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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/.
The New Home of Liquidity; Pact Launches on Mainnet
Algorand based AMM Pact have this week made their greatly anticipated mainnet launch meaning users can now visit the home of liquidity. Pact is the only AMM currently offering liquidity providers back 100% of liquidity pool fees they accumulate. Pact initially launched on testnet in January 2022 during which time the project was able to refine the platform with the help of user feedback. Users can begin using the new mainnet protocol here.
Algomint Announces Governance Token Public Listing on 30 Mar, 2022
Algomint has revealed that they will be launching their project governance token goMINT on March 30th 2022. After the launch holders of the token will be able to participate in community governance of Algomint with the project currently working other exciting utility additions. In their official press release the project said, “Beyond governance we’re also looking at extra incentives such as reduced fees through staking.”
“The bridge will have a lot of additional functionality in the near future. Once we fully move to DAO governance, fully decentralize the service and have enough distribution, the community will vote on token listings, blockchain integrations, fees and where we’re heading in terms of functionality.”
“On top of that, token holders will also be eligible for rewards through participation, including LP rewards pools.”
“We are also working on tokenomics models on how those rewards are sustainable and to deliver value to token holders long term.”
Algorand Foundation Announces $10 Million Grant Focused on EVM Compatibility as Algorand Adoption Accelerates
The Algorand Foundation have announced a new $10,000,000 USD SupaGrant set aside for projects working on EVM compatibility on Algorand.
“Algorand believes in a multi-chain world and this SupaGrant will move us towards that inevitability,” said Staci Warden, CEO Algorand Foundation.
“Running smart contracts written for Ethereum on Algorand eliminates the barriers for popular DeFi protocols and NFT projects to serve multiple chains while significantly decreasing the costs to those who participate.”
“We believe that incentivizing experienced developer teams to research and build long lasting fundamental technology for Algorand will benefit the entire blockchain community.”
Unlocking Decentralized Identity with Verite
Verite have launched an exciting new proctol that will allow decentralized identity standards to be developed enabling organizations to issue and verify digital identity credentials for users and institutions participating in the crypto economy. In this venture the project has received support from Block, Circle, Coinbase and Centre among other partners. Verite is also an open source project, allowing community members to build upon its existing code.
The Algorand Foundation Partners With NYU to Improve Privacy in Cloud-Based Application
The Algorand Foundation this week announced a new partnership with the prestigious New York University (NYU). The purpose of the partnership is to conduct research on new possibilities for private verifiable databases and their applications to public blockchains.
“I am excited to partner with the Algorand Foundation on this project,” says Professor Yevgeniy Dodis who will led the research team at NYU.
“We live in an age where massive amounts of data need to be stored and manipulated efficiently. This creates unprecedented challenges for privacy, security, integrity and availability.”
“Modern cryptography can offer opportunities to address these challenges. Part of our research will focus on how distributed implementations for private verifiable databases could work for the Algorand Protocol.”
ANote Music Unveils Redesigned Platform to Boost User Engagement on the Music Royalties Marketplace
Algorand based music royalties marketplace ANote has unveiled its upgraded online platform this week which includes a full User Interface overhaul.
“ANote’s performance in the 18 months since launching has well surpassed our financial targets, while also exceeding account registration forecasts,” said CEO, Marzio Schena.
“Looking at the months ahead, we are keen to harness this momentum by delivering a refined service that attracts new and repeat investors based on the quality of our user experience, customer service and product offering.”
“With its intuitive, accessible UI, ANote’s upgraded platform is designed to bolster user engagement for a diverse range of investors, providing the infrastructure and information they need to understand our full suite of catalogues and make informed investment decisions.”
Capi Announced as Latest Algorand Foundation Grant Recipient
Capi have been announced as the latest recipients of the Algorand Foundation Grant. The project is building a protocol that will allow business owners to quickly create a public company using the Algorand blockchain combining crowdfunding with investing.
“We welcome Capi to the Algorand Ecosystem. We look forward to supporting Capi as they launch their decentralized crowdfunding and investing platform on Algorand,” said Addie Wagenknecht, Algorand Foundation, Head of Global Ecosystems and Technical Operations.
“Capi opens up opportunities for business owners and investors to easily create or invest in businesses.”
“Building on Algorand provides confidence as information is fully on-chain, decentralized and transparent — accessible to anyone, anywhere, anytime.”
Algorand Blockchain Now Available on Amazon Web Services Marketplaces, Powered by Guardrails
Amazon owned cloud provider Guardrail has helped incorporate the Algorand blockchain on Amazon Web Services.
Chris Econn, the CEO of Guardrails was quoted as saying, “AWS isn’t complex, it’s powerful. Algorand isn’t complex, it’s powerful.”
“We applied 13 years of experience with AWS to ensure nothing stands in between our customers and realizing that power.”
Pact Closes Seed Round at $2.1m
In the same week they launched the mainnet protocol Pact have confirmed the detailed of their closed $2.1m seed round. Led by Hivemind and Borderless Capital the seed round saw the project valued at $20m.
“We are excited to support Pact and confident in the team’s technical capability and ability to deliver, which was recently evidenced in the stellar audit report published by Runtime Verification auditors” said Matt Zhang, Managing Partner of Hivemind.
“We look forward to working with the Pact team to build out a programmable financial ecosystem on the Algorand network.”
Other contributors to the round included Meld Ventures, CMS, Orthogonal Trading, MXC, Daovergence (DVG), Dao Jones, 0x Ventures, Valhalla Capital, Ellipti, Elves Long Term Capital, Parea Capital and Algopulse.
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/.
