TOKEN METRICS WATCHLIST

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

Modulus
Xai
Aevo
ZKEX
ZKPool

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.

Modulus- 66.67%

Sector – Artificial Intelligence(AI)
Status – Not yet launched

Modulus employs cryptographic mechanisms to ensure the integrity and reliability of AI-generated outcomes. By strategically bridging the realms of artificial intelligence and blockchain technology, the project facilitates the establishment of sophisticated decentralized protocols, thereby reducing the impact of human intervention. The incorporation of cryptographic principles serves as a pivotal safeguard, assuring the trustworthiness of the AI outputs and reinforcing the project’s commitment to maintaining a secure and transparent environment

Zero Knowledge – Modulus employs zero-knowledge proofs to meticulously verify the integrity of AI providers’ algorithms directly on the blockchain. The dedicated zero-knowledge proving system, tailor-made for AI applications, provides highly potent AI features for decentralized applications (dApps) while maintaining cost-effectiveness. Within the domain of AI, zero-knowledge cryptography enables the confirmation of accurate execution of an AI model without exposing its proprietary intricacies. This mathematical approach ensures that AI outcomes remain unaltered by undisclosed manipulations. Verifying this “proof of correctness” on the blockchain enhances security to a level comparable to traditional blockchain standards and achieves this with significant cost savings, marking a significant advancement in securing AI processes within decentralized frameworks.

Investors

Xai- 64.58%

Sector – Gaming
Status – Not yet launched

Xai has been strategically designed to facilitate open trade in the upcoming generation of video games. This innovative platform empowers potentially billions of traditional gamers to possess and trade valuable in-game items within their favorite gaming environments. Notably, Xai accomplishes this without requiring users to engage with crypto-wallets, marking a significant advancement in accessibility and user-friendly interaction within the gaming ecosystem.

XAI Blockchain – The Xai Blockchain, a product of Offchain Labs and overseen by the Xai Foundation, has been meticulously crafted to address the specific requirements of web3 gaming on a large scale. This blockchain, tailor-made for gaming enthusiasts, provides traditional gamers with a streamlined wallet and account experience, affords developers increased gas and contract limits, and establishes a fully decentralized ecosystem promoting trust and transparency among all participants. Drawing upon the robust security measures of Ethereum, the Xai Blockchain ensures resilience against potential security breaches and vulnerabilities.

Positioned as the world’s inaugural Layer 3 solution for AAA gaming, Xai, fueled by Offchain Labs’ Arbitrum Technology and featuring games from developers like Ex Populus, is poised to revolutionize the gaming industry. We invite you to become part of this transformative journey by joining the community, competing with the best, and participating in the revolutionary Vanguard League.

Investors

XAI has been funded by CMS, Outlier Ventures, Citizen X, Animoca Brands, Asymmetric,Akatsuki, Fisher8, and Outlier Ventures.

Token

The details regarding the token will be revealed later.

Aevo- 64.58%

Sector – Decentralized Finance(DeFi)
Status – Active
TVL – $12.57M

Aevo facilitates a comprehensive range of financial instruments, including options, perpetual futures, and various other products, all accessible through a unified margin account. The platform seamlessly integrates off-chain matching with the on-chain settlement, offering traders an exceptional balance of performance and low latency. By leveraging this hybrid approach, traders benefit from unparalleled efficiency while enjoying the robust security measures inherent to the Ethereum blockchain. This amalgamation of features positions Aevo as a sophisticated and secure platform for diverse trading strategies within the cryptocurrency landscape.

Aevo is constructed upon a proprietary Layer 2 (L2) infrastructure derived from the Optimistic Ethereum (OP) stack, affording the platform elevated throughput and performance capabilities. This architectural choice ensures that Aevo maintains the robust security features inherent to the Ethereum blockchain.

Ecosystem – Within the comprehensive Aevo product ecosystem, traders can access various financial instruments, including options, perpetual futures, yield products, and structured offerings—all conveniently accessible within a unified platform. This consolidation of trading options streamlines the user experience, providing traders with a singular and versatile destination to execute a spectrum of trading strategies.

Team

The Aevo team comprises professionals with extensive experience from prominent institutions, including Coinbase, Kraken, and Goldman Sachs.

Investors

Aevo boasts investment support from renowned entities such as Coinbase, Paradigm, Dragonfly, Nascent, Scaler, Ethereal, and Robot Ventures.

Token

$AEVO serves as the native token for Aevo, functioning as its governance token. Holders of $AEVO enjoy the privilege of expressing their preferences within the scope of the Decentralized Autonomous Organization (DAO), as outlined in the accompanying document.

The anticipated launch of $AEVO, known as the Token Generation Event (TGE), is scheduled to occur no later than January 2024.

It is essential to note that the genesis of $AEVO is rooted in the rebranding of its predecessor, the governance token $RBN. Ribbon Finance’s most recent governance proposal, RGP-33, endorsed this transformation. Consequently, the distribution dynamics of $AEVO are largely predetermined, with $RBN having been extensively disseminated in the market and strategically allocated. This underscores the stability and established nature of the token distribution.

ZKEX- 62.50%

Sector – Decentralized Finance(DeFi)
Status – Not yet launched

ZKEX presents a revolutionary approach to bridgeless multi-chain trading, ensuring security through zero-knowledge technology. As a trustless and self-custodial decentralized exchange (DEX) with performance akin to centralized finance (CeFi), ZKEX offers users an experience comparable to leading platforms like Binance or Coinbase. ZKEX’s innovative foundation integrates cutting-edge zero-knowledge rollup technologies: zkLink, Starkware, and zkSync. This strategic amalgamation positions ZKEX at the forefront of decentralized exchanges, providing users with a seamless and secure multi-chain trading experience.

Decentralized Exchange – Unlike traditional decentralized exchanges, users frequently confront challenges such as fluctuating liquidity, elevated slippage costs, unpredictable gas fees, and constrained functionality when confined to a singular blockchain. These issues underscore the importance of addressing the limitations inherent in many existing DEX platforms to enhance the overall trading experience for cryptocurrency enthusiasts. ZKEX distinguishes itself by operating in a decentralized, trust-minimized, and non-custodial manner. Transactions on the platform are fortified with advanced zero-knowledge proofs, bolstering the security and privacy of user activities.

Token

The details of the token will be revealed later.

ZKPool- 60.42%

Sector – Zero-Knowledge
Status – Active

ZKPool consolidates the computational capabilities of accelerators dedicated to zero-knowledge proofs, offering essential services to applications reliant on Zero-Knowledge Proofs (ZKP). This initiative significantly expedites the proof generation associated with Ethereum ZK Rollup and various other ZK projects while upholding the principles of decentralization. Moreover, ZKPool streamlines the onboarding process for prover operators, enhancing accessibility and concurrently mitigating associated risks. This strategic aggregation of resources contributes to the overall efficiency and security of zero-knowledge proof-based applications within the decentralized landscape.

ZKPool stands as an open and permissionless platform designed to interconnect diverse Zero-Knowledge Proof (ZKP) projects and provers, encompassing several key functionalities:

Capacity Aggregation: ZKPool consolidates the computing power of smaller-scale provers, functioning as a super prover proxy and supplying essential stakes to ZKP projects.
Competitive Pricing and Risk Mitigation: ZKPool offers competitive pricing structures to successfully secure proof tasks, thereby minimizing the inherent risks associated with potential penalties or slashes.
Reward Distribution: ZKPool plays a pivotal role in the equitable distribution of rewards among participating provers, fostering a collaborative and incentivized ecosystem.
Simplified Onboarding: ZKPool streamlines the onboarding process for both provers and ZKP projects, enhancing accessibility and reducing barriers to entry. This simplification contributes to participants’ broader adoption and seamless integration into the ZKP landscape.

ZKPool is a forward-looking project crucial in accelerating Zero-Knowledge Proofs while maintaining decentralization. It has partnered with notable entities in the ZKP space, including Scroll, Taiko, and Aleo.