{"id":187704,"date":"2021-02-24T15:00:00","date_gmt":"2021-02-24T12:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/alameda-research-doubles-down-on-maps-me-invests-40-million-in-oxygen\/"},"modified":"2021-02-24T15:00:00","modified_gmt":"2021-02-24T12:00:00","slug":"alameda-research-doubles-down-on-maps-me-invests-40-million-in-oxygen","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/alameda-research-doubles-down-on-maps-me-invests-40-million-in-oxygen\/","title":{"rendered":"# Alameda Research doubles down on Maps.me, invests $40 million in Oxygen"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3500912b3ca\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3500912b3ca\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/alameda-research-doubles-down-on-maps-me-invests-40-million-in-oxygen\/#Users_users_users\" >Users, users, users<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/alameda-research-doubles-down-on-maps-me-invests-40-million-in-oxygen\/#Embedded_definance\" >Embedded (de)finance<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Alameda Research doubles down on Maps.me, invests $40 million in Oxygen  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvN2U4OGQ2ZTktOTUyYS00MGVkLWI3ZTctOTgxYzgyM2FkMTQzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>How much are 140 million users worth?\u00a0<\/p>\n<p>After a $50 million direct investment in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a> Maps.me earlier in the year, Alameda Research has announced today a $40 million investment in decentralized finance protocol Oxygen, a Solana-based lending platform that will plug into the app.\u00a0<\/p>\n<p>Similar to lending protocols such as Aave and Compound, \u201cOxygen will first offer borrow-lending services via pools, in which users will deposit their assets and leverage Serum\u2019s on-chain infrastructure to lend according to their desired terms. Users can also simultaneously lend to generate yield while borrowing against their portfolios,\u201d reads the announcement. <\/p>\n<p>While the specifics are hard to come by on official channels, Oxygen also boasts a host of planned features including cross-chain integrations with Ethereum-native protocols like Aave and Yearn, options writing, and fully decentralized governance. The protocol is currently in the Alpha stage with the largest debt pool listed at $1,000. <\/p>\n<p>Alameda Research was joined in the round by investment firms MultiCoin Capital, Genesis Capital and CMS Holdings.\u00a0<\/p>\n<p>\u201cOxygen will be the most sophisticated and elegant risk management tool in DeFi \u2013 with a strong team, growing liquid ecosystem and large potential user base we believe this is the next step in mass adoption,&#8221; said Alameda Research CEO Sam Bankman-Fried of the acquisition. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Users_users_users\"><\/span>Users, users, users<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The $40 million investment comes after a $50 million investment in Maps.me Alameda Research\u00a0announced in January. Combined with the $20 million Oxygen CEO Alex Grebnev reportedly paid to acquire Maps, the team has now invested into the app at a rate of over $.78 cents for each of Maps\u2019 reported 140 million users.\u00a0<\/p>\n<p>While many in the crypto community found the initial investment puzzling \u2014 it remains unclear if users of a travel app want or need DeFi functionality \u2014 Grebnev believes the user numbers are key to unlocking long-term value:<\/p>\n<blockquote><p><strong>\u201cCurrently, DeFi space has at most circa 1 million users. How much would the Oxygen\/Maps ecosystem be worth if Maps.me\u2019s 140 million registered users started leveraging the protocol \/ platform?\u201d<\/strong><\/p><\/blockquote>\n<p>Part of the user-focused strategy might be a result of Grebnev\u2019s previous efforts with Oxygen. In 2018, he launched a peer-to-peer lending service with the same name, but demand and product-market fit failed to materialize. He lists a number of potential reasons:<\/p>\n<p>\u201cFirst, it was a business model that didn\u2019t scale \u2013 non-custodial peer to peer borrowing \/ lending of individual assets with no matching engine. Second, the market went down 80% from the time when we started working till 6 months later when we were ready to launch. Third, institutional demand which everybody was expecting \u2013 didn\u2019t come through. We decided to pause the project.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Embedded_definance\"><\/span>Embedded (de)finance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>With Maps.me and a new version of Oxygen looking to replicate prime brokerage services, Grebnev is hoping for a different outcome. He says that internal research indicates that 47% of current Maps.me users \u201cwant financial services.\u201d He points to similar user-jacking efforts that are common among tradfi companies.\u00a0<\/p>\n<p>\u201cEmbedded finance is a big theme. Take QuickBooks introducing bank accounts. Or Apple offering credit cards. Companies leverage their userbases to offer relevant financial services,\u201d he said.<\/p>\n<p>What\u2019s more, in the context of tradfi user-acquisition, the aggregate $110 million Alameda Research and Grebnev have invested into the travel app may actually be a bargain:<\/p>\n<blockquote><p>\u201cThese transactions enabled us to build an ecosystem that integrates DeFi tools with a user base of more than 100 million registered users. It took PayPal 20 years and billions of USD to get to 300m users. It took Revolut 5 years and hundreds of millions to get to 12 million registered users.\u201d<\/p><\/blockquote>\n<p>Oxygen\u2019s OXY governance token is currently available to select presale participants. The token will have an IEO on March 11th, following which it will be available on FTX, BitMax, and Serum DEX, per Grebnev.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/alameda-research-doubles-down-on-maps-me-invests-40-million-in-oxygen\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Alameda Research doubles down on Maps.me, invests $40 million in Oxygen &#8221; How much are 140 million users worth?\u00a0 After a $50 million direct investment in travel app Maps.me earlier in the year, Alameda Research has announced today a $40 million investment in decentralized finance protocol Oxygen, a Solana-based lending platform that will plug&#8230;<\/p>\n","protected":false},"author":1,"featured_media":187705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvN2U4OGQ2ZTktOTUyYS00MGVkLWI3ZTctOTgxYzgyM2FkMTQzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,90109,89897,74355],"class_list":["post-187704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-peer-to-peer-lending","tag-sam-bankman-fried","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/187704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=187704"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/187704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/187705"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=187704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=187704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=187704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}