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Emiri Diary #3: Is DeFi Back? Our Top Unearthed Gems

May 28, 2024

In conclusion

GM apes and apettes! It’s been a while, but the Emiri Diary is back.

For those who don’t know, this is a series in which I try to help you be earlier than early. I share some very early-stage projects that I’m keeping tabs on because I don’t gatekeep.

This also means that some of these projects are risky. Please DYOR and ape at your own risk because any of these could rug at any moment. And no, you cannot DM me for refunds.

Without further ado, let’s dive straight into things.

#1 Encifher

Twitter - https://twitter.com/encifherio

Let’s start the diary with a personal favorite. AI.

We all know how exciting decentralized AI is. Lots of cool stuff is being built, but it is far from fully developed. New products continue to come to market to improve the sector as a whole.

One such product is Encifher. They believe that on-chain ML inferences will be very important in the near future, but on-chain AI products need to encode some level of privacy. Their product aims to fix exactly that: privacy solutions for AI.

There isn’t much about the product itself, but they have some big brain substacks out that are well worth reading.

#2 Adapter.fi

Twitter - https://twitter.com/Adapter_fi

A rare DeFi product is in the mix today.

Adapter Finance is essentially a vault product designed to allow users to maximize their yield from different blue-chip DeFi protocols.

Pendle is a good example. Pendle arguably has the most activity out of all DeFi products at the moment. With so many different vaults, protocol integrations, and potential strategies available, it becomes difficult to execute strategies manually. With Adapter, you can combine multiple strategies into one vault and allocate a fixed percentage to it while also defining more specific parameters for your strategy.

It’s pretty neat.

I don’t think they have a product ready, but get active in the discord, it should be promising.

#3 Scalepod

Twitter - https://twitter.com/scalepod

Scalepod is another AI-related product that offers you yield on GPU power.

I know this GPU mining market is kinda saturated, but if you’re early to these mining products, you can still make pretty good yields before all the CT vultures hop on board.

The bonus here is that deploying and managing your mining operations with Scalepod is significantly easier, and they’ve already integrated with Heurist AI. Seems bullish.

One worth keeping tabs on.

#4 Arcana Finance

Twitter - https://twitter.com/Arcana_fi

Now, before I tell you what this is, I’d say tread with caution on this one. There are no socials other than Twitter and very little info in general, so interact at your own risk here.

Arcana is essentially looking to capture the DEX market share on Mode. Mode is a relatively underutilized L2, which means there are still good yield opportunities and a chance to be early on something big.

Arcana is a Uni-V3 style DEX offering leveraged yield farming. For you DeFi farmers struggling to find good pools, Arcana could be worth a try.

#5  Oracul

Twitter - https://twitter.com/Oracul_ai

Oracul is at the intersection of RWAs and AI.

Their platform essentially uses AI to generate market info on all RWAs. This includes news, market data, price predictions, and trend analysis, amongst other things. Their AI models specialize specifically in this.

Eventually, Oracul will also offer stablecoins that are pegged to prices of RWAs, such as commodities, making it the go-to place for all things RWA.

Looks pretty cool from first glance.

#6 Hypurr Fun

Twitter - https://twitter.com/Hypurrfun

Hyperliquid has been killing it. That’s no secret. The crazier thing is that it’s still very early in their journey.

As they start to build out their full product suite, things are only going to get bigger and better. To prep yourself for that, I found a TG bot for Hyperliquid shitcoins.

TG bots are significantly faster and easier for memecoin trading, but you, of course, need to exercise caution when using them.

As we start to see more coins deployed on Hyperliquid, Hypurr Fun could be a useful tool.

#7 Aloha Protocol

Twitter - https://twitter.com/AlohaProtocol

Aloha is another AI protocol that is focused on ensuring AI accuracy.

Centralized AI products are controlled by the company itself. While the models are good, they often lead to many inaccuracies due to bias and human error, which affects the end user of AI.

It’s easier to fix this by decentralizing AI. Aloha is a consensus protocol that creates consensus between multiple AI models' outputs to reduce inaccuracies. The product suite that can be built using this is immense.

They already have around 10 applications live, and many more can be built on top of them. This one looks really cool.

#8 Dill

Twitter - https://twitter.com/dill_xyz_

I'm sure most of you are familiar with Ethereum’s long-term roadmap. If so, then you know how big a role sharding plays in it.

Dill drew inspiration from this roadmap, and they went on to build a sharding-based data availability.

Modular money died since Celestia, but Dill could bring it back. We have to wait and see what it will look like in practice, but I, for one, look forward to another modular money pump.

#9 Permaverse

Twitter - https://twitter.com/ThePermaverse

The Arweave ecosystem is growing rapidly. The AO computer has caught everyone’s attention, and you’re starting to see teams build on the so-called permaweb.

Permaverse is one such product. It’s a gaming product. It’s essentially a gaming hub and launchpad containing different games and characters to create a sort of metaverse on Arweave.

Now, I won’t lie and tell you that it’s an insane-looking game. It’s very basic and bare-bones. But IF this turns into something, it’s good to keep tabs on it early.

#10 Symbiotic

Twitter - https://twitter.com/symbioticfi

Restaking was the go-to play for the first half of 2024. Points farming galore!

Symbiotic is a new player in the restaking arena. There is no information about the product other than the bio, which states “permissionless restaking.” If these guys turn out to be serious players, it’s worth having on your radar.

#11 Splice Finance

Twitter - https://twitter.com/splice_fi

Splice is another product that’s built on Mode.

Put simply, it’s a Pendle fork. So, you can trade the yield of different assets on it and customize your strategies as you please.

They already have products like Renzo, Kelp, and EtherFi on there.

If Mode grows from here, you can expect Splice to grow as well.

#12 Attention.wtf

Twitter - https://twitter.com/Attention_wtf

This is another product that has almost no information.

The only reason I’m including it here is the bio. It states, “trade attention not fundamentals,” which is very true for crypto.

What are they building? I have absolutely no clue, but I sure am intrigued.

#13 Eave AI

Twitter - https://twitter.com/EaveAI

This is essentially a product that makes our lives easier.

There are thousands of crypto-related Twitter spaces that occur every day, but ain’t nobody got the time to sit and listen to them.

Eave uses the power of AI to aggregate, compress, and compile information from all of these spaces into easy-to-digest bite-sized info at your fingertips.

Now, you will never miss any alpha because you’ll be tuned into all Twitter spaces from one place.

Good stuff.

Alright, folks! That’s all for today. Thanks for reading. I hope this helped you.

This is all I have for today, but I will be back in a week or two with even more earlier than early alpha. Stay tuned.

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