April 12, 2024
DeFi Decoded Podcast
Discover why developers are buzzing about Monad Labs' $225 million funding round, delve into the mechanics of EVM-compatible blockchains, and explore the dynamic landscape of the current chain ecosystem.
Join Alex Tapscott and Andrew Young as they decode the world of Web3. Listen in as they discuss Monad Labs’ $225 million fundraising round led by Paradigm, why developers are excited about Monad, what EVM-compatible blockchains are and how they work, the current chain ecosystem dynamics and how things might look in the future, the FTX estate selling $1.9 billion worth of locked-up Solana, Genesis liquidating GBTC shares to buy Bitcoin to distribute to Gemini Earn creditors, and more! On Tuesday, Monad Labs, the developer behind an upcoming layer-1 blockchain focused on high throughput and Ethereum compatibility, announced a significant $225 million funding round led by Paradigm, with participation from other notable investors such as Electric Capital, Coinbase Ventures, and many more.
This blockchain platform, designed to integrate seamlessly with the Ethereum Virtual Machine, is purportedly capable of handling 10,000 transactions per second compared to Ethereum’s 20. FTX's bankruptcy estate sold around two-thirds of its $2.6 billion reserve of Solana tokens in a heavily discounted deal at $64 per token due to their four-year lock-up period, attracting interest from industry giants like Galaxy Trading and Pantera Capital. Additionally, Genesis sold 36 million shares of Grayscale Bitcoin Trust (GBTC), using the proceeds to purchase 32,041 Bitcoin for distribution to Gemini Earn creditors.
Tune in to the 141st DeFi Decoded episode to hear Alex and Andrew all things Web3 and DeFi. What is Monad, and why are developers so excited about it? What does EVM-compatible blockchain mean, and how do they work? Why did the FTX estate sell Solana for $64 a token? Was this a good deal?
TIMESTAMPS
[0:00] Introduction
[0:39] Monad Labs’ $225 Million Raise
[3:06] Monad’s Exciting Potential
[9:35] Current Chain Ecosystem vs. Future
[15:08] FTX Estate Selling $1.9B of Locked-Up Solana
[20:45] Genesis Liquidating GBTC Shares to Buy 32K Bitcoin
[25:30] Past Week’s Market Roundup & Bitcoin Halving
[27:41] Conclusion
Part of Ninepoint’s DeFi Decoded Podcast Series. Available at Google, Apple, and Spotify Podcasts.
The opinions, estimates and projections contained within this recording are solely those of Ninepoint Partners and are subject to change without notice. Ninepoint makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, Ninepoint assumes no responsibility for any losses or damages, whether direct or indirect, which arise out of the use of this information. These views are not to be considered investment advice nor should they be considered a recommendation to buy or sell. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Important information about the Ninepoint Partners Funds, including investment objectives and strategies, purchase options, and applicable management fees, and other charges and expenses, is contained in their respective prospectus, or offering memorandum. Please read these documents carefully before investing. We strongly recommend that you consult your investment advisor for a comprehensive review of your personal financial situation before undertaking any investment strategy. For more information visit ninepoint.com/legal. This report may not be reproduced, distributed, or published without the written consent of Ninepoint Partners LP.
