Last week, there were a total of 22 public financing events in the cryptocurrency market, raising approximately $108 million | Investment and Financing Weekly Report

Organizer: Luan Peng, RootData

According to incomplete statistics from RootData, during the period from July 29 to August 4, 2024, there were a total of 22 public financing events in the blockchain and cryptocurrency industry, with a total financing of approximately $108 million.

From the perspective of track distribution, the projects that received financing are mainly distributed in the infrastructure and DeFi tracks. Popular projects include the open AI cloud service provider Hyperbolic, the DeFi protocol Chateau, the perpetual contract protocol Rage Trade, the UGA platform We.Rich, and the blockchain climate technology company Raad Labs.

In addition, the DeFi lending platform Morpho completed a $50 million financing round, led by Ribbit Capital.

*（List of projects with financing greater than $5 million last week, data source: * Rootdata）

1. Infrastructure

Binance Labs announces investment in Particle Network
According to official news, Binance Labs announced an investment in Particle Network. Particle Network is an L1 solution aimed at solving the fragmentation of users and liquidity in Web3 through universal accounts. (Source link)

Open AI cloud service provider Hyperbolic completes $7 million seed round financing, led by Polychain Capital and Lightspeed Faction
According to the official announcement, open AI cloud service provider Hyperbolic completed a $7 million seed round financing, led by Polychain Capital and Lightspeed Faction, with participation from Chapter One, LongHash, Bankless Ventures, Republic Digital, Nomad Capital, CoinSummer Labs, and Third Earth Capital. The funds will be used to advance the development of Hyperbolic's open AI cloud platform, including hiring key engineers and creating a supportive ecosystem for developers.

Hyperbolic plans to provide verifiable and secure AI services by integrating global GPU computing resources and leveraging blockchain technology to address industry bottlenecks in computing resource costs and allocation. Hyperbolic's first product is an AI inference service that promises high performance at a lower cost. Its innovative approach uses "heterogeneous computing" technology to optimize tensor operations across various hardware, allowing developers to access powerful open-source AI models through simple API calls. Additionally, Hyperbolic is building a GPU marketplace that provides an intuitive and automated interface for users to rent and supply GPUs, supported by its decentralized orchestration layer Hyper-dOS (Hyperbolic Distributed Operating System). (Source link)

2. DeFi

DeFi protocol Chateau completes Pre-Seed round financing, led by Hack VC
Hack VC announced on the X platform that it has led the Pre-Seed round financing for Chateau.

Chateau is a protocol that brings TradFi private equity and fund investments on-chain, providing DeFi participants with access to these private markets. Chateau assets can be combined with most DeFi protocols, thus supporting novel applications and other use cases based on on-chain RWA lending markets, leverage, and re-mortgaging. (Source link)

DeFi lending platform Morpho completes $50 million financing, led by Ribbit Capital
According to CoinDesk, DeFi lending platform Morpho completed $50 million in financing, led by Ribbit Capital, with participation from Hack VC, IOSG, Rockaway, L1D, Mirana, Cherry, Semantic, Fenbushi, Leadblock Bitpanda, and Robot Ventures.

Heavyweights participating in the private token sale include a16z crypto, Coinbase Ventures, Variant, Pantera, Brevan Howard, BlockTower, and Kraken Ventures.

Ribbit Capital is an early investor in fintech companies such as Robinhood, Revolut, and Coinbase.

Morpho previously raised $18 million in 2022, aiming to merge the relatively scarce decentralized finance (DeFi) world with the foundational protocol layer of the internet. (Source link)

Perpetual contract protocol Rage Trade has completed RAGE public offering, raising $6 million
Perpetual contract protocol Rage Trade announced on X that it has completed the RAGE public offering, raising $6 million in 15 minutes.

Previous news indicated that Rage Trade released its token economics, which includes: 35% for token sales, 30% for community treasury, 15% for the team, 13.5% for private buyers, and 6.5% for airdrops.

The airdrop portion consists of: 4% for V1 users, 1.25% for V2 users, and 1.25% for @HyperliquidX OG spot traders. (Source link)

PointsFi market Pichi Finance completes $2.5 million financing, led by Signum Capital and others
PointsFi market Pichi Finance announced the completion of $2.5 million financing, led by Signum Capital, UOB Venture Management, and Mantle, with participation from DWF Labs, GBV Capital, Nothc Ventures, and others.

Additionally, the Web3 asset data platform RootData shows that Pichi Finance is a point trading protocol that allows users to trade points from their favorite protocols before TGE. Pichi has made significant design improvements to the process of trading points by utilizing ERC-6551 accounts (also known as Tokenbound accounts). (Source link)

UGA platform We.Rich completes $2 million seed round financing, led by Animoca Brands and Folius Ventures
According to official news, UGA platform We.Rich has secured $2 million in seed round financing led by Folius Ventures and Animoca Brands.

Additionally, the Web3 asset data platform RootData shows that We.Rich is a UGA (User Generated Assets) platform that allows anyone to launch a memecoin without LP with one click. (Source link)

Binance Labs announces investment in Monad ecosystem project aPriori
According to official news, Binance Labs announced an investment in the Monad ecosystem project aPriori. Through its incubation program, it invests in the Monad ecosystem project aPriori, which focuses on developing miner-extractable value (MEV) driven liquid staking solutions on Monad.

The new round of financing will enable aPriori to expand its team, accelerate R&D efforts, strengthen security protocols, and further optimize blockchain performance for mass adoption. (Source link)

DeFi protocol Liquorice announces completion of $1.2 million pre-seed round financing, led by Greenfield Capital
DeFi protocol Liquorice announced the completion of $1.2 million pre-seed round financing, led by Greenfield Capital. L2 Iterative Ventures, Polymorphic Capital, Horadrim.Capital, HASH CIB, and the founder of 1inch participated. The financing will be used to develop Liquorice.

According to the Web3 asset data platform RootData, Liquorice is a DeFi protocol that enables auction-based price discovery and unilateral liquidity pools. Liquorice's main mission is to provide efficient inventory management tools for professional trading firms and connect to core DeFi protocols such as 1inch and Uniswap X when settling trades based on intent. (Source link)

Web3 integrated platform Agent Exchange completes $1 million financing, with participation from Domo and others
According to official news, the Web3 integrated platform Agent Exchange announced the completion of $1 million financing, with participation from The Block CEO Larry Cermak, BRC20 founder Domo, Web3 developer Cygaar, Mr. Blockchain, Caladan, and others.

According to the official introduction, Agent has achieved flexible creation and management of sub-accounts through the ERC-6551 standard. Through these tokenized accounts, it enables users to conveniently earn and trade points in the pre-market. (Source link)

Solana ecosystem meme coin collateral platform BlonkFi completes pre-seed round financing
According to BlonkFi's official news, the Solana ecosystem meme coin collateral platform BlonkFi announced the successful completion of pre-seed financing led by UOB Venture Management and Signum Capital. This round of investors includes Manifold Trading, Kyros Ventures, Hypotenuse Labs, and other strategic partners.

BlonkFi is a core liquidity infrastructure protocol aimed at addressing the liquidity issues of volatile, mid-market assets such as meme tokens through collateralization. (Source link)

3. DEPIN

DePin project Daylight secures $9 million Series A financing, led by A16z Crypto
According to The Block, DePin project Daylight completed $9 million in Series A financing led by A16z Crypto. The project aims to build a decentralized energy protocol on the Base blockchain, and co-founder and CEO Jason Badeaux stated that this round of financing brings Daylight's total funding to $13 million.

Daylight allows users to connect energy devices and earn rewards through its application, with the current market covering New York, New Jersey, and Pennsylvania, and plans to expand to Texas and California in the future. (Source link)

Blockchain climate technology company Raad Labs completes $2.25 million financing, led by CoinFund
According to Businesswire, blockchain climate technology company Raad Labs announced the completion of $2.25 million financing, led by CoinFund, with participation from Tribe, EV3, and Protagonist.

Raad Labs deploys distributed sensor networks through the DePIN model to improve climate data measurement and prediction. This network can monitor weather patterns, greenhouse gas emissions, wildfire risks, soil degradation, and more. By leveraging web3 technology, Raad can incentivize sensor operators to generate high-quality data needed for precise environmental management.

Additionally, TJ Ragsdale has been appointed as CEO and co-founder of Raad Labs; TJ previously co-founded the battery storage DePIN protocol Entheos Network. (Source link)

4. Gaming

Chain game aggregation platform Destiny of Gods completes $500,000 financing, with participation from Zihui Ventures
Chain game aggregation platform Destiny of Gods completed $500,000 financing, with participation from Zihui Ventures, and established a comprehensive strategic and business cooperation relationship with them. Both parties will collaborate to layout the on-chain ecosystem and jointly promote the healthy development of the chain game industry.

According to RootData, Destiny of Gods is a turn-based digital card game. Players will build card decks, upgrade equipment, and participate in PvE and PvP battles. The game offers various game modes, dungeons, cards, and equipment. It is a turn-based digital card game that allows players to enjoy fun while earning extra income. (Source link)

5. Others

NFT startup Mintify completes $3.4 million new round of financing, with participation from Cumberland and others
According to The Block, NFT startup Mintify completed $3.4 million in a new round of financing, with participation from ARCA, Cumberland, Psalion, Master Ventures, Zeneca, GM Capital, Spencer VC, and over 50 angel investors. Mintify's total financing has reached $5 million and is currently building infrastructure for NFT order books in the gaming, art, and real-world asset markets. (Source link)

Cryptocurrency proprietary trading firm Breakout completes $4.5 million seed round financing, led by RockawayX
According to The Block, cryptocurrency proprietary trading firm Breakout completed $4.5 million in seed round financing, led by RockawayX, with participation from Andrew Kang's Mechanism Capital, Round13 Capital, C² Ventures, and IOBC Capital. The company's co-founder and CEO Alex Miningham declined to comment on the valuation.

Breakout is described as an assessment-based cryptocurrency proprietary trading firm. Traders can choose between a one-step or two-step assessment plan, with account sizes ranging from $5,000 to $100,000. After securing new funding, Breakout plans to expand into the Asia-Pacific and Latin America regions and attract more users through a global alliance program. (Source link)