This Week on web3 5min recap

Market information, major news, and fundraising status for 8/3~8/9.

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 19 projects that have raised funds

---

①Market Information and Major News

---

⛓️Blockchain

L1

Some projects have seen a slight return in token prices.

• Starknet Foundation CEO Diego Oliva Steps Down

• Liquid restaking protocols grow rapidly, ETH staking reaches 27.95%.

• Ethernet's new address count plummets to lowest level this year

• Vitalik says Ethereum is ready to support "tens of millions" of on-chain users

• Polkadot processes 3.8 million transactions on July 30 after Mythos migration

L2

TVL is falling overall.

• Galaxy Research Alarmed at Sustainability of Bitcoin Layer 2 Rollup

• Ethernet Layer 2 Turbo claims to handle 400,000 transactions per second

• Zircuit, an EVM-compatible zk rollup, airdrops its own token ZRC

• Analysts say widespread use of Ethereum Layer 2 could fragment liquidity

• Metis integrates Chainlink CCIP for cross-chain capabilities

• Arbitrum Orbit integrates USDC as a custom gas token

---

💰DeFi

Overall, TVL is falling.

• Solana Reaches Record Number of Tips in Jito Validator Due to Increased Network Activity and Launch of New Token

• Franklin Templeton Blockchain Fund Launched at Arbitrum

• MonkeDAO Launches Internal Investigation to Address Allegations of Validator Revenue Misappropriation

• Circle "USDC" to End Native Support for Flo

• Ethena Expands Access to USDe with Solana Integration, Adds SOL as Backing Asset

• Cryptocurrency Crash Wipes Out DeFi Borrowers, Doubles Aave v3 Liquidation to Record High

• Almost 99% of Pump.fun tokens fail

• Polymarket Surpasses $1 Billion in Cumulative Volume Due to US Political Betting

• RWA Platform Open Eden Tokenizes US Treasury Bills with "XRP Leisure"

• Pump.fun now lets you create meme coins for free

• Coinbase-backed Vega Protocol takes aim at Polymarket in new prediction market

---

🖼️NFT

The volume of transactions has increased slightly.

---

GameFi

Some projects are rising, but we are seeing a downward trend.

• TON's Head of Gaming Talks Hamster Combat's Next Move and the Future of Telegram Games

• French gaming giant Ubisoft to release Netflix series game "Captain Rose Hawk: The Game" with Arbitrum adoption

---

👀Other

Dapps related

• Ronin Bridge Suspended for $11.8M Leak to MEV Bot White Hat

• SVL, the proprietary token for crypto asset payment "slush," listed on overseas exchange MEXC Global

State, Legal & Regulatory Affairs

• Donald Trump Says U.S. Can Pay Off Debt With Bitcoin

• US spot bitcoin ETF records largest one-day outflow in past 90 days

• HashKey's OTC Trading Division Receives Singapore Payment License

• Australian Prosecutor Seeks Jail for Crypto.com User Who Accidentally Received $1 Billion

• BRICS moves forward with plans to establish independent digital payment platform

• Solana ETF approved by Brazilian SEC

• Virtual currency company executives meet with White House officials to discuss policies and complaints

• US Democrats ask CFTC to ban election gambling on prediction markets

Other

• ZKX investors and market makers say they were surprised by the sudden closing

• Virtual currency liquidations surge as stock market slumps

• Instagram and Facebook Veteran Named CMO of Crypto VC Paradigm

• Donald Trump Sells Limited 1000 Pairs of Bitcoin Sneakers and Sells Out

• Hakuhodo Keithley and Ginco form strategic alliance to support international expansion of Web3 companies.

• Vitalik Buterin sells 17 million yen worth of meme coins

• Jump Crypt appears to liquidate millions of dollars worth of virtual currency

• DeFi liquidations exceed $350 million in past 24 hours, annual high amid market turmoil

• BlackRock, NASDAQ Promote Spot Options on Ethereum ETF

• Robinhood's Q2 cryptocurrency revenue up 161%, trading volume hits $21.5 billion

• Sushtop takes over web3 business from GEOMETRON

• IMF Reports Progress in El Salvador Talks, Warns of Bitcoin Risk

• Binance ordered to pay about 12.6 billion in taxes in India

• Metaplanet to raise up to $10 billion, mostly to buy additional bitcoin

• Google, Amazon and others apply to join Central Bank of India digital currency

• JP Morgan says bitcoin recovery is due to institutional support

• Explosive meme coin Pacmoon announces migration to Solana

• Grayscale launches two mutual funds for crypto assets SUI and TAO

• Toncoin (TON) to be listed on Binance

• Mitsui Warehouse Logistics launches full-scale logistics management system using blockchain.

---

②19 projects that have been funded

---

💥Top 5 projects

1,Andrena

• Overview:A decentralized wireless Internet provider that aims to revolutionize broadband access through blockchain technology.Provides a cost-effective and efficient solution for delivering high-speed Internet to underserved and remote areas.

• Category：DePIN

• Procurement amount：$18M

• Investment Round：Series A

• Investors：★Dragonfly Capital、CMT Digital、Castle Island Ventures、Wintermute、etc.

2、Vessel

• Overview: A Zero Knowledge (ZK) based decentralized exchange that aims to revolutionize DeFi trading.Offers a robust trading experience by combining the efficiency and ease of use of a centralized exchange with the transparency and security of a decentralized platform.

• Category：DeFi、ZKP

• Procurement amount：$10M

• Investment Round：Seed

• Investors：Sequoia Capital、Avalanche Foundation、Algorand Foundation、Folius Ventures、etc.

3、Cartridge

• Overview: provides a seamless and secure environment for gamers to discover, play and monetize their gaming activities.

• Category:GameFi

• Procurement amount:$7.50M

• Investment Round:Series A

• Investors:★BITKRAFT Ventures, Starkware, Fabric Ventures, Dune Ventures, etc...

4, DeAgentAI

• Overview:Accelerate AI and blockchain integration through the development of intelligent neural networks customized for web3.Created AI-native infrastructure using proprietary LLM and Agent-Centric Index (AGI) systems.

• Category：AI、Intent

• Procurement amount：$6M

• Investment Round：Seed

• Investors：Web3com Ventures、Vertex Ventures、Waterdrip Capital、Tido Capital、etc.

5、Pentagon Games

• Overview: A pioneering platform that leverages web3, AI and XR metaverse technologies to revolutionize game development, distribution and experience.Offers a full stack of services to integrate games into the web3 ecosystem, including proprietary AI tools, launchpad and token economy advisory, and access to a network of partners and gamers.

• Category:GameFi

• Procurement amount:$6M

• Investment Round:Seed

• Investors: Animoca Brands, Binance Labs Fund, Symbolic Capital, NFX, etc.

---

👀Other, 14 projects

• Curio[$5.70M/Seed]A gaming studio focused on building the underlying infrastructure for configurable on-chain crypto games.

• 375ai[$5M/Seed]: world's firstPioneer of the world's first distributed edge data intelligence network.Leveraging advanced AI and blockchain technologies to enable real-time data collection, processing and analysis at the edge.

• TONX[$4M/TBD]:, a customerAI-powered platform designed to enhance engagement and support.Features include intelligent chatbots, predictive analytics, and seamless integration with existing customer relationship management (CRM) systems.

• Zoth[$4M/Strategic]:Provides a financial ecosystem that bridges the gap between lenders and borrowers by providing access to capital through DeFi; focuses on bringing RWAs on-chain and providing high revenue opportunities from emerging markets; provides a strong financial ecosystem for lenders and borrowers by providing access to capital through DeFi.

• Moonveil Entertainment[$3.60M/Series A]: Cayman Islands-based Web3 game studio focused on building a new gaming ecosystem where players can own in-game assets and earn cryptocurrency rewards.

• Blockscout[$3M/Seed]: Open source blockchain explorer for Ethereum and EVM compatible chains.Provides users with detailed information about transactions, addresses, blocks and smart contracts on the blockchain.

• Payman[$3M/Pre Seed]: an innovative platform that facilitates payments from AI to humans, allowing AI systems to make payments to humans for the completion of tasks.

• Khalani Network[$2.50M/Seed]: A distributed solver infrastructure designed to streamline and optimize intent-based applications in the web3 ecosystem.Provides a robust platform for efficiently managing and executing complex on-chain intents.

• Nexio[$2.20M/Pre Seed]:Provides a parallelized Bitcoin Rollup and a low-cost DeFi environment that uses the most secure smart contract language on the most secure blockchain.

• Elmnts[$2M/Pre Seed]: a tokenized commodity ecosystem that simplifies the buying and selling of oil and gas royalties for the modern investor.

• Lync[$1.50M/Pre Seed]: a multi-chain gaming ecosystem that provides critical infrastructure for Tier 1 game studios and indie developers.

• Quantlytica[$1.10M/TBD]: a decentralized liquidity distribution protocol that optimizes and automates the distribution of liquidity among DEX and other DeFi platforms.

• UniWorlds[TBD/Seed]:Provides infrastructure and toolkit for building communities, games, and worlds on Bitcoin through fractal Bitcoin technology.

• Solayer[TBD/TBD]Natively re-staking networks on top of Solana and leveraging Solana's economic security and premium execution to provide a distributed cloud infrastructure.

---

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.

---

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.