Inventory of 16 Israeli concept coins, with infrastructure and DeFi becoming the main force.

2023-10-11 11:31

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This article covers various fields such as Layer2, DeFi, Layer1, NFT, and gaming, with StarkWare valued as high as $8 billion.

Original title: "Inventory of 16 Israeli concept coins worth paying attention to, infrastructure and DeFi are the main force"

Original source: PANews

After the outbreak of large-scale conflicts between Palestine and Israel, many Web3 projects headquartered in Israel have attracted industry attention, and related concept tokens have also seen consecutive increases. As a recognized technology powerhouse in the world, Israel, although a small country, has become a force to be reckoned with in the field of encryption technology. This article from PANews will take stock of the Israeli Web3 projects that have issued tokens, covering many fields such as Layer2, DeFi, Layer1, NFT, and games, among which StarkWare has a valuation of up to 8 billion US dollars.

Infrastructure

Layer2 developer StarkWare (STARK, not yet launched)

StarkWare, an Ethereum Layer2 developer based in Netanya, Israel, was co-founded in 2018 by Professor Eli Ben-Sasson from the Israel Institute of Technology. It provides STARK-based zero-knowledge proof technology to improve the scalability, security, and privacy of blockchain. StarkWare has developed two STARK-based Ethereum scaling solutions: StarkEx and StarkNet.

In September of this year, StarkWare announced the StarkNet token economic model. The maximum supply of STRK is 10 billion, with 7% allocated to investors, 32.9% allocated to core contributors, and 50.1% donated to the foundation by StarkWare. Of these, 8.1% of the tokens have not yet been allocated and their specific use will be determined by the community. According to the latest news, STRK may experience its first unlock on November 29th. After a new round of large-scale conflict broke out between Palestine and Israel, community members inquired about the safety of the project and the possibility of token airdrops.

So far, StarkWare has raised a total of $273 million in 7 rounds of financing, with a valuation of $8 billion. In January 2018, StarkWare completed a $6 million seed round of financing, with participation from Ethereum founder Vitalik Buterin, Pantera Capital, Paradigm, and Naval Ravikant; in July of the same year, StarkWare received a $12 million grant from the Ethereum Foundation; in October of the same year, StarkWare completed a $30 million Series A financing round with participation from Intel and Sequoia Capital; in March 2021, StarkWare completed a $75 million Series B financing round led by Paradigm, and in November of the same year, completed a $50 million Series C financing round led by Sequoia Capital, with other investors including Paradigm, Alameda Research, and Three Arrows Capital; in May 2022, StarkWare completed a $100 million Series D financing round led by Greenoaks Capital and Coatue, with participation from Tiger Global and others.

Blockchain IaaS platform Orbs (ORBS)

Current circulating market value: 81.946 million US dollars.

Orbs is an Israeli blockchain IaaS platform that provides infrastructure for large-scale applications. The product is positioned as an "independent execution layer between Layer 1/Layer 2 solutions and the application layer," dedicated to building a decentralized public platform and helping the software application industry achieve blockchain technology transformation.

Orbs' President, Daniel Peled, is the co-founder and CEO of PayKey, an Israeli fintech startup. He is also a senior member of the Israeli Bitcoin community. Uriel Peled, a partner at Orbs, was the former head of Mellanox, an Israeli high-tech company. Visualead, a VR startup founded by Uriel Peled, was acquired by Alibaba. In May 2018, Orbs announced a $118 million funding round with participation from 21M Capital, Kakao Ventures, Nexus One, and others. In March of this year, Orbs announced plans to raise $10 million from venture capital firm DWF Labs.

Encryption payment infrastructure Fuse (FUSE)

Current circulating market value: 919.2 million US dollars.

Fuse is a mobile-centric encrypted payment infrastructure based on Ethereum that provides fast and powerful plug-and-play at low cost, and also provides a platform for stablecoin issuance and management. To address the scalability issues of public chains, Fuse Network has launched the Flutter Layer 2 Payments (FL2P) extension solution, which is also an SDK that supports developers to directly integrate ZK rollups into mobile encrypted wallet software. As of October 10th, the Fuse official website shows that it has completed over 128 million transactions and has over 100 ecological partners. In addition, Fuse CEO Mark Smargon has founded Israel's first Bitcoin exchange.

In May 2022, Fuse completed a $5 million financing round with investors including Aleph, Black Edge Capital, Blockchain Founders Fund, Collider Ventures, and Tectona Digital Assets.

DApp application platform ChromaWay (CHR)

Current circulation: 51.842 million US dollars.

Chromia is an innovative cross-functional platform based on blockchain created by the Swedish company Chromaway. It provides an easy-to-use environment for developers to build decentralized applications (dApps) that are easy to scale. The team is distributed across Israel, Sweden, and Ukraine. In January 2022, ChromaWay announced a $10 million funding round with participation from CSP DAO, GEM Capital, Insignius Capital, and MiH Ventures.

Layer1

Privacy public chain Secret Network (SCRT)

Current circulating market value: 53.751 million US dollars.

Secret Network is a privacy-protecting smart contract public chain built on the Cosmos technology architecture. It is also the first blockchain with privacy-protecting smart contracts and originated from a project called Enigma at the Massachusetts Institute of Technology.

In 2017, Secret Network raised $45 million through IC0; in 2021, Secret Network completed a $11.5 million seed round led by Arrington Capital and Blocktower Capital; in early 2022, Secret Network announced $400 million in ecosystem funding, with investors including DeFiance Capital, Alameda Research, CoinFund, and HashKey.

Spacemesh (SMH), a consensus protocol public chain in the space-time domain (not yet online)

Spacemesh, headquartered in Israel, is a fair and distributed Blockmesh operating system supported by a unique space-time consensus protocol, aiming to achieve a highly decentralized, high-throughput, and high-security blockchain network. In July 2023, Spacemesh announced that its mainnet had gone live and anyone with a standard consumer-grade PC can mine and earn Smesh coin. It should be noted that Spacemesh has not yet been listed on mainstream exchanges.

In May 2018, Spacemesh announced that it had raised $3 million in seed funding from investors including Iangels, Sinopac Bancorp, and BRM Capital. In September of the same year, Spacemesh completed a $15 million Series A funding round led by Polychain, with participation from MetaStable, Paradigm, Coinbase Ventures, Bain Capital, and 1kx. In December 2021, Spacemesh raised another $4 million in new funding, with investors including Leland Ventures.

Privacy project Beam (BEAM)

Current circulating market value: 372.3 million US dollars.

Beam is a privacy coin project developed based on the MimbleWimble protocol. Unlike Monero, Zcash, and others, MimbleWimble coins enforce privacy at the protocol level rather than adding layers on top of the original blockchain to achieve privacy.

In February 2019, Beam completed a $5 million financing from Recruit Strategic Partners. In May 2021, Beam completed a $2 million financing with participation from Collider Ventures, Altonomy, LionsChain, and Alternity Capital.

DeFi

DEX Bancor (BNT)

The current circulating market value is 76.267 million US dollars.

Bancor was launched by Bprotocol Foundation in 2017. The foundation was founded by a group of Israelis with Silicon Valley entrepreneurial backgrounds and is headquartered in Zug, Switzerland, with a research and development center operating in Tel Aviv, Israel. In June 2017, Bancor raised $153 million worth of ETH through an ICO.

Bancor is a DEX based on Ethereum, allowing for the creation of liquidity pools to trade assets, consisting of smart contracts that execute algorithmic token trading and on-chain liquidity pooling. Bancor was also the first project to adopt AMM, but due to centralization and security issues, it was surpassed by later projects such as Uniswap. According to DefiLlama data, as of October 10th, Bancor's total locked value (TVL) is approximately $68.6 million, a decrease of about 97.2% from its peak of $2.4 billion.

On-chain service tool Dot Finance (PINK, not yet launched)

Dot Finance was originally a decentralized finance (DeFi) protocol based on BSC. In January 2022, it announced its migration to the Polkadot parallel chain Moonbeam, which provides users with access to a wide range of smart contract services built on the fast, secure, and flexible Polkadot platform, including various on-chain services. PINk has not yet been listed on mainstream exchanges.

流动性协议 B.Protocol (BPRO)

Liquidity Protocol B.Protocol (BPRO)

Current circulating market value: 302.7 million US dollars.

B.Protocol is a liquidity support protocol designed to better handle liquidation on DeFi lending platforms, allowing the DeFi ecosystem to expand safely and stably to the level of CeFi. Its creator, Yaron Velner, was formerly the CTO of Kyber Network and co-designer of the WBTC protocol.

In December 2021, B.Protocol announced the completion of a $2.2 million seed round led by 1kx, with follow-on investments from Robot Ventures, Spartan Group, Primitive Ventures, and Angel DAO.

DeFi platform Voltage Finance (VOLT)

Current circulating market value: 30.7 thousand US dollars.

Voltage Finance is a decentralized finance platform based on the Fuse network, established in 2019. The platform launched Voltage DAO and Volt (VOLT) governance tokens. In February 2022, Voltage Finance completed a $3.4 million financing round, with investors including Spark Capital, TRGC, Collider Ventures, GBV Capital, and Tectona. However, one month later, Voltage Finance was hacked, resulting in the theft of approximately $4 million.

Other

Web3 Education Platform Open Campus (EDU)

Current circulating market value: 77.142 million US dollars.

Open Campus is the Web3 version of the education platform TinyTap. The latter is a technology startup based in Tel Aviv, Israel, that focuses on user-generated content (UGC). It was acquired by Animoca Brands, a venture capital firm, in June 2022.

Open Campus is a Web3 education protocol platform that combines blockchain technology. It aims to create a more fair and inclusive ecosystem for learners, educators, content creators, and others, providing them with more ways to access resources, new compensation opportunities, and true ownership of educational content. It seeks to shape a new educational paradigm defined by the community. Open Campus is the 31st Launchpad project of Binance and raised $6 million in a private token sale in 2022.

Encryption Exchange INX Limited (INX)

The current circulation is 62.20 million US dollars.

INX Limited is an Israeli private company registered in Gibraltar, established in 2017. In 2019, INX Limited plans to raise $129.5 million through an IPO, which is the first security token offering registered with the United States Securities and Exchange Commission (SEC).

P2E Game Kryptomon (KMON)

Current circulating market value: 540.2 million US dollars.

Kryptomon is a P2E game that combines NFTs. Inspired by classic games such as Pokemon and Tamagotchi, players can search for and mint NFTs onto the blockchain through the "Full Moon Treasure Hunt" game in the real world. Kryptomon has set two sales records for NFT blind boxes on the Binance platform and achieved a chain NFT transaction volume of $13 million within 5 months.

In August 2021, Kryptomon raised approximately $1.2 million through IC0. In May 2022, Kryptomon announced the completion of a $10 million financing round led by NFX, with other investors including PLAYSTUDIOS, Griffin Gaming Partners, Tal Ventures, and former CEO of Citigroup, Vikram Pandit.

Founded in 2021, NFTrade is headquartered in Tel Aviv, Israel and is a decentralized cross-chain NFT platform that allows anyone to easily and seamlessly create, buy, sell, trade, and earn NFTs, creating a one-stop shop for all NFT-based operations.

In February 2021, Magic Square completed a $1 million Pre-Seed financing. In July 2022, Magic Square completed a $3 million seed round led by Binance Labs and Republic, with participation from KuCoin Labs, GSR, IQ Protocol, Gravity Ventures, and Alpha Grep. In September of the same year, Magic Square completed a $1 million financing at a valuation of $74 million.