DRIFE decentralized ride hailing platform partners with Coinlist to test new Share2Earn campaign

DRIFE decentralized ride hailing platform partners with Coinlist to test new Share2Earn campaign

DRIFE, Web3 DePin (Decentralized Physical Infrastructure Provider) built on Sui Blockchain, operating a decentralized ride-hailing application in India and UAE, has collaborated with CoinList, the premiere token launch platform, to launch its incentivized testnet for DRIFE Share2Earn location data campaign on DRIFE app.


Users who participate will earn tokens by sharing their location data on the DRIFE App as they commute. The dynamic reward system tracks participants’ contributions based on the Commute & Galxe leaderboard standings.


DRIFE and CoinList will work together to test the new Share2Earn campaign before it is rolled out to the general public. The collaboration reflects the company’s involvement with its community as it develops innovative products and features, and is designed to attract a broader range of participants and test DRIFE’s network capabilities. Users can earn rewards through the Share2Earn program while contributing to the development and testing of the platform.


The collaboration also showcases the importance of decentralization, community engagement, and data sharing in the ride-hailing sector. It also highlights DRIFE’s commitment to transparency, user empowerment, and innovative monetization of data using blockchain technology.


Participating in the DRIFE CoinList incentivized Testnet program will help enhance location-based services and improve service quality with community feedback and testing. This is especially significant, given that DRIFE is not just designed to enhance the ride hailing experience, but also to monetize vehicle data, which will unlock new services, experiences, and economic opportunities for users.


Firdosh Sheikh, Founder and CEO of DRIFE states, “We are thrilled to team up with CoinList for this incentivized testnet program. This collaboration not only validates our vision for a decentralized ride-hailing ecosystem, but also empowers our community to play an active role in shaping the future of transportation.”

Reward tokens are on the SUI chain and will be available for claim post TGE, with a weekly linear unlock over a 3-month period.
Participation in this campaign is open to individuals from across the globe, with the exception of residents or citizens from the following countries: United Arab Emirates (UAE), Pakistan, Russia, China, Israel, the United States (US), and Palestine. This restriction is in place due to regulatory and compliance requirements. Individuals from all other eligible countries are welcome to participate, subject to meeting the campaign’s terms and conditions.

Sui Blockchain and Ghaf Group launch incubator hub in Dubai

Sui Blockchain and Ghaf Group launch incubator hub in Dubai

The Sui blockchain has launched an incubator hub in Dubai UAE in partnership with UAE based Ghaf Group which includes Ghaf Capital.

In an interview with CoinDesk, Kostas Chalkias, Co Founder and Chief cryptographer at Mysten Labs, the developer of Sui blockchain network, said he had a vision to bring an army of solution engineers to Dubai. He noted that for example if a government entity would want a blockchain based solution to a problem and instead of spending days to create the solution, this hub would have the capacity to build the solution as a smart contract more or less on the spot.

“When you’re preaching an idea we will be able to sit down for two hours and build the proof of concept there. No other blockchain can do a POC on the spot. This hasn’t happened before,” Chalkias said.

The hub is in collaboration with Ghaf Group, a blockchain firm in the region. Ghaf Capital Partners is one of the first locally managed blockchain / Web 3 only private capital firms based in Dubai, U.A.E and acts as an extended version of the team of all their partners and portfolio of companies so as to add value as strategic partners and growth accelerators.

Speaking to Lara on the Block, Feras Al Sadek, Co-Founder and Managing Director of Ghaf Group noted, “Ghaf Group is extremely pleased to join with the Sui team in launching the first official SuiHub in Dubai. The initiation of this innovative new resource for local builders and entrepreneurs represents a key milestone in the development of Ghaf’s venture studio arm. What began as a simple advisory has grown into a global initiative that will power technology advancement here for years to come.”

The Dubai hub will be first in a global series of hubs. “UAE is top for deals UAE but not the actual development,” said Chalkias. “The vision is to be the heart of hackathons and implementation even in Dubai.” Initially, the hub would be hoping to help the government with digitalization, he added.

“We are building solution engineering here in Dubai,” said Chalkias. “We want to invest in the region. We want to bring engineering capacity. I am bringing solution engineers. I want to run hackathons every month in Dubai where we don’t sleep for three days.

The announcement is not new, In May 2024, Co Founder of Mysten Labs, Kostas Kryptos Chalkias, announced on X (formerly Twitter) that he was in the midst of creating a modern cryptography and AI Innovation hub in both Dubai and Abu Dhabi.

As he noted, ” The aim is to intellectually grow the whole UAE community with deep tech education and brainstorming meetups. So deep that some hackathons will run non stop 24/7 for a whole week, with support from local hotel and office-desk owners for accommodation.”

He adds,”My goal is to gradually advance the whole MENA region in a unique tech excellence level + see technologically competitive startups to emerge. There is already a plan to publish some unique ideas around ZKP, MPC, FHE, Differential Privacy, Web3 UX, Anon Credentials, AI on chain, AI for audits, DePIN data compression and parallelization, Novel Key Management, Identity, Voting and Verifiable Execution.”

UAE based Klumi Ventures for Web3 partners with DWF Labs

UAE based Klumi Ventures for Web3 partners with DWF Labs

Klumi Ventures and DWF Labs, an investor and market maker have partnered to offer comprehensive strategic advisory, investments, and market-making expertise for companies entering the UAE market.

As per the press release, the collaboration provides essential support in go-to-market strategies, regulatory compliance, fundraising, and business development. Additionally, DWF Labs will facilitate OTC deals and launch a new options platform, offering Klumi Ventures’ clients access to crucial liquidity, tailored trading solutions, and varied yield opportunities.

Kristiina Lumeste, SEO and Founder of Klumi Ventures, commented, “DWF Labs is one of the leaders in the Web3 space and has seen notable success in Asia. The team is now expanding its footprint to the UAE and we are excited to support DWF’s top portfolio companies and contribute to the growth of their Web3 ecosystem in the UAE.”

Klumi Ventures and DWF Labs will collaborate to offer comprehensive strategic advisory services to companies looking to expand into the UAE market. This includes guidance on go-to-market strategies, regulatory compliance, fundraising, and business development to ensure successful expansion.
Leveraging DWF Labs’ expertise in investments and market making, the partnership aims to provide Klumi Ventures’ portfolio companies with access to crucial liquidity and capital resources, enabling them to scale effectively in the UAE’s growing digital asset market.
OTC Deals and Options:

DWF Labs will facilitate OTC deals, providing tailored solutions for clients seeking to trade large volumes of digital assets securely and efficiently. In addition, DWF Labs is soon launching its own full scale options platform where Klumi Ventures clients can access various levels of yields.
The partnership will launch a series of educational initiatives in the UAE, including workshops, aimed at sharing critical knowledge and tools needed to thrive in the UAE Web3 ecosystem. These initiatives will focus on strategies, networking, regulatory and legal requirements, and the complexities of operating within the UAE market.

“This partnership with Klumi Ventures represents a significant step forward in our shared vision to build a robust Web3 ecosystem that supports innovation and sustainable growth across the UAE region. Together, we are strategically positioned to drive the digital transformation in the UAE, empowering both new entrants and established institutions to thrive in this dynamic landscape,” said Andrei Grachev, Managing Partner at DWF Labs.

The collaboration between Klumi Ventures and DWF Labs stands as a testament to the UAE’s ambition to become a leading global blockchain hub. By combining their expertise and resources, Klumi Ventures and DWF Labs are set to foster innovation and accelerate Web3 adoption across the MENA region, delivering significant benefits to startups and established institutions alike.

Last month Klumi Ventures partnered with Fuze, the Middle East’s regulated digital assets and blockchain infrastructure provider to harness Klumi Ventures’ investment acumen and Web3 expertise alongside Fuze’s digital assets infrastructure to accelerate the adoption of Web3 technologies throughout the region.

RWA a tokenization platform partners with Blockchain L1 layers Hybrid

RWA a tokenization platform partners with Blockchain L1 layers Hybrid

RWA Inc. a tokenization platform, which according to its website has six trade licenses in the UAE, has partnered with L1 blockchain solution HYBRID. As per the medium post, the partnership will streamline the tokenization process and enable users to leverage advanced AI features. It is noted that RWA is neither licensed by FSRA in ADGM ( Abu Dhabi Global Market) nor by VARA ( Dubai Virtual asset regulatory authority).

In their website they claim to have licenses to buy and sell real estate, commodities, collectibles, private equity, and DePin ( Decentralized Physical Networks)

One of the primary features of RWA is its Launchpad. This unique marketplace includes everything needed to bring Real World Assets onto a blockchain.

RWA Inc has partnered with HYBRID is a layer 1 programmable blockchain focused on the growing AI agent sector. AI agents continue to be popular due to their capabilities and autonomininty. HYBRID combines these benefits with blockchain security and efficiency to elevate the UX and drive innovation

Users can leverage HYBRID’s unique features such as the Atlas AI agent to reduce their workload and enhance their blockchain analysis results. In this way, HYBRID enables anyone to conduct real-time analysis and create powerful data layers to power effective future AI solutions.
RWA Inc. and HYBRID seek to introduce a new era of convenience and efficiency via AI integrations. In the future, the RWA community will gain access to the most advanced AI tools via HYBRID features. In addition, HYBRID Users will gain the ability to create powerful AI tokenization protocols that empower anyone to convert regulated assets securely.

Prior to its announcement of partnership with HYBRID, RWA announced its partnership with Mantra Chain another Layer 1 blockchain, seeking to be licensed in the UAE.

Saudi Telecom Bahrain embraces DePin with Aleph Zero

Saudi Telecom Bahrain embraces DePin with Aleph Zero

Saudi Telecom Company Bahrain better known as stc Bahrain has partnered with Aleph Zero to explore DePIN ( Decentralized Physical Infrastructure network) use cases.

Aleph Zero has formed an alliance with stc Bahrain, Telecom operator in Bahrain. The collaboration with Aleph Zero is set to bolster stc Bahrain’s Web3 initiatives that will improve the breadth and depth of the experiences that are offered to stc’s customers.

The first step of the collaboration is for stc Bahrain to deploy validator nodes on Aleph Zero. At the same time, Aleph Zero will join stc’s Pearling Path initiative, a Web3 Launchpad Program designed to accelerate Web3 adoption in the Middle East. Pearling Path focuses on integrating blockchain infrastructure to address regional challenges and enhance economic growth.

As per the press release, the partnership will not only broaden stc Bahrain’s infrastructure portfolio, but will also bolster Aleph Zero’s network and adoption—which stc Bahrain recognized for characteristics such as privacy, scalability, security, and speed. Aleph Zero also stood out to stc Group’s subsidiary thanks to the team’s technological prowess and unique approach to tackling on-chain privacy and enterprise-grade scalability challenges.

Saad Odeh, stc Bahrain Chief Wholesale Officer noted, “Aleph Zero brings privacy-enhancing technology and a scalable, decentralized network that resonates with our vision for a seamless digital future. Privacy-enhancing web3 protocols and Telecoms are a perfect match.”
stc Bahrain also highlighted Aleph Zero’s innovative consensus protocol, AlephBFT, and the fact that it is a public network offering robust privacy technology through a blend of Zero-Knowledge Proofs (ZK-SNARKs) and Secure Multi-Party Computation (sMPC). The company is confident in Aleph Zero’s ability to deliver a secure, scalable solution, and lay the groundwork for private, verifiable transactions–without compromising sensitive data.

Antoni Zolciak, Aleph Zero Co-founder added,” stc Bahrain stands as a pioneer in the Gulf region, leading the charge in introducing Web3 and blockchain solutions to its extensive customer base. Aleph Zero is thrilled to collaborate with such a prominent player in the telecommunications arena, that shares our dedication to secure, scalable, and privacy-focused blockchain infrastructure. We look forward to seeing how our combined efforts will contribute to advancing a more secure, decentralized DePIN digital ecosystem across the Gulf region and beyond.”

In the past weeks stc Bahrain has signed several partnerships with blockchain entities including stc Bahrain operating nodes on Core Chain Bitcoin Layer 1 blockchain as part of its Web3 launchpad initiative. It also partnered with Lionscraft for blockchain and Web3 services.