main SingularityNET

SingularityNET Report – 27th Jan’23

SingularityNET is a decentralized marketplace for Artificial intelligence services.

The CMP of $AGIX on 27th January 2023 is $0.1669.

 

What is SingularityNET?

SingularityNET is an open-source, decentralized platform for artificial intelligence (AI) services

SingularityNET was started by Dr. Ben Goertzel, Simone Giacomelli, and Dr. David Hanson to distribute and provide access to Artificial Intelligence to businesses & individuals.

This platform was used to create Sophia, an expressive humanoid robot. Sophia has been granted citizenship in Saudi Arabia and is the world’s first robot to get citizenship in a country.

Users can test, and buy a wide range of AI services available on the SingularityNET 

Marketplace using the AGIX token.

 

How is it Unique?

OpenCog is an AI framework made by SingularityNET that aims to someday attain AGI(Advanced General Intelligence), or artificial intelligence on par with humans.

The publishers can build & publish AI services with the platform, in return, they get paid with AGIX tokens. For example, a publisher can publish Social media Analytics Algorithm which can give data regarding the type of content the followers like or dislike.

SingularityNET introduced a feature in October 2020, which allows AGIX holders to vote on the network’s operations.

 

 

Tokenomics:

The native token of SingularityNET is AGIX. The total supply of AGIX is 2 Billion and approximately 60% of the total maximum Supply(1.2 Billion) is in circulation. It has a market capitalization of $209 Million. 

 

 

 

 

Competition Analysis:

Fetch ai vs SingularityNET:

Fetch ai is a decentralized network that helps the developers of machine learning and AI algorithms a way to sell its services. It provides multi-agent services as well. Apart from algorithms it provides services for other agents like sensors, etc which can be used in hardware units.

SingularityNET is mostly focused on research and in developing AGI(Artificial General Intelligence) and also on its marketplace which provides AI algorithm services.

 

 

Team, Community & Strength:

SingularityNET was founded by Dr. Ben Goertzel, Simone Giacomelli, and Dr. David Hanson.

Dr. Ben Goertzel is a well-known name in the robotics and AI field. He has worked with Mozi Health’s as chief scientist, at Humanity+ as vice chairman, and with Hanson Robotics and the OpenCog Foundation.

Entrepreneur and investor Simone Giacomelli have worked with the cryptocurrency advisory firm Cryptodex.

The third co-founder of SingularityNET is Dr. David Hanson. He worked for Disney from 1998 to 2001 and with several robotics startups, such as Human Emulation Robotics, Initiative for Awakening Machines, and Hanson Robotics.

 

Conclusion:

SingularityNET has helped and shown a way for developers of Artificial Intelligence Algorithms to make money. Earlier only a few big players were able to sell AI services directly to consumers. Today, SingularityNET is trying to distribute AI to all consumers by starting a marketplace where any publisher can publish a valuable AI service and even monetize it. It has partnered with Hanson Robotics to create AI products for the healthcare sector.

Pros:

1) SingularityNET is working on some interesting projects which are at least a decade ahead of its competitors like AGI.

2) SingularityNET is proving that even AI services can be sold and a developer can monetize them.

Cons:

1) The competitors of SingularityNET provide more services in the AI sector.

2) The platform has low adoption.


 

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Lido

Lido Report – 13th Jan’23

The CMP of LDO on 13th Jan’23 is $1.95

What is Lido?

Lido is a decentralized finance (DeFi) protocol built on the Ethereum blockchain, focused on providing liquidity to staked assets on the Ethereum network. It aims to make it easy for users to earn interest on their staked assets by providing liquidity to other users who want to trade those assets. Lido uses a unique liquidity provision mechanism called “Farmed Liquidity” that allows users to stake their assets and earn a return while also providing liquidity to the market. This allows Lido to offer higher returns to liquidity providers compared to other DeFi protocols. Additionally, Lido also offers a yield farming platform, where users can farm LDO tokens by providing liquidity to the pools.

 

How is it Unique?

Lido is unique in several ways:-

  1. Farmed Liquidity: Lido uses a unique liquidity provision mechanism called “Farmed Liquidity” that allows users to stake their assets and earn a return while also providing liquidity to the market. This allows Lido to offer higher returns to liquidity providers compared to other DeFi protocols.
  2. Staked assets: Lido focuses on providing liquidity to staked assets on the Ethereum network. This allows users to earn interest on their staked assets without having to move them out of the staking contract.
  3. Yield farming: Lido also offers a yield farming platform, where users can farm LDO tokens by providing liquidity to the pools. This allows users to earn additional returns on top of their staked assets.
  4. Decentralized: Lido is a decentralized finance (DeFi) protocol built on the Ethereum blockchain, which means that it is open-source, transparent, and trustless.
  5. Low slippage: Lido uses a unique price oracle mechanism that reduces slippage and ensures that users can trade at fair prices.
  6. LDO token: Lido has its own token LDO which is used for various purposes like governance, liquidity provision rewards, and more.

 

Tokenomics:

The native token of the Lido Finance is LDO which is an ERC-20 token. The total supply of LDO is 1 billion & it has a circulating supply of 832.6 Million. 

The distribution of LDO tokens is determined by the protocol’s liquidity provision mechanism. Users who provide liquidity to Lido pools earn LDO as a reward, in addition to the returns on their staked assets. This means that the more liquidity that is added to the pools, the more LDO tokens are distributed.

The LDO tokens are also distributed through yield farming, where users can farm LDO tokens by providing liquidity to the pools. This allows them to earn additional returns on top of their staked assets.

 

Competition Analysis:

There are several DeFi protocols and platforms that could be considered competitors to Lido, as they all aim to provide liquidity to staked assets on the Ethereum network. Some examples include:

  1. Aave: A decentralized lending and borrowing platform that allows users to earn interest on their staked assets.
  2. Compound: A decentralized lending and borrowing platform that allows users to earn interest on their staked assets.
  3. Yearn Finance: A decentralized finance platform that allows users to earn interest on their staked assets, as well as participate in yield farming.
  4. Uniswap: A decentralized exchange that allows users to provide liquidity to trading pairs and earn a return on their staked assets.
  5. Balancer: A decentralized exchange that allows users to provide liquidity to trading pools and earn a return on their staked assets.

All these protocols and platforms have different approaches to liquidity provision and offer different types of returns to liquidity providers, but they all compete with Lido in the market of providing liquidity to staked assets on the Ethereum network.

 

Team and Community:

lido finance was founded in october 2020 by constantine lamarchuk, vasily shapovalov and jordan fish. 

Constantine holds a doctorate degree in finance and has worked in crypto since 2015 most notably as the founder of p2p validator a company that runs validator nodes on various proof-of-stake blockchains

Vasily shapovalov holds a bachelor’s degree in mathematics and spent nearly a decade working as a software engineer before switching to crypto in 2019. In 2020 vaseline became the chief technology officer of p2p validator and one of his first tasks was to build a third-party staking solution for ethereum’s upcoming beacon chain, this third-party staking solution eventually became lido finance and vasily continues to serve as the project’s technical lead now 

while the name jordan fish might not sound all that familiar if you’re into crypto and active on twitter you probably follow him without even knowing that’s because jordan is Cobie formerly crypto cobain a popular crypto influencer podcaster and writer with close on 700 000 twitter followers and

They have 118k followers on twitter which is a good number of followers as a community

 

Conclusion:

It aims to make it easy for users to earn interest on their staked assets by providing liquidity to other users who want to trade those assets. Lido uses a unique liquidity provision mechanism called “Farmed Liquidity” that allows users to stake their assets and earn a return while also providing liquidity to the market. This allows Lido to offer higher returns to liquidity providers compared to other DeFi protocols. Additionally, Lido also offers a yield farming platform, where users can farm LDO tokens by providing liquidity to the pools.

Pros – Staking liquid proof of stake based tokens without locking them

Cons – The project is being developed continuously and has encountered bugs in past which could have led to a hack, though it was fixed on time without any damage

The protocol is not completely trustless, the withdrawal takes place through multisig wallet

 

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Screenshot 2023-01-06 at 8.13.53 PM

BONK RESEARCH REPORT

Memecoins have been a part of the crypto culture for almost as long as the community existed, but 2020 and 2021 saw them roar to a whole new level.

It got to a point where two memecoins – DOGE & SHIB became frequent members of the top-10 club by total market capitalization

The bear market of 2022 has impacted most memecoins severely, but DOGE and SHIB continue to be leading coins.

That said, there’s a new kid on the block – one built on Solana – and is going the miles. The cryptocurrency in question is called Bonk Inu (BONK), so let’s have a closer look at what it actually does.

What is BONK?

According to its official one pager, BONK is the very first Dog-themed memecoin on Solana that’s “for the people, by the people.”

50% of the total supply of the cryptocurrency was airdropped to the Solana community, while the main purpose of the team behind it is to bring back liquidity to decentralised exchanges built on Solana.

In fact, that’s pretty much everything the document outlines, alongside the token distribution.

According to the Bonk website, and similar to Dogecoin and other Inu tokens, the project is “for the people, by the people,” with five trillion tokens of the 99 trillion supply airdropped to wallets that participated in the top 40 Solana NFT projects, early open-book traders, Solana artists, collectors and devs.

DOGE vs BONK

Dogecoin is used in tipping and charitable donations on social media platforms. On the other hand BONK is focused on SOLANA ecosystem and will be used to incentivise the developers & Traders who form the social layer of the community 

Tokenomics:

As mentioned above, 50% of the supply was airdropped to the Solana community, divided as it follows:

  • 20% of it went to Solana NFT collections (297K individual NFTs)
  • 15% to early OpenBook traders
  • 10% to Solana collectors and artists
  • 5% to Solana developers

The total supply is set to 100 trillion BONK tokens. 

Team

The team, as with many memecoin projects, has remained anonymous. The website itself doesn’t contain other information but the one-pager and the rest of the links to BONK-related resources.

Pros – 

Its focused on the Solana community and not VCs

Cons –The survival of the token is completely dependent on the Solana’s growth and adoption

MintingM Ratings

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bora

Bora Report – 30th Dec’22



Bora is a decentralized application platform.

 

The CMP of BORA on 30th Dec’22 is $0.1089. 

 

What is Bora?

Bora is a decentralized ecosystem for games and entertainment.

 

To avoid developing applications on blockchains like Ethereum, which has expensive gas fees, Bora wants to attract games and applications from the GameFi sector to its Bora Chain.

 

Its native token is BORA. Bora is built on the Klaytn blockchain, which focuses on metaverse and gaming use cases. 

 

Decentralized apps can leverage the modular blockchain known as the Bora chain as an execution layer.

 

For the development of decentralized apps for its ecosystem, the Bora team offers development toolkits. 

 

Additionally, it makes use of Bora Points, the ecosystem’s currency, as a resource for the growth and as a way to reward contributions to Bora. Bora Points can subsequently be converted to the BORA token.

 

How is it Unique?

There are 3 layers of the Bora blockchain.

They are the application layer, the service layer, and the core layer.

 

The infrastructure and data network of the ecosystem is supported by the core layer, which is the blockchain’s base layer. The settlement of the Bora points is supported by the core layer as well.

 

The APIs and software development kits that interface with the material and programs created for Bora are kept in the service layer. On the service layer, the Bora chain enables the tracking of all BORA tokens.

 

The application layer, which users interact with, is the bottom layer. Both the asset management platform Bora app and all of the material for the Bora ecosystem are hosted here. Along with access to free content applications, the app offers token exchange features.

 

Tokenomics:

The native token of the Bora network is BORA. The total supply of BORA is 1.2 billion & it has a circulating supply of 927 Million.

BORA is an inflationary token. It has an annual inflation of around 1.76%. Bora has a market capitalization of $107 million.

 

 

Competition Analysis:

Bora vs Ethereum:

Ethereum works on the Proof of Stake consensus mechanism(Post-Merge and earlier, it was working on the Proof of Work mechanism). It has a transaction speed of 12 TPS.

Bora works on the Proof of Stake consensus mechanism. Due to Low gas fees and high transaction speed. Bora is trying to attract dApps to its ecosystem. It has a transaction speed of 2,200 TPS.

 

Team, Media, and Community:

A team of blockchain and mobile development experts from Korea created Bora. Gyehan Song, the CEO, has over 20 years of expertise as a game developer and has worked for Samsung Electronics. 

 

Key Yune, the company’s CSO, has 20 years of experience creating online games for both desktop and mobile devices.

 

More than 30 businesses in the blockchain and gaming industries have partnered with the team, including ENP Games, UNIT5, Supertree, Neon Games, Emong, etc.

 

Conclusion:

Bora is interesting because of its simple API and web interface navigation and complete ecosystem connectivity. Bora is working to launch an eSports NFT platform in the 1st quarter of 2023. Currently Bora is trying to launch a lot of new products. 

 

Pros:

1) Bora has a transaction speed of 2,200 TPS. 

2) It has built good partnerships.

 

Cons:

1) Bora faces high competition from other dApp blockchains like Cardano, Solana, etc.

2) Bora has not been able to attract big gaming companies to its network.

 

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Loopring

Loopring Report – 23rd Dec’22

Loopring is an open protocol designed for the building of decentralized crypto exchanges.

The CMP of LRC on 23rd December 2022 is $0.202.

The Problem Statement:

The majority of crypto trading takes place on centralized exchanges, which are commercial platforms run by private businesses and used to hold user funds and match buy and sell orders.

There’s a risk of Fraud as the funds are in the Custody of the Exchange. 

But even decentralized exchanges can have flaws as some decentralized exchanges might lack liquidity. So to solve the problem between centralized and decentralized exchanges, someone is working on it. Let’s understand it.

What is Loopring?

Loopring aims to create a hybrid product that combines the greatest features of both centralized and decentralized exchanges by combining centralized order matching with decentralized on-blockchain order settlement.

Loopring is a layer-2 protocol that is built upon the Ethereum blockchain and was launched in 2019. 

The main idea of Loopring is to combine the features of both Centralized and decentralized exchanges and overcome their inefficiencies.

How is it Unique?

Loopring also provides payments. Users can send ETH and ERC20 tokens to any Ethereum address using the same innovative systems. 

The challenge with centralized exchanges is the ability of the exchange to manipulate prices.

They can use users’ funds while in custody as the trades are not settled on the blockchain but rather stored in the exchange’s internal records.

To solve these issues, a new type of exchange is made where DEX helps users buy and sell orders directly with each other.

Also, they settle trades on a blockchain which removes the custodial and transparency risks associated with keeping funds in custody, and centralized exchanges are more efficient and have liquidity.

 

Tokenomics:

The native token of the Loopring is LRC. The total supply of LRC is 1.37 Billion & ~97% of the total maximum Supply(1.33 Billion) is in circulation. It has a market capitalization of $275 Million. The current Coinmarketcap ranking of the Loopring is #93.

 

 

 

 

 

Competition Analysis:

Loopring vs Optimism:

Loopring and Optimism both are Layer-2 blockchain solutions. The entire value of all assets locked inside DeFi protocols is measured by TVL. Every coin deposited in any of the DeFi protocols’ lending, staking, or liquidity pools is included in TVL.

The DeFi ecosystem’s health can be evaluated using TVL. The higher the TVL, the more faith individuals have in DeFi, as it demonstrates how much value they are willing to lock up in DeFi contracts.

The TVL of Optimism is $1.14 billion and the TVL of Loopring is $82.54 million.

 

 

Team, Media, and Community:

Software engineer and businessman Daniel Wang, based in Shanghai, China, is the founder of the Loopring Foundation. Currently. Steve Guo is the CEO of Loopring Foundation.

Wang holds both a master’s degree in computer science from Arizona State University and a bachelor’s degree in computer science from the University of Science and Technology of China.

He was the lead software engineer at the medical device manufacturer Boston Scientific, and the senior director of engineering of search, recommendation, and ads system at the Chinese e-commerce giant JD.com, as well as a tech lead and senior software engineer at Google, these are just a few of the managerial and executive positions Wang has held before beginning work on Loopring.

Conclusion:

Loopring seeks to make trading assets and making payments on Ethereum faster and cheaper, without sacrificing security. It has been trying to bridge the gap and solve issues both centralized and decentralized exchanges have been facing. With intentions to add support for the Qtum blockchain, Loopring is now operational on the Neo and Ethereum blockchains.

Pros:

1) Combining the best features of both centralized and DEX.

2) It has Low gas fees compared to Ethereum.

Cons:

1) Low adoption.

2) Loopring faces strong competition from other players like Kyber Network and many more.

 

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