🐦💰 Elon's Twitter Tosses More Dough to Creators - Proof of Intel

Welcome, tech enthusiasts! Your fellow explorers, Kimchi & Mochi, are thrilled to bring you another thrilling edition of Proof of Intel (PoI)💫. We're not just narrating tales, we're charting a course through the ever-evolving tech universe. When you participate and cast your votes, you're more than a spectator - you become a crucial navigator in this journey. Ponder the risk of staying on the sidelines: it's not merely about being uninformed, but also about shutting doors to potential growth and opportunities. Each piece of knowledge bolsters your tech wisdom, readying you for the future. Visualize this: with PoI, you're fostering a tight-knit tech community, shaping narratives, and architecting our shared future. Are you ready to seize the moment? Don't let the opportunity escape you - grab the controls and let's conquer the tech cosmos together! 🚀

SUMMARY 📓🖋️

🟧 Twitter revises its revenue-sharing policy, aiming to attract and retain creators amid stiff competition from platforms like Instagram Threads.

🟧 Uniswap introduces UniswapX, a Dutch auction-based protocol, aimed to jazz up onchain trading and self-custody swapping

🟧 Coinfund invests $152 million in early-stage crypto and AI start-ups, signaling confidence amid the general retreat from crypto investments.

🟧 Polychain Capital remains bullish, raising $200 million for its fourth fund and making significant changes to its team.

🐦 Twitter Tosses More Dough 💰 to Creators

Last week, Twitter started sprinkling some of the ad revenue over creators in a bid to keep the top tweet maestros from fleeing to platforms like Instagram Threads. The first payout round, as reported by the SpaceX and Tesla dude (and Twitter owner), Elon Musk, totalled a whopping $5 million.

But, not everyone was singing praises. A legacy policy was keeping some creators from earning a buck if their profile showcased "animals or fictional characters." But Musk, quicker than a cat with its tail on fire, responded to 'Battle Beagle', who pointed out this flaw, with a "Consider this silly policy deleted as of now."

Also, the rate limit issue, a constant pain for an active tweeter, received Musk's attention. The limit, Musk claims, should only kick in after about eight hours of non-stop scrolling. And, to sweeten the deal, Twitter's rate limit for verified users is set to increase by 50%.

There's more! Revenue sharing will soon extend to profile page views, potentially doubling the payouts. Just make sure you're a verified user, otherwise you'll be left in the cold.

In response to user feedback, Musk also dropped hints about bringing back live-streaming for subscribers.

These changes come as Twitter takes on new challengers, like Mastodon, T2, Bluesky, and Instagram Threads. Looks like Twitter’s plan of attack is simple: keep the creators tweeting, and the revenue rolling.

💱 UniswapX Brings a Dutch Twist to Onchain Trading 🌬️

Hold onto your hats, because Uniswap - the Picasso of Protocols - just introduced a new star to its constellation: UniswapX! Think of it as the Chocolate Chips on your Vanilla Sundae; an exciting, Dutch auction-based protocol designed to take onchain trading to the next stratosphere.

UniswapX is the new kid on the blockchain, here to tackle the many-headed hydra of onchain routing complexities. Much like an elite squad of super-efficient elves, third-party fillers take on the heavy lifting of routing. What does this mean for you, dear reader? Say goodbye to the gnawing anxiety of hunting for the best prices. UniswapX has your back, ensuring your transactions are as smooth as a well-aged whisky!

One of the tastiest flavors of UniswapX? The gas-free swapping! Imagine signing an offchain order that's executed onchain by gas-absorbing fillers. It's like ordering your favorite Mochi, but someone else is footing the bill! And worry not about failed transactions - they won't cost you a dime or a moment of peace.

Ever heard of MEV, or Maximum Extractable Value? If you've swapped onchain before, MEV might have gobbled up your funds like a famished cookie monster. But fear not, UniswapX serves as your MEV bouncer, ensuring better prices for your transactions.

💰 Coinfund's $152M Boost 🚀 to Crypto and AI Ventures

Alright, Proof of Intel pals, time for some cold, hard cash talk. It seems that Coinfund, a venture capital firm, is going against the grain by staying in the crypto game. Yes, you heard it right, this New York-based VC firm has just raised $152 million to boost fresh crypto start-ups, at a time when many are fleeing the volatile industry. Take that, crypto doomsday prophets!

Coinfund's co-founder and chief investment officer, Alex Felix, spilled the beans on their future plans. Their focus? Infrastructure development around crypto. Why? To enable more decentralization, of course! "Now you're seeing a big, renewed focus on scalability, interoperability, and user experience to really bring that roadmap to decentralization to completion," Felix stated. That's more loaded than a billionaire's yacht, friends!

Previously, Coinfund invested in what Felix referred to as the "established category" of applications - things like NFT gaming and DeFi. However, this new round of investment is going to be a bit different. Early-stage crypto start-ups, especially those entangled with artificial intelligence, are now in the spotlight.

Despite last year's crypto failures, including the collapse of the TerraLuna stablecoin and FTX's debacle, Coinfund remains unshaken. In fact, Felix believes the current market climate offers a silver lining, allowing investors to be more discerning. This slower pace of dealmaking means only the most ambitious entrepreneurs, with solid problem-solving capabilities, make the cut.

Polychain Capital's Power Move 💰 $200M Funding Raised & Team Revamped for Crypto Venture ⛓️

In crypto news, Polychain Capital, a renowned player in the crypto venture capital space, has managed to raise approximately $200 million in the first close of its fourth fund. This move is seen as a positive sign for the crypto industry, demonstrating sustained interest in the sector despite the ongoing "Crypto Winter" that has resulted in venture funding drying up for startups and VC firms. The firm plans to raise around $400 million in total for the fourth fund.

Polychain Capital, established in 2016 by Coinbase's first employee, Olaf Carlson-Wee, has been instrumental in leading investments in decentralized exchange Uniswap and African crypto exchange Yellow Card. The firm was also included in this year's inaugural Fortune Crypto 40.

Despite a reported drop in its assets under management during a crypto market downturn in 2019, Polychain outperformed the overall crypto market, which suffered a 70% dip during the same period. Polychain's target amount for its fourth fund is slightly less than $400 million.

The company's fresh funding drive comes with a reshuffle in its team of about 25, with around 15 focused on research. Three employees from the research team were let go, and a new staffer was added in line with the firm's new focus for its fourth fund.

The fund will primarily focus on Ethereum-based projects, reflecting the shift in the firm's priorities. This is evidenced by the new researcher hired for their background in data science.

TL;DR Summary: Crypto venture capital firm Polychain Capital has successfully raised about $200 million for the first close of its fourth fund, signaling continued interest in the crypto industry amid a challenging "Crypto Winter". Additionally, the firm has made changes to its team in preparation for a new fund and a shift in focus towards Ethereum-based projects.

TL;DR: 🔻💯

🟧 Twitter is upping its game to keep creators hooked, revising its revenue-sharing policy to include ad revenue from profile views and expanding access for creators. Amid stiff competition, Twitter's fighting back with larger payouts, increased rate limits, and live-streaming options.

🟧 Uniswap brings forth UniswapX, a new protocol offering better pricing, gas-free transactions, and MEV protection. The initiative will soon roll out gas-free cross-chain swaps, making onchain trading as easy as Sunday morning.

🟧 Venture capital firm Coinfund bucks the trend by raising $152 million to fund early-stage crypto and AI start-ups. Despite setbacks in the crypto industry and shrinking investment in recent years, Coinfund focuses on infrastructure and decentralization, demonstrating faith in the long-term prospects of the sector.

🟧 Crypto venture capital firm Polychain Capital has successfully raised about $200 million for the first close of its fourth fund, signaling continued interest in the crypto industry amid a challenging "Crypto Winter". Additionally, the firm has made changes to its team in preparation for a new fund and a shift in focus towards Ethereum-based projects.