In Silicon Valley, where high-tech companies gather, the “PayPal gang” has become a force that cannot be ignored. After being acquired by eBay in 2002, although most of PayPal’s early employees have “found another country”, they still maintain close relationship. The “PayPal gang” not only founded a number of Internet, new energy, venture capital and other companies, such as Youtube, Telsa, LinkedIn, etc., but also supported many start-ups to grow into world-renowned companies, including Meta (formerly Facebook), Airbnb, Uber, etc., It has provided important support for the vigorous development of Silicon Valley.
Similar to the “PayPal gang”, there are also “gangsters” in the crypto circle, such as the “Coinbase gang”, “FTX gang”, etc. With their strong network effects, the crypto projects they create are more accessible to institutions, developers and users If they are favored, the probability of success will be higher. For example, the recently popular “Facebook-based” public chains Aptos and Sui have received investment from top VCs in the circle, such as a16z and FTX Ventures. In addition to the above-mentioned organizations, this article, PANews, will introduce another “gangster organization” that is native to the cryptosphere-the Ethereum infrastructure development company ConsenSys.
ConsenSys is a leading software company focused on the Ethereum ecosystem. Its founder, Joseph Lubin, is one of the co-founders of Ethereum and also helped establish the non-profit Ethereum Foundation. In addition to providing development and consulting services, ConsenSys is also continuously developing its own products. The products currently under development include MetaMask wallet, Infura development kit, smart contract audit service Diligence, open source blockchain protocol Quorum, etc. Among them, MetaMask has become Web3 wallet with the largest number of users. In March 2022, ConsenSys completed a $450 million Series D financing at a valuation of $7 billion, led by ParaFi Capital, and participating institutions include Temasek, SoftBank Vision Fund Phase II, Microsoft, Anthos Capital, Sound Ventures, etc.
According to PANews statistics, the crypto projects involved in the “ConsenSys Department” cover many fields, including DeFi, DAO, NFT, storage, decentralized digital identity, venture capital, etc. Since the former employees of ConsenSys have been involved in many projects and companies, and at the same time, there is no lack of transformation and participation in Web2 enterprises, this article only selects well-known projects related to the encryption industry. This article draws on a profile of ConsenSys employees compiled by @FinanceYF3.
DeFi is one of the most important areas in the crypto industry, and the ConsenSys department also has a lot of participation, including many well-known DeFi protocols, such as the decentralized exchange SushiSwap and the fixed-rate protocol Element Finance, of which Element Finance was awarded in October 2021 by A $32 million Series A round led by Polychain Capital. In addition, former ConsenSys employeees founded the Atlendis Labs which developed the unsecured Defi 2.0 protocol Atlendis. ConsenSys is also involved in decentralized peer-to-peer trading platform AirSwap, derivatives trading platform DerivaDEX, Polkadot DeFi Alliance, poker platform Virtue Poker, etc.
Atlendis Protocol is an unsecured lending protocol developed by Atlendis Labs to solve the current low efficiency of over-collateralized funds. For borrowers (such as Dapp, DAO, etc.), Atlendis Protocol will first conduct a review, and only those who have obtained a whitelist are eligible to borrow. Secondly, lenders can customize the lending rate and borrowers, which will be more likely than traditional over-collateralized loans. Protocol for higher APR. Atlendis Protocol completed a $4.4 million seed round in December 2021, led by Lemniscap, with participation from ParaFi Capital, Tioga Capital, White Star Capital, DeFiance Capital, True Ventures, Digital Currency Group, Divergence Ventures, and more.
Compared with the DeFi and public chain fields, the ConsenSys system should not be underestimated in terms of infrastructure. For example, 3Box and Spruce have been created. Among them, 3Box is the core developer behind the decentralized database protocol Ceramic, which will complete 3000 in February 2022. The $10,000 Series A round was led by Multicoin Capital and Union Square Ventures, with participation from Jump Crypto, Animoca Brands, Coinbase Ventures, ConsenSys, and The LAO.
Spruce Systems is a digital identity authentication company focusing on decentralized identity (DID), aiming to allow users to own their own identities and realize identity interoperability. In November of this year, it raised $7.5 million, and investors include Alameda Research, Coinbase Ventures, etc. In addition, the infrastructure that ConsenSys is involved in also includes blockchain testing platform Weiteblock, enterprise blockchain solution service provider Kaleido, etc.
The two co-founders of Gitcoin, the most well-known early project funding and fundraising platform in the crypto circle, are both from ConsenSys. In addition, the ConsenSys department also founded Molecule, a fundraising platform focused on biotechnology research, and Widcards, a fundraising organization focused on protecting endangered animals. The crowdfunding platform WeiFund, of which Molecule completed a $13 million seed round in June 2022, was led by Northpond Ventures, with participation from Backed VC, Shine Capital, Speedinvest, and former Coinbase CTO Balaji Srinivasan.
Venture Capital & Hedge Funds
In addition to participating in the construction of specific encryption projects, ConsenSys has also stepped out of many venture capital and hedge fund founders to help encryption entrepreneurs from the financial level, including Delta Blockchain Fund, Accomplice VC, DARMA Capital, Moloch Ventures and hedge fund Bitcog LLC, the crypto projects invested by the above VCs include CoinList, Flow, Near, etc.
Delta Blockchain Fund was founded by Kavita Gupta, the former head of ConsenSys Ventures. At the first subscription, it attracted investment from founders such as Quantstamp, Polygon, Viraj Mehta of Rosy Blue, Klaus Hommels of Lakestar, etc. Currently, the crypto projects invested by the fund include Ethereum The second-layer extension protocol Nahmii, the liquidity protocol Taker for the NFT market, etc.
NFTs & Tools
In other areas of the crypto industry, ConsenSys is also “unwilling to lag behind”, such as the creation of the NFT trading platform SuperRare, which is an old-fashioned NFT comprehensive trading platform in the Ethereum ecosystem, aiming to provide a platform for crypto art lovers to communicate and collect. In the comprehensive trading platform OpenSea, SuperRare is more inclined to serve real, high-quality works of art. In addition to NFTs, the ConsenSys department is also involved in on-chain tools, such as Alethio, an on-chain data provision platform focused on the Ethereum ecosystem.
In addition to the above-mentioned members who have “self-supported”, ConsenSys has also contributed a lot of “blood” to other projects in the encryption industry, which can be called the “Whampoa Military Academy” in the encryption world. The entire crypto industry contributes. According to incomplete statistics, the fields of encryption that these former ConsenSys employees have moved to include public chains, infrastructure, DeFi, DAO, exchanges, venture capital institutions, media, etc., such as the new public chain Avalanche, the oracle Chainlink, the lending protocol Compound, Opolis, the employment cooperation platform for Web3 independent workers, the head exchange Coinbase, the well-known media The Block, etc.
Similar to the “PayPal gang” in promoting the development of Silicon Valley enterprises, the “Coinbase gang”, “FTX gang”, “Ethereum Foundation gang”, “ConsenSys gang” in the crypto circle have given corresponding help in talent training and funding. Technology and experience have been delivered in various fields, coupled with the strong network effect between “gangs”, which has promoted the overall development of the encryption industry to a certain extent.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/take-a-look-at-the-encrypted-world-map-of-the-consensys-gang/
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