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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/.
Yieldly Teal 5 Distribution Pools Breached
Algorand DeFi platform Yieldly has informed the community that they have been the victims of an unauthorized breach on their Teal 5 Distribution Pools. At the time of writing Yieldly have asked all users to keep an eye on their channels for the latest daily updates. Yieldly have also reported that they have made a snapshot of wallets affected by the breach for the purpose of an airdrop to reimburse.
Algomint Host Mammoth Ecosystem Showcase
Algomint this week hosted a star-studded ecosystem showcase livestream in which some of Algorand’s most prominent projects and figures were given an opportunity to discuss some of the most important issues in DeFi today. The line-up of guests included Meld Capital, Algofi, Algorand Foundation, Folks Finance, Meadowlabs, Opulous, Pact, Payscript, Prismatic, Reach, xBacked, and, ZestBloom. If you haven’t already be sure to watch the full discussion here.
Algorand Host Women in Web3 Twitter Space to Celebrate International Women’s Day
To commemorate International Women’s Day celebrations earlier this week, Algorand hosted a live Twitter Spaces session with some of the ecosystem’s most prominent female figures. Among the list of speakers was new Algorand Foundation CEO Staci Warden who spoke about the importance of making women feel welcome in the Web3 community. Listen to the full replay of the session here.
AlgoDAO close seed round
AlgoDAO have this week announced the successful closure of a $3.5 mil seed round led by Borderless Capital who have individually provided a $1 mil investment. AlgoDAO is building a suite of DeFi products including a launchpad.
“We are excited to back AlgoDAO and their vision of building the right technological stack for the growth of the Algorand network economy,” said Bordlessless Capital CEO and Managing Partner David Garica.
“AlgoDAO is democratizing access for both Web3 developers and supporting users that are financially backing the Web3 apps they are interacting with.”
“This is a new paradigm shift in crowdfunding where users become funders and value is created for all the stakeholders in the ecosystem.
“AlgoDAO is natively taking advantage of all the Algorand crypto primitives to accelerate this new era of Web3 innovation”.
Algorand Launch Revamped Ecosystem Directory
Algorand have revamped their ecosystem directory on their official website which already features details on several of the ecosystem’s most well-known projects. The new directory is now divided into various categories including highest-ranked projects, new to the creator economy, trending DeFi, projects to watch, top tools & resources, and NFT marketplaces. Projects can also now apply to be added into the ecosystem directory via a new project submission form.
Algorand Partner With Sustainable Energy Project Wattz
Algorand has this week reiterated its support of Wattz a project building a platform designed to accelerate the adoption of green technologies using blockchain. The WATTZ token is an Algorand Standard Asset (ASA) that can be earned by using sustainable energy and mobility. Wattz has created a line of products and licenses that helps users earn WATTZ and be rewarded for using sustainable energy and mobility. The project is set to launch on testnet in Q2 2022.
Borderless DAO Confirmed Following Community Vote
Borderless Capital have confirmed that they are beginning work on a new Borderless DAO fund following the conclusion of a community vote. The new fund will allow Borderless community members to actively participate in capital deployment initiatives. In a follow-up statement to the conclusion of the vote, Borderless expressed excitement that the community seemed to share their vision of a DAO investment fund. The firm will provide updates on their progress as the fund launches in the coming months.
Folks Finance Lists New Assets on Testnet
Folks Finance have provided updates to their testnet protocol now allowing users to deposit and borrow both goETH and xUSD. This integration means that users will be able to practice using what will be a likely use case for Folks Finance integrating with other DeFi platforms such as Algomint and xBacked as is the case in this example. The project are set to launch their mainnet protocol later this year.
Pact Announces NFT Drops to Top Liquidity Providers
Pact have announced a series of NFT giveaways taking place over the coming weeks in collaboration with Zestbloom including as a reward for their top Liquidity Providers. The project are offering NFTs of varying degrees of rarity which will be proportionally awarded to leading liquidity providers. Users can view the full suite of Pact reward NFTs here.
Prismatic Announces Strategic Partnership With Algoracle
Algorand DAO platform Prismatic has announced a new partnership with Algoracle which will allow Prismatic to utilize Algoracles data feeds.
“This collaboration is a powerful step forward for Algorand DeFi,” said Kyle Wang, founding partner of Valhalla Capital and strategic adviser to both companies.
“Prismatic’s advanced DAO tooling capabilities and Algoracle’s reliable, trusted data feeds comprise the essential services that will pave the way for the following generations of DApps on Algorand to flourish.”
“We are excited to partner with Prismatic and provide oracle services to their application,” said Algoracle CEO Abdul Osman.
“Strong partners like Prismatic will help to make the Algoracle network more secure by providing diversified services, such as running nodes and providing feeds.”
Price Watch
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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/.
