Immunefi released their “Crypto losses in Q2 2020 report” on June 27, showing a loss $572 million due to hacks and rug-pulls during Q2 of 2024. This is an 112% increase over the same period in 2023. The team stated that the losses totaled over $920 millions year-to date, with the largest monthly loss of $358 million in May 2024. CeFi, at 70% of total losses in Q2, was the primary target for successful exploits.

Tezos, the Smart-Contract blockchain of ICO fame, Reveals a ‘X” Roadmap Featuring a ‘Canonical Roll’

The Tezos developers have unveiled ” TezosX “, a set technological upgrades that they claim could provide a “huge increase in performance, composability, and interoperability.” roadmap outlines a two-year development plan. It calls for a separation of transaction execution and a “canonical rolling up” to support “atomic transactions between smart contracts written using different programming languages.” The Tezos main blockchain would be used as the base layer for settlement and consensus. (XTZ)

REDACTED, Building Web3 ‘Entertainment Datasphere,’ Raises $10M

REDACTED has raised $10M in funding. The funding was led by Spartan Group, with Saison Capital, Animoca Brands and Polygon Ventures Web3 founding partners, VCs and angel investors, as well as whales such Dingaling, Grail and ‘s team.

The SCrypt Web3 Development Platform Launches a Tool Kit for UTXO Blockchains

SCrypt announced on June 27 the launch of a toolkit for developers to create Unspent Transaction Output blockchains. The team said: “UTXO, or Unspent Transaction Output (UTXO), is the method that the Bitcoin protocol uses for tracking balances when they move from digital wallet to digital wallet. The UTXO is a model that maintains the integrity and security of blockchain networks, and it solves the problem of double-spend ….. Xiaohui Liu said: “Historically, Web3 apps have been largely developed on account-based Blockchains such as Ethereum and Solana. Ordinals are bringing renewed interest to Bitcoin and UTXO Blockchains. The sCrypt Platform provides developers with comprehensive tools such as Software Development Kits and Application Programming Interfaces that enable them to integrate UTXO Blockchains seamlessly into their applications. The platform will also integrate a vast ecosystem of JavaScript/TypeScript developers, estimated at 13 million globally.”

Rebar Labs raises $2.9M for “MEV-Aware Infrastructure”.

Rebar Labs has raised $2.9M in seed funding. According to the team, “Led and funded by 6th Man Ventures with ParaFi Capital, Arca and Moonrock Capital as well as UTXO Management the company aims at addressing MEV challenges within Bitcoin’s growing ecosystem. MEV strategies, similar to the early Ethereum DeFi, are emerging on Bitcoin as new protocols such as BRC-20s (Blockchain Reverse Cryptography 20s), Runes (Blockchain Reverse Cryptography Runes), L2s (Local 2s) and Rollups appear. Rebar Labs develops solutions to improve the user experience in the Bitcoin ecosystem, such as enabling efficient markets, ensuring fair value distribution and enhancing miner and user experiences.

BVNK launches ‘Layer1,’ Self-Custody infrastructure for Stablecoin payments

BVNK launched Layer1 on June 27, a self custody infrastructure for stablecoin payment. According to the team, “Layer1 simplifies the blockchain payment infrastructure, by handling wallet management, asset management, reconciliation, and third-party integratons. Self-custody allows businesses to integrate digital assets payments in just a few weeks with less than 200 lines of code.

Avalanche Launches Chainlink Data Streams, Used by Decentralized Perps Exchange GMX

June 27: Data Streams have officially launched on Avalanche. GMX is a launch member using Data Streams for its decentralized perpetual currency exchange. According to the team, “By supplying market data at high frequency using robust decentralized infrastructure, Data Streams enables DeFi products to provide a seamless experience comparable with CEXs, while providing unparalleled on-chain execution speeds and battle-tested cybersecurity infrastructure.” (LINK)

Validator Infrastructure Provider SSV extends incentive-based Mainnet program through December

After a successful decentralized governance voting, SSV Network, the provider of validator infrastructure, has revised their incentivized Mainnet Program (IMP). According to the team, “Key updates include the extension of the program until December 2024 and restructuring reward tiers. SAFE multisig wallets are excluded from eligibility.” The new tiered reward system provides significant APR boosts for early validators to enhance incentives for participation. The revisions are designed to maximize rewards, promote validator engagement and correct previous program limitations.

Cobo launches a ‘Portal for Business’, featuring ‘All-in One Wallet Platform.

Cobo is a provider of crypto custody and wallets infrastructure. According to the team, “Cobo Portal” was launched on June 27, a platform that allows businesses to create a wallet infrastructure with high scalability and manage digital assets in a seamless manner. The features include: All-in one wallet platform including Custodial Wallets (MPC Wallets), Smart Contract Wallets and Exchange Wallets. 2. Advanced Risk Control – customizable user roles, on and off-chain transactions policies, governance rules, workflow approvals. 3. “Seamless Development Environment – documentation and support for all popular programming language, blockchain developers are able to quickly integrate Cobo’s WaaS APIs & SDKs.”

Dfinity Foundation Launches UTOPIA for ‘Sensitive Industries’ like Defense with ‘On Chain Serverless Clouds.’

DFINITY Foundation has announced that UTOPIA is a project aimed at solving the $10 trillion global cyber security problem through serverless cloud computing on the blockchain. This technology offers unprecedented operational resilience and safety. According to the team, this tech is vital for high-risk and sensitive sectors like defense, utilities, and financial services. It ensures unbreakable security, and 100% digital autonomy.

Wanchain launches Token Bridge to Polkadot Relay chain as part of its Interoperability project

Wanchain a layer-1 Proof-of-Stake blockchain focused primarily on interoperability has launched a token-bridge between the Polkadot blockchain network and the Cardano network. According to the team “Despite the clamor about the need for such a bridge, Wanchain was the first to connect Polkadot with Cardano. Accessible from the Wanchain Bridge Web Portal. Temujin Louise, CEO of Wanchain said that Wanchain believes interoperability is needed between all networks and not just EVMs. This initial implementation is expected to lead to other developments such as cross-chain functions between two non EVM networks. (ADA) (DOT)

Theta Network expands EdgeCloud Computing Platform

Theta network expands its EdgeCloud computing platforms, , according to team. “The new Elite Booster features empowers users earn TFUEL tokens and partner TNT-20 for performing GPU AI tasks. According to the team, Theta EdgeCloud’s first hybrid computing platform is for AI, video, and rendering applications. Theta’s EdgeNet is powered by its 30,000+ edge nodes, and cloud partners such as Google Cloud and Amazon Web Services. The decentralized mesh offers more than 80 PetaFLOPS in always-available distributed GPU computing power.

Worldcoin and Alchemy to Partner on Infrastructure for a New World Chain

According to the team, World Chain developers can now have access to an extensive Web3 developer platform, including core and data APIs as well as indexing solutions, and other tools required by developers for their apps. Alchemy also plans to integrate World ID as part of its Web3 infrastructure and will promote it. This will give millions of developers access to World ID.

Rarimo’s Worldcoin alternative RariMe goes live

Rarimo announced Thursday that on June 27, Rarimo unveiled RariMe. This is a competitor of Worldcoin and an app which allows users to create passport zero-knowledge (ZK) proofs verifying their uniqueness, without disclosing their identity. Rarimo scans passports using smartphones, unlike Worldcoin that uses orbs for scanning eyeballs. ZKs are used to ensure that no personal information is shared when verifying identity. Identify frameworks typically require a third-party to approve credentials.

Superchain Network and Anyone Protocol Form a Partnership for Privacy Management

Superchain Network has joined forces with Anyone Protocol to revolutionize privacy in decentralized environments. According to the team, “Using Anyone Protocol’s DePIN Network Anon and Superchain Network’s useable data ensures unprecedented security, privacy and speed.” It addresses privacy concerns in the crypto-space, where data providers are exposing clients to metadata logging, inference, and other risks.

The Protocol is our weekly newsletter that explores the technology behind crypto one block at a. time. Subscribe here to receive it every Wednesday. Updates can be submitted by project teams here. Please click here to view previous versions of Protocol Village. Please also check out The Protocol, our weekly podcast.

Bradley Keoun is the editor.