Sitemap - 2025 - DEBUNK（web3 Research）

Hong Kong-based stablecoin payment firm RedotPay raises $107M, Rainbow secures $3M in public sale, and more—24 projects in total【Fundraising Project Summary】

【Scalability】Explanation of Basic Terms

Who owns the protocol?

【Bond】A new type of fan club where investment returns from deposited funds are distributed to creators / Stable management via Morph / @joinbond

【Aztec Network】Privacy-first Layer 2 zk-rollup / Proves transaction validity while keeping content confidential using zkSNARKs / Conducting token sale / @aztecnetwork

The Governance Dispute Between Aave Labs and Aave DAO

【Pye】A protocol that separates staking positions into PT and YT and tokenizes them / Validators provide time-locked staking products with predefined conditions / @pyefinance

A 5-Minute Recap of Last Week's web3 Market

【Derivatives】Explanation of Basic Word

Privacy-focused Layer 2 Aztec Network raises $40.20M、ETF-specialized Layer 1 Helios raises $15M、and more—25 projects in total【Fundraising Project Summary】

【Collateral】Basic Vocabulary Explanation

The RWA Perpetual is really taking off.

【Space】Decentralized prediction market platform on Solana supporting 10x leverage / Echo round raises 1,360% of its funding target / @intodotspace

【Ostium】Perpetual DEX built on Arbitrum, specialized for RWA / Up to 200x leverage on stocks, indices, commodities, FX, crypto assets, and more / @OstiumLabs

【AllScale】Fintech platform leveraging stablecoins / Integrated solutions for invoicing, global payroll, and social commerce / @allscaleio

【Cambrian Network】Financial data API integrating and providing on-chain and off-chain data / @CambrianNetwork

The two major trends in DeFi are "super appification" and "white-labeling."

【Trade.xyz】Perpetual Stock DEX built using HIP-3 / Enables 24/7 trading with internal oracles / @tradexyz

【CreatorFi】A lending platform where creators can receive USDC in advance against future earnings (advertising, royalties, etc.) / @insomnia_labs

【Figure】The leading company in tokenizing residential collateral loans (HELOCs) / Completing lending, securitization, trading, and servicing entirely on-chain / @Figure

【Lava】A platform offering BTC-backed loans / Evolving into a multifunctional service including loans, cards, USD yields, and salary-to-BTC conversion / @lava_xyz

【Numerai】A hedge fund powered by crowd intelligence using AI and blockchain / Assets under management have grown rapidly since its 2015 founding and now stand at $500 million / @numerai

【Reach.Social】A platform for creating campaigns to generate UGS and Clippings for brands / Rewards paid instantly on Solana / @letsreachsocial

【Seismic】An EVM-compatible privacy-enabled blockchain designed for fintech / Operate nodes in a TEE environment / Continued investment from a16z crypto / @SeismicSys

Overview and Innovation of Uniswap's "UNIfication" Proposal

【Noice】A platform enabling founders to conduct phased fundraising using tokens / Also released an Oracle allowing token trading on X via the Farcaster mini-app / @noicedotso

【Buidlpad】An ICO platform championing community-driven fundraising / Founded by former Binance Launchpad head / Also built Vibe, a micro-funding platform / @buidlpad

【Monad】An EVM-compatible Layer 1 blockchain achieving approximately 10,000 TPS and sub-second finality through proprietary optimizations like parallel execution and asynchronous processing / @monad

Flying Tulip raises $200M in Seed, Bitcoin payment app Lava raises $17.5M, and 19 other PJs in all【Fundraising PJ Summary】

【Flying Tulip】Full-stack on-chain exchange integrating multiple DeFi / Protocol uses only principal investment income from fundraising / @flyingtulip_

【All About Plasma】Overview, Technical Structure, Team, Transition, Post-Mainnet Movement, XPL Token, Plasma One, and More / @Plasma

【Bastion】API-first comprehensive stabled coin infrastructure platform / Raised over $40M total from a16z, Coinbase Ventures and others / @BastionPlatform

【Aria Protocol】A protocol to convert music and other IP revenue rights on Story into small tokens (IPRWA) that can be traded and held by anyone / @Aria_Protocol

【Aster】Next generation Peps DEX centered on BNB chain / Rapid growth with CZ's support and TGE / @Aster_DEX

【Kredete】Fintech app integrates international money transfer and credit building for African diaspora / Transaction history leads to improved US credit score / @kredete

A 5-Minute Recap of Last Week's web3 Market

From Mutual Aid to On-Chain Insurance 【Insurance Evolution and the Potential of web3: Part 2】

European DAT company Capital B raises $68.85M, GRVT raises $19M in Series A, and 17 other PJs in all【Fundraising PJ Summary】

From Mutual Aid to On-Chain Insurance 【Insurance Evolution and the Potential of web3: Part 1】

Coinbase Business Structure and Strategy

【Inversion】Emerging PF fund to improve profitability through acquisitions and blockchain implementation / Also built own L1 with Avalanche / @inversion_cap

【USAT】Dollar-linked stablecoin by Tether to comply with US GENIUS Act / Issued by Anchorage Digital Bank, custody and US Treasury trading handled by Cantor Fitzgerald / @USAT_io

A 5-Minute Recap of Last Week's web3 Market

New forms of ownership brought about by NFT【Part 2】

Winklevoss Brothers' Gemini IPOs, Inversion Capital Raises $26.5M, and 13 Other PJs【Fundraising PJ Summary】

Historical Arrangement of Ownership and Use Rights【Part I】

【Collector Crypt】Marketplace where TGC can be tokenized and bought and sold / Rapid growth with gacha element of Pokeka / Issuing own tokens / @Collector_Crypt

【Hive Intelligence】Provides MCP server that can interact with 60+ blockchain data in natural language / @Hive_Intel

【Poseidon】Data collection protocol for Physical AI built on Story / Flagship app for RoboFi market / Voice data collection campaign launched / @psdnai

A 5-Minute Recap of Last Week's web3 Market

Codes and Tokens - The web as the New "Belief" 3 【From God to Codes. An Evolutionary History of Belief and Trust: Part 2】

Etherealize, an Ethereum ecosystem support company, raises $40M, Kite AI, an AI-focused L1, raises $18M, all 18 PJs 【Fundraising PJ Summary】

God, Law, and the Market - A History of What Mankind Has "Believed"【From God to Code. An Evolutionary History of Belief and Trust: Part I】

【All About Ethena】An in-depth look at the growth strategy, transition, and surrounding ecosystem of USDe, the fastest growing delta-neutral stablecoin in the market.

【Superfluid】Protocol for dynamic remittance and distribution / Wrap ERC-20 to SuperToken / Enable real-time payment of subs and salaries / Token sale now on Kaito LaunchPad / @Superfluid_HQ

【Trepa】Precision forecasting platform specializing in numerical forecasting / Rewarded according to accuracy rather than Yes No choice / @trepa_io

Rain raises $58M in Series B from Dragonfly and others, LayerZero M&A Stargate Finance, and more for a total of 28 PJs【Fundraising PJ Summary】

A 5-Minute Recap of Last Week's web3 Market

Basic Understanding of RWA Tokenization 【Basic Understanding of RWA Tokenization: Part 2】

Securitization (ABS/MBS) Basics【Basic Understanding of RWA Tokenization: Part I】

【Gondor】Lending protocol that allows open positions in the prediction market to be used as collateral / Solves the "fund lock problem" in the prediction market / @gondorfi

【Payy】Privacy-focused on-chain bank with a focus on stable coin / Offers privacy-protected transactions through its proprietary ZK roll-up chain, Payy Network / @payy_link

A 5-Minute Recap of last Week's web3 Market

Digitization of Contracts and web3【From the History of Contracts to Smart Contracts: Part 2】

DigiFT, the first regulated DeFi exchange specializing in RWA, raises $11M from SBI Holdings and others, Irys, a data chain, raises $10M, and 17 other PJs in total 【Fundraising PJ Summary】

The History of Contracts from the Middle Ages to the Present【From the History of Contracts to Smart Contracts: Part I】

【Moca Chain】L1 blockchain to be the infrastructure for the "world's largest ID network" led by Animoca Brands / @Moca_Network

【RoboFi Market Report】Overview and case studies of emerging categories of robots and AI agents collaborating, managing, and economizing on the blockchain.

【Rayls】Blockchain infrastructure designed specifically for the needs of banks and other financial institutions with The Blockchain for Banks / Permissionless L2 and Permissioned Network / @RaylsLabs

【Indexy】Platform for "indexing" and analyzing the crypto asset market / Supports diversification and discovery of new projects / @indexy_xyz

【Twyne】DeFi Lending Market Credit Line Delegation Layer / Lending unused borrowing capacity to others / Additional layers of DeFi will increase presence / @twynexyz

【Yield】Infrastructure for embedding staking and DeFi yields with a single API / Integrates 75+ blockchains and 200+ yield sources / @yield_xyz

【Zora New Development】$POST and $CREATOR tokens issued and also linked to $ZORA / @zora

【Nook】Savings app that allows ordinary users to earn high yield by using DeFi / Earn interest of 7-9% per year, which is "about 10 times higher than a regular bank account" / @nook_savings

【Backroom】InfoFi Protocol to Extract and Tokenize Alpha Information from Private Chat with AI / Virtual Protocol Genesis Sale to sell tokens / @useBackroom

Predicting the Future in a World of Mixed CEX and DEX

【SOON】High-performance SVM rollup designed for Super Adoption Stack / L2 using SVM on Ethereum, SVM-based RaaS, and interoperability assurance / @soon_svm

【Yupp】Service to compare and evaluate multiple AI models on a single platform / Collects and ranks human feedback / DePIN2.0 with user benefits / @yupp_ai

【Flipcash】Digital money transfer app built on Solana / Instant free USDC transfers / Second attempt by founders derailed by SEC / @flipcash_app

【InfoFi Frontline】Issues and Possibilities for InfoFi from Kaito Earn and Cookie Snaps

【3Jane】Unsecured USDC Lending Protocol running on Base / Calculates credit score using zkTLS for on-chain and off-chain information / Legally binding in case of default / @3janexyz

【Reflect】Software-as-a-Stablecoin protocol on SVM that allows anyone to create interest-bearing stablecoins / also supported by a16z / @reflectmoney

【Donut】Next generation browser with native integration of crypto-asset related functions and AI agents / @DonutBrowser

【Loud】Proof of Attention experimental project where you can get token transaction fees just by muttering / Using Kaito's Yaps / InfoFi Chapter 2 / @stayloudio

This Week on web3 5min recap

Who is GAS for? - Incentive Design and Currency Value【Part 2】

What is "gas" anyway? - What is a fee and what does it mean【Part 1】

【4/11(Fri)Top 10 Major web3 News】 Gate.io celebrates its 12th anniversary / Babylon deploys Genesis mainnet / President Trump repealing anti-DeFi IRS regulations etc...

【The Music Industry's web3 Usability】An in-depth look at the current market size, major business models, transition, web3 solutions and use cases!

【4/10(Thu)Top 10 Major web3 News】Pakistan Plans to Mine Bitcoin with Surplus Electricity / Markets Recover Following Trump's 90-Day Tariff Relief etc..

【Confidential balances】New feature on Solana to encrypt token balances and transfer amounts to ensure confidentiality / Token-2022 extension / @solana_devs

【4/9(Wed)Top 10 Major web3 News】Aavegotchi NFT game moves from Polygon to Base / Bitcoin's "safe haven" narrative is being tested, etc.

【zkPass】Distributed oracle protocol that bridges private data of Web2 and web3 using zkTLS / TLS and zkTLS overview is also explained / @zkPass

【4/8(Tue)Top 10 Major web3 News】First ever XRP ETF to be launched in the U.S. on Tuesday / Market capitalization of cryptocurrencies down 30% from peak due to tariff disruption etc..

【Foil】futures market protocol for price stabilization of gas and blob space / Eliminates on-chain cost volatility / @foilxyz

【4/5(Sat)~7(Mon)Top 10 Major web3 News】Circle IPO possibility plummets due to Trump tariffs / Bitcoin drops over 3% in 2 hours / Startale Group reinvests "Soneium" sequencing revenue into "ASTR", etc

This Week on web3 5min recap

Codex, a stable coin-specific L1, raises $15.80M, Jupiter acquires DRiP, and Mahojin, an AI image remixing protocol on Story, raises $5M【Fundraising PJ Summary】

The History and Mechanism of Cloud Storage" for Understanding "Distributed Storage"【Part 2】

The History and Mechanism of Cloud Storage" for Understanding "Distributed Storage"【Part 1】

【4/4(Fri)Top 10 Major web3 News】Pectra upgrade mainnet rollout scheduled for May 7 / Babylon 600 million BABY tokens to be airdropped etc..

【Bittensor】Decentralized AI network to facilitate development, sharing, and collaboration of AI models / Subtensor (blockchain) and Subnet (small AI-specific network) work together / @opentensor

【4/2(Wed)Top 10 Major web3 News】FDUSD Stablecoin Depegged by 9% / CoinList Returns to US, Hosts DoubleZero Token Sale / SMBC Partners with Ava Labs to Introduce Stablecoin etc...

【PrivacyPools】A protocol that aims at both privacy protection and regulatory compliance using ZKP / Idea based on papers by Vitalik and others / @0xbowio

【4/1(Tue)Top 10 Major web3 News】Bio Protocol launches V1 upgrade / Altcoins suddenly plunge on Binance / Circle files IPO prospectus with the SEC, etc...

A 5-minute recap of last week's web3 markets

What is a bond? - "Certificate of Debt" and web3【Part 2】

Tabit Insurance, which provides insurance for bitcoin reserves, raises $40M, Rain raises $24.5M, and all 26 other PJs【Fundraising PJ Summary】

What are Securities? - Understanding the "Promise of Value"【Part I】

Next Bubble?The Future of the web3 AI Agent Market with MCPs

【O.LAB】Platform on Monad to develop opinion markets in addition to prediction markets / $5M raised from YZi Labs and others / @opinionlabsxyz

This Week on web3 5min recap

Ethena Raises $116M, Phantom Acquires NFT Data Platform SimpleHash, and 31 Other PJs【Fundraising PJ Summary】

【Time.fun】SocialFi platform that allows users to issue and buy and sell tokens of their personal time in 1-minute increments / Transitioned from Base to Solana / @timedotfun

【Solo AI】Protocol on Story that allows anyone to create, share, and monetize music using AI / Raised $2M from former Sequoia China, Story, and others / @SoloAI_Agent

【Cygnus】Modular real-yield layer that integrates liquidity from multiple chains / Built its own LVS (Liquidity Validation System) system / Raised $20M in pre-seed / @CygnusFi

【Universal】Wrapped asset protocol that enables trading of any token on any chain / Raised $9M from a16z, Coinbase and others / @universaldotxyz

This Week on web3 5min recap

Security Tool Blockaid Raises $50M, Universal Protocol for Interoperability Raises $9M from a16z crypto, Coinbase Ventures and Others, and 25 Other PJs 【Fundraising PJs Summary】

【MegaETH】ETH L2 chain, the world's first real-time blockchain / Achieves Web2-like scalability / @megaeth_labs

【Kaito】InfoFi project that collects all information on web3 and makes it searchable by AI / Yaps that visualizes activities on X and grants tokens / Soon to release its own token / @KaitoAI

【Bunni】First DEX built on Uniswap v4 / Liquidity Density Function allows customization of liquidity and reinvestment of idle assets / @bunni_xyz

【FrodoBots】DePIN to run robots like Mario Kart and use them for AI training data / DePIN + AI's DePAI to become a leading brand / @frodobots

HashKey Group Raises $30M, a16z crypto and Coinbase Ventures Invest in Wallet Solution Legend, and 33 Other PJs【Fundraising PJs Summary】

【Mode】ETH L2 chain dedicated to DeFAI in Optimism Superchain / 25% of sequencing fees to developers / @modenetwork

Thinking about the low-float/high FDV problem

【Berachain】Emerging L1 blockchain adopting Proof of Liquidity (PoL) / BeaconKit built with Cosmos SDK for EVM compatibility / $BERA, $BGT, $HONEY tokens / @berachain

【Keystone】Highly secure cold wallet / Never connected online, only exchange necessary information with online environment to complete transactions securely / @KeystoneWallet

This Week on web3 5min recap

Taproot Wizards, which promotes Bitcoin NFT, raises $30M, Olas, which enables creation and co-ownership of autonomous AI agents, raises $13.8M, and all 23 other PJs【Fundraising PJ Summary】

【ƒlaunch】Token Launchpad with automatic buyback via Uniswap v4 hook / 100% return of transaction fees, NFTing the right to receive transaction fees, fixed price sales for 30 minutes / @flaunchgg

【Usual】Project to issue RWA collateralized USD0 and distribute 100% of investment income from collateralized funds / redistribute ownership and governance through $USUAL tokens / @usualmoney

The Basic Logic Behind the Introduction of U.S. Tariffs Causing Crypto Asset Prices to Fall

This Week on web3 5min recap

Mining Company Cipher Mining Raises $50M from SoftBank, DID Solution Sign Raises $16M from YZi Labs, and 26 Other PJs【Fundraising PJ Summary】

【Nerwo】web3 freelance platform built on Abstract / on-chain work history and payment / over 1,300 registered / @nerwoxyz

【Magnet Labs】Programmable Action Agent Platform / Agent Platform, Natural Language On-Chain Agent, AI to Build Automated Meme Launch System / @magnetaixyz

【Brahma】Infrastructure for AI agents and users to run autonomously and securely on-chain / Swap, bridge, lend, automate, etc. within 1 app / Morph Agent operates with automated AI agents / @BrahmaFi

【Printr】Chain Abstraction Token Marketplace for launching and trading cross-chain / Built Liquid Bonding Curve / Raised $2.5M in pre-seed round / @printrgobrrrr

This Week on web3 5min recap

WLF raises $300M, ETH L2's Corn raises $8.3M, and all 33 other PJs【Fundraising PJ Summary】

【1Money Network】World's First L1 Blockchain Specializing in Stable Coin / Fixed Gas Prices, 250,000 TPS, and Compliance Compliance / Founded by former Binance US CEO and raised $20M / @1MoneyNetwork

【Abstract】L2 Chain for consumers built by Pudgy Penguins team / Native chain abstraction using ZK Stack / Mainnet release planned for January 2025 / @AbstractChain

This Week on web3 5min recap

Helio, a payment platform, acquired by MoonPay for $175M, 1Money Network, an L1 dedicated to stable coin payments, raises $20M, and all 28 other PJs【Fundraising PJs Summary】

【Phala Network】Providing TEE for AI Agents / Providing Highly Confidential and Secure Environment / Building a Unique L2 with Op-Succinct that Combines the Best of ZK and OP / @PhalaNetwork

【REVOX】Providing the only AI agent framework on the BNB Chain / Listed on multiple exchanges with TGE and updated ATH / @ReadOnMe3

【Introduction to DeFAI】What is DeFAI, the New Trend of DeFi + AI? / Overview of DeFAI and Prediction of Noteworthy Projects and Outlook

This Week on web3 5min recap

AI-powered trading platform VOOX raises $50M, distributed AI OS 0G Labs holds public sale, and 26 other PJs【Fundraising PJs Summary】

10 Featured Projects from the Solana AI Hackathon

Three Personal Biggest Trends and Three Biggest Trends for 2025【Part 2】

Three Personal Biggest and Three Biggest Trends for 2025【Part 1】

This Week on web3 5min recap

BIO Protocol raises $64.41M in Public Sale, DePIN's Silencio raises $1.30M to deal with noise, and 10 other PJs【Fundraising PJs Summary】

Overview and update on ai16z and Eliza, which along with Virtual have become major players in the AI agent era

10 projects that I personally goofed on in 2024