Established in 2014, Outlier Ventures is one of the first VC firms dedicated to investing in the emerging crypto ecosystem. Since launching its Base Camp accelerator in 2019, Outlier Ventures has received over 5,000 applications for its highly sought after virtual accelerator and has helped raise over $350 million in seed funding for its growing portfolio of 220+ high-profile projects from across the world, such as Crucible and Biconomy. In addition, Outlier Ventures has supported the launch and growth of several billion-dollar crypto economies including Fetch.ai, Boson Protocol, Secret Network, Blox Move, Swash and DIA Data. Their portfolio includes notable projects across DeFi, NFTs and blockchain infrastructure with a focus on emergent Metaverse use cases such as NFT-based digital couture fashion brands, avatar marketplaces, decentralized music publishing platforms, play-to-earn games, augmented reality social positioning protocols, and more. Outlier Ventures has expanded its Base Camp program to partner with leading protocols such as Aptos, Filecoin / IPFS, Polygon, and Polkadot along with FARFETCH, to host dedicated accelerator programs for these Web3 ecosystems along with Ascent, Outlier Ventures’ advisory offering targeted at later stage teams. Through its blockchain agnostic approach, Outlier Ventures has achieved record growth, doubled its cohort intake year after year, and is on target to accelerate well over 100 startups in 2022, making it one of the most active investors in the space by deal volume and the most active Web3 accelerator globally and top 3 crypto investor globally by volume of investment. Since its inception, Outlier Ventures has always viewed its portfolio as an open stack of technologies that contribute to a new web paradigm, referred to as Web3, based on principles that prioritize the sovereignty of the user, their data and digital wealth, over platform and shareholder supremacy. In January of 2021, Outlier Ventures published its thesis on the imminent arrival of the Metaverse, outlining how Web3 would serve as an operating system for an Open Metaverse.

Outlier Ventures

IOTA Foundation

The IOTA Foundation is the Next-Generation Blockchain and was initiated with a very clear and focused vision of enabling the paradigm shift of the Internet of Things, Industry 4.0 and a trustless ‘On Demand Economy’ through establishing a de facto standardized ‘Ledger of Everything'. It aims to enable all connected devices through verification of truth and transactional settlements which incentivize devices to make available its properties and data in real time. The IOTA Foundation is based in Berlin, Germany.

IOTA is a distributed ledger technology built on a proprietary architecture called the Tangle, which is based on a directed acyclic graph (DAG) rather than a traditional blockchain. The Tangle was designed to address the scalability and transaction fee issues associated with blockchain-based cryptocurrencies, making it particularly well-suited for the internet of Things (IoT) ecosystem.

An overview of IOTA

What Is IOTA? How Does It Work?

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Cryptocurrencies

IOTA Foundation is a non-profit organization that has created IOTA, a trust layer protocol designed for IoT. It provides an open, feeless, and scalable distributed ledger technology (DLT) known as the “Tangle.” IOTA transactions validate two other transactions, removing the need for miners and enabling zero-fee transactions. This makes it an ideal solution for microtransactions, which are crucial for IoT applications.

Bringing the benefits of blockchain to the enterprise

Enterprise Blockchain Solutions

IOTA is a trust layer protocol designed for IoT, which provides an open, feeless, and scalable distributed ledger technology (DLT) known as the “Tangle.” IOTA transactions validate two other transactions, removing the need for miners and enabling zero-fee transactions.&nbsp;

Disrupting the traditional financial system using blockchain

Decentralized Finance (DeFi)

IOTA

IOTA Foundation proposes protocol update 'IOTA Rebased'.. IOTA Foundation.. product 

Dell

Dell Technologies has partnered with IOTA to bring sustainable energy uses to digital cities through an ISS-enabled infrastructure. The solution will deliver cost-effective paths for effective traffic management as well as improved citizen safety.

Information to create a more efficient, cleaner and safer way to travel in the city of the future

Smart Mobility Information

Startups offering management platforms to monitor, analyze, and automate traffic control

IOTA and DNB ASA announced a partnership to explore implementing IOTA's "Tangle" technology. This partnership originated in 2018.

Providing AI-driven market intelligence and workflow automation to give firms an edge

Capital Markets Tech

Companies that use blockchain technology to share and synchronize data and improve efficiency across the trading workflow and post-trade actions such as clearing and settlement.

IOTA and DNB ASA announced a partnership to explore implementing IOTA's "Tangle" technology.

Microsoft

To launch the first publicly  accessible cryptocurrency market for the Internet of Things.

IOTA is a distributed ledger technology built on a proprietary architecture called the Tangle, which is based on a directed acyclic graph (DAG) rather than a traditional blockchain. The Tangle was designed to address the scalability and transaction fee issues associated with blockchain-based cryptocurrencies, making it particularly well-suited for the internet of Things (IoT) ecosystem.
Unlike traditional blockchain networks that rely on miners to validate transactions, the IOTA network uses a unique system where each new transaction must confirm two previous transactions. This approach eliminates the need for mining and associated transaction fees, enabling feeless and potentially infinitely scalable microtransactions between devices on the network.
IOTA's native cryptocurrency, MIOTA, has a fixed supply of 2,779,530,283 tokens, which were all created and distributed during the project's initial launch in 2016. The IOTA Foundation, a non-profit organization based in Germany, oversees the development and adoption of the IOTA protocol, collaborating with academic institutions, corporations, and other blockchain projects to drive innovation and continuously improve the technology.
As of April 2023, IOTA has a market capitalization of around USD 706 million, with MIOTA trading at approximately USD 0.25.

ProsperUs is a digital investment service that provides access to a wide range of asset classes and global markets through a single account. It enables investors to trade stocks, bonds, exchange-traded funds (ETFs), mutual funds, options, forex, contracts for difference (CFDs), and futures across 30 exchanges in 25 countries. ProsperUs offers a comprehensive multi-asset platform, catering to both entry-level and sophisticated investors.
The platform features two interfaces: Build, designed for long-term investing with a user-friendly interface for searching and filtering investment ideas, and Boost, a more advanced interface tailored for active trading and charting. ProsperUs is regulated by the Monetary Authority of Singapore (MAS) and employs strict measures to safeguard users' funds and assets, which are held in a separate trust account from the company's business assets.
In March 2021, ProsperUs launched a sign-up promotion, offering new customers electronic tokens worth up to USD 880 to offset trading fees based on their initial funding amount. The platform aims to attract 10,000 investors within the first 12 months of its launch.

ProsperUS

Quant is a blockchain operating system that enables interoperability between different blockchains and legacy systems. Its core technology, Overledger, acts as a gateway, allowing communication and data exchange among various blockchain networks, such as Bitcoin, Ethereum, and Ripple. Quant's platform facilitates the creation of multi-chain decentralized applications (mDApps) that can operate across multiple blockchains simultaneously.
Overledger operates through four layers: the Transaction Layer handles transaction storage and consensus across blockchain domains, the Messaging Layer processes data from ledgers, the Filtering and Ordering Layer validates messages and establishes connections, and the Application Layer governs communication rules. This architecture enables developers to build applications that can leverage the strengths of different blockchains and integrate with existing systems.
Quant's ecosystem includes an App Store and Software-as-a-Service (SaaS) offerings tailored for enterprises and specific industries like healthcare, supply chain, and financial services. The native QNT token is used for accessing network resources, paying licensing fees, and compensating gateway operators who facilitate transaction traffic on Overledger.

Quant

Uphold is a cloud-based financial platform that enables users to securely hold, convert, and transact various digital assets, including over 200 cryptocurrencies, 27 national currencies, and four precious metals. It operates on an "Anything to Anything" model, allowing direct cross-asset trading without converting to fiat currency first. The platform executes transactions through 29 centralized, decentralized, and Layer two trading venues, providing deep liquidity and minimizing slippage.
One of Uphold's key offerings is its multi-asset debit card, accepted at over 50 million merchants globally, enabling users to spend their crypto, fiat, or precious metal holdings directly. The platform also facilitates automated trading through features like recurring buy/sell orders and limit orders.
Uphold boasts industry-leading transparency, publishing its assets and liabilities in real-time on its website, ensuring a 1:1 reserve ratio. It has obtained licensing from regulatory bodies like FinCEN and the FCA, prioritizing compliance and security measures like cold storage and 24/7 monitoring.
In April 2023, Uphold announced Topper, a new fiat-to-crypto on-ramp designed to provide higher approval rates and generate more revenue for Web3 projects. Additionally, in June 2023, Uphold became the only US crypto trading platform to offer Trailing Stop orders, allowing users to automatically sell if the price falls below a set percentage.

Uphold

Blockchain.com is a leading blockchain technology company that operates a popular online cryptocurrency wallet service. It enables users to conveniently buy, store, and manage various digital assets and tokens instantly through a user-friendly platform accessible via web or mobile app. The company's crypto wallet supports instant purchases using debit or credit cards, providing a seamless experience for users to participate in the cryptocurrency market.
One of Blockchain.com's key offerings is its suite of search tools, statistics, and charts that provide comprehensive insights and analysis of the cryptocurrency market. This data-driven approach empowers users with valuable information to make informed decisions regarding their digital asset transactions and investments.
Blockchain.com has achieved significant growth and recognition within the industry. In 2019, the company participated in Tech Nation's prestigious Future Fifty accelerator program, designed for late-stage tech companies with high potential for rapid growth. Additionally, in November 2021, Blockchain.com expanded its reach to become the largest cryptocurrency platform operating in Latin America through the acquisition of the Argentinian company SeSocio.
With a strong focus on innovation and market leadership, Blockchain.com has raised an impressive total of GBP 356 million in equity funding since its inception in 2014. This substantial investment from renowned investors such as GV (Google Ventures) and Lightspeed Ventures underscores the company's potential and the confidence placed in its technology and business model.

Blockchain.com

Bithumb is a South Korean cryptocurrency exchange founded in 2014. It is one of the largest digital asset trading platforms in the country, with over 8 million registered users and over 5 billion active members. Bithumb offers trading services for a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and various altcoins. The exchange provides spot trading, margin trading, and fiat-to-crypto trading options. Additionally, Bithumb offers services like remittances, staking, and auto-trading bots.
Bithumb's technology facilitates high trading volumes and fast execution speeds, with a robust trading engine capable of handling a substantial number of transactions. The exchange prioritizes security, implementing measures such as network separation, intrusion prevention systems, and comprehensive cyber insurance. Bithumb has also introduced Bithumb Cash, a multi-purpose payment platform designed to promote the use of cryptocurrencies in daily life.

Bithumb

Protocols that issue digital currencies that can be used as a medium of exchange and/or a store of value

Companies and protocols that offer digital tokens pegged to the value of a fiat currency (such as USD and EUR) or a commodity (such as gold)

Companies providing infrastructure solutions for central banks to develop and issue their own digital reserve currencies

Companies that offer a marketplace for users to buy, sell, and trade a number of cryptocurrencies and other cryptocurrency-linked financial products

Companies and protocols that offer infrastructure solutions for businesses to accept cryptocurrency payments for goods and services

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

Cryptocurrency underpins transactions for the web3 economy

IOTA Foundation is a non-profit organization that has created IOTA, a trust layer protocol designed for IoT. It provides an open, feeless, and scalable distributed ledger technology (DLT) known as the “Tangle.” IOTA transactions validate two other transactions, removing the need for miners and enabling zero-fee transactions. This makes it an ideal solution for microtransactions, which are crucial for IoT applications.IOTA offers several core and application libraries to integrate its network into various applications. Users can use the IOTA token for transacting on the distributed ledger. The core libraries allow users to send data messages and learn about transactions, while the application libraries facilitate the integration of IOTA into other applications. The IOTA network has decentralized identities or self-sovereign identity (SSI), decentralized identifiers (DID), and verifiable credentials (VC) for identity verification.Key customers and partnershipsIn December 2023, IOTA partnered with LayerZero, a blockchain-based messaging protocol, to enhance cross-chain communication and interoperability within the Shimmer network. Through this partnership, IOTA planned to enable interactions between different blockchain networks, improve user experience, support the development of dApps, and expand the DeFi ecosystem within the Shimmer network. IOTA has a substantial network of partnerships to develop open-source solutions on its network, including Spyce.5, the European Commission, Dell Technologies, Jaguar Land Rover, Tech Mahindra, and TangleHUB.The IOTA Foundation was selected in November 2022 to participate in the last phase of European Blockchain Services Infrastructure’s (EBSI) pre-commercial procurement (PCP) to develop and test a distributed ledger solution for improved Europe-wide blockchain services. It is offering its core technology for integration into the EBSI infrastructure, partnering with various organizations to accelerate development, oversee system integration, and explore different use cases. It aims to make IOTA's functionalities accessible to institutions across Europe.

BlockCypher is an enterprise company specializing in blockchain technology. The company’s cloud-based platform helps enterprises build blockchain applications with web APIs and callbacks. BlockCypher's APIs enable users to interact with multiple blockchains and retrieve data from blocks, receive notifications about unconfirmed transactions, and request multiple signature transactions​.In terms of product offerings, BlockCypher's primary service is its cloud-based platform. The platform's design is blockchain-universal, enabling its compatibility with any blockchain. This versatility permits BlockCypher to support numerous enterprise scenarios, including supply chain oversight, financial transactions, and record maintenance.Key customers and partnershipsBlockCypher and the National Renewable Energy Laboratory (NREL) partnered in June 2018 to showcase secure peer-to-peer energy transactions using the blockchain, forming the foundation for a distributed energy marketplace. This collaboration opens up new value streams for customers and utilities by reducing the need for a central arbitrator.

BlockCypher

Bloq's products are designed to accelerate blockchain development and deployment, catering to individual developers, startups, and enterprises. Focusing on enterprises, the company’s solutions are offered through the Bloq platform, which includes tools for exchanges, wallets, data and analytics, and custody providers.The company provides managed blockchain cloud services that consist of three primary services: Connect, Nodes, and Stake. Connect is a blockchain API service that accelerates the development of real-time connectivity to popular blockchain networks and access to additional blockchain data services. Nodes offers private, fully managed clusters of nodes to access popular public blockchain networks. Stake provides infrastructure and API endpoints to allow users to create validators and start staking, with support for Ethereum and Avalanche networks​​.Key customers and partnershipsThe company's timeline of innovation includes major milestones such as delivering Fidelity’s first bitcoin wallet in 2016, launching BloqLabs in 2017, and working with Citibank on a Universal Node for digital assets in 2018. In recent years, Bloq has launched BloqCloud, a managed node and API service. It also partnered with Lumerin project to tokenize hashpower and founded Atmos Labs to develop metaverse-native sports​​.Bloq’s key enterprise customers include Discover, Citigroup, Foxconn, Barclays, Fidelity, and Circle.

Bloq

Dragonchain offers a blockchain-based, language-agnostic enterprise solutions that includes a Learning Management System. Some of the solutions include 1) Lyceum, which provides traceable proof-of-course progress, completion, scoring, continuing education units, and certification, along with a GDPR- and CCPA-capable identity management platform; 2) Factor, which enables secure PII storage and streamlined authentication; and 3) A FinTech suite that supports regulatory compliance. Dragonchain’s products are quantum-safe and the proof of every transaction is secured to bitcoin, Ethereum, and other blockchain networks.In January 2020, Dragonchain was able to execute over 260 million transactions on a business system in just 24 hours. The test was run on 520 active nodes with a utilization rate of below 2%; it was estimated that at full capacity, the platform could execute approximately 13 billion transactions.The company’s solutions can be used across a range of industries, including healthcare, FinTech, government, and supply chain management. Most use cases focus on using the platform for information gathering and management, with a priority on accurate and real-time information availability.Key customers and partnershipsThe company has worked with a range of customers including Snohomish County in the US, Beaxy, Knowledge Perk, and SafePass.

Dragonchain

BlockApps is a leading provider of blockchain solutions that helps businesses enhance transparency and trust in their transactions. BlockApps' key product, STRATO, is a BaaS platform compatible with Ethereum, which is designed for business network transactions and activities, adhering to the standards of the Enterprise Ethereum Alliance (EEA). It can be deployed on multiple cloud providers, integrated with various systems, and is configurable for a range of business activities. It is primarily used for building business networks with a focus on enhancing security, performance, trust, and transparency. STRATO's capabilities include tokenizing real-world assets, incorporating transparency data, and creating value chain incentives. It offers a suite of features including data privacy controls, network governance, scalability, APIs for third-party integration, audit and reporting tools, data migration facilities, identity management using existing enterprise sign-on systems, consensus mechanisms, developer tools, application portability, and the ability to use existing enterprise data models.Key customers and partnershipsIn 2016, BlockApps collaborated with ConsenSys and BHP Billiton to deploy its first production application. In the same year, it built enterprise Proof of Concepts (POCs) with John Hancock and Upgraded (now Ticketmaster).BlockApps announced an initiative with ARC, United Airlines, and Blockskye in 2018 and also launched the STRATO platform on all major cloud providers by partnering with Google and Amazon Web Services.In September 2021, it launched TraceCarbon, a CO2 ecosystem management application, supporting sustainability traceability.Funding and financialsIn April 2022, BlockApps raised USD 41 million in funding through a round led by Liberty City Ventures. The company intended to use the funding to enhance its go-to-market strategy, expand its team, help businesses expand in its blockchain ecosystem, and bring more real assets to the STRATO platform.

BlockApps

Cryptowerk is an enterprise blockchain company that offers blockchain-as-a-service, allowing organizations to create a tamper-proof chain of custody for their digital assets and enabling them to prove authenticity at scale​​. Cryptowerk's solutions are used in multiple industries, including aerospace and defense, automotive, pharmaceuticals, software, and utilities​​.The company's primary product is Cryptowerk HORIZON. This software creates tamper-proof records of digital assets that can be sealed in public or private blockchains up to one million times per second. These digital "fingerprints" can then be compared to the original data to verify authenticity. Cryptowerk HORIZON is offered as a REST API. The product is available for cloud-based deployment and supports various organizations including midsize businesses, small businesses, enterprises, freelancers, nonprofits, and government entities​​.

Cryptowerk

Companies that offer blockchain-based solutions that enable users and companies to track price, date, location, quality, and other relevant information for supply chain management

Companies and protocols that leverage blockchain technology to act as content delivery networks (CDNs) or provide content sharing solutions

Companies that leverage blockchain technology to offer databases, query services and data sharing

Companies that offer blockchain-enabled Internet-of-Things (IoT) development platforms for building networks and transferring IoT device data

Companies that leverage blockchain to protect and manage digital intellectual property (IP) rights

Companies that leverage blockchain technology to provide cybersecurity and identity management solutions for enterprises

Companies and protocols that offer industry and context specific blockchain-based solutions for enterprise applications

The blockchain-as-a-service segment operates under a B2B SaaS model

Companies offering blockchain-enabled tools to build IoT networks/supply chain traceability solutions for smart factories

Includes companies that offer blockchain-enabled tools to build IoT networks and transfer IoT device data

IOTA is a trust layer protocol designed for IoT, which provides an open, feeless, and scalable distributed ledger technology (DLT) known as the “Tangle.” IOTA transactions validate two other transactions, removing the need for miners and enabling zero-fee transactions.&nbsp;In June 2024, IOTA <a href="https://sp-edge.com/updates/30209">launched an Ethereum Layer 2 network</a> for tokenizing real-world assets. The launch also introduced several new features into the IOTA ecosystem. These include smart contracts; parallel processing, which allows for multiple transactions to be executed simultaneously; smart contracts; cross-chain capabilities, which allow for interoperation between different blockchains; and protection against maximal extractable value (MEV), which will reduce gas fees.IOTA also offers several core and application libraries to integrate its network into various applications. Users can use the IOTA token for transacting on the distributed ledger. The core libraries allow users to send data messages and learn about transactions, while the application libraries facilitate the integration of IOTA into other applications. The IOTA network has decentralized identities or self-sovereign identity (SSI), decentralized identifiers (DID), and verifiable credentials (VC) for identity verification.Key customers and partnershipsIn December 2023, IOTA partnered with LayerZero, a blockchain-based messaging protocol, to enhance cross-chain communication and interoperability within the Shimmer network. Through this partnership, IOTA planned to enable interactions between different blockchain networks, improve user experience, support the development of dApps, and expand the DeFi ecosystem within the Shimmer network. IOTA has a substantial network of partnerships to develop open-source solutions on its network, including Spyce.5, the European Commission, Dell Technologies, Jaguar Land Rover, Tech Mahindra, and TangleHUB.

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

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

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 IOTA Foundation, a provider of a blockchain-based IoT platform, has announced "IOTA Rebased," which is a proposed layer-1 protocol enhancement. The community will vote on the upgrade on 2nd December, and a version of it is available for testing on the testnet.
 The new upgrade, IOTA Rebased, lets users create and roll out smart contracts on a parallel DAG-based ledger built on the Move programming language. This ledger utilises a fresh proof-of-stake consensus protocol known as "Mysticeti." Some of the highlighted features of this protocol include lower transaction charges due to a flexible fee burn mechanism, transactions sponsored by the protocol, and 150 validator slots offering staking rewards with an annual percentage yield of between 10% and 15%.
 The Foundation believes that with this enhancement, they will be able to deploy the mainnet faster than currently planned in IOTA 2.0. It will also be capable of processing over 50,000 transactions per second with finality achieved in less than a second. Additionally, ecosystem growth will be sped up due to improved programmability.
 
</div> Analyst QuickTake: 
 This news marks IOTA’s second major infrastructure development since it <a href="https: 
//blog.iota.org/iotas-evm-mainnet-launch/"> integrated Ethereum-based layer-2 smart contracts </a> in May. While a number of projects, such as LayerZero, Stargate, Pyth, Goldsky, and over 30 native dApps, have successfully deployed on the network since its launch, this new layer-1 release will enable a new ecosystem of applications and use cases on the Movement network.

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