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.
Myshell AI- 73.81%
Sector: AI AGENTS
Status: Active
MyShell AI is a Web3-enabled platform where users create and engage with personalized AI chatbots, or “Shells.” Built on three core components, MyShell features self-developed open-source AI models, an open AI development platform for effortless app creation, and a fair value distribution ecosystem that rewards both creators and users with token incentives. Its AI app Store enables developers to monetize AI apps and users to profit by supporting creators early. Currently operating on Polygon, MyShell plans to migrate to opBNB, a Layer 2 network leveraging Optimistic rollups. With tools for innovation and financialization, MyShell accelerates AI development while fostering a decentralized AI ecosystem.
Key Features
- Create and Use AI Chatbots: MyShell lets users create or use personalized chatbots called “Shells” while earning token rewards for their participation.
- Easy AI App Development: Build AI apps easily with tools, workflows, and the ability to use external APIs or services.
- Open-Source AI Models: MyShell provides free AI models, like text-to-speech and language tools, to help creators. All available on their GitHub.
- Earn as a Creator: Developers make money when their apps are used and can also receive funding or platform rewards.
- AI Marketplace: The AI app Store lets users explore, support, and use AI apps while helping creators succeed.
- Innovation-Friendly: MyShell makes it simple to turn ideas into real, working AI apps quickly.
Investors
My Shell Ai has raised a total of $16.6mn in funding from notable investors such as Hashkey, Binance Labs, DragonFly, Delphi Ventures, INCE capital, OKX, Maven, Folius, Bankless, Nomad, 071labs (Zero Seven One Labs)
Token
$SHELL is the native token driving the MyShell platform, enabling seamless interaction within its ecosystem. With a capped supply of 1 billion tokens, $SHELL is designed to promote scarcity and a deflationary economy. It unlocks premium features, supports creators, and facilitates payments across the platform. Gradual token releases ensure sustainable growth, creating long-term value for holders and participants.
Heurist – 71.90%
Sector: AI, DePin, ZK, L2
Status: ACTIVE
Heurist Protocol is a ZK Layer-2 blockchain revolutionizing AI inference with serverless, cost-efficient access to open-source AI models. It offers low fees, enhanced privacy, and tools like an AI dApp store, a decentralized model registry (dModel Cloud), and SDKs for seamless integration, catering to Web2 and Web3 developers. The platform operates as a decentralized GPU cloud powered by a DePIN protocol, allowing GPU owners to contribute resources permissionlessly. Users can execute AI and GPU-heavy workloads via simple APIs, without the need for technical expertise.
Unlike traditional GPU rental models, Heurist uses a serverless design that abstracts infrastructure management. Adopting a Platform-as-a-Service (PaaS) model, it provides dynamic scaling similar to AWS SageMaker and HuggingFace.
Heurist focuses on AI inference, which constitutes 90% of compute needs in AI, but also supports tasks like small-scale training, model fine-tuning, and ZK proof generation. By enabling a globally distributed GPU network, it ensures efficiency and accessibility for developers to create, deploy, and monetize AI solutions.
Key Features
- Decentralized GPU Cloud
Heurist allows GPU owners to supply computational resources without restrictions, creating a decentralized infrastructure that supports AI and other GPU-heavy workloads. This model ensures widespread access to computational power and reduces reliance on centralized cloud providers. - Serverless Platform-as-a-Service (PaaS)
The platform adopts a serverless design, removing the need for developers to manage hardware or software infrastructure. Developers can focus solely on their applications, with resources dynamically scaled to meet real-time demand, similar to AWS SageMaker or HuggingFace. - Optimized for AI Inference
Heurist specializes in AI inference, which accounts for most of the computational needs in AI workflows. It also supports related tasks like fine-tuning models, small-scale training, and generating zero-knowledge proofs (ZK proofs). - Dynamic and Scalable Infrastructure
Heurist dynamically allocates GPU resources based on usage demands, ensuring efficient and cost-effective operations. This flexibility allows users to scale resources up or down as needed, without additional complexity. - Developer-Friendly Ecosystem
The platform offers an AI dApp store, a decentralized model registry (dModel Cloud), and easy-to-use APIs and SDKs, enabling developers from Web2 and Web3 to create, deploy, and monetize AI solutions effortlessly.
Investors
Heurist recently secured $2 million in pre-seed funding from a group of investors, including Amber, Contago, Manifold, Slini, Sharding Capital, XVentures, Origin Capital, Zephyrus Capital, Mozaik Capital, Steroid Capital, Blue7, and several angel investors.
Token
HEU is the native token of the Heurist Protocol, designed to serve as the backbone of the ecosystem. With a maximum supply capped at 1 billion tokens, HEU facilitates a range of essential functions within the Heurist ecosystem, ensuring seamless interaction and value exchange. Heu’s key utilities include the following:
1. Payment for Compute Resources: HEU is used to pay for computational tasks within the Heurist network, providing a standardized means of accessing services.
2. Staking for Security and Rewards: Users can stake HEU to help secure the network. In return, they earn protocol fees, promoting network stability and incentivizing participation.
3. Governance Participation: Token holders can vote on critical governance decisions, enabling decentralized management of the protocol.
4. Gas Token for Transactions: HEU functions as the gas token for transactions on the Heurist Chain, ensuring smooth operation and efficient transaction processing.
These utilities position HEU as a foundational component of the Heurist ecosystem, supporting its infrastructure and fostering community engagement.
Hybrid – 70.42%
Sector: AI AGENTS
Status: Testnet
Hybrid: Web3’s AI Ecosystem
Hybrid is building Web3’s leading ecosystem of AI experts, agents, and data on an Ethereum-based Layer 2 blockchain. It features two main products: Atlas, a Web3 copilot for integrating on-chain and off-chain data, and the Custom AI Agents infrastructure, which enables the creation and monetization of AI agents using a Mixture of Experts (MoE) framework.
To get started, users connect their self-custodial wallets (e.g., Metamask), participate in testnet activities like bridging tokens, and explore Atlas. Hybrid Points are earned through testnet participation and social quests and can later convert to $HYB tokens at the Token Generation Event (TGE). The testnet offers users a chance to engage with Hybrid’s features and provide feedback before the platform’s mainnet launch. With its plug-and-play approach, Hybrid empowers users to monetize AI innovation and unlock new possibilities in Web3.
Key Features
- EVM-Compatible Layer 2 Blockchain: Hybrid is an Ethereum-compatible Layer 2 blockchain that integrates a Mixture of Experts (MoE) framework, enabling easy creation and monetization of AI agents through a plug-and-play approach.
- Enhanced Data Integrity: The platform ensures high-quality data by incorporating a validation layer with peer-to-peer verification and expert reviews, ensuring reliable data for AI training.
- Decentralized AI Ecosystem: Hybrid includes a secure data layer, a model management interface for AI development and deployment, and a rewards system that incentivizes contributions like data sharing and model validation.
- Lower Barriers to AI Adoption: By reducing the cost and complexity of accessing AI solutions, Hybrid empowers businesses with scalable infrastructure, robust data resources, and decentralized validation networks.
Investors
Hybrid’s is backed by notable investors such as Nxgen, Caldera, Founder Head, XVENTURES, Aethir, and Coinlist.
XNET – 69.05%
Sector: DEPIN
Status: Active
XNET is facilitating connectivity with a decentralized approach to LTE/5G and Wi-Fi 6+ networks, powered by blockchain on Solana. Leveraging Citizens Broadband Radio Service (CBRS) and carrier-grade Wi-Fi offload, XNET empowers community builders to deploy reliable, scalable wireless networks without owning spectrum or extensive infrastructure. By combining Wi-Fi, LTE, and 5G into a seamless Heterogeneous Network, XNET offers solutions that maximize freely available spectrum and modern tech. Builders plug into exclusive carrier agreements and XNET’s LTE/5G core to meet skyrocketing demand for bandwidth. Backed by mobile network veterans, XNET improves decentralized wireless models, offering tools to build and earn in their communities while bridging connectivity gaps globally.
Key Features
- Heterogeneous Network (HetNet): Integrates Wi-Fi 6+, LTE, and 5G seamlessly across multiple spectrum bands to deliver flexible and high-performance wireless connectivity.
- Decentralized Operation: Built on the Solana blockchain, XNET empowers community builders to deploy and manage networks while earning rewards, without owning spectrum or extensive infrastructure.
- CBRS Spectrum Utilization: Leverages the freely available Citizens Broadband Radio Service (CBRS) to enable affordable LTE/5G connectivity in underserved areas.
- Carrier-Grade Wi-Fi Offload: Provides exclusive agreements for traffic offload onto carrier-grade Wi-Fi, enhancing network performance and scalability.
- Crypto-Driven Incentives: XNET leverages blockchain to reward network operators for deployment and maintenance, fostering sustainable, community-driven growth.
Token
$XNET is the native token of the XNET ecosystem, facilitating bandwidth resource exchange between Node Operators (Producers) and Mobile Network Operators (Consumers). Designed to promote sustainable growth and ensure long-term viability, $XNET now operates as an SPL-Token 2022 on the Solana blockchain following its migration in September 2024.
- Supply and Deflationary Model:
- Maximum supply: 2,400,000,000 tokens.
- A deflationary mechanism is implemented through token burns, reducing the total supply over time.
- Revenue and Token Burn:
- 80% of revenue generated by the XNET protocol is allocated to buying back and burning tokens, enhancing scarcity.
- Governance: XNET’s token also serves as the governance token of the ecosystem.
Moonwalk – 61.43%
Sector: AI AGENTS
Status: Active
Moonwalk is a fitness accountability app that combines health and crypto incentives to encourage users to be more active. Users form a crew with friends, set daily step goals, and stake cryptocurrencies like USDC, SOL, or BONK. If they meet their goals or keep pace with their crew, they retain their stake. Those who fall short forfeit a portion of their deposit to the more active members. The app integrates with popular fitness platforms like Google Fit, Apple Health, and Fitbit, making progress tracking seamless.
Key Features
- Financial Incentives for Fitness: Moonwalk combines physical activity with financial accountability by allowing users to stake cryptocurrencies like USDC, SOL, or BONK. This financial stake motivates users to meet their daily step goals.
- Crew-Based Collaboration: Users can assemble a crew of friends or colleagues to participate together. This social component adds accountability and a competitive edge to the fitness journey.
- Customizable Goals and Stakes: The crew’s captain sets the game parameters, including daily step targets, game duration, deposit amounts, and the type of cryptocurrency staked. This allows for tailored experiences based on the group’s preferences.
- Earn or Forfeit Stakes Based on Performance: Participants who meet their step goals or keep pace with the crew retain their staked cryptocurrency. Those who fail to meet the goals forfeit a portion of their stake, which is distributed among the successful members.
- Integration with Popular Fitness Apps: Moonwalk seamlessly connects with existing fitness platforms like Google Fit, Apple Health (via Google Fit), and Fitbit. This integration allows users to track their steps without changing their current fitness routines.
- Timezone-Specific Tracking: The app uses each user’s local timezone, starting and ending the day at midnight. This feature ensures fairness and allows users from different regions to participate without time-related disadvantages.
- Solo and Collaborative Play: While designed for group engagement, Moonwalk also supports solo play. Users can challenge themselves individually for personal accountability and still benefit from the financial incentive structure.
Investors
In October 2024, Moonwalk raised $3.40 million in seed funding from notable investors such as Hack VC, Binance, Reciprocal Ventures, CMS, Flowdesk, Shoe On Ventures, Monke Ventures, Bonk, Syndicate by Boogle, and a group of angel investors.