Delphinus Lab (ZKWASM)
Delphinus Lab is dedicated to creating zKWASM, a zero-knowledge virtual machine that supports WebAssembly, allowing developers to directly write on-chain applications with verifiable proofs using languages such as C, Rust, and AssemblyScript, simplifying the development threshold for zk applications. The team has a strong research background: founder Sinka Gao and others come from Tsinghua University and MIT, having received funding from Polychain, Binance Labs, OKX Ventures, HashKey, and others, totaling over several million dollars. In terms of community, there are about 70,000 followers on X, GitHub contributions are frequent, and the technical community is significant, but the current user base is mainly developer-oriented. The total issuance is 1 billion ZKWASM tokens, primarily used for incentivizing validators and ecosystem development, with team tokens being unlocked linearly, though the specific ratio has not been disclosed. Referring to basic infrastructure projects in the ZK track such as Scroll (FDV ~ $350 million) and Polyhedra (~ $170 million), if widely adopted post-mainnet launch, ZKWASM has the opportunity to reach a market cap level of $200–500 million. It is still early, and whether the technology can replicate the node economy is key.
Evaluation: This is a typical 'bottom-level hardware type' project, with solid technical strength and great future potential, but short-term popularity is low, and the expected airdrop value is medium to small.
Yala (YALA)
Yala is a platform for issuing stablecoin $YU backed by Bitcoin, aiming to allow BTC holders to lend liquidity to participate in DeFi and real assets without selling their coins. The circulating market cap of the $YU stablecoin is approximately $119 million, with active trading on both Ethereum and Solana chains, with daily trading volumes exceeding $1.1 million. The project completed an $8 million seed round financing in 2024, with investors including Polychain, Galaxy, Amber, HashKey, and others. On July 17, the total supply of 1 billion YALA token economic model was released. In the token distribution, investors account for ~16%, community and ecosystem 20% (45% unlocked followed by 24 months of linear release), treasury 29%, marketing 10%, team 20%, airdrop 3.4%, and market makers 1.5%. The expected initial FDV of the YALA governance token may be between $20–50 million, which is close to Sovryn (FDV ~ $14 million), a project in the BTC lending track.
Evaluation: The core logic of Yala 'using BTC to preserve value while participating in DeFi' is very down-to-earth, belonging to the type of project that 'can make money without selling Bitcoin'. It truly solves the issue of fund utilization efficiency for BTC holders, with an expected airdrop value of medium to high.
Follow me for first-hand Alpha event information🔥
❗️The content of this article is for reference only and does not constitute any investment advice.
