The 10th anniversary of .xyz is underway, and we continue to highlight .xyz’s versatility in hosting innovative blockchain and crypto projects that are driving the future of decentralized finance. From pioneering Bitcoin mining pools to advanced trading platforms for derivatives and digital assets, .xyz domains are synonymous with these groundbreaking initiatives. In this week’s #BlockchainThursday, we explore three visionary projects using .xyz to demonstrate the boundary-pushing possibilities in the crypto space.
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Ocean.xyz – Namecheap customer – (United States)
Ocean.xyz is the online home of Ocean, a Bitcoin mining pool focused on decentralization and miner sovereignty. Founded by longtime Bitcoin Core developer Luke Dashjr and backed by prominent figures like Block.xyz CEO Jack Dorsey, Ocean offers miners the option to choose from multiple block template policies. This initiative, known as the “Path to Decentralization,” helps miners gradually reclaim control over critical mining decisions, such as which transactions to include in blocks. By providing a permissionless, non-custodial system, Ocean aims to ensure transparency and eliminate the need for middlemen, allowing miners to see the block templates they commit their hashrate to before mining. This approach contrasts sharply with traditional mining pools, where decisions are made by a centralized few, often without miner input.
In November 2023, Ocean raised $6.2 million 1in seed funding from investors including Jack Dorsey, Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, and the Bitcoin Opportunity Fund. This funding supports the development and expansion of Ocean’s decentralized mining platform. By removing the middlemen and paying miners directly from the block rewards, Ocean aims to solve the centralization problems that purportedly affect the Bitcoin mining industry. With its transparent and non-custodial model, Ocean strives to bring significant improvements to the robustness and decentralization of the Bitcoin network. You can learn more by following Ocean on X/Twitter, joining the Discord, and by visiting Ocean.xyz.
Vega.xyz – EuroDNS customer – (Gibraltar)
First showcased on our blog in November 2019, Vega.xyz is the online home of Vega, a decentralized application (DApp) that enables financial investors to trade derivatives such as stocks, bonds, commodities, and currencies on the blockchain. By bypassing traditional market intermediaries, Vega.xyz empowers users to conduct transactions directly, reducing costs and increasing control. The platform offers fully automated, end-to-end trading services and built-in liquidity incentives that efficiently match traders and market makers. Founded by Barney Mannerings, Vega aims to bring the benefits of decentralized finance (DeFi) to the world of derivatives trading, leveraging blockchain technology to create a more transparent and equitable trading environment.
Since its inception, Vega has attracted significant investment and community support. In 2019, the platform raised $5 million in seed funding led by Pantera Capital, followed by an additional $43 million through a community token sale on CoinList in 2021, which saw participation from over 21,000 unique investors. Vega’s latest advancements include the introduction of decentralized perpetual futures on its blockchain, allowing community members to propose and vote on specific assets for market creation. 2This development, along with Vega’s existing cash-settled futures markets, showcases the platform’s commitment to decentralization and community-led governance. With over $850 million in trading volume since its mainnet launch, Vega.xyz is reshaping the DeFi space, offering innovative solutions that challenge traditional financial systems. You can learn more by following Vega on X/Twitter and LinkedIn, and by visiting Vega.xyz
Architect.xyz – Sav.com customer – (United States)
In August 2023 we featured Architect.xyz, the online home of decentralized finance (DeFi) platform Architect. The platform is aimed at streamlining the crypto market structure. Their technology “facilitates tens of billions of dollars in daily trading volume at microsecond latency, while managing clearing, settlement, and risk at scale.” Architect provides solutions designed to facilitate easier and safer access to decentralized protocols and centralized exchanges for trading firms, hedge funds, and professional investors. Founder and CEO Brett Harrison has extensive experience in high-frequency trading, having managed trading systems at Jane Street and Citadel Securities.
Architect offers a range of products designed for trading in global markets, covering both traditional derivatives and digital assets. These solutions include automated and manual trading tools, smart order routing, pre-built algorithms, and simplified access to digital asset platforms and decentralized protocols. The platform’s infrastructure meets the high standards of performance and security required by investment banks, high-frequency trading firms, and exchanges. Architect’s software runs directly on users’ computers, keeping sensitive information secure and private through local encryption. This design aims to limit risks such as information leakage, security breaches, or unnecessary delays, and can be customized to integrate with firms’ existing systems.
In January 2023, it was reported that Architect raised $5 million in seed funding, backed by investors such as Coinbase Ventures and Circle Ventures. 3In February 2024, Architect raised an additional $12 million in seed funding, led by Blocktower and Tioga Capital, with participation from investors including Coinbase Ventures, ParaFi Capital, and SVAngel. 4This funding round supports the launch of a derivatives brokerage within the next two months, allowing sophisticated investors to trade derivatives. Architect continues to focus on providing robust trading infrastructure for institutional investors, further establishing its position in the digital assets market. You can learn more by following the platform on X/Twitter @Architect_xyz and by visiting Architect.xyz.
These forward-thinking projects exemplify the innovative spirit of the .xyz community. Together, they highlight the immense potential of blockchain technology to create a more decentralized and equitable financial system. Stay tuned as we continue to showcase the pioneering efforts of the .xyz community in driving the future of decentralized finance.
1.https://www.prnewswire.com/news-releases/jack-dorsey-leads-seed-round-in-support-of-oceans-mission-to-decentralize-bitcoin-mining-globally—announces-launch-at-future-of-bitcoin-mining-conference-301999073.html
2.https://www.theblock.co/post/263704/vega-protocol-unveils-decentralized-perpetuals-on-trading-blockchain
3.https://www.coindesk.com/business/2023/01/20/ex-ftx-us-head-raises-5m-for-startup-months-after-exchange-collapse/
4.https://blockworks.co/news/brett-harrison-architect-fundraise
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