TOKEN METRICS WATCHLIST
We scored many projects this week. Here are a few you should know about:
- Gravity
- Obscuro
- OlaVM
- D8X
- GameSwift
- Pragma Oracle
Please keep in mind that some of these projects have not yet been subjected to our code review process, but we want to call them out here for preliminarily catching our eye based on our fundamental analysis process.
Gravity (82%)
Website – Documentation
Gravity Market is a new standard in crypto derivatives trading, designed to eliminate counterparty risk, maximize capital efficiency, and offer complete privacy as the first CEFI and DeFi hybrid derivatives exchange.
Why we like it
The fall of FTX has created a need for a new, fully compliant, institutional-grade, and trustless trading venue for the cryptocurrency market. This presents an opportunity for Gravity, whose core team has extensive experience in leading financial institutions and technology firms. Gravity offers an innovative, trustless trading solution that fully utilizes blockchain technology to provide privacy, speed, and institutional-grade service. It is a true hybrid of CEFI and DEFI trading. Furthermore, Gravity has a clear path to technology-driven product expansion, with plans to become a trustless, institutional-grade trading venue covering a broader range of instruments.
Investors
The Team
Token Utility
TBA
Where can you buy the token
TBA
Obscuro (80%)
Website – Documentation
Obscuro is a layer 2 solution for Ethereum that brings privacy and scale. It ensures the inputs, contract state and execution are always encrypted. No changes to dApps, just migrate and gain privacy. It is a general-purpose, privacy-first Ethereum L2 solution that sits between Optimistic and ZK rollups. It leverages Trusted Execution Environments to benefit from the best of both worlds.
Why we like it
Obscuro’s core team is part of the team that built Corda, regarded as the world’s most successful enterprise blockchain platform. Corda is used by the world’s leading banks, financial institutions, insurance institutions and telecommunications. Which is valued at $1B.
- The market for privacy and scalability solutions on Ethereum is growing rapidly.
- Obscuro targets developers and users seeking privacy-focused applications and lower gas fees.
- Key features include full decentralization, privacy, data confidentiality, and MEV prevention.
- The platform’s competitive advantages include general-purpose capabilities and compatibility with existing Ethereum smart contracts and developer tools.
- Obscuro is an Ethereum L2 solution that leverages Trusted Execution Environments (TEEs) for privacy.
- Picture these scenarios: 1️⃣ No privacy: Alice sends 1 BTC to Bob. Everyone sees this. 2️⃣ Transactional privacy: Unknown sender sends unknown amount of BTC. Balances update. Everyone sees this. 3️⃣ Computational privacy: Nothing is leaked. No one knows about the transaction.
Investors
The Team
Obscuro’s core team was the part of the team that built Corda.
Token Utility
The Obscuro token, OBX, serves several purposes. It provides a reward to incentivize node operators to correctly operate Obscuro nodes and provide a reliable service, acts as a medium in which users can pay transaction fees and node operators can pay their stake and receive rewards to cover operational costs, serves as a means to vote on proposals for changes to Obscuro via a governance model, and provides a means to fund and incentivize the ongoing development of the Obscuro ecosystem via development opportunities, grants, and competitions.
Where can you buy the token
TBA
OlaVM (78%)
Website – Documentation
OLA is a modern platform that makes it easy to create scalable and private programs. We focus on making it simple for developers by using efficient design principles. This allows us to achieve fast execution times, strict state transition requirements, and quick Zero-Knowledge (zk) execution. Our backend handles the complexity of Zero-Knowledge and Parallel Execution logic while prioritizing privacy. This encourages innovation in protocol business logic built on top of Ola.
Why we like it
An impressive combined investment of $417,100,000 in Aleo and Aztec, from their Seed to Series в rounds, demonstrates significant engagement and interest in privacy-first platforms. Similarly, ZKSync and StarkWare have raised a total of $536,000,000 through their Seed to Series D rounds, highlighting the market demand for scaling solutions.
OlaVM is positioning itself to deliver an easy-to-use platform that caters to the market segment requiring both privacy and scaling. This presents immense growth potential. We’re confident that there is a need for solutions that offer privacy and scaling to the Ethereum ecosystem, as well as many other public blockchain ecosystems.
Investors
Raising $4M to a valuation of $40M lead VC’s taking part in the round are Foresight Ventures and Web3.com
Team
The executive team comprises five individuals, boasting a perfect blend of highly experienced developers with expertise in all the intricate aspects of a ZKVM. Diversity, industry-relevant experience, and extensive geographical and cross- market coverage position Ola at the forefront of providing a state-of-the-art platform.
Token Utility
TBA
Where can you buy the token
TBA
D8X (76%)
Website – Documentation
D8X is an institutional grade perpetual futures DEX on Polygon, based on derivative pricing and risk management methodologies from traditional finance, novel to DeFi. This approach allows D8X to offer best-in-class trading conditions, low liquidity requirements and extends to lower liquidity assets.
Why we like it
Decentralized exchange that makes money through PNL, exchange fees, and bid-ask spreads. They distribute exchange profits to delegators in governance and have an advanced governance system. Their token has core functionalities such as lowering trading fees and serving as a governance token. They differentiate themselves from competitors by not speculating on investors who want to go 800x leverage and are integrating Squid for cross-chain collateral functions. One main problem they are solving is high holding costs for launching hedging strategies, which they address with a default fund cover-end approach.
Investors
Polygon Ventures & Verum Capital
The Team
The founding team behind D8X has a software, financial and economic engineering background. The team built and deployed a global stress testing infrastructure and fixed-income derivative pricing approaches for T1 banks and an MIT-lic. perpetual protocol on BSC.
Token Utility
The token ($D8X) grants trading cost discounts and governance rights. Token holders that participate in governance are compensated for their service to the protocol with a part of the protocol’s revenue.
Where can you buy the token
TBA
GameSwift(75%)
Website – Documentation
GameSwift is an innovative layer 1 blockchain network that aims to revolutionize the gaming industry. It provides a modular platform for game developers to launch their game dApps on zVM, with a settlement layer and execution layers based on zk rollups. This allows for faster and more secure transactions, as well as increased scalability.
Why we like it
One of the most exciting features of GameSwift is its GameSwift Platform, which enables gamers to play web3 games with just one click and without any blockchain knowledge. This means that gamers can enjoy all the benefits of blockchain technology without having to navigate complex technical processes.
In addition to this, GameSwift also offers a range of other features to enhance the gaming experience. For example, gamers can create their own web3 gaming identity by connecting their social media accounts, and discover their favorite web3 games. They can also download and launch games without any external extensions, securely store and trade in-game assets across different blockchains, cash out their digital assets with just one click using GameSwift Pay, and even pay for their daily activities with in-game assets.
Overall, GameSwift is an exciting new platform that is set to transform the gaming industry. With its modular blockchain network, innovative features, and focus on user experience, GameSwift is well-positioned to become a major player in the world of web3 gaming.
Investors
Polygon Ventures
The Team
Token Utility
GSWIFT is a token required for validating and paying transaction fees on the GameSwift layer 1 blockchain. The token is essential for validating transactions on zkEVM roll-ups and benefits from the shared security model introduced by the platform’s modular technology, enabling deployment of app-specific rollups on top of the GameSwift Chain. GSWIFT accrues a real yield generated by the platform from multiple revenue streams, including a subscription-based model for games (B2B), in-app purchases and NFT sales (B2B), swap/aggregator fees (B2C), cash-out fees (B2C), battle passes, and premium accounts (B2C). Additionally, GSWIFT provides benefits for GameSwift Pay users, with higher tiers and cashback rates based on the amount of GSWIFT staked, similar to Crypto.com and Binance Card.
Where can you buy the token
TBA
Pragma Oracle (74%)
Website – Documentation
Pragma is a zk-native oracle offering an on-chain and composable data infrastructure to power Defi and crypto. Pragma provides price feeds for crypto assets, equity, forex, commodities, and derivatives, including options. A unique feature of Pragma is computational feeds. You can directly access a yield curve, realized volatility, Twap feeds etc. directly on-chain. Oracle offering decentralized & composable data built on StarkNet.
Why we like it
Pragma is leveraging cheap computation by offering a unique feature in the oracle world: computational feeds, allowing protocols to get data that goes beyond spot prices and unlock new use cases. Currently, these oracles require a third party, such as an institution or a decentralized network of node operators to submit data on-chain that becomes public to users and smart contracts. This assumption of trust is currently inevitable, yet not ideal (though several teams are working on minimizing this trust requirement such as Pragma)
Investors
TBA.
The Team
Token Utility
Main utility of token is L3 decentralization, which includes a proving layer, sequencing layer, data market, token for the data market, inflation/deflation based on token velocity, governance power, key protocol parameters, and upgradability.
Where can you buy the token
TBA
