Introduction
Last week witnessed significant developments in the global blockchain ecosystem. Among the highlights:
- The community revealed plans to revive Telegram's abandoned blockchain project, TON.
- Decentralized lending protocol Compound announced the distribution of its governance token, COMP, starting mid-June.
- Leading projects like Cardano and Filecoin shared critical roadmap updates.
Below is a detailed breakdown of key project advancements and funding activities:
Key Project Updates
TON Blockchain Set for Community-Led Relaunch
TONCommunity.org has formally announced plans to reboot the TON blockchain after Telegram's official discontinuation. Key points:
- Testnet Phase: Initial focus on launching TON Blockchain testnet to onboard nodes and developers.
- Governance Model: New network rules will be designed collaboratively to reflect current needs.
- Founding Members: Includes Gram 50 wallet, Nebula Telegram client, NG Wallet, Lambda Storage, and TON's Chinese community.
"Pessimists are often right, but optimists drive success." — TON Community Manifesto
Cardano's Shelley Upgrade Timeline
- July 29: Target launch date for Shelley mainnet, introducing PoS consensus.
- August 18: Staking rewards for ADA holders to commence.
Test Phases:
- June 23: Shelley mainnet candidate release
- June 30: Final code deployment
Compound's COMP Token Distribution
- June 15: Initial COMP token distribution begins.
Allocation:
- 42.3% (4.23M COMP) reserved in a smart contract, releasing 2,880 COMP daily over four years.
- Daily rewards split equally between lenders and borrowers.
- Governance: Proposals require 1% COMP token holder support to trigger votes.
Filecoin Mainnet On Track
- No Delays: July launch confirmed; NSE (Non-Subspace Efficiency) postponed post-launch.
- Testnet Incentives: 1M FIL rewards for storage providers during three-week test period.
- Validation Standards: Geographically dispersed verifiers with capped participation.
Other Notable Updates
- Curve Finance: Governance token launch imminent for liquidity providers since January 2020.
- Band Protocol: Mainnet Phase 0 ("Wenchang") launches June 10.
- Zcash: Heartwood upgrade activates mid-July, enabling shielded mining rewards.
Funding Roundup (May 25–31)
| Company | Amount Raised | Lead Investor(s) | Key Highlights |
|---|---|---|---|
| Magic (Fortmatic) | $4M | Placeholder | Ethereum wallet infrastructure upgrade. |
| CasperLabs | Undisclosed | Draper Goren Holm | PoS protocol development funding. |
| Floating Point Group | $2M | Naval Ravikant, AngelList | Crypto trading platform expansion. |
| Omniex | $14M | SIX Group | Institutional crypto tools development. |
| CoinDCX | $2.5M | Polychain Capital | Coinbase Ventures' first India investment. |
FAQ Section
Q: How can I participate in TON's testnet?
A: Developers and node operators can join via TONCommunity.org.
Q: What’s the APY for Compound’s COMP rewards?
A: Rates vary based on asset activity; dynamic calculations apply.
Q: Will Filecoin’s testnet rewards convert to mainnet FIL?
A: Yes, earned FIL during testing will transfer to mainnet wallets post-launch.
👉 Explore decentralized finance opportunities with leading protocols like Compound and Curve.
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