Welcome to the latest edition of the Weekly Pulse, a weekly Algorand news wrap-up segment presented by Algopulse. As ever, we welcome your feedback so if there is anything you would like us to add, please let us know on Twitter, Discord, or Telegram.
Drone Racing League Announce Production of Virtual Game Built on Algorand
The Drone Racing League has this week announced the development of a new virtual version of the sport which will be powered by the Algorand blockchain. Algorand is the Drone Racing League’s principal commercial partner after signing a $100 million contract in 2021.
Playground Labs have been selected as the developer of the virtual game with funding also reportedly coming from Hivemind Capital Partners who were launched by former Wall Street executive Matt Zhang.
Algorand Partners With Alchemy Pay
A new partnership between Algorand and Alchemy Pay is set to facilitate the integration of direct fiat payment channels. Alchemy Pay’s protocol connects fiat currencies with the DeFi economy which now includes the ALGO token. This will mean that use of ALGO has become increasingly accessible to users around the world by allowing them to use the currency through mainstream payment methods.
“Our payment network gives ALGO broad use as a currency globally,” said Alchemy Pay CEO, John Tan.
“Like us, Algorand is focused on the evolution of decentralized finance, and we are happy to be helping Algorand users move seamlessly between blockchain and non-blockchain economies.”
Algorand Foundation Form Partnership With Università Bocconi
The Algorand Foundation has announced a new partnership with Universita Bocconi in Milan Italy. The three year agreement is the latest Algorand Foundation University Programme and will see a research lab established at the institution.
“We’re excited to support Università Bocconi in setting up the Algorand Fintech Lab which has the mission of of developing and disseminating knowledge in the area of fintech technologies, with focus on the crucial challenges in the crypto-finance area while promoting blockchain literacy and social innovation,” said Hugo Krawczyk, principal researcher and head of the Algorand Centres of Excellence programme at Algorand Foundation.
MariCoin CEO Responds to Critics
Recently established Algorand LGBT-token Maricoin has this week responded to skepticism directed at the project by the community. The criticism was primarily directed at the project and token name which is a play-on-words of what is considered an offensive Spanish homophobic slur. MariCoin CEO Francisco Alvarez responded to these allegations to Cointelegraph to clarify that the purpose of the name is to help use the slur as “a fortress.”
“In Spain, it is very common for members of the gay community to call themselves “Maricón,” so Juan, an active member of the community, thought MariCoin was a fantastic name for a cryptocurrency that would unite the whole community,” Alvarez said.
Tinyman Launches New Bug Bounty Program
Algorand DEX Tinyman have this week announced the establishment of a new bug bounty program empowering their community to improve the platform. In the wake of the recent attack Tinyman were the victim of, the project have reengaged auditors to secure their platform. Having done so, Tinyman have also recognized the community’s expanded potential to identify problems and improve the platform which has sparked the launch of this initiative. The Tinyman team have offered the following reward incentives: Critical: Up to $100,000 + single edition Tinyman NFT, High: $10,000 + NFT, Medium: $5,000, Low: $1,000 with the Tinyman team to determine bug severity. Users that find bugs are encouraged to contact Tinyman via email@example.com.
Verida to Integrate Tech With Nimble Platform
New Algorand based insurance protocol Nimble has this week announced that it will be partnering with established Algorand vault platform Verida to assist with their build. Verdia’s framework will primarily assist with storage, identity, and messaging capabilities within Nimble’s platform.
“This partnership will create a transparent relationship between what has traditionally been referred to as insureds and insurers,” says Nimble Founder, Adam Hofmann.
“However, it busts that traditional box and creates the rails for a new insurance process that allows everyone to be a part of the insurance ecosystem and create strong and robust communities the can not only pool their shared risk, but also earn the benefits of insurance as a service and the yield that is intrinsic to blockchain networks.”
“With the rails built, insurance capital resources can be deployed much more effectively and equitably to propel these new and exciting models.”
Algorand to Sponsor World’s Biggest Hackathon
This world’s largest environmental hackathon Fishackathon, has announced a new partnership with Algorand Foundation that will help facilitate the implementation of blockchain for the first time. The Foundation will be sponsoring the event in conjunction with BSN.
‘We’re excited to support Fishackathon with our uniquely green blockchain platform,” said Algorand Foundation CEO Sean Lee.
“The Algorand network was designed from the ground up to minimally impact the environment.”
“With the ocean system hackathon embodying the key values of the Algorand ecosystem, we are looking forward to having more climate-friendly innovation on fisheries, aquaculture, and supply chains.”
CrowdX Awarded Algorand Foundation Grant
The Algorand Foundation awarded a grant to CrowdX to support their build of an Algorand based ECO NFTs portfolio. CrowdX will mint NFTs on Algorand, backed by carbon credits and ultimately physical trees in partnership with established forestry fund management businesses.
“We founded CrowdX as a new capital market for privately-held businesses,” said CrowdX CEO Mike McCudden.
“The technology developed allowed the creation of a complementary market for carbon credit trading, with registry functions residing on the blockchain.”
“It was however vital that we undertook this in a sustainable manner, hence the decision to leverage the carbon-negative Algorand ecosystem.”
Kaiko Integrates With Algoracle
Kaiko and Algoracle have announced a new partnership that will see Kaiko’s market data integrated with Algoracle’s decentralized oracle protocol. Oracle platforms allows real-world data to be used in smart contracts which provide more robust financial functionality.
“We believe data providers should be able to offer their services directly to Algorand based applications, and we are excited to begin testing the infrastructure to allow institutional grade providers like Kaiko to connect with Algorand applications,” said Algoracle CEO Abdul Osman.
Thank you for reading this week’s edition of the Weekly Pulse as we look forward to continue bringing this content to the Algorand Community. Was there anything that we missed? If so let us know on Twitter, Discord, or Telegram where you can also send us any news you see throughout next week for our next installment.