Tag: DeFi

GBV and Taebit Partner to Take DEX to Next Level through Global DeFi Hackathon

DeFi

Decentralized Finance (DeFi) is taking the cryptocurrency world by storm and reinventing the world’s financial system. And now Genesis Block Ventures (GBV) is teaming up with Taebit, Korea’s leading DEX and DeFi platform, to bring a forward-thinking, innovative approach to the decentralized blockchain technology.

In the Global DeFi Hackathon organized by Taebit commencing on July 12, individuals and teams will compete to create solutions and build prototypes to improve existing problems in DeFi. Full-service investment company Genesis Block Ventures will judge the hackathon, empowering crypto enthusiasts and developers to tackle the problems in DEX with original solutions and improvements. 

 

The program pushes forward GBV’s vision to build the future through blockchain technology. Cryptocurrency and blockchain technology started developing its own versions of the financial system, tackling long-standing problems, and addressing inefficiencies. 

 

However, blockchain technology and applications such as DeFi and decentralized exchanges, or DEXes, are still in early stages of development; they are still far from perfect. With the hackathon, GBV welcomes a new generation that thinks differently about money, finance, and technology, to improve and innovate on this theme.

Taebit Global DeFi Hackathon: Innovation on DEX

Over the years, Genesis Block Ventures has invested in some of the most prominent blockchain startups, making sure that these projects achieve success through strategic partnerships and guidance. We have added to its portfolio many renowned projects, including Serum, Bonfida, AstroTools, Alkemi Network, Alpha Finance, Linear Finance, Mercurial Finance, Manifold, Benqi, Dexlab, to name a few. 

 

“At GBV, we focus on investing in the brightest, game-changing blockchain projects, bringing our experience, passion and network to help teams in creating the solutions of the future. We can’t wait to explore the creative ideas from innovators to help build the Future of Finance!” — Leslie Tam, Genesis Block Ventures’ Co-Founder and Partner. 

 

Amongst various DeFi applications, TAEBIT’s Hackathon aims to focus its efforts on DEX. Individuals and teams (max 5 people) will compete for 10,000 USD in prize money, as well as the opportunity to receive TAB tokens and work with Taebit’s developer team. 

 

The Taebit Global DeFi Online Hackathon will take place on July 12 – 25, 2021. Following an initial meeting to discuss initial concepts, the teams will have 11 days to develop their prototypes before presenting it to the judge.

About Taebit

Taebit is Korea’s leading DEX and DeFi platform enabling users to optimize their returns with the right tools. 

 

Positioning as the most simplistic and accessible platform to digital and decentralized finance, Taebit serves as an automatic yield generator for everyone with its major features: stablecoin staking, LP staking, and algorithmic investment. 

About Genesis Block Ventures

Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center. 

 

As a private investment company with a mission of building the future through blockchain, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.

Genesis Block Ventures Invests in Crypto Trading and Yield Farming Protocol Pera Finance

DeFi

Full-service investment company Genesis Block Ventures (GBV) announces an investment in Pera Finance. Genesis Block Ventures would support the development of the trading and yield-farming protocol to enable global users to get rewards for providing liquidity, volume, and stability in the DeFi space.

Pera Finance is a multi-layered, trading and yield farming protocol, integrated with the unique trader incentive mechanism to bridge the gap between CEX and DEX. With its innovative daily trading competition design, traders, liquidity providers, and holders yield-farm together through Pera Finance. 

 

Pera Finance rewards users according to their contribution to the ecosystem by using different yield strategies. Currently, Pera offers five distinct daily rewards models, ranging from gasless automatic yield, multi-layer yield farming, daily trading competition rewards, trading solutions partnership rewards, to multi-asset yields, thereby creating a competitive rewards structure more attractive than what centralized exchanges offer.

 

Pera pioneers in creating its unique on-chain daily trading competition, offering rewards to the top ten traders daily. This is designed to boost Pera’s daily trading volume and build long-term sustainability for the yield-farming system. By deploying a proven formula for creating liquidity, Pera builds a DeFi ecosystem where rewards increase as transactions increase —a positive feedback loop making it grow bigger, faster.

Pera Finance: Rewards for Supply & Demand-Side Liquidity

With a mission of building the future through blockchain technology, Genesis Block Ventures has invested in some of the most prominent blockchain startups, making sure that these projects achieve success through strategic partnerships and guidance. Over the years, GBV has added to its portfolio many renowned projects, including Serum, Bonfida, AstroTools, Alkemi Network, Alpha Finance, Mercurial Finance, Manifold, to name a few. 

 

What impresses us most about Pera Finance is their innovation to introduce an on-chain trading competition concept on DEXes, adding a new dimension to the crypto trading experience regardless of price change. Pera’s unique volume-generation features show its potential to grow a new user base and create innovative yield farming features on the Binance Smart Chain. 

 

Additionally, Pera demonstrates its unique positioning for growth in the Turkish market, which is amongst the most crypto-adopted countries in the world. We believe Pera’s Turkey-based founding team gives them a unique advantage to thrive in this largely untapped local market. 

 

“Creating significant liquidity is the first step to establish a successful DeFi project. With its unique, customizable trading competition solutions, Pera Finance attracts liquidity providers and traders to participate in its ecosystem, by rewarding each party with significant long-term farming rewards. It is set to create a versatile and sustainable DeFi platform!” — Leslie Tam, Genesis Block Ventures’ Co-Founder and Partner.

About Pera Finance

Pera Finance is a platform where traders, liquidity providers, holders and stakers can yield-farm together. With DeFi’s first decentralized trading competition, Pera Finance aims to be DeFi’s most sustainable and profitable yield farming protocol.

Pera Finance is a new type of trading and yield farming protocol, designed to secure long term trading volume and liquidity utilization for the whole DeFi ecosystem. Pera Finance offers decentralized and customizable trading competitions to DeFi space and include traders to the yield farming space for the first time, what we call DeFi 2.0!

About Genesis Block Ventures

Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center. 

 

As a private investment company with a mission of building the future through blockchain, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.

The Rise of On-Chain Tokenized Risk Protocols

“The fear of the unknown is possibly the most fundamental fear of human beings.”

We are seeing the rise of on-chain tokenized risk protocols. Interest rates are both a barometer of the economy and an instrument for its control. In the traditional financial market, it is a vital input into the valuation of many financial products. In the DeFi world, money market protocols such as MakerDAO, Compound, and Aave were the first attempts at creating a decentralized money market. These decentralized money market protocols facilitate one of the basic financial needs – lending and borrowing in the DeFi world.

 

Traditionally, the money market is an extremely important element in the global financial system that provides short-term liquidity to facilitate the flow of the global financial market worth trillions of dollars today. 

Table of Contents

The DeFi Landscape

DeFi has experienced tremendous growth over the past year. With a total value locked of more than $100 Billion at its peak across all chains, growing from just over $ 1 Billion TVL roughly a year ago. With such massive growth in value, an influx of innovative DeFi protocols such as lending protocols, DEXs, Oracles, On-Chain perpetual swaps & options protocols, synthetic assets, and insurance protocols have formed an open, permissionless financial universe on the blockchain. As the industry continues innovating and building momentum, DeFi protocols are becoming increasingly sophisticated with their design and mechanisms. Hoping to bring structured products like risk hedging products, financial derivatives, credit/under-collateralized loans to the decentralized financial sector.

 

Without a doubt, there are significant risks in the DeFi world, as we are just beginning to form a structure of understanding for how the future decentralized finance could play out. In the traditional market, appropriate management of risk is an important part of the day-to-day function of a financial institution. However, much of this is missing in the DeFi world where the market participants can not hedge risks such as interest rate movements since there is no financial instrument to facilitate such activities. 

 

When we look from the traditional debt market perspective, the majority of debt markets are driven by fixed-rate lending. This is where it offers certainty to relevant market participants, resulting in a simplified process in managing. However, existing DeFi lending protocols can only facilitate variable rate lending and borrowing activities. These rates can fluctuate significantly according to the market conditions and external factors. For example, the USDC borrowing rate on Aave experienced 2 significant hikes in the past year. In this case the rate was as high as 25% at one point during the first hike.

Figure 1: Historical interest rate for major DeFi lending protocols

DeFi vs CeFi

The DeFi world is different in comparison to the traditional financial market. Where we have “yield incentives” in the form of governance token rewards. These reward users who contribute to the protocol by providing liquidity. As a result, some of the DeFi users don’t mind having variable rate exposure as long as the yield incentives can cover the variable costs. However, we should also recognize that other types of individuals seek stable returns or institutions seeking to deploy in size. Thus, for DeFi to capture the full spectrum of the debt market and attract traditional capital into the game. DeFi lending protocols need to come up with fixed interest rate strategies to expand the “future of france” further to reach mass adoptions.

 

The fixed interest rate aspect in the DeFi lending protocol started with AAVE. AAVE parametrized the stable interest rate model to offer a fixed rate in the short term. However this can be re-balanced in the long- term in response to changes in market conditions. It offers a way for users to gain short-term fixed interest rate exposure, it is never a true fixed interest rate design. But it opens the door for the continuous experiment on interest rate protocols.

 

With the fast iteration of the DeFi industry, we are seeing various on-chain tokenized risk protocols such as fixed interest rate protocol. This surfaced on the market to offer market participants to off-load some of the risks to other participants. Although We are still a long way from seeing a proper DeFi yield curve and interest rate standard, current experiments on risk hedging protocols can form the cornerstone of the future DeFi risk market.

Tokenized Risk Protocols

In traditional financial markets, the Treasury bond yield curve is the benchmark for the pricing of all fixed-income products (Incuba Alpha, 2021). 

  1. A benchmark yield curve forms through zero-coupon treasury bonds with different maturities.
  2. Yield curves form through various fixed-income products deriving from benchmark yield curves and risk spreads.
  3. Deriving from the spot interest rate yield curve, we calculate the forward interest rate curve, and then the swap yield curve takes form, which provides a pricing benchmark for interest rate derivatives such as forward, futures, and swaps. Finally, the entire CDO product issuance process can be realized in the DeFi market, and the whole interest rate market system can be perfected.

 

The DeFi sector is still experimenting with how fixed-income products can be built and what the structure should be. Naturally, the DeFi sector will start imitating the structure of traditional fixed-income products. The below section will dive into some of the tokenized risk protocols in the market.

Figure 2: Tokenized risk protocols sector landscape

Future Cash Flow

Pendle Finance

Pendle enables the trading of tokenized future yield on an AMM system, it exists on top of first-degree protocols, supporting such as Aave and Compound. There are 3 components in the Pendle system that enables the trading of tokenized future yield:

  1. Yield tokenization
  2. Pendle’s Automated Market Maker (AMM)
  3. Governance

The yield tokenization part splits the deposited yield-bearing tokens into two separate parts, the Ownership token (OT) and a yield token (YT). 

Figure 3: Illustration of Pendle yield tokenization process

Users can trade the yield token via the Pendle AMM to long or short the future interest rates without owning a capital heavy asset directly.

 

Pendle’s design reminds me a lot of interest rate derivatives in the traditional market. Where the valuation of these financial instruments needs to incorporate the time value of money. Thus, Pendle creates a unique type of AMM that caters to all assets with time-decaying properties, since the value of a yield token is time-dependent where yield token holders entitlement to less yield as time passes and the token becomes worthless upon expiration. The Pendle AMM curve will shift at the equilibrium point and adjust itself to account for the time decay.

Figure 4: The changing weights of X and Y cause changes in the shape of the curve

Pendle’s yield token AMM could also become the oracle in the interest rate space for other tokenized risk protocols such as 88mph to be used as the fixed interest rate oracle, such that 88mph can offer the market rate “without needing to maintain a market”. Just like how Uniswap’s AMM uses by various DeFi protocols for different purposes. Pendle’s yield token AMM could pioneer the evolution of the tokenized risk protocols sector.

Element Finance

Element Finance is targeting to create a fixed rate, capital-efficient yield protocol for users. It emphasizes its principal token rather than the yield token to enable fixed yield products to be offered in the DeFi market. It expands the fixed-variable component in the lending interest rate world to include e.g. farming yield, ETH 2.0 yield, etc.

 

There are 3 components in the Element Finance system that enables the protocol to offer fixed yield products to users:

  1. Yield tokenization including Principal token and Yield token
  2. Element Finance Automated Market Maker (AMM) 
  3. Governance
Figure 5: Illustration of Element Finance yield tokenization process

Similar to many other future cash flow tokenized risk protocols, the yield tokenization part of the protocol also splits the yield generating base asset into two separate parts called the Principal token (PT) and a yield token(YT) which forms the backbone of Element Finance. Additionally, Element Finance focuses on usability, enabling the creation of fixed-rate vault strategies on top of its infrastructure. It can potentially integrate with existing DeFi protocols such as MakerDAO, Compound, AAVE, Yearn to structure fixed rate products. Furthermore, there are potentials for tranche lending protocols to leverage Element Finance’s fixed-rate products as the backstop for senior tranche. It also introduces the De- Collateralize concept to improve capital efficiency in the DeFi market which is in essence a fixed-term loan that pays the borrow fees upfront while being backed by a yield position.

APWine

APWine is focusing on building its protocol for future yield tokenization. It does not offer fixed interest rates but enables the market to trade future yields. The protocol is to target farmers, traders, and liquidity providers who wish to lock in their future yields.

Figure 6: Illustration of APWine’s future yield tokenization process

The protocol splits the deposited yield-bearing tokens into two separate parts,

  • Principal Tokens (PTs)
  • Future Yield Tokens (FYTs)

 APWine currently features an order-book-based exchange for trading FYTs, however, the protocol is working on a custom AMM design that is tailored for trading future yield.

Swivel Finance

Swivel Finance also leverages two token designs, termed Notional Tokens (nTokens) which is the interest coupon and zero-coupon token (zcToken). However, the protocol implements an orderbook rather than using the AMM model like Pendle and Element Finance which aims to provide capital efficiency enhancement and customizability.

There are 3 major components in its implementation:

  1. High throughput off-chain orderbook & libp2p network
  2. Siloed & censorship resistant on-chain orderbook
  3. A ledger to track active lending agreements
Figure 7: Key differences of Pendle, Element Finance, APWine, and Swivel Finance.

Tranche Lending

BarnBridge

BarnBridge on the high level achieves risk hedging by pooling users’ funds and depositing into respective underlying markets and disproportionately distributing the outcome via “seniors” or “juniors” tranches. It borrows the idea of collateralized debt obligation (CDO) from the traditional market. The SMART Yield bonds allow DeFi users to gain access to fixed yield via the “senior” tranche where the “junior” tranche takes up the variable-rate risks in return for a higher yield.

 

The protocol itself can further expand to include such as tranches for volatility derivatives. We can use such a product to mitigate market price risk by segregating the risk/reward to fit various risk appetites.

Figure 8: Illustration of BarnBridge future yield tokenization process

Saffron Finance

Saffron Finance focuses on customizable risk and returns profiles for liquidity providers. It separates the future earning stream and the NPV of utilized principal in each tranche based on the concept of payback waterfall. 

The payback waterfall is split between two primary tranches.

  • A yield enhanced “A” tranche
  • A risk mitigated super-senior “AA” tranche

88mph

88mph allows you to lend your crypto assets at a fixed interest rate. There are 4 main products in the 88mph system:

 

Fixed-interest rate bond (FIRB)

  • The protocol uses a linear model for determining the fixed interest rate offered to the FIRB holders. The protocol keeps track of 30 Day EMA variable rates on the yield protocols and offers 50% of the EMA as the fixed rate.

Floating-Rate Bond (FRB)

  • The FRB allows users to step in and fund these debts created by the FIRB. FRB users essentially act as the guarantor for FIRB users to get a fixed rate determined by 50% of the EMA. The FRB users then eat up the variable-rate risks and receive compensation by a higher rate if the underlying variable interest rate increases.

Zero-Coupon Bond (ZCB)

  • The ZCB is a product built on top of the FIRB which opens the door for tradable FIRB on the secondary market.

Structured products

  • With the introduction of a new per-deposit variable rate bond system in 88mph v3, structured products such as perpetual yield futures can be built on top of the existing infrastructure.

 

The protocol also offers 2 main derisking mechanisms in order to stay solvent in different market conditions:

  1. Pooling the deposits together to form a pool to protect the protocol against catastrophic risks.
  2. Funding the system’s debt via the floating-rate bonds.

Zero Coupon Bond

Inspired by Dan Robinson and Allan Niemerg in their paper “The Yield Protocol: On-Chain Lending With Interest Rate Discovery”.There are a few implementations of the Yield Protocol with certain tweaks by the UMA project (Yield Dollar), Hifi Finance, and Notional Finance.

 

On a high level, the Yield Protocol introduces the concept of fyTokens, a fungible token similar to a zero-coupon bond that allows fixed-rate borrowing and lending. The fyTokens work quite similar to the traditional zero-coupon bond market where the price of the bond floats freely before maturity, but trades at discounts and offers full face value (par) profits at maturity. The fixed interest rate can be calculated by the difference between the purchase price and the par value.

Notional

Notional is a protocol that facilitates fixed-rate, fixed-term crypto-asset lending and borrowing through a financial instrument called fCash.

 

fCash tokens are the building blocks of the protocol, they always generate in pairs: assets and liabilities, and always net to zero across the protocol. It leverages the accounting equation concept where assets=liabilities+equities

Figure 9: The building blocks of the Notional system- fCash tokens

What’s more interesting for Notional Finance is the Notional AMM, which introduces Dynamic Curve Sensitivity. Notional Finance believes that the optimal liquidity curve sensitivity will vary vastly as a function of time to maturity. In addition, the static curve sensitivity will only be appropriate for a narrow window of time. 

Figure 10: Problems with static sensitivity

Due to the time value of money (TVM) concept when fCash approaches maturity. The interest rate will drift in the absence of any trading which presents a problematic nature in traders extracting value from liquidity providers over time. The Notional AMM prevents this by updating the anchor upon each trade such that the pre-trade interest rate equals the interest rate immediately after the last trade occurred. This mechanism preserves consistent interest rates over time in the absence of trading.

Figure 11: Notional’s dynamic sensitivity design

Interest Rate Swap

Horizon Finance

Horizon Finance allows participants to swap between variable and fixed interest rates through a game-theoretic approach to form decentralized interest rate markets. The protocol currently supports yyCRV and xSushi markets.

 

On a high level, Horizon Finance deposits a pool of money P which consists of money from multiple participants to the target yield protocols over a period of time (Payout time), say 1 day. 

 

Since the current DeFi protocols only offer a variable rate. Users do not know how the lifetime interest rate could be. However, the protocol allows them to submit fixed interest rate “bids” which they think is a fair rate. If they choose not to submit a bid, the protocol will offer a variable rate to the participants.

 

For each payout round, the protocol will distribute the income of P preferentially. This is done in order from the lowest to highest bids in the fixed interest rate space. Any leftover income will distribute to the variable rate participants.

 

This game-theoretic approach assumes the market will collectively act rationally. In an attempt to maximize their individual utility according to their risk preferences.

  • If over time weighted interest rate of fixed IR bids is higher than average realized rate of underlying income stream. Fixed IR bids soak up greater income than they otherwise would receive. They do this at the cost of participants still willing to accept the variable rate.
  • If over time the weighted interest rate of the fixed IR bids is lower than the average realized rate of the underlying income stream. Participants still sitting in the ‘variable’ pool effectively receive an income boost.

Final Thoughts

Any financial market fundamentally exposes participants to risks. Financial instruments such as interest (yield) rate instruments made available to relevant participants to off-load these risks to counterparties. These counterparties have the abilities to take on these risks in exchange for earning a higher compensation. In the traditional market, a significant portion of the financial products is fixed rather than variable. On the other hand, DeFi lending protocols are currently 100% under the variable rate regime. Which lacks the environment for DeFi to cross over with the traditional market. And bring the money into this open, permissionless financial world on the blockchain.

 

Not everyone has the ability to take every risk; We are in the early stage of the “future of france” where the market does not have the necessary tools for DeFi users to hedge certain risks such as yield risk. However, these tokenized risk protocols are the beginning of a new chapter in the DeFi world.

 

Although these protocols have a degree of sophistication as financial instruments which not every user will understand. However, we believe the unprecedented creativities will happen via protocol-to-protocol layer where we leverage the nature of DeFi lego compatibilities. In order to create both standardized and exotic decentralized financial instruments to drive further growth.

 

We believe the rise of on-chain tokenized risk protocols will play an increasingly pivotal role in the ecosystem. Helping DeFi to evolve and creating the next-level financial instruments for a diverse group of players to enter the space.

 

Don’t trust, verify. The sky’s the limit.

 

Thanks for reading The Rise of On-Chain Tokenized Risk Protocols written by 0xminion.eth. If you enjoyed his writing don’t forget to like and follow him!

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Genesis Block Ventures Invests in Self-Sovereign Data Technology Platform Verida

Full-service investment company Genesis Block Ventures (GBV) announces an investment in Verida. Genesis Block Ventures would support the development of the self-sovereign data technology platform to enable global users to own and control their data.

Verida develops decentralised, self-sovereign data technologies for developers, the private sector, governments and citizens, empowering them to easily build self-sovereign applications where users own all their data in encrypted form. 

 

Verida aims to help people obtain ownership and control over their personal data, incentivizing them to unlock their data stored on centralized platforms, and enabling developers to access the data for new exciting use cases. Verida is enabling a new era of “hyper-personalization” by unlocking personal data to transform everyday life.

 

Verida creates an open-source library, Verida Datastore, that enables decentralized applications to be built where users can own, control, and store their data using private encryption keys. The library provides decentralized single sign-on, consensual data sharing, and profile management with tight integration with its free-to-use application Verida Vault. Additionally, Verida offers a collection of enterprise APIs that enable enterprise software to easily connect to the Verida decentralized ecosystem.

 

With a mission of building the future through blockchain technology, Genesis Block Ventures has invested in some of the most prominent blockchain startups, making sure that these projects achieve success through strategic partnerships and guidance. Over the years, GBV has added to its portfolio many renowned projects, including OMG Network, Serum, AstroTools, Alkemi Network, Alpha Finance, Manifold, Litentry, to name a few. 

Verida: Build Self-Sovereign Dapps

What impresses us most about Verida is their vision and technological capability to build self-sovereign applications. Verida has developed multiple decentralized applications that showcase the power of the Verida technology, covering areas such as COVID19 credentials and health record management.

 

Within a short span of time since inception, Verida has established a strong partnership with Andreessen Horowitz-backed decentralized application (Dapp) platform NEAR Protocol. It is also part of the Open Web Collective, a platform-agnostic program that helps teams building the decentralized web to accelerate their progress and gain access to leading investment firms.

 

“Verida successfully innovates in the data technology arena – giving individuals control over how they interact with the digital world. We look forward to contributing to Verida’s further progress to develop the future of decentralized data!” –  Leslie Tam, Genesis Block Ventures’ Co-Founder and Partner.

About Verida

Verida began as a research project in 2018, with the mission of helping people own and control their data. 

 

The team creates architecture for decentralized data ownership and control combining the best of traditional database technologies and decentralized identity standards. This work resulted in the release of the Verida testnet in 2020, providing an open source library for developers to easily build interoperable self-sovereign dApps where users own, control, and store their data using private encryption keys anchored by public blockchain.

About Genesis Block Ventures

Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center. 

 

As a private investment company with a mission of building the future through blockchain, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.

Genesis Block Ventures Invests in Decentralized Cloud Hash Power Trading Protocol HashMix

Full-service investment company Genesis Block Ventures (GBV) announces an investment in HashMix. Genesis Block Ventures would support the development of the decentralized cloud hash power trading platform, to reshape the emerging global cloud hash power market. 

Hash power is and will continue to be the cornerstone of the security of cryptocurrency. However, as the blockchain industry prospers, the hash power sector is more centralized, illiquid than ever before — raising alarms about the viability and security challenges for decentralized networks. 

 

HashMix is uniquely positioned to address some of the greatest challenges in the cryptocurrency and blockchain industry: distribution inefficiency in global hash power. HashMix innovates in tokenizing hash power to NFTs. It enables hash power to circulate and trade beyond the geographical barriers, with borrowing, lending, swap, and other functionalities. 

 

With HashMix, traditional hash power for Bitcoin, Ethereum, and other blockchains — all can be traded in a fully decentralized way without a trusted third party. HashMix is also implementing hash power lending and swapping protocols, to provide the biggest liquidity for hash power, and open up a new possibility of hash power derivatives. 

 

At the heart of HashMix’s solution is its native HSM token, the fuel that powers the HashMix ecosystem. Users can deposit their hash power NFTs into HashMix’s AMM pools to provide liquidity and receive HashMix’s native token HSM in return.

HashMix: Decentralized Cloud Hash Power Tokenization

With a mission of building the future through blockchain technology, Genesis Block Ventures has invested in some of the most prominent blockchain startups, making sure that these projects achieve success through strategic partnerships and guidance. Over the years, GBV has added to its portfolio many renowned projects, including Serum, Linear Finance, SuperFarm, Cudos, to name a few. 

What impresses us most about HashMix is their vision to disrupt the traditional, centralized cloud hash power industry. HashMix demonstrates its potential to become the decentralized hash power liquidity incentive layer for the blockchain space, empowering the global hash power ecosystem. 

We firmly give HashMix a vote of confidence for their team’s work in China’s blockchain landscape over the last several years. Their backgrounds bring a successful mix of blockchain and DeFi expertise, as well as product and technology skills, into HashMix to redesign the economic model for global cloud hash power. 

Through the investment, Genesis Block Ventures is excited to participate in the journey to make cloud mining approachable and decentralized again!

About HashMix

HashMix is a decentralized cloud hash power tokenization and circulation protocol with a mission to redistribute the global hash power freely. 

 

HashMix proposes a tokenization scheme suitable for any hash power and implements a set of universal decentralized cloud hash power trading, lending, and switch protocols through reasonable economic incentive mechanisms, to solve the issues in the current cloud hash power market like has power fraud, lack of functionality, and flexibility, thus allowing the hash power to circulate freely around the world. 

About Genesis Block Ventures

Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center.  

 

As a private investment company with a mission of building the future through blockchain technology, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects. 

Genesis Block Ventures Invests in Solana-powered Stable Asset DeFi Platform Mercurial Finance

Full-service investment company Genesis Block Ventures (GBV) announces an investment in Solana-powered stable asset DeFi platform Mercurial Finance. Genesis Block Ventures would accelerate the development of Mercurial to enable a wider community of investors to swap and invest in stable assets.

As the first dynamic vault platform for stable assets, Mercurial Finance aims to be the easiest place for users to swap and invest in  stable assets on Solana. Mercurial will offer advanced features such as low slippage swaps, lending, flash loans, and external yield farming to optimise returns for users. It is starting with a vault for USDC, USDT, wUSDC and wDAI, facilitating low slippage swaps with dynamic fees.

Mercurial Finance has completed a financing round. Genesis Block Ventures participated in the round, along with other institutional investors such as Alameda Research, Solana Eco Fund, OKEx, and Huobi Global. Other angel investors of Mercurial include Edward Moncada, founder of Blockfolio, TM Lee and Bobby Ong, co-founders of CoinGecko, Darren Lau, The Spartan Group’s Senior Analyst, and Alex Svanevik, CEO of Nansen. 

Mercurial will also collaborate with the Ethereum token swap platform Kyber Network to ensure interoperability between the Ethereum ecosystem and Solana ecosystem.

Mercurial has its initial exchange offering (IEO) successfully launched on crypto derivatives exchange FTX on 9 PM SGT, May 13th. Additionally, Mercurial has launched an initial DEX offering (IDO) on Raydium’s AcceleRaytor on May 19th. 

Mercurial Finance — Dynamic Vaults For Stables

At Genesis Block Ventures, our mission from day one has been to build the future through blockchain technology. We have invested in some of the most prominent blockchain startups, such as Serum, Maps.me, Bonfida, Alpha Finance, AstroTools, SuperFarm, among others, making sure that these projects achieve success through strategic partnerships and guidance.

 

The Mercurial team impresses us with their deep understanding of the crypto market needs and their ability to innovate nimbly to meet them. With Mercurial Vaults, users will be able to enjoy low slippage swaps for stable pairs and forex pairs, as well as dynamic fees that leverage market conditions to improve profits, maximizing capital utilization. Also, users continue to accrue benefits from the platform, such as fees from swaps, commission from yield farms, via the MER token, which can be leveraged as collateral for synthetic stables like mUSD or mBTC.

 

““The Mercurial team’s deep expertise and wide breadth of experience make them a bold and visionary leader in the blockchain and crypto space. We   congratulate them on their exciting new direction and look forward to many more innovations they bring to the DeFi space!” — Genesis Block Ventures’ co-founder and partner Leslie Tam.

 

We share the same vision with Mercurial that stablecoins represent a major part of the DeFi demand across synthetic assets creation, swapping, and lending. Robust availability of stablecoin liquidity is crucial to the crypto and DeFi space as a whole. With the investment, we are excited to participate in the journey to accelerate the growth potential of the Solana DeFi ecosystem!

About Mercurial Finance

Mercurial Finance is building DeFi’s first dynamic vaults for stable assets on Solana, providing the technical tools for users to easily deposit, swap and mint stable assets.

 

Mercurial offers users with market-making vaults providing low slippage swaps for stables, while also improving liquidity providers (LPs) profits with dynamic fees and flexible capital allocation.

About Genesis Block Ventures

Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center.

 

As a private investment company with a mission of building the future through blockchain technology, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.

Genesis Block Ventures Invests in Decentralized Derivatives Exchange Dexlab

Full-service investment company Genesis Block Ventures (GBV) announces an investment in decentralized exchange Dexlab. Genesis Block Ventures would accelerate the development of the Serum DEX to enable a wider community of users to trade and manage cryptocurrency portfolios in one place. 

Built on top of the Serum trading protocol on the Solana blockchain, Dexlab is a decentralized and non-custodial exchange with trustless cross-chain trading. It has a wide range of trading features, such as an all-in-one portfolio management dashboard, vault protection, among other upcoming products, to facilitate a seamless, end-to-end trading experience.  

 

Dexlab’s top priority aims to power the best projects built on Solana to mint and list their tokens. Their Minting Laboratory will allow users to interact with Solana’s CLI easily, by providing an intuitive GUI with a beautiful UX/UI, and will grant users the ability to mint, manage and list SPL tokens and NFTs with simple one-click solutions, bypassing the need to code entirely.

 

With the capacity of processing over 50,000 TPS on the Solana blockchain, DexLab users enjoy faster transaction settlements without having huge gas fees. DexLab also leverages the advantages of Serum to offer trustless cross-chain swaps, a high-performance IDO launchpad, as well as a decentralized order book to automatically match orders on-chain. 

DexLab: Decentralized Exchange on Solana Blockchain

At Genesis Block Ventures, our mission from day one has been to build the future through blockchain technology. We have invested in some of the most prominent blockchain startups, such as OMG Network, Serum, AstroTools, SuperFarm, Don-key Finance, Alpha Impact, among others, making sure that these projects achieve success through strategic partnerships and guidance.

 

“What impresses us most about DexLab is its holistic, all-round approach to be the best mobile app to start crypto trading. It allows users to seamlessly interact with the DEX and leverage its potential. We are excited to see the rollout of this innovative platform and support its next stage of growth!” — Leslie Tam, Genesis Block Ventures Co-Founder and Partner.

 

We are also looking forward to DexLab’ future development to launch its mobile application for Android or iOS. This will significantly boost its market reach as the first to provide full support for mobile devices, desktop computers, and API optimized for DEX transactions. 

About Dexlab

Dexlab is a decentralized exchange platform to power the best Solana projects to mint and list their tokens.

 

Dexlab has a variety of features, but the most important feature is their token Minting Lab.   Dexlab is going to stay on top of the markets by allowing users to mint, manage and list SPL tokens with one-click solutions.

About Genesis Block Ventures

Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center. 

 

As a private investment company with a mission of building the future through blockchain technology, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects. 

Genesis Block Ventures Invests in NFT-Powered Content Creation Platform Xcademy

Full-service investment company Genesis Block Ventures (GBV) announces an investment in NFT-powered content creation platform Xcademy. Genesis Block Ventures would accelerate the development of Xcademy to provide real value and support to global content creators.

 

Powered by high-performance public blockchain Zilliqa, Xcademy is a global platform harnessing the power and value of content creator audiences with the aid of tokenization and non-fungible token (NFT) technology. 

Xcademy provides creators with DeFi plug-in tools to create an incentivized economy by tokenizing the engagement of each creator’s audience and their content. It is also home to an exclusive NFT Marketplace for creators, enabling one-click creation of rare and limited edition NFTs.

 

In May, Xcademy announced the completion of a private round raising $3.9 million. Genesis Block Ventures participated in the round, along with renowned venture capital firms such as LD Capital and AU21 Capital. 

 

In 2021, there was an explosive growth of the digital art and collectibles market; everything is now being wrapped up, sold and traded as unique and individual NFTs. Global users have tens of millions of dollars wrapped up in NBA Top Shot digital “moments” – basically quick video highlights – as the NFT sector’s market cap eclipsed $1 billion in the past few months.  

 

Taking the NFT to the next stage, Xcademy innovates in its exclusive NFT Marketplace assisting creators in issuing NFT moments – segments of a content creator’s videos that are captured and released as NFTs. Their audiences and users will be able to own these special moments by purchasing content creator packs containing them. 

Xcademy: DeFi Plug-in for YouTube

At Genesis Block Ventures, our mission from day one has been to build the future through blockchain technology. We have invested in some of the most prominent blockchain startups, such as OMG Network, Serum, AstroTools, SuperFarm, Don-key Finance, Alpha Impact, among others, making sure that these projects achieve success through strategic partnerships and guidance.

 

What impresses us most about Xcademy is its well-established, integrated ecosystem around the tokenization of creators and their content, covering a wide range of applications. It offers a full suite of intuitive design tools and educational content for aspiring creators to enter the emerging virtual economy. 

 

Xcademy also enables advanced features that let influencers reward loyal viewers. Their audiences can speculate on the future growth of creators by trading the Creator Tokens via the Xcademy DEX. These tokens can be tracked via Xcademy’s InfluencerMarketCap.com, which will show live data of all Creator Tokens.

 

Leveraging the mass reach of YouTubers, content creators and influencers, Xcademy uniquely captures the opportunity to bridge the gap between cryptocurrency and the real world. We are ready to partner with Xcademy to take the crypto world by storm, revolutionizing content creators via tokenization and NFTs!” — Leslie Tam, Genesis Block Ventures Co-Founder and Partner.

About Xcademy

Xcademy is a Zilliqa-powered global platform harnessing the power and value of content creator audiences with the aid of tokenization and NFT technology. 

 

Xcademy provides creators with DeFi tools to create an incentivized economy by tokenizing the engagement of each creator’s audience & their content. Xcademy is also home to an exclusive NFT Marketplace for creators, enabling one-click creation of rare and limited edition NFTs.

About Genesis Block Ventures

Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center. 

 

As a private investment company with a mission of building the future through blockchain technology, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects. 

Genesis Block Ventures Invests in Asset Tokenization NFT Platform Pandora Protocol

Full-service investment company Genesis Block Ventures (GBV) announces an investment in  Pandora Protocol. Genesis Block Ventures would accelerate the development of the asset tokenization NFT platform to enable a wider community of investors to convert their real-world asset to a liquid state using NFTs.

Pandora Protocol is a hybrid open finance solution for problems faced by both traditional finance and decentralised finance. It enables users to tokenize their real assets – from fine arts, automobiles, electronic devices, real estates, to precious metals – to bring them on-chain via NFTs with Pandora’s innovative approach, and induce liquidity in them via Pandora. 

 

Powered by Pandora Protocol, the Pi-NFTs are backed with real-world value assets to yield maximum value and scalable growth, and can be freely traded on Pandora’s marketplace, with lending, borrowing, and yield farming services, without any hassle. Pandora is also the first protocol to bring the continuous double yield on users’ investments through smart algorithmic contracts.

 

At Genesis Block Ventures, our mission from day one has been to build the future through blockchain technology. We have invested in some of the most prominent blockchain startups, such as OMG Network, Serum, Alpha Finance, AstroTools, SuperFarm, among others, making sure that these projects achieve success through strategic partnerships and guidance. 

Pi-NFT: Real-world Asset Tokenization

The NFT market is getting bigger and bigger day by day. We see an enormous potential ahead for NFTs to offer fundamentally better economics for creators around the world. However, the lack of liquidity has become a growing concern for many. Pandora’s middleware solution induces liquidity in the NFT ecosystem for any NFT platform. This is where Pandora has a unique advantage in the burgeoning market.

 

“GBV has been following the NFT developments closely. In Pandora, we find a unique and innovative solution to bring liquidity to the NFT ecosystem. This represents a major breakthrough in the potential use cases for NFTs!”— Leslie Tam, Genesis Block Ventures Co-Founder and Partner. 

 

We are also looking forward to Pandora’s chain-agnostic future, with Pi-NFTs soon being traded across different blockchain networks like Binance Smart Chain (BSC) and Polkadot, as well as DeFi platforms including Uniswap, AAVE, and others. This will power Pi-NFT to bring enhanced, cross-chain liquidity and seamless transactions to the NFT ecosystem as a whole. 

 

At Genesis Block Ventures, we share the same vision with Pandora that non-fungible tokens can play a key role in the innovation path of DeFi. Through the investment, Genesis Block Ventures will help further expand Pandora’s opportunities in the crypto and DeFi space. We are thrilled to participate in the journey to bridge the gap between real-life assets and liquid assets with NFTs!

About Pandora Protocol

Pandora Protocol is providing the platform where any real-world asset can be traded in a trustless and frictionless way via NFT. 

 

We are leveraging the existing blockchain infrastructure and building a middle-layer Pandora protocol on top of it. This middle-layer will help any real-world asset get tokenized in NFT, which can be traded globally anywhere.

About Genesis Block Ventures

Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center. 

 

As a private investment company with a mission of building the future through blockchain, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.

Genesis Block Ventures Invests in Polkadot-powered Diem Canary Platform Pontem Network

Full-service investment company Genesis Block Ventures (GBV) announces an investment in Polkadot-powered bridging platform Pontem Network. Pontem Network is the bridge between the cryptocurrency world and Diem by Facebook.

 

The Facebook-backed digital currency Diem, formerly known as Libra, aims to launch this year. What Pontem does is connect Diem and the decentralized world including the crypto markets. The network will help Diem users get access to all the use-cases provided by the decentralized space, such as financial instruments, security tools, and even games.

The Libra cryptocurrency raised the concern for central banks and regulators when it was first unveiled. The various features on the platform are limited. This is where Pontem Network comes in. Pontem is a bridge between the centralized and decentralized worlds that will allow exchanging value between the two. 

 

Pontem is a parachain built on Substrate using a code base almost identical to Diem’s. It keeps its road to become one of Polkadot parachains supporting Move Virtual Machine (VM), and Move Language, the programming language of Diem – a key driver to attract global crypto developers who are interested in using the Move VM. 

 

Pontem is a Diem canary network without restrictions and limitations, The network leverages Move’s high security and technology infrastructure specifically created and tailored for the emerging markets. 

Bridging Polkadot and Diem

Pontem introduces creators to Diem’s potential and provides them with seamless access to liquidity and resources of popular blockchains. It is an exciting project set for success with an innovative position to engage supporters and grow in a global stage.

 

Within a short span since its inception, Pontem has been approved for two grants, from Web3 Foundation and from Wings Foundation. This will accelerate Pontem’s progress to bring Move’s ecosystem to Polkadot.

 

As the latest development, Pontem has released its first use case, Pontem Blocks. This will enable creating smart contracts for different DeFi instruments with no coding skills required, opening up unlimited possibilities across a myriad of DeFi applications. Pontem Network is set to be the ultimate DeFi solution that will answer the demand of different markets and individuals. 

 

As an investment company with a mission of building the future through blockchain technology, Genesis Block Ventures has built a wide-reaching, vibrant blockchain ecosystem, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and decentralized finance (DeFi) projects. 

 

Through the investment, Genesis Block Ventures will help further expand Pontem Network’s opportunities in the crypto and DeFi space. We are excited to participate in Pontem Network’s journey to bring decentralized freedom to Diem creators!

About Pontem Network

Pontem Network is a solution that will answer the demand of different markets and individuals by connecting the crypto world and the regulated one, Polkadot and Diem (by Facebook). 

 

Pontem is a bridge between the regulated and unregulated worlds that will allow exchanging value between the two. It is backed by Wings Foundation, a Swiss-based non-profit foundation established in 2016. 

About Genesis Block Ventures

Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center. 

 

As a private investment company with a mission of building the future through blockchain technology, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.

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