A glance at Y Combinator's encryption landscape: 8 major categories, 101 incubation projects
Main points:
Compilation of the original text: The Way of DeFi
Main points:
Y Combinator is a popular startup incubator that hosts annual winter and summer training events;
Y Combinator's alumni programs in crypto and blockchain have raised more than $1 billion in funding;
Some well-known Y Combinator incubation projects, including OpenSea, CoinTracker and Stacks;
In total, The Block counted 101 Y Combinator crypto alumni projects across 8 categories;
Y Combinator, a popular startup incubator, hosts two three-month training events a year. The incubator offers a full range of services, starting with individual one-on-one consulting sessions with partners and ending with Demo Days. The partnership doesn't end there, however, as Y Combinator participants can tap into the alumni network and seek additional funding from the network.
The accelerator invests $500,000 per company in two tranches, with $125,000 invested at 7% of the company's post-money safe valuation and $375,000 invested in the "uncapped SAFE" stage.
Some of the most notable crypto/blockchain projects that have graduated from Y Combinator include NFT marketplace OpenSea, portfolio tracking and accounting software CoinTracker, and Bitcoin smart contract layer Stacks, to name a few.
Almost half of Y Combinator crypto alumni projects fall into the financial services or infrastructure categories, with Web3 and NFT/gaming not far behind.
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Note: The companies in the lower right corner include Coinbooks, Aesthetic, Mysterious, Algofi, Coinrule, Coinfeeds, Hedgehog, Bitaccess, wOS, Bitstack, Bunkyr, Payourse, Quantstamp, and Flux, sorted by the amount raised.
In total, The Block analyzed and counted 101 Y Combinator crypto alumni programs across 8 categories.
1. Encrypted financial services
1. Apollo First is the developer of BizFirst products. The platform enables merchants to create and send stablecoin invoices, accept stablecoin payments, and use NFT coupons to design and run NFT-based loyalty programs.
2. Arda is connecting traditional finance and DeFi in a compliant manner, which will enable customers to access high-yield DeFi products in a single API.
3. Blocknom is an Indonesian platform that provides crypto investment services for retail investors.
4. Coinbooks is an accounting software designed to change the way DAOs perform accounting.
5. CoinTracker is a tax compliance app that fully supports the US, UK, Canada and Australia markets.
6. Derisk develops key escrow software and uses MPC encryption to protect digital assets of enterprises.
7. DolarApp is a developer of a global dollar account where users can receive, send and pay in pesos or dollars, and save dollars to earn income.
8. Excheqr is an encrypted security platform for managing digital assets across multiple blockchain networks, and provides functions such as DeFi access and risk monitoring.
9. Finnt is a financial application using blockchain technology to provide global joint and savings accounts.
10. Flux Payments is a financial service platform that provides asset investment and transaction services for global users.
11. GoSats is a bitcoin rewards company that makes it easy for consumers to accumulate bitcoin while shopping online. The startup has more than 120 brands on its platform, including Flipkart, Amazon, Swiggy, Big Basket and Myntra.
12. Instamenu is building a payment platform for restaurant businesses and food trucks, and the ownership of the platform will be assigned to the participants.
13. Jasmine is a decentralized marketplace for climate assets such as renewable energy.
14. Kapstar provides a UX for cross-border payments for USD checking accounts based on encrypted stablecoins.
15. LiquiFi helps companies and DAOs automate their token ownership, management, and distribution to employees, investors, partners, and community members.
16. Lyra Pay allows users to pay with cryptocurrencies at online merchants by purchasing prepaid cards.
17. Multis is an enterprise crypto banking interface co-founded by Thibaut Sahaghian and Théophile Villard. The company's interface helps businesses store, manage, streamline payments, and earn interest on cryptocurrencies.
18. Paymobil intends to become Web3's CashApp or Venmo by using stablecoins.
19. Payourse is a platform that helps speed up access to crypto by providing the infrastructure to help developers build user-friendly encryption products.
20. Ping, a digital bank for international contractors and freelancers, sets up an encrypted account for them so they can access personal dollar accounts (no matter where they live).
21. Rampay is a crypto deposit and withdrawal payment gateway for Web3 applications.
22. Realty Bits is a digital infrastructure provider that offers private equity products, allowing users to obtain partial ownership of real-world assets such as commercial real estate, energy funds, fixed-income securities, stocks, and more.
23. Request Network is a digital asset payment technology that enables encrypted invoices of companies and individuals to be paid in crypto.
24. Rio is LATAM's encrypted payment provider, users can use cash, bank card or bank transfer to buy and sell cryptocurrency for any wallet.
25. Soon is an investment platform that automatically invests idle funds in users' bank accounts, covering both crypto and more traditional assets.
26. Striga is a crypto-native banking service for card issuance, IBAN, managed crypto wallets, and European compliance solutions.
27. Terrace provides a platform that meets regulatory requirements for institutions that want to get in touch with DeFi. The platform handles asset custody, fund movement, execution, compliance monitoring and transaction accounting.
28. Valiu is a blockchain-based international remittance company.
29. ZeFi is a personal finance platform that provides a savings account that automatically compounds returns on users’ funds.
2. Infrastructure
1. Cashmere is a multi-signature wallet on Solana for creators and developers to manage their funds and workflow.
2. Alterya provides data infrastructure for the decentralized ecosystem, which has a unified API layer for accessing any DeFi protocol.
3. Blockscope is a Web3 data platform for developers to collect on-chain data from the blockchain network and insert it into their applications. Some of the platform's services include contract analytics, wallet analytics, event and transaction database-as-a-service, push notifications, webhooks, and development tools.
4. Bunkyr enables companies to use a simple, hardware-safe API to protect users' data. When users forget their passwords, apps using Bunkyr can provide them with familiar, robust recovery methods to restore access to encrypted data.
5. Chainsight is an encryption and NFT fraud detection solution used to protect Internet-related companies and users from crypto fraud. These solutions help prevent users from transacting with malicious apps, wallets, fake tokens/NFTs, and phishing sites.
6. Immuna assists cryptocurrency investors in managing the risk of investing in this asset class. The platform monitors and protects users from unexpected attacks and bad economic conditions.
7. Internet Friends is an Ethereum wallet through which users can purchase and use digital assets and NFT with friends.
8. NuCypher supports end-to-end encrypted data sharing on public blockchains and decentralized storage solutions. Using NuCypher, developers can grant and revoke access to sensitive data to a certain number of recipients. The company was founded by MacLane Wilkison and Michael Egorov.
9. Poko is developing DAO tools, which will help entrepreneurs and entities create and manage their own DAOs.
10. Maybe Nothing Labs is a data infrastructure company that provides indexers as a service to help Web3 teams power the data backend of their applications.
11. Quantstamp is a company that conducts smart contract, off-chain, network and front-end audits.
12. QuickNode provides the team with blockchain infrastructure and services, including global APIs and Web3 development tools for Ethereum and Bitcoin.
13. Rainbow Wallet claims to be a fun, easy, and secure way to create Ethereum wallets, collect NFTs, and explore the new world of Web3.
14. Satsuma provides Web3 developers with tools for indexing and querying real-time blockchain data.
15. SimpleHash is an NFT multi-chain API that enables web3 developers to easily query NFT data.
16. SlashAuth is a developer platform for web3 applications. The platform provides login functionality, role-based access control, data storage, and more.
17. Stacks is an open source network that supports the development of applications, smart contracts and digital assets on the Bitcoin blockchain. Stacks connect to Bitcoin and make it programmable, acting as a programmable base layer for the blockchain.
18. Stackup is a mobile cryptocurrency wallet designed to make buying digital assets and NFTs easy for beginners.
19. Yatima is a Substrate blockchain that uses formal proofs and zkSNARKs to enhance the security and scalability of smart contracts.
20. Zoltar Labs is a controlled testing environment for Web3 developers to perform smart contract testing.
3. NFTs/Games
1. Aesthetic is a no-code platform designed for the NFT community where creators can create free or paid NFT offerings.
2. Decent.xyz is the developer of DCore, a blockchain platform for digital content distribution. The company was founded in 2015 by Matej Boda, Matej Michalko and Wayman Kwan.
3. Filta is building a face filter NFT market where creators can profit from the limited edition beauties they create for fans.
4. Hyper Online can create unique avatars that can be used on their social networks to record TikTok and other live broadcasts.
5. LootRush is a one-stop shop for blockchain games, which provides a quick entry process and NFT leasing across multiple games.
6. Metafi provides blockchain infrastructure for Web3 game developers through its SDK. The company's SDK helps developers embed non-custodial wallets in games, access APIs for blockchain data, and integrate L2 solution StarkNet.
7. Mintplex provides no-code tools for NFT projects. The platform handles IPFS, smart contracts and minting pages/processes for newly issued NFT collections.
8. OpenSea is an NFT trading market. Users can buy, sell and auction their items. The marketplace was co-founded by Devin Finzer and Alexander Atallah.
9. Players' Lounge is a platform designed to enhance relationships within the sports community by providing tokens to connect fans with their favorite athletes.
10. Rosebud AI offers a subscription-based app that uses artificial intelligence to help creators create animated images and NFTs.
11. Sonar is a platform provider that enables users to track all their Solana DeFi assets.
12. Supercool is an NFT casting market for users to discover new NFT items. The company also provides other features such as security checks on NFT minting address contracts to provide and use advanced features such as Flashbots to avoid front-running transactions.
13. Winter offers an embeddable widget that enables customers to purchase NFTs with a credit card.
14. wOS is a Web3 fitness platform. Players of fitness games can earn rewards by completing daily fitness and activity goals.
4. Web3
1, 2 Cents is a social application where users contribute content to a forum-based community collection and are rewarded with tokens.
2. Argo (Movie) is an NFT platform for the film industry and television distribution, enabling creators to monetize their works and build relationships with audiences.
3. Democracy Earth is an open source platform dedicated to making governance transparent by providing universal basic income (UBI) to users who verify their identities on the platform.
4. Mysterious is a platform for the encryption community to connect in an open forum. The team compares itself to crypto-native Discord.
5. NewShades is developing an alternative to Discord, which will be purpose-built as a web3 native and decentralized autonomous organization (DAO).
6. Notebook Labs utilizes zero-knowledge proofs to provide anonymous and accountable identities for blockchain applications.
7. Openpod aims to make it easier for open source projects to get fundraising and retain developers. The platform enables open source projects to launch a token that incentivizes developers to contribute.
8. Protocol Labs is an open source research and development laboratory, which is the main developer behind the decentralized storage solution and platform Filecoin. The project was founded in 2014 by Juan Benet.
9. Proxy is a web3 identity wallet designed to be used in blockchain-based products as well as real-life use cases such as opening locked doors using Bluetooth technology.
10. Questbook operates an eponymous platform that allows companies to provide grants to developers and invest in them in an efficient and more transparent manner.
11. SolStar is a platform for creating and organizing token communities, powered by Solana.
12. Spruce Systems is a data privacy platform that provides decentralized access control to data, as well as interoperability between Web2 API and Web3, by providing users with the necessary authentication, authentication and storage required for portable reputation. Ability to control its data across networks.
13. the402 is building a decentralized live broadcast platform that will enable artists and content creators to conduct private live broadcasts, which can only be watched by fans who have purchased NFT.
14. Trendex is a social token platform that enables people to invest in the performance of athletes, artists and creators like stocks and company performance.
5. Trading/Brokerage
1. Bitstack is an application that allows users to set up bitcoin fixed investment.
2. Coinrule is an intelligent trading robot for cryptocurrency platforms, allowing users to fully control their encrypted transactions while using robots for automated transactions.
3. Hedgehog is a cryptocurrency aggregator and portfolio manager that enables users to trade on exchanges, track wallets and learn about crypto.
4. HyperTrader (HyperLinq) is a fintech company building institutional-grade trading tools for cryptocurrency traders. By using its desktop trading terminal HyperTrader, users are able to track portfolios and markets on all major crypto exchanges.
5. Mudrex is a platform that provides investment tools, such as custom cryptocurrency baskets or curated portfolios that match an investor's risk level.
6. SFOX is a high-quality cryptocurrency trader for professional traders and institutional investors. The company was founded in 2014 by Akbar Thobhani and George Melika.
7. Tienda Crypto is an Argentinian digital asset exchange for buying and selling cryptocurrencies. The exchange also supports trading on the Ethereum and BNB chains.
8. Tinker is a cryptocurrency electronic trading and market-making company founded in 2014.
9. Weltio offers a USD brokerage account with cash access, robo-advisors, and investment portfolios tailored for Latin American users.
6. Data/analysis/information
1. Canopi provides an emissions calculator and API that allows users to calculate the carbon dioxide emissions of their BTC wallets and invest in carbon removal solutions.
2. Coinfeeds provides crypto-related tweets, podcasts and other news.
3. DanteHQ provides a set of basic data indicators and digital asset research customized for each specific crypto project.
4. Invezo provides a crypto analysis tool and API, aiming to become a Bloomberg terminal in the crypto field.
5. Notabene assists companies in compliant crypto-related transactions. Based in New York, the company was founded in 2020 by Alice Nawfal, Andres Junge, Ania Lipinska and Pelle Braendgaard.
6. roverX is developing a blockchain analytics platform for NFT that monitors the blockchain network and indexes various events to create actionable user insights.
7. TRM Labs is a blockchain intelligence company that provides risk assessments and helps prevent fraud and financial crimes using digital currencies.
7. DeFi
1. Algofi is a lending market and stablecoin protocol based on the Algorand blockchain.
2. Dialect is an on-chain messaging protocol that supports dapp-to-user and user-to-user messaging, sending push notifications directly to users' mobile phones.
3. EthosX is a decentralized financial platform for crypto and traditional derivatives.
4. Meson is a platform capable of performing low-cost, zero-slip stablecoin cross-chain transactions in all leading blockchains and L2 rollups.
5. Sylva is a cryptocurrency wallet and investment protocol that enables cross-chain revenue opportunities. Users can hold and pledge a digital asset, and at the same time invest it in DeFi applications that are not inherent in user-based assets.
8. Enterprise
1. Axoni is a capital market technology company that provides distributed ledger technology that enables data sharing and data synchronization between institutions, while serving as the infrastructure framework for customers to build financial platforms on it.
2. Bitaccess is a cryptocurrency ATM producer in Canada. The company also offers enterprise solutions, KYC/compliance and smart contract development. The company was founded in 2013 by Haseeb Awan, Moe Adham and Vignesh Sundaresan.
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