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Daily News Summary 10/7

July 10, 2024 Tóth Balázs
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New Layer-2 Network Built on TON

At the Ethereum Community Conference (EthCC) in Brussels, the new project TON Applications Chain (TAC) announced its plans to build a layer-2 network on the TON blockchain, supported by The Open Platform. A key feature of the TAC project is its compatibility with the Ethereum Virtual Machine (EVM), allowing developers who have built applications under the widely adopted Ethereum standard to easily port them to the new TAC layer-2 network within the TON ecosystem.

Build on Bitcoin Secures $1.6 Million in Funding

Build on Bitcoin (BOB), a hybrid layer-2 project powered by Bitcoin and Ethereum, has secured $1.6 million in a strategic funding round led by Ledger Ventures. Various angel investors, including prominent figures from BlackRock, Ordinals, Aave, Magic Eden, and Injective, also contributed. Out of the funds raised, $1 million will be allocated to a BOB incubator aimed at supporting new startups focused on Bitcoin infrastructure and BOB dapps.

Hypersphere Ventures Promises 40% Return

Hypersphere Ventures, a crypto venture capital firm, has opened its recently launched liquid fund to external investors. The Atlas fund, currently managing $130 million in assets, is operated by multiple managers and aims to deliver a 40% return through various trading strategies, including DeFi, quantitative trading, market making, and arbitrage.

SingularityNET and Filecoin Joint Project

AI platform developer SingularityNET has announced a partnership with the Filecoin Foundation, the governing body behind the Filecoin network. Their goal is to integrate AI into decentralized physical infrastructure networks (DePIN) while maintaining decentralization, AI ethics, and data authenticity. The partnership will also establish an AI ethics working group to ensure ethical AI development.
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