💼Polygon (MATIC) $450M Raise - TWJ #79
The smart contract race continues.
In today’s issue:
The crypto market is slightly up with the global market cap sitting at ~$1.9-2 trillion. GALA and JUNO led the top 100 assets weekly performance. Global markets see more selloff in global sovereign bonds, with the yield on the US 10-year reaching 1.95%.
In other news, Aave launches web 3 social media platform, Polygon raised $450M, and crypto investments in 2021 exceeded the previous 3 years combined.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Aave Launches Web 3 Social Media Platform
DeFi juggernaut Aave has launched a decentralized social media platform called Lens. The new protocol allows developers to create a non-custodial social media profile as well as build new decentralized social media applications.
⎆Polygon Raised $450m From Sequoia, Tiger, and Others
Smart contract platforms continue to attract enormous funding from prominent investors, including “traditional” web 2.0 firms. In the latest news, Polygon (MATIC) raised $450M from Sequoia, Tiger Global, and others. Polygon is a scaling solution for Ethereum, competing with the likes of Arbitrum, Loopring, Optimism, and StarkWare.
⎆Crypto Investments in 2021 Exceeded the Previous 3 Years Combined
In its biannual report, KPMG stated that investment in crypto and blockchain reached $30 billion in 2021. This figure is larger than the previous 3 years combined; which was $8.2 billion in 2018, $5.6 billion in 2019, and $5.5 billion in 2020. The total number of fundraising deals reached more than 1300 in 2021.
👨🏻💻Decentralized Finance (DeFi)
Proposal Imminent to Transform SushiSwap Into On-Chain DAO
Anchor Asks Terra for $450M to Shore Up Dwindling Reserves
DeFi Project Aave Launches Decentralized Social Media Platform on Polygon
Hundred Finance was Affected by Meter Hack
Latest DeFi Bridge Exploit Results in $4.4M Losses for Meter
Hashstack Launches Open Protocol Testnet
Former Manchester United Players to Launch Soccer-centric DAO
🏛Governance - Active Proposals
Compound - TrueUSD Market Upgrades
Fei - FIP-76b: Add LUSD to FeiRari
Gitcoin - DAO Operations Workstream Budget - Q1 2022
🦮NFT & Metaverse
LooksRare Hits $307M in Protocol Revenue in 30 Days and Leapfrogs OpenSea
Scramble for Spots on Lucrative NFT Whitelists Sparks Grind-to-Earn Trend
College Football's NFL Hopefuls Get Their Own NFTs at Senior Bowl
Bud Light Super Bowl Ad Includes Nouns Ethereum NFT Imagery
HitPiece Receives Demand Letter from Recording Industry Association
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Polygon - $450M Unknown Round
Block Survey - $500K Pre-seed
SO-COL - $1.75M Seed Round
Colexion - $5M Seed Round
Aleo - $200M Series B
⚖️Regulatory Update
EU Weighs Potential Metaverse Regulation
New FDIC Acting Chair: Evaluation of Crypto Risks Is a Top Priority for 2022
Kazakhstan Floats 500% Tax Increase on Bitcoin Miners
US Crypto Lobbying Expenditure Doubles in 2021
NY Fed: Stablecoins Are Not the Future of Payments
📚Noteworthy Reads
Roshun Patel’s Read on On Risk Taking
Brada Cra’s Thread on Crabada
JO7.eth’s Thread on The Web3 Curation Landscape
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.