ChainCatcher news, Electric Capital partner Maria Shen will host a special discussion in X Space with Consensys Head of Developer Relations Francesco and HackQuest co-founder Harry, focusing on the latest developer report released by Electric Capital. The three guests will delve into the core conclusions of the report, strategies for onboarding developers from different ecosystems, future development trends of the Web3 developer ecosystem, and innovative directions in developer education, among other topics.

ChainCatcher news, according to a report by The Block, a developer report released by the venture capital firm Electric Capital found that Solana is the preferred blockchain for new developers. The report found that among the 39,148 new developers exploring cryptocurrency this year, 7,625 are developing on Solana, indicating that the number of developers on this network has increased by 83% year-over-year.The report states that this is the first time since 2016 that the growth rate of the Solana blockchain ecosystem has surpassed that of Ethereum. However, in terms of total developers, Ethereum remains the largest blockchain in North America, South America, Asia, Europe, and Africa. Solana ranks second in the same regions based on the number of developers.Electric Capital's report also found that in 2024, Aptos, Base, Bitcoin, Internet Computer, NEAR, Polkadot, Polygon, Starknet, and Sui each added over 1,000 new developers. Additionally, BNB, Optimism, Scroll, Stellar, and TON also added 500 new developers.

ChainCatcher news, Electric Capital partner Maria Shen released a global cryptocurrency developer distribution research report showing that, through the analysis of over 110,000 developer profiles, North America's leading position in the share of cryptocurrency developers has been surpassed by Asia. The share of developers in North America has sharply declined from 44% in 2015 to 24% in 2024. Meanwhile, Asia's share has risen from 13% to 32%, becoming the largest continent for crypto talent for the first time.By country, the United States ranks first globally with a share of 18.8%, followed by India and the United Kingdom with 11.8% and 4.2%, respectively. Since 2015, the U.S. share of global cryptocurrency developers has plummeted by 51%. During the same period, the cryptocurrency market size skyrocketed from $5 billion to $2.4 trillion, an increase of nearly 480 times.Additionally, although the cryptocurrency industry is often thought to be concentrated in traditional tech hubs like California and New York, in reality, 64% of developers are distributed outside these areas. The study analyzed over 200,000 crypto-related Git commit records, involving more than 350,000 code repositories. Maria emphasized that cryptocurrency development should not be partisan, as developers are spread across states, representing different political backgrounds.

ChainCatcher news, according to The Block, the DeFi abstraction platform Infinit has completed a $6 million funding round, with participation from Electric Capital, Mirana Ventures, Hashed, and Arthur Hayes' family office Maelstrom, Lightspeed Faction, Nomad Capital, Robot Ventures, Tangent, and Presto Labs.It is reported that the new funds will be used to enhance its infrastructure and provide a smoother service experience for DeFi protocol builders.

ChainCatcher news, the on-chain order exchange Kuru announced the completion of a $2 million seed round financing, led by Electric Capital, with participation from Brevan Howard Digital, CMS Holdings, Pivot Global, Breed, and Velocity Capital, as well as angel investors such as Keone Hon, Jarry Xiao, and Eugene Chen.Kuru intends to use the new funds to expand its team and prepare for audits before the launch of the Monad testnet.It is reported that Kuru is an on-chain order book DEX on Monad, providing users with a single platform to discover, research, and trade on-chain spot assets.

ChainCatcher news, the fixed-rate lending protocol Term Finance has completed a $5.5 million strategic financing round, led by Electric Capital, with participation from Arete Capital, Delta Blockchain Fund, Inception Capital, Blizzard Fund, Maelstrom, and others. The funds raised will be used to develop the protocol and accelerate Term's roadmap to simplify lending through features such as looping, passive lending, automation, and real-time alerts.It is reported that Term is the first on-chain fixed-rate lending protocol to operate effectively at an institutional scale, providing over $100 million in loans through the protocol, with seven-figure liquidations occurring weekly.According to RootData, Term is a non-custodial, scalable fixed-rate lending protocol that uses a novel on-chain auction dual-auction mechanism to determine the fixed rates for transactions between borrowers and lenders on the platform. It brings borrowers and lenders together in a fair and transparent auction process to establish a single market clearing rate that all participants will pay or receive, regardless of size.

ChainCatcher news, according to The Block, the memecoin and NFT leverage trading protocol Wasabi has completed a $3 million seed round financing, led by Electric Capital, with participation from Alliance, Luca Netz, Santiago Santos, Zagabond, DCF God, and others. The Wasabi protocol is available on Ethereum and the Ethereum L2 Blast.Since January, Wasabi's trading volume has exceeded $500 million. Wasabi is hiring smart contract engineers, backend developers, quantitative engineers, and operations managers. It plans to expand its current team of 6 to 10 in the near future.

ChainCatcher news, according to The Block, the Solana ecosystem multi-signature protocol Squads has completed a $10 million Series A funding round, led by Electric Capital, with participation from Coinbase Ventures, Placeholder VC, RockawayX, L1 Digital, and Mert Mumtaz, co-founder and CEO of Helius and founder of Odyssey Ventures. Previously, the company had raised $12.5 million in three funding rounds.According to the Web3 asset data platform RootData, Squad is a multi-signature management tool based on Solana, designed to handle complex governance and fund management, with the mission of unlocking the full potential of self-custody, co-ownership, and coordination for teams emerging in Web3.Since its launch in 2021, Squads has stated that it has helped protect over $10 billion in assets, a significant increase from $500 million in October last year.

ChainCatcher news, according to CoinDesk, the tokenized reinsurance RWA platform Re has completed a new round of financing of $7 million, led by Electric Capital.It is reported that the project had previously completed a $14 million seed round financing at the end of 2022, and Re aims to support $200 million in premiums by the end of this year.According to the Web3 asset data platform RootData, Re is a blockchain-driven reinsurance company that allows qualified investors to support real-world insurance policies and companies. It has established a decentralized reinsurance market on Avalanche's C-Chain and Subnet, which is a decentralized global insurance trading layer that addresses any type of insurance risk in a transparent manner to regulators, partners, and investors.

ChainCatcher news, according to The Block, the Solana ecosystem DEX project Zeta Markets has completed a $5 million strategic financing round, led by Electric Capital, with participation from Digital Asset Capital Management (DACM), Selini Capital, and Airtree Ventures. Angel investors include Solana's Anatoly Yakovenko, Helius's Mert Mumtaz, Tensor's Richard Wu, and Pyth's Genia Mikhalchenko.Zeta Markets founder Tristan Frizza stated that this round of financing, which just started recently, ended last week, and the structure of this round is a "pure" simple agreement for future tokens (SAFT).According to the Web3 asset data platform RootData, [Zeta Markets](https://www.rootdata.com/zh/Projects/detail/Zeta Markets?k=MzAzNg== "DeFi derivatives built on Solana") is an under-collateralized DeFi derivatives platform that provides liquidity derivative trading for individuals and institutions.

ChainCatcher news, Farcaster's integrated social client Kiosk announced on the X platform that it has completed a $10 million financing round, led by Electric Capital, with participation from a16z Crypto, USV, and Variant Fund.According to the Web3 asset data platform RootData, Kiosk is a Farcaster client that helps creators build a community from 0 to 1 within the app. Creators can share media-rich ideas with their social graph, allowing them to be minted as NFTs, gather like-minded collectors and collaborators in channels, establish custom channel economies such as tips and distribution, and chat with the community—all without leaving the app.

ChainCatcher news, according to Coindesk, the on-chain investment project Storm Labs has completed a $3 million financing round, led by Electric Capital, with participation from Accomplice, Robot Ventures, Daedalus, and well-known angel investors in the industry.It is reported that Storm Labs will use this round of financing to build the on-chain portfolio manager Cove. Cove allows users to build and manage customized DeFi portfolios without manual operations, addressing issues such as losses and rebalancing.

ChainCatcher news, Mantle ecosystem liquidity-linked currency market INIT Capital announced the completion of a $3.1 million seed round financing, led by Electric Capital and Mirana Ventures, with participation from BitMEX founder Arthur Hayes and his family office Maelstrom, Robot Ventures, Nomad Capital, Tangent Ventures, Bankless Ventures, Selini Capital, and Faction.It is reported that this round of financing will be used to enhance INIT's technical capabilities, market strategy, etc. INIT will also launch a new product called "Looping Hook" on February 28.

ChainCatcher news, according to CoinDesk, the MPC wallet platform Fordefi has completed a $10 million financing round, led by Electric Capital with participation from institutions such as Paxos and Alchemy.It is reported that the company is expanding its self-custody MPC wallet product to retail-facing platforms, such as trading platforms and fintech platforms.Previously, in November 2022, Fordefi announced the completion of an $18 million seed round financing, led by Lightspeed Venture Partners, with participation from Electric Capital, Alameda Research, Jump Crypto, Castle Island, Pantera Capital, Illuminate Financial, PayPal Alumni Fund, Nima Capital, Digital Currency Group, Defiance Capital, and StarkWare.

ChainCatcher news, according to Fortune magazine, the team behind the security protocol Delegate, Delegate Labs, has completed a $9 million seed round financing, with participation from Electric Capital, Arca, Variant, and Arrington Capital. This round of financing will be used to fund the Web3 domain protocol Clusters.In previous news, Delegate launched a multi-chain domain service Clusters in collaboration with the cross-chain interoperability protocol LayerZero. Clusters aims to address issues such as address fragmentation, wallet management complexity, and domain squatting.

ChainCatcher news, Layer2 network Frame announced on platform X that it has completed a new round of financing, with participation from Electric Capital, 9gag founder Ray Chan, Luca Netz, and former Sushiswap CEO 0xMaki. The specific amount has not yet been disclosed.Frame launched its testnet in November this year, and its mainnet and native token FRAME are expected to launch on January 31, 2024. In addition to securing the latest investment, Frame also announced an airdrop event for active NFT traders on the Ethereum chain over the past two years.

ChainCatcher news, the decentralized finance platform Kresko announced on platform X that it has completed a $1.8 million strategic round of financing, led by Electric Capital and Zero Age Ventures, with participation from Oak Grove Ventures, MH Ventures, Polychain Capital, GTS Ventures, and others. The new funds will be used to accelerate the development of the protocol and the launch of the mainnet in Q4.According to the crypto data platform RootData, Kresko previously secured $2.35 million in seed round investment, led by Electric Capital and Polychain.