
The Middleware Thesis
TLDR:Building and using crypto remains painful b/c it requires direct interaction with base protocol layers (L1s) that have made technical and UX sacrifices to satisfy a pre-defined ethos (e.g. decentralization, scaling, etc).Modular architecture empowers builders to permissionlessly innovate and customize on behalf of users by creating abstractions on top of the base layer.The biggest unlock of modular won’t be general-purpose solutions (e.g. roll-ups), but rather use-case specific protocols...

The Web3 Growth Playbook
Interest in Web3 has exploded over the past twelve months. NBA superstars are paying six-figures for NFT's and proudly displaying them. OpenSea is doing more volume than Etsy. The fastest growing game in the world runs on Ethereum. While this surge in interest has driven new users into the space, usage of crypto products still dwarfs that of their predecessors. There are hundreds of Web2 apps and games with more than 10M monthly active users - Metamask is the only Web3 app at this scale....
Investing in Lagrange
We’re excited to announce our investment in Lagrange, which is building cross-chain State Proofs, allowing any user to prove cross-chain state without requiring intermediary bridges or messaging protocols. Cross-chain State Proofs aim at solving the fragmentation of contract state and liquidity across different chains, which has created inherent inefficiencies between instances of multi-chain DeFi applications. Since Lagrange State Proofs are purely cryptographic, they also provide an improve...

The Middleware Thesis
TLDR:Building and using crypto remains painful b/c it requires direct interaction with base protocol layers (L1s) that have made technical and UX sacrifices to satisfy a pre-defined ethos (e.g. decentralization, scaling, etc).Modular architecture empowers builders to permissionlessly innovate and customize on behalf of users by creating abstractions on top of the base layer.The biggest unlock of modular won’t be general-purpose solutions (e.g. roll-ups), but rather use-case specific protocols...

The Web3 Growth Playbook
Interest in Web3 has exploded over the past twelve months. NBA superstars are paying six-figures for NFT's and proudly displaying them. OpenSea is doing more volume than Etsy. The fastest growing game in the world runs on Ethereum. While this surge in interest has driven new users into the space, usage of crypto products still dwarfs that of their predecessors. There are hundreds of Web2 apps and games with more than 10M monthly active users - Metamask is the only Web3 app at this scale....
Investing in Lagrange
We’re excited to announce our investment in Lagrange, which is building cross-chain State Proofs, allowing any user to prove cross-chain state without requiring intermediary bridges or messaging protocols. Cross-chain State Proofs aim at solving the fragmentation of contract state and liquidity across different chains, which has created inherent inefficiencies between instances of multi-chain DeFi applications. Since Lagrange State Proofs are purely cryptographic, they also provide an improve...

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We’re excited to announce our investment in Tholos, which is building the next generation of crypto-native financial infrastructure. Today most crypto-native organizations run their businesses on top of SAFE multi-sig wallets. Multi-sigs have become a mainstay of crypto - project treasuries, DAO’s, groups of friends all use multi-sigs to jointly store assets.

While multi-sig’s have become a key part of crypto financial infrastructure, they have draw backs. They are smart contract based and so they can be challenging to upgrade. This architecture also makes them single chain by design. Moreover, it can be challenging to interact with the ever growing universe of Web3 apps through a smart contract wallet (as app developers generally have to build a special connection).
What if I told you there was a technology that solved these problems but still provided similar security guarantees as a multi-sig? This is the promise of MPC (Multiparty Computation) which has seen adoption grow steadily over the last few years.
Tholos is building an MPC wallet that can be secured by an arbitrary number of owners and works on any blockchain. Their initial focus is going after the sub-institutional market. Tholos is betting that by making MPC technology easier to use and starting with a lower price point, they can take market share from projects that use multisigs today.
Tholos’s use of MPC represents a meaningful improvement for crypto-native organizations:
MPC is a flexible architecture whereas SAFE wallets are built on smart contracts, meaning you have to upgrade those contracts to change the wallet architecture
MPC allows you to easily connect to any Dapp through WalletConnect, this is not currently possible with SAFE’s
MPC is cross-chain from day one
There is a security improvement in that the private key is never stored or displayed anywhere
We think that Abraham and Peter are the right crypto native founders to go after this market opportunity. They understand this problem deeply, having previously founded ReidarDAO and Coterie Capital. They’ve also recruited world-class cryptography experts like Shalev Keren to help them bring this technology to market.
If you’re interested in using Tholos to securely manage your treasury, reach out and we’ll introduce you to the team.
We’re excited to announce our investment in Tholos, which is building the next generation of crypto-native financial infrastructure. Today most crypto-native organizations run their businesses on top of SAFE multi-sig wallets. Multi-sigs have become a mainstay of crypto - project treasuries, DAO’s, groups of friends all use multi-sigs to jointly store assets.

While multi-sig’s have become a key part of crypto financial infrastructure, they have draw backs. They are smart contract based and so they can be challenging to upgrade. This architecture also makes them single chain by design. Moreover, it can be challenging to interact with the ever growing universe of Web3 apps through a smart contract wallet (as app developers generally have to build a special connection).
What if I told you there was a technology that solved these problems but still provided similar security guarantees as a multi-sig? This is the promise of MPC (Multiparty Computation) which has seen adoption grow steadily over the last few years.
Tholos is building an MPC wallet that can be secured by an arbitrary number of owners and works on any blockchain. Their initial focus is going after the sub-institutional market. Tholos is betting that by making MPC technology easier to use and starting with a lower price point, they can take market share from projects that use multisigs today.
Tholos’s use of MPC represents a meaningful improvement for crypto-native organizations:
MPC is a flexible architecture whereas SAFE wallets are built on smart contracts, meaning you have to upgrade those contracts to change the wallet architecture
MPC allows you to easily connect to any Dapp through WalletConnect, this is not currently possible with SAFE’s
MPC is cross-chain from day one
There is a security improvement in that the private key is never stored or displayed anywhere
We think that Abraham and Peter are the right crypto native founders to go after this market opportunity. They understand this problem deeply, having previously founded ReidarDAO and Coterie Capital. They’ve also recruited world-class cryptography experts like Shalev Keren to help them bring this technology to market.
If you’re interested in using Tholos to securely manage your treasury, reach out and we’ll introduce you to the team.
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