According to CoinDesk, Velodrome, a decentralized exchange based on Automated Market Maker (AMM), has announced its second major deployment on the BOB (Build on Bitcoin) network. The BOB network is a Bitcoin layer-2 network compatible with Ethereum Virtual Machine (EVM). The BOB team describes the Superchain as a network of interoperable layer-2 chains that share bridging, governance, upgrades, and a communication layer, all powered by the OP Stack. Velodrome will serve as the primary MetaDEX of the Superchain, acting as the liquidity and volume hub. This integration will unlock BTC DeFi and foster innovation for all Bitcoin use cases through EVM contract deployments.
In other news, the team behind Vana, a decentralized network for user-owned datasets and models, has announced the launch of Reddit Data DAO on their network. This community-owned data treasury allows users to join with their Reddit account and receive governance rights based on the amount of data they contribute. Users can vote to sell their data to AI companies or vote to delete it if Reddit agrees to pay them directly. This DAO showcases the power of user-owned data, the potential for user-owned foundation models, and the applications Vana is enabling.
Lastly, Drife, a Web3 decentralized ride-hailing platform that uses blockchain technology to create a peer-to-peer network for drivers and riders, is migrating to the Sui blockchain. This marks the first decentralized mobility infrastructure platform to integrate on Sui. The Drife platform offers a zero-commission fee structure, allowing drivers to earn more income and pass on the benefits to riders in the form of savings. Sui is the optimal blockchain platform for Drife as it offers low network fees, reduced transaction costs, and enhanced overall affordability for users. The project was originally built on the Polygon platform.