⚡ Polygon 2.0 Is Coming, Crypto.com Closes USA Institutional Service, and More!
Discover the latest and greatest Crypto products
💡 Intro
🥳 Happy Monday!
Chaos in the markets continued over the weekend from the SEC announcement, with volume dipping 30% across most major centralized exchanges.
As always, we’ll keep you updated on the latest developments around platforms & exchanges (including in our 2nd story today).
But first: a note that Dan Romero (Farcaster founder) put out this tweet saying Farcaster invites are changing from DM to another mechanism (likely harder to get in if we had to guess.)
As a reminder: Farcaster is a top decentralized social protocol that is worth joining. The discussion from Web3 founder & builders on there is top notch (even during the Bear Market). If you want to get in, we’d recommending DMing him here on Twitter.
Amidst all the SEC chaos, Polygon dropped an announcement this afternoon that Polygon 2.0 is coming this summer.
Core changes will be, according to the CEO of Polygon:
Unifying the protocols: seamless usage across zkEVM, PoS, & Supernets
It will feel like you are using a single chain
Token evolution - Establish long-term decentralized governance
This is looking to be a massive update for users, traders, and investors of Polygon and as details come out at the dates above, we’ll be sure to keep you all updated.
Following the suspension of listings on Robinhood and Binance US last week, Crypto.com (another major CEX) came out with this major announcement over the weekend.
Crypto.com will no longer serve institutional clients in the US after suspension of the service starting June 21st.
Why This Matters:
Expect to see more suspensions of services for major exchanges & platforms: This will likely continue for at least the next month.
Also: a full list of the tokens named as securities by the SEC is below:
Gensyn / $43M — Gensyn, a provider of blockchain-based computing resources for AI platforms, has raised $43 million in a Series A funding round led by venture capital firm a16z. — CoinDesk
BlockSpan / $1.4M — BlockSpan, a provider of user-friendly API solutions for blockchain integration, has raised $1.4 million in a pre-seed funding round led by Innovation Works. — The Business Journals
eZKalibur / Undisclosed — eZKalibur, a community-driven DEX and Launchpad, has successfully formed undisclosed strategic partnerships with Orbiter Finance, Overnight.fi, Based Finance, and Impermax Finance.— Tweet
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Linkdrop
"Distribute NFTs with links and QR codes"
Type of Product: NFT Tool
Purpose of Tool: Linkdrop is a platform that provides smart tools for distributing NFTs with claimable links and QR codes. Through Linkdrop, users can increase their product engagement and grow their user base.
Adding NFTs to physical products by creating a QR set in the QR manager, downloading those QRs and sending them to be printed before including them on the product. When users unpack the product they can then scan the QR code which directs them to a Claim app where they can claim their NFT.
Distributing NFTs via emails using create Campaign feature which generates Claimable links and codes in CSV format. These links direct users straight to the claiming page when followed, or bring up an input field if accessed through start page link.
Integrating Linkdrop into products using its SDK which allows triggering claim link generation and providing manual download for link batches as CSVs. It also enables building complex experiences that lead to NFT claiming process whenever needed.
Running NFT based referral campaigns - coming soon!
Team / Funding / Backers / Other Info: Linkdrop has been adopted by major companies like Ledger, Infinite Objects and Zerion to leverage non-fungible tokens (NFTs) for customer engagement and rewards programs.
Zerion uses Linkdrop's claim links to create an invite engine for their new extension while Infinite Objects shares NFTs in email receipts with customers who made a purchase. Ledger offers scan-to-claim QR codes with their hardware wallets for users to redeem physical NFTs.
Link to product | Link to TFC listing
Swapper
“A payable smart contract that converts incoming tokens into a single output token"
Type of Product: Payments Splitter
Purpose of Tool: Swapper by 0xSplits is a payable smart contract that converts incoming tokens into a single output token. It allows users to receive payments in their chosen currency, regardless of the form it was sent.
Swapper also provides a payable wallet called Diversifier which enables income streams to be diversified into tokens of choice. Additionally, DAOs can diversify their holdings before they enter the treasury.
Stackable and Modular: Swapper is stackable, modular smart contract that works entirely onchain and operates at gas.
Oracle: A secure oracle with sensible settings needs to be used by the user for desired behavior from the Swapper contract. Splits currently offers one oracle which uses Uniswap v3 TWAP to price assets.
Token Balances: Tokens received by Swapper are held as balances until Flash is called upon by either owner or third party.
Owner Control : The owner has full control over deployment including changing beneficiary, oracle, pausing contract and executing arbitrary transactions at their own will.
Team / Funding / Backers / Other Info: Swapper is a new smart contract developed by 0xSplits last June 8th, 2023. 0xSplits is a set of composable, open-source(opens in a new tab), and audited(opens in a new tab) smart contracts that make it easy to split onchain payments. 0xSplits is partnered with Sound.xyz, Protocol Guild, Chaos.build, Heds.app, Quantum.tech, AirSwap, and 1stDibs.
Link to product | Link to TFC listing
Meanwhile
“Life insurance. Now in bitcoin."
Type of Product: Decentralized Life Insurance
Purpose of Tool: Meanwhile is a licensed and regulated life insurance business based in Bermuda. It offers products designed to comply with US tax code for favorable tax treatment, specifically tailored to US citizens. Meanwhile is the first and only life insurance company denominated in Bitcoin, offering customers an alternative way to leverage their wealth. Features of Meanwhile include:
Guaranteed Growth: Customers can receive guaranteed growth on their policy over time.
Tax-Advantaged Liquidity: Customers may access liquidity through low-interest loans and partial withdrawals without incurring a large tax burden.
Policy Certainty: Premiums remain fixed throughout the duration of the policy, and death benefits are guaranteed.
Generational Wealth Transfer: Customers have the option to pass their wealth on to future generations without incurring a heavy tax burden.
Comprehensive Support Service: Meanwhile provides customers with ongoing support and guidance throughout the life of their policy.
Team / Funding / Backers / Other Info: On June 6, 2023, it was announced that Meanwhile had successfully raised a total of $19 million in two seed rounds. The first round was co-led by OpenAI CEO Sam Altman and former Stripe executive Lachy Groom, while the second was led by Gradient Ventures.
Meanwhile's co-founders, Zac Townsend and Max Gasner, lead the company as CEO and CTO respectively.
Link to product | Link to TFC listing
Family
“Your crypto. Family style."
Type of Product: Crypto Wallet
Purpose of Tool: Family is a user-friendly, self-custody Ethereum wallet designed to make cryptocurrency usage easier and more secure. It allows users to store their private keys locally on their device, and provides a variety of additional security features such as requiring 2FA via biometrics for sensitive actions like signing transactions.
With Family, users have full control over their wallet keys and are given the responsibility to securely store them without sharing with anyone else.
Easy switch from another wallet: Users can easily import an existing wallet into Family by using either a secret recovery phrase or private key.
Built-in Decentralised Exchange: Family features a built-in decentralised exchange that enables trading between different tokens without leaving the app.
Multi-sig Support: Multi-signature support allows multiple parties in different locations to approve a transaction before it is processed so that all parties involved are aware of what is happening at every step of the way.
Crypto Trading without leaving the app: The ‘Swap' section in the app enables users to manage and diversify their crypto portfolio within Family without having to leave the app.
Team / Funding / Backers / Other Info: Family is the latest product being developed by Los Feliz Engineering, a software company founded by designer Benji Taylor and backed by notable investors such as Naval Ravikant and Elad Gil. The core team at LFE, including Chief Technology Officer Joseph Smith and Design Engineer Lochie Axon.
Link to product | Link to TFC listing
Solana | Communications Manager | Link to position
OKX | Data Analyst - Trading Team | Link to position
Illuvium | QA Web Tester | Link to position
Evmos | Software Engineer, Full Stack | Link to position
Chainflip Labs | Senior Full Stack Engineer for Web3 | Link to position
Paxos | Product Manager – Tokenization | Link to position
LayerZero | Business Development Representative - Defi | Link to position
Chiliz | Twitter Specialist | Link to position
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Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!