Protocol Village: DeFi Protocol Synthetix V3 Expands to Arbitrum

In today’s edition: Arbitrum, Synthetix, FLock.io, Aptos Foundation, Raise, BitGPT, D3 Global, Identity Digital, Variational, Uniswap Labs, Mantra, Stokr, Sygnum Bank, Rocketon, Across, BlockFills, GOAT Network.

Thursday, Oct. 24

Arbitrum Developer Unveils ‘Fast Withdrawals,’ Cutting Finality to 15 Minutes From 7 Days

Offchain Labs, the initial developer of Arbitrum, the biggest Ethereum layer-2 network, announced “Fast Withdrawals” – described as “a new feature allowing select Orbit chains and RaaS providers to achieve withdrawal finality in under 15 minutes, compared to the usual wait time of up to seven days.” According to the team: “Implementing Fast Withdrawals cuts withdrawal times by over 90%, making the process extremely similar to withdrawing funds from a bank account. Although it is not identical, it represents a substantial improvement over the traditional blockchain standard, bringing it much closer to the experience of conventional TradFi funds transfer.” According to a press release, “Orbit chains that plan future support for the new feature include Apechain, Cheese, Nova, Sanko, Xai and others. RaaS providers include Offchain Labs, Alchemy, Altlayer, Ankr, Caldera, Conduit, and Gelato.” Here’s how it works, according to the press release:

To streamline the process, Fast Withdrawals on Orbit chains have their transactions processed by a committee of validators. Transactions with a unanimous vote across the committee will have their state transition immediately confirmed. This allows Orbit chains and user withdrawals to achieve a fast confirmation frequency within fifteen minutes. Fast Withdrawals enhance cross-chain communication by allowing cross-chain applications to read the finalized state up to the fast confirmation frequency. Previously, optimistic rollups had to sustain a multi-day challenge period to allow time for fraud proofs, making this launch a big upgrade over prior existing models.

DeFi Protocol Synthetix V3 Expands to Arbitrum

DeFi protocol Synthetix V3 is expanding to Arbitrum, “representing a big step in its push to go multi-chain,” according to the team: “With this launch, Synthetix is set to deliver high-performance perpetuals trading to Arbitrum users, building upon its proven success on Optimism and Base, where it has facilitated over $50 billion in trading volume. Kwenta, the leading perpetuals marketplace, has teamed up with Synthetix to spearhead the launch of Synthetix V3 on Arbitrum.”

Decentralized AI Model-Training Platform FLock.io Partners With Aptos Foundation for Coding in Move

FLock.io, a decentralized AI model-training platform, has “partnered with the Aptos Foundation to elevate the capability of large language models (LLMs) in generating accurate code for the Move programming language on the Aptos network,” according to the team: “The initial version of FLock.io’s Aptos Move-tuned LLM demonstrated superior performance in testing compared to ChatGPT-4o – from simple “Hello World” scripts to more complex programs such as yield tokenization with AMM trading functionality. Additionally, the FLock model exhibited greater accuracy and adherence to Aptos-specific requirements.

Raise, Retail Alliance Foundation Launch Support Network to Help Bring Gift Cards On-Chain

Raise, a payments provider focused on gift cards, announced that a non-profit coalition called the Retail Alliance Foundation has launched, “committed to reshaping the future of a transparent and equitable gift card and loyalty economy.” In partnership with BFG Labs, a wholly owned subsidiary of Raise, the foundation will launch and govern the Retail Alliance Network, which aims to bring the multi-trillion-dollar gift card industry on-chain. According to the team: “The network offers brands greater control, security and transparency over their gift cards by using blockchain to combat fraud, cut costs and improve operations. This marks a key moment where blockchain addresses legacy inefficiencies, unlocking new growth and engagement opportunities.”

Domain Network D3 Global Partners With Identity Digital to Tokenize Domains

D3 Global, a next-gen internet infrastructure company developing the first authoritative domain network, on Wednesday announced a strategic registry partnership with Identity Digital, a leader in connecting the online world with domain names and related technologies. The partnership aims to tokenize new domains for billions of users on the Domain Name System (DNS) to deliver interoperability Web2 and Web3. D3 is also launching two new programs to expand the ecosystem, the D3 Developer Program and the D3 Proof of Ownership Protocol Program, which will support efforts to bridge Web2 and Web3 systems.”

BitGPT, Project From Former SingularityNET Co-Founders, to Unveil AI Platform at Binance Conference

BitGPT will be unveiling its groundbreaking AI platform to onboard the next billion users to Web3, in an announcement at this year’s Binance Blockchain Conference. According to the team: “Developed by the co-founders of SingularityNET, the first to merge Web3 and AI in 2017, BitGPT is the world’s first AI network for Web3, placing AI agents directly into user’s pockets. By translating user needs into Web3 transactions – regardless of language or literacy – BitGPT simplifies complex wallet operations into a single prompt and interface, bridging Generative AI with Web3’s onboarding challenges.”

Variational, Protocol for Leveraged P2P Trading of Customizable Crypto Derivatives, Raises $10.3M

Variational, a protocol enabling leveraged peer-to-peer trading for customizable crypto derivatives, announced Wednesday it has secured $10.3 million in seed funding. The round was co-led by Bain Capital Crypto and Peak XV Partners (FKA Sequoia India) with support from Coinbase Ventures, Dragonfly Capital, North Island Ventures, HackVC, Brevan Howard, and many other VCs, angel investors, and industry leaders.

Uniswap Labs Collaborates With Across to Lay Groundwork for Crosschain Swaps

Uniswap Labs has integrated Across’s intent-based bridging to enable secure, fast transfers of ETH, stablecoins and WBTC across nine chains – all within the Uniswap app. According to the team: “Doing so, Uniswap Labs and Across are laying the groundwork for any-asset to any-asset swapping. The upcoming ERC-7683 standard, co-authored by Uniswap Labs and Across, will further help unify the Ethereum ecosystem by standardizing how cross-chain interactions are expressed as Intents.”

Mantra, L1 Chain for Tokenized RWAs, Launches Mainnet

Mantra, an institutional-grade layer 1 blockchain for tokenized real-world assets (RWAs), announced the official launch of its mainnet. According to the team: “As a purpose-built layer-1 blockchain specifically designed to integrate traditional finance with blockchain technology, the Mantra Chain mainnet aims to quickly become the preferred ledger of record for RWAs. The Mantra Chain mainnet consists of a customizable suite of tools that is built with reliable network security and regulatory compliance at heart.”

Stokr, EU-Based Digital-Asset Marketplace, Raises €7.4M ($8M)

Stokr, a digital-asset marketplace in the EU, has raised €7.4M ($8 million) in a funding round led by Fulgur Ventures, with a significant portion earmarked to establish one of Europe’s first corporate Bitcoin treasuries. According to the team: “Stokr also plans to expand its tokenized Bitcoin asset offerings on layer-2 technologies like the Liquid Network and transition to a regulated Crypto Asset Service Provider under MiCA.”

Sygnum Bank Opens New Office in Lugano, Plans ‘Bitcoin Competence Centre’

Sygnum Bank announced the launch of its new office in Lugano, Switzerland. According to the team: “The office will be a hub for expert Bitcoin banking solutions and improve physical interactions between Sygnum and its local clients and partners. Sygnum will also launch the first global Bitcoin Competence Centre. This strategic initiative, timed with the prestigious Plan B Forum event, focuses on research alongside strategic partnerships, innovative product and technology development, and active community engagement.”

Rocketon Labs Raises $1.2M for Firecoin, ‘Flagship AI-Powered Token Insights Platform’

Rocketon Labs has raised $1.2 million for Firecoin, its flagship AI-powered token insights platform on the Telegram Open Network (TON). According to the team: “With over 3 million users and recognized as the ‘CoinGecko for TON, on steroids,’ Firecoin democratizes access to crypto trading, empowering everyday users with essential tools for informed decisions. The funding will enable further development and expansion of the platform.”

BlockFills, Institutional Crypto Trading and Tech Firm, Hires Amy Shelly as CFO

BlockFills, a digital-asset technology and trading firm for institutions and professional traders, has appointed Amy Shelly as chief financial officer (CFO). According to the team: “The firm is preparing to launch international offices, expand the BlockFills product offering and position itself for major growth in the institutional digital assets space. Shelly has 30+ years of financial services management experience, including six years as CFO for the Options Clearing Corporation (OCC), the world’s largest equity derivatives clearing organization. A licensed CPA, Shelly has garnered numerous recognitions.” Separately, founding partner Neil Van Huis was promoted to chief strategy officer.

GOAT Network Launches ‘Founders Club’ for Collaborators, Says Testnet Live for Builders, Developers

GOAT Network announced the launch of Founders Club, a program designed to empower individuals and teams to contribute to the development and growth of GOAT Network. According to the team: “Founders will have the opportunity to participate in key tracks, collaborate on projects and become valued members of the GOAT ecosystem. Members can choose between three distinct tracks tailored to different stages of project development, from ideation to adoption. In addition, GOAT Network’s testnet is now live for builders and developers.”

Protocol Village is a regular feature of The Protocol, our weekly newsletter exploring the tech behind crypto, one block at a time. Sign up here to get it in your inbox every Wednesday. Project teams can submit updates here. For previous versions of Protocol Village, please go here.