⚡ Ledger Releases Recover Whitepaper, Web3 Tooling Landscape, Web3 Analytics, and more!

Discover the latest and greatest Crypto & Web3 products

Jun 22, 2023

Yesterday: Ledger released the much anticipated Ledger Recover Whitepaper, which includes a technical overview of Recover and the open-sourcing of the Recover algorithm, design, and cryptographic protocol.

The announcement of Ledger Recover was a major focal point for crypto investors and was met with much backlash. To try to regain favor of users, the Ledger team has added a 4 phase plan (shown above) which includes this whitepaper release.

⚡What This Means For Investors:

The technical design can now be analyzed by outside experts: Many experienced devs on CT have already been voicing opinions & concerns after reading it.
Ledger is keeping the same design: In the thread above, Guillemet reiterates that the original annoucnement details have largely stayed the same, about how the sharding will work. This means the same positives (and negatives) of the plan still exist.
Ledger Recover is coming in Q4: Ledger said that once they finish a number of steps (inlcuding open sourcing the code + tech architecture), they’ll release Recover. That plan is still on track.

Direct Link To Whitepaper

Even though we’re in a Bear Market, there’s plenty of apps + innovation being done on Web3 tooling!

It can be hard to track however, and so we’re always on the lookout for good infograph roundups.

This is a good recap of the Web3 Fintech space, link to full thread is here and the author goes over 50 different platforms.

Another good recap is here by Sorcel (a no-code Web3 site builder). It covers 40 teams beinding platforms that have no-code Web3 capabilities.

Open Foodie / $0.5M — Open Foodie, an AIGC-based NFT project, secures $500K in seed funding from investors including Hash Global, Starwin Group, Bitrise Capital, and Teraland. — Yahoo Finance
Mind Network / Undisclosed — Binance Labs, the venture capital and incubation arm of Binance, invests in Mind Network, a fully-encrypted network based on patented FHE framework. — Binance
Kryptoskatt / Undisclosed — Kryptoskatt, a platform for cryptocurrency tax calculations, reporting, and portfolio management, secures seed funding from Binance Labs and Gate Labs. — Binance
EDX Markets / Undisclosed — EDX Markets (EDX), a digital asset marketplace, concludes a funding round with participation from strategic investors including Miami International Holdings, DV Chain, GTS, GSR Markets LTD, and HRT Technology. — Business Wire
DappOS / Undisclosed — Binance Labs invests in DappOS, an operating protocol aimed at simplifying interaction with crypto infrastructures. The funding will support the development and optimization of dappOS V2. — Binance
Parfin / Undisclosed — Parfin, a modular platform for secure digital asset custody, trading, and management, secures a strategic investment from Accenture Ventures. — AP News
Arkon Energy / $26M — Arkon Energy, a fully renewable data center infrastructure company, secures $26 million in fresh capital from Sandton Capital Partners. — CoinDesk

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CherryPick

"Track smart money in real-time"

Type of Product: Analytics

Purpose of Tool: CherryPick is a crypto analytics tool that helps users to gain deep insights into on-chain activities. It provides advanced analytics and visualization for blockchain data, allowing traders to make informed decisions quickly. CherryPick helps people supercharge their trades with unique on-chain indicators and access to the latest market updates.

Features of CherryPick Include:

On-chain Analysis - Gain an edge in trading by leveraging high quality on-chain indicators for altcoins.
Smart Money - Follow top gainers' trading strategies and be ahead of the curve in discovering new potential investments.
Alerts - Receive customized alerts when whales, funds, or exchanges take action.
Growing list of supported tokens of 35+ - Get on-scale one minute data along with real-time APIs as per your needs.

New Update: Recursive Inscriptions: CherryPick offers API access to on-chain metrics for ERC20 coins at a monthly cost of $29 for standard users. Pro users can access unique address cohorts and data in hour resolution for $99 per month, while BRO users can view the highest possible time resolution for on-chain metrics at a cost of $999 per month. Whitelisted users receive discounted rates: $19 per month for standard, $59 per month for pro, and $599 per month for BRO.

Team / Funding / Backers / Other Info:

Link to product | Link to TFC listing

BracketX

“Range-bound products for DeFi"

Type of Product: DeFi

Purpose of Tool: BracketX by Bracket Labs is an app that provides leveraged structured products for DeFi users. It simplifies complex strategies into easy-to-understand payoff multiples, allowing users to purchase them in a few clicks. BracketX supports Arbitrum mainnet chains including Bracket, Channel and Epoch.

Leveraged fixed payoffs within a range – With Brackets, users can earn up to 10x their investment depending on the spot price reaching the claimable range in the given term.
Accruing value based on volatility – Channels are ideal for low volatility conditions as they accrue value as long as it stays in a certain range before expiry or breaching out of it.
“Stay in” or “break out” side battle – Epoch buyers can battle each other for higher payouts by taking either the “stay in” or “break out” side.
No custodial exchange risk – All positions purchased through BracketX are fully collateralized 1:1 without trusting any centralized exchanges.
Short learning curve – The simple user interface of BracketX allows users with any skill level to quickly understand derivative and option strategies without having prior experience.

Team / Funding / Backers / Other Info: Just yesterday on June 20th, 2023, Binance Labs invested in five promising projects as part of its Incubation Program. Bracket Labs was among the selected projects that were chosen from over 900 applicants this season. The projects cover a range of Web3 sectors including DeFi, infrastructure, tooling and middleware. Less than 2% of the applicants were admitted into the program. As part of the venture capital and incubation arm of Binance, Binance Labs made investments in the top-performing projects from Season 5.

Link to product | Link to TFC listing

STFX

“Invest in other people’s trades with 1 click"

Type of Product: Social Trading

Purpose of Tool: STFX is a unique DeFi and SocialFi protocol that spearheads the concept of short-duration, non-custodial, actively managed vaults. It enables users to create and invest in Single Trade Funds (STFs) that are tailored for individual trades. STFX allows traders to share their trade setup with others quickly, easily, and securely so that they can reap the benefits of their trading opportunities.

Stake2Boost & Leveling Mechanisms : The introduction of Stake2Boost and leveling mechanisms will enable larger vault capacities which amplifies potential returns .
Integration With DEXs : Numerous integrations with many more decentralized exchanges (DEXs) are planned , solidifying commitment to cater to diverse needs of its users .

For Managers:

Earn 15-20% of Profits: Managers have an opportunity to earn up to 20% of any profits generated from the STF.
Create a Single Trade Fund: With just $1, managers can create their own single trade fund on the STFX platform.
Pre-Existing Community: Managers can tap into a pre-existing community of investors via the platform's chat feature.

For Investors

Investable Trading Setups: Investors can browse through a list of instantly investable trading setups available on the platform.
Higher Potential Profits: Established managers provide investors with higher potentials for profitability when investing in an existing setup.
Alpha Receive Through Chatting with Traders : Investors can receive alpha by chatting with traders via in-dApp chat available on the platform .

Team / Funding / Backers / Other Info: For the month of May 2023, STFX introduced numerous new features for their dApp and native token. By the end of the month, over 15 million STFX tokens were staked and locked up by more than 1,400 users. The total invested amount was $447,887.11 and the total volume traded was $5,706,416.16. The community continues to grow rapidly with more benefits being added for stakers.

Link to product | Link to TFC listing

Link3

“Discover Web3 Content, Profiles, and Events!"

Type of Product: Web3 Social

Purpose of Tool: Link3 is a Web3 social network that enables users to create and verify identities, build meaningful relationships with communities, and explore and find events. It is a native social platform built on CyberConnect protocol. With its automated raffles, W3ST token standard, event analytics, auto-generated posters, and Discord & Twitter bots integration, Link3 provides an effortless way to run online events.

Explore and Find Events: On the Explore page, users can find featured events as well as today's upcoming events, notable speakers, newly added events with raffles available, and more.
My W3ST: W3ST (Web3 Status Token) is CyberConnect's ERC721 token standard designed with on-chain issuer reference for creating trustable identities from the bottom up. Uusers can view all collected tokens along with issuer information and which event they are from. They can also check if any other tokens are available to be claimed from past event participation history here too
Event Analytics: Traffic analysis of event page participants' info are easily accessible on Link3's comprehensive analytics after running an online event or gathering data during an ongoing one .
Discord & Twitter Bots: Automatically monitor your Web 3 online events using these bots that provide comprehensive analytics of listeners profiles along with stay times after running an event.

Team / Funding / Backers / Other Info: CyberConnect are the creates for Link3, which aims to assist dApps in creating personalized social experiences and building network effects.

On May 17th, 2022, CyberConnect raised $15 million in a Series A funding round. The decentralized social graph protocol was co-led by Animoca Brands and Sky9 Capital. Investors include Delphi Digital, Protocol Labs, IOSG Ventures, Tribe Capital, GGV Capital, Spartan Group, and more.

Link to product | Link to TFC listing