Crypto Notebook

Memo

SG memo - Discord

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https://www.linkedin.com/in/sukantag⁠

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-5 years in crypto, >20 yrs in coding (public private key software: product used by 19 governments, Novell Networks. Did this decades before blockchain). Past experience in finance, automated trading product. Had experience building L2 (Algorand, terra projects, Avalanche), worked closely with Harmony folks

-Building option trading platform. Multi-token basis, weekly options. Contacting for smart contract audit. Will be on Ethererum and harmony.

-In 3-4 months will expand to avalanche and algorand, or either polygon and solana. Goal is to over the whole year to expand to different platform

-Also working on a fixed-income product. Want to add fixed-income product to the platform. Automated strategic investment vault.

-Basically a platform or all types of trading instrument

-His platform aims at stable asset managing platform. For retail traders.

-Want to become the L2 platform for trading for all L1. Ambitious.

-Will build the smart engine that moves liquidity across chains. Didn’t directly answer how his team will achieve this ambitious goal though

-Pre-launch stage: Equity raise (convertible, 8M at 80M); will have a token to community and investor.

MeiT（1993年生，大学在日本学法律）

-要做Reputation system:

-why: 画像很不清晰（NFT user？Defi？shiller？）

-传统做拓展是用小团体地推，而很多项目想做这个找不到（Twitter KOL太难找）。地推模式也不够flexible，是一菜多吃的形式（DeFi的KOL list用在各种项目上）

-所以需要reputation system：谁在做什么？谁在搞什么

-现在做了toolbox：community management bot，airdrop功能（将offchain和onchain identity链接一起），referral工具（给dex用的referral system）

-有了数据后，去做info distribution，然后做reward。其中用我们的token去做交易媒介，capture value

-现在space里的founder有错误的认知；web3 social做不了，因为和钱没有关联。但Reputation database是需要的

-产品上会做近期更新，会看到一个单一product但包含所有工具

-CTO：初中同学（成都十外、IB在日本读），UCLA，Facebook（Top1% engineer）要出来

-前段重新找、运营是在圈子里找的团队（他们本来做了个marketing firm，接过100多个项目）现在fulltime join（4个人）

-团队主要5个人

-觉得用户的主要区分点在于地区和语言

Unveil memo

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Unveiled Seed Deck (March 2022).pdf

622 kB

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-infra for NFT finance: data analytics (valuation & Risk assessment), Loan market using NFT as collateral, Financial Product (NFT funds, Options)

-Loan platform Will be on Ethereum chain initially, prob will also go into L2.

-cofounders met in 2017 when joined early protocol stream (employee #10 & #11). Built an exchange, at one point was #4 in Korea.

-Thummim is not joining fulltime, but is moving to a school in US. At 50% of time will be spent on Unveil (full-time once seed round)

-Currently building a MVP, extracting onchain data and do analytics. They are also extracting off-chain data (like discord) and feed into Unveil model.

-at high level, for off-chain data, they will scrap data and deduce value

-NFT volatility valuation model: there is no standard model. People now are just using floor price and speculation. Unveil does not have a solution to this now.

-Current competitors’ platform is very primitive, the market is also new. Winning hands might lie in 1) APY, 2) appropriate valuation model.

-unveil will try to provide the most optimal term & apy to capture liquidity. UIUX and product will also be their focus.

$2M seed to build analytics & loan platform. Open to both ICO or equity, but prefer equity. Anywhere from 20M to 50M at valuation.

Memology Memo

Ruilin

-真驿站、斯坦福mse Master

-真驿站+斯坦福：当时报名了，参观了各种企业接触了huobi和web3圈子；当时没想到立刻创业。16年开始关注币圈

-上一份在币安，工程师。现在出来做自己的事

-20年加入币安、boom market is coming。20年也去了新加坡，所以就加入了。在币安没有做特别的部分：做binance us运营

-做基于avatar的messenger社交app，虚拟形象社交软件。创新：跟文字形式不一样，强调泛娱乐化（换装变嘴形），像是snapchat更好玩。

-和web3结合在于NFT、address、做好友推荐

-变现在于卖皮肤、上链条也好卖皮肤也好

-早起是chat，但后期可以想卖地and其他变现

-不同点在于

-web2+web3兼容：并不严格要求wallet，但可以接入地址。做mass adoption

why社交app：

Meitong：CEO，合伙人女生的idea、哈佛phd最后一年，本科北大计算机。去年nft很火会定期交流，但这个女生没那么关注币圈。之前两个人有尝试过一些nft project。MSE EVGR program master。做过了IP License的项目，卖给了韩国的publisher。做过一点consulting的工作（optimize truck 算法）。19年合作了20个NFT artist

Ruilin：见上

Zhen：CTO，北航本科，来google工作5年，之后跳槽去了做机器人算法

-结合X to earn（拉新手段）

-想做seed round equity，之后不排除token

Comment

-对于token和nft的工具性质理解的不错

-discord有几千人、先搭建了community

-创业有点“随性”的感觉 — 感觉是时候了，刚好又个可能性，所以就开始做了。是否坚定的创业存疑

提问

Q：大家不用web2社交媒体，为什么会用我们的app/long term我们会取代什么呢？

A：定位更像snapchat，长远来说去share类似的市场

Q：来我们这里，用户的动力是什么？

A：所有的-chat app其实对比过去20年没有任何变化。我们主打voice这个点。用户用这个产品，其实是很害怕&尴尬的一个过程（voice note）。我们希望用户可以自由表达自己，没有发voice的压力。也希望把社交做的泛二次元化，meme化。

Q：在北美环境里有多少app是语音-based？

A：每天在whatsapp上有7bn条 voice message的发送，文字大概在100bn。如果把7个bn做的better，他们可以correspondingly搭配到文字发送的行为。在我们app上可以voice to txt，也支持打字。

Q：你们怎么看每一代社交产品的兴起和衰落？（e.g. qq微信等是依赖于通信录（电脑没有），而snapchat是avatar）

A：【我们依赖于技术的推进，技术层面驱动；以及pfp自我表达的趋势】各类媒体都在富媒体化。现在手机还没有强到可以high fidelity的3D交互。但手机现在是可以承载一定量的富媒体计算，所以app是会使用这个性能。我们也算是上了web3.0这艘船，使用web3的revenue model & 精神。

Q：在用户体验端会有更多的拓展吗

A：二创吸引用户、减少社交压力（e.g. 没有push notif的non-intrusive message）、通过avatar制造meme

Q：冷启动怎么做？怎么gtm

A：可以通过二次创作，meme来传播app。influencer和内容驱动（digital artist）

Q：最开始上来的用户是基于什么呢？

A：可能是更偏熟人拉新。但因为有filter，你给同一个community的陌生人发语音也没有压力

Q：冷启动没成功，有什么原因？

A：用户可能觉的voice还是门槛太高了；大家可能也想把真实的自己给交代出去。Basically交互习惯是否吻合用户的需求。开发速度，以及最开始的feature，能否让用户觉得足够的好玩

Q：我们会发token吗？

A：会；会成为游戏里买皮肤的虚拟币，但取决于我们最后跑出来是什么样子。现在找product fit，然后再做token上的一些设计。现在可以分享的：要去买皮肤，买customizable NFT等会有tokne交互。和digital artist合作也会有token utility。【tokenomics还没有特别多的想】

Q：你认为我们的approach和wallet-to-wallet messaging 是什么关系？Wallet的想法

A：w2w很native，但我们不知道wallet底下是谁，所以没有发messenger的必要性。但从社交的角度我们会更加的有意思，给用户带来更高的社交utility。我们会让用户Connect Wallet，所有资产on-chain；希望做成推特那种：web2可以用，web3可以verify 头像。

Q：融资情况？

A：融资equity，要1M post money 10M。大家会全职出来做这个，May 2022就可以都出来了。

个人想法：团队其实并不crypto native但是很professionally put together + chill

Nexus Protocol

Found: Stanford ‘23, Daniel Marin, CS, minor in Math.

-Project advised by Dan Boneh.

-got into crypto in 2017 bull, got in love with Ethereum. at that time was in HS, and more like a math guy. Then into programming side of crypto in 2020/21, in part due to ethereum. Last time worked at Google and worked in a entrepreneur program. At google one of the guy was a stanford alum, owns a crypto venture, opened his eye to ecosystem. Then took 251, got to know Dan Boneh, coded the 251 NFT (art done by another TA). Then got into 255 with Dan Boneh, then did a senior project for CS major, got into zk and asked himself, how to solve interoperability: maybe bridge merkle tree proofs; turned out to be technically difficult. The project evolved into different tools, and into Nexus Protocol

-We aim at create a centralized oracle network, which is a large scale oracle network that achieve consensus on off-chain events and relays that information into blockchain.

-Difference: a large decentralized oracle network brings security to bridge.

-A new kind of form is LayerZero: their validator set is Chainlink. Instead of 9 validators in Ronin chain (example), it has far more and is based on reputation. Still, it still is a dangerous bridge.

-We are building this decentralized oracle network. it scales to the thousands and tens of thousands of nodes to make mass more secure. → anyone can run the node. Anybody can join and leave, but must join with a stake.

-One would still need to run a node (at least a light node)

-Incentive: every time a computation is scheduled, one has to pay (just like ETH gas). We also have a “gas” for Nexus protocol. Let’s call it Nexus gas → Nexus is not a blockchain but a stateless network of computers. Many data are temporary, so not kept. This “gas” is spread to the entire network.

-We are also building, not just an oracle we have control with, we are building a general purpose distributed system. Builders can build on top of the infra of Nexus Protocol: one’s own Chainlink CCIP, for example.

AstroX

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AstroX202204ZF.pdf
13 MB
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建设自我主权(self sovereign identity) infra，目标1bn用户。Deal来源为portfolio review. Brutoshi的ape是4月买的，within 1ETH的价格

-SSI本质上是管好自己的key，但key management要用户自己管理，很麻烦

-在做的事是identity & key aggregator

-之后会做social recovery - all based on multi-sig smart contract wallet

-以及要做decentralized 1Password - everything Self-sovereign User Storage

-目前是在Dfinity，22年下半年增加btc，明年ETH。选dfinity的主要原因是私钥碎片化+multi-party computation (智能合约可以做门线迁移/门限签名），设计十分不错

-cross-chain：用了Dfinity的BLC去做btc和eth，剩下的弄adapter就好了

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Zeeka Blaockchain

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Zeeka Investment Highlights.pdf

94 kB

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Keyvan Kambakhsh⁠

founder

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Zeeka Network - Whitepaper - HackMD⁠

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Nathan Hill-haimes -> serial entrepreneur, doing the business part

600 bytes per block (proof is constant)

Initially want not to create a complier or language. Will utilize R1CS and Rust and everything StarkNet ecosystem to help build up. -> L1 ppl are competing for coder, and we just don’t want to lose at early stage.

Not sticking to one proof mechanism (e.g. PLONK, stark)

Keyvan has a background in optimization. Calculation is 137M constraints in 2 minutes, so TPS is around 1k transactions in one proof.

In this very early stage we need some strategic investor to guide (from business and technical side).

Testnet in 300 days but beating it currently: 300 is conservative style. Want to raise 500k dollars, a little more if want, 10% for this stage. Valuation 5M. No LP led investor now.

DeBond

-The standard for decentralzied finance

-first with bond, then other assets

-problem: securitized asset do not really exit yet; some bond exists but there is no secondary market.

-Solution:

ERC 3475 token & secondary market for trading customized bond

-bond: because they play a stable tool in tradfi. More risk averse people can participate with them. Offering fix-rate Debond and payment of certain interest.

-NFT valuation: there would be an our own algo for that; NFT collateralize is a later platform.

-Users: start with existing DeFi users; move from retail to more institution and market makers. Then we will also move to startups to help them raise funds. (A few French Banks (general company in translation) are actually issuing bond on blockchain). Risk-takers can also take Debond because they will have floating-rate bond they can use.

-Structure:

Accept all kinds of token, go into the Multi-layered Pool built by Debond, which outputs bonds.

-Multi-layered Pool involves two token: gov token and Debit (debund index token). Interest payments will be made in Debit, users can elect to take collateral out in debit or original asset (will offer an choice to user, certainly in debit-only it is risky; people can also get back the original collateral AMOUNT, regardless of cash value up or down). Gov token = voting, revenue sharing.

-Users now can only use digital assets to buy these bond. Later on maybe when regulation is ready we can go with cash. Collateral ratio depends on the type of credit rating you want to achieve, not going to overcollateralize the bond (~20%-80%). The issuer of bond issuer can be DeBond + participant. Credit system will take in credit history and transaction history into consideration; to become a bond issuer they will involve a risk analyst.

Question for Mate for follow up with team:

How are the liquidity in the multilayered pool curated.

Structure:

Private B round now, 13%, shooting for 4.5M this round, valuation = 20M. Bixin Venture was in for Seed and Private A, they made a commitment to join B round as well. Lotus Capital, Hot DAO, Collin Star, Spark Digital Capital, Wave Capital. Flexible with deal closing (token, equity; depends on our preference). Smallest ticket size is $200k but negotiable.

Founders met in Paris. Song-Bo is stopping PhD and going full time here.

CommerceFi

-Want to focus on Gen-Z initially

-Hollister want to do a campaign with them

-Built on polygon.

-Raising 3M for 10% (have 1.6M left; committed a soft circle. David Cheung (Ham Patel), Fundamental, Fenbushi, London real network, a lot of angels), token $COMM

-Building a tutorial program to educate and onboard users

-Lead designer is ex-alibaba.

BlockchainAds.

Founder 10 yrs in markting

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