Franklin Templeton Launches First U.S.-Registered Blockchain Money Market Fund on Avalanche Network

Daily Top Performer — Io.Net (IO)



The SPX index was down by 0.89%, this downturn was led by sectors such as technology, consumer discretionary, and communication services. Investors are now looking forward to Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium for guidance on potential interest rate cuts. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 2.12% and 0.36%, respectively in the past 24 hours.

Today's top performer is IO, which surged 18.0% after Io.net and Chainbase collaborate to enhance AI and decentralized infrastructure.



Io.net (IO), founded in 2022, is a DePIN project on Solana that provides scalable GPU computing power to AI and machine learning companies, enhancing the capacity for handling complex, data-intensive models through distributed computing. Io.net has partnered with Chainbase to advance AI modeling and decentralized AI infrastructures. This collaboration, building on a recent alliance with NetMind.ai, aims to enhance Chainbase's Theia model via io.net's extensive GPU network, targeting applications across Web3 games and DeFi platforms. The partnership is poised to promote decentralized AI technologies industry-wide, aligning with Chainbase's upcoming network token launch. Since launching in November 2023, io.net has grown to over 25,000 nodes, significantly reducing costs and lead times for AI projects.



Check Out the Latest Prices, Charts, and Data of IOUSDT Perp and IO/USDT Spot!



Talk of the Town:

Franklin Templeton has launched its tokenized Franklin OnChain U.S. Government Money Fund (FOBXX) on the Avalanche network, marking a significant expansion in blockchain-based financial services. The $420 million fund, initiated in 2021, is the first U.S.-registered mutual fund to use a public blockchain for transaction processing and share recording. The fund's shares, represented by BENJI tokens, offer investors enhanced utility such as the ability to convert USDC stablecoin to fund shares and facilitate peer-to-peer transfers. This move is part of a broader trend where institutions are increasingly integrating blockchain, smart contracts, and tokenization to enhance financial infrastructure and workflows. Franklin Templeton's integration into the Avalanche network, known for its EVM compatibility and low transaction fees, aims to foster new blockchain-enabled innovations and attract both on-chain and off-chain capital and users.

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Bitcoin Spot ETF Flows:





Yesterday, The BTC Spot ETFs data shows that there was a net outflow of $10.7 million. Specifically, the GBTC experienced an outflow of $28.4 million, while non-GBTC funds saw an inflow of $17.7 million.



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Airdrop to Watch:

Aggregata, a decentralized platform that curates high-quality AI datasets, has launched an early alpha free airdrop featuring "Byte Points," which users can earn by interacting with ChatGPT. Participants need to download the Aggregata extension, sign up or log into ChatGPT, connect their Metamask wallet, and enter a specific invite code. A minimal amount of BNB is necessary for gas fees on the BNB Greenfield chain. The initiative encourages users to ask a variety of questions, with the quality of inquiries potentially influencing the number of Byte Points earned.