deals
KYVE mainnet launch on Pi Day brings decentralized, trustless data lakes on-chain
Published
2 weeks agoon

KYVE mainnet launch on Pi Day brings decentralized, trustless data lakes on-chain Liam ‘Akiba’ Wright · 2 hours ago · 2 min read
KYVE mainnet launches, offering trustless data solutions with Cosmos SDK blockchain for Web3 developers, node runners, and data analysts.
2 min read
Updated: March 14, 2023 at 10:17 pm
Cover art/illustration via CryptoSlate
Blockchain data verification network KYVE successfully launched its mainnet on Pi Day (3/14) at 3:03:14 PM CET on March 14 after two years of development.
The decentralized data lake is built using the Cosmos SDK as a Layer 1 blockchain and is designed to provide trustless data solutions for developers, node runners, and data analysts. The mainnet launch follows an incentivized testnet that attracted over 43,000 unique users and deployed an official testnet called Kaon — which serves as a mainnet replica.
KYVE’s core value proposition and use cases
In an exclusive interview with CryptoSlate, KYVE stated that, by addressing data access challenges, KYVE aims to make “trustless data a public good.”
The platform’s solutions can benefit developers building within specific ecosystems, node runners, and data analysts from the web2 space.
Additionally, KYVE’s mainnet launch and subsequent token-generation event (TGE) also open up new opportunities for collaboration with other blockchain projects, such as Sei Network, which requires off-chain data like sports results and weather data to be validated on-chain in a decentralized manner.
KYVE’s platform is customizable, allowing users to easily access trustless data for free. The data pipeline — powered by Airbyte — enables users to import data from any pool directly into their backend without needing code. This feature makes KYVE more accessible to those without coding expertise or requiring rapid development.
Token distribution and upcoming plans
KYVE’s token distribution will be vested for the top 10,000 participants on the incentivized testnet leaderboard. There are no current plans for an airdrop.
Following the mainnet launch, KYVE will focus on its official token listing and the launch of the first few pools on its protocol layer.
KYVE is also developing an oracle to supply trustless data to Cosmos projects via IBC. Trustless data is a bit issue at the moment. Chainlink, a major building block of web3, shares a similar vision for bringing data on-chain and recently launched a new product entitled “Chainlink Function” during ETHDenver.
Chainlink Functions aims to bring web2 data on-chain through an easy-to-use dashboard — echoing KYVE’s mission to improve compatibility with the off-chain world. As a result, both projects are expanding the decentralized, trustless data options in both web3 and web2.
Industry support and further information
KYVE has gained significant support from top VCs and blockchain projects, including NEAR Protocol, IOSG, Coinbase, Interchain Foundation, Arweave, and many more. Its mission is to revolutionize customized access to on and off-chain data and potentially transform the way developers work with data in the blockchain space.
As KYVE moves forward, its goal is to operate as a DAO and continue to build innovative solutions for decentralized data validation, immutability, and retrieval. With its mainnet launch, KYVE has taken a step toward making data a public good that is accessible and secure for all.
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deals
DCG’s CoinDesk receives buyout interest; exploring partial or full sale
Published
2 months agoon
January 18, 2023By
Mike Dalton
DCG’s CoinDesk receives buyout interest; exploring partial or full sale Mike Dalton · 11 hours ago · 1 min read
The firm is reportedly exploring a potential transaction.
1 min read
Updated: January 18, 2023 at 11:18 pm
Cover art/illustration via CryptoSlate
Cryptocurrency news company Coindesk is seeking a buyer through investment bankers, The Wall Street Journal reported Jan. 18.
Coindesk CEO Kevin Worth told the Journal that his company has “received numerous inbound indications of interest” in recent months.
Worth did not indicate which companies are interested in buying Coindesk. However, he told the news outlet that Coindesk has engaged the financial management firm Lazard to explore a potential transaction.
The CEO also told the Journal that Coindesk could pursue a full or partial sale, meaning that DCG may not lose complete ownership of the company.
Last November, Semafor reported that several buyers — including investment firms and rival news sites — were interested in purchasing CoinDesk for upwards of $300 million.
Coindesk is currently owned by Digital Currency Group (DCG), which acquired the company in 2016 for $500,000-$600,000. Digital Currency Group also owns the troubled cryptocurrency company Genesis and several other subsidiaries.
Bankruptcy
Vauld has until Feb. 28 to figure out a revival plan
Published
2 months agoon
January 18, 2023By
Monika Ghosh
Vauld has until Feb. 28 to figure out a revival plan Monika Ghosh · 9 hours ago · 1 min read
In early January, Vauld turned down Nexo’s final acquisition offer. Vauld is now weighing bids from two fund managers.
1 min read
Updated: January 18, 2023 at 7:18 am
Cover art/illustration via CryptoSlate
Crypto lender Vauld secured an extension from the Singapore High Court on Jan. 17 to finalize its revival plan, Bloomberg reported.
Vauld’s creditor protection was set to expire on Jan. 20 and the lender sought to extend the protection until April 21. However, the court granted an extension only until Feb. 28.
Vauld halted customer withdrawals in July 2022 amid a market downturn and was exploring a restructuring plan. Vauld owes around $400 million to its creditors — most of whom are retail investors.
Rival Nexo intended to acquire Vauld, but the deal fell apart when Vauld rejected Nexo’s final proposal on Jan. 5, according to various reports. Shortly after the proposal was rejected, authorities raided Nexo’s Bulgarian office on Jan. 12 over alleged involvement in money laundering and other financial crimes.
Vauld is in the “advanced stages” of discussion with two crypto fund managers to take over the management of its assets, an unnamed source told Bloomberg. The aim is that the fund managers would invest Vauld’s assets and repay creditors with the investment returns.
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deals
Binance-Voyager deal gets initial court approval despite SEC objections
Published
3 months agoon
January 11, 2023By
Monika Ghosh
Binance-Voyager deal gets initial court approval despite SEC objections Monika Ghosh · 4 hours ago · 1 min read
The SEC, CFIUS and New Jersey regulators will be allowed to raise objections to the final approval of the deal in the future.
1 min read
Updated: January 11, 2023 at 10:26 am
Cover art/illustration via CryptoSlate
The U.S. bankruptcy court for the Southern District of New York provided an initial greenlight for the Binance-Voyager deal on Jan. 10, Reuters reported.
Judge Michael Wiles approved the disclosure statements that explained the various aspects of the deal.
However, Judge Wiles asked the attorneys working on the deal to revise the proposed order before he gives final approval. The deal will be finalized at a future court hearing. Until then, the judge asked Voyager to seek the votes of all its creditors on the sale of its $1 billion assets to Binance.
Voyager is responding to the concerns raised by the U.S. Committee on Foreign Investment in the United States (CFIUS), Voyager counsel Joshua Sussberg told the court. CFIUS scrutinizes foreign investments in U.S. firms to determine national security risks.
As part of the proposed deal, Voyager will receive $20 million in cash from Binance and will transfer user accounts to the Binance.US crypto exchange. This would enable Voyager customers to withdraw 51% of their deposits at the time of the bankruptcy declaration, Sussberg said.
He added that if CFIUS blocks the deal, the lender will have to repay customers with its crypto assets at hand. This would result in lower payouts for Voyager users, Reuters reported.
The Securities and Exchange Commission (SEC), New Jersey regulators had previously filed objections against the Voyager-Binance deal. However, the judge allowed the deal to proceed despite the objections. The judge said that the regulators will be allowed to object to the final approval of the deal in the future, Reuters reported.
Voyager had filed for bankruptcy in July, soon after the implosion of Terra-Luna and the bankruptcy of Three Arrows Capital. Voyager was initially supposed to sell its assets to FTX but the deal fell apart when the exchange declared bankruptcy.
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