If we can continue to discover and explore projects with certain innovation and potential in the bear market, and continue to pay attention to them, it is possible to bring us ten times or even dozens of times the returns in the bull market. Therefore, every few days, we will bring you a project analysis article, striving to let you learn and understand these projects from different angles. Today, let us continue to sort out and see which new projects are worth paying attention to in the near future.
The first project is Parallax Finance (PLX)
Parallax is a liquidity layer infrastructure that aims to be a strategic center focused on LSDfi products, providing support for DeFi, DAOs, and protocols. The protocol's current main focus is on LSD yield products, which consists of 4 main components: Orbital, Andromeda, Supernova, and Black Hole.
Orbital is a yield optimizer, through which Parallax uses automatic compounding to improve the returns of LPs and stablecoins. Andromeda is a multivariate yield strategy where DeFi participants can choose from any vault or create their own. Supernova is able to power LSDfi to maximize LSD derivative returns by lending your assets. Black Hole is a liquidity market where users can build assets similar to Olympus Bond on any Arb token pair through the liquidity market owned by the Parallax protocol.
In addition, the Parallax team is constantly innovating and creating new products, such as the LSD stablecoin strategy, the RWA strategy library, and hopes to build a broader product ecosystem to bring more value to PLX token holders.
The second project is Chainflip (FLIP)
Chainflip is a cross-chain automated market maker (AMM) that allows users to exchange native tokens directly between different blockchains. The main features of the protocol include:
- No KYC required
- Trade without a wallet (just enter your wallet address and perform the exchange)
- Lower slippage
- No intermediary (uses 150 validators instead)
- Decentralized node operators and governance
In addition, Chainflip also has a core driving mechanism: Just-In-Time (JIT) AMM. Compared with traditional AMMs that expose LPers to the risk of impermanent loss, JIT AMM allows market makers to provide unilateral liquidity on any price change (not just a range) to effectively eliminate the risk of impermanent loss.
Moreover, in terms of MEV (Miner Extractable Value), instead of letting users be front-runners by MEV-seeking bots, Chanflip naturally incentivizes liquidity providers to front-run each other to the benefit of users. This also ensures that users always get at least the market price or better.
In short, Chainflip's goal is to bring a better trading experience based on the advantages of DEX. In terms of tokens, FLIP is Chainflip's token, which is now online and will be subscribed on CoinList on August 31.
The third project is Adscendo (ADO)
Adscendo is a stablecoin-perpetual LSD protocol that focuses on providing users with ETH staking returns and leverage exposure. Its aUSD is a true stablecoin with no price volatility, so 1 aUSD = 1 USD.
The protocol attempts to further innovate perpetual LSD through more efficient LSD design and LSD stablecoin + LSD perpetual derivatives, with an annualized rate of return that can even exceed 140%.
aUSD: An over-collateralized stablecoin that generates leveraged returns through ETH staking.
lstETH: A leveraged ETH derivative that provides leveraged exposure to stETH without funding fees or forced liquidations.
In terms of token economics, ADO is the native token of Adscendo, which can achieve deflation through a dynamic repurchase mechanism. esADO is its governance and utility token, and its main purpose is to provide revenue sharing, voting rights, etc.
The fourth project is Vaultka (VKA)
Vaultka is a decentralized Perp DEX platform on the Arbitrum ecosystem. It mainly has the following products and features:
- LP Optimization Vaultka: can optimize the returns of Perp DEX LP by automatically hedging
- Index Investment: an index income product
- Stablecoin Lending: Stablecoin lending service
- Insight of Perp DEX Market Trend & News: A data-driven decision-making service that provides insights into Perp DEX market trends and news
The Vaultka protocol has been under construction since December last year and is said to be live soon. Their token VKA will be launched in October this year.
The fifth project is Logarithm Finance
Logarithm Finance is a decentralized liquidity management and market making protocol designed for market makers and DeFi users. Instead of constantly manipulating their positions in search of high APY, users can profit from market making activities.
The protocol is launching a new product called LPDfi (Liquidity Providing Derivatives), which can transfer liquidity across chains through various LPDs and hedge the risks of volatile assets, achieving the highest available capital efficiency in the market. In simple terms, it can earn you "risk-free" returns while preserving your funds in the simplest way.
Logarithm's two main products are Nautilus Vault and Liquidity Shell.
Nautilus Vault: Users can deposit USDC into Nautilus Vaults, the size of which depends on the available liquidity of decentralized derivatives exchanges. When USDC is deposited, the protocol opens active, highest volume LP positions in a narrow range on Uniswap V3, while hedging volatile assets using decentralized derivatives exchanges.
Liquidity Shell: Helps Logarithm users increase their returns by routing LP tokens to the best liquidity venues in the market. Simply put, we can understand Liquidity Shell as a yield aggregation platform that provides users with the highest possible returns by deploying the assets deposited by users to various strategies of the LPDfi protocol (such as Panoptic, Smilee, Infinity Pools, Limitless, etc.).
In summary, Logarithm can become a cross-chain liquidity hub in the future, connecting the entire decentralized trading network and pushing DeFi to a more advanced stage of development. In addition to Logarithm, there are some similar protocols in the LPDfi field, such as Panoptic, Limitless, Smilee Finance, Infinity Pools, etc. Interested friends can also learn about them.
The sixth project is Manta Network (MANTA)
Manta is a privacy-focused public blockchain built on ZK (zero-knowledge proof). It consists of two main parts: Manta Atlantic (Layer 1, which aims to be the fastest ZK chain) and Manta Pacific (Layer 2 scalable environment for EVM native dapps).
If you are a developer, you can use Manta to build decentralized privacy applications, such as private DeFi transactions, lending protocols, private SBT, NFT protocols, full-chain games, and more.
If you are a user, you can use the cross-chain bridge to bridge homogeneous tokens such as ERC-20 and non-homogeneous tokens such as ERC-721 and 1155 to Manta, changing assets and addresses from public to private, that is, making the information held by assets and addresses private. In addition, you can also implement privacy interactions such as DeFi, NFT, SBT, and games in the native privacy dApp on the Manta chain.
In terms of token economics, MANTA is the native token of Manta, with a total issuance of 1 billion and a deflationary model. Manta has a pre-network Calamari and a main network Manta. Products or codes will be launched on Calamari first, and then on the main network Manta after stable operation. Because the main network of the protocol has not yet been officially launched, the model of Manta tokens may be adjusted after the main network is officially launched.
As for whether the project will have airdrops, it is not certain at present. If you don’t want to miss the airdrop opportunity, you can participate in the interaction of its test network. As shown in the figure below.
The seventh project is RISC Zero
RISC Zero is a “processing protocol” that is part of the ZK infrastructure and can save 90% of gas fees for dapps.
Currently, Risc Zero is still in the development and construction stage. Interested parties can pay close attention to its upcoming roadmap containing detailed information on token economics.
It is also worth mentioning that last month (July 19), the protocol announced the completion of a US$40 million Series A financing round, led by Blockchain Capital, with participation from Galaxy Digital, IOSG, and others.
The 8th project is Futureverse
Futureverse is formed by the merger of 11 startups from different fields. It integrates the services of these companies into a collaborative ecosystem and builds any basic components required for the Metaverse, including EVM, AI, application layer, etc.
Among them, TheRootNetwork is the main infrastructure in the system and is a game-centric EVM blockchain.
The main network token of The Root Network is ROOT, with a total supply of 12 billion, which can be used for protocol governance, PoS network staking, transaction fees, minting fees, FLUF World game tokens and data markets, etc. However, it should be noted that ROOT is not a gas token. Futureverse works with Ripple and XRPL to provide basic block rewards in the form of XRP. XRP will also be used to pay the network's gas fees.
At present, Futureverse has received a total of 54 million US dollars in financing. Their latest round of financing was led by 10T Holdings and participated by Ripple Labs. As for future development, I remember that the previous article of Hualihuawai also mentioned that with the success of Lifeform (an open solution platform for decentralized identity recognition) and the popularity of AA Wallet (account abstraction wallet), Metaverse and gamefi may be the next major narrative and explosion point in the crypto field. Therefore, such projects are worth our exploration and attention.
The 9th project is Cymbal
Cymbal is powered by AI and aims to create a user-friendly block explorer. We can simply think of it as a combination of ChatGPT and Etherscan.
Currently, Cymbal is still in the testing version, and its AI mainly focuses on the analysis of NFT data. It should be expanded to more comprehensive wallet analysis in the future.
The 10th project is Soundxyz
We can simply understand Soundxyz as a Web3 version of Spotify, where musicians can earn income through streaming.
Currently, the protocol has received investments from A16z and other institutions. If SocialFi’s narrative probability explodes one day, such projects will surely become popular.
If you are a music lover, with soundxyz you can connect your crypto wallet, select a song from it and mint it as an NFT.
Well, that’s all for today’s sharing via “Hua Li Hua Wai”. Let’s summarize and review it together. This article is one of the project analysis series, which mainly sorts out and introduces 10 new projects that are worth paying attention to recently, namely Parallax (PLX), Chainflip (FLIP), Adscendo (ADO), Vaultka (VKA), Logarithm, Manta Network (MANTA), RISC Zero, Futureverse, Cymbal, Soundxyz. I hope today’s sharing can be helpful to everyone.
Special thanks to: arndxt_xo, Foxi_xyz, 0xTHades, Senka (cover design)
Disclaimer: The above content is only a personal point of view and analysis, and is only for the purpose of popular science learning and communication among the majority of enthusiasts. It does not constitute any investment advice. Investment is risky, please treat it rationally, improve risk awareness, and abide by the relevant laws and regulations of the country and region where you are located!
