2025 Crypto Hidden Gems: Week #15

We scored many projects this week.

Author

Token Metrics Research
April 10, 2025

This week’s Hidden Gems

Side Protocol - 69.52%

Sector - L1
Status - Active

Side Protocol is a Bitcoin-compatible Layer 1 blockchain, designed to enhance the Bitcoin ecosystem by providing native Bitcoin integration and cross-chain interoperability. It aims to serve as a Decentralized Finance (DeFi) hub for assets such as BTC, Ordinals, and Runes.

The project leverages Delegated Proof-of-Stake (dPoS) consensus to improve blockchain applications' scalability, performance, and usability while maintaining Bitcoin’s core principles. It also utilizes an interchain tech stack, which integrates a WASM-based smart contracts environment, thus supporting applications across AI, DePIN, DeFi, and more. Side Protocol enables seamless connectivity with other ecosystems like Ethereum, Solana, and Cosmos. 

Side Protocol addresses the limitations of traditional Bitcoin transactions, such as high fees and slow confirmation times, by introducing a modular infrastructure that supports advanced financial services directly tied to Bitcoin. 

Features

  • Native Bitcoin Compatibility: Supports Taproot and SegWit addresses, enabling seamless integration with any Bitcoin wallet without third-party dependencies. 

  • Cross-Chain Interoperability: Facilitates interaction with other blockchains, enhancing ecosystem liquidity and asset compatibility. 

  • Side Wallet: A browser extension wallet offering native BTC-backed loans and support for Bitcoin and Side Chain transactions. 

  • Embedded DeFi Center: Acts as the liquidity hub for the Bitcoin ecosystem, supporting BTC, Ordinals, Runes, and other bridged assets from other ecosystems. 

  • Modular Infrastructure: Provides tools for building decentralized applications on Bitcoin, including Side Wallet, Side Hub, Side Bridge, and Side Station. 

Token

$SIDE is the native utility token of the ecosystem while BTC serves as the primary asset across all Side Protocol products. The total supply of $SIDE is one billion, allocated across the following categories. 

Fees generated from products such as Side Finance, Side Chain, Side Hub, Side Bridge, the native DEX, and future offerings are used to buy back and burn $SIDE, creating a deflationary mechanism to enhance its value. In addition to BTC, $SIDE can be used to pay gas fees across the network. Other utility for the $SIDE token includes staking and governance. 

Investors

Multipli - 68.10%

Sector - DeFi
Status - Active 

Multipli is a cross-chain, zero-knowledge (ZK) powered yield farming protocol designed to democratize access to sustainable yields on both native cryptocurrencies and real-world tokenized assets (RWAs). Operating as a decentralized platform, Multipli enables users to generate consistent returns, up to 25% APY, on assets like BTC, ETH, USDT, USDC, and tokenized RWAs, regardless of market conditions. 

The protocol is built with a focus on security, privacy, and capital efficiency. It leverages delta-neutral arbitrage strategies across spot and futures markets to unlock yield opportunities for traditionally non-yield-bearing assets.  

By introducing synthetic staking mechanisms and advanced financial engineering, Multipli addresses key challenges in DeFi, such as low staking yields and the inability to stake Proof-of-Work (PoW) tokens. Multipli’s mission is to bridge the gap between idle assets and lucrative, reliable yield generation, catering to both retail and institutional investors through a user-friendly, secure, scalable ecosystem. 

Features

  • Delta Neutral Yield Strategies: Employs arbitrage between spot and futures markets (e.g., contango and funding rate differentials) to generate stable yields of 5-25% APY, insulated from market volatility, ensuring consistent user returns. 

  • Synthetic Staking for Any Asset: Enables staking of traditionally non-stakable PoW assets like Bitcoin through synthetic mechanisms and CeDeFi integrations, broadening the scope of yield-bearing opportunities. 

  • MirrorX Asset Safety: Mirrors user tokens on a custodial platform at a 1:1 ratio, keeping funds secure on-chain while earning rewards, reducing asset transfer risks. 

  • Cross-Chain Compatibility: Operates seamlessly across major blockchains like Ethereum, BNB Chain, and Solana, allowing users to stake and earn yields without being locked into a single ecosystem. 

  • Low Entry Barrier: Requires only a $10 minimum to start generating yield, making it accessible to a wide range of users, from retail investors to institutions. 

Investors

WhiteRock - 68.10%

Sector - RWA
Status - Active

WhiteRock is an on-chain brokerage platform that tokenizes real-world assets (RWA) such as stocks, bonds, and real estate, enabling decentralized trading and investment directly on the blockchain. By leveraging blockchain technology, WhiteRock democratizes access to global financial markets, breaking barriers like geographic restrictions, limited trading hours, and institutional gatekeeping. 

The platform integrates regulatory compliance with decentralized finance (DeFi), offering transparency, security, and efficiency in asset management. It also features USDX, a yield-generating stablecoin backed by U.S. Treasury bonds, providing users with risk-free returns. 

Features:

  • Tokenized Real World Assets (RWA): WhiteRock allows users to trade tokenized stocks, bonds, and real estate directly on-chain. Each asset is uniquely identified on a single ledger, ensuring transparency and tamper-proof transactions while mirroring traditional financial instruments' value and price movements.

  • USDX Stablecoin: USDX is a high-yield stablecoin backed by short-term U.S. Treasury bonds. It offers approximately 5% annual returns distributed back to users via a rebase mechanism that automatically increases wallet balances daily without lock-ups. 

  • Decentralized Lending Platform: In Phase 2 of its roadmap, WhiteRock will enable users to leverage tokenized assets as collateral for borrowing. This feature aims to provide liquidity solutions for other RWA protocols while maintaining institutional-grade risk management frameworks. 

  • Universal Tokenization Platform: Future phases will expand tokenization capabilities to include real estate, intellectual property rights, commodities, and more. This initiative aims to broaden financial inclusion by making traditionally illiquid assets accessible on-chain. 

Token

$WHITE is the native token of the ecosystem with a total supply of one trillion. 65% of the total supply is available to the public, while the team manages the remaining 35%. 20% of the 35% is allocated to core contributors, with a two-year cliff and 60 months of vesting. 

Where to Buy the Token?

$WHITE token is trading on centralized exchanges like MEXC, Bilaxy, and BingX, as well as on decentralized exchange Uniswap. The Copenhagen Edit 

Petal - 66.67%

Sector - L2
Status - Devnet 

Petal is a Solana-based Layer 2 network extension leveraging the Solana Virtual Machine (SVM) to deliver a high-throughput, secure, and scalable blockchain solution tailored for decentralized finance (DeFi), equities trading, and fintech applications. Anchored to Solana for settlement and finality, Petal integrates an on-chain brokerage to enable compliant tokenization and trading of real-world assets (RWA) such as stocks, bonds, and commodities, seamlessly blending traditional finance (TradFi) with DeFi. 

Petal embeds licensed infrastructure to address the inefficiencies of general-purpose blockchains. It offers builders and users a permissionless yet regulated ecosystem that unlocks new liquidity flows and supports innovative financial applications. The project aims to bridge the gap between TradFi and DeFi, providing a compliant, developer-friendly platform that competes with unlicensed RWA-focused L2s like Plume and offshore DeFi L2s like Eclipse. It also targets the U.S. market with its regulatory framework. 

Features 

  • Integrated On-Chain Brokerage: Embeds a licensed brokerage and ATS directly into the ecosystem, enabling compliant tokenization and trading of RWAs like stocks, bonds, and commodities on-chain.  

  • Permissionless DeFi Primitives: Allows developers to deploy existing Solana dApps or build new ones seamlessly, supporting DEXes, lending platforms, and derivatives without regulatory overhead unless opted into. 

  • Regulated Infrastructure Access: Provides builders with optional licensing and compliance tools to create U.S.-accessible, RWA-backed applications, bridging onshore innovation with offshore flexibility. 

  • Native USDC Support: The protocol will launch with native USDC integration via Wormhole bridges, ensuring immediate liquidity and compatibility with the DeFi ecosystem from day one. 

  • Scalable Data Availability with Avail: Utilizes Avail to offload data storage, ensuring high throughput and cost efficiency without compromising decentralization or accessibility. 

Investors

Petal has raised $2M from Big Brain and Third Earth Capital. 

Axiom - 67.08%

Sector - DeFi
Status - Active

Axiom is a decentralized trading platform built on the Solana blockchain, designed to consolidate and streamline the DeFi trading experience into a single, high-speed, user-friendly application. Axiom aims to simplify the fragmented landscape of decentralized finance by integrating a wide range of trading tools and asset types, including memecoins, perpetuals, and yield opportunities, into one intuitive interface.

The platform leverages Solana’s fast transaction speeds and low costs to deliver rapid execution and advanced analytics, catering to both novice and experienced traders. Axiom addresses the complexity of managing multiple wallets, bridges, and protocols in DeFi by offering a non-custodial, secure solution with features like wallet tracking and automated trading strategies. It aims to redefine how users interact with on-chain markets and capitalize on opportunities in real time. 

Features

  • Hyper-Fast Trade Execution: Utilizes Solana’s high-speed infrastructure and a custom execution engine to process trades in under a second, critical for volatile markets like memecoins. 

  • Non-Custodial Wallet: Provides a secure, air-gapped wallet via Turnkey integration, ensuring users retain full control of their private keys with no third-party custody risks. 

  • MEV Protection: Implements Miner Extractable Value-resistant pathways to safeguard limit orders from front-running bots, preserving trade fairness. 

  • One-Click Trading Strategies: Offers pre-configured, automated trading options (e.g., buy/sell on token migration), simplifying complex strategies for all users. 

  • Wallet and X (Twitter) Tracking: Monitors whale wallet activities and X chatter in real-time, delivering actionable insights to inform trading decisions. 

  • HyperLiquid Integration for Perpetual Trading: This integration offers leveraged trading for assets like Solana (SOL), Bitcoin (BTC), and Ethereum (ETH). It provides safer alternatives for experienced traders seeking higher returns. 

  • SOL Rewards Program: Distributes SOL rewards based on trading volume, referrals, and quests participation, incentivizing active use of the platform.

Token

Axiom has a live points program that allows users to earn points for each trade and referral. 

Investors

Axiom has raised $500k in an Accelerator funding round in January 2025 from Y Combinator. 

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