Canadian blockchain infrastructure and services provider Figment has raised $110 million in a Series C funding round that valued the company at $1.4 billion, making it the latest to reach unicorn status in the cryptocurrency space.

Terra has become the second-largest blockchain for decentralized finance (DeFi) protocols in terms of total value locked after surpassing the Binance Smart Chain (BSC) with over $18 billion in value locked on its DeFi protocols.

The Grayscale Bitcoin Trust (GBTC) closed the previous week with a record discount of 21.36% to its net asset value, meaning investors can purchase GBTC shares at prices significantly lower than the actual market value of the Bitcoin in each share.

Sponsored: You’ve probably heard all about Curve Finance, the popular decentralized exchange for stablecoins, but may be put off by having to manage another on-chain wallet. Bybit has simplified the process for users like you, so you can get easy access to DeFi on Bybit.

Top stories in the Crypto Roundup today:

• Crypto Staking Firm Figment Becomes Unicorn With $110 Million Fundraise
• Terra Becomes Second-Largest DeFi Protocol
• Grayscale’s Bitcoin Trust Hits Record Discount
• What is Polkadot?
• Sponsored: Check Out The Newest Liquidity Mining Pool on Curve Finance

Crypto Staking Firm Figment Becomes Unicorn With $110 Million Fundraise

Canadian blockchain infrastructure and services provider Figment has raised $110 million in a Series C funding round that valued the company at $1.4 billion, making it the latest to reach unicorn status in the cryptocurrency space.

The round was led by software investment firm Thoma Bravo and saw participation from firms like Morgan Stanley’s Counterpoint Global, Binance Labs, ParaFi Capital, Avon Venture, Bitstamp and Franklin Templeton, among others.

Figment is set to use the funds to accelerate its Web 3.0 growth and increase its headcount. Web 3.0 refers to services and applications on the decentralized web, made possible by blockchain technology and smart contracts.

The Series C round follows a $50 million Series B round in August led by institutional investors Senator Investment Group and Liberty City Ventures. Galaxy Digital, 10T Ventures, and Anchorage Digital also participated in the Series B.

Terra Becomes Second-Largest DeFi Protocol

Terra has become the second-largest blockchain for decentralized finance (DeFi) protocols in terms of total value locked after surpassing the Binance Smart Chain (BSC) with over $18 billion in value locked on its DeFi protocols.

According to DeFiLlama data, Terra’s total value locked is $1.4 billion above that of BSC, which has $16.5 billion locked over 225 protocols. The figures show a near 42,000% increase to December 2020, when DeFi projects on Terra held around $42 million in value.

Ethereum retains the crown when it comes to DeFi, with over $150 billion locked on more than 350 protocols. Some of the projects with billions in total value locked on Ethereum have not been launched on other blockchains, at least so far.

Leading the total value locked on Terra is Anchor, a savings protocol offering low-volatile yields on Terra stablecoin deposits. Anchor has over $7.7 billion in value and accounts for 42% of Terra’s total value locked.

Grayscale’s Bitcoin Trust Hits Record Discount

The Grayscale Bitcoin Trust (GBTC)  closed the previous week with a record discount of 21.36% to its net asset value, meaning investors can purchase GBTC shares at prices significantly lower than the actual market value of the Bitcoin in each share.

Similarly, existing holders are likely to face losses due to the six-month lock-up period for the initial investment. The price of GBTC has fallen to around $34.4 per share. Each share contains 0.00093202 BTC, worth over $45.

GBTC is a closed-end fund that cannot easily add or remove shares to accommodate inflows and outflows. As a result, its share price is determined by supply and demand, rather than by the underlying value of its assets.

Historically, GBTC shares have traded at a premium relative to the value of Bitcoin, but that premium disappeared after the launch of several Bitcoin exchange-traded funds (ETFs) in Canada, and of other exchange-traded products offering investors exposure to BTC.

What is Polkadot?

Polkadot is a blockchain network often described as a “blockchain of blockchains,” as it allows users to launch and operate their own blockchains on top of the main Polkadot blockchain. This main blockchain, called the relay chain, does not support smart contracts, but other blockchains connected to it can support them.

As a result, Polkadot is set to become a growing ecosystem of cryptocurrencies that competes with other smart contract networks such as Ethereum, the Binance Smart Chain, and more. It was launched in 2020 and brings a number of technical features that help it reach its goal.

The user-created blockchains, called parachains, benefit from the same security of the relay chain where transactions are permanent, but can be customized by the users. Polkadot’s design allows it to become a network of blockchains with secure transactions and varying features, all while using the resources of its relay chain.

Learn more about Polkadot below:

Bybit’s DeFi Mining - Check Out The Newest Liquidity Mining Pool on Curve Finance

You’ve probably heard all about Curve Finance, the popular decentralized exchange for stablecoins, but may be put off by having to manage another on-chain wallet. 

Bybit has simplified the process for users like you, so you can get easy access to DeFi on Bybit. 

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1. Choose among 7-, 14-, and 21-day product plans.
2. Stake USDT. 
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