Hello everyone, the SixthDaoVC investment research column that has been delayed for more than half a year is back. In the first two issues, we summarized and partially participated in some projects.
The latest progress of the second phase project:
1. EigenLayer has become the leading giant project in the re-staking ecosystem
2. Superfluid raised US$5.1 million in its new round of financing, with participation from super VCs such as Fabric Ventures and Multicoin Capital.
3. LayerZero will be launched in Q2 soon
4. Formless completed US$2.2 million in financing, with a16z Crypto participating in the investment
5. Gameta completed US$5 million in financing, with Binance Labs participating in the investment
The first phase of investment research:
Needless to say, Celestia, Sei, the first BN, and Berachain have now become hot star projects.
After reviewing the first two issues, we will start to explain the third issue of the project.
The third phase of projects: Babylon, ionet, lavanetwork, unisat, dibabitmask bitsmiley, monad, metropolis.
Babylon
Introduction: Bitcoin Staking Protocol, Bitcoin Timestamp Protocol and Bitcoin Data Availability Protocol.
Official website: https://babylonchain.io/
Total funding: $26 million
Participating investment institutions: Binance Labs, Polychain, Hack VC, IOSG Ventures, Framework Ventures, Breyer Capital, Polygon Ventures, OKX Ventures, ABCDE Capital, IDG Capital, etc.
Project progress: A Bitcoin staking pioneer test event was launched some time ago. There were 101,157 qualified users who submitted Polygon addresses on the BTC staking test network. This event made a group of people rich, and some people made hundreds of thousands of dollars. At the same time, Babylon will Join informalinc to bring the Bitcoin staking protocol to Cosmos, transforming the Cosmos Hub into a multi-asset secure aggregator powered by ATOM, BTC and ecosystem tokens.
Reasons to follow SixthDaoVC: As one of the most watched projects in the Bitcoin ecosystem, babylon is more like an institutional project and at the same time has community support. Its founder is a Stanford professor, which has enabled the project to receive investment from many well-known VCs. Coupled with the participation of BN, BN can be launched after the mainnet is launched in the second quarter.
Io.net
Introduction: io.net is a decentralized computing network that enables the development, execution and scaling of ML applications on the Solana blockchain, combining 1 million GPUs to form the worlds largest GPU cluster and DePIN.io. net solves this problem by aggregating GPUs from underutilized resources such as independent data centers, crypto miners, and crypto projects such as Filecoin and Render, combined in the Decentralized Physical Infrastructure Network (DePIN), allowing engineers to Get massive computing power in a system that is accessible, customizable, cost-effective, and easy to implement. The most popular AI+Depin projects currently
Official website: https://io.net/
Financing: US$30 million, valuation of US$1 billion
It is reported that the KOL round valuation is US$500 million.
Participating investors: Hack VC led, SevenX Ventures, Multicoin Capital, 6th Man Ventures, M 13, Delphi Digital, Solana Labs, Aptos Labs, Foresight Ventures, Longhash, ArkStream Capital, Animoca Brands, Continue Capital, MH Ventures and OKX wait
Project Progress: Since the launch of the Ignition program, the number of GPU miners has increased from 26,000 to more than 51,000 within 10 days. The token is expected to launch on April 28.
Reasons to follow SixthDaoVC: io.net is currently very popular in the primary market. The track positioning of this project can last for a long time. AI is the mainstream narrative and the participation of the depin model is a very classic institutional project to promote community participation. The April big event Probability of starting BN.
Lava network
Introduction: Lava Network aims to become a marketplace for blockchain data. It incentivizes node providers and decentralized application users to feed market blockchain data into its network.
Official website: https://www.lavanet.xyz/
Financing: US$15 million in seed round
Participating investment institutions: Jump Capital, HashKey Capital, Tribe Capital, Node Capital, Finality Capital Partners, North Island Ventures, Dispersion Capital, Alliance DAO, Anagram, Quiet Capital, MH Ventures, Chorus One, AlphaLab Capital Group, YTWO, Protocol Labs, StarkWare, ChainLayer, Galileo, Compa Capital, Caladan, Keplr, etc.
Project Progress: 1500 validators, + 280 provider registrations, 30 networks supported. Evmos ipRPC
Axelar ipRPC, Starknet + Apibara (where Lava is already used as default RPC by the largest react js library), NEAR (contract signed - announcement sneak peek) Koii (signed) and many more ecosystems. The mainnet is expected to be launched in the first quarter, and there will be airdrop rewards at the same time.
Reasons to pay attention to SixthDaoVC: The modular track has just begun, and RPC nodes are also in hard demand. When the two are combined, I believe this project will be very promising. Lava made millions of dollars in profit last year and is expected to make more than 5 million this year. USD, can support any blockchain API and RPC. The base layer can be extended using the modular specification, a new blockchain primitive, which means Lava can become the API layer for all chains, allowing dapps to customize their packages and access any API under one subscription.
Unisat
Introduction: One of the most popular browser extension wallets that supports ordinals, allowing users to safely and easily store, send and receive Bitcoin and Ordinals on the Bitcoin blockchain.
Official website; https://unisat.io/
The amount of financing was not disclosed
Participating investment institutions: OKX Ventures, Vitalbridge Capital, ABCDE Capital, SWC Global, LK Venture, Skyland Ventures, etc.
Project progress: Currently undergoing security review and passing the Google Play review process, the APP is expected to be launched for user convenience. The brc 20-swap standardization update will soon support cursed inscriptions and evaluate rune potential.
Reasons to pay attention to SixthDaoVC: As one of the projects currently with inscription and BRC 20 pricing power, it can be said to be the infrastructure with the most users and the most attention besides OKX wallet and BN wallet. We said last year that the positioning and meaning of unisat is equivalent to unisawp in defi. Inscription requires a product that is large enough in this pattern and continues to be built.
Diba and Bitmask
Introduction: These are two products from the same company, DIBA is a Bitcoin NFT market that allows users to trade any assets issued by Bitcoin smart contracts on layer 2 networks (such as the Lightning Network). BitMask Wallet: Browser extension for decentralized applications on Bitcoin. Access Bitcoin Finance, NFT (UDA) using RGB protocol
Website: https://bitmask.app/
The amount of financing was not disclosed
Participating institutions:
Waterdrip Capital、Draper Associates、Actai Ventures、Rodney Yesep、Brad Mills、Martial Eagle Fund、SixthdaoVC
Project progress: The first 9 RGB resources have left their mark on BitMask, and the project is waiting for RGBv 0.11 version to be launched.
SixthDaoVC Reasons to pay attention: The RGB track is a mainstream Bitcoin protocol that we have been paying attention to. At the same time, we believe that RGB will have great opportunities, so we chose bitmask, the most formal project in the RGB track at present, to make a bet.
BitSmiley
BitSmiley is the MakerDAO of the Bitcoin ecosystem, providing a comprehensive solution for Bitcoin DeFi by solving the most significant gap in the current Bitcoin ecosystem - stablecoins and lending infrastructure. In addition to offering stablecoins in the bitRC 20 format over-collateralized in BTC, BitSmiley also facilitates peer-to-peer lending based on BRC 20. In addition, it established insurance and CDS derivatives based on the lending framework.
Official website: https://www.bitsmiley.io/
The amount of financing was not disclosed
Participating investment institutions: Kucoin Ventures, SatoshiLab, ABCDE Capital, OKX Ventures, CMS Holdings, Foresight Ventures, LK Venture, Waterdrip Capital, Blockchain Founders Fund, ArkStream Capital, 7 upDAO, Comma 3 Ventures, Momentum Capital (MT Capital), Cryptogram Venture (CGV), Candaq Fintech Group, etc.
Project Progress: In partnership with merlin, users can stake bitDisc-Black NFT, which has increased hundreds of times since its release. Cooperate with portal to integrate $bitUSD into the PortalDEX network, carry out bitSmiley carnival activities, and get rewards. Waiting for the staking to go online will start a new round of narrative.
Reasons to follow SixthDaoVC: BitSmiley has achieved many excellent results since its launch. The OG NFT card released simultaneously in cooperation with many projects has made most players profit dozens of times. It has received investment from leading institutions and is innovative in the BTC ecosystem. The stablecoin project is expected to fill the gap in the BTC ecosystem and is expected to be launched on major exchanges such as OKX and kucoin.
Monad
Introduction: In building high-performance layer 1 blockchains for the next generation of decentralized applications, our mission is to accelerate the disruption of decentralization by building blockchains that are 100x to 1000x faster than the nearest competitor. the power to alleviate severe bottlenecks in existing blockchains and enable more complex applications and wider adoption
Official website: https://www.monad.xyz/
Financing: $19 million
Participating investment institutions: Dragonfly, Lemniscap, Shima Capital, Placeholder, Finality Capital Partners, Credibly Neutral, Naval Ravikant, Cobie, Hasu, 0x Maki
Project progress: Wormhole airdropped to the monad community and launched the internal test network. Nearly 60 projects have confirmed that they will build based on monad and are waiting for the test network to be launched.
Reasons to pay attention to SixthDaoVC: Monads vision is to improve the execution efficiency of EVM on a large scale at a single layer of Layer 1 through parallel processing, thereby unleashing the potential of the EVM ecosystem. The team has a strong background, and the technical community is also top-notch. It is very likely to become the next generation public chain king-level project, or the next sol
Metropolis
Metropolis is delivering a curated, artist-drawn, functional virtual world that includes a digital physical marketplace, exclusive events, and end-to-end gamification. At its core, MetropolisX is a collaborative marketplace where creators can monetize and launch personalized products, while their fans can have a more immersive connection and access exclusive products, content and experiences.
Official website: https://www.metropolisworld.io/
Amount of financing: US$1.2 million
Participating investment institutions: Cointelegraph Accelerator, Lamina 1 Ecosystem Fund, ACS, Outlier Ventures, Protocol Labs, Primal Capital, Zephyrus Capital, Cluster Capital, EthLizards, Acacia Digital, Block Consult, IBC and a number of strategic angel investors.
Project progress: Signed more than 350 cooperation agreements with top brands and creators such as Yung Gravy, Steve Aoki, Christian Cowan, Time Out, etc. Cumulative partner reach exceeds 300 million, white label SaaS solution for companies and brands, with $1.5 million in revenue from the metaverse in the first 12 months. Preparations are underway for a mid-2024 token generation event that will hopefully integrate its various components into a cohesive gamified ecosystem
SixthDaoVC Reasons to Follow: Featuring a team of storytellers with two decades of world-building expertise, Metropolis aims to add depth to every corner of its virtual realm. Cooperating with many well-known artists, we are still paying close attention to the Metaverse track, and believe that there is still room for explosion, so this project can be regarded as a small, beautiful, small and precise project.
END
The above are the eight primary projects we have brought to you. We have been deeply involved in the primary investment field for three years. Some of the projects we invested in in the past have suffered losses, while others have yielded tenfold or even hundredfold returns. The charm of the primary market is that you can understand And get access to the core resources and information of the project. Since we started doing first-level investment research, we have explored many potential projects. We hope to share high-quality projects with everyone. Only by participating in the early stage can the benefits be maximized.
