DEX aggregation platform Flood has closed a $5.2 million seed funding round. Merlin Chain has launched its main-net staking event called Merlin’s Seal. DeFi project Frax has released the Ethereum Layer 2 network Fraxtal. Binance has released an important announcement for the crypto community. And more!
There is hot news from Binance, Ethereum, Bitcoin and the market…
Flood completed $5.2 million in funding
Ethereum network DEX aggregation platform Flood has closed a $5.2 million seed funding round led by Bain Capital Crypto and Archetype, with participation from Robot Ventures. Flood co-founder and CEO Francesco announced that the funding round closed in summer 2023. He also stated that it was structured as an equity financing with token warrants. However, he refused to comment on the valuation.
Merlin Chain TVL exceeded $18.7 million in a short time
Bitcoin native Layer-2 network Merlin Chain has launched its main-net staking event called Merlin’s Seal. Within the first hour after the opening of the event, on-chain asset staking value TVL exceeded $18.7 million. This number continues to increase. Merlin’s Seal supports participation in 14 Bitcoin native assets, as well as Ethereum, stablecoins, and other assets. Additionally, Merlin Chain is expected to distribute 20% of its governance token, MERL. This is the most rewarding Layer-2 staking activity in history. Additionally, it supports the widest range of Bitcoin native assets.
Ethereum, Dencun upgrade to launch on mainnet on March 13
EthHub co-founder Anthony Sassano (sassal.eth) made a statement on social media. Sassano announced that the Ethereum Dencun upgrade will be released on mainnet on March 13. Developers have confirmed the Dencun upgrade time as March 13 at 21:55 (block height 8626176).
Grayscale transferred 1,500 BTC to a Coinbase Prime
According to Arkham’s data, on February 8, Grayscale transferred 1,500.6 BTC, worth approximately $67.7 million, to an address on Coinbase Prime Deposit. He transferred the other 2,276.6 BTC to a new address. This is likely a new storage address for Grayscale.
Crypto yield marketplace Superform raises $6.5 million in funding
Superform Labs, a crypto startup founded by two former BlockTower Capital investors and a former Microsoft product manager, has raised $6.5 million in seed and angel funding rounds. Polychain Capital, BlockTower Capital, Maven 11, Circle Ventures and other firms led the seed round, Superform announced Wednesday. Angel investors in the round included Arthur Hayes, Marc Bhargava, Avi Felman, Michael Bucella and Bryan Pellegrino.
Superform co-founder Blake Richardson stated that the seed round closed in November 2022. But he said he was waiting to announce it along with the launch of Superform’s marketplace in early access mode. Richardson also noted that the round was structured as equity with token warrants. On the other hand, he did not comment on the valuation.
Frax launches Layer-2 network Fraxtal with partner applications
DeFi project Frax has released the Ethereum Layer 2 network Fraxtal. Enabled a restricted mainnet for select partner applications today. Fraxtal works as an Ethereum compatible optimistic rollup developed using OP Stack. It will be part of Optimism’s Superchain ecosystem along with Coinbase-backed Base. Fraxtal is currently limited to launch partners including Safe, Chainlink oracles, and decentralized infrastructure providers like Axelar and LayerZero bridges.
Binance releases an important announcement for the crypto community
Binance, the world’s largest crypto exchange, released an important announcement for the crypto community. In an official blog post published on Thursday, Binance announced that B-token withdrawals on the BNB Beacon Chain (BEP2) Network have been suspended, effective immediately. This is because the BNB Beacon Chain (BEP2) network will sunset in the next few months. B-Tokens are the Binance exchange’s official name for a set of fully collateralized wrapped tokens that offer a portable version of an original asset on a different blockchain.
Just like wrapped tokens on Ethereum, users can wrap Bitcoin and other cryptos for use on the BNB Blockchain. Binance Bridge allows users to wrap their crypto assets (BTC, ETH, XRP, USDT, BCH, DOT and many more) into BEP-20 tokens for use on BNB Chain.
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