Nov 3, 2021

Recap of DeFi Space, October 2021

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Defiprime Newsletter

@defiprime

🆕 New DeFi Products

DEFIYIELD is a yield farming ecosystem and dashboard that is aimed at accessibility, safety, security, and governance.

Fei v2 is a new version of the Fei protocol, with new upgrades including stability, efficiency, and scalability of FEI.

Infinity is a community-driven NFT marketplace, built for the future of NFTs, and calling themselves the FTX of NFTs.

Pods is an on-chain protocol which aims to bootstrap options markets for any ERC20.

UniLend v2 is a new version of the UniLend protocol. It introduces upgrades like allowing anyone to list a token and be able to straight away access DeFi services without barriers.

Olympus V2 is a new upgrade of the Olympus DAO, with new features like on-chain governance, bonds, audit, and more.

Across Protocol is a new protocol which aims to be fast, cheap, and secure, and allow you to move funds from L2s (Arbitrum, Optimism) to L1 on a faster bridge.

Diagonal Protocol is a new protocol which aims to create better subscriptions on Ethereum, and new ways for creators and developers to monetize their projects.

PubDAO, launched by founding contributors like The Defiant, ACJR, and other prominent DAOs, is a new media DAO aimed at crypto coverage.

Finance.vote is a sponsor of our monthly newsletter 🙏

Finance.vote is a protocol for decentralised governance. At its heart is a DAO that governs a dApp suite, which provides all the tools that decentralised organisations will need to build a sustainable token economy. Finance.vote champions collaboration and digital democracy through decentralised technology and welcomes new and established protocols to upgrade their markets and governance.

❓What’s new at Defiprime

Defiprime listed a handful of new products this month. They include:

Ribbon Finance, a project which uses financial engineering to create products that deliver sustainable yield. ✅
Stake DAO, a non-custodial platform that helps anyone easily grow their portfolio. ✅

🔗 Noteworthy Links

💸 Venture Financing

Layer3 raised $2.5M recently.
a16z valued the dev of NFT game Axie Infinity at $3B.
The Thorchain-based DEX Thorswap raised $3.75M in a private token sale.
Strips Finance, an soon-to-be interest rates trading platform, raised $8.5M.
Art Blocks, a digital art project, raised $6M at the start of October.
PowerLoom recently received $3.1M in seed funding for their protocol.
Merit Circle closed a $4.5M seed funding round, with their main objective being to revolutionize the P2E gaming industry.
Tinyman, an Algorand-based DEX, raised $2.5M at the start of the month.
reNFT closed a $1.5M strategic funding round.
ConsenSys held funding talks, with their company being valued at $3B.
Futureswap raised $12M, with the lead investors being Ribbit Capital and Framework.
Binance launched a $1B growth fund, with the objective being to bring the next billion users to crypto.
Portal raised $8.5M from private investors, and also announced a public equity sale on Republic.
Nova, a project focused on building programmable assets for Solana, raised $3M in funding.
Aurora, a Ethereum virtual machine for scaling dapps on NEAR, raised $12M in a private funding round.
FIAT DAO closed a $2M seed funding round, with the main goal being the empowerment of DeFi fixed income.
Obol, run by a former ConsenSys exec, raised $6.15M to better build the protocol.
ElementFi, valued at $320M, finalized a $32M Series A funding round.
Variant announced its second fund valued at $110M, aimed mainly at startups, markets, and general DeFi.
Multicoin Capital is to raise $250M for it’s third fund.
PsyOptions raised $3.5M on the 20th of October, to help create options liquidity mining and NFT derivatives.
Lending platform Sublime, which helps users stake their reputations for better loans, closed a $2.5M funding round.
Sommelier Finance, a project which wants to automate DeFi trading, raised $23M in Series A funding.
Polynomial Protocol raised $1.1M, to help them build a DeFi options marketplace.
NEAR Blockchain got a $350M grants-vehicle for DeFi, courtesy of Proximity Labs.
NEAR Protocol has also offered $800M in a grants fund, aimed at ecosystems, startups, and other DeFi projects.
CoinList, backed by Jack Dorsey, raised $100M recently, and is valued at $1.5B.
Immunefi, a bug bounty platform for DeFi, closed a $5.5M seed funding round on the 26th of October.
SIPHER, the developer of an upcoming NFT game, World of Sipheria, raised $6.8M in seed funding, with the lead investor being Arrington Capital.
The XDEFI wallet is looking to raise $12M in its initial DEX offering in early November.
Drift Labs closed a $3.8M seed funding round, with the lead investor being Multicoin Capital.
Tulip Protocol recently raised $5M in strategic funding, with investors including Jump Capital, Alameda Research, Amber Group, and many others.
Quicknode, a leading blockchain infrastructure provider, closed a $35M Series A funding round, led by Tiger Global as the lead investor.
Alchemy, valued at $3.5B, raised $250M in Series C funding, led by a16z.
Ruby.Exchange, one of the first NFT-powered AMMs, closed a $2.8M funding round, led by investor NGC Ventures.
Hawku, a soon-to-be NFT marketplace and gaming/utility platform, raised $4M, with the lead investor being Multicoin Capital.

Upcoming DeFi Events

DeFi Live - 10 Nov 2021 - London, UK and Online
The Conference.NFT Kyiv - 27 Nov 2021 - Kyiv, Ukraine
Future of DeFi - 16 Dec 2021 - Online
Deficon - 18 Dec 2021 - New York City, US
ETHDubai - 29 Mar 2022 - Dubai, UAE
Permissionless: The World’s Largest DeFi Conference - 17 May 2022 - Palm Beach, US

DeFi is coming. Don’t get left behind. Daily DeFi news at our Telegram announcement channel👇👇👇

t.me/defiprime

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