TOKEN METRICS WATCHLIST

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

Karak
Natix
Enso
Aggregata
Rhinestone

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.

Karak – 68.75%

Sector – Restaking
Status – Active
TVL – $341M

Karak represents a universal restacking layer, simplifying the provision of crypto-economic security for any asset and opening up a new realm of possibilities for developers to create innovative infrastructure designs seamlessly and securely. By leveraging Karak, protocols gain access to robust and secure trust networks right from their inception, effectively reducing the barrier to securing new protocols. This eliminates the need for protocols to incentivize their validator sets through a highly dilutive reward mechanism, thus rendering bootstrapping security more scalable, accessible, and cost-effective.

While maintaining the ability for users to restake on the Ethereum mainnet, similar to EigenLayer, Karak goes further by incorporating Arbitrum, Ethereum’s largest layer 2, and its own Karak Network into its restaking options.

Features

Multiasset Restaking – Karak introduces a groundbreaking concept in cryptoeconomic security with multiasset restaking. This innovation enables users to restake various assets such as Ethereum, liquid staking tokens, stablecoins, and more to earn rewards. This innovation diversifies earning opportunities and enhances security for applications, protocols, and distributed secure services (DSS) within the Ethereum ecosystem.

Universal staking – The platform embodies the universal restaking ethos, simplifying bootstrapping security and enhancing network composability. This accessibility extends secure restaking infrastructure to a broader audience, allowing developers to focus more on innovation and product development than security implementation’s complexities.

Development process – Additionally, Karak facilitates turnkey development by providing access to robust and secure trust networks from the outset. This approach significantly reduces the barriers to securing new protocols, eliminating the need for protocols to incentivize their validator sets through highly dilutive reward mechanisms. As a result, bootstrapping security becomes more scalable, accessible, and cost-effective.

Investors

Natix – 64.58%

Sector – Depin
Status – Active

NATIX Network is a DePin project developing an open geospatial intelligence network leveraging its proprietary artificial intelligence (AI) and smartphone cameras. NATIX incentivizes users to map their environments, thereby enriching the dataset utilized in its dynamic map, which serves as a cornerstone for various smart city and mobility applications.

.Existing solutions for geospatial data collection face limitations such as restricted data types, infrequent updates, high data acquisition costs, and elevated pricing for business clients. NATIX employs driver assistant applications (e.g., dashcams and navigation tools), token-based incentives, computer vision AI, and smartphone cameras to crowdsource real-time data, creating a digital replica of our physical world.

The AI software developed by NATIX Network conducts real-time analysis of video streams to detect a diverse array of events. The data is in plain text format and contains no personally identifiable information. NATIX Network utilizes various decentralized data validation methods to verify the accuracy and authenticity of the data, thereby ensuring its reliability and trustworthiness. This data is monetized through our marketplace to support real-time applications. The value of the data is determined by market demand, resulting in rewards for camera owners based on their contributions.

Investors

NATIX is backed by well-known global investors such as Blockchange Ventures, Techstars, Plug and Play Ventures, XYO, Mulana Capital, CoinIX Capital, NECTO Labs, and other angels.

Token

$NATIX is the native utility token within the $NATIX Network ecosystem. It functions as a payment method and provides staking benefits to users. The $NATIX token plays a pivotal role in facilitating core ecosystem functions, serving as a unit of account for network-level activities, staking, and rewards

Enso- 60.42%

Sector – Cross-chain
Status – Active

Enso offers financial infrastructure tailored for developers seeking to integrate, embed, or leverage DeFi functionalities within their applications. Whether creating wallets, smart wallets, exchanges, DeFi interface aggregators, routers, or any other application aiming to engage with the decentralized finance ecosystem, Enso equips developers with the necessary tools to execute transactions and access all pertinent metadata of DeFi protocols. This empowers developers to innovate and create the next wave of financial applications.

Feature

Native Transaction Bundling: Enso enables users to execute multiple transactions within a single atomic transaction. For instance, users can swap 10 tokens, lend, borrow, and provide liquidity to a pool—all in one seamless transaction.
DeFi Actions: Enso offers a diverse range of DeFi actions that can be bundled to create customized workflows.
Best Route Execution: Enso determines the most optimal route for a desired transaction path, considering gas execution costs, slippage, and expected output amount.
Standardization: Enso includes a standardization layer that facilitates the seamless integration of DeFi protocols into applications. This encompasses standardizing data formats, transaction structures, and execution processes.
Metadata: Enso provides comprehensive metadata related to DeFi protocols, including information on APY, balances, logos, URLs, and more.

Investors

Aggregata- 60.42%

Sector – Artificial Intelligence(AI)
Status – Active

Aggregata is developing a comprehensive set of tools and infrastructure to revolutionize the AI data flow. The company seeks to empower the AI Revolution by transforming data flow with speed, efficiency, simplicity, decentralization, and incentive alignment principles. Aggregata redefines AI data as collecting information and resources essential to the artificial intelligence industry, including datasets, models, vector databases, pipelines, running environments, intermediate weights, and more. Users can monetize their conversations with AI through GPT-to-Earn or explore a suite of AI data infrastructure with Aggregata’s PC Client.

Features

Chat-GPT – Users can monetize their conversations with Chat-GPT by granting permission to monetize selected conversations, earning compensation in return.

Open Data Marketplace – The Open Data Marketplace offers a decentralized platform for efficient data sharing, emphasizing data sovereignty, censorship resistance, and token rewards for data owners.

Decentralized training – The platform also provides decentralized training and fine-tuning capabilities, including decentralized compute power aggregation, an out-of-the-box training client, decentralized fine-tuning, and a vector database. These features aim to make model training faster, cheaper, and more decentralized than ever before.

Model deployment – Users can easily incorporate AI models into their products with just a few clicks, ensuring smooth and easy functioning.

Aggregata is dedicated to redefining AI data, focusing on enabling companies to seamlessly integrate AI-powered applications or features into their products or services. It has already gained users who are looking to expand further in the AI landscape.

Rhinestone- 58.33%

Sector – Interoperability/ Wallet
Status – Not yet launched

Rhinestone Protocol is an interoperability layer for smart accounts, introducing modular account abstraction to enhance security and user experience and foster innovation. It empowers developers to distribute and monetize and users to discover, install, or swap modules within a secure ecosystem.

The Rhinestone Protocol acts as an interoperable framework connecting accounts, modules, and users, facilitating the creation of portable, secure, and scalable smart accounts. This framework offers developers a platform to distribute and monetize their modules while enabling users and decentralized application (dApp) developers to explore and integrate them seamlessly

The Rhinestone Wallet serves as a model implementation of a highly adaptable smart wallet within the Rhinestone ecosystem. It showcases the potential for wallet-native applications to exceed the conventional functionalities of a standard self-custodial wallet. Many more wallet features are uniquely possible with smart account modules