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Ignas | DeFi Profile picture
@DefiIgnas
Jun 30, 2022 • 13 tweets • 13 min read • Read on X
1/13

According to @dovemetrics, $3.9B was raised in June across 202 funding rounds.

Sharing 10 interesting #CeFi, #DeFi & #NFT projects that just raised from prominent VCs and you might not have heard on CT.

These are the projects to keep an eye during the bear market.

A🧵 Image
2/13

Capricon @capricornfund raised $200M from Malaysia-listed company MQ Technology.

Capricon is a multi-collateral stablecoin #DeFi protocol issuing $CUSD to connect #crypto to the real world.

Learn more -
capricorn.fund

cointelegraph.com/press-releases…
3/13

Unizen @unizen_io is building a #CeDeFi exchange to combine CEXes and DEXes to meet the needs of both retail and institutional traders.

Basically #DEX & #CEX aggregator.

Announced $200m USD capital commitment by Global Emerging Markets.

unizen-io.medium.com/weekly-pulse-1…
4/13

FalconX @falconxnetwork announced $150M Series D led by GIC and @BCapitalGroup at $8B valuation.

FalconX provides end-to-end insitutional trading services (trade execution, market making etc.)

falconx.io/media-press-re…
5/13

@AstraProtocol raised $100M Series A from @joinrepublic at $500M valuation.

Its mission is to equip all DeFi with a decentralized compliance layer, including KYC & AML capabilities.

Regulation coming for #DeFi and investors are getting ready.

accesswire.com/703394/Tier-1-… Image
6/13

@eulerfinance raised $32M led by @HaunVentures

Jump, FTX, Coinbase, Uniswap Labs have also invested.

Euler is a #DeFi lending and borrowing protocol on #Ethereum.

👀Euler has a token $EUL that trades at $78M FDV on Huobi and MEXC exchanges.

7/13

NFTPort @nftport_xyz is Stripe for #NFTs - bring your #NFT application to market in hours instead of months w/developer-first NFT APIs

Estonia based company raised $26M Series A by Atomico and Taavet+Sten.

coindesk.com/business/2022/…
8/13

Entropy @entropydotxyz is the first truly trustless protocol for #DeFi asset custody.

Raised $25M seed, led by @a16z.

Joined by Dragonfly Capital, Ethereal Ventures, Variant, Coinbase Ventures, Robot Ventures, Inflection, and the Komerabi Fund.

mirror.xyz/entropy.eth/mZ…
9/13

Skolem institutional-grade infra for #DeFi trading raised $20 million in Series A.

The round was led by Galaxy Digital.

Joined by Point72 Ventures, Jump Crypto, Fenwick and West, Morpheus Ventures, and Dragonfly Capital.

skolem.tech

businesswire.com/news/home/2022… Image
10/13

PartyDAO 🥳 @prtyDAO is a fun one.

Cannot afford to buy a #BAYC? PartyDAO allows to invest in #NFTs as a team.

Fundraised $16.4M seedround led by @a16z.

Definately a project to keep an 👁 on.

11/13

Earth From Another Sun (@PlayEFAS) is a science fiction action-oriented strategy role-playing game.

Raised $4.5M seed from @SolanaVentures , @AlamedaResearch and Lightspeed Ventures.

venturebeat.com/2022/06/16/ear…
12/13

These are just 10 out of 202 deals announced in June.

According to the BoE, crypto crash survivers will rise to become the technology companies of the future, like Amazon and eBay.

So, following well funded startups could be a good Alpha to prepare for the next bull run.
13/13

You can see all the publicly announced fundraising data on @dovemetrics website dovemetrics.com

Can sort deals by date, category like #DeFi, #CeFi, #NGT, #Web3 etc.

Or check active fund portfolios. Image

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Ignas | DeFi Profile picture

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More from @DefiIgnas

Ignas | DeFi Profile picture
Dec 20
1/ Stablecoins are a $100B+ market, but most of the value is captured by Tether and Circle, with users getting no upside.

This cycle we've got Ethena and now Usual enters the game.

A decentralized, transparent, and community-owned stablecoin protocol:🧵
2/ Usual started USD0 as a fiat-backed stablecoin collateralized by ultra-short US Treasury Bills.

They just partnered with Ethena to accept USDtb collateral for USD0.

It will have a 1:1 swap mechanism between USDtb, USD0, and sUSDe
3/ Usual also offers USD0++, a Liquid Staking Token that lets users stake USD0 for yield.

USD0++ pays daily yield in $USUAL tokens or or USD0 risk-free yield.

Currently 80% APY Image
Read 10 tweets
Ignas | DeFi Profile picture
Oct 22
The old token launch meta is gone.

Point-for-airdrops helped to attract TVL to boost valuations.

6 months ago Scroll could’ve traded at 3x/4x the valuation.

But the mask is off. Other protocols that fail to innovate on token launch will face the same.
The mismatch between expectations and reality is stark.

We started farming long time ago in a different era where low float was bullish: projects could pump tokens sky high on low circulation.

FDV was the meme.

Now, high expectations lead to disappointment.

Change token launch model!
But project teams won’t change it terms were locked months or years ago.

This lack of flexibility is pricey.
Read 4 tweets
Ignas | DeFi Profile picture
Oct 10
The Uni L2 launch isn't too surprising as Uniswap aims to be a platform, not just a dApp.

The first step was announcing Uniswap V4 with "hooks."

Think of them as "plugins" or "extensions" that allow for the execution of customized code during key events within a pool like:

• on-chain limit orders
• autocompound LP fees
• KYC

The "hooks" are like bringing App Store to the iPhone.

Like Apple no longer needed to develop iPhone apps themselves, devs can build on top of Uniswap.

Now, the L2 further solidifies their dominance and liquidity.

This is bullish for $UNI as Uniswap DAO now has many more options for token utility.

Notice how Unichain's announcement doesn't mention token utility: they are keeping the options for now and discussions in the forum will start. Fee switch is not the only option anymore.

The good news: Uniswap decided to build on OP stack and implement native interoperability to enable single-block, cross-chain message passing among Superchain L2s.

This at least partly minimizes liquidity fragmentation. But liquidity fragmentation will likely worsen in the short term.

Is it bullish for $ETH, though? At least Uniswap is not launching their own L1.

But I believe Ethereum must find ways to accrue value from all these L2s launching on it. It's getting more urgent than ever.Image
Wouldn't be surprised if Uni v4 first launched on Unichain. Perhaps only on Unichain before moving to other chains.

It would make sense for them.
Don't think Vitalik is happy with the Unichain.

He had said that "uniswap chain makes no sense"

It adds extra friction for bridging etc.

But @VitalikButerin, this is how Rollup centric roadmap looks like. Image
Read 4 tweets
Ignas | DeFi Profile picture
Oct 8
1/ Is Binance front-running TGE announcements?

Binance announced Scroll's launchpool and pre-market trading for Oct 11th without any official statement from the Scroll team.

Are teams caught off guard? Scroll is not the first protocol seemingly front-run by Binance.

Plus...
2/ Binance also announced some tokenomics details that should be communicated by team.

• Circulating supply at launch: 190M SCR (19%)
• Crazy 5.5% of the total supply goes to Binance whales for just 2 days of farming

I'll be annoyed if Scroll gives less than 15% to community. Image
3/ I know it's pre-market trading only, but Binance is where most token price discovery will happen.

Whales can pre-farm tokens, pump on low supply (only they hold tokens), and dump before the real TGE happens.

Genius plan.
Read 5 tweets
Ignas | DeFi Profile picture
Oct 6
1/ $EIGEN trades outside the top 100 tokens.

In contrast, Chainlink's $LINK has a market cap 11x higher, and $TAO is worth 7 times more than $EIGEN.

Adjusted for FDV, both $LINK and $TAO trade at twice the $EIGEN FDV.

Even $TIA trades at 2x the MC of $EIGEN. Why? Image
2/ It's even more surprising as Eigenlayer has become the third-largest protocol by TVL at $10B, nearly matching AAVE's $11B.

Despite this, AAVE trades at 3.7 times the value of EIGEN.

Although, when you adjust for TVL, AAVE is actually twice as cheap as EIGEN. Image
3/ $EIGEN is trading lower despite having at least 2x great mindshare on X over the past 6 months compared to all the above mentioned tokens. Image
Read 12 tweets
Ignas | DeFi Profile picture
Sep 25
1/ Want to grow and monetize your audience on X?

Sharing tips and insights from my personal journey to 100k followers:🧵
2/ I never planned to be an "influencer." It sounds so cheesy and cringey.

There’s a negative sentiment around influencers and the whole influencer economy.

Crypto is full of grifters who harm by shilling and dumping on their followers.
3/ I started out of boredom in the bear market of 2022.

Back then, I worked at a Korean CEX and the market had crashed.

No work, no excitement.

I started to prepare for a new bull run by researching, learning, and using Twitter for personal note taking in public.
Read 20 tweets

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