An overview of Dragonfly's investment landscape: more than 150 projects, all over DeFi, infrastructure and NFT
Originally written by Peng SUN, Foresight News
Originally written by Peng SUN, Foresight News
As the first generation of Internet technology and application investors in China and the earliest batch of blockchain evangelists in China, Dragonfly founded by Feng Bo is well-known in the encryption industry. This is a cryptocurrency venture capital fund that was born in 2018. Ventures Investment Advisor Alexander Pack and Ceyuan Venture Capital under the leadership of Feng Bo were jointly established.
Today, Dragonfly has grown into a top global investment institution. Although the hedge fund Liquid Opportunities was acquired by Brevan Howard Asset Management in March this year, Dragonfly's funds still include Dragonfly Ventures and Metastable, one of the oldest encryption hedge funds.
During its five-year development, the two slogans of "Global from day one" and "Technology is Culture" have always guided Dragonfly's investment practice. A group of members from all over the world with a global vision and technological humanism has long adhered to three main investment directions, namely, core blockchain technology and underlying protocols, infrastructure connecting centralized and decentralized economies, and The fund of funds invests in new encrypted asset management funds, trying to realize the complementarity between the East and the West in technology and market, and promote the entry of Web2 and classical VC into the world of blockchain and Web3.
Under the guidance of the above investment philosophy and direction, Dragonfly's investment style and practice also have a gradual and refined process, which also reflects the development trend of the encryption industry:
In 2018, Dragonfly Capital raised $100 million for its first fund, Dragonfly Ventures, focusing on investing in cryptocurrency startups;
On March 26, 2021, Dragonfly Capital raised US$225 million for the second fund "Dragonfly Ventures II", focusing on NFT, DeFi, Ethereum Layer 2 solutions and related businesses;
On April 27, 2022, Dragonfly Capital raised $650 million for its third encryption fund "Dragonfly Ventures III", which will focus on all stages of blockchain and encryption companies creating a "new digital economy" and double their investment Supporting the next breakthrough in crypto infrastructure, DeFi, smart contract scaling, and breakthrough consumer products such as NFTs, blockchain games, and DAOs.
As of now, according to statistics from the official website and other public information, Dragonfly has more than 150 investment portfolios, covering multiple tracks such as DeFi, CeFi, L1 & L2, NFT & Metaverse & games, infrastructure, encryption funds, etc., throughout Ethereum, Avalanche , Polygon, Aptos, Solana, Cosmos, NEAR and other public chain ecology, in 1inch, dYdX, Compound, Lido, MakerDAO, ConsenSys, Flashbots, RSS3, Animoca Brands, Dune Analytics, Galxe, OneKey, StarkWare, Matter Labs and other star heads Dragonfly can be seen in the financing of the project.From the second half of 2021 to 2022, with the full expansion of the Web3 concept, Dragonfly's investment pace will be significantly accelerated. according toBlockchain Daily
DeFi
The data shows that Dragonfly invested in nearly 80 projects in total between 2019 and 2021, and initially invested in Metaverse, Web3 creator economy, NFT, DAO and other fields in 2021. However, according to the author's incomplete statistics, Dragonfly will invest in at least 53 projects throughout the year in 2022. In addition to infrastructure, it will slightly involve NEAR and Solana ecology, focusing on NFT, Metaverse, chain games, Web3 social, creator economy, DAO and other items. In more than three months since 2023, Dragonfly has invested in 10 projects, focusing on DeFi, Web3 creator economy, new public chain, emerging exchanges, AI, etc. Overall, as a leading institution, Dragonfly's investment portfolio has become a bellwether of the encryption market.
1inch NetworkTrading & AMM & Liquidity
HashflowIt is a decentralized trading aggregator, launched in May 2019, which brings together the liquidity of various decentralized exchanges to help users trade at a more favorable price. According to the information on the 1inch.io website, the total transaction volume so far is 282 billion US dollars, and the total transaction volume is 29 million.
It is a multi-chain automatic market maker DEX. Through the Hashflow protocol, on-chain traders can obtain the best prices on both on-chain and off-chain trading platforms at the same time, and can trade at the best quotation, which has the characteristics of low price difference, zero slippage, and anti-EVM.
RenegadeIn July 2022, Hashflow announced the completion of a US$25 million Series A round of financing, with a post-investment valuation of US$400 million. Investors include Electric Capital, Dragonfly Capital Partners, LedgerPrime, Balaji Srinivasan, Jump Crypto, Wintermute Trading, etc.
It is an on-chain dark pool trading solution based on MPC and ZKP, which aims to improve execution prices in DeFi by preventing front-running, sandwich attacks, and arbitrage.
Skolem LabsIn February 2023, Renegade completed a $3.4 million seed round of financing, led by Dragonfly and former AngelList CEO Naval Ravikant.
It is a data and transaction execution service provider, aiming to provide a safe and reliable entrance for institutional investors who want to enter the DeFi market.
WOO NetworkIn June 2022, Skolem completed a US$20 million Series A financing led by Galaxy Digital and participated by Dragonfly Capital. The funds raised will be used to recruit and improve the company's technical capabilities to further help institutions access DeFi.
It is a zero-taker rate aggregation Swap, which can aggregate centralized exchanges and decentralized trading orders, and provide them to institutional users and DEX protocols. WOO Network, formerly known as WOOtrade, is an ecological network focused on cryptocurrency liquidity incubated by Kronos Research.
OrderlyIn October 2020, Wootrade announced that it has received investment from Dragonfly Capital.
TrisolarisIt is a permissionless, decentralized trading protocol and modular ecosystem built on NEAR, using an on-chain order book, equipped with a risk engine, a matching engine and a shared asset pool, which can be used to build DApps. Orderly Network's on-chain order book exchange is composable and supports the construction of modular DApps and various financial instruments, such as spot trading, margin trading, perpetual contracts, and lending.
It is a decentralized trading platform on the NEAR ecosystem Aurora, which mainly supports the exchange of native assets on the Near and Aurora networks, and supports all Layer 1 public chain assets compatible with EVM to cross-chain to the Aurora network. Since Trisolaris is built on the Aurora network, the gas fee paid when using it is ETH, so users can enter the Near ecology as long as they have ETH, which lowers the participation threshold of the Near ecology. In May 2022, Trisolaris launched the stablecoin trading pool 5 pool, including USN, WUST, FRAX, USDT, and USDC five USD stablecoins. Trisolaris will provide additional AURORA liquidity mining rewards for this stable currency pool. Previously, the liquidity incentives on USDT/USDC will be migrated to 5 pools. Trisolaris used to be the decentralized trading application with the largest trading volume and TVL in the NEAR ecosystem. According to DefiLlama data, on January 17, 2022, Trisolaris’ TVL reached a record high of US$584 million, but as of now, Trisolaris’ TVL is only Around $5.6 million.
Ref FinanceIn April 2022, Trisolaris completed a financing of US$4.5 million, led by Electric Capital, with participation from Jump Crypto and Dragonfly Capital.
It is a NEAR ecological AMM and stablecoin exchange protocol that supports exchange, cross-chain exchange, liquidity staking, voting, etc. It was initially created by Illia Polosukhin, the co-founder of NEAR Protocol, and will gradually be fully managed by the community.
Paradigm LabsIn February 2022, Ref Finance announced the completion of a US$4.8 million strategic round of financing, led by Jump Crypto and participated by Dragonfly Capital and others.
CoFiXis a DeFi liquidity project that aims to build a decentralized relay protocol. In March 2020, Paradigm Labs announced its closure “due to failure to determine product-market fit and lack of funding,” its CEO said. Paradigm Labs completed a seed round of financing with an undisclosed amount in 2018, led by Polychain Capital and participated by Dragonfly Capital and others.
It is a new generation of automatic market-making trading protocol driven by a decentralized price oracle on the chain. It optimizes the situation that the first generation of AMM will be continuously arbitraged (impermanent loss), hoping to provide traders with the best spread.
Saddle FinanceIn October 2020, CoFiX completed a financing of US$500,000, with participation from Dragonfly Capital and Coinbase Ventures.
It is a decentralized automatic market maker (AMM) on Ethereum, which aims to realize effective transactions between encrypted assets anchored in value, and provide traders with low-cost, high-level, fast-moving, and low-slip exchange.
AlkimiyaLending & Derivatives
It is a decentralized futures market, founded by former Itaú Unibanco engineer Ricardo Grobel and former Morgan Stanley employee Zhang, where miners and verifiers can sell computing power to buyers, providing block space producers such as miners and pledge verifiers Hedging solution.
ARCxIn November 2022, Alkimiya completed a financing of US$7.2 million, led by 1kx and Castle Island Ventures, and participated by Dragonfly, Circle Ventures, Coinbase Ventures, BODL Ventures, etc. The funds will be mainly used to expand its team. Launch of full product suite, including Vault product and ETH staking contract on Ethereum mainnet.
CegaIt is a DeFi credit scoring protocol on Polygon, which supports on-chain identity and credit score-based lending. Different from over-collateralized lending platforms such as Aave and Compound, it provides a dynamic loan amount with ETH as collateral based on the borrower's DeFi credit score, aiming to become a rate platform that can use products through user chain activities. ARCx is mainly composed of two major products: "ARCx Credit" lending application and "DeFi Passport" credit scoring system on the chain.
It is a DeFi derivatives protocol based on Solana, founded by former UBS derivatives trader Arisa Toyosaki, to create exotic derivative contracts and consumer-oriented pledge products for retail investors. Cega's first exotic options product was the Fixed Coupon (FCN), which was a basket of puts and a call with knock-in and knock-out barriers, namely Cruise Control, Genesis Basket, and Gotta Go Fast. Cruise Control tracks BTC and ETH, and the latter two track BTC, ETH, and SOL. Cega has launched Cega Super Sanics Utility NFTs, NFT holders will enjoy benefits such as airdrop benefits and participation in high APY pools.
CompoundIn March 2022, Cega completed a $4.3 million seed round of financing, led by Dragonfly Capital, with participation from Pantera Capital, Coinbase Ventures, Alameda Research, Solana Ventures and others. On March 28, 2023, Cega completed a new round of seed financing of US$5 million, led by Dragonfly, and participated by Pantera Capital and Robot Ventures. The funds raised will be used to launch new products on Ethereum, including leveraged options. Now Some products will continue to be available on Solana. In addition, Cega will launch a new market-making entity called Tras Mobian next week, which will focus on common and exotic cryptocurrency derivatives.
DerivaDEXIt is an Ethereum-based DeFi lending protocol. Compound III is compatible with EVM and can provide encrypted assets as collateral to borrow the underlying asset (USDC). Users can also earn interest by providing underlying assets to the protocol.
BENQIis a community-governed decentralized derivatives trading protocol that combines performance and user asset autonomy.
dYdXIt is a non-custodial liquidity market agreement in the Avalanche ecosystem. It expands DeFi through a set of yield-generating products. The platform provides a lending market where users can borrow and lend digital assets.
LemmaIt is a decentralized exchange based on Ethereum, providing users with financial tools such as perpetual contracts, margins, spot transactions, and loans.
OpynIt is a DEX perpetual futures liquidity agreement that allows traders to use the liquidity of the underlying perpetual futures exchange to perform spot swaps and earn sustainable, market-neutral returns through USD-linked stablecoins.
Ribbon FinanceIt is a decentralized options platform based on Ethereum, where users can earn income through option trading or providing liquidity. Opyn allows users to buy, sell and create options on ERC 20. It is an option agreement without custody and an insurance agreement without permission. Opyn has gone through iterations of V1 and V2, and currently both versions have basically failed. Now, the Opyn team has turned its focus to a new direction, Squeeth.
Sense FinanceIt is a multi-chain decentralized structured options protocol, which aims to help users make profits through different option strategies. Users only need to deposit funds. It is more suitable for players who are not familiar with the options market but want to enter the market.
Solendis a fixed-rate lending protocol on Ethereum that allows users to manage risk through a fixed rate versus the future yield of existing yielding assets. Sense, running on Ethereum since March 2023, works by splitting a variable yielding asset (underlying asset) into two fixed-term assets: Principal Tokens (PT) and Yield Tokens (YT) . Principal tokens and yield tokens are traded on Sense Space, a high-yield custom AMM. Sense launched ETH and USDC fixed rate pools at the beginning of its launch, supporting stETH and cUSDC assets in the 1 mo and 3 mo series. Sense will also deploy Fuse pools to release leveraged liquidity and magnify user profits and losses.
SynfuturesIt is a Solana-based algorithm and decentralized lending protocol, designed to achieve high-speed and low-cost lending on the Solana chain. In March, Solend released the Solend V2 white paper, introducing risk management and improving decentralization. According to the white paper, Solend V2 will include: protected collateral, TWAP oracle, borrowing ratio, outflow rate limit, mortgage limit, isolation layer assets, dynamic liquidation bonus, trilinear interest rate model, risk authority, on-chain metadata, Abandon asset processing, permissionless liquidity mining on the chain, account entrustment, Loss Socializing, etc. Solend V2 will be released in the next few months.
ParclIt is a Polygon ecological derivatives protocol. At present, V2 has been launched on Polygon, allowing futures trading pairs to go online without permission. Traders can list any futures trading pairs without permission. In addition, synthetic automatic market makers have been introduced (sAMM) technology, allowing liquidity providers to provide only one asset in the transaction pair (such as stable currency), and other upgrades include improving the user interface and strengthening risk management functions through one-click design. V3 is coming soon. Additionally, SynFutures has launched NFT futures.
It is a Solana-based real estate digital investment platform that allows users to enter the real estate market without a minimum investment, provides instant liquidity, and has low transaction costs.
ApeXIn May 2022, Parcl announced the completion of US$7.5 million in strategic financing, with Dragonfly participating.
It is a multi-chain-based decentralized derivatives protocol, incubated by Bybit's Davion Labs, dedicated to creating perpetual contracts for any token pair. On November 21, 2022, ApeX Pro, a non-custodial decentralized social trading platform based on StarkEx, will be launched on the StarkEx mainnet.
Debt DAOIn March 2022, ApeX completed its seed round of financing, with an undisclosed amount, led by Dragonfly Capital.
It is a trustless on-chain credit one-stop service agreement, providing secured loan solutions for debt financing of encrypted entities. Debt DAO creates an open, permissionless debt market, the Cryptonative Credit Marketplace, connecting borrowers and lenders on-chain. The Debt DAO enables revenue-based financing for crypto entities (DAOs, protocols, etc.), and it does so through a smart contract called "Spigot," which "guarantees on-chain cash flow to borrowers and automatically repays Lender".
AurigamiIn August 2022, Debt DAO completed a $3.5 million seed round of financing, led by Dragonfly Capital.
It is a DeFi lending agreement on the NEAR ecological EVM expansion network Aurora, which can turn the idle assets on Aurora into interest-bearing auToken, and realize the leverage effect through mortgage lending, so as to deploy the borrowed funds to other places to obtain additional income , enabling users to lend, borrow and earn interest on digital assets.
Porter FinanceIn July 2022, Aurigami completed $12 million in financing through token sales, of which $9.5 million was raised through private placement token sales, and $2.5 million was raised through IEOs on KuCoin, Bybit and Impossible Finance. This round of financing was sponsored by Dragonfly and Polychain Capital led the round. In February 2022, Aurigami announced the completion of a financing. The specific financing amount was not disclosed. Dragonfly Capital and Polychain Capital jointly led the investment.
is a DAO-collateralized lending protocol that allows reputable DAOs to obtain fixed-rate financing using their project tokens as collateral. In July 2022, Porter Finance stated that it will shut down the bond issuance platform, and Porter Finance's application will remain operational until all Ribbon DAO lenders redeem or convert their bonds. In November, three members of the original team relaunched the project, rebranded as Arbor Finance, with the aim of allowing DAOs to borrow funds at a fixed rate without worrying about liquidations by using the native token that makes up the majority of their treasury. Russell Bookland, co-founder of Arbor Finance, said that he still believes that there is great potential for bond issuance on the chain, so he decided to use a fork of the Porter code to build Arbor Finance.
BurrowIn April 2022, Porter Finance completed a $5 million seed round of financing, with participation from Dragonfly Capital and others.
It is a NEAR ecological decentralized lending agreement. Borrowers and lenders trade through liquidity pools. The interest rate of each loan and borrowing is determined according to the supply and demand changes in the pool, similar to the lending agreement Compound on Ethereum. Burrow allows users to convert their "basic assets" into interest-earning assets first, support interest-earning assets as "collateral" to lend other assets, and improve the efficiency of capital use by making full use of interest-earning assets in a revolving loan manner.
Domination FinanceIn March 2022, Burrow completed a financing of US$5 million, and Dragonfly Capital and others participated in the investment.
It is a decentralized advantage pair trading platform, deployed on Ethereum, Polygon and Boba, which can provide users with derivatives of mainstream currency advantages, such as Bitcoin advantage (BTCDOM), Ethereum advantage (ETHDOM) and Tether advantage (USD TDOM).
Anchor ProtocolIn September 2021, Domination Finance completed a US$3.2 million seed round of financing, led by ParaFi Capital and participated by Dragonfly Capital and others.
It is a Terra ecological fixed-rate loan and savings agreement.
In March 2021, Anchor Protocol completed a financing of US$20 million, with participation from Dragonfly Capital and others.
JuiceboxPledge & Asset Management
Lidois a programmable crowdfunding platform with a DAO treasury management protocol that signals to users in advance how their money will be spent by allowing projects to make commitments on how to distribute their cash flow before donations are received. Users who fund projects on Juicebox by paying ETH will receive the project's tokens in return. As a governance minimization protocol, Juicebox provides a set of simple parameters that can be customized by creators or project parties when initiating fundraising, so as to formulate an economic model that suits their own characteristics. These parameters mainly include fundraising cycle, fundraising goal, fund allocation, retention rate, discount rate and bonding curve ratio, etc.
SoceanIt is an Ethereum liquidity staking protocol that provides ETH staking derivatives services and charges management fees, allowing users to obtain liquidity token rewards without locking assets or maintaining their own staking infrastructure, just deposit ETH into the Lido smart contract Receive transferable stETH (Lido platform pledged ETH liquidity token). In return, 10% of all ETH staking proceeds (changeable by LDO voting) goes to Lido DAO, controlled by LDO token holders.
Saffron FinanceIt is an algorithmic liquidity staking protocol based on Solana. The core products include Socean Stake and Socean Streams. The former is a staking pool with the best entrustment strategy and the highest risk-free annual interest rate, and the latter is a governance token flow market.
PoolTogetherIt is a point-to-point risk adjustment protocol that tokenizes assets on the chain, providing liquidity providers with greater flexibility, uninterrupted access to their underlying collateral, and realizing leveraged fixed investment and customized risk management.
Cozy FinanceIt is a non-destructive lottery savings project. The interest of depositors’ deposited funds constitutes a prize. Depositors have the opportunity to win prizes while saving. If they do not win prizes, they will not lose their principal.
Entropyis an open-source protocol that provides a platform to programmatically protect assets from loss, enabling investors to participate in an automated and trust-minimized protection market, mitigating the pain typically associated with investing in decentralized finance (DeFi) markets and applications risks of.
It is an institution-oriented decentralized asset custody protocol that utilizes encryption technology based on multi-party computation to provide users with a method to deposit and use cryptocurrencies on any blockchain at any time.
Meta PoolIn January 2022, Entropy completed a $1.95 million Pre-Seed round of financing, with participation from Dragonfly Capital, The LAO, and P2P Capital. In June, Entropy completed a financing of US$25 million, led by a16z, and participated by Coinbase Ventures and Dragonfly Capital.
In December 2021, Meta Pool completed its seed round of financing, with participation from Dragonfly Capital and others.
stable currency
Frax Financestable currency
MakerDAOIt is a mixed-algorithm stablecoin protocol based on a partial mortgage mechanism. It is developing from a single currency protocol to a stablecoin-centric DeFi matrix. Its vision is to create a highly scalable decentralized currency to replace fixed-supply digital currencies such as BTC assets. Frax's competitive advantage mainly comes from a more capital-efficient currency mechanism and a flexible monetary policy based on the AMO module.
It is the issuer of the stable currency DAI on Ethereum and a decentralized autonomous organization founded in 2014. MakerDAO is jointly managed by users who hold its governance token MKR around the world. Its governance system is divided into executive voting and governance voting. MKR holders manage the financial risks of Maker Protocol and Dai to ensure its stability, transparency and efficiency. The voting weight of MKR is proportional to the number of MKR voters have in the voting contract DSChief. The more MKR tokens locked in the contract, the greater the voter's decision-making power.
In December 2019, the MakerDAO Foundation announced the completion of $27.5 million in financing (5.5% of the total MKR), with venture capital funds Dragonfly Capital Partners and Paradigm as investors.
Axelar NetworkCross-chain
It is a cross-chain interoperability protocol, which mainly realizes the cross-chain of Ethereum ecological tokens (such as USDC, WETH, WBTC, DAI, etc.) to the Cosmos ecosystem to provide liquidity. Developers can make simple asynchronous calls through Axelar's SDK to seamlessly call contracts on another supported chain, and all its nodes support other blockchain networks such as Ethereum, Avalanche, and Cosmos.
LI.FIIn December 2022, Axelar launched a USD 60 million ecological start-up capital plan, with participation from Dragonfly and others. In February 2022, Axelar completed a US$35 million Series B financing with a valuation of US$1 billion. Investors include Dragonfly Capital, Polychain Capital, etc. In July 2021, Axelar completed a US$25 million Series A financing led by Polychain Capital, with participation from Dragonfly Capital and others.
In July 2022, LI.FI completed a financing of US$5.5 million, led by 1kx and participated by Dragonfly and others.
infrastructure
XLD Financeinfrastructure
It is a decentralized ecosystem based on stablecoins, aiming to provide financial services to emerging economies and become the financial center of choice for all users and institutions in the Metaverse. XLD Finance will be released in June 2021, and the ecosystem plans include xSpend, OmniX, xMoney, Wallet and xMerchant. In January 2022, XLD Finance launched its first ecosystem project, xSpend, which allows users to use stablecoins and GameFi tokens to pay utility bills and recharge mobile phones. OmniX plans to allow users to cross-chain manage the cryptocurrency paid to the recipient; xMoney will provide a gold withdrawal channel; the wallet is non-custodial, and its functions include mortgage, exchange, sending, cross-chain, lending and payment, etc.; xMerchant allows customers to use encryption Currency to buy goods.
Econia LabsIn July 2022, XLD Finance completed a US$13 million Series A financing led by Dragonfly and Infinity Ventures Crypto.
It is the Aptos ecological DeFi infrastructure protocol, which aims to develop a back-end protocol that provides order book transactions and supports integration with DeFi applications that provide a range of transaction options, such as spot transactions or leveraged derivatives. The protocol was developed by Econia Labs in collaboration with the Aptos team.
Penumbra LabsOn March 29, 2023, Econia Labs completed a $6.5 million seed round of financing, led by Dragonfly.
It is a Cosmos ecological privacy protection project. It has built a cross-chain PoS network and DEX Penumbra, which introduces privacy into the PoS mechanism, allowing anyone to safely conduct transactions, pledges, exchanges or market makers without leaking privacy, while still allowing the choice sexually disclosed to appropriate parties.
CeFi
In November 2021, Penumbra Labs completed a seed round of financing of US$4.75 million, led by Dragonfly Capital, which was used to incubate Penumbra.
Bitgetexchange
It is an encrypted asset trading platform featuring contract trading and documentary trading, established in 2018. Currently, Bitget provides services to more than 8 million users in more than 100 countries and regions around the world. Bitget's partners include legendary Argentine football player Lionel Messi, well-known Italian football team Juventus and official esports tournament organizer PGL. In March 2022, Bitget announced an additional investment of US$30 million to acquire a controlling stake in the encrypted wallet BitKeep at a valuation of US$300 million, and changed BitKeep's name to Bitget Wallet.
BybitOn April 4, 2023, Dragonfly made a strategic investment of $10 million in Bitget. This investment will support Bitget's global expansion and product line expansion, and carry out more public welfare education activities related to encrypted assets.
ErisXIt is a cryptocurrency exchange that provides online spot and derivatives trading services, mining and staking products, and API support for global retail and institutional customers.
Ejarais an American digital asset spot market operator, providing individuals and institutions with a single platform to access cryptocurrency spot and futures markets. Around May 2022, Chicago options trading platform Cboe announced the acquisition of Erisx.
It is a Cameroonian financial technology company and an encrypted asset trading platform that provides users in French-speaking Africa with the services of buying, selling, exchanging and storing their cryptocurrencies using non-custodial wallets. In addition to cryptocurrencies, it is also tokenizing government bonds and issuing savings products against them.
LuminaIn November 2022, Ejara completed a US$8 million Series A financing, led by Anthemis and Dragonfly, and participated by HashKey and others.
is a digital asset primary dealer and financial platform for hedge funds and family offices, aiming to accelerate the mass adoption of digital assets by bridging the gap between traditional finance and encryption, thereby lowering the barriers to larger investments. Lumina serves clients from Asia, Europe and North America. Unlike trading through individual exchanges or OTC desks, Lumina offers multi-venue, direct market access and smart order routing. Lumina's technology maximizes compliant liquidity, providing clients with optimal trade execution with unprecedented transparency.
VIBRAIn October 2018, Lumina completed a financing of 4 million US dollars, and Dragonfly participated in the investment.
It is a Nigerian cryptocurrency exchange focused on the African market, built and launched by African Blockchain Lab.
CoinFLEXIn December 2021, African Blockchain Lab completed a US$6 million pre-A round of financing, with participation from Dragonfly Capital, HashKey Capital, SNZ Capital, Fenbushi, etc. to fund its launch of VIBRA.
BitWellIt is a cryptocurrency derivatives exchange. It applied for reorganization in Seychelles in August 2022 and was approved by the Seychelles court in March 2023. Afterwards, Open Exchange (OPNX), a public market for encrypted claim transactions and derivatives launched by Su Zhu, Kyle Davies, the founders of Three Arrows Capital, and CoinFLEX, said that it will acquire all assets of CoinFLEX, including personnel, technology and tokens, and CoinFLEX will also acquire Renamed to Open Exchange.
It is a digital asset derivatives trading platform. In October 2022, BitWell announced that it would suspend related services due to its cooperation with the police investigation.
In September 2020, BitWell completed a strategic financing of US$30 million, with participation from Dragonfly Ventures, HashKey and others.
Amber GroupAsset Management & Comprehensive Finance
MatrixportIt is a global encrypted financial intelligence service provider, established in 2017, headquartered in Hong Kong, the founders are from top Wall Street investment banks such as Morgan, Goldman Sachs, and Bloomberg. Amber Group provides 24/7 liquidity provision, trading and asset management services.
StablehouseIt is a digital asset financial service platform that provides services such as Earn, loans, mortgage investments, cryptocurrency purchases and transactions.
KikitradeIt is a fully integrated custody, trading and investment platform, as well as a regulated platform for stable currency payment and foreign exchange transactions, and a global digital currency settlement place for real-time cross-chain payments.
FinbloxIt is an encrypted social investment platform. In March 2021, Kikitrade completed US$8 million in Series A financing, jointly led by Dragonfly Capital, Xinyuan Capital and Animoca Brands. Kikitrade has also partnered with Media Asia on a joint venture called the Kiki NFT Platform. The joint venture will focus on helping the creative industries integrate blockchain technology.
It is an encrypted savings application, and its core product is an application that allows users to passively earn income using Bitcoin, USDC, and AVAX without lock-up and deposit restrictions. In January 2023, Finblox temporarily suspended BTC/USDC, BTC/USDT, ETH/USDC, ETH/USDT, MATIC/USDT, AXS/USDT, USDT/USDC, USDT/USDD trading pairs due to low liquidity issues.
JunoIn March 2022, Finblox announced the completion of a US$3.9 million seed round of financing, with participation from Dragonfly Capital and others.
In October 2019, Juno completed a $3 million seed round of financing led by Dragonfly Capital and others.
other
Afriexother
It is an African blockchain financial technology company launched in 2019, which mainly helps users convert funds into stable coins and provides remittance services on the African continent.
ParadigmIn May 2022, Afriex completed a US$10 million Series A round of financing at a valuation of US$60 million. Sequoia Capital China and Dragonfly led the investment, and GoldenTree, Stellar Foundation and Exceptional Capital participated in the investment. The funds raised will be used in the entire African continent Scaling blockchain remittance platform.
TaxbitIt is an institutional-grade liquidity network for cryptocurrency derivatives. The main goal is to increase the liquidity of trading assets on the network by connecting buyers and sellers and enabling them to trade with each other. Contracts and instruments tradable on Paradigm are created by Paradigm-powered CeFi exchanges and settlement venues on terms determined by Paradigm. Paradigm does not settle and clear any transactions, nor does it hold custody of any assets or funds of any user.
L1 & L2
Aptosis a cryptocurrency tax automation company that provides cryptocurrency tax software for businesses and consumers.
AuroraIt is a Layer 1 public chain built by members of the original development team of Meta (formerly Facebook), using Diem's programming language Move and Diem-BFT consensus technology.
Ava LabsIt is a Bridge + EVM solution for Ethereum built on NEAR, which can help Ethereum users and Dapps to easily migrate to the NEAR blockchain.
CeloIt is an Avalanche development company, aiming to provide funding and other support for DApps on Avalanche.
CosmosIt is a Layer 1 public chain featuring a payment network.
Iron FishDescribing itself as the "Internet of Blockchains", it is an ecosystem consisting of the Cosmos SDK and the cross-chain messaging protocol IBC. In September 2022, Cosmos released a new version of the white paper, planning to allow other chains to use the Hub to protect their own networks. It also proposed changes to the utility and release schedule of ATOM. After a 36-month transition period, new Incremental ATOMs are reduced from exponential issuance to a constant amount. In March 2023, Cosmos announced the launch of SDK V 0.47 version "Twilight", which aims to improve the overall performance and functionality of all Cosmos SDK-based chains, introduce CometBFT V.037 into the Cosmos SDK to replace Tendermint Core, and support upgrades to ABCI 1.0 , which significantly improves performance.
It is a decentralized, proof-of-work (PoW), anti-censorship and publicly accessible privacy blockchain network, which aims to become a common privacy layer for all chains, and will use zk-SNARKs and Sapling protocols to On-chain transactions provide the highest level of privacy protection. The name Iron Fish comes from an encrypted communication system built by the United States based on Native American languages during World War II. The project hopes to demonstrate the magical power of cryptography. The biggest highlight of Iron Fish is that the network hopes to protect privacy without compromising the accessibility of transactions on the chain. For this reason, Iron Fish is equipped with an additional "readable key" (view key) for each address on the chain. ), the address holder can grant other people read-only permission through this key.
Mina ProtocolIn addition, the launch of the Iron Fish mainnet has been postponed to April 20th, and testnet users will receive an airdrop on April 21st. On March 29th, Iron Fish announced the token economic model, which will release 42 million tokens in the genesis block launched on the mainnet, and the total supply of tokens is capped at 256,970,400 tokens. Among the initially released 42 million tokens, testnet airdrops accounted for 2.25%; future airdrops accounted for 2.25%; Pre-Seed round investors accounted for 5.1%; Seed round investors accounted for 9.9%; A round of investment Advisors accounted for 14.5%; consultants accounted for 0.6%; core team accounted for 37.4%; IF Labs accounted for 5%; tokens for future donations accounted for 5%; Iron Fish Foundation accounted for 18%. Tokens distributed by personnel including investors, advisors and employees will be locked for 12 months and released in 12-month splits.
NEAR ProtocolIt is a new generation of blockchain that solves the problem of state expansion. With the help of zk-SNARK, Mina maintains a fixed block size of about 11 kB.
It is a PoS public chain that uses sharding technology to achieve scalability, and realizes cross-chain interoperability based on Rainbow Bridge and Layer 2 solution Aurora. Its features include optimized sharding design, Nightshade consensus and "big block "design.
Oasis LabsIn January 2022, NEAR completed a financing of US$150 million, with participation from Dragonfly and others; in April, NEAR completed a financing of US$350 million, led by Tiger Global, with participation from Dragonfly and others.
PolygonIt is the development team of the privacy public chain Oasis, aiming to solve the pain points of the blockchain in terms of performance, security and privacy. Oasis previously launched an ecological development fund with a total of 235 million US dollars, Dragonfly and other investment support, aiming to support the development of Oasis ecological DeFi, data DAO, NFT, Metaverse and other fields.
is a public chain built on Ethereum's Layer 2 scaling solution, enabling developers to build scalable DApps with low transaction fees without sacrificing security. In March 2023, Polygon launched Polygon ID, a Web3 identity service based on zero-knowledge proof technology, which can verify user credentials without revealing personal data. Currently, Polygon-based encryption and NFT projects such as Kaleido, Fractal, and Collab.Land already support Polygon ID. Polygon ID comes with a developer toolkit that can verify user data for blockchain applications while maintaining on-chain privacy, and Polygon Labs core developers have integrated it into the Polygon zkEVM.
SpacemeshIn the same month, the Beta version of the Polygon zkEVM mainnet was officially launched. Polygon said that the Beta version of the mainnet includes features such as no license, EVM equivalent, and open source. In the first phase of the mainnet Beta, a dedicated security committee will be set up to quickly upgrade the Polygon zkEVM. In the second phase, Polygon will adopt a series of measures to ensure that users can be protected in case of any problems, but more decentralized and without a security council with special access rights.
StarkWareis an open-source programmable cryptocurrency platform powered by a novel Proof of Space-Time (PoST) consensus protocol, designed to create a decentralized blockchain smart contract computer and a cryptocurrency. This is formed by connecting people's home PCs from all over the world to a single virtual computer, without massive energy waste and mining pool issues, as well as providing a provably secure and incentive-compatible smart contract execution environment.
Matter LabsIt is a STARK-based expansion solution. The two main products are the expansion engine StarkEx built on the Ethereum mainnet and the decentralized ZK-Rollup StarkNet. In January 2023, StarkWare launched the first public version of Cairo 1.0; in February, StarkWare released Cairo 1.0-Alpha.3, allowing developers to write richer applications with new language features such as the Snapshot type. On March 22, the Starknet Alpha v0.11.0 version was launched on the test network. Users can deploy and interact with the Cairo 1.0 contract on the Starknet test network. On March 28th, Starknet plans to launch Alpha v 0.11.0 on the mainnet this week, reminding users to upgrade their Starknet wallet accounts as soon as possible to avoid property losses. Important improvements in this release include a 5x reduction in computational cost.
It is the development team of zkSync, the Ethereum two-layer network based on ZK Rollup.
MonadIn November 2022, Matter Labs completed a US$200 million Series C financing, led by Blockchain Capital and Dragonfly.
is an EVM-compatible blockchain that will use low-latency programming, compiler optimization, and multi-threaded computing to build an ultra-high-performance smart contract platform. The Monad blockchain will launch on a testnet in the coming months, with plans to deploy to mainnet later this year. Monad will use a proof-of-stake consensus mechanism and will be compatible with the Ethereum Virtual Machine (EVM). In April 2022, Keone Hon, former head of research at Jump Trading, left to found Monad.
NervosIn February 2023, Monad Labs completed a $19 million seed round of financing, led by Dragonfly Capital.
It is a Layer 1 public chain with a layered architecture. The bottom layer uses the PoW mechanism to ensure security, and the upper layer application chain ensures performance. Nervos completed $28 million in financing in July 2018, led by Sequoia China and Wanxiang Blockchain. Participating investors include Matrix Partners China, Polychain Capital, Multicoin, etc.
In December 2019, Dragonfly Capital Partners announced an investment in Nervos, with an undisclosed amount.
NFT & Metaverse & Games
MetaStreetMarkets & Liquidity & Lending
is an NFT collateral liquidity and scaling solution, the main product is a capital vault that can provide secondary market liquidity for NFT-backed notes. Participants can deposit funds in order to earn yields on a diversified portfolio of NFT-backed notes.
SpicyestIn February 2022, MetaStreet received $3 million in seed round financing and $11 million in initial protocol liquidity funding, led by Dragonfly Capital. In October, MetaStreet completed a financing of US$10 million, and DragonFly Capital and others participated in the investment.
ElementIt is an NFT market maker, focusing on providing analysis and liquidity services for enterprises and retail investors.
It is an NFT aggregation trading market with functions such as cross-market buying and selling, one-click shopping cart, giant whale tracking, and full-chain data rankings. It now supports NFTs on Ethereum, BNB Chain, Polygon, and Avalanche, and will soon support Arbitrum. Additionally, Element 2.0 is coming soon,
Taker ProtocolIn May 2021, Element announced the completion of an $11.5 million funding round led by SIG and Dragonfly Capital.
It is a leasing and lending agreement for new assets (such as NFT, etc.), which aims to provide users with a quotation mechanism and provide mortgage lending and other services for holders of new assets such as NFT.
HawkuIn July 2021, Taker Protocol completed its seed round of financing, with participation from Dragonfly Capital and others.
is an NFT trading platform that aims to build a market that focuses on the specific needs of games and practical NFTs, and provides potential buyers in this market with the real-time data needed to research such NFTs.
In November 2021, Hawku completed a financing of US$4 million, with participation from Dragonfly Capital and others.
Animoca BrandsChain game
BranchIt is a venture capital and software game company that develops digital property rights to gamers through NFT and games to build an open metaverse. Animoca Brands is heavily betting on the NFT and metaverse fields. Among its many investments, there are many early investments in encrypted unicorn companies such as Sky Mavis, OpenSea, Decentraland and Sandbox, which have promoted the development of the NFT industry.
is a Web3 gaming startup. Currently, Branch has launched the island sandbox survival game Castaways, inspired by "Animal Crossing Friends Club" and "Minecraft", and the main concept is Free to Play.
EthlasIn May 2022, $12.5 million in financing will be completed, with participation from Dragonfly Capital, Polychain, Coinbase Ventures, etc.
Internet Gameis a P2E game on Polygon, headquartered in Singapore, and is building a free, play-to-earn, NFT-enabled Web3 game.
is a live-action quiz game featuring NFT-based tickets and prizes. The first season of the game was launched in March 2022. About 8,000 players minted NFTs worth $2.2 million to participate in the game, while game companies purchased over $1 million in NFTs as prizes, including BAYC, MAYC, Doodles, Azuki, and CloneX series NFTs. Players can participate in the game by staking the game NFT. Players who complete five games will receive the metaverse pass card NFT, which can access future project activities and exclusive games. The top 100 players will all get a blue-chip NFT from the prize pool . The game's second season begins on September 12, 2022.
ShrapnelIn September 2022, Internet Game completed a financing of 7 million U.S. dollars. Participating parties include ParaFi Capital, Dragonfly, Dephi Digital, etc.
It is a multiplayer first-person shooter chain game based on Avalanche, with AAA-quality gameplay and in-game NFT assets based on Avalanche. Shrapnel bundles a rich set of player creation tools that combine combat, creation, management and connection into a community where players own the platform and determine their future.
SipherIn April 2022, Shrapnel completed a $7 million financing through a token sale, with participation from Dragonfly Capital and others.
MetaverseGoIt is a multiplayer plundering design ARPG. The Sipher Odyssey Alpha version will be launched soon. Players need to create an Ather account and own a Sipher NFT character to experience it. Sipher will be released first on PC, then on iOS and Android, and is designed to support cross-play between all platforms, each of which will be seamlessly integrated on the blockchain.
is a mobile gaming platform based in the British Virgin Islands that allows users to register and start playing games such as Axie Infinity and Cyball with just a mobile phone number, and also allows setting up player wallets and granting access to games owned by gaming guilds such as YGG Permissions for digital assets.
Ancient 8 In August 2022, MetaverseGo completed a US$4.2 million seed round of financing with a valuation of US$40 million. Galaxy Interactive led the investment, and Delphi Digital, Dragonfly and others participated.
It is the largest blockchain game guild in Vietnam, aiming to develop a platform to allow their community to get the opportunity to play and build in the Metaverse while receiving monetary rewards. Ancient 8 has grown its community through investment, scholarship and education and has grown into one of the most successful gaming guilds. Currently Ancient 8's guild structure is relatively simple and flexible, with only one entity having ownership of all its assets and investments, but it is developing towards a DAO with the goal of being more decentralized.
Blast RoyaleIn January 2022, Ancient 8 completed a $4 million seed round of financing, with participation from Dragonfly Capital, Pantera Capital, and Hashed. Ancient 8 said it will use the funds to form a decentralized autonomous organization (DAO) to further build a community around the earning game.
is an NFT blockchain game designed to combine the Battle Royale game with Web3, and the last player to survive will win. Battle Royale and other game modes will take place in various locations in the Blast Royale metaverse. The Blast token is BLST, which can be used to buy and sell equipment, copy, craft, upgrade, and repair. The auxiliary token Craft Spice (CS) may introduce a pledge function. Blast Royale supports mobile (iPhone, Android) and PC (Windows, MacBook).
Lava LabsIn April 2022, Blast Royale completed a US$5 million seed round of financing, led by Animoca Brands and Mechanism Capital, and participated by Dragonfly Capital and others.
It is a blockchain game start-up company, the developer of the chain game A Far Away Realm (AFAR), which combines arcade and shooting game elements with blockchain technology. Lava Labs was established in 2019 with the advisor Trip Hawkins, founder of Electronic Arts.
In March 2022, Lava Labs completed a US$10 million Series A financing, with participation from Dragonfly and others. This round of financing will be used to develop its first game. Lava Labs is preparing to sell virtual land in the form of NFT, and will sell 10,000 pieces of land to its community.
EveryrealmMetaverse
It is an investor and developer of the metaverse ecosystem, aiming to shape the metaverse through investment, management and development of assets, including NFT, virtual real estate, metaverse platform, games and infrastructure, etc.
DeHorizonIn February 2022, Everyrealm completed a US$60 million Series A financing, led by a16z, with participation from Coinbase, Dragonfly Capital, Dapper Labs, and Foresight Ventures.
is a community-driven GameFi Metaverse platform that aims to be the next generation Metaverse gaming ecosystem, enabling players to create, socialize, and enjoy blockchain-based games with friends.
In October 2021, DeHorizon completed an $8.5 million Pre-A round of financing, co-led by Sfermion, Dragonfly Capital and Everest Ventures Group.
RevelNFT Social & Creator Economy
ShowtimeIt is an NFT social platform that allows personal photos to be made into NFTs, collected and traded. In December 2022, Revel completed a $7.8 million seed round of financing, led by Dragonfly. The round will be used to expand Revel's Web3 interoperability, AI generation and collaboration capabilities, and social capabilities.
Zartais a Polygon-based NFT social networking platform founded by crypto entrepreneur Alex Masmej that allows creators and collectors to showcase their NFTs, including but not limited to digital art, videos, and more. In February 2021, Showtime completed pre-seed financing led by Dragonfly Capital; in May, Showtime completed a $7.6 million seed round of financing, with participation from Paradigm, 3 LAU, Dragonfly and others.
is a creator platform focused on pay-per-view video content, allowing NFT creators to monetize frictionlessly. Creators can create a video, set the parameters for a free preview, and then charge viewers a small fee to unlock the entire video; users only pay for what they want to watch, no ads, no subscriptions. Zarta is currently in limited alpha testing with a small group of creators and is scheduled for release later this year.
MetatheoryIn February 2023, Zarta completed a financing of US$5.7 million, led by a16z, and participated by Dragonfly and others.
is a technology-driven entertainment company founded by Twitch co-founder Kevin Lin. Launched in the third quarter of 2021, Metatheory has developed a new virtual world, providing users with audience-oriented story development, games, and digital ownership supported by blockchain infrastructure, and is committed to becoming a leader in building Web3 games, interactive content , social platform.
OP 3 NIn May 2022, Metatheory announced the completion of a US$24 million Series A financing, led by a16z and participated by Dragonfly Capital Partners and others.
In March 2023, OP 3 N completed a $28 million Series A financing led by Animoca Brands, Dragonfly, SuperScrypt, Creative Artists Agency, New Enterprise Associates' Connect Ventures, Republic Crypto, Avalanche's Blizzard Fund, Galaxy Digital And Warner Music Interactive, GSR Markets, The Spartan Group, BRV Capital Management and NBA player Russell Westbrook, among others, participated in the investment, with a valuation of $100 million, and the new funds will be used to further develop its application and grow its leadership team.
infrastructure
Contextinfrastructure
It is an NFT wallet monitoring application that allows users to track the NFT collection of a specific wallet address, such as real-time tracking of a series of NFT holders, followed addresses, transaction activities of addresses associated with followed Twitter accounts, etc. Mint aggregator mint.fun launched in June 2022, allowing users to mint trending NFTs of multiple collectible collections in a single interface, and added a free minting filter. On March 17, 2023, Context announced that Context.app will be discontinued on April 15, and users can export their watchlist and migrate to mint.fun.
CryptoSlamIn April 2022, Context completed a financing of US$19.5 million, led by Variant Fund and OpenAI CEO Sam Altman, and participated by Dragonfly Capital.
is a multi-chain NFT data aggregator backed by Mark Cuban, Animoca Brands, Reid Hoffman, Ashton Kutcher, Polygon, and more.
HyperspaceIn January 2023, Web3 media company Forkast.News and CryptoSlam announced their merger into Forkast Labs, a media intelligence platform for the Web3 digital economy. The new company will first launch data indexes, APIs and business intelligence products to measure the digital economy based on real-time on-chain data and create a common methodology for investors to evaluate blockchain projects. Forkast.News founder Angie Lau and CryptoSlam founder Randy Wasinger will serve as co-CEOs of Forkast Labs.
It is a data analysis website based on the Solana blockchain, which aims to build an NFT transaction aggregator to help users purchase NFT in the NFT market on the mainstream Solana chain, and to enable all transaction price information to be browsed and accessed in one place. Currently, its core products include: NFT marketplace, Launchpad, Analytics, Upcoming Drops.
SZNSIn February 2022, Solanalysis completed a US$4.5 million seed round of financing and changed its name to Hyperspace. This round of financing was jointly led by Dragonfly and Pantera Capital.
CastleIt is a DAO platform that collects and manages NFT, and it is also a collective ownership agreement that allows users to collectively own and manage NFT assets. SZNS decomposes NFT collections (Collection) into ERC 20 tokens, and users can collect, fragment and share NFT. Collection also provides a plug-and-play DAO tool to collectively manage NFT Collection as a DAO. Collection's ERC 20 token holders can jointly manage NFT collections and participate in DAO management activities. The protocol is currently managed by the SZNS multi-signature and will be gradually decentralized to be managed by the SZNS protocol DAO.
It is an NFT smart wallet created based on the digital asset management platform Safe (Gnosis Safe), including multiple signatures, built-in NFT market, batch transactions, portfolio tracking and other functions. It is currently open for internal testing, and users can join the waiting list.
JPGIn June 2022, Castle completed a $1.5 million Pre-Seed round of financing, led by Dragonfly.
In January 2022, JPG completed a $3.8 million seed round of financing, with participation from Dragonfly Capital and others.
other
PartyDAOother
It is the NFT bidding platform PartyBid operation team. It originated from a tweet by Paradigm research partner Dave White. A group of people who did not know each other jointly completed the PartyBid bidding auction product and formed PartyDAO.
PleasrDAOIn June 2022, PartyDAO announced the completion of $16.4 million in financing, led by a16z. Participating investors include Standard Crypto, Compound Crypto, Dragonfly Capital, Uniswap Ventures, and Loot founder Dom Hofmann.
TRLabIt is a curatorial NFT art platform, established in May 2021, incubated by Dragonfly, and supported by the founders of Artsy, Rockbund Art Museum, and ART 021 Shanghai 21 Contemporary Art Fair. Artists include Cai Guoqiang and others.
infrastructure
ConsenSysinfrastructure
is an Ethereum infrastructure development company with a product suite including Infura, Quorum, Truffle, Codefi, MetaMask, and Diligence, serving millions of people and supporting billions of blockchain calls, enabling developers, Businesses and users can build next-generation applications, launch modern financial infrastructure, and access the decentralized web. In November 2022, ConsenSys will update its privacy policy to collect the IP addresses and ETH addresses of MetaMask users during transactions.
AndrenaIn November 2021, ConsenSys completed a $200 million Series C round of financing, with participation from Dragonfly Capital and others.
Bloxroute LabsIt is a network operating infrastructure that provides wireless Internet services while subsidizing excess bandwidth capacity through decentralized wireless (DeWi) mining.
Flashbotsis a provider of Blockchain Distribution Network or BDN for DeFi traders on Ethereum, Polygon and BNB Chain.
is a research and development organization that aims to bring transparency, democratization and sustainable distribution to Maximize Extractable Value (MEV). In September 2022, Flashbots released MEV-Boost v1.0.0, MEV-Boost is designed to be compatible with the standard Ethereum Builder API, which means it is compatible with all consensus and execution clients. In October 2022, Flashbots announced a new version called "SUAVE" at Devcon in Bogota.
GauntletIn January 2023, people familiar with the matter said Flashbots was in discussions with potential backers to raise an equity investment of $30 million to $50 million at a valuation of $1 billion. Instead of marketing to potential investors, Flashbots had potential investors convince Flashbots to accept their financial backing.
GelatoIt is a financial modeling platform that provides information for on-chain agreement management through algorithmic trading industry technology, and adjusts key parameters of the agreement based on simulations, thereby improving capital efficiency, fees, risks, and incentives.
InfStonesGelato is an Ethereum smart contract auto-execution tool. As a decentralized backend for Web3, Gelato allows developers to create automated, Enhanced smart contracts with no gas fees and off-chain perception. Gelato currently provides two main services, automation and relay.
A staking and infrastructure platform serving institutional clients, it has since grown to include a user-facing node management platform as well as an integrated API offering that allows developers to build applications on blockchain networks such as Polygon, Solana, and Chainlink.
QuantstampIn February 2022, InfStones completed $33 million in Series B financing, with investors including Susquehanna International Group (SIG), Dragonfly Capital, Qiming Venture Partners, etc.; in June, InfStones completed $66 million in financing, SoftBank Vision Fund Phase II (SoftBank Vision Fund II) Fund 2 ), GGV Capital led the round.
Blowfishis a Rollup Security Framework that will build a detailed security framework for the unique features of rollups, establish a foundation of best practices and transparency to help new developers, and enable the community to assess the security risks of a particular rollup before using it. Similar to those available for smart contract development and very advanced Rollup security overviews like L 2B eat.com. The framework will discuss end-user and developer concerns and details of Escape Hatch development and operational risk, and establish a consistent language for this and other features. Quantstamp is the winning project of the Ethereum Foundation's 2022 Layer 2 Community Giving Program.
is a Web3 firewall technology provider designed to help Web3 companies defend against cyber attacks, and in the future will allow wallet providers and custodians to provide users with real-time warnings and human-readable transaction information. Blowfish currently supports Solana, Ethereum and Polygon.
HarpieIn September 2022, Blowfish completed a financing of US$11.8 million, led by Paradigm, and participating investors included Dragonfly, Uniswap Capital, Hypersphere and Ravikant Capital. This round of financing will be used to upgrade its fraud detection engine.
A fully non-custodial on-chain firewall provider, Harpie aims to protect Ethereum wallet users, allowing them to build a "trusted network" of applications and users they want to send tokens to. Any transactions outside of this network will be identified as theft and blocked. In October 2022, Harpie will officially launch on the Ethereum mainnet. Harpie will review every pending transaction in the user's wallet, and when it finds that there is a transaction trying to steal user assets or assets, it can block it during execution. Harpie charges a flat fee of 0.01 ETH when a user successfully recovers stolen assets.
Coin MetricsIn September 2022, Harpie completed a $4.5 million seed round of financing, led by Dragonfly, with participation from Coinbase Ventures and OpenSea.
DeBankIt is an encrypted market data analysis tool that can be used both on-chain and off-chain, providing market visualization tools, data feeds, indices, price reference rates and indicators.
Dune AnalyticsIt is a DeFi portfolio tracking application. Through DeBank, users can track and manage the DeFi applications they have interacted with in one stop, view address balance and changes, asset distribution, authorization status, rewards to be received, loan positions, etc.
It is a community-based blockchain data analysis platform. Dune is the first to open independent queries to users. It has the largest analyst group and user community. Analysts who have mastered the ability to write PostgreSQL can freely use the data on the chain to write custom queries and analyze and visualization. At this stage, Dune already supports data query of Ethereum, Polygon, BNB Chain, Solana, Optimism and Gnosis Chain.
DoraIn February 2022, Dune Analytics completed a US$69.42 million Series B financing at a valuation of US$1 billion, led by Coatue and participated by Dragonfly Capital and others.
GoldskyA cross-chain block explorer is being built to easily visualize and analyze across multiple cross-chain bridges and blockchains.
It is an API developer specially established for real-time reading of blockchain data. It will be officially launched in October 2022 and some functions will be released to support users to access real-time blockchain data, and allow users to transform, enhance and integrate these data to meet custom needs. Goldsky opens the subgraph index for all teams, users can read data, use the backward compatible subgraph API to access, and allow add-ons to access data through advanced GraphQL or Webhook, other add-ons such as Timescale and Elasticsearch integration are available upon request supply.
KaitoIn September 2022, Goldsky completed a $20 million seed round of financing, led by Felicis and Dragonfly, with participation from Uniswap Labs, 0x Labs, Compound founder and CEO Robert Leshner, and Magic Eden co-founder Zhuoxun Yin.
is an artificial intelligence-based crypto search engine, and its MetaSearch aims to enable users to search the entire crypto space through platforms such as Twitter, Discord, Governance Forum, Mirror, Medium, etc., through a one-click product. In addition to aggregating information, Kaito also utilizes AI to optimize its search engine through ranking, topic mining, personalization, recommendation, speech-to-text transcription, and AI-generated content, and also integrates ChatGPT/GPT-3. Kaito will also launch a token-based community that will leverage a similar model to Wikipedia, where users can contribute to the platform through a tiered system.
HedgehogIn February 2023, Kaito completed a $5.3 million seed round of financing, led by Dragonfly. Kaito founder and CEO Yu Hu said that the next round (funding) is currently in discussion with OpenAI, Binance and Dragonfly.
LiquiFiIs a cryptocurrency aggregator and portfolio manager, connecting hundreds of wallets and exchanges, users can manage the entire portfolio on the platform, and automatic rebalancing will be launched soon.
It is a cryptocurrency management application that can help project parties realize the visualization of token management. It has been launched on Ethereum and Polygon. Robin Ji, CEO and co-founder of LiquiFi, said that the application will continue to expand to EVM-compatible chains, and later to non-EVM-compatible chains such as Solana and Terra.
SpindlIn April 2022, LiquiFi completed a $5 million financing led by Dragonfly Capital Partners.
is an on-chain tracking monitoring tool that analyzes Discord posts, Reddit forums, advertisements, and other Internet links, pairing this data with on-chain behavior such as buying, selling, and trading to create profiles that help Web3 products understand the source of traffic.
UmaIn October 2022, Spindl completed $7 million in financing, led by Dragonfly and Chapter One.
Alliance DAOIt is a decentralized optimistic oracle and dispute arbitration system that allows any type of data to be uploaded to the chain. Oracles provide data for projects such as cross-chain bridges, insurance agreements, custom derivatives, and prediction markets, and can also be used to create other types of products and agreements.
CommonwealthIt is a Web3 digital startup country in the form of a decentralized autonomous organization, created by the Web3 startup accelerator DeFi Alliance to accelerate Web3 startups. Among other things, Alliance DAO proposes to gradually offer governance, recruiting, liquidity, marketing, consulting and other potential startup support services. At the same time, Alliance DAO also stated that in the future, a larger digital country may be realized from a digital startup country.
It is an integrated on-chain community management platform for discussing, voting, and funding projects. It combines core functions such as Discourse, Snapshot, on-chain voting, and network analysis through encrypted native products. Additionally, Common plans to launch its own token, CMN.
TwaLiIn 2021, Common completed a $3.2 million round of financing led by Dragonfly Capital and ParaFi Capital.
Bribeis a decentralized professional service platform designed to provide DAO consulting services.
