What projects has dao5, founded by a former Polychain partner, invested in, as part of their plan to co-build a venture capital DAO with the founder?

What projects has dao5 invested in as part of their plan to co-build a venture capital DAO with their founder, a former Polychain partner?

Goal to complete DAO transformation by 2025

Tekin Salimi plans to develop dao5 into a decentralized autonomous organization. Currently, this plan is still in the early stages and is expected to be completed by approximately 2025. After the transition, management, operation, and investment affairs will be entirely governed by dao5 token holders. Contributors who successfully submit investment proposals to the future DAO will receive rewards corresponding to the project’s economic growth. The three-year transition period is intended to provide sufficient time to create an appropriate token economics and governance model for the DAO, increase participation, and ensure simplified incentive measures.

According to the plan, dao5 tokens will be minted and distributed to the investment team, advisory committee, and investment portfolio company founders, ensuring that they can directly share in the revenue generated by dao5. This collective benefit token grant will ensure that the project founders are incentivized and will enhance the economic links and cooperative relationships between projects in the dao5 investment portfolio. This collaborative model will not only serve as a form of risk diversification but also provide value to projects under the dao5 umbrella.

Focus on infrastructure investment

Dao5, which was established a year and a half ago, has not been very active in terms of investments and has participated in early financing for 14 crypto projects. Looking at the invested projects, they focus on the DeFi and infrastructure sectors, as well as data, privacy, and social fields. In addition, five investments, including Layer1 public chain Berachain and Web3 infrastructure startup Polyhedra Network, were led by Salimi’s former employer, Polychain Capital.

Below is a brief introduction to dao5’s investment projects (if dao5 is a co-investor in the financing, it will not be listed):

DeFi:

  • EigenLayer: A re-staking protocol built on Ethereum. EigenLabs’ team behind it raised $14.5 million in seed funding led by Polychain Capital and Ethereal Ventures, and in March of this year, it completed a $50 million Series A funding round led by Blockchain Capital with participation from Coinbase Ventures.

  • Tonic: A NEAR ecosystem DEX protocol. Its $5 million funding round was led by Electric Capital and MOVE Capital, with participation from Framework Ventures and market makers GSR, Wintermute, and Flow Traders. Tonic is building a decentralized protocol for fast, frictionless trading of any asset on NEAR and Aurora.

  • AlloyX: A DeFi protocol that raised $2 million in pre-seed funding, led by Hack VC and with participation from Circle Ventures. AlloyX’s vault combines Credix Finance’s over-collateralized tokenized credit (digitally tokenized assets backed by real-world assets such as loans or debt instruments) with smart contracts for tokenized US Treasuries, offering DeFi investors opportunities for real-world asset liquidity.

  • Block Green: A lending protocol aimed at achieving Bitcoin collateral. Block Green raised $3.7 million in seed funding led by Peter Thiel’s Founders Fund, with participation from Coinbase Ventures. Block Green allows Bitcoin miners to use their future Bitcoin production as collateral by borrowing their hash power.

Infrastructure & Tools

  • Berachain: Layer1 public chain that raised $42 million in a private token sale led by Polychain Capital, with participation from OKX Ventures and Shima Capital. The Berachain network is built on the Cosmos SDK and will be EVM compatible. Berachain is currently offered as a development network (devnet) and may release its mainnet later this year.

  • Story Protocol: Web3 startup that raised $29.3 million in a seed round led by a16z Crypto, with participation from Hashed and Samsung Next Fund. Story Protocol offers a way to create, manage, and license intellectual property on-chain, forming a Lego-like ecosystem of stories that can be remixed and combined, allowing creators to create stories with ownership and incentives.

  • Lens Protocol: Web3 social graph protocol that completed a $15 million funding led by IDEO CoLab Ventures, with participation from Blockchain Capital, Uniswap CEO Hayden Adams, and Polygon co-founder Sandeep Nailwal. Built by Aave, the protocol allows users to lend and borrow crypto tokens from each other.

  • SBlockingCE ID: Decentralized domain name protocol that raised $10 million in strategic funding led by Polychain Capital and dao5. SBlockingCE ID previously raised seed funding led by Binance Labs and launched a .bnb domain name service.

  • Axelar: Blockchain interoperability network that raised $60 million in ecosystem launch funding backed by over 15 blockchain investors including Dragonfly Capital, aiming to accelerate the development of decentralized applications and protocols that can replace centralized exchanges.

  • Bitquery: Blockchain data company that raised an $8.5 million seed round led by Binance Labs and dao5, providing a suite of software products to parse, index, and store blockchain data in a unified way.

  • Sunscreen: Web3 privacy startup founded by Ravital Solomon and NuCypher co-founder MacLane Wilkison, raised $4.65 million in seed funding led by Polychain Capital. Sunscreen aims to enhance the privacy potential of Web3 using Fully Homomorphic Encryption (FHE) technology, which allows individuals to perform computations on encrypted data without needing to decrypt it.

  • Cubist: Web3 development tool provider that raised $7 million in a seed round led by Polychain Capital, with participation from Polygon, Amplify Partners, and Axelar.

  • Polyhedra Network: Web3 infrastructure startup that raised $10 million in a round led by Binance Labs and Polychain Capital, with participation from Animoca Brands. Polyhedra has developed various infrastructure products using zero-knowledge (ZK) proof technology, including a ZK bridge (zkBridge) solution for sending assets between Web2 and Web3 systems, a ZK decentralized identity solution (zkDID), and a scaling solution.

  • Hyper Oracle: ZK oracle network that raised $3 million in a seed round led by dao5 and Redpoint China Fund, with participation from Foresight Ventures and FutureMoney Group. Hyper Oracle is developing new indexing and automation protocols with the zkWASM virtual machine to address security, decentralization, computational integrity, and performance challenges in blockchain middleware.

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