<div>
 <ul>
 <li>
 
 Exactly Protocol, a DeFi lending protocol, raised USD 2 million in funding led by Kain Warwick, Daedalus, and Esteban Ordano, with participation from Bodhi Ventures, Newtopia, NXTP Ventures, and Kaszek Ventures. This round brings the total funding to USD 5 million.&nbsp;
 
 </li>
 </ul>
 <ul>
 <li>
 
 The company also simultaneously launched its platform on the Ethereum Mainnet. It further plans to launch on Optimism in the following months.
 
 </li>
 </ul>
 
 
</div>

Decentralized Finance (DeFi)

Exactly Protocol raises USD 2 million in funding

ANALYST_QUICK_TAKE

<div>
 Solv Protocol, a Bitcoin staking platform, has secured USD 11 million in a financing round led by Nomura subsidiary Laser Digital. Other participants in the round include Blockchain Capital and OKX Ventures, among others. This new funding increases Solv Protocol's total funding to USD 25 million, valuing the company at USD 200 million.
 The funds will be utilized for expansion of platform support across various blockchains as well as for development of new features, aimed at enhancing user experience and staking efficiency. Additionally, the company intends to branch out into new regions with high Bitcoin adoption and maintain investment in its security infrastructure. 
</div> Analyst QuickTake: 
 The Bitcoin-based DeFi space has seen a large influx in investor interest, with several startups raising funding. Solv joins the likes of <a href="https: 
//sp-edge.com/companies/3727596"> Corn </a> , <a href="https: 
//sp-edge.com/companies/3529715"> Bitlayer </a> , <a href="https: 
//sp-edge.com/companies/3568018"> Arch Labs </a> , <a href="https: 
//sp-edge.com/companies/3573611"> ZKM </a> , and <a href="https: 
//sp-edge.com/companies/2977566"> Botanix Labs </a> , which raised <a href="https: 
//sp-edge.com/updates/34431"> USD 6.7 million </a> , <a href="https: 
//sp-edge.com/updates/34551"> USD 9 million </a> , <a href="https: 
//sp-edge.com/updates/29312"> USD 7 million </a> , <a href="https: 
//sp-edge.com/updates/29217"> USD 5 million </a> , and <a href="https: 
//sp-edge.com/updates/29218"> USD 8.5 million </a> , respectively, within the last four months. Notably, this round marks the company's first fundraise since it pivoted from being an asset tokenization platform to a Bitcoin-centric DeFi services platform <a href="https: 
//solvprotocol.medium.com/solvbtc-solvs-pioneering-yield-bearing-btc-empowering-an-inclusive-btcfi-ecosystem-5eea1e1d9d67"> earlier this year </a> .

Solv Protocol raises USD 11 million in new funding

<div>
 Bitcoin-based DeFi infrastructure provider, Blockstream, has secured USD 210 million in a funding round led by Fulgur Ventures. The financing came through a convertible note.
 The company intends to leverage the funding for promoting the use and development of layer-2 technologies such as the Liquid Network and Core. In addition, it plans to expand its Bitcoin mining activities and increase its Bitcoin reserves.
 Blockstream specialises in creating blockchain infrastructure solutions aimed at improving the Bitcoin ecosystem. The Liquid Network, one of its key products, is a layer-2 Bitcoin chain used for tokenising assets from the real world. The company also offers Core, a Lightning Network implementation aimed at developers and platforms for offering low-cost, fast Bitcoin transactions. Furthermore, Blockstream provides Bitcoin mining services, running several enterprise-grade mining facilities.
</div> Analyst QuickTake: 
 The Bitcoin-based layer-2 infrastructure space has seen a large influx in investor interest, with several startups raising funding. Blockstream joins the likes of <a href="https: 
//sp-edge.com/companies/3727596"> Corn </a> , <a href="https: 
//sp-edge.com/companies/3529715"> Bitlayer </a> , <a href="https: 
//sp-edge.com/companies/3568018"> Arch Labs </a> , <a href="https: 
//sp-edge.com/companies/3573611"> ZKM </a> , and <a href="https: 
//sp-edge.com/companies/2977566"> Botanix Labs </a> , which raised <a href="https: 
//sp-edge.com/updates/34431"> USD 6.7 million </a> , <a href="https: 
//sp-edge.com/updates/34551"> USD 9 million </a> , <a href="https: 
//sp-edge.com/updates/29312"> USD 7 million </a> , <a href="https: 
//sp-edge.com/updates/29217"> USD 5 million </a> , and <a href="https: 
//sp-edge.com/updates/29218"> USD 8.5 million, </a> respectively, within the last four months. Notably, this news coincides with Bitcoin's price nearing all-time highs, with the company stating its plans to strengthen its position ahead of the next Bitcoin market cycle and capitalize on increasing institutional interest in Bitcoin-based infrastructure.

Blockstream raises USD 210 million in convertible note funding to drive layer-2 growth

PROMINENT_CATEGORY

<div>
 Uniswap Labs, a decentralized exchange, has launched Unichain, a new Ethereum-based Layer 2 blockchain. This new blockchain aims to provide faster and cheaper transactions as well as enhanced liquidity across chains.
 Unichain is backed by the Optimism Superchain and comes with several features. These include one-second block times (to be optimized to 200–250 milliseconds), cross-chain interoperability, a Trusted Execution Environment (TEE) for building blocks, and a Community Validation Network, which has been built in collaboration with Web3 development company <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwritings.flashbots.net%2Fintroducing-rollup-boost&amp;esheet=54134511&amp;newsitemid=20241010473620&amp;lan=en-US&amp;anchor=Flashbots&amp;index=2&amp;md5=ece289643e7c80f554c980feb0adfba2">Flashbots</a>.
 Uniswap has declared that the newly introduced chain is open-source. The private testnet is already accessible as of now, and the public mainnet is expected to be released later this year.
 
</div> Analyst QuickTake : 
 This product launch signals Uniswap's entry into the DeFi infrastructure space alongside other leading exchange providers such as <a href="https: 
//sp-edge.com/companies/95666"> Coinbase </a> , <a href="https: 
//sp-edge.com/companies/602891"> Kucoin </a> , and <a href="https: 
//sp-edge.com/companies/514390"> Binance </a> , all of which offer their own layer 1 and 2 blockchain networks. Notably, this announcement comes at a challenging time for the company, which has been dealing with various regulatory issues over the past year. In April, it <a href="https: 
//sp-edge.com/updates/28456"> received a “Wells” notice </a> from the US Securities and Exchange Commission (SEC), and, just last month, it <a href="https: 
//sp-edge.com/updates/33251"> settled charges </a> with the US Commodity Futures Trading Commission (CFTC).

Uniswap Labs launches a new Layer 2 blockchain named Unichain

<div>
 French Fintech, Kriptown, a blockchain-backed stock exchange focusing on small and medium businesses, lifted EUR 4.2 million (USD 4.6 million) in a Series A funding round that involved BNP Paribas, Bpifrance, and Centilux Family Office.
 The platform offers a service for SMEs and startups to source equity financing by trading tokenised versions of their shares. Users can buy, sell and trade these tokens on a secondary market within the platform. Transactions, including initial token issuance and subsequent trades, are carried out with immediate settlement and delivery in Euros.
 Further, Kriptown also provides a feature enabling firms to craft and distribute their digital assets to relevant participants like employees and partners as part of their incentive schemes. They also offer a white-label tokenisation tech service to businesses interested in tokenising tangible assets.
</div>

Kriptown raises EUR 4.2 million in Series A funding to build SME stock exchange

<div>
 
 Phantom, a self-custodial wallet, has launched a test version supporting Base, Coinbase's Ethereum layer-2 blockchain.
 This new version lets users handle assets from Solana, Ethereum, Bitcoin, and Base within one wallet interface. They can also trade tokens like USDC and ETH on the Base network with various payment methods.
 The wallet provides access to Base's DeFi application and NFT platform ecosystem, enabling users to browse and use a growing array of decentralized services.
 Phantom states that the update enhances security through features such as ledger compatibility and spam detection. This includes auto filtering of spam NFTs and tokens and flagging potentially malicious transactions to protect users from scams.
 
</div>

Phantom launches test version supporting Base network

<div>
 RedStone, a DeFi middleware infrastructure protocol, has introduced staking oracles for Bitcoin staking. This development enables users to stake Bitcoin in return for Bitcoin-centric liquid-staking tokens on the Ethereum blockchain. It allows users to use staked Bitcoin in a variety of applications such as lending on platforms like Morpho and Compound, or to create composable leverage.
</div> Analyst QuickTake : 
 This news marks RedStone's first foray into the Bitcoin-based DeFi space, which has seen a large influx in investor interest . A number of startups have raised funding over the last six months, including <a href="https: 
//sp-edge.com/companies/3529715"> Bitlayer </a> , <a href="https: 
//sp-edge.com/companies/3568018"> Arch Labs </a> , <a href="https: 
//sp-edge.com/companies/3573611"> ZKM, </a> and <a href="https: 
//sp-edge.com/companies/2977566"> Botanix Labs, </a> which raised <a href="https: 
//sp-edge.com/updates/31906"> USD 11 million </a> , <a href="https: 
//sp-edge.com/updates/29312"> USD 7 million </a> , <a href="https: 
//sp-edge.com/updates/29217"> USD 5 million, </a> and <a href="https: 
//sp-edge.com/updates/29218"> USD 8.5 million, </a> respectively. Notably, Redstone raised USD 15 million in Series A funding in July to push its oracles into the emerging liquid staking landscape.

RedStone launches Bitcoin staking oracles

<div>
 Bitcoin oracle provider, APRO Oracle, has successfully raised USD 3 million in a seed funding round. The round was led by Franklin Templeton, Polychain Capital, and ABCDE Capital, and saw participation from CMS Holdings, Comma3 Ventures, UTXO Ventures, Oak Grove Ventures, and Presto Labs.
 APRO Oracle intends to use the funding to bolster product development, augment its market presence, and expand its team.
 The company runs a decentralized oracle network on the Bitcoin blockchain. APRO's flagship product, Oracle 3.0, gathers prices from professional-grade data services and exchanges. This gathered data is then used by DeFi developers in their applications.
</div>

APRO Oracle raises USD 3 million in seed funding to support product development and expand team

<div>
 Bitcoin layer-2 network, Bitlayer, has raised USD 9 million in an extended Series A funding round. The capital was secured through leaders such as Polychain Capital, along with participants including Franklin Templeton, SCB Limited, Selini Capital, G-20 Group, and several other institutional investors. This financing has brought Bitlayer's total funds raised to a staggering USD 25 million.
 Bitlayer will utilize this freshly procured capital to boost the pace of development and deployment of their network, Bitlayer. Additionally, these funds will be influential in supporting the launch of their upcoming project, Bitlayer V2, a Bitcoin-native rollup.
</div> Analyst QuickTake: 
 The Bitcoin-based DeFi space has seen a large influx in investor interest, with many startups raising funding. These include <a href="https: 
//sp-edge.com/companies/3568018"> Arch Labs </a> , <a href="https: 
//sp-edge.com/companies/3573611"> ZKM </a> , and <a href="https: 
//sp-edge.com/companies/2977566"> Botanix Labs </a> , which raised <a href="https: 
//sp-edge.com/updates/29312"> USD 7 million </a> , <a href="https: 
//sp-edge.com/updates/29217"> USD 5 million </a> , and <a href="https: 
//sp-edge.com/updates/29218"> USD 8.5 million </a> , respectively, within the last six months.&nbsp;Notably, this funding marks Bitlayer's fourth round for the year, following its initial <a href="https: 
//medium.com/@Bitlayer/bitcoin-layer-2-network-bitlayer-raises-5m-in-seed-round-backed-by-framework-ventures-abcde-72025490fc6f"> USD 5 million </a> seed round in March, its <a href="https: 
//sp-edge.com/updates/29667"> investment from OKX Ventures </a> in May, and its <a href="https: 
//sp-edge.com/updates/31906"> USD 11 million </a> Series A round in July.

Bitlayer raises USD 9 million in extended Series A funding

<div>
 
 Credbull, a decentralized private credit platform, has launched a new fixed-yield credit facility called LiquidStone on the Plume Network blockchain. It has an initial cap of USD 100 million, with plans to expand to USD 500 million in the first quarter of 2025.
 LiquidStone offers a 30-day fixed yield of 10% annualized, with daily redemption features. The fund's assets diversify across high-quality liquid assets, collateralized on-chain lending, and trade financing solutions for small to mid-size businesses.
 
</div>

Credbull launches new private credit fund on Plume Network

<div>
 
 LayerZero and EigenLayer have collaborated to create the CryptoEconomic Decentralized Verifier Networks (DVNs) Framework. This framework allows users to establish a DVN on EigenLayer using different tokens and operators. It offers economic security for message validation across various blockchains, through staking assets like ZRO, EIGEN, and ETH.
 The framework aims to improve blockchain interoperability through a marketplace for verifiers. This allows applications to select DVNs according to their security requirements. It also offers a transparent method to evaluate DVN trustworthiness based on the value of staked assets and the slashing risk.
 
</div> Analyst QuickTake: 
 LayerZero's focus on improving blockchain interoperability is highlighted by its earlier partnerships. In July 2024, it <a href="https: 
//sp-edge.com/updates/31428"> teamed up with Initia Labs </a> , a Move-based layer-1 network, to create an interoperability standard for Cosmos. This collaboration allows Cosmos SDK-based chains to connect with LayerZero-enabled chains using a Cosmos SDK Module. Additionally, <a href="https: 
//sp-edge.com/updates/32144"> LayerZero partnered with Animoca Brands </a> to enhance the compatibility of digital assets in the Web3 gaming space.

All Updates

Exactly Protocol raises USD 2 million in funding

Solv Protocol raises USD 11 million in new funding

Blockstream raises USD 210 million in convertible note funding to drive layer-2 growth

Uniswap Labs launches a new Layer 2 blockchain named Unichain

Kriptown raises EUR 4.2 million in Series A funding to build SME stock exchange

Phantom launches test version supporting Base network

RedStone launches Bitcoin staking oracles

APRO Oracle raises USD 3 million in seed funding to support product development and expand team

Bitlayer raises USD 9 million in extended Series A funding

Credbull launches new private credit fund on Plume Network

LayerZero and EigenLayer launch CryptoEconomic DVN Framework

Decentralized Finance (DeFi)

Exactly Protocol raises USD 2 million in funding

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