Financing Express of the Week | 18 projects received investment, with a total disclosed financing amount of approximatel
According to incomplete statistics from Odaily Planet Daily, there were 18 blockchain financing events announced at home and abroad from September 16 to September 22, which was a decrease from last weeks data (23). The total amount of financing disclosed was approximately US$128 million, which was a decrease from last weeks data (US$220 million).
Last week, the project that received the most investment was the DeFi platform Drift ($25 million); followed closely by the Solana developer platform Helius ($21.75 million).
The following are specific financing events (Note: 1. Sort by the amount of money announced; 2. Excludes fund raising and MA events; 3. * indicates a traditional company whose business involves blockchain):
On September 19, Solana Ecosystem DeFi platform Drift announced the completion of a $25 million Series B financing round, led by Multicoin Capital, with participation from Blockchain Capital, Primitive Ventures, Folius Ventures, and others. The new financing brings Drifts total financing to $52.5 million. The company plans to double its headcount from 25 to 50 next year.
On September 19, Solana developer platform Helius announced the completion of a $21.75 million financing round, with participation from Haun Ventures, Founders Fund, Foundation Capital, 6th Man Ventures, Chapter One and Spearhead.
Hemi Labs Completes $15 Million Financing, Led by Breyer Capital and Binance Labs
On September 18, modular blockchain development company Hemi Labs announced the completion of a $15 million financing round, led by Binance Labs, Breyer Capital and Big Brain Holdings, with participation from Crypto.com, Web3 Ventures, HyperChain Capital, Alchemy, SALT Fund, Kelly Investments, Sunflower Capital, DNA Fund, Gate Ventures, Quantstamp, TRGC, BTC INC, Artichoke Capital, Cypher Capital, SNZ Holding, C 6 E, IBG Capital, Protein Capital, MON Ventures, SV 5, Impossible Finance, Jihan Wu, George Burke and Sonny Singh. It is reported that it plans to launch the mainnet in the fourth quarter.
On September 17, the decentralized clearing network Yellow Network completed a $10 million seed round of financing. This round of financing was led by Ripple co-founder Chris Larsen, and participated by Consensys, GSR, NxGen, MV Global, Gate Labs, ZBS Capital, Moonrock Capital, Math, Cobo, NOIA Capital and LD Capital.
On September 16, Permissionless Labs, the development company behind the content delivery network Pipe Network, completed a $10 million financing round led by Multicoin. The project aims to help people quickly expand CDN nodes where they are most needed by borrowing existing computing power. It is reported that the project will rely on the Solana blockchain.
On September 18, two former senior employees of Coinbase are co-founding a cryptocurrency trading platform called TrueX, which has completed $9 million in financing, with RRE Ventures and Hack VC participating.
It is reported that TrueX uses PayPals stablecoin PYUSD as its preferred trading token. PYUSD issuer Paxos will provide third-party custody services for TrueX users. TrueX will first be open to US institutions and some international institutions in certain regions.
UAE blockchain and AI company Capstone Technology raises $5.45 million to develop its GAYA project
On September 18, Capstone Technology, a UAE blockchain and artificial intelligence company, completed a $5.45 million financing to promote the development of its GAYA blockchain project, which aims to create a network for entrepreneurs in the gaming, AI and entertainment sectors.
Capstone Technology plans to use the funds to manage technology assets, develop Web3 applications, expand regional influence, and improve its platform.
Fermah completes $5.2 million seed round of financing, led by Lemniscap and others
On September 17, Fermah, a developer of the universal proof generation layer, completed a $5.2 million seed round of financing, led by a16zs CSX and Lemniscap, with participation from Bankless Ventures, Longhash Ventures, P-OPS team, Public Works, ZK Validator, Lambda Class, Daedalus, Zero DAO, Velocity Capital, Daemon Ventures, and angel investors including Balaji Srinivasan and Sandeep Nailwal.
Web3 startup Vana completes $5 million strategic round of financing, led by Coinbase Ventures
On September 18, Vana, a Web3 startup dedicated to building a user-owned data pool network, announced on Wednesday that it had completed a $5 million strategic round of financing, led by Coinbase Ventures, bringing its total financing to $25 million. Vana had previously received investment from Paradigm, which led the companys $18 million Series A financing.
The startup has set out to build a DAO network that will use its blockchain technology to address the lack of training data for artificial intelligence models while providing a way for internet users to earn income.
On September 17, the on-chain perpetual DEX LogX announced the completion of a $4 million strategic round of financing, bringing its total financing amount to $10.1 million. Hashed Emergent, Cumberland VC, Saison Capital, Gate Labs, DWF Labs, Antler, Coinswitch Ventures, Wagmi Ventures, Kairos Capital and others participated in the investment.
LogX will use the new funding to develop into a DeFi super application, providing leveraged prediction markets and exotic perps, while expanding to TON, Solana, Bitcoin, Move, and EVM ecosystems.
On September 20, according to official news, the general FHE protocol octra announced the completion of a $4 million Pre-Seed round of financing, led by Finality Capital, with participation from Big Brain Holdings, Karatage, Presto, Builder Capital, etc. In addition, octra announced that it has released a public WASM sandbox to demonstrate the efficiency of hypergraph in FHE. The architecture of octra is based on circles, which is an independent execution environment.
Layer 2 protocol RISE Chain completes $3.2 million seed round of financing, led by Finality Capital
On September 16, Layer 2 protocol RISE Chain completed a $3.2 million seed round of financing, led by Finality Capital, with participation from Orange DAO, DACM, ether.fi Ventures, P 2 Ventures, MH Ventures, Public Works, Vitalik Buterin, Stani Kulechov, Anthony Sassano (also known as sassal.eth), DCF God and others.
Limitless Network Completes $3 Million Pre-Seed Round of Financing, Led by 1coinfirmation
On September 17, Limitless Network, a prediction market platform built on Base, completed a $3 million Pre-Seed round of financing, led by 1confirmation. CJ Hetherington, co-founder and CEO of Limitless Labs, said that Paper Ventures, Collider and Public Works participated in the investment.
On September 18, MagicBlock, the Solana-based Ephemeral Rollups scaling solution, announced the completion of a $3 million Pre-Seed round of financing from a16z CSX.
It is reported that MagicBlock is a project selected for the spring semester of the a16z CSX accelerator program, aiming to develop a high-performance engine for full-chain games and applications on Solana.
On September 19, Bool Network, a decentralized verification infrastructure for the Bitcoin ecosystem, announced on X that it had completed a $2 million seed round of financing, with participation from Antalpha Ventures, ViaBTC Capital, Spark Digital Capital, Cogitent Ventures, Web3Port, Satoshi Lab, D 11 Labs, and Sharding Capital.
Amnis Finance completes $2 million financing, led by OKX Ventures and others
On September 18, Amnis Finance, the liquidity staking protocol on the Aptos chain, completed its first round of financing of US$2 million. Borderless Capital and OKX Ventures jointly led the investment, and Aptos Labs, Arkgrow Pte Ltd, Ambush Capital, Gate Ventures, Sky Vision Capital, Old Fashion Research, Chorus One Venture, Re 7 and Flowdesk participated in the investment. The new funds will enable Amnis Finance to accelerate the integration of its innovative liquidity staking solutions in Aptos DeFi ecosystem.
On September 18, Ambrus Studio, the developer of the MOBA game E 4 C: Final Salvation, announced that it had completed a multi-million dollar financing round, with the specific amount not disclosed. The financing was led by The Spartan Group, with participation from IVC, Sui Foundation, Knight Capital, Goodwater Capital and ZeePrime Capital.
On September 16, the second-layer blockchain protocol T 1 Protocol announced the completion of its Pre-Seed round of financing. A16z Crypto, BreedVC, Benedikt B眉nz, Sam Kazemian, Amir Bandeali, Eric Chan, Kartik Talwar, Kubi Mensah and Meltem Demirors participated in the investment. The specific amount has not been disclosed. It is reported that the protocol will also participate in the a16z Crypto Startup Accelerator (CSX).
This article is sourced from the internet: Financing Express of the Week | 18 projects received investment, with a total disclosed financing amount of approximately US$128 million (9.16-9.22)
Related: Grayscale: From miners to stakers, the evolution of Ethereum security
Original author: Zach Pandl, Michael Zhao Original translation: Luffy, Foresight News A major feature of public blockchains is that they do not rely on any centralized authority to operate. To achieve this, blockchains use a set of algorithms and economic incentives, which we call a consensus mechanism. The Bitcoin network is secured by miners through the Proof of Work (PoW) consensus mechanism, while Ethereum is secured by stakers through the Proof of Stake (PoS) consensus mechanism. Unlike PoW, where miners secure the network through computing power, PoS requires stakers to stake tokens to demonstrate their determination to “get involved.” Stakers are rewarded for maintaining the blockchain. Therefore, token holders who stake their assets and verify transactions can earn income. However, staking rewards are usually insignificant compared to token price fluctuations.…
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