The 1inch Foundation releases $634,000 to grantees
This batch of 1inch grants will fund a range of solutions aimed at growing out the 1inch ecosystem and improving user experience.
The 1inch Foundation is glad to announce a new batch of grants, with the recipients to collect an equivalent of $634,000 in 1INCH tokens.
From this post, you’ll learn who the new grantees are and what products and solutions they are creating.
Li.Finance
Li.Finance offers dApp and protocol developers an SDK and widget to drive multi-chain strategies. While the widget enables users to bridge and swap any asset into the one required by the dApp, the SDK goes even further and allows for arbitrary contract calls, which could allow cross-chain yield strategies.
In the back, Li.Finance is a bridge and DEX aggregator whereby DEX aggregation is done by existing players, including 1inch. For bridge aggregation, Li.Finance works with Connext, Hop, cBridge, Multichain, and other popular bridging solutions. Solutions like Nomad, Axelar and LayerZero allow for arbitrary data messaging cross-chain and enable supercharged money markets. Similarly to 1inch, it develops a smart routing algorithm around bridging and offers full flexibility when it comes to which solutions to use/trust or prefer.
As one of Li.Finance’s advisors, the 1inch Network’s co-founder Anton Bukov shares his extensive knowledge about gas efficient aggregation and economic and security-related problems.
“Working with 1inch has been a breeze,” says Philipp Zentner, Li.Finance’s CEO. “Anton is super smart about anything tech, and their grant team was supportive along the way not only by offering a grant but also by asking the right questions, which improved our overall communication.”
For more on Li.Finance, check out the links below:
- https://twitter.com/lifiprotocol
- https://blog.li.fi/li-finance-plug-play-interoperability-9ce64222906f
- https://li.fi/
SyntiFi
SyntiFi is dealing with issues related to Anti Money Laundering (AML) processes.
“The main issue in fighting financial crime is that traditional and crypto financial institutions manage their own Anti Money Laundering (AML) processes independently,” says André Bertolace, a partner at SyntiFi. “These same institutions continue to invest enormous resources in internal systems to fight financial crime and fulfill regulatory requirements.”
However, according to André, financial crime occurs across institutions and jurisdictions in both crypto and fiat worlds.
“Closer collaboration between the market players is fundamental, but privacy regulations and banking secrecy rules prevent data sharing,” he explains. “The result is an industry on the verge of a revolution that still relies on regulatory processes of the last century.”
“The blockchain technology solves some of these problems by providing a secure and reliable ledger to all stakeholders,” he concludes. “SyntiFi is here to close the gap by providing the ecosystem with ORI, our On-chain Risk Intelligence tool, to investigate and monitor financial transactions stored across chains.”
For more on SyntiFi, check out:
Where is Dino
Where is Dino is an animation studio that has been working in DeFi since 2019. In addition to 1inch, a list of their partners features Litecoin, Mercuryo, Bybit, Vivid Money and others.
Where is Dino’s team consists of more than 10 people, as well as various outsourcing teams with whom the studio has worked on a regular basis.
The grant will fund the production of a 10-minute animated video for 1inch about the crypto world pictured in a cyberpunk style. The video’s protagonist is Guild Captain 1inch, and the plot is centered on confrontation between various guilds — DeFi protocols.
For more on Where is Dino, check out:
Alexey Devyatkin
A team headed by developer Alexey Devyatkin is building a hardware cold wallet for 1inch.
“Having studied the current offer of cold wallets on the market, our team came to the conclusion that each wallet has its own advantages and disadvantages,” says Devyatkin. “So, we decided to make a simple, but at the same time robust and secure wallet that will work flawlessly like a Kalashnikov assault rifle.”
The wallet’s hardware features:
- Integrated camera
- Touch e-ink display
- Wireless charger
- Bank card size with 3mm thickness
- No Bluetooth, NFC or USB
Other features:
- Will be integrated into the 1inch Wallet
- Generate a seed phrase (BIP32) of 12 or 24 words
- Support for Ethereum (ERC-20) and Ethereum-like tokens
- Full transaction information
- Air-gap signing transaction with a use of QR codes for maximum security
For more on this solution, see:
Erigon
Erigon is a Go implementation of Ethereum, with the aim of achieving efficiency and modularity. It was initially derived from Go-Ethereum in 2017, but has significantly diverged since then: it has a completely revamped data model, a very different database backend, an alternative implementation of the transaction pool and block downloader.
Changes were made over the years to improve efficiency and to reduce the footprint of an Ethereum node. However, modularity was also improved: Erigon can be run not as just a monolithic process, but split into separate components (can be run on different computers) — for RPC API, transaction pools, p2p sentry and BitTorrent downloader/seeder (coming up in Erigon2).
Recently, Erigon has accepted changes to support Binance Smart Chain (still experimental), and there are plans to also bring upstream changes from Turbo-Bor project (Polygon).
Erigon has two sister projects, Silkworm and Akula, the implementations of the same efficient and modular design in C++ and Rust, respectively.
For more on Erigon, check out:
- https://twitter.com/ErigonEth
- https://github.com/ledgerwatch/erigon
- https://github.com/torquem-ch/silkworm
- https://github.com/torquem-ch/silkrpc
- https://github.com/akula-bft/akula
The 1inch grant program is ongoing. To learn more about it and apply for a grant, visit this page!
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