Discover more from Chainforest
Chainforest Weekly Recap (09/01/23)
Greetings Rainmakers! ⛓️🌴
Welcome to the latest edition of the Chainforest Weekly Recap, where you’ll find up-to-date information on upcoming Chainforest DAO programming and industry events, the community feature of the month, a round-up of the most exciting happenings in our Discord this week, and a welcome to our new Rainmaker’s!
The top three channels were: 💬│general-chat, 📶│jobs-in-crypto, and 🔗│links.
Discord Highlights 👀
⚖️ Regulatory: Grayscale has achieved a significant legal victory against the SEC, with a federal court ruling that the SEC must review its rejection of Grayscale's bid to convert the Grayscale Bitcoin Trust into an ETF. This development is seen as potentially paving the way for the approval of spot Bitcoin ETFs and may increase the likelihood of the SEC approving current ETF applications collectively
📱 Social: Friend.tech witnessed a swift surge followed by a decline in user engagement and trading volumes. Despite generating more than $4.2 million in ether fees for creators, the platform's transactional activity plummeted by 95%, dropping from its peak of $16 million on August 21 to approximately $700,000
⚖️ Regulatory: In a recent podcast episode of The Chopping Block, Coinbase's Chief Legal Officer Paul Grewal discusses the aggressive stance of the SEC towards the crypto industry. Grewal delves into the SEC's motivations and concerns, highlighting the need for regulatory clarity and collaboration to ensure a balanced and productive regulatory environment for cryptocurrencies. Check out the full interview here!
💵 Finance: Binance has announced its intention to progressively discontinue backing for the BUSD stablecoin, removing it from both spot and margin trading pairs. Users are advised to convert their BUSD holdings into alternative assets before February of the upcoming year. This action corresponds with Paxos' suspension of BUSD minting and Binance's ongoing legal conflicts, which involve a CFTC lawsuit related to unregistered cryptocurrency derivatives and a confidential SEC motion, suggesting possible further legal challenges
🎮 Gaming: As Netflix delves into gaming, its journey has undergone strategic evolution despite initial hurdles. Through acquisitions, mobile game launches, and interactive content, the streaming giant has gradually built its gaming presence. Testing cloud-based game streaming for select subscribers in Canada and the U.K., Netflix aims to capture attention in the gaming landscape, aligning with its broader strategy. For further insights on why this shift makes sense for Netflix, check out the full article by Max Lowenthal
🔥 Crypto: Coinbase CEO Brian Armstrong has shared his enthusiasm for ten crypto-related ideas he is most enthusiastic about. These include decentralized identity protocols, the "creator economy" driven by NFTs, and DAOs. He also expressed interest in the potential of cryptocurrencies to enable greater financial inclusion and empower individuals globally. Check out Brian Armstrong’s Top 10 Crypto Ideas here!
💵 Finance: MoonPay has announced a venture arm to fund projects in Web3 infrastructure, gaming, and fintech. The company plans to back initiatives and startups that share its vision of making crypto accessible and driving the widespread use of blockchain technology
🤝 Interested in viewing or sharing deal flow with the Chainforest community? Members can also earn $RAINDROP token along the way!
One new deal was shared with the community last week! Access our Deal Flow tool here!
The deal flow tool allows you to:
Share new deals
Comment and ask questions
Search past deals using our filtering system
Ways Rainmaker’s can earn $RAINDROP token:
Source a deal that Chainforest invests in
Aid in the due diligence process for a Chainforest investment
Support a Chainforest portfolio company
What kinds of deals does Chainforest invest in?
Check out our Investment Framework here!
Chainforest DAO Network (Open Roles) 💼
Associate (Pender Ventures - Full Time): Pender Ventures is seeking an Associate to join them in Q1 2024 to represent their team in the province of Alberta. The Associate will support their investment team across the full lifecycle of the investing process, from sourcing and diligence through portfolio support and reporting
Investment Associate (M13 - Full-Time): M13 is looking for an investment associate to join their team in Los Angeles. This is an exciting opportunity to work directly with their Principals and Partners and touch on all aspects of the investment process, from sourcing to diligence, deal execution, and portfolio management
Program Operations Manager (First Round Capital - Full-Time): First Round Capital is looking for a Program Operations Manager who can help them manage the operations behind their marquee Tracks. Tracks are programs created for talented builders and investors. The aim of each Track is to help people develop fresh skills and form deep, new relationships
Upcoming Events 🗓️
Korea Blockchain Week: KBW2023 brings together the brightest minds in the industry to discuss, redefine, and celebrate the future of finance. The action-packed crypto and blockchain gala features keynote speeches by industry heavyweights, panel discussions by world-renowned experts, and networking opportunities for investors and crypto enthusiasts
When: September 4-10, 2023, Seoul, South Korea
Token2049 (Singapore): TOKEN2049 brings together the global crypto industry, uniting entrepreneurs, investors, developers, industry enthusiasts and global media - and creates unparalleled networking opportunities. This is the community that will define what’s next in the space
When: September 13-14, 2023, Singapore (Marina Bay Sands)
NY Tech Week - a16z presents Tech Week 2023! Join us for tech weeks in LA this year to create IRL connections across the major tech hubs
When: Oct 16-22, 2023, New York, NY
Interested in joining Chainforest? ⛓️🌴
How to apply: You can apply to become a member by completing our application on Typeform. We will review your submission and grant access after approving your profile. Apply here!
What is Chainforest?
Chainforest's mission is to build the most powerful ecosystem in the world leveraging an exceptional community of leaders to build, grow, and invest together to create the future of web3. We leverage the collective power of the Chainforest community to create incredible value for our Rainmakers, the ecosystem, and our LPs and other partners. The outsized performance will create a flywheel effect, allowing us to build an enviable ecosystem that attracts, develops, and inspires high-caliber talent to be their best selves and to make the future of Web3 collectively
Learn more about our DAO structure here!
Benefits of being a Rainmaker:
Exclusive Content: Access Town Hall AMAs, Workshops, IRL Events, Discord Discussions & Games, and Women in the Forest meet-ups! Expand your knowledge, network with experts, & enjoy the vibrant community
Rainmakers also have the opportunity to support Chainforest's VC fund. Rainmakers have the opportunity to earn $RAINDROP, our token backed by carry in our VC fund, in exchange for:
Sourcing a deal that Chainforest invests in
Aid in the diligence process for a Chainforest investment
Support a Chainforest portfolio company
Help Chainforest as an organization (e.g., take a part-time role with the community, design an NFT collection for the community
Note: Rainmakers are not required to invest in order to participate, but also do not have a vote on investment decisions
Deal Flow: Unlock the Chainforest x @proofofteamwork Deal Flow tool! Share deals, engage in discussions, ask questions, search prior deals, & earn $RAINDROP token by sourcing deals CF invests in, aiding in the due diligence for a CF investment, or supporting CF portfolio companies
Member Directory: Discover the invaluable Chainforest x @proofofteamworkdirectory: Strengthen bonds, explore business prospects, amplify deal flow, and unlock hiring opportunities. Search by location to connect Rainmaker's locally & also connect with Women in The Forest
Earn TEAM points: Earn valuable TEAM points as a Rainmaker by actively contributing to our community through discussions, content interaction, and sharing deal flow. Climb the leaderboard, unlock prizes, and make a rewarding impact in the Chainforest community
I hope you enjoyed this week’s edition of the Chainforest Weekly Recap!
Till next week,
Thanks for reading Chainforest! Subscribe for free to receive new posts and support my work.