This Week in Web3: Coinbase Launches 'Smart Wallet', GnosisDAO Spins Off Karpatkey, Mantle EcoFund Deploys $5M

Coinbase is launching its browser-based 'Smart Wallet' infrastructure. The tech will allow wallet developers to provide users with passkey-based logins, easy access to Coinbase balances and the potential for gasless transactions.

Coinbase Launches 'Smart Wallet' Infrastructure

Coinbase is launching its browser-based 'Smart Wallet' infrastructure, allowing wallet developers to provide users with passkey-based logins, easy access to Coinbase balances and the potential for gasless transactions. The wallet supports multiple EVM-based L2 networks and integrates with popular existing wallet SDKs.

GnosisDAO Spins Off Karpatkey as Stand-Alone Entity

GnosisDAO voted to spin off karpatkey as a stand-alone entity managed by the KPK token. Karpatkey has managed over $2.6 billion in treasuries since its launch, providing risk management and on-chain financial services. Karpatkey’s clients include Uniswap, GnosisDAO, CoW, MakerDAO, Safe, and Arbitrum, among others, according to a representative for Gnosis.

Mantle EcoFund Deploys $5M in Second Capital Call

Mantle EcoFund, with a capital pool of $200 million, deployed $5 million in its second capital call. "Seven Mantle Ecosystem SocialFi and gaming projects have received fresh funding: MetaCene, Blade Games, Co-Museum, Fingerlabs, L3E7, and DreamOS," said Mantle. "The newly inducted projects within Mantle EcoFund portfolio underscore Mantle’s belief in the transformative power of SocialFi and gaming applications to onboard the next billion users to Web3."

Everclear Rebrands, Launches Clearing Layer for Web3

Connext has rebranded to Everclear to build a Clearing Layer for Web3, aiming to solve liquidity fragmentation for modular blockchains. Everclear secured $5 million from Pantera Capital and launched its testnet to reduce liquidity management costs across chains. Their system "can reduce the cost and complexity of solving and liquidity management across chains by as much as 90%," according to Everclear.

Nuklai Launches First Phase of HelixVM Early Testnet

Nuklai, a layer-1 blockchain built for artificial intelligence, launched the first phase of its HelixVM Early Testnet, introducing core functionalities for developers and users. The testnet allows transferring tokens, minting, and other interactions, supporting developers to build on HelixVM.

Celo Integrates Chainlink's CCIP for Cross-Chain Interoperability

Celo, the layer-2 blockchain for Ethereum, has integrated Chainlink’s CCIP for cross-chain interoperability. This integration aims to enhance cross-chain security and reliability, supporting various token transfer mechanisms and positioning Celo for on-chain innovation.

SCRYPT Raises $5M in Strategic Funding Round

SCRYPT, a provider of crypto asset financial services, has closed a $5 million strategic funding round led by Braza Bank. This funding will support SCRYPT’s expansion in LATAM and enhance its product offerings.

JOJO Implements ZK-Proof for Funding Rates on Base Chain

JOJO, a perpetuals exchange on Coinbase's Base blockchain, is partnering with Brevis to implement ZK-proof technology for funding rates. This aims to bring price stability and better liquidity for traders by efficiently calculating funding rates. "A precise funding rate is essential to perpetual futures, as it keeps contract prices aligned with spot prices," the company said. "Even so, it's computationally intense. With Brevis' ZK Coprocessor technology, the funding rate can be calculated efficiently and quickly, creating an accurate funding rate to benefit all traders."

Helix 2.0 by Injective Launches with New Trading Tools, Contracts

Helix, a decentralized spot and derivatives exchange on Injective, released Helix 2.0, featuring new trading tools and support for new perpetual futures contracts. "Helix 2.0 broadens DeFi trading capabilities by offering TradFi market-making tools and opens new gateways to capitalize on RWAs in decentralized markets," said Injective, who shared the news with CoinDesk.

API3 Completes Strategic Funding Round Led by DWF Labs

API3 has completed a strategic funding round led by DWF Labs, raising $4 million. The funding will enhance liquidity and support API3’s growth strategy, according to the company. API3’s Total Value Secured (TVS) has increased significantly to over $1 billion, the team says, as it has integrated with new chains like Optimism Superchain and Worldcoin.

The Graph Demos AI Chatbot, Semiotic Labs Releases Whitepaper

Semiotic Labs released a whitepaper on AI services and launched a demo of Agentc, a ChatGPT-like tool built on The Graph, the blockchain indexing platform. The chatbot aims to facilitate blockchain data access via natural language, and a demo will be available for two weeks.