⚡ TFC Newsletter: 02/06/2023
Binance Launches Tax Tool, a16z Blocks Uniswap Deployment, Web3 Security Tooling, Blockchain Infra, Defi Analytics, and more!
💡 Intro
If you’re a Binance user in France or Canada: you’re in luck!
Binance has just launched a free to use tax tool that supports up to 100,000 transactions. 100k is way more than the typical free tier of tax tools (500 to 1k), which is great for Binance users.
TLDR Details:
Binance is rolling this out to other regions as well (its only starting in France and Canada.)
It supports staking rewards, crypto donations, spot trades, and more.
For users that trade solely on Binance, this tool should be enough to calculate taxes with. For traders that work on Binance + dexs + other cex: it’s likely that one of the popular crypto tax tools is needed.
Binance launching this tool will likely mean other CEX follow with their own in platform tooling, which is great for crypto traders & investors overall.
In an ongoing saga that’s taking over Crypto Twitter: a16z has blocked a pending Uniswap proposal to migrate onto BSC using Wormhole.
TLDR Details:
According to onchain data: a16z holds 4.15% of UNI tokens according to BubbleMaps. This makes them able to pass any proposal they want (minimum is 4%.)
a16z is using their governance tokens as they’re supposed to be (used to determine decisions for protocols).
Still: people (and specifically UNI holders) are mad as a16z can make any proposal they want go through, or shut down any proposal.
This is a warning to always check on-chain data to see who truly holds governance power for protocols.
VC Varun Datta's Truth Ventures has closed a strategicpartnership and investment deal with lnery, a decentralized database management solution powered by blockchain technology - Announcement
Digital Currency Group and Genesis subsidiaries reached an agreement with a group of the firm’s main creditors - CoinDesk
Egyptian Fintech MNT-Halan Secures $400 Million in Funding, Valuation Rises to Over $1 Billion - Bitcoin.com
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Delegate Cash
“A decentralized registry to protect your assets."
Type of Product: Security
Purpose of Tool: Delegate Cash is a decentralized registry that associates trusted wallets in order to provide a smooth buying and selling experience while protecting users from theft-related risks. Delegate Cash is a trustless delegation standard that is fully on-chain, fully enumerable, fully independent, fully immutable, and fully verifiable.
Secure Valuable Onchain Assets: Link cold wallets with hot wallets, allowing the hot wallet to act on behalf of the cold wallet, like crypto power-of-attorney.
Easier User Onboarding: Derisk new user acquisition from those who have already delegated.
Increased Security: Make it safer and easier for existing users to interact with your app from hot/mobile wallets without risking security.
Versatility: Can be incorporated into login flows, token-gated minting & claiming, gaming actions, DAO governance, and more.
Team / Funding / Backers / Other Info: Delegate Cash is revolutionizing the way people interact with digital assets. As of this writing, the platform has over 7,450 wallets delegated, protecting over $438 million in assets. It is being used by major players such as ForgottenRunes, ArtBlocks, TokenProof, PunksClub, and InvisibleFriends for a variety of purposes, such as Halloween airdrops, gated minting processes, wallet verification, and ownership verification.
Link to product | Link to TFC listing
BlockJoy
"Blockchains are Web3. Why is your infrastructure still Web 2.0?"
Type of Product: Node Infrastructure
Purpose of Tool: BlockJoy is a Web3 infrastructure company that enables node operators to deploy and manage blockchain nodes on any type of infrastructure, anywhere in the world. Their platform is designed to reduce operational costs by up to 80% when compared to traditional cloud providers, making it an ideal solution for blockchain nodes.
Runs on Bare Metal Servers: Their platform allows customers to run their nodes on bare metal servers, providing cloud-like convenience without the cloud-like cost.
Fully Managed: takes care of everything to ensure that every node remains updated, online, and running at peak performance.
Low Cost: drastically reduces operational costs when compared to traditional cloud providers, making it an affordable solution for running blockchain nodes.
Team / Funding / Backers / Other Info: BlockJoy recently raised $12 million from seed and Series A rounds. The investment was led by Gradient Ventures, Draper Dragon, Dragon Roark, Active Capital, Borderless HNT and Renegade Ventures. The team is currently working with a handful of crypto companies and plans to support 25 different blockchains by the end of its beta launch.
Link to product | Link to TFC listing
SubQuery
“Query decentralized data faster."
Type of Product: Data Indexing
Purpose of Tool: SubQuery is an indexer for the next generation of dApps, built to be fast, scalable, unified, and decentralized. It allows developers to focus on the core development of their applications, without needing to build a custom backend for data processing. SubQuery supports a variety of blockchains, including Polkadot, Cosmos, Avalanche, Algorand, and soon Ethereum.
Multi-Chain Support: SubQuery supports Polkadot, Kusama, Avalanche, Algorand, and Cosmos, with Ethereum support coming soon.
Speed: SubQuery is designed to be fast and efficient.
Decentralization: SubQuery is powered by the SQT token and will be launching a SubQuery Kepler (canary) network.
Backed by Strong Investors: SubQuery is backed by strong investors such as Arrington XRP, Hypersphere, DFG, and Skynet Trading.
Mainnet Launch: A TGE and mainnet launch are planned for mid-2023.
Team / Funding / Backers Info / Transaction Amount: SubQuery has seen remarkable growth in the past year, with their Telegram followers increasing to 18,000, Twitter followers to 58,000, and Discord to 80,000. This has brought the total community size to 165,000 members.
In addition, SubQuery has successfully completed its testnet, called “The Frontier”, with over 2,000 indexers participating in three rounds.
Link to product | Link to TFC listing
APY Vision
"Data platform for DeFi investors and protocols”
Type of Product: DeFi Analytics
Purpose of Tool: APY Vision is a liquidity tracking platform that helps you get the most out of your liquidity pool and yield farming investments. It allows users to monitor their liquidity pool performance and impermanent losses across chains and AMMs, manage their pools and vaults, and calculate their net profits.
No Registration Required: With Damus, you don’t need to provide a phone number, email or name to create an account. Get started right away with zero friction.
No Servers Required: As all messages are distributed via decentralized relays, there is no need to run any infrastructure and no single points of failure.
Programmable: Easily integrate bots that automate your life or business. Get notified when your servers go down, repost to your team and collaborate in realtime.
Earn Money: With Damus, you can tip your friend’s posts and stack sats with Bitcoin & ⚡️, the native currency of the internet.
Link to product | Link to TFC listing
HowRare.is | NFT Tool | Link to product
Invisible College | Education | Link to product
Freckle Triva | Metaverse game | Link to product
Anmol Network | Dev Tool | Link to product
DeBank | Portfolio | Link to product
Aptos Labs | Business Development Lead | Link to position
Stacks Foundation | Blockchain Engineer | Link to position
Polygon | Software Engineer | Link to position
ClubRare | Growth Marketing Manager | Link to position
Outlier Ventures | Head of Investments | Link to position
Binance | Senior Data Engineer | Link to position
Ava Labs | Research Analyst | Link to position
Chainlink | Engineering Manager | Link to position
OpenSea | Senior Software Engineer | Link to position
Risk Labs | Head Sales Engineer | Link to position
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Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!