Connect with us

deals

KYVE mainnet launch on Pi Day brings decentralized, trustless data lakes on-chain

Published

on

KYVE mainnet launch on Pi Day brings decentralized, trustless data lakes on-chain

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

Advertisement

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.

Advertisement

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.

Advertisement

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.

Advertisement

deals

DCG’s CoinDesk receives buyout interest; exploring partial or full sale

Published

on

DCG’s CoinDesk receives buyout interest; exploring partial or full sale

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

Advertisement

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.

Advertisement

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.

Continue Reading

Bankruptcy

Vauld has until Feb. 28 to figure out a revival plan

Published

on

Vauld has until Feb. 28 to figure out a revival plan

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

Advertisement

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.

Advertisement

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.

Read Our Latest Market Report

Continue Reading

deals

Binance-Voyager deal gets initial court approval despite SEC objections

Published

on

Binance-Voyager deal gets initial court approval despite SEC objections

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

Advertisement

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.

Advertisement

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.

Read Our Latest Market Report

Advertisement
Continue Reading

Top posts

Lumber to gold ratio breaks down, suggesting a risk-off environment Lumber to gold ratio breaks down, suggesting a risk-off environment
Lumber49 mins ago

Lumber to gold ratio breaks down, suggesting a risk-off environment

Lumber to gold ratio breaks down, suggesting a risk-off environment James Van Straten · 34 seconds ago Lumber to gold...

Biggest Movers: Cardano Moves To 6-Week High, Climbing By Over 6% On Friday Biggest Movers: Cardano Moves To 6-Week High, Climbing By Over 6% On Friday
ada2 hours ago

Biggest Movers: Cardano Moves To 6-Week High, Climbing By Over 6% On Friday

Cardano moved to a six-week high on Friday, as consumer sentiment in the United States fell by more than expected....

Non-Fungible Token Sales Slid 31% Lower In March With $882 Million In NFT Sales Non-Fungible Token Sales Slid 31% Lower In March With $882 Million In NFT Sales
Art3 hours ago

Non-Fungible Token Sales Slid 31% Lower In March With $882 Million In NFT Sales

According to statistics, the number of non-fungible token (NFT) sales in March was 31.42% lower than the previous month, dropping...

XRP Perpetual Futures Open Interest skyrockets to $610 million XRP Perpetual Futures Open Interest skyrockets to $610 million
Analysis3 hours ago

XRP Perpetual Futures Open Interest skyrockets to $610 million

XRP Perpetual Futures Open Interest skyrockets to $610 million Samuel Wan · 2 hours ago · 2 min read The...

Bitcoin, Ethereum Technical Analysis: BTC Drops Below $28,000, ETH Under $1,800 Bitcoin, Ethereum Technical Analysis: BTC Drops Below $28,000, ETH Under $1,800
Analysis5 hours ago

Bitcoin, Ethereum Technical Analysis: BTC Drops Below $28,000, ETH Under $1,800

Bitcoin was once again trading below the $28,000 level on Friday, as markets consolidated ahead of a key day of...

Bitgo Launches Storage And Tracking Solution For Bitcoin-Based Ordinal Inscriptions Bitgo Launches Storage And Tracking Solution For Bitcoin-Based Ordinal Inscriptions
adoption6 hours ago

Bitgo Launches Storage And Tracking Solution For Bitcoin-Based Ordinal Inscriptions

On Thursday, digital asset custody provider, Bitgo, announced the launch of its storage and tracking solution for Bitcoin-based Ordinal inscriptions....

Assessing if Hedera’s U.S. presentation can wind down crypto regulatory heat Assessing if Hedera’s U.S. presentation can wind down crypto regulatory heat
altcoin10 hours ago

Assessing if Hedera’s U.S. presentation can wind down crypto regulatory heat

The Hedera Hashgraph team spoke to the U.S. delegation about the blockchain ecosystem. Clampdown on the ecosystem remains constant but...

Shibarium testnet achieves an impressive milestone, but what about BONE Shibarium testnet achieves an impressive milestone, but what about BONE
altcoin11 hours ago

Shibarium testnet achieves an impressive milestone, but what about BONE

Shibarium testnet achieves significant milestones with over 100,000 transactions on Puppynet and 190,000 transactions in total. Despite a recent downtrend,...

Avalanche may have had a solid Q1, but what promise does April hold Avalanche may have had a solid Q1, but what promise does April hold
altcoin15 hours ago

Avalanche may have had a solid Q1, but what promise does April hold

The AVAX bullish sentiment has decreased after an impressive all-round performance in March. The Avalanche blockchain experienced a great deal...

SBF hoarded too much data for the FBI to handle SBF hoarded too much data for the FBI to handle
Crime16 hours ago

SBF hoarded too much data for the FBI to handle

SBF hoarded too much data for the FBI to handle Mike Dalton · 7 seconds ago · 2 min read...

How to Expand a Business: 10 Steps for Cannabis Companies How to Expand a Business: 10 Steps for Cannabis Companies
Uncategorized16 hours ago

How to Expand a Business: 10 Steps for Cannabis Companies

Congratulations! You’ve made it this far as a successful business owner. That alone deserves a pat on the back. But...

FTX EU opens European withdrawals website FTX EU opens European withdrawals website
Bankruptcy17 hours ago

FTX EU opens European withdrawals website

FTX EU opens European withdrawals website Mike Dalton · 29 mins ago · 2 min read The site will solely...

Monero [XMR] bulls defended $152 support- Is $168.8 achievable Monero [XMR] bulls defended $152 support- Is $168.8 achievable
altcoin17 hours ago

Monero [XMR] bulls defended $152 support- Is $168.8 achievable

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s...

Will Radiant Capital’s RDNT enjoy a bullish course? Binance has an answer Will Radiant Capital’s RDNT enjoy a bullish course? Binance has an answer
altcoin18 hours ago

Will Radiant Capital’s RDNT enjoy a bullish course? Binance has an answer

Binance has embraced the first second-generation DeFi lending and borrowing platform. RDNT’s demand was off to a slow start, but...

Axie Infinity [AXS] Price Analysis: 30 March Axie Infinity [AXS] Price Analysis: 30 March
Uncategorized20 hours ago

Axie Infinity [AXS] Price Analysis: 30 March

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice. Indicators pointed to a neutral...

Avalanche Foundation launches NFT initiative Avalanche Foundation launches NFT initiative
adoption20 hours ago

Avalanche Foundation launches NFT initiative

Avalanche Foundation launches NFT initiative Mike Dalton · 4 hours ago · 1 min read The program will support artists...

Binance: Will Bicasso NFTs be the catalyst to BNB’s recovery? Examining… Binance: Will Bicasso NFTs be the catalyst to BNB’s recovery? Examining…
altcoin20 hours ago

Binance: Will Bicasso NFTs be the catalyst to BNB’s recovery? Examining…

Binance has launched another free NFT minting event, which was met with overwhelming demand and claimed within five hours. Despite...

Most Crypto Sent From Wallets Sponsoring Russia In Ukraine War Reaches CEXs, Binance, Research Shows Most Crypto Sent From Wallets Sponsoring Russia In Ukraine War Reaches CEXs, Binance, Research Shows
Binance20 hours ago

Most Crypto Sent From Wallets Sponsoring Russia In Ukraine War Reaches CEXs, Binance, Research Shows

Millions of U.S. dollars’ worth of cryptocurrency has been sent to centralized exchanges (CEXs), most notably Binance, from wallets providing...

Trending