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Jinse Finance reported that Standard Money, the developer of the algorithmic stablecoin USDsd based on BNBChain, announced the completion of an $8 million funding round. This strategic round was led by YziLabs, with participation from an undisclosed exchange, Cryptocom, and Animoca Brands. USDsd is a yield-seeking algorithmic stablecoin, designed with reference to Tether’s USDT, the world’s largest stablecoin by market capitalization. The funds from this round will be used to support the mainnet deployment of Standard Money and to expand its liquidity partners and global operations. Algorithmic stablecoins are a type of token that maintains a peg to a target asset through smart contracts and economic incentive mechanisms, thereby managing circulating supply.

On November 3, it was announced that the Ethereum Foundation has launched a new Ecosystem Support Program (ESP) grant initiative. This program will continue to offer grants open to everyone, but will now operate through two channels: a wishlist and calls for proposals. These channels are designed to address the most urgent needs in the ecosystem as identified by various Ethereum Foundation teams. The former will set high-level goals to guide key areas of work, focusing on broader themes rather than specific projects; the latter emphasizes clear deliverables or measurable outcomes, including predefined scope, requirements, and expected results.