18 pcs! Introduction to projects with tens of millions of financing and unissued coins in the Q1 quarter of 2024

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The first quarter of 2024 is almost over, and with the passage of a Bitcoin spot ETF, the crypto space is showing signs of strong growth. The bull market has boosted the rapid recovery of the investment and financing market. The following are potential projects that raised over 10 million US dollars in the first quarter.

1/ EigenLayer

Tag: Ethereum re-pledge market Introduction: EigenLayer is a protocol on Ethereum that introduces the concept of re-pledge, allowing users to re-pledge their $ETH in the consensus layer to enhance the security of the network and make it scalable to other applications. Q1 financing/round: US$100 million Total Series B financing: US$164.5 million URL: https://eigenlayer.xyz


Tags: Open Source Encryption Tools Introduction: Zama is a cryptography company that develops open source homomorphic encryption tools. Its homomorphic encryption technology allows data to be processed without the need for decryption, used to create private smart contracts on public blockchains where only authorized users can view transactions and status Q1 Funding/Round: $73M Total Series A Financing: US$73 million URL: https://zama.ai

3/ Berachain

Tags: DeFi-focused EVM-compatible L1 Introduction: Berachain is a DeFi-based EVM-compatible L1 built on the Cosmos SDK and powered by Liquidity Consensus Proof. Q1 funding/rounds: $69 million Total Series B funding: $111 million URL: https://berachain.com


Tags: Ethereum's first SVM L2 Introduction: Eclipse is a customizable rollup provider compatible with multiple first-tier blockchains, which allows developers to deploy autonomous rollups powered by the Solana operating system with the option of a chain For security or data storage. Q1 funding/rounds: $50 million Total Series A funding: $65 million URL: https://eclipse.xyz

5/ Succinct

Tags: ZK, Decentralized Prover Network Introduction: Succinct is developing a decentralized validator network to secure blockchain applications and infrastructure through encrypted facts rather than relying on trust. The platform simplifies the proof supply chain and provides efficient and reliable proof generation services for Rollup and other applications using zero-knowledge proofs. Q1 funding/rounds: $43 million Total Series A funding: $43 million URL: https://succinct.xyz


Tags: Modular AI Blockchain Introduction: 0G is a modular AI blockchain with a scalable programmable DA layer suitable for AI dapps. Its modular technology will enable frictionless interoperability between chains while ensuring security, eliminating fragmentation and maximizing connectivity to enable a weightless and open metaverse. Q1 Financing/Rounds: $35M Total Seed Round Financing: $35M URL: https://0g.ai

7/ io.net

Tags: Decentralized Computing Network Introduction: http://io.net is a decentralized computing network running on the Solana blockchain for developing and executing machine learning applications. It builds a massive distributed GPU cluster by aggregating underutilized GPU resources, such as those of independent data centers and cryptocurrency projects (such as Filecoin, Render). Such an architecture provides engineers with computing power that is accessible, customizable, cost-effective, and easy to use. Q1 funding/rounds: $30 million Total Series A funding: $30 million URL: https://io.net

8/ Espresso Systems

Tags: High-throughput EVM-compatible privacy blockchain Introduction: Espresso Systems is an EVM-compatible blockchain that supports Web 3 applications, providing scaling and privacy features. It combines PoS and zk Rollup technology to efficiently package transactions. The platform provides configurable privacy smart contracts that allow users to customize transaction privacy settings, including addresses and asset amounts, which can be set to be public, private, or visible to specific people. Q1 Financing: $28 million Total Series B Financing: $60 million URL: https://espressosys.com

9/ Avail

Tag: Modular blockchain developed by Polygon Introduction: Avail is a modular blockchain focused on improving data availability. It can efficiently sort and record transactions, allowing validators to verify data without downloading the entire block, achieving better scalability than traditional monolithic blockchains. Additionally, by leveraging Avail, independent chains are able to enhance data availability security for validators. Q1 Financing: $27M Total Seed Round Financing: $27M URL: https://availproject.org


Tags: Ethereum Interoperability Hub Introduction: Polymer is an interoperability hub for Ethereum that provides IBC execution for connected layer 2 without the need for native IBC integration, enabling new L2s to connect to the IBC network permissionlessly. Polymer enhances composability across Ethereum rollups while leveraging IBC’s ever-expanding application network. Q1 funding: $23 million, Series A total funding: $26.6 million URL: https://polymerlabs.org

11/ Morph

Tags: Optimistic zkEVM Scaling Solution Introduction: Morph is a completely permissionless EVM L2 that combines optimistic and zk rollup technologies for developers who need to build chains on top of financial, gaming, social media and entertainment applications. user-friendly options. Q1 Financing: US$20 million Total Seed Round Financing: US$20 million URL: https://morphl2.io


Tags: Cryptocurrency Exchange and Multi-Chain Wallet Introduction: Backpack is an advanced cryptocurrency exchange and multi-chain wallet that offers self-custody options and utilizes multi-party computing technology to keep funds safe. Q1 Funding: $17M Series A Total Funding: $37M URL: http://backpack.exchange


Tags: Ethereum equivalent ZK-Rollup Introduction: aiko is a decentralized Ethereum equivalent ZK-EVM and universal ZK-Rollup. The aim is to allow developers and users of dApps developed for Ethereum L1 to use them on Taiko without any changes. Therefore, dApps can be easily deployed to L2, inheriting the security of Ethereum while incurring lower transaction fees than L1. Q1 Financing: US$15 million Total Series A Financing: US$27 million URL: Taiko https://taiko.xyz

14/ Lava Network

Tag: Blockchain Data Market Introduction: Lava Network aims to create a blockchain data market that incentivizes node providers and decentralized application users to contribute data, and rewards node operators by using bandwidth to ensure data quality. Q1 Funding/Series: $15M Total Seed Round: $15M URL: https://lavanet.xyz


Tags: Delta on ETH Introduction: Ethena is a synthetic USD protocol built on Ethereum that will provide a crypto-native solution for currencies that do not rely on traditional banking system infrastructure, as well as a globally accessible USD-denominated Savings tool - "Internet Bonds". Q1 Funding/Round: $14M Strategic Financing Total Funding: $20.5M URL: https://ethena.fi

16/Reya Network

Tag: Modular L2 optimized for transaction scenarios Introduction: Reya Network is a modular L2 optimized for transaction scenarios, solving practical problems in DeFi expansion that cannot be solved through universal design. Q1 Financing: $10M Total Financing: $16M URL: https://reya.network

17/ Elixir

Tags: Modular DPoS Network Introduction: Elixir is a modular liquidity network that enables anyone to provide liquidity directly to the order book, bringing liquidity to long-tail crypto assets. The protocol serves as an important decentralized infrastructure that allows exchanges and protocols to easily direct liquidity on their ledgers. Q1 funding/rounds: $8 million Series B total funding: $16.6 million URL: https://elixir.xyz

18/ Drift Protocol

Tags: Modular DPoS Network Introduction: Drift Protocol is an open source, decentralized exchange based on the Solana blockchain that enables transparent and non-custodial trading of cryptocurrencies. Q1 funding/round: $23.5 million, total Series A funding: $23.5 million URL: https://zh.drift.trade/updates/drifts-series-a-announcement

Source of this article: Xiong Da mm @XiongDa_labs

Link: https://x.com/XiongDa_labs/status/1773612994389283125?s=20

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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