Magma Finance Completes $6 Million Funding Round, with Participation from SevenX Ventures

**April 2 Update** Per official data from Hyperliquid (via https://app.hyperliquid.xyz/join/NTOD), April 1 activity included: - HyperCore repurchasing 43,749.54 HYPE at an average price of ~$36.77; - 26,657 HYPE distributed to stakers and 24 validating nodes; - A net permanent burn of 17,092 HYPE (offsetting repurchases against distributions) → ~17,000 HYPE in daily net deflation. Extrapolating this daily rate suggests ~6.15 million HYPE in annual deflation. By comparison, Solana adds ~25.19 million SOL yearly via staking and validator rewards (driven by inflation). Notably, HyperCore’s repurchase efficiency is negatively correlated with price—designed to smooth supply pressure across market cycles.

On April 2, per Cointelegraph, Alabama Governor signed the Decentralized Nonprofit Organization Act—making the state the second, after Wyoming, to grant legal status to decentralized autonomous organizations (DAOs). The legislation provides DAOs with legal standing and limited liability protection, granting them full legal entity status to own property, sue and be sued, enter into contracts, and shield individual members and managers from personal liability. Eligibility requires a DAO to have at least 100 members and operate for a common nonprofit purpose, such as governing a blockchain network or smart contract system. The policy head at a16z Crypto stated that decentralized governance is core to crypto’s future, and this act gives decentralized communities certainty to build, govern, and scale in the real world. A similar West Virginia bill has passed the House and is awaiting the governor’s signature.

April 2nd: Binance Alpha will launch an airdrop at 4:00 PM today, per an official announcement. Users with at least 242 Alpha points can claim their tokens on a first-come, first-served basis until the airdrop pool is exhausted or the event concludes. Additional details will be released shortly.

April 2nd — Axe Compute, the Nasdaq-listed firm (ticker: AGPU) built on the Aethir decentralized GPU network, released its fiscal 2025 annual report Tuesday, becoming the first publicly traded company to disclose progress on its decentralized computing power business to institutional investors via annual performance filings. Key report highlights: - Total executed contract value over the past 30 days: ~$12 million - Estimated Q2 monthly revenue: $835,000 - Enterprise customer count: More than 20 Post-report trading saw AGPU notch a single-day intraday high gain of 152%, with daily volume surging to 900x its 20-day average and total daily turnover topping $300 million. All enterprise computing power deployments are delivered via the Aethir network, which spans 94 countries, 200+ nodes, over 435,000 GPU containers, and has cumulatively delivered 1.8+ billion computing hours.

Renaiss Protocol, the collectibles infrastructure project on BNB Chain, has surpassed $7 million in total trading volume as of April 2nd. Since its Beta launch in November 2025, the platform’s trading volume has seen steady growth, a momentum that has persisted to date. Recent data shows the platform’s trading volume accelerated sharply in March, driven by mechanisms like the Infinite Gacha (TCG Infinite Gacha Machine). It added roughly $3 million in monthly volume—crossing $7 million just 10 days after hitting the $6 million mark. Alongside its growth, Renaiss recently completed its latest community reward round, disbursing over $40,000 to 400+ users to recognize their tangible contributions to community growth and ecosystem outreach. This fuels a positive cycle between participation and platform activity. Official disclosures note cumulative community rewards and user feedback initiatives have topped $163,100 since Beta launch, covering USDT, physical cards, card boxes, and pro

April 2nd — Per HyperInsight monitoring (via https://t.me/HyperInsight), a “Strategy Whale” (0x94d) took a nearly $80 million “long oil, short BTC” paired position amid surging oil prices and a simultaneous crypto market pullback, raking in over $3.6 million in daily profits from both sides. The whale began building the position yesterday afternoon, just after BTC briefly topped $69,000 and as Brent/WTI crude both dropped below $100. After entering with a large initial position, it gradually added to holdings via small incremental entries, finishing the full position early this morning. The two core positions are: - 20x Brent Oil Long: Notional $39.5M, avg entry $100.8, unrealized profit $2.3M (35%); - 40x BTC Short: Notional $38.7M, avg entry $68,761, unrealized profit $1.36M (140%); With both positions now profitable, the wallet hasn’t closed any trades yet. It’s also expanded its portfolio by adding a natural gas (NATGAS) long and S&P 500 short—those two paired positions