Samara Asset Group essential investments into crypto assets and blockchain companies.

Samara Asset Group

Transform Capital is a private alternative investment firm that funds people with ideas which challenge the status quo

Transform Capital

MarketAcross is a public relations and marketing media group for startups and established businesses that work in the FinTech and Blockchain industries. The company offers complete end-to-end marketing solutions for blockchain projects and works with numerous startups and leading businesses on boosting their online visibility, reach, and demand through publicity, strategic consulting, and community engagement. MarketAcross was established in 2013 and is headquartered in Ramat Gan, Tel Aviv.

MarketAcross

CMS is a principal investment company that focuses on investing in the crypto-asset ecosystem. The firm plans to invest in both liquid and illiquid crypto tokens, as well as equity interests in select businesses.

CMS Holdings

Mapleblock Capital is an investment firm that exclusively consults and invests in crypto-assets and blockchain companies. It was founded in 2017 and is headquartered in Delhi, India.

Mapleblock Capital

Kyros Ventures is a conglomerate of the largest and most influential entities in the Vietnamese Blockchain industry. In order to increase our effectiveness, we have decided to merge our entities to offer a full, comprehensive package. Collectively, we are responsible for more than 100,000 active Cryptocurrency investors and traders. We believe in a results orientated approach with our goal to spread mass awareness and adoption of your project.

Kyros Ventures

GBV Capital is dedicated to invest, develop, and the support blockchain and crypto projects to build our future

GBV Capital

MVST:MG provides capital and additional supporting services. We act as a mega angel investor, focusing on advanced technologies in the fields of artificial intelligence, robotics, augmented reality, virtual reality, ad-tech, fintech and other industry-leading technologies in various areas.

MVST:MG

incubation of fintech and blockchain-based start-ups, including big data, artificial intelligence, internet of things and new energies.

Candaq Fintech Group

MH Ventures is a founder-focused, early-stage venture fund dedicated to the growth of the Web3 ecosystem.

MH Ventures

Gossamer is an early stage venture capital firm investing in startups that are building the future of dApps, DeFi, NFTs and the Metaverse.

Gossamer Capital

Trust Machines is building an ecosystem of applications and platform technologies aimed at unleashing the true potential of bitcoin.

Trust Machines

Cogitent Ventures operates as a venture capital firm.

Cogitent Ventures

Cypher Capital is a web3 and blockchain venture capital investment firm.

Cypher Capital

Comma3 Ventures is funds for founders that is looking for disruptive innovation entrepreneurs in Web3.

Comma3 Ventures

Optic Capital

Bitcoin Startup Lab is the Pre-accelerator on Web3 Bitcoin.

Bitcoin Startup Lab

Rocinante Research is a dynamic quantitative trading firm that concentrates on cryptocurrency markets.

Rocinante Research

Banter Capital is a corporate venture capital firm.

Banter Capital

Centauri Digital Assets' mission is to dramatically speed Web3's journey and specialize in incubation, acceleration, advising, scaling, and strategic marketing.

Centauri Digital Asset Group

Block Builders is a blockchain fund for builders.

Block Builders

Black Edge Capital was a venture capital firm.

Black Edge Capital

VELAR

VELAR is a Multi-Feature DeFi App with Bitcoin Finality.

Velar offers a perpetual swap exchange built on a Bitcoin-based layer 2 blockchain platform. It leverages technology from the Stacks foundation, a Bitcoin R&amp;D organization, to give users access to a synthetic Bitcoin asset pegged to the value of BTC named sBTC. Users can use sBTC as collateral and trade with leverage as well as earn rewards by providing liquidity to asset pools.

Disrupting the traditional financial system using blockchain

Decentralized Finance (DeFi)

The Velar theme looks great with both dark and light mode on iPhones

Velar offers a perpetual swap exchange built on a Bitcoin-based layer 2 blockchain platform. It leverages technology from the Stacks foundation, a Bitcoin R&amp;D organization, to give users access to a synthetic Bitcoin asset pegged to the value of BTC named sBTC. Users can use sBTC as collateral and trade with leverage as well as earn rewards by providing liquidity to asset pools.The company announced plans to launch its first perpetual swaps exchange, Artha, in Q2 2024. In March 2024, Velar<a href="https://sp-edge.com/updates/27755"> launched a Bitcoin-based automated market making (AMM) protoco</a>l called Dharma. Hosted on the company’s Bitcoin layer-2 stacks, the solution will enable token pairs to be traded fully on-chain, and provide users with tools for liquidity provision, trading, and asset management. The protocol provides support for the STX-ABTC and STX-AEUSDC token pairs, with plans for additional tokens scheduled to be added in the future.Key customers and partnershipsIn May 2024, Velar <a href="https://sp-edge.com/updates/29564">partnered with Bitlayer</a>, a Bitcoin layer 2 network, to support the launch of Velar Artha. The partnership enabled Velar to leverage BitVM, Bitlayer's Ethereum Virtual Machine-compatible blockchain infrastructure, as a foundation for Artha’s smart contracts on the Bitcoin blockchain. Moreover, the protocol also plans to integrate Bitlayer’s dual-channel cross-chain bridge to allow users to securely access DeFi applications.Funding and financialsIn February 2024, Velar <a href="https://sp-edge.com/updates/26229">secured USD 3.5 million</a> in new funding from Bitcoin Startup Lab, CMS Holdings, Black Edge Capital, GBV, and Cypher Capital, among several others.

MakerDAO is a DAO (governed through the MKR token) that manages the Sky protocol (formerly known as Maker).&nbsp;Developed on the Ethereum blockchain, the protocol allows users to place their funds (through cryptocurrency) as collateral in exchange for its stablecoin DAI, which is pegged to the USD. DAI can be used like any other cryptocurrency and even as savings since holders of DAI are entitled to a return based on the DAI Savings Rate (DSR). The DSR is determined by members of the DAO using a mix of public and proprietary market data.Sky offers access to investing and borrowing DAI through the Oasis app which was developed by some of the creators of protocol. In addition, the protocol is available for developers of DeFi apps who can build apps to facilitate earning, investing, and borrowing DAI. As of May 2024, Sky had integrated with over 400 applications ranging from payment systems to gaming platforms. It generates revenue through stability fees (akin to interest payment on borrowed DAI) and liquidation fees which is an additional charge that occurs when the value of the submitted collateral falls below a set liquidation amount.&nbsp;In April 2022, the protocol announced that it was bridging to StarkNet, a reportedly cheaper and faster zero-knowledge (ZK) overlay chain built by StarkWare. Along with its expansion on Ethereum, the DAO had planned to move toward a multi-chain offering with this rebuild. It planned to roll out this offering in four phases, beginning with a simple bridge between the main blockchain and StarkNet’s Layer 2.&nbsp;In February 2023, the company <a href="https://sp-edge.com/updates/16269?industryIds=64">launched a new lending platform</a> named Spark Protocol, to enable users to borrow, lend, and stake DAI, the protocol’s stablecoin. The platform, which is a fork of Aave's version 3 (v3), will be built by Phoenix Labs, a research and development company formed by the DAO. Additionally, the company also announced the deployment of etherDAI, a liquid staking derivative for Ethereum that will be pegged to the value of ETH. Furthermore, in March, the protocol went on to<a href="https://sp-edge.com/updates/17322"> approve several new proposals </a>that make changes to both its governance structure and the investment of its treasury. These changes divide the DAO’s current structure into smaller self-governed and self-sustained units named SubDAOs, which will also have their own tokens in the MakerDAO ecosystem. Moreover, the proposal also planned to increase the protocol’s revenues by investing a part of its reserves (worth USD 7 billion) into real-world assets and money-market funds.&nbsp;The platform outlined its plans for a major update (named Endgame) in May 2023. The launch was proposed to take place in five phases and will ultimately lead to the creation of a new blockchain. The road map is as follows: 1) launching new branding and website as well as upgraded versions of Dai and MKR tokens; 2) launching six Maker SubDAOs, specializing in user acquisition, decentralized frontends, and collateral allocation; 3) introducing new AI tools to assist governance, including tools for summarizing, interpreting, and generating governance proposals; 4) enabling rewards for governance participation; and 5) deploying a new blockchain to house backend logic for SubDAO tokenomics and governance security. The first phase of the update is expected to be rolled out in the summer of 2024.&nbsp;In August 2024, the protocol followed through with the first phase of its plans by <a href="https://sp-edge.com/updates/32993">rebranding itself under the new name "Sky"</a>, and launching new versions of DAI and MKR tokens named the USDS and SKY.&nbsp;Key customers and partnershipsIn September 2024, Sky<a href="https://sp-edge.com/updates/33252"> partnered with Aave Labs</a>, to launch the “Sky Aave Force” initiative. The initiative featured key proposals such as integrating the newly launched USDS and sUSDS stablecoins on Aave’s V3 protocol, introducing an incentive program for sUSDS suppliers and deploying a direct deposit module for USDS into the Aave Lido Market. Additionally, the partnership will enable the companies to distribute SPK tokens, the native token of Sky’s lending protocol Spark, to create a market for sUSDS on Aave. Collectively, these initiatives enable users to earn yields on their sUSDS deposits from the revenues generated by Sky’s protocol and mint USDS directly on Aave without meeting the usual collateral requirements.

MakerDAO

Founded by former executives of Qualcomm, Solana Labs is the developer of the Solana blockchain, which uses the native cryptocurrency SOL. The company enables developers to create decentralized applications in its blockchain and is capable of carrying out 50,000 transactions per second (TPS) with a theoretical upper limit of 710,000 TPS for the architecture. As of May 2024, the blockchain averaged around 2,400 TPS. This is in contrast to Ethereum’s average of between 13 to 15 TPS. In addition to transaction speed, Solana also has other advantages such as lower transaction fees and improved scalability, given its proof-of-stake consensus mechanism and underlying architecture. The mechanism also enables users to stake their SOL and earn yields for validating the network. Solana provides the ability to create specialized tooling and programming functionality to tokens through <a href="https://sp-edge.com/updates/25910">Token Extensions</a>. This allows developers and businesses to establish rules for tokens, such as dictating their functionality and determining their holders, as well as embed features like whitelisting, automatic transfer fees, and confidentiality provisions for transfers.Solana also provides guides and a content aggregator website for developers to discover tools to create dApps on its blockchain. As of May 2024, more than 440 dApps were created on Solana, ranging across use cases such as DeFi, NFTs, and gaming. It also <a href="https://sp-edge.com/updates/18094">launched a ChatGPT </a>(a chatbot built on OpenAI's GPT model) plugin to allow developers and users to query the blockchain for on-chain data. The plugin works through the ChatGPT interface and allows users to perform various tasks such as checking wallet balances, transferring tokens, and purchasing NFTs.Key customers and partnershipsWeb browser developer Opera partnered with Solana in December 2021 to integrate the blockchain and create a built-in crypto wallet onto the Opera browser to improve accessibility to dApps hosted on the blockchain.As of May 2024, the company served several enterprise clients such as Shopify, Asics, Helio, and Tiplink.Funding and financialsThe total value locked (TVL) in DeFi projects across the Solana blockchain amounted to USD 4 billion as of May 2024. The company raised USD 314 million through an initial coin offering (ICO) of SOL. The ICO was co-led by Polychain Capital and Andreessen Horowitz. The funding was to be used to create a venture investing arm, a trading desk, and support the development of new applications in its blockchain.

Solana

Swiss-based Eidoo is a developer of a wallet that supports cryptocurrencies such as Bitcoin and Ethereum, along with tokens such as DAI, MKR, AAVE, and UNI, among others. In addition, Eidoo provides a DeFi marketplace that integrates with its wallet, allowing users to trade any tokens that they hold. Eidoo also offers a debit card that allows the conversion of digital assets into fiat currencies, such as the GBP and EURO, and spending or even withdrawing cash from ATMs.Eidoo began with the proprietary token EDO, which it also used to raise USD 27.9 million in an initial coin offering (ICO) in 2017. The token was then upgraded following its merger with blockchain oracle provider Provable Things to establish pNetwork, the infrastructure that facilitates cross-chain interactions between multiple decentralized apps, governed by the token PNT. To obtain an Eidoo debit card, users are required to stake PNT ranging from 20 to 200,000 for various service tiers.Eidoo had several applications such as virtual account numbers to deposit money and obtain a tokenized representation of their deposit as well as features to buy, hold, and trade NFTs in the roadmap as of December 2021.

Eidoo

Synthetix is a DAO (governed by holders of its native token SNX) that offers a platform on which users can trade and vote on the creation of on-chain synthetic assets, which are derivatives based on real-world assets. These synthetic assets enable traders to capture the price movements of assets such as cryptocurrencies, fiat currencies, stocks, and commodities, among others, with zero slippage. The protocol allows users to stake SNX as collateral for the debt pool and earn weekly rewards. As of April 2022, Synthetix had USD 642 million in total value locked (TVL).Additionally, Synthetix also offers the opportunity for developers to build on top of the platform to tap into its liquidity as well as develop decentralized perpetual futures, options markets, deal coordination markets, and more. As of December 2021, the protocol served large DeFi platforms including 1inch, Curve Finance, Yearn Finance, and Paraswap.In February 2023, Synthetix <a href="https://sp-edge.com/updates/16609?industryIds=64">deployed version 3 (v3) of its platform </a>on the Ethereum mainnet. V3 reportedly offers more efficient architecture that enables developers to create products that offer a liquid market for any financial derivative, as well as more complex decentralized applications. Additionally, the solution also offers staking and differentiated debt pools, to enable stakers to earn fees from supplying collateral to specific asset pools. The company went on to deploy its protocol on Base, an Ethereum Layer-2 blockchain developed by Coinbase, in April 2024. Moreover, the company announced plans to launch a new perpetual futures exchange named Infinex in the following months.Funding and financialsIn March 2023, Synthetix <a href="https://sp-edge.com/updates/17267">received an investment of USD 20 million </a>from DWF Labs, a Web3 venture capital company. Synthetix plans to use this investment to drive volume for its protocol across both centralized and decentralized exchanges and invest in product development.

Synthetix

Compound is an open-source lending protocol built on Ethereum that allows developers to build DeFi applications for functions such as deposits and lending. Compound offers adjusted money market interest rates based on asset-specific supply and demand and supports a number of Ethereum-based assets for users to take collateralized loans and lock-up assets without borrowing. Locked assets are automatically liquidated if an independent oracle determines that the price has dropped too low. Additionally, since assets are stored in a shared pool, even users with liquidated collateral can claim tokens if they are able to repay the general pool. Compound also <a href="https://sp-edge.com/updates/13038">offers borrowing services</a> for institutional clients that allow them to borrow USD or USDC at a fixed annual percentage rate of 6% using cryptocurrencies such as Bitcoin or Ether as collateral, with a loan-to-value of 90%.As of April 2024, Compound had a total value locked (TVL) of USD 2.3 billion. The protocol is governed by its native-token COMP, which along with a variety of other digital assets that are a part of the Compound ecosystem, are supported by Coinbase Custody, a crypto asset custodian. In August 2022, Compound launched a version of its protocol named “Compound III” which features a single borrowable asset. Users can supply collateral that can never be withdrawn by other users (except during liquidation) and borrow USDC.In May 2022, Compound<a href="https://sp-edge.com/updates/10267"> received a B- credit rating from S&amp;P Global Ratings</a> on its enterprise credit facility which offers 4% annually on deposits of the stablecoin USDC. Notably, Compound claims that this is the first time an "institutional DeFi" product has been scored by a major credit rating agency.Funding and financialsCompound’s last funding round was in November 2019 where it raised USD 25 million in a Series A led by Andreessen Horowitz’s a16z crypto fund to help the company further decentralize the protocol by enabling crypto exchanges and custodians such as Coinbase to maintain the protocol going forward.

Compound

Organizations and protocols that allow individuals to lend their crypto assets and take out collateralized or uncollateralized loans from to/from these projects

Organizations that allow individuals to invest in tokenized financial and real assets

Organizations that provide fully decentralized insurance products

Organizations that apply NFTs across areas of finance such as documentation and non-fractionalized ownership records for assets

Decentralized exchanges that help connect buyers and sellers of DeFi tokens without the need to rely on an intermediary

Organizations that provide digital wallets for users to take custody of DeFi tokens

Blockchains and related protocols that allow developers to build DeFi apps

All companies within this industry are either blockchain-based platforms or offer blockchain-centric services

Promotes financial inclusivity, allowing those that won't traditionally have access to credit to raise funds

Companies with the infrastructure segment offer solutions for users to build decentralized applications

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 Velar, a decentralized exchange (DEX) platform, announced its partnership with Bitlayer, a Bitcoin layer-2 network. This collaboration supports the launch of Velar's Bitcoin-based perpetual decentralized exchange (Perp DEX), Velar Artha. 
 Through this partnership, Velar gains access to BitVM, Bitlayer's Ethereum Virtual Machine-compatible blockchain infrastructure, thus laying the groundwork for Artha’s smart contracts on the Bitcoin blockchain. Furthermore, the protocol has plans to incorporate Bitlayer’s dual-channel cross-chain bridge, bolstering user access to secure DeFi applications. 
 
</div> Analyst Quicktake : 
 Velar has been making significant strides in the development of its flagship perpetual exchange platform, Artha, since it secured <a href="https: 
//sp-edge.com/updates/26229"> USD 3.5 million </a> in new funding in February. These include partnerships with <a href="https: 
//sp-edge.com/companies/1254763"> Stacks </a> to <a href="https: 
//sp-edge.com/updates/27755"> launch Dharma </a> , a Bitcoin-based automated market-making (AMM) protocol, and <a href="https: 
//sp-edge.com/companies/606656"> Portal </a> to <a href="https: 
//blog.velar.co/velar-partners-with-portal"> enable staking and increased trading liquidity </a> for its native VELAR token. This partnership represents a significant step in Artha's development roadmap, scheduled to be launched to the public in Q2 2024.

VELAR

EDGE Insights

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless