Web3 Weekly Pulse: 23rd to 29th Oct

Greetings, Web3 Explorers! 🚀

Welcome aboard another exhilarating chapter of Web3 Weekly Pulse. We're absolutely ecstatic to have you on this thrilling voyage through the ever-evolving realm of Web3 technology.

Buckle up, because we're about to embark on an adventure that will take us through the latest trends, groundbreaking infrastructure developments, and a constellation of exciting events within this dynamic ecosystem.

Our mission? To ensure you stay at the forefront of this transformative tech landscape. So, whether you're sipping your favorite brew or nestled in your coziest corner, get ready for an adrenaline-pumping ride, because we're diving in headfirst! 💫🌐

1️⃣ Circle, the issuer of the USDC stablecoin, has forged a strategic partnership with Taiwanese cryptocurrency exchange BitoGroup and Taiwan FamilyMart to bolster its market presence. Together, they are introducing a "points-to-crypto" service enabling users to transform their FamilyMart loyalty points into cryptocurrencies, including USDC.

Circle partners with Taiwan’s BitoGroup and FamilyMart to expand presence

The USDC issuer said that it’s launching a service to allow customers to redeem their FamilyMart loyalty points for cryptos like USDC.

The BlockTimmy Shen

2️⃣ Web3 games developer Animoca Brands and Saudi Arabia’s NEOM Investment Fund have joined forces to advance Web3 development in the region which is in line with the Saudi Vision 2030 plan. The NEOM megaproject is to invest $50 million in Animoca Brands through a memorandum of understanding (MoU). This investment will be divided, with half of it allocated to convertible notes and the remaining half used to purchase shares on the secondary market.

Saudi’s NEOM partners with Animoca Brands for regional Web3 development

The partnership plans to support Web3 advancements in the Saudi capital of Ridyah and the forthcoming “future society” NEOM.

CointelegraphSavannah Fortis

3️⃣ Hardware wallet manufacturer Ledger is proceeding with the launch of its cloud-based private key recovery solution, Ledger Recover, despite facing substantial backlash from the cryptocurrency community. The service, which is based on identification (ID) for private key recovery in Ledger hardware wallets, is set to debut on October 24th. Ledger has also completed the open-source code for Ledger Recover on GitHub, marking a significant development in this initiative.

Ledger hardware wallet rolls out cloud-based private key recovery tool

Hardware wallet firm Ledger is rolling out its paid and optional private key recovery solution based on user IDs.

CointelegraphHelen Partz

1️⃣ Founded in 2014 under the name AntShares, Neo stands as one of the earliest smart contract platforms. Its origins are traced back to China. Currently, Neo is in the process of developing a sidechain designed to accommodate Ethereum-based decentralized applications (dApps). This development aims to foster interoperability with Neo's N3 mainnet. Anticipated soon is a testnet set to debut by year's end, followed by the official mainnet launch at a later date.

Neo plans Ethereum compatibility via sidechain

Neo is developing a sidechain to support Ethereum-based dapps and ensure interoperability with its N3 mainnet.

The BlockVishal Chawla

2️⃣ The decentralized exchange (DEX) dYdX announced significant importance. It has officially initiated the open-sourcing of its code, a pivotal step in the exchange's version 4 (v4) upgrade. Additionally, this marks the highly anticipated transition of dYdX from its current status as a layer-2 network on the Ethereum blockchain to becoming an independent blockchain operating within the Cosmos ecosystem.

DYdX Trading ships open-source code for version 4 of its Cosmos-based DEX

The principal developer of the decentralized derivatives exchange dYdX has publicly released the open-source code for its upcoming version 4.

The BlockVishal Chawla

3️⃣ Nocturne Labs, a crypto startup with the ambitious goal of introducing private accounts to the Ethereum ecosystem, has successfully secured $6 million in seed funding. The funding round was co-led by Bain Capital Crypto and Polychain Capital, with participation from notable figures like Ethereum's co-founder Vitalik Buterin, as well as Bankless Ventures, Hack VC, Robot Ventures, and several other investors. This significant investment demonstrates a growing interest in enhancing privacy within the Ethereum network.

Vitalik Buterin backs Nocturne, which aims to bring private accounts to Ethereum

Nocturne Labs, a crypto startup that wants to bring private accounts within the Ethereum ecosystem, has raised $6 million in seed funding.

The BlockYogita Khatri

Ethereum

Ethereum’s developers confirm Dencun Upgrade won’t happen before the end of this year. - link

Polygon

POL Contracts went live on Ethereum Mainnet as a part of Polygon 2 - link

BNB Chain

BNB Chain’s opBNB testnet users will need to upgrade to opNode v0.2.0 and opGeth v0.2.0. - link

Arbitrum

Arbitrum is ready for its Orbit Mainnet. - link

Sui

Sui’s Total Value Locked is growing to $70 Million. - link

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