Last week, there were a total of 22 public financing events in the cryptocurrency market, setting a recent low | Investment and Financing Weekly Report

According to incomplete statistics from ChainCatcher, between May 31 and June 6, there were a total of 22 public financing events in the blockchain industry, marking the week with the fewest financing occurrences in recent months. The three projects with the largest financing amounts during this period were Circle, the issuer of USDC, the crypto derivatives project Hxro, and the decentralized content publishing platform Mirror. Among them, Circle completed a $440 million financing at a valuation of $4 billion, making it the largest financing case of the week. In terms of investment institutions, Alameda Capital and Genesis Block Ventures were the most active.

1. D eFi

1. The Solana-based crypto index protocol Symmetry completes its first round of financing, led by Alameda Research

On June 1, the decentralized crypto index protocol Symmetry, based on the Solana blockchain, announced the completion of its first round of financing, led by Alameda Research, with participation from Coin98 Ventures, Genesis Block Ventures, Rarestone Capital, ROK Capital, and others.

2. The private asset data oracle protocol Lithium Finance completes $5 million financing, led by Pantera and Hashed

On June 1, the private asset data oracle protocol Lithium Finance completed a $5 million financing, led by Pantera Capital and the South Korean blockchain venture capital firm Hashed, with participation from Alameda Research, Huobi Ventures Blockchain Fund, OKEx Blockdream Ventures, NGC Ventures, LongHash Ventures, and Genesis Block Ventures. The funds will be used to transform the DMI theoretical principles of the protocol into practical blockchain applications.

Lithium Finance is an oracle protocol that provides price feeds for illiquid assets such as pre-IPO stock prices and private equity prices for DeFi protocols, achieving pricing accuracy by incentivizing correct quotes and penalizing incorrect ones.

3. The synthetic asset protocol ARCx completes a new round of $1.3 million financing and launches " DeFi Passport "

On June 2, the synthetic asset protocol ARCx announced the completion of $1.3 million in financing, led by Dragonfly Capital, Scalar Capital, and Ledger Prime, through the purchase of the protocol's governance token ARCX. ARCx stated that the investors in this round purchased pre-split ARCX tokens at a price of $7,500 (equivalent to $0.75 for the post-split tokens), with a lock-up period of 6 months and monthly unlocks. To date, ARCx has raised over $8 million in total funding.

ARCx also announced the v3 version of its product, planning to launch the "DeFi Passport," which quantifies the credibility of each DeFi Passport holder's on-chain address based on their credit score. The credit score will be determined by analyzing the historical activities of the holder's Ethereum address, with a range set from 0 to 999. This credit score determines the collateralization ratio the protocol offers to users. In the future, ARCx plans to add more evaluation scores and pages to the DeFi Passport and integrate with other DeFi protocols to provide products based on DeFi credibility, such as lending and liquidity mining.

4. The Solana-based crypto derivatives company Hxro completes $15 million financing, with Commonwealth Asset Management participating

On June 2, the crypto derivatives company Hxro completed $15 million in financing, with hedge fund manager Commonwealth Asset Management as the exclusive participant.

It is reported that Hxro Network is a decentralized protocol built on Solana, providing permissionless liquidity access to the options market.

5. The Solana ecosystem DeFi platform Apricot Finance completes $800,000 seed round financing

On June 3, the Solana ecosystem DeFi platform Apricot Finance announced the completion of $800,000 in seed round financing, with investors including NGC Ventures, DFG, CMS Holdings, Genblock Capital, CryptoJ, Coinsights Ventures, Double Peak Group, and Chris McCann from Race Capital, one of the early seed investors in Solana and FTX. The funds will be used to provide a robust and sustainable solution for the accumulated bad loans on the lending platform.

Apricot Finance is a DeFi solution built on the Solana network, providing users with over-collateralized loan services. Its launched "Apricot Lend" is a low liquidation penalty and highly predictable collateral loan protocol, along with the 2-hour liquidation guarantee "Apricot Rescue," which provides assurance for borrowers to liquidate positions in a short time.

6. The risk management platform Sherlock secures $1.5 million financing, led by IDEO CoLab Ventures

On June 3, the risk management platform Sherlock secured $1.5 million in Pre-Seed round financing, led by IDEO CoLab Ventures, with participation from A Capital, Scalar Capital, and DeFi Alliance. Angel investors include Primitive founder Alex Angel, Aave risk control head Alex Bertomeu-Gilles, operations head Chris Spadafora, DODO co-founder Diane Dai, UMA co-founder Hart Lambur, and Synthetix co-founder Jordan Momtazi.

Sherlock is a risk management platform and insurance protocol that allows third-party DeFi protocols to pay a small fee for insurance services, receiving compensation when the protocol is attacked. Additionally, ordinary users can also manage risks and obtain insurance services through staking.

7. The crypto credit rating company Credmark raises $5.5 million to establish a decentralized risk model platform

On June 3, the crypto credit rating company Credmark secured $5.5 million in investment from Solidity Ventures, Genesis Block Ventures, Spark Digital Capital, and others, to collaborate with API3 oracles to launch a decentralized risk model platform that will analyze on-chain data and rate the risks of DeFi protocols.

Credmark's Chief Strategy Officer Momin Ahmad stated that the first model will be built around Uniswap V3 liquidity pools, and in the future, users will be allowed to submit their own risk models. Once the platform matures, it will provide the risk model calculation results to any protocol that needs that data.

8. The DeFi incubator Impossible Finance raises over $7 million

On June 4, the DeFi incubator Impossible Finance raised over $7 million, which will be used to build a DeFi incubator, launchpad, and trading platform. This round was led by True Ventures, CMS Holdings, Alameda Research, and Hashed, with other participants including Sino Global Capital, IOSG Ventures, Divergence, GBV, Primitive, Incuba Alpha, Longhash Ventures, Bitscale, and a total of 125 institutions and individuals participating in this round of financing.

Impossible stated that it plans to support EVM chains such as Ethereum and Polygon in the future and aims to deploy on Layer 2 and other platforms.

9. The new stablecoin ecosystem Mars Ecosystem raises $2 million

On June 5, the new stablecoin ecosystem Mars Ecosystem raised $2 million, with investment institutions including Continue Capital, Parallel Ventures, Kernel Ventures, YBB Foundation, Mayor Capital, 7Star Capital, and Bella Foundation. Mars Ecosystem will use this round of financing to expand its global market, attract talent, and continue to develop in the decentralized stablecoin field.

Mars Ecosystem aims to address issues such as price instability, low capital utilization efficiency, weak scalability, and excessive centralization currently present in stablecoin protocols by integrating the creation and use of stablecoins into one system.

2. N FT\& Blockchain Games

1. The Solana-based NFT social platform Only1 secures funding led by Liquefy Labs

On May 29, the NFT social platform Only1, based on the Solana blockchain, announced that it had secured funding led by the investment institution Liquefy incubator Liquefy Labs. Additionally, Liquefy Labs has become a project advisor for Only1. Alameda Research, Genesis Block Venture, NGC, PetRock Capital, DuckDAO, and others participated, but Only1 has not disclosed the specific financing amount.

Only1 combines social media, NFT markets, scalable blockchain, and its native token LIKE, aiming to connect fans and creators, with features including minting genesis NFTs and bidding for Star NFTs using LIKE.

2. The Polkadot ecosystem NFT infrastructure RMRK raises $6 million

On June 3, the Polkadot ecosystem NFT infrastructure RMRK raised $6 million, with investors including D1 Ventures, YBB, PAKA, LD Capital, Signum Capital, and Carbon Blue. This round of financing will be used to establish cross-chain NFT infrastructure standards within the Polkadot and Kusama ecosystems.

RMRK is an NFT infrastructure project within the Polkadot ecosystem, possessing its own set of standards aimed at becoming the NFT standard infrastructure for the Polkadot ecosystem. RMRK empowers parachains with its technology and standards and has established partnerships with Khala, Zeitgeist, Unique Network, Moonbeam, Litentry, and Bit.country.

3. Chronicle raises $320 million to create an NFT marketplace, led by 4SV

On June 3, Chronicle raised $320 million to create a digital collectibles NFT marketplace, which is planned to launch this summer, and is hiring professionals to complete this work. It will also use the funds to develop its own platform, establish an in-house studio for digital collectibles, and expand its international influence.

Chronicle aims to enter markets such as film and television, animation, art and culture, music, gaming, celebrities, and fashion. Participants in this investment include 4SV, AU21 Capital, Aussie Capital, Bella Protocol, Blocksync Ventures, DAO Maker, GBV Capital, GravityX Capital, Legos Capital, Magnus Capital, Moonwhale Ventures, Pluto Digital Assets, Three M Capital, Twin Apex Capital, VBC Group, Vysyn Capital, X21 Digital, and 499+Block.

4. The NFT company focused on data privacy, Snickerdoodle Labs, completes $2.3 million seed round financing

On June 5, according to The Block, the NFT startup Snickerdoodle Labs, focused on data privacy and security, completed a $2.3 million seed round financing led by Kenetic, with participation from Blockchain Capital, Struck Ventures, Zilliqa Capital, FTX, FTX founder Sam Bankman-Fried, Tribe Capital, and Zinal Growth.

Snickerdoodle Labs was co-founded by Jonathan Padilla, former blockchain strategy head at PayPal, with advisors including Sam Bankman-Fried and PayPal innovation head Mike Todasco. Snickerdoodle Labs aims to use NFT technology to build a data economy that protects user data privacy and distributes value to all stakeholders, including data owners. Currently, the company is building infrastructure that allows users to own their data and monetize it securely. Additionally, Snickerdoodle Labs plans to conduct a token issuance this summer.

3. Others

1. The US dollar stablecoin USDC issuer Circle completes $440 million financing, possibly going public via SPAC

On May 29, Circle, the issuer of the US dollar stablecoin USDC, announced the completion of $440 million in financing, which may lead to a public listing via a SPAC (Special Purpose Acquisition Company) after the financing, targeting a valuation of $4 billion. This financing included participation from Fidelity, FTX, Digital Currency Group, Marshall Wace, Valor Capital Group, Pillar VC, and others.

Circle is a global financial technology company that enables businesses of all sizes to leverage the power of stablecoins and public blockchains for payments, commerce, and financial applications worldwide. Circle's platform has supported over 100 million transactions for more than 10 million retail customers and over 1,000 businesses. Circle is also the issuer of the US dollar stablecoin USDC, which now has a market capitalization of over $22 billion and has supported over $61.5 billion in transactions in the past year.

2. The decentralized middleware protocol Automata Network completes $2.4 million strategic round financing

On June 1, the decentralized middleware protocol Automata Network completed $2.4 million in strategic round financing, with participants including KR1, IOSG Ventures, and Jump Trading.

Automata Network is a decentralized middleware protocol that provides seamless privacy services for DApps on Ethereum and Polkadot, enabling privacy, precision, and frictionless computation.

3. The decentralized content publishing platform Mirror receives investment from venture capital firm USV, valuing it at $100 million

On June 2, venture capital firm Union Square Ventures (USV) invested in the decentralized content publishing platform Mirror, valuing it at $100 million. According to insiders, Mirror recently completed two rounds of seed financing, raising over $10 million, with investors including USV and Andreessen Horowitz.

Mirror was founded by former Andreessen Horowitz crypto partner Denis Nazarov and is similar to Medium, helping creators crowdfund by providing token issuance tools. Creators have already completed crowdfunding on the platform, such as writer Emily Segal raising 25 ETH for her upcoming novel "Burn Alpha" using Mirror.

4. The zk-Rollup-based Layer 2 privacy protocol Zecrey completes $1.5 million seed round financing

On June 2, the zk-Rollup-based Layer 2 privacy protocol Zecrey completed $1.5 million in seed round financing, with participants including Loopring, SevenX Ventures, Bybit, Cypherpunk Guild, and Illia Polosukhin (co-founder of NEAR).

Zecrey is a universal privacy protocol capable of providing high-performance, low-cost privacy solutions for digital assets across public chain ecosystems such as Ethereum, NEAR, Solana, and BSC, and can help users achieve privacy swaps between digital assets on different public chains.

5. The on-chain non-profit charity organization Endaoment completes $2.5 million seed round financing, led by Framework Ventures

On June 2, the on-chain non-profit charity organization Endaoment completed $2.5 million in seed round financing, led by Framework Ventures, with participation from Distributed Global, Tony Sheng, Jayson Hobby, 0age, Ben Rubin, and others.

Endaoment was incubated by Framework Labs, a sister company of Framework Ventures, in 2020. It is built on Ethereum and registered in the United States as a non-profit organization capable of distributing charitable donations, with its on-chain smart contracts audited by the Ethereum smart contract security auditing firm OpenZeppelin.

6. The Polkadot-based perpetual decentralized storage solution development team Subspace Labs completes $4.5 million seed round financing

On June 3, the development team Subspace Labs, based on the Polkadot ecosystem, completed $4.5 million in seed round financing. This round was co-led by Hypersphere Ventures and Stratos Technologies, with other participating institutions including Consensys Mesh, IOSG Ventures, Block Dream Fund, NGC, Cabin VC, and DefinanceX.

Subspace can provide incentive-compatible Proof-of-Capacity (PoC) consensus algorithms and scalable, perpetual decentralized storage for Polkadot network development. Subspace has implemented a hard disk-based consensus algorithm while addressing the centralization trend issues of PoW and PoS networks.

7. The blockchain advertising technology support platform JAMBO NETWORK completes $2 million institutional round financing, with strategic investment from HOO VENTURES

On June 3, the blockchain advertising technology support platform JAMBO NETWORK completed $2 million in institutional round financing, with strategic investment from HOO VENTURES. The currently disclosed investment institution also includes SILICON VENTURES.

JAMBO is a blockchain advertising technology support platform based on the Polkadot ecosystem, aiming to achieve value interoperability across different advertising industry chains through Polkadot's heterogeneous multi-chain architecture, committed to realizing a transparent and trustworthy decentralized advertising industry value ecosystem.

8. The Polkadot-based DApp framework protocol Pontem raises $4.5 million, led by Mechanism Capital and Kenetic Capital

On June 4, the Polkadot-based DApp framework protocol Pontem raised $4.5 million, led by Mechanism Capital and Kenetic Capital, with participation from Alameda Ventures, NGC Ventures, Genesis Block Ventures, CMS Holdings, AU21 Capital, and others.

Pontem is a DApp framework based on Polkadot, designed to establish interoperability between DApps built on public chains such as Ethereum, Polkadot, and EOS with Facebook's digital currency project Diem. Currently, the Pontem Network testnet is already in use, and plans to initiate Polkadot parachain development in the coming months.

9. The decentralized information analysis platform DeepDAO completes $3 million financing, led by LD Capital and YBB

On June 4, the decentralized information analysis platform DeepDAO announced the completion of $3 million in financing, with the seed round led by Hypersphere and DFG, and the pre-seed round led by LD Capital and YBB Foundation. DeepDAO stated that other participants included Moonwhale Ventures, Morningstar Ventures, SevenX Ventures, AU21 Capital, Incuba Alpha, and others. The funds will be used to expand data coverage and improve user experience.

DeepDAO aims to provide comprehensive information analysis content for decentralized governance systems, covering financial and governance data for over 100 DAOs, and is continuously expanding the coverage of DAOs and quantifying and measuring dynamic indicators of governance processes within DAOs.