Protocol Village: Cytonic, Layer-1 Chain With 'MultiVM' Design, Raises $8.3M in Seed Round
Cytonic, a layer-1 blockchain known as "MultiVM," has secured $8.3 million in a seed round co-led by Lemniscap and Lattice. It is designed to run multiple virtual machines within the same network layer, enhancing blockchain compatibility and allowing various transaction types to be processed together. The Algorand blockchain will launch an inclusive staking rewards program in December, offering real-time block rewards starting at 10 ALGO per block, decreasing by 1% every million blocks, along with 50% of transaction fees for validators. Solv Protocol has introduced a classification system for its SolvBTC reserve, categorizing assets into Core Reserve and Innovative Reserve to improve stability and risk management. Solv is now a major multichain BTC liquid staking token issuer, managing over 24,000 BTC ($2 billion) across more than 10 networks.
