Sharding Primary Market Update (2024/8/26-9/1)

Shard Labs is an organization focused on promoting and accelerating Web3 projects, dedicated to identifying high-potential projects through research and consistently advancing them through narrative building. Sharding Capital is the investment arm of Shard Labs.

Welcome to Issue 46 of Sharding Weekly, featuring highlights on news, narratives, and primary market fundraising!

Highlights

▪️ Staking $NEIRO on Wasabi Protocol now offers higher yields and 2x Wasabi Points!

▪️ EntangleFi Webverse has been integrated into OmniPoints, enabling users to earn maximum points from assets and unlock parts of the ecosystem such as ZeroSum Play.

▪️ Soon Svm developer documentation is now live on Gitbook.

▪️ Claim 1,000,000 $PUFF on Bybit Web3.

▪️ Heurist AI GPU DePIN has processed over 1 billion requests, delivering AI APIs for real-world use cases to clients including Chasm Network, Gen Layer, and Decentai.

▪️ Timeswap Labs is now live on Berachain testnet, starting with Infrared Finance iBGT.

NEW

▪️ Stablecoin market cap hits record high, surpassing early 2022 levels.

▪️ A California judge ruled that the SEC's lawsuit against Kraken cryptocurrency exchange will proceed to trial.

▪️ Russia will begin using cryptocurrencies for international transactions next week.

▪️ The bankruptcy plan administrator for CELSIUS has distributed over $2.5B to more than 251,000 creditors (only $5M remains on-chain).

▪️ Ethereum Foundation released its spending overview.

▪️ MakerDAO has officially rebranded to 'Sky' and changed its official name to Sky Ecosystem.

▪️ OpenSea received a Wells Notice from the SEC and faces potential litigation over claims that OpenSea NFTs are securities.

▪️ The U.S. SEC approved a new rule requiring mutual funds and ETFs to report portfolio holdings monthly instead of quarterly.

▪️ U.S. GDP exceeds expectations — Q2 growth at +3%, above the +2.8% forecast.

▪️ Telegram CEO Pavel Durov has been formally charged by a French judge.

▪️ Donald Trump stated that if elected president, he would make the U.S. the "crypto capital of the Earth."

▪️ 1.7 trillion-dollar Wells Fargo is preparing to have its wealth advisors actively promote Bitcoin ETFs to clients from September onwards.

▪️ Elon Musk wins lawsuit alleging he manipulated Dogecoin and engaged in insider trading.

▪️ Central banks of Norway and Switzerland are increasing their investments in MicroStrategy.

▪️ Corey Caplan, co-founder of Dolomite, has been appointed advisor to Trump’s upcoming crypto project, World Liberty Financial.

▪️ Coinbase completes first-ever cryptocurrency payment between two AI agents.

▪️ Vitalik deposits 1,900 ETH into Aave.

Primary Market Fundraising

Infrastructure

▪️ Chain Bound raises $4.6M led by Cyber Fund.

Blockchain Services

▪️ Aiway World announces investment from Waterdrip Fund.

▪️ Space and Time DB closes $20M Series A led by Framework, FactionVC, Arrington, and Hivemind.

▪️ OneBalance raises $5M in seed round.

▪️ Myco.io raises $10M in Series A.

▪️ EMC Protocol raises $20M led by Amber Group and Polygon Ventures.

▪️ Legiondotcc raises $2M in seed round led by CyberFund.

▪️ Stable Coin raises $58M.

▪️ Kredete raises $2.25M in seed round.

▪️ Adot Web3 announces strategic investment from Aptos.

Chain

▪️ Soon SVM announces its investor lineup.

DeFi

▪️ Origami Fi raises $1.5M in seed round.

▪️ Solayer Labs raises $12M in seed round led by PolyChain and Hack VC.

▪️ EchelonMarket raises $3.5M in seed round led by Amber Group.

▪️ Timedot.fun raises $3M in seed round led by BHDigital Assets.

Social

StoryProtocol raises $80M in Series B ($140M total) led by a16z.

OpinionLabs announces investment from Binance Labs.

Stablecoin

▪️ LevelUSD announces $3.6M funding from Dragonfly and Polychain.

GameFi

▪️ TryNectar AI raises $3.9M in seed round co-led by Mechanism and Karatage.

▪️ TrialXtreme announces $11.17M extension seed round ($24M total) led by Blockchain Capital and Merit Circle.

▪️ Doublejump announces $10M Series D led by SBI Investment.

SocialFi

▪️ Mereo announces investment from Aptos Labs.

Shard Labs is an organization focused on promoting and accelerating Web3 projects, dedicated to identifying high-potential projects through research and consistently advancing them through narrative building. Sharding Capital is the investment arm of Shard Labs.

Shard Labs provides marketing, KOL outreach, fundraising, and other services, supporting blockchain startups in a forward-looking manner. Team members hail from the Middle East, South Korea, Japan, China, and Europe. With a professional team, deep industry expertise, and extensive network, Shard helps projects stand out in the Web3 space and gain broader recognition within the industry.

Website:

https://www.sharding.capital/shardLabs.html

Twitter:

https://x.com/ShardDXB

Author: chung