Research Summary
This report provides an overview of crypto fundraising activities for the week of August 20-26, 2023. Five blockchain startups raised a total of $5M in funding. The companies include Maple, Pendle, LuminaDEX, Delphinus Lab, and UXUY. Each startup offers unique solutions, ranging from blockchain-based credit marketplaces to decentralized exchanges and infrastructure providers.
Key Takeaways
Maple’s Strategic Funding Round
- Significant Funding: Maple secured the largest funding of the week, raising $5M from various investors including BlockTower Capital and Tioga Capital Partners.
- Unique Offering: Maple operates as a blockchain-based credit marketplace, offering undercollateralized loans to institutional borrowers and fixed-income opportunities for lenders.
- Token Utility: The platform is governed by the Maple Token (MPL), which allows holders to participate in governance, share in fee revenues, and stake insurance in Lending Pools.
Undisclosed Funding Rounds
- Pendle’s Funding: Pendle, an on-chain yield asset aggregator, raised an undisclosed amount from Binance Labs Fund.
- LuminaDEX’s Strategic Funding: LuminaDEX, a decentralized exchange built on the Mina Protocol, also secured an undisclosed amount from Mina Protocol and Big Brain Holdings.
- Delphinus Lab’s Funding: Delphinus Lab, an infrastructure provider pioneering the zkWASM domain, raised an undisclosed amount from Binance Labs Fund.
- UXUY’s Funding: UXUY, a cross-chain liquidity aggregation protocol, raised an undisclosed amount from MEXC.
Actionable Insights
- Investigate the Potential of Maple: Given its significant funding and unique offering, Maple’s growth and impact on the blockchain-based credit marketplace should be monitored.
- Explore the Role of Undisclosed Funding: The undisclosed funding rounds of Pendle, LuminaDEX, Delphinus Lab, and UXUY indicate a trend of private investments in the crypto space. The impact of these investments on the companies’ growth and the overall market should be explored.
- Understand the Impact of Innovative Technologies: The unique technologies offered by these startups, such as LuminaDEX’s zkKYC-enabled DEX and Delphinus Lab’s zkWASM virtual machine, could potentially reshape the blockchain landscape. Their development and adoption should be closely watched.
