This Week on web3 5min recap

Market information, major news, and fundraising status for 8/31~9/6.

Sep 09, 2024

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!

①Pickup
②Market & News
③Projects funded

①Pickup

A pickup of the week's news and fundraising projects of interest and commentary.

1, Ethervista makes a breakthrough

Ethervista is unique in that it combines an automated market maker (AMM) like Uniswap with a token launcher platform like Pump.fun
VISTA is the native token of the Ethervista platform, with a maximum supply of 1 million tokens and a built-in mechanism to reduce the supply in circulation over time
Each transaction on the Ethervista platform incurs a fee paid in ETH, a portion of which is used to purchase and burn VISTA tokens Rising
Launched on August 31, the token has gained both attention and liquidity.As a result, the token has risen more than 40x in the past four days

2,Aave partners with Sky (formerly Maker)

Sky Aave Force proposes to integrate the newly rebranded Sky USDS and sUSDS tokens (formerly DAI and sDAI) into Aave V3 with native token compensation and new market integration
The proposal includes a monthly airdrop of 3.33 MSPK for sUSDS supply in Aave V3 and a $100 million USDS debt cap on the Aave Lido market to drive adoption and increase liquidity
Aave protocol team agrees to 50/50 split of proceeds

3, Pokémon Inc. granted patents related to distributed ledgers and NFTs

J-PlatPat, a patent information platform operated by the Japan Patent Office, found that Pokémon Inc. had been granted patents related to distributed ledgers and NFTs.
According to the application, the purpose is to "preserve the emotional attachment to cards in digital TCGs (trading card games)."According to the application, the purpose is to "preserve the memory of cards in digital TCGs (trading card games).
Physical cards can be stored and displayed as a collection and become a memory in themselves, and rare cards can be so rare that they can be sold for a high price.Digital cards, on the other hand, are stored in the game account, so the physical collection experience is different.

4,Parlay

Platform for immediate deployment of meme coins on multiple chains.
Transaction/liquidity, launch, trade, grow, and earn PARLAY points all in one place

5,ODOS

Odos Smart Order Routing (SOR) is a proprietary automated AMM path search algorithm that aggregates DEX and finds the best route to swap cryptocurrency tokens.
Searches hundreds of DEXs and thousands of liquidity pools to find the swap combination that offers the best rate

6,Bloomberg Terminal Integrates Polymarket Election Data

On September 3, Shayne Coplan, CEO and founder of Polymarket, a leading Web3 forecasting marketplace, announced that Bloomberg Terminal will integrate Polymarket and make the platform's data available to a wide range ofthe platform's data to a broad range of mainstream news consumers.
According to data from Dune Analytics, Polymarket hosted $472.9 million worth of transactions from 63,616 different wallets last month; daily transaction volume hit a record high of $29.8 million on August 6; daily users reached a record high of 9The number of daily users reached a record high of 9,555 on August 23.

②Market & News

⛓️Blockchain

L1

Token prices have dropped significantly this week.

L2

TVL is also falling.

💰DeFi

DeFi's TVL is also falling.

🖼️NFT

While overall transaction volume is falling, it appears that small transactions are increasing, as most chains are seeing an increase in Buyers and Sellers.

🎮GameFi

Many UAW projects are falling, while many Txs are going up.

Brilliantcrypto's Brilliant Crypto Token (BRIL) to be listed on Bit2Me, a global crypto asset exchange

👀Other

Dapps-related

State, Legal & Regulatory Affairs

WazirX customers very unlikely to be fully compensated under cryptocurrency terms
SEC may require FTX bankruptcy foundation to repay customers in stablecoin
OKX officially approved in Singapore, hires former MAS official as local CEO
Elon Musk and Tesla win dismissal of lawsuit alleging they rigged the Doogie coin (DOGE)
Qatar improves regulatory clarity for cryptocurrencies with new framework announced by major SEZ
SEC should create "customized" S-1 forms for digital asset securities: Commissioner Mark Weda
Detained Binance Executives Protest Treatment by Nigerian Court
Financial Services Agency Releases Tax Reform Request for Next Fiscal Year.Financial Services Agency Releases Request for Tax Reform for Next Fiscal Year, Stating "Tax Treatment of Crypto Asset Transactions Needs Consideration"
US CFTC Settles with Uniswap, a Major DEX. in Derivatives Trading-Related Charges
Arthur Hayes expects bitcoin could fall to $50,000 until rate cuts
CZ permanently banned from Binance operations

Other

③ Projects funded

💥Top 5 Projects

1,Balance (E-PAL)

Overview: Developed by the E-PAL team, Balance is a web3 gaming platform designed to revolutionize the gaming industry with blockchain and AI.platform, with a traffic pool of 2.4 million web2 users, Balance aims to create an open, inclusive, and fair gaming ecosystem.
Category: AI, GameFi
Procurement Amount:$30M
Investment Round:TBD
Investors: ★a16z crypto, ★Galaxy Interactive, Animoca Brands, K5 Global, etc.

2,Hypernative

Overview: web3 security platform providing real-time monitoring and risk management tools to protect blockchain projects from potential threats.platform that uses AI and machine learning to analyze both on- and off-chain data to detect over 200 types of risks, including smart contract vulnerabilities, bridge security flaws, and market manipulation.
Category: Security
Procurement amount:$16M
Investment Round:Series A
Investors:*Quantstamp, Bloccelerate, Boldstart Ventures, Borderless Capital, etc...

3,Treble Technologies

Overview: Develops the world's first cloud-based sound simulation platform to enable accurate and efficient sound design for buildings, automobiles and technology productsEnables users to explore spatial audio in a virtual environment.Users can explore spatial audio in a virtual environment, providing an innovative experience in sound simulation.
Category:Music
Procurement amount:$12.16M
Investment Round:Series A
Investors: ★Kompas VC, Frumtak Ventures, European Investment Bank (EIB), Omega VenturePartners.

4,IDA (HKDA)

Overview:IDA is a digital asset technology company focused on bridging the gap between Web2 and Web3 for businesses.Its first product, HKDA, is a legal tender-referenced stablecoin built on a public blockchain protocol, designed to enable seamless 24/7 commerce and payments between Hong Kong and global markets.
Category：Stablecoin
Procurement amount：$6M
Investment Round：Seed
Investors：★CMCC Global、★Hashed、Hack VC、Anagram、etc..

5、Puffpaw

Summary: dePIN project on Berachain with the aim of on-chaining e-cigarette activities and promoting smoking cessation.
Category: DePIN
Procurement amount:$6M
Investment Round:Seed
Investors:★Lemniscap, Volt Capital, The Spartan Group, Folius Ventures, etc...

👀Other Projects

TrendX[$5M/Series A]: AI-powered web3 platform designed to track trends and facilitate intelligent trading.
Legend of Arcadia[$4M/Seed]:Multi-chain, free-to-play, play-and-earn casual strategy card game.Players collect and raise toy-like humanoid creatures called "Toy Heroes" to increase their harvest through staking, battles, and mining.
CryptoHunter World[$2.80M/Private]: A blockchain-based collectible RPG that combines M2E and P2E mechanics, players explore a world filled with unknown creatures called Cryptids and earn rewards by walking through the real world using GPS capabilities.
Kredete[$2.25M/Seed]: a financial software platform designed to help African migrants by helping them build credit and send money back home with minimal fees.
Biptap[$2M/Pre Seed]: Dubai-based fintech company offering offshore banking solutions with a focus on financial privacy.It makes privacy-focused banking available to everyone, enabling both individuals and businesses to conduct global transactions with confidence while protecting their financial data.
Parlay[$2M/TBD]A multi-chain, no-code launchpad and trading platform that simplifies the creation and trading of meme coins.Users can securely launch tokens on their preferred blockchain in just 60 seconds.
onocoy[$940k/Private]: Community-driven GNSS reference station network providing high-quality RTK corrections for ultra-high accuracy positioning.Provides professional grade GNSS data with global coverage and cost efficiency.
Vanilla Finance[TBD/TBD]:A decentralized trading platform that allows you to own 1 bitcoin for $10.Offers up to 10,000x leverage with no liquidation risk.
Adot[TBD/TBD]: The AI Age anddistributed AI search engine company focused on creating reliable distributed search engines for the Web3 network.
Yooldo[TBD/TBD]: a Koreanmultiverse P2E gaming platform inspired by classic novels.
Arris[TBD/TBD]:web3A comprehensive airdrop protocol designed to streamline on-chain interactions oftransaction volume and award users points for monthly airdrops listed on mainstream exchanges.
Dropnest[TBD/TBD]An intuitive app that simplifies airdrop pharming by providing a user-friendly one-click solution.
Mereo[TBD/TBD]: a fanplatform that allows them to profit through actions and reputation.Integrate dynamic ticket sales, interactive quests, and community chat features to enable IP owners to create an immersive fan experience.
Blabla[TBD/Seed]:FormerSocialFi project founded by members of the TikTok and Meta teams.Users earn tokens by watching, interacting, and sharing content, and creators receive tips directly from users, ensuring fair rewards for all participants.
Uniquid[TBD/TBD]: A platform focused on maximizing bitcoin revenue through integrated liquidity management across multipleplatforms focused on maximizing bitcoin revenues through integrated liquidity management across multiple chains and centralized financial (CeFi) platforms.
UXLINK[TBD/TBD]: A web3 social platform designed for large-scale adoption.A web3 social platform designed for large-scale adoption, offering users the ability to create social assets and participate in cryptocurrency transactions.
Cycle Network[TBD/TBD]: Trastress Omni-chain ledger protocol using Omni Distributed Ledger Technology (ODLT) with OSCI and TCCP.
ODOS[TBD/Series A]A DEX aggregator that uses advanced smart order routing to optimize cryptocurrency transactions.
Pencils Protocol (PenPad)[TBD/Strategic]:Innovative auction platform and revenue aggregator on Scroll.
Kroma[TBD/Series A]Layer 2 scaling solution focused on developing universal ZK rollups based on the Optimism Bedrock architecture.

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.

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