Lemniscap

We're thrilled to announce the launch of our new $70M fund to support early-stage Web3 projects tackling pre-trend narratives & up-and-coming markets. We're proud to partner with Accolade Partners as the anchor of our fund and are looking forward to working with their team to power a decentralised & transparent future together. The new fund will focus on a wide array of opportunities across the blockchain space, with some of the key verticals including Zero Knowledge Infrastructure, Consumer Applications, the emerging Bitcoin Ecosystem, Security, Phygital & DePin. We believe in fostering Web3 innovation at the grassroots level and are eager to support visionary founders who share our vision to build a robust & resilient decentralised ecosystem. By working closely with our portfolio companies, we develop a nuanced understanding of their needs. We are committed to providing hands-on guidance and leveraging our extensive network of industry experts and partners to empower emerging protocols and platforms to scale As a first-cheque VC, we would love to hear from you if you are innovating in the blockchain space! Feel free to contact our investment team Roderik van der Graaf, Shaishav Todi, Nicola Santoni, Sjors Witteveen, Griša Č. or reach out to us by email. Check out the full story by Yogita K. in The Block today: https://lnkd.in/dZ-NmnM7

Ethereum is evolving. In our latest report, Hiroki Kotabe, PhD explores: • What Ethereum and its ecosystem could look like by 2030 • Which protocol upgrades will drive rollups to converge around “Alignment” vs. “Performance” archetypes • Heuristics for rollup classification along these spectrums • Scaling the base layer to make the whole Ethereum economy more attractive • How Ethereum can fulfill fulfill its vision to become the world ledger “Ethereum aims to be the world ledger: the platform that stores civilization's assets and records, the base layer for finance, governance, high-value data authentication, and more. This requires two things: scalability and resilience.” – Vitalik Buterin Read the full report: https://lnkd.in/eQYe-jDH

Dexari is our bet on the continued growth of Perps + Hyperliquid + Mobile. Just ~2 yrs ago: • Perps accounted for ~50% of total trading volumes compared to 80-90% today • Hyperliquid had ~4% of Binance’s OI compared to 28% today • Mobile wallet users at ~18m compared to 36m today Read more on Paragraph: https://lnkd.in/eSvZgmUi

We are delighted to co-lead the $2.3M seed round for self-custodial crypto wallet & trading app Dexari alongside Prelude. Powered by Hyperliquid, Dexari is providing seamless access to decentralized trading with a user-centric mobile app, making it easier for users to engage with #DeFi & explore the crypto space with confidence. Amid the white-hot crypto bull market, Dexari offers a frictionless mobile trading experience that keeps custody in users’ hands while removing the technical friction often associated with DeFi tools. Looking ahead, tools like Dexari will be invaluable in making DeFi more accessible to a broader audience, offering a seamless onboarding experience & simple interface for new market entrants looking to segway into the crypto domain. We’re firmly behind the team’s mission to uphold the principles of decentralization, self-sovereignty & financial inclusivity, & we encourage users to check out Dexari on the App Store & Play Store.

Quantum computing is both an existential risk and catalyst for crypto. In our latest report, Hiroki Kotabe, PhD explores: • when and how quantum attacks could break elliptic-curve digital signatures (your keys, their coins) • defense measures such as post-quantum cryptography, key migration, and quantum-resistant wallets • acceleration avenues including quantum key distribution (QKD), quantum random number generators (QRNGs), quantum DePIN, and quantum-native cryptography. Read the full report: https://lnkd.in/duBTRQQP

Solana’s emerging modular ecosystem is important for future-proofing Solana, Hiroki Kotabe, PhD explores: • Different modular architectures powering Solana L2s and network extensions (NEs) • Design considerations for builders and tradeoffs between composability and performance • Hybrid approaches that scale in parallel without breaking atomic composability • Specific use cases Solana L1 is not suitable for • Differences between Solana’s and Ethereum’s horizontal scaling direction • Why people and community matter in realizing this vision Read the full report: https://lnkd.in/eHGSGQqA

We’re pleased to announce our role as lead investor in the $2.5M seed round for DeCharge Network, which is building the future of EV charging with a decentralized, AI-powered energy network. DeCharge is addressing the pressing demand for high-performance, accessible charging solutions for the rapidly expanding electric vehicle economy. Today, 33 EVs are competing for a single charger, & as autonomous drones & robotic delivery vehicles continue to enter the playing field, this discrepancy cannot persist. With EV adoption rates soaring year-on-year, DeCharge is now at the vanguard of innovation when it comes to delivering a more sustainable & efficient EV charging network. We are thrilled to support the team in expanding to 3,000+ locations across the U.S., Europe, Middle East, & emerging markets, making EV charging autonomous, intelligent, & accessible.

Inspired by Tether's recent announcement of issuing USDT as a Taproot Asset on Bitcoin, Hiroki Kotabe, PhD explores: • Bitcoin’s evolution into a multi-asset platform via Taproot Assets and Lightning • Features of Taproot Assets that make it a strong competitor in the tokenization market • How Lighting facilitates fast, low-cost asset transfers and atomic swaps, all routed in BTC • A comparison of Bitcoin as a tokenization platform with other blockchains and traditional payment systems Read the full report: https://lnkd.in/eR7pr5DN

We're thrilled to have led the $2.3M seed round for Memes Lab – a platform that is innovating at the intersection of #SocialFi & #memecoins. Memes Lab's is developing a unified platform for the creation, trading & distribution of memecoins. Built on TON Foundation, Memes Lab has emerged at a critical juncture in the development of the memecoin space, with plans to expand to other chains in the near future. Meme culture continues to be a powder keg of virality and engagement in the wider crypto market, & Memes Lab is uniquely positioned to showcase the power of memecoins as a strong instrument for blockchains & ecosystems to boost metrics across the board. We look forward to supporting the team in driving sustainable growth of the memecoin vertical. Check out the full announcement covered by The Block here: https://lnkd.in/e3nY7jKG

We are starting to see the beginnings of AI-driven NLIs transforming crypto’s UX. Instead of navigating across complicated GUIs and fragmented workflows, users can interact through unified conversational interfaces. Full article here: https://lnkd.in/eF9BG_gM At the core are Autonomous Linguistic Financial Agents (ALFAs). They combine data synthesis, adaptive modeling, real-time inference, and action orchestration to surface insights and automate DeFi tasks in seconds instead of hours. ALFA development is progressing across three stages: 1. Search: Aggregating data analysis to surface actionable insights 2. Intelligence: Automating complex DeFi tasks in real time 3. Alpha: Competing on discovering alpha and execution This could be crypto’s “ChatGPT moment,” but progress depends on how reliable these agents deliver value. If they can outperform the average user on tasks like yield farming, there could dramatically lower barriers and present a big market opportunity. This is particularly true for alpha agents - if they provide a real edge, billions could flow into the ecosystem. High demand for access can drive steep access fees and incentivize entirely new software, hardware, and data markets to power them. Solving for scaling and verification are important. Handling massive query requests and preventing manipulations require better infrastructure than what we see today. Demonstrable performance will be important for users to trust ALFAs in higher stakes environments. The end game is to make crypto 100x easier. Less complexity, more technological empowerment. Less grunt work, more execution. We are eager to watch this space mature to see if ALFAs can deliver on that promise. If you're building in these spaces, we'd love to hear from you! Feel free to DM the Lemniscap team Roderik van der Graaf Shaishav Todi Nicola Santoni Sjors Witteveen Griša Č. Hiroki Kotabe, PhD or reach out to us by email. Lastly, thank you to Michael H at Almanak, Matteo D'andreta🐺 & Paolo Rollo at BrianknowsAI, Levi Rybalov at CoopHive, Tim Cotten at Scrypted Inc, the Theoriq team, Efren Plasencia at Griffain, Jumanji at Nof1 and last but not least Filip Dousek for your review and feedback!