It's not an exaggeration when people say 99% of crypto projects will die.
Not many survive a cycle & come out stronger.
Here are a few protocols I think are in a great position 🧵
Not many survive a cycle & come out stronger.
Here are a few protocols I think are in a great position 🧵
We are deep into the bear market now and have seen many individuals, funds and projects decimated.
But, some are actually in a stronger position than they were a few years ago.
But, some are actually in a stronger position than they were a few years ago.
I'm just going to highlight a few that are emerging from the last cycle as winners and have a great chance of thriving long into the future.
This isn't an exhaustive list & not a comment on the tokenomics.
I'm going to keep the analysis short & sweet because it's nearly Christmas and muh attention span.
I'm going to keep the analysis short & sweet because it's nearly Christmas and muh attention span.
1. Ethereum
• PoS delivered
• Improved economic model & reduction of miner sell pressure (EIP-1559) - 🦇🔊
• Less inflationary than BTC
• Rollup thesis intact (metrics up and to the right)
• Proto-Danksharding will provide 100x scale next year
• EVM network effects strong
• PoS delivered
• Improved economic model & reduction of miner sell pressure (EIP-1559) - 🦇🔊
• Less inflationary than BTC
• Rollup thesis intact (metrics up and to the right)
• Proto-Danksharding will provide 100x scale next year
• EVM network effects strong
2. Polygon
• Major real world brands choosing Polygon to deploy
• Second highest daily transactions (all chains)
• 5.7M DEX traders
• Suite of scaling solutions positions Polygon to be major L2 player (ORUS, ZK & zkEVM)
• zkEVM solution much closer than previously predicted
• Major real world brands choosing Polygon to deploy
• Second highest daily transactions (all chains)
• 5.7M DEX traders
• Suite of scaling solutions positions Polygon to be major L2 player (ORUS, ZK & zkEVM)
• zkEVM solution much closer than previously predicted
3. Arbitrum
• Arbitrum TVL fourth biggest (all chains)
• Daily transactions & unique addresses near ATH
• Active Developer growth 500%+ YTD
• Most DeFi innovation occurring on Arbitrum
• Abitrum Nova powering Reddit
• Vibrant community established
• Arbitrum TVL fourth biggest (all chains)
• Daily transactions & unique addresses near ATH
• Active Developer growth 500%+ YTD
• Most DeFi innovation occurring on Arbitrum
• Abitrum Nova powering Reddit
• Vibrant community established
4. StarkNet
• StarkNet Alpha is Live on Mainnet
• 98,000 users whilst in alpha
• STARK software stack (sequencer, prover, verifier) powers dYdX, Sorare & Immutable
• Visa experimenting with StarkNet
•$100M Series D at an $8B valuation (May 22)
• StarkNet Alpha is Live on Mainnet
• 98,000 users whilst in alpha
• STARK software stack (sequencer, prover, verifier) powers dYdX, Sorare & Immutable
• Visa experimenting with StarkNet
•$100M Series D at an $8B valuation (May 22)
5. Chainlink
• 1500+ integrations
• PFM established
• $6T in total value enabled through network
• Multiple DONs economically sustainable
• Years of runway & still hiring
• Monopoly in the space
• Staking v0.1 live
• CCIP will compete for cross chain market next year
• 1500+ integrations
• PFM established
• $6T in total value enabled through network
• Multiple DONs economically sustainable
• Years of runway & still hiring
• Monopoly in the space
• Staking v0.1 live
• CCIP will compete for cross chain market next year
6. Uniswap
• Dominant DEX
• 67% marketshare (DEX by volume)
• One of the highest earning protocols
• $230M in fees generated
• Expansion to NFTs
• $165 series B raise in October
• Dominant DEX
• 67% marketshare (DEX by volume)
• One of the highest earning protocols
• $230M in fees generated
• Expansion to NFTs
• $165 series B raise in October
7. AAVE
• Premier borrowing/lending protocol
• Survived cycle with no major exploit
• Lens adoption growing
• GHO launch soon & will increase revenue
• UK FCA license (allows AAVE to handle fiat currency directly, without having to go through other intermediaries)
• Premier borrowing/lending protocol
• Survived cycle with no major exploit
• Lens adoption growing
• GHO launch soon & will increase revenue
• UK FCA license (allows AAVE to handle fiat currency directly, without having to go through other intermediaries)
8. Lido
• Premier liquid staking protocol
• $6B in staked assets
• 240,000 stakers
• 66% marketshare (ETH liquid staking)
• Live across 5 networks
• $45M revenue since launch
• Premier liquid staking protocol
• $6B in staked assets
• 240,000 stakers
• 66% marketshare (ETH liquid staking)
• Live across 5 networks
• $45M revenue since launch
9. Curve
• Dominant stableswap DEX
• Close to 50% marketshare of stable trading volume
• $100M fees generated
• CRV stablecoin close to launch
• Dominant stableswap DEX
• Close to 50% marketshare of stable trading volume
• $100M fees generated
• CRV stablecoin close to launch
10. GMX
• Dominant on-chain perpetual trading platform
• $73B trading volume to date
• $100M in fees
• 170,000 users
• Synthetic markets soon
• Organic community NFT project organised around the protocol (Blueberry Club)
• Dominant on-chain perpetual trading platform
• $73B trading volume to date
• $100M in fees
• 170,000 users
• Synthetic markets soon
• Organic community NFT project organised around the protocol (Blueberry Club)
Too lazy to write more in detail.
Other notable chains/apps:
• Solana (#2 chain by NFT sales volume)
• BNB (Binance growth has been incredible)
• ATOM (app-chain thesis stronger)
• Rocket Pool
• Frax (See frxETH growth)
• Optimism (metrics up & to the right in bear)
Other notable chains/apps:
• Solana (#2 chain by NFT sales volume)
• BNB (Binance growth has been incredible)
• ATOM (app-chain thesis stronger)
• Rocket Pool
• Frax (See frxETH growth)
• Optimism (metrics up & to the right in bear)
• SNX (Perpetual futures v2)
• GNS (on-chain forex trading leader)
• dYdX (leading orderbook DEX)
• Hop Protocol (dominant rollup-to-rollup bridge)
• Layer Zero
• Illuvium (See Overworld beta)
• Treasure (ATH in weekly active users during bear)
• Dopex
• GNS (on-chain forex trading leader)
• dYdX (leading orderbook DEX)
• Hop Protocol (dominant rollup-to-rollup bridge)
• Layer Zero
• Illuvium (See Overworld beta)
• Treasure (ATH in weekly active users during bear)
• Dopex
I'm sure I've missed protocols that are doing well, so feel free to drop them below.
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