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Ignas | DeFi Research 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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More from @DefiIgnas

Ignas | DeFi Research Profile picture
Apr 25
Forbes research published a list of 20 crypto billion-dollar zombies.

These are L1s with high valuation but "are unproven and have little utility other than for speculative crypto trading."

Notable mentions: $STX, $ICP, $FTM, $ADA, $EOS... Image
Some fun quotes:

"Ripple Labs is a crypto zombie. Its XRP tokens continue to trade actively, some $2 billion worth per day, but to no purpose other than speculation" Image
"Ethereum Classic (ETC) holds the unique distinction that it actually is the original Ethereum chain. [...]

Ethereum Classic has a market value of $4.6 billion but generated fees of less than $41,000 in 2023." Image
Read 7 tweets
Ignas | DeFi Research Profile picture
Apr 22
1/ Bitcoin halving & Runes launch - ✅

Up next? Stacks Nakamoto upgrade.

Here's why it matters and Stacks protocols to follow: 🧵
2/ Growing interest in Bitcoin L2s narrative and multiple tokenless protocols on Stacks make it a good bet to focus attention.

The upgrade brings Bitcoin finality and greater MEV resistance, but that's boring technical stuff that degens don't really care about.
3/ You see, Stacks wasn't fun - transactions were as slow as on Bitcoin itself.

If you have patience to wait 10 minutes for a transaction, you can trade Ordinals, BRC20s, and Runes on Bitcoin itself.

Stacks just couldn't compete as a degen playground with Bitcoin.
Read 12 tweets
Ignas | DeFi Research Profile picture
Apr 17
1/16 Runes Protocol launches in 2 days: Ready to FOMO in?

Hold up.

There are few reasons to stay bearish for now:
2/16 Pre-rune token market is hot.

Runestone, RSIC, and PUPS are already pumping, promising holders shiny new Rune token airdrops.

And FOMO threads keep coming...

But, like the NFT frenzy post-JPEG reveal, the market could soon cool off.

Here's why:
3/16

• As Bitcoin transaction fees skyrocket, small traders may struggle and get disillusioned

• Runes might not initially revolutionize BRC20 trading experience as UTXOs and BRC20s trade similarly to NFTs.

For example, Unisat and Ordinal Wallet Rune UIs are same as BRC20s.
Read 16 tweets
Ignas | DeFi Research Profile picture
Apr 9
1/13 Karak, the first Eigenlayer's rival, has entered the restaking games.

If Eigenlayer restaking terrifies you, brace for twice the degeneracy.

Here's why: 🧵
2/13 At first look, Karak seems like a copy of Eigenlayer:

dApps on Eigenlayer are known as Actively Validated Services (AVS), while on Karak they are termed Distributed Secure Services (DSS).

AVS/DSS are new protocols secured by restaked assets.
3/13 EigenLayer already has a number of prominent AVSes:

• @EthosStake
• @witnesschain
• @Hyperlane_xyz
• @theblockless etc...

Karak shared DSSes "will be unveiled in the coming weeks, including core services incubated by Karak contributors."
Read 14 tweets
Ignas | DeFi Research Profile picture
Apr 6
Don't fade the Bitcoin ecosystem.

I had 0 #BTC before this bull run.

Now, Bitcoin and BTC assets are a big % of my portfolio.

Yes, BTC won't pump 100x, but BTC Ordinals/Runes will and already do!

I bought Nodemonke at 0.03 BTC, now it trades at 0.47 BTC - up by 1466%.

Ansem just pumped $PUPS yet most degens trade it on Solana when on Bitcoin Unisat marketplace PUPS trade at a discount.

With Runes protocol expected to bring memecoin trading degeneracy to Bitcoin in just 14 days, it's time to learn about BTCFi.

If Runes & BTCFi sounds too complicated, just learn by doing!

There's big knowledge asymmetry to profit from: learn before degens join the party later on.

Just do it:

1) Install @XverseApp, @unisat_wallet or/and @okxweb3

2) Get some BTC: Bridge from ETH via @THORChain or @garden_finance

3) Buy any Ordinal on @MEonBTC (can find below $100 USD) just to learn how it works

4) Trade any BRC20 on @unisat_wallet marketplace

5) Try Runes testnet on @XverseApp and mint Runes to get ready for Runes mainnet.

BOOM! You're already ahead of 98% of CT.

You'll get many questions on the way: go ask the community.

We are all learning here.
I was like Crypto Nova: Didn't see much value in BTC for max gainz.

But I chase Zero-to-One innovations in crypto and Ordinals/Runes is the one this cycle.

Playing with all Bitcoin dApps and NFTs has been fun (and profitable) so far.

If you're new to Ordinals, I wrote a blog post on how it all started and why I am so bullish on it:

Read 4 tweets
Ignas | DeFi Research Profile picture
Mar 7
1/8 Hot market: No one wants to hold stablecoins.

On-chain leverage is spiking, driving up demand for stablecoins.

Here's how crazy the market is and the best opportunities it offers: 🧵 Image
2/8 On-chain traders are bullish:

Ipor Index reveals borrowing rates soaring from 1%-2% to around 37% for USDT on Aave v2 in just a year.

Traders borrow stablecoins to either buy more crypto or explore ever increasing on-chain opportunities. Image
3/8 Despite BTC touching ATH, aggregate stablecoin supply (red line) is still lagging behind.

Only USDT's supply passed the 2020-21 bull market peak with USDC still way below last cycle's top.

Demand for stablecoins is hot, hot, hot! Image
Read 8 tweets

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