The Protocol: Crypto Fundraising, Job Losses, Juicy Payouts, Grants for Devs
Summary
Funding for Bitcoin Core developers is a key focus, with sporadic grants reported. The Optimism Foundation granted $42.5 million to Kraken for its new layer-2 network, Ink, built on the OP stack, indicating a competitive edge in the layer-2 space. Polymarket on Polygon has generated only $27,000 in fees this year, highlighting low transaction costs but raising questions about revenue potential. Consensys announced a 20% workforce reduction due to macroeconomic conditions, while dYdx laid off 35% of its team amid leadership changes. Chainlink introduced the Chainlink Runtime Environment for cross-blockchain applications, aiming to bridge traditional finance and Web3.
