⚡ TFC Newsletter: 01/12/2023
New MetaMask Scam Popping Up, NFT Lending Explained, Decentralized Climate Data, Web3 Dao Tooling, Social Wallet, and more!
💡 Intro
Yesterday: Metamask put out a series of tweets addressing a new scam popping up called: Address Poisoning.
If you perform a lot of on-chain transactions and like us, sometimes copy-paste addresses in your txt history for future use, its worth knowing how this scam works so you can avoid it in the future!
How It Works (from the Metamask blog post):
You send a regular, everyday, nothing-to-see-here transaction to a friend.
The scammer, who has software that monitors transfers of certain tokens (usually stablecoins), notices. They use a 'vanity' address generator (there are many accessible with a quick web search) to create an address that closely matches yours (sometimes, it'll match your friend's).
The scammer sends a transaction of negligible value from another account to the dummy one they created, that closely matches yours. Usually these are transfers of zero tokens. With this, they've poisoned your wallet.
Since their dummy address looks so similar to yours, it's entirely possible that, the next time you need your address, you might inadvertently copy their address from your transaction history and paste it elsewhere. Naturally, if you paste their address by accident, you'll send funds to them and not yourself.
How To Avoid The Scam:
Always double check recipient addresses before you execute txts
Avoid copying addresses from your transaction history, and, if you do, check them very carefully.
Proof Collective analyst WarDaddyCaptial put out a great tweet thread documenting the NFT Lending Ecosystem, with a number of great takeaways
The whole thread is worth reading if you’re into NFT lending, but some noteworthy points:
In 2022 there was $523mn in total loan volume, up ~1100% from 2021
There are >31,700 cumulative users across the top 7 lending platforms
P2P (peer-to-peer) marketplace volume has consistently exceeded P2Pool platforms until mid-Dec 2022
While the lending scene may be slightly saturated, gaining exposure to the vertical indirectly is possible via lending DAOs and liquidity routing protocols.
Alkimiya raised $7.2 million in funding as it seeks to attract miners and stakers for hedging cash flows - Coindesk
Open Forest Protocol raises $4.1M in pre-seed to build the world's first on-chain forest analytics platform - Tweet
Exactly Protocol raised $2M in seed funding to build out their decentralized, non-custodial automonous marketplace for crypto lending - Tweet
SFTX, a social trading innovating in SocialFi, has recieved funding from Ava Labs’ Blizzard Fund - Tweet
Crypto market maker CyberX raises $15 million led by Foresight Ventures - TheBlock
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Wonder
"Where web3 goes to work"
Type of Product: Project Management
Purpose of Tool: Wonderverse is a DAO project management tool and Web3 credentialing platform that helps DAOs effectively manage projects on-chain by providing assignments, completions, and reward mechanisms. It also offers other Web3 features, such as token gating, on-chain resumes, and batch payment to DAO contributors.
Assignments & Completions: allows DAOs to assign tasks, track progress, and reward completion. The platform also features a completion timeline and progress bar to help DAOs stay organized and on top of their projects.
Token Gating: allows DAOs to set up token gating, which is a process that ensures only holders of a certain amount of tokens can access certain resources.
On-Chain Resumes: allows DAOs to store and track the credentials of their members on-chain. This ensures that all members of the DAO have up-to-date information on the credentials of their colleagues.
Batch Payment to DAO Contributors: allows DAOs to make batch payments to contributors quickly and easily. This helps DAOs save time and money when it comes to rewarding their contributors.
Team / Funding / Backers / Other Info: Wonderverse has recently announced the completion of its Series A funding round. The round was led by Polychain Capital and included other backers such as Stable Universal, Placeholder, and Blockchange. The funding round managed to raise an impressive $2.5 million. Wonderverse also just crossed 50,000 members on their platform.
Link to product | Link to TFC listing
dClimate
“The First Decentralized Network for Climate Data"
Type of Product: Data Marketplace
Purpose of Tool: dClimate is a decentralized climate information ecosystem that facilitates access to data related to climate, the environment, and sustainability. By providing a platform for businesses, developers, and data publishers to access essential climate information, dClimate enables the creation of data-driven technology solutions that help communities achieve climate resilience.
Data Selection: dClimate provides access to a wide selection of data from all over the globe, including temperature, rainfall, soil moisture, carbon, and more.
Data Publishing: Data publishers can easily upload their own data and share it with others using the publishing wizard.
Climate News & ESG Data: The app also provides up-to-date news on climate and ESG, as well as trending data from around the world.
Team / Funding / Backers / Other Info: dClimate has closed a 3.5 million seed round with support from CoinFund, Multicoin Capital and Republic Labs. dClimate was designed by Arbol Inc. to help businesses protect themselves from various forms of weather and climate risk. This platform is now available on Polygon Mumbai.
Link to product | Link to TFC listing
Easy
“Discover Web3 Together."
Type of Product: Social Wallet
Purpose of Tool: Easy is the first social wallet that helps users explore web3 in a fun and safe way. It connects users with friends and communities, and offers real-time feeds of blockchain activity.
Multi-Chain Support: Easy supports Ethereum and Polygon, with more chains coming soon.
Signal: The community-sourced rating system protects users from scams and other risks.
Profile & Showcase: Easily create a profile and showcase your favorite NFTs in the Mosaic Gallery.
Real-Time Feeds: Discover the latest blockchain activity with real-time feeds from friends and communities.
Team / Funding / Backers Info / Transaction Amount: The Easy Company recently secured $14.2 million just a few days ago on January 10th, 2023, in seed funding to launch its flagship product Easy led by Lobby Capital, Relay Ventures, 6th Man Ventures, Tapestry VC, Upside Partnership and Scribble Ventures, and included angel investors from the social and Web3 sectors. Easy is now in beta and available on iOS and Android.
Link to product | Link to TFC listing
Utilify
"Unlock token-gated experiences, safely”
Type of Product: Web3 Community Tooling
Purpose of Tool: Utilify is a blockchain-enabled platform that enables users to prove ownership of NFTs/tokens from multiple wallets and access any utility without the need to sign any transaction. It is built for brands and communities to facilitate token-gating and create unique events and campaigns.
Verify Ownership: Verify ownership of tokens without signing a single transaction. Add multiple wallets from any supported chain and get your tokens verified quickly and securely.
Secure Tokens: Your tokens remain safe as no one can move them. Utilify only reads the blockchain data of your wallets for token verification.
Create Events/Campaigns: Create events and campaigns with your own rules. Utilify allows you to access real life events and online perks without any hassle.
Team / Funding / Backers / Other Info: Utilify is a 3-month-old startup that has already surpassed 1000 registered users. Recently, they collaborated with Kriptomeda, a leading Blockchain and Cryptopara Media Company in Turkey. As part of their partnership, Utilify created special reward NFTs that could only be claimed by select users who received a special QR code along with their reward on the stage at the ceremony.
Link to product | Link to TFC listing
Revise | Builder Community | Link to product
Aztec | Events Tools | Link to product
Phaver | Dev Tool | Link to product
MetaFlyers | NFT Tool | Link to product
Bonfire | DEX | Link to product
CoinList | Data Engineer | Link to position
Uniswap | Community Lead | Link to position
Reddit | Solidity Engineer in Crypto Security | Link to position
Okcoin | Product Manager | Link to position
Fireblocks | Senior Financial Analyst | Link to position
Interlay | Community Manager | Link to position
Niftys | Account Manager | Link to position
MetaStreet Labs | Solidity Engineer | Link to position
Nethermind | DevOps Engineer | Link to position
Oasis Protocol | Head of Marketing | Link to position
Zora | Finance Lead | Link to position
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Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!