2024 at MitonC: Six new investments and Filip Široký as General Partner

Starting with the numbers:

• In 2024, MitonC invested over $7M in new projects and follow-on rounds (e.g., Confirmo, Firefish).
• The total value of MitonC's crypto portfolio is currently around $90M.
• Major projects like Confirmo generate revenue in the hundreds of millions of dollars, while others, like Marinade, safeguard assets worth billions.

What does Filip do in his new role? “It’s still the same thing, just with a better title. My job is to increase the value of MitonC’s portfolio, whether through finding new investments or working with portfolio companies,” says Filip. What has he learned in the past year? “That world-class crypto projects can be built here in Prague.”

Now, let’s dive into MitonC’s new investments.

MegaETH

The fastest blockchain (~400x faster than Solana) and a scaling solution for Ethereum, where MitonC invested alongside Ethereum co-founder Vitalik Buterin. Expectations for MegaETH are sky-high, aiming to become the largest blockchain in the future.

“It enables applications with UX as seamless as those we’re used to in web2 apps. In addition to the platform itself, we’re also betting on applications built on MegaETH that already have strong product-market fit in crypto, such as stablecoins and decentralized exchanges,” says Filip.

Background: Filip actively sought a team with ambitions to build a product like MegaETH. After meeting with the founders in Denver, Filip secured an allocation for MitonC in the highly oversubscribed seed round.

GTE

“Long-term, we believe all financial transactions and digital value transfers will move to the blockchain. To get there, we first need the holy grail of DeFi: a super-fast blockchain exchange that can rival Binance or Coinbase. That’s GTE. Expect an exchange that embodies DeFi while fully competing with CeFi—combining the performance of centralized exchanges with the security and transparency of blockchain,” explains Filip.

We at @MitonC_ are hyped to back @GTE_XYZ

Long term, the entirety of finance and digital value transfer will move onchain.

To get there, we need to create the holy grail of defi: a megaperformant robust onchain clob where the price discovery of bluechips can happen.

This… https://t.co/PIb3BSQdqf

— Filip Siroky (@fisiroky) January 16, 2025

Background: In May 2024, Filip was invited by the founders of MegaETH to Berlin, where flagship projects on MegaETH were being created in a coworking space. Filip was one of the first investors globally to meet the teams, later leading MitonC’s investment into selected projects, including GTE.

Showdown

Former #1 Magic and Hearthstone players Ondřej Stráský and Stan Cifka have created a new game based on poker with elements of trading card games like Magic. “It’s the flagship game on MegaETH,” says Filip.

Word from our community. pic.twitter.com/EfhaXCIFka

— Showdown (@Showdown_TCG) November 21, 2024

Background: Showdown is a passion project for Filip. Initially, the game was created in physical form as a gift from Stan to David of MitonC. Filip was immediately intrigued, and within weeks, MitonC co-founded the Showdown company and invested $200k to kickstart the project in its digital form. Filip also contributed to strategy and growth. Months later, the four-person Showdown team spent a month in Chiang Mai, Thailand, at MegaZu (video report), collaborating with ~30 other founders of MegaETH applications and pitching the project to Vitalik himself.

Mode: Ideation, founding investor, co-builder.

Accountable

The crypto lending sector is still recovering from the 2022 market crash, marked by the collapse of major players like Celsius and Genesis. Innovations in cryptography, such as zkTLS and FHE, now enable full transparency and privacy in undercollateralized lending. These breakthroughs rebuild trust and efficiency, laying the foundation for a revitalized and thriving crypto lending market.

We at @MitonC_ are proud to back @AccountableData

The crypto lending sector has been struggling to recover from the 2022 market downturn, marked by the collapse of major players like Celsius and Genesis.

Programmable cryptography is reshaping the game. Innovations like zkTLS… https://t.co/9jqp69jjit

— Filip Siroky (@fisiroky) December 31, 2024

“We believe crypto can create a fair and transparent financial infrastructure for everyone. No one is better prepared to lead this transformation in crypto lending than Wojtek from Accountable,” says Filip, with MitonC acting as the lead investor.

Valhalla

Similar to GTE, Valhalla is a fully decentralized exchange on MegaETH but focused solely on perpetual financial derivatives. “Perps” are the most used product in crypto trading, enabling traders to leverage or hedge their positions.

We at @MitonC_ are thrilled to back @valhallaperps

Perpetuals exchanges have traditionally been siloed, limiting market access and innovation. Valhalla goes fully-onchain, enabling protocol-level composability and powerful synergies across MegaETH's DeFi landscape.

Ascend to… https://t.co/MCFTdiYYSl

— Filip Siroky (@fisiroky) December 20, 2024

Perena

Stablecoins remain crypto’s primary use case, but fragmented liquidity across numerous issuers presents significant challenges. Perena is building core infrastructure to streamline and enhance stablecoin liquidity, unlocking their full potential for mass adoption.

Background: The MitonC team was introduced to Perena by Michal Repetný from Marinade. The founding team consists of members from the Solana Foundation, and pre-seed round co-investors include Binance.

Are you Interested?

• Find out more about MitonC on their (concise) website.
• You can also follow Filip on Twitter.