January Key Financing Project Review: 113 financing events in January, with an amount exceeding 651 million USD

Financing Overview

In January 2024, a total of 113 financing events were recorded, an increase of 15 from the previous month, with the infrastructure sector having the most financing events: 30; the sector with the highest total financing amount is CeFi, at 210 million.

|----------|-----|--------| | Category | No. | Amount | | Infra | 30 | 108 million | | DeFi | 29 | 78.4 million | | GameFi | 9 | 38 million | | NFT | 4 | 6.85 million | | SocialFi | 10 | 14 million | | Tools | 8 | 37.3 million | | CeFi | 9 | 270 million | | Others | 14 | 134 million |

Infrastructure

The infrastructure sector had a total of 30 financing events, with a total financing amount reaching 108 million USD. Among them, 16 financing events disclosed their amounts:

|--------|-----|---------------------------------------------------| | Amount | No. | Projects | | 1-3M | 4 | Root Protocol, PublicAI, Fetcch, Wield | | 3-5M | 4 | Nockchain, zbyteDPLAT, zkLink, Bagel Network | | 5-10M | 5 | Mesh, Gevulot, Bitfinity Network, Masa, Hyperline | | 10-20M | 2 | Axiom, Agrotoken | | 20-50M | 1 | Polymer |

Key Financing Project Information

zkLink

Project Introduction: zkLink is a transaction-centric multi-chain L2 network with unified liquidity protected by ZK-Rollups. dApps built on the zkLink L2 network leverage seamless multi-chain liquidity to provide rapid deployment solutions for decentralized and non-custodial order books, AMMs, derivatives, and NFT exchanges. zkLink operates as a trustless, permissionless, and non-custodial interoperability protocol aimed at connecting different blockchains, eliminating discrepancies between different tokens, and addressing the liquidity island problem formed by isolated chains.

Important Information: On January 29, zkLink announced the completion of a $4.68 million token sale on CoinList. The team stated that at a $150 million FDV valuation, the 312,500 tokens sold were slightly above 3% of the total supply.

Root Protocol

Project Information: Root (formerly NFT3) is building a Web3 operating system composed of intent-centric digital identity aggregators, virtual accounts, social graphs, etc., to achieve unified access to Web3. Its goal is to become a one-stop site for all decentralized identities, making access to different Web3 platforms more seamless.

Important Information: The token is about to be issued, with a Community Presale on February 7.

Bagel Network

Project Information: Bagel Network is a machine learning data lake for humans and autonomous AI agents to collaboratively build, trade, and license machine learning datasets. The Bagel Network aims to be a pioneer in decentralized AI infrastructure.

DeFi

The DeFi sector had a total of 29 financing events, with a total financing amount reaching 78.4 million USD. Among them, 21 financing events disclosed their amounts:

|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------| | Amount | No. | Projects | | 1-3M | 14 | Kasu, Veta Finance, BBOX, Ithaca Protocol, Infrared, Noah, Canza Finance, NAVI Protocol, Umoja, BracketX, Synonym Finance, BitFlow, Bmaker, Rocket3 | | 3-5M | 6 | Squid, Entangle, Altitude, Saros Finance, SAROS, Renzo Protocol | | 5 -10M | 1 | WOO Network | | 10M+ | 1 | Portal Network |

Key Financing Project Review

Orbiter Finance

Project Information: Orbiter Finance is a decentralized cross-rollup bridge for transferring Ethereum's native assets, aimed at enhancing the performance of Layer 2 solutions and reducing gas consumption. Orbiter Finance is launching the Orbiter Rollup as an intent layer, primarily used for decentralized aggregation of cross-chain intent-related messages for Orbiter users, helping them achieve their desired outcomes without specifying step-by-step execution.

Key Information: Currently, there is an activity on the TaskOn platform using the Orbiter to cross-chain from Ethereum to ARB, participating in the activity to fill in their TX, with a chance to win prizes. The official website of Orbiter also has a points activity where users can earn points by cross-chaining assets to Manta.

NAVI Protocol

Project Information: Navi is a native one-stop liquidity protocol on Sui. It enables users to participate in the Sui ecosystem as liquidity providers or borrowers. Liquidity providers supply assets to the market, earning passive income through yields, while borrowers can flexibly obtain loans in different assets. Navi focuses on providing the necessary DeFi infrastructure, aiming to be a key player in the rapidly growing DeFi world of the Sui ecosystem. The protocol's innovative features, such as automated leverage vaults and isolation modes, allow users to leverage their assets and gain new trading opportunities with minimal risk. NAVI's design supports digital assets of varying risk levels, while its advanced security features ensure the protection of user funds and mitigation of systemic risks.

Important Information: An IDO is upcoming, and a points system was launched on January 22 to encourage users to regularly use the product to accumulate points.

WOO Network

Project Information: WOO Network connects traders, exchanges, institutions, and DeFi platforms to democratize access to top-tier liquidity and trade execution at zero or low cost. WOO Network was initially incubated by the large cryptocurrency quantitative trading firm Kronos Research. WOO Network aims to reduce market inefficiencies and disrupt the crypto market by addressing the major cryptocurrency issue of fragmented liquidity. Its ultimate goal is to standardize liquidity. WOO Network is able to channel significant liquidity through its market maker Kronos Research and by internalizing order flow from other crypto exchanges via API integration. Its main product is WOO X, a zero-fee crypto trading platform that also serves as a liquidity aggregator for digital assets. WOOFi is the DeFi arm of WOO Network, assisting decentralized exchanges by providing on-chain liquidity. WOO Network also operates its official investment arm, WOO Ventures.

GameFi

The GameFi sector had a total of 9 financing events, with a total financing amount reaching 38 million USD. Among them, 8 financing events disclosed their amounts:

|--------|-----|---------------------------------------------------| | Amount | No. | Projects | | 1-3M | 3 | AOFverseAFC, 10n8, Spellborne | | 3-5M | 1 | Arcade | | 5 -10M | 3 | 3thix, Forgotten Playland, AI Arena / ArenaX Labs | | 10M+ | 1 | SkyArk Chronicles |

Key Financing Project Review

GG

Project Introduction: GG is an AR crypto game based on Solana, where players can search for and collect GBox in their own cities or bet online with friends, with everyone having a chance to win big prizes.

Forgotten Playland

Project Introduction: Forgotten Playland redefines social party games, featuring a series of mini-games such as Bump-A-Ball and Jungle Rumble. The Social Hub, which has exited, is a dynamic interactive space where players can hang out and socialize within the game.

NFT

The NFT sector had a total of 4 financing events, with a total financing amount reaching 6.85 million USD. Among them, 2 financing events disclosed their amounts:

|--------|-----|----------| | Amount | No. | Projects | | 1-3M | 1 | EZswap | | 3M+ | 1 | eesee.io |

Key Financing Project Review

Eesee.io

Project Introduction: eesee is a one-stop liquidity solution for sellers, offering an engaging and secure lottery system at an affordable price. This community-centric platform is tailored for digital assets, tokens, and RWAs, focusing on a win-win value proposition. Sellers can host lottery events to sell their entries to interested buyers. Buyers can purchase at will, which helps increase their chances of winning. After the prize pool is sold out, winners will be determined through a lottery, and losers will earn points for contributing to the prize pool, leading to future rewards.

EZ Swap

Project Introduction: EZ Swap is a multi-chain NFT DEX and inscription marketplace. By leveraging an automated market maker (AMM) mechanism, EZ Swap provides an efficient trading environment directly integrated with games. This not only changes the way game assets are traded and utilized but also opens new avenues for gamers and developers, enhancing the overall gaming experience.

SocialFi

The SocialFi sector had a total of 10 financing events, with a total financing amount reaching 14 million USD. Among them, 7 financing events disclosed their amounts:

|--------|-----|-----------------------------------------------------------------| | Amount | No. | Projects | | \< 1M | 1 | PEClandPECL | | 1-3M | 3 | Singular, CharacterX, Stan, Ringfence, Friends With BenefitsFWB | | 3M+ | 1 | Ta-da |

Key Financing Project Review

Ta-da

Project Introduction: Ta-da is a Talk-to-Earn web3 application that connects businesses and individuals. Users earn tokens by recording their voices through an application. Vivoka, an AI company from France, is the predecessor of Ta-da.

CharacterX

Project Introduction: CharacterX is an AI character chat network where users can chat with a variety of characters and enjoy the fun of virtual companionship. Each character has its own purpose and personality, ranging from knowledgeable professors to mysterious fortune tellers, as well as characters from anime and shows. CharacterX aims to help users unlock a world filled with fun and creativity.

Tools and Information Services

The tools and information services sector had a total of 8 financing events, with a total financing amount reaching 37.3 million USD. Among them, 6 financing events disclosed their amounts:

|--------|-----|----------------------------| | Amount | No. | Projects | | 1-3M | 1 | bitsCrunch, Safary, TrendX | | 3-5M | 2 | 0xScope, Dopamine | | 3M+ | 1 | Magic Square |

Key Financing Project Review

0xScope

Project Introduction: 0xScope's vision is to democratize and decentralize access to Web2 and Web3 data. On one hand, 0xScope is building an open-source data layer where people can upload, verify, process, and download Web2 and Web3 data. On the other hand, 0xScope is building analytical tools on this layer to showcase possibilities to developers and pave the way for the community to develop powerful dApps. The current product suite of 0xScope includes a set of B2B SaaS solutions and B2C product Scopescan. The 0xScope SaaS product enables businesses to conduct post-investment management, make better investment decisions, understand user behavior, and closely monitor competitive trends. Scopescan allows cryptocurrency traders to investigate the flow of funds and activities on selected blockchains.

Dopamine

Project Introduction: Dopamine is a crypto investment application favored by both beginners and experts, allowing users to access all the information they need (browsing all tokens, reading whitepapers, learning about teams, progress, events, etc.), interact with peers, trade on DeFi protocols, and access their favorite crypto tools and projects.

Others

|----------|-----|-----------------------------------------| | Amounts | No. | Projects | | > 1M | 1 | Four Pillars | | 1 - 5M | 3 | imgnAIIMGNAI, KEKKAI, PowerPod | | 5 - 10M | 3 | Dinari, Argo Blockchain, Pontem Network | | 10 - 20M | 3 | Ingonyama, Kiln, DIMODIMO | | 20M+ | 1 | Core Scientific |

Key Financing Project Review

KEKKAI

Project Introduction: KEKKAI is a Web3.0 security plugin that detects dangers by analyzing transaction simulations, aiming to eliminate the growing fraud in the Web3 space. Users can obtain risk assessment information provided by KEKKAI during transactions—if there are anomalies, KEKKAI will display risk alerts on the page.

Kiln

Project Introduction: Kiln is a cryptocurrency staking platform that allows users to stake tokens directly or integrate white-label staking solutions into their own built products. Its platform is API-first, supporting fully automated validator, rewards, data, and commission management.

CeFi

The infrastructure sector had a total of 9 financing events, with a total financing amount reaching 270 million USD. Among them, 17 financing events disclosed their amounts:

|----------|-----|-------------------------| | Amounts | No. | Projects | | > 1M | 1 | Fizen | | 5 - 10M | 1 | BIKA | | 10 - 50M | 3 | Flowdesk, Sygnum, Finoa | | 50M+ | 1 | HashKey Group |