TOKEN METRICS WATCHLIST

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

WiFi Map
Teleport
Astria
The Root Network
Velar

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.

Wifimap- 66.67%

Sector – DePIN
Status – Active

WiFi Map is a dedicated initiative aimed at democratizing global internet access through its all-encompassing platform, emphasizing user satisfaction and experience strongly. At its core, WiFi Map boasts a robust application catalogs millions of free WiFi hotspots worldwide, establishing itself as a premier resource for individuals seeking internet connectivity, especially in unfamiliar or remote regions.

Use Cases

Secure VPN: Users can safeguard their data during internet browsing by utilizing a virtual private network for enhanced protection.
Global eSIM: Using cutting-edge cellular technology, the eSIM mobile data service ensures connectivity in over 70 countries.
Offline Maps: Users can access the extensive database of free WiFi hotspots on the go, ensuring constant accessibility to online connectivity.
WiFi Finder: With coverage spanning over 200 countries, users can seamlessly connect to numerous public WiFi hotspots, guaranteeing swift and cost-free internet access.

These functionalities are integral to WiFi Map’s mission to facilitate widespread access to internet resources, catering to diverse user needs and geographical contexts.

Tokenomics

The WiFi Map platform extends exclusive benefits to $WIFI token holders, allowing them to leverage their tokens for a range of services, notably including eSIM data packages. Moreover, token holders can partially or fully return unused data packages, receiving a proportional amount of $WIFI tokens. Any unused $WIFI tokens remain securely stored within the holder’s account for future use.

The utility of $WIFI tokens encompasses access to diverse services, commencing with eSIM data packages and expanding to encompass VPN protection, offline maps, and an ad-free browsing experience. The introduction of the $WIFI token heralds many advantages, notably a compelling 15–20% $WIFI cashback incentive upon token redemption for eSIM services. This initiative aims to enhance the value and utility of $WIFI tokens within the WiFi Map ecosystem, fostering a mutually beneficial relationship between token holders and the range of services available on the platform. $WIFI is also the reward for the participants contributing to the network.

$WIFI has a maximum supply of 1 billion.

Where can you buy the token?

You can buy $WIFI from exchanges like Gate.io, OKX, BingX etc.

Teleport- 62.50%

Sector – DePIN
Status – Active

Teleport represents a decentralized ride-hailing application developed on the Solana blockchain. It is built by The Ride Sharing Protocol (TRIP). TRIP facilitates the connection between drivers and passengers, leveraging peer-to-peer blockchain technology to eliminate intermediaries and break free from the confines of apps controlled by large corporations.

The platform’s primary goal is to disrupt existing ecosystems by creating a more balanced opportunity framework for drivers and customers. This is achieved by decentralizing service provisioning and driver dispatching, allowing for a collaborative network among local, agile rideshare entities. Through TRIP, these entities unite to form a global network that benefits drivers, riders, and regional economies and operates autonomously under its participants’ governance.

This approach fosters a fairer rideshare marketplace and ensures control lies with the involved participants rather than intermediaries.

How it works?

Riders can inquire about available offers from various Operators. Depending on local insurance, regulations, and operational necessities, Drivers can be simultaneously connected or online with multiple Operators. They can promptly deactivate their active status with one Operator and transition to another. The Operator bears full responsibility for ensuring compliance with local legal requisites.

When an Operator with active drivers receives a ride request from an eligible rider, it assesses the proximity of nearby drivers and employs an internal pricing mechanism to generate offers for both drivers and riders. These offers encompass pricing details and estimated time of arrival (ETA). Drivers exclusively receive offers from their active Operator, whereas riders receive offers from all duly validated and licensed Operators in the relevant geographic area. Drivers and riders must accept the pricing offers before mutually confirming a trip. Comprehensive pricing information and the percentage taken by all involved entities are transparently accessible to all participants. Upon completing a ride, the contract finalizes all outstanding payment balances from escrow. The rider and driver applications relay pertinent information to The TRIP Marketplace, including estimated arrival time (ETA) and actual ride duration. This data assists The TRIP Marketplace in verifying that Operators furnish accurate ETA estimates.

Investors

Token

The details of the token will be revealed later. However, some information is available, as the TRIP Network operates under the governance of TRIP Rewards holders. These rewards, whether in non-fungible or fungible token forms, signify participation and hold voting rights within the network. Overall governance, such as protocol enhancements, alterations to authorization flows, and modifications to fundamental network aspects, necessitates voting processes.

Astria- 62.50%

Sector – Modular Blockchain
Status – Testnet

Astria is a collaborative sequencing network that enables multiple rollups to partake in a unified decentralized sequence infrastructure. The associated sequencers are characterized by their simplicity and open admission, offering a complete replacement for centralized sequencing mechanisms. These sequencers, which are both simple and permissionless, serve as substitutes for their centralized counterparts. Acting as middleware, the network possesses its decentralized sequencer set, consolidating transactions from various rollups into a systematically ordered block, subsequently written to the base layer without immediate execution.

The shared sequencer network not only ensures out-of-the-box censorship resistance, rapid block confirmations, and atomic cross-rollup composability but also preserves the sovereignty of each rollup. Astria’s vision extends towards a future where many decentralized rollups can thrive, each tailored to meet the distinctive requirements of diverse industries, applications, and use cases.

Astria facilitates atomic transaction inclusion across rollups by incorporating native transaction bundles, granting users conditional transaction inclusion capabilities. This innovative feature unlocks possibilities such as atomic cross-rollup arbitrage, ultimately enhancing interoperability and overall system functionality.

Investors

Team

The Root Network – 62.50%

Website | X(Twitter)

Sector – Layer 1
Status – Active

The Root Network is the foundational blockchain infrastructure prioritizing user onboarding to enhance the web3 experience. Although the initial onboarding process in web3 lacks the user-friendliness and safety measures seen in web2, web3 provides heightened privacy and greater flexibility in managing assets and data once users are successfully onboarded.

The Root Network relies on Substrate, benefiting from a strong developer community and customizable chain runtimes to enhance user experiences.
Integrating EVM support allows Solidity smart contracts to operate within The Root Network, facilitating easy migration of Ethereum code and broadening support for smart contracts and dApps.
Custom runtimes for Non-Fungible Assets, Fungible Assets, Decentralized Exchange, and more simplify app development without demanding smart contract expertise, prioritizing a seamless onboarding experience.
The Network’s unified approach to Non-Fungible Assets across the network enables interoperability and common standards for minting, royalties, and content formats.
Fungible Assets runtime simplifies token creation without deploying smart contracts, and some new asset creation fees benefit network node validators.
The Exchange Runtime offers in-chain DEX features for trading collectibles and building liquidity, free from smart contract deployment. Exchange fees go to node validators, and integration with the XRPL DEX boosts liquidity.
The network supports collectible bridges, allowing assets from various networks to gain utility within The Root Network, fostering interoperability and expansion across evolving ecosystems. Additionally, it serves as a hub for other networks, aiding developers in building interoperable content within the ecosystem.

Token

$ROOT is the native token within The Root Network’s ecosystem, boasting a maximum supply of 12 billion tokens. Its primary functions encompass the following areas:

Governance: $ROOT is significant in governing the network and overseeing pivotal functions like onboarding new chains, running software upgrades, and managing the block reward economy.
Powering the Data Marketplace: This token incentivizes data sharing with third parties through the Token Service platform.
FLUF World Utility and Game Economy: As the primary in-game token for FLUF World, $ROOT serves various purposes, including stake-to-earn and stake-to-play, enabling reward land mechanics and facilitating content purchases.
Staking: Users can stake $ROOT tokens to earn network fees, represented in Vortex tokens. Distributed every 90 days, these Vortex tokens constitute a mix of tokens within the Vortex, such as ROOT and XRP.

Where can you buy the token?

You can buy $ROOT from exchanges like Bybit, Kucoin, MEXC etc.

Velar- 60.42%

Sector – DeFi on Bitcoin
Status – Testnet

Velar represents a pioneering DeFi protocol designed to realize Bitcoin’s full potential by establishing an array of sophisticated DeFi products atop the Bitcoin network. The protocol is strategically positioned to harness Bitcoin’s foundational security and transaction finality, augmenting these strengths by utilizing Layer 2 solutions such as Stacks to enable scalability and significantly enhanced transaction throughput.

Velar will introduce a decentralized exchange (DEX), liquidity pools, yield farming solutions, staking infrastructure, and a launchpad among its distinctive offerings. Each component is meticulously crafted to function autonomously as a standalone DeFi application.

A fundamental objective of Velar is to establish an authentically decentralized financial ecosystem centered around Bitcoin. Recognizing the immense potential inherent in DeFi applications built on Bitcoin, the project endeavors to unlock and amplify these opportunities. Velar aspires to create an inclusive and secure DeFi landscape, ensuring accessibility to all while relying on the robust security framework of Bitcoin. Velar is positioned on Stacks to tap into this immense value and become the central hub for DeFi activity on Bitcoin and Stacks.

Token

Velar is set to introduce its native token, $VELAR, as the cornerstone of its ecosystem, facilitating operations and enabling governance mechanisms. Participants, including users, liquidity providers, and developers, will actively engage in governance processes, collectively contributing to the formulation and evolution of the protocol’s trajectory and features.