TOKEN METRICS WATCHLIST

We scored many projects this week. Here are a few you should know about:

Astroport Finance
Shrapnel
Zypher
Mezo
Based AI

Please remember that some of these projects still need to undergo our code review process. Still, we want to call them out here because they preliminarily caught our eye based on our fundamental analysis process.

Astroport Finance- 66.67%

Sector – Dex
Status – Active
FDV – $152M
TVL – $89.09M

Astroport is one of the significant DeFi platforms in the Cosmos ecosystem, providing a neutral marketplace where users can exchange assets in a decentralized, non-custodial manner. It enables decentralized, non-custodial liquidity provision and price discovery for any crypto asset.

Astroport aims to become the prevailing next-generation AMM for the Cosmos ecosystem, with deep liquidity pools and significant trading volumes, serving as Cosmos’s underlying liquidity layer.

Astro Pools – Astroport’s versatile architecture enables developers to seamlessly introduce new pool types with minimal adjustments to the core protocol code, fostering innovation within the ecosystem. The platform supports a range of pool types, including passive concentrated liquidity pools, constant product pools, and stableswap pools, catering to diverse trading needs and adapting to fluctuating market conditions.

Astro Generators: Within Astroport’s unified and efficient automated market maker (AMM) system, liquidity providers (LPs) have the flexibility to select from multiple pool types, enhancing their ability to provide liquidity effectively. LPs can also participate in “dual farming,” earning ASTRO tokens and governance tokens from other platforms simultaneously, thereby addressing the challenge of managing rewards and fees across various platforms.

Astroport, developed from scratch in Rust, integrates the most successful elements of six years of Ethereum blockchain development. It extends its capabilities to multiple blockchains through a distinctive hub and outpost model. The platform offers support for three liquidity pool types, including Uniswap’s Constant Product formula pools, Curve’s StableSwap Invariant formula pools, and Passive Concentrated Liquidity pools, providing users with a variety of options for liquidity provision and trading strategies.

Token

$ASTRO is the native token of Astroport Finance. $ASTRO utility is realized through xASTRO on Terra 2 (and xASTROC on Terra Classic). Holders of ASTRO can stake their tokens in the xASTRO pool to receive xASTRO tokens, granting them governance power and a share of trading fees. xASTRO is inspired by SushiSwap’s xSUSHI token and pool, offering fee-sharing and governance rights. Holders receive a portion of trading fees from the Astral Assembly’s pool, initially set at half and adjustable by $ASTRO governance. They can also participate in Astroport’s governance by voting and proposing changes, including decisions on incentive allocation.

Where can you buy the token?

You can buy $ASTRO from exchanges like Astroport (Neutron), Astroport (Injective) and CoinEx

Shrapnel- 64.58%

Sector – Gaming
Status – Active
FDV – $587M

Shrapnel is a first-person shooter game developed on the Avalanche blockchain. It offers a hardcore extraction shooter experience in a post-apocalyptic setting. Players scavenge for resources, craft weapons and armor, and combat against both other players and AI enemies.

A unique aspect of Shrapnel is its integration of blockchain technology, which grants players ownership of their in-game assets. This ownership enables players to buy, sell, and trade their virtual items on an open market, allowing them to earn cryptocurrency through gameplay.

Shrapnel aims to realize the vision of a player-driven competitive FPS by leveraging blockchain technology. This approach provides players with an exciting multiplayer experience and rewards them for their time and skill. The game’s innovative system allows for customization through mods, allowing players to tailor the game to their preferences.

Competitive Multiplayer FPS: Shrapnel focuses on player-versus-player action in a first-person shooter setting.
Moddable Gameplay: The game allows players to create and share mods, potentially customizing the experience.
Play-to-earn with Blockchain: Shrapnel utilizes blockchain technology to reward players for their time and skill in the game. This could involve earning cryptocurrency or in-game NFTs.
Resource Extraction in The Zone: Players act as Operators tasked with finding and extracting valuable resources within a designated area called “The Zone”.
High-Stakes Competition: The Zone is a tense and competitive environment where players fight over resources, encouraging strategic risk-taking and rewarding skilled combat.

Investors

Investors in Shrapnel include Griffin Gaming Partners, Polychain Capital, Dragonfly Capital, Franklin Templeton and Brevan Howard Digital

Token

At the core of the Shrapnel economy is the $SHRAP token, which serves as both a utility and medium of exchange. Player-created content (PCC) on the platform is published on-chain as unique digital items using $SHRAP, allowing players to claim ownership and trade their creations. Holders of $SHRAP can promote content, influence its discoverability, and receive rewards. The token is also used for gasless transactions in the Shrapnel Marketplace and to pay validators in the subnet.

Where can you buy the token ?

You can buy the token from exchanges like HTX, Bitget, and BitMart.

Zypher- 62.50%

Sector – Gaming Infrastructure
Status – Active

Zypher Games is dedicated to revolutionizing on-chain gaming by incorporating cutting-edge AI and Zero-Knowledge Proofs (ZKP) into its gameplay, providing players with a seamless, provably fair, and enjoyable experience. The company offers a fully on-chain game infrastructure, incorporating a suite of ZKP-powered game engines, ranging from Sovereign Layer 3 Rollups to ZK-as-a-service SDKs.

Features –

On-chain experience – The company distinguishes itself in the gaming industry by offering comprehensive on-chain gaming experiences. Every player interaction, from individual actions to asset acquisition and achievement, unlocks, is recorded on the blockchain, granting players absolute ownership and control over their gaming journey. Integrating AI, ZKP, and on-chain gaming ensures exciting gameplay and a provably fair, interoperable, and personalized gaming environment.
Artificial Intelligence – In Zypher Games’ game design approach, AI facilitates dynamic, immersive, and tailored gaming experiences. Whether enhancing the matchmaking process or creating intelligent non-player characters (NPCs), AI is a core tool for a seamless and enhanced gaming experience.
Zero Knowledge Proof – ZKP is another critical component of Zypher Games’ platform, guaranteeing configurable privacy and transaction integrity while ensuring efficient on-chain interactions. These cryptographic protocols enable the verification of concealed information without disclosing it, allowing games to preserve hidden mechanics and information on a blockchain where all transactions are broadcast to any third party.
User-friendly solution – Zypher Games offers a Universal ZK Game Engine, a plug-and-play solution designed to empower game developers to seamlessly integrate ZK features into their games. This user-friendly interface and comprehensive toolkit democratize the development of fully on-chain games, making it accessible to developers, even those with minimal background in cryptography.

Zypher has forged numerous partnerships across the gaming and infrastructure sectors. On the gaming side, the company has partnered with Mirror World, Degen Games, XYBA Party, CARV, DeGame, Galxe, VitiDiary, OUTER Game, and Mhaya. On the infrastructure level, Zypher has partnered with Linea Mainnet Alpha, Arbitrum Mainnet, opBNB, and Manta Pacific.

Mezo – 62.50%

Sector – Bitcoin Layer 2
Status – Not yet launched

Mezo is built by Thesis, the team that brought you tBTC, Fold, Acre, Etcher, Taho, Embody and Defense. Mezo is a Bitcoin-native Layer 2 network built on tBTC, the largest decentralized Bitcoin bridge in operation. Mezo prioritizes user ownership and leverages tBTC for secure bridging, allowing you to use your Bitcoin for gas fees. This innovative platform features a dual staking model that incentivizes participation and validates transactions while also offering compatibility with the Ethereum Virtual Machine (EVM). With Mezo, Bitcoin is poised to become more accessible and suitable for everyday use.

Features:

User Ownership: Mezo prioritizes putting users in control. Unlike some Layer 2 solutions, a single entity doesn’t control Mezo. This fosters a decentralized approach where users have a say in the network’s governance and future development.
Reliable Bridging with tBTC: Built on top of tBTC, the most prominent decentralized Bitcoin bridge, Mezo inherits its secure and trustless bridging mechanism. This means you can seamlessly transfer your Bitcoin to the Mezo network without relying on a custodian to hold your funds.
BTC for Gas: You can use your Bitcoin (BTC) to pay for transaction fees (gas) on Mezo. This eliminates the need to acquire a separate token specifically for gas fees, making the network more user-friendly for those who primarily hold Bitcoin.
Dual Staking Model for Rewards and Validation: Mezo incentivizes participation through a unique dual-staking model. Users can stake their Bitcoin to earn rewards and contribute to the security of the network

Investors

Based AI- 62.50%

Sector – Artificial Intelligence
Status – Testnet
FDV – $270M

BasedAI is a distributed network of machines that introduced decentralized infrastructure capable of integrating Fully Homomorphic Encryption (FHE) with any large language model (LLM) connected to its network. The proposed framework embeds a default mechanism, called “Cerberus Squeezing”, into the mining process, which transforms standard LLMs into encrypted, zero-knowledge LLMs, or ZK-LLMs.

The technological use of ZK-LLMs allows AI models to process encrypted data without compromising user privacy. This capability is groundbreaking for sectors that prioritize confidentiality and security.
Tokenomics consists of a well-defined inflation management strategy through annual halving events, similar to Bitcoin’s model, and a capped total supply. This approach addresses potential inflationary risks and ensures a sustainable ecosystem.
An exciting aspect of BasedAI is its connection to the original Pepecoin, tying the project to meme culture and the broader crypto community through the acquisition of Brains. This context adds a unique layer to the project’s narrative.
The AI Marketplace offers a platform for users to list, find, and purchase AI models and related components, fostering a digital marketplace for artificial intelligence assets.

Token

$BASEDAI serves as the native token for Based AI, fulfilling various functions within the platform. It is utilized to cover compute units, brain operational fees, network participation, and Ethereum Virtual Machine (EVM) fees.