TOKEN METRICS WATCHLIST

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

Zoth
Bluefin
Swarm

Please remember that some of these projects still need to 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.

Zoth- 64.58%

Sector- Lending/Borrowing
TVL- Not available
Status- Active

Zoth presents a comprehensive ecosystem of solutions that effectively bridges the gap between decentralized finance (DeFi) and real-world asset classes (RWAs), thus facilitating the provision of liquidity to traditionally illiquid assets. At the heart of Zoth’s offerings is a decentralized marketplace designed to furnish fixed-income opportunities, yielding high returns on stablecoins.

Emerging Markets Lending Platform- Zoth’s primary mission revolves around establishing an innovative lending platform tailored for emerging markets, which serves as the cornerstone of its comprehensive ecosystem. This Emerging Market Lending Platform effectively facilitates access to essential capital for businesses operating in emerging markets, thus fueling their growth and expansion endeavors.

Zoth is pivotal in bridging DeFi liquidity and real-world assets (RWAs), offering a comprehensive solution for DeFi lenders. Using the RWA Lending Pool, Zoth brings esteemed assets within the grasp of DeFi lenders. The platform’s unique Tokenization module ensures compliance with RWA collateral, securely locked across multiple regions. Furthermore, Zoth’s liquidity module constructs a robust framework for generating liquidity and enhancing the utility of on-chain RWA-backed loans.

The asset onboarding process encompasses curation, meticulous due diligence, tokenization, listing, and diligent liquidity management. The Zoth index fund facilitates asset listing and issues Zoth asset tokens that correspond to the value secured in the fund. Validators play an integral role in asset validation and due diligence, and their contributions are duly rewarded with ZOTH tokens.

Token

Zoth Asset Tokens ($ZAT): ZAT is a digital token that symbolizes the deposits made by Lenders within the Zoth ecosystem. Each ZAT token is securely tethered to the US Dollar and is backed by collateral furnished by borrowers. Lenders receive an equivalent quantity of ZAT tokens when they contribute liquidity. These ZAT tokens can subsequently be redeemed within the Zoth platform.

Zoth Tokens ($ZOTH): ZOTH stands as the fundamental native token of the Zoth platform, serving multiple essential functions. These include facilitating governance voting, distributing validator rewards, disbursing liquidity staking rewards, incentivizing community engagement, and supporting grants to enhance the ecosystem’s development further.

How to Use Zoth?

Connect your wallet through Metamask or WalletConnect and complete the sign-up and KYB verification. Then, click “Lend Now,” specify your USDC amount, approve the spending limit, and confirm the transaction.

Once your loan term is up, an active “Withdraw” button will appear in the dashboard, allowing you to retrieve your lent USDC. You can also claim your earned yield using the “Claim” button in the dashboard.

BlueFin- 62.50%

Website I Twitter

Sector – Perpetual Exchange
TVL- $1.7m
Status- Active

Bluefin is developing a decentralized orderbook-based exchange tailored to meet the needs of seasoned professionals and newcomers to the trading arena. Bluefin version 1 (v1) facilitates perpetual swaps trading and is bolstered by the capabilities of Arbitrum, a Layer 2 blockchain that leverages the robust security infrastructure of Ethereum. To date, v1 has successfully processed trading volumes exceeding $1 billion.

Bluefin v2 is underpinned by Sui, a framework that empowers horizontally scalable performance, providing users with a seamless, wallet-less trading experience that rivals the ease of use associated with centralized exchanges. With the introduction of Bluefin v2, it offers the following advancements:

Sub-second optimistic trade confirmations streamed in real-time.
A wallet-less trading experience designed to enhance user convenience and security.
Spot trading is facilitated through Sui’s on-chain order book, further reinforcing our commitment to decentralization, transparency, and security.
A novel margining engine featuring cross-margining capabilities.
A Layer 1 infrastructure that has demonstrated a peak throughput exceeding 5,400 transactions per second (TPS) on mainnet, with benchmarking tests revealing peak throughputs ranging from 10,871 TPS to an impressive 297,000 TPS.

These innovative enhancements are poised to redefine the landscape of decentralized trading, offering a cutting-edge solution that combines performance, security, and user-friendliness.

Investors

Bluefin has successfully completed a seed investment round with co-led investment entities, including Three Arrows Capital and DeFiance Capital. The round also saw the participation of respected investors such as Polychain Capital, ParaFi Capital, Huobi, Mechanism Capital, Magic Ventures, Bixin Ventures, IOSG Ventures, Hypersphere Ventures, DeFi Alliance, LongHash Ventures, and Fenbushi Capital.

Bluefin DAO

In the near future, a Decentralized Autonomous Organization (DAO) will take charge of Bluefin. This DAO will enable democratic decision-making regarding protocol development, token issuance, commission rates, upgrades, markets, and more. Participants in the DAO must hold tokens to ensure their decisions align with the protocol’s best interests. It’s worth noting that while the token dynamics drive adoption and decentralization, owning tokens is not mandatory for using the exchange, providing liquidity, or trading.

Swarm- 60.42%

Sector- Real-World Assets
TVL– $721k
Status- Active
FDV- $13M

Swarm is a pioneering blockchain platform introducing innovative digitalization and trading solutions to the conventional financial landscape. Their daily endeavors revolve around collaborating with owners of real-world assets to tokenize collateral and construct a trading infrastructure that adheres to regulatory standards.

Swarm empowers users to trade cryptocurrency assets like BTC, ETH, and DAI alongside tokenized real-world assets like gold, real estate, and stocks. They function as a licensed DeFi protocol, with their inaugural product being an Automated Market Maker (AMM) decentralized exchange (DEX) built upon the Balancer Protocol. Through their compliance wrappers, Swarm is committed to eradicating the barriers that traditionally hinder institutional investors from participating in open DeFi infrastructure.

Backed by tangible assets- SwarmX, as the issuing entity, procures publicly traded securities, which are subsequently designated as the underlying assets for the on-chain tokens. They are 100% asset-backed. These assets are entrusted to institutional custodians for secure safekeeping and management.

Their regulatory compliance is key to their ability to integrate blockchain technology with financial markets seamlessly. Their hybrid model combines the advantages of blockchain-based trading with the trust and asset diversity typically found in traditional exchanges.

Token

SMT, a payment token adhering to the ERC20 protocol on the Ethereum blockchain, is a pivotal instrument in streamlining transactions and introducing a discount and rewards mechanism within the Swarm platform.

Offers essential utilities within the Swarm platform:

Reduced Protocol Fees: Traders can cut protocol fees by 50% when using SMT for payments.
Liquidity Rewards: Incentives for liquidity providers who enhance platform liquidity.
Loyalty Level Rewards: SMT holders receive rewards based on their asset ratios and wallet connection to Swarm Markets.
Additional Incentives: SMT is distributed for activities benefiting the platform, even if they don’t fit the criteria above.