TOKEN METRICS WATCHLIST

We scored many projects this week. Please remember that some of these projects still need our code review process. Still, we want to call them out here because they preliminarily caught our eye based on our fundamental analysis process.

LogX- 62.50%

Sector – Perp DEX
Status – Testnet

LogX is a prominent perpetual decentralized exchange (DEX) operating across over 15 networks. The platform combines a user-friendly interface with rapid order matching, leveraging its proprietary scalable infrastructure. LogX is actively expanding by developing a high-performance, low-cost modular trading network powered by Arbitrum, Avail, Hyperlane, and Altlayer. The LogX Network is designed to function as an omni-chain clearing house, capable of matching and settling trades across multiple blockchain networks. This innovative architecture enables LogX to seamlessly integrate into emerging ecosystems, such as Berachain and Bitcoin Layer 2 solutions, establishing it as a preferred platform for advanced and efficient trading solutions.

Features

Exceptional Performance: The LogX Network is capable of processing over 30,000 transactions per second (TPS) with an approximate latency of 100 milliseconds, providing a smooth and uninterrupted trading experience.
Gasless Trading: The platform offers a trading experience similar to centralized exchanges (CEXs), featuring zero gas fees and one-click trade execution.
Multi-Asset Support: In addition to derivatives, the LogX Network supports a wide range of asset types, fostering a diverse and dynamic trading ecosystem.
Scalability Across Blockchain Networks: Designed for scalability, the LogX Network is compatible with over 50 blockchain networks, ensuring extensive reach and broad compatibility.

The LogX Network is a comprehensive ecosystem supporting a variety of retail consumer products. It features Perpetuals Trading with over 100 pairs, offering gasless transactions and instant order matching. The platform introduces Leveraged Prediction Markets, the first on-chain market with up to 20x leverage, and offers optimized Spot Trading with low latency and high liquidity. LogX also includes a Meme Coin Launchpad, providing a gasless platform for creating and trading meme coins, and supports Real-World Assets (RWAs) by enabling on-chain fractional ownership and trading of real estate assets.

Investors

Token

The LogX Network is closely integrated with its native token, $LOGX, which serves several essential functions. As the official gas token of the network, $LOGX powers all transactions, ensuring seamless operation across the platform. Designed with multiple utilities, $LOGX enhances functionality and user engagement within the system. Additionally, $LOGX holders enjoy trading fee discounts on the LogX Network; the more tokens held or staked,

Forty-Two Network – 60.42%

Sector – AI
Status – Not yet launched

Fortytwo Network is a decentralized, peer-to-peer hive intelligence platform designed to exceed the capabilities of centralized Large Language Models (LLMs), such as GPT-4. The network employs an innovative approach known as Super Inference, which allows AI agents to collaborate in generating and refining responses. This process is governed by a unique consensus mechanism called Proof-of-Intelligence (PoI), where nodes evaluate and validate outputs based on their accuracy and quality.It seeks to offer a scalable, accessible, and privacy-focused alternative to traditional centralized AI providers.

Features

Key features of Fortytwo Network include:

Cost Efficiency: Provides inference costs up to 100 times lower than those of centralized LLMs.
Enhanced Accuracy: Achieves a 50% improvement in accuracy compared to GPT-4.
Infinite Scalability: Leverages consumer-grade hardware to achieve scalability beyond current centralized solutions.

Decentralized Consensus: The PoI mechanism ensures a more equitable and democratic distribution of validators, strengthening the network’s decentralization.

Cygnus Finance- 58.33%

Sector – Layer 2
Status – Not yet launched.

Cygnus is a modular real yield layer designed to bridge non-EVM systems, such as TON, with the EVM ecosystem. It offers a yield-bearing Liquidity Validation System (LVS) that provides services for any system requiring its own distributed validation semantics for verification. Through this system, users can participate in ecological liquidity security protection while automatically earning staking yields, LVS fees, and incentives from other systems.Previously, Cygnus Finance operated as a real-world asset (RWA) stablecoin protocol, focusing exclusively on short-term U.S. debt assets.

Features

Modular Yield Layer: Cygnus Network offers a programmable zero-knowledge (ZK) solution as an EVM-native layer with zero gas fees, providing a 10x cost reduction and a scalable environment for yield-generating infrastructure and applications.
EVM and Non-EVM Integration: The platform supports a hybrid model of on-chain and off-chain yield, allowing users to benefit from a range of assets—including cgTON, cgUSD, cgBTC, and cgETH—across multiple ecosystems.
User-Friendly Onboarding: Cygnus Network incorporates the Telegram App SDK to simplify entry for traditional users, providing seamless access for over 1 billion Telegram users to engage with the ecosystem.
Yield-Bearing Liquidity Validation System (LVS): The LVS offers services for systems requiring distributed validation semantics. It enables users to actively participate in the network’s liquidity security while automatically earning staking yields, LVS fees, and other incentives.

Token

$CYGNUS is the native token of the Cygnus Network, which is structured to enhance on-chain activities and create value for its token holders, contributors, builders, and users. Token holders gain from the adequate reinvestment of sequencer revenue and gas savings achieved through modular data availability (DA). The revenue generated from sequencers and the savings on DA gas fees is predominantly used to fund on-chain activities and zero-knowledge (zk) applications, increasing the demand for blockspace.

Reddio – 58.33%

Sector – Layer 2
Status – Testnet

Reddio is a sophisticated Ethereum-compatible Layer 2 (L2) solution designed to improve blockchain performance while preserving compatibility with the Ethereum ecosystem. Utilizing zero-knowledge (zk) technology, Reddio achieves significant computational scalability without compromising the security of Ethereum. The platform incorporates several advanced features, including Parallel Execution, GPU Acceleration, and a Modular Sequencer. These innovations enable Reddio to process transactions more efficiently, enhance smart contract performance, and offer a flexible, developer-friendly framework for constructing decentralized applications (dApps) on both Layer 2 and Layer 3.

Features

Multi-thread Parallel Execution: This feature allows all transactions within a single block to be executed in parallel across multiple threads, utilizing multi-core servers to achieve high throughput and minimize transaction fees.

GPU Acceleration Optimization: By leveraging NVIDIA’s CUDA parallel computing engine, the execution of the EVM instruction set has been optimized for GPU machines, significantly enhancing performance compared to traditional multi-threaded parallel execution.

High Security with ZK and Ethereum: This is the first Layer 2 solution to achieve parallel acceleration for zkEVM, combining high performance with robust zero-knowledge proofs for enhanced security on Ethereum.

EVM Compatibility: Bytecode-level compatibility facilitates a seamless transition to Layer 2, ensuring that Solidity smart contract code operates efficiently on the new layer.

Investors

Hourglass- 58.33%

Sector – DeFi
Status – Active

Hourglass is a protocol that facilitates liquidity for time-bound and semi-fungible tokens. The Hourglass Protocol enables users to set specific periods during which actions or transactions involving hourglass assets are restricted. These time periods help mitigate excessive volatility or manipulation of the assets. The protocol facilitates liquidity for time-bound and semi-fungible tokens, specifically designed for tokens that derive their value from an underlying asset or a basket of assets. Typically, these tokens are denominated in a base currency such as ETH or USD and possess three core characteristics: risk, time (duration), and yield.

Hourglass Protocol has two components –

Hourglass Boost: Boost is a platform that helps protocols manage duration risk by incentivizing long-term users. It addresses the mismatch between short-term deposits and long-term asset commitments, akin to the traditional banking system. By offering enhanced incentives for long-term participation, Boost reduces the risk of sudden withdrawals.
Hourglass Marketplace: The RFQ (Request for Quote) system provides liquidity for semi-fungible and time-bound tokens. Unlike DeFi’s significant apps, which pool fungible tokens, Hourglass uses an RFQ system to connect protocols directly with market makers for accurate asset valuation. The Marketplace settles intents through Seaport and is accessible via the Hourglass SDK.