August 2024 Community Update

For a full recap of August, see all the exciting news below!

Development Updates

Inference, the AI/LLM layer of the Pastel Network, is now fully operational on the testnet, offering users the opportunity to explore and evaluate its cutting-edge capabilities. This AI-driven layer enhances the platform by providing advanced functionalities such as intelligent data processing and analysis. In the coming months, we will be launching Pastel Inference on the mainnet, making it publicly accessible and enabling users to harness the full potential of AI/LLM within the Pastel Network. Stay tuned for updates as we prepare for this pivotal upgrade!

Business Development Updates

Pastel Network is making significant strides with three key business development updates. Joining Polygon’s Solution Provider Network to integrate its technologies with Polygon’s Layer 2 scaling; partnering with LUKSO to enhance digital asset management through Cascade and Sense protocols; and exploring a collaboration with Kima Network to improve cross-chain asset transfers and liquidity for PSL tokens. These initiatives aim to boost interoperability, security, and functionality across blockchain ecosystems.

Pastel Network is now featured on Polygon’s Solution Provider Network (SPN), marking a key milestone in our growth. This partnership integrates Pastel’s advanced technologies — Sense, Cascade, and Inference — into the Polygon ecosystem, enhancing digital asset security, storage, and AI capabilities. The collaboration will facilitate easier integration of Pastel’s solutions for developers and creators on Polygon, fostering innovation and cross-chain functionality. This development positions Pastel as a major player in the blockchain space, paving the way for future growth and technological advancements.

LUKSO is advancing digital asset management by integrating Pastel’s Cascade and Sense protocols. Cascade, a decentralized storage solution, ensures data redundancy, permanence, and accessibility by allowing users to upload files, receive a Transaction ID and IPFS CID, and easily retrieve metadata. Sense, an AI-based validation protocol, verifies digital content authenticity, with users obtaining an API key, uploading data, and receiving a Transaction ID for authenticity proof. By combining these protocols, LUKSO enhances the security, accessibility, and reliability of digital assets, offering significant benefits for creators, developers, and investors through improved asset management and trust in NFTs.

Pastel Network and Kima Network are exploring a potential partnership to enhance cross-chain asset management and transactions. This collaboration aims to integrate Pastel’s PSL token and Kima’s cross-chain liquidity solutions, marking a significant step towards improved blockchain interoperability. Pastel Network, known for its NFT ecosystem and PSL token, focuses on transaction processing, governance, and incentivization. Kima Network excels in cross-chain liquidity, facilitating seamless asset transfers across multiple blockchains. The partnership will enable smooth PSL token transactions across different platforms, enhance liquidity management, and develop interoperability solutions for secure and efficient asset transfers.

Community Updates

We are thrilled to share some exciting updates from August as we continue to build and engage with our amazing community. This past month, we introduced several new initiatives and hosted insightful discussions to deepen our connections and provide even more value to our members.

One of the highlights of August was our collaboration with @naboxwallet! In celebration of this partnership, we launched a series of exclusive quests on the Foundry Platform. These quests offer a limited-time opportunity for our community members to earn XP and rewards. If you haven’t joined yet, make sure to head over to Foundry Quests and start earning before it’s too late!

We also joined a thought-provoking discussion in collaboration with @ReneVerse_io on the future of NFTs. The session, titled “The NFT Dilemma: Smart Business or Speculative Bubble?”, explored the evolving landscape of NFTs and whether they represent a sustainable business model or a speculative market trend. Thank you to everyone who participated and shared your insights!

Additionally, Jaxx Dwyer featured our co-founder, Anthony Georgiades, on his show for a deep dive into Web3 investing and infrastructure. The conversation covered key topics like Decentralized AI in Web3, Investing in Infrastructure over DApps, and Strategies for Building Successful Crypto Companies. It was a fantastic opportunity to discuss the future of Web3 and how infrastructure will play a crucial role in its development.

For those who missed it, Anthony was also a guest on @FintechTvGlobal, where he discussed the impact of AI-generated deepfakes on presidential elections. A big thank you to @RemyBlaireNews for hosting this crucial conversation. If you want to catch up, be sure to tune in here.

We’re also excited to announce the launch of Season 3 of our Soft Staking Rewards Program on Pastel Foundry! 🚀 Just like in previous seasons, you can earn PSL rewards simply by holding your tokens — no need to lock them up. With a prize pool of 5M PSL, this season runs from September 1 to September 30. Make sure to join now and maximize your earnings! Check out the details on Foundry Staking.

As we look forward to another exciting month, we are committed to providing even more opportunities for engagement, growth, and rewards. Stay tuned for more updates and thank you for being an invaluable part of the Pastel community!

Until next time, keep engaging, earning, and building with us! 🌟

About Pastel Network

Pastel Network is a fully decentralized, interoperable layer-1 blockchain serving as the preeminent protocol standard for non-fungible tokens (“NFTs”) and Web3 technology.

Pastel powers layer-1 & layer-2 blockchains, decentralized applications (”dApps”), or third-party enterprises with next-generation infrastructure including NFT copymint protection, permanent data storage, and more. Lightweight protocols delivered via Web3 open APIs like Sense and Cascade can be easily integrated across existing ecosystems. A wide range of applications can be built directly on Pastel, enabling developers to enjoy the NFT primitives, composability, plug-and-play modules, and security of the broader network.

Pastel is managed by world-class developers, cryptographers, and technologists, supported alongside an experienced and extensive network of marketers, influencers, and third-party agencies. Pastel is backed by key stakeholders including Innovating Capital, a prominent venture fund.

For more information on Pastel Network, visit https://pastel.network/.

August 2024 Community Update