Web3 orchestration platform Othentic has raised $4M in a seed round co-led by Finality and Breyer Capital, with participation from Coinbase Ventures, Collider VC, HashKey Capital, Bankless Ventures, Robot Ventures, Everstake, PunkDAO and several angel investors. The funds will be used to accelerate the development of Othentic's abstraction layer for shared security primitive. The platform enables AVS developers to self-deploy custom computational services over trustless execution environments, reducing engineering overheads. Othentic is also introducing "Stateless Rollups", offering AVS access to decentralized compute scalability. These rollups are compatible with both EVM and non-EVM blockchains and provide services to other networks and applications.

Shiba Inu, the popular meme coin, has successfully raised $12 million in a pre-seed and seed round through a token sale. The funding round saw participation from notable Web3 companies and investors outside the US, including Polygon Ventures, Mechanism Capital, and Animoca Brands. The funds will be utilized to develop Shiba Inu's privacy-focused layer-3 blockchain, Shibarium, which will use TREAT as its utility and governance token. This follows Shiba Inu's recent integration of fully homomorphic encryption (FHE) technology into its ecosystem, offering unparalleled privacy for its holders. The new blockchain aims to address privacy and trust issues in the crypto space, while ensuring compliance with international regulatory requirements.

Telegram has announced the introduction of creator tips, on-chain stickers, and in-app crypto purchases of digital goods and services, expanding earning opportunities for content creators. Creators will receive 70% of tips and in-app sales of digital goods and services. Additionally, artists who create stickers will earn 95% of the revenue generated from their sales.

In a partnership with TON Foundation, Telegram's crypto wallet will also support USDT. The integration of USDT into the Telegram crypto wallet and the TON Foundation aims to attract more non-crypto native users to the world of Web3, creating a less volatile avenue for new crypto users to join the TON Network.

With a user base of more than 900 million, Telegram's integration of Web3 technologies presents a significant opportunity to onboard hundreds of millions to the layer-1 blockchain. The company continues to prioritize privacy and emerging technologies that empower digital creators.

Hedgey Finance, an on-chain token infrastructure protocol on Arbitrum, has been exploited for nearly $45 million, according to Cyvers Alerts, a real-time crypto security alerts platform. The platform detected multiple transactions by a suspicious address on Arbitrum worth $42.8 million of ARB tokens. The attacker has reportedly deposited some of the crypto on the Bybit crypto exchange platform.

This is not the first time Hedgey has been targeted. The platform had previously been hacked for $1.9 million in crypto on the Ethereum network, with the address funded by token exchange platform, ChangeNow.

In response to the latest attack, Hedgey has urged users to revoke all transaction approvals and has launched a refund campaign for those affected. The company is currently working with auditors to understand the nature of the attack and prevent any ongoing threats. Hedgey has also warned users against clicking any links posted under the thread on X, due to potential scam accounts impersonating the company.

Linea, an Ethereum layer 2 solution developed by Consensys, has seen a significant surge in total value locked (TVL) on its platform. The TVL on Linea apps has nearly doubled in April to $234 million, marking a 400% increase since the start of the year. This growth is largely attributed to ZeroLend, a lending protocol that holds the majority of Linea's assets in decentralized finance (DeFi). ZeroLend's TVL on Linea has soared over 8,000% in the past month, contributing significantly to Linea's rapid expansion.

Linea's growth is also fueled by the support of Renzo, the second-largest liquid restaking protocol after Ether.fi. Renzo has a TVL of over $3 billion across seven chains, including $150 million on Linea. Renzo's ezETH token accounts for more than half of all assets on ZeroLend. Other popular DeFi apps on Linea include Mendi Finance and Lynex, Linea's native decentralized exchange (DEX).

Linea's daily active addresses and transaction figures have also reached record levels at the beginning of April, with over 600,000 active addresses conducting over 4.6 million transactions. This growth suggests a rapid expansion of layer 2 solutions in the blockchain space.

Near Protocol has seen a significant increase in active addresses, reaching a record high of over 2 million on April 6, 2024. This represents a 100% increase since the start of the year. The surge in active addresses aligns with a rise in daily transactions and a revival of total value locked (TVL) in Near-based DeFi protocols.

On April 4, daily transactions on Near surpassed 10 million for the first time, before adjusting to the current level of 8 million. Meanwhile, Near's TVL figure has jumped from less than $100 million at the start of the year to over $308 million on April 8, the highest level since August 2022.

The rapid increase in Near activity is largely attributed to stablecoin transactions. Burrow Finance, the most popular DeFi app on Near, has seen its TVL increase from less than $65 million at the start of 2024 to about $200 million. The lending protocol enables users to deposit popular stablecoins like USDC and USDT, and earn high APYs, attracting many investors from Ethereum and other chains. The launch of the FRAX stablecoin on Near in mid-March has also contributed to the increased activity.

Magic Eden has emerged as the largest NFT platform by marketplace users, according to data from NFT analytics platform NFTpulse. The Solana OG marketplace recorded a transaction volume of over 230k in the past 30 days, surpassing OpenSea's 170.9k and Tensor's 113.4k. In the past year, Magic Eden has seen nearly 800k NFT traders use its platform, closing in on OpenSea's nearly 1 million users.

The platform's rapid growth is attributed to its focus on bitcoin Ordinals, with 61% of its users trading Ordinals. Amid the upcoming Bitcoin halving event, Ordinals have seen a surge in transaction volume. Data from a Dune Analytics dashboard by obchakevich shows that the Ordinals market BTC volume for Magic Eden has already surpassed $690 million in 2024.

In terms of blockchain usage, Bitcoin remains the top chain with nearly 178k users in the past month, followed by Solana with 159k. Ethereum has slipped to third place with 108k users, while Polygon is fifth with 46k users, below Coinbase’s Base with 81k.

EduTech simulation platform Banksters is rewarding its most active players with NFTs worth a total of $100,000 in a two-week campaign. The top 1,000 players will be eligible for the airdrop, with the NFTs being vested for 60 days following the game's official launch. In addition to the airdrop, Banksters is also selling 2,000 Minting Scroll NFTs on Magic Eden to enhance player engagement and gaming experience. The platform's CEO, Alexandru Carbunariu, emphasized the educational aspect of the game, stating that it offers unique opportunities for players to acquire new skills in the world of cryptocurrency. This announcement precedes Banksters' planned $BARS token sale on April 24, which will take place on BullPerks, Games Pad, and other leading launchpads.

Digital asset social trading platform Zignaly has launched ZIGChain, a layer-1 blockchain built on the Cosmos network. The company also announced a $100 million ecosystem development fund, led by digital asset market maker and Web3 investment firm DWF Labs. The fund aims to develop an accessible wealth-generation infrastructure.

Zignaly recently secured a crypto license in South Africa, expanding its digital asset investment ecosystem. The platform enables traders to copy trades from professionals, simplifying crypto investing.

DWF Labs Managing Partner Andrei Grachev commented on the launch, stating that ZIGChain will allow developers to focus on building, with wealth managers acting as a bridge between the protocol and its user base.

Zignaly aims to democratize access to decentralized finance, enabling users with varying levels of digital asset knowledge to engage in the sector. UDHC partner Torben Jorgenson added that the wealth-management layer in ZIGChain will provide an effortless user experience by building a wealth management service on top of any DeFi protocol.

Ethereum layer 2, Blast, has seen a surge in its total value locked (TVL), reaching $1.7 billion on April 11, before settling at $1.4 billion. The layer 2 solution, developed by the team behind NFT marketplace Blur, uses optimistic rollups and offers native yield, attracting investors' attention.

One month post-mainnet launch, Blast has secured a 1.65% market share in decentralized finance (DeFi), surpassing chains like Avalanche and Polygon. Popular DeFi apps on Blast include Juice Finance and Thruster, each with a TVL exceeding $320 million.

However, Blast's reputation took a hit when RiskOnBlast, a project on its platform, performed a rug pull, exiting with about 500 ETH. Despite this setback, Blast continues to gain market share and plans to launch its own token next month.

PayPal has revised its buyer and seller protection policies for non-fungible tokens (NFTs). The global payments giant will now exclude NFTs from its Purchase Protection Program due to "uncertainty around proof of order fulfilment and other variables." NFT transactions exceeding $10,000 will also be excluded from protection against false claims and chargebacks. However, transactions equal to or below $10,000 will be protected if the buyer claims it was an unauthorized transaction and meets all other eligibility requirements. These amendments will take effect from May 20, 2024. This policy update follows PayPal's announcement in March to stop protecting some NFT transactions.

Binance US is ramping up its compliance efforts following a $4.3 billion penalty from the SEC last year. The crypto exchange recently announced the appointment of Martin C. Grant, former Chief Compliance & Ethics Officer at the New York Fed, to its board of directors. Grant's role will include overseeing financial reporting processes and internal controls. This follows the appointment of Lesley O’Neill, former Chief Compliance Officer at Prove Identity, as Binance US's Chief Compliance Officer in January. Both O’Neill and Grant bring extensive experience in regulatory compliance, anti-money laundering, and risk assessment. The appointments reflect Binance US's proactive approach to regulatory compliance in the crypto industry.

Homium, a real-estate equity mortgage lending and securitisation platform, has launched on Avalanche, marking its entry into the rapidly emerging industry of tokenising real-world assets. The launch was accompanied by a $10 million Series A funding round co-led by Sorenson Impact Group and Avalanche’s Blizzard Fund. Homium's platform allows homeowners to secure loans by committing a portion of their home's price appreciation, which is then tokenised.

Investors receive a tokenised asset that tracks the price appreciation of a pool of securitised price appreciations for home loans. The platform is currently live in Colorado, with plans for expansion. Homium CEO, Tommy Mercein, stated that the company is creating a valuable new asset class for institutional investors, offering a new source of uncorrelated, inflation-protected return.

This development is significant in the context of the growing interest in tokenising real-world assets, a market predicted to reach $10 trillion by 2030. Homium's approach of tokenising home equity loans could potentially revolutionise the real estate and blockchain sectors.

Ethereum-based liquid restaking protocol Puffer Finance has secured $18 million in a Series A round co-led by Brevan Howard and Electric Capital. The fundraising was executed via a simple agreement for future tokens (SAFT), valuing the protocol at $200 million. Notable participants included Coinbase Ventures, Kraken Ventures, Franklin Templeton, Fidelity, Mechanism Capital, Lightspeed Faction, Consensys, Animoca, GSR and Lemniscap.

The funds will be used to accelerate Puffer Finance's mainnet launch on Ethereum. The platform, powered by EigenLayer, currently has a total value locked (TVL) of more than $1.1 billion according to DeFiLlama. Puffer Finance aims to expand validator participation within Ethereum's ecosystem, enhancing its decentralisation. The company believes that by reducing the entry requirement to just 1 ETH for validators and enhancing their earnings, it sets a new standard for innovation in the liquid restaking landscape.

BIT Exchange has launched the EigenLayer Points Program, becoming the first centralized exchange platform to offer spot trading for EigenLayer Points (ELP) against selected cryptocurrencies. This move allows early adopters to engage with the EigenLayer ecosystem ahead of the Token Generation Event. For every 1ETH restaked, adopters are rewarded with one ELP every hour. The protocol is currently averaging over 107 million daily points emissions and has allocated over 3.9 billion staking points to date.

The points will be used as eligibility criteria for the upcoming EigenLayer Airdrop, where holders could receive valuable rewards. Decentralized exchange platform Whales Market, which already supports ELP trades, clarified that the tradable points are not a tokenized version of EigenLayer points, but the rights to EigenLayer points when they launch. This comes as EigenLayer is emerging as a leading player in crypto restaking on Ethereum, with the platform recently crossing the $15 billion total value locked (TVL) following its mainnet launch.

BIT has stated that when EigenLayer releases its Airdrop, ELP holders on its platform will receive the new token based on the official conversion rate. The launch of the EigenLayer Points Program is seen as a significant milestone for BIT and the broader crypto community.

Web3 gaming studio Avalon, founded by veterans from Microsoft, Sony, Capcom, Infinity Ward, and Ubisoft, has raised $10 million in a funding round co-led by BITKRAFT Ventures and HASHED. The round also saw participation from Coinbase Ventures, Spartan Capital, Foresight Ventures, LiquidX, and Momentum6. The funds will be used to accelerate the development of Avalon's debut blockchain gaming title, AVALON, a massively multiplayer online (MMO) game that allows players to carry in-game assets between worlds.

The game, founded in 2021, is designed to appeal to both Web2 and Web3 gamers. Avalon empowers players by enabling them to create, share, play, and take ownership of their experiences. The game leverages AI gaming technology from Didimo and Inworld AI to create an ever-evolving gameplay with user-generated worlds.

AVALON is currently being developed for both PC and cloud streaming and is scheduled to release its closed early access before the end of the year. The upcoming NFT collection will introduce AI-powered avatar NFTs, adding another layer of innovation. Avalon's vision for a limitless and cohesive online experience was highlighted as a key reason for the funding round's success.

Gaming-focused blockchain Oasys is set to expand its ecosystem with interoperable gaming support as part of its 2024 Dragon Update. The company has partnered with LayerZero, an omni-chain interoperability protocol, to enhance interoperable gaming across its ecosystem. The integration will initially be implemented on Oasys’ Layer 2 HOME Verse, before expanding to the L1 Hub-Layer and other Verses. LayerZero's Omnichain Non-Fungible Token (ONFT) standard will allow users to mint and transfer NFTs across all supported chains, enabling the Oasys gaming ecosystem to carry gaming assets between networks. The integration of LayerZero’s ONFT technology in Ubisoft’s upcoming game, Champions Tactics: Grimoria Chronicles, marks a significant step in the quest for interoperable blockchain gaming experiences. Oasys and LayerZero believe that interoperable cross-chain blockchain gaming will foster a richer and more inclusive gaming experience for all.

Ethereum layer 2 networks, Arbitrum, OP Mainnet, and Base, have seen a surge in activity with weekly active users hitting a record 3.7 million in mid-April. Base, a Coinbase-backed layer 2 network, has emerged as the biggest winner with a 400% increase in weekly active users since the start of the year. It also accounts for about 50% of newly listed tokens on decentralized exchanges (DEXs).

Base's total value locked (TVL) has crossed the $5 billion mark, including $1.57 billion of bridged value and $3.7 billion in natively minted assets. The rise in activity on Base is attributed to the growing interest in meme coins, which dominate trading on Base DEXs.

Currently, Ethereum layer 2s have a total valuation of approximately $28 billion. However, a recent report from VanEck predicts that the market cap will surge to $1 trillion by 2030, considering factors like transaction costs, developer and user experience, ecosystem size, and trust assumptions. Despite Ethereum's transition to Proof of Stake (PoS), layer 2s like Arbitrum, OP, and Base are expected to remain relevant due to their higher throughput and improved transaction performance.

Japanese mobile and blockchain gaming company Extra Mile has partnered with Tokyo's TV Asahi Group to launch a Web3 accelerator program focused on blockchain games. The program aims to support Web3 game developers through incubation, publishing, community marketing, and token support. TV Asahi also plans to assist game developers in liaising with licensors and anime production committees owning IP for music, video, and other multimedia. The program will also provide post-launch support through mentorship and advisory services. The first project to benefit from this initiative, Neobred, an NFT horse racing and breeding game, is set to launch soon. More details about the blockchain gaming venture will be revealed at the TEAMZ WEB3 / AI SUMMIT 2024 on April 13-14.

Shiba Inu, the developer of the $SHIB meme coin, is partnering with the Content Distribution and Security Association (CDSA) to address security concerns in the AI sector. This move comes on the heels of SHIB's integration of Fully Homomorphic Encryption (FHE) technology to bolster security and user privacy. Shiba Inu believes that blockchain technology could mitigate issues faced by researchers in AI model training. The collaboration with CDSA, a nonprofit providing best practices for entertainment, software, and IT delivery and storage since 1998, will allow SHIB to extend its ecosystem to a new segment of the media and entertainment industry. Shiba Inu lead developer Shytoshi Kusama expressed anticipation for offering a unique, blockchain-first perspective to CDSA's work.