A New Funding Boost for Arweave’s Ecosystem. Huobi Incubator, SevenX Ventures and everFinannce’s Partnership

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On the last days of March 2022 an announcement was made:

Like the entire community, we cheered this newly created partnership but at the same time, our curiosity went off the charts. What will this mean for the ecosystem? How do they envision strengthening it?

We couldn’t settle with the information provided by only one tweet, so we went for more insights. We found that the partnership actually is broader than we thought initially, the connection between everFinance and Huobi Incubator being made by SevenX Ventures (an investment initiative that already has stakes in some of the biggest Arweave projects).

Below you will find their detailed views!

SevenX Ventures statement

“SevenX has been following Arweave at its early stage. We really appreciate the proposition and design of this amazing project and believe that Arweave is not only a revolutionary storage solution, but also a leading representative of the new paradigm of Web3.

With this recognition, SevenX decides (sic) to build with Arweave in the long term and try our best to help boost the whole ecosystem, so we keep on looking for valuable projects in this ecosystem, and so far our portfolios include everFinance, ArDrive, Argo, Koii, Akord, and AR.IO.

On the other side, Huobi Incubator is one of our significant partners and we’ve established a solid relationship for a long time. In a conversation where we exchanged our ideas about Arweave, SevenX came up with the proposal that Huobi Incubator can have everFinance on board and then expand their layout to the whole system, and after that, we are dedicated to boosting the partnership to a happy ending.

Fortunately, we did it. So it’s just as our founding partner of Eraser said on his Twitter

“SevenX is very glad to see two of our great partners collaborating with each other, and we’ll keep on building in the Arweave ecosystem and boosting the collaborations like we boost this one.”

SevenX believes that this partnership is just the beginning. There are many possibilities to be explored. To be specific, we observe that the current token standard of the AR ecosystem still needs to be completed, and the liquidity of PST is not very good, which will lead to the possible hindrance of development.

We expect that the cooperation between Huobi and everFinance can serve the PST tokens in the future, boosting the liquidity, and ultimately providing financial services for the whole AR ecosystem. Tokens of other projects in this ecosystem can benefit from the DEX plus CEX solution. We expect that everFinance can become the financial infrastructure of the AR ecosystem to allow more people to have access to the AR ecosystem and hold the tokens of AR ecosystem projects.”

everFinance statement

EverFinance believes that Arweave is the ultimate solution for the Web3 infrastructure. Based on this, the new Storage-base consensus paradigm (SCP) can help it achieve the goal of a high-performance Web3 network in the future.

EverFinance not only launched high performance, low transaction fee payment protocol named everPay but also developed golang SDK —  goar which was officially designated by Arweave Org; ArSeeding, which provides lightweight Arweave data seed nodes; ArSyncer for Arweave data synchronization; as well as a series of open-source tools such as Web3 financial development kit Everpay-js and Everpay. py, contributing to the development of the ecosystem.

This collaboration with Huobi Incubator and SevenX, is an important part of everFinance’s initiative to expand the scope of ecosystem development. At present, Arweave’s ecosystem is still in its infancy, not only lacks user scaling but what’s urgent is the lack of liquidity for the ecosystem’s assets (such as PST).

To solve this problem, everFinance is working with outstanding resource providers to bring in rich resources as leverage to help Arweave eco-channel liquidity and incubate quality projects. In addition, through cooperation with more public chains, it is also expected to open up more inter-ecological value transfer channels in the future and open the development bottleneck of Web3 applications.

Huobi Incubator views

What’s your opinion about the permanent storage proposition of Arweave? Did this trait has anything to do with your decision to partner with everFinance and dive into the Arweave ecosystem?

Yes. For me personally, permanent storage comes as a core that constitutes a great part of the potential of Arweave. We have witnessed how permanent storage plays into the NFT boom last year, and we think it’s key in the WEB 3.0 world even more in the future.

What are your top objectives with this partnership?

Firstly, the main objective as an investor and incubator we’d love to support innovative applications and the tech behind Everfinance such as the Storage-based Consensus Paradigm that highly boosts performance but importantly, we think the Arweave ecosystem is interesting and we fully understand what devs and users can do in it! We see EverPay as an entry portal to many other projects, especially when the swap is available later, so we position this partnership as a way to support the Arweave ecosystem

We’re having talks with veteran arweavers in order to explore how we can better support Everpay and also on broader ecosystem building, leveraging our resources and expertise.

I’m wondering if you and SevenX, through this partnership, are thinking of developing a dedicated route in investing directly into Arweave native projects?

Yes. We are interested in the early AR native projects. A major differentiator of Huobi Incubator & 7x from other investors perhaps, is that we have hands-on support to teams in many regards, not only in form of capital but also in tech mentorship, driving growth, listing, and such.

As you can see, behind a few words that composed a tweet lays a whole new world of possibilities for Arweave native projects. We’re rooting for all the builders out there while welcoming the entry of Houbi Incubator inside the community. Also, we’ll keep an eye open on how they’ll integrate with the already existing funding initiatives inside the Arweave ecosystem.

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