Over US$201.4 million of investment capital were raised last week amongst a series of funding rounds by a number of key Web3 startup projects, with the largest of these belonging to a metaverse startup, Futureverse, which raised US$54 million, and RISC Zero, a provider of zero-knowledge proof tools for developers which raised US$40 million. But infrastructure projects took the lead with over six projects being fundraised to the tune of US$119.5 million.
SkyBridge Capital, a global investment firm and alternative asset manager, offered to provide monetary relief to tech shareholders in exchange for their shares in a tech startup. According to its founder Anthony Scaramucci, the company is willing to buy secondary shares from early investors and former employees of tech unicorns, and the move could be part of Skybridge’s Unicorn Recovery Fund efforts which was launched earlier in February with plans to raise US$50 million.
Bitcoin prices on the market dipped below the $30,000 mark last week as traders show uncertainty on its price direction after the token traded sideways without breakthrough in the last six weeks. Despite the recent XRP ruling, the euphoria that pushed the token price above $31,000 in mid-July did not last. On the other hand, oracle platform Chainlink saw its token rise after it released news about its Cross-Chain Interoperability Protocol.
Nexus Mutual, a blockchain-based platform that offers decentralized insurance products, has opted to swap 14,390 ETH from its capital pool for an equivalent worth of rETH liquid staking tokens issued by Rocket Pool. The swap is an effort to diversify the platform’s holdings and it was conducted through the CoW Swap platform which has generally performed large transactions for other protocols like Ethereum Name Service and Aave.
DAOLama, a decentralized non-fungible token (NFT) liquidity protocol, has kicked off its launch on The Open Network (TON), and the platform is now open to TON users who wish to lend TON tokens while putting up their NFTs as collateral for the loan. Lenders can simply connect their wallets and get an instant loan once they have selected their desired NFT as collateral. Users on the platform can also engage in peer-to-peer lending or renting of NFTs with others through a process. regulated by smart contracts.
Coin98, a decentralized exchange that offers a suite of DeFi products, has officially integrated the Mantle Network’s Mainnet Alpha into the Coin98 extension, which allows their community users to access the range of decentralized apps (dApps) on the Layer-2 network. To do so, Coin98 users can create a Mantle network wallet to store, send, and receive MNT tokens. More services are expected to be launched as Coin98 works to integrate with Mantle’s native bridge as well.
Chainlink, a decentralized oracle network that connects blockchains with off-chain data, has officially launched its Cross-Chain Interoperability Protocol (CCIP) in the Web3 space. Viewed as a critical tool to unlock the cross-chain economy, the interoperable protocol is expected to bring together thousands of decentralized applications, on-chain assets, and blockchain infrastructure in a streamlined fashion. CCIP provides access to Simplified Token Transfers which enables protocols to transfer tokens across chains using audited token pool contracts they control without writing custom code.
QuickSwap, a decentralized exchange powered by the Ethereum Layer-2 scaling solution Polygon, has successfully listed its native token $QUICK on Binance and MEXC exchanges. Its listing on two major exchanges indicates the legitimacy and popularity of the project, and boosts the liquidity of the token as well. The token is available as a USDT pair on both exchanges, and as a TUSD & BTC pair on Binance.
The Layer-2 rollup-based network Rollux has achieved a total of US$1.09 million in total value locked after launching its mainnet in June. Since the network kicked off its activity on June 28, the team supporting the network has been busy minting a number of decentralized finance partnerships to drive DeFi usability. This includes Chainge Finance, a cross-chain aggregated DEX; Pegasys, a DEX built on the Rollux network, and Rehold, a yield-earning platform that allows users to capitalize on high-yield, short-term investments.
Mantle, an optimistic rollup-based Ethereum Layer-2 scaling solution, has clinched another three partnerships to bring other protocols onboard the network. The first of these is Redstone Oracles, a modular oracle that delivers cost-efficient data to EVM L1s & L2s; StraDefi, an omni-chain decentralized finance platform that aims to make decentralized finance simpler and ready for mainstream adoption; and Holograph, a digital asset composability protocol allowing users to mint native multichain digital assets.
Fan engagement platform Fanzee has released a new engagement platform for the football fans of professional Chilean football club CDUC, which is also known by its nickname Los Cruzados. CDUC fans will be able to go onto the Fanzee-based page to answer fun quizzes and questionnaires about their favorite football players, and they will be rewarded with points upon successfully completing the quest with the potential to use their points in the future. This creates another avenue of interaction between the sports club and its supporters on Web3.
Layer-1 blockchain Syscoin recently unveiled more details about its latest airdrop participation feature for masternodes, along with its payment partnerships for travel agencies. The Syscoin Foundation released the Masternode EVM Registry desktop app which allows masternode owners to link an EVM-based address to participate in token airdrops. Plus, the network recently partnered with Tryvium Travels and NOW Payments along with its related Layer-2 network Rollux to disrupt the Web2 status quo of the travel industry and advance cryptocurrency payment gateways.
Diva Protocol, a flexible smart contract-based operating system that creates peer-to-peer derivative products, has launched a decentralized insurance product that insures against the cost of sudden gas fee spikes on Ethereum. This novel decentralized finance (DeFi) product aims to tame the volatility of gas fees and potential overcharges on the network, and it proposes a balance between insurance buyers such as traders who wants to avoid overpaying for fees, and insurance providers such as validators and yield seekers that aim to capitalize on the same market fluctuations.
Conflux network, the upcoming Chinese-compliant public blockchain, has formed a partnership with World Mobile to bridge tokens out of the Cardano blockchain to the Conflux network. World Mobile is focused on building a decentralized global mobile network, and it aims to integrate Conflux’s capabilities into its AyA sidechain while making efforts to push into the Asian and African markets through the partnership. At the same time, the Conflux team will be tapping on World Mobile’s expertise to optimize their new blockchain-based SIM card to increase digital connectivity worldwide.