Understand @Chainbase ( $C) TGE Value at a Glance

Index Rating: ★★★★☆ (4/5)

Price Prediction: Unknown

This project can only be described as high potential, but it also comes with high risks, making it more suitable for investors with a long-term perspective and a high risk tolerance.

Advantages:

1. Endorsement from Universe-Level Investors:

The project completed a $15 million Series A financing in the fourth quarter of 2023. The names Tencent Investment and Matrix Partners China are prominently featured on the investor list.

In the Web3 circle, these two may not be very familiar: Matrix Partners has invested in XPeng Motors, Li Auto, Haichun Energy, Chehaoduo Group, and Ele.me.

Tencent Investment has been involved with Meituan, Pinduoduo, Huya, Douyu, NIO, and Bilibili, among others.

They are not only top-tier strategic investors globally but have also secured board seats in the transaction, meaning they will deeply participate in project governance and development, which is much more impressive than just providing funding.

2. “Generationally Leading” Technical Architecture Strategy:

Chainbase has not chosen to be a “better The Graph,” but instead aims for a “generational leap” over existing solutions by adopting a dual-chain architecture, customizing CVM, and introducing Eigenlayer's re-staking for security. Its core objective is not merely data querying but verifiable, decentralized on-chain data computation, directly addressing the pain points of AI and future advanced DeFi applications.

Disadvantages:

1. Exceptionally Fierce Competition in the Sector:

The Web3 data sector already has an absolute king—@graphprotocol. GRT, with its first-mover advantage and strong network effects, has deeply integrated into thousands of dApps. For Chainbase as a newcomer, trying to seize market share from GRT is akin to seizing food from a tiger's mouth.

2. The “Sword of Damocles” from Top VCs:

The structure of Chainbase's Series A financing is “equity + token warrants.” This means that top institutions like Tencent and Matrix Partners can obtain a large number of $C tokens at a very low, undisclosed predetermined price in the future. While this represents a long-term deep binding, it also means that these early investors have a very low cost. Of course, I’m not particularly worried as these two rarely dump for cash.

A rare high-quality project, hoping for more opportunities to benefit.