TOKEN METRICS WATCHLIST

This week, we’ve evaluated and scored a variety of promising projects.

Please note that some of these projects are still pending our code review process. However, we wanted to highlight them here, as they have already stood out based on our initial fundamental analysis. Stay tuned for further insights as we continue to assess their potential.

Genlayer- 64.58%

Sector – Infrastructure
Status – Active

GenLayer is an innovative decentralized blockchain platform that enables the execution of AI-powered smart contracts, known as Intelligent Contracts. These contracts utilize advanced AI models to process natural language commands and search the web for relevant data.

What sets GenLayer apart is its ability to seamlessly integrate AI into decentralized applications, allowing developers to build intelligent and autonomous solutions. The platform’s Intelligent Contracts can independently execute complex tasks, make informed decisions, and interact with real-time data. By leveraging AI for non-deterministic operations, GenLayer eliminates the need for conventional oracles, providing a more dynamic and versatile approach to smart contract execution.

Features

Intelligent Contracts: GenLayer’s contracts are capable of interpreting and executing tasks using real-time web data and natural language processing, enabling complex and subjective operations that traditional blockchains cannot handle.
Optimistic Democracy: GenLayer employs a dynamic consensus algorithm powered by AI, where validators connected to various Large Language Models (LLMs) work collaboratively to process transactions. This ensures adaptability and consensus on non-deterministic instructions.
Real-Time Data Interaction: The platform allows Intelligent Contracts to interact with live web data, improving both responsiveness and reliability.
Python-Based Development: GenLayer supports the development of Intelligent Contracts using Python, simplifying the process and making it more accessible to a wider range of developers.
Interoperability: GenLayer is designed to integrate seamlessly with other blockchain networks and traditional web services, enhancing its versatility.

Investors

Cerebo AI- 62.50%

Sector – AI
Status – Active

CerboAI is at the forefront of pioneering the first Proof of Federated Learning and Edge AI Computation, effectively decentralizing Artificial General Intelligence (AGI) through personalized AI edge models and a robust computing network.CerboAI has developed a distributed network that enables multiple nodes to collaborate in the training and inference of AI models. This architecture eliminates single points of failure, enhancing the stability and robustness of the system.

Features

Distributed Network: CerboAI’s distributed network allows numerous nodes to engage in the training and inference of AI models, enhancing system stability and robustness while eliminating single points of failure.
Open Collaboration: The platform fosters open collaboration and shared technology by partnering with various research institutions, developers, and enterprises. This approach promotes the exchange of knowledge and resources, driving innovation and advancements in AI technology.
Decentralized Decision-Making: CerboAI employs a decentralized decision-making mechanism, ensuring that no single entity controls the decision-making process. Utilizing consensus algorithms and distributed protocols, this mechanism enhances fairness and transparency.
Security and Privacy Protection: With a strong emphasis on security and privacy, CerboAI implements advanced encryption and security technologies throughout its design and execution. This safeguards user data and privacy, preventing misuse or unauthorized access.

Tea Protocol- 60.42%

Sector – Infrastructure
Status – Testnet

Tea Protocol is an innovative Web3 solution built on Base, Coinbase’s layer-2 blockchain, aimed at empowering open-source software (OSS) developers to capture the value of their contributions. By recognizing and rewarding projects based on their influence within the broader software ecosystem, Tea Protocol seeks to enhance the sustainability and security of the software supply chain. This approach finally acknowledges the critical role of open-source software deep within the technology infrastructure.

The protocol fosters seamless interaction between projects and communities, encouraging participants to report bugs or vulnerabilities to maintainers for prompt resolution. This transparency promotes collaboration among contributors with aligned goals. Additionally, a universal scoring system quantifies each project’s impact within the open-source ecosystem, driving healthy competition as projects strive to improve their code and increase usage to enhance their ranking.

Proof of Contribution – Proof of Contribution is Tea Protocol’s innovative consensus mechanism designed to measure the impact of projects across the entire open-source ecosystem. It assigns a dynamic score, known as teaRank, which reflects each project’s influence within the broader ecosystem over time.

Investors

Token

The $TEA token has a total supply of 10 billion. The protocol generates fees from various activities conducted by OSS projects as they onboard and engage with their communities. A portion of these fees is distributed to $TEA token holders who actively participate in the decentralized network. Additionally, holding $TEA tokens allows users to engage in decentralized governance, enabling them to propose critical changes to the protocol, such as determining which OSS package managers should be supported by the Proof-of-Contribution consensus mechanism.

Pharos- 62.50%

Website

Sector – Layer 1
Status – Not yet launched

Pharos is an ultra-fast Layer 1 EVM-compatible blockchain designed for internet-scale applications and payments, offering trustless and decentralized solutions. As a full-stack parallel blockchain, it is at the forefront of hyper-parallelism, revolutionizing the efficiency and scalability of blockchain technology.

Features

Scalability: Pharos offers full compatibility with Ethereum decentralized applications (dApps), allowing EVM developers to utilize their preferred toolchains. It significantly reduces storage costs by 80% and supports a billion-level account capacity with global deployment and equitable access. Users benefit from transactions that are 100 times faster at lower costs, delivering an unmatched experience.
Security: Pharos natively supports light client protocols for PB-level data volumes while employing advanced security technologies, including optimal Byzantine fault tolerance in consensus, auditability and formal verification during execution, and authenticated storage solutions. These features ensure robust security across all levels of the network.
Adaptability: Pharos showcases dynamic extensibility through modular and real-time SPN networks, leveraging geographical decentralization and supporting a diverse range of software and hardware. By embracing WebAssembly (WASM), Pharos caters to a wide array of developers and ensures virtual machine interoperability, driving on-chain innovation.
Dual VM Parallel Execution: A parallel dual VM (EVM and WASM) execution layer with advanced compilation techniques.

Agentlayer- 58.33%

Sector – AI
Status – Active
FDV – $16M

AgentLayer is a decentralized AI blockchain protocol that is purpose-built for the collaboration and coordination of autonomous AI agents. Its vision is to drive innovation and progress across a wide range of industries and professions by facilitating seamless multi-agent cooperation. It provides a decentralized, permissionless, secure, and reliable network where autonomous AI agents can collaborate and coordinate. Powered by generative AI and large language models (LLMs), AgentLayer enables AI agents to autonomously make decisions and complete tasks with minimal human oversight.

AgentHub is a platform for developers to manage their AI agents, allowing the integration of agents from AgentStudio and those built with third-party libraries and hosted on external infrastructure.

AgentStudio, built on the robust open-source project DIFY, offers an array of features tailored to enhancing agent development within the AgentLayer ecosystem. With its user-friendly interface and low-code tools, users can easily create chatbots, agents, and agentic workflows directly through AgentStudio.

Investors

Token

The $AGENT token is central to AgentLayer’s economic model, with applications in online transactions, node incentives, agent transactions, governance, user rewards, liquidity mining, and staking. It coordinates the participation of developers, node operators, and users, facilitating network value circulation and maintaining ecosystem balance for sustainable growth.Furthermore, $AGENT token holders enjoy governance rights, allowing them to participate in decision-making and fund allocation, thereby promoting transparency and fairness. AgentLayer has established a vibrant and active AI agent ecosystem through these mechanisms.