This Week on web3 5min recap

Market information, major news, and fundraising status for 7/27~8/2.

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 The 20 projects that have raised funds

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①Market Information and Major News

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⛓️Blockchain

L1

This week was a week of significant declines in token prices.

• SUI (SUI) launches Mysticeti, a DAG-based consensus protocol.

• Ethernet Team Leader Peter Siraj Says He Feels "Ethereum is Going Off Track"

• Arbitrum Foundation's Proposal to Deploy Orbit Chain Beyond Ethereum Begins First Vote

• Patrick O'Grady, head of engineering at Ava Labs, leaves the team to start his own company

• Bitcoin meme coin loons account for 35% of transactions across the chain

L2

L2 has also seen a significant drop in TVL.

• StarkWare is working to integrate Cosmos' IBC protocol into Starknet

• Bitcoin Layer 2 BitLayer Overtakes Merlin as Scaling Battle Rages

• Movement Labs Integrates with Polygon's AggLayer to Improve Move-Based L2 Chain Liquidity

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💰DeFi

DeFi has also seen a significant drop in TVL.

• $24 Million Compound Financing Proposal Approved Over DAO Opposition

• "Jito" releases code for staking platform Zitri Staking

• Cross-chain protocol "deBridge" to issue Governance Token DBR

• Raydium, Pump.Fun, Jito Lead Solana as Top Fee Generators

• Modular Blockchain Elixir to Release Stablecoin deUSD

• Almost 99% of Pump.fun tokens fail

• Solana Surpasses Ethereum in Monthly DEX Volume for First Time

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🖼️NFT

I see that NFTs are decreasing in overall market volume, but some chains are increasing.

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🎮GameFi

GameFi's UAW is growing by half.

• TON-based game "Hamster Combat" to airdrop its own token HMSTR

• Telegram game "Catizen" postpones airdrop after community backlash

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👀Other

Dapps related

• Sony Bank releases "Sony Bank CONNECT" application for web3entertainment.

State, Legal & Regulatory Affairs

• Metaplanet Acquires Exclusive License to Japanese Edition of Bitcoin Magazine

• Bank of England to experiment with wholesale CBDCs and synchronization

• World Coin Foundation fined nearly $32 million by Buenos Aires authorities

Other

• BitFlyer completes acquisition of FTX Japan.

• SBI and Franklin Templeton formally announce joint venture in Japan.

• Instagram and Facebook Veteran Named CMO of Crypto VC Paradigm

• Donald Trump Sells Limited 1,000 Pairs of Bitcoin Sneakers and Sells Out

• U.S. Coinbase Sales Beat Estimates, Tailwind from Crypto Asset ETF Approval

• IBM Japan makes the fruit supply chain used for Kirin Hyoketsu visible with blockchain.

• Tether posts $5.2 billion profit in H1 2024, tops global holdings of US Treasuries

• Mixi Announces Preparations for TSE Listing of Crypto Asset Exchange Bitbank

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②20 projects that have been funded

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💥Top 5 projects

1,Morpho

• Overview: A DeFi lending protocol built on top of existing protocols, moving loans from liquidity pools into a peer-to-peer mechanism to provide investors withProvides higher yields.

• Category：DeFi

• Procurement amount：$50M

• Investment Round：Strategic

• Investor：★Ribbit Capital、a16z crypto、Coinbase Ventures、Variant Fund、etc.

2、Layer2 Financial

• Overview: A multi-partner platform that provides Payments as a Service (PaaS), allowing businesses to process compliant payments in multiple currencies.

• Category:CeDefi

• Procurement amount：$10.70M

• Investment Round：Series A

• Investor：★Galaxy Digital、Accomplice Blockchain、Sapphire Ventures

3、Daylight Energy

• Overview: A comprehensive platform designed to modernize home energy systems by providing a marketplace for select local contractors and artisans.Platform.

• Category: DePIN

• Procurement amount:$9M

• Investment Round:Series A

• Investors:★a16z crypto, Framework Ventures, Lattice Fund, Escape Velocity, Lerer Hippeau

4,Hyperbolic

• Overview: An AI cloud platform that integrates worldwide computing resources to provide accessible, affordable, scalable GPU resources and AI services.Cloud platform that integrates computing resources from around the world to provide accessible, affordable, scalable GPU resources and AI services.

• Category:AI

• Procurement amount：$7M

• Investment Round：Seed

• Investor：★Polychain Capital、★Lightspeed Faction、Chapter One、LongHash Ventures、etc.

5、Rage Trade

• Overview: A multi-chain perpetual (perp) trading platform that aggregates liquidity from different chains to provide the best price and trading experience.

• Category: DeFi

• Procurement amount:$6M

• Investment Round:Public Sale

• Investor: Individual investors

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👀Other, 15 projects

• Icebreaker[$5M/Seed]: a web3 native messaging platform designed to enhance communication within distributed communities.

• Breakout[$4.50M/Seed]: a crypto-native proprietary trading company that provides access to the best centralized exchange liquidity for trading over 100 crypto assets.

• Mintify[$3.40M/TBD]: an NFT multi-chain aggregator, analytics platform, and trading terminal to deploy sophisticated NFT investment strategies.

• JokeRace[$3M/TBD]An on-chain contest platform that allows decentralized communities to host and participate in a variety of contests and challenges.

• Pichi Finance[$2.50M/TBD]:A decentralized platform focused on optimizing yield farming and liquidity provision across multiple DeFi ecosystems.

• Raad Labs[$2.25M/Seed]:Deploys a distributed network of weather sensors to provide ultra-local ground truth data.

• We.Rich[$2M/Seed]: Anyonecan become a founder and make anything tradable using Base's zero cost, zero IQ asset creation experience and Base's AI-powered, personalized asset recommendation engine.

• Liquorice[$1.20M/Pre Seed]: a DeFi protocol that provides a one-sided lending pool integrated with a MEV-free trading engine, tailored to facilitate liquidity in an intent-based trading system.

• Agent Exchange[$1M/Pre Seed]: An all-in-one platform that allows web3 users to seamlessly create and manage multiple sub-accounts.

• Mycel[TBD/Angel]Cross-chain settlement infrastructure that connects and synchronizes state machines using Transferable Accounts (TAs).

• Particle Network[TBD/TBD]: L1 chain for modular abstraction.: Aims to solve fragmentation of users and liquidity through universal accounts.

• aPriori[TBD/TBD]: Optimized revenue strategyProvide users with optimized revenue strategies, secure asset management, and seamless integration with various blockchain networks.

• Lukka[TBD/TBD]:AgencyA multi-faceted technology company serving businesses dealing with crypto assets using level data and software solutions.

• Girin Labs[TBD/TBD]Building user-friendly infrastructure and DeFi systems within the XRP Ledger and Root Network ecosystems.

• BlonkFi[TBD/Pre Seed]:A core protocol for liquidity infrastructure aimed at solving the pressing problem of insufficient liquidity for volatile long-tail mid-market capitalization assets such as meme coins.

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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.