Web3: Stripe targets crypto biz; $2.5B valuation for Immutable; Turn VCs into DAOs; Avalanche $290MM for ecosystem; Elrond network & e-Money
Gm Fintech Futurists —
Welcome to our Web3 newsletter, focused on covering the overall progress in the metaverse, NFTs, and DeFi. To more closely manage which emails you receive, see this post. If you want to go deeper with our weekly long takes and develop a view on the space, check out our premium features below.
We partner with the ConsenSys Cryptoeconomics team to share DeFi analysis, fundamental protocol research, token engineering, and DAO design.
⭐ Mars Protocol: Decentralized Lending and Borrowing on Terra
The core function of the Mars protocol is to operate like a traditional bank in the sense that it attracts deposits, enables lending, manages illiquidity and insolvency risk, but does so all in a fully decentralized, on-chain capacity. One of its key differentiating features is that it allows fully permissionless lending and borrowing as well as pre-approved, permissioned lending to whitelisted entities without requiring collateral. The latter is a novel mechanism which expands the market demand for deposits and helps create a positive feedback loop for all ecosystem participants.
⭐ Layer 2 & Scaling Solutions | March 2022 | Week 2
Terra is experiencing high TVL growth, becoming the biggest alternative L1 with $26B after Ethereum as BSC has collapsed. Also notable is that the Avalanche C Chain is now at $10B+.
NFT, Metaverse, and Gaming
Immutable Raises $200M to Invest in Blockchain Gaming, Bringing Valuation to $2.5B - Coin Telegraph, March 7
GameFi’s Promise and Reality Are Still Worlds Apart - CoinDesk, March 8
LimeWire Makes a Comeback as an NFT Marketplace - BeInCrypto, March 9
World of Women Teams Up With The Sandbox for $25M Inclusivity Push - CoinDesk, March 8
DAOs and Token Engineering
⭐ How To Turn Your VC Firm Into A DAO - Protocol, March 12
MidasDAO — A Multi-Chain Platform Enhancing Investment Opportunities - BeInCrypto, March 9
EmpireDAO Is Building a WeWork for Web 3 - Yahoo Finance, March 9
Polychain Leads $6.85M Investment in ‘Curate-to-Earn’ Project - CoinDesk, March 8
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DeFi and Stablecoins
⭐ Thorchain's RUNE Token Rallies Double Digits Amid Wave of New Features - Decrypt, March 11
Santander to Offer Loans Secured by Grain-based Crypto Tokens - The Block, March 8
dYdX Launches Beta iOS App for Limited Users - The Block, March 9
USDF Stablecoin Consortium Expands to Eight Banks - Ledger Insights, March 9
⭐ Elrond Network To Acquire e-Money Licence in Romania - CryptoPotato, March 10
A $165 Million ‘Bitcoin Odyssey’: Okcoin, Stacks Aim to Accelerate BTC Adoption - Decrypt, March 11
Ethereum Layer 2 Developer StarkWare is Raising Funds at a $6 Billion Valuation: Report - The Block, March 10
Avalanche Foundation Announces $290M for "Multiverse" Program - Crypto Briefing, March 8
What Is Solana (SOL) Pay, And How Does It Work? - CoinTelegraph, March 13
Crypto, Fintech and Institutional
⭐ Stripe Announces Fiat Payment Support for Cryptocurrencies and NFTs - Coin Telegraph, March 11
Bain Capital Ventures Launches Crypto-focused Fund Worth $560 million - The Block, March 8
Goldman Sachs Offering ETH Fund to Clients Through Galaxy Digital - CoinDesk, March 8
EU Confirms Crypto Will be Included in Russia Sanctions as 'Transferable Securities' - The Block, March 9
Enterprise Chains and CBDCs
⭐ Jamaican Central Bank to Airdrop Jam-Dex CBDC to Early Adopters - Coin Telegraph, March 11
HBAR Foundation Launches $100M Climate-Focused Impact Fund, Declaring DOVU as Inaugural Grantee - Coin Telegraph, March 10
Everything You Need to Know About BlockApps’ TraceHarvest Solution - Blockchain Healthcare Review, March 13
The Philippines to Launch Pilot CBDC Implementation - Coin Telegraph, March 8
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