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Projects in this issue
Disclaimer The content is for educational purposes only. It is not investment advice. Digital assets carry risk that includes total loss. Do your own research and consult a professional adviser.
1. Zama
Sector: Confidentiality layer for blockchains with fully homomorphic encryption
Status: Public testnet live. Mainnet and TGE targeted for late 2025
Zama is building a confidentiality layer that brings fully private smart contracts to existing EVM chains through FHE. Developers write familiar Solidity while Zama’s fhEVM types keep inputs and state encrypted end to end. Contracts remain composable with public DeFi and are verifiable on public chains.
The protocol stack includes host contracts that emit symbolic FHE operations, off chain Coprocessors that execute TFHE based compute with proofs, an Arbitrum based Gateway that coordinates verification and rewards, and a decentralized KMS that shards the global decryption key. Testnet usage shows real traction across encrypted transactions, confidential contracts and active wallets.
Features
- Confidential smart contracts on any EVM chain using encrypted types in Solidity
- Coprocessor design with symbolic execution on chain and parallel FHE compute off chain
- Decentralized KMS with threshold MPC and on chain access control lists
- Cross chain confidentiality through the Gateway with staking and rewards
- Production grade tooling with TFHE rs, Concrete compiler, Concrete ML, SDKs and templates
Investors
- Pantera Capital and Blockchange Ventures co led a fifty seven million dollars Series B
- Multicoin Capital and Protocol Labs co led a seventy three million dollars Series A
- Angels include Juan Benet, Anatoly Yakovenko and Gavin Wood
Total funding: $130Mf after the Series B
Team
- Dr Rand Hindi, co founder and chief executive
- Dr Pascal Paillier, co founder and chief technology officer
- Prof Nigel Smart, chief academic officer
- Dr Marc Joye, chief scientist
Token
Token: $ZAMA
Utility: Protocol fees, staking and delegation to Coprocessors and KMS operators, and governance
Token design: Fees are burned. Operator rewards are minted every epoch under a delegated proof of stake model with slashing. Initial operator set includes Coprocessors and KMS nodes with a path to permissionless participation
Launch info: TGE targeted for late 2025 with Ethereum mainnet launch. The team previously warned about fake tokens
2. Threshold Network tBTC
Sector: BTCfi with non custodial Bitcoin bridge, lending and stablecoin utility
Status: Active mainnet with multi chain integrations across Ethereum, Base, Arbitrum, Starknet and Sui
Threshold Network powers tBTC, a decentralized bridge that brings native BTC into on chain markets. A randomly selected cohort of independent signers controls deposits using threshold ECDSA. The design removes centralized custody risk and enables BTC to move across leading DeFi venues.
tBTC has grown into blue chip BTC collateral with listings on major money markets and wallet integrations. The protocol continues to expand direct minting on additional chains with transparent operations and a security program that includes audits and a public bug bounty.
Features
- Trust minimized BTC bridge with rotating signer cohorts and direct redemption back to Bitcoin
- Direct minting to multiple chains with a single flow and user friendly SDK
- Integrations with Aave v3, SparkLend, Compound, Venus, Gearbox and more
- Threshold USD, an over collateralized stablecoin backed by TBTC and ETH with stability pool mechanics
- Security program with audits, public bug bounty and timelock upgrade process
Investors
- Polychain Capital led NuCypher’s professional staking round at ten point six seven five million dollars
- Keep and Thesis raised seven point seven million dollars with participation from top funds
- Thesis raised twenty one million dollars Series A to continue development
- Threshold DAO funded Threshold Labs with a two point eight five million dollars year one budget
Team
- MacLane Wilkison, co founder and Threshold Labs lead
- Matt Luongo, founder of Keep and early tBTC architect
- Callan Sap Sarre, co founder and chief product
- Isabella Yu, growth lead
- Ethan Hassall, head of business development
Token
Token: $T
Utility: Governance and work token used for staking and for running network services
Tokenomics: Initial supply ten billion T distributed to NU and KEEP holders and to the DAO treasury. An additional one point one five five billion T expanded the supply for bootstrap incentives. Current total supply stands at eleven point one five five billion T
Launch info: Threshold launched in January 2022. tBTC v2 launched at the end of January 2023. T trades on major exchanges
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3. RedStone
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Sector: Modular oracle for verifiable off chain data
Status: Active across many chains with token live
RedStone separates data production from on chain consumption. Builders choose Push, Pull or Hybrid delivery to optimize cost, latency and security by use case. The network ensures data availability through multiple distribution layers and cryptographic attestations for provenance.
Security scales with an EigenLayer AVS and a large restaking commitment from Ether fi. Performance advances include RedStone Bolt which co located nodes near chain sequencers and demonstrated millisecond level updates for high frequency DeFi. Reach extends beyond EVM with a first oracle integration on TON.
Features
- Push, Pull and Hybrid models including ERC 7412 based delivery
- Redundant availability with enterprise gateways, p2p nodes, MQTT and Streamr plus shadow relays
- EigenLayer AVS security with significant restaked capital and operator diversification
- Real time updates with RedStone Bolt and very low latency targets
- Specialized feeds for LST and LRT assets, principal tokens, real world assets and proof of reserve
Investors
- Arrington Capital led a fifteen million dollars Series A with broad participation from top crypto funds
- Lemniscap led a seven million dollars Seed round with strong strategic backers
- Pre seed and angel financing added early firepower to ship the core stack
Team
- Jakub Wojciechowski, founder and chief executive
- Marcin Kaźmierczak, co founder and chief operating officer
- Alex Suvorov, co founder
- Mateusz Gurbiel, head of business development
Token
Token: $RED
Utility: Security and utility token for staking in the RedStone AVS with rewards from data feed usage across chains
Tokenomics: Max supply one billion RED. Initial float around twenty eight to thirty percent. Distribution includes Community and Genesis, Protocol Development, Core Contributors, Ecosystem and Data Providers, Binance Launchpool and Early Backers. Contracts live on Ethereum and Base
Launch info: TGE in March 2025 following Binance Launchpool with subsequent exchange listings
4. Taraxa
Sector: Layer 1 EVM compatible BlockDAG focused on DeFi and social AI data integrity
Status: Active mainnet since April 2023
Taraxa combines an inclusive BlockDAG with a PBFT finalization chain to reach true finality in under four seconds while staying fully EVM native. The design targets cost efficiency and high throughput with deterministic ordering through an internal Anchor Chain.
The network positions itself as a performance first Layer 1 that retains Ethereum tooling. Live metrics show a healthy staking ratio, dozens of validators and active grants and bridges that support early DeFi growth and data integrity use cases.
Features
- t Graph consensus that blends inclusive BlockDAG ordering with PBFT finalization
- One hundred percent EVM compatibility for painless migration
- Ficus Root Bridge for movement between Ethereum and Taraxa
- Ecosystem grants with on chain governance approval
Investors
- Early backing from Fenbushi Capital, MW Partners Group and SNZ with additional accelerator support
- Funding disclosed around nineteen million dollars cumulative
Team
- Steven Pu, co founder and chief executive
- Justin Snapp, co founder and chief technology officer with Stanford PhD
- Prof Maurice Herlihy, advisor and leading distributed systems researcher
Token
Token: $TARA
Utility: Gas for transactions, staking to secure the network and governance voting
Tokenomics: Initial supply ten billion with additional issuance for staking rewards in early phases. Public materials indicate circulating supply near six billion with a path toward a capped model. Historical allocations include team, foundation, investors and ecosystem programs with multi year vesting
Launch info: Public sale in March 2021 with gradual unlocks that aimed to align long term incentives
5. BounceBit
Sector: CeDeFi plus BTC restaking plus RWA integrated EVM compatible Layer 1
Status: Active mainnet with CeDeFi V3 and Prime live
BounceBit blends institutional custody with on chain composability. Liquidity Custody Tokens unlock balances held with custodians so capital can earn CeFi yield while remaining usable in on chain strategies. The chain uses a dual token proof of stake model where validators bond BB together with BTC or BBTC.
Users access cross chain deposits and vaults that issue rebasing voucher tokens. Prime aims for consistent returns by combining tokenized Treasuries with market neutral strategies. Builders can launch apps through BounceClub, which functions like an app store for the BounceBit ecosystem.
Features
- Dual token validator security with BB and BTC or BBTC
- Liquidity Custody Tokens that connect off exchange balances to DeFi
- BB Token V3 with transferable rebasing vouchers such as BBTC and BBUSD
- Prime vaults that layer RWA collateral with automated market neutral strategies
- BounceClub ecosystem for rapid app launches
Investors
- Blockchain Capital and Breyer Capital co led a six million dollars seed round
- Strategic participation from YZi Labs with additional support from leading funds and angels
Team
- Jack Lu, founder and chief executive with previous venture experience at NGC Ventures and Bounce Finance
Token
Token: $BB
Utility: Native gas, staking and delegation rewards, governance and medium of exchange within ecosystem apps
Tokenomics: Max supply two point one billion BB. Allocations include Staking Rewards and Delegation, Ecosystem Reserve, Investors, Team, Advisors, Binance Megadrop, Testnet and TVL incentives and Market Making with multi year release schedules
Launch info: TGE through Binance Megadrop in May 2024 with listings across multiple trading pairs
Today's Token Metrics insights are brought to you in partnership with Finance Buzz.
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