⚡ TFC Newsletter: 05/03/2023
Sui Mainnet Goes Live, Gitcoin Beta Round Explained, Privacy Focused Portfolio Tracking, Crypto Payments Tooling, and more!
💡 Intro
Sui Mainnet Goes Live: Sui (L1 blockchain) just launched their mainnet today after 2 years of development.
Sui raised $300M in late 2022 at a $3B valuation. It’s entering a hypercompetive L1 space with other VC darlings like Aptos.
This next week will tell whether it can effectively handle user traffic + whether projects & companies build on it.
Some important details from its launch:
SUI is up from $.03 → $1.32 for early adopters: Early adopters who joined their Discord prior to early February where able to buy in at a significantly reduced price from public sale.
🔥 Those same early adopters are up 44x on their investment already (why we emphasize being early users & adopters of Web3 projects!)
It currently is 2x as fast as Aptos by TPS. It also has more than 2,100 nodes operating across 43 countries.
More than 200 projects are on Sui, with many more likely to join this week following its launch
Gitcoin Beta Funding Round Is Here: Last week, Gitcoin launched their newest funding round, where partipants can pledge to Web3 projects and the Gitcoin foundation adds to their pledge.
Gitcoin is the most popular & largest OS platform that incentivizes bounties and grants to blockchain projects.
Why This Matters:
It’s a great way to discover new projects: Just like the past round months ago, there’s plenty of new projects in this latest round that may end up being huge in the future
It may lead to another airdrop: In the last Grants round, Optimism used wallets’ donation activity as an eligibility criteria for their airdrop. That meant that donators were eligible for free OP tokens.
👉 Note to TFC Rewards members: We’ll have a breakdown this weekend of which projects we think are worth donating to + how the donation process works, so you can qualify for a future airdrop (if there is one).
Stay tuned for that!
Pic from the Optimism Eligibility Criteria related to Gitcoin below:
Checkout the full list of Gitcoin projects through the link below:
Tangem / $8M — Tangem AG, a secure hardware wallet provider, raised $8 million in its latest funding round, led by Web3 venture capital firm Shima Capital, with other investors also participating. — FinSMEs
Swords of Blood / $1.2M — The Swords of Blood presale's second stage, a Polygon-based hack-and-slash RPG, has raised over $1.2 million. — Business 2 Community
Certif-ID / $1.7M — Certif-ID's funding round, a blockchain platform for global professionals, closed at €1.6M with NRW-Bank, Andreas Weinberger, and Malte Pollmann leading the seed investment. — PR Newswire
Nolus / $2.5M — Nolus, a Cosmos application, raised $2.5 million to address the inefficiencies in DeFi money markets. — AsumeTech
Entendre Finance / $4M — Entendre Finance, an automated accounting solution for Web3 businesses, raised $4M in seed funding led by Basis Set, Valhalla, Caffeinated, Moonpay, Alumni, MDig, and Alpine. — FinSMEs
Cetus / Undisclosed — OKX and KuCoin Ventures led Cetus' seed funding, a decentralized exchange and liquidity protocol on Sui and Aptos. — The Korea Herald
Welcome to TFC’s daily newsletter! Thanks for subscribing, we’re working hard to give you the best info on the most exciting crypto products.
If you’re a builder, investor, or crypto enthusiast, this will benefit you!
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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.
Rotki
"The portfolio manager that protects your privacy."
Type of Product: Portfolio & Analaytics
Purpose of Tool: Rotki is a privacy-focused open source tool that offers portfolio tracking, analytics, accounting, and tax reporting services. Unlike other similar services, Rotki does not require you to hand over your financial data to a closed source SaaS. Instead, it stores your data locally on your computer, ensuring that you have complete control over your financial data.
A Gitcoin Grants project that we’ve been following for a while.
Their privacy focused tool is open sourced meaning all the code can be read, which makes it unique compared to other portfolio trackers in the market.
Overview of Balances: The tool displays an overview of your balances across multiple platforms, exchanges, and protocols, giving you a clear picture of your financial status.
Graphs and Insights: Rotki provides graphs and insights into your portfolio's historical activity, allowing you to make informed decisions about your investment strategy.
Decoding EVM: Rotki can decode EVM transactions in a human-readable format and display them, making it easier for you to understand your transaction history.
Platform Activity History: With Rotki, you can pull, store, and analyze the history of all your supported platforms, and filter through them to find the information you need.
Customizable UI: Rotki is highly customizable, allowing you to change the look and feel of the user interface, set your main currency, language, accounting settings, and edit balances and history according to your preferences.
Accounting Analysis: You can perform accounting analysis for PnL (Profit and Loss) over any period of time using customized accounting settings and generate PnL reports.
Team / Funding / Backers / Other Info: Rotki, has announced its participation in the ENS round in addition to its ongoing main Gitcoin Grants round. This move brings the total funding for both rounds to be more than $1200.
Link to product | Link to TFC listing
IDriss
“A better way to interact in web3."
Type of Product: Crypto Payments
Purpose of Tool: IDriss is an open-source browser extension that simplifies the process of sending or receiving cryptocurrency. It allows users to use their email, phone number, or Twitter handle instead of the long and complicated wallet addresses.
Another cool tool from Gitcoin Grants: it lets you send crypto to emails, twitter handles, or phone numbers (provided the recipient has registered)
Simplified crypto transactions: With IDriss, users can easily send or receive cryptocurrency without worrying about the complicated wallet address. All they need is their email, phone number, or Twitter handle linked to their wallet address.
Easy setup: To use the extension, users can simply go to the IDriss website and link their email, phone number, or Twitter handle to their wallet address.
Dropdown menu for linked accounts: In a wallet or exchange, when users enter an email, phone number, or Twitter handle linked to their IDriss account, an extension creates a dropdown menu with corresponding wallet addresses. Users can select their desired address, which is then inserted into the input field and copied to the clipboard.
Team / Funding / Backers / Other Info: The last two Gitcoin rounds for IDriss were a huge success, with almost 7k individual contributions and a significant amount of $35k raised. This recent accomplishment was furthered by their latest Gitcoin Grant round, which brought in $2489.00 in funding.
Link to product | Link to TFC listing
XLog
“Write.Own.Earn"
Type of Product: On-chain Blogging
Purpose of Tool: XLog is an open-source and on-chain blogging community that is accessible to everyone. xLog is built on the Crossbell blockchain, which offers content creators the opportunity to own their content and earn tokens and rights transparently and fairly.
No more waiting for approval from editors or worrying about backend processes. Writers can publish their content instantly, allowing them to share their thoughts and ideas with their audience as soon as they come up with them.
Own Content on the Blockchain: xLog runs on the Crossbell blockchain, a decentralized platform that allows content creators to own their content fully. By publishing content on the blockchain, xLog ensures that content creators have complete control of their work.
The blockchain technology ensures that xLog cannot take away or modify content creators' rights and content, even if they wanted to.
Earn Tokens and Rights: xLog rewards content creators with tokens for producing great content. The blockchain technology ensures that the rewards are transparent and fairly distributed.
xLog DAO (Decentralized Autonomous Organization) promotes community growth by enabling content creators to contribute to platform governance and decision-making processes.
Team / Funding / Backers / Other Info: xLog, the open-source and on-chain blogging platform, has been in operation for four months. In that time, it has attracted 700 creators who have submitted 2,500 articles to the blockchain, resulting in over 2 million unique visitors. The platform has recently raised $2638.85 in funding through its most recent Gitcoin Grants round.
Link to product | Link to TFC listing
Plena Finance
"Bringing DeFi at your Fingertips”
Type of Product: Wallet
Purpose of Tool: Plena Finance is a user-centric smart wallet that aims to provide a seamless experience to users for managing their NFTs, metaverse, and web3 assets while ensuring the full custody of funds remains with the user. With Plena Finance, users can unlock the power of blockchain with just a tap, perform any action on blockchains, and pay transaction fees in any token.
One App For All Your Needs: With Plena Finance, users can manage all their assets in a single wallet, making it convenient for them to switch between different assets and chains.
30% cheaper transactions: With optimized smart contracts, Plena Finance ensures that users save up to 30% on every transaction because everything is done in just a single transaction, minimizing the need for multiple transactions to get confirmed.
Immediate access to funds: Plena Finance allows users to have immediate access to their funds, providing them with the flexibility to use their assets whenever they want.
Easy Wallet Recovery: Plena Finance has a straightforward wallet recovery process, ensuring that users can recover their wallets easily in case of any mishap.
Super Fast Transactions: With Plena Finance, users can perform any action on blockchains with just a tap, making it easy and hassle-free.
Team / Funding / Backers / Other Info: On January 16, 2023, Plena Finance achieved a significant milestone by surpassing 2 million transactions across all chains, with a total value of transactions exceeding $65 million.
Fast forward to March 13, 2023, Plena Finance announced the launch of its referral program, with rewards worth up to $1 million in $PLENA tokens. The Plena Smart wallet referral program allows users to earn significant rewards by sharing the app with others.
Link to product | Link to TFC listing
Hang | Community Tool | Link to product
HowRare.is | NFT Tool | Link to product
LiquidCollectibles | NFT Liquidity Maker | Link to product
Hyperspace | NFT Marketplace | Link to product
Pocket Universe | Privacy | Link to product
Magic Eden | Product Management Lead | Link to position
Chainalysis | Product Designer | Link to position
Blockdaemon | Sales Executive | Link to position
Quicknode | Senior Support Engineer | Link to position
Polygon | Treasury Manager | Link to position
Dune Analytics | Head of Growth | Link to position
Optimism | Governance Operations Coordinator | Link to position
Solana Foundation | Social Media Strategist | Link to position
Orb Labs | Marketing & Community Management | Link to position
Circle | Content Writer Intern | Link to position
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Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!