October 2024 Crypto Hidden Gems: Top Projects to Watch This Week
This week, we’ve thoroughly evaluated and scored several promising crypto projects that show strong potential for growth. Some of these still await full code reviews, but they’ve already stood out based on our initial fundamental analysis. Here’s a closer look at what’s making waves in the crypto space as we head into Week #40 of 2024.
Mantis – 64.58%
Website | X (Twitter)
Sector – Chain Abstraction
Status – Not live yet
Mantis, formerly known as Composable Finance, is positioning itself as a next-generation intent expression and fulfillment protocol. It offers a comprehensive suite of interfaces for submitting intents, interacting with solvers/searchers, and settlement across the Inter-Blockchain Communication (IBC) Protocol. Mantis aims to significantly reduce Miner Extractable Value (MEV), ensuring users experience optimal transaction execution.
Mantis is also innovating by building an application to enable functionalities such as limit orders, swaps, and generalized intents on Solana and Ethereum. The platform operates via the Picasso Network, leveraging IBC to ensure secure cross-chain interoperability. Mantis’s ultimate goal is to create a decentralized marketplace for cross-domain intent expression, where users can issue and settle intents across multiple blockchains seamlessly.
Key Features:
- Generalized Intents: These off-chain signed messages encode a user’s desired state transition, such as “transfer X from A to B” or “swap X for Y.” By generalizing intents, Mantis enables a wide range of decentralized applications and use cases.
- CoWs (Coincidence of Wants): This system allows two opposite transactions to settle without the need for a third-party intermediary, optimizing for efficient trading.
- Native Yield: Mantis accounts, which operate on the Mantis Rollup, allow users to earn a yield on any assets deposited into the system.
- Single and Cross-chain OFAs: Order flow auctions optimize transaction settlements, with solvers bidding to provide the best outcomes.
Investors: Mantis has received investments from major players such as GSR, Coinbase Ventures, NGC Ventures, Jump Capital, and Spartan Capital.
Token: The native token, MANTIS, powers the network by securing the rollup, incentivizing intent solvers, and offering staking rewards.
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Nodepay – 60.42%
Website | X (Twitter)
Sector – AI
Status – Active
Nodepay offers a unique opportunity for individuals to monetize their unused internet bandwidth by contributing to artificial intelligence (AI) training. By repurposing idle bandwidth, Nodepay helps decentralize the infrastructure used in AI development, solving critical issues related to data centralization.
Nodepay’s network supports AI companies by providing a secure and efficient means for accessing public training data, labeling, model sharing, and distributed training. Users can earn from their excess bandwidth through Nodepay’s browser extension, which runs in the background while performing everyday tasks.
Key Features:
- Monetize Unused Bandwidth: Users can transform excess bandwidth into income, which is used for AI training.
- Nodepay Extension: A browser extension that allows users to earn passively while browsing.
- Referral Program: By inviting friends, users can boost their earnings.
- User Dashboard: The dashboard provides real-time tracking of earnings and contributions.
Investors: Backed by Jump, Animoca Brands, and Elevate Ventures.
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Terrace is a non-custodial crypto trading terminal and broker aggregating liquidity from both centralized and decentralized platforms. It simplifies the trading process by offering best price routing, advanced order types, and synthetic pairs. Terrace operates across 12 chains, abstracting away the complexities of wallets, chains, and venues.
Yellow Network – 64.5%
Website | X (Twitter)
Sector – Layer 3
Status – Testnet
Yellow Network is pioneering a new form of decentralized trading with its Financial Information Exchange (FIE) platform. It addresses liquidity fragmentation across the crypto industry by enabling peer-to-peer (P2P) trading across different networks and brokerages, creating a more cohesive and decentralized trading ecosystem.
Yellow Network’s Layer-3 P2P mesh network allows participants to swap assets across various exchanges without relying on traditional block creation, thus solving a key issue for decentralized trading.
Investors: Key backers include Moonrock Capital, GSR, and Consensys.
Token: The YELLOW token is used for settlement fees and collateral insurance within the ecosystem.
XDC Network – 60.42%
Website | X (Twitter)
Sector – Layer 1
Status – Active
XDC Network is an enterprise-grade blockchain operating as a Layer 1 protocol. Its hybrid, EVM-compatible platform is designed for real-world decentralized finance (DeFi) applications, focusing particularly on trade finance and asset tokenization.
The platform employs a delegated proof-of-stake consensus mechanism, offering rapid transaction processing (over 2,000 TPS) and nearly zero gas fees. XDC’s interoperability allows for easy integration with traditional financial systems like SWIFT.
Key Features:
- Near-zero Gas Fees: This makes the network ideal for enterprises seeking cost-effective solutions.
- EVM Compatibility: Enables developers to create decentralized applications (DApps) with ease.
- Performance: Capable of processing over 2,000 transactions per second.
Token: XDC is the native token used for network governance, transaction fees, and staking.
Terrace – 62.5%
Website | X (Twitter)
Sector – Blockchain
Status – Invite-only
Key Features:
- Liquidity Aggregation: Trades across multiple chains and venues with ease.
- Unified Listing: Offers a universal listing for tokens across all chains.
- Clearing House: Acts as crypto’s decentralized clearing house for trade settlements.
Investors: Terrace is backed by YCombinator, Hack VC, and Hashkey.
Token: TERRACE is used to unlock fee discounts and exclusive platform features.
These projects highlight the innovative potential within the crypto space, offering solutions across various sectors. As Coin Push Crypto Alerts continues to explore these opportunities, we aim to provide the most up-to-date insights on crypto alerts, signals, and trends for 2024. Remember, Coin Push Crypto Alerts doesn’t offer buy, sell, or trading services. Stay informed, stay safe, and explore the potential of these hidden gems as they evolve throughout the year.eate DApps capable of automating tasks without intermediaries.
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Disclaimer: The information provided in this article does not constitute investment advice, financial advice, trading advice, or any other advice, and should not be treated as such. Coin Push Crypto Alerts does not recommend buying, selling, or holding any cryptocurrency. Always conduct your due diligence and consult a financial advisor before making any investment decisions.
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There are indications that the crypto will be distributed to players over two years rather than all at once. This approach is likely designed to prevent a rapid drop in price after listing, with the intention that only the “whales” will remain to gradually buy up your coins.
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