Paradigm is a research-driven investment firm based in San Francisco, specializing in the cryptocurrency sector. Founded in 2018 by Matt Huang and Fred Ehrsam, the company aims to support innovative companies and protocols from their inception, often at the idea stage. Paradigm emphasizes a builder mentality, with many of its team members having experience in developing tools and protocols that play a significant role in the crypto ecosystem. The firm is committed to advancing the frontier of cryptocurrency through both investment and the creation of open-source software. Research is central to Paradigm's approach, as the firm believes that deep understanding fosters innovation and progress. Rather than solely providing financial support, Paradigm actively engages in collaboration, whether it be through producing research papers or offering product and business strategy guidance.
Across is a cross-chain bridge secured by UMA's optimistic oracle for L2s and rollups. It also optimized for capital efficiency with a single liquidity pool, a competitive relayer landscape, and a no-slippage fee model.
Ellipsis Labs
Venture Round in 2024
Ellipsis Labs is building Phoenix, a decentralized limit order book on Solana that is fully on-chain, non-custodial, and crankless.
Ithaca
Venture Round in 2024
Ithaca intends to deal with major difficulties in the bitcoin space by leveraging technologies from existing Layer 2 solutions, such as Optimism and Starkware. The company utilizes the Reth SDK, enabling developers to build with cutting-edge features and facilitate frictionless onboarding, attracting the crypto developer community.
Sorella Labs
Seed Round in 2024
Sorella Labs is developing a solution to solve Ethereum's maximum extractable value (MEV) problems and focuses on mitigating MEV through pattern.
Conduit
Series A in 2024
Conduit operates as a platform focused on providing crypto native infrastructure aimed at supporting developers in the cryptocurrency space. The company collaborates with leading crypto engineering teams to develop a comprehensive suite of tools that facilitate the creation, deployment, and maintenance of smart contracts, particularly on the Ethereum network. By offering a visual programming environment, Conduit enables developers to build, test, and deploy smart contracts efficiently, utilizing various programming languages and libraries. This streamlined approach enhances the overall development process, empowering builders in the rapidly evolving field of cryptocurrency.
Monad
Series A in 2024
MONAD is a proof-of-stake (PoS) blockchain and decentralized computation platform that combines the best of performance and portability.
Ellipsis Labs
Series A in 2024
Ellipsis Labs is building Phoenix, a decentralized limit order book on Solana that is fully on-chain, non-custodial, and crankless.
Axiom
Series A in 2024
Axiom enables smart contracts to securely compute over Ethereum's whole history, including transactions and receipts. Developers can send on-chain queries to Axiom, which are automatically completed with ZK-verified responses delivered back to the developer's smart contract.
Blast
Venture Round in 2023
Blast is an Optimistic Rollup-based Layer 2 network.
Friend.Tech
Seed Round in 2023
Friend.tech is a decentralized social media app that allows users to tokenize their friends.
Flashbots
Series B in 2023
Flashbots is a research and development company that specializes in the extraction of miner extractable value (MEV) in a transparent and efficient manner. The organization aims to address the negative consequences associated with current MEV extraction methods and to mitigate the potential risks that MEV poses to state-rich blockchains, particularly Ethereum. Flashbots is dedicated to fostering a permissionless and equitable ecosystem that facilitates the extraction and redistribution of MEV, ensuring that the process is accessible and fair for all participants in the blockchain network.
EDX Markets
Series A in 2023
EDX Markets operates as a digital asset marketplace. It caters to the needs of both crypto-native firms and large financial institutions. The company trades in various cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. EDX Markets combines innovative technology with financial services to enable safe and compliant trading of digital assets. It also provides trading resources and a UAT Environment for its users. The company is also known for its focus on hiring crypto talent, as stated by its CEO, Jamil Nazarali.
Utopia Labs
Series A in 2023
Utopia Labs specializes in creating an operating system tailored for decentralized autonomous organizations (DAOs) to streamline payment requests, payroll, and reporting processes. The platform enables users to manage invoices and expenses for contributors through a single link, facilitating the automation of recurring salaries for core team members. Additionally, Utopia Labs provides a payment application that allows for free, instant, and global transactions, simplifying the management of contributor payments and expenses. With features that organize transactions through tagging, the system enhances transparency in financial reporting for DAOs.
Conduit
Seed Round in 2023
Conduit operates as a platform focused on providing crypto native infrastructure aimed at supporting developers in the cryptocurrency space. The company collaborates with leading crypto engineering teams to develop a comprehensive suite of tools that facilitate the creation, deployment, and maintenance of smart contracts, particularly on the Ethereum network. By offering a visual programming environment, Conduit enables developers to build, test, and deploy smart contracts efficiently, utilizing various programming languages and libraries. This streamlined approach enhances the overall development process, empowering builders in the rapidly evolving field of cryptocurrency.
Uniswap
Series B in 2022
Uniswap Labs is a software company founded in 2018 by Hayden Adams, who created the Uniswap Protocol, a decentralized platform for swapping digital assets. The protocol has facilitated $2.75 trillion in transaction volume since its inception. Uniswap Labs focuses on developing widely used decentralized finance (DeFi) products, including a user-friendly web interface, a self-custody mobile wallet, and an API tailored for professional market participants. The platform empowers liquidity providers and traders by offering a financial marketplace that is open and accessible to all. Utilizing smart contracts, it enables secure and decentralized on-chain conversions of assets, allowing users to trade tokens directly without intermediaries while defining asset prices based on the liquidity staked in the system.
Tessera
Series A in 2022
Tessera's mission is to curate the most extraordinary collective ownership experiences produced by the greatest creators, builders, and leaders. Tessera's vision is a world where anyone can have the opportunity to collectively own and govern things they value, without reliance on central gatekeepers to execute decisions and actions on their behalf.
SignalPlus
Series A in 2022
SignalPlus is an enterprise technology company dedicated to enhancing accessibility in trading options for digital and crypto assets. It offers a fully automated trading system that addresses the infrastructure gap between centralized finance (CeFi) and decentralized finance (DeFi) platforms. Utilizing an AI-powered trading robot, SignalPlus automates market making and risk hedging, enabling traders to manage their risks effectively. The platform features a comprehensive cryptocurrency trading dashboard, which includes a variety of pricing, analytics, and execution algorithms, as well as multi-vendor and direct market access. This setup supports high-touch trading strategies while ensuring there is no cost commitment for users.
SignalPlus
Seed Round in 2022
SignalPlus is an enterprise technology company dedicated to enhancing accessibility in trading options for digital and crypto assets. It offers a fully automated trading system that addresses the infrastructure gap between centralized finance (CeFi) and decentralized finance (DeFi) platforms. Utilizing an AI-powered trading robot, SignalPlus automates market making and risk hedging, enabling traders to manage their risks effectively. The platform features a comprehensive cryptocurrency trading dashboard, which includes a variety of pricing, analytics, and execution algorithms, as well as multi-vendor and direct market access. This setup supports high-touch trading strategies while ensuring there is no cost commitment for users.
Dework
Seed Round in 2022
A web3-native Trello with token payments, credentialing, bounties and more
Optimism
Series B in 2022
Optimism is a New York-based decentralized infrastructure platform founded in 2019, focused on enhancing the scalability of Ethereum through its layer 2 solutions. As a public benefit corporation, it aims to balance the financial interests of its stakeholders with the broader needs of the community and society. The platform enables developers to create scalable smart contracts and facilitates instant transactions, thereby improving access to public goods on the internet. By utilizing open-source software and zero-knowledge proofs, Optimism ensures the integrity of state updates while promoting responsible and sustainable operations in the blockchain ecosystem.
Gauntlet
Series B in 2022
Gauntlet is a developer of a financial modeling and simulation platform aimed at enhancing the safety and efficiency of blockchain protocols and smart contracts. The company's platform utilizes agent-based simulation to analyze and optimize key parameters of various protocols, which helps improve capital efficiency, fees, risk management, and incentive structures. By modeling market risk and economic incentives, Gauntlet enables clients to maximize their returns while minimizing potential risks. Its applied research and optimization teams focus on driving sustainable growth for leading crypto protocols, chains, and on-chain treasuries, ultimately enhancing financial performance for businesses in the blockchain ecosystem.
OpenSea
Series C in 2022
OpenSea is a peer-to-peer marketplace dedicated to the trading of crypto collectibles and non-fungible tokens (NFTs). It facilitates the buying and selling of various digital assets, including gaming items and virtual goods, all secured by blockchain technology. Users can engage in transactions through smart contracts, which enhance security and trust in the trading process. The platform aims to streamline the exchange of these digital assets, making it accessible for anyone interested in the world of crypto collectibles. By providing a user-friendly interface and robust infrastructure, OpenSea has established itself as a leading marketplace in the burgeoning NFT space.
Osmosis Foundation
Initial Coin Offering in 2021
Osmosis Foundation operates a decentralized peer-to-peer blockchain platform that facilitates the creation of liquidity and trading of IBC-enabled tokens. The platform features an advanced automated market maker (AMM) protocol, which represents a significant evolution in how liquidity providers engage with decentralized finance (DeFi). Built using the Cosmos software development kit (SDK), Osmosis allows developers to design, build, and deploy customized AMMs, enhancing the flexibility and functionality of liquidity solutions within the ecosystem. By utilizing open-source software, Osmosis promotes transparency and accessibility in the DeFi space.
Euler
Series A in 2021
Euler is a non-custodial lending protocol built on Ethereum that allows users to lend and borrow a wide range of crypto assets without relying on a trusted third party. The platform offers a capital-efficient solution for earning interest on crypto holdings and provides mechanisms to hedge against market volatility. By utilizing reactive interest rates informed by control theory, Euler's system adapts in real-time to market conditions, enabling users to manage risk effectively. This innovative approach allows clients to engage with a diverse array of crypto assets while minimizing risk exposure.
Tessera
Seed Round in 2021
Tessera's mission is to curate the most extraordinary collective ownership experiences produced by the greatest creators, builders, and leaders. Tessera's vision is a world where anyone can have the opportunity to collectively own and govern things they value, without reliance on central gatekeepers to execute decisions and actions on their behalf.
dYdX
Series C in 2021
dYdX is a decentralized exchange that provides traders with a secure and efficient platform for various financial activities. Established in 2017 by Antonio Juliano, a former engineer at Coinbase and Uber, dYdX operates on audited smart contracts on Ethereum, ensuring transparency and security without relying on a central authority. The platform offers a range of trading options, including perpetual, margin, and spot trading, along with borrowing and lending pools. Users can earn interest on deposits or take loans at nominal fees, enabling them to trade on margin with customized leverage. dYdX aims to create an open financial system, granting users access to vital financial tools while facilitating fully collateralized loans for short-selling.
Lido
Initial Coin Offering in 2021
Lido is a developer of an open-source liquid staking platform that enhances the Ethereum network's block validation capabilities. The platform addresses challenges related to initial cryptocurrency staking by allowing users to stake their assets and receive synthetic native tokens of equivalent value. These tokens can be utilized across various decentralized finance applications, enabling users to earn yield while maintaining liquidity. Lido's middleware operates on the Ethereum blockchain, ensuring perpetual access through multiple interfaces and channels.
Gitcoin
Venture Round in 2021
Gitcoin is a platform designed to help open source developers monetize their work by facilitating payments when their contributions are utilized. Established in 2017 and based in Boulder, Colorado, Gitcoin leverages the Ethereum network and smart contracts to align the interests of various stakeholders within the ecosystem. This innovative approach allows for direct programming of rights, incentivizing participants to deliver value while minimizing reliance on traditional legal mechanisms. The platform supports a range of programming languages, including Python, Rust, Ruby, JavaScript, and Solidity, fostering collaboration among developers and project maintainers. Gitcoin embodies the #givefirst philosophy of the Boulder tech community, which emphasizes mutual support and collaboration, thereby strengthening both the community and the open source projects it nurtures. Through its services, Gitcoin aims to enhance the sustainability and growth of open source software development.
Opyn
Series A in 2021
Opyn is a decentralized protocol that facilitates options trading on Ethereum and ERC20 tokens. It allows users to earn premiums or express views on assets through the trading of options, specifically offering European, cash-settled options that automatically exercise upon expiry. Opyn's options, known as oTokens, are ERC20 tokens that can be traded on any decentralized exchange adhering to the ERC20 standard. The platform initially launched with Opyn v1, which established the first live ERC20 options protocol, enabling users to create, buy, and sell options for any ERC20 token. Opyn v1 continues to operate on the Ethereum network, providing a venue for American, physically settled options, while ongoing developments aim to expand the range of ERC20 options available. By optimizing capital efficiency and promoting inclusive trading practices, Opyn enhances the overall experience for the trading community.
Synthetix
Seed Round in 2020
Synthetix is a decentralized protocol based on the Ethereum blockchain that facilitates the issuance of synthetic assets for derivatives trading in decentralized finance (DeFi). Founded in 2017 by Kain Warwick in Sydney, Australia, Synthetix enables users to create and trade synthetic assets that provide exposure to various real-world assets, including currencies, commodities, stocks, and indices. The platform supports a range of financial products such as perpetual futures and options markets, allowing for peer-to-contract trading with infinite liquidity. Synthetix operates through a distributed collateral pool, ensuring users can access synthetic versions of both fiat and cryptocurrencies while maintaining an overview of the entire network.
Uniswap
Series A in 2020
Uniswap Labs is a software company founded in 2018 by Hayden Adams, who created the Uniswap Protocol, a decentralized platform for swapping digital assets. The protocol has facilitated $2.75 trillion in transaction volume since its inception. Uniswap Labs focuses on developing widely used decentralized finance (DeFi) products, including a user-friendly web interface, a self-custody mobile wallet, and an API tailored for professional market participants. The platform empowers liquidity providers and traders by offering a financial marketplace that is open and accessible to all. Utilizing smart contracts, it enables secure and decentralized on-chain conversions of assets, allowing users to trade tokens directly without intermediaries while defining asset prices based on the liquidity staked in the system.
Optimism
Seed Round in 2020
Optimism is a New York-based decentralized infrastructure platform founded in 2019, focused on enhancing the scalability of Ethereum through its layer 2 solutions. As a public benefit corporation, it aims to balance the financial interests of its stakeholders with the broader needs of the community and society. The platform enables developers to create scalable smart contracts and facilitates instant transactions, thereby improving access to public goods on the internet. By utilizing open-source software and zero-knowledge proofs, Optimism ensures the integrity of state updates while promoting responsible and sustainable operations in the blockchain ecosystem.
Flashbots
Seed Round in 2020
Flashbots is a research and development company that specializes in the extraction of miner extractable value (MEV) in a transparent and efficient manner. The organization aims to address the negative consequences associated with current MEV extraction methods and to mitigate the potential risks that MEV poses to state-rich blockchains, particularly Ethereum. Flashbots is dedicated to fostering a permissionless and equitable ecosystem that facilitates the extraction and redistribution of MEV, ensuring that the process is accessible and fair for all participants in the blockchain network.
O1Labs
Series A in 2019
O1Labs, founded in 2017, is a blockchain technology company specializing in zero-knowledge cryptography and innovative cryptographic solutions. The company is recognized for its development of the Mina Protocol, which is the first lightweight, scalable, and decentralized blockchain utilizing zero-knowledge proofs. Additionally, O1Labs created o1js, an intuitive framework aimed at simplifying the development of applications using zero-knowledge technology. By enhancing blockchain accessibility, O1Labs provides developers with the tools needed to create user-friendly cryptocurrency applications that operate seamlessly in web browsers. The company's mission is to foster a new generation of applications driven by zero-knowledge cryptography.
Ignite
Series A in 2019
Ignite is a blockchain company founded in 2014 by Ethan Buchman in Berkeley, California. It specializes in developing tools and protocols that simplify blockchain application development. One of its key offerings is Ignite CLI, an open-source rapid prototyping tool that allows developers to create new blockchains swiftly, reducing the time required to launch a local testnet from hours to just minutes. The tool features intelligent scaffolding, which not only accelerates the development process but also lowers the entry barriers for new developers in the blockchain space. Additionally, Ignite focuses on creating a consensus algorithm and a peer-to-peer networking protocol designed to support internet-scale distributed applications, enhancing the speed, security, and scalability of blockchain solutions while enriching the overall blockchain ecosystem.
Veil
Seed Round in 2019
Veil, Inc. is a peer-to-peer trading platform that focuses on prediction markets and derivatives, leveraging the Augur and 0x protocols. Founded in 2018 and headquartered in San Francisco, California, the company allows users to engage in betting on various prediction markets while also facilitating the trading of a diverse array of crypto assets. Veil's innovative platform aims to enhance user participation in decentralized markets by providing a seamless and accessible trading experience.
Spacemesh
Venture Round in 2018
Spacemesh is a blockchain protocol based in North Pole, Alaska, that focuses on creating a fair, decentralized, and secure platform for smart contracts. It employs a unique Proofs of Space-Time (PoST) consensus mechanism and utilizes a Directed Acyclic Graph (DAG) topology instead of traditional chain structures. This innovative approach allows for a leaderless, non-competitive voting system known as Collaborative Mining, which promotes permissionless decentralization. The platform is designed to be open-source and programmable, enabling users to run general-purpose smart contracts efficiently while conserving resources by leveraging unused storage space on hard drives for computation. With its emphasis on security, fairness, and environmental sustainability, Spacemesh aims to provide a robust cryptocurrency solution that can self-heal and adapt to the needs of its users.
Gauntlet
Gauntlet is a developer of a financial modeling and simulation platform aimed at enhancing the safety and efficiency of blockchain protocols and smart contracts. The company's platform utilizes agent-based simulation to analyze and optimize key parameters of various protocols, which helps improve capital efficiency, fees, risk management, and incentive structures. By modeling market risk and economic incentives, Gauntlet enables clients to maximize their returns while minimizing potential risks. Its applied research and optimization teams focus on driving sustainable growth for leading crypto protocols, chains, and on-chain treasuries, ultimately enhancing financial performance for businesses in the blockchain ecosystem.
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