Blockstack

About The Fund

Blockstack, established in New York, operates as a venture capital fund specifically targeting startups that are creating decentralized applications on their platform. They emphasize providing developers with the necessary tools and tokens on the Blockstack network to jumpstart the development of their apps. What differentiates Blockstack is their foundation on the Stacks network, which leads as a Layer 2 solution on Bitcoin for smart contracts, applications, and decentralized finance (DeFi). The firm's investment thesis revolves around leveraging Bitcoin's secure base layer to unlock new possibilities for apps and smart contracts, which also includes their support for sBTC, a Bitcoin-backed asset designed to bridge Bitcoin to Layer 2 and back. Blockstack actively fosters a Bitcoin-based economy, aiming to capitalize on the over $1 trillion in dormant capital within the Bitcoin network. They provide tools, tutorials, and a supportive community for developers to build secure and innovative applications secured by Bitcoin. Through their platform, developers can access a largely untapped audience and benefit from Bitcoin's network effects. Moreover, with the introduction of Clarity, a security-first programming language, developers gain the ability to write smart contracts with direct visibility into Bitcoin's state. The firm also supports a range of projects and protocols on the Stacks network, such as Zest Protocol, a Bitcoin lending protocol; STX20, a protocol for creating and sharing digital artifacts; and a variety of DeFi applications like Velvet, BitFlow, and multi-feature wallets like Asigna.