which is a technological feature that lets a blockchain user achieve a specific goal by asking an intermediary to meet this goal (such as a trade or transaction, They want to make.) There are some standards out there that are already trying to make transverse chain transactions easier by using intentions. ERC-7683, which was introduced by the team behind the decentralized Exchange Uniswap and across the protocol, is one of these standards circulating the Ethereum space recently, and must address fragmentation and allow multiple chains in the Ethereum ecosystem to interoper . But the OIF team claims that they will build on this standard through their framework that allows the purpose of functioning on a scale. “By offering shared infrastructure and execution coordination, OIF makes intent-based transactions comtanceless, efficient and accessible to all projects,” the press release states. – Margaux Nijkerk Read more.
Monad and arranged are going together: Monad, an Ethereum Virtual Machine (EVM) Layer-1 blockchain, which is launching its test net yarn widely in anticipation of another decentralized financing (defi) summer. The arrival of Monad Testnet on Wednesday will give dealers a quick EVM compatible construction site and the possibility of AirDrops on L1. Orderly’s band of 20 market manufacturers includes Wintermute, Selini and Riverside, according to a press release. Companies in the decentralized trading industry that include major exchanges such as Coinbase (COIN) hope for the wave of defi activity in the coming months, as the cryptic administration of President Donald Trump gives Krypto a regulatory fraud. The first defic summer, by 2020, came warmly on the heels of the Federal Reserve-Rentes cut in response to the Covid outbreak. Ordernet already offers users a shared order book across multiple blockchains, including arbitration, optimism, polygon, base, mantle and near. – Ian Allison Read more.
Trump – Crypto’s most influential investor?: Crypto is not that different from politics. According to Rushi Manche, the founder of the Blockchain Company Movement, “Crypto is an attention game.” It is appropriate that Donald Trump – the master of all attention – is then at home and sells Memecoins. But it is not only Trump’s inner circle that has been able to take advantage of his crypto -ventures, which includes the $ Trump coin and world freedom Financial. When a vocal crypto skeptic, the president has become the industry’s biggest “most important opinion leader” or COPD, in Blockchain Industry Parlance: A trader whose portfolio is closely monitored by other investors who decide what to buy and sell. Trump’s steps to Crypto have created a new go-to-market-playbook for ambitious token foggers like Manche-blockchain founders who are aware that pumping the price of a token can be as simple as elbow to a sitting president Crypto portfolio. The President’s primary vehicle for blockchain dealer is the World Liberty Financial (WLFI), a decentralized funding (Defi) Venture he announced with his sons during the summer. After taking on more than $ 400 million by selling a token, the company that has not yet has a product has built a portfolio containing millions of dollars in assets in other crypto projects. On Wednesday, it announced that it launched an official “strategic reserve” of crypto investments. The trades have already raised serious concerns about conflicts of interest, insider trading and the very nature of how influence is geared in the digital asset space. Trump’s political opponents call for the investigation of his growing blockchain empire. But Crypto founders like Manche see World Liberty’s Crypto Investments as something else: a one-time-in-a-generation marketing opportunity. “You need to have a product schedule that makes sense,” Manche said. “But you also need a strategy for your token.” And what better way to increase the price of your cryptocurrency than by publicly tying it to the leader of the free world? – Sam Kessler Read more.
In other news
- Weight Tokens Co -creators claimed he paid the Sister of Argentine President Milei: It was unclear whether any money was exchanged between Davis and Milei’s inner circle before Libra’s launch. Danny Nelson reports.
- Will the Argentine President Mileis Crypto ‘Failure’ be a death for Memecoin -Dille?: The latest madness that started with US President Donald Trump’s Trump Memecoin launch and then dealers earn and lose millions within minutes, might have finally come down with the weight token -fiasko.
- Legislative and Politics: Etoro ensures Mica license from Cyprus to offer crypto services across the EEA.
