Crypto Daily Digest - November 18th

TI Research

Structured product options protocol Ribbon renew its tokenomic on Today! Meanwhile, ConstitutionDAO has raised more than $40m! Yearn Finance delegated 23m veCRV to Convex Finance. SIDUS HEROS | Faraway | Nym | BetDEX

DeFi

ConstitutionDAO Has Successfully Raised Over $44m

ConstitutionDAO, a DAO planning to buy the U.S. Constitution at Sotheby's, which TokenInsight reported on Nov 16th, has now raised over $44 million. a16z founder Chris Dixon has also made a personal donation. According to the DAO, ConstitutionDAO is taking donations and donors are receiving governance tokens with no expectation of profit. Governance includes the ability to advise on (for illustrative purposes) where the Constitution should be displayed, how it should be exhibited, and the mission and values of ConstitutionDAO. Source

Yearn Has Delegated 23 Million veCRV to Convex Finance

Yearn has delegated 23 million veCRV to Convex Finance in order to integrate their voting power in Curve's governance. As a result, both of them can increase the yields of their factory pools. Source

Ribbon Unveils A New Plan for RBN Tokenomics

Ribbon Finance announced its latest token economic model. According to the plan, users can use their own $RBN as collateral to get the $sRBN to obtain more on-chain governance rights and voting rights, as well as benefits such as $RBN reward boosting. In exchange, in the event of a black swan event or smart contract exploits, the users who stake $RBN will act as the insurer to pay a portion of the loss for the depositors. The new $sRBN token will be released in Q4 2021, while permission-free vaults and liquidity mining activities for stakers will be launched in the next few months. Source

IDO

SIDUS HEROES IDO on SpaceSwap Starter on 15th December

SIDUS HEROES is a video game that implements a play-to-earn model. The game is based on a universe containing 12 tech-based races that represent different blockchains. Users can collect equipment and creatures or battle with other players in it. SIDUS and SENATE are the currency of the game. Users can utilize these tokens to buy or sell NFT content in the game, and users can also receive rewards by holding them. The IDO of SIDUS and SENATE will be held by SpaceSwap Starter on 15th December. The information of sales token amount and price is displayed below.

  • SIDUS: 30,555,555 coins at $0.0018
  • SENATE: 305,555 coins at $0.18

Besides, the projects will conduct IGO on Bloktopia at the beginning of December. Source

NFT/GameFi

Faraway x Magic Eden

Solana ecosystem game developer Faraway has partnered with NFT trading marketplace Magic Eden to release 2,500 of Faraway's 10,000 Genesis Series NFTs for its first-person battle royale game MiniRoyale on Dec. 6. The remaining 7,500 will be released on MiniRoyale's official website on December 9. Source

Fundings

Nym Closed $13M Series A Round Led by a16z

Nym has closed $13M Series A round with a valuation of $270 million. The Series A financing round was led by a16z. Other investors include Digital Currency Group, Tayssir Capital, Huobi Ventures, HashKey Capital, Fenbushi Capital, and more than two dozen operators of validator nodes, or servers responsible for verifying transactions on the startup’s network. Nym was founded in 2018 to build a global privacy infrastructure. Nym finished a $2.5 million seed investment in 2019, and a Polychain Capital-led $6.5 million raise, which closed this July. Source

Mem Protocol Closed $3.1 Million in Funding Led by a16z

Mem Protocol, a decentralized social media protocol, has closed a $3.1 million funding round led by a16z with participation from former Coinbase CTO Balaji Srinivasan, Polychain's Olaf Carlson-Wee and others. Founded in May 2021, Mem is building a decentralized social media protocol centered on data sovereignty that aims to enable everyone to have their own circle of friends, explore the blockchain world, and earn income by sharing knowledge. mem protocol currently builds a profile browser where new users adding verifiable on-chain identities can ask questions with reputation and smart contracts, post rewards to raise funds, and more. Source

ConsenSys Closed $200 Million Funding Round with Coinbase Ventures and Dragonfly Capital

Blockchain technology company ConsenSys has closed a $200 million funding round with participation from Coinbase Ventures, Dragonfly Capital, Animoca Brands, ParaFi Capital and others. The funding round brings its valuation to $3.2 billion. ConsenSys aims to unlock the collaborative power of the community by making Web3 universally easy to use, access, and build on. Source

BetDex Closed $21 Million Seed Round Led by Paradigm and FTX

BetDex, a Solana-based sports betting protocol, has closed a $21 million seed round led by Paradigm and FTX, with participation from Lightspeed Venture Partners, Sino Global Capital and Solana Ventures. The funding round is reportedly the largest seed round ever raised by a UK startup. BetDex combines blockchain technology with sports betting and aims to create a global decentralized betting platform. Source

Others

Oasis Introduces a $160 Million Ecosystem Fund

Oasis introduces a $160 million Oasis Ecosystem Fund. The Oasis Ecosystem Fund is dedicated to helping founders and projects build on the Oasis Network and Ecosystem. The fund will be launched in collaboration with AME Cloud Ventures, Dragonfly Capital, Draper Dragon, Electric Capital, FBG, Jump Capital, Kenetic Capital, NGC Ventures, Oasis Foundation and Pantera Capital. Source

Readings

  • How to use Dune Analytics like a degen: Source
  • Let's Buy the US Constitution: Source

DeFi

Derivatives

Options

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