Crypto Daily Digest - November 5th

TI Research

Aave, the Ethereum head TVL lending project, announces V3 release, new version will support multi-chain ecosystem; AlphaX plans to deploy to Avalanche; Enjin sets up $100 million fund to build Metaverse ecosystem. fei | Tempus | MarsX | Ribbon Finance

Fundings

Faraway Closed $21 Million Series A Funding Round Led by FTX and Lightspeed Venture Partners

Game studio Faraway has closed a $21 million Series A round led by FTX and Lightspeed Venture Partners, with participation from a16z, Sequoia Capital, Pantera Capital, Jump Capital and Solana. Faraway is a new gaming studio leveraging blockchain technology to unlock the potential for truly player-driven and decentralized game economies and is set to launch its browser-based flagship title Mini Royale: Nations as the first live multiplayer game on Solana, one of the fastest growing blockchain ecosystems.Faraway closed over $8 million in seed funding earlier this year led by Lightspeed Venture Partners with participation from a16z, Sequoia Capital, PanteraCapital, JumpCapital, and Solana. Source

Cosmos Eco-privacy Layer-1 Network Penumbra Labs Closed a $4.75 Million Seed Round Led by Dragonfly Capital

Cosmos eco-privacy layer-1 network Penumbra Labs closed a $4.75 million seed round led by Dragonfly Capital with participation from Interchain Foundation, Lemniscap, Figment and others. Penumbra network enables users to trade, pledge, exchange tokens, and make markets without revealing personal information, account activity, or trading strategies. Source

Tempus Raised $4 Million Strategic Fund Round

Tempus closed a $4 million strategic funding round with participation from Distributed Global, Jump Capital, Koji Capital. Existing investors also participated in this round. Tempus plans to launch on the Ethereum miannet towards to the end of November. Source

Mythical Games raised $150 million in Series C

Mythical Games has raised $150 million at a $1.25 billion valuation to launch its Blankos Block Party open-world multiplayer game. The marquee investment firm a16z led the round, bringing the total funding to date $270 million. Other investors in the round include D1 Capital, RedBird Capital, Com2Us, and The Raine Group, Binance Labs and FTX. Mythical Games also received support from notable entertainment brands and personalities. Source

DeFi

Fei Protocol to Acquire 100m LUSD

The Fei Protocol community proposed to acquire 100m LUSD from a Balancer auction. Source

Aave V3 Is on the Way

Aave posted an introduction to its V3 version. There are some main features of it:

  • The ptotocol will enable users to move assets between Aave V3 markets over different networks
  • Improve users' borrowing power
  • For new-listed assets the debt ceiling is required
  • L2-Specific Features
  • Enhance risk management and community contribution Source

Ribbon Finance Delayed This Week's Option Sale

Ribbon Finance, the structured finance protocol on Ethereum, tweeted that due to a delay in the Opyn (the Option protocol on Ethereum) oracle posting the expiry price, this week’s options sales will be delayed. The expiry on last week’s option contracts are unaffected, and all options that Ribbon Vaults sold have safely expired out of the money. They will be closing the contracts and rollover the funds into the new contracts on Monday, 10AM UTC. Source

AlphaX Is Coming to Avalanche

AlphaX plans to deploy its mainnet on Avalanche. AlphaX is a derivatives protocol designed by Alpha Finance Labs. It combines the pros of perpetual swaps and leverage tokens concepts allowing users to easily trade derivatives on-chain in a capital efficient way. Source

MarsX, A DEX Built Powered by Injective Is Launched

MarsX is a decentralized exchange to access the derivative market with zero gas fees. It is built on top of Injective. According to the data provided by MarsX website, 24h trading volume is $8533 for spot, and $240k for derivatives. Source

NFT/GAMING

Enjin's $100m Efinity Metaverse Fund

Efinity Metaverse Fund aims to support Enjin and Efinity adopters, including: Integration of Eijin and Efinity, Metaverse, Gaming, NFT DApps & Projects, Cross-Chain Infrasturcture, and Pioneering Projects. It is said Enjin team will consider equity investments in seed / Series A fundraising rounds and purchases of new projects native tokens for potential use in the ecosystem. Source

Liquidity Farm on Katana

Katana DEX on Ethereum sidechain Ronin has announced the launch of the liquidity mining reward plan for adding liquidity to the AXS/ETH and SLP/ETH liquidity pools. Liquidity provider will earn Ronin native token $RON. 10% of the $RON total supply will be distributed to liquidity providers within 90 days. Source

Readings

  • A Guide to Decentralized Stablecoins. Source
  • DAOs: Absorbing the Internet. Source

Aave

DeFi

NFT

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