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5 funds of Pantera Capital are listed with track feature projects

2022-04-08 13:00

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原文标题：《 Pantera Capital 推出 2 亿美元新基金旨在布局 Web3 细分赛道》

Original author: Call a cat; Editor: Doge

This article is from wechat official account:Old yuppie

On April 6, crypto firm Pantera Capital is launching a new Fund, Pantera Select Fund, which plans to raise $200 million in early May. Pantera said the Select Fund is smaller, more focused and therefore more focused than a typical growth Fund.

Pantera Capital was founded in 2003 by former Tiger Management Head of Macro Trading and CFO Dan Morehead. Pantera's global macro strategy has invested over $1 billion in institutional allocations, and the Pantera Bitcoin Fund is up 57,500 percent since inception, Pantera Venture Funds earned $125 million of its $23 million invested capital in 26 companies. Its investment projects cover blockchain infrastructure projects, financial projects, enterprise projects, Web3 applications and other aspects, including well-known ones such as FTX, Terra, BitDAO, Celer, Ankr, Cosmos, etc. Less well known examples include Deso, Alchemy, Lithium Finance (see today's article Lithium Finance: Providing predictive services for Real-world Assets).

The following article will make an inventory of the 5 funds it has created and the featured projects of the track layout.

Existing funds

Pantera Capital currently has five funds, Pantera Blockchain Fund, Pantera Liquid Token Fund, Pantera Early-stage Token Fund, Pantera Bitcoin Fund, Pantera Blockchain Fund Venture. Pantera Capital is launching a new Fund called Pantera Select Fund, which it plans to raise $200 million in early May. Designed to help its limited partners gain exposure to three locked growth deals and seven to nine other deals over the next year.

Pantera Blockchain Fund was founded in June 2021 with a minimum investment of $1 million and a target of $600 million, offering investments in all aspects of the cryptocurrency and Blockchain markets. The venture capital fund will invest in venture equity, early stage tokens and liquid tokens.

The Pantera Liquid Token Fund was created in November 2017 with a minimum investment of $100,000. It is a multi-strategy vehicle that typically invests 15-25 liquid tokens at any one point in time. The fund is largely driven by a carte Blanche strategy focused on decentralized finance and related assets. The rest of the fund uses a quantitative strategy and trades hourly.

The Pantera Early-Stage Token Fund was created in July 2017 with a minimum restaurant amount of $250,000. The Pantera Early Token Fund is a discretionary vehicle that provides us and non-US investors with exposure to early tokens with liquid maturities of 1-3 years. The fund invests in teams building new protocols in the blockchain ecosystem and follows an early venture capital model.

Pantera Bitcoin Fund was launched in July 2013 with a minimum investment of $100,000. The Pantera Bitcoin Fund is a passive tracker for Bitcoin. The fund provides fast and secure access to Bitcoin while eliminating the burden of buying and keeping coins. The Pantera Bitcoin Fund offers investors daily liquidity and a low fee structure. The fund is formally structured as a Cayman hedge fund and is available to BOTH US and non-US investors. Pantera, the first U.S. bitcoin fund, is up 57,500% in eight years.

Pantera Venture Fund provides investors with actively managed, multi-stage investment opportunities that expose them to companies building products and services in the nascent blockchain ecosystem. In 2013, Pantera launched the first exclusive blockchain venture fund, focusing primarily on companies that enable investors to buy, store and speculate on bitcoin. Then in 2014, a second venture fund focused on cross-border payments, regional exchanges and developer tools was raised. In 2018, Pantera successfully raised $175 million for its third fund, which focuses on companies that institutionalize digital assets into asset classes. Venture funds primarily invest in private equity for early-stage companies and focus on building blockchain capabilities across various industries and business functions.

Infrastructure projects

Alchemy Provides support for some of the top Web3 applications on Ethereum, Polygon, Optimism, Arbitrum and Flow. Alchemy's core product is designed to take the pain out of self-managed nodes while providing world-class developer tools. These include Alchemy Supernode (an infrastructure engine that replaces typical self-hosted blockchain nodes), Alchemy Build (a suite of developer tools that helps users reduce debugging time), Alchemy Monitor (a monitoring tool, Provide users with the data they need to understand application health and growth), Alchemy Notify (timely notification of the most important Web3 events).

OpeanSea CTO Alex Atalla has stated that "Using your own nodes or error-prone services means wasting hundreds of valuable engineering hours on issues that have nothing to do with your company. Nothing beats Alchemy's incredible level of reliability, speed and support."

Alchemy's blockchain development platform has supported millions of users in 197 countries around the world and its mission is to provide developers with the basic building blocks needed to create the future of technology.

The Livepeer project aims to provide a fully decentralized, highly scalable, crypto-token-motivated real-time video streaming network protocol and produce a solution that can serve as a real-time media layer in a decentralized development (Web3) stack. In addition, Livepeer aims to provide an economical and efficient alternative to centralized broadcasting solutions for any existing broadcaster. In this document, the Livepeer protocol is a delegated equity based protocol used to motivate participants in a live video network in a game theory safe manner. The project attempts to game token allocation in an inflation system, proposes scalable validation solutions for decentralizing work, and solutions for preventing useless work.

Livepeer token (LPT) is the protocol token of Livepeer network. But it's not a medium for exchanging tokens. Broadcasters use Ethereum's Ether (ETH) currency to broadcast video over the network. Nodes that contribute processing and bandwidth receive ETH for a fee from the broadcaster. LPT is a pledge token that participants wishing to perform work on the network can pledge to coordinate the way work is assigned on the network and provide security to ensure that work can be done honestly and correctly. LPT has the following uses:

- It acts as a binding mechanism in a delegated proof-of-interest system, where the rights are delegated to the participating protocol code-converters (or verifiers) to transcode the video and verify the work. Tokens and potential cuts due to protocol violations are necessary to protect the network from many attacks.

- It works through the network based on the number of pledged and entrusted tokens, essentially a coordination mechanism.

- It is a unit of account unique to the Livepeer ecosystem and forms the basis of the SectorCoin concept for additional features to be introduced in the future. Services such as DVR, hidden captioning, AD insertion/monetization, and analytics can be plugged into the Livepeer ecosystem and potentially take advantage of the security offered by pledge LPT.

Financial projects

BitDAO is a DAO with billions of existing assets and billions of projected contributions designed to support the builders of a decentralized economy. It is an open platform for proposals to be voted on by holders of BIT tokens, independent of the chain and project.

Possible suggestions include:

- Direct collaboration or interchange with projects, as well as expansion through specialized autonomous entities, such as: ecosystem funds, artists' unions, agricultural cooperatives, R&D laboratories, etc.

BitDAO is supported by Peter Thiel, Founders Fund, Pantera, Dragonfly, Spartan, Bybit, and more. It's not a company. It has no management team or staff. BitDAO is a collection of builders and stakeholders who own BIT tokens and are motivated to make the project successful. Anyone can propose partnerships and protocol upgrades for BitDAO. BIT token holders will vote on whether to approve or reject the proposals. Holding a BIT gives the holder the right to submit a proposal and vote on it. It does not give holders the right to impose their will on other contributors. A partnership or BIT use case sponsored by someone else does not require a governance proposal (such as a hackathon or educational event).

0x Is an open source, decentralized exchange infrastructure that can transfer coinized assets across multiple blockchains. The protocol serves as an open standard and common building block for any developer who needs to exchange functionality. In addition to externally audited smart contracts, 0X also offers developer tools tailored to the ecosystem and open access to shared liquidity pools. The figure above shows an overview of the 0X ecosystem, which includes applications that provide liquidity (supply), applications that consume liquidity (demand), and multiple supported blockchains.

Makers and Takers are two aspects of the 0X ecosystem. This is the entity that creates 0X orders and provides liquidity to the system for demand side consumption. Makers is an entity that wants maker assets. Takers agrees to trade their assets for Maker's assets; In other words, they used up 0x of liquidity. In addition to Makers and Takers, there is the 0X Community DAO, a collective governance organization for the 0X protocol and ZRX tokens.

Web3 application

DeSo Is a new type of social network that builds a custom blockchain from scratch that allows users to leverage their influence and monetize their content. Its architecture is similar to bitcoin, but with greater scale and throughput, it can better support the complex data of social media, such as posts, user profiles, followers, speculation and prediction functions. And like Bitcoin, DeSo is a completely open source project, with no company behind it, just tokens and code.

The DeSo blockchain has its own native token, called DeSo, which users can use to do a variety of things on the platform, including buying a new type of asset called a "creator token" as described below.

Anyone can buy DeSo in a few minutes with Bitcoin via a decentralized "atomic exchange" in the built-in program. For details, please refer to the "Buy DeSo" page on its official website. DeSo has a supply cap of about 10.8 million, about half that of Bitcoin, making it naturally scarce. The coin of creation is a social token that can be used as a personal asset, the first instrument that can be used as an asset. Specific uses include:

- Comment on its posts (reduce spam and improve communication efficiency)

- Sending messages/mails within the station (filtering spam and giving priority to the information of the currency holder)

- Retweet using token

- Subscribe to premium content

- Distribution and participation (e.g. Musk gives away 100 Teslas for free to his first 100 coin holders, increasing market demand for tokens)

- Use tokens to reward high-quality content

(The specific content of the project can be seen in the article "Can DeSo's decentralized social media blockchain Save the Internet?" published on The official account of Lao Yuppie on January 14, 22. )

conclusion

With the development of the crypto world, cryptocurrency has been applied in more scenarios, more platforms have begun to support cryptocurrency payment, and wealth institutions such as Goldman Sachs and Morgan Stanley have also invested in cryptocurrency. Many institutional investors, such as endowments and pension funds, have begun to consider allocating bitcoin and cryptocurrency. As the traditional financial industry learns more about crypto, more investors will enter the space, and Pantera Capital, as one of the pioneers, has certainly been successful (given its track record so far). From the perspective of the funds it creates and the projects and layout it invests in, it has great interest in the future market, especially in infrastructure projects, fixed interest lending projects and insurance projects.

In particular, our article is not as investment advice, please think independently, or the same sentence: investment should be cautious, no one trust.