This week in blockchain technology showcases significant upgrades, new deployments, and innovative projects across various platforms. Here are the highlights:
Velodrome Joins Bitcoin’s Layer-2 Network BOB
On April 4, Velodrome, a decentralized exchange (DEX) originally built on the Optimism layer, announced its expansion onto the BOB (Build on Bitcoin) network. This move introduces Velodrome as the primary MetaDEX within the Superchain, an interoperable network of layer-2 chains supported by the OP Stack. This strategic deployment aims to centralize liquidity and trading volume, further enhancing BTC DeFi and enabling innovative use cases through EVM-compatible contract deployments.
Reddit Data DAO on Vana Network
The same day, Vana, a decentralized network for user-owned datasets, welcomed the launch of Reddit Data DAO. This initiative establishes a community-owned data treasury where Reddit users can contribute data and gain governance rights. The DAO empowers users to decide on the sale of their data to AI companies or opt for deletion in exchange for direct compensation from Reddit, showcasing the potential for user-driven data management and monetization.
Drife Rides onto SUI Blockchain
Drife, a Web3 decentralized ride-hailing platform, announced its transition to the Sui blockchain, marking its departure from its initial build on Polygon. This migration positions Drife as the first decentralized mobility platform on Sui, emphasizing a zero-commission fee model that benefits both drivers and riders through increased earnings and savings, respectively. Sui’s infrastructure promises low network fees and reduced transaction costs, aiming to enhance affordability and efficiency for Drife’s peer-to-peer network.
These developments highlight the ongoing evolution and adoption of blockchain technology across different sectors, from decentralized finance (DeFi) and data ownership to peer-to-peer services. The integration of traditional platforms with blockchain innovations continues to unlock new possibilities, paving the way for more user-centric, efficient, and transparent systems.
