Advanced Blockchain Ecosystem Update October 2022

With the conclusion of October 2022, we are pleased to detail the many events of note that have taken place across the Advanced Blockchain ecosystem, including our portfolio companies. Here is all you need to know about these happenings:

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Internal Updates within Advanced Blockchain

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Organizational Changes

Advanced Blockchain has continued to streamline operations. It has further defined its core team and narrowed down its essential infrastructure, resulting in being well-equipped for the following months to preserve shareholder value, make new investments, and continue to incubate in 2023.

Moving forward, Advanced Blockchain reflected primarily in October on its learnings from previous successful incubations and was able to set up optimized governance structures and management flows. The core team looks forward to starting this new chapter as an organization.
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Recent Investments: 

Recently, Advanced Blockchain bought 200.000 DOT (Polkadot) with an average entry price below 6 USD per DOT. With the active P2P partnership, the company has started to stake DOTs again to create recurring revenue and finance business expenses. P2P Validator's proprietary non-custodial staking methodology offers highly accessible, secure, and risk-free strategies, with a previous average annual percentage yield (APY) for DOT staking in the P2P Validator around 15%.
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Advanced Blockchain proudly announces its investment in Light Protocol.

The 4.2 Million USD round was led by Polychain; other investors include Solana Ventures, Hypersphere, and dao5. 
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“We congratulate the Light team on the successful raise. As one of our graduates of the grant program in collaboration with dlab, we couldn’t be prouder to see them reach their goals.” - Simon Telian, CEO

Light Protocol aims to be the base layer for powering seamless privacy and security on Solana. The team is not only vastly experienced in zk tech but also understands the need for privacy being in unison with an unnoticeable UX. More toward their goals can be found in their vision piece (link).
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What's Next? 

The team is currently focused on generating new leads and conducting due diligence on investment opportunities.

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Portfolio Company Services

‍Based on Advanced Blockchain‘s experience, the company has put together a range of development and design services that they offer to both portfolio companies and external businesses. If you're interested in learning more about how we could work together, please get in touch with Christopher Kraft, Head of AB.Labs.

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Validator Node Update

The Incubations Arm increased its number of validator node partnerships with notable Web3 projects to create additional income streams. The second validator node will be announced yet, while the team is currently sourcing a third validator node.

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Events in October we followed with excitement:



As quarterly earnings reports are released, many large tech companies see a decline, but BTC and other cryptocurrencies remain stable. This is despite the usual correlation between crypto and the stock market. Interestingly, as Elon Musk acquires Twitter, we see DOGE surge over 100% in just one week.  Advanced Blockchain was also observing the launch of Aptos, a much anticipated Layer 1 platform. The protocol is designed to bring together the best aspects of traditional and decentralized finance (DeFi). According to Josh Lind (founding engineer @Aptos), the network has already executed over 8 million user transactions, 20% of which were related to NFTs. As investors in the web3 space, Advanced Blockchain will be keeping a close eye on Aptos and its developing ecosystem.

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Portfolio Company Updates: Incubations & Investments

Composable Finance

• Enabled IBC cross-ecosystem messaging between Cosmos and Near Protocol, allowing greater flexibility and functionality for users of both. Listen to the recording of their Twitter Space or technical context.
• Continues to hire to scale Composable. 
• The team announced recent updates in their bi-weekly dev log. These updates are community-centric and aim to improve the overall experience for everyone involved.
• The return of Kusama Token ($KSM) for all crowdloan supporters during the Picasso Parachain slot renewal ($PICA) is in progress.

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Element Finance

• The Element team is trying to increase voter engagement in their DAO. Moving forward, the community has accepted three new proposals.
• Element‘s campaign at Devcon in Bogota was a hit and garnered them further exposure. You can find all the details of what happened in this thread.
• Element is positioning itself further in the research field to build an extendable software suite for testing its ideas.
• Together with the BanklessDAO community, they organized an AMA where people could submit questions on earning fixed-rate yield from DAO treasury capital, which will potentially increase Elements’ active user base. Save the date or submit questions here.

Panoptic

• We successfully executed the last steps during the Panoptic spin-out and wished the team all the best for their future endeavors. Panoptic successfully purchased back the entire intellectual property set that was created along with Advanced Blockchain’s Incubation arm, AB.Labs and settled initial incubation costs for its independence.
• You can find more information about the project on their Twitter, detailing what's next for them.
  
  

Arweave

• Announcement presentation of the Testnet release for Arweave protocol 2.6 to maximize storage while minimizing energy consumption for mining
• This week, Arweave Demo Days in Lisbon will showcase more projects being built on the Arweave platform.

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Alluo Finance

• Alluo successfully launched a new feature called the cashback bonus "Alluo Boost."
• The team announced that they will attend and sponsor ETHGlobal in San Francisco to connect with the ETH ecosystem
• Alluo recently launched their upgraded tokenomics, and they are continually working to enhance the user experience.

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Quasar Finance

• CEO Valentin Pletnev delivers a keynote presentation, "Accessing Global Capital for Institutional DeFi Vaults" for CoinDesk Ideas, talking about the future developments of vaults.
• Quasar's community experienced growth in October.
• Quasar was featured in Halborns' October newsletter and joined discussions about web3, DeFi, and cybersecurity 
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Contango

• Contango continued to develop in October and explained recent events on their Discord channel.

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Maverick Protocol

• Maverick Protocol introduced a novel directional liquidity pooling mechanism. 
• Lastly, Maverick updated recent developments and made aesthetic changes to the UI in preparation for the Mainnet launch in Q4.

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Component Finance

• Its proposal to build a fixed borrow with our other portfolio company Element Finance‘s infrastructure is now live.
• Launch of PerpSim, a user-friendly simulation tool for providing liquidity on PerpetualProtocol's Perp v2. Its purpose is to help DeFi investors make data-driven decisions by backtesting and visualizing their liquidity positions.
• Please visit the website for more information.

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Instrumental Finance

• The Instrumental Finance team has continued creating awareness about the project on Twitter during October  2022, including the possibilities made available by its architecture not only in the Composable Finance ecosystem
• Instrumental staking is now live 
• As part of our initial liquidity mining incentives, but Instrumental also released a further 0.3% of the $STRM supply to reward existing veSTRM lockers.

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Mekatek

• Mekatek released Zenith on the Juno Testnet and Mainnet, enabling users to access a competitive blockspace market that aggregates rewards for all participants.
• Zenith is the Interchain’s first Maximum Aggregate Value (MAV) marketplace. 
• Visit their website for more information.

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Tgrade

• The new partnership between Datachain and Tgrade Finance enables Tgrade to now connect to multiple blockchains, both public and private
• Trusted Circles now link securely to other blockchain platforms.

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Neon Labs

• Neon Labs has completed two audits of their governance models: audit 1, audit 2‍
• Mixbytes conducts test for Uniswap v2 fork deployment on Neon Labs
• The team presented at Devcon in Bogota and will attend Solana Breakpoint

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Peaq Network

• As Peaq Network joined the moveID Gaia-X consortium in September the team partnered further with Web3 company builder Datarella to build decentralized applications and tools for the mobility space.
• Peaq published an outline of their reasoning for building on Polkadot

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Manta Network

• In October  2022, 5,000+ keys were generated to participate in the Manta Networks trusted setup. 
• Manta is highly dedicated to becoming the largest trusted setup in zkp history!

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Pendulum Chain

• The team released the StellarOrg oracle, which is an essential part of Pendulum's innovative infrastructure
• The oracle will move them closer to the vision of a truly decentralized Spacewalk bridge.

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Fractal Protocol

• In October 2022, Fractal Protocol attended several conferences and empowered others to build with them.‍

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FINPRO

• FINPRO is close to wrapping up another NFT project, which will be announced soon. 

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Sigmadex (SDEX)

• ‍Sigmadex (SDEX)  is finalizing Mainnet deployment 
• Furthermore, they informed the audience how they could claim $sSDEX ad what role it will play in the #SigmaFi ecosystem

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zCloak Network

• zCloak Network announced a partnership with DotbitHQ, a blockchain-based, open source, decentralized cross-chain account system
• They deployed SDEX on Mainnet and solidified updated marketing narrative and assets
• Currently the team is preparing its liquidity event and working on on-going development

‍Apricot Finance

• Apricot Finance continued building while attending Devcon in Bogota 
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Talisman

• Talisman designed a Smart Staking feature to offer users an alternative to time-consuming management of validators 
• The Smart Staking feature helps select the amount of $DOT users wish to stake and chooses the best pool for them – guaranteeing maximum staking yields.
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‍Polymer Labs

• Polymer announces an educational guide to Inter-Blockchain-Communication. The first edition can be found here.

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NEAR Protocol

• NEAR Protocol launched its largest hackathon with over 1000 entrants.
• NEAR is also working on improving communication across the ecosystem and community.

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MOXY

•  MOXY is currently preparing their TGE.

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Fragnova

• Fragnova shows the positive side of Web3 technologies with its first game, Ambal Duels.
•  Ambal Duels will be the first blockchain-enabled game to be built using Claymore, a unique game development engine.

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Forest Park Group

• Forest Park Group has not released any updates in October 2022.

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MYSO Finance

• Myso finalized their audit with chain security, putting them a step closer to launching their main product and expanding the DeFi ecosystem with zero liquidation loans. This is a major milestone as security in DeFi is one of the top priorities.
• Their public Testnet will follow shortly.

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Mero Finance (prev Backd)

• Mero´s first community event, held in Bogota during DevCon, was a success, as they sold out all tickets to the venue.  
• The team is now preparing for the following events at ETH Global.

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Warp Finance

• Warp Finance just published the recent version of its biweekly $warp magazine, including recent development updates and a product presentation preview.
• The Warp team, also conducted an AMA with Lattice Capital Investor Pierre Chuzevill.

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For further information on Advanced Blockchain and our other projects and investments, please visit https://www.advancedblockchain.com/.

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Thank you for reading!

‍Advanced Blockchain

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