Delphi CEO lists his 20 favorite projects for 2024
➠He believes these projects are working hard to create useful products
Some of them have already landed on the secondary market. Below are my personal understandings of these 20 projects. I hope it will be helpful to you.
1.HyperLiquid
This should be considered familiar to everyone now. In the eyes of many people, it seems that it took only three months for it to go from being ignored to being popular.
Actually
It started quietly building an on-chain derivatives infrastructure as early as 22 years ago.
At present, its circulating market value has reached nearly 8 billion, and FDV has directly caught up with 20 billion.
It can be called the most unique and amazing DeFi target in 2024
It is not like Ethna, which launched BN at the beginning, nor is it like Layerzero and other big protocols, which are so popular and attract a lot of attention before TGE.
HyperLiquid has already built a passionate community that many VC-backed projects don’t have: more than 200,000 users, with a cumulative transaction volume of nearly $450 billion
2.Polymarket
Polymarket has appeared in my tweets more than once. Whether it is the secondary market or the users on the chain, they may have known about it in the last two months of the US election. It has gradually entered the public eye of the industry.
Polymarket processed $3.6 billion in election-related bets. It has to be said that the narrative of the US election made it
Based on this logic, we can even infer that there are still many plans to launch [prediction market] protocols, which I am not optimistic about subjectively.
Polymarket was rated as the "Annual Out-of-Circle Application" and "The Backbone of the Ethereum Ecosystem" in my annual summary over the past few days.
At the same time, it also has certain expectations for issuing coins in the first half of this year, and is a very noteworthy S-level project.
3.Farcaster
This is a social unicorn that has reached a billion in the primary market valuation
It allows users to publish and manage content on a decentralized network. It also serves as an infrastructure that will develop an ecosystem around Farcaster.
Other ecosystems will be able to use the Farcaster social graph to create other social network applications
At present, the community group that continues to build its ecology has reached a certain scale. I am personally optimistic about Web3+ social applications, but I have not had time to explore the Farcaster ecology (I have received community invitations, but have been dragging my feet. I must start this month! The first flag of this year)
4.Ethena
In the above, I put it as an example to compare with HyperLiquid
Its business model is very simple in logic, that is, to issue stablecoins through hedging, and the protocol earns funding rates.
But surprisingly, it has achieved very impressive growth this year. Even under the basic situation that the new coins generally perform poorly, the last quarter of 2024 has seen a sharp rise in the market.
Especially recently, it has cooperated with BlackRock to issue stablecoins. It is powerful and needs no further explanation.
In this cycle, whoever is closer to the ETF issuer is the son of the version
5.Gunzilla
This is a 3A game studio, which launched a 3A game Off The Grid, which also made a splash in the market.
As a cyberpunk-themed battle royale game, it has attracted more than 12 million wallets and 230 million transactions
But I am not that interested in the game track.
6. Lighthouse One
This is a portfolio tracking tool. According to Anil, he really likes this tool and it helps his work efficiency.
But this is the first time I have come into contact with it~ I have no opinion and don’t understand
7.Pump Fun
In my annual project summary a few days ago, it was named "Web3 Native Application of the Year"
With the continued promotion of Meme this year, the protocol's daily revenue averages several million, and its annual revenue exceeds 1 billion US dollars, making it the highest-earning protocol in crypto in 2024.
Even its team size is not large, so the per capita income ratio is even more terrifying and powerful, needless to say
8.Truth Terminal 和$GOAT
This should be regarded as the originator of the rise of AI agent track. You may not understand AI agent, but I think you need to know GOAT
For example, I have brought the AI agent track into the development stage of inscriptions many times.
So
GOAT is the equivalent of the inscription track $ORDI
9.VIRTUAL’s Ecosystem
This is a protocol that truly promotes the AI agent track to the public's attention. Currently, there are more than 12,000 AI agents running in its ecosystem.
Understand the development of AI agent track. At present and in the future, it is inevitable to understand it.
10. MetaDAO and MetaLeX
MetaDAO is a project in the Solana ecosystem that focuses on DAO governance. It is relatively unpopular and this is the first time I noticed it.
From Anil's description, it looks like a "generalized BIO" without DeSCI attributes.
11.Sandwich
This is a trading service software mainly for traders. I don't know much about it.
12.9dcc
This is also the first time I heard of this project. I opened it and read the description. It is positioned as an on-chain lifestyle platform and clothing brand.
I don't understand, I won't comment much
13.deBridge
Let me be frank. Without deBridge, there would be no such article.
deBridge is a Solana ecosystem cross-chain bridge project that I have been following for a long time. It is also a bridge for processing intentions.
Currently, deBridge has settled more than 4 million intentions with a transaction volume of more than $6 billion.
In addition to high activity, the series of visualization charts displayed on deBridge’s official website are almost the best I have seen in the cryptocurrency circle.
14.Echo & Legion
Both are platforms that help promote fundraising. Legion has also been used as a case study in our company.
It is generally believed that Legion will become a major player in this small segment in the future
This is a relatively unpopular project. You can think of it as a new startup version. It adds a scoring mechanism and ranks based on three dimensions: (1) on-chain activities, (2) social influence, and (3) development experience.
You can experience it
15.Kaito
A new scoring tool that is not good for Chinese creators and has airdrop expectations
16.Grass
This is one of the few projects with a large airdrop this year, and many people are selling their
A very simple plugin with a large user base. I thought it would log in to BN when it was launched, but surprisingly, it didn't.
17. The door
This is an on-chain derivatives protocol for synthetic assets. The protocol supports a wide range of asset classes, including long or short perpetual contracts for foreign exchange, commodities, cryptocurrencies, and stock indices.
This is the first time I have heard of it. It is said that its trading volume has reached 160 million US dollars.
18.Moonwalk Fitness
This is a fitness motivation app. I think my friends in the community will need it because I set up a Web3 fitness group, but few people continued to exercise.
The logic of this application is also very simple, that is, pool betting, which operates by setting goals + betting assets. The winner takes back the assets and divides up the unfinished part of the prize pool.
The above is a basic introduction to these twenty applications and some of my opinions. Some of them are ones I have never come across before, so I have not expanded on them in detail.
Some of them are unpopular, but I have actually come into contact with them, and the products themselves are also decent, so I would recommend that everyone pay attention to them.
The 20 projects listed here are all applications with relatively online product strength.
Stay tuned for continued output!