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Welcome to the latest edition of the Weekly Pulse, a weekly Algorand news wrap-up segment presented by Algopulse. As ever, we welcome your feedback so if there is anything you would like us to add, please let us know on Twitter, Discord, or Telegram. For more from Algopulse visit https://www.algopulse.io/.
New 10 mil Dev Tooling SupaGrant Launched by Algorand Foundation
The Algorand Foundation has announced the launch of a new $10mil SupaGrant program calling for tenders from developers. The Grant is particularly calling on projects developing solutions including IDE, static analysis, debugging, account management, automated testing (using the Algorand sandbox), a smart contract library, a block explorer for private blockchain development, tools to help with continuous integration and development. The Foundation will select three applicant projects to receive the funding to assist with developing their solution.
Pact Launch $1 mil Aeneas Liquidity Program
Algorand AMM Pact has confirmed its involvement in the Algorand Foundation Aeneas Liquidity program meaning the project will distribute $1mil additional ALGOs as boosted rewards to a selection of its liquidity pools.
The program’s reward period will run for eight weeks, commencing Friday 8th of April and concluding midnight Thursday 2nd of June (all times in UTC).
Pact is releasing its distribution plans in advance to maintain complete transparency with the Pact community. Allocated linearly, the ALGO rewards will be paid out weekly over the eight weeks.
Read more about how to take part here.
Algorand Foundation Produce Collaborative NFT Series with Envision Racing
Algorand Foundation has produced a series of 8 limited-edition NFTs in collaboration with commercial partners Envision Racing who compete in the Formula E World Championship. The 8 hemlets represent 8 of the race tracks on the Formula E circuit in 2022, with proceeds from the sale going towards planting mangrove trees in Madagascar for the Race Against Climate Change. Envision Racing next take to the track on April 9th and 10th for the Rome Grand Prix for a doubleheader weekend. Users wishing to acquire the Formula E NFT can do so here.
Yield Monitor Receive Algorand Foundation Grant
Multi-chain database and toolkit for DeFi investors and developers Yield Monitor have been announced as the latest recipients of the Algorand Foundation grant. In integrating onto the Algorand network Yield Monitor can now offer functionality on six blockchains including Avalanche (AVAX), BNB Chain (BNB), Ethereum (ETH), Fantom (FTM), and Polygon (MATIC).
''We’re honored to have the support and confidence of The Algorand Foundation, said Yield Monitor Co-Founder Nick Toce.
“Expanding our product beyond EVM mainnets has been a goal for Yield Monitor, and a growing ecosystem like Algorand is a perfect fit for us. Their focus on combining performance, scalability, and environmentally sustainable infrastructure very much aligns with our own vision for what accessible blockchain data should be. We’re looking forward to meeting an entirely new community of builders, and continuing our mission of building a truly scalable, multi-chain database for everyone.”
Folks Finance Launches on Mainnet
Algorand base Capital Markets Protocol Folks Finance this week made their eagerly awaited mainnet launch.
The protocol aims to give its users the highest flexibility on DeFi loans with a full set of Innovative Features, intuitive UX, Community centric vision, and built-in composability.
“After one and half years of hard work, the protocol is finally live,” said Folks Finance CEO Benedetto Biondi.
“This milestone is not only ours but of anyone else, from community to partners, that helped and supported us through this long journey! I am delighted with the team’s efforts; this step is just the beginning of a long journey whose goal is to be the reference for the DeFi Lending Industry.”
Algomint Partner with Nimble
Algomint and Nimble have this week confirmed a new strategic partnership. Nimble is building what they call a Democratized Insurance Risk Protocol which will allow for greater transparency and utility for insurance consumers. Algomint meanwhile are a cross chain bridge that has been on mainnet since Q4 2021 as well as recently launching its $goMINT governance token.
Humble Swap Ask Users to Remove Liquidity
Recently launched Algorand AMM Humble Swap has hit an unfortunate roadblock forcing the project to ask all users to remove their liquidity from the protocol. In a statement on Twitter Humble Swap said, “We are asking that everyone who has LP on Humble Swap to please remove it. No exploit has occurred but we identified a vulnerability in our SC. We will issue a more thorough response, but want to give the community a heads up.”
Algorand Spearhead Miami Tech Innovation Run
Algorand was featured prominently during the recent Miami tech run hosted by E-Merge with Algorand Executive Kelli Callaghan joining Miami Major Francis Suarez. Algorand has major involvement in this week’s celebrations with prominent ecosystem figureheads such as Michael Arrington set to make appearances. With Major Suarez, an outspoken supporter of not only blockchain but specifically Algorand, Miami remains a global hub for its ongoing growth.
Pact Surpass $4 mil TVL
The Algorand AMM Pact has now surpassed $4 mil platform TVL despite only launching on February 22nd 2022. The impressive growth has been spearheaded by its ALGO/goBTC pool which sits at $1.1 mil. With the recent confirmation of involvement in the Aeneas Liquidity program and a new bug bounty program with Immunefi Pact seem as though they will only continue to grow their TVL in the near future.
Price Watch
Thank you for reading this week’s edition of the Weekly Pulse as we look forward to continue bringing this content to the Algorand Community. Was there anything that we missed? If so let us know on Twitter, Discord, or Telegram where you can also send us any news you see throughout next week for our next installment. For more from Algopulse visit https://www.algopulse.io/.
