TOKEN METRICS WATCHLIST

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

BEVM
RSS3
Hana Network
Lever Fi
tagSpace

Please remember that some of these projects must still be subjected to our code review process. Still, we want to call them out here for preliminarily catching our eye based on our fundamental analysis process.

BEVM – 64.58%

Sector – Bitcoin L2
Status – Active

BEVM (Bitcoin Layer-2 Network) is an innovative platform combining the robustness of Bitcoin with the flexibility of Ethereum’s Virtual Machine (EVM). It leverages the Substrate framework for compatibility with EVM, offering seamless integration with Ethereum’s API and Substrate’s API. The primary goal of BEVM is to create a decentralized Bitcoin (BTC) Layer2 that is compatible with the Ethereum Virtual Machine (EVM). This compatibility enables the smooth deployment of a wide range of EVM ecosystem applications on BEVM, thereby enhancing the utility and adoption of Bitcoin by expanding its use cases.

Features

Ethereum Compatibility: BEVM’s compatibility with the Ethereum Virtual Machine (EVM) allows seamless operation of current Ethereum-based applications and smart contracts on the network, minimizing the need for significant modifications.
Bitcoin Integration: Using Bitcoin (BTC) for transaction fees on the BEVM network merges Bitcoin’s reliability with Ethereum’s smart contract functionalities, creating a more versatile platform.
Cross-chain Functionality: BEVM enhances interoperability with its official cross-chain bridge, enabling safe and efficient asset transfers between Bitcoin and BEVM.

BEVM’s Fully Decentralized Bitcoin Layer 2 Solution offers a groundbreaking approach to scaling Bitcoin transactions. Its compatibility with Ethereum Virtual Machine (EVM) enables the seamless deployment of a wide range of Ethereum-based applications and smart contracts on the Bitcoin network.

Investors –

RSS3- 62.50%

Website | X(Twitter)

Sector – Artificial Intelligence
Status – Active
FDV – $276M

The RSS3 Network stands out as an innovative information dissemination protocol, serving as a vital link between Web3 and various technologies such as AI, search engines, and content feeds. This protocol is pivotal in enabling the seamless, secure, and efficient flow of information across the Open Web. Central to RSS3 is its dual core components, feed, and search, which define a standardized format for content presentation and interaction, simplifying access to diverse content sources without the need for complex compatibility measures. The RSS3 Network operates through a decentralized architecture, with nodes responsible for indexing, transforming, storing, and delivering information to users

RSS3’s Open AI agent, OpenAgent, represents a significant advancement in AI application development, providing an open-source framework that drastically reduces development time from months to hours. Leveraging support from EVM chains, RSS3 offers efficient access to Open Web information through its API and SDK, which are pre-configured with best practices to ensure optimal performance.

The RSS3 Explorer serves as a gateway to the RSS3 Network, offering developers a comprehensive solution for viewing network statistics and conducting network operations. Through seamless integration, RSS3 enables developers to leverage the power of blockchain and the RSS3 Network, paving the way for decentralized information dissemination and AI application development. With a focus on efficient and decentralized information distribution, RSS3’s project architecture is user-friendly and well-structured, supporting its mission to revolutionize how information is accessed and shared.

Token

The RSS3 token has a total supply of 1 billion and is the native currency within the RSS3 ecosystem. It is utilized for various network operations, including querying the network, initiating a node, and paying for block space.

Where Can you buy the token?

You can buy the token from Bybit, Bitget and OKX.

Hana Network- 62.50%

Sector – Cross-Chain
Status – Not yet launched

Hana Network serves as a privacy hub for all blockchains, offering on-chain privacy solutions for existing chains and various assets, including Bitcoin. Acting as a bridge between the crypto and real-world domains, Hana Network provides users with a user experience that combines elements of centralized finance (CeFi) and self-custodial services. This includes features such as trustless on/off-ramps, interoperability, and enhanced privacy measures. Built on the Cosmos SDK and Tendermint consensus engine, Hana Network operates as a Proof of Stake (PoS) blockchain, utilizing the Threshold Signature Scheme (TSS) to establish connections with Ethereum, Bitcoin, and other Layer 1 (L1) and Layer 2 (L2) blockchains. It functions as the gateway omni-chain protocol for the Next blockchain ecosystem. Hana is the Gateway for Eigenlayer and Babylon.

Features

Chain Abstraction – Hana Transportor simplifies blockchain interactions by using the Threshold Signature Scheme (TSS) for seamless access to Ethereum, Bitcoin, and other networks. It ensures security by generating TSS addresses that can only be signed using a Validator’s threshold signature without revealing private keys. This allows minting and redeeming of assets on Hana Network without the need to bridge or wrap assets, minimizing user risk.
Seamless use – Hana Network focuses on user-friendly applications, including trustless on/off-ramps, commission-free trading apps, and crypto payment solutions.
Privacy – For privacy, Hana Network uses Privacy Pools to conduct transactions confidentially. Future plans include implementing Encrypted ERC-20 for even greater privacy in token transfers.
Babylon & Eigenlayer – Collaboration with Babylon and EigenLayer enhances BTC and ETH security through PoS and AVS technologies.

To onboard the next billion users to cryptocurrency, prioritizing user experience is crucial. Presently, existing mechanisms are overly complex for mainstream users. Hana aims to introduce a new solution with a trustless on-off ramp, simplifying the process and making it more accessible.

Lever Fi- 60.42%

Sector – Bitcoin Ecosystem
Status – Active
FDV – $124M

LeverFi is a DeFi infrastructure and innovation network committed to providing fresh and compelling opportunities within the rapidly expanding global Web3 landscape. As a DeFi protocol integrated with the Ethereum network, LeverFi utilizes smart contracts to facilitate permissionless leverage trading platforms and serves as a launchpad for Bitcoin projects.

LeverFi operates multiple networks to cater to various needs within the DeFi ecosystem:

OmniZK (Bitcoin/EVM): This network provides a secure validation protocol that allows developers to transfer complex computations to any EVM layer. It then relays the final event outcomes back to the Bitcoin network to conduct native settlements.
LeverPro (Bitcoin): Serving as a premium BRC20 project launchpad, LeverPro focuses on high-potential DeFi projects within the Bitcoin ecosystem.
LeverTrade (EVM): This platform is designed to be trader-centric, allowing traders to earn yield on collateral while trading with up to 10x leverage simultaneously.

Investors

Token

$LEVER serves as the native token of the project, offering holders various utility functions. One such function is governance participation, where holders can lock up their $LEVER for a period ranging from 6 to 48 months to earn xLEVER. These xLEVER tokens can then be utilized in governance voting, with the amount of xLEVER generated increasing with longer lock-up durations. Additionally, $LEVER holders can stake their xLEVER tokens to receive a share of the protocol’s rewards, enhancing the token’s value proposition and incentivizing active participation within the ecosystem. LeverFi will update its tokenomics soon.

Where can you buy the token?

You can buy the token from Bitget, Binance and MEXC.

tagSpace- 60.42%

Sector – Metaverse/AR
Status – Not yet launched

tagSpace introduces a platform where digital content merges with the real world to create a Mixed Reality experience. This includes 3D animations, videos, and images seamlessly integrated into the physical environment, offering a unique blend of information, exploration, and entertainment. Personalization is crucial, as content is tailored to individual users based on location and activities.

For creators, tagSpace provides a platform to monetize their content by showcasing it in real-world locations. This allows creators to earn rewards and income as users engage with their augmented reality content. Users, in turn, are rewarded for their interactions and activities within the tagSpace platform economy. Special events, giveaways, and geographically relevant ads further enhance the user experience and incentivize creator and user engagement.

Users can experience a world where digital content seamlessly integrates with real-world locations. Whether strolling through a city park or attending a sports game or music festival, users can immerse themselves in an enhanced view of their surroundings. Interactive content is delivered based on your preferences, ensuring a personalized experience. Share personal Tags with friends to easily locate each other or mark favorite spots. Enjoy the Spatial Web with friends, enhancing your real-world experiences with digital elements.

Token

$TAGD serves as the native token of the tagSpace platform. tagSpace offers creators the chance to monetize their experiences by providing a platform to showcase digital content in real-world locations. Through tagSpace, creators have the ability to earn rewards and generate income as users engage with their augmented reality content. The details around tokenomics and more utility hasn’t released yet.