Orderly Network, zCloak Network | Hidden Gems – Web 3
Review Date: June, 28th, 2022
Token Metrics Hidden Gems – Web 3 Infrastructure Projects
We scored many projects this week. Here are a few you should know about:
- Orderly Network
- zCloak Network
Please keep in mind that some of these projects have not yet been subjected to our code review process, but we want to call them out here for preliminarily catching our eye based on our fundamental analysis process.
Orderly Network (79%)
Website – Documentation
Orderly is creating a modular blockchain leveraging Near Protocol to advance DeFi primitives and standards by creating a high throughput, low latency, low fee blockchain which can provide tight spreads and composability for DeFi products.
Why we like it
Leveraging the sharding capability of NEARs blockchain, the orderly is creating a permissionless, decentralized exchange protocol an modular ecosystem built for DeFi. Using an on-chain order book they aim to bring NEARS DeFi ecosystem to new heights by creating a modular blockchain for dApps to build on top of. While decentralized DeFi products like DyDx and Perpetual protocol brought a new level of comfortability to traders we still see more volume across centralized entities. To skip out on the high fees, commissions and slippage of existing prolific L1s, orderly aims to provide the following offerings to dApp builders:
- Integration with bridges which allows for smooth deposits/ withdrawals from any L1
- A combination of order book efficiency and on-chain settlement provides users a marketing-leading execution with low latency and minimal fees
- Immediate access to deep liquidity with the help of the largest market makers in the space
Investors
$20 million raised from Three Arrows Capital, Pantera Capital, DragonFly Capital, Sequoia Capital, Jump Crypto, Alameda Research, and GSR Ventures. Ecosystem partners include Near and Woo Network.
The Team
Cross-collaboration between Near Protocol and Woo Network to build first-class modular DeFi infrastructure capable of providing throughput/services similar to centralized exchanges.
Token Utility
TBA
Where can you buy the token
TBA
zCloak Network (76%)
Website – Documentation
zCloak is creating a privacy gateway for all public blockchains, providing zero-knowledge proofs as a service. By combining the latest progress in ZK proofs and verifiable credentials, zCloak created a new computation paradigm on a clients device instead of centralized servers.
Why we like it
zCloak is allowing users to own their own data across all major public blockchains while maintaining their privacy via their Cloaking Space mechanism. Using a proprietary zK-Stark virtual machine called Distaff VM which can be used by anyone to verify that a program was executed correctly without knowing the inputs to the program or even the program itself. zCloak aims to bring new heights to data availability and privacy across blockchains through the following mechanisms
- zCloak Wallet: e.g. getting a loan via the cloaking space will give users the privacy of having their data never leaving.
- zCloak Blockchain: built with Substrate, their blockchain will emphasis the model of ZKP as a service, applications built in the network inherit privacy/scalability.
- zKP service network: zCloak Network will provide the basic IPFS infrastructure for the storage of user STARK proofs. In addition, existing public IPFS services such as arweave or Crust can also be leveraged for this purpose.
Investors
$7 million raised from Jump Capital, Hypersphere, KuCoin Ventures, Coinbase Ventures, and IOSG ventures. Partnerships include blockchains like Polkadot, Polygon, Binance Smart Chain, and other Polkadot ecosystem projects like Kilt Protocol, and Litentry.
Team
zCloak was founded by Xiao Chang and he currently leads a 5-person team according to the projects Github Repository.
Token Utility
TBA
Where can you buy the token
TBA
