Ecosystem Update April 24

Dear investors, 

We are thrilled to share with you our April 2024 Ecosystem Update. This extensive document explores the latest market trends, celebrates milestones within the Advanced Blockchain ecosystem, and highlights the newest developments within our organization. It provides a detailed overview of our advancements as well as the larger industry landscape.

Macro Industry View

The crypto market cap has been showing healthy development in April 2024, fluctuating within the range of $2.3 to $2.8 trillion.

The long-awaited halving event occurred on April 19, 2024, reducing the miners' reward by 50%. Despite widespread expectations of a rise in Bitcoin's price, it experienced a 13% decrease, ending the month above the $60,000 threshold. Nonetheless, when compared to the beginning of the year, Bitcoin continues to trend upwards, mirroring the overall market capitalization.

Historically speaking, previous halving events have typically been followed by a brief period of price correction. However, this pattern has contributed to a generally healthy price development, paving the way towards the next all-time high. 

Towards the end of April, Hong Kong introduced Asia's inaugural spot bitcoin and Ethereum ETFs, marking the region's first offering of cryptocurrency trading at spot prices for retail investors. Three firms, including China Asset Management, Harvest Global Investments, and Bosera Asset Management, issued these ETFs on the Hong Kong exchange. Following a similar course, the SEC has scheduled its upcoming deadlines for the approval of Grayscale's and VanEck's Ethereum spot ETFs for June 23-24, 2024, and May 23-24, 2024, respectively. The introduction of the Ethereum spot ETF is poised to drive further upward momentum in the overall market, given Ethereum's status as the world's second-largest cryptocurrency by market capitalization.

In addition to the prevailing market sentiment, April showcased advancements in security, notably with CertiK, a prominent blockchain security firm, releasing its latest report. The report highlighted a substantial decrease in losses from crypto-related hacks, with April recording a remarkable 141% reduction compared to the previous month. This trend underscores a growing emphasis on security within the cryptocurrency industry, which, in turn, has implications for the further adoption of this asset class.

Ecosystem Key Updates

Summary

• Peaq showcased a strong presence at TOKEN2049 with its ecosystem partners and announced its PEAQ token airdrop guideline followed by the community sale on Coinlist
• Composable unveiled its live deployment of the long-awaited Ethereum-IBC mainnet, followed by the IBC connection between Solana and Cosmos
• MYSO V2’s TVL has steadily increased since its launch, exceeding $2 million and released the official announcement of MYSO token airdrop
• Celestia’s integration with Arbitrum goes live, providing builders with an additional option for choosing a data availability layer 
• Panoptic team continues to enhance their product with the recent codebase security audit by Code4rena. 
• Neon Labs partners with SubSquid on incorporating data indexing capabilities into Neon EVM ecosystem
• Pendulum’s newly deployed bridge, Spacewalk, continues to enable further asset transfers between Polkadot and Stellar

Peaq

peaq made an exceptional presence at TOKEN2049 along with its ecosystem partners, including NATIX, ELOOP, Silencio, ATOR, penomo, Wingbits, and many others. 

Besides the main event, peaq teamed up with notable investors such as Cypher Capital, Ceras Ventures, and Outlier Ventures on organizing a side event,  DePIN 2049.

The ecosystem continues to grow, recent partnerships included: 

• Chirp Network joining peaq ecosystem to act as the connectivity layer for decentralized physical infrastructure networks (DePINs)
• ATOR joins peaq ecosystem to build the wold’s largest DePIN for online privacy
• Farmsent, a Web3 marketplace and DePIN for farmer product supply chain tracking, joins peaq ecosystem to decentralize the food industry
• Acurast joining peaq ecosystem to introduce a novel method of app hosting for DePINs building on peaq network 
• dTelecom, a DePIN enabling real-time interactions such as live chats, video conferences, and streaming, has integrated into the peaqosystem, transitioning from the Arbitrum ecosystem.

Lastly, PEAQ airdrop guidelines have been announced followed by the official announcement of the community sale which will be taking place on Coinlist. Read the full airdrop guidelines here. 

Composable

Composable team announced the live deployment of the long-awaited Ethereum-IBC mainnet, enabling seamless assets transfer between Ethereum and cosmos ecosystems. 

Shortly thereafter, an official announcement regarding the IBC connection between Solana and Cosmos has been announced.

What does this mean? This new development enables the transfer of a total of $229 billion in liquidity between these two main ecosystems. This comes right after the recent extension to Ethereum, establishing Picasso as the go-to solution for trustless bridging between leading blockchains, including Ethereum, Solana, Polkadot, and Cosmos, with more to follow.

MYSO Finance

MYSO V2's Total Value Locked (TVL) has been on a steady upward trajectory since its inception, recently surpassing $2 million.

The official announcement of the MYSO token (MYT) airdrop for early contributors, community members, and active protocol users has been made, marking the beginning of the path towards the official token generation event (TGE).

Celestia

The integration of Celestia with Arbitrum and the Nitro tech stack went live, offering developers an additional option for selecting a data availability layer alongside Arbitrum AnyTrust.

Celestia team was also present in TOKEN2049 and participated in a panel discussion around blockchain modularity. 

Panoptic

Panoptic team continues to enhance their product with the recent codebase security audit by Code4rena. 

Neon EVM

Neon Labs team has joined forces with Subsquid to integrate data indexing functionalities into the Neon EVM ecosystem. This collaboration enables developers and builders within the Neon EVM community to effortlessly query, access, and extract on-chain data using Subsquid's high-performance indexing infrastructure.

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Pendulum 

Pendulum’s newly deployed bridge, Spacewalk, continues to enable further asset transfers between Polkadot and Stellar. Furthermore, XLM holders can now leverage their liquidity and earn rewards through Pendulum parachain’s sister network on Jusama, Amplitude. 

ABAG Update

Similar to our portfolio companies, our team has attended TOKEN2024 along with peaq team, which has been quite successful in terms of enhancing our synergy and collaboration in general. Furthermore, our team has been actively involved in several intro meetings with potential early stage investment opportunities to expand our portfolio further.

In line with our commitment to improve transparency and communication, our team conducted a workshop covering the following key topics:

• Refinement of communication and marketing strategy 
• Company vision and roadmap for 2024 and 2025 
• Team expansion and involvement of new hires 

The development of ABX Analytics remains underway with an anticipated launch in the next few months. In parallel, our team has been collaborating closely with our auditors and accountants to ensure a release of our audited financial report and year guidance towards June 2024. 

As we move forward into the rest of 2024 and beyond, we remain dedicated to pursuing our objectives, broadening our business model, and enhancing transparency to meet the expectations of our investors. We deeply value your continuous support.

Thank you for being a part of our journey.

Best regards,

Advanced Blockchain Team