To obtain an audit of a token, follow these steps:
1. Copy the contract address of the token. 2. Enter the contract address into the search bar. 3. Wait for the Scanner to display all the relevant information.
As we see, the token received a low score of 37/100
The contract has 3 High-Risk Items:
- Locked Ether: Funds sent to this contract cannot be withdrawn
- Missing Liquidity: Token liquidity is not found
- Dump Risk: A private wallet owns a significant percentage of token's supply
Scam tokens frequently masquerade as legitimate ones, sometimes even adopting identical names. Let's examine a case involving two tokens, both named $PEPE:
Original PEPE: 0x6982508145454ce325ddbe47a25d4ec3d2311933
Scam PEPE: 0x222cd47e2e6c70478acc6e7a0f9a23338afd4a98
While analyzing a scam token, the Scanner revealed that the DeFi score is 21/100. The token carries several risks, including:
Now, let's review the audit of the original token $PEPE. As anticipated, we received a perfect score of 100/100, indicating no risks.
8/
It's important to remember that the security of your assets is your responsibility.
Taking just three simple actions on the @dedotfi platform, which will only take a couple of minutes, can help you avoid falling victim to scammers.
Despite the fact that this thread is written in partnership, I must say that I find these free tools incredibly useful. The team's development is truly admirable, and I highly recommend their use to anyone involved in on-chain trading.
Moreover, there is an exciting announcement scheduled for tomorrow that deserves our attention.
β€ Current focus has significantly shifted towards Layer2 narratives.
That's why I'm spotlighting on underrated Layer1 platforms that possess the potential for substantial gains.
The momentum is building around $XRD and Babylon intends to escalate this further.
Early again!β
β€Radix is a Layer1 platform, an open-source technology stack that powers the Radix public network.
β’ The key components are:
β Radix Node: Implements a fault-tolerant consensus protocol for transaction commitment.
β Radix Engine: Defines application functionality, including token creation and transaction validation.
β In Babylon release, Radix Engine v2 becomes an extensible application layer for finance-oriented "smart contract" functionality using Scrypto.
β€ Unique nature of chain
β Radix Transaction Manifest: Solves the problem of uncertainty when signing transactions, preventing wallet emptying.
β Scrypto Programming Language: Enhances developer experience by seamlessly integrating assets as a built-in feature.
β Virtual Machine Radix Engine: The world's first "DeFi Engine" with potential to revolutionize DeFi.
β Cerberus Consensus Algorithm: Provides atomic composability and linear scalability by weaving consensus across shards.
β€ Adoption
The Radix consensus protocol can be implemented across various sectors such as:
β± Internet of Things
β± Medical Industry
β± Automotive Industry
Furthermore, the protocol's abilities extend to verifying transactions on Radix platform without the need for trusted third parties or miners.
This feature grants businesses and organizations trust in the accuracy of their data.
The Radix public registry also proves useful for industry-wide record keeping tasks.
These can include:
β± Monitoring supply chain logistics
β± Tracking digital asset ownership
β Thanks to this tech can get a good application in the Real World, and in this case it is not far to tokenization.
β€ Token Analysis
$XRD token - the native token of the Radix public network - was released in July 2021.
Utility: It secures the Radix network in the Radix Delegated PoS system. It's also the only token for transaction fees on Radix, which are burned.
Total supply: 24 billion $XRD
β 12 billion tokens were created initially, with 9.6 billion in circulation and 2.4 billion locked in a stable coin reserve.
β Another 12 billion $XRD will be minted by the protocol over ~40 years to reward stakers and validators.
β $XRD was previously $eXRD and was launched in November 2020 as a platform on Ethereum, after a while Radix Network was implemented and the launch of its own ecosystem.
β’ Radix launched during the last bull market and has been actively developed since. The upcoming Babylon upgrade brings innovations to the ecosystem.
β With these factors in mind, there is no pressure on the token, and the accumulation strategy has strong growth potential.
β€ Radix Network
β 2 million transactions processed flawlessly in 2 years with 100% uptime
β Over 12,000 developers worldwide have tried it
β Applications include building decentralized exchanges, oracles, lending platforms, yield farming systems, DAOs, and more
β Over 50 projects built on Radix
β’ Upgrade to Babylon mainnet today.
This will definitely be an accelerator for the growth of the ecosystem and $XRD.
Here's what you should know β
β€ Babylon 2.0 is update that improves the already adaptable Radix platform.
This update brings new benefits and features, with a major focus on how $XRD can significantly improve development, deployment, and user experience.
β’ Main changes:
β Launch of the full Radix stack for DeFi
β Providing powerful smart contract functionality
β A complete collection of drawings for revision purposes.
β Improved wallet and improved user interface.
β Progressive achievements in transaction issuance
β Prospects for testing new tools in the future
With these notable improvements, $XRD is poised to take the DeFi industry to a whole new level.
β° Babylon's project directory is set to compartmentalize the network.
This provides developers with a built-in system for creating and expanding dApps, making them more efficient and easier to update.
βοΈ In addition, wallet improvements will further enhance efficiency and interoperability between these apps.
The development of Babylon has been ongoing since Q4 of 2022, and today it finally goes live!
β’ Here's what this means:
β The Olympia protocol will cease support, ending with era 32718.
β Babylon validator nodes will accept the new migration.
β Overall, a complete upgrade of the ecosystem is estimated to take no more than one hour.
With 4% L2 market share, zkSync aims to increase it to 20% with TVL $2-3 billion.
The $ZKS launch could be a significant catalyst the game for the entire chain.
Selling $ZKS after distribution might be a costly mistake.
Explore the reasons behind this β
β€ Financial resources
@zksync was one of the first projects to build the prototype for ZK-rollup in 2019.
Since then, it has attracted hundreds of millions of dollars in funding. The latest round was a $200 million Series C investment, led by @blockchaincap, @dragonfly_xyz and @a16z.
β All investment brings zkSync's total funding to $458 million.
βοΈ This funds is enough to create a high-quality product, as well as support projects built on the blockchain.
β― But zkSync will also have a $ZKS token, the distribution of which to projects can change the course of their game.
Taking the same $ARB as an example, the distribution of tokens to builders benefited the ecosystem.
β€ Unique Chain Features
β Native Account Abstraction upgrades externally owned accounts to smart contract accounts, enabling new possibilities.
β ZK-rollup provides privacy and fast transaction processing.
β Security is ensured by leveraging Ethereum as the base layer.
β EVM compatibility allows for ZK-based smart contracts to be compatible with Ethereum's EVM.
β’ Another important component of the ecosystem that many people often forget about is zkSync Lite.
Initially, the founders reported that Lite was planned to be used as a chain for payments.
β However, with the increasing adoption of tokenization (Real-world assets), zkSync Lite technology can potentially be introduced into this structure.
βοΈ This gives the project the opportunity to generate additional income for its services.
β€ Chain Activity Analysis
Since the launch of Arbitrum $ARB, more L2 chains have been introduced. This distracts users from zkSync, creating healthy competition in the market.
Generally, all on-chain metrics maintain high levels. However, it's important to understand that many of these are farmers, similar to Arbitrum.
β’ Given the above information, I still believe that $ZKS launch can attract more users and builders to the chain, just like Arbitrum.
β Moreover, considering that a bull market might be imminent, there's a chance that the token launch might coincide with its beginning.
Therefore, selling all $ZKS may be a mistake as this could just be the start of a long journey.
βοΈ One should also pay attention to the entire ecosystem.
Projects in the lists below might receive a lot of attention β
Focusing solely on narratives may blind you to great chance.
Fundamental projects have the potential to generate 10-15x gains with less risk.
While others were captivated by $ETH, $ARB, or $OP, Injective $INJ quietly expanded.
Prepare to be challenged by compelling data β
β€ Injective Protocol
@Injective_ is a unique Layer1 protocol enabling the creation of highly advanced applications, spanning exchange, DeFi, derivatives, and Web3 realms.
β± Built with the Cosmos SDK, this protocol executes transactions with extraordinary speed and instantaneous completion.
β’ $INJ is the native token, powering the Injective Protocol and nurturing a thriving ecosystem.
Support for Injective comes from prominent platforms like @Binance, and noteworthy investors such as @jump_, @PanteraCapital, and @mcuban.
β€ Injective Token Burn Auction
This unique mechanism takes protocol fees and turns them into the collective value of the protocol.
β In its early days, the Token Burn Auction managed to auction off 60% of all fees collected from exchange dApps built on Injective.
Subsequently, the $INJ tokens used to pay for the auction were burned.
β’ This innovative approach transformed transaction fees into a community incentive.
The result? Increased user engagement and activity.
β€ New Mechanism INJ Burn 2.0
Upgrading to $INJ 2.0 opens new opportunities.
Any dApp on Injective can participate in token burn auctions. This extends the benefits of the burn mechanism to a wider range of protocols.
βVarious dApps can get involved in the burn auction. They independently decide on the contribution amount.
β’ This update holds vast potential for the Injective community:
β A broader range of use cases can be integrated into the buy-back-and-burn mechanism
β It opens up a new level of utility for the $INJ
β Higher dApp participation increases the possible reward of the auction
β It allows burning larger volumes of $INJ
β€ Token Price Analysis
Some believe that $INJ peaked in 2021 - I strongly disagree.
For a clearer example, compare Injective with $AAVE and $ATOM :
β @AaveAave - in 2021 there was already a finished product that was rapidly growing and in demand. From current price to peak ~8x.
β @cosmos - a vast ecosystem with many projects, the token was able to reach $40. From current price to peak ~10x.
β @Injective_ in 2021 was just emerging and the token price grew with the market. But the ecosystem just didn't have time to expand and a bear market ensued. From the current price to the peak is ~3x.
β’ Now, $INJ has an impressive infrastructure and DeFi and NFT sector is massively growing.
Even a 10x return in a bull market might not be ambitious enough for this token.
βοΈ I've provided a simple example to articulate this perspective, without delving into specifics.
Most importantly, @Injective_ continues to expand significantly.
Just take a look at these colossal innovations.β
β€ Lately, the ecosystem has seen numerous game-changing updates:
β Injective Unveils inEVM, the world's first EVM capable of @cosmos and @solana layout
β @noble_xyz and @circle bring $USDC into the Injective ecosystem
β @HelixApp_ launched, a new trading portal for financial organizations
β @MitoFinance opened the first RWA vault and accepted early access users
β @TrustWallet and @SideProtocol integrating with Injective
β Injective integrates with Korea's leading layer 1 @klaytn_official for cross-chain interoperability
β 1RPC integrates Injective for enhanced privacy protection in Web3
β Injective launching native .inj domains with @SpaceIDProtocol
β Injective team announces Limitless Scaling coming soon
β€ DeFi
As the ecosystem grows, DeFi projects will be the first to react.
Here are some that are definitely worth keeping an eye on:
If you want to make the most of the next bull market, I'm giving you an early narrative to explore now.
β€ Tokenization is inevitable
Sleeping giants such as $MPL, $GFI, or $CFG may be dozing, but the low-mid-cap is just a moment away from becoming a blue chip.
Start preparing aheadβ
β€ RWA or Tokenization.
Real World Assets are assets from the βrealβ (off-chain) world that have been tokenized for their further use in the DeFi ecosystem.
Any assets are subject to tokenization, for example, tangible (precious metals) and intangible (copyrights).
β’ The most popular RWA in 2023:
β Shares and Government Bonds
β Real Estate
β Loan Obligations
β Collectibles
--------------
β€ Importance of RWA in DeFi
β’ Factors making RWA the most important narrative of recent times:
β― $TOTAL Crypto market cap in September 2023: $1.05 trillion, three times less than in 2021
β― Trading volumes on DEX decreased from $67 billion in November 2021 to $7 billion in September 2023
β― DeFi fund outflow: Total TVL decreased from $178 billion in November 2021 to $37 billion in September 2023
β― Capitalization of stablecoins decreased from $187 billion in March 2022 to $124 billion in September 2023
β’ The profitability of traditional financial instruments is growing:
β RWA integrates with the ecosystem to allow partial compensation for the outflow of investments from the crypto market to treasury bonds.
β As the largest tokenized traditional asset class, it boasts a total capitalization of $630 million.
β The introduction of blockchain into the banking and financial environment contributes to the development of RWA.
β’ Only in August 2023:
β SWIFT tested the transfer of tokenized assets between blockchains
β @visa has created a solution for paying on-chain commissions in fiat
β @PayPal launched a stablecoin
β @StellarOrg and @Ripple are becoming the technical basis for tokenization of securities, launching digital currencies of central banks and interbank transactions
--------------
β€ Benefits of Tokenization
Tokenization can bring benefits to both markets:
β DeFi sector receives a new source of capital and profitability, as well as new asset classes.
β TradFi opens up a new market and can unleash economic activity in DeFi.
It should be noted that DeFi platforms charge half the fees compared to banks.
β’ Today @Binance divides RWA projects into 3 categories:
β Equities projects
β Real Assets projects
β Fixed income projects
β£ Lending platforms allow you to receive a loan in crypto secured by RWA or borrow tokenized assets by providing real securities as collateral.
β― Examples of platforms: @maplefinance, @goldfinch_fi, @centrifuge.
β£ Tokenized public loans provide access to government bonds on the blockchain. Users can trade or hold RWA on these securities and receive payouts at a set interest rate.
β― Examples of platforms: @OndoFinance, @BondAlerts, @BackedFi.
β£ Real estate RWAs allow you to tokenize and trade ownership of residential or non-residential buildings, as well as receive rental income proportional to the ownership interest. Both fungible tokens and NFTs are actively used in this sector.
β― Examples of platforms: @tangibleDAO, @RealTPlatform, @lofty_ai.
--------------
β€ Key Metrics
According to @DefiLlama, RWA sector ranks 8th in the ranking of categories based on TVL.
Currently, the RWA TVL stands at $1.4 billion.
Given the enormous value of the real estate market, which is 300 times larger than the total crypto capitalization today, the RWA sector holds abundant growth potential.
β£ A forecast by Boston Consulting Group indicates that by 2030, the RWA market could reach a value of $16 trillion, amounting to 10% of global GDP.
--------------
β€ Here are a few more tokens worthy of attention and explore: