DWF Labs switches headquarters from Singapore to Abu Dhabi

Aevo Launches Novel Index Perpetual ContractAevo, the layer-2 derivatives platform launched by Singapore’s Ribbon Finance earlier this year, has introduced a new index perpetual contract.The contract allows traders to engage in long or short positions based on the market capitalization of accounts within the social application Friend.tech.Photo by Compare Fibre on UnsplashFRIEND-PERPThe FRIEND-PERP market is now live according to The Block, and it has gained significant traction, boasting a daily trading volume of $501,824 and a current trading price of $7.14. This market operates on a unique premise — a perpetual contract, which, unlike conventional futures contracts, does not adhere to an expiration date. This feature is particularly appealing to the crypto trading community, enabling them to seize opportunities without the constraints of time-bound contracts.Surge in interestFriend.tech, the social app at the center of this Aevo product offering, has integrated with Ethereum layer-2 network Base, a blockchain incubated by Coinbase earlier this year. This network, which officially welcomed the public on August 9, has been the center of attention within the crypto sector over the past couple of weeks.The social app enables market participants to buy shares of individuals who hold accounts on X (formerly Twitter). Since its launch earlier this month, the Friend.tech app has grown rapidly. It attracted over 100,000 daily users within 24 hours of its launch.Each user stands to benefit financially from the purchase and sale of their shares, a pioneering approach that has lured prominent figures, including venture capitalist Garry Tan, NBA star Grayson Allen, and celebrated YouTuber FaZe Banks, to the platform.Boost for BaseUS crypto platform Coinbase has embraced Friend.tech as it marks the first major breakthrough use case for its Base blockchain network. This collaborative effort has propelled the Base network to new heights, positioning it among the top cryptocurrency projects by user fee revenue. With $1.4 million in fees generated over the last 24 hours alone, Friend.tech ranks among industry giants, trailing only Ethereum and Lido Finance in this metric, according to data from DeFiLlama.While the app has risen at a phenomenal pace, there are concerns relative to the degree of privacy it affords its users. The public availability of the Friend.tech API used to convert X usernames into wallet addresses has raised the alarm for potential data exposure.A Yearn Finance developer, known by the pseudonym Banteg, used this API to compile a list of Ethereum addresses linked to X accounts. While the community has reassured users that access can be revoked, the implications of this exposure for privacy and security cannot be understated.The Aevo project was first announced by Ribbon Finance in September 2022 and subsequently launched in June. The goal of the project is to convert users from centralized exchanges, bringing them over to the decentralized exchange (DEX) platform.

Delabs Games Opens Pre-Registration for Global Open Beta Test of Rumble Racing StarKorean game developer Delabs Games has opened pre-registration for the global open beta test of its PC-based Web3 game Rumble Racing Star on October 11 at 06:00 UTC.Photo by Mateo on UnsplashBringing expertise and colorful charactersRumble Racing Star was directed by veteran developer Choi Beong-ryang, who is known for working on fan-favorite casual racing games like KartRider and ZIPI Racing. Popular profile picture (PFP) non-fungible token (NFT) characters with dynamic and whimsical features have been integrated into the gameplay, creating a unique experience and exciting racing controls for players.The pre-registration for Rumble Racing Star’s open beta test is being carried out on the game’s official website. It will be open to users around the world from now until October 25, 06:00 UTC. More detailed information can be found on the website as well.“We have incorporated distinctive PFP NFT characters and an accessible, dynamic arcade racing gameplay. We hope that Rumble Racing Star, a casual Web3 game that people of all ages can enjoy, will receive lots of attention and love,” said Kwon Joon-mo, CEO of Delabs Games.Social media promotionsTo celebrate the pre-registration event, Delabs Games also said that it has planned various engaging events on global social media platforms like Discord and Twitter.

Worldcoin, the startup co-founded by OpenAI CEO Sam Altman, has encountered setbacks in its eye-scanning initiatives just six months after its international expansion. A recent report by TechCrunch indicates that the company’s signature orb eye-scanner is no longer available to users in the Indian market. According to that report, the Worldcoin Foundation clarified that its activities have also been suspended in France and Brazil. The company clarified that its offerings in those markets were only intended to be limited-time product previews as opposed to long-term roll-outs.Photo by Big G Media on UnsplashTemporary service haltIn India, the World App is experiencing widespread adoption, but the orb-verified proof of personhood services has been temporarily halted. The pause aims to allow the protocol to develop and implement a bespoke, safe and orderly process to meet the growing demand. The setback comes after Tools for Humanity, the organization behind Worldcoin, announced the expansion of World ID, its digital identity program linked to iris scans, in July. The startup had ambitious plans, intending to make 1,500 orbs available in over 35 cities globally. Recently, the company unveiled a program offering $5 million in grants to developers utilizing its eye-scanning technology. Regulatory investigationsSam Altman and his co-founders established Worldcoin in 2020 to help individuals prove their digital identity amidst the rise of AI. Over the years, Worldcoin has secured $250 million in funding from notable venture capitalists, including Andreessen Horowitz. However, the startup has faced regulatory challenges, including investigations by French and German regulators and an Argentinian government agency. Altman, himself, has navigated recent challenges. In November, the OpenAI board temporarily removed him as CEO, reinstating him two weeks later. More recently, Fortune reported that Altman quietly received $75 million from the University of Michigan for a new venture capital fund, raising questions about transparency, particularly following the launch of OpenAI’s signature product, ChatGPT. Asian tourIn recent weeks, the project development team behind Worldcoin had engaged in a tour of Asia. The objective of that mission was to gather market feedback prior to engaging in greater efforts to expand the reach of its World ID verification system within the region. To gauge market receptiveness to its product offering, the tour included meetups in major Asian cities such as Hong Kong, Seoul, Singapore and Tokyo. Up until mid-November, the Asian region accounted for 1.4 million World App sign-ups.The introduction of World ID 2.0 by the company on Dec. 13 led to a surge in the price of WLD. Over the course of the 48 hours that followed, it jumped from $2.47 to $4.23, a 71% increase. At the time of writing, the token unit price stood at $3.66. As Worldcoin navigates these challenges, the cryptocurrency industry will closely monitor developments, recognizing the broader implications for the startup’s innovative approach to digital identity verification.