TOKEN METRICS WATCHLIST
We scored many projects this week. Here are a few you should know about:
- Venice
- Morph
- Reploy
- MinionLab
- OpenLedger
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.
Venice – 78.10%
Website | X(Twitter)
Sector – Generative AI
Status – Active
Venice is a privacy-focused generative AI platform that launched in May 2024. The protocol operates on the Ethereum layer 2 network, Base. It offers permissionless access to open-source AI models for generating text, images, and code without requiring downloads or accounts for basic use.
Venice ensures user privacy by storing conversations only in local browsers and encrypting data during transmission to GPUs and back. It has gained significant traction, with more than 2.4 million visits to its website in the last month. The platform has over 400,000 registered and 50,000 daily active users, handling 15,000 inference requests per hour. The team also opened API access to the public, supporting AI agents, developers, and third-party applications.
Features
- Local Data Storage: All conversations are stored locally on the user’s device, preventing logging and surveillance, as opposed to centralized data storage for many leading AI platforms.
- Decentralized GPUs: The platform processes AI inference through decentralized GPU networks, reducing reliance on centralized systems.
- Open-Source AI Models: Venice integrates top-tier open-source models like DeepSeek r1, Llama 3.3, and others, thus democratizing access to advanced AI.
- Uncensored AI: Venice is designed to be censorship-resistant, offering users an AI interaction free from content moderation. Thus, it appeals to users seeking unrestricted creativity and research.
- User-Friendly Access: No account is required for basic use, reducing the entry barrier.
- Pro Features: PDF uploads for summaries or insights, ability to turn off Safe Mode, modify system prompts, unlimited text inputs, and high image generation limit.
Token
$VVV is the native utility token of the Venice AI platform. It is designed to facilitate API access so users can interact with AI models for text, images, and code generation at zero marginal cost through staking. The token launched on January 27th without any pre-sale and quickly climbed to more than $1B of fully diluted valuation. The total supply for the token at TGE is 100 million, of which 50% was airdropped to the community, 25% was allocated to Venice users, and 25% to the crypto AI community on Base.
Staking for $VVV is live, granting years of proportional access to Venice’s API capacity, and for example, staking 1% of the total $VVV grants 1% of the API capacity, while stakers also earn emission-based yield.
Where can you buy the token?
The $VVV token was launched on Base and is available to trade on associated decentralized exchanges like Uniswap and Aerodrome and centralized exchanges like Coinbase, KuCoin, Gate.io, MEXC, and others.
Morph – 75.24%
Website | X(Twitter)
Sector – Consumer L2
Status – Active
Morph is a layer 2 blockchain built on Ethereum that focuses on consumer-centric decentralized applications. It combines the benefits of Optimistic and Zero-Knowledge (ZK) rollup technologies to provide a robust, decentralized platform, making scalable and secure everyday applications possible.
Features
- Decentralized Sequencer Network: Morph introduces a decentralized sequencer that eliminates single points of failure, reduces transaction censorship, and prevents monopolies over Miner Extractable Value (MEV).
- Hybrid Rollup Technology: By merging Optimistic and ZK rollups, Morph offers unmatched scalability while ensuring high security and privacy. This dual approach allows faster transaction confirmations and lower costs than traditional L1 solutions.
- Responsive Validity Proof (RVP) System: This system enhances the efficiency of transaction validation, aiming to reduce the time and computational resources needed for verifying transactions, thus speeding up the overall network performance.
- Modular Design: The modular design allows for the independent evolution of components. It facilitates upgrades, maintenance, and scalability without disturbing the entire network.
- Consumer-Centric Focus: Morph targets mainstream adoption by focusing on applications in gaming, social media, music, and the arts, not just DeFi.
Investors
Reploy – 69.52%
Website | X(Twitter)
Sector – AI Infrastructure
Status – Active
Reploy is an AI-powered platform that provides specialized large language models and APIs explicitly designed for Web3 development. It provides tools for building, deploying, and managing blockchain applications, focusing on ease of use, efficiency, and integration with AI technologies. The LLM models are trained on blockchain data and optimized for smart contract development, market analysis, and autonomous agent creation.
Features:
- AI-Powered Browser Code Editor: A unique AI editor that assists in coding and deploying smart contracts directly from the browser, with features like real-time security analysis and AI suggestions.
- Multimodal LLM Architecture: LLM has under 400ms latency, providing developers with over 71 unique endpoints tailored for blockchain development, from chat apps to trading bots.
- Reploy Agentica: An ultra-lightweight language model (0.5B parameters) designed for lightning-fast reasoning and interaction with blockchain operations, enhancing the efficiency of AI-driven tasks.
- Subscription and Token Model: The company offers flexible payment options, including $RAI, ETH, USDT, and soon fiat, for accessing its services. Its unique revenue share system benefits token holders through token burning and profit distribution.
Upcoming Products:
- Fissure: AI-powered visual development platform for building decentralized applications without code.
- Coralys: Automated AI trading agents that execute sophisticated strategies with autonomous wallet control.
- Lumet: Cloud-based AI development platform for generating and managing dynamic smart contracts.
Token
$RAI is the native utility that powers the Reploy ecosystem through a fair distribution model and sustainable tokenomics. The initial public circulation includes 48% of the total supply and 32% distributed through a fair public sale, ensuring broad token distribution and community ownership. 14% is allocated to project development efforts like maintenance, marketing, and ecosystem growth.
Utility:
- API Access: Stake $RAI for premium API features and increased rate limits.
- Governance: Protocol governance and feature prioritization.
- Revenue Share: Earn a share of revenue generated by Reploy its ecosystem.
Where can you buy the token?
$RAI is available on centralized exchanges like LBank, MEXC, and BingX and decentralized exchanges like Uniswap and Matcha.
MinionLab – 69.52%
Website | X(Twitter)
Sector – AI Agents
Status – Active
Minion Labs is a decentralized network of AI agents, known as “Minions,” that operate on user devices to gather real-time data from the internet. It innovates by allowing users to contribute their idle computing resources to support AI data mining tasks, earning $MINION tokens in return. The project aims to bridge the gap between AI’s data needs and traditional data-scrapping methods by creating a decentralized, community-powered data ecosystem.
Features
- Decentralized Data Mining: Minion Labs deploy Minions that mimic human browsing behavior to collect data autonomously, creating a decentralized alternative to centralized data scraping.
- AI Agents with Personality: Each Minion has a unique personality and can learn, adapt, and improve its data-gathering capabilities, setting it apart from traditional bots or scrapers.
- Open to All Devices: Minions can be installed as a browser extension, Android app, or desktop application, making participation accessible across different user bases and devices.
- Decentralized Browser Runtime: Minion Labs provides what they claim to be the world’s first decentralized browser runtime built explicitly for AI agents, allowing for secure and private data collection.
Investors
Token
$MINION is the native utility and governance token of the Minion Labs ecosystem.
Utility:
- Network Access: Stake $MINIONS to run Minions and access the network’s data-mining capabilities.
- Governance: Voting on protocol upgrades and participation in DataDAO decisions.
- Reward Distribution: Rewards for Minion owners and incentives for module developers and network validators.
OpenLedger – 68.57%
Website | X(Twitter)
Sector – Data AI
Status – Testnet
OpenLedger is focused on creating decentralized infrastructure for AI development, explicitly targeting the need for high-quality, verifiable data for AI agents. It aims to revolutionize how AI systems are developed and monetized by decentralizing data sourcing and model training. OpenLedger’s ecosystem includes specialized language models (SLMs), datanets for data curation, and a mechanism for rewarding data contributors known as Proof of Attribution.
Features
- Decentralized Data Sourcing via Datanets: The platform gathers and curates domain-specific data, ensuring AI models are trained on high-quality, relevant datasets.
- Specialized Language Models (SLMs): These are custom AI models developed for niche applications, from chatbots to trading systems.
- Proof of Attribution: A core feature where data contributors are identified and rewarded for their contributions to AI models.
- Payable Models: Access models on a pay-as-you-use basis with a mechanism to distribute rewards back to data contributors.
- Decentralized AI Agent Ecosystem: Supports creating and deploying AI agents that can interact with users, perform tasks, or manage data.
Investors
