According to Foresight News, LD Capital, Antalpha Ventures, and Highblock announced the launch of a HK$1 billion (approximately US$128 million) Hong Kong ETF Liquidity Fund, which aims to provide market-making services for Hong Kong ETFs, enhance liquidity, improve capital flow efficiency, and reduce the risks brought by liquidity fluctuations and trading fluctuations.

According to Foresight News, the Monero P2P trading platform LocalMonero announced that it will end operations. From now on, all new registrations and advertising will be disabled. New transactions will be disabled starting on May 14, 2024, and the website will be closed on November 7, 2024. LocalMonero said, "After nearly 7 years of operation, due to the combined influence of internal and external factors, we have made the difficult decision to close the platform."

According to Foresight News, the distributed AI network PublicAI has reached a cooperation with the modular trusted data layer OpenLayer to build Web3 + AI infrastructure and bring more efficient and secure data processing methods to the Web3 + AI field. OpenLayer investors include Geometry, a16z crypto, LongHash Ventures, etc.

According to Foresight News, the blockchain network Telos announced that it has received a strategic investment of $1 million from Presto Labs, which will be used to develop a new Ethereum L2 zkEVM network driven by SNARKtor and promote the development of SNARKtor Labs. SNARKtor Labs is Telos's business unit based in Hong Kong, focusing on accelerating Telos' ZK proof technology infrastructure. Telos is developing L2 with ZK research company Ponos Technology.

According to Foresight News, institutional cryptocurrency exchange EDX Markets has announced the launch of its settlement platform EDXM Global. GSR and Virtu Financial are the first companies to use the new platform for trade settlement.

According to Foresight News, the second-layer modular ZKVM project Ola will take its first token distribution snapshot at 20:00 on May 11 to reward early users who participated in the mobile ZKP verification network Massive. Ola said that since its launch in April, the number of node registrations has exceeded 200,000. After the first token distribution snapshot, the points of Massive participants will be reset and the second phase will be started to provide users with a relatively fair way to participate. After this snapshot, each terminal still needs to remain active in the Massive network to ensure the final eligibility for tokens.

According to Foresight News, the team behind the zero-knowledge privacy protocol Elusiv has launched the Arcium incentivized private testnet for the parallel confidential computing network. Arcium will first support Solana, which will enable developers and applications such as DeFi, DePIN, and AI to flexibly access trustless, verifiable, and high-performance confidential computing capabilities. The Arcium network consists of two main parts: the Arx network and the multi-party execution environment (MXE).

Among them, MXE combines MPC, homomorphic encryption, zero-knowledge proof, etc. to achieve secure computing of encrypted data. The Arx network is a decentralized node network (each node is called Arx), and anyone can contribute to the network by running a node.

According to Foresight News, Redstone Chain, an L2 network developed by Lattice and focusing on the full-chain gaming ecosystem, announced that it will abandon the Lattice test network and the Redstone Holesky test network, and recommends users to migrate to Redstone's Garnet Holesky test network within the next month. In early May, Redstone was launched on the main network.

According to Foresight News, Spot On Chain has monitored that in the past 13 hours, two wallet addresses (which had obtained tokens from the Fetch.ai Foundation) deposited 1.47 million FETs (about $3.59 million) into Binance. In the past month, these two wallets have deposited 4.9 million FETs (about $11 million) into Binance.

According to Foresight News, Ark Invest Daily data showed that Cathie Wood's ARK Invest sold a total of 70,616 shares of COIN (Coinbase Global Inc) on May 7, with a closing price of US$214.34, worth approximately US$15.1358 million.

According to Foresight News, Jumper, a multi-chain exchange protocol driven by LI.FI, announced that it will soon launch the Bridge-to-Earn model.

According to Foresight News, the encrypted data platform Dune announced that its V2 AI tool has entered the testing phase. Beta testers will receive rewards.

According to Foresight News, the Web3 authentication and private key management tool Privy announced that it has added support for Instagram as a Privy login option.

According to Foresight News, Vitalik Buterin proposed an alternative to EIP-3074, which adds a new transaction type, EIP-2930 tx, and also adds two new fields: the string "contract_code" and the signature, and converts the signature account (not necessarily the same as tx.origin) to a smart contract wallet. This seems to be compatible with any 3074 workflow, and converting the 3074 workflow requires very little work. EIP-3074 has an additional advantage that it is very forward-compatible with the final account abstraction without overly retaining any fine-grained details of ERC-4337 or RIP-7560.

According to Foresight News, DePIN Layer1 blockchain Peaq announced that it will sell native PEAQ tokens on CoinList from May 9 to May 16. In March this year, Peaq completed a $15 million financing, led by Generative Ventures and Borderless Capital.

According to Foresight News, according to CryptoSlate, quantitative trading company Susquehanna International Group submitted documents disclosing a $1.3 billion investment in spot Bitcoin ETFs, of which 17.3 million shares of Grayscale's GBTC were held through three separate investments, with a total investment of $1.1 billion. Susquehanna also purchased 1.3 million shares of Fidelity FBTC worth $83.7 million, 583,049 shares of BlackRock IBIT worth $23.6 million, 560,832 shares of Bitwise BITB worth $21.7 million, and 508,824 shares of Ark 21Shares ARKB worth $36.1 million, as well as 256,354 shares of VanEck HODL worth $20.6 million, 255,814 shares of WisdomTree BTCW worth $19.3 million, 166,200 shares of Invesco BTCO worth $11.8 million, and 192,391 shares of Valkyrie BRRR worth $3.9 million. These combined investments represent only a small portion of the $575.9 billion in total investments reported by the company in its latest 13F.

“Our ultimate goal is to unify fragmented liquidity across multiple ecosystems.”

Written by Kevin Liu, ZKM Co-Founder and CEO

Compiled by Coolman, Foresight News

Andrew Chen (a16z) defines network effect in his book The Cold Start Problem as the phenomenon where the value of a product is positively correlated with the number of users. As the founder of an infrastructure project, we are working on building a universal zkVM to connect liquidity between blockchains, and I continue to think about how to achieve network effects for underlying infrastructure projects.

2B or 2C?

According to Foresight News, @ai_9684xtpa monitored that Maker multi-signature wallet once again recharged 700 MKR to Binance through address 0x1cC...A5825, worth $1.99 million. From April 24 to date, Maker multi-signature wallet has transferred a total of 3,650 MKR to the exchange, with a total value of $10.43 million, and the average recharge price is $2,858 (current price $2,792).

According to Foresight News, the Solana ecosystem NFT exchange Tensor announced the launch of additional token claims for protocol power users. In mid-April, Tensor stated that the initial airdrop rules did not give appropriate rewards to power users, and the additional 2.3% supply will be allocated to 2,900 power users, and these tokens will be vested within 2 years (6 months of full lockup).

According to Foresight News, HashKey Cloud and Aptos Foundation have reached a partnership to jointly promote the development of infrastructure and applications on Aptos. The cooperation began with the native integration of HashKey DID, which will be integrated with the Aptos blockchain. The primary goal of HashKey DID is to work with users to establish a community-governed HashKey DID DAO. HashKey Cloud is also exploring liquid node validation and STO solutions.