This Week on web3 5min recap

Market information, major news, and fundraising status for 7/6~12.

Good morning.
Mitsui from web3 researcher.

Every Monday will be a summary article about the web3 market for the past week.Please use it to catch up on information and trends!

① Market information and major news
② 21 projects that have raised funds
③ Articles and recap updated in the last week

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①Market Information and Major News

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⛓️Blockchain

L1

It was a week of slight recovery in token prices.

• Decline in Bitcoin mining difficulty suggests BTC price is approaching bottom

• Cboe submits listing application for "Solana Physical ETF" to the US SEC, which will decide whether to accept or reject it by March next year.

• Staked Ethereum reaches 27% of supply as ETF trading looms.

• $1 Million Reward Offered for Solana Validator Client Firedancer Bug Find

• Aptos Releases Aptos Connect Keyless Wallet

• Bitcoin is falling - how low can it go?

• Solana's Firedancer client builds first block on test net

L2

L2 TVL is also recovering.

• Ethernet L2 "Starknet" Proposes Staking STRK, Aims to Offer by Year's End

• Mantle's Testnet to implement upgrade, move DA layer to EigenDA

• Telegram's "TON" to Partner with Polygon Labs to Build L2 Network

• Number of users depositing into Ethereum L2 at lowest level since the beginning of the year

• Celo Releases Dango Layer 2 Testnet as First Step Toward Joining Ethereum Ecosystem

• Blast Network Surges Following Massive Airdrop

• Zircuit's TVL down $500 million as second phase of rewards program begins

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💰DeFi

DeFi's TVL is also recovering.

• Justin Sun suggests that gasless stave coins will be on Tron by the end of the year, followed by Ethereum and EVM chains

• Napier Finance, funded by Curve Finace founders, launches with $5 million TVL in one day.

• DeFi giants Aave and Maker at odds over $2 million profit-sharing agreement

• BlackRock's BUIDL topped $500 million in tokenized government bonds

• Orderly Network, a decentralized order book, reaches $63 billion in cumulative trading volume.

• Solana DEX Raydium surpasses Uniswap in weekly fees

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🖼️NFT

You have a project that is recovering significantly by the chain.

• Mocaverse NFT Plunges, MOCA Tokens Surge to $800 Million Fully Diluted Valuation

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🎮GameFi

Overall, the trend is toward recovery.

• Pre-Market Trading Grows as Token Launch of Telegram's Hot Game "Hamster Combat" Nears

• BLOCKSMITH to Hold "Web 3 Quiz King Competition" at QAQA with 10 Million Yen Total Prize Money

• double jump. tokyo and French gaming giant Ubisoft partner

• Telegram CEO calls crypto game "Hamster Combat" the "fastest growing digital service in the world".

• HV-MTL Ethereum Mecha Comes to Arena Shooter 'Shatterline'

• Skale Labs Announces "Major Technology Upgrade" for Blockchain Popular in Web3 Video Games

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👀Other

Dapps related

• Farcaster reaches record user engagement with over 73,700 unique casters.

• Friend.tech plunges 25% to all-time low after saying it will stay L2-based

State, Legal & Regulatory Affairs

• President Trump to Speak at Nashville Bitcoin Conference

• Terraform Labs to sell four businesses during bankruptcy proceedings

• Malaysian Minister Claims Virtual Currency Miners Behind $722 Million Power Theft

• Arrested Samurai Wallet Co-Founder Out on Bail, Disputes Charges

• Nigeria Considers Building Its Own "Nigerian" Blockchain

• Taiwan to build CBDC prototype platform, plans public hearing next year

• VanEck and 21Shares file amended "Ethereum Physical ETF" application with the U.S. SEC

• Europe-based exchange Bitstamp announces quick repayment response to Mount Gox creditors

• U.S. Republican Party Pledges to "Put an End" to Crypto Assets Crackdown.In Platform to Campaign

• Germany sells $2 billion worth of BTC in a week, bitcoin price falls

Other

• Mount Gox begins repayment in Bitcoin and Bitcoin Cash

• SBI partners with Kyodo Life Insurance to create STO business in Korea.

• Kyoto University Research Group Discovers Formula to Express "Blockchain Trilemma"

• Oasys Collaborates with Celer for Native "USDC" Support

• Bitcoin Exchange Hacks Drive Surge in Stolen Virtual Currency in 2024

• Tron founder Justin Sun announces purchase of about 370 billion yen worth of bitcoin held by German government agencies

• Chaintope and Kyushu Institute of Technology conduct "Unattended Recycling Box Opening Verification" using DID and VC.

• Ethernet and Immunefy launch "Attackathon" with plans to raise $2 million reward pool

• MetaMask Developer Consensys Releases New Toolkit for "Seamless Onboarding"

• Messi, Ronaldinho promote little-known Solana meme coin

• Solana meme coin bonk and Billy surge amid market slump

• SBI-funded British Zodiacustody partners with DeFi lending Maple Finance

• Goldman Sachs plans to launch three tokenization funds this year

• Ginco Wins Grant from BNB Chain

• DMM's DM2C Studio Partners with Immutable, Will Collaborate with "Gods Unchained"

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(2) 21 funded projects.

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💥Top 5 projects

1,Partior

• Overview: Supports real-time cross-border multi-currency payments, PvP (Payments versus Payments), DvP (Delivery versus Payments) settlement, and trade finance functions.Payments (PvP) and Delivery versus Payments (DvP) settlements, and trade finance functions.can interoperate with both digital and non-digital asset networks, ensuring comprehensive and efficient financial transactions.

• Category：Payment

• Procurement amount：$60M

• Investment Round：Series B

• Investors：★Peak XV Partners、Valor Capital Group、Jump Trading、Standard Chartered Bank、etc.

2、ZAP

• Overview: A reputation-based token distribution protocol built on top of Blast to guarantee fair, merit-based token rewards by verifying user contributions.It is designed

• Category：Launchpad

• Procurement amount：$15M

• Investment Round：TBD

• Investors：★Rarestone Capital、★Cypher Capital、★Sharding Capital、Presto Labs、etc..

3、Rome Protocol

• Overview:Build a shared sequencing network on the Solana blockchain and leverage its high throughput toProvides efficient sequencing of roll-up solutions and blockchain projects without compromising the user experience.

• Category:Protocol

• Procurement amount:$9M

• Investment Round:TBD

• Investors:★Hack VC, P2 Ventures, Hashkey Capital, Portal Ventures, etc...

4, Aidatify

• Overview:Leveraging AI and data analytics to transform how companies understand and engage with their customers.The platform provides advanced tools for data analytics, enabling companies to extract actionable insights from large data sets.

• Category: AI

• Procurement amount:$8.30M

• Investment Round:TBD

• Investors: Stix, Alter Global, Spencer Ventures

5,Term Finance

• Summary:A decentralized lending protocol that uses a proprietary auction model to support DeFi's first scalable fixed rate/fixed term financing.

• Category: DeFi

• Procurement amount:$5.50M

• Investment Round:Strategic

• Investors: ★Electric Capital, Maelstrom, Ava Labs, Blizzard, etc.

👀Other, 16 projects

• Dora[$5.50M/TBD]Blockchain-based search engine and explorer for DeFi transactions.Provides real-time data on transfers, swaps, and mints across multiple blockchain networks, providing a comprehensive view of on-chain activity.

• idOS[$4.50M/TBD]A decentralized, chain-independent identity layer for Web3 that allows users to manage their data in a self-sovereign manner.

• RECRD[$4M/Seed]: MusicA next-generation platform designed to revolutionize the way artists, fans and industry professionals connect and collaborate.

• Tread.fi[$3.50M/Pre Seed]:An institutional trading platform offering advanced algorithmic trading tools for digital assets.

• Soccerverse[$3.10M/TBD]: free-to-play, worldwide multiplayer soccer management simulator and trading game.

• Kulipa[$3M/Seed]: Nonplatform that allows managed wallets to issue branded crypto payment cards.

• Idle[$2.40M/Strategic]: a decentralized protocol that automatically optimizes yields on users' crypto assets.Integrates multiple DeFi yield sources into a single platform, allowing users to get the best risk-adjusted returns without having to manually move funds between protocols.

• ThirdFi[$2M/TBD]:AIModular AI platform for DeFi that provides driven insights and automation.

• Sumer.Money[$2M/Strategic]: a DeFi platform focused on maximizing capital efficiency through an innovative risk engine.

• Pixelverse[$2M/TBD]: a cyberpunk video game ecosystem where players explore neon-lit worlds, participate in PvE and PvP battles, and customize robots.

• BOB[$1.60M/Strategic]: A breakthrough Layer 2 solution with full EVM compatibility and native Bitcoin support.

• Questflow[$1.50M/Angel]: a distributed autonomous AI agent network that uses advanced artificial intelligence to enable users to automate their workflow and improve productivity.

• SPOT Protocol[$1M/Strategic]:Provides a decentralized financial system with a unique flat-coin SPOT designed for low volatility and inflation tolerance.

• XOXNO Network[$875k/Public Sale]: an NFT marketplace and robust digital asset platform on the MultiversX network.

• VALDI[TBD/M&A]Affordable and reliable GPU cloud services tailored for AI and machine learning workloads.

• Stillman digital[TBD/M&A]:Global technology and digital asset liquidity provider, offering advanced trading, clearing and technology solutions for institutional investors.

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(3) Articles updated last week

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📝Articles updated last week

This Week on web3 5min recap

【Pell Network】Restaking Protocol in the Bitcoin Ecosystem / Native BTC staking and LSD Restake services to be aggregated / Mainnet release planned for 2024 / @Pell_Network

Two Dapps I've been into lately

Does Solana Need L2?

【Telegram Stars】New In-app Points in Telegram / Can be used to purchase paid content, in-app items, and advertisements

All of the articles are interesting, so please take a look at them if you haven't seen them yet!

We will continue to update our research this week!

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Disclaimer：I carefully examine and write the information that I research, but since it is personally operated and there are many parts with English sources, there may be some paraphrasing or incorrect information. Please understand. Also, there may be introductions of Dapps, NFTs, and tokens in the articles, but there is absolutely no solicitation purpose. Please purchase and use them at your own risk.

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About us
🇯🇵🇺🇸🇰🇷🇨🇳🇪🇸 The English version of the web3 newsletter, which is available in 5 languages. Based on the concept of ``Learn more about web3 in 5 minutes a day,'' we deliver research articles five times a week, including explanations of popular web3 trends, project explanations, and introductions to the latest news.

Author
mitsui
A web3 researcher. Operating the newsletter "web3 Research" delivered in five languages around the world.

Contact
The author is a web3 researcher based in Japan. If you have a project that is interested in expanding to Japan, please contact the following:

• X：@web3researchgl

• Telegram：@mitsui0x

*Please note that this newsletter translates articles that are originally in Japanese. There may be translation mistakes such as mistranslations or paraphrasing, so please understand in advance.