This week is all about BTC DeFi and Memecoins

In this week's newsletter, we're sharing a small portion of early web3 deals discovered using Veck's algorithm. This tool analyzes the social interactions of over 3000 investors on LinkedIn, Twitter, and Product Hunt.

If you have any thoughts, feedback, or questions, reach out to me on Telegram @yneehs or email [email protected].

Some of the predictions made right

Nexus → ZKP VM Nexus just raised $25M in a Series A led by Lightspeed and Pantera. We’ve seen interactions with a16z in February 2024.

Mountain Protocol → USDM is the first prudentially regulated, yield-bearing stablecoin. Raised $8M Series A led by Multicoin. We first saw their interactions with Framework and Dragonfly in August 2023 and with Variant and Paradigm in 2024.

Some of the trending projects

Only Apes → Simple way for anyone to create and buy fair-launch tokens that can't be rugged. Interest from Archetype, Dragonfly, Portal Ventures, Galaxy, 1kx, Delphi and others.

Perdiem → Perdiem is creating a new platform for open money. Possible interest from Paradigm, Electric Capital, Maven11, Race Capital and others.

Venice → genAI permissionless platform by ShapeShift founder Erik Voorhees. Getting interest from Plaintext, Collab+Currency, Polychain, Delphi, Tangent, Circle and others.

Some of the projects raising now

Acre → Bitcoin staking (building LIDO for Bitcoin). Interest from Faction and ParaFi.

Orb Labs → biggest social network on Lens. Interest from Electric Capital.

Blockus → provides compliant and seamless wallet-as-a-service, white-label NFT marketplace, and fiat + crypto payments for games. Possible interest from Spartan and Binance Labs.

Some of the very early projects

Lombard → Brings DeFi to Bitcoin. LBTC—a yield-bearing, cross-chain, liquid Bitcoin backed 1:1 by BTC— brings unprecedented interoperability to Bitcoin. Possible investments from Polychain.

Merit → Full-scale on-chain points as tokens protocol & infra solution. Interest from a16z crypto.

Movement → Robinhood for memecoins. Interest from Pantera, Pear VC, Khosla, Electric Capital, Slow Ventures and others.

Some of the founders building in Stealth

Everett H. → building in Stealth. prev. Head of Product at dYdX. Interactions with Hack VC.

Abhishek Punia → building in Stealth: scaling credit markets on-chain via liquid derivatives. prev. product at Set Protocol. Interest from Archetype.

Have a great week!