Protocol Village: Plume Network Testnet Launch, Modular EVM L2 Designed for RWAs

There has been a recent development in the world of blockchain. Numerous upgrades are being made, as well as funding announcements and strategic collaboration. These developments have led to various conversations, and from July 11 to July 17, important steps were taken in the accomplishment of different blockchain projects. 

The Plume Network Testnet Launch stands out. It marks a significant integration of real-world assets (RWAs) into the blockchain ecosystem. This means that investors can acquire properties on the digital scene, such as real estate. 

Plume Network Testnet Launch

On July 15, Plume Network, a modular EVM layer-2 built to bring real-world assets (RWAs) on-chain, announced the Plume Network Testnet Launch. Utilising Celestia for its underlying infrastructure and supported by partners, including Bitget Wallet and Supra, Plume Network aims to create a seamless bridge between the crypto world and traditional finance. The Plume Network Testnet Launch signifies the beginning of a new era where crypto natives and traditional finance participants can invest in and utilise a wide range of RWAs, such as real estate, collectibles, and alternative assets.

The Plume Network Testnet Launch provides a platform for projects to easily deploy various types of assets or markets by leveraging Plume’s compliant technology stack and accessing its strong crypto-native community. According to reports, the Plume Network Testnet Launch is set to Uuher RWAs in July. This innovative approach promises to open new avenues for investment and asset management, catering to both crypto enthusiasts and traditional investors.

BounceBit’s ‘Easy’ Protocol

Following closely behind, BounceBit, a Bitcoin-oriented proof-of-stake layer-1 blockchain, launched its first product, “Easy,” after its mainnet launch in May. This yield-bearing protocol aims to make the institutional yield on Bitcoin (BTC) and USDT more accessible. Leveraging basic trading for delta-neutral yield and off-exchange settlement (OES) with industry-standard custody via Cefcu, BounceBit is set to attract significant attention from institutional investors.

Bima Labs Fundraising Success

Bima Labs, the developer of Bitcoin-backed stablecoins, allegedly raised over $2.25 million in a seed fundraising round led by Portal Ventures. The funds will support the development and expansion of Bima Labs’ innovative financial products.

Pyth’s Express Relay Launch

Pyth, a blockchain oracle protocol, launched its newest product, Express Relay, on mainnet. This product addresses the maximal extractable value (MEV) issue in decentralized finance (DeFi) by directly connecting DeFi protocols with a network of established searchers through protocol-controlled auctions for events like liquidations.

SSV Network’s Distributed Validator Technology

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SSV Network deployed the Simple Distributed Validator Technology (DVT) Software Module, enhancing the resilience, distribution, and security of the Lido protocol. This development is a significant step towards a more decentralised and secure Ethereum staking ecosystem.

RECRD’s SocialFi Platform

RECRD, a SocialFi platform, allegedly raised $4 million in funding led by the Sui Foundation. The platform allows creators, users, and brands to monetize through dynamic video reactions and DeFi integration powered by the Sui blockchain.

Coinbase Wallet Web App

Coinbase introduced an app that lets users manage all their on-chain wallets and activities in one place. This app simplifies the user experience, particularly for newcomers, by allowing them to connect multiple wallets and perform various transactions.

Sonic and Neon Stack Partnership

Sonic, a gaming-focused layer-2 network atop Solana, partnered with Neon Stack to bring EVM compatibility to the Sonic Virtual Machine (SVM). This collaboration allows Ethereum (ETH) developers to launch EVM-powered dapps on Sonic’s HyperGrid L2, enhancing the gaming ecosystem on Solana.

Animoca Brands’ Validator on Core Chain

Animoca Brands launched a validator on the Core Chain, a Bitcoin (BTC) powered layer-one blockchain for EVM-compatible smart contracts. This move underscores Animoca Brands’ commitment to supporting the Core network’s security and decentralisation.

SKALE’s ‘Pacifica V3’ Upgrade

SKALE, a gas-less EVM-compatible modular blockchain network, launched the Pacifica V3 upgrade, which significantly enhances transaction throughput and block mining speed.

Anomaly’s Funding and Google Program Inclusion

Anomaly secured a spot in the Google for Startups Cloud Program and raised $1.45 million in pre-seed funding. The company aims to enhance blockchain gaming UX with account abstraction and AI-powered SDK for mini-game creation and deployment.

In conclusion, the Plume Network Testnet Launch and other significant announcements in the blockchain space from July 11 to July 17 showcase the industry’s continuous innovation and growth. Bringing real-world assets into the blockchain world shows an advancement in digital identity management. It also proves the growth of DeFi Protocols and shows the dynamic nature of the blockchain ecosystem. All these innovations and upgrades have set the way for the mass adoption of coins like Bitcoin (BTC) and Ethereum (ETH). The BIT Journal provides updates on how the crypto world is evolving. Stay tuned!