P2E guild structure: comparison of the advantages and disadvantages of the eight major guilds
Original title: "IOSG Weekly Brief | YGG and its opponents--In-depth study of Goldsmithing Guild #116"
Original source: IOSG
Part.1 Insight
Author: Mcsauceth & 0xSong, Impossible Research
Compiler: Andy, IOSG Ventures
The original text of this article is a research report on P2E guild written by Impossible Finance. IOSG authorized the translation and released some excerpts of insight. The full text of the report will be issued as soon as possible. Thank you Please look forward to!
P2E guild structure analysis
Play-to-Earn (P2E) games The rise in recent months can be attributed to a variety of factors, of which P2E Guilds are often the most important, as they offer things like scholarships, social media marketing, or direct financial investment to P2E games, thereby Significantly increase the daily active users of its cooperative games.
P2E Guilds have had great success helping Axie Infinity and other P2E games scale, allowing them to accumulate token assets to reinvest and expand. Then with success comes competition, which can be seen in the number of new additions to P2E guilds. In response to this, Impossible Finance aims to educate its community and provide the following necessary knowledge about P2E guilds and their respective products. In this report, we analyze eight P2E guilds in detail, comparing their various aspects and investment theories.
TLDR Conclusion:
(Source: IOSG Ventures)
One of the main conclusions that can be drawn after taking an in-depth look at eight different game money making guilds is the influence of guilds on the P2E space. Either through guild analysis platforms such as Virtue Alliance to discover new metadata and strategies to improve the efficiency of the game, or to establish a P2E e-sports scene, such as the Galaxie Cup launched by Hooga Gaming, or to employ a large number of scholars like YGG Guilds to increase daily active users. Additionally, with the continued rise in AUM held across various games, and continued investment from guilds like Merit Circle, we can see guilds actually positively impacting the P2E ecosystem. By continuing to provide greater traction across the ecosystem, coupled with the continued investment we're seeing in the game, Guild has a lot to like as they remain one of the leaders in the P2E direction.
The same problem currently facing guilds is an over-reliance on Axie Infinity. This is mainly due to two main factors: Axie Infinity is currently the gold standard for the game monetization scene that attracts the most users, and the current lack of P2E games, as many are still in development. In turn, it creates an ecosystem that Guilds currently have is relatively one-dimensional.
However, once more games start to be released, guilds will have more opportunities to expand their strategies and operations. Whether it's recruiting more Scholars to play a game aimed at maximizing guild income, or something more focused on gameplay and fun. As the game's choices begin to enrich, we can focus on how guilds deploy resources in response to changes, because these important choices will determine the long-term success of these guilds.
Guild 1: Yield Guild Games
As one of the earlier guilds, YGG is in Their main game, Axie Infinity, managed to amass a huge player base - a total of over 10,000 scholars from more than 10 countries. YGG also managed to acquire 21 gaming partners during this period, some of which are already playing in their communities. Usually for new games YGG will deploy a subDAO in order to divide the focus for certain geographic regions or games. For example the first YGG subDAO was YGGLOK (League of Kingdoms), but now there are others such as YGGSPL (Splinterlands), YGG Pilipinas, YGGSEA and IndiGG.
As of September 30, 2021, YGG's assets under management are currently worth $845,916,893 (including its native tokens). The vast majority of their AUM comes from tokens, mainly from their native token, which accounts for about 90% of the entire AUM. Excluding their native token, this would represent a total of $64,576,735 under management, which would be a more representative figure. This can be seen in the pie chart, showing the split between tokens (excluding YGG), NFTs, and early-stage investments.
Scholarship status:YGG scholars have successfully created a total of Over $13.6 million in SLP, 70% of which goes back to academics (comparable to academics within Merit Circle), with the final 30% split into 20% to community managers and the final 10% to YGG. Given the benign divide between the DAO and its academics, this may be one of the many reasons why academics continue to want to work with YGG, as it provides players with the necessary institution to keep them motivated.
Game situation: YGG has invested and operated 21 different P2E games, such as Axie Infinity, Thetan Arena, Illuvium, ZedRun, League of Kingdoms, SplinterLands, Guild of Guardians, Star Atlas, and Embersword.
Guild Structure: Similar to many other guilds, YGG's structure relies heavily on subDAOs to host game-specific assets and activities. When a subDAO is created, a portion of subDAO tokens will be given to the community. Community subDAO token holders can send proposals and votes on specific game mechanics. Its purpose is to incentivize the community to place assets under treasury management. This will allow community subDAO token holders to enjoy the potential advantages of assets and earnings generated by their productive gameplay. Additionally, subDAO will allow guilds to operate more efficiently by localizing their operations and streamlining processes that may vary from game to game. By encouraging players of the same game to cooperate with each other, SubDAO also helps create a more localized sense of community within the wider YGG community. Some of their subDAOs currently include YGGLOK, YGGSPL, YGG Pilipinas, YGGSEA, and IndiGG, and further plans to continue to expand this part of the business.
Value Proposition:YGG was the first to gain attention One of the guilds in , and the first to implement the franchising and subDAO model, which gives them an extremely powerful position due to their first-mover advantage. Being able to take advantage of this, they are able to hire faster and with better quality because they are household names. This in turn will continue to further allow YGG to expand to other games at a better rate when considering investment opportunities, which will lead to their greater ability to expand their subDAO and maintain their core goal of being able to generate income by operating and leasing NFTs and Invest in NFTs that yield the best yield in the Metaverse.
Getting a bigger deal flow will seep further into their scholar community, and it gives scholars access to games that smaller guilds might not be able to offer. However, their goal of investing in assets that yield the best yields can be further extended to blue-chip assets and stablecoins within their treasury balances. With a large amount of stablecoins and ETH in YGG's vaults, their stable and blue-chip assets are severely underutilized to generate yield.
YGG has stablecoins and ETH with a total value of about 18 million US dollars, and has the ability to utilize these assets in low-risk mining, which can generate considerable returns every year. Thereby reducing their exposure to more volatile assets, which would be typical for them to continue investing in new games. By having a steady stream of liquidity mining, generating some form of income, it allows them to have a higher utilization rate in terms of yield-generating assets, thus increasing efficiency overall.
Guild 2: Ancient 8
Ancient8 is the largest blockchain game guild in Vietnam. Co-incubated by Coin98 Labs, Kyros Ventures, Coin68 Media and 3twelve Capital. Ancient8 aims to develop a platform to give their community the opportunity to play and build in the Metaverse while being rewarded monetaryly. Ancient8 has grown its community through investment, scholarship and education and has grown into one of the most successful gaming guilds
Scholarship Status: Ancient8's Axie Infinity Scholarship Program currently has over 1,000 Scholars (Scholars, or Scholars) and aims to increase its scholarship pool in other games such as Thetan Arena and Cyball. Ancient8 plans to add another 1,000 scholars after the official launch of its Cyball Scholarship Program. Ancient8's scholarship share ratio is undisclosed and may vary by scholar
Game situation:Ancient8's investment and participation in P2E games Mainly around Axie Infinity, Thetan Arena, and Cyball, but their commitment to the P2E scene allowed them to expand further into Sipher, Summoners Arena, and Elpis Battle, among others.
Guild Structure: Ancient8 is currently moving towards a DAO as it aims to be more decentralized. Currently Ancient8's guild structure is relatively simple and flexible, with only one entity having ownership of all its assets and investments. As Ancient8 continues to evolve, it will be interesting to see whether its DAO structure chooses to use subDAO structures for specialized tasks and operations, or to keep its single structure flexible and simple.
Value Proposition: Compared with other game guilds, Ancient8's main advantage lies in its ability to build a strong community and dominate the Vietnamese regional ecosystem unique ability. Targeting more niche markets such as Vietnam is especially beneficial for macro reasons. According to ChainAnalysis, Vietnam ranks first in the world in cryptocurrency ownership and usage, and this has been proven and supported by the rapid rise of Vietnamese crypto companies, projects, and protocols. Ancient8's staggering 73,000 community members from Twitter and Discord alone is already a testament to its competitiveness.
Guild 3: The Good Games Guild
The Good Games Guilds aim to optimize the use of their own P2E assets and loaned P2E assets to help create and nurture the largest virtual world economy to ensure maximum returns and rewards.
Scholarship Status:Good Games Guilds offers a 65/35 split between Scholars/Guilds. There are currently 500 active scholars in GGG who use guild assets to earn daily income in Axie Infinity, with an average of about 130 SLP per scholar per day. (as of January 12, 2022)
Game Status:Good Games Guilds are currently involved in over 20 games as their The goal is to diversify and continue to leverage productive assets to generate multiple revenue streams from game operations. GGG is currently involved in Axie Infinity, Elumia, Era7, Elfin, MetaStrike, Wasted Lands, RaceFi, Hero Arena, Age of Tanks, Duelist King, Decitated, and Universe Island.
Guild structure: The structure of GGG is similar to that of Hooga Gaming, different vaults have their own exclusive purposes, but the structure of GGG are distinguished using dedicated revenue streams rather than operations. At present, GGG's treasury is mainly divided into three aspects: Axie breeding income, game scholarship income and NFT market income. Revenue from these vaults will then be distributed to $GGG holders based on their percentage of total revenue compared to other vaults.
Value Proposition: GGG has been able to bring in Good Games Labs, an incubator for start-up projects that have successfully passed a series of Selected to help nurture and develop these projects into high-quality products that can compete with top-tier P2E games such as Axie Infinity. In addition to this, the introduction of GGG's NFT marketplace will allow users to buy and sell GameFi-related NFTs on their marketplace, thereby giving them more access to game creators, gamers, and artists, so GGG will always be able to benefit from the ecosystem Profit from various behaviors in .
One final thing to consider about GGG is that the average SLP earned per day by Scholars is relatively low compared to other guilds, each Scholar earns Take 130 SLP. This could be interpreted by GGG's scholars as a lack of quality, or the lack of quality of GGG's Axie Infinity NFT assets, so that GGG's scholars cannot keep up with Axie Infinity's ever-changing meta and strategy.
Guild 4: GuildFi
GuildFi is a network that connects games, NFTs, guilds and communities The infrastructure of Web3, creating an interconnected system where players' time and energy can interoperate across the entire game and metaverse. By providing a foundation for players, GuildFi aims to solve the accessibility issues players typically face in GameFi. More importantly, GuildFi will provide long-term benefits to players by giving them the opportunity to participate in a variety of different games, reducing games that are often siled due to high start-up costs and the added complexity of cryptocurrencies.
Scholarship Status: Axie is still where most of GuildFi's scholars are located, it still has more than 1,500 scholars, it is considered P2E The most important game in . Next with the most Scholars is Cyball (1000+), followed by Thetan Arena (500+), and finally Pegaxy (100+): over 3000 Scholars in total. However, as more games start to roll out, expect more academics to join GuildFi, especially as their scholarship waiting list already exceeds 20,000 people, indicating a huge market interest. Additionally, GuildFi has over 30 coaches to assist players with game-specific onboarding and coaching.
Game Facts:GuildFi has invested in many different games, highlighting their growing need for more investment opportunities as well as game design Diversity, as the game earning space continues to evolve. This can be seen in their early investments in games like Pegaxy, Sipher, Elpis Battle, Gunstar, Zodium, Nitro League, CyBall, Syn City, Elumia and Mavia.
Guild Structure:GuildFi's DAO structure is basically divided into two main parts: Game Center and Space - consisting of tools, guilds, Composition of NFT and treasury: The Gaming Center is the core mechanism for introducing users, and Zones is a dedicated engine that drives business activities, adding value to the entire ecosystem of GuildFi: including Guild Zone, NFT Zone and Tools Zone . Spaces can be viewed as a dedicated engine that adds value to GuildFi's entire ecosystem.
Value Proposition:GuildFi's long-term plan allows them to attract players who not only want to make a quick buck, but also want to actually enjoy the game players. Thus, enabling them to house an entire portfolio of games that can cater to different needs, creating a more well-rounded guild. It reduces the over-reliance on recruiting players into guilds as a form of expansion, as there are immediately a large number of other guilds in the GuildFi network using their services that they can use to continuously grow their base. Additionally, it gives players the flexibility to move among different guilds within the ecosystem based on the preferences and games they want to play, essentially creating an echo chamber as other guilds within the ecosystem already provide diversity, Thus retaining the player.
Guild 5: Hooga Gaming
Hooga Gaming is a DAO designed to A DAO participating in the game builds an equal opportunity community and a strong e-sports scene to develop the Web3 GameFi ecosystem. Hooga Gaming aims to do this through three distinct areas: Community, Tools, and Competitive Play.
Scholarship Status: Hooga Gaming also offers a very competitive split between the Guild and its Scholars, between Scholars/Hooga Gaming The average split between rooms is 70/30. Currently Hooga Gaming has 350 scholars with an average daily SLP of 160 SLP per scholar.
Game Situation:Hooga Gaming is always looking for new opportunities in the P2E ecosystem and space, as evidenced by their interest in Axie Infinity, Sipher, Nyan Heroes and Cyball's investments, as they aim to generate revenue through P2E games. This can also be seen in their investment in a Web3 gaming launchpad.
Guild structure:Hooga Gaming consists of a main guild with 4 additional sub-guilds (DCG sub-guild, Cruxia Sub-guild, AOC Sub-guild, Putra Sub-guild). The main guild accounts for about 70% of the total scholarship, and the remaining 4 sub-guilds account for the remaining 30% of the total scholarship. Hooga Gaming can provide sub-guilds with top-tier scholarships, as each sub-guild serves a specific and dedicated purpose for Hooga scholarships. DCG is solely responsible for the cultivation of the top Axies of scholars, Cruxia is responsible for the live broadcast of the event and casting, AOC is responsible for community management, and the Putra branch is responsible for content creation.
Value Proposition: Hooga Gaming's main advantage over other gaming guilds is their ability to develop and retain high quality scholars, To ensure that Hooga Gaming Scholars are always making efficient use of guild assets. This can be seen in the fact that academics at Hooga Gaming average 160 SLPs per day, while scholars at guilds such as the Good Games Guild average 130 SLPs per day. Hooga Gaming has acquired the ability to grow their scholars to higher potential through the number of services they provide, such as providing higher incentives for scholars when quantitative and qualitative KPIs are met (e.g. MMR, activity, content creation, ideas), Introduce the winning mentality of mandatory boot camp and implement educational content that exposes academics to top game meta and strategy. As can already be seen with the launch of the FTX Galaxie Cup, Hooga Gaming and its partners were able to organize a leading tournament in the Axie Infinity esports space, a testament to Hooga Gaming's growth, ambition and goals.
Guild 6: Merit Circle
Merit Circle was first established in August 2021 to Create a decentralized autonomous organization to develop and provide opportunities through P2E. Merit Circle aims to create an environment that effectively connects capital, expertise and participants. This can already be seen in Merit Circle's Axie Infinity operation, by offering competitive in-game assets, education on in-game tactics and strategies, and competitive cuts for potential players.
Scholarship Status: Merit Circle provides a very competitive share ratio between DAO and its scholars, between scholars/DAO The average ratio is 70/30. Merit Circle currently has 2,750 Scholars playing Axie Infinity for SLPs using the DAO's assets.
Game situation:Merit Circle has invested and operated more than 20 kinds of games, such as Axie Infinity, Vulcan Forged, Cyball, Fancy Birds, Big Time, Genopets, Hash Rush, Illuvium, Nyan Heroes, Heroes of Mavia, Summoners Arena, Mixmob, Rainmaker, Sipher, and UFO Gaming. As the P2E ecosystem continues to grow, Merit Circle believes that the future of free-to-play games will be targeted by more traditional gamers, with players sharing the economy to enhance their own gaming experience.
Guild Structure: Merit Circle's DAO consists of three important parts: MainDAO or EcosystemDAO is a great tool that can The following approach functions in all of Merit Circle's operations; SubDAO is the designated DAO for each P2E game; Vaults represent the strategy Merit Circle has deployed to generate revenue and ensure profits flow back into the ecosystem. The specific interaction method can be seen in the figure below:
(Source: Impossible Research)
(Source: Impossible Research)
Value Proposition:The main competitive advantage of Merit Circle over other P2E guilds is the use of their DAO structure to ensure that Merit Circle is constantly adapting to the gaming monetization environment. Using their subDAO ensures that Merit Circle's treasury and AUM is comprised of multiple assets spread across multiple games, keeping Merit Circle at the forefront of any major changes in the game. Another competitive advantage is that Merit Circle is a gaming DAO rather than a traditional scholarship guild, as Merit Circle's activities go far beyond providing scholarships to its community members. Conversely, Merit Circle prides itself on its ability to build its products, as evidenced by Edenhorde's presentation, Merit Circle's first hatch product designed by expert and Emmy Award-winning designers.
Guild 7: UniX Guild
The UniX Gaming Guild is designed to Esports competitions, education, and community member training to focus on creating an engaged community. The UniX Gaming Guild started its Axie Infinity operation in September 2021 and has since grown a community of over 130,000 members. The UniX Gaming Guild aims to add more earning opportunities to its community – by engaging academics in other P2E games, and operating a P2E game launchpad and NFT marketplace in the future.
Scholarship Status:From November 2021 to January 31, 2022, the Axie Infinity Scholars Pool at the UniX Gaming Guild has been extended from 1,008 grew to 4,600 and has started expanding its scholarship business in other games, with another 50 Scholars focusing on Rising Sun, 100 Scholars playing Starsharks, 100 Scholars playing Pegaxy, 40 Scholars playing Block Ape Scissors, 50 Scholars Scholars play Idle Mystic and 100 other Scholars play Placewar. UniX Gaming has 5,040 academics involved in its gaming monetization business. UniX is also focused on increasing the number of professional leaders within its guild and currently has a team of 62 team leaders, 13 recruiters, 40 trainers and 54 professional leaders overseeing various departments within the UniX Gaming Guild . The UniX Gaming Guild offers a 50/50 split between scholars and guilds.
Game Situation:The UniX Gaming Guild is committed to continuously contributing to the P2E space, as evidenced by their investment in P2E games and seen in the contribution. The UniX Gaming Guild currently participates in Axie Infinity, Big Time, Adanimal, Monkeyleague, Sidus, Sipher, Starsharks, and Syn City
Guild Structure: The DAO structure of the UniX Gaming Guild is relatively fluid, with revenue-generating activities forming the main body of the DAO and allowing profits and revenue from these activities to flow into other areas. Income-generating activities such as game operations/scholarships, NFT leasing, NFT marketplace income, UniX’s launchpad and Land NFTs provide profits for UniX, or for outreach activities such as investing in new projects and academics to reward its investors, treasuries, and advisors, Or reinvest in income generating activities for further expansion.
Value Proposition:Compared to other gaming guilds, UniX Gaming Guild's main competitive advantage in the P2E space is their commitment to improve P2E Infrastructure within the ecosystem. The UniX Gaming Guild is currently implementing its own NFT marketplace called Pegify to make it easier for community members and external users to trade P2E assets, and to provide a platform where the UniX Gaming Guild will be able to sell their own developed NFTs; Unix also A game launchpad will be provided to allow community members to participate in the initial game product and help new P2E games through marketing assistance on social media platforms such as Youtube and Twitch.
The UniX Gaming Guild is also working on implementing a game of its own called Unity. Unity aims to compete in PvE and PvP modes of varying difficulty by enabling a metaworld-centric experience, including combat with characters and weapon NFTs. One thing to consider is that the UniX Gaming Guild and the Good Games Guild have a similar and strong focus on their NFT marketplaces and their respective launchpads. The UniX Gaming Guild and GGG are likely to compete directly with each other in the future, as their roadmaps and future plans are relatively similar, and both NFT marketplaces and launchpads are typically products with strong consumer loyalty, as these products are often based on their native currency.
Guild 8: Virtue Alliance DAO
Virtue Alliance is a DAO focused on gamers , aims to help gamers maximize their performance and revenue through a combination of experts, operators and analytics. Virtue Alliance aims to provide more services to its guild members by building an all-in-one platform with advanced analytics to help managers and players improve their productivity and improve their weaknesses through systematic education and training to Maximize profits and make Scholars top performers in their respective games.
Scholarship status: There are currently 1040 scholars in the game operation of Virtue Alliance, and the player base is growing at a rate of about 8% per week. And provide scholars with a 50/50 sharing ratio during the trial period, and then implement a 60/40 sharing ratio between scholars and DAO after the trial period ends. Virtue Alliance Scholars currently earn an average of around 145 SLP per day. 10% of revenue goes to operations, player managers and community leaders, and 30% goes to the Virtue Alliance main treasury.
Game Situation:While Virtue Alliance's current focus is on Axie Infinity, Sandbox, Illuvium and Guild of Guardians, Virtue Alliance has been seeking Continued development within the P2E space, currently negotiating with Nyan Heroes, Nifty Islands, Treeverse and Defi Kingdoms.
Guild Structure:Virtue Alliance's DAO structure is similar to Merit Circle's, using subDAO under MainDAO. The Virtue Alliance's MainDAO will always have a certain percentage of VA-subDAO to ensure that the subDAO can bond with the MainDAO and further expand the treasury.
Value Proposition:Virtue Alliance's main competitive advantage over other gaming guilds is the use of their analytical insights and algorithmic guilds management system. This visual system allows guild members to set up their guild within the platform itself, enabling them to view available P2E assets (such as Axies), what their historical yield is, the calculated APY of NFT assets, and even drill down to the daily system granularity. It can also be used to easily onboard new academics and administrators. Introducing algorithmic recommendations for the onboarding process could help academics and administrators lower the barrier to entry and allow them to start making money for the DAO as soon as they are able to join.
One area where Virtue Alliance may face competition from other guilds will be the rise of third-party analytics platforms, both for P2E guilds, and for the guilds themselves to build increase. However, Virtue Alliance's analytical insights and algorithmic management system go a step further, as the introduction of the algorithmic management system helps remove significant entry pain points for guild operations and their scholars.
Part.2 Investment and financing event
Magic Eden completed $27 million in financing, Sequoia Capital participated Investment
* NFT market on the chain
Magic Eden, the NFT market on the Solana chain, completed a financing of 27 million US dollars. Investors include Sequoia Capital, Paradigm, Greylock, etc. Estimates were not disclosed. Magic Eden was founded by former Coinbase product manager Zhuoxun Yin. In addition to the NFT market, Magic Eden also established MagicDAO, through which users can vote on which NFT series to display on the homepage.
Swell Network completed a $3.75 million seed round of financing, led by Framework Ventures and participated by IOSG Ventures
* Decentralized pledge agreement
Swell Network, a decentralized pledge agreement based on Ethereum, completed a seed round of financing of 3.75 million US dollars, led by Framework Ventures led the round, with participation from IOSG Ventures and Apollo Capital. Other investors include Maven 11 as well as angel investors Mark Cuban, Synthetix co-founder Kain Warwick and Jordan Momtazi, Balancer founder Fernando Martinelli, Ryan Sean Adams, Bankless co-founder David Hoffman, Ren Protocol co-founder Loong Wang and Suji Yan, the founder of Mask Network, etc. This round of financing will be used for multiple rounds of audits on the Swell platform before the mainnet launch in April, and to expand the size of the internal engineering, business development and marketing teams. Through a completely permissionless and non-custodial design, Swell provides stakers with a more efficient way to obtain higher yields and lowers the barrier to entry for node operators. It has been the first to implement non-custodial user direct deposits for Ethereum through atomic transaction design.
ConsenSys Completes $450M Series D Financing Led by ParaFi Capital
*Ethereum Infrastructure The development company
Ethereum infrastructure development company ConsenSys officially stated that it has completed the D round of financing of US$450 million at a valuation of US$7 billion. This round of financing was led by ParaFi Capital, with participation from Temasek, SoftBank Vision Fund II, Microsoft, Anthos Capital, Sound Ventures, C Ventures, Third Point, Marshall Wace, TRUE Capital Management and UTA VC. Sullivan & Cromwell LLP acted as legal counsel to ConsenSys in this transaction. Proceeds from this round will be converted to ETH and the ratio of ETH to USD equivalent will be rebalanced according to ConsenSys’ funding strategy. In the future, the financing will be used to support the rapid expansion of MetaMask, accelerate the global adoption of the Infura development tool suite, and team expansion. The company plans to expand from the current 700 full-time employees to 1,000 in 2022.
Crypto Unicorns Raises $26M in Token Sale Led by TCG and Backed VC
* ;P2E Gaming
Polygon Blockchain-Based Play-to-Earn (P2E) Game Crypto Unicorns Raises $26M in Token Sale, Metaverse Corp TCG and Ventures Investment fund Backed VC led the round, with participation from BITKRAFT Ventures, Delphi Digital, Infinity Venture Crypto, Polygon Studios, CoinFund, BreederDAO, Emfarsis and ACME Capital. It is understood that Crypto Unicorns was developed by Laguna Games, a Web3 game development and R&D studio, and built on the Polygon network, allowing users to hatch, evolve and breed unicorns, and use unicorns for liquidity mining, racing or participating in battles . Laguna Games said that the funds raised are deposited in the Crypto Unicorns DAO treasury, and participants in the $26 million token sale will play a "pivotal" role in future governance decisions.
Hex Trust Closes $88M Series B Funding Led by Animoca Brands and Liberty City Ventures
* Digital asset custodian
Asia-focused digital asset custodian Hex Trust completed $88 million in Series B financing, led by Animoca Brands and Liberty City Ventures, Ripple, Terraform Labs, Morgan Creek, Primavera Venture Partners, LeadBlock Partners, Protocol Labs and Adrian Cheng (CEO of Hong Kong real estate giant New World Development) participated in the investment. The new funding will be used to expand into Europe and the Middle East and secure more licenses. Hex Trust says its partnership with Animoca Brands aims to bring an institutional-grade platform to the GameFi market. The company is now expected to obtain a license to operate in Dubai, the report said. Hex Trust has over 100 employees in Hong Kong, Singapore and Vietnam. A round of financing of US$6 million was completed in the first quarter of last year. In October 2021, it received another $10 million in funding led by Animoca Brands.
Zebec completed $28 million in financing, with Circle, Coinbase, Lightspeed and others participating
*Salary payment agreement
Zebec, the salary payment protocol on the Solana blockchain, has raised $28 million through public and private token sales, leading to the launch of its token, ZBC. Among them, 21 million US dollars of private equity investors include Circle, Coinbase, Solana Ventures, Lightspeed Venture Partners and Alameda Research, etc., and the 7 million US dollars of public token sale is completed in cooperation with Republic. ZBC will serve as the governance token of Zebec DAO and will be released to buyers immediately for trading on various exchanges. The Zebec protocol allows users to send and receive payments, and its core payroll product allows employees to receive wages in real-time in USDC and other stablecoins.
FreedomFi completes US$9.5 million in Series A financing, Samsung and Qualcomm's venture capital departments participated
* Decentralized 5G infrastructure provider
Decentralized 5G infrastructure provider FreedomFi announced the completion of $9.5 million in Series A financing, Samsung Ventures Next, Gao Ventilation investment sector Qualcomm Ventures and Blueyard Capital participated in the investment. FreedomFi provides firmware and small cell hardware for Helium's new token-powered 5G network, enabling individual node operators to leverage the decentralized network to earn HNT tokens and serve nearby smartphones, laptops and tablets . Currently, Helium has more than 640,000 global active nodes. FreedomFi CEO Boris Renski revealed that since the launch of the small cell deployment kit in October, about 10,000 units have been sold, and about half are currently deployed on Helium’s 5G network. FreedomFi is currently the sole manufacturer of Helium 5G gateways and aims to deploy 50,000 devices by the end of 2022.
Mina completed $92 million in financing, led by FTX Ventures and Three Arrows Capital
*Lightweight Public chain
Lightweight public chain Mina announced the completion of US$92 million in strategic and private equity financing, led by FTX Ventures and Three Arrows Capital, Alan Howard, Amber Group, Blockchain.com, Brevan Howard, Circle Ventures, Finality Capital Partners, Pantera and others participated. Mina said the financing will be used to accelerate the adoption of zero-knowledge proofs. The Mina protocol enables a more secure and private Web3 where users own their data by deploying zero-knowledge proof applications or smart contracts. Unique privacy and security features and the ability to connect to any website through its zkApp make Web3 more secure and private, with the goal of making it the preferred privacy and end-to-end security layer for Web3.
Optimism raises $150M from $1.65B led by Paradigm and a16z
*Ethereum Expansion protocol
Ethereum expansion agreement Optimism completed a $150 million B round of financing at a valuation of $1.65 billion. This round of financing was led by a16z and Paradigm. Will be used for team expansion etc. According to Optimism official information, since the mainnet went live, it has saved users $1 billion in gas fees and deployed thousands of smart contracts. In an interview with TechCrunch, Optimism CEO Jinglan Wang said that Optimism will not profit from operating the centralized part of the system, but while earning income, it will return all income to fund ethereum’s public goods.
Coinbooks completed $3.2 million in financing, Y Combinator and others participated in the investment
*accounting software company
Coinbooks, an accounting software start-up company in the blockchain field, announced the completion of US$3.2 million in financing, Y Combinator, Multicoin Capital, Lattice Capital, founders of Polygon, Seed Club Ventures and Orange DAO, etc. Investors participate. San Francisco-based Coinbooks, founded by 21-year-old founder and CEO Arnav Bathla, aims to change the world by integrating encrypted wallets with existing accounting software so that encrypted companies can manage their encrypted and non-encrypted transactions on one platform. Accounting for DAOs and crypto companies.
Part.3 IOSG post-investment project progress
The Polkadot proposal proposes a minimum The nomination amount has been reduced to 10 DOT and is being voted
* Polkadot community
The Polkadot Council is reviewing Motion 168 proposal to vote, Motion 168 proposal aims to reduce the minimum nomination amount of Polkadot from 160 DOT to 10 DOT, and increase the number of possible nominations to 50,000.
Ethereum community proposal to derive Gelato Network's internal DeFi use case G-UNI as an independent project
*Ether Fang Smart Contract Auto-Execution Tool
A proposal in the Ethereum community proposes to spin off G-UNI, Gelato Network's internal DeFi use case, as a standalone project. The proposal proposes: G-UNI is an internal DeFi application built by Gelato core developers to demonstrate the capabilities of Gelato's automated infrastructure. But as of now, G-UNI's TVL has exceeded 500 million US dollars, making it the largest LP on Uniswap v3 so far, and many major DeFi projects (MakerDAO, Aave, Fei, Frax, Angle, etc.) are already using this product for liquidity sex mining. The proposal mentioned that once the vote is passed, G-UNI will be renamed Arrakis Finance and will issue the governance token SPICE.
StarkNet launches Alpha 0.8.0 version on the test network, and the fee mechanism is displayed for the first time
* Layer2
StarkNet launches Alpha 0.8.0 version on the test network, introducing a fee mechanism based on computational complexity, but the current version does not force payment of fees, and StarkWare Layer1 communication fees will still be subsidized. StarkNet will enforce fees starting from version 0.9.0. In addition, this version update also includes: the introduction of Layer2 Ethereum faucet, the addition of the ability to retrieve transaction execution traces to StarkNet's API, the addition of message cancellation from Layer1 to Layer2, and the reduction of the sequencer required to execute incoming Cairo transaction streams. time etc. Additionally, StarkNet Alpha 0.9.0 will be released in a few weeks.
MakerDAO's new proposal proposes to launch a new governance token stkMKR to replace MKR
*Decentralized Stablecoin Agreement
Monetsupply.eth, a member of MakerDAO's risk control team, released the proposed token economics and governance transformation proposal, planning to launch a new token stkMKR to replace MKR. Among them, stkMKR is non-transferable and represents the MKR pledged in the governance agreement. It needs an unbonding period to exit, and holding stkMKR can obtain part of the MKR purchased by the Surplus Auction, thereby encouraging MKR holders to pledge, and through the new governance Tokens participate in governance.
Celer Network announced that SGN v2 has been launched
* Cross-chain Bridge
< p>Celer Network announced that State Guardian Network (SGN) v2 is now officially live. After the upgrade, in addition to enjoying PoS staking rewards, SGN stakers can also obtain transaction fee income from Celer cBridge and Celer IM-based cross-chain dAPP. SGN v1 will stop generating staking rewards on March 23, 2022 UTC.
IoTeX Launches $100M Sustainable Ecosystem Fund
* IoT Blockchain Platforms
IoTeX, the Internet of Things (IoT)-focused blockchain platform, announces a $100 million sustainable ecosystem fund that will support more than 1,000 Decentralized economy machine startup develops use case to drive connection of over 10 million smart devices to MachineFi portal within next three years. In February last year, the China Mobile Internet of Things Alliance launched IoTeX-based public chain products.
Aurora: NEAR mainnet congestion issue resolved
* NEAR Layer2
Aurora official Twitter stated that the NEAR mainnet issue has been resolved and the Aurora mainnet and Rainbow Bridge are fully operational. Issue identified, NEAR mainnet and its RPCs are under high load. Additionally, some NEAR validators are being upgraded to Nearcore 1.25.0. For these reasons, the NEAR mainnet (and Aurora) is congested, so some users may experience slow performance.
MetaMask will launch DAO and release Token
* Wallet
ConsenSys CEO Joe Lubin said that MetaMask will soon launch a decentralized autonomous organization (DAO). The new DAO will not participate in the governance of MetaMask, but the DAO will be an update for MetaMask Funding. Lubin did not provide further details about the DAO or a launch date, but confirmed that MetaMask will not only launch the DAO, but also plans to issue tokens.
Part.4 Industry Pulse
Ethereum test network has successfully transitioned to Proof of Stake (PoS) Consensus Mechanism
*Ethereum PoS Transition
The new Ethereum testnet has been Successfully merged and transitioned to a proof-of-stake (PoS) consensus mechanism. During the project livestream, the developers confirmed that the nodes were getting instructions from RPC calls (i.e. stakers, not miners). Geth nodes will give green text to confirm the transition from miner to staker. The Epochs participation rate is also above 98%. The developers claim that the network is stable, and more than 2/3 of the verifiers can complete the transaction confirmation correctly. There are currently more than 106,000 validators on the testnet, and 3.4 million testnet ETH. If all goes well in the test network, the official network is expected to transition to PoS in June or July this year, which also means that the 5-year related development work is coming to an end.
Curve's new proposal proposes to allow capital demanders to finance through CRV release
* DeFi
Curve launched a community proposal, planning to introduce a new "FundRaising Gauge", which aims to enable those in need of funds in the Curve ecosystem and community funding programs to be released through CRV. Raise funds, enabling a more efficient funding model and enriching the Curve grant framework. If the proposal passes, an on-chain DAO ownership vote will take place.
Uniswap V3 deployment to Celo community proposal passed
* DeFi
< p>The Uniswap V3 deployment to Celo community proposal passed with a 100% vote in favor (approximately 12 million UNIs), and Uniswap V3 will be deployed to Celo. According to the news on March 11, the Uniswap community released a governance proposal, proposing to deploy Uniswap V3 to Celo. It is also mentioned in the proposal that the Celo Foundation commits to invest $10 million in CELO for Uniswap-specific user rewards and grants, and $10 million in financial rewards specifically for Uniswap. The main focus of deployment will be the introduction of assets with natural capital backing Green asset liquidity pools, such as Tokenized carbon credits.
"Move to Earn" game STEPN will distribute about 45 million GMT airdrops to early users
< p>* Social-Fi & Game-Fi
「Move to Earn」game STEPN (STEPN is a Web3 lifestyle app with Social-Fi & Game- Fi elements.) officially posted on social media that STEPN will distribute approximately 45 million GMT airdrops (accounting for 0.75% of the total) to its over 5,000 early users from March 15th to 17th.
Quoth officially launches NFT search function
*Full-chain NFT oracle
The full-chain NFT oracle machine Quoth officially launched the NFT search function, and participants have the opportunity to obtain NFT, which has transaction, access to all functions, permanent access to all future versions and free Banner advertising and other rights and interests. To the best of our knowledge, Quoth is the only full-chain NFT oracle project with Google-like search queries, allowing an all-in-one platform to verify, mint, and bridge NFTs using a single protocol. Quoth's investors include Kucoin Labs, Ledgerlink Labs, Shima Capital, Gordian Agency, Bishares, LD Capital, AU21 Capital, Krypital Group, ARKN Ventures, Kairon Labs, Exnetwork Capital, FollowTheSeed, NGC Ventures, Red Kite, Oxbull, MEXC Global and Mogul et al.
MetaMask Founding Architect Announces Metaverse Interoperability Project MetaMetaverse
* Metaverse Project
MetaMask founding architect Joel Dietz announced the metaverse interoperability project MetaMetaverse, which will build its own Layer 1 blockchain and a new programming language "metametalang" , to help users create their own Metaverse. MetaMetaverse will also allow users to build projects on their virtual lands using different game engines, including Blender and Unreal Engine 5, which Epic Games uses to run the Fortnite game. It is reported that the project previously completed a $2 million seed round of financing at the end of last year, with participation from Polygon Studios, DAO Maker and Ghaf Capital.
ETHDenver Online Hackathon will have Demo Day and Second MACI Voting on March 25
*Online Hackathon
ETHDenver 2022 Online Hackathon will end on March 21st. From March 21st to March 24th is the jury voting stage, and 30 finalist projects will be selected for the online Demo Day project display on March 25th. The second round of ETHDenverMACI quadratic funding community voting will be held simultaneously, and the SPORK community can participate in the MACI privacy quadratic voting through the DoraHacks developer platform HackerLink.io. Up to now, ETHDenver 2022 has submitted more than 300 projects in total. It is reported that MACI is a minimal infrastructure for anti-collusion through zero-knowledge proofs. The DoraHacks platform will start supporting MACI in the fourth quarter of 2021.
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