Pinned
(New Essay) The Machinery of Modern Finance
On why I think the next ten years of financial innovation will surpass the prior fifty.
Give it a read.
brandonkumar.substack.com/p/the-machiner…
Brandon
3,401 posts
Brandon
@brandonkumar
cofounder of layer3, prev investor at accolade partners
- Crypto VC Funding 📈 2017: $1.3 billion 2018: $3.7 billion 2019: $2.7 billion 2020: $2.7 billion 2021: $17 billion
- 1/ Crypto adoption is slower than you think Most web3 projects struggle to get more than 2,000 daily active users Yet few teams have taken a thoughtful approach to user growth and retention Let's look at the numbers 👇
- 1/ Excited to share that Layer3 has raised $21M. A $15M round led by @paraficapital and @greenfield_cap, and a previously unannounced strategic round of $3.7M in 2022 and $2.5M round in 2021.
- Conversation with dead chain: - Raise $25M on a $250M post. Then $75M on $750M post - Over 2 years, $100M raised for 20% equity. - Team: 40–50 FTEs at ~$200K avg comp = ~$9M/yr. - Add ~$4M/yr in ops (legal, SaaS, travel, etc.) - Total burn: ~$13M/yr - Keep ~$80M in t-bills
- Of the 695,000 eligible wallets, nearly 126,000 are Layer3 users who can claim over 1 billion ZK Tokens.Introducing the ZK Token Checker → claim.zknation.io Announcement → blog.zknation.io/zk-token/ Docs → docs.zknation.io It’s time to put the ZK token into the hands of the community. It’s your turn to govern ZKsync’s future.
00:00 - Will send L3 gear (yeti, hat, hoodie) to a random user. Reply below with screenshot of streak or user profile.
- Coinbase's Solana drama is a textbook hero-to-villain arc. Right after FTX imploded the entire industry praised Coinbase for a cautious approach to security / fraud. They carried the weight of regulatory blowback from a disaster they didn’t cause and went toe-to-toe with the SEC
- We’re coming for the entire stack. Introducing the Layer3 Wallet.
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