Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Azuro Protocol Partners With zkSync Hyperchain Sophon

Cryptonews2024/05/30 15:19
By:Tanzeel Akhtar

Azuro, a decentralized autonomous organization (DAO) building a protocol for blockchain-based predictions, has partnered with hyperchain Sophon to improve its prediction app development by combining technologies.

Both Azuro and Sophon plan to launch a co-sponsored grant program to support and accelerate the adoption of Sophon-run zkSync’s Hyperchain, and Azuro-built prediction apps.

Following the partnership announcement Azuro protocol said liquidity providers for the AZUR/ETH pair on decentralized exchanges will receive a $SOPH token airdrop. The firms are preparing for the launches of their tokens $AZUR and $SOPH, later this year.

Funding Secured


In April, Azuro raised $11 million with investment from SevenX Ventures and Arrington Capital. Other participants in the funding round include Fenbushi Capital, Polymorphic Capital, Red Beard Ventures, Dewhales, and G1 Ventures.

The funding is being used to further accelerate ecosystem development during this critical phase of expansion and to intensify marketing efforts in the decentralized prediction market space.

Around 26 applications use Azuro to run an on-chain prediction market, with transaction volumes at $340 million.

In the first quarter of this year, Sophon raised $10 million in a seed funding round led by Paper Ventures and Maven 11, with participation from Spartan Group, SevenX Ventures, OKX Ventures and others.

In April, Sophon completed a node sale, raising ~21,000 ETH. Azuro said as part of the new partnership deal it joins Sophon’s other infrastructure partners, including zkSync and Beam.

VC Funding Surges 2024


Venture capital funding in the Web3, gaming, AI and crypto space has experienced a surge in the first quarter of 2024, breaking a two-year downtrend.

Both the total amount invested and the number of projects receiving VC funding have seen substantial increases since Q4 2023, according to data gathered by crypto analysis platform Crypto Koryo.

Follow Us on Google News
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

You may also like

The Daily: Germany dumps another $339 million in bitcoin, Doja Cat token collapses following hack, and more

Quick Take The German government continues bitcoin selling spree and less than half of its holdings remain. PayPal’s stablecoin has surpassed a $500 million market cap following Solana expansion. Paxful co-founder faces five years in prison after guilty plea in AML case. The following is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

The Block2024/07/09 22:52

Ethereum Price Surges as Market Anticipates ETF Listing, Will ETH Reach $10,000?

Newscrypto2024/07/09 22:01

Former Valkyrie CEO Leah Wald steps up at crypto investment firm Cypherpunk Holdings

Quick Take While at Valkyrie, Wald was instrumental in spinning up several crypto investment products, including the first bitcoin futures ETF. Wald is stepping up as Cypherpunk Holdings’ chief executive after serving three years on the firm’s board.

The Block2024/07/09 22:01

Mining company TeraWulf pays off outstanding debt early

Cointelegraph2024/07/09 21:25

‌Spot copy trading

More
AIOnline
AIOnline
insight999/1000
10021.3%
ROI
Total profit $51108.61
WhaleGo_YouTube
WhaleGo_YouTube
insight500/500
1335.24%
ROI
Total profit $3877.04

Bot copy trading

More
Morgee
Morgee
insight80/150
$16485.01
Total profit
Total subscriber profits $-226.44
GoldenEgg
GoldenEgg
insight148/150
$3228.53
Total profit
Total subscriber profits $-284.87