October 25, 2024
Hana Network, a startup focused on transforming the cryptocurrency landscape through its Hyper Casual Finance model, has successfully raised $4 million in a Builders round. This funding round included contributions from notable builders like Sushiswap, Alliance, and Orange DAO, and was incubated by Binance Labs. Although the exact valuation remains undisclosed, this funding highlights the growing interest in user-driven solutions within the crypto space. Hana Network aims to tackle the onboarding challenges faced by newcomers to cryptocurrency, providing an innovative solution with its Hana Gateway, a trustless on/off ramp that launched in January 2024.
The primary focus of Hana Network is to simplify the complex world of cryptocurrency by leveraging existing social networks for user-driven distribution. Unlike traditional centralized exchanges (CEX), which often provide a passive user experience, Hana Network engages users through casual earning mechanisms such as attention incentives, social tipping, and peer-to-peer (P2P) funding. This approach not only aims to democratize access to crypto but also seeks to create new network effects that are particularly beneficial for the unbanked population.
Hana Network is set to roll out its mainnet in four phases, with the first phase already completed through the launch of a hyper-casual card game called Hanafuda. This game allows users to earn rewards while playing, fostering engagement and community interaction. Future phases will gradually introduce new experiences, with an emphasis on real-time communication and connections to the physical world.
About Hana Network
Hana Network aims to lead Hyper Casual Finance, transforming the cryptocurrency landscape into an accessible platform for newcomers. By integrating social network effects with blockchain's P2P transactions, Hana Network allows users to easily onboard from social media and engage in casual earning opportunities. The platform emphasizes user interactions to create a dynamic and engaging environment for financial transactions, making it a valuable gateway to crypto.
Website: https://hanafuda.hana.network/
X: @HanaNetwork
About Investor
Sushiswap
SushiSwap is a multichain decentralized exchange (DEX). It operates as a decentralized autonomous organization (DAO), meaning the community governs its platform. SushiSwap offers various features, including automated market making, yield farming, governance, and support for multiple blockchains.
The platform uses automated market makers (AMMs) to facilitate trading between different cryptocurrencies which eliminates the need for a central order book. Additionally, users can stake their liquidity pool tokens to earn rewards in the form of SUSHI tokens, the platform's native governance token.
SushiSwap's DAO model allows token holders to vote on proposals and shape the platform's future. This decentralized governance ensures that the platform remains community-driven and responsive to user needs.
Beyond Ethereum, SushiSwap has expanded to support various other blockchains, including Polygon, Avalanche, and Fantom. This expansion has increased the platform's accessibility and broadened its potential user base.
Location: DAO
Website: https://www.sushi.com
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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