/ Writing
Today, I am excited to announce that Multicoin Capital has co-led a $4M seed round with Electric Capital in Solscan alongside our friends at Jump Capital, Sequoia Capital, Alameda Research, Solana Ventures,, Signum Capital, and CoinGecko.
Over the last year, Fortnite has pushed the boundaries for large scale synchronous online virtual worlds via concerts (Travis Scott and Ariana Grande on Fortnite). In hindsight, these concerts will be looked back on as the first mainstream precursors to the full blown Metaverse (shout out to The Sims and Second Life for trying this before the world was ready).
/Conversations From The 2021 Multicoin Summit [VIDEOS]
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The 2021 Multicoin Summit was our biggest yet. For those who attended, it was fantastic to see all of you in real life again after two years of quarantine. For those who couldn’t make it, we prepared the following videos below to help you experience the summit from afar.
/Exploring the Opportunity for DeFi Interest Rate Markets
Interest rates are a critical input in the construction and valuation of any financial asset. Every equation in finance has interest rates in it, either explicitly or implicitly. Mortgages, student loans, business loans, government borrowings, and even equities and commodities are impacted by interest rates.
/Welcoming Greg Xethalis to Multicoin Capital
We launched our hedge fund four years ago on October 1st, 2017 with a primary mission to accelerate the adoption of self-sovereign software. Since then, we have also launched two venture funds, a number of SPVs, and built out a global team of 14 people. Meanwhile, the crypto market has matured tremendously. When we first launched, there were no institutional custodians, no execution firms, almost no way to short. Most of the major exchanges didn’t even offer corporate accounts!
/DeFi Protocols Don’t Capture Value, DeFi DAOs Manage Risk
This essay is a spiritual successor to On Value Capture at Layers 1 and 2. It also builds on some ideas from On Forking DeFi Protocols. In those essays, we explored potential value capture mechanisms for both Layer 1 (e.g. BTC, ETH, and SOL) and what we at the time called Layer 2 tokens. In retrospect, this was a misnomer; at the time we were referring to application layer tokens—e.g. MKR, UNI, and AAVE—as opposed to Layer 2s such as Starkware, Matter, Aztec, Optimism, and Arbitrum.
Today, I am excited to announce that Multicoin Capital has led a $17.4M round in Eden Network, alongside participation from Jump Capital, Alameda Research, Wintermute, GSR, Defiance Capital, and Andre Cronje, the founder of Yearn.Finance.
Today I’m excited to announce that Multicoin Capital has led a $3M seed round in UXD Protocol with participation from Alameda Research, Defiance Capital, CMS Holdings, Solana Foundation, Mercurial Finance, Solana founders Anatoly Yakovenko and Raj Gokal, and Saber founder Dylan Macalinao.
/The Future of Finance is Real-Time Reporting
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Today, we’re excited to announce that Multicoin Capital invested in Dune Analytics’ $8M Series A led by our friends at Union Square Ventures. Redpoint Ventures and Dragonfly Capital also participated. As avid users of Dune, we revel in the opportunity to double down in this fundraise after participating in Dune’s seed round last year. It’s not often that we have the opportunity to invest in something that we use everyday.
A blockchain is a database with unique trust-minimization properties. Like all databases, there are two kinds of operations: reads and writes. Most of the discourse to date around scaling blockchains is about writes. This is often measured as transactions per second (TPS). For example, Ethereum supports 15-30 TPS, Binance Smart Chain supports up to 160 TPS, and Solana supports up to 50,000 TPS. Investors have invested billions of dollars to scale blockchain writes.
