Protocol Village Update: IOV Labs Allocates Additional $2.5M to Rootstock Grants Program

Blockchain technology

Last Updated on 3 weeks by cryptoevent

Stay informed on the latest blockchain technology upgrades, funding news, and deals from Nov. 9-15, with real-time updates throughout the week.

Nov. 13: IOV Labs is enhancing crypto innovation on the Bitcoin sidechain, Rootstock, by committing an extra $2.5 million to the Rootstock Grants Program. The team, building on the success of projects like Asami and OKU, aims to enrich the dApp ecosystem. The application window for the next phase, supporting solutions from DAOs to peer-to-peer systems, remains open until Nov. 17, welcoming transformative ideas.

Protocol Village is a regular feature of The Protocol, our weekly newsletter delving into the technology behind crypto, one block at a time. [Sign up here](link to sign up) to receive it in your inbox every Wednesday. Project teams can submit updates [here](link to submission page). For previous versions of Protocol Village, please visit [this link](previous versions link).

EigenLayer, Cubist, and Partners Form “Secure Staking Alliance” for Anti-Slashing Standards

Nov. 9: Cubist, a crypto wallet-as-a-service provider, announces the formation of a “Secure Staking Alliance” with EigenLayer, Babylon, BridgeTower, Ankr, Redacted, and several staking-related protocols. In collaboration, they are establishing technical standards and best practices to guide the design, construction, and operation of secure staking infrastructure. The goal is to consider “anti-slashers” from the outset, ensuring the ability to run secure validators, even in the presence of bugs and human errors.

JPMorgan Integrates Programmable Payments into JPM Coin

Nov. 10: JPMorgan enables users of its blockchain-based settlement token, JPM Coin, to program their accounts for automatic payments based on preset conditions. Clients can now set conditions for funds to be transferred to cover overdue payments or margin calls.

Interop Ventures Secures $3.85M for the “Interchain Economy”

Nov. 9: Interop Ventures, an early-stage venture fund focusing on the “Interchain economy,” has raised $3.85 million from investors like KR1, LBank Labs, and Sunny Aggarwal. With a particular emphasis on the Cosmos blockchain ecosystem, the fund aims to play a crucial role in driving innovation within this space.

Polygon Labs Launches $85M Grant Program to Attract Builders to Its Ecosystem

Nov. 9: Ethereum scaling platform Polygon Labs initiates a grant program to entice developers to create applications within its ecosystem. Polygon Labs is offering a total of 110 million of its native token, MATIC, valued at around $85 million, to projects in decentralized finance (DeFi), gaming, social media, and more.

Risc Zero Open-Sources Key Technologies

Nov. 9: RISC Zero, the developer of a general-purpose zero-knowledge (ZK) virtual machine technology, announces the open-sourcing of three key technologies as public goods for zero-knowledge cryptography and blockchain developers. Developers can now modify, enhance, audit, and sublicense these tools under the Apache2 license.

Zircuit Unveils New zkEVM Rollup

Nov. 9: Zircuit, a new EVM-compatible ZK rollup, announces the launch of its public testnet. Using a hybrid approach that combines the latest ZK proofs with optimistic infrastructure, Zircuit aims to reduce fees and increase transaction speeds while maintaining security at the sequencer level.

Moflix Raises $3.1M to Explore Integration of Hedera Tech

Nov. 9: Moflix, a provider of end-to-end digital solutions for a “cloud-native, all-digital telco-in-an-app,” secures a $3.1 million seed funding round. The Hashgraph Association (THA) is among the investors, and THA’s financial commitment and engineering expertise will support Moflix in exploring ways to incorporate Hedera’s technology into its offerings.

Stackr, Facilitator of “Micro-Rollups” Secures $5.5M

Nov. 9: Stackr Labs, the provider of a software development kit for building app-specific “micro-rollups” using Web2 programming languages, such as JavaScript and Python, announces its Seed round, raising a total of $5.5 million. The funds will be used for team expansion, preparing for the upcoming v1 launch, and expanding Stackr’s developer ecosystem.

Standard Chartered and SBI Holdings Establish $100M Investment Firm Targeting Crypto Startups

Nov. 9: Standard Chartered’s venture arm collaborates with Japanese financial services firm SBI Holdings to establish a $100 million-backed investment company targeting crypto startups. SC Ventures and SBI Holdings’ Digital Asset Joint Venture investment company will focus on firms in market infrastructure, risk and compliance, decentralized finance (DeFi), and tokenization in the UAE.