Polygon Labs, the developer company behind Polygon (MATIC Coin), will lay off staff. Ethereum infrastructure project Delegate is launching a naming protocol called Clusters today in collaboration with LayerZero. Aevo has deployed a smart contract for a native token. Also, the team gave the good news of airdrop. And more!
There is news from Aevo, MATIC Coin and these 3 cryptos…
Polygon Labs (MATIC Coin) is going for personnel reduction!
Polygon Labs, the developer behind layer-2 aggregation network Polygon (MATIC Coin), is cutting 60 positions, accounting for about 19% of its staff, the company said in a blog post on Thursday. The Ethereum-focused developer company attributes the layoffs to more efficient working rather than financial reasons. According to the statement, the downsizing is happening “for improved performance rather than financial reasons.” The company also shared that the team behind Polygon ID will be leaving the company in the coming months.
For those not affected by layoffs, Polygon (MATIC Coin) stated that they will receive at least a 15% increase in their total compensation. He also said that they will eliminate geographical payment models. The new round of reductions comes less than a year after downsizing in February 2023, when Polygon laid off 20% of its staff as part of a restructuring.
Delegate to launch ‘Clusters’ protocol in collaboration with LayerZero
Ethereum infrastructure project Delegate is launching a Blockchain-based naming protocol called Clusters today, in collaboration with interoperability platform LayerZero. Domain name services match complex Blockchain addresses with human-readable names. Ethereum Name Service is the best example of this. ENS uses an integration with oracle provider Chainlink. Thus, it allows registering addresses from other Blockchains. Additionally, data continues to be stored in Ethereum as a single point of truth.
Delegate’s alternative seeks to bring this type of ledger natively to multiple Blockchains, including Ethereum, Solana, other EVM-based Blockchains, and later Bitcoin. “Clusters is a cross-chain, multi-wallet naming protocol that addresses issues such as address fragmentation, wallet management complexity, and space occupation,” LayerZero wrote in a Medium post. It serves as a unified identity layer. Thus, it allows users to maintain a consistent identity across multiple Blockchains. It’s a very similar method to what ENS does. But for many Blockchains, it does so natively.” said.
Aevo plans airdrop for early adopters
Derivatives trading protocol Aevo has deployed a smart contract for a native token. The project is preparing to launch this token in the coming weeks. The team said it plans to distribute some of the supply via an airdrop to early adopters. Eligibility to receive Aevo tokens extends to users who have engaged with the platform prior to today’s announcement. However, the team is yet to reveal the allocation specifications.
Aevo targets users who contribute to the trading volume on its platform. Thus, it aims to additionally reward trading activities. The protocol is preparing to launch a “farming program” in the next few days where it will distribute rewards in the form of Aevo tokens. The project said, “We will airdrop Aevo to early adopters of the Aevo exchange. We will launch our first farming program in the coming weeks. Clearly, all Aevo users who have volumed up to this point will be eligible for Aevo.” said.
Jupiter recorded approximately $1.4 billion in daily volume
Solana DEX aggregator Jupiter (JUP) reached a record trading volume in the last 24 hours. In this regard, Jupiter recorded a transaction volume of 1.38 billion dollars. This figure is more than double the daily trading volume that Jupiter has seen in recent days. It also makes it the best DEX platform in the last 24 hours. cryptokoin.comAs you followed from , there was the highly anticipated Jupiter token launch and airdrop yesterday. Thanks to this, activity on the Solana network has seen a significant increase. Web3 wallet Phantom stated that it has never seen these levels of traffic before. He also noted that it was three times the total traffic volume he saw following the recent WEN meme coin launch.
Crypto startup Velar raised $3.5 million in funding.
Velar has closed a $3.5 million funding round with participation from Bitcoin Startup Lab, CMS Holdings, Black Edge Capital, GBV, Cypher Capital, Trust Machines SPV, Transform Capital, Maple Block and Samara Asset Group. The startup plans to create a set of DeFi tools for the Bitcoin DeFi scene. It is also preparing to launch the first permanent futures contract trading platform based on the Bitcoin network.
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