Weekly Deal Updates - May 27, 2024
Deal Meeting Date
May 27, 2024
Sponsor
Match Chain
ISO Week
22
Number of Deals
5
gm! Welcome back to the Fight Club weekly newsletter where we highlight top crypto news and list this week’s deals.
This week we bring you a bevvy of decentralized tech. Peer-2-peer matching engines, decntralized compute, on-chain derivatives, and infinite money streaming… jump into the dojo for more.
Subscribe to our monthly newsletter for a deeper dive into a trending topic in Web3 and project spotlight. This monthʻs topic is SocialFi featuring our sponsor Match Chain.
FC does not provide investment advice. DYOR before investing.
In this newsletter:
- 💰New Deals💰
- 📰 Top News 📰
- 📈 Market Data 📉
🗞️ Sponsor 🗞️
Contact us if you would like to sponsor this newsletter.
🔥🔗 Match Chain 🔥🔗
With Match Chain testnet exceeding 100 million transactions and attracting over 6 million monthly active users, Match Chain has emerged from its stealth mode to scale its user base, which exceeds 700k+ SBT users.
Match Chain is an interoperable middle layer that bridges Web2 and Web3, accelerating mass adoption. It simplifies building user-friendly protocols with MatchID, a low-barrier DID system. MatchID lets users import from Web2 and move between blockchains (Ethereum, Solana, Cosmos, Aptos) without creating new accounts. MatchHub, a unified login platform, grants seamless access to protocols with a single sign-in using DIDs.
💰 New Deals 💰
New to Fight Club Discord? Head to #start-here to begin the onboarding process. Select the 🧐Prospective Investor role in #role-select to reveal the deal forum.
- Lekker $6mm seed SAFE + token warrant
Lekker aggregates DeFi liquidity, serving as the foundational protocol for on-chain derivatives. Lekker enables products like leveraged tokens and Ethena-style hedge funds. Poised to become the de facto SDK for derivatives, Lekker is currently undergoing closed production tests on Arbitrum and is integrated with Uniswap and Aave.
- TerpLayer $50mm at ? SAFT
Formerly Merlin Protocol, TerpLayer is a Leading Decentralized Interpreter Layer of the Data on Bitcoin. TerpLayer maintains TerpLayer: a Bitcoin native asset indexer oracle for accurate data indexing, Terp BRC20 Adapter: BRC20 adapter for BRC20-ERC-20 interoperability, and TPUSD: the first BRC20 stablecoin specifically designed for the Bitcoin network.
- MYX $20mm private sale SAFT
At the heart of MYX Finance is the Matching Pool Mechanism (MPM), a fully decentralized peer-to-pool-to-peer matching engine. This technology revolutionizes on-chain capital efficiency, enabling MYX to combine the low-fee structure of centralized exchanges (CEXs) with high yields for liquidity providers.
- Exabits $15mm seed SAFT
Exabits is an accelerated decentralized computing network for affordable AI. With the largest HPC clusters in web3, they are enabling consumer GPUs to achieve performance comparable to Nvidia A100/H100 reducing the cost of computing by up to 90%.
- Papaya Finance $1.5mm seed SAFT
Papaya Finance is an infinite-scaling money stream protocol for use cases like on-chain payroll, grants, vesting, and subscriptions. Backed by 1inch, Papaya Finance supports on-chain subscriptions-based services/platforms, like Netflix or Spotify, with one-click transaction processes that simplify the collection for millions of subscribers.
📰 Top Crypto News 📰
Here's the latest scoop from the blockchain, crypto, and Web3 world. 🚀🌐
- 🏛️ CFTC Commissioner Summer Mersinger on Overzealous Crypto Regulation and the Need for Legislative Action - Insights from the CFTC Commissioner on the need for balanced crypto regulation.
- 🌍 Why Decentralized AI Is Gaining Steam - The growing intersection of decentralized AI and blockchain technology.
- 🌐 Ethereum ETFs Approved: Insights into the SEC’s Decision - Detailed insights into the SEC's decision to approve Ethereum ETFs.
- 🌍 The House Bans The Fed From Building A CBDC Like The Digital Yuan - The U.S. House of Representatives passed a bill to ban the Federal Reserve from developing a CBDC similar to China's digital yuan. However, the Bill still has a long way to go before becoming law - it needs to pass a vote in the Senate and potentially stand a presidential veto.
- 🌐 Bitcoin Miner Marathon Digital Signs Deal With Kenya to Invest in Green Energy Projects - Marathon Digital partners with Kenya to invest in green energy initiatives.
- 🤝 Ether ETF Listing Approval Sees Billions Poured Into Restaking Protocol Ether.Fi - The approval of Ether ETFs leads to significant investments in Ether.Fi.
- 🚀Vitalik Buterin addresses threats to Ethereum's decentralization in new blog post - Vitalik Buterin discusses key issues affecting Ethereum's decentralization, including MEV, liquid staking, and hardware requirements for running nodes.
- 🎮 Standard Chartered analyst says other crypto ETFs such as SOL, XRP 'is likely a 2025 story' - Following the approval of ether spot ETFs, Standard Chartered analyst Geoffrey Kendrick suggests that ETFs for other cryptocurrencies like Solana and XRP might be approved in 2025.
- 🌍 Trump Widens Lead Over Biden (on Polymarket and PredictIt) After Courting Crypto Vote - Trump gains traction in the polls after appealing to the crypto community, highlighting the political influence of the crypto sector.
📈 Market Data 📉
DEX Weekly Transaction Volume by Chain
Top Cryptocurrencies
| Token | May 19, 2024 | May 26, 2024 | % Change |
| BTC | $66,253 | $68,509 | 3.4% |
| ETH | $3,071.32 | $3,825.28 | 24.5% |
| BNB | $574.23 | $600.01 | 4.5% |
| SOL | $170.07 | $163.36 | -3.9% |
| XRP | $0.509694 | $0.528232 | 3.6% |
Source: CoinGecko Closing Prices.
Significant Gainers and Losers
Criteria: 1) Volume (24h) > US$50,000; 2) Have gained or lost the most in the last 7 days.
- Active Gainers:
| Token | Price | % Price Change(7d) | Volume (24hr) |
| Pepe (PEPE) | $0.0000158 | 42.62% | $2,871,795,560 |
| Ondo (ONDO) | $1.19 | 27.67% | $238,870,583 |
| JasmyCoin (JASMY) | $0.0259 | 27.24% | $363,530,642 |
- Active Losers:
| Token | Price | % Price Change (7d) | Volume (24hr) |
| Arweave (AR) | $38.85 | 13.99% | $73,100,858 |
| Maker (MKR) | $2,695.79 | 13.75% | $92,253,349 |
| Pyth Network (PYTH) | $0.43 | 13.42% | $129,627,670 |
Source: CoinMarketCap as of May 27, 2024.
Market Sentiment and Indicators
- Crypto Fear and Greed Index: The Index value started at 70 Greed at the beginning of the week, and stably climbed to 74 Greed at the end of the week. The index is recalculated daily, reflecting the emotional state of the market, which can influence trading behaviors.
Source: Crypto Fear and Greed Index
🥊 Join Fight Club 🥊
- 👾 Participate in our community on Discord
- ✖️ Follow us on Twitter
- 🤝🏽 Join our Deal channel on Telegram
- 🖼️ Mint an NFT to participate in deals and FC programs
- 📺 Subscribe to our YouTube to see project demos