Participated · Seed · Oct 2024

Yala builds a modular liquidity protocol that issues Bitcoin-backed stablecoins and enables cross-chain deployments to connect Bitcoin with multi-chain DeFi ecosystems. Its core products include a multi-token system with $YU (a Bitcoin-backed stablecoin) and $YALA (governance token), plus features such as an overcollateralized stablecoin mechanism, an insurance derivatives service, and a MetaMint functionality. The protocol’s architecture supports deployments across EVM-compatible platforms like Ethereum and non-EVM systems such as Solana to enhance Bitcoin composability. Yala plans to expand engineering, growth, and security teams as it moves toward mainnet launch and will release a testnet next week. Financially, the team raised an $8 million seed round and reports over 2,000 BTC in committed deposits from investors, and the round was 3x oversubscribed.

Participated · Series A · May 2024

Uxuy is a decentralized multi-chain trading platform incubated by Binance Labs and based in Singapore. The company is dedicated to providing users with a seamless trading experience across various blockchain networks. It focuses on enabling efficient, low-cost transactions for assets such as lightning network taproot assets, ordinals BRC-20, and runes. Uxuy raised $7M in a Pre-A funding round to advance these capabilities. The platform intends to use the funds to promote efficient and low-cost transactions of the specified asset types and to further develop its multi-chain trading infrastructure. No operating metrics or prior funding details were provided in the article. Uxuy operates a decentralized multi-chain trading platform that leverages MPC wallet technology to enable cross-chain trading of cryptocurrencies and digital assets. The company emphasizes user control under the philosophy “Your Crypto, You Control.” In August the UXUY app beta was released on application markets, featuring a Gas Credit product and GasPool to pay gas for transfers and transactions across public chains. Uxuy received an investment from MEXC Ventures and intends to use the funds to expand operations and broaden its business reach. The article does not disclose revenue, user metrics, or the size and instrument of the investment. Uxuy is a Singapore-based provider of a Multi Party Computation (MPC)-based decentralized trading platform. The company offers mnemonic-free and gas-free solutions to help users get started and conduct cross-chain transactions. Uxuy supports public chains, leverages a “wallet + transaction” approach, and proactively participates in building the “Unclaimed” ecosystem. It plans to create a stablecoin liquidity pool to provide users with a “stablecoin-centric” trading environment. The company raised $3.2M in Seed funding and intends to use the proceeds to build its decentralized trading platform. Backers included Bixin Ventures, WaterDrip Capital, KuCoin Ventures, Pionex, LK Ventures, Arcane Group, Daoverse Capital, and Lapin Digital.

Participated · Seed · Apr 2024

Zulu Networks builds a dual-layer Bitcoin architecture comprising an EVM-compatible L2 (ZuluPrime) and a UTXO-focused L3 (ZuluNexus) to enable smart contracts, dApps, and native Bitcoin asset interoperability. The company is developing decentralized Bitcoin bridge infrastructure intended to connect all Bitcoin Layer 2s and the broader crypto ecosystem to Bitcoin. Zulu plans to use new funding to enhance EVM compatibility, improve UTXO scalability, and expand smart contract functionality to support a versatile BitFi ecosystem. It also intends to build a fully decentralized Bitcoin Bridge, attract developers for BitFi applications, establish strategic partnerships, and conduct Bitcoin-focused R&D. The team emphasizes preserving Bitcoin’s security and reliability while enabling DeFi and financial services on native Bitcoin assets. Zulu positions itself as an infrastructure provider to broaden adoption and utility within the Bitcoin economy.

Participated · Seed · Mar 2024

BEVM is a decentralized EVM-compatible Bitcoin Layer-2 project based on the Taproot Consensus. It uses BTC as gas and enables all dApps that run on Ethereum to operate on Bitcoin L2s. The project plans to expand the Bitcoin Layer-2 ecosystem via a BEVM-Stack "layer-2-as-a-service" to let developers launch applications with one click. BEVM also intends to build a Decentralized Bitcoin Foreign Exchange (DBFX) protocol to bridge native BTC into DeFi protocols. The team raised $10 million in a seed and partial Series A funding round, and its post-investment valuation is estimated at $200 million. More than 20 institutions participated and the funding will be used to expand activities and further decentralize the Bitcoin ecosystem.