ChainCatcher news, the MEV execution platform Mevvy announced the completion of a $2.8 million seed round financing, led by Multicoin Capital, with participation from Chapter One Ventures, Hypersphere, and several strategic angel investors. Among the investors are Ondo founder Nathan Allman, Pendle founder TN Lee, Ethena founder Guy Young, Axelar founder Georgios Vlachos, as well as Jeffrey Feng and Jay Jog from Sei Network.Mevvy is dedicated to simplifying the technical complexities in blockchain transaction ordering and execution, making MEV (Maximum Extractable Value) more accessible for traders. Mevvy plans to use this round of financing for product development, chain expansion, and strategic partnerships with DeFi protocols.

ChainCatcher news, Multicoin Capital founder Kyle Samani stated in his latest Solana investment paper that Solana is the leading public chain supporting internet capital markets. Furthermore, Solana, as a technology, can outperform major traditional finance (TradFi) participants (including NYSE, NASDAQ, CME, JPM, Goldman Sachs, and Morgan Stanley in financial markets, as well as Visa and Mastercard in payments) on core performance metrics such as latency, while retaining core blockchain attributes that TradFi has never offered (atomic composability and permissionless access for users, developers, and validators). Most importantly, the Solana ecosystem is capable of achieving both a 90-99% reduction in end-user financial service fees and a higher total market capitalization than existing TradFi enterprises.Samani also mentioned that the Solana ecosystem is fully committed to realizing the vision of internet capital markets. Solana simultaneously improves execution for market makers through conditional liquidity and enhances acceptance through multiple concurrent leaders. Additionally, the Solana ecosystem is horizontally expanding its TAM (by supporting a wider range of TradFi and crypto-native assets) and vertically expanding its TAM (by capturing some MEV from the numerous financial services built on Solana).

ChainCatcher news, Multicoin Capital co-founder Kyle Samani stated that in 2016, he entered the crypto space through Ethereum, attracted by its vision of permissionless finance and smart contracts. In 2017, Ethereum's market cap skyrocketed 100 times in a year, setting the record for the fastest to reach a market cap of $100 billion in history.However, at the Devcon 3 conference in November 2017, Vitalik's keynote speech completely omitted any mention of scaling solutions, which left Samani deeply disappointed. He pointed out that the Ethereum Foundation (EF)'s passive attitude and lack of urgency regarding scaling issues led him to lose confidence in Ethereum. He believes that seven years later, EF still faces problems such as a disconnect between leadership and user needs, as well as a lack of clear development direction.

ChainCatcher news, Multicoin Capital has released a Solana improvement proposal, suggesting to adjust the SOL issuance rate to a market-based solution. The proposal states that if the staking rate of SOL exceeds 50%, the issuance will decrease, thereby preventing staking by lowering the yield; if the staking rate of SOL is below 50%, the issuance will increase to raise the yield and encourage staking. The minimum inflation rate is 0%, and the maximum inflation rate will be based on the current Solana issuance curve.

ChainCatcher news, according to The Block, Multicoin Capital co-founder and managing partner Kyle Samani stated in an interview with The Block that Multicoin Capital is actively expanding its investments in DeFi applications, particularly within the Solana ecosystem, which has outperformed Ethereum and second-layer ecosystems on key chain metrics this year. "We expect this trend to continue, as more users, capital, issuance, and activity migrate to the Solana ecosystem, Solana-based applications and protocols will be the big winners in the next cycle."Samani also pointed out that Ethereum will face ongoing challenges and may "even fall into a long-term decline," as it is under intense competition from Solana and other faster, cheaper blockchains. He added, "Unless Ethereum can enhance its competitiveness, developers, users, and capital will turn to other chains that better meet their needs."Additionally, Multicoin is optimistic about stablecoins, with Samani viewing them as "possibly one of the greatest technological and financial innovations of our lifetime." He stated, "Stablecoins have the opportunity to become giants by 2025, as everyone in the world craves dollars, and stablecoins are the most efficient way to obtain dollars. The design space is vast, and we are still in the early stages of the adoption curve."

ChainCatcher news, Multicoin Capital co-founder Kyle Samani posted on X that currently Helium, Hivemapper, and io.net have generated over $50 million in total. By 2025, the revenue from these three projects will exceed $100 million.Along with many other DePIN projects on the Solana chain, 2025 will be remembered as the breakthrough year for DePIN.

ChainCatcher news, Mike Dudas, founder of 6th Man Ventures and former founder of The Block, stated on the X platform that he recently saw the performance report of Multicoin's fund, which has achieved an 18.6 times return since the market bottomed out in 2022.In response, a user inquired how much of that return figure is realized profit/liquid status and how much is unrealized/locked status. Dudas indicated that this is a liquid fund, and only a very small portion of the assets have poor liquidity; he was also quite surprised when he saw this report.Additionally, another user asked about the fund's holdings composition. Dudas revealed that SOL is a core component, but there are also some Solana ecosystem tokens and other tokens.

ChainCatcher message, the no-wallet L1 XION announces the launch of the "Prometheus Legend" on-chain celebration, which will last for several months. The event offers an immersive experience, allowing early bird users to deeply engage in XION mainnet activities and ecological projects to earn "Karma" points, and participate in daily activities, staking, competitions, art, application releases, and on-chain community activities alongside numerous users, developers, creators, and artists. Early access is now open, with the first phase limited to invited participants.XION is the first no-wallet L1 blockchain designed specifically for consumer adoption through chain abstraction technology. By implementing account abstraction, signature abstraction, fee abstraction, interoperability, and other features at the protocol layer, XION empowers developers to create secure, intuitive, and seamless user experiences. Regardless of technical background, everyone should have equal access to true ownership. Previously, the project raised over $36 million from top investment institutions such as Multicoin, Animoca, Circle, Hashkey, Arrington Capital, and Spartan.

ChainCatcher news, according to Cointelegraph, the newly appointed crypto head of the Trump administration, David Sacks, is a staunch supporter of Solana and an investor in the crypto investment firm Multicoin Capital.In October 2021, David Sacks publicly disclosed in episode 50 of the "All-In" podcast that he purchased a large amount of Solana (SOL) at a discounted price. He stated that he did not sell his SOL after the FTX collapse and mentioned that Solana has the potential to replace Ethereum as the preferred blockchain platform.Previous news reported that Trump appointed David Sacks as the head of the crypto sector. The VC founded by David Sacks has invested in crypto projects such as dYdX and Lightning Labs.

ChainCatcher news, the asset trading platform Drift on the Solana chain has completed a $25 million Series B funding round, led by Multicoin Capital, with participation from Blockchain Capital, Primitive Ventures, and Folius Ventures.Cindy Leow, co-founder of Drift Labs, stated that her goal is to build a suite of financial service tools on top of Solana, including spot and derivatives trading as well as prediction markets, to make Drift "the Robinhood of cryptocurrency."According to RootData, Drift Protocol is an on-chain asset trading center based on Solana, offering services such as Perps and prediction markets.

ChainCatcher news, Kyle Samani, co-founder and managing partner of the cryptocurrency investment firm Multicoin Capital, tweeted that he will deliver a speech titled "Why SOL Will Flip ETH" on the main stage of the TOKEN 2049 conference (OKX Main Stage) today.

ChainCatcher news, according to CoinDesk, the internet infrastructure network Pipe Network, supported by crypto incentives, has completed a $10 million funding round led by Multicoin Capital.David Rhodus, CEO of the startup Permissionless Labs building Pipe Network, stated that in the vision, people can quickly scale CDN nodes in the most needed areas by borrowing existing computing power. Their computers will help end users access cached content, which may be difficult to deliver quickly due to distance from the hosting servers.Pipe Network will be built on the Solana network and plans to launch its testnet at the Breakpoint conference in Singapore.

ChainCatcher news, according to official sources, the Solana ecosystem edge computing open layer Gradient Network announced on the X platform that it has completed a new round of financing, with participation from Pantera Capital, Multicoin Capital, Sequoia Capital, among others. The specific financing amount and valuation data have not yet been disclosed.It is reported that the new funds will be used to promote its decentralized protocol and the development of computing power and staking solutions in the blockchain network.Gradient Network is an open layer for edge computing on Solana, aimed at making computing inclusive, accessible, and affordable for everyone.

ChianCatcher news, renewable energy company Fuse announced the completion of a $12 million strategic financing, led by Multicoin Capital, bringing the company's total funding to $90 million to date.According to the press release, the company plans to use the funds to launch Project Zero, a renewable energy DePIN project: "As a comprehensive energy company, Fuse provides distributed energy (DER) installation, electricity trading, and electricity retail. The company currently manages 18 megawatts of renewable energy projects, with another 300 megawatts of renewable energy projects in preparation. Fuse Energy, a subsidiary of Fuse, is a vertically integrated electricity retailer."