Inventory of the featured projects of Pantera Capital's 5 funds on the track
Original title: "Pantera Capital launched a new US$200 million fund to lay out the Web3 subdivision track"
old yuppie
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On April 6, Pantera Capital, a well-known encryption investment institution, is launching a new fund, Pantera Select Fund, which plans to raise $200 million in early May. Regarding the fundraising, Pantera said the Select Fund is smaller, more targeted, and therefore more focused than a typical growth fund.
Pantera Capital was founded in 2003 by former Tiger Management Head of Macro Trading and CFO Dan Morehead. Pantera's global macro strategy has invested over $1 billion in institutional allocations, the Pantera Bitcoin Fund is up 57,500% since inception, and the Pantera Venture Funds realized $125 million in profits on $23 million in invested capital across 26 companies. Its investment projects cover various aspects such as blockchain infrastructure projects, financial projects, enterprise projects, and Web3 applications, including well-known ones such as FTX, Terra, BitDAO, Celer, Ankr, Cosmos, etc., as well as not-so-so Known by the public such as Deso, Alchemy, Lithium Finance.
The following article will make an inventory of the 5 funds it has created and the characteristic projects of the track it has laid out.
existing funds
Pantera Capital currently has 5 funds, namely Pantera Blockchain Fund, Pantera Liquid Token Fund, Pantera Early-Stage Token Fund, Pantera Bitcoin Fund, and Pantera Venture. Pantera Capital is launching a new fund called the Pantera Select Fund, which plans to raise $200 million in early May. Aims to help its limited partners gain exposure to three locked-in growth deals and seven to nine other deals over the next year.
Pantera Blockchain Fund was created in June 2021 with a minimum investment of US$1 million and a target amount of US$600 million, providing investment in all aspects of the cryptocurrency and blockchain markets. The venture capital fund will invest in venture equity, early stage tokens and liquid tokens.
The Pantera Liquid Token Fund was created in November 2017 with a minimum investment of $100,000. This is a multi-strategy vehicle, typically investing 15-25 liquid tokens at any point in time. The fund is primarily driven by a discretionary strategy focused on decentralized finance and related assets. The rest of the fund uses quantitative strategies and trades on an hourly basis.
The Pantera Early-Stage Token Fund was created in July 2017 with a minimum restaurant amount of $250,000. The Pantera Early Token Fund is a discretionary vehicle that provides US and non-US investors exposure to early stage tokens with a liquidity period of 1-3 years. The fund invests in teams building new protocols in the blockchain ecosystem and follows the early-stage venture capital model.
Pantera Bitcoin Fund was created in July 2013 with a minimum participation of $100,000. The Pantera Bitcoin Fund is a passive tracker for Bitcoin. The fund provides fast and secure access to bitcoins while removing the burden of purchasing and custody of coins. The Pantera Bitcoin Fund provides investors with daily liquidity and a low fee structure. The fund is formally structured as a Cayman hedge fund and is available to US and non-US investors. The fund is also the first U.S. bitcoin fund, Pantera, up 57,500% in eight years.
The Pantera Venture Fund provides investors with actively managed, multi-stage investment opportunities in companies building products and services in the nascent blockchain ecosystem. In 2013, Pantera launched the first exclusive blockchain venture fund, focusing primarily on companies that enable investors to buy, store and speculate in bitcoin. This was followed in 2014 by raising a second venture fund focused on cross-border payments, regional exchanges and developer tools. In 2018, Pantera successfully raised $175 million for its third fund, focused on companies institutionalizing digital assets as an asset class. The venture fund primarily invests in private equity of early-stage companies, focusing on building blockchain capabilities across various industries and business functions.
infrastructure projects
Alchemy powers some of the top Web3 applications on Ethereum, Polygon, Optimism, Arbitrum, and Flow. Alchemy's core product is designed to take the pain out of self-hosting nodes while providing world-class developer tools. These include Alchemy Supernode (an infrastructure engine that replaces typical self-hosted blockchain nodes), Alchemy Build (a developer toolkit that helps users reduce debugging time), Alchemy Monitor (a monitoring tool that provides users with insight into application program health and growth), Alchemy Notify (timely notification of the most important Web3 events).
Alex Atalla, CTO of OpenSea, once said that "Using your own nodes or error-prone services means wasting hundreds of valuable engineering hours on issues that have nothing to do with your company. Nothing beats the amazing reliability of Alchemy performance, speed and level of support.”
Alchemy provides a blockchain development platform that already supports millions of users in 197 countries around the world, with a mission to provide developers with the fundamental building blocks they need to create the future of technology.
The Livepeer project aims to provide a fully decentralized, highly scalable, crypto token-incentivized real-time video streaming network protocol, and produce a solution that can be used as a real-time media layer in a decentralized development (web3) stack. Additionally, Livepeer aims to provide any existing broadcaster with a cost-effective alternative to centralized broadcast solutions. In this document, the Livepeer Protocol is a delegated stake-based protocol for incentivizing participants in a live video network in a game-theoretic safe manner. This project attempts to distribute game tokens in an inflation system, proposes solutions for scalable verification of decentralized work, and solutions for preventing useless work.
Livepeer Token (LPT) is the protocol token of the Livepeer network. But it is not a medium for exchanging tokens. Broadcasters use Ethereum's ether (ETH) to broadcast video across the network. Nodes that contribute processing and bandwidth earn ETH in the form of broadcaster fees. LPT is a pledged token that participants wishing to perform work on the network can stake to coordinate how the work is distributed across the network and provide security that the work will be done honestly and correctly. LPTs are used for the following:
- It acts as a bonding mechanism in a delegated proof-of-stake system, where stake is delegated to transcoders (or validators) participating in the protocol to transcode videos and verify work. In order to protect the network from many attacks, tokens and the potential slashing that occurs due to protocol violations are necessary.
- It routes work across the network based on the amount of staked and delegated tokens, essentially a coordination mechanism.
- It is a unit of account specific to the Livepeer ecosystem, which forms the basis of the SectorCoin concept for additional features to be introduced in the future. Services such as DVR, closed captioning, ad insertion/monetization, and analytics can all be plugged into the Livepeer ecosystem and potentially leverage the security provided by staked LPT.
Financial projects
BitDAO is a DAO with billions in existing assets and billions in projected contributions, designed to support builders of the decentralized economy. It is an open platform for proposals voted by BIT token holders, chain and project agnostic.
Possible suggestions include:
- Direct cooperation or exchange with projects, and extension through specialized autonomous entities, such as: ecosystem funds, artist guilds, agricultural cooperatives, research and development laboratories, etc.
BitDAO is backed by Peter Thiel, Founders Fund, Pantera, Dragonfly, Spartan, Bybit, and more. It is not a company. It has no management team or employees. BitDAO is a collection of builders and stakeholders who hold BIT tokens and are motivated to make the project successful. Anyone can propose partnerships and protocol upgrades for BitDAO. BIT token holders will vote on whether to approve or reject these proposals. Holding BIT entitles the holder to submit and vote on proposals. It does not give holders the right to impose their will on other contributors. Partnerships or BIT use cases sponsored by others do not require governance proposals (such as hackathons or educational events).
0x is an open-source, decentralized exchange infrastructure that enables the exchange of tokenized assets across multiple blockchains. The protocol serves as an open standard and common building block for any developer needing exchange functionality. In addition to externally audited smart contracts, 0x offers developer tools tailored to the ecosystem, and open access to shared liquidity pools. The diagram above shows an overview of the 0x ecosystem, which includes applications that provide liquidity (supply), applications that consume liquidity (demand), and multiple supported blockchains.
In the 0x ecosystem, there are two aspects Makers and Takers. This is the entity that creates 0x orders and provides liquidity to the system for consumption by Takers. Makers are entities that want Maker Assets. Takers agree to exchange their assets for Maker's assets; in other words, they consume 0x's liquidity. In addition to Makers and Takers, there is also the 0x Community DAO, which is the collective governance organization for the 0x protocol and the ZRX token.
Web3 application
DeSo is a new type of social network that builds from scratch a custom blockchain where users can leverage their influence and content monetization mechanisms. Its architecture is similar to Bitcoin, but it has a larger scale and throughput, which can better support the complex data of social media, such as posts, user profiles, fans, speculative predictions and other functions. And like Bitcoin, DeSo is a completely open source project, there is no company behind it, only tokens and codes.
The DeSo blockchain has its own native token called DeSo, which users can use to perform various operations on the platform, including purchasing a new type of asset called "creator token" as described below.
Anyone can buy DeSo with Bitcoin in minutes through a decentralized "atomic swap" in the built-in program. For specific steps, please refer to the "Buy DeSo" page of its official website. DeSo has a capped supply of approximately 10.8 million, roughly half that of Bitcoin, making it naturally scarce. The coin created is a social token that can be used as a personal asset, and it is the first tool that can be used as an asset. Specific uses include:
- Comment on their posts (reduce spam, improve communication efficiency)
- Send in-site letters/mails (filter spam, give priority to currency holder information)
- Use token to pay for retweets
- Subscribe to premium content
- Distribution and participation (for example: Musk gave away 100 Teslas to his first 100 token holders for free, increasing market demand for tokens)
epilogue
epilogue
With the development of the encrypted world, cryptocurrencies have also been applied to more scenarios, more platforms have begun to support cryptocurrency payments, and wealth institutions such as Goldman Sachs and Morgan Stanley have also invested in the field of cryptocurrencies. Many institutional investors such as endowment funds , Pension funds, etc. have all begun to consider the allocation of Bitcoin and cryptocurrencies. When the traditional financial industry learns more about encryption, more investors will enter this field, and as a pioneer, Pantera Capital is undoubtedly successful (in terms of current achievements). Judging from the funds it has created and the projects and layout it has invested in, it has great interest in the market outlook, especially infrastructure projects, fixed-rate lending projects, and insurance projects.
Original link
References:
https://panteracapital.com/firm/
https://panteracapital.com/funds/blockchain-fund/
https://docs.deso.org/zhong-wen/shi-mo-shi-deso-what-is-deso
https://livepeer.org/zhhttps://docs.0x.org/introduction/introduction-to-0x
https://www.alchemy.com/
