Untangled Finance, a marketplace for tokenized real-world assets or RWAs, went live on the carbon-neutral Celo network on Tuesday. The marketplace has also been extended to the Ethereum and Polygon networks. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Untangled Finance launches on the Celo blockchain
📍Untangled Finance is a lending platform for real-world tokenized assets which allows users to access credit based on traditional financial assets on the blockchain. The platform went live on Tuesday on the Celo network and has since been extended to the Ethereum and Polygon Networks, becoming a multichain protocol.
In an interview with CoinDesk, Manrui Tang, one of the co-founders of Untangled Finance, noted that this platform aims to integrate the traditional private credit market into the blockchain ecosystem. Its main focus will be fintech lending, allowing users to deposit funds to lend and earn a return through tokenization.
Yuga Labs restructures for Web3
📍The company behind Bored Ape, Yuga Labs, has unveiled a restructuring plan to pursue new goals. Yuga Labs is recognized as one of the leading companies in the NFT market, mainly for the development of the successful Bored Ape Yacht Club (BAYC) crypto collection, which has generated a trading volume of more than $ 2.000 million since the launch of its 10.000 non-fungible avatars.
However, through X, the creators of this company announced a restructuring plan that will allow it to “evolve as an organization.”
At publication, Yuga Labs commented that the restructuring plan will allow it to better focus on its core priorities and is necessary to help realize its mission of building a Web3 culture on the blockchain. Daniel Alegre, CEO of Yuga Labs, stressed that the company will bet everything on its Otherside strategy, the company's gamified metaverse that spans video games, entertainment experiences, interactive social connections and more.
Solana price revives investors
📍Over the past month, Solana's price has risen by more than 21%, attracting investors again. According to CoinShares data, Solana-based investment products have seen the largest inflows since last year, making SOL the preferred altcoin for investors.
In its 152nd Digital Asset Fund Flows Weekly Report, CoinShares noted that SOL-based investment products have seen their biggest week since March last year in terms of inflows. Inflows into investment products in the Solana network’s native cryptocurrency amounted to $24 million, the platform said.
This figure represents just over 30% of the total inflows recorded by cryptocurrency-based investment products, which accumulated $78 million in the week.
Last week, cryptocurrency-based investment products registered tickets totaling $21 million, the first tickets in nearly two months.
IoTeX brings confidential computing to your hardware stack
📍IoTeX has partnered with ARM Research to develop a new hardware stack that integrates confidential computing. IoTeX Developers reported that the collaboration with ARM Research will allow confidential computing to be integrated into the DePIN stack with the aim of bringing privacy to the real world.
In their blog, the developers of the protocol focused on empowering the open economy for machines explained that confidential computing integrated into their DePIN stack will allow sharing valuable information without exposing sensitive data.
The developers commented that the DePIN stack requires confidential computing in the same way that cars need windshields. In this way, “devices can pool their data to generate system-wide insights without revealing private information,” resulting in a high level of privacy and security.
Continue reading: BitVM, a proposal for Turing Complete smart contracts for Bitcoin
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