⚡ TFC Newsletter: 01/20/2023
DeFi vs NFT Analytics Explained, Open Cover Defi, Crypto Wallets, Web3 Newsletter Platforms, New Futures Tool, and more!
💡 Intro
Happy Friday! 🥳
Another strong week for crypto & web3, including many new fundraising rounds.
Let’s hope next week is just as strong: have a good weekend and see you all Monday!
What do you think new wallets typically transact with for their first TXT: DeFi or NFTs?
While DeFi was the clear winner until summer 2021: NFTs have since taken over, shown through this great visualization from ElectricCapital which shows the percent of wallets that first transact with DeFi vs NFTs.
Until DeFi shows strength again like it did during the first half of the bull run: this will likely stay the same.
We love hearing your feedback each week as it helps us know which products/topics/stories to cover in the following week!
If there’s any blockchains / tools / topics you’d like covered in the following week: let us know through a reply to the email, and we’ll add it to the schedule for next week!
Hyper Oracle Closes $3M Pre-Seed Round Led by dao5 and Sequoia China Seed Fund - Medium Announcement
DeFi Platform Architect_xyz raised $5M in a seed funding round. Coinbase Ventures, circle_ventures, svangel, SALT Fund, P2P, Third King Venture Capital and Motivate Venture Capital are among investors - Techcrunch
Free-to-use blockchain koinosnetwork raised $0.5M in a pre-seed funding round led by BlockchainFF with participation from Splinterlands - Link
Hashport raises about 900 million yen from Sumitomo Mitsui Banking Corporation and UTEC. Hashport primarily conducts NFT-related business and blockchain operations - Link
SphereOne raises $2.5M for cross-chain crypto payment platform - VentureBeat
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If you’re a builder, investor, or crypto enthusiast, this will benefit you!
Note: Do you have a product or tool you’re building? Have one you’d suggest? DM us on twitter! We’re always happy to feature products from the TFC community.
OpenCover
"Compare cover providers to derisk your portfolio or provide liquidity to earn yield."
Type of Product: DeFi Analytics
Purpose of Tool: OpenCover provides data & analytics to help you make better DeFi decisions.
Data: OpenCover compiles data from on-chain events, smart contract state and transaction traces.
Reporting: They provide comprehensive cover reports, comparing cover providers in order to derisk DeFi portfolios.
News & Insights: Their analytics and insights provide the latest information on the DeFi cover industry.
Yield: OpenCover also helps users provide liquidity and earn yield from cover.
Team / Funding / Backers / Other Info: Opencover is tracking 87.1% of DeFi cover activity by Total Value Locked (TVL) across six different blockchain networks. According to the tracking data, the total value locked across DeFi cover providers is $267m, with active cover amounting to $257m. Additionally, 17,419 covers have been sold, 525 claims have been made, and 355 payouts have been issued.
Link to product | Link to TFC listing
Cypher
“Your all-in-one noncustodial wallet"
Type of Product: Wallet
Purpose of Tool: Cypher is an all-in-one noncustodial wallet that allows users to buy, sell, manage, bridge, and stake crypto across 12+ blockchains. Cypher provides users with complete control and ownership of their assets, while also allowing them to connect to thousands of web3 applications across multiple blockchains securely.
Full Control & Ownership: Cypher gives users full control and ownership of their assets, meaning no third-party entity can seize, freeze, use, or access their assets.
Access to Web3 dApps: Cypher allows users to securely connect to thousands of web3 applications across multiple blockchains.
Bridge Across 12+ Chains: Cypher allows users to bridge their crypto assets across multiple blockchains at speeds that are 10x faster and cheaper than DEX bridges.
Buy Crypto Instantly: Cypher allows users to purchase their favorite cryptocurrencies with just a few easy clicks.
Team / Funding / Backers / Other Info: Cypher announced a $4.3 million seed round, led by startup accelerator Y Combinator. The equity deal, which closed in June, also saw participation from OrangeDAO, Samsung Next, and former Coinbase CTO Balaji Srinivasan. Cypher had taken part in Y Combinator's winter batch the previous year.
The startup intends to use the funding for further research and development, product development, and to pursue possible partnerships with banking institutions.
Link to product | Link to TFC listing
YOLOREKT
“Welcome to the FUTURE$"
Type of Product: Trading Platform
Purpose of Tool: YoloRekt is a decentralized short-term prediction market platform built on blockchain technology. It enables users to predict the short-term fluctuations of popular assets such as Bitcoin, Ethereum, Tesla, and GameStop and place bids on the outcomes. It features a hyper-gamified setup with social-fi elements and allows users to start and wrap games within minutes.
Intuitive Interface: YoloRekt has an easy-to-use interface that is designed to help traders quickly and accurately place their bets.
Leverage: YoloRekt has built-in incentives, royalties, and leverage up-to 100x (soon x1000) - with no minimum balance required.
Hyper-Gamified Setup: YoloRekt incorporates a hyper-gamified setup with social-fi elements to make the experience more engaging.
Short-Term Prediction Market: YoloRekt allows users to predict whether the final price will end up above or below a strike price and place bids on the outcome.
Speed: YOLOREKT allows users to start and wrap games within minutes.
Team / Funding / Backers Info / Transaction Amount: YoloRekt has launched the private beta of their new Leveraged Trading experience, FUTURE$. This new platform offers deep liquidity, 100x leverage, no KYC, incentives for users to make money, and a completely refreshed experience.
YOLOREKT is currently limiting access to a number of partners, insiders, and VIPs, and is offering royalties of 1% of 10% fees on earned profits. They are also working on a public release in mid January 2023, with 1000x leverage, as well as making design and engineering improvements.
Link to product | Link to TFC listing
Paragraph: Referral Program
"Create, publish, and share web3-native blogs and newsletters.”
Type of Product: Web3 Newsletter Tool
Purpose of Tool: Paragraph’s Referral Program is a web3-native platform that helps newsletter creators set up referral programs to incentivize and reward readers for helping them grow.
Features:
Sharemint Integration: Paragraph integrates with Sharemint to make it easy to set up a web3-native referral program.
Rewards: Paragraph allows you to reward your readers with access to a gated newsletter, gated Discord, or physical goods based on the number of referrals.
Airdrops: Paragraph also allows you to airdrop NFTs after a user reaches a number of referrals.
Easy to Use: Paragraph is easy to use, making it simple to set up your own referral program.
Team / Funding / Backers / Other Info: Just 2 days ago on January 18th, ShareMint announced its official support for Paragraph.xyz for its Referral Program. Best of all, ShareMint is available for free to all Paragraph newsletter authors.
Paragraph, founded by Colin Armstrong in 2021, has raised a $1.7 million pre-seed round, led by Lemniscap, with participation from Binance Labs, FTX Ventures, Global Coin Research, Sfermion, Seed Club, and many others.
Link to product | Link to TFC listing
Upstream | DAO Creator Tool | Link to product
Hyperspace | NFT Marketplace | Link to product
Gomu | NFT Creator Tool | Link to product
Ramp network | DEX | Link to product
Juno | Banking | Link to product
CoW Protocol | Data Analytics Team Lead | Link to position
WalletConnect | Kotlin / Android Engineer | Link to position
Subspace Labs | Quality Assurance Engineer | Link to position
Usual Company | Senior Web3 Developer | Link to position
Aurora | Legal Counsel | Link to position
Monad Labs | Developer Relations Engineer | Link to position
DXdao | Treasury Manager | Link to position
Offchain Labs | Blockchain Developer | Link to position
prePO | UX Engineer | Link to position
Safe | Senior Data Analyst | Link to position
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Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!