Project Progress

Gate News Report, March 11 — According to Gate Market Data, at the time of press, RIVER (River) is trading at $14.80, up 32.12% in the past 24 hours. The price reached a high of $21.59 and a low of $10.67. The 24-hour trading volume is $51.1 million. The current market capitalization is approximately $290 million, an increase of $70.5 million from yesterday. ## Important Recent News about RIVER: 1️⃣ **On-Chain Infrastructure Financing Drives Growth** TRON DAO Ventures has provided $8 million in funding to River to support the expansion of its on-chain abstraction infrastructure within the TRON ecosystem. This move indicates that River’s strategic value as a cross-chain liquidity connection solution has been recognized by leading public chain ecosystems, supporting the project’s long-term development.

Gate News Announcement: On March 11, the NFT project Doodles officially announced that the Doodles AI beta version will be officially launched on March 17.

Ripple plans to apply for a financial services license in Australia through the acquisition of BC Payments to expand its cross-border payment business. Fiona Murray stated that the Australian market is important, and obtaining the license will enhance business capabilities. Ripple already holds 75 licenses worldwide and predicts that the Asia-Pacific payment transaction volume will double. Meanwhile, retail investors dominate the demand in the XRP market, ETF asset management scale remains stable, and institutional investors participate less, forming a "dual-track development" pattern between institutions and retail investors.

Aave experienced a oracle failure on March 10th, resulting in the improper liquidation of approximately $26 million worth of wstETH, affecting 34 accounts. The failure was caused by a mismatch between the snapshot ratio and timestamp in the CAPO mechanism, leading to a final exchange rate lower than the market actual value. Aave will compensate using the recovered 141.5 ETH and 345 ETH provided by the DAO treasury. No bad debt occurred in the protocol.

Ethereum founder Vitalik Buterin stated on X that the in-depth funding mechanism of Gitcoin Grants is still operational and suggested continuing to improve it, especially to meet the demands of chaotic times. He believes that this mechanism has the advantages of the selection principle and artificial intelligence but still exhibits features of a "stable era," requiring further adjustments to adapt to future changes.

Gate News Announcement, March 11, Starknet launched the STRK20 protocol-level privacy feature, supporting confidential balances and private transfers for any ERC-20 tokens, with an integrated compliance mechanism. Since its launch day, STRK20 has supported anonymous transactions on Ekubo Protocol, as well as anonymous staking of BTC and STRK.

Solmate Infrastructure announces strategic transformation into an institutional-level Solana infrastructure provider, with operations based in Abu Dhabi, planning to sell some non-core assets and implement a 10-for-1 reverse stock split. This move aims to accelerate the transition to blockchain infrastructure and digital asset management, despite capital market pressures.

Nasdaq-listed company Solmate (Brera Holdings PLC) proposes a 10-for-1 reverse stock split and plans to change its legal name to Solmate Infrastructure PLC to support its plan to build a Solana hub in the UAE. At the same time, the company plans to spin off its underperforming football team, retaining only the Italian club Juve Stabia, to leverage funds for expanding Solana infrastructure.

The Ethereum Foundation and Virtuals Protocol have launched the ERC-8183 standard, aimed at solving trust issues in commercial transactions between AI Agents. The standard defines on-chain tasks and introduces evaluation roles to enable decentralized transactions, avoiding intervention by centralized platforms. ERC-8183 complements other standards such as x402 and ERC-8004, collectively building a decentralized AI Agent economy system.

Gate News Announcement, March 11 — According to official sources, stablecoin issuer Circle (CRCL) announced that starting March 9, the native USDC and its cross-chain transfer protocol (CCTP) are officially live on EDGE Chain. This integration will bring fully regulated, USD-backed stablecoins directly into the EDGE Chain ecosystem, offering seamless cross-chain functionality and eliminating the need for wrapped or bridged assets.

NBA-themed crypto project Basketball.fun is processing refund requests from digital card pack buyers because users are unable to trade these assets. The co-founder stated that 24 refunds have been received, totaling less than $2,000. Former NBA player and advisor Tristan Thompson has exited the project. The project plans to launch digital card pack sales on the Base chain this month.

The on-chain financial market platform Theo launches gold-backed interest-bearing stablecoin thUSD and establishes a $100 million pre-deposit pool, which has currently reached 89%. Users can deposit USDC or thBILL on Ethereum, Arbitrum, and Stable Chain. The activity lasts for 6 weeks, with an expected annualized return of approximately 8.3%.

Ripple seeks to obtain an Australian financial services license through the acquisition of BC Payments, promoting the development of cross-border payment services in the Asia-Pacific region. If the application is successful, it will enhance its competitiveness in the local market, streamline transaction processes, and reduce reliance on intermediaries. This move could drive the adoption of blockchain payment technology within regulated financial systems, but market competition remains intense, and friction still exists between traditional financial systems and crypto services.

AINFT platform users have exceeded 550,000, quickly becoming one of the active AI application ecosystems in the Web3 space. By integrating models and on-chain workflows, it provides developers with full-chain support and plans to expand login methods, payment channels, and optimize the user experience to promote large-scale AI applications.

NVIDIA-supported Starcloud project to establish an orbital data center in space, launching space Bitcoin mining this year to explore the feasibility of solar-powered computing. The center will consist of approximately 88,000 satellites, utilizing low-cost ASIC miners in space for mining, aiming to improve energy efficiency and potentially create a new generation of digital financial systems.

Hyperliquid announced the official launch of HIP-4 on the testnet on March 11, introducing the first batch of cyclical binary options markets based on HyperCore's spot prices. The contract is fully collateralized, featuring nonlinear payoffs and expiration characteristics. Future plans include launching one-day expiration markets for BTC and HYPE, as well as multi-outcome markets. The network upgrade will expand the scope of portfolio margin applicability and set limits on the supply and lending of USDH.

Circle's newly launched Circle Nanopayments on the testnet are designed to support ultra-low amount USDC transactions, solving the dual dilemma of traditional payment systems and on-chain Gas fees. The system utilizes off-chain aggregation and batch on-chain settlement technology to enable developers to make micro-payments without Gas fees. The first real-world case is an autonomous robot dog completing a charging transaction through this system, demonstrating the practicality of the agent economy.

Token holders of the Solana ecosystem project Ranger Finance voted on-chain to decide on liquidating the project and recovering funds. This decision was prompted by allegations of false statements by the team, ultimately resulting in the removal of 5 million USDC allocated to token holders.

PlaysOut Platform (PLAY) surged 72.34% on March 11, with a market capitalization of $32.7 million. Its product architecture was upgraded to support various interactive entertainment forms, integrating AI stack technology to lower development barriers, and collaborating with mainstream exchanges to enhance liquidity. These measures have improved the platform's competitiveness and content richness.

Circle announces the launch of the Circle Nanopayments testnet, supporting transfers of as little as $0.000001 USDC with no Gas fees, aiming to provide a payment infrastructure for the Agent economy. Using off-chain transaction aggregation and delayed on-chain settlement, developers can enable various payment scenarios. The solution has been deployed on multiple testnet chains.