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Topics Covered

1. Private Equity Crypto Interest

2. Corporate M&A by Crypto Giants

3. Bringing Web2 to Web3

Full Analysis📝

The cryptocurrency space has matured and has become more sophisticated over the years. Venture capital investment into blockchain technology has been underway for some time. However, it appears that there has recently been an increase in M&A activity in the crypto space.

Earlier this year, Stripe acquired Bridge, a stablecoin payment platform. It is the largest crypto acquisition to date and demonstrates Stripe’s willingness to enter the growing stablecoin market.

More Web2 firms like Stripe are taking steps to compete in key narratives, like stablecoins.

Additionally, as crypto becomes more accepted and explored as a viable asset, more companies will look to be involved in the crypto space. Existing companies involved in crypto like Robinhood look to make acquisitions to expand their crypto market share.

Existing companies in crypto will continue to leverage acquisitions to stay ahead of the competition, while new Web2 entrants will make acquisitions to enter the space.

One company in the crypto industry that has been significantly active in the M&A realm has been Chainalysis. The firm recently acquired both Alterya and Hexagate in the last 30 days.

For context, Chainalysis has secured over half a billion dollars in funding during its 11-year company lifecycle.

The larger companies in the crypto space will likely follow suit in acquiring smaller companies as they push to add to their product suites and/or penetrate new markets that will ultimately drive revenue.

Companies like Chainalysis will likely be looking to exit so new revenue streams make them more appealing for acquisition prospects or for entering the public market with an anticipated crypto surge with the arrival of the new Trump administration.

Additionally, in every crypto cycle, new trends emerge. The intersection of Web3 technologies and AI is a big topic. AI is a major point of focus for the Trump administration as seen by the 500 million dollar USD commitment made by SoftBank, OpenAI, and Oracle.

Hey there! I hope you are enjoying this content about Crypto Consolidation, which not only conceptualizes the current state of M&A in crypto but also explores the key dynamics that will be crucial for investors, founders, and market participants navigating this rapidly maturing landscape.

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In a positive regulatory environment for crypto, it is imaginable for M&A activity to increase, especially for that sweet spot of the intersection of AI and Web3.

In Web2, private equity firms like Vista Equity Partners are able to acquire software companies and then “flip” them for a significant profit.

However, the crypto market is still only 16 years old and is a new market relative to other software products. Despite this, the industry has seen traditional PE investors dabble into the crypto markets.

For example, KKR invested in Securitize, a platform specializing in tokenized securities.While the renowned firm didn’t acquire Securitize, its investment signifies the positive perception the firm has of tokenized assets.

There have been other examples of firms like Hamilton Lane and Partners Group who have tokenized their funds, but web3 appears to still be too nascent for these firms to have buy out strategies.

As we observe this trend of acquisition within the crypto industry, it's worth noting that venture capital exits have significantly decreased since their peak in 2021, as highlighted by Santiago R. Santos.

He mentioned, "VC exits are down massively since 2021. This trend of acquisition within the crypto industry’s venture capital exits have significantly decreased since their peak in 2021…VC exits are down massively since 2021. The aggregate value of the 2,040 exits in 2021 totaled $841.5 billion - almost 6X the number posted in 2024".

This shift could be steering investors towards M&A as a more viable strategy for realizing returns, especially in a market where IPOs like those of UiPath, Rivian, and Coinbase have not all maintained their initial valuations.

This scenario provides a fertile ground for both Web2 and crypto-native companies to explore acquisitions to strengthen their positions or enter new markets. It’s inspiring for crypto that Coinbase is the only one who is currently trading above that price.

Building on this trend, Santiago R. Santos has introduced his new venture, Inversion Capital, which brings a unique value proposition to the crypto M&A landscape. Inversion Capital plans to acquire and transform traditional businesses that can benefit from business model transformations by adopting crypto mechanisms. As a betting man, it seems like Inversion aims to attract private equity partners familiar with Web2 businesses, utilizing Web3 mechanisms to scale these traditional enterprises beyond standard private equity strategies.

By transitioning traditional businesses to Web3 models, Inversion can enhance scalability and efficiency, making these companies more attractive for resale to private equity firms accustomed to Web2 operations. This strategy not only modernizes the businesses but also aligns them with emerging technological trends, potentially increasing their market value.

The evolving crypto landscape presents opportunities for both traditional and crypto-native investors. While venture capital exits remain slow, M&A is emerging as a key strategy for liquidity and growth. Private equity firms that once hesitated are now exploring crypto-native acquisitions, and companies like Inversion Capital are bridging the gap between Web2 and Web3. If this trend continues, crypto M&A may not just be a passing phase—it could become the dominant framework for scaling and institutionalizing the next wave of blockchain innovation.

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Topics Covered

1. Origins of ICOs

2. Democratizing Investment

3. Equity Retention for Founders

Full Analysis📝

In 2014, the most recognizable Initial Coin Offering (ICO) in the cryptocurrency world occurred when Ethereum launched its token. Ethereum’s ICO resulted in 18.3 million USD in non-dilutive capital for the team. Rounds like these were traditionally reserved for venture investors.

These are the same venture investors that retail investors have had a sharper eye on this year due to valuations perceived to be too high.

Keep in mind that VC investors are not bad for the crypto industry. Good VCs are very helpful to founders and can open up doors and be an asset in many cases.

However, VC incentives have been misaligned with retail incentives which caused an uproar about some token launch valuations this year.

There have been plenty of discussions on X that have ridiculed token valuations at launch. This is because retail broadly felt the return on their investment is not economically feasible.

Broadly, ICOs provided broader access to high-growth investment opportunities to a global pool of investors. Not only does this increase the odds of a start-up raising large sums of money, but it also can create a very invested community.

Let’s focus on going global briefly.

An ICO serves as a solid marketing plan to attract users from all around the world. With the online tools that we have, it is easier to connect than ever before. Thus, if token prices are somewhat correlated to the performance of the company, token holders can evangelize the project.

If web3 startups are serious about creating long-term businesses, creating value for their token holders is essential. Not only do token holders create liquidity for the projects, but they also have the opportunity to convert into customers that drive sales.

For founders, ICOs present an opportunity for them to retain equity in their companies.

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Think about it…

All things being equal, if you are a founder and had to give 20% of your company for capital, would you do it if you could sell tokens and not give equity?

The founder likely wouldn’t.

The above example assumes that no additional value is being received from a venture investor.

Outside of the equity terms that come with taking on venture capital, ICOs present an opportunity for overlooked founders.

These founders may not be investible by traditional VC standards. Thus, if these projects gain large community followings, they can prove their project’s value on the open market.

This article portrays ICOs as an avenue of founder opportunity. However, US regulators failed to see it that way as the current administration has deemed all cryptocurrencies to be fraudulent.

While there have been instances of fraud (Newsflash: Fraud Exists in Traditional Finance Too), those bad actors do not represent the current state nor the entirety of the crypto industry.

Thus, top crypto companies have had to restrict token sale offerings to investors outside of the United States. As seen below, it can be estimated that over 15 billion USD was lost from US investors.

As we see, the crypto space has a ton of opportunity and ICOs will enable US investors to fully participate in the upside of the crypto markets. This can drive billions of dollars in capital into emerging assets that have high upside potential and low barriers to entry. For some of these new market entrants, life-changing returns are a possibility.

This democratization of investment opportunities has the potential to unlock unprecedented financial access for global investors seeking high-growth potential.

Mary’s tweet rather shows that the demand for ICOs is resurfacing and even equates ICOs to the original premise of the cryptocurrency industry to provide permissionless financial opportunity. With the success of tokens like Ai16z, Hyperliquid, and even memes, ICOs represent a broader path forward that likely will change the broader investment landscape.

For starters, venture investors will have more competition to secure tokens. This will benefit founders as it could drive larger purchase amounts which will provide more liquidity to teams. However, if these venture firms purchase too many tokens, they may have too much power when it comes to governance decisions as votes are typically determined by token ownership.

For institutional investors, they would also be able to take risks off the table and provide real returns to their limited partners (LP) which is the model of how they get paid. These returns will keep LPs at ease and can also enable them to create and execute portfolio strategies which can lead to even higher returns for LPs.

Ultimately, the liquid nature of ICOs enables a more dynamic and accessible investment ecosystem, allowing for faster capital deployment, increased market participation, and potentially higher returns for both retail and institutional investors.

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Topics Covered

1. Decentralized Energy's Role in Resilience

2. Emerging Decentralized Energy Providers

3. Future of Decentralized Energy Solutions

Full Analysis📝

The intersection of AI and Web3 with energy systems presents a transformative opportunity for sustainable and decentralized energy development.

Exorbitant energy is required for AI compute and to run blockchains.

Ultimately, the compute requires electricity to function. While electricity is essential for running compute infrastructure, it becomes increasingly significant as the amount of data processed grows. Efficient energy management is crucial to keep operational costs low, and as data demands scale. More advanced energy solutions or optimizations are necessary to ensure both cost-effectiveness and sustainability.

New forms of energy production will be pivotal not only for the named sector, but also for AI as well. Ben Horowitz mentioned in a recent podcast, “If we put AI on the power grid, it will not work”.

Additionally, the ethos of crypto is widely centered around the concept of decentralization. However, from the enterprise side of things, it is evident how decentralization would have a positive impact on business practices. Earlier this year, the incident between Crowd Strike and Microsoft led to incredible mayhem with regards to the airline and other industries affected.

The absence of decentralized systems in this case led to the loss of over five billion dollars.

Now, let’s imagine…What if all the energy in a country was concentrated?

There could be an instance where certain areas would not have power. In a data-first world that we live in today, productivity could be slashed significantly due to the disruption of energy. That is a possibility, which is why decentralized energy systems are necessary.

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Decentralizing energy can also drive more safe and more resistant outcomes to adverse forces. The current Russian and Ukraine conflict is a perfect example of why decentralizing energy is important.

Earlier this year, Ukraine Prime Minister Denys Shmyha mentioned “Energy resilience is one of our greatest challenges this year”. As Prime Minister Denys Shmyha mentions this, it brings the point that decentralized energy is very important for economies to have as it can make them more resistant to threats.

With this in mind, AI providers, such as the Artificial Superintelligence Alliance (ASI) which are web3 native, will likely choose decentralized benders for energy producers.

However, centralized providers have a head start on the market.

They probably will continue to sustain your current market share until the centralized options disrupt the industry. Thus, these web3 platforms will be getting ahead of the game but won’t solely rely exclusively on decentralized energy vendors. While that may be the case, adding decentralized energy providers to AI can reduce vulnerabilities and potentially be a cost-effective switch in the future.

Powerledger is a company that has been focused on decentralized energy solutions since 2016. They have over 30 clients globally with seemingly strong traction in the Asia Pacific region (APAC). This traction in APAC may prompt Powerledger to expand into other emerging markets.

There is evidence of Powerledger being interested in expanding in the Latin America region. In 2021, Power Ledger partnered with EBP, SER Patrimonio, and the University of Queensland to launch a project in northern Chile's isolated communities of Mamiña, Parca, and Iquiuca.

As a part of this partnership, the project will implement solar microgrids, water monitoring systems, and sustainable waste solutions to improve resource management in energy, water, and waste. The outcome of this project aims to allow local businesses to trade excess rooftop solar power, optimizing energy use in areas that typically rely on diesel generators over the course of 3 years.

It sounds like the project is still active, which is a positive for the community in northern Chile.

The Powerledger team has also announced that it has expanded into the Solana Ecosystem as well. Solana has made compelling steps into the broader enterprise sector as we’ve discussed with its partnerships in the financial space.

This decentralized energy space is growing.

Daylight is a recent decentralized energy company that has gained investment from top quality investors. The A16z backed project is focused on enabling households to drive power to the energy grid through their full service electrification platform which includes solar panels and home battery installations currently. In the future the company will offer hot water heaters and heat pumps which will all lead to energy savings for adopters.

With this type of energy being sustainable, it could be potentially used as an asset to power data centers that are central to supporting the AI economy.

Glow is also another project that has been recently funded by very reputable Web3 investors such as Union Square Ventures. Glow is focused on driving the progression of solar energy and has contributed to onboarding 63 new solar farms globally which have created nearly 2m kWh of electricity. In India, the onboarded solar farms are powering 34,000 homes.

As big tech AI players continue to compete for market share, they are investing in data centers in India. Microsoft is set to invest $3.7 billion in building data centers in Telangana, South India, with a total capacity of 660 megawatts. Concurrently, Amazon plans to invest approximately $12.7 billion in cloud infrastructure in India by 2030. This significant investment reflects the growing demand for cloud services and data center facilities in the region, as both companies aim to enhance their technological capabilities and support local businesses. Additionally, ST Telemedia Global Data Centres (STT GDC) plans to invest $3.2 billion (INR 26,000 crores) to expand data center capacity by 550MW over the next five to six years. This investment will nearly triple STT GDC India’s current IT load capacity of 318MW across 28 data centers in 10 cities.

As AI innovation begins to evolve and take shape in various forms, companies are looking for markets that will make it easier for large data centers to run with lower costs. For example, building data centers in India as mentioned above is likely more cost effective for infrastructure development as opposed to building them in the United States.

Powerledger, Glow, and Daylight have the opportunity to capitalize on the data infrastructure that is being built in India to further decrease costs for the rising energy demand. These three providers and others provide the ability for people in markets near data centers to not only receive individual benefits, but it also mitigates the opportunity for external threats to impact the AI performance via decentralized energy. Becoming energy resilient is crucial for both the private and public sectors which is a major opportunity for decentralized energy providers. The next steps for Powerledger, Glow, and Daylight will likely involve forging partnerships with local governments and businesses to implement scalable decentralized energy solutions, ensuring that they can effectively meet rising energy demands while fostering sustainable energy growth.

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Topics Covered

1. Lack of Application Development in Crypto

2. TON’s Investment in the Ecosystem

3. Long-Term Growth for TON

Applications are Core to the TON Ecosystem 📝

There has been a lot of discussion regarding the lack of application building in crypto. The frustration stems from the lack of devs building applications.

As mentioned in the last article, 2024 Reflections From ETHCC, the lack of investor money coming into dApps could be a reason for this phenomenon, but is also a positive signal for founder conviction.

One of the key points from the “2024 Reflections From ETHCC” was a solution to the lack of dApps being created. Effectively, the ecosystems are the entities that will need to allocate funds to fuel innovation on their chains.

TON is a blockchain that has taken the progression of innovation on its chain into its own hands. This is likely due to Telegram's traction, making now the perfect time for developers to build on its chain.

The tragic event of Telegram’s founder, Pavel Durov will likely worry some founders. It brought a lot of questions about the future of Telegram. After some more clarity, builders hope to rally around the adverse circumstances and build dApps that drive users to Telegram.

TON is Invested in Driving Awareness of its Ecosystem

The Open League

The Ton Foundation has strongly invested in the ecosystem through various initiatives.

One of the primary investments in the ecosystem that TON makes is through its grants program. The Open League has over 300 million dollars in TVL and has distributed over 40 million dollars.

For the most recent season, season 5, 1.5 million dollars worth of TON was distributed to the teams. The rewards are distributed to the top seven teams in different categories.

App Battle

Top 2 Winners:

Catizen and YesCoin retained their spots from the previous seasons.

• Catizen - Catizen is a cat-themed social entertainment experience on Telegram that blends playful interactions with the TON Blockchain, simplifying mobile payments and making Web3 access seamless for users.

• YesCoin - Yescoin is a casual Web3 game where players collect gold coins by swiping, earning rewards, winning prizes, and joining a global Web3 community, effectively bridging Web2 and Web3.

Token Battle

Top 2 Winners:

Season 5 saw two projects advance their rankings from previous seasons. NotCoin advanced in the competition from 2nd place to the number one spot. JetTon advanced from 15th place in season 4 to 2nd this season.

• NotCoin - Notcoin has grown purely through community efforts, reaching 0.44% of the global population with 300k people issuing 800k Vouchers and generating over $25M in P2P sales, demonstrating its decentralization and commitment to ever-growing systems like earning through market exploration or value-creating games.

• JetTon - JetTon Games is a cross-platform gaming solution built on the TON blockchain, offering secure and transparent gambling experiences with its JETTON cryptocurrency, aiming to become a key player in the crypto gambling world by leveraging innovative features and expanding access through Telegram’s vast user base.

NFT League

Top 2 Winners:

Gatto, this season’s winner rose to the top spot for season 5 after being 6th in the last season. Market Makers is sticking in the same spot it was in season 4 of The Open League.

• Gatto - Gatto is a P2E game, where you can raise strong Gattomons, take part in competitions against other players and earn TON.

• Market Makers - The collection is by Storm Trade and is awarded to the most active Storm.tg users. Holding these exclusive NFTs unlocks special bonuses, including $STORM token whitelists.

DeFi League

EVAA, who were sitting in the 2nd place in season 4 grabbed the top spot for Season 5. DAOLama grabbed the second spot in the competition in this category after finishing 5th in the last challenge.

Top 2 Winners:

• EVAA - EVAA lending protocol is a decentralized finance platform that leverages TON blockchain technology to enable secure and efficient borrowing and lending of digital assets. Users can participate as lenders to earn interest or as borrowers to access loans by collateralizing their cryptocurrency holdings

• DAOLama - DAOLama offers a comprehensive suite of NFT financial services, allowing users to use their NFTs as collateral for TON Coin, provide liquidity to earn rewards, participate in private auctions for discounted NFTs, rent NFTs with smart contract guarantees, and buy NFTs now while paying later with flexible borrowing options.

As seen above, the open league has led to some quality outcomes.

During Season 5, active on-chain users grew by 48%, with over 2 million new active wallets and 700,000 daily active wallets. The total TON TVL with LP Boosts increased by $750k, achieving an average 50% APR, while daily DEX volumes reached $130 million.

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Venture Investment:

Along with the exposure from the TON foundation, projects building on TON are also attracting capital from venture investors.

One investor that has been recognized in the TON ecosystem is TON Ventures. Two former TON Foundation executives lead TON Ventures and is a 40 million dollar fund.

Thus far, the fund has invested in very notable projects on TON such as Ston.Fi, Storm Trade, and Catizen.

Additionally, the TON Blockchain recently secured over 30 million dollars in funding from Foresight Ventures and Bitget. This funding could drive even more support to the TON ecosystem.

Telegram's Traction Fuels Growth and Adoption of TON

Telegram continues to increase in traction as recently the platform reached over 10 million paid subscribers. The TON blockchain has driven over 1 billion transactions in parallel to Telegram. Because of this traction, some believe the chain could be undervalued.

TON’s rising popularity and various adoption points make it a platform that attracts developers. GameFi developers are taking advantage of Telegram’s user base, which could be a solid adoption point for web3.

It wouldn’t be surprising that GameFi propels Telegram and the other categories in the TON ecosystem to continue driving users and value.

Users are using mini apps like games as an opportunity to drive adoption.

The DeFi platforms on TON can piggyback off the influx of new Telegram users. The best way to do so is to ensure that other non-game apps have top-tier user experiences. Without this, users will be lost in the workflow and continue to prefer web2 platforms.

Gaming being a primary avenue for the first point of interaction with TON apps presents opportunities for DeFi and GameFi partnerships to drive ecosystem value.

DeFi and GameFi collaboration on TON could become a user-friendly practice that drives TVL and influences gameplay metrics simultaneously.

Driving more activity and retaining users will be a long-term driver for the value of the TON blockchain. Achieving this will aid in further usage and value, which is pivotal in making Telegram the top super app.

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Topics Covered

1. Overview of ETHCC

2. The Gaming Focus on TON

3. The Demand for dApps in Web3

Full Analysis📝

This month, I had the chance to travel to Brussels, Belgium for the 7th annual ETHCC Conference. I always revel in the opportunity to travel abroad, and this was the first time I’ve done it for business. While ETHCC is a conference, most people connect outside the confines of the conference through the wide variety of side events. Some days, I went to four to six side events daily to source deals, meet new friends, and understand the current state of all things crypto. The conference attracted many different people from all over the world. I had a couple of meals with founders from Paris, Poland, the United States, and Germany. 

Additionally, the Portuguese government should invest in the next rounds of funding from the founders I met in person as they did a great job selling me on moving. 

Founders, investors, and business developers, like myself, were all placed together which created an incredible atmosphere to create synergies within the broader crypto industry.

There are a couple of themes that I want to dive into further:

The TON Ecosystem is Loaded With Gaming Talent

The TON ecosystem seems to have a lot of buzz online but unfortunately, there didn’t appear to be much fanfare regarding the protocol during the event. Unless there were more private events focused on the ecosystem, I could only find one in the flurry of Luma options. Helika hosted the event that I was able to attend and it was very focused on the TON gaming theme. Telegram seems to attract many quality game developers, and gaming appears to be the primary non-messaging use case gaining traction within the industry. Two games that have been very prominent in Telegram are Hamster Combat and Notcoin. NotCoin has around 40 million users and Hamster Combat has over 250 million users. 

While gaming was a strong focal point of the TON ecosystem during Brussels, I was surprised that there weren’t other narratives that drew a ton of attention. Outside of the event, it appears that TON is growing in DeFi and other subsections of crypto technologies. The TON ecosystem has seen exponential growth in DeFi TVL according to Binance.

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There is a Demand for More DApps in the Marketplace

Broadly, one of the topics that intrigued me was how the crypto space has largely garnered the most attention from an infrastructure lens. What I learned is that infrastructure projects tend to be more investable due to the value they can attract relatively early in the project lifecycles. They enable venture capital investors to gain more liquidity than a typical dApp.

However, this investment in infrastructure has consequences for the broader crypto ecosystem. Builders are more likely to develop projects that center around this vertical as opposed to applications on top of the infrastructure. This stifles the growth of ecosystems as the purpose of the infrastructure is to deploy applications on their respective blockchains. Conversely, any founder that is working on dApps at this time is more investable as it is clear they aren’t looking for money grabs and following narratives. 

One of the solutions that was proposed by, Vyas from Eigenlayer, is that ecosystems have to allocate capital to projects independently to grow their respective projects. With this being true, projects will need to create initiatives pre-token launch to be able to weather the storm post-liquidation events. Ecosystems investment in projects could drive better fundamentals so that the company and ecosystems can be positioned to be successful in the long term.

Discovery of new dApps and Ecosystems is Key

Based on what was learned at ETHCC, the CryptoJeter newsletter will focus more on new applications in emerging ecosystems. We need to understand the innovations and how these ecosystems prioritize different narratives. The narratives that are being prioritized will give insight into what stage of consumer demand certain products have and how to identify the direction of the projects. While crypto evolves fast, the missions of quality projects should remain constant. Thus, it is interesting to learn how they plan to evolve from the products that are in demand currently. The future of crypto is unpredictable and can take many directions. Ultimately, it is important to stay informed, adapt to new trends, and continuously evaluate the core missions and strategies of these projects to make well-informed decisions in this ever-changing landscape.

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Topics Covered

1. Telegram's Origins and Evolution

2. TON’s Emerging Ecosystem

3. Strategic Investments and Partnerships

TLDR🏃‍♂️

• Telegram, evolving beyond a messaging platform, pioneers blockchain solutions with The Open Network (TON) to cater to a vast user base of nearly 900 million.

• Backed by strategic investments and initiatives, including partnerships with Pantera Capital and integration with Travala, Telegram aims to expand its ecosystem with high-usage applications, paving the way to compete with global giants like WeChat in the super app landscape.

Full Analysis📝

Paving the Way to Becoming a Super App

In the rapidly evolving world of digital communication and finance, Telegram has emerged as a pioneering force, not only as a leading messaging platform but also as a hub for innovative blockchain solutions. 

Central to this evolution is The Open Network (TON), a blockchain project initially developed by Telegram to bring decentralized applications, fast transactions, and secure smart contracts to its vast user base.

Like the origins of Telegram, founder Pavel Durov’s middle finger to the Russian government, TON and its token was a response to the United States’ Security and Exchange Commission (SEC). 

Since its beginning, Telegram now has nearly 900 million users, making it one of the most popular messaging applications in the world. By leveraging its large user base, Telegram is in a greater position to become a super app, as discussed in a previous CryptoJeter article, Telegram and The Challenge to Becoming a Super App.

With more people becoming more concerned about security and the conversation around data freedoms being very polarizing, Telegram is designed to provide unparalleled data security and permissionless conversation. 

This commitment to security and freedom is further exemplified by The Open Network (TON), Telegram’s ambitious blockchain project. The TON blockchain is becoming attractive to developers as there has been a strong focus on DeFi and GameFi applications. This figures to be evolving as well as the TON Foundation was launched in 2023. 

Amid growing security concerns and debates on data freedom, Telegram leverages its vast user base to provide unparalleled data security and permissionless communication while pushing the boundaries of blockchain innovation with The Open Network (TON).

Tapping into Emerging Markets with Decentralized Applications

The team at Telegram realized years ago that it needed to bring decentralized applications, fast transactions, and secure smart contracts to its vast user base. Now with nearly a billion users, the need to provide unparalleled value is more than true.

Like the broader crypto industry, Telegram has gained its product-market fit primarily in emerging markets. According to the world population review, 38 percent of the app’s usage comes from Asia and 21 percent of the users come from Latin America. In comparison, nearly eight percent of users currently come from Africa. This widespread adoption in diverse regions underscores Telegram's appeal and effectiveness in providing secure communication and innovative financial solutions to populations whose needs for privacy, low-cost transactions, and reliable communication infrastructure differ significantly from those in developed countries. 

According to GSMA, over 50 percent of Sub-Saharan Africans have smartphones, in economies that tend to be mobile first. This is likely driven by the continent's significant under-20 population. While the population growth in other regions has slowed, Africa’s has increased by 2.42% per year for the past 30 years. Ultimately, the population in many African countries is expected to explode.

This signals opportunities for developers to build applications within Telegram. The applications will have a utility that has real-world impact and it starts with DeFi. Moreover, Telegram has already positioned itself to be able to achieve this impact. The app currently has a wallet embedded in it, which can connect to decentralized applications within the TON ecosystem. 

The wallet functionality also positions Telegram to be used for peer-to-peer payments which could serve as a massive opportunity for the application.

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TON and Telegram Drive Innovation in Payments, Gaming, and Beyond

With payment companies joining the stablecoin race, TON could be a blockchain they explore. Recently, Pantera Capital, who is looking to drive more funds to the TON ecosystem, shared that TON’s USDT in circulation has exceeded over 400 million dollars. 

Payments can also exist within the leading dApps if they continue to evolve over time. Some predict that TON-based games, Notcoin and Hamster Combat will have risen as Axie Infinity did. Games within Telegram also propel the application toward being able to compete with WeChat, an app that has over 400 million users playing mobile games. 

Telegram also seems to appreciate the value that games and other dApps bring to the TON ecosystem. With the app securing more traction, Telegram's stars payment system is poised to become a crucial tool for mass crypto adoption, enabling seamless transactions and fostering greater engagement within the platform's expanding ecosystem.

Along with games, Telegram will be used as a medium that would align with the company’s ambitions of competing with WeChat. WeChat enables developers to build mini-programs that appear to be synonymous with the vision that Telegram is striving for. Like WeChat, Telegram wants to bring more developers to build mini-applications within the platform. One of the ways that they will drive new dApps to the platform is through the aforementioned “Stars” payment. Developers will use stars to promote their apps virtually commission-free. 

Along with the games that have gained popularity on Telegram, the app platform just secured a partnership with Travala, a crypto-native travel booking service with 2,200,000+ properties in 230 countries, 400,000+ activities, and 600+ airlines globally. This is an example of the growing utility Telegram delivers. 

In Web3, the TON mini app ecosystem spans a wide variety of industries including SocialFi, infrastructure, marketplaces, wallets, and fundraising. Assuming that the TON ecosystem continues to grow and as web3 becomes more interoperable, more projects will continue to expand to the TON network.

Strategic Investments and the Future of Telegram

Telegram was founded by Pavel Durov who is one of the early developers of the modern social network. He created an equivalent to Facebook in Russia, but due to government pressures, was forced to flee the country. This resulted in the creation of Telegram. Along with Pavel, his brother was also an influential figure in the development of the application. Remarkably, Telegram appears to have a very small team but has a large impact. 

The Telegram team has also prioritized equity as it has chosen to take on bonds from top-tier organizations like Dubai investment firm, Mubadala and Abu Dhabi Catalyst Partners. By raising funds this way, the team has more control over the direction of the company and can chart its own course with regard to growth and scale. It’s a model that may work for certain founders in the future whose primary focus is on scaling their communities. 

Concerning the TON network, Pantera Capital has been a significant investor and is looking to increase its investment position. This focus shows the potential the ecosystem has and will give TON significant financial capital to attract developers at a more rapid pace.

Transforming From a Messaging App to a Super App

Despite Telegram’s existing traction, there is still an opportunity for growth. The TON network is receiving backing to drive new products to the market while benefiting from mobile-first economies. As the quality of Telegram improves, the better attraction it has to bring the best web2 and web3 products to the market.

Telegram and the TON Network have both created initiatives and features that aim to drive those devs to build within Telegram. The users will also grow as new games and experiences are built within the application. Once Telegram can achieve a bunch of high-usage applications, it will be on a more linear progression toward competing with WeChat. Ultimately, this development has the potential to transform Telegram into a super app, seamlessly integrating communication, payments, and diverse digital services in a single platform.

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Topics Covered

1. Role and Importance of Stablecoins

2. Stablecoin Competitive Landscape and Market Share

3. Regulatory and Economic Impact of Stablecoins

Quick Notes🏃‍♂️

In the volatile world of cryptocurrencies, stablecoins offer a reliable anchor, blending traditional currency stability with blockchain innovation. The stability and reliability of stablecoins make them a cornerstone of the evolving financial ecosystem.

While in the United States, the use case for these technologies isn’t as crucial in the near term as the systems work reasonably well. However, in countries like Argentina, where the inflation rate has been astronomical, stablecoins provide a reliable store of value.

The competitive landscape for stablecoins is becoming increasingly crowded as more players enter the market. Web2 payment companies are not only competing with each other but also with startups like Tether and Circle, which have been the first movers in this space.

PayPal is positioning its stablecoin, PYUSD, to run on various blockchains and is now available on the Solana blockchain. Solana has also been adopted by other payment companies, including Visa, which launched USDC settlement on the blockchain last fall. PayPal’s focus on Solana shows that PYUSD is positioning itself as a product primed to increase the adoption of stablecoins.

Additionally, PayPal’s global presence positions PYUSD to gain favor within its existing markets, especially in regions with high crypto traction or need.

As stablecoins and Bitcoin compete for dominance in the payment space, the ongoing evolution of crypto technology promises greater utility and integration into the global financial system.

Full Analysis📝

In the volatile world of cryptocurrencies, stablecoins offer a reliable anchor, blending traditional currency stability with blockchain innovation.

Despite not being completely decentralized, stablecoins are acting on the primary use case of Bitcoin, payments.

The stability and reliability of stablecoins make them a cornerstone of the evolving financial ecosystem.

Stablecoins are driving value primarily in emerging global markets globally. This sentiment has been mentioned in a prior CryptoJeter article, “Stablecoins Push Acceleration of Big Brands Into Crypto” and the momentum of crypto payments has continued. However, in the United States, the use case for these technologies isn’t as crucial in the near term as the systems work reasonably well.

In countries like Argentina where the inflation rate has been astronomical, stablecoins provide a reliable store of value.

Before stablecoins, Martin Carrica, founder of Mountain Protocol explains, “You would go and buy dollars in person and you would get a piece of paper. Is that dollar fake or not? You don’t know.”

This existing traction in the stablecoin arena has made incumbents pay attention and compete with the rise of crypto-native alternatives. Therefore, there has been a greater movement for payment companies to explore building systems that leverage web3 technologies.

Payment Giants Embrace Web3

However, Web2 payment companies are not only competing with each other. They are competing with foes that they are not familiar with. These opponents are startups that have been the first movers in this space such as Tether and Circle. Additionally, there have been other stablecoin upstarts like Ethena which have also risen into the stablecoin revolution.

Tether's USDT remains the dominant stablecoin, with a substantial market share and widespread adoption across various blockchain networks. Tether has a market cap of $111 billion, which accounts for just over 70% of the total stablecoin market capitalization. Tether tallied an all-time high net profit of $4.52 billion in the first quarter, according to an auditing firm BDO.

TRON leads in transaction volume with a 78% share, due to its low costs and high availability on exchanges, followed by Polygon. Ethereum, though lower in transaction count, handles higher-value transfers and has users holding USDT for longer periods, indicating its use as a stable store of value. On chains like Optimism and Arbitrum, USDT is used for frequent transactions, likely in DeFi applications.

With those staggering profit numbers and dominant market share, Tether is the Goliath in the stablecoin race.

Circle’s USDC has reached a 20% market share in the stablecoin market. While Tether’s market share is larger, the amount of USDC transactions has flipped Tether at the end of 2023. Additionally, the brand of USDC seems to focus on regulatory compliance which may lead to more institutions adopting the stablecoin.

Understanding the market opportunity has led to more intrigue from payment companies. PayPal is positioning its stablecoin, PYUSD, to be able to run on various blockchains. PYUSD is now available on the Solana blockchain, a part of PayPal's broader strategy to integrate cryptocurrency into its services. Solana has also been adopted by other payment companies, including Visa, which launched USDC settlement on the blockchain last fall. PayPal’s focus on Solana, which has received a ton of buzz this cycle, shows that PYUSD is positioning itself as a product primed to increase the adoption of stablecoins.

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Bitcoin Gains Traction in Emerging Markets

PayPal expanding to Solana shows that they have a pulse on the crypto ecosystem and are willing to explore less mature technologies. Solana seems to have also pushed to attract incumbent payment companies. PayPal will likely seek other partnership opportunities with companies in web3 to ensure that it maintains its user experience quality.

Additionally, PayPal is available worldwide which positions PYUSD to gain favor within its existing markets. Markets with high crypto traction or need can leverage PayPal for the full cycle of payments. Thus, as PayPal continues to add new merchants, business owners who receive payment in a currency suffering from hyperinflation may be inclined to accept PYUSD for payment to maintain the value of their earned revenue.

Moreover, PayPal as an established relationship with US regulators who post FTX, has generally taken a very aggressive stance against crypto native companies. That pre-existing relationship with regulators puts them in a better position to penetrate the US market in an unclear regulatory environment. PayPal’s merchant network creates the opportunity to adopt PYUSD, making instant revenue capture possible without the fees paid to credit card providers.

Tether has already taken strides to address its perception of not being compliant. CZ, founder of Binance wrote, “The crypto market has matured and may have stepped into a new phase where “compliance is super important”. With this in mind, Tether may choose to be the stablecoin that is DeFi’s companion as that technology doesn’t have as much stringent regulation. The other option is to try and get institutions to buy into a strategy that adheres to the highest level of regulatory compliance. Doing so in the US will face challenges as the current administration seeks to take down crypto giants. The SEC will likely feel even more empowered after President Joe Biden sided with the SEC by vetoing bill SAB121.

With the uncertain regulatory overhang and the entrance of incumbents into the stablecoin space, one may ask about the viability of Bitcoin payments. El Salvador has gone all in on Bitcoin and other nations are considering doing the same. Argentina’s president Javier Milei and El Salvador’s president, Nayib Bukele appear to have a friendly relationship as both have an affinity for Bitcoin and believe it can revolutionize their economies. It was reported that Argentina’s financial authorities met El Salvador’s National Commission of Digital Assets to exchange knowledge of crypto adoption technology. President Bukele has also started to create U.S. institutional allies as he has developed a relationship with Cathie Wood, founder of Ark. Together, they have explored points of collaboration to examine Bitcoin's (BTC) potential to bolster the nation's capital markets and foster technological advancements. This May showed the utility of Bitcoin transactions as there were multiple transaction records broken globally. This may signal Bitcoin’s ascension from being viewed as only a store of value.

By taking note of the Bitcoin progression and acceptance among emerging nations like El Salvador and Argentina, Stablecoin’s greatest competition may come from Bitcoin. It is feasible that these two nations could set alliances and create currencies that have Bitcoin as their reserves, or work with organizations like Strike to make bitcoin payments fast and usable.

The fact that we can even have this discussion is a good thing. For crypto to evolve as an industry, there has to be utility and payments are one of the fundamental ways that people can leverage the technology.

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Topics Covered

1. Global Regulatory Clarity vs. US Regulatory Challenges

2. Political Influence and Advocacy Efforts

3. Demographic and Generational Opinions on Crypto

Quick Notes🏃‍♂️

Cryptocurrencies and Web3 technologies currently have greater utility outside the US, where nations like Hong Kong and Dubai are creating crypto-friendly policies. In contrast, the US faces regulatory challenges, with the SEC taking a hard stance, evidenced by lawsuits against major crypto projects like Coinbase and Ripple. Despite this, there have been some regulatory wins, such as the approval of Spot Bitcoin ETFs.

Organizations like "Stand With Crypto" are advocating for clearer policies and political support for the crypto industry. The recent approval of the Ethereum spot ETF suggests a potential shift in the regulatory landscape.

As the global regulatory environment becomes clearer, the US risks falling behind if it doesn't adapt. Retaining crypto innovators is crucial to prevent the US from lagging in this industry, similar to the semiconductor space. The involvement of large institutions and the support of younger generations and minorities highlight the growing importance of crypto in the US economy and elections.

Full Analysis📝

US Crypto Regulation Has Historically Been Harsh

Cryptocurrencies and Web3 technologies currently have greater utility and potential outside of the US.

Thus, it is no wonder that other nations and geographical areas have battled to be a hub for builders. As we visited in a prior article, aspiring crypto hubs like Hong Kong and Dubai are creating policies that are friendly to crypto founders.

In the US, the tune has been DIFFERENT.

US regulation has been all but clear in the crypto space, but the Securities and Exchange Commission vehemently disagrees.

SEC chair, Gary Gensler, is viewed as the Lex Luther or Joker of the crypto space for many US crypto founders.

The SEC has sued major crypto projects with American founders Coinbase, Uniswap, and Ripple.

The Wells Notice that Coinbase received is particularly odd as the company is listed on the Nasdaq.

However, despite the opposition to Chairman Gensler and the hostile regulatory environment, the industry has seen some wins regulatory-wise. One major win was Grayscale winning a lawsuit against the SEC, which spurred the approvals of Spot Bitcoin ETFs. This paved the way for BlackRock and ARK founder, Cathie Wood to launch ETF products.

With election season underway, crypto has been a polarizing topic for the country’s elected officials.

The outcome of the elections could significantly influence the future regulatory landscape for cryptocurrencies in the US, potentially altering the current adversarial stance of the SEC.

US Faces Challenges Amid Global Regulatory Clarity

As mentioned above, the regulatory landscape for crypto is not friendly in the US.

The European Union, United Arab Emirates, and United Kingdom are all nations that have regulatory clarity. These nations didn’t get the clarity today but have had it for many months at the time of writing this piece.

Interestingly, the cryptocurrency industry is the first technological innovation that isn’t led by Silicon Valley. While COVID probably had a hand in that, founders in America who want to innovate in crypto fear regulatory consequences.

This is why Coinbase, a public company, and other American crypto companies have created an organization called “Stand With Crypto” to engage political figures to rectify the difficulty that builders and users of the crypto industry face.

The organization focuses on education about US politicians' views on the crypto sector. Additionally, the organization endorses candidates that are pro-crypto and mobilizes crypto supporters to vote for those pro-crypto candidates.

Stand with Crypto has a ton of notable supporters including Consensys, Gemini, Light Spark, Haun Ventures, and others who have supported the organization. MoonPay, another supporter, recently donated a million dollars to the cause.

These political issues have rapidly ascended into the realm of importance in the minds of Congress. This month, a couple of major bills like FIT21 and SAB121 have both passed in Congress. SAB121 was passed by both the House and Senate but the legislation may be vetoed by the president.

While that was uttered by the current President in recent days, many people feel as if the SEC has routinely overstepped its boundaries and the courts have agreed (i.e. Ripple and Grayscale lawsuits). After Donald Trump self-proclaimed himself as the pro-crypto candidate and these bills were passed, President Biden would be flirting with angering a segment of voters for a reason that is a threat to the safety of the American people.

The latest development on the regulatory front is the approval of the Ethereum spot ETF. This action from the SEC comes months after the success of the spot Bitcoin ETF. It also may be an effort for the current administration to appear more crypto-friendly as the industry has been more politicized. The spot Ethereum ETF is more challenging to finalize as there needs to be greater clarity on staking.

Ultimately, in the span of a little over a week, the current crypto regulatory landscape is primed for a near-term overhaul.

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Crypto Regulation Needs Urgent Reform to Retain Innovation and Talent

While regulation is steadily improving, it will be interesting to see how it compares with the rules of more established crypto regulations in other nations. The current regulations have put the US government on defense for incentivizing crypto innovation.

Being on defense will cause other nations to create offers that are more friendly for crypto innovation. If the US can’t keep up, it will be challenging to retain crypto innovators which will put the US in a predicament.

Not retaining the talent or keeping up with global regulatory oversight puts the US at risk of falling behind in this industry, similar to the semiconductor space. After turning a blind eye to that industry, the leaders of 92% of advanced production are located in Taiwan and South Korea. The US market share of the crypto space will be low if the country doesn't make it friendlier to build businesses in the space.

However, large institutions like BlackRock entering the fray in the US crypto ecosystem may have an amplified voice in helping to form crypto policy that impacts the economy. If these institutions are full believers of the industry, they will also deploy tons of capital into the industry which will provide many jobs to US citizens.

According to Stand With Crypto, 52 million Americans own crypto. The majority of those owners are Gen-Z and Millennials. Stand With Crypto also stated that many crypto owners identify as racial minorities. There are many people who fall in these demographic categories who don’t feel that they are getting a fair bite at the apple to accomplish the American dream. Thus, the appetite for risk assets has increased. It only makes sense as Millennials are the first generation to earn less than their parents.

There is an abundance of TED talks from the likes of that share the difficulty of being a millennial or Gen-Z in today’s environment. With watching parents or entering the workforce during the great recession, graduating during the COVID-19 pandemic, millennials and Gen-Z have seen very tough economic times. There are also concerns about whether or not they will be able to own a home with many having to pay off student loans. With that in mind, crypto presents an opportunity for millennials and Gen-Z to acquire the American dream.

Ultimately, the Baby Boomer generation prepared to transfer wealth to younger generations. These younger generations have a propensity to appreciate crypto as it is the most accessible wealth generation investment relative to the standard options, such as real estate. Thus, it will be a factor in how they vote in elections this year and beyond.

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Topics Covered

1. An overview of Runes

2. The Nascency of Runes

3. Builders in the Runes Ecosystem

Quick Notes🏃‍♂️

Bitcoin was originally designed to focus on payments, despite its current reputation as a store of value. But, its mission is to escape the traditional financial system by integrating other financial services on-chain.

There has been a movement to build decentralized applications (dApps) on the Bitcoin network, aimed at enhancing scalability and utility.

To build a sustainable Bitcoin Network, it has to be easier for developers to build on-chain. Thus, Runes was created to improve upon BRC-20 and Ordinal technology.

Shortly after its launch, Runes achieved a market cap of $346 million, driven by strong pre-launch community activities, boot camps, and educational sessions.

As the Runes ecosystem continues to develop, it promises increased utility and community engagement. Institutional investors may find Runes an attractive addition to their portfolios, especially given the positive sentiment surrounding Bitcoin.

Full Analysis📝

How Runes and dApps Are Revolutionizing Bitcoin

While Bitcoin is commonly viewed as a store of value in today’s landscape, 

The network was designed to be centered around payments. 

With this in mind, it is important to note that the mission of Bitcoin is meant to be an escape from the financial system. However, to build out the mission of Bitcoin, the layer one needs to have other financial services on-chain. 

Ironically, with the influx of institutional interest, there has been a movement to build dApps on the Bitcoin network. 

Many of these dApps are focused on scaling the network with lightning capabilities or EVM-compatible chains. This aids in smart contract development and ultimately greater utility for the network. The next phase of Bitcoin scalability and usability comes from the creation of fungible tokens on the Bitcoin layer one network. 

Bringing fungible tokens on the chain began with the creation of BRC-20 tokens. This has since evolved into the creation of Runes. 

Runes builds upon Bitcoin’s Ordinals protocol and is an evolution of the BRC-20 token standard. 

The Ordinals protocol introduced the concept of inscribing data, such as images and text, directly onto the Bitcoin blockchain, similar to creating non-fungible tokens (NFTs).

Similar to NFTs, Runes are issued and can be minted and can be managed by their holders. 

By studying Runes, we can understand a key component of Bitcoin’s future status.

Runes represents a powerful narrative for the future of tokenization and decentralized finance on the Bitcoin blockchain.  

Building a Thriving Community in Runes’s Nascency

In under a week of launch, Runes achieved a market cap of $346 million. 

The nine-figure market capitalization post-launch shows a demand for this technology. The demand was built before the launch of Runes. 

Members of the Runes community were active with pre-launch projects, community-organized boot camps, and educational sessions.

By engaging the community early, Runes has the potential to experience a domino effect for community growth.

Currently, Runes has a growing builder community as some developers find building using BRC-20 tokens can be challenging for developers. Developer challenges will not lead to adoption. Thus, Runes presents an opportunity to lead more developers into the Bitcoin community. 

Thus far, one of the key applications in all crypto ecosystems is the exchange. 

One project that is enabling the foundations of a thriving Runes community is Runechain. This chain is an L2 that is designed to scale Bitcoin for Rune trading. 

Runechain has a decentralized exchange (DEX) with very low transaction fees. Additionally, the block time is around 2 second block time which has been a hurdle for the broader crypto ecosystem. 

Additionally, Runes DEX is adding automated market making capabilities to the Runes ecosystem. The project has recently raised 2 million dollars from top crypto investors. These include notable venture firms Kenetic Capital and Mechanism Capital along with top angels like Pascal Gauthier, CEO of Ledger. 

With this level of existing support, Runes DEX has a foundation to be a major player in the progression of the Runes ecosystem. 

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The Unwritten Future of Runes

The future of Runes is largely still unwritten.

Runechain is building the foundations of ecosystems with spot and futures trading. It appears that the L2 is also building staking capabilities as well. 

Runes DEX also has the backing to create differentiated features or features that enable it to compete with other DEXs. 

Runes DEX currently has an experience called the Meme Casino to merge finance with digital culture in unprecedented ways. With this being an exclusive feature, it seems like Runes DEX could continue to improve upon. 

Taking heed from the communities built around these coins, Runes DEX could create incentive  and loyalty programs to encourage the trading of these coins. 

Additionally, many protocols give grants to builders to create the applications that drive adoption on the chain. Runes protocols can follow this model to spur the growth of their projects. 

Moreover, since Runes is very new, builders in this space will need to educate consumers on the benefits of Bitcoin as well as the benefits of Runes. Thus, there will need to be experiences that will spur interest in this new technology. 

Casey Rodarmor and the Pioneers of the Runes Ecosystem

Ironically, Casey Rodarmor, the inventor of the Ordinals is the inventor of Runes.

Casey has been a Bitcoiner and has made code commits to Bitcoin core.

Despite looking to make Bitcoin a blockchain that could bring art on-chain like Ethereum or Solana, Ordinals had some critics. Primary complaints consisted of the safety validity concerns that would arise. 

From a company standpoint, the teams behind Runes DEX and Runeschain are the first movers in the Runes community. It will be exciting to see how they innovate and build the Runes ecosystem. 

Lastly, one major brand that has shown an outpour of support for Runes is Magic Eden. Magic Eden is an NFT marketplace that opened its doors in 2021 and has been a mainstay in the NFT space. 

Runes are The Next Frontier in Bitcoin's Evolution

Runes are a new technology launching during a time of positive Bitcoin sentiment. In the last week, Runes accounted for 70 percent of the Bitcoin transactions.

Like NFTs, the initial use case for Runes revolves around the art arena. But, this is likely just the beginning. It is not incomprehensible that like NFTs, there will be a demand for greater utility and community engagement. 

The Runes ecosystem is still very nascent which makes it a great time for crypto enthusiasts to tune into the new developments happening in this area of Web3. New projects present opportunities for people to be early adopters of the technology to be active parts of a growing community. 

With the institutional interest in Bitcoin core, it wouldn’t be surprising to see institutions buy Runes to diversify their portfolios. Thus, creating legitimacy of this technology for a non-web3 native audience.

As Runes continues to evolve and gain traction, it presents a unique opportunity for both early adopters and institutional investors to shape and benefit from the future of decentralized finance on the Bitcoin blockchain.

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Topics Covered

1. Introduction to Monad

2. Current State of Layer one blockchains

3. Ideas for Monad’s Future

Quick Notes🏃‍♂️

Monad emerges as a new contender challenging Ethereum's dominance by addressing its high gas fees and slow transaction speeds.

Currently in its developmental infancy with a private beta, Monad is diligently preparing for a public testnet launch in the upcoming quarter.

However, it has been pivotal for the blockchain to battle Ethereum by planting the seeds for a strong community.

Additionally, Monad has been driving ecosystem value by forming partnerships with top crypto players.

The team behind Monad is comprised of former Jump Capital veterans.

Thus, Monad’s team has appeal in markets around the United States.

Additionally, Monad was able to raise funds from large, recognizable investors.

Ultimately, Monad is setting the stage for a dynamic presence in the crypto community, ready to activate its network once its token launches.

Full Analysis📝

Challenging Ethereum with Enhanced Speed

The last CryptoJeter article lightly touched on some of the narratives that the ecosystem was excited about. 

One of the major narratives that was discussed was about Monad.

Monad hosted an awesome happy hour experience which allowed me to learn more about the project from enthusiasts. 

Monad joins the list of Ethereum alternatives. 

Many projects aim to challenge Ethereum due to the chain’s expensive gas fees. 

Additionally, projects are created to combat Ethereum’s slower transaction speeds. 

By joining the race to compete with Ethereum on these metrics, 

Monad has significant competition from other chains that have been focused on dethroning Ethereum. 

These include Solana, Sui, Sei, Avalanche, and other layer one blockchains.  

Additionally, as Ethereum scales and becomes optimized with layer 2 chains, Monad’s competition will stiffen. 

Thus, Monad is not only positioned in this bull market to attract interested developers and participants. 

It is poised to disrupt and benefit emerging technologies within the crypto ecosystem.

Exploring New Chains and Challenges in the Crypto Landscape

Ethereum set the stage for scaling blockchain applications.

While Bitcoin was first, it was designed with payments being a primary use case.

Ethereum on the other hand was designed for other applications to be built on top of it.

Since Ethereum is the first platform to allow this, there are parts of the design that were innovative at launch.

Today, there are many blockchains that incentivize applications to build on them.

Thus while Ethereum is a first mover, there are newer technologies that may be more suitable for today’s innovation.

As mentioned earlier there are newer chains like Solana that are gaining popularity and traction.

One of the main reasons for exploring building on other chains is the scalability concerns that exist within Ethereum.

Ethereum at the moment can process 15 transactions per second.

At the point of launch, this was novel as it was greater than Bitcoin’s 7 transactions per second.

However, newer chains claim to offer greater transaction speeds which is attractive for many developers.

Solana claims to be able to process 65,000 transactions per second.

But with this claim, the project has had hiccups such as outages.

Monad also argues that these transaction speeds may be inflated which will be touched on later in this article.

Unfortunately, Monad is still in its infancy currently as the project is in dev net.

This means that ​​dev net is an internal testnet that is only accessible to the team.

Monad’s private beta will be followed by a public testnet which will launch sometime in Q2.

In the meantime, Monad encourages community involvement including making memes.

Additionally, every week the team hosts Monad Mondays, which is an AMA for the team.

By primarily focusing on the community Monad is killing 2 birds with one stone.

Building a strong community increases Monad’s odds of gaining immediate traction when the project launches on mainnet.

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Monad Leadership Merges Finance and Crypto Prowess, Drawing Major Investments and Industry Support

The team behind the Monad has stellar resumes. 

One key advantage the team has is its combination of TradFi and crypto experience. 

Monad was founded by Keone Hon, James Hunsaker, and Eunice Giarta.

Between the three founders, their backgrounds include being graduates of MIT and Iowa. 

Additionally, they have experience in traditional finance at the world's top institutions. These include Goldman Sachs, JP Morgan, and Bank of America. 

Additionally, they have served as leaders within the crypto industry by holding leadership roles at Jump Crypto. 

The team has raised funds from some of the top investors in the crypto space. 

These include Dragonfly Capital, Shima Capital, and Lemniscap who invested 19 million in Monad’s seed round.

Most recently Monad completed a 200 million dollar round led by Paradigm featuring participation from Electric Capital, Castle Island Ventures, Animoca Ventures, Coinbase Ventures, CoinFund. 

Moreover, according to Monad, top KOLs also participated in this round.

These include Crypto KOLs Luca Netz, Ansem, and Punk 6529.

This type of support from top investors demonstrates the confidence that the team has garnered from elite contributors and leaders in the crypto community.

Ideas for Monad as it Prepares for Expansion

Ethereum has the most developers.

This shows not only how prevalent this L1 is to the crypto community.

It also shows that innovation is still very dominant on the blockchain.

Native Ethereum and EVM blockchains are gaining traction by institutions who are hungry to enter the space.

This is an opportunity for Monad.

The Monad team’s TradFi background puts it in a unique position to serve BlackRock and others.

BlackRock is focused on tokenization and chose to use Ethereum to launch a fund.

Additionally we mentioned in an earlier article on how Franklin Templeton was a first mover to bring assets on chain via Polygon.

With this being a trend, Monad has an opportunity to bring institutional investors on its blockchain.

Additionally, while Monad has been in private beta, the team has created meaningful partnerships.

These partnerships that Monad form in the private beta phase will set the foundation for the type of projects that will build on the protocol.

Conference season is here so having a visible presence is key as the team already has demonstrated.

However, there are other ways that Monad can continue its current push to build community.

Monad can host online activations for the community to meet and become close.

If the Monad community is close, the community will be able to drive activity when the token is launched.

CryptoJeter is your passage to discovering insights within transformative startups and essential topics in the crypto industry.

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Topics Covered

1. Exposure to builders and investors

2. Bonding with the crypto community

3. Crypto narratives discussed by builders

The Story📝

Until last month, the city of Denver largely felt very foreign

As a sports fan, I may catch the Broncos or the Nuggets on TV.

More recently, watching Coach Prime lead the Colorado Buffs took the sports world by storm.

However, I never realized the significance of Denver in the crypto space. 

Last month, I was fortunate enough to travel to the city for EthDenver. 

EthDenver was an awesome experience. 

For me, my EthDenver trip began while I was on the plane in New York. 

The JetBlue flight I was on had so many “crypto bros” on it that we had to stop in Detroit for fuel.

But seriously….

The flight was 85 percent filled with builders in crypto. 

I was able to learn about various projects and build rapport with people that can hopefully lead to partnerships. 

After we landed, I met with an existing friend for dinner in downtown Denver.

Who knew Denver had pretty good Mexican food? 

More importantly, this dinner featured some diligent investors who LIVE crypto. 

This was important to learn not only new narratives in the space

But also figure out how we can share value. 

Thus, in the first hour and a half in Denver, impactful business discussions were had. 

You know what was even cooler?

I built rapport with smart, passionate, people who lived all over the world.

There were a lot of people living in New York, which crypto ecosystem seems to be forever growing.

To hear stories about the innovation happening in Europe, Asia, and Latin America shows how impactful this technology will be. 

Outside of the crypto festivities, the city of Denver surprised me. 

The weather was nice and the air was crisp. 

Also, EthDenver has become a major part of the community. 

In every Uber that I was in, the driver was lightly knowledgeable about crypto.

Additionally, crypto projects were highlighted everywhere.

I saw crypto projects like Injective being placed on billboards or buses like Zetachain. 

It was the perfect place to assemble people in the crypto community.

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Fostering Community and Advancing Crypto Innovation

As mentioned earlier, there were a ton of people in town to discuss crypto and do business. 

I had a few one-on-one meetings which are always better than virtual calls. 

Outside of the one-on-ones during the day, I also built community through group happy hours. 

Notable organizations in crypto like GSR and Sei hosted some awesome happy hours. 

While taking ice shots and throwing the ice material shot glasses at the bell was fun,

There were a ton of learnings from the founders and investors who were at the event. 

Additionally, many of the narratives that were discussed revolved around DePin, AI, modular networks, and gaming. 

There were also conversations about both non-EVM blockchains and Layer 2’s built on Ethereum.

A couple of platforms that dominated the Ethereum scaling conversation were Monad, Linea, and Metis. 

More importantly, it was inspiring to see how diligent founders were working during the bear market. 

These warriors survived a very challenging time and continued to be creative to build unique experiences that progress the future of this technology.

EthDenver Unites Innovators to Shape Crypto's Future

The crypto industry is hot right now. 

Bitcoin is getting closer to all-time highs, which made EthDenver even more special. 

The energy in Denver was electric and we all bonded over the industry's future. 

It was a place to learn about new technologies in the nascent space which will not only drive new topics for the CryptoJeter newsletter

But also provides value to understand where the future of the industry is going. 

Thus, CryptoJeter will be able to focus more on the most relevant categories of our nascent industry. 

More importantly, it was great to build rapport with the builders who stared down the adversity of a bear market. 

By surviving the challenging market, these founders drove advanced product functionality. 

After this experience, CryptoJeter will remain at the forefront of championing these pioneers.

CryptoJeter is your passage to discovering insights within transformative startups and essential topics in the crypto industry.

Blockchain technology will disrupt life’s normalities like finance, social media, and art. If you are curious about how crypto will impact your world, be sure to subscribe.

Feel free to reach out:

Twitter: @cryptojeter Email: Jeter@cryptojeter.com

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Topics Covered

1. Growth of the Sports Betting Industry

2. Incumbent Interest in Web3 Technologies

3. Web3 Native Betting Platforms

4. Brief Thoughts on Next Steps

Quick Notes🏃‍♂️

In the Web2 space, DraftKings and FanDuel dominate sports betting. 

The global sports betting industry was worth 235.46 billion dollars

But only until recently has the U.S. legalized gambling federally. 

Thus, there is a ton of opportunity for the global market to increase. 

The future of sports betting is likely to be shaped by the utility of NFTs and DeFi platforms.

Full Analysis📝

Web3 and Vegas Drive Growth in Booming Sports Betting Industry

There aren’t many activities that are as popular as sports betting.

The sports betting industry is only growing.

In 2022, the industry was reported to be valued at 235.46 billion dollars worldwide. 

Last month alone, sports betting in New York generated over 200 million dollars in revenue. 

As with most industries, Web3 and blockchain technologies are disrupting sports betting.

Stake, the platform endorsed by Drake, is a crypto-friendly platform.  

Another signal that sports betting is becoming more popularized is the league’s presence in Las Vegas.

This year, the Super Bowl was hosted in the city. 

The host site comes after the Las Vegas Raiders moved from Oakland 4 years ago. 

Additionally, the NBA has expressed interest in a potential expansion team in Vegas as well.

Thus, the epicenter of gambling is becoming even more ingrained into sports culture. 

This comes at a time when crypto is merging with sports.

The Lakers recently changed their stadium name to the Crypto.com Arena. 

Sports betting is at the intersection of the crossover of these two phenomena.

DraftKings and FanDuel Lead as Web3 Shakes Up Sports Betting

The two top sports betting platforms in Web2 are DraftKings and FanDuel.

For context, FanDuel generated over 3 billion dollars in revenue in 2022.

DraftKings was 2.24 billion in the same year. 

Now these big players have to compete with the aforementioned Stake, and other platforms that are crypto-friendly.

The Web3 crypto industry is very nascent

But is paid attention to by larger incumbents 

Thus, we’ve seen companies like DraftKings embrace Web3 technologies.

DraftKings leaped to explore Web3 technologies to provide to their users.

The sports betting platform created NFTs and a community called the Reignmakers. 

By being a Reignmaker, DraftKing’s users get ownership of athlete collectibles. 

These collectibles provide users with unique fantasy games where they can win prizes. 

FanDuel isn’t as invested in Web3 but has served as a training ground for new Web3 founders.

Thus, it seems like DraftKings will be competing with more Web3 native companies rather than incumbents.

While it is technologically forward for DraftKings to be involved in Web3,

Draftkings is a centralized entity.

Draftkings, casinos, and other gambling onramps control the odds. 

Additionally, they are more likely to be affected by fraud and manipulation.

Centralized gambling also does its payouts slower than a decentralized platform. 

Lastly, centralized sports betting platforms can limit the winnings of top betters. 

Innovating in the sports betting industry has gaps that DeFi platforms can solve.

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NFTs and DeFi Experiences Could Revolutionize Sports Betting

The future of NFTs has always been within the utility that they offer. 

DraftKing’s NFT experiences take a long-term approach to Web3. 

Thus, DraftKing’s Reignmaker experiences aim to bring users closer to the action. 

As mentioned earlier, Web3 native products will be more prevalent in the sports betting industry.

Former Fanduel executives left the Web2 giant to form a company called BetDEX. 

BetDEX has since evolved to become the first decentralized sports betting platform on the Monaco Protocol. 

The Monaco Protocol also powers Purebet, a chain-agnostic sports betting aggregator

Since being founded, the Monaco Protocol has matched over 8 million dollars in bets. 

Another popular platform in Web3 is SX Bet which is one of the largest betting sites in the world. 

After the company launched, in 2022 the platform generated $180 million in volume. 

SX is hoping to disrupt the sports gambling industry by slashing costs by 90 percent.

While there is innovation occurring in this space, US users aren’t able to access these platforms.

However, some DeFi sports betting platforms haven’t left US consumers. 

Bundles Bets is the first licensed Web3 sports betting and prediction platform. 

The US sports betting industry is new with the activity becoming legal nationwide.

But the two players that make up the largest market haven’t had to face as much competition. 

Thus, Bundles Bets and other web3 sports betting platforms have disruptive potential in the industry.

Web3 Reshapes Sports Betting from Incumbents to Disruptors

Ultimately, Web3 sports betting brands can not only be relevant in the near term

But can also be disruptive in the long term. 

This signal is validated by incumbents exploring Web3 technologies today. 

With the crypto industry trending positively, it would be interesting to see how they take advantage of the market. 

If incumbents want to go full degen, it would be interesting for them to create tokens.

These centralized companies could not only offer incentives for betting the tokens 

But also drive rewards for using their native tokens. 

Thus, they would be able to catalyze the market to transact in their native token.

Conversely, Web3 platforms have to improve their user experiences. 

Many people like to sports bet on mobile, 

But, many mobile experiences in Web3 tend to be desktop-focused. 

These components can be implemented to incentivize users to use Web3 platforms.

Ultimately, this industry could not only be a central narrative in this current market

But also be a space that drives adoption in the nascent crypto industry.

CryptoJeter is your passage to discovering insights within transformative startups and essential topics in the crypto industry.

Blockchain technology will disrupt life’s normalities like finance, social media, and art. If you are curious about how crypto will impact your world, be sure to subscribe.

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Topics Covered

1. Current State of the Savvy DeFi Platform

2. Future Opportunities for Savvy DeFi

3. The Founding Team and Their Expertise

4. Suggestions for Strategic Growth and Marketing

Quick Notes🏃‍♂️

The team behind Savvy brings a blend of banking, technology, and software development expertise, positioning them well to drive the platform's growth.

Savvy is building a decentralized credit protocol that stands out by eliminating liquidation risks.

By doing this, it allows borrowers to maintain exposure to their collateral.

The protocol has to face the same UX experience issues that plague all of DeFi

Thus, Savvy has the opportunity to educate users to keep them on their platform and interested.

Savvy can potentially expand its community which will not only drive users to the protocol

But could also improve the current product and drive new product iterations.

Additionally, the team has garnered support from the Arbitrum Foundation to build Savvy.

Savvy has a ton of untapped potential and it will be exciting to watch the project grow.

Full Analysis📝

Innovating Credit in Arbitrum's Ecosystem

DeFi applications are the backbone of Layer 2 protocols.

Recently CryptoJeter has focused on DeFi applications within the Sui ecosystem (Link).

But Arbitrum is also creating a lot of value in the DeFi segment as well. 

Currently, the total Arbitrum ecosystem has nearly 3 billion dollars of total value locked according to DeFi Llama. 

Projects driving this value include GMX, Pendle, and Balancer. 

This week, we will dive into one of Arbitrum’s DeFi platforms, Savvy DeFi.

Savvy DeFi is a decentralized credit protocol.

The protocol eliminates the risk of liquidation while providing immediate liquidity to borrowers.

Most importantly, Savvy allows borrowers to maintain exposure to their choice collateral. 

Unlike the names above listed projects, Savvy has nearly 550 thousand dollars of TVL.

The lower TVL shows how early the project is in its development,

Thus making it a perfect time to learn about Savvy. 

Savvy’s differentiated approach offers a new range of unique decentralized credit solutions.

Savvy DeFi Simplifies Asset Strategy for Web3 Users

Before using the Savvy DeFi platform, have your ARB bags already ready to use

Additionally, have some Ethereum in hand on the Arbitrum network to execute the transactions

Savvy’s users may have to bridge assets from different networks or purchase them. 

Bridging assets takes more than a few minutes to execute which can drive attention elsewhere.

This is no fault of the Savvy DeFi team or product, 

But it is an inconvenience and could take more time than expected to execute lending or borrowing.

Thus, Savvy may be more appealing to a web3 native audience instead of new market entrants. 

After users get their bags, the process is standard to using other DeFi platforms. 

Users connect their wallet using an in-site connect wallet button. 

Currently, Savvy enables users to connect Metamask, Coinbase Wallet, and WalletConnect. 

These are the most common wallets in Web3. 

Thus, it is very easy to log in and use the Savvy DeFi Platform. 

After connecting with their wallets, users can deposit a collateral

Then they can choose a strategy that suits their desires. 

Certain strategies may be more aggressive than others and offer different returns. 

Currently, Savvy has strategies for USD stablecoins, Bitcoin, and Ethereum. 

The stablecoins that are currently producing the highest yield are LUSD.  

Once the strategies are chosen, users go through a two-part approval process. 

This is very helpful as it ensures Savvy’s users are 100 percent confirmed in their transactions.

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User Experience and Product Expansion is Key

Like many DeFi products, Savvy has the opportunity to improve upon its user experience.

Savvy currently seems to be a consumer-focused application instead of an institutional one. 

If this is the long-term strategy, the platform should be progressively easier to use. 

As mentioned above, it is challenging and time-consuming to not only switch to Arbitrum

But also bridge assets to do so and/or purchase from a third party to bring the liquidity to Savvy.

Thus, Savvy has a role to play when educating users.

One thing that could be helpful is to have a video/interactive experience with user instructions

This experience should not only explain the end-to-end process of use 

But also flag things that may take time.

For example, if someone has to bridge an asset to Arbitrum,

The video can say “Set a timer for 15 minutes to let your transaction complete”. 

By doing this, Savvy can increase the stickiness and trust of the users. 

Savvy also has the chance to increase its product suite. 

As mentioned earlier, the current yield strategies focus on stablecoins, Bitcoin, and Ethereum. 

It would make sense for the strategies to expand to other assets like Solana or Arbitrum. 

Additionally, as the utility of the platform continues to increase, 

Savvy can bring more assets on the platform like RWAs. 

By expanding the assets, Savvy has the opportunity to not only penetrate different markets

But also be a project that provides a differentiated user experience. 

Thus,  Savvy can connect with new communities and drive new value to the protocol. 

Savvy DeFi Founders Blend Experience to Build the Future

The team at Savvy DeFi is balanced in skill set.

Savvy’s founders are Roman Giler, Glupta, and Ramsey Khadder. 

Roman has a wide range of experiences such as being a Private Banker at JP Morgan. 

Prior to joining JP Morgan Roman cofounded Lettuce Pay which was acquired.

At the beginning of his career, Roman was an account executive at AT&T. 

Glupta is a multiple-time founder as he’s built many technology consultancies. 

Prior to Savvy, he built Okaya which enabled him to launch hundreds of products yearly. 

Additionally, Ramsey has a ton of technical experience. 

He has spent time as a software developer at Stripe and Microsoft. 

Ramsey also previously worked with Glupta at EliseAI. 

The founding team has skill sets that compliment each other.

They have chemistry from prior experiences and once you meet them…

You can feel their passion for not only their own project 

But how they believe Savvy will advance the core principles of decentralized technology. 

Thus, the product which will drive significant value of the project if successful.

Unlike many crypto projects, Savvy is solely a community backed business. 

In a prior CryptoJeter article, we dove into how the project leveraged Fjord Foundry to raise funds. 

However, Arbitrum recently gave Savvy a grant as a part of its Short-Term Incentive Program. 

As a part of this program, 200,000 ARB was given to Savvy DeFi to distribute to its community. 

This relationship that Savvy has with Arbitrum can potentially lead to more funding to build. 

Savvy Can Harness Community and Innovation to Drive Protocol Growth

Savvy is a burgeoning project within the Arbitrum ecosystem. 

Arbitrum recognizes its potential and Savvy is all-in on building on the network. 

Users might explore Savvy for its unique DeFi experience.

Savvy has much room to grow its product suite which will be able to fill user’s needs.

Plus, in Web3, it usually pays to be an early user of new technologies.

The Savvy team has the opportunity to capitalize on the curiosity of Web3 users. 

The team is already focused on not only building the best product

But also incentivizing users to use it. 

Savvy should continue to build community and influence users to use the product. 

During the bull market, Savvy has the opportunity to run real-life activations. 

These activations will not only gather and activate a strong in-person community 

But also be great tools for broad social engagement such as memes and other posts. 

Thus, showing the personality of the ecosystem could drive more usage on the platform. 

Savvy can continue to not only engage and invigorate its current community 

But also expand into new communities to build products for the masses. 

Ultimately, Savvy has an awesome opportunity to drive growth to the protocol.

CryptoJeter is your passage to discovering insights within transformative startups and essential topics in the crypto industry.

Blockchain technology will disrupt life’s normalities like finance, social media, and art. If you are curious about how crypto will impact your world, be sure to subscribe.

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Wallet (Donations Appreciated): CryptoJeter.eth

Topics Covered

1. Rise in Development on Sui

2. Scallop’s Rise in Trust and Usage

3. Growth Strategies for Scallop

4. Scallop’s Team and Supporters

Quick Notes🏃‍♂️

Scallop Protocol boosts the Sui network with its lending and borrowing platform, attracting developer interest and user engagement.

The protocol’s TVL has only increased in the last few months and it has launched an airdrop campaign.

The airdrop campaign positions Scallop to not only attract more users

But the campaign could also boost user retention for their engagement.

Thus, Scallop can be a major force within the Sui ecosystem.

Scallop’s APAC based team positions it to drive a large user base.

With that in mind, the platform has gained backing from VC investors.

Ultimately, Scallop Protocol has a lot of potential to be a force in DeFi.

Full Analysis📝

Scallop Protocol Ignites Sui Network Growth with DeFi and Airdrops

Last week, CryptoJeter highlighted the burgeoning Sui ecosystem.

In that article, we highlighted the rising developer interest in the Sui network.

Projects have started to engage users with the bull market only getting stronger.

More Web3 organizations are incentivizing users with airdrop programs.

One project that drives activity using airdrop incentives is the Scallop Protocol.

The protocol went on Sui mainnet early in 2023 and is serving a necessary use case.

Scallop is creating a platform to enable lending and borrowing on the Sui blockchain.

A comparison to Scallop’s capabilities is more established DeFi protocols like Aave.

The Sui network is growing rapidly and needs builders to create foundational capabilities.

Scallop is building the use case to enable lending and borrowing on the Sui blockchain.

Scallop's Soaring TVL and Innovative Airdrops Amplify DeFi on Sui

DeFi is a category that tends to be the first products on blockchains

With Sui’s rising popularity, Scallop is taking on the challenge of building out that capability.

The DeFi protocol is following a similar growth trend as the native layer one.

Scallop currently has a TVL of nearly 110 million dollars.

This is more than double the project’s December 2023 TVL, which was 40 million dollars.

Additionally, Scallop’s airdrop rewards users for lending and borrowing on the platform.

Currently, users can deposit stable coins to do these actions.

Depositing capital in the app benefits lenders as they can earn yield.

The user experience of Scallop is similar to other decentralized finance platforms.

For those unfamiliar with this process, there is generally a wallet connect button.

Initially, for the platform, users would need to download a Metamask Snap wallet.

Snaps are open-source adaptations of the Metamask wallet which extends its functionalities.

Kuna Labs developed a Sui snap which was the primary wallet.

However, Scallop now enables users with Sui Wallet, OKX, and Martian Wallet to connect.

For using the platform users receive points which make them eligible for rewards.

Currently, Scallop is in Phase 2 of its airdrop event.

Users who participate in the airdrop will accumulate points based on their activity.

These points enable users to earn Mystery Pearls which are redeemable for rewards.

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User Experience, Growth, and Partnerships is Key for Scallop’s Growth

Every blockchain has builders looking to build unique use cases in DeFi. 

Even if Scallop doesn’t have top-notch competition on the Sui blockchain, 

It will need to compete with products that are native to other chains as well. 

This is especially true as the crypto space becomes more interoperable and multichain.

Thus, Scallop will need to create the best user experiences for DeFi users.

It makes sense for the team to conduct surveys and work with advisors to gain user feedback.

With this feedback, the Scallop team can identify and build for its user’s pain points.

Additionally, the Scallop team may be missing the moment if they don’t focus on business development. 

As mentioned earlier, the Sui blockchain is growing very rapidly. 

Thus, this growth period presents the opportunity to penetrate the DeFi market. 

By focusing on building a brand and securing partnerships,

Scallop can increase the amount of lending and borrowing volume. 

Increasing this volume potentially will not only create consistent revenue 

But also drive more awareness for the Sui blockchain.

Scallop has a Global Team and Strategic Backing to be Successful

Scallop’s founders are based in Taiwan with the team 

But is dispersed throughout APAC and likely beyond. 

Thus, the startup has positioned itself to penetrate this market that has widely embraced crypto. 

Scallop was founded by Kris Lai and Donnie Chen. 

Both founders have computer science backgrounds from Taiwanese universities and have spent time as developers. 

The funding of the project appears to be undisclosed 

But, the team revealed it has funding from Mysten Labs, Sui’s core developer. 

Scallop also has the support of venture capital firms Comma 3 Ventures and OtterSec. 

Additionally, Cetus, another popular Sui DeFi protocol, is a financial supporter of some kind. 

Outside of Cetus, Scallop was the first project to receive a grant from the Sui Foundation.

Scallop’s docs also mention a token that would make coin offerings a plausible pathway. 

The project’s Taiwanese roots could make it likely to list on APAC-based exchanges due to geographical proximity. 

This is another reason why it makes sense to concentrate on business development at this time.

The Advantages of Being an Early Adopter with Scallop

Understanding how Scallop works and being an early adopter may have benefits. 

Scallop is currently rewarding early adopters through its airdrop

But the team has to drive their users to add value beyond using the product. 

Thus, Scallop has the opportunity to use its audience to create an industry-leading user experience.

By gaining direct product feedback, Scallop could be able to compete with other DeFi projects. 

Users should also look into using Scallop.

The team has shown a willingness to reward its users and wouldn’t be surprising if that continues. 

Thus, early Scallop users have the opportunity to play a crucial role in Scallop’s ascension.

Ultimately, the early adopters of the platform could receive meaningful rewards for their dedication to Scallop.

CryptoJeter is your passage to discovering insights within transformative startups and essential topics in the crypto industry.

Blockchain technology will disrupt life’s normalities like finance, social media, and art. If you are curious about how crypto will impact your world, be sure to subscribe.

Feel free to reach out:

Twitter: @cryptojeter Email: Jeter@cryptojeter.com

Wallet (Donations Appreciated): CryptoJeter.eth

Topics Covered

1. Origins of the Sui Network

2. Developer Interest in the Sui Network

3. The Team Building the Sui Network

4. Strategies to Optimize the Bull Market

Quick Notes🏃‍♂️

Sui is a layer-one blockchain, is swiftly emerging as a dominant force.

It is not only gaining traction with nearly 10 million wallets

But it also has a suite of applications built on it.

Thus, these applications enhance their usability for users and developers.

It was created by the visionary team at Mysten Labs.

Sui's ascent is propelled by the innovative programming language, Move.

Move offers developers unparalleled flexibility to build their desired dApps.

The blockchain's surging popularity positions it as an emerging platform.

Thus, signaling the network has the potential to be a major competitor in crypto.

Ultimately Sui should embrace this bullish market cycle.

The network cannot miss the chance to bring more developers to the platform.

Thus, initiatives will likely be created to make that a reality and have exponential growth.

Full Analysis📝

Exploring the Rapid Ascent and Potential of Sui

There is a new layer one blockchain that is gaining immense traction in the last few months. 

This week we are diving into Sui. 

The network is an emerging blockchain that is catching fire and has a lot of potential. 

Sui was created by Mysten Labs, a company focused on building tomorrow's internet.

It has since become a very popular blockchain with nearly 10 million wallets. 

With Sui being the foundation of the ecosystem, 

Mysten Labs has also built complementary apps to make the Sui network usable. 

These include the Sui Wallet, Sui Explorer, and the Sui Name Service. 

Based on these apps, it is clear the Mysten team is taking experiences from top Web2 companies into Web3. 

As an emerging network, Sui has a lot of work to do 

But the blockchain has a ton of upside potential. 

Thus, it is attractive to developers who are looking to build unique use cases. 

Being built on the move network allows developers to create their desired dApps with ease.

Sui is rising very rapidly and could be a network that has instrumental potential in fostering widely adopted applications.

Capturing Developer Interest and Forging a New Path in Blockchain Innovation

Since its launch in May of last year, the Sui blockchain has risen in popularity. 

According to Electric Capital’s most recent developer report,

More new blockchain developers chose to build on the Sui than Cardano, Ripple, and Tron. 

Cardano, Ripple, and Tron have all launched over 5 years ago. 

Thus, Sui has been able to drive developer excitement for a fairly new project. 

The primary language for the Sui blockchain is Move. 

The increase in developer interest in Sui could be speculation on token appreciation

But another factor could be the flexibility that the Move language offers developers. 

Move ensures that code is safe and secure while also letting developers freely create and manage their own types of digital assets and write detailed rules for transactions.

Thus, developer flexibility enables developers to build a wide range of dApps. 

The Sui ecosystem is evolving, 

Thus, Sui is hosting its first flagship conference, Sui Basecamp, this year in April 

Hosting a flagship conference places Sui in the same category as Solana and Avalanche.

Successful conferences demonstrate developer and economic interest in the chain. 

Currently, there are 85 projects built on Sui that are listed on the layer one’s directory.

But many of them are very new in their development. 

For example, the largest DEX on the Sui network, Cetus, launched closely after the network. 

Thus, both have been live for under a year which means that there is large growth potential. 

Since the beginning of the year, derivatives volume in the Sui ecosystem has reached $124 million.

This demonstrates growth of more than 100% in the last 30 days alone.

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Potential Strategic Moves to Ignite Growth and Catalyze Blockchain Innovation

As mentioned above, increased developer activity is a positive sign for Sui.

With the bull market quickly on the horizon,

It is the ideal time for developer activity to be increasing.

New projects will be built on the protocol which increases users and use cases. 

Additionally, Sui will become a better protocol with a larger developer community. 

Thus, Sui will be able to add value to the broader ecosystem and challenge incumbents. 

If Sui is seen by retail investors as a project with a high upside, it will attract liquidity. 

Traders will be attracted by Sui’s developer excitement, increase in market activity, and positive news cycles. 

But long-term Sui believers will be very bullish on the network’s expanding ecosystem. 

Additionally, they will take a longer bet on Sui’s rise in developer activity.

Sui is in a position to attract liquidity in near and long-term cycles.

Thus, if the team executes a strategy, Sui’s network value could increase dramatically. 

Something that Sui should prioritize is pushing to drive more developers on the network. 

It sounds very simple as that is a priority for most,

But Sui has momentum and can rapidly grow in this crypto market which is projected to expand. 

Thus, Sui should incentivize developers to build on the platform. 

Sui should be very intentional about what intrigues the developers. 

To discover the developer pain points, Sui should get direct developer feedback. 

One thing the team can do is create surveys with meaningful and thought-provoking questions. 

To get new developers to provide meaningful feedback, they can connect their wallets.

For people who provide informative feedback, Sui can distribute tokens as a reward. 

Additionally, it is important to note that Sui also has a grants program. 

Thus far, the program has deployed over 4.5 million dollars to over 86 projects. 

In this moment, Sui can ramp up developer activity by increasing grant funding. 

Specifically, Sui can request grant proposals from developers.

Sui requesting grant proposals can direct dApp development to expedite desired use cases. 

In general, ecosystem development is incredibly important for Sui. 

Using the prior mentioned ideas, Sui could also run a launch pad 

Or they could partner with an accelerator like Techstars or Outlier Ventures. 

Thus, they can progress and get companies in their ecosystem capital to grow.

Targeting these strategies could be a great step toward experiencing rapid growth in the bull market.

Mysten Labs' Stellar Team Fuels Sui's Blockchain Innovation

The Mysten Labs founding team is composed of 6 people who are Meta alumni.

Evan Chang is the CEO, Sam Blackshear is the CTO, Adeniyi Abiodun is the CPO, 

Kostas Chalkias is the Chief Cryptographer, and George Danezis is the Chief Scientist.

True to the Meta roots of the team, Evan was the former Director of Research at Novi Financial.

Additionally, Evan is also an Apple veteran who spent nearly a decade at the firm. 

With this experience at Apple, Sui is positioned to take design knowledge and apply it to Web3. 

Sam is most lauded for his contributions toward the creation of the move language.

Move is the programming language of the emerging Sui Network. 

He also has a Ph.D. from the University of Colorado where he made contributions to many publications. 

Adeniyi adds a significant amount of blockchain expertise before his time at Meta. 

He is the founder of Cloud Hashing, a Bitcoin cloud mining platform that exited in 2014. 

Since then he became a blockchain-focused product leader at VMWare, Oracle, and Meta .

Kostas also has been a founder before by co-founding Safemarket and Erybo. 

Post these two endeavors, he became the cryptographer at R3 and then Meta. 

George has a robust history in academia as he has a Ph.D. from the University of Cambridge. 

He’s since done research from the university along with Microsoft, Chainspace, and the University of London. 

Ultimately, Mysten Labs has a founding team that covers the core aspects of a crypto project.  

While the Sui blockchain they created does not have direct ties to the Diem concept.

Diem was a blockchain that Meta was developing,

But the project stalled. 

Assuming the Mysten Labs founding team gained exposure to Diem, 

It makes sense for web3 to have been the next step in the team’s career journey. 

Additionally, the Mysten Labs team was able to secure funding from reputable venture capitalists. 

These include A16z Crypto, Jump Capital, Coinbase Ventures, Electric Capital, and Circle.

With this type of talent at the beginning of the project, it makes sense that the team would be able to raise millions of dollars from reputable investors.

Unlocking Potential and Charting a Strategic Vision for Sui's Growth in the Blockchain Ecosystem

At this point in time, Sui has the chance to spur immediate growth, paving the way for long-term success.

To be able to have success, 

The network has to incentivize developers to build the best dApps on the platform. 

However, there will be fierce competition from other chains to do the same thing. 

Since Sui is a newer platform, it has to capitalize on its existing momentum. 

But to lure developers to the platform, Sui needs to incentivize developers to use the platform. 

Thus, Sui has to execute business development strategies to accelerate the process immediately.

Developers should look into using the Sui network as the move language allows for flexibility.

Additionally, the network is less than a year old. 

Thus, there is a high upside for developers to use the platform and be well rewarded. 

The high upside of using projects on an emerging network will also drive users as well. 

New dApps deployed on the Sui blockchain,

Thus, users have to contribute by using these applications and contributing to communities.

Those who do contribute have the potential to be rewarded for not only strengthening the dApps 

But also the Sui network. 

Sui is poised to transform its current momentum into a lasting footprint in the crypto landscape.

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Topics Covered

1. The Continued Evolution towards a Multichain Future

2. Sei Network Brings Unparalleled Speed to Market

3. Developing a Parallelized EVM Platform

4. Developer Interest Outside of Ethereum

Quick Notes🏃‍♂️

The blockchain industry is evolving towards a multichain future, driven by new Layer 1 chains designed for specific use cases.

This shift is a response to limitations in Ethereum's transaction speeds, encouraging developers to seek platforms that deliver better user experiences.

Sei network has emerged as a key player, prioritizing transaction speed to attract developers and projects, offering high transaction throughput and quick finality times.

In response to the growing trend of multichain development, Sei is creating the first fully parallelized EVM, aiming to enhance scalability and efficiency.

This development is part of Sei's strategy to improve overall user experiences and foster stronger partnerships with other EVM-compatible chains.

Sei Network is strategically positioning itself for growth in the upcoming bull market, targeting developers from the Ethereum ecosystem and beyond.

Full Analysis📝

Sei Network Pioneers the Evolution of Crypto with Specialized Solutions for Trading and Beyond

In 2024, it is all but inevitable that the future of the industry will be multi-chain.

Since this debate, many new L1 chains have been innovated.

As we migrate to this future, new chains are being designed for specific use cases.

Why? 

Because Ethereum, the original L1 with dApp development in mind, struggles with insufficient transaction speeds.

With this in mind, developers aim to build on foundations that provide their customers with the highest quality user experience. 

As a reader, please remember that the crypto industry is still less than 20 years old.

But in its infancy, there is a lot of discussion regarding the validity of the technology.

Thus, speculation makes sense as the primary use case of this groundbreaking innovation.

Currently, trading is the way that the average person interacts with the crypto space.

But as this space matures, the adoption of products leveraging technology will increase.

While many correlate trading with candlesticks,

Trading impacts as most crypto applications heavily rely on trading functionalities. 

Thus, the Sei Network (SEI) was created to focus on the near-term use case and will aim to evolve as the demand for new abilities becomes less opaque. 

Since its inception, Sei has rapidly expanded, becoming a key player in the crypto ecosystem with its innovative features and growing influence in decentralized finance.

Capturing Developer Interest with Unmatched Speed in the Rising Tide of Web3 Innovation

As mentioned earlier, developers are seeking other chains to build on than Ethereum.

Additionally, Electric Capital reported that new crypto developers wrote code in Ethereum.

This was 2.7 times greater than the next ecosystem and points to Ethereum’s massive developer share.

But it should be noted that over 6,000 new builders chose to build on Polygon.

Additionally, another 4,700 new developers chose to build on Solana. 

Thus, it’s likely that Ethereum benefits from being a first mover in dApp development. 

Sei is launching at a time when the hunger for building in web3 is rising. 

The ecosystem has attracted nearly 120 projects to the ecosystem. 

Keep in mind that the network went live in August of 2023. 

This rise in interest for Sei stems from existing L1 blockchains' struggles with scalability, reliability, and speed. 

But the area that Sei prioritizes is speed. 

Currently, Sei has a faster transaction output than other top layer 1 networks.

For example, at 20,000 orders per second, Sei’s transaction output is double Solana’s. 

Ethereum doesn’t even compete in this metric.

The pioneer’s output is 20 transactions per second.

Sei’s transaction finality time is 380 milliseconds.

Thus, trading is the primary use case for the blockchain.

The Electric Capital developer report highlights the surge of new crypto developers correlates with the price action.

With a bull cycle on the horizon, Sei is positioned to drive traction for new developers.

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Crypto Innovation with Strategic Focus and Elite Backing from Industry Titans

The team at Sei Network has identified transaction speed as an area to focus on. 

Thus, it has acquired capital from top venture firms in the crypto ecosystem. 

These include Multicoin Capital, Jump Crypto, and Coinbase Ventures. 

Sei was founded by Jeff Feng and Jayendra Jog who have complementary skill sets. 

It would make sense for the team to be successful in fundraising as Jeff has a strong financial background.

Before co-founding Sei Labs, Jeff was a member of the TMT team at Goldman and a venture investor at Coatue. 

Jayendra is a former software engineer at Robinhood for three years.

At Robinhood, Jayendra focused on crypto withdrawals. 

Merging investor experiences with crypto trading expertise is a strong signal for Sei’s vision.

Most recently, Sei made a key hire to the team in the ecosystems, Justin Barlow.

Justin is a founder who’s exited and most recently an investor with Solana Ventures. 

His presence should help Sei expand its footprint within the crypto industry.

Sei Network's Vision for a Parallelized EVM Future

As mentioned earlier, developers are choosing to deploy applications on various chains. 

Multi-chain developers have increased 10 times since 2015. 

Unsurprisingly, Ethereum's developer influence leads most to build on EVM-compatible chains.

Developers don’t have to only deploy their dApps on the Sei network. 

Currently, Sei sees this opportunity as the network is preparing to launch its V2 upgrade. 

According to Sei, EVM compatibility has been top of mind for many developers. 

Thus, Sei is building the first fully parallelized EVM.

Parallel processing significantly increases the throughput of the blockchain. 

This allows the chain to not only handle more transactions in a shorter period

But also improve the overall scalability and efficiency of a network. 

Thus, blockchains can meet the demands of growing ecosystems of users and applications.

With this developer demand, partnerships with other EVM-compatible blockchains make sense.

Sei’s transaction speeds should be very attractive to developers.

But, other chains may offer value that Sei developers are interested in leveraging.

Thus, these partnerships can progress better user experiences for developers. 

Additionally, increasing-price actions are predicted in the near term.

Thus, more new developers may enter the crypto space en masse. 

If Sei follows the data, the team may be interested in growing its early developer event presence. 

This would enable the team to gain exposure to new crypto developers and grow Sei’s brand.

Additionally, education is still a priority and will be a central focus as the market improves. 

It wouldn’t be surprising for Sei to focus on educating builders on the importance of trading outside of DeFi. 

If Sei can educate the market and builders, developers will be more inclined to consider building on the network.

Targeting Developers and Enhancing User Experience for a Stronger Presence in the Crypto Market

Sei has the potential to attract many developers in this upcoming bull market

But the team has to strategize to get developers to experiment with the protocol

Thus, it makes sense to focus on marketing and business development in the near term.

If Sei prioritizes those two things, the Ethereum ecosystem should be a target audience.

Ethereum is the gateway for many developers.

Thus, Sei will be able to grow with developers as their apps become multichain. 

One thing that isn’t talked about that is very important is the importance of trading.

Sei could create a curriculum for developers in crypto to understand why it matters. 

This curriculum can influence developers to explore blockchains with higher output.

Thus, driving more developers to the Sei network. 

Lastly, Sei should continue to drive the user experience not only for developers

But also ensure that end users strongly review the applications built on Sei. 

Ultimately, focusing on growth and user experience will drive Sei’s reputation in crypto.

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Topics Covered

1. BRC-20 Tokens and Bitcoin's DeFi Evolution.

2. Bitcoin's Scalability and Security Issues.

3. KoiPond's Crypto Project Launches and Community Engagement.

4. Potential Growth Opportunities Strategies at KoiPond

Quick Notes🏃‍♂️

Bitcoin is gaining significant traction, especially following the approval of multiple Bitcoin ETFs by the SEC and anticipation of the Bitcoin halving event within 100 days.

But despite the excitement, Bitcoin is primarily viewed as a store of value

Thus, it is not a blockchain with the developer interest as Ethereum for dApp creation.

To make it easier to benefit from the security and stability of Bitcoin the BRC-20 token was created.

KoiPond Pond focuses on leveraging Bitcoin's strengths to innovate.

This is done by uplifting other projects through BRC-20 token launches.

KoiPond adds value to projects by not only ushering fair practices during launch

But also providing comprehensive support in marketing and public relations.

Thus, KoiPond aims to accelerate the facilitation of various financial activities on the Bitcoin network.

Full Analysis📝

KOI Pond Ushers in a New Era of Bitcoin's DeFi with Innovative BRC-20 Tokens

We are officially at the beginning of the crypto bull cycle.

Bitcoin has been the narrative that has gained a lot of traction.

Recently, many Bitcoin ETFs were approved by the SEC, begrudgingly. 

Additionally, the industry is anticipating the Bitcoin halving to happen in the next 100 days. 

For those newer to the industry, the halving presents a strong possibility of market growth. 

Bitcoin is commonly viewed as a store of value in its current state. 

This is in contrast to Ethereum and other layer 2 protocols which are the foundation for decentralized apps (dApp).

Ethereum pioneered this. 

But, Bitcoin traditionally is not viewed as a scalable foundation for dApp creation.  

Thus, there is a movement to explore building on the most decentralized crypto project. 

One of the newer innovations in the Bitcoin space is the BRC-20 token. 

KoiPond is a project that aims to advance the advancement of Bitcoin through BRC-20 token launches. 

These token launches promise to fuel the future of the finance and utility of the Bitcoin blockchain.

KoiPond is at the Forefront of BRC-20 Technology

BRC-20 tokens were created in March of 2023 by @Domodata.

These tokens enable data to be inscribed on Satoshis (BTC’s smallest unit)

Decentralized finance (DeFi) is one of the use cases that has gained a lot of traction

This use case has been predominantly developed within the Ethereum ecosystem. 

Currently, these use cases have not been able to be transferred to the Bitcoin network.

Bitcoin’s strong suit is security and stability. 

But with this heavy focus, it struggles with scalability. 

Bitcoin’s scalability suffers due to slower transaction speeds for block completion. 

These transaction speeds ultimately impact the feasibility of running large-scale applications.

Additionally, Bitcoin’s transaction fees can be very hefty compared to other blockchains. 

The high transaction fees on the Bitcoin network make it difficult for developers to create platforms that are affordable for a broad user base.

This hinders the potential to build and sustain a large community of engaged users.

Thus, other platforms have been preferred by developers to deploy their dApps. 

Although Bitcoin has its disadvantages, KoiPond strives to innovate based on its advantages. 

Along with its security, the blockchain has financial origins and a near 100% uptime. 

But it won’t become a purely peer-to-peer version of electronic cash until scalability can be achieved.

KOI is enabling projects to be discovered on their platform and then bridged onto Bitcoin. 

The project not only provides a unique platform for project launches, featuring fair launch practices that counteract botting and whale monopolies, 

But comprehensive support in marketing, public relations, and listing pre and post-launch.

Thus, KoiPond aids in supportive and enthusiastic communities for early-stage products. 

How does the KoiPond platform work? 

After purchasing $KOI, users can participate in BRC-20 launches.

Once a launch is announced by the KoiPond team, users can decide if they want to participate.

Some of the projects are vetted by the KoiPond team themselves.

This ensures that there is a certain quality standard needed to be on the platform. 

Users connect their wallets to the platform similar to other dApps and commit $KOI to the projects.

Ultimately, KoiPond is paving the way for various financial activities such as borrowing, lending, flash loans, and insurance to exist on the Bitcoin network. 

KoiPond Drives Bitcoin Innovation with Successful Project Launches & Investor Growth

KoiPond is enabling the future to be built on Bitcoin 

The launchpad has already launched with two projects.

Ledgity Yield and SatsBridge both had a launch in the first couple of weeks of 2024. 

Additionally, both of these projects oversubscribed their token listings.

Ledgy Yield’s launch was so successful, the team offered airdrops to $KOI holders.

To claim the airdrop, $KOI holders simply needed to take part in Ledgy’s liquidity bootstrapping pool on Fjord Foundry, a platform previously discussed in earlier writings.

Following the successful launches of Ledgy and Satsbridge, KoiPond has become a magnet for new projects seeking to debut on this dynamic platform.

The latest project that is launching on the platform is DeFiTankLand and there are plenty more to come. 

While it’s still early, KoiPond seems like it can be an initial step for projects to pursue. 

Projects not only receive early investor interest, 

But they also gain access to a growing community in a nascent subsection of crypto technology. 

Thus, token acquirers have more invested in the project beyond just the token price. 

Project investors may also build loyalty to KoiPond’s launchpad. 

Suppose projects that launch on KoiPond reach the status of Ethereum or Solana,

Then investors will flock to KoiPond as VCs rush to Y-combinator. 

More importantly, founders will have trust in KoiPond to advance their projects. 

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KoiPond's Anonymous Creators Drive Innovation, Backed by Renowned Advisor

The team building KoiPond is anonymous 

But they have a prominent voice on the team as an advisor. 

CryptoOgle is an advisor of the project. 

They are mentioned as one of CoinDesk’s most influential people. 

Having an anonymous team can be a warning of a scam. 

In many cases, it is wise to steer clear from projects where the team is not visible. 

But SBF was as visible as it gets and we know how that story ended up. 

While having an anonymous team may raise some red flags to investors

There are some pros to being stealth or undoxxed. 

Without focusing directly on the team, more energy can be spent on building the product.

Thinking from an investor’s point of view, an anonymous team enables merit-based evaluations. 

Some founders may be evaluated based on qualities like academic backgrounds.

But that isn’t always the best strategy as it draws bias into the investment process. 

Thus, an anonymous team must prove their value through results. 

KoiPond is slightly de risk due to Ogle’s visible presence 

But it is pivotal to always do your research, even in a fast-moving market like crypto.

By doing diligent research, it is easier to feel comfortable about decisions. 

Strategic Thoughts for KoiPond's Potential for Growth and Impact 

KoiPond has the opportunity to parlay this initial platform into a very valuable project

The project has the potential to obtain a strong amount of deal flow consistently

But will need to scale its vetting processes to ensure the high quality of these projects

Thus, establishing a strong reputation and vetting process is an immediate priority. 

One of the ways to establish a strong reputation is to create transparent evaluation criteria

These criteria will encourage investor participation, especially if they generate returns

KoiPond should work with strong investors and poll what makes a quality crypto project

Additionally, KoiPond should work with founders to discover a fair way to be evaluated. 

Thus, this evaluation criteria should not only drive the user base 

But also follow the team's seemingly results-based ethos. 

KoiPond may also want to drive marketing by providing testimonials or support statements.

Having more content of supporters who are contributors to the industry bolsters KoiPond’s credibility.

Thus, a wider audience and potential collaborators are attracted to the platform. 

Long term, KoiPond can progress into a larger crypto investor.

KoiPond attracts very early-stage projects for the platform. 

Thus, with its discovery element, KoiPond could be an investor throughout a project's life cycle. 

KoiPond is a trailblazer in the BRC-20 ecosystem that is poised for significant impact.

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Topics Covered

1. Progressing AI to Drive Human Productivity

2. Improving LLM Technology and Innovating

3. The Founders and Backers of FetchAI

4. Thoughts About FetchAIs Future

Quick Notes🏃‍♂️

AI is on the brink of a transformative era, significantly impacting how we live and work.

The integration of AI into daily life is exemplified by FetchAI’s developing AI agents.

These agents are designed to increase productivity by taking over tasks.

Thus, these agents free up human time and energy which can upgrade productivity.

When they’re fully optimized, everyone with an AI agent will essentially have a personal assistant.

The burgeoning interest in large language models such as ChatGPT signals a promising future for web3 applications, aligning with the trend towards personalized AI assistance.

The current landscape, marked by the rising popularity of large language models suggests a likely upsurge in web3 applications.

Thus, FetchAI is positioned to significantly increase its position in the market.

FetchAI's roadmap features include AI Agents, a network, and an AI marketplace.

Full Analysis📝

Transforming Human Productivity & AI Collaboration

AI will be completely transformative in how humans live and work.

Productivity will skyrocket productivity and ultimately reduce mundane tasks 

The last time AI technology was mentioned in CryptoJeter… 

We explored Web3’s intersection with crypto. 

One of the projects we mentioned in the last article is FetchAI.

FetchAI has been a top DeFi performer in 2023.

The project is pioneering the advancement of AI agent technologies.

These technologies will drive AI and human collaboration. 

Could you imagine having a 24-hour personal assistant to handle tasks like booking travel plans? 

This ability not only saves time but also energy. 

This energy that is used normally to do these types of things can be used more.

FetchAI is not only progressing with the democratization of time.

It’s optimizing human productivity.

AI Agents and Agent Discovery Drive LLM’s Future

Large language models (LLMs) have become popular with the rising popularity of ChatGPT. 

For context, ChatGPT generated over 100 million users in a mere 2 months.

As the bull market creeps closer, it may be possible for Web3 applications to have a meteoric rise.

FetchAI is one of those apps with the potential to significantly raise its value. 

But the project must execute its ability to navigate the evolving AI and blockchain landscape.

Thus, FetchAI has initiated a roadmap that features AI Agents, Agentverse, AI Engine, and the Fetch Network. 

FetchAI’s primary products are AI Agents. 

FetchAI’s AI agents have a wide range of functionalities. 

As mentioned above, these agents will be able to make life easier for society.

The agents are built by users by leveraging the FetchAI platform. 

With a high priority placed on inclusivity, 

FetchAI believes that anyone should be able to create their own AI agents.

As AI applications expand, there is a need for discovery tools to drive usage.

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To enable AI Agent access, FetchAI’s Agentverse not only helps developers discover agents

But also aids developers in building their own and connecting to other agents.

The user interface is similar to Google and if developers know what they are looking for. 

Fetch AI also has a chat interface called DeltaV that links AI agents in the Agentverse to users.

After reading inputs and deciding on the requested task, FetchAI sources the AI agent for the job. 

Thus, FetchAI is integrating the discovery and building processes in the same network. 

By leveraging the same network, AI agents will use the native token $FET to transact.

This creates an opportunity for the ecosystem to have a consistent volume of money flow.

Engaging The Web3 Community to Progress AI

Community is very central in the crypto industry which bodes well for partnership. 

With the role that FetchAI has in merging blockchain with AI, 

It makes sense to formulate partnerships that would advance the future of both industries. 

FetchAI has aligned itself with SingularityNET, another Web3 AI platform.

By working with SingularityNET, both teams focus on difficulties in accurate multi-step reasoning. 

This paves the way for a transformative future in AI by transcending the limitations of LLM.

Ultimately, these teams are combining advanced reasoning with learning capabilities to create smarter AI. 

AI advancement not only benefits the progression of technology,

But also increases the feasibility and acceleration of the use of AI agents. 

Thus, these AI agents will be able to be connected in a neural-symbolic way to create emergent intelligence. 

Regarding these capabilities, Dr. Ben Goertzel, founder of SingularityNet said

“By combining our neural-symbolic LLMs grounded using knowledge graphs and inference engines with Fetch.ai’s agent technology, we are providing a powerful toolset to overcome this challenge and unlock even more of what AI has to offer. This work has tremendous near-term practical and commercial value and is also an important step on our path toward beneficial decentralized AGI.”

There will be numerous use cases and many real-world applications for AI agents. 

This is expected as founder, Humayun Sheik said, 

"This will empower creators to unleash their ingenuity and build innovative products and services that are both powerful and trustworthy. Ultimately, this paves the way for a more ethical and sustainable future for AI."

With this major opportunity on the horizon, FetchAI has to continue growing with the ecosystem. 

The team needs to continuously work to increase the reliability and quality of its AI. 

While the network is decentralized, FetchAI should heavily invest in its security over time. 

Security is important and AI is only becoming more advanced. 

FetchAI should integrate a product that ensures bad actors aren’t using the network maliciously.

FetchAI’s Path is Forged by Deep Tech Leaders

The CEO and Co-founder of FetchAI, Humayun Sheikh, is a multiple-time founder. 

Before founding FetchAI, he founded itzMe as well as Mettalex. 

Additionally, he was the Chairman of Metalis Group which provided a solid operational foundation. 

As you can tell from the above, Humayun is all in on AI.

He has impacted the space through his innovation but also investments as well. 

Along with being a founder, He is an early investor into Deepmind, a Google Subsidiary. 

Similar to Humayun, Toby Simpson and Thomas Hain are Co-founders of FetchAI.

Toby served as both a COO and CTO during his tenure at FetchAI. 

He was also a former Deepmind developer. 

Thomas has a robust background in academia and was FetchAI’s Chief Science Officer. 

In addition to a robust founding team, FetchAI has the backing of prominent investors. 

Outside of launching an initial exchange offering on Binance, 

Fetch AI recently raised 40 million dollars from DWF Labs.

Strategic Steps Forward FetchAI Could Take

FetchAI could be a revolutionary company.

With ChatGPT already beginning to gain widespread adoption, AI tool demand will rise. 

With this in mind, consumers need to explore using AI to be more productive at home and work. 

AI agents will solve that pain point.

With this in mind, FetchAI should invest heavily in marketing the Agentverse.

Attracting developers is key but it is end users that will ultimately drive company growth. 

Getting non-technical users excited about AI agents and testing the beta product is key.

Additionally, it should drive initial product market fit and give developers direction. 

Fetch AI also presents developers with opportunities to create value.

The best performing AI agents will be recommended to the end users.

Thus, starting iterations on these agents will give developers a head start on this technology. 

FetchAI should also look to attract businesses to the platform.

Businesses have data that will improve the quality of the network.

Thus, the increased quality of the network will drive adoption and revenue. 

The business customer is also a good target as that persona looks for increased operational efficiency.

Fetch AI’s agents have the opportunity to increase the speed of productivity which should drive revenue growth.

Being at the forefront of two key industries, Fetch AI’s development is one to watch.

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Topics Covered

1. Bridging Community and Capital

2. Founder Benefits of Using Fjord Foundry

3. Fjord Foundry’s Evolution

4. Action Items for Founders and Fjord Foundry

Quick Notes✍️

A strong, supportive community can be a fundamental driver of growth and sustainability in the unpredictable crypto space.

But developing that initial community is very challenging.

This has been especially challenging with the decrease in VC funding for crypto projects.

The decrease in funding favors investors so many founders have searched for other options.

Thus, Fjord Foundry provides permissionless access so people can participate in projects looking to raise initial capital and build initial community.

Fjord Foundry has supported over 500 communities and has helped them raise 700 million dollars

V2 of Fjord Foundry aligns with the expected upturn in the crypto market,

Thus, it is likely there will be an increase in token sales and crypto innovation.

The increase in innovation will require Fjord Foundry to continue rigorously curating projects.

In the future, Fjord Foundry has the opportunity to partner with more curators to control quality.

Full Analysis📝

Fjord Foundry Bridges the Gap Between Community Growth and Funding

A strong community is the most important aspect a crypto project can have.

For reference, Ethereum’s developer community has grown from 1,084 to 5000 in 4 years.

Finding capital in the crypto bear market has been a struggle for many founders in the space.

Relative to prior cycles, VC funding has declined significantly.

In 2023 only $10.7 billion dollars was invested in startups according to the Block.

This is a 68% drop in funding from the previous year.

In this environment, crypto teams need a way to not only raise awareness of their projects

But they also need to convert this community into revenue and funding to execute the roadmap

Thus, Fjord Foundry is putting these projects in a position to drive capital and acquire community in the early stages.

Fjord Foundry equalizes opportunities for both builders and early crypto adopters.

Ultimately, Fjord Foundry guarantees permissionless access to pioneering projects and tokens.

Liquidity bootstrapping pools (LBP) offer crypto projects the opportunity to galvanize their communities to drive the first steps of their journeys.

By doing this, builders can focus on the most important priority, which is to execute the visions.

Founders Are Empowered With Another Capital Option

As mentioned in Web3 Fundraising - Like Finding Water in a Desert it is an investors market.

What does this mean?

Investors have more leverage to offer terms that are more favorable for them.

It is why Roman Giler, founder of Savvy DeFi, explored options outside of venture capital.

Ultimately, Savvy DeFi chose to work with Fjord Foundry to develop a community and drive capital.

Other options include launching initial coin offerings or similar vehicles.

But those have challenges about regulation in addition to a stigma.

Thus, many founders have gone to VC for legitimacy and scale.

Other crypto projects have shared a similar sentiment with Roman.

Fjord Foundry has served over 500 communities.

These other communities include KoiPond, RSS3, and BreederDAO.

Collectively, these three projects have raised over 30 million dollars from the community.

In total, this platform has helped crypto projects raise over 700 million dollars.

Additionally, Fjord Foundry has helped early-stage crypto projects gather thousands of community members.

For example, KoiPond’s raise generated over 1000 participants.

With this type of community engagement, KoiPond and other projects have users who have invested in the project’s success

And will be able to have the power to help the core teams execute their visions.

Marco van den Heuvel, Co-Founder of Merit Circle says,

"We had a very smooth experience during the three days of our auction, using Balancer Protocol in combination with the Fjord Foundry UI. If we had to do it again, we’d definitely choose a Balancer LBP."

Thus, Fjord Foundry empowers early-stage teams to grow and scale over time.

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Fjord Foundry Evolution Shapes the Future of Crypto Funding and Community Building

Fjord Foundry has already evolved from its initial iteration.

In November of last year, Fjord Foundry launched its beta for version two (V2).

Launching V2 at this time is a smart move.

The broader crypto market is expected to trend positively and a bull market is on the horizon.

With this in mind, there will likely be an increase in token sales and broader crypto innovation.

Thus, with Fjord Foundry’s new user interface and track record,

Many builders will investigate using the platform to launch their communities.

With the demand crypto founders have for a multitude of funding options,

Fjord Foundry has to qualify projects that have the potential to be successful.

Fjord Foundry has taken steps to bring quality projects on its platform through curation.

The platform formulated partnerships with external curators along with curating independently.

External project curators include Reptile Presidente, CoinTelegraph Research, and Code4Rena.

With this level of curation, Fjord Foundry gives venture capitalists projects to track over time.

Oftentimes, VCs pass on projects because they are too early,

But Fjord Foundry could serve as an excellent source of deal flow for the venture community, early adopters, and investors.

Thus, in the future, Fjord Foundry may want to form partnerships with venture capital firms.

Additionally, Fjord Foundry should begin to expand its product set.

The platform can formulate partnerships with centralized and decentralized exchanges (DEXs).

Partnerships would help the projects that do LBPs on Fjord Foundry directly on these platforms.

Thus, Fjord Foundry could support the projects past the initial capital and community.

Strategic Moves Catalyze Growth for Early-Stage Crypto Projects

Fjord Foundry offers benefits for early-stage crypto teams.

In a time where raising funds is challenging and terms are more investor-friendly,

Core teams of crypto projects should explore Fjord Foundry as a way to gain early-stage capital.

This is an option to help crypto founders gain the initial capital to jumpstart their roadmaps.

Comparably, users have the opportunity to participate in LBPs in industry-shaping projects

By participating in these LBPs, participants have the opportunity to earn a return on their token purchases.

With the expected increase in the crypto market, Fjord Foundry can be a source of deals

Fjord Foundry has the opportunity to formulate partnerships to accelerate roadmap execution.

By partnering with organizations that can provide growth-stage capital

And developing relationships with exchanges, decentralized or centralized, will be able to help builders focus more on their visions.

Lastly, Fjord Foundry should consider launching a token.

The platform has a lot of early-stage projects using it with high potential.

With this in mind, it could sell tokens that correlate to the growth of the projects that have been raised on its platform.

This could drive token buyers with an option to mitigate risk but still receive upside.

Fjord Foundry has the opportunity to make a significant impact on the broader crypto industry.

It will be interesting to see which current or future LBPs on their platform become lucrative.

CryptoJeter is your passage to discovering insights within transformative startups and essential topics in the crypto industry.

Blockchain technology will disrupt life’s normalities like finance, social media, and art. If you are curious about how crypto will impact your world, be sure to subscribe.

Feel free to reach out:

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Topics Covered

1. Intertwined growth trajectories of the crypto and cannabis industries

2. Difficulties in acquiring financial services for cannabis businesses

3. Enhancing product trust with blockchain technology

4. Leveraging blockchain technology to create new customer experiences

Quick Notes✍️

Both cannabis and crypto industries are expanding quickly and facing regulatory challenges in the U.S.

With this in mind, the industries that are emerging but show much promise have the opportunity to build together.

The cannabis sector in particular is also primed for massive growth, just like crypto.

Thus, it should be beneficial for owners in the cannabis space to leverage blockchain technologies.

Cryptocurrencies are not only a way to reduce operational friction and enhance user experiences in the cannabis industry.

But they present opportunities for secure capital, community incentives, and maintaining product quality.

This benefits cannabis brands in a multitude of ways.

The potential for unique brand engagements is enabled which creates customer loyalty.

Trustless capital acquisition enables necessary capital to scale while not being solely reliant on cash payments.

Thus, cannabis companies can explore this route instead of being handcuffed by traditional means.

If adopted, this is revolutionary use for business owners in the cannabis industry.

Full Analysis📝

Unlikely Allies Fueling a High-Growth Future Economy

One of the most interesting things that CryptoJeter has been following is real-world use cases.

The crypto and cannabis industries are two of the fastest-growing economic spaces.

They are both fighting regulatory issues, which makes it very difficult to operate in the US.

While they may seem like an unlikely pairing,

Crypto and cannabis have a future for the economy together.

The cannabis industry in particular is expected to have rapid growth.

In 2021, the sector reported $25 billion in sales and 428,000 jobs supported.

Additionally, by 2028, specialists predict this industry to reach $102.90 billion.

For cannabis business owners and users, crypto may be a solution to not only reduce friction,

But also create amazing user experiences that cater to a budding audience.

Embracing crypto technologies presents an opportunity for cannabis companies to establish safe capital, incentivize communities, and ensure high product quality.

US Cannabis Businesses Face Payment Challenges and Regulatory Hurdles

Managing payments for US cannabis businesses is challenging.

US cannabis businesses struggle to acquire financial services because of regulations.

Earlier this year, Mastercard advised payment processors to not accept debit payments.

The hesitancy of financial institutions to service cannabis brands drives industry cash reliance.

Thus, it’s difficult for cannabis brands to acquire capital that could scale the business.

Cannabis entrepreneurs looking for capital generally need to look in the private markets. 

But, these types of transactions may involve giving up equity in businesses.

Decentralized Finance (DeFi) presents the opportunity to these businesses to receive loans. 

By embracing this type of technology, cannabis companies can not only acquire the capital needed to scale 

But also receive it in a trustless environment without intermediaries. 

Thus, cannabis businesses educate themselves on these options for fundraising. 

CryptoJeter caught up with Xavier Spencer, a cannabis industry consultant and operator about this. 

He said, 

“In my experience, the concept of raising capital through cryptocurrency in the Cannabis industry is not a common route to go. Usually, we see more traditional funding products through private capital. As a huge proponent of decentralized finance, I would love to see this route become more common.  As the technology is still new, many start-ups focused on cannabis/blockchain have struggled to scale among operators. I think this could potentially be attributed to the continuous headwinds cannabis operators face in the pursuit of being cash flow positive and operators focusing their efforts on doubling down on operations rather than investing in new technology.” 

It seems like Xavier has conviction in streamlining the funding process to scale cannabis businesses through DeFi. 

From a product quality standpoint, traceability ensures that products are consistent.

Additionally, many states require cannabis track and trace systems. 

These systems are mandatory for cannabis brands to fulfill their compliance requirements. 

One track and trace system that most states require vendors to use is METRC. 

But a blockchain solution may be better for cannabis companies long term.

Thus, cannabis companies have to ensure they use the right tools to comply. 

As far as rewards programs go, certain dispensaries are not only offering discounted products

But also free merchandise. 

However, what’s important is that the rewards programs that have frictionless sign-ups. 

Thus, loyalty programs that are conducted well drive customer retention and appreciation.

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Smart Contracts Enhance Product Trust, Streamline Compliance, and Seamlessly Connect Brands with Consumers

Smart contracts automate workflow and verification processes.

This is enabled by verifying the entire supply chain of cannabis products on-chain. 

By leveraging blockchain technology, customers can see the quality of the product.

Customer ability to understand the product they are getting builds consumer trust

Thus, it is a tool to build loyalty with consumers and build credibility in a market with a stigma. 

Cannabis brands also need to develop trust with regulators.

By implementing blockchain technology, compliance rules can be automated in smart contracts.

The cannabis industry struggles with varying regulations across jurisdictions.

Thus, smart contracts will allow cannabis brands to easily address these regulatory discrepancies. 

Additionally, cannabis brands will also leverage web3 to create loyalty rewards programs.

In Polygon - Shaping the Future of Web3, we dove into brands like Starbucks merging into web3 for these types of experiences. 

Like Starbucks, cannabis brands have communities. 

But these communities are unique as they represent a culture.

Thus, Cannabis brands’ unique audience can be enriched through new experiences. 

Cannabis consumers can benefit from tokenization and NFTs which bring them rewards. 

But brands benefit from this as they can gain individualized consumer insights. 

Thus, consumers and cannabis brands are better linked in the purchase journey.

Builders are Focusing on Smart Contracts for Authenticity and Community Assembly

With regard to product trust, we are starting to see the use of smart contracts for authenticity. 

Mendocino Clone Company, Global Compliance, and the EMTRI project are three companies leveraging this technology.

These entities are leveraging smart contracts to not only authenticate cannabis plants, 

But streamline the supply chain and ensure product authenticity.

That isn’t all.

Cultivators who purchase Mendocino clones gain EMT tokens which can be traded on Uniswap. 

Holders of these tokens gain better rates and rewards for participating in the project. 

Being an early adopter of the technology sets the precedent for business model innovation. 

Regarding community assembly, there was a pro-cannabis period during the NFT boom. 

One of the many projects targeting the cannabis community was the Crypto Cannabis Club.

Crypto Cannabis Club released 10,000 NFTs which gave holders real-world utility.

The brand has already done metaverse activations and secured partnerships with premium cannabis companies. 

While the NFT had a moment, it is hard to say where the project’s future lies. 

It will be important for future NFT projects to provide branded products. 

An example that is working well outside of the cannabis space is Pudgy Penguins.

While plush toys may not be the play for cannabis brands, it may make sense to connect physical and digital worlds.

Thus, cannabis brands have an opportunity to create products that drive community in the metaverse.

Blockchain Empowers Cannabis Brands with Enhanced Customer Engagement, Financial Innovation, and Market Expansion.

Cannabis brand owners should consider exploring how crypto can benefit their businesses. 

Using blockchain technologies presents an opportunity to be closer to customers. 

Customers will trust cannabis brands more due to the level of transparency blockchain provides. 

With brands authenticating their products, customer loyalty could improve. 

This ultimately can expand market share and drive community. 

Once brands have generated trust and community, cannabis brand owners can innovate new experiences. 

Creating member-only events with NFTs or driving commerce with tokenized loyalty points can boost community engagement.

Additionally, they can serve as strong marketing material as they offer consumers value. 

Cannabis brand owners also need to understand the world of DeFi.

DeFi has the opportunity to provide cannabis businesses the capital to scale the business.

Being able to acquire capital quickly and transparently can be a major advantage in the current regulatory environment. 

Additionally, leveraging DeFi lending enables non-dilutive capital for businesses.

Moreover, cannabis businesses should consider taking crypto for payments.

Many cannabis businesses are cash reliant without proper financial services.

Thus, dispensaries become targets of crime and there is mass financial risk. 

For example, cash is sitting in a safe, the money is not combating inflation.

However, without access to financial services, it is a challenge to combat these financial challenges. 

Cryptocurrency payments can be more safe for cannabis businesses to custody their profits.

Additionally, taking stablecoins or other cryptocurrencies allows businesses to earn yield. 

Yield enables businesses to grow their cash flow and make investments that scale the business.

But it is important to properly manage risk, and have the right financial advisors to optimize this option.

Ultimately, these businesses can incentivize buyers with rewards to pay in crypto. 

There are many applications in the cannabis arena that blockchain can contribute to.

The cannabis industry builders should look to integrate this technology to scale and fight the current challenges of the industry.