Weekly Project Updates: Berachain Initiates Mainnet Liquidity Pre - deposit, Pudgy Penguins's L2 Goes Online, and Elon Musk's Father Launches a Coin, etc

Feb 01, 2025

1. TON Unveils Its First Half of 2025 Roadmap link

The Open Network (TON) has announced its roadmap for the first half of 2025, which includes the update of the Accelerator kernel on the mainnet, the launch of the Payment Network Layer 2, the enhancement of TOLK 1.0 smart contract functions and the cross-chain support of BTC Teleport. In addition, it will also optimize validator tools and the Toncenter API, introduce new transaction standards such as pending transaction IDs, secure signatures and multi-account generation, and conduct in-depth research on sidechains. The team plans to collaborate with top community projects to further optimize the user experience and improve the TON ecosystem infrastructure.

2. Berachain Initiates the Boyco Mainnet Liquidity Pre — deposit Activity and Establishes a Foundation link

Berachain’s official announcement reveals the launch of the Boyco Mainnet Liquidity Pre — deposit Activity. As a pre — release liquidity platform, Boyco enables users to pre — deposit liquidity on Ethereum into the DeFi protocols within the Berachain ecosystem. Previously, Boyco + Pre — deposits had attracted assets exceeding $2.2 billion. Upon the official launch, these assets will be transferred to the Boyco dApp announced by Berachain. Berachain is offering 2% of the total BERA supply as an incentive for this event. Additionally, some asset issuers and DeFi protocols will also provide extra rewards.

Furthermore, the Berachain Foundation has announced the establishment of the BGT Foundation, which is responsible for promoting the governance and development of the network on behalf of BGT holders. The governance process is divided into several stages. First, a stable BeraSwap liquidity pool is used to lay the foundation for the network. Subsequently, third — party dApps and reward treasuries will be gradually introduced. After the activation of PoL, any protocol pool can apply for BGT rewards. As governance becomes more decentralized, BGT holders will be able to propose and vote on protocol changes. Guardians retain the veto power in emergency situations to ensure network security.

3. Sei Foundation Introduces a $65 Million Venture Fund Focusing on the DeSci Field link

The Sei Foundation has launched a $65 — million venture fund titled “Sapien Capital — Open Science Fund I”, which focuses on the decentralized science (DeSci) field. It aims to invest in startups natively built on the Sei blockchain. Instead of providing grants, this fund will make equity or token investments ranging from $100,000 to $2 million, and plans to deploy the capital within three to four years. The Sei Foundation intends to collaborate with academic institutions, universities, and life — science enterprises to enhance the recognition of DeSci, and offer support in market strategies and user education to its portfolio companies.

4. Pudgy Penguins’ Parent Company Igloo’s L2 Abstract Chain Goes Live on the Mainnet link

Pudgy Penguins’ parent company, Igloo Inc., has announced that Abstract Chain, an Ethereum Layer 2 network developed based on the ZKsync technology stack, has officially launched its mainnet and is open to the public. Abstract Chain aims to support the crypto community and consumer-grade Web3 applications and has secured $11 million in investment from institutions such as Founders Fund. The network employs native account abstraction technology, enabling wallets to function as smart contracts.

5. SEC Confirms Canary Funds Litecoin ETF 19b — 4 Filing link

According to the announcement released by the Securities and Exchange Commission (SEC), the 19b — 4 filing of Canary Funds’ Litecoin ETF has been confirmed by the SEC. The announcement aims to solicit public opinions on the rule changes proposed by the NASDAQ, with the plan to list and trade the shares of Canary Litecoin ETF in accordance with NASDAQ Rule 5711(d).

6. SoSoValue’s $4.7 Million Strategic Airdrop to 47T Foundation Officially Kicks Off link

SoSoValue has announced the official launch of a $4.7 — million strategic airdrop donated to the 47T Foundation. The first batch of MAG7.ssi index tokens, worth $1 million, will be available for eligible users to claim at 8 p.m. tonight. The airdrop recipients include holders of ETH, AAVE, LINK, ENA, and ONDO. Eligible individuals need to visit the SSI official website and connect their Base — chain wallets to receive the tokens. MAG7.ssi is an index — fund token that encompasses the spot synthesis of seven major mainstream cryptocurrencies, such as Bitcoin, Ethereum, and Solana, on their native chains. Just three days after the launch of staking for SoSoValue Indexces Protocol index tokens, the total TVL has exceeded $85 million.

7. ai16z Renames to ElizaOS Due to a16z’s Concerns about Brand Confusion link

The artificial intelligence decentralized autonomous organization ai16z has been renamed ElizaOS due to concerns about brand confusion from a16z. Shaw Walters, the founder of Eliza Labs, announced the update on ai16z’s Discord server on Sunday, positioning this change as a pivot for moving forward. Previously, Chris Dixon, the managing partner of a16z, said in an interview that the similarity between the two entities “caused some confusion”, adding, “I believe they are changing it. We have asked them to do so.”

8. VitaDAO Initiates Proposal VDP — 161.1, Planning to Airdrop BIO to VITA and VitaDAO IPT Holders if Passed link

VitaDAO has initiated a new proposal, VDP — 161.1, aiming to airdrop 2 million BIO tokens to VITA and VitaDAO IPT holders. Among these, 50% of the airdropped tokens can be obtained immediately, while the remaining 50% will be distributed according to a one — year linear unlocking plan. This proposal is an improved version of VDP — 161. It includes Solana VITA holders as eligible participants and excludes holders of the BIO Protocol Treasury or other bioDAOs (bioDAOs holding VITA) from the distribution.

9. Paradigm Commits to Provide $1.25 Million to Support the Co-founder of Tornado Cash in Legal Defense link

Paradigm co-founder Matt Huang has announced that the crypto venture capital firm will donate $1.25 million to support Tornado Cash developer Roman Storm in his legal defense against the US prosecution. Huang said that the prosecution’s case threatens to hold software developers criminally liable for the misdeeds of third parties, which would have a chilling effect on the cryptocurrency industry and beyond, and that “we must stand with Storm”.

10. Elon Musk’s Father‌, Errol Musk, Aims to Raise $150–200 Million through a Token Project link

Errol Musk, the father of Tesla CEO Elon Musk, hopes to raise $150 million to $200 million through a token project called “Musk lt”. The elder Musk said he has no doubts about making money from a “meme coin” with his name, as many potential buyers will inevitably associate it with his famous son.

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