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.
Mantis – 64.58%
Website | X (Twitter)Sector – Chain Abstraction
Status – Not live yet
Mantis (prev. Composable Finance) is an intent expression and fulfillment protocol with complete interfaces for submission, solver/searcher interaction, and settlement over IB. This innovative approach is set to significantly reduce MEV (Miner Extractable Value) for users while ensuring optimal transaction execution. To further enhance its capabilities, Mantis is actively developing an application that will enable limit orders, swaps, and generalized intents on both Solana and Ethereum.
Mantis synergizes with the Inter-Blockchain Communication (IBC) Protocol via the Picasso Network to deliver secure interoperability. Ultimately, Mantis strives to establish a decentralized market for cross-domain intent expression.
Features
- Generalized intents: An intent is an expression of what a user wants to achieve whenever they interact with a protocol, for instance “transfer X from A to B” or “trade X for Y”. Practically, an intent is an off-chain signed message that encodes which state transitions a user wants to achieve.
- CoWs: Coincidence of Wants (CoWs) is an occurrence when one party’s desired transaction is coincidentally the opposite of another party’s desired transaction. Thus, these two transactions can be used to settle one another as opposed to leveraging a third party intermediary like an exchange.
- Native yield: Mantis Accounts are network-level accounts on the Mantis Rollup that can be used for participating in on-chain actions. Mantis Account users will earn native yield for any assets deposited to the Mantis L2.
- Single and cross-chain OFAs: Order flow auctions (OFAs) are mechanisms for transaction settlement optimization. In the case of Mantis, solvers participate as bidders in the OFA, presenting optimized solutions. Then, the auctioneer selects the winning bidder
Investors
Composable Finance has received investments from top tier VCs including GSR, Coinbase Ventures, NGC Ventures, Spartan Capital, Jump Capital, SOSV and many more.
Token
MANTIS is the native utility token within the Mantis framework. The token will be used to secure the Mantis roll-up, incentivize intent solvers and staking to earning a revenue share.
Nodepay – 60.42
Website | X (Twitter)Sector – AI
Status – Active
Nodepay is a decentralized network that empowers individuals to monetize their unused internet bandwidth and contribute to the training of artificial intelligence. By transforming idle bandwidth into a valuable digital asset, Nodepay creates a decentralized infrastructure that addresses the challenges of data centralization in AI development.
This unique approach by Nodepay provides a valuable resource for AI companies seeking efficient and secure access to public training data, labeling, model sharing, and remote distributed training.
Features
- Sell your unused internet: Nodepay lets you monetize your excess internet bandwidth, which is then used for AI training.
- Nodepay browser extension: The Chrome extension allows users to keep earning from Nodepay in the background while performing routine tasks.
- Earn constantly by being online: Nodepay earnings are proportional to the time for which you stay connected with its network.
- Refer friends & increase your income: You can increase your income by inviting your friends to Nodepay.
- User Dashboard: Nodepay dashboard allows users to track their earnings and contributions in realtime.
Investors
Nodepay investors include Jump, Animoca Brands and Elevate Ventures.
Yellow Network – 64.5%
Website | X (Twitter)Sector – L3
Status – Testnet
Yellow Network is a novel Financial Information Exchange (FIE) platform designed to solve the liquidity fragmentation problem in the crypto industry. It enables direct peer-to-peer (P2P) trading across various networks and brokerages. Inspired by proven strategies from traditional finance, the platform aims to interconnect the blockchain industry and create a more cohesive trading ecosystem.
Yellow Network is a decentralized Layer-3 p2p mesh network that solves the problem of genuinely decentralized trading by allowing participants to swap assets across different exchanges without having to rely on block creation.
Investors
Notable VCs like Moonrock Capital, GSR, and Consensys are a part of Yellow Network’s cap table.
Token
YELLOW is used for settlement fees and collateral insurance within the Yellow Network ecosystem.
XDC Network – 60.42
Website | X (Twitter)Sector – L1
Status – Active
XDC Network is a cutting-edge, enterprise-grade blockchain protocol that operates as a Layer-1, EVM-compatible, open-source hybrid solution. It is designed explicitly for tokenization within decentralized finance (DeFi), focusing on real-world applications. This high-performance platform is optimized for trade finance and asset tokenization, utilizing a unique delegated proof-of-stake mechanism known as XDPoS. This consensus model ensures rapid transaction processing, low gas fees, and an impressive capability of over 2,000 transactions per second (TPS).
Features
- Zero gas fees – The XDC Network offers significant advantages, including near-zero gas fees, making it an ideal choice for cost-effective enterprise applications. It ensures swift and efficient transaction settlements with a block finality time of just two seconds.
- EVM compatibility – This EVM compatibility empowers developers to create autonomous decentralized applications (DApps) on the XDC Network. The network’s high interoperability also allows for integration with legacy systems like SWIFT and ERP, ensuring secure data transfers across platforms.
- Performance & Scalability – The XDC Network can process over 2,000 transactions per second (TPS), significantly outperforming Ethereum’s standard throughput.
- KYC Regulation – The XDPoS consensus mechanism incorporates an independent KYC-based node, effectively addressing challenges related to anonymous network participants.
Token
XDC token serves as the native currency of the XDC Network, which is used for transaction fees, network governance, and staking.
Terrace – 62.5%
Website | X (Twitter)Sector – blockchain
Status – Invite-only
Terrace is a non-custodial crypto trading terminal and broker aggregating centralized and decentralized liquidity. In this way, it abstracts away wallets, chains and venues. Its innovative features include best price routing, advanced order types, synthetic pairs, token screening, and portfolio management on 12 chains.
Terrace can be used for DeFi-only (no-KYC) or to get access to the world’s top CEX, OTC, and MM via its KYC-ed platform. It is like Coinbase Prime, FalconX, DeBank, 1inch/Matcha, Squid/Cow, DEX Screener, etc. rolled into one.
Features
- A master liquidity aggregation, abstraction, and clearance chain where you can trade any and all tokens.
- Unified universal listing: Every token on every chain
- Liquidy, execution, and settlement.
- Crypto’s Decentralized Clearing House: All trades on Terrace Broker (CeFi, DeFi, ATS) and supported subchains are processed and recorded on Terrace chain.
Investors
Terrace is backed by Backed by YCombinator, Hack VC, Hashkey, and more.
Token
TERRACE is a utility of the Terrace chain. It is also the reward token that provides fee discounts and access to gated features on the platform.
