Venture Trotter Weekly Review: Week Ending 3/10/23

Ruceto tracked over $170 million in institutional investments into crypto or web3 companies last week. Links to the target company website, investment announcement, and token info are provided via hyperlinks on the Target Name, $ Raised, and Token columns respectively.

Target Name $ Raised Lead Investors Description Token
Poly Chain Capital, Sequoia, Brain Capital and various others.
Scroll is a zkEVM-based zkRollup on Ethereum that enables native compatibility for existing Ethereum applications and tools
Liberty City
A Web3 application for storing and managing digital assets
Blockchain Capital
Global solution for token compensation and tax compliance
Play Time, Greylock, Hack VC and various others
Developing a suite of football games utilizing Web3 technology
Enables crypto firms to prove solvency without revealing sensitive information
BlueYard Capital, Balderton, Ethereal Ventures, FinTech Collective, Brevan Howard, Coinbase Ventures, and others
A decentralized exchange which uses violet infrastructure
Polychain Capital
Provides developer tools and infrastructure to simplify the process of building decentralized applications
ego death capital
A mobile application for managing owned bitcoin in Europe
Placeholder, Galaxy
Developer of a decentralized stablecoin that is backed by a diversified portfolio of assets to provide stability in a range of market conditions
Draper Associates, Tim Draper
A web3 email service provider allowing fully encrypted and anonymous P2P communication
Offers a white-label cryptocurrency wallet and payment solution to businesses, enabling them to create their own branded cryptocurrency wallets and payment systems
Y Combinator, Arca, and others
Enables the conversion of Brazilian Real to BRLe, a fully collateralized stablecoin

Gyroscope is a building the decentralized stablecoin, GYD. One of its key features is an “all-weather reserve” design that ensures stability even in volatile market conditions. Units are fully backed by a diversified basket of assets that are separated in vaults with minimal overlapping risks. Gyroscope is also attempting to reduce governance risk related to governors who benefit in the short term from actions that are detrimental to the protocol’s health by including a system of checks and balances including conditional cash flows. The Gyroscope Protocol is still being developed and will be launched on Ethereum.

Ether mail is the first Web 3 email solution that provides fully encrypted and anonymous P2P communication. The platform prioritizes privacy, to protect users’ personal information, and free communication between users to foster community and information sharing. Users are compensated based on how much value they provide to advertisers. Ether mail has its native currency EMT which is yet to be launched, however the platform has its incentivization mechanism in place which allocates EMC to the users that will later be converted into EMT. EMC can be earned by reading emails, connecting your wallet to access your Ether Mail account, leaving a secondary email, completing an IMAP connecting, and inviting friends.

ECSA enables the conversion of Brazilian Real (BRL) to BRLe, which is a fully collateralized stablecoin. This means that for every BRLe token issued, there is an equivalent amount of Brazilian Real held as collateral, ensuring that the stablecoin is pegged to the value of the BRL. The reserve supporting BRLe is held by Banco Itaú-Unibanco, which is regulated by the Central Bank of Brazil. ECSA’s market-making APIs facilitate instant exchange of BRLe to USDC. BRLe token holders earn yield from the government bonds that the BRLe reserve is invested in.

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Disclaimer: The content presented is for informational purposes only and does not constitute financial, investment, tax, legal, or professional advice. The content is provided ‘as is’ without any representations or warranties, express or implied.

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