Blockchain Is Going Mainstream
Blockchain Is Going Mainstream
Big organisations are funnelling money into blockchain, ENS is growing at breakneck speed, fun reads coming up
Hi there! 👋Â
Welcome to the mesha tribe: a weekly newsletter by mesha that brings you the latest updates on funding, DAO news and governance to help you take your project #ToTheMoon🚀
In this edition, we discuss:
Weekly treasury changes of top DAOs
What’s happening with web3 deals
News you should know
Good reads
Updates from mesha
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DAO Treasuries by AUM
A Week of 💰💰💰Â
Koibanx Infused with $22M to Expand Infra
Latin American asset tokenization firm, Koibanx, raised $22M in a Series A funding, led by Algorand Inc. Borderless Capital, Kalonia Venture Partners, and Innogen Capital are among other participants. Koibanx will use the funds to expand infrastructure and build payment rails in Central America.
.bit Gets $13M One Year After Launch
.bit, the self-sovereign open-source data container, has raised $13M in funding from CMB International, HashKey Capital, QingSong Fund, among others, to build a cross-chain decentralized identity protocol.
SafeHeron Raises $7MÂ + Partners With Metamask
The self-custody solution for web3 small and medium enterprises, SafeHeron, has received $7M in funding, co-led by Yunqi Partners and hybrid venture and Web3Vision. Cryptocurrency wallet MetaMask and Safeheron are partnering, with the former using SafeHeron’s MPC technology to provide multi-factor authentication.
dWallet Labs Bags $5M Funding to Bolster Odsy Network
Blockchain security firm dWallet Labs that is building projects for the layer 1 blockchain Odsy Network got $5M in pre-seed funding. Node Capital and Digital Currency Group, the parent of CoinDesk, co-led the round.
📰Latest From Web3📰
It’s Raining 💸💸 For Blockchain Companies
If you’re wondering about blockchain’s future, here’s a stat to assuage your doubts – 40 big organizations pumped $6 billion into blockchain companies between September 2021 and June 2022, according to a study from Blockdata.
Mobile phone manufacturer Samsung made the biggest bets, investing in 13 companies. Alphabet, Google’s parent organization, stuck its neck out in four funding rounds worth $1.5 billion in blockchain and crypto companies. The world’s biggest asset manager, Blackrock, makes the list too.
The venture capital world is also backing web3 with its own investments. Last week, we told you about how CoinSwitch launched a new fund for web3 startups. This week, CoinFund and Shima Capital have announced investment funds worth $500M in the space.
Why does it matter? Despite a bear run, investment in blockchain and crypto shows that widespread adoption for web3 is slowly but surely taking off. Tech and TradFi companies investing in the space are proof that blockchain is more than just a fad.
  Ethereum Name Creation Grows 2X
The Merge is just around the corner. With the growing hype of Ethereum’s switch to Proof-of-Stake, it’s adoption is also growing. Proof? Ethereum Name Service (ENS) addresses have doubled in the last four months.
According to reports, ENS addresses surged to over 2 million. ENS provides .eth domains to link to wallets and even sell NFTs. ENS rival Unstoppable Domains is also growing, having reached a valuation of $1 billion.
The Takeaway: This shows a growing community of Ethereum users. Organic growth in the community is good news for web3 developers on the Ethereum ecosystem as they will have more users to target for their products.
HUSD Stablecoin Stablizes After Losing Peg
Last week, the HUSD stablecoin, issued by Stable Universal, lost its peg and fell below $1 to as low as $0.84. However, it regained its stability and returned to the $1 peg in a relief for the community.
HUSD’s value stumbled because of numerous account closures, according to a tweet from the company. Market maker accounts were among them. Huobi, the crypto exchange backing HUSD, jumped in to save the day, allowing users to freely convert their HUSD to other stablecoins such as USDT. Â
Stablecoin depegs are a sensitive issue after UST’s collapse this year. TerraUSD’s unravelling hit the crypto community hard as millions lost their money and trust in the stablecoin ecosystem.
📚Good Reads📚
·     Four Factors to Make a DAO Sticky
·     Can Web3 be hacked? Is the decentralized internet safer?
·     Meet the Sleuthing Firm Helping DeFi Projects Stay Compliant With Tornado Cash Sanctions
·     Crypto Winter Freezes Have Turned Investors Onto Hardware Wallets
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