A quick look at 5 new DeFi projects that have received financing recently
Original compilation: Luffy, Foresight News
Original compilation: Luffy, Foresight News
Stop watching Memecoin and see what's new in the DeFi space. I have discovered some new trends in DeFi by tracking the flow of VC funds. The following are 5 innovative DeFi projects that have just raised funds.
Overview of Crypto Market Funding in April
There were 130 funding deals in the crypto market in April, with a total value of $1.34 billion. The amount is much lower than in March, when just four projects (Stripe, Ledger, Matter Labs, and eToro) raised $8.2 billion. Overall, there has been no major trend change in the capital market.
For DeFi, the dollar amount raised is on the rise.
Last month, 23 DeFi projects successfully raised funds, totaling $249 million, 2.5 times that of March. Surprisingly, the DeFi space is now more gold-absorbing than NFT and CeFi.
I have been following the seed round investments of well-known venture capital companies, and most of the invested projects have not yet issued tokens. I believe these early-stage projects that get funded during a bear market have a good chance of thriving in a bull market.
5 Innovative DeFi Projects Funded in April
Catalyst
CatalystIt is a cross-chain liquidity layer, which aims to connect the liquidity of any chain with the liquidity of other chains, and promote seamless value transfer.
Catalyst supports the trading of native assets (rather than wrapped tokens) and provides permissionless cross-chain liquidity pools, which is very suitable for modular and multi-chain narratives.
The Catalyst team raised $4.2 million from Robot Ventures, Circle, Hashkey, Spartan, and others.
Swaap
Swaap Financeis a next-generation AMM designed to address impermanent loss (IL) and reduce transaction costs through dynamic slippage and price oracles.
Swaap v1 was launched in July last year, and the impermanent loss of its WBTC/WETH/USDC pool remained below 1%. They will also airdrop Swaap tokens to LPs.
The v2 version has also been released, introducing a more advanced market-making model, more types of tokens, and supporting users to choose between high-yield and low-risk strategies.
Catalyst and Swaap currently have waitlists.
The Swaap team raised $4.5 million from multiple venture capital firms and angel investors.
FARE Protocol
FARE ProtocolTemporarily in "incognito mode", their Twitter account was created 9 months ago, and their Discord is dead silent.
However, they just raised $6.5 million from top investors like Republic, Arrington Capital, Quantstamp, and more.
FARE uses probabilistic smart contracts to provide a new way to play dynamic tokens. Its "win and lose" system is similar to a casino, burning/minting FARE tokens based on transparent on-chain probabilistic events. However, all FARE collected will be redistributed instead of going to the bookmaker.
Pear Protocol
Pear ProtocolIs a platform that simplifies pair trading of cryptocurrencies, allowing users to simultaneously long one token and short another token in one trade. Its application has not yet been launched.
Users use USDC as collateral, select long/short leverage pairs, and execute positions in a single transaction, after which they receive ERC-721 tokens as proof of position.
The Pear team raised $1.25 million from Flow Ventures, Portico and JY Capital.
Playbux.co
PlaybuxIt is very different from the items listed earlier. It just raised $2 million from Binance, Gate, Tron, Certik, and others, and is already the 12th most active crypto dApp by wallet.
Playbux is a two-layer protocol:
First, it is a metaverse platform where users can buy and spend BRK to play claw machines. You can win rare NFTs and trade them on the NFT Marketplace.
Secondly, it is a shopping cashback platform where you can use BUSD to shop online and get 5% cashback.
The platform currently supports more than 20,000 merchants including AliExpress and Alibaba.
You can use the BUSD you earn in the game, or cash it out. Most of Playbux's users are from Asia.
There are more fresh DeFi applications, but most DeFi are complex and target a small group of crypto users. dApps like Playbux bring in new users looking for tangible benefits. They are sensitive to gas fees and do not care which chain is used.
