| Level | Aug 29, 2024 | $3.6m | Private | Stablecoin | first stablecoin protocol backed by restaked dollar tokens | Polychain Capital, Dragonfly | | | Robot Ventures, Pier Two, EIV, Global Coin Research, Balaji Srinivasan, Julian Koh, Sidney Powell, Jeff Feng, MrBlock, GCR |
| Blackwing | Mar 7, 2024 | $7.5m | Seed | L2 | modular layer 2 blockchain designed for liquidation-free leveraged trading for any asset | Hashed, gumi Crypto Capital | | | Alpha Lab Capital, Coin98 Ventures, CyberX, Saison Capital, K300 Ventures, DCF God, Fiskantes, 0xbrent, icebergy, Rooter, Anand Iyer, Julian Koh, Tom Howard, Andy, naniXBT, Cygaar |
| INIT Capital | Feb 21, 2024 | $3.1m | Seed | DeFi | Building Liquidity Hook Money Market | Electric Capital, Mirana Ventures | | | Maelstrom, Robot Ventures, Nomad Capital, Tangent, Bankless Ventures, Selini Capital, Faction Ventures, Julian Koh, leptokurtic, Tai Panich, David Choi, Ashwin Ramachandran |
| Ethena | Jul 17, 2023 | $6m | Seed | DeFi | startup developing the first-ever ‘internet bond’ and a new Ethereum-based stablecoin secured by derivatives | Dragonfly Capital | | | Maelstrom, Deribit, Bybit, Mirana Ventures, OKX Ventures, BitMEX, Gemini, Lightspeed Faction, Huobi Ventures, Nascent, BlockTower Capital, Delphi Digital, Wintermute Ventures, GSR, CMT Digital, Tangent, Finality Capital Partners, No Limit Holdings, Cobie, Anthony Sassano, Julian Koh, Jai Prasad |
| Ambient Finance | Jul 11, 2023 | $6.5m | Seed | DEX | Zero-to-One Decentralized Trading Protocol | BlockTower Capital | | | Jane Street, Circle Ventures, Tensai Capital, Naval Ravikant, Yunt Capital, Susa Ventures, Quantstamp, Hypotenuse Labs, Julian Koh, llllvvuu, Dogetoshi, afkbyte, Jai Prasad, Don Ho |
| Aurigami | Feb 15, 2022 | $9.5m | Private | DeFi | Liquidity protocol | Dragonfly Capital, Polychain Capital | | | Mechanism Capital, Amber Group, Coinbase Ventures, Jump Crypto, Alameda Research, Lemniscap, QCP Capital, DeFi Capital, Folius Ventures, D1 Ventures, Genblock Capital, Alex Shevchenko, Julian Koh, Bobby Ong, TM Lee, Alex Svanevik, Matthew Tan, Santiago Roel Santos |
| Element Finance | Oct 19, 2021 | $32m | Series A | DeFi | Element is an open-source protocol that offers BTC, ETH, and USDC at a discount for fixed and variable yield markets. | | | | A.Capital Ventures, Advanced Blockchain, Alex Svanevik, a16z, Anthony Sassano, Cyrus Younessi, Darren Lau, David Hoffmann, Dean Eigenmann, Ethereal Ventures, Femboy Capital, Fernando Martinelli, Hart Lambur, Julian Koh, Kain Warwick, Marc Bhargava |
