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Bunzz Raises $4.5M Seed Round to Expand its Smart Contract Hub for DApp Development

Singpore, Singapore, 24th January, 2023, Chainwire Bunzz a web3 development platform for decentralized applications, has completed a $4.5M seed round. Investors included gjmp, DG Daiwa Ventures, Coincheck, and Ceres. Funding will be used to help build out Bunzz’s Smart Contract Hub, which is already used by more than 8,000 dApp developers. (Product page: https://bunzz.dev/ ) […]

The post Bunzz Raises $4.5M Seed Round to Expand its Smart Contract Hub for DApp Development appeared first on CoinJournal.

Singpore, Singapore, 24th January, 2023, Chainwire

Bunzz a web3 development platform for decentralized applications, has completed a $4.5M seed round. Investors included gjmp, DG Daiwa Ventures, Coincheck, and Ceres. Funding will be used to help build out Bunzz’s Smart Contract Hub, which is already used by more than 8,000 dApp developers. (Product page: https://bunzz.dev/ )

Bunzz has established a strong track record since its launch 11 months ago. Over 8,000 DApp developers have been using the platform, and more than 3,000 DApp projects have been deployed on-chain, making it one of the largest DApp development infrastructures in Asia.

The platform has been recognized by top-tier landmarks as a major infrastructure service in the smart contract development sector. It has been featured on the web3 development infrastructure chaos map published by Coinbase. Additionally, Bunzz was also a finalist in Icetea Lab, Singapore’s largest web3 accelerator program.

Bunzz Raises .5M Seed Round to Expand its Smart Contract Hub for DApp Development

Currently, engineers who can handle DApp development are very rare. The reason is that the barrier to developing smart contracts, which are web3-specific programs, is high. In other words, if web2 software engineers could handle contract development, it would be much easier to enter the web3 space.

Bunzz has succeeded in simplifying the previously complex development process by providing frequently used contracts as modules and wrapping the preparation of nodes and the launch of the development environment.

About Bunzz’s core feature “Smart Contract Hub”

Bunzz offers a modularized version of frequently used smart contracts. These are freely available to general users and can be reused by other DApp developers.

On the other hand, there is a similar service called Open Zeppelin, an open-source library. The difference between this and Bunzz is convenience. While OZ’s code is just a library and cannot be deployed right away as it requires a development environment and nodes, Bunzz’s modules can be deployed with just a GUI. It is truly the “web3 version of Docker Hub”.

Partial list of smart contract modules offered by Bunzz

NFT related modules:

  • NFT (IPFS Mintable)
  • NFT (Breedable)
  • NFT (Custom-URI)
  • NFT (Royalties)
  • Simple Marketplace (For NFT)
  • Auction Marketplace (NFT)
  • NFT (ERC721)
  • Non-Tradable Token (ERC4671)
  • Simple Marketplace (For MultiToken)
  • Auction Marketplace (For Multi Token)

DeFi related modules:

  • Token (ERC20)
  • Token (ERC20 Capped)
  • TokenERC20DAOToken
  • ReflectionToken
  • MultiToken (ERC1155)

Kenta Akutsu, CEO & Co-Founder of Bunzz, explained: “Bunzz ultimately aims to become web3’s equivalent to Docker Hub. Immutable smart contracts on the blockchain are open programs, also called ‘public goods,’ because anyone can access and use them without permission. However, the usage flow and the logic of their operation are difficult to understand, making it inconvenient for engineers who want to reuse them. Bunzz aims to solve this problem by incentivizing creators of smart contract modules to create more accurate coding and documentation. Please feel free to contact us via twitter or discord.”

The 13 participating investors:

Bunzz pte ltd company profile:

  • Company name: Bunzz pte ltd
  • Representative: Kenta Akutsu
  • Head Office: 6 Eu Tong Sen Street #12-17 The Central Singapore 059817
  • Business: Operation of web3 development infrastructure “Bunzz”
  • Establishment: May, 2022
  • Capital: 4,500,000 USD
  • URL: https://bunzz.dev

Contact

CEO, Kenta Akutsu, Bunzz pte ltd, [email protected]

The post Bunzz Raises $4.5M Seed Round to Expand its Smart Contract Hub for DApp Development appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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4 bearish factors for Bitcoin this week

The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar Bitcoin might give up some of its 2023 gains on a hawkish Fed All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening The Federal Reserve’s monetary policy decision is scheduled this week. It is the […]

The post 4 bearish factors for Bitcoin this week appeared first on CoinJournal.

  • The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar
  • Bitcoin might give up some of its 2023 gains on a hawkish Fed
  • All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening

The Federal Reserve’s monetary policy decision is scheduled this week. It is the first time the FOMC (Federal Open Market Committee) meets in 2023, and the stakes are high for the US dollar.

Bitcoin has strengthened against the US dollar in January so far, in sync with other fiat currencies. Therefore, whatever the Fed decides on Wednesday will affect Bitcoin price too.

A hawkish Fed may turn up being bearish for Bitcoin. These are the four areas where the Fed may express its hawkishness: inflation outlook, growth outlook, interest rates level, and quantitative tightening.

Inflation outlook

The Fed is committed to bringing inflation to its 2% target. This is why it has raised rates so aggressively, so if the Fed says that inflation is embedded and upside risks remain, then the US dollar should move higher.

In this scenario, the market will bet that the Fed sees ongoing rate hikes as appropriate.

Growth outlook

The currency stance is that a sustained period of below-trend growth is likely. If the Fed changed its view and sees recession required to have a material impact on the inflation outlook, that would also trigger a sharp move higher in the dollar.

Interest rates

Ultimately, it is all about the interest rate level. The funds rate range has reached 4.25%-4.50%, and all eyes are on what the Fed does and says on Wednesday.

The base case scenario is that the Fed will hike by 25bp and says that ongoing interest rate increases are appropriate. Therefore, anything more than that should be bullish for the dollar and bearish for Bitcoin.

For example, the Fed might hike 50bp. This is a risk going into the meeting, especially considering that inflation is not backing down as fast as initially thought.

Quantitative tightening

The Fed currently shrinks the balance sheet at a pace of $95 billion/month. A decision to accelerate the balance sheet reduction would be very hawkish for the dollar.

The post 4 bearish factors for Bitcoin this week appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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