Today, we're looking at two projects: one is HOME, a trading platform, and the other is the metaverse social fan token IDOL.
1. Defi app-HOME
Home launched on June 10, focusing on a user-friendly Defi application, lowering the threshold for users to utilize web3. Through DeFi.app, users can purchase tokens on any blockchain, engage in 'instant, one-click' cross-chain transactions, access decentralized derivatives markets, and gain earning opportunities—all without paying gas fees or setting up bridges. The platform uses 'full-chain abstraction' to eliminate gas fees, employs passwords and biometric technology for security, and does not require Know Your Customer (KYC) checks.
Core feature highlights
1. Full-chain abstraction (cross-chain aggregation)
Supports Ethereum, Arbitrum, BNB Chain, Base, Solana, and other multi-chains for one-click cross-chain swapping, allowing users not to understand the underlying chain structure.
2. Account Abstraction
Users can quickly register through email, social accounts, or a regular wallet without manually saving private keys or mnemonic phrases, and can enable 2FA, significantly enhancing usability.
3. Zero Gas, Zero Bridging
Gas fees are borne by the Defi App (embedded in the transaction fee), eliminating the complexity of intermediary coordination in the bridging process.
4. Integrated Functions
Integrating various DeFi functionalities including wallets, swaps, cross-chain operations, liquidity mining (yield farming), lending, perpetual contract trading, and AI assistants (some functions are still in development).
5. Fiat channels
Supports purchasing tokens via card/Apple Pay/Google Pay/PayPal, making it especially convenient for newcomers.
6. AI-assisted operations
The official plan is to launch an AI assistant that completes DeFi operations through text interactions, further lowering the user threshold.
Financing Situation
As of Q1 2025, a total financing of approximately $6 million has been completed, with a valuation of $100 million, including a $4 million seed expansion round in February 2025. The main investment institutions are shown in the figure below.
Team Situation
There are no very big names, but at least it seems not to be a domestic project, with very little introductory information.
Token Economy
The total token supply is 10 billion, with 2.7 billion currently unlocked, distributed as follows: community ecosystem 45%, core contributors 20%, early supporters 10%, foundation 10%, protocol development 10%, liquidity 5%. The team takes a bit too much (20% + 10% + 10% = 40%).
Community + protocol development unlocks begin after 4 months, foundation unlocks after 6 months, and investor and core contributor unlocks after 1 year. Such unlocking can be said to have almost no opportunity!!
Currently priced at $0.03, with a market cap of $90 million and an FDV of $330 million. Due to the financing valuation of only $10 million, and frankly, this project has no innovative points, coupled with a large amount of unlocking, you should know how to proceed.
2. MEET48
This MEET48 is a girl group created by domestic Siba Media, known for groups like SNH48, etc. It’s essentially a group with the suffix 48.
MEET48 is a comprehensive entertainment community focused on Web3 AI-Agent + AIGC virtual idols + fan economy, built on BNB Chain (Binance Smart Chain).
Aiming to become a key entry point for Web3 entertainment and the metaverse, focusing on Generation Z, and reshaping idol culture through AI-generated content (images, music, dance, etc.).
Core ecological components
MEET48.ai + Mars Protocol
The MEET48.ai platform can generate idol AI-Agents with autonomous decision-making capabilities with one click, supporting chat, live streaming, interaction, performances, and more. Equipped with text-to-speech, audio-to-dance, and other AIGC technologies.
Mars Protocol is its tokenized nurturing and trading platform, allowing fans to support AI-Agents through meme tokens and receive rewards.
Community Voting Mechanism
Successfully held large-scale idol voting events such as 'GIPR2' and 'BEST7 M', with a total of over 697 million user votes, surpassing 3.4 million users, and over 10 million on-chain interactions.
Game Interaction
Launch Coin Idols (the first no-click idol nurturing game on TON), while also planning to launch several GameFi projects such as AI-Audition (Web3 version of 'Audition'), CoinFishing, MonopoliFi, etc.
Financing Situation
There are investors, but I can't find any financing reports, which is what I mean by just coming to take a stand and collect coins.
I won't comment on the team; it's definitely a domestic project. Everyone can look for themselves, and it's hard to find any information on the token economy, whether on the official site or data sites. Why don’t they dare to disclose token distribution and unlocking? This I cannot understand; it's already 2025, and there are still projects not disclosing these.
Currently, the only known total token supply is 4.8 billion, with a token price of $0.016 and an overall FDV of $78 million.
I found a piece of data indicating that this token underwent an IEO on Binance in January 2025 at around $0.02, meaning it is currently in a state of being below the issue price.
Then the key point is what this token is used for; currently, the official explanation is that IDOL can be used for voting for your favorite idols, meaning there may be hundreds of girls in this group, but only a few dozen can debut and perform.
Currently, there are four voting methods: directly using idols, purchasing point cards, or gifting in the live stream.
This voting started on 6/13 and ends on August 2. I'm not very clear about this area, but I remember that fans in such groups were very passionate, spending tens of thousands or even over a hundred thousand for a meet-and-greet. So I can't understand this fan economy. Of course, this is just an impression from many years ago; I’m not very clear about the current status of this group, but I feel it might not be doing well, otherwise, they wouldn't venture into Web3 to raise funds.
To summarize these two projects, the first is a trading platform with no distinct features, with massive unlocking by VC. The second is a domestic project with an opaque token economy. One can only say that fans of these celebrities are in for a tough time, getting cut in Web2 and now again in Web3.