Inventory of 16 Israeli concept coins worth paying attention to, with infrastructure and DeFi as the main force.

16 Israeli concept coins to watch, focusing on infrastructure and DeFi.

This article will take stock of Israeli Web3 projects that have issued tokens, covering various fields such as Layer2, DeFi, Layer1, NFT, and games. Among them, StarkWare has a valuation of up to 8 billion U.S. dollars.

Author: Nancy

After the outbreak of a large-scale conflict between Israel and Palestine, many Web3 projects based in Israel have attracted industry attention, and related concept tokens have also experienced continuous gains. As a recognized technological powerhouse in the world, although Israel is a small country, its encryption technology has become a force that cannot be underestimated. This article by LianGuaiNews will take stock of Israeli Web3 projects that have issued tokens, covering various fields such as Layer2, DeFi, Layer1, NFT, and games. Among them, StarkWare has a valuation of up to 8 billion U.S. dollars.

Infrastructure

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Layer2 developer StarkWare (STARK, not yet launched)

StarkWare, an Ethereum Layer2 developer headquartered in Netanya, Israel, was co-founded by Eli Ben-Sasson, a professor at the Israel Institute of Technology, in 2018. It provides STARK-based zero-knowledge proof technology to improve the scalability, security, and privacy of blockchain. StarkWare has developed two Ethereum scalability solutions based on STARK: StarkEx and StarkNet.

In September of this year, StarkWare announced the token economic model of StarkNet. The maximum supply of STRK is 10 billion, with 7% allocated to investors, 32.9% allocated to core contributors, and 50.1% donated to the foundation by StarkWare. Among them, 8.1% of the tokens have not yet been determined for use, and the specific method will be decided by the community. According to the latest news, STRK may have its first unlock on November 29. After a new round of large-scale conflict between Palestine and Israel, community members inquired about the safety of the project and asked about token airdrops.

So far, StarkWare has raised a cumulative total of 273 million U.S. dollars in 7 rounds of financing, with a valuation of 8 billion U.S. dollars. In January 2018, StarkWare completed a $6 million seed round of financing, with participation from Ethereum founder Vitalik Buterin, LianGuaintera Capital, LianGuairadigm, and Naval Ravikant; In July of the same year, StarkWare received a $12 million grant from the Ethereum Foundation; In October of the same year, StarkWare completed a $30 million Series A financing led by Intel and participated by Sequoia Capital, etc.; In March 2021, StarkWare completed a $75 million Series B financing led by LianGuairadigm, and completed a $50 million Series C financing led by Sequoia Capital in November of the same year, with other investors including LianGuairadigm, Alameda Research, and Three Arrows Capital; In May 2022, StarkWare completed a $100 million Series D financing led by Greenoaks Capital and Coatue, with participation from Tiger Global, etc.

Blockchain IaaS Platform Orbs (ORBS)

Current Market Capitalization: $81.946 million

Orbs is an Israeli blockchain IaaS platform that provides infrastructure for large-scale applications. The product is positioned as an “independent execution layer between Layer1/Layer2 solutions and the application layer,” with a focus on building decentralized public platforms to help the software application industry transform through blockchain technology.

Daniel Peled, the President of Orbs, is the co-founder and CEO of LianGuaiyKey, an Israeli fintech startup. He is also a senior member of the Israeli Bitcoin community. Uriel Peled, a partner of Orbs, was the former head of Mellanox, an Israeli high-tech company, and the founder of VR startup Visualead, which was acquired by Alibaba. In May 2018, Orbs announced a $118 million financing round with participation from 21M Capital, Kakao Ventures, Nexus One, and others. In March of this year, Orbs announced plans to raise $10 million from venture capital firm DWF Labs.

Cryptocurrency Payment Infrastructure Fuse (FUSE)

Current Market Capitalization: $9.192 million

Fuse is a mobile-centric, Ethereum-based cryptocurrency payment infrastructure that provides fast and powerful plug-and-play solutions at a low cost. It also offers a platform for stablecoin issuance and management. To address scalability issues of public chains, Fuse Network has launched the Flutter Layer 2 Payments (FL2P) scaling solution, which is also an SDK that allows developers to directly integrate ZK rollups into mobile cryptocurrency wallet software. As of October 10th, the Fuse official website shows that it has completed over 128 million transactions with over 100 ecosystem partners. In addition, Mark Smargon, CEO of Fuse, co-founded Israel’s first Bitcoin exchange.

In May 2022, Fuse completed a $5 million financing round, with investors including Aleph, Black Edge Capital, Blockchain Founders Fund, Collider Ventures, and Tectona Digital Assets.

DApp Application Platform ChromaWay (CHR)

Current Circulating Supply: $51.842 million

Chromia is an innovative cross-functional blockchain platform created by Swedish company Chromaway. It provides developers with an easy-to-use scenario for scalable decentralized applications (dApps). The team is distributed in Israel, Sweden, and Ukraine. In January 2022, ChromaWay announced a $10 million financing round with participation from CSP DAO, GEM Capital, Insignius Capital, MiH Ventures, and others.

Layer1 Privacy Public Chain Secret Network (SCRT)

Current Market Capitalization: $53.751 million

Secret Network is a privacy-focused smart contract public chain built on the Cosmos technology architecture. It is also the first blockchain with privacy-protecting smart contracts, originating from a project called Enigma at MIT.

In 2017, Secret Network raised $45 million through an ICO. In 2021, Secret Network completed a $11.5 million seed round led by Arrington Capital and Blocktower Capital. In early 2022, Secret Network announced a $400 million ecosystem fund, with investors including DeFiance Capital, Alameda Research, CoinFund, and HashKey.

SLianGuaicemesh (SMH) – A Time-Space Consensus Protocol Public Chain (Not yet launched)

SLianGuaicemesh, based in Israel, is a fair and distributed blockmesh operating system supported by a unique time-space consensus protocol. It aims to achieve a highly decentralized, high-throughput, and secure blockchain network. In July 2023, SLianGuaicemesh announced that its mainnet had been launched and was operational. After the mainnet launch, any user with a standard consumer-grade PC can mine and earn Smesh coin. It should be noted that SLianGuaicemesh has not yet been listed on mainstream exchanges.

In May 2018, SLianGuaicemesh announced a $3 million seed round investment from iAngels, SinoLianGuaic Bancorp, BRM Capital, and others. In September of the same year, SLianGuaicemesh completed a $15 million Series A funding round led by Polychain, with participation from MetaStable, LianGuairadigm, Coinbase Ventures, Bain Capital, and 1kx. In December 2021, SLianGuaicemesh received an additional $4 million in new funding, with investors including Leland Ventures.

Privacy project Beam (BEAM)

Current circulating market cap: $3.723 million

Beam is a privacy coin project based on the MimbleWimble protocol. Unlike Monero, Zcash, and others, MimbleWimble coins enforce privacy at the protocol level rather than adding layers on top of the underlying blockchain to achieve privacy.

In February 2019, Beam completed a $5 million financing round with strategic partners from Recruit. In May 2021, Beam raised $2 million in funding with participation from Collider Ventures, Altonomy, LionsChain, and Alternity Capital, among others.

DeFi DEX Bancor (BNT)

Current circulating market cap: $76.267 million

Bancor was launched by the Bprotocol Foundation in 2017. The foundation was founded by a group of Israelis with Silicon Valley entrepreneurship background, headquartered in Zug, Switzerland, and operates a research and development center in Tel Aviv, Israel. In June 2017, Bancor raised $153 million worth of ETH through an ICO.

Bancor is a DEX built on Ethereum that allows the creation of liquidity pools for asset trading. It consists of smart contracts that execute algorithmic token trading and on-chain liquidity poolization. Bancor was also the first project to adopt AMM, but its own development was surpassed by later projects like Uniswap due to centralization and security issues. According to DefiLlama data, as of October 10th, Bancor’s total value locked (TVL) is approximately $68.6 million, a decrease of about 97.2% from its peak of $2.4 billion.

Blockchain Service Tool Dot Finance (PINK, not yet launched)

Dot Finance was originally a decentralized finance (DeFi) protocol based on BSC. In January 2022, it announced its migration to the Polkadot parallel chain Moonbeam, which provides users with access to a wide range of smart contract services. These tools are built on the fast, secure, and scalable Polkadot platform, including various on-chain services. PINK has not yet been listed on mainstream exchanges.

Liquidity Protocol B.Protocol (BPRO)

Current circulating market cap: $3.027 million

B.Protocol is a liquidity support protocol designed to better handle liquidations on DeFi lending platforms, allowing the DeFi ecosystem to expand safely and stably to the level of CeFi. Its creator, Yaron Velner, was previously the CTO of Kyber Network and a co-designer of the WBTC protocol.

In December 2021, B.Protocol announced the completion of a $2.2 million seed round led by 1kx, with follow-on investments from Robot Ventures, SLianGuairtan Group, Primitive Ventures, and Angel DAO.

DeFi platform Voltage Finance (VOLT)

Current circulating market cap: $0.307 million

Voltage Finance is a decentralized finance platform based on the Fuse network, established in 2019. The platform launched the Voltage DAO and Volt (VOLT) governance token. In February 2022, Voltage Finance raised $3.4 million in funding, with investors including SLianGuairk Capital, TRGC, Collider Ventures, GBV Capital, and Tectona. However, a month later, Voltage Finance suffered a hack resulting in approximately $4 million being stolen.

OtherWeb3 Education Platform Open Campus (EDU)

Current circulating market cap: $77.142 million

Open Campus is the Web3 version of the education platform TinyTap. TinyTap is a technology startup headquartered in Tel Aviv, Israel, specializing in user-generated content (UGC). It was acquired by venture capital firm Animoca Brands in June 2022.

Open Campus is a Web3 education protocol platform that combines blockchain technology. Its goal is to create a more fair and inclusive ecosystem for learners, educators, content creators, and provide them with more avenues for resource access, new compensation opportunities, and true ownership of educational content. It aims to shape a new educational paradigm defined by the community. Open Campus is the 31st Launchpad project of Binance and raised $6 million in a private token sale in 2022.

Cryptocurrency Exchange INX Limited (INX)

Current circulating supply: $62.20 million

INX Limited is a privately held Israeli company registered in Gibraltar, established in 2017. In 2019, INX Limited planned to raise $129.5 million through an IPO, which would be the first security token offering registered with the U.S. Securities and Exchange Commission (SEC).

P2E Game Kryptomon (KMON)

Current Circulating Market Cap: $5.402 million

Kryptomon is a P2E game that combines NFTs. Inspired by classic games like Pokemon and Tamagotchi, players can use the “Full Moon Treasure Hunt” game to find and mint NFTs onto the blockchain in the real world. Kryptomon has set two sales records for NFT blind boxes on the Binance platform and achieved a value of $13 million in on-chain NFT transactions within 5 months.

In August 2021, Kryptomon raised approximately $1.2 million through an ICO. In May 2022, Kryptomon announced a $10 million financing round led by NFX, with other investors including PLAYSTUDIOS, Griffin Gaming LianGuairtners, Tal Ventures, and former CEO of Citigroup, Vikram LianGuaindit.

NFT Platform NFTrade (NFTD)

Current Circulating Market Cap: $0.582 million

Established in 2021, NFTrade is headquartered in Tel Aviv, Israel. It is a decentralized cross-chain NFT platform that allows anyone to easily create, buy, sell, trade, and earn NFTs, creating a one-stop shop for all NFT-based operations.

In September 2021, NFTrade completed a $3.7 million seed round with participation from SLianGuairkPoint, Magnus Capital, AU21 Capital, and Autonomy Capital. In March 2022, BNB Chain Fund announced the strategic acquisition of NFTrade’s utility and governance token, NFTD.

Decentralized App Store Magic Square (SQR, not yet launched)

Magic Square is a multi-chain, community-driven decentralized app store that combines the functionality of Web2 app stores with Web3’s DAO mechanism. Through the community’s review mechanism, it helps users easily access high-quality crypto products, including various applications, CeFi and DeFi, NFTs, games, and other services.

In February 2021, Magic Square completed a $1 million Pre-Seed financing. In July 2022, Magic Square completed a $3 million seed round led by Binance Labs and Republic, with participation from KuCoin Labs, GSR, IQ Protocol, Gravity Ventures, and Alpha Grep. In September of the same year, it raised $1 million at a valuation of $74 million.

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