LI.FI Raises $5.5M | $NEXT Delay | Abacus on Mainnet | Klima x LI.FI | Arbitrum Nova | Rubic Integrates LI.FI | & More!

Last Week In The Multi-Chain Ecosystem (11th to 17th July 2022)

Arjun Chand

Jul 18, 2022

Bridge Updates

1) LI.FI Raises $5.5M Strategic Round 💸

LI.FI has raised $5.5M in a strategic funding round led by 1kx. The capital will be used to integrate more bridges and DEXs, get the LI.FI SDK/Widget integrated into established dApps, grow the team and increase awareness about LI.FI.

2) Connext Delays $NEXT Launch 😬

Connext has announced that the NEXT token launch has been delayed citing recent market conditions and volatility. During the short delay, the team aims to prioritize efforts for the upcoming Amarok upgrade.

3) Klima Cross-Chain Carbon Offsetting 💚

LI.FI and Etherespot partner to facilitate cross-chain carbon offsets via KlimaDAO. Users can now purchase carbon credits from any of the 15 chains supported by LI.FI in just 3 clicks.

4) Abacus is Live on Mainnet Alpha 👏🏻

Abacus Network, a cross-chain message passing protocol that lets developers build interchain applications, is now live on Mainnet. Mainnet Alpha is phase 1 for Abacus and enables its core value prop; interchain messaging and interchain applications.

5) deBridge Audit Reports Repo 🔒

deBridge has published an audit report repository on GitHub, which lists all the different reports from deBridge’s security audit partners on different areas of the protocol.

6) Cross-Chain Call Library for Solidity

@zachobront introduces xchain, a Solidity library for cross-chain calls in Forge tests and scripts.

7) Rubic Integrates LI.FI 🟩

Rubic has integrated LI.FI to expand its network of supported chains, DEXs, and bridges. The integration enables Rubic to add over 50% more chains to its ecosystem.

Multi-Chain Ecosystem Updates

1) Arbitrum Nova is Now Live 🚀

Arbitrum announces Nova, a new chain for gaming and social dApps, built using the AnyTrust technology. Nova is now open for devs to deploy their dApps.

2) Brave Now Supports Solana dApps ✨\

Brave has upgraded its support for the Solana ecosystem with version 1.41. Users can now access Solana dApps such as Magic Eden, Audius, Stepn, directly from the Brave wallet.

3) Acala’s $250M Ecosystem Fund 🤑

Acala Network, a Polkdaot parachain, has announced a $250m ecosystem fund. The Fund provides support to early-stage projects looking to build with the aUSD stablecoin.

4) Angle Protocol is Now Live on Polygon 👏🏻

Angle, an over-collateralized stablecoin protocol, has deployed its borrowing module on Poly Users can now borrow Euro-pegged agEUR stablecoin on Polygon PoS with minimized liquidation and transaction costs.

5) Celo Network Outage ❕

The Celo network experienced an outage on 14 July and had to be halted at block 14,035,19. The validators have resolved the issues, and the network is up again. This was Celo’s first outage since mainnet launch on April 22, 2020.

6) Polygon on Disney Accelerator 🎉

Polygon has been chosen to be a part of the Disney Accelerator program 2022, a business development program designed to accelerate the growth of innovative companies worldwide.

7) Ethereum Merge on 19 September’22? 🐼

According to a tweet by @superphiz, if things go well, the Ethereum Mainnet merge could go live on the 19th of September, two weeks after Bellatrix update. The Ethereum Goerli testnet is set to merge on August 11th.

What’s Popping on Twitter?

Save The Date — Ethereum Merge Planned for 19th September ❕❕

The Ethereum Merge, one of the most historical events in crypto, is quickly approaching, with 19th September rumored to be the expected date of the Merge.

For a quick refresher on what the Merge is all about, check out this thread 👇🏻

🇫🇷 LI.FI 🇫🇷 📍 Paris - ETHCC @lifiprotocol

The Ethereum Merge is scheduled for June’22. That’s only 3 months away. The Merge could be one of the most historical events in Crypto history. Today, we’d like to inform our readers why the event is so significant. A thread! 🧵

Earlier in April, Tim Beiko provided a roadmap to the Merge. Before the Mainnet Merge, Ethereum’s testnests which serve as testing grounds for the Merge, must pass all the tests successfully. Here’s where we currently stand:

TL;DR — There is just one testnet left before the Ethereum Mainnet network completes the Merge.

Stage 1 — More Shadow Forks ✅
Stage 2 — Fork Ropsten ✅
Stage 3 — Fork Sepolia ✅
Stage 4 — Fork Goerli ❓
Stage 5 — The Merge 📍

Ethereum testnet Sepolia shifted to Proof of Stake on July 7. Expectedly, Goerli/Prater client releases are on the 27th or 28th of this month. Shortly after is the Prater Bellatrix on the 8th of August, followed by the Goerli Merge on the 11th of the same month.

superphiz.eth 🦇🔊🐼 @superphiz

This merge timeline isn't final, but it's extremely exciting to see it coming together. Please regard this as a planning timeline and look out for official announcements! hackmd.io/@benjaminion/B…

After the Goerli Merge on 11th August and the Bellatrix update in early September, the path is clear for the Merge to finally happen in the week of 19th September.

The devs are doing something; stay tuned! 🐼