Crypto Deal Flow: November 4–8

The number of activities has slightly decreased. It seems that all the attention of funds and investors is riveted to the top cryptocurrencies and the elections in the United States.

  1. Terra Virtua| $2.5m| Woodstock, Hashed, NGC Ventures and others| private round

Terra Virtua, a virtual reality NFT platform, has raised $2.5m from Woodstock, Hashed, NGC Ventures, LD Capital, YBB foundation, AU21 Capital, Twin Apex Ventures, Amplifi.vc, Moonrock Capital and Rarestone Capital. Also Terra Virtua has partnerships with Unreal, Legendary Entertainment and Paramount Pictures. Kolect token (TVK) — Terra Virtua native token.

2. Razor Network| $3.7m| NGC Ventures, Alameda Research, Borderless Capital and others| private round and seed

Razor Network raised $3.7m in private round and seed from NGC Ventures, Alameda Research, Borderless Capital, IOSG Ventures, Origin Capital, Bixin Ventures, Spark Digital Capital, BTC12 Capital, ZMT capital, Kosmos Ventures, One Block Capital, TRG Capital, Genblock Capital, Consensus Capital, Bitblock Capital and private investors. Razor Network is developing a completely decentralized oracle network, with no centralized bottlenecks and maximum game-theoretical security.

3. Switheo| $1.2m| DeFiance Capital and others| strategic round

Switcheo decentralized crypto exchange raised $1.2m from lead investor DeFiance Capital with participation of Three Arrows Capital, Digital Assets Capital Management, DeFi Capital and MXC exchange. The Switcheo team will develop the Demex decentralized derivatives exchange based on the layer-2 protocol.

4. Square| $1.6B| BTC sales

Square sold a record $1.6B of bitcoins through its Cash App in Q3 2020. This is 86% more than a quarter earlier and 10 times more than in the third quarter of 2019. In the first quarter of 2018, bitcoins were sold for only $34m, since then, only growth has been observed quarterly. Also, recall that Square itself previously invested $ 50m of its reserves in BTC.

5. Vitalik Buterin| 3200 ETH| deposit contract

Vitalik Buterin sent 3200 ETH to the deposit contract to launch Ethereum 2.0. As of November 8, there are 45,839 ETH on the contract, for the successful launch of the network on December 1, 524,288 ETH are required on the contract. That is only 8.75% of the path has now been covered. On Polymarket, the probability of a successful launch of “Ethereum 2.0” on December 1 is estimated at 65%.

6. En + Group and BitRiver| Bit+ | mining

Aluminum and electricity producer En+ Group and operator of Russia’s largest cryptocurrency mining center BitRiver are creating a Bit+ joint venture to mine cryptocurrencies using renewable energy. En+ and BitRiver have partnered to run a new farm, with En+ holding a 80% stake and BitRiver 20% in the joint venture, they said. The venue, located not far from BitRiver’s existing site, will initially offer 10 megawatts of power for miners who would choose to keep their ASICs there, with the potential to expand to 40 megawatts.

7. APY.Finance| IDO on Balancer

APY.Finance, a previously featured profitability farming project on the Crypto Deal Flow, conducted IDO through the Balancer Liquidity Bootstrapping Pool (LBP). The highest purchase price was $2.5, the lowest price was $0.33. Closing price was $0.61. With LBP, the ratio of tokens in the pool changes according to a special formula, which allows the market method to find the equilibrium price of the initial sale of tokens to the public.

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