ChainCatcher news, the Solana ecosystem multi-signature management tool Squads announces that the Squads Protocol v4 code has now been fully open-sourced after running on the Solana mainnet for one year.

ChainCatcher news, Solana ecosystem multi-signature protocol Squads announced in an official blog post that Squads Protocol v5 will be officially validated and will go live on the Solana mainnet later this year, allowing users to have fine control over smart accounts, thereby accelerating the adoption of smart accounts and account abstraction on Solana and SVM. It is reported that the new version will introduce features such as synchronous transaction execution and will also include performance and memory improvements.

ChainCatcher news, according to official sources, the Solana ecosystem multi-signature management tool Squads has announced the launch of the Squads Policy Network (SPN), aimed at promoting the development of smart accounts through distributed policy execution.SPN will bring refined trading strategies to on-chain smart accounts in a trustless and decentralized manner. The network is supported by Jito (Re)staking.SPN is currently under development and will soon release a comprehensive white paper.

ChainCatcher news, Stepan Simkin, co-founder of Squads Labs, a multi-signature management tool for the Solana ecosystem, stated that over 1 million SOL have participated in staking through Squads smart accounts.

ChainCatcher news, according to The Block, the Solana ecosystem multi-signature protocol Squads has completed a $10 million Series A funding round, led by Electric Capital, with participation from Coinbase Ventures, Placeholder VC, RockawayX, L1 Digital, and Mert Mumtaz, co-founder and CEO of Helius and founder of Odyssey Ventures. Previously, the company had raised $12.5 million in three funding rounds.According to the Web3 asset data platform RootData, Squad is a multi-signature management tool based on Solana, designed to handle complex governance and fund management, with the mission of unlocking the full potential of self-custody, co-ownership, and coordination for teams emerging in Web3.Since its launch in 2021, Squads has stated that it has helped protect over $10 billion in assets, a significant increase from $500 million in October last year.

ChainCatcher news, according to The Block, Solana ecosystem multi-signature management tool Squads developer Squads Labs announced the completion of a $5.7 million strategic financing round, led by Placeholder VC, with participation from Multicoin Capital, Solana Ventures, Jump Crypto, Solana Labs co-founder Anatoly Yakovenko, Jito Labs CEO Lucas Bruder, and Helius Labs CEO Mert Mumtaz.Stepan Simkin, co-founder of Squads Labs, revealed to The Block that this is a financing round with token warrants, and he declined to comment on the valuation.Squads is a multi-signature protocol that helps cryptocurrency companies protect and manage their on-chain digital assets.

According to ChainCatcher, in an interview at Lisbon's Breakpoint 2022, Solana Labs CEO Anatoly Yakovenko stated that over the past year, Solana Labs has only deployed a portion of the $250 million crypto social and gaming fund, focusing on small seed round investments, with the amount deployed in the social media fund so far being "far less than half." Current social media products include Dispatch, Squads, Dialect, and Wordcell, with 37 games either launched or preparing to launch.It is reported that Solana Labs previously announced the establishment of two flagship funds at Breakpoint 2021: one is a $100 million fund focused on decentralized social media, and the other is a $150 million fund aimed at encouraging blockchain games. (The Block)