Offchain Labs, the developer of Arbitrum, has launched a network called Arbitrum One. They raised $120 million in Series B with the participation of Polychain Capital, Rabbit Capital, Pantera Capital, Alameda Research and others.
The current yield generating model of the project consists of transaction fees sent to Arbitrum and not intended for tokenization. However, the ultimate goal is a decentralized system in which the community makes all decisions.
The plan is a systemic, gradual decentralization.Another project, Optimism, uses similar technology, but the key difference is their anti-fraud systems.
Arbitrum allows users to divide smart contracts into pieces and prove fraudulent actions at the entry-level, while Optimism limits the size of smart contracts, and they can be reused.
Parallel Finance Landing Protocol raised $22 million in a Series A funding round.
Polychain Capital led the round with participation from Lightspeed Venture Partners, Slow Ventures, Blockchain Capital and Alameda Research.
Parallel expects to bolster growth as a DeFi alternative to Ethereum. Polkadot, a competing ecosystem that connects to multiple blockchains, has yet to have a robust protocol platform.
The protocol includes a suite of automated marketing, staking and financial derivatives services for Polkadot and Kusama. The project founder said Parallel had 3,000 users five months after launch.
One of the main reasons for attracting Polychain, which leads the round, is the fact that they are some of the largest DOT and KSM holders.Instead of traditional payments, Polychain and its venture capital partners received Parallel management tokens.
The CEO of the project clarified that the $150 million valuation counts only for the Polkadot network.
Well-known a16z was a lead investor. More than 150 investors took part in the round, including Coinbase Ventures, Snoop Dogg and Ashton Kutcher.
Syndicate develops protocols, tools, user interface, etc. as well as the social layer used by some DAOs: KomorebiFund, audacity_fund, CityDao, FiatLuxDAO.DAOs and tokens allow for customization of seemingly odd incentive design and coordination.
It will enable online communities from anywhere in the world to raise capital and provide code management and distribution.
DeFi protocol Trader Joe on Avalanche raised $5 million.
The project is anonymous.
The team's goal was to develop the platform at short notice.Tokensale participants: DeFiance Capital, Three Arrows Capital, Delphi Digital, GBV Capital, Mechanism Capital and others.
Venture capital is actively investing in Avalanche - this will make active investors pay attention to projects on this blockchain.In general, we can see that there are many funds and investors who "sympathize" with a particular blockchain; for example, Multicoin and Alameda are actively investing in projects on Solana.
Parcel, which develops treasury management protocols for DAO, raised $ 2.5 million. The round was led by Dragonfly Capital, with contributions from Scalar Capital, A Capital, Compound, Consensys and others.
There was also an equity contribution. The project enables DAO and open-source platforms to use Parcel for payment automation and financial management.
Currently, DAOs such as Synthetix, Compound, Aave and FWB use Parcel. I will highlight a few use cases and functions: payroll, grant withdrawal, and for example, tools that help you complete an airdrop. Parcel also decentralizes its network. They plan to launch their own DAO and tokens.
Investment community UniWhales raised $2.2 million for DAO transition.
Participants: Signum Capital, HyperChain Capital, Faculty Capital, Impossible Finance and Double Peak Capital, and the participation of business angels: PopcornKirby, Kris Cheng, Polygon's Sandeep Nailwal.
nitially, they planned a project to be a Telegram channel for notifying about large transactions on Uniswap. It became popular, and they decided to launch a closed service for using tokens that evolved into the DeFi investor community.
To become a member now, you need to have 5000 UniWhales tokens, which costs around $3700.
Venture capital firm Three Arrows Capital has announced the launch of its Starry Night Capital NFT fund.
"In addition to investing in art and collectibles, we plan to launch an 'NFT Education Portal' to promote new artists and open the NFT Gallery space by the end of the year."
It was officially announced that previously Three Arrows Capital was buying hype NFTs like CryptoPunks.
In addition, shortly after the launch of Starry Night, Nansen revealed that addresses associated with Alameda Research had acquired three Art Blocks Curated NFTs: Ringer, Fidenza and Subscape, for a total of 614 ETH (about $ 2 million).