📍Project Rating: DeFiChain丨C $DFI

DeFiChain saves its latest Merkle tree to the Bitcoin blockchain every few minutes, somewhat similar to $RSK.

If we were to define it, it is a sidechain of the Bitcoin ecosystem, with its own consensus mechanism, adopting POS consensus.

The main strategic direction is also to build the DeFi ecosystem around $BTC , nothing else.

The functionality is a bit simple, and the niche is very segmented, which I actually think is a good idea. The market is saturated with L1s that want to do everything but fail at doing anything well.

The secondary trend is a bit weak, that's it. I won't elaborate. When the BTC ecosystem wind blows, I can discuss it in more detail.

About the ratings 🔻

S: Must pay attention, but in principle, it is very difficult for projects with this rating to appear.

A: Worth including in the observation pool.

B: Generally represents a level of relatively active projects, with the opportunity to enter the observation pool.

C: A relatively ordinary target.

D: Not worth paying attention to.

Note: The content of this series will not involve any commercial components.