Krypital Group February Review
👉 New investment| 👉 Projects updates👉 Events Updates
👉 Market Recap | 👉 About Krypital Group
- ZeroLend
ZeroLend operates as a decentralized lending protocol leveraging L2 solutions such as zkSync and Manta Network. This innovative framework enables faster transactions, lower fees, and enhanced scalability when contrasted with conventional Ethereum-based protocols. Similar to other lending platforms, ZeroLend facilitates users to deposit various cryptocurrencies (e.g., ETH, USDC) and earn interest on their assets. Borrowers gain access to these funds by paying an interest rate, fostering a dynamic marketplace for financial transactions.
The ZeroLend Ecosystem
- DeFi Lending (Live): A decentralized, non-custodial liquidity protocol enabling users to participate as liquidity providers or borrowers within the zkSync Ecosystem. ZeroLend also aims to provide lending&borrowing on various supported assets across multiple chains. Powered by LayerZero.
- $ONEZ — the yield-bearing Stablecoin: ZeroLend has its own stablecoin that is designed to capture the native yield from the lending protocol and has self loan repaying capability. Users can also mint $ONEZ and participate in DeFi within the zkSync ecosystem.
- ZeroLend Governance ($ZERO): A governance system for governing the ZeroLend Protocol, enabled by the $ZERO token.
- Account Abstraction (Live): This feature allows for gas-less transactions, social logins, delegated transactions, etc.
- Support for Real-World Assets (Q2 2024): Real World Assets (RWA) is a trillion-dollar market. ZeroLend is at the forefront of integrating these assets into our lending protocol.
- Privacy Layer using zkStack (Q4 2024): With compliance with regulations (such as KYC), users can lend/borrow assets using zk proofs and keep their transactions private.
Why Zerolend
- High Yields: Due to its L2 integration and efficient design, ZeroLend often offers competitive interest rates for lenders.
- Low Fees: Transaction fees on ZeroLend are significantly lower compared to traditional Ethereum-based protocols.
- Fast Transactions: L2 technology empowers ZeroLend with near-instantaneous transactions, improving user experience.
- Community Driven: The $ZERO token grants holders voting rights on protocol governance, fostering a community-driven approach.
$ZERO token
- Staking: ZERO token holders will have the option to stake their tokens on the protocol. That way, they will be rewarded with additional tokens as a reward for their participation.
- Fees & validator rewards: ZERO tokens will be used to accumulate transaction fees and pay fees to validators of ZeroLend Hyperchain.
- Incentive programs: The protocol will conduct various programs to encourage users to actively participate in the platform.
👉Projects updates
- deBridge
1. deBridge IaaS is officially live, deBridge Interoperability-as-a-Service (IaaS) is the first-ever cross-chain interoperability subscription service for both EVM & SVM ecosystems, permissionless and permissioned
https://twitter.com/deBridgeFinance/status/1719761789435420745
2. deBridge is a Jupiter LFG launchpad candidate.
https://www.jupresear.ch/t/introducing-debridge-to-lfg/5351
3. DLN has added a new chain, Neon EVM, to enable seamless trading across all the supported chains.
- ZKX
1. ZKX Pro Trade is Live on Starknet Mainnet
- ZeroLend
1. ZeroLend’s successful closure of the Seed Round, securing 3 million USD at a 25 million valuation.
Inculding BlockchainFF, Momentum, Morningstar, KrypitalGroup Newmancapitalvc, bantercap, cypher capital, OzaruLTD, dV/dT, FundBison, iAngelsCapital, Transform Capital, AsteroidCapital, KrypitalGroup, genblockcapital, gbvofficial and ViabtcCapital
- Injective
1. The First Ever Omnichain Domain Release for Injective and Solana, The first ever omnichain domain name service has officially launched on mainnet, vastly enhancing cross-chain user experience across Solana and Injective.
Starting now, users can transact across Solana and Injective using the same domain, further unifying the two ecosystems.
2. Ethena Shards Expand Beyond Ethereum, Launching Exclusively on Injective, Injective announces its exclusive integration with Ethena, marking the first integration for Ethena outside of the broader Ethereum ecosystem. This collaboration paves the way for Injective and the wider IBC community to access USDe and participate in Ethena’s Shard Campaign, creating further opportunities to earn for users.
- PYTH
1. Pyth Retrospective Airdrop: Phase 2 — Decentralized Apps, The 160+ applications eligible for the second phase of the Retrospective Airdrop program span a number of DeFi use cases, including DEXs, borrow/lending, structured products, stablecoin protocols, and even data analytics and decision intelligence.
2. Bitcoin ETF Price Feeds on Pyth Network, The Pyth Network has launched its Bitcoin ETF Price Feeds to make real-time, credible price data for 13 Bitcoin exchange-traded funds accessible to DeFi developers and users.
https://pyth.network/blog/bitcoin-etf-price-feeds-on-pyth-network
- Solv Protocol
1. Solv’s Native Yield Assets Backed by Trading Strategies
Solv introduces a trading-strategy-based mechanism designed to leverage various chains, protocols and exchanges to access diverse yield opportunities. By dynamically allocating liquidity across different trading-strategies, it maximizes the generation of competitive native yields.
👉Event updates
Join us for these and other conferences in the coming months! Let us know if you’d like to meet or possibly co-host a side event, and we’d be more than happy to get in touch. In addition, we would love to attend more industry events to network through speaking or panelist opportunities. If you are organizing any event please get in touch with us at Contact@Krypital,com and we would like to discuss how we can provide support.
👉Market Recap
Bitcoin February Insight
👉Market Recap
Bitcoin February Insight
Currently, over 97% of Bitcoin addresses are profitable, reaching the highest profit level since November 2021.
Snowden: Predicts that this year a sovereign government will be disclosed as having been continuously purchasing Bitcoin.
On February 29th, it was reported that Edward Snowden,predicts a sovereign government will be disclosed this year as continuously purchasing Bitcoin as an alternative to gold reserves, although he did not publicly disclose this fact.
Developer Leonidas of Ordinals announces that its experimental project Runestone will undergo an airdrop.
On February 18th, developer Leonidas of Ordinals announced on X platform that the Runestone airdrop is imminent. Users can check their Ordinals address at a designated website to confirm if they will receive Runestone. However, Leonidas has not yet announced the specific airdrop timing. It is reported that Runestone is an experimental project initiated by Ordinals developer Leonidas inspired by the RISC project. Runestone has completed a snapshot at block height 826,600 (Ordinals first anniversary). The total supply of Runestone is 110,000, with a maximum of one per address. They will be airdropped in the form of inscriptions, and once Casey completes the development of the Rune protocol, Runestone inscriptions will be airdropped to inscription holders at a 1:1 ratio.
Trump: Bitcoin has developed its own vitality and may need some regulation.
On February 23rd, according to CoinDesk, former U.S. president and leading Republican contender Donald Trump said that Bitcoin (BTC) has “take a life of its own,” and may need some regulation.
Trump spoke to Fox News at a town hall event in South Carolina ahead of the Republican primary. Former South Carolina governor Nikki Haley remains the only other contender, vowing to continue the campaign even if she loses in Saturday’s primary.
When asked by Fox News host Laura Ingraham whether the U.S. should accept Bitcoin as the next logical step, Trump said, “A lot of people are doing it (referring to Bitcoin),” “I’ve always liked a currency… I like the dollar.” Regarding Bitcoin, he said, “It has developed its own life, it may need some regulation. But a lot of people are accepting it. I see more and more people wanting to pay with Bitcoin. You’re seeing some interesting things. I can accept its existence in one way or another.” Trump previously called central bank digital currencies (CBDCs) dangerous and pledged not to allow them to exist if elected.
The founder of Ordinals is seeking suggestions regarding the Genesis RUNE. The community can submit suggestions regarding the name, currency symbol, divisibility, and minting conditions.
On February 12th, it was announced that Casey Rodarmor, the founder of the Bitcoin NFT protocol Ordinals, is seeking suggestions regarding the Genesis RUNE. The community can submit suggestions regarding the name, currency symbol, divisibility, and minting conditions. Casey mentioned that RUNE 0–9 might be hard-coded, all being minted in a public and fair manner, without any type of pre-mining or pre-allocation. Previously, Casey announced during the Taipei Blockchain Week that the mainnet launch of the Runes protocol would occur at block height 840,000, which coincides with the next Bitcoin halving event. The fourth Bitcoin halving is expected to take place on April 23, 2024.
ETH February Insight
Coinbase has provided arguments from legal, technical, and economic perspectives to support the approval of Grayscale Ethereum Spot ETF.
On February 22nd, Coinbase responded to a request for comments from the U.S. SEC regarding Grayscale Ethereum Trust (ETHE) transitioning into a spot ETF. They outlined reasons why an Ethereum spot ETF should be approved, starting with the assertion that ETH is not a security. Both before and after the Ethereum merger, entities such as the SEC, CFTC, and the market have not considered ETH a security but rather a commodity.
Additionally, they highlighted the strong governance capabilities of Ethereum’s proof-of-stake, which reduce risks of fraud and manipulation. Economically, they argued that ETH has flexibility comparable to BTC in meeting the criteria for ETP approval by regulatory bodies.
Coinbase expressed their commitment to supporting innovation and fostering a transparent, secure, and inclusive financial ecosystem through ongoing dialogue and research.
Regarding the ETHGlobal hackathon, on February 22nd, ETHGlobal announced the seven projects that made it to the final round. These projects include:
1. priv.cast: an anti-counterfeit and private voting application built using the Farcaster framework.
2. VeriBot: utilizes zkML to prove (closed) source code is free of vulnerabilities.
3. zkDL: an identity verification project using zero-knowledge proofs to protect user privacy.
4. 0xShadows: a multisig wallet allowing owners to anonymously submit/approve/deny transactions.
5. ZK open banking: a fully private open banking protocol supported by the aztec network.
6. EVMTrace: aims to reveal the use of cryptographic technologies on-chain by collecting data using techniques such as tracing, tracking precompiles, pattern recognition, and manual work.
7. Myriad: a new way to engage with DAOs to derive actual enjoyment, allowing users to create and participate in DAO platforms.
Ethereum Foundation: The Dencun mainnet upgrade is expected to be activated on March 13th at 21:55 UTC.
The Ethereum Foundation officially announced on February 27th that the Dencun mainnet upgrade is expected to be activated on March 13th, 2024, at 21:55 Beijing time, at block height 269568. This upgrade introduces EIP-4844, also known as “protodanksharding,” which aims to reduce transaction fees on Layer 2 networks through temporary data blob technology. Node operators and stakers are required to update their software versions as per the announcement.
Vitalik Buterin: Total value locked (TVL) should not be the goal, but a necessary evil
According to PANews, Vitalik Buterin posted on Warpcast that total value locked (TVL) should not be the goal, but a necessary evil. Every dollar locked up in a protocol (especially an immature one) rather than in a secure and simple wallet is a security risk in some way. He stressed that sometimes we need to take such risks to gain valuable benefits, but lockdowns for the sake of lockdowns should be minimized.
👉About Krypital Group
Founded in 2017, Krypital Group is a leading global venture capital firm and blockchain incubator with active arms in North America, Asia and Latin America. Vested in a complete blockchain ecosystem, the company has specific investment funds for both primary and secondary markets, as well as providing end-to-end services such as project incubation, brand management and technical advisory. To date, Krypital Group has invested and incubated more than 100 projects so far.
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