Given there is alpha in following the money, I figured it would be cool to give a breakdown of the recent top raises and if any opportunities to farm these protocols exist/what the money shows us.
Celestia: $100M raise in September led by Bain Capital. This raise likely took place a few months before September, but was only recently an
The post below has also been posted on Twitter by the Head of Delphi Labs Jose Macedo. You can read the thread on Twitter here: https://x.com/zemariamacedo/status/1839691280768696422?s=46
Tbh Initia is one of the rare teams I’d back without seeing a deck It helps I’m also bullish af on what they’re building. As @SmokeyTheBera put it: “Be
...
Paradex is a perpetuals exchanged built on a Starknet appchain optimized for truly open finance.
Backed by Jump and Dragonfly, they are well-positioned to dominate a weak perpetuals space on Starknet.
Through putting everything onchain while still providing a sleek experience, Paradex is effectively trying to create an onchain Binanc
...
Milkway is a hub for liquid staking & restaking. They are backed by a plethora of VCs including Polychain and Binance Labs.
They currently have one product live: liquid staking for Tia through the milkTIA wrapper. This was launched in December, 2023, and TVL is currently ~$23M.
Their restaking portal, which combines liquid staking w
...
always an interesting topic. we recorded a hivemind podcast yesterday in which a few of us discussed this in some good detail. not sure when it will be published, but we will send out the links when that happens (hopefully within the next day or so)
my thoughts on this are pretty simple and havent really changed too much since the start o
...Forgive me for the delayed publication of this week’s Market Musings as I’ve been recovering from the long journey back from Singapore. Given this opportunity, I would like to share a couple of my thoughts and takeaways from the Solana Breakpoint Conference and what I think it means as we move into Q4 and beyond. While you wait for the fu
...In A New Framework For Understanding Moats in Crypto Markets, I established a simple heuristic for assessing the defensibility of a crypto application:
If I fork this app, with $50M in token subsidies, can I steal and maintain market share?
If the answer is yes, it is likely a matter of time before an emerging fork or undifferentiated com
...
CTG is a crypto social experiment that has drawn comparisons to the Hunger Games and Survivor. In June they were acquired by Uniswap Labs in anticipation of S3, which has still not launched.
Based on the tweet frequency from the CTG official twitter in September, I expect CTG S3 to launch sometime in October/November.
Have you ever heard the story of the crypto product leader that gave out juicy incentives over a long period of time to cement their position? Neither have I — or anyone else, for that matter.
It’s true, tokens are a valuable tool in that they can be used to incentivize people to interact with a protocol. As a money market, you can juice
...Gunzilla Games now represents Delphi’s biggest gaming investment to date, as well as the largest angel cheque I’ve ever written. Having spent ~7000 hrs playing shooters throughout my life, and now over 60 hours in their flagship battle royale Off The Grid (OTG), I can confidently say this is one of the best gaming experiences I have ever
...
