50m series polychain hack vc

50m series polychain hack vc

We look forward to deepening our collaboration with AscendEX by providing insights into evolving industry trends and providing guidance on top-tier projects to list on the exchange.”

AscendEX uniquely provides dedicated auxiliary support for blockchain projects seeking to list on the platform, including consultation on the token economic design, secondary market liquidity strategies, staking support, liquidity mining, as well as global marketing support and translation services. These supporting services further differentiate AscendEX’s IEO process from other mainstream exchanges, and in turn, allow listings to achieve industry leading results.

“In an extremely competitive crypto exchange landscape, AscendEX has impressively emerged as the leading venue for innovative crypto projects in DeFi, GameFi and crypto infrastructure,” said Saurabh Sharma, Partner at Jump Capital.


Over 14 years as general partner and managing director at Bay Partners and Bain Capital, Salil invested $350M+ into 50+ companies early. Additionally, Salil was on the Forbes Midas List of the 100 best-performing venture investors worldwide in 2013 – 2019, and Business Insider’s inaugural Seed-100 list of the 100 best-performing seed investors in 2021.

About Eterna Capital Eterna Capital is a UK-based venture capital fund focused on backing bold, innovative teams that harness the power of blockchain.
Launched in March of 2018, Eterna has invested in numerous high profile deals and is committed to helping entrepreneurs reach their ambitious goals by providing unique insights and support.

About Acheron Trading Acheron Trading is a designated market maker building liquid markets for digital assets.

AscendEX as a customer and market maker, and we’re thrilled to keep expanding our relationship in new ways with this investment.”

“AscendEX is a leader in transitioning crypto projects from primary to secondary markets, as seen through the continued success of the tokens listed on the exchange,” said Olaf Carlson-Wee, Founder & CEO at Polychain Capital. “We look forward to deepening our collaboration with AscendEX by providing insights into evolving industry trends and providing guidance on top-tier projects to list on the exchange.”

AscendEX uniquely provides dedicated auxiliary support for blockchain projects seeking to list on the platform, including consultation on the token economic design, secondary market liquidity strategies, staking support, liquidity mining, as well as global marketing support and translation services.

DeFi native money markets often “double count” liquidity. Take the example below that was described by CoinMetrics:

  • A user deposits $1,500 worth of Wrapped Ether (WETH) into Maker to get a loan in the form of $1,000 worth of DAI (150% collateralization ratio).
  • The user then deposits this newly minted DAI, as well as another $1,000 worth of USDC in the Uniswap V2 USDC-DAI pool.
    In return, the user gets Liquidity Provider (LP) tokens representing that $2,000 stake of that pool’s liquidity.
  • The user can then redeposit these LP tokens into Maker to get another loan of $1,960 of DAI (102% collateralization ratio)

-Source:https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-0c0

Put simply, the flexible nature of most DeFi applications enables assets to be easily rehypothecated and double-counted as TVL in multiple protocols.

DeFi yield farming for retail investors.”

Alex Pack at Hack VC added, “The concept of extracting more value from the crypto held in your wallet has become immensely popular with decentralized lending and yield farming protocol – AscendEX has further expanded on this by cross-collateralizing their wallets with validator nodes, allowing users to trade while earning. No other exchange is offering this degree of flexibility for users to earn and participate in blockchain governance while also trading on leverage.”

To learn more about AscendEX, please visit AscendEX.com

About AscendEX

AscendEX is a global cryptocurrency financial platform servicing more than one million institutional and retail traders with the resources needed to obtain more value from their crypto investments.

About Hack VC Hack VC is a private equity firm based in Incline Village, Nevada.

About Alameda Research Alameda Research was founded in October 2017. We manage over $1 billion in digital assets and trade $1-10 billion per day across thousands of products: all major coins and altcoins, as well as their derivatives.

We have a full-scale global operation with the ability to trade on all major exchanges and markets.

About Jump Capital Jump Capital is a leading venture fund investing in Crypto and Fintech globally.

About Uncorrelated Ventures Uncorrelated Ventures was founded by Salil Deshpande with Bain’s backing to focus on open source and infrastructure software, both traditional and decentralized.

Despite this, there remains a lack of infrastructure and interoperability solutions, and much progress is to be made on this front in order to prevent the fragmentation of these various ecosystems. Positioned as a chain agnostic organization, AscendEX has continued to support many different L1s and ecosystems as this multichain world plays out in real-time.

(Link to graphic —https://defillama.com/chains, labels/keys can be found dynamically on the website)

The Liquidity Wars While interoperability will help integrate the multichain world into something that works more seamlessly, the fact remains that various L1s and dApps are still fundamentally competing for the attention and assets of users, developers and investors, and while a rising tide lifts all boats, not all competition is necessarily positive-sum.

About Hack VC

Hack VC is a private equity firm based in Incline Village, Nevada.

About Alameda Research

Alameda Research was founded in October 2017. We manage over USD 1 billion in digital assets and trade USD 1-10 billion per day across thousands of products: all major coins and altcoins, as well as their derivatives.
We have a full-scale global operation with the ability to trade on all major exchanges and markets.

About Jump Capital

Jump Capital is a leading venture fund investing in Crypto and Fintech globally.

About Uncorrelated Ventures

Uncorrelated Ventures was founded by Salil Deshpande with Bain’s backing to focus on open source and infrastructure software, both traditional and decentralized.

No other exchange is offering this degree of flexibility for users to earn and participate in blockchain governance while also trading on leverage.”

To learn more about AscendEX, please visit AscendEX.com.

About AscendEX

AscendEX is a global cryptocurrency financial platform servicing more than one million institutional and retail traders with the resources needed to obtain more value from their crypto investments. Operating at the nexus of centralized finance and decentralized finance, AscendEX’s platform features access to futures and spot trading, a robust wallet infrastructure, and staking support for over 200 industry-leading blockchain projects, all producing industry leading yields and returns, further driving the growth of the crypto ecosystem.

No other exchange is offering this degree of flexibility for users to earn and participate in blockchain governance while also trading on leverage.”

To learn more about AscendEX, please visit AscendEX.com.

About AscendEX AscendEX is a global cryptocurrency financial platform servicing more than one million institutional and retail traders with the resources needed to obtain more value from their crypto investments. Operating at the nexus of centralized finance and decentralized finance, AscendEX’s platform features access to futures and spot trading, a robust wallet infrastructure, and staking support for over 200 industry-leading blockchain projects, all producing industry leading yields and returns, further driving the growth of the crypto ecosystem.

We are thrilled to collaborate with our new investors to further solidify our unique competitive advantages.”

Sam Trabucco, Co-CEO of Alameda Research, added, “Alameda has had nothing but great experiences working with AscendEX as a customer and market maker, and we’re thrilled to keep expanding our relationship in new ways with this investment.”

“AscendEX is a leader in transitioning crypto projects from primary to secondary markets, as seen through the continued success of the tokens listed on the exchange,” said Olaf Carlson-Wee, Founder & CEO at Polychain Capital.

Leave a Reply

Your email address will not be published.