Web3🌗Wednesday Frontiers: BitGo’s Reward Stablecoin, $30B AI Fund, Wintermute’s Prediction Platform, and Decrypt Media on Sui Protocol Walrus

Welcome to Wednesday's Web3 Frontiers! Today, we’re diving into the latest breakthroughs shaping the future of technology and finance. First up, BitGo is set to revolutionize the stablecoin market with its innovative USDS, offering rewards for liquidity providers. Meanwhile, Microsoft and BlackRock are teaming up for a colossal $30 billion fund to boost AI infrastructure. In the world of predictions, Wintermute is launching a cutting-edge multi-chain platform to bet on election outcomes. And don’t miss how Decrypt Media is securing its content on the Sui Protocol Walrus. Let’s explore these exciting developments!

1. BitGo unveils reward-bearing USDS stablecoin

BitGo is set to revolutionize the stablecoin market with its upcoming USDS, a dollar-backed stablecoin that stands out by rewarding institutions for providing liquidity. Unlike traditional stablecoins, USDS will offer incentives through returns from reserves, promoting a more open and innovative system. Backed by short-duration Treasury bills and cash, USDS aims to attract significant liquidity and is targeting $10 billion in assets within a year. Expect USDS to launch on major exchanges, marking a new era in stablecoin utility and rewards.

BitGo to Enter Stablecoin Market With Reward-Bearing USDS Coin

BitGo says USDS is an “open participation” stablecoin that provides rewards to institutions for providing liquidity to the ecosystem.

CoinDeskSam Reynolds

2. Microsoft and BlackRock debut $30B AI infrastructure fund

BlackRock and Microsoft are teaming up to launch a massive $30 billion fund dedicated to boosting artificial intelligence infrastructure. This investment will focus on building advanced data centers and energy projects necessary to power AI models, which demand extensive computational resources. With additional support from Nvidia and Abu Dhabi-backed MGX, the fund aims to enhance AI supply chains and energy solutions, potentially mobilizing up to $100 billion with debt financing. This initiative will primarily target investments in the U.S., alongside partner countries, marking a significant step in advancing AI capabilities and infrastructure.

Microsoft, BlackRock form group to raise $100 billion to invest in AI data centers and power

Microsoft, BlackRock and Abu Dhabi’s investment vehicle are aiming to initially raise $30 billion to invest in AI data centers and the energy to power them.

CNBCJordan Novet

3. Wintermute launches multi-chain prediction platform

As the 2024 US presidential election approaches, Wintermute is launching a groundbreaking multi-chain prediction platform. This new platform allows users to place bets on election outcomes using TRUMP and HARRIS tokens across various blockchains. By integrating decentralized finance (DeFi) features, it eliminates the need for asset transfers between chains, reducing costs and complexity. The platform supports permissionless token listings, enhancing accessibility and liquidity. Backed by notable partners like Bebop and WOO X, and leveraging Chaos Labs’ tamper-proof data, Wintermute’s platform aims to revolutionize prediction markets with seamless, multi-chain functionality.

Wintermute Launches Multi-Chain Prediction Platform Ahead of 2024 US Presidential Race

As the 2024 US presidential election nears, market maker Wintermute is set to introduce its multi-chain prediction platform.This platform will integrate decentralized finance (DeFi) capabilities to en

InsightsBeincrypto

4. Decrypt Media goes on Sui Protocol Walrus

Walrus, built on the Sui network, is set to revolutionize content storage by securely archiving Decrypt’s news articles, videos, and photos. This decentralized storage solution creates a tamper-proof, cost-effective archive, addressing issues like digital decay and link rot. By storing content as immutable data files, Walrus ensures that valuable information remains accessible and intact, unlike traditional storage methods prone to data loss and link failures. This innovation not only safeguards media integrity but also supports Web3 monetization efforts, promoting seamless integration with decentralized apps and blockchain assets. It’s a crucial step toward more reliable and affordable content storage.

Decrypt Media Articles and Videos to Be Stored on Sui Protocol Walrus - Decrypt

Decrypt will begin storing its articles and videos on Sui protocol Walrus, the companies announced on Wednesday from Token2049 in Singapore.

DecryptDecrypt Staff

That wraps up today’s exploration of Web3 Frontiers! From BitGo’s game-changing USDS stablecoin to the massive AI fund from Microsoft and BlackRock, we’re witnessing some truly transformative shifts. Wintermute’s multi-chain prediction platform promises to reshape how we engage with elections, while Decrypt Media’s move to secure content on Sui Protocol Walrus marks a significant step in preserving digital integrity. Stay tuned and keep following us for more updates and insights into the dynamic world of Web3 and beyond. Until next time, keep innovating and exploring!

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