Recap of DeFi Space, July 2021
Defiprime Monthly #35
New DeFi Products
Fixed Forex is a decentralized stablecoin framework built by Andre Cronje, that is designed to be immutable, 0 fee, and 0 governance. It also introduces gentle liquidations, with the absolute minimum amount of debt being repaid to bring a users position to an even stance, with no more worry about the full stack being liquidated further down in drawn down events.
Beta Finance is, in its own words, the first permissionless money market protocol aimed at being able to lend, borrow, and short any crypto asset. It also aims to make the shorting process simple and fast, with the click of a button.
Trident is Sushi’s new next-gen AMM, in which the core focus is on capital efficiency and cryptocurrency volatility protection, through powerful yet intuitive easy-to-use tools.
HadesDAO, a project which has not launched, is a factory for the general DAO design. In that factory, you’re able to create a HadesDAO for yourself, using their tool called Perseus, in which the aim is to create an ecosystem of HadesDAOs backed by a variety of assets.
TWAMM, or the time-weighted average market maker, is a new concept of AMM that would help traders execute large orders with great efficiency, by breaking long-term orders into infinitely many small pieces and executing them smoothly over time.
Finance.vote is a sponsor of our monthly newsletter for the next 6 months 🙏
Finance.vote is a protocol for decentralised governance. At its heart is a DAO that governs a dApp suite, which provides all the tools that decentralised organisations will need to build a sustainable token economy. Finance.vote champions collaboration and digital democracy through decentralised technology and welcomes new and established protocols to upgrade their markets and governance.
What’s new at Defiprime
Defiprime listed a handful of new products this month. They include:
NFTKEY, a decentralized NFT marketplace that allows for ETH and BSC NFTs to be listed, bid on, bought and sold without centralized servers.✅
Interviews with DeFi projects
Interested in Notional Finance? We recently talked with Co-founder Teddy Woodward of Notional about how they are introducing fixed rates to crypto, and a new possible set of use cases in DeFi. Find it here.
Tesla purchased with DeFi
Understanding Token Economics
The P/E (Price to earnings) ratio at Tokenterminal
Iron Finance rebuild plan
DeFi Q2 2021 Review
💸 Venture Financing
Mintable raised $13M in Series A funding at the start of the month, with main investors including Ripple, Metapurse, and more.
DinoSwap raised $4.7M from investors on the 3rd of July, including their anchor fund.
The protocol Tranchess raised $1.5M in seed funding on the 4th of July, with important investors including Three Arrows and Spartan.
The Index Cooperative raised $7.75M near the start of July in a strategic treasury diversification round, with main investors being 1kx and Galaxy.
The DeFi investing platform, Zerion, raised $8.2M in a Series A at the beginning of July, with the main investor being Mosaic Ventures.
UMA raised $2.6M with their Pilot of the Range token, near the middle of July.
Superfuild raised $9M to build their ideal real-time finance economy, funded by many investors.
Nifty’s launched a NFT-focused social media platform with $10M in seed funding.
The interoperability project, Connext, raised $12M from 1kx, ConsenSys, and many more investors.
ClayStack raised $5.2M in seed funding, with investment being dominated by CoinFund and ParaFi.
The DeFi wallet, Phantom, raised $9M in Series A funding in the middle of July, led by investor A16z (Andreessen-Horowitz).
Blocknative raised $12M in Series A funding so that they could make monitoring and managing blockchain transactions easy.
Seed Club raised $2M to help them build the “YCombinator of Tokenized Communities.”
Tempus closed their $1.9M seed funding round in the middle of July, to help build their protocol.
Visor Finance raised $3.5M in strategic funding so they could develop their next phase of their protocol.
CoinFund launched a $83M venture fund in July, with their mandate including DeFi and NFTs.
Coin98 raised $11.25M in strategic funding, with main investors being Hashed and the Spartan Group.
The NFT Marketplace, 4k, raised $3M to further their goal of selling NFTs and luxury goods as one.
Tokemak raised $4M from Framework Ventures and other major DeFi investors to build their “liquidity reactor.”
$3.3M was raised by Lyra, an ETH options protocol, built on Optimism and Synthetix.
Yield Guild Games raised an astonishing $12.5M in just 31 seconds during one single token sale, near the end of July.
The Solana-based stablecoin exchange Saber, raised $7.7M in July.
Hedgehog Markets raised $3.5M in a funding round with the Solana Foundation and Alameda Research’s help.
EthSign recently raised $650K in seed funding to help put signed documents on the blockchain.
The NFT-based game Splinterlands raised $3.6M in their own private token sale, related to governance of the game.
Biconomy raised $9M in private funding at the end of July, so they could simplify crypto transactions.
Tenderly raised $15.3M to help ETH developers ship decentralized apps faster with their project.
AlchemyNFT raised $6M for their NFT remix platform for autographing NFTs, with major investors including Mark Cuban, Crypto.com, Framework, and more.
Bank of America, FTX, Coinbase Ventures joined a $300M investment round recently in Paxos.
Upcoming DeFi Events
Smart Contract Summit #1 - 05 Aug 2021 - Online
DeFi Conference 2021 - 05 Aug 2021 - Online
LA Blockchain Summit - 02 Nov 2021 - LA, US and Online
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