Supernova Digest #1
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What is up, guys, Grabber’s team here. Hope you’re holding tight during this crypto winter, cause we’re coming up with some heat!
Lately, we’ve been shuffling through a lot (we mean A LOT) of projects, startups and networks. And we thought, why don’t we share some of our lucky finds with you, guys! These are the projects that in our opinion have quite a bit of potential down the road.
This is Grabber’s Supernova Digest, where we tell you about promising and buzzing blockchain projects from all around the block.
Our metrics:
- Utility these projects bring to the table. whether it is a promising DeFi service, a new opportunity for developers, or even just a fun experience, as it goes for some of the NFT games.
- Volume of their on-chain activity. It is usually a great telltale indicator of the livelihood of crypto communities.
- Current run. Experience is a prime metric as well. How the projects have been getting through their challenges in the past can tell you what you’re in for in the future.
All of the projects included in this digest had just enough time to gain at least some meat on their bones. They’re not too unknown or niche, but not in the mainstream either (at least not yet).
Disclaimer: All of the following information is purely an opinion of Grabber’s editorial and should not be taken as financial advice. Although we do our best to avoid degen, overhyped and rugpull-type projects, nobody is immune to failure or even fraud. We encourage you to always do your own thorough research before making any decision regarding your hard-earned money!
So, let’s roll now:
Aptos. Layer-1 PoS blockchain
The story of Aptos actually starts with a big stumble in the current great migration of Web 2.0 to Web 3.0. In particular, a stumble of one the undeniably biggest heavyweights of the current Web 2.0 era – Meta, previously known as Facebook. Meta’s failure to launch its blockchain-based stablecoin project Diem has led several of its employees to leave and develop their own Layer 1 blockchains. The first of these to burst into existence is Aptos. Aptos started its rumble in the crypto world in March and had been able to raise $200 million in a seed round led by the renowned venture capital firm Andreessen Horowitz. In July, the startup raised another $150 million at a $1.9 billion pre-money valuation in a Series A funding round led by FTX Ventures and Jump Crypto, before its valuation hit $4 billion two months later in a venture raise led by Binance Labs.
Utility
Aptos uses a novel smart contract programming language called Move. Due to its stated theoretical throughput of 100,000 transactions per second, Aptos has been dubbed a potential <Solana killer>.
Aptos declares itself as the blockchain with potential to replicate the cloud infrastructure powering Web2 but in a decentralized Web3 manner.
Aptos’ high degree of scalability and throughput is supported by parallel transaction processing.
The modular design of Aptos allows for easy, instant upgrades, which will allow developers to quickly deploy new Web3 technologies as they roll out.
Community
In terms of user activity, Aptos is holding pretty tight, too. Despite some hitches with distribution of airdrops, early adopters of Aptos, especially among dApp developers, are projecting an overall positive and enthusiastic vibe about the projects’ launch, going as far as calling it <the future of Web3>.
Along with support from DEXs and wallets (Aptos already got picked out by PancakeSwap and Fox Wallet), Aptos has seen an influx of NFT creators launching projects on the chain within the first day.
Current run
Launch of Aptos was arguably one of the most exciting events in crypto in 2022. The project has managed to garnish a big deal of attention, both due to its heritage and history, and due to the generosity of its marketing campaign. The day APT token went live, their price went through a rough drop but managed to regain momentum afterwards. The eventual price flop after the initial pump had some of the skeptics and critics believing that the project had gone into a nosedive, but after the market was back into its senses, the picture changed. Aptos is yet to finish its stress-test both on the market and on the technical side in terms of its throughput and speed, but it’s definitely a project to look out for in the long run!
Rating: 4 out of 5 stars.
Here’s a quick overview of the current ecosystem of Aptos. Credit: TokenPocket
Optimism. Layer-2 solution for Ethereum
Utility
Optimism is a scaling solution for the good old bulky and clumsy Ethereum which is not putting out nearly enough throughput on its own. Optimism does it by processing some of Ethereum’s transactions on its own blockchain, and then posting them in batches to Ethereum. This allows for faster transaction speed and lower fees, because the congustered mainline Ethereum is avoided. And Optimism doesn’t have to compromise on the security of Ethereum as well, because as a Layer-2 it inherits security of their underlying Layer-1s.
Volume of on-chain activity
On-chain activity on Optimism has been showing consistent rally over the time the project has been up with current on-chain activity averaging around 8500 active users in 24h, according to on-chain data. That’s some rare upwards stability in these trying times of crypto-winter.
Current run
Optimism didn’t really have any hiccups in its run, except for some experts claiming the OP token is undervalued. And let’s be frank, that’s not too bad of a hiccup considering the market’s flexibility. What’s undervalued today might be valued accordingly the next day.
Optimism has a strong team behind it. The team of developers behind Optimism has formed from the famed Plasma group – the crew, famously chosen to fix Ethereum’s scaling issues in 2018. Their strategy towards obtaining the solution was firstly formed under Plasma and eventually matured into Optimism. Their work allowed Optimism to achieve the position of the biggest Layer-2 scaling solution on Ethereum as of today.
Optimism also hosts some killer projects, including Synthetix. It’s a decentralized platform on Ethereum for the creation of Synths: on-chain synthetic assets that track the value of real-world assets.
Rating: 5 out of 5 stars.
SUI. Layer-1 PoS Blockchain
Sui is a permissionless, PoS-powered Layer 1 blockchain that has been designed in an attempt to provide instant settlement and high throughput as well as empower a multitude of next-gen latency-sensitive decentralized applications.
Utility
Not so distant cousin to Aptos, which we’ve gone through earlier, Sui too is being developed by ex-Libra/Diem team – Mysten Labs. So it’s no surprise that Sui also shares a programming language with Aptos called Move.
The key to Sui performance is transaction Parallelization. Unlike most blockchains, where transactions have to be ordered and placed in blocks for sequential execution, Sui is able to process them in conjunction with each other. In cases where a few transactions are intertwined, Sui can still sort them and execute them sequentially. This helps Sui improve the network performance and reduce the validation time of transactions.
Sui suggests they will enable software engineers to produce dapps and other Web3 projects with enhanced user experiences by providing various tools based on the Sui SDK (software development kit). As such, the platform will, for example, facilitate the development of the following features:
- On-chain finance and DeFi (decentralized finance) primitives
- Advanced games and business logic
- Reward and loyalty programs
- Asset tokenization services
- Upgradable NFTs
Volume of on-chain activity
The level of activity on Sui’s testnet can currently be observed with Sui Explorer. Sui does not yet have big-time listings, but its development is continuing steadily with plans to conduct full-on mainnet launch soon.
Current run:
Sui is still pretty early in its blockchain life-cycle and is definitely yet to unveil its potential. Moreover, Sui’s recent announcement of a successful $300 million Series B funding round indicates that the blockchain platform is not here temporarily. At this stage, Sui remains a very promising project and asset, definitely worth your attention.
Rating: 4 out o 5 stars
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