#ecosystem

Neel Somani, CEO and founder of the L2 blockchain Eclipse, has temporarily reduced his public involvement in the project amidst numerous allegations of sexual harassment. He believes this step will help protect the project's reputation and minimize damage to other members of the ecosystem.

Unknown hackers have compromised NFPrompt, a platform that facilitates the creation of Web3 content with artificial intelligence. They managed to steal funds from the project's treasury and ecosystem fund. However, according to the developers' statement, the remaining assets, including user tokens, are completely secure at this time.

Avalanche blockchain is trailing in the stablecoin market, with a capitalization of just $1 billion. This situation is taking a toll on the DeFi applications' liquidity within its ecosystem and obstructing a steady flow of new users to the platform. To draw a comparison, the stablecoin market cap on Ethereum stands at $71 billion, while on Tron, it is $52 billion.

A new product named Ether․fi Cash is designed as an alternative to the often complex and costly off-ramp process of converting cryptocurrency to fiat money. The developers hope that this innovation will allow cryptocurrency holders to operate entirely within the blockchain ecosystem.

L1 blockchains Klaytn and Finschia have agreed on a merger to establish the largest Web3 ecosystem in Asia. The proposal was voted on by community members of both projects and passed with 95% in favor, as detailed in a press release.

SushiSwap has unveiled Susa, its latest venture in the form of a derivatives exchange, marking its debut in the Layer N L2 network as the ever-first trading platform of the ecosystem.