BitDAO launches $200M zkDAO to advance Ethereum scaling via zkSync

BitDAO launches $200M zkDAO to advance Ethereum scaling via zkSync

As outlined by its creators, zkDAO will be community-driven and is currently seeking contributors. On Thursday, a proposal to fund decentralized autonomous organization zkDAO passed via treasury protocol BitDAO with close to 200 million votes cast. The proposal was authored by Matter Labs — the organization behind Ethereum scaling protocol zkSync — and Mirana Ventures.Utilizing zk-Rollups, zkSync and its family of technologies will build layer-2 infrastructure capable of returning succinct proofs to the Ethereum network without sending the entire data. The result, if implemented, would....


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Bybit donates $134M to BitDAO and integrates Arbitrum

Bybit puts its money and faith in BitDAO and pledges recurring contributions now that its integration with the L2 Arbitrum network is complete. The news about crypto derivatives exchange Bybit was two-fold Thursday, as the company announced via Twitter its $134 million contribution to the BitDAO Treasury in the form of Ether (ETH), Tether (USDT) and USD Coin (USDC), as well as the completion of the integration of Ethereum layer-2 solution Arbitrum.Currently, BitDAO has one of the largest decentralized treasuries and it recently funded a $200M zkDAO to further build on zkSync and scale....

Zksync Devs Plan to Launch Layer 3 Scaling Solution Called ‘Opportunity’ in Q...

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Ethereum-scaling protocol zkSync’s layer-3 prototype set for testing in 2023

Matter Labs chief product officer Steve Newcomb emphasized to Cointelegraph that the launch of its L3 prototype will significantly improve the performance of its L2 solution. A new layer-3 (L3) prototype aimed at further solving Ethereum’s scalability issues is set to be deployed for testing as soon as Q1 2023.zkSync, a provider of zero-knowledge blockchain solutions on Oct. 10 announced it is aiming to deploy a new EVM-compatible layer-3 prototype called “Pathfinder” on testnet early next year. zkSync is a L2 Ethereum scaling protocol designed to bring down network usage costs. It....

BitDAO Community Targets Almeda For Allegedly Dumping BIT Tokens

The BitDAO community is one of the most recognized decentralized autonomous organizations – known as DAOs. BitDAO carries out its operations by allocating funds to ensure the constant development of the decentralized finance (DeFi) sector. BitDAO achieves this objective through unwavering support to the DeFi projects and partners. They’re also committed to providing funds to […]

Matter Labs raises $50M to build EVM-compatible zk-rollups

The funding will be used to further develop zkSync v2, which is currently live on testnet. Matter Labs has announced a major new funding round to further develop the second version of its Ethereum-based rollups, zkSync.On Nov. 9, Matter Labs announced it had secured $50 million in a Series B round led by Andreessen Horowitz and included participation from existing investors Placeholder and Dragonfly Capital. The new round follows Matter Labs’ $6 million Series A in February, and saw participation from many new investors including Crypto.com, ConsenSys, and OKEx.The new cash injection will....