A List of 9 New Projects Favored by 50 Developers

Original Author: fomosaurus, Crypto Enthusiast
Original Compilation: 0x137/Rhythm Research Institute

In the past few weeks, I have been communicating with many developers and discovered some interesting projects that I feel are worth sharing. I know there are many articles introducing quality projects, so this article also makes some interesting attempts.

The following content comes entirely from the developers, who will provide a brief introduction in the most concise language, covering five aspects: the problems the project solves, its uniqueness, cool features, supported public chains, and development progress.

Without further ado, let's get started:

Galleon DAO

Problems Solved:

By combining the optimistic governance model with the infrastructure knowledge of Set Protocol, Galleon DAO aims to identify new crypto narratives and break through the already structured product space to launch new products that meet user needs.

Uniqueness:

Galleon DAO adopts an optimistic governance model, a DAO governance mechanism that enables fast-paced, proactive, and streamlined governance. The DAO only votes to decide whether an ongoing project needs to be terminated, allowing Galleon to effectively coordinate and execute the development of new products and provide users with strategies that keep pace with the market.

Additionally, Galleon DAO is not just a fork of a DeFi project; in a structured product space, you need a certain level of expertise to develop across various DeFi protocols, giving Galleon DAO a unique advantage in this regard.

Cool Features:

Through a scalable, composable, and fully backed ERC-20 Token, our structured products can provide users with a range of thematic, narrative, and strategic investment exposures. Meanwhile, this Token can also be used with other DeFi functionalities, such as staking and lending.

Supported Public Chains:

The governance Token of Galleon DAO is currently deployed on Arbitrum, but Galleon's future products will be multi-chain and focused on Layer 2. A significant prospect for Galleon DAO is that it does not rely solely on a specific public chain but can develop revenue-generating products across all networks that support Set Protocol.

Development Progress:

Galleon DAO's first collaborative product, the SOLUNAVAX Index with Beverage Finance, has been launched on Optimism. We have also initiated the treasury launch event for Doublon to support the roadmap for product and community plans. Additionally, we are hiring!

Gradient Protocol

Problems Solved:

We are building the first DeFi lending protocol that uses NFTs as collateral, allowing users to use any NFT as collateral for instant loans while enabling people to earn interest on the NFTs they own.

Uniqueness:

Gradient uses Abacus Spot to track the market price of specific NFTs in real-time, allowing loans to be automatically issued immediately with a very high loan-to-value ratio.

Cool Features:

As long as you hold an NFT, Gradient can generate interest and various passive income for you.

Supported Public Chains:

Ethereum mainnet and Arbitrum, with a high likelihood of supporting Optimism in the future.

Development Progress:

Development is nearing completion, but we welcome various fundraising opportunities.

Timeless Finance

Problems Solved:

Achieving tokenized yields with maximum composability and liquidity.

Uniqueness:

Unlike existing protocols, Timeless offers perpetual yield tokens (PYTs) that never expire, making them easier to hold, use, and trade, while also providing deeper liquidity.

Additionally, Timeless offers negative yield tokens (NYTs), which are a native protocol mode for shorting yields.

Cool Features:

Timeless has developed a new AMM that provides deep liquidity for PYTs and NYTs, maximizing LP pool returns.

Supported Public Chains:

Ethereum mainnet, with plans to support Fantom and other public chains in the future.

Development Progress:

Currently in development, with a Beta testnet expected to launch in late March or early April.

LVL Protocol

Problems Solved:

Providing a composable on-chain reputation system for DAOs, communities, and metaverse products.

Uniqueness:

LVL Protocol emphasizes data composability but is not just a reputation system; it is an infrastructure that aggregates all systems (verifiable credentials, web3 data, web2 data, etc.) into a "basic skill level" that any smart contract can integrate.

Each community can define the skill levels applicable to its ecosystem environment, even when aggregating data from external communities. For example, IndieDAO can aggregate member data from Developer DAO, Vector DAO, and Friends With Benefits into a comprehensive "design" or "development" skill and grant them access to specific projects based on this composite reputation score.

Cool Features:

Compared to standard 721 or 1155 token gated scenarios, "skill levels" can be stored on-chain at a cost 3000% lower than the average gas fee.

Supported Public Chains:

Ethereum, with Layer 2 support coming soon.

Development Progress:

Alpha version provides limited access.

Floor DAO

Problems Solved:

Floor DAO aims to provide deeper liquidity for blue-chip NFTs, enabling them to earn yields through various DeFi applications, achieved by combining the market-making infrastructure of NFTX with the bonding mechanism of Olympus.

Uniqueness:

Floor DAO is a fork of Olympus V2, but its revenue strategy is very clear: stake the PUNK and PUNK-WETH liquidity owned by the treasury in NFTX to earn trading fees.

Unlike other Olympus forks that focus on low-yield stablecoins, the yields from market-making NFTs on NFTX can typically reach three to four digits and are presented in the form of PUNK Tokens (fractionalized Crypto Punks). This organic yield brings a very sustainable future, and the DAO intends to expand its blue-chip NFT collection beyond Crypto Punks, but this requires a DAO vote.

The founding members of Floor DAO are developers and designers from NFTX who share a common vision for the composability of DeFi and NFTs, which can fundamentally change the market.

Cool Features:

The impact of bringing deep liquidity to blue-chip NFTs far exceeds the revenue potential of Floor DAO. Collectors will be able to trade Crypto Punks quickly at fair market prices; developers will be able to integrate PUNK into DeFi platforms using reliable price oracles; traders will be able to price assets above the floor price using PUNK Tokens. With sufficient liquidity, centralized exchanges may even consider listing PUNK.

This is just one aspect of building products from NFT liquidity. If Floor DAO succeeds, it will create a powerful web3 building block for other developers.

Supported Public Chains:

Ethereum mainnet.

Development Progress:

FloorDAO is currently testing on Rinkeby and will conduct an LBP through Copper on February 22 to distribute the governance Token aFLOOR. aFLOOR holders will vote to determine the deployment of the open-source protocol and its initial parameter set.

Fief Guild

Problems Solved:

Fief is an innovation on the traditional guild model, aiming to reduce its heavy reliance on the "Scholarship" mechanism. It is the first economic guild fully focused on trading interactions among gamers. Through a primary protocol, the guild can achieve self-sustainability while unlocking previously hidden utility and value from assets acquired from the entire metaverse ecosystem.

Fief's protocols and experiences are tailored for gamers, GameFi, and metaverse assets. Leveraging the core essence of DeFi, Fief's ultimate goal is to create a user-friendly experience that attracts millions of users.

Metaverse assets are extremely scarce and competitive, requiring extensive research, and Fief will benefit from the community and industry opportunities it is building.

Uniqueness:

Fief is introducing an internal economic game model that will enable the guild to achieve high productivity and self-sustainability while retaining users as much as possible through a progressive reward system.

Additionally, Fief's guild faction model allows users to quickly find their "tribe" and add tasks and incentive paths that align with their interests. As GameFi and the metaverse rapidly expand, gamers can benefit from the tailored experiences that Fief Guild offers.

Cool Features:

By owning an RPG-style character representing their identity on the Fief protocol, users can benefit across platforms based on the NFTs equipped to their characters.

Supported Public Chains:

Main tokens and contracts are deployed on Avalanche, with plans to gradually expand to multi-chain.

Development Progress:

Tokens have been launched this week on Trader Joe's Rocket Joe and are now officially trading.

Fief Marketplace and Initial Guild Membership NFTs will launch together in early March, which is the main event for distributing FIEF Tokens and the first entry point for our gamified guild faction system.

The Idols NFT

Problems Solved:

The Idols is an NFT + DeFi project that allows the community to earn permanent passive income while maintaining Ethereum. The Idols is creating a new framework that aligns founders with their communities so that everyone can access the project's long-term success in the same way.

Uniqueness:

100% of minting revenue will be staked, and rewards will be distributed to the community; 100% of transaction fees will be directly allocated to the community; the token allocation period for the founding team depends on the project's success.

Cool Features:

A virtuous cycle continuously expands the treasury to increase returns to the community; the Goldlist mechanism aligns the team's token allocation period with the community.

Supported Public Chains:

Ethereum mainnet.

Development Progress:

The minting event will take place on March 5, 2022.

Echidna Finance

Problems Solved:

Echidna Finance is the ultimate yield booster protocol for Platypus Finance on the Avalanche chain. Echidna simplifies the yield farming process for Platypus users and enhances stablecoin yields through vePTP inventory in the treasury.

Uniqueness:

Echidna will become the first yield-enhancing protocol for Platypus Finance, allowing anyone to achieve triple-digit stablecoin APR using Echidna's vePTP inventory. Additionally, Echidna will fairly distribute tokens, not allocating any funds to VCs, and will launch initial liquidity through the community.

Cool Features:

Users can use Echidna's Zap feature to deposit stablecoins directly into Platypus with one click.

Supported Public Chains:

Avalanche.

Development Progress:

Currently awaiting Platypus's audit and whitelist, and has announced a token airdrop; initial liquidity launch will take place on February 21; the Beta version will be released at the end of February.

Watchtower

Problems Solved:

Watchtower allows NFT investors and traders to track, filter, and categorize events occurring throughout the NFT ecosystem to better discover, evaluate, and capitalize on potential market investment opportunities.

Uniqueness:

Watchtower enables users to aggregate data and messages about relevant events onto a dashboard and cross-reference all data in one view, helping users gain a comprehensive understanding of what is happening.

Cool Features:

One feature our team particularly likes is the "Quick Track" function, which allows users to click on any wallet address or collectible encountered in Watchtower and automatically generate a preset dashboard to track key events related to it.

Supported Public Chains:

Ethereum mainnet.

Development Progress:

Currently in limited access, with a full release expected within the next three months. Watchtower is self-funded and currently has no fundraising plans.