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To the DeFi community, This week, Multicoin raised $430 million for “Venture Fund III,” the company’s third venture capital fund in the crypto space. The fund will be allocating between $500k and $25 million to early stage projects, with up to $100 million toward more established companies. Multicoin’s focus for the fund is web3 infrastructure, DAOs and “proof of physical work” – protocols that incentivize verifiable work to build real-world infrastructure. Multicoin Capital has secured $430M to invest in crypto startups These are 9 areas they're investing on ? — Blockworks (@Blockworks_) Jul ..read more

To the DeFi community, This week, Aave Companies has submitted a proposal to the Aave governance forum for the creation of a new stablecoin, called GHO. The GHO stablecoin would be over-collateralized in a similar fashion to Maker’s Dai, with users being able to mint the token against assets they have supplied to the Aave protocol. Assets backing GHO would continue to earn yield while being used as collateral. Aave Companies says the vision behind the stablecoin would be to push adoption through Ethereum Layer-2 platforms. 1/ Calling all GHOsts ?  We have created an ARC for a new decentr ..read more

To the DeFi community, This week, crypto exchange FTX is reportedly looking to acquire centralized lending platform BlockFi for a sum between $25 million and $50 million. Sources believe the deal is expected to complete by the end of this week, however BlockFi CEO Zac Prince has denied the $25 million figure and FTX has refused to comment on the deal.  FTX had already recently provided the distressed company with a $250 million loan to keep it afloat. Lots of market rumors out there – I can 100% confirm that we aren’t being sold for $25M. I encourage everyone to trust only details that y ..read more

To the DeFi community, This week decentralized derivatives platform dYdX decided to create its own applicaiton-specific standalone chain, as part of the Cosmos ecosystem. The move will also complete the decentralization of the platform – marking an important milestone for dYdX once the transition is complete. dYdX developers reasoned that no L1 or L2 solution they found could handle the throughput required to run a competitive trading engine, leaving Cosmos chain customizability as the best option for its needs.  We’re excited to announce that dYdX V4 will be developed as a standalone Co ..read more

To the DeFi community, This week stablecoin issuer Circle has announced the launch of Euro Coin (EUROC), a new stablecoin pegged to the euro. The new token will be available as of June 30, beginning as an ERC-20 token on the Ethereum network and expected to expand to other blockchains later in the year. 1/ CIRCLE LAUNCHES EURO COIN: Today, we announced our 2nd major fiat-backed stablecoin, Euro Coin, which went live on Ethereum mainnet, and will be available to mint and redeem on June 30th. https://t.co/vPZkItL0Fu — Jeremy Allaire (@jerallaire) June 16, 2022 Centralized lending platform Cels ..read more

To the DeFi community, This week Ethereum completed its Ropsten testnet merge – a test-run of the network’s most major upgrade to date. The merge will now be monitored for any inconsistencies or bugs, with some developers deploying their dApps on the testnet to assist with the process. Additional merge tests will be run on the Sepolia and Goerli testnets before the transition is finally executed on the Ethereum mainnet. Ropsten Merge was a MAJOR success If this were mainnet, I’d be jumping for joy ?Congratulations to everyone involved? Quick discussion and contextualization of issues seen dur ..read more

To the DeFi community, This week Binance’s venture capital arm, Binance Labs, raised $500 million for a new web3 investment fund – its first using outside investment. DST Global Partners and Breyer Capital backed the fund, along with a number of private equity funds, family offices, and corporations. The fund is looking to support projects that will drive the adoption of web3 and blockchain, covering investments at the incubation, early-stage venture and late-stage growth phases. Continue to invest in the industry. https://t.co/GEJFCUmpLL — CZ ? Binance (@cz_binance) June 2, 2022 Ethereum i ..read more

To the DeFi community, This week a16z has raised a mammoth $4.5 billion for its fourth crypto fund – also its largest to date. The fund will be split into $1.5 billion for seed investments and $3 billion for venture financing. Overall, the fund will focus on web3 gaming, DeFi, decentralized social media, zero-knowledge proofs, self-sovereign identity and more. Today we are announcing a16z crypto Fund 4. We’ve raised $4.5B to invest in promising web3 founders and startups, bringing our total crypto funds raised to more than $7.6B. ? https://t.co/w5fr6QN0Xb — AriannaSimpson.eth (@AriannaSimpso ..read more

To the DeFi community, This week the Terra community is currently voting for or against a fork of the network, with a potential new chain that removes the UST stablecoin from the equation. Although the current governance voting is skewed highly in favor of the fork, a large proportion of the community appears to be highly against it – instead looking for a large-scale burn of existing LUNA tokens on the original chain. A preliminary vote in the governance forum was highly against the fork, with more than 90% of votes being against it. Time to vote #LUNAtics ? #TerraIsMoreThanUST https://t.co ..read more