BC Blockchain VC Newsletter

Welcome to the BC Blockchain VC Newsletter, your dedicated source for insights on web3 startups (seeking funds) presented my members of BC Blockchain. Please reach out if interested & for any intros!

Luke

and

Eamon Coffey

Nov 27, 2023

November 27, 2023

Project: Lilypad

(Infrastructure)

🖥️ Website | 🐦 Twitter | 🤝 LinkedIn

Summary:

Lilypad is a permissionless, distributed compute network designed for internet-scale data processing. This innovative platform enables advanced computations, including artificial intelligence and machine learning directly from a CLI, smart contract or web interface. Lilypad unleashes idle processing power to improve computing efficiency and unlock new, unexplored opportunities for DePIN and data economies. Lilypad leverages the work done by Bacalhau (a peer-to-peer open computation network), and builds on it to offer on-chain guarantees and crypto-economic incentives, with a multi-chain capable network, enabling essential coordination layers for a dynamic and efficient decentralized computing ecosystem and marketplace.

Decentralized compute networks like Lilypad are crucial for ensuring broad access to technological advancements and this is especially true in the era of such paradigm-shifting tech as AI. Open-source AI & ML models are faster and more customizable, their lack of access to vital resources like processors remains a significant challenge. Lilypad enables these open-source models to compete with tech giants by matching computational resources with demand and counters the inefficiencies of oligopolies in the tech industry. In applications that utilize these models, networks like Lilypad provide cheaper, more open, and efficient computing, along with resilient storage, improved transparency and restores data ownership to the user.

Team:

Alison Haire: Alison has a background in enterprise software engineering, technology consultancy and R & D projects, with an overriding passion for building open infrastructure with open access to science & technology that can drive positive change for society - something web3 is uniquely positioned to help achieve.

Round:

Seed

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Project: AstroMint

(DeFi)

🖥️ Website | 🐦 Twitter

Summary & Team:

AstroMint is a decentralized finance protocol that provides liquidity for the greater Cosmos ecosystem via both AstroUSD and AstroUSD’s reserves. Purchasing AstroUSD involves a two-party exchange where one party purchases the stablecoin and the other posts assets to ensure that the transaction is overcollateralized. Users who contribute assets for overcollateralization will receive a Reserve Token, which allows users to earn Cosmos rewards and hedge volatility.

One of the core contributors of AstroMint, Rylie Rueda ’20, is a Boston College alumna. Beginning at a non-crypto startup, Rueda grew tired of that work and sought out a new career in the Web3 space. An old friend and her decided to create a new startup that introduced a multi-prong solution to the stablecoin trilemma: AstroUSD seeks to become capital efficient, stable, and decentralized. The AstroMint team saw an opportunity in creating a stablecoin without fiat backing. The team is currently developing AstroMint with a multi-chain approach, referencing a “chain agnostic” mindset. Rueda states that they wish to use a chain that is DeFi centric, user-friendly, safe, permissionless, and compatible with the IBC protocol. AstroMint hopes to provide deeper liquidity for Cosmos and allow users to add value to the greater ecosystem.