We scored multiple projects this week. Here are a few you should know about:
Axone
Libera
Kittenswap
Plasma
Mubert
Please remember that some of these projects still need our code review process. Still, we want to highlight them here because they initially caught our attention through our fundamental analysis process.
1. Axone - 70.42%
Sector - L1
Status - Testnet
Axone is pioneering the first semantic orchestration layer for decentralized AI, built on the Cosmos SDK to connect AI builders, data providers, and infrastructure through a standardized interface. It facilitates collaborative AI workflows governed by customizable "Zones" focusing on privacy, interoperability, and fair value sharing.
With over 25,000 users on its KatAI testnet and a mainnet launch likely completed in Q2 2025, Axone is well-positioned to lead in the AI-blockchain intersection. Backed by investors like Outlier Ventures, MN Capital, and Mozaik Capital, and with recent partnerships such as Kima for AI-related payments, Axone is gaining traction in the decentralized AI ecosystem.
1.1. Features
Semantic Orchestration Layer: Integrates on-chain ontologies with a Prolog-based logic engine to enable verifiable coordination across AI agents, data, and infrastructure, reducing complexity in collaborative AI development.
Customizable Governance Zones: Allows users to define specific rules and policies for AI workflows, ensuring flexibility and control tailored to diverse use cases like healthcare or research.
AI Factory: A permissionless launchpad for collaborative AI model development, leveraging decentralized governance through tokenized voting to foster innovation.
Decentralized Identity (DID): Ensures secure, private, and verifiable participant interactions, complying with user preferences and regulatory requirements.
1.2. Token
$AXONE is the native utility token of the Axone protocol, serving as the economic backbone for its decentralized AI and data-sharing ecosystem. It is designed for a Layer-1 blockchain, thus for the infrastructure and value exchange mechanisms across the network, enabling a collaborative and sustainable economy for AI and data resources.
The supply is dynamically managed through a combination of inflationary rewards and deflationary burns, and its utility spans security, governance, payments, and incentives throughout the Axone ecosystem.
1.2.1. Utility
Network Security and Governance: Token holders stake $AXONE to secure the network and participate in governance, voting on protocol upgrades and economic parameters.
Transaction Fees: Like other proof-of-stake chains, $AXONE is required to pay transaction fees and on-chain operations.
Workflow Payments and Rewards: The primary medium for workflow payments, resource orchestration, and provider rewards within the Axone "Dataverse," ensuring fair value distribution among contributors.
Zone-Level Functions: Within individual "zones", autonomous economic microcosms, $AXONE is used for access control (via staking), reputation management (token locking), and project bootstrapping for DataDAOs, AI agents, or model training initiatives.
Incentive Mechanisms: The token enables sophisticated incentive models, such as stake-for-access, curation markets, and automated revenue-sharing, which underpin the collaborative nature of the ecosystem.
Deflationary Mechanisms: The 2% workflow tax is burned, reducing supply and potentially increasing token value as protocol utilization grows. Additional taxes may be collected for community initiatives or public goods funding.
1.3. Investors
2. Libera - 71.67%
Sector - AI
Status - Active
Libera leverages Decentralized Knowledge Graph (DKG) technology to digitize retail in emerging markets. It aims to capture billions of untracked purchases and digitize 10 million stores. Libera serves small merchants and major brands by enhancing supply chains, increasing profits, and democratizing financial access.
Currently deploying in Indonesia and the Middle East, with plans for Latin America. Libera is incubated by SingularityDAO and Bybit Blockchain for Good Alliance. Supported by investors like Animoca Brands and clients like P&G, Libera is poised to transform retail with AI-driven solutions.
2.1. Features
Decentralized Knowledge Graphs: Provides real-time insights into retail transactions by integrating with existing IT systems, enabling data monetization for supply chain optimization.
Display AI: Enhances product visibility and consumer engagement through AI-powered recommendations, driving sales for retailers.
Receipt Scan: Captures transaction data to track sales and inventory in real-time, improving operational efficiency for micro-retailers.
Point of Sale Technology: Streamlines operations for small merchants, offering user-friendly tools to enhance accuracy and speed.
Digital Voucher System: Reduces fraud and builds trust using AI-verified transactions, ensuring secure and transparent voucher distribution.
2.2. Token
$LIBE is the native utility and reward token within the Libera Global AI ecosystem. It is designed to drive financial inclusion, incentivize data sharing, and power a collaborative data economy, particularly in emerging markets.
The token serves both merchants and consumers by enabling access to platform features, personalized business recommendations, and gamified experiences. It also acts as a medium for accumulating and exchanging rewards for tangible financial benefits.
2.2.1. Utility
Rewards and Incentives: Merchants and consumers earn $LIBE for sharing sales, purchases, and behavioral data. These tokens can be exchanged for local currency or used within the platform to unlock rewards, discounts, and cashback benefits.
Tiered Engagement: Users are ranked into tiers based on their data contributions and token holdings, unlocking exclusive benefits such as advanced business insights, personalized recommendations, and higher cashback rates at higher tiers.
Liquidity and Progression: Token holders can use $LIBE to boost their platform score, accelerate tier progression, and access unique platform features, fostering continuous engagement and high-quality data generation.
DeFi and Financial Inclusion: $LIBE supports DeFi functionalities, such as serving as collateral for microloans and other financial products. This expands small merchants' access to credit and capital, furthering economic empowerment in underserved markets.
Ecosystem Funding: A portion of Libera's revenue is allocated to a marketing pool, which funds community engagement initiatives and rewards users for contributing valuable data, ensuring a fair and sustainable value distribution.
2.3. Investors
3. Kittenswap - 67.50%
Sector - DeFi
Status - Active
Kittenswap is a community-owned decentralized exchange (DEX) built on HyperEVM, utilizing ve(3,3) tokenomics for vote-escrow governance. With no venture capital involvement and a 35% airdrop allocation, it empowers users to control token emissions and earn fees, fostering a strong community. Recent developments include new pools with stablecoins like USDHL, feUSD, and USDT0. The protocol has a TVL of $44M, a daily volume of $33M, and daily fees of $53,000, signaling robust growth as it approaches its token generation event (TGE).
3.1. Features
ve(3,3) Tokenomics: Users lock KITTEN tokens to gain veKITTEN, enabling them to direct emissions and earn protocol fees, aligning incentives for long-term engagement.
User-Guided Rewards: Community members can vote on where incentives are allocated, promoting active participation and ecosystem growth.
Boosted Earnings: veKITTEN stakers receive enhanced rewards for providing liquidity and trading, incentivizing deeper involvement.
Low-Slippage Trading: Ensures deep liquidity and optimized trade routes, offering efficient and cost-effective trading experiences.
Governance Participation: veKITTEN holders can vote on protocol upgrades and parameter changes, giving the community control over the platform's evolution.
3.2. Token
$KITTEN is the native utility and governance token of the KittenSwap decentralized exchange (DEX) ecosystem. It is designed to incentivize participation, facilitate governance, and fuel the platform's core DeFi functionalities, aligning user interests with the long-term growth and sustainability of KittenSwap.
3.2.1. Utility
Governance: Holders can participate in protocol governance by proposing and voting on changes, such as fee structures, new feature integrations, and allocation of treasury funds.
Incentives: $KITTEN rewards liquidity providers and active participants, incentivizing users to contribute liquidity and engage with the platform.
Fee Discounts: Users who hold and stake $KITTEN can receive discounts on trading fees, making participation in the DEX more cost-effective.
Staking and Yield: $KITTEN can be staked to earn additional rewards, further encouraging long-term holding and ecosystem stability.
Ecosystem Development: The token funds partnerships, community initiatives, and platform upgrades through the treasury, ensuring continued innovation and growth.
4. Plasma
Sector - L2
Status - Active
Plasma is a high-throughput, zero-fee payment platform built on Bitcoin that is purpose-built for stablecoins using a novel Nakamoto Proof of Stake (PoS) consensus. Plasma is gaining significant traction after raising $24M from investors like Founders Fund and recently reaching a $500M deposit cap with 1,100+ wallets as part of its token sale.
Plasma's architecture addresses pain points in existing stablecoin infrastructure, such as high fees and slow settlement, by offering zero-fee USDT transfers and confidential transactions for institutional adoption. The EVM compatibility ensures broad DeFi integration, while partnerships with major on/off-ramps and DeFi protocols (like Aave, Curve, and Ethena) provide immediate utility and liquidity for supported stablecoins.
4.1. Features
Zero-Fee Transactions: Eliminates gas fees for USDT transfers, making it cost-effective for users and merchants.
High Throughput: Supports over 1,000 TPS, significantly improving Bitcoin's base layer for faster transactions.
Nakamoto PoS Consensus: Enhances security and performance with sub-second difficulty adjustments, ensuring robust network operations.
Hybrid UTXO/Account Architecture: Enables modular smart contracts and full EVM compatibility, supporting diverse DeFi applications.
Bitcoin Integration: Allows gas fees to be paid in BTC and integrates seamlessly with existing Bitcoin infrastructure for accessibility.
4.2. Token
$XPL is the native token of Plasma, a blockchain purpose-built to optimize stablecoin transactions by combining Bitcoin's security with Ethereum Virtual Machine (EVM) compatibility.
The token is designed as the backbone of Plasma's new global financial system, and $XPL plays a central role in network security, transaction execution, and cross-chain interoperability, particularly for stablecoins like USDT.
4.2.1. Utility
Network Security: $XPL secures the PlasmaBFT consensus mechanism, ensuring robust and decentralized validation of transactions.
Transaction and Execution Fees: The token powers execution through Plasma's Reth-based EVM, facilitating fast, scalable, and low-fee transactions, especially for stablecoins.
Bitcoin Bridge: $XPL underpins Plasma's trust-minimized Bitcoin bridge, enabling seamless and secure movement of assets between Bitcoin and Plasma.
Governance: As the native token, $XPL is expected to participate in protocol governance, allowing holders to participate in key decisions about network upgrades and economic parameters.
Ecosystem Incentives: $XPL will likely be used to incentivize validators, bootstrap liquidity, and reward ecosystem participants as the network grows.
4.3. Investor
The Plasma team has raised $24M across multiple funding rounds. The first was $3.5M in October 2024, led by Bitfinex and participated in by Anthos Capital, Manifold, Karatage, and others. The second was a $20.5M Series A in February 2025, led by Framework Ventures and Bitfinex, and participated in by 6th Man Ventures, Flow Traders, Laser Digital, Bybit, and others.
5. Mubert
Sector - L1
Status - Active
Mubert, founded in 2017, integrates Web3 technology with music creation, developing a Polkadot-based protocol for the Creator Economy. With 1 million users, 3.6 million API users, and 10,000 registered musicians, Mubert ensures fully licensed content and ethical AI practices. Its recent partnership with Polkadot and Web3 Foundation to build a decentralized data chain addresses fragmented ownership and royalty issues, positioning Mubert as a leader in decentralized content monetization.
5.1. Features
On-Chain Music Minting: Tokenizes copyrights and enables royalty rewards, providing creators with transparent ownership and monetization.
Generative AI Studio: Allows musicians to create and monetize AI-generated music, fostering innovation in content creation.
Decentralized Data Chain: Powers the Creator Economy with transparent licensing and ownership across all media formats.
Web3 SDK: Integrates with apps and games for seamless music incorporation, enhancing accessibility for developers.
5.2. Token
The native token associated with the Mubert Protocol is the Creative Data Token ($CDT). This token is integral to the protocol's economic and governance systems, serving as the primary medium for data transactions, royalty payments, and on-chain revenue splits.
5.2.1. Utility
Royalty Rewards: CDT pays royalties to creators, dataset contributors, and rights holders each time their content or data is used in generative outputs or licensed to third parties. This ensures transparent and automated compensation.
Staking and Curation: Users can stake CDT on specific artists, genres, or tags, earning a share of the royalties generated by those assets. This incentivizes curation and discovery of high-quality content.
Access and Premium Features: Holding or staking CDT grants access to premium content, hidden catalogs, and exclusive features within the protocol, supporting a tiered experience for creators and consumers.
Governance: Token holders can participate in protocol governance, voting on feature upgrades, fee structures, royalty distribution models, and the onboarding of new content types or genres.
Microtransactions and Licensing: CDT facilitates micro-payments for licensing, revenue splits, and data transactions, enabling seamless monetization for large-scale content usage.
On-chain Attribution and IP Management: All content and data transactions are recorded on-chain, with CDT enabling transparent attribution, IP verification (including zero-knowledge proofs for privacy), and automated rights management.
5.3. Investor
The Mubert team has received a grant and support from Polkadot and Web3 Foundation.
