Today we continue to look at projects in the 200-300 range. There are already many monsters in this range. Today we continue to share 3 projects, which are also quick to browse. If you encounter a good project, you can explain it in detail. Introduction Aerodrome Finance is a new generation of automatic market maker (AMM), which is currently the largest DEFI project in Base. You can understand it as the uniswap of the base ecosystem. The current TVL has reached 670 million US dollars and the current market value is 450 million US dollars. Aerodrome was launched on the BASE network on August 28, 2023. It is also a standard project that came out of the bear market.
But its governance method is somewhat similar to Curve, where participants can lock their $AERO to be able to vote on the issuance allocation of the next cycle and become veAERO voters.
veAERO voters receive rewards for their votes in proportion to the amount locked, including all protocol transaction fees from the previous cycle and any additional voting incentives from the current cycle.
Token Economy
Aerodrome Finance uses two tokens to manage its functions and governance:
- $AERO — the protocol’s ERC-20 utility token
- $veAERO — ERC-721 governance token in the form of NFT (Non-Fungible Token)
$AERO is distributed to liquidity providers through issuance.
$veAERO is used for governance. Any $AERO holder can lock their tokens and receive $veAERO (also known as a Lock or veNFT) in exchange. Additional tokens can be added to the $veAERO NFT at any time.
The lock-up period (also called the voting lock-up period, hence the ve prefix) can be up to 4 years and is as follows:
- Locking 100 $AERO for 4 years will turn into 100 $veAERO
- Locking 100 $AERO for 1 year will turn into 25 $veAERO
The longer the lock-up period, the higher the voting rights (voting weight) of the base locked balance.
Additionally, Aerodrome locks (veNFTs) can be set to Auto-Max Lock, where the protocol treats them as locked for a maximum of 4 years with no decay of voting power. Each lock (veNFT) can have the Auto-Max Lock feature enabled or disabled.
The total amount of tokens is 1,046,788,553, and the current circulation is 454,694,196, with a circulation rate of 43%. The current exchange rate is 1 US dollar, and the peak price was 2.3 US dollars (March 24). The token distribution is 40% airdropped to pledgers, 21% to the ecosystem, 14% to the team, 10% to rewards, 5% to pool rewards, 8% to voting incentives, and 2% to liquidity pools. So it can be seen that airdrops still account for a large proportion.
But to sum up, this product is far inferior to uni in terms of usage. It is just the leader of the base ecosystem, and its TVL is gradually increasing. It should have received a lot of support from base. It has also increased 20 times. If TVL continues to increase, then this wave is still likely to surge.
The second project IPVERSE
As the name suggests, it is an IP-related project. It builds an IP blockchain network by utilizing IP in various fields and provides IP services in various fields to all users.
IPVERSE's services are as follows:
- Provide services for valuation and transaction of intangible assets.
- Leveraging digital IP platforms to provide seamless transaction solutions.
- Build an innovative IP service ecosystem combined with blockchain.
- Use IP to provide various blockchain IP services.
- Establish a common monetary base by activating global integrated IP services.
IPVERSE will use current blockchain technology to establish new intellectual property services with various enterprises, simplify the way to obtain IP, establish blockchain services to solve the opacity of the intellectual property service industry, and protect legitimate rights and interests through continuous research and development, providing a simpler and easier environment for the use of various physical assets.
The IPVERSE ecosystem means "it contains IPs from all fields". IPVERSE is developing a blockchain-based IP comprehensive RWA (real world asset) service, aiming to "create a world where everyone can easily trade IPs in various fields such as art, culture, technology, and be able to provide various other blockchain-based IP services". As the core technology of IPVERSE's goal, the core technology is based on blockchain technology and RWA tokenization, which is the basic problem of IP services regarding fees and participation methods that have been experienced so far. Improvements and solutions will be provided through IPVERSE, and blockchain technology and asset construction services will be combined in an innovative way to solve the problems of various IPs in the real world (such as music, art, and games).
IPVERSE's various blockchain IP services consist of a public blockchain network based on Ethereum. On the IPVERSE blockchain, content is recorded and verified according to the protocol of the nodes, and once successfully recorded, it is impossible to forge or tamper with the content. The core function of IPVERSE is the ability to record the hash value of IP data in IPVERSE and experience various IP services through it. This can be smoothly utilized based on its own cryptocurrency (IPV token), which is the economic foundation of the IPVERSE ecosystem.
Token Economy
The total number of tokens is 3,000,000,000, of which 150,001,000 are currently in circulation, with a circulation rate of 5%. The current exchange rate is 2.9 US dollars, and the peak was 13 US dollars. Although the current market value is 450 million US dollars, the overall FDV has reached 9 billion US dollars, which is not a small size. In terms of token distribution, we can see that the ecosystem has 42%, public sales have 20%, the market has 17%, the team has 8%, rewards have 4%, private sales have 4%, bonuses have 3%, and reserves have 2%. The majority of the money is still given to the ecosystem, and the team themselves do not take much.
To sum up this project, it was launched in 2021, but the progress is very slow at present. There are no cooperation cases at present, and the official website is also very simple. It also says that it will build its own chain, but there is no progress at present. Its own tokens are still issued on Ethereum, so I don’t know what the team is doing.
The third project is Telecoin
Telcoin (TEL) is the native medium of exchange, reserve asset, and protocol token of the Telcoin user-owned decentralized financial platform. TEL enables end-users to seamlessly access and support a suite of user-owned decentralized financial products around the world. The TEL incentive mechanism aligns market participants (such as telcos and active users) to provide specific value-added services to the platform's end users, aligning the incentives of the Telcoin ecosystem with the goal of providing fast, affordable, user-owned financial products to every mobile phone user in the world.
Telcoin Pte. Ltd.
Telcoin was founded in Singapore in July 2017 and uses blockchain technology to provide decentralized financial services to any mobile device. The company's first product, Telcoin Remittance, focuses on high-speed, low-cost digital remittances to mobile money platforms and e-wallets. Telcoin Remittance makes remittances convenient, economical and secure through global telecom, mobile money and e-wallet partners.
Telcoin recently launched version 3 of the platform, introducing two user-owned financial products including The Send Money Smarter Network (SMS), a user-owned global remittance network, and TELxchange, a user-owned decentralized digital asset exchange.
Telcoin is regulated in Singapore by the Monetary Authority of Singapore, operating as a Major Payment Institution. Telcoin is also registered and regulated in several global markets including Canada and Australia, and has main offices in Singapore, Tokyo, Dubai and Los Angeles. Telcoin has been an active member of the GSMA since February 2018.
Project Highlights
The company adopts a model whereby it distributes its own tokens to mobile networks according to a highly incentivized model. Telcoin tokens will be distributed to telecom companies at a rate of 5% per year for 10 years after the ICO. This phase will be considered a consolidation period and will allow the currency to slowly enter the mobile market. Other key features include:
Incentivized adoption: Anyone who adopts this network immediately becomes part of a group eligible for token rewards.
System Flexibility: Flexible “token pricing and exchange APIs” allow the platform to fully interact with mobile networks.
Secure Wallet: The company offers a “TenX Wallet” to all customers, but also stated that in the future, they aim to help launch their own wallet brands that will work hand in hand with any operator or third-party partner, third-party payment platform.
Token Economy
The total number of tokens is 100,000,000,000, with 88,149,420,414 in circulation, a circulation rate of 88%, and the current exchange rate is 0.0037 USD. The peak was $0.064884 (2021-05-11). Currently, the trend of this token has hardly fluctuated, with only a surge in May 21, and there has been no improvement so far.
Finally, to summarize this project, I feel that it is a pseudo-demand. The actual product is just a wallet app and an exchange, with no other related products. It is far from the mainstream related products because it is not clear what I want to do (what is a decentralized financial product used by global users), so the product is almost the same as the existing products.
Among these three projects, only AERO is slightly better. It still has a certain amount of TVL and is also the leader of the base ecosystem. However, in terms of product strength, they are relatively weak, so it is no wonder that they are ranked in this position.
