Rhythm Evening News｜A list of important information on May 22

GALA rose more than 20% in 24 hours, temporarily reported at 0.04977 US dollars

BlockBeats news, on May 22, according to OKX market data, GALA briefly pulled up to 0.05 US dollars, and is now quoted at 0.04977 US dollars, with a 24-hour increase of 20.07%

Data: Farcaster’s total number of users exceeds 380,000

BlockBeats news, on May 22, according to Dune data, the total number of users of the decentralized social protocol Farcaster exceeded 380,000. In the past 30 days, users have posted an average of more than 1.24 million casts per day.

Whales Market founder: gm.ai tokens will be airdropped next month

BlockBeats news, on May 22, Whales Market founder dexter said on his social platform that yesterday’s meme coin GMCAT airdrop was proportional. The more users contributed in the pre-sale and or the more xWhales they held, the more GMCAT tokens they would get.

"For GM pre-sellers/gold gmID holders, this is actually a free airdrop in addition to GM next month."

Mocaverse announces MOCA token airdrop details, Moca NFT allocates 10% of the total MOCA

BlockBeats news, on May 22, Animoca Brands' Web3 metaverse project Mocaverse announced the details of the MOCA token airdrop on the social platform.

Moca NFT allocates 10% of the total MOCA supply (i.e. 31.7% of the entire network incentive allocation), of which 1/3 will be unlocked on TGE. The Moca ID airdrop will be launched in two phases. The TGE unlock for "network incentives" has increased from 15% to 20%. The upper limit of the total airdrop amount will be limited by the unlocking of the first two batches of network incentive allocations (the first batch is unlocked by TGE, and the second batch is unlocked by TGE + 1 month). Consider incorporating external communities into airdrop distribution, including but not limited to strategic partnerships and marketing incentives.

Moca NFT holders (circulating NFTs only): 10% of the MOCA supply, users need to hold NFTs at the time of airdrop to be eligible, of which 1/3 is unlocked at TGE; 1/3 is vested weekly after 3 months and completed in 12 months; 1/3 is reserved for Moca NFT for future incentives.

Moca ID holders: The airdrops to Moca ID holders will be executed in two rounds. The airdrop qualifications will have a minimum RP threshold, which will be announced together with the mechanism near the TGE. The more RP a user has, the more MOCA they will earn. RP is a form of proof of participation, and airdrops will be distributed in a non-linear manner based on participation assessments.

Use network incentives: The remaining network incentives (and other network tokens) will be distributed to all participants in accordance with the value-based mechanism of the Moca network: MOCA holders, Moca ID and Moca NFT holders.

Merlin Chain launches Rune Cross-Chain Bridge, supports cross-chain withdrawal of Rune assets to the first layer

BlockBeats news, on May 22, according to official news, Merlin Chain has launched the Rune Cross-Chain Bridge, supporting the free transfer of Rune assets between Merlin Chain (L2) and BTC L1 through UniCross. Currently, DOG•GO•TO•THE•MOON and LOBO•THE•WOLF•PUP are supported, and other Rune assets will be launched one after another.

It is reported that the total transaction volume of the Rune DOG•GO•TO•THE•MOON on Merlin Chain has exceeded 18 million US dollars, and the transaction volume in the past 24 hours has reached 460,000 US dollars, second only to Magic Eden.

Cosmos launches cross-chain auction platform Hydro, designed to efficiently deploy liquidity in the cross-chain ecosystem

BlockBeats news, on May 22, Cosmos announced the launch of the cross-chain auction platform Hydro, which is a bidding and governance platform for efficiently deploying liquidity in the cross-chain ecosystem. It is the core of the "ATOM wars" and a response to the biggest challenge of cross-chain since its inception-token liquidity.

Hydro draws on the "Curve wars" on Ethereum and applies a similar model to enhance governance and strategic liquidity provision. Hydro will enable Cosmos Hub and other projects to take advantage of other projects' demand for adding ATOM and other token liquidity to their systems.

Hydro provides key functions such as token locking, voting rights, bidding rules, voting rules, and fund allocation rules. Native token holders lock their tokens on the platform in exchange for "Hydro Locked Tokens," which grant them influence over funding allocation decisions through a series of periodic auctions.

Projects compete for access to these funds through the governance power of hATOM holders (although Hydro may accept multiple native tokens to lock in the future, the current focus is on ATOM/hATOM). This process operates as an auction market. Fund allocations to projects are temporary (similar to loans), promoting competition and ensuring that resources are allocated to multiple projects over time.

Auctions occur periodically. In each auction round, participating projects detail their funding needs, proposed uses, and the amount they are willing to pay to support hATOM holders. At the end of each round, projects are ranked based on hATOM holder support and funds are allocated accordingly.

Mind Network expands partnership with Zama and launches FHE AI network

BlockBeats news, on May 22, the fully homomorphic encryption (FHE) network Mind Network announced the expansion of its partnership with Zama. Zama is an open source encryption company dedicated to building the most advanced FHE solutions for blockchain and AI.

The collaboration integrates Zama’s cutting-edge Concrete ML solution for confidential ML training and inference into Mind Network’s FHE verification network, setting a new standard for decentralized AI verification.

The extended collaboration with Zama involves leveraging its Concrete ML library into Mind Network’s decentralized FHE verification network to ensure the integrity and privacy of decentralized AI computations. This innovative network will allow AI computations to be performed in a hybrid cryptographic manner, ensuring maximum security for complex machine learning processes while achieving reasonable speeds.

By integrating Zama’s FHE tools, Mind Network is not only enhancing its existing blockchain solutions, but is also one of the first companies to apply FHE in the field of AI.

RWA platform Re launches tokenized reinsurance fund on Avalanche

BlockBeats news, May 22, according to official news, RWA platform Re launched its first tokenized reinsurance fund on Avalanche, and crypto insurance provider Nexus Mutual invested $15 million in the fund, becoming one of the first investors.

Animoca Brands: Plans to buy more EDU tokens on the open market

BlockBeats news, May 22, Animoca Brands revealed today that it plans to purchase additional EDU tokens from the open market. EDU is the governance and utility token used by Open Campus. Open Campus is a Web3 education protocol supported by Binance Labs, Sequoia China, Animoca Brands, and others.

Animoca Brands strongly supports the work of Open Campus and the EDU Foundation, especially its upcoming EDU Chain, an L3 chain designed specifically for the global education industry.

Animoca Brands and its subsidiary TinyTap are Launch partners of Open Campus. Animoca Brands co-founder Yat Siu and TinyTap CEO Yogev Shelly are members of the EDU Foundation Board of Directors.

OKX Ventures announces investment in Monad Labs

BlockBeats news, on May 22, OKX Ventures announced an investment in Monad Labs to promote innovation in Web3 and decentralized computing, and jointly shape the future of blockchain technology.

Kelp completes $9 million token financing at a valuation of $90 million, led by SCB Limited and Laser Digital

BlockBeats news, on May 22, the Ethereum re-staking agreement Kelp announced that it had completed $9 million in token financing at a valuation of $90 million, led by SCB Limited and Laser Digital (Nomura Securities' cryptocurrency department), with participation from Bankless Ventures, Hypersphere Ventures, Draper Dragon, DACM, Cypher Capital, GSR, HTX Ventures and DWF Ventures. In addition, angel investors such as Scott Moore of Gitcoin, Sam Kazemian of Frax Finance, Marc Zeller of Aave Chan Initiative, Saurabh Sharma of Jump Crypto and Amrit Kumar of AltLayer also participated in this round of investment.

Protocol co-founder Amitej Gajjala said Kelp DAO expects to launch governance tokens "soon" and is "currently undergoing legal and exchange due diligence." Gajjala said Kelp also plans to launch liquidity re-staking services for other blockchains, including Bitcoin, Solana and BNB Chain, which are expected to be launched in the third quarter of this year.

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