Today's News Recap
Kraken Expands - Kraken secures MiCA license in Ireland to expand in Europe.
ASX Probe - Australia’s securities regulator to investigate collapsed blockchain project on ASX.
Dogecoin Speculation - Dogecoin maintains 16 cent support amid Elon Musk’s X payments speculation.
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Messari Protocol Reporting
Messari's protocol reports give you a deep dive on the foundation and state of top crypto protocols, including key metrics and notable events. See the complete list of protocol reports here and get a preview of our latest report below.
Point tokenization and pre-TGE liquidity protocol
Offer liquidity for offchain points before token launches, solving airdrop risk and capital lockup issues
Converts offchain loyalty points into tradable ERC-20 tokens (pTokens), redeemable post-TGE via the Rumpel Vault
Live point farming strategies across 12+ partners including Ethena, Pendle, Karak, Zircuit, Symbiotic, and Mellow
Cross-chain DEX + bridge aggregator
Processed $538M in Q1 2025—its strongest quarter yet—across 914K transactions and 70+ blockchains
Supports 97 DEXs and 23 bridges; Mayan Finance, 1inch, and Jupiter were top contributors to volume
Daily active addresses jumped 70% QoQ, with major growth on Solana, BNB Chain, and Ethereum
Interoperability & cross-chain messaging across 130+ blockchains
Market cap +53% YoY to $245B; transfer volume hit $3.7T/month, outpacing Visa
OFT (Omnichain Fungible Token) standard allows stablecoins to maintain a unified supply across chains
25% of major issuers now use OFT, including Tether (USDT0), Ethena (USDe), PayPal (PYUSD), Ondo (USDY), Frax (frxUSD)
Two Bits
Connecting the Dots: Multichain Interoperability
By: Jeremy Koch
As capital flows into European markets, one project that has the potential to transform how the financial system grows is Quant Network. Known for its Overledger, an API gateway connecting siloed blockchains, Quant’s recent launches, Quant Flow, and Overledger Fusion, advance its role in bridging enterprise and decentralized ecosystems
Quant Flow, built on Overledger, is an API-driven programmable digital money platform that introduces PayScript, a rules engine for automating complex payment workflows. Think of PayScript as a spreadsheet on steroids: you set your rules once, and it automatically fires off everything from escrow releases to payroll across blockchains and legacy systems. By leveraging Overledger’s interoperability, Quant Flow can streamline a variety of use cases like cross-border payments, optimize liquidity, and reduce counterparty risk. Its enterprise-grade security and regulatory compliance make it ideal for banks and corporations, offering a scalable solution for real-time, multichain financial operations. Quant has participated in a few pilot projects with the likes of the Bank of England, the BIS, exploring the use of CBDCs/stablecoins.
In May 2025, Quant unveiled Overledger Fusion, a Layer 2.5 blockchain network. This multichain rollup solution enhances scalability and interoperability, connecting institutional finance with public blockchains. Unlike traditional Layer 2 networks, Fusion supports cross-chain transactions without 1:1 bridges, offering faster, cheaper, and secure operations.
Institutional-DeFi Bridge: Regulated entities can move assets on and off public chains under compliance controls, while DeFi participants gain network access with onchain audit trails.
QNT Token Utility: QNT settles fees, secures the network through staking, and grants access to Overledger services. KYC-verified nodes earn rewards by validating transactions.
Native Multichain Assets: Digital assets issued on Fusion can transfer freely among connected networks, reducing reliance on external bridges.
Quant’s interoperable solutions address scalability, compliance, and connectivity challenges, making it a linchpin for enterprises and DeFi. With Quant Flow and Overledger Fusion, Quant is shaping the future of programmable finance.
Messari Research
Subnet 33: ReadyAI
ReadyAI, the protocol behind Subnet 33, transforms raw, unstructured data such as PDFs, transcripts, and social posts into structured, machine-readable datasets for AI. Its miner-validator architecture outperforms GPT-4o and Mechanical Turk in accuracy and cost, delivering annotations at 660x lower cost. Now expanding utility with TAO Agent and gated analytics, ReadyAI is turning its alpha token into the access key for enterprise-grade AI infrastructure, while advancing Bittensor’s broader Dynamic TAO experiment.
