Sneak-peek: what’s inside this issue 👀 

👉️ Narrative of the week: A primer on blockchain-powered payments, how it’s taking the place of antiquated bank transfers. Plus, a project that’s making crypto payments much more accessible

👉️ Alpha from Masterclass: Nuggets from our recent “Community and Partners” masterclass that featured @Sarut0biSasuke, Head of Partnerships and Investments at KAP Games

👉️ Symbiote Spotlight: recent highlights, success stories and alpha from the Symbiote Ecosystem

👉️ Mentor Dashboard is Live!: With this feature, mentors can easily view and connect with our cohort projects right on the platform

Narrative of the week 🗓️

Blockchain powered payments 💵 

Bid farewell to sluggish transactions and hefty fees – blockchain payments are rewriting the rules of global money movement. In this digital era, banks and processors take a back seat to a decentralized financial frontier. 🚀

✅ Key Benefits

⏱️ Speed: Lightning-Fast Transactions - No more waiting days – blockchain payments confirm in minutes, moving your money at the speed of thought. ⚡

💸 Cost-Efficiency: No More Hidden Charges - Blockchain payments cut through high commissions, offering minimal or no fees for transactions. Your cash stays where it belongs – in your pocket. 💸

🙌 Inclusivity: Breaking Barriers - Geography, regulations, or finances – no more barriers. Blockchain payments welcome anyone with an internet connection and a digital wallet. Financial freedom is for everyone. 🌐

🚀 Innovation: Beyond Transactions - Blockchain payments go beyond money movement, ushering in smart contracts, decentralized apps, and cryptocurrencies. The future of finance is brilliantly redefined. 💡

Blockchain payments are not only a technical innovation, but also a social and economic one, that has the potential to impact various sectors and industries. 📈

📊 By the Numbers:

💰 According to Statista, global spending on blockchain solutions hit $6.6 billion in 2021, projected to soar to nearly $19 billion by 2024. The financial landscape is getting a makeover.

🌐 Over 300 million individuals, 3.9% of the global population, embrace blockchain for cryptocurrency. The world tunes in to the blockchain revolution.

🏦 90% of U.S., Canadian, and European banks explore blockchain's possibilities. Traditional banking gets a facelift.

🤔 However - there are challenges:

There are some problems when it comes to crypto payments, however:

• People can't use crypto in their daily lives.

• There is a lack of confidence due to absence of clear regulations.

• Local institutions impose limits on crypto transaction.

🛠️ Scallop - the world’s first regulated on-chain bank: 

Enter Scallop, pioneering a regulated on-chain bank for both fiat and crypto.

Innovative Tech at Scallop

• They utilize proprietary blockchain tech for next-gen banking services on regulated infrastructure.

• Users can spend, send/receive money (20+ currencies), trade cryptos, invest in Defi, and collect NFTs globally. 🌐💸

Scallop Highlights🌟

• Real bank account access with both physical & virtual cards.

• FX & Remittance services for 20+ currencies.

• Pioneering ZK Rollups in banking.

• Global licenses, enabling access to 150M+ crypto users.

Here’s a lowdown on the top features in Scallop’s next-gen wallet 👇️ 

Embrace the evolving financial landscape – where blockchain revolutionizes payments and products like Scallop make it simple to hop onboard! 🚀💎

Further reading: primer on blockchain-based payments👇️ 

Alpha from Masterclass on Community & Partners 🌟 

Community and partnerships are vital for the success of a Web3 project. They can help you grow, innovate, and increase adoption for your product.

But how do you create and sustain a loyal and engaged community and partnerships?

We recently hosted a masterclass on this topic for our cohort projects, with some community participants joining in as well.

It featured Sarutobi (@Sarut0biSasuke), a seasoned crypto professional with a background in enterprise SAAS sales. Currently Head of Partnerships and Investments at KAP Games, he previously excelled in community building at Yield Guild Games (YGG) and advises 10+ projects in crypto and Blockchain Gaming.

🌟 Alpha drop from the session 👇️ 

👨‍👩‍👧‍👦 Refine your community engagement by creating tailored content that resonates with your target audience.

Ask your community about their preferences and deliver accordingly. Gamify your educational materials, segment your community channels, and engage with educational institutions to build developer communities.

🤝 Avoid superficial partnerships that do not provide any real value or have no substantial groundwork.

Do not announce partnerships that are not finalized, confirmed, relevant, or balanced. Focus on partnerships that are meaningful, aligned, and mutually beneficial.

🤗 Retain your community members who are not direct users of your product, especially during bear market periods.

Communicate your project’s value, token’s utility, and project’s progress clearly and consistently. Explain why your project is unique, valuable, and innovative, and how your token is used, earned, and spent. Provide regular and transparent updates on your project’s development, roadmap, and KPIs.

Community Slots - Grab hold of this opportunity! ✨ 

More sessions like this are incoming!

These will be attended by our cohort projects.

However, some slots are open to the community! We strongly recommend applying - some serious alpha and insights are shared by subject matter experts.

Keep an eye on our Twitter for updates. And also subscribe to this newsletter.

Symbiote Spotlight⭐️

Let’s take a look at some of the recent highlights, success stories and alpha from the Symbiote Ecosystem 👇

1) Chainrisk publish report discussing impact of economic exploits, in collaboration with QuillAudits

This report underscores that Economic and Protocol level attacks constitute 55% of recent total funds lost. (Check out the complete report here)

To counter this, they have introduced Chainrisk Cloud, a cloud-based simulation infrastructure to stress test protocols against market manipulation and adverse conditions.

2) NodeOps have helped power close to 100 nodes on XAI, the Arbitrum gaming giant! 🎮️ 

People have been raving about their nodes on XAI running smoother than ever, thanks to NodeOps. You can tap into the gaming powerhouse in the Arbitrum ecosystem too by effortlessly setting up your Sentry Node. ⚔️ 

3) Hypersign’s collaboration with Chainlink marks a big step forward for cross-chain KYC

4) ZOTH was featured in a recent Token Metrics episode 📊 

Check out this episode to get a view on why Token Metrics consider ZOTH a hidden gem in the RWA space🔶 

5) DeHack analyze vulnerabilities that led to the $82M Orbit Chain attack 🪲 

On New Year's Eve, December 31, 2023, Orbit Chain fell victim to a series of exploits within its transactional infrastructure, resulting in a staggering financial setback of approximately $82 million.

DeHack have done a deep dive into the vulnerabilities that caused this, and talk about how it can be mitigated.

6) The Scallop card is getting rave reviews from users worldwide🌍

The banking world has got a turbo boost with the Scallop Card! 🚀

Rave reviews regarding its unrivalled speed and unparalleled ease of use are sweeping the globe.

Platform Developments ⚙️

🧑‍🏫 Mentor Dashboard is now Live!

The Mentor Dashboard feature is now live on the Symbiote platform. 🥳 

Connecting to the right mentor can change the game for a start-up. Projects can already connect to mentors on our platform easily.

But now - with the new Mentor Dashboard, mentors can easily view and connect with our cohort projects as well, right on the platform!

Mentors can login and

• view all the projects,

• view connection requests from them, and

• express interest to connect with any project.

We request our mentor partners to give it a spin and let us know your feedback!

Stay tuned for more deets on how Symbiote is shaking up the whole accelerator scene! 🌐🚀

That’s all for this week, folks! Stay tuned for new editions of SymBytes every Tuesday. In the meanwhile, stay connected with us here-

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About Symbiote

The Web3 ecosystem is plagued by funding gaps and a dearth of tailored support. Symbiote aims to be the antidote 💉 

Here are the key differentiators in Symbiote’s program.

• 12-week tailored program designed for individual project needs.

• Sprint-based model for high-paced, measured results.

• Focus on instilling confidence in startups to navigate the dynamic crypto market.

• Real-time project insights via cutting-edge analytical tools.

• Knowledge center providing detailed connections, past performance, and future plans.

• Access to an extensive ecosystem with 50+ Mentors, 450+ Partners, 150+ Investors and a fast growing 110k+ Global Community

 🚀 As crypto markets are heating up, the time could not be better for a promising project to join a program like this. 

The conditions are ripe - and with an industry leading support system, your chances of succeeding are catapulted to the 🌙.

Stay tuned as we’ll be announcing our first cohort of some super promising, path breaking projects in the coming days! 

👉️ Apply here for the next cohort!