TOKEN METRICS WATCHLIST

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

Gearbox
Openfabric AI
SubQuery
Opsec
Tanssi

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.

Gearbox- 66.67%

Sector – DeFi
Status – Active
TVL – $109M
FDV – $215M

Gearbox Protocol introduces a revolutionary approach to decentralized finance, offering composable leverage solutions. It enables users to engage in margin trading on Uniswap, leverage farming on Curve, liquid staking on Lido, restaking with EigenLayer derivatives, and amplifying capital usage on existing protocols by up to 10 times. This innovation is made possible through Credit Account abstraction, which merges lending and prime brokerage functionalities within a single protocol.

At its core, Gearbox Protocol aims to establish itself as a pivotal leverage and credit layer within the DeFi ecosystem. Developers can easily integrate Gearbox’s leverage functionality into their own DeFi protocols, allowing users to access greater capital efficiency with a simple “take leverage with Gearbox” button. This seamless integration empowers users to make the most of their assets while enhancing the overall efficiency of decentralized financial applications.

Gearbox offers two participants –

Lenders: Users can deposit assets to earn passive yield without facing impermanent loss, because of it’s single-asset lending model.
Leverage Users: Borrow assets to create spot leverage positions, which can be utilized across various sectors such as DeFi, NFTs, and RWA. This includes activities like margin trading on Uniswap, farming on Curve and Balancer, leverage staking on Lido, executing delta-neutral strategies, and more. The flexibility to choose how to leverage assets is made possible through Gearbox’s Credit Account abstraction.

Features

Modularity: Gearbox Protocol comprises an architecture of smart contracts that are plug-and-play enabled. Different protocol components can be reassembled based on use cases and risk segmentation.
Composability: Gearbox Protocol does not operate its own order book or trading environment. Instead, the leverage provided is utilized across multiple DeFi protocols and assets, enabling full composability.
0% Funding Rates: The leverage offered is asset-backed and does not rely on derivative positions. As a result, there are no short/long ratio requirements or funding rates to maintain.
Leverage as a Service: External protocols can leverage Gearbox Protocol to offer leverage to their users without requiring modifications to their existing architecture. These protocols can also participate in Gauge Wars by staking GEAR tokens, enhancing their rates.
Permissionless: Credit Accounts within Gearbox Protocol can accommodate complex strategies, including delta-neutral or hedging strategies. Users have the autonomy to decide on these strategies, with Gearbox’s multiple features making complex operations more accessible.

Investors

The investors in Gearbox include Placeholder, Zee Prime, Ledger Prime, Polymorphic, GCR,1kx etc

Token

The $GEAR token functions as an ERC20 utility token within the protocol, initially serving as a governance token for the DAO. It is designed to undertake additional functions as envisioned by the DAO in the future. The total supply of $GEAR tokens is capped at 10 billion.

Where can you buy the token?

You can buy $GEAR from exchanges like OKX, BingX, Bitget etc.

Openfabric AI- 66.67%

Sector – Artificial Intelligence
Status – Active
FDV – $341M

Openfabric is an innovative Layer 1 protocol designed to elevate Artificial Intelligence technology to unprecedented levels. This protocol establishes a pioneering framework for AI-Apps by combining blockchain, advanced cryptography, and cutting-edge infrastructure. Open fabric addresses key challenges AI platforms encounter, enhancing accessibility and usability for users across various expertise levels. By leveraging blockchain technology, Openfabric ensures secure and transparent data storage, fostering scalability and flexibility in AI applications. This approach liberates users from vendor lock-in, empowering them to select AI services that best suit their needs. Openfabric’s user-friendly design enables individuals with limited technical backgrounds to harness the power of AI without complex infrastructure requirements.

Openfabric is distinguished by several core features that underpin its functionality. Decentralization lies at the heart of the protocol, ensuring that no central entity governs the location of data or information processing, thereby enhancing transparency and resilience.

Usability is another crucial aspect of Openfabric, simplifying interactions between end-users and AI systems through intuitive, non-technical interfaces. This accessibility empowers individuals with varying technical expertise to leverage AI capabilities without complex infrastructure, thereby fostering inclusivity and democratizing access to AI technology.

Security is paramount within the Openfabric ecosystem, safeguarding end-user privacy and intellectual property rights. By implementing robust security measures, Openfabric ensures that users can confidently engage with AI technologies without compromising sensitive information. The protocol also incorporates a smart economy framework, facilitating fair transactions between AI service providers and consumers. This built-in exchange medium ensures equitable access to AI services, promoting a competitive and sustainable marketplace. Interoperability is a crucial feature of Openfabric, enabling seamless collaboration between AI agents. Multiple AI systems can cooperate and connect through standardized interfaces, collectively addressing complex problems and delivering more comprehensive solutions.

Investors

Token

The $OFN token serves as the native digital currency of the Openfabric network, playing a vital role in incentivizing responsible network behavior and enabling various functionalities. It serves as more than just a digital currency within the Openfabric network, acting as a foundational element empowering users to engage in consensus, promoting positive network behavior, and facilitating seamless interactions with a diverse array of AI-Apps.

Beyond its utility as a token, its dual role in governance further underscores its importance within the ecosystem. With a maximum supply of 500 million tokens, the $OFN token is a key component of the Openfabric network, supporting its operations and fostering a robust and sustainable ecosystem.

Where can you buy the token?

You can buy $OFN from exchanges like Pancakeswap V3 (BSC), Bitget and MEXC.

Subquery Network- 64.58%

Sector – Infrastructure
Status – Active
FDV – $130M

SubQuery is a platform, dedicated to mitigating the centralization challenges present in current middleware services such as indexers and RPC providers. Through decentralizing these critical services, SubQuery aims to realize a future for web3 that is both unstoppable and robust, maintaining high standards of performance, reliability, and scalability. The platform offers a holistic solution for dApp developers, facilitating efficient access and indexing of data across multiple blockchains.

SubQuery has introduced an innovative ecosystem consisting of Consumers, RPC Providers, Data Indexers, and Delegators, each playing a crucial role in the network’s operations and expansion. The platform’s token economic model is intricately designed to encourage active participation and ensure the network’s sustainability through rewards for productive contributions and network inflation incentives.

Multichain ecosystem – SubQuery’s commitment to a multi-chain ecosystem is particularly notable. By designing the network to support indexing projects from any Layer 1 blockchain, SubQuery positions itself as a versatile tool for dApp developers. This approach broadens the platform’s applicability and fosters an environment where cross-chain interoperability and data sharing are the norms.

Decentralized Data Indexers – SubQuery offers fast, reliable, decentralized, and customized APIs tailored for web3 projects. These APIs enhance the speed of dApps by providing an indexed data layer, enabling developers to access richer data faster. This capability allows for the creation of more intuitive and immersive user experiences.

Decentralized RPC Endpoints – SubQuery’s Data Node provides faster, cheaper, and globally decentralized RPCs that significantly enhance dApp performance. These optimized RPC endpoints unlock new levels of scalability, empowering the development of the next generation of web3 projects.

Investors

SubQuery’s list of investors include Arrington Capital, DCG, Stratos Technologies, Hypersphere Ventures, Neo Global Capital (NGC), Wintermute , gumi Cryptos Capital, Skynet Trading, DeFi Alliance, The LAO, Digital Renaissance, P2P Capital, and Web3 Capital.

Token

The SubQuery Token ($SQT) serves as a utility token within the SubQuery Network, incentivizing participation and acting as a medium of exchange for transactions. Consumers utilize $SQT to access RPC queries from RPC Providers or indexed data from Data Indexers, with the distributed tokens among Node Operators based on their chosen payment method.

The network’s architecture allows Node Operators to index, aggregate, and efficiently serve blockchain data to Consumers, enabling rapid and straightforward access to the necessary data for application development. $SQT facilitates transactions and value transfer within the network, ensuring that the underlying value of SubQuery drives the token’s value.

The initial total supply of $SQT is set at 10 billion tokens.

Where can you buy the token?

$SQT can be brought on Bybit.

Opsec – 62.50%

Sector – Artificial Intelligence
Status – Active
FDV – $221M

OpSec introduces a groundbreaking platform that reshapes the landscape of decentralized computing. Its decentralized architecture is constructed on advanced cloud network technology, establishing a secure and robust computing environment. At the core of this infrastructure are OpSec Nodes, which enable users to deploy projects independently or collectively, nurturing a diverse and inclusive ecosystem. This meticulously designed decentralized computing architecture by OpSec aims to redefine the landscape of distributed systems. Whether hosting decentralized apps, deploying blockchain nodes, or remotely accessing your servers, OpSec ensures your journey is marked by security and anonymity.

OpSec’s Cloudverse offers a range of innovative solutions:

OpSec Nodes: These form the backbone of the infrastructure, enabling autonomous or collaborative project deployment. They provide scalability and dependability for creating or sustaining blockchain networks.
OpSec VPS: A security-hardened infrastructure that facilitates complex tasks like operating blockchain nodes or handling resource-intensive computations.
OpSec GPU Solutions: Provides decentralized GPU solutions, offering on-demand access to computing capabilities via GPU clusters and a marketplace connecting users with spare capacity.
Cloudsec Router: A lightning-speed router enhancing online privacy and security through decentralized network architecture, enabling anonymous communication over public networks.
OpSec Network: A Layer 1 blockchain combining AI and modular architecture for scalability, security, and flexibility. It integrates LangChain technology for consensus, Language Models (LLMs) for communication enhancement, and TensorFlow for machine learning capabilities.

Token

$OPSEC is the platform’s native token, which is vital for its ecosystem. It incentivizes users to participate in the decentralized network, rewarding them with cryptocurrency tokens for contributing computational power, validating transactions, and performing other functions. Users also earn staking rewards for locking up tokens as collateral for activities like block validation or governance voting. Transaction fees are charged for executing transactions and paid to node operators for processing and validating transactions. Decentralized governance distributes decision-making among network participants, allowing them to collectively decide on the network’s operation and development through voting or delegation.

Where can you buy the token?

You can buy $OPSEC from exchanges like CoinEx and Uniswap V3 (Ethereum).

Tanssi – 60.42%

Website | X(Twitter)
Sector – Modular Blockchain
Status – Testnet

Tanssi presents a groundbreaking Appchain infrastructure protocol designed to streamline the deployment of blockchains tailored for specific applications. This protocol enables parachains to connect seamlessly to the Tanssi Network, transforming them into ContainerChains and granting them rapid access to various tools and resources. Tanssi’s developer-centric and permissionless approach empowers builders of app chains to translate their concepts into functional realities in no time. Tanssi is constructed on the Rust-based Substrate framework, offering exceptional performance, flexibility, and rapid deployment thanks to its library of pre-built pallets. It leverages Polkadot’s XCM (Cross-Chain Messaging) protocol to guarantee interoperable, secure cross-chain connectivity between appchains, containers, parachains, and major blockchains like Ethereum mainnet.

Features

Infrastructure Management: Tanssi simplifies the management of infrastructure components by providing customizable tools and resources, making it easy for the developer.

Robust Security: Tanssi ensures robust security and liveness by utilizing Polkadot’s shared security architecture and Tanssi’s collator set. Developers can tailor the implementation of their Appchain Container to meet their specific security requirements.

Interoperability & Cross-Chain Communication: Tanssi leverages Polkadot’s XCM to enable interoperable, secure cross-chain connectivity between appchain containers, parachains, and major blockchains like Ethereum mainnet.

Substrate-based: Built on the Rust-based Substrate framework, Tanssi offers high performance, flexibility, and rapid deployment through its library of pre-built pallets. Substrate’s modular structure simplifies appchain creation and deployment.

Accessibility & Automation: Tanssi’s built-in automated and permissionless protocol enables quick appchain deployment and access to tools and services without off-chain agreements or interactions, allowing developers to concentrate on their projects.

Investors

Tanssi boasts a list of investors, including Arrington Capital, Borderless Capital, Fenbushi, HashKey Capital, D1 Ventures, Hypersphere, C² Ventures, and Jsquare.