Mechanism Capital
@MechanismCap
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Joined June 2020
1/ We've recently established a position in Arweave ($AR). A thread on some of our research, and an update on the current state of @ArweaveTeam.
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Frax is often thought of as an algorithmic stablecoin with a dynamic collateralization mechanism. In this deep dive, @alec_korman explains why Frax is so much more than that: a modular, next-generation on-chain money market and a cash flow machine.
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1/ Introducing Solana 20x20. This month at DevCon BKK we partnered w/ the Solana @superteam to host the first in a series of new ecosystem pitch competitions. Our goal was to connect the best early-stage @Solana teams from around the world to top tier investors. S/O to
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We are proud to be supporting @BreederDAO, a critical component of the P2E economy. @BreederDAO is essentially the Lockheed Martin of the metaverse - manufacturing items, heroes, assets needed for players and guilds to battle it out. This project is seriously cool as shit
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1/ We are excited to announce that @mechanismcapital is leading @nansen_ai ‘s seed round. If you’re a fellow on-chain alpha hunter, you know that Nansen offers a suite of indispensable tools for analyzing token/wallet flows and address labels.
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7/ The NFT standard on Solana, @metaplex, utilizes Arweave as a default for metadata storage. So we expect NFT activity on Solana to directly drive increased Arweave network activity.
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2/ Amid all of the noise from the past few months, a decentralized data storage protocol has quietly established itself as essential cryptoeconomic infrastructure for:.-Web3 Apps.-NFTs.-PSTs.-State Storage.
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4/ Arweave’s application layer, the permaweb, hosts web3 apps like @ArDriveApp, @KoiiNetwork, @vertoexchange, and @KYVENetwork, and has a strong value prop for archival storage, research publications, and verifiable news reporting. Image from @Delphi_Digital Arweave Report
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3/ Arweave commands a premium for permanence, and doesn’t try to outprice centralized services like AWS. Instead, users pay upfront for permanent storage based on a forecast of future storage costs. The network is maintained by a system of continuous economic incentives.
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6/ Opensea, Mintbase, and etc have embraced Arweave for this reason. If you know where your metadata lives, you can have confidence in the long term value of your NFT. (.
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5/ NFTs. Recently, a powerful use case has exploded: NFT storage. NFTs typically point to data hosted off-chain. If this data is lost or censored, then the NFT may be rendered useless. Arweave has a huge advantage over other decentralized storage networks in this respect.
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8/ PSTs. Arweave has introduced a novel token system with Profit Sharing Tokens. Devs building with SmartWeave may add a mechanism to their apps that charges a small fee to users who transact on their platform. These fees are distributed to PST holders.
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14/ Network Growth. Total Weave size has grown 922% (1.04 TB → 10.63 TB) over the past year, and daily/weekly/monthly txs have all surged beyond previous ATHs during this summer
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12/ State Storage.Arweave has emerged as the de facto backup for other blockchains. For example, Solana has a record of its state on Arweave through SOLAR bridge. The most ambitious project building on this idea is Kyve.
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We are committed to supporting Binance's Web3 Industry Recovery Initiative. Wallet Address for our initial commitment: .
Introducing the Web3 Industry Recovery Initiative! . #Binance and a number of key industry partners have joined together to commit $1B+ to provide financial support to the most promising and highest-quality companies that need it most. Let's support industry growth together.
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9/ As a consequence, devs and community members not only have a way to earn an ongoing revenue stream from their apps, but they can also monetize future earnings. PSTs have prompted the development of hundreds of applications and Profit Sharing Communities on Arweave.
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13/ Kyve leverages Arweave to create a decentralized archival network which reconstitutes data streams (like a sequence of blocks) as permanent resources. Kyve will increase the resiliency of other blockchains and the cryptoeconomy as a whole.
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10/ These include: . Verto (VRT) - an exchange for PSTs which makes the Arweave ecosystem more dynamic. Openbits (OPENBITS) - an earnings platform for devs of open source packages. (XYZ) - a platform for managing and creating Profit Sharing Communities.
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11/ Verto has recently upgraded their platform to include custom asset pages, allowing protocols to build UIs that best serve their communities. This critical financial infrastructure will help facilitate economic activity on the network.
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16/ For a more general sense of Arweave developer growth, it’s worth noting that the amount of participants in Arweave’s Open Web Incubator/Fellowship/Foundry has also rapidly increased this year, growing from 247 in 2019 → 146 in 2020 → 627 in 2021.
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17/ AR is used to pay for storage and serves as the network’s UoA. AR is also the primary trading pair for PSTs. As the cryptoeconomy increasingly relies on Arweave for permanent data storage, and as PSTs generate more economic activity within Awreave, AR will accrue value.
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15/ The spikes in network tx volume this summer were driven by activities like NFT minting and the archiving of banned Hong Kong media source Apple Daily. The recent tx volume ATH from this past week was due to a popular Solana NFT releases.
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18/ Verba volant, scripta manent ⇒ Arweave gives information on cryptonetworks the capacity to remain.
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9/ We are excited to continue supporting @Asvanevik and team as they build upon their wallet and token tracking services to expand the frontier of on-chain analytics for all of us, Casual, Medium, and Heavy DEX Traders alike.
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2/ @Asvanevik and the Nansen team ship at blinding pace, labeling addresses, adding new tokens, and upgrading tracking metrics with no delay. As a result, Nansen users have been able to digest transaction flows and on-chain metrics with incredible dexterity.
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3/ Why now?. While @Superteam has been supporting leading Solana developers for the past two years, 20x20 is our new initiative: an official global investor pitch day. The 20x20 event at DevCon will be the first of many. Starting next year, we’ll host three yearly pitch
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6/ From the custom dashboards for YFI and Axie Infinity to the aptly-named Token God Mode, is a go-to resource when evaluation trading or investment decisions in liquid assets.
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3/ One basic but helpful heuristic for investing is whether you actually use, or would use, a given product. Another even more obvious benchmark – but, unfortunately, one that is often overlooked – is whether the product is beneficial to the ecosystem as a whole.
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8/ As public blockchains continue to grow, we envision Nansen to be on the forefront of surfacing data for all participants, investors, exchanges and companies as it expands its product suite, surfacing data for new networks like ETH Layer 2s as they come online.
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2 / We are big believers that IRL meetups done right can strengthen developer <> investor relationships and build an incredible global community. This year, we hosted teams from more than 10 countries. We aimed to create a high vibe, entertaining, & educational environment that.
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4/ Nansen fits squarely into both of these categories. - It is easy to use (we use it multiple times per day).- It democratizes data that would otherwise be easily accessible only to the largest players.- It allows investors of all sizes to make better-informed capital decisions.
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7/ In addition to informing investor decision-making, Nansen offers project teams useful tools such as custom-tailored dashboards to track revenues, deposits over time, network participants, and more other crucial metrics.
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5/ Of course, there is no shortage of token tracking products floating around. But none of them compete with Nansen’s seamless UX, its wealth of intuitively-organized data, and the team’s relentless iteration and improvement.
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We've invested in @ViridiFunds who have just launched a clean energy Mining ETF - an investment product for those that see the importance of environmental sustainability.
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