Kyros Ventures Invested in My Neighbor Alice’s $2.1M Seed Round

Antler Interactive has just raised $2.1 Million for a new blockchain game product called My Neighbor Alice.

My Neighbor Alice is a multiplayer builder game, where anyone can buy and own virtual islands, collect and build exciting items and meet new friends. Inspired by successful games such as Animal Crossing, the game combines the best of the two worlds – a fun narrative for regular players who want to enjoy the gameplay experience as well as an ecosystem for players who want to collect and trade NFTs.

ALICE is the in-game currency, allowing players to buy items, NFT, and compete in different competitions. ALICE is also used to stake and receive rewards, as well as participate in the community’s governance. 

My Neighbor Alice’s investment round attracted the participation of many notable funding ventures such as Kyros Ventures, Coin98 Ventures, Asymm Ventures, Augment Ventures, Btx capital, Rarestone Capital and X21 Digital. Other prominent investors that need to be mentioned are Neo Global Capital, Bitscale Capital, Genesis Block. In addition, the project also has the participation of many angel investors such as Arpa and Bella protocol co-founder Felix Xu and Ankr co-founder Ryan Fang.

ALICE will be the 18th project to be launched on Binance Launchpool. Users will be able to stake their BNB, BUSD and CHR into separate pools to farm ALICE tokens over 30 days, with farming starting from 2021-03-10 00:00 AM (UTC).

ALICE Launchpool Details:

  • Token Name: My Neighbor Alice (ALICE)
  • Total Token Supply: 100,000,000 ALICE
  • Launchpool token rewards: 3,000,000 ALICE
  • Initial Circulating Supply: 17,400,000 ALICE
  • Smart Contract Address: ALICE (ERC-20); ALICE (BEP-20)
  • Staking Terms: No upper limit. No KYC required

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About Kyros Ventures 

Kyros Ventures is the investment branch of Coin68 Media, the leading cryptocurrency entity in Vietnam. Specializing in incubation and investment, Kyros Ventures is the gateway for international cryptocurrency projects to enter the Vietnamese market, helping them to achieve greater awareness and adoption thanks to its extensive network of partners and communities.

For further information, please visit: https://kyros.ventures

About My Neighbor Alice

My Neighbor Alice is a multiplayer builder-game by Antler Interactive where players build their own virtual lands, interact with neighbors, perform exciting daily activities and earn rewards.

Players can design and decorate their lands with different in-game items, or NFTs. These are represented as plants, flowers, trees, buildings or animals, among other things. They also get to experiment with the landscape and use innovative in-game tools, such as an NFT Creator and a Game Builder to make their game experience as unique and special as they want.

For further information, please visit: MyNeighborAlice.com

Kyros Ventures announces a strategic partnership with Unido (UDO) enterprise platform

Kyros Ventures, a prominent incubator of international cryptocurrency and decentralized finance (DeFi) projects in Vietnam, has invested in Unido’s Seed Sale Round and will assist the promising project in terms of community building, spreading brand awareness and localization.

Crypto-native enterprises and asset management firms often struggle to access DeFi and manage their crypto assets effectively due to severe limitations in security, governance and accessibility. Unido addresses these issues, enabling enterprises to securely access DeFi opportunities and seamlessly manage their crypto banking operations.

Furthermore, Unido is already developed with multiple active pilots running at a number of digital banks. Its main features are underpinned by Unido Core, a proprietary key management and transaction signing technology developed in 2017. These features include the centralized dashboard, DeFi vault, and crypto banking.

Unido’s token-powered ecosystem ensures value capture, whereby the UDO token is integrated in order to capture value across all products leveraging Unido Core technology.

Kyros Ventures has recognized the significance of Unido’s quest to build an enterprise platform for decentralized capital markets and has decided to support the project with its development as it works toward facilitating the management of crypto assets.

Dr Stan Nedic, Head of Research at Kyros Ventures, shared his views on Unido:

“Mass adoption of cryptocurrencies will partly rely on the ability of crypto-native enterprises and asset managers to seamlessly manage their digital assets, allowing them access to both DeFi opportunities and crypto banking management tools without limitations in security and governance. At Kyros Ventures, we see Unido’s solution as a significant enabler in this space, bringing a positive impact to the entire cryptocurrency ecosystem by addressing these issues. Furthermore, Unido is powered by the prominent Polkadot blockchain and its Polkastarter IDO launch promises to be very successful and immensely popular among the Vietnamese crypto communities.”

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About Kyros Ventures

Kyros Ventures is the investment branch of Coin68 Media, the leading cryptocurrency entity in Vietnam. Specializing in incubation and investment, Kyros Ventures is the gateway for international cryptocurrency projects to enter the Vietnamese market, helping them to achieve greater awareness and adoption thanks to its extensive network of partners and communities.

For further information, please visit: https://kyros.ventures

About Unido

Unido is an enterprise platform for decentralized capital markets, enabling enterprises to seamlessly manage their crypto assets through an enterprise-grade platform with a suite of DeFi and crypto banking management tools. Led by a highly experienced team from Macquarie Bank, Wipro, Coca-Cola, and Goldman Sachs, Unido is the first enterprise-grade asset management platform being built on Polkadot and features native apps, already available in the App Store. Unido is launching its $UDO token via a Polkastarter IDO on March 3, 2021.

For further information, please visit: https://www.unido.us

Kyros Ventures shakes hands with API3, bringing Web 3.0 into the Vietnamese market

Being the conglomerate consisting of many of the largest Vietnamese crypto communities, Kyros Ventures continues to be trusted by many international organizations. Thus, Kyros is excited to be bringing another reputable project into the national market, API3. API3 is a distributed endeavor to create solutions that serve the entire Web 3.0 ecosystem and everyone who would like to build externally connected decentralized applications within it.

API3 is a collaborative effort to build, manage and monetize decentralized APIs (dAPIs) at scale. dAPIs are blockchain-native, decentralized API services built by combining multiple provider-operated oracle nodes into aggregated data feeds, without the use of third parties. Furthermore, to achieve a system that is end-to-end decentralized, both dAPIs and the API3 project as a whole will have a completely open and direct governance model from the beginning, powered by the API3 token and the API3 DAO.

At the heart of the API3 value proposition is bridging the gap between traditional businesses off-chain (Web 2.0) and the ever-growing ecosystem of businesses and projects in the blockchain space (Web 3.0). 

Recognizing the importance of the Web 3.0 development, Kyros and API3 share the same vision to create applications and infrastructure that enable developers, while at the same time, breakthrough to reach a more mainstream set of users. Kyros will be supporting API3 on educating users on this new advanced technology and looking forward to expanding API3 presence in Vietnam as the solution for the Web 3.0 revolution. 

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About Kyros Ventures 

Kyros Ventures is the investment branch of Coin68 Media, the leading cryptocurrency entity in Vietnam. Specializing in incubation and investment, Kyros Ventures is the gateway for international cryptocurrency projects to enter the Vietnamese market, helping them to achieve greater awareness and adoption thanks to its extensive network of partners and communities.

For further information, please visit: https://kyros.ventures

About API3

API3 builds decentrally governed and quantifiably secure data feeds that power Web 3.0 applications without employing third-party intermediaries. Powered by Airnode-enabled first-party oracles, API3’s dAPI’s are fully decentralized and blockchain-native APIs with quantifiable security.

For further information, please visit: https://api3.org

Kyros Ventures successfully invested in Blank’s $1.8M Private Sale Round

Kyros investment in Blank

Kyros Ventures took part in Blank‘s $1.8M Private Sale Round along with many other big names in the field like X21 Digital, SevenX, Spark Digital Capital, GBV Capital, and Woodstock. 

Congratulations Blank on this impressive result! 

Details of the Private Sale:

  • Private Sale Token Allocation — 35,000,000 BLANK
  • Total Token Supply — 125,000,000 BLANK
  • Whitelist allocation request — 68x the maximum capacity

The nature of public blockchain technology allows anyone to trace and verify transactions publicly, thus risking exposing users’ identities. Blank hides users’ financial data by mixing transfers with the pool of funds within Blank, ensuring that outward transfers remain anonymous. Therefore, the privacy level only goes up with each additional transfer inside.

Agreeing with Blank’s view on the importance of privacy within the blockchain ecosystem, Kyros Ventures decided to support this new project with its development. We believe in the potential of the BLANK token as it expands the privacy integration, helping users get a better sense of safety on the blockchain. 

Thuat Nguyen, CEO of Kyros Ventures, said:

“Pursuing privacy among blockchain transactions has always been one of Kyros’s major interests. Once you connect to your crypto wallet, your information is exposed, including that on the decentralized apps you used, the transfers you made, and the amount of crypto you hold in your account. Kyros has a positive outlook on Blank’s solution to protect users’ privacy, therefore, boosting its true potential among the Vietnamese crypto communities. Kyros investment in BLANK is just the beginning of many more collaborations to come!

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About Kyros Ventures 

Kyros Ventures is the investment branch of Coin68 Media, the leading cryptocurrency entity in Vietnam. Specializing in incubation and investment, Kyros Ventures is the gateway for international cryptocurrency projects to enter the Vietnamese market, helping them to achieve greater awareness and adoption thanks to its extensive network of partners and communities.

For further information, please visit: https://kyros.ventures

About Blank

Blank is the most private, non-custodial Ethereum browser extension wallet.

Blank allows the user to easily interact with privacy smart contracts on Ethereum to hide the amounts and the origins of cryptocurrency held, in a decentralized, non-custodial, and frictionless manner.

Blank solves the problem of privacy in crypto transactions. Each time you want to make a withdrawal, Blank will create a new wallet address for you with the amount of crypto that you requested. This address originates from the smart contract where everyone’s funds are pooled. All of this is achieved using cryptographic proofs to ensure that the user cannot be linked with the original depositing address.

For further information, please visit: https://www.goblank.io

Kyros Ventures partners with APYSwap (APYS)

Kyros Ventures, the rising incubator of cryptocurrency and decentralized finance (DeFi) projects, has completed its investment into APYSwap, a new protocol for the efficient and easy yield farming and liquidity provision for digital assets between multiple blockchains.

APYSwap is a protocol for the decentralized multi-chain exchange of shares of its Tokenized Vaults. The project implements a delegation function for user assets and provides a marketplace for financial assets trading. APYSwap allows users on multiple blockchains (initially Ethereum, Polkadot and Binance Smart Chain) to create and control their native blockchain vaults and transfer the ownership to third parties. By supporting multiple DeFi protocols, it offers a simple and effective user experience for selecting asset management options.

APYSwap consists of three layers: APYSwap Vault Contracts – the protocol and smart contracts, APYSwap Marketplace – the layer 2 aggregation marketplace, and APY Mask –  a Metamask-style web wallet for end users. 

To fuel its system, the project utilizes a native currency called the APYSwap token (APYS), which also serves as a governance token and can be used for trading fee reduction and pool insurance.

Staying true to our mission of supporting new and innovative solutions in the DeFi space, Kyros Ventures has entered into a partnership with APYSwap after seeing the project’s vision and potential impacts to the crypto ecosystem. In addition to financial assistance, APYSwap can take advantage of Kyros’s resources, insights and connections in various crypto communities around the world to further the development of its platform to better suit the needs of the market.

Jenny Nguyen, COO of Kyros Ventures, commented on the partnership:

“Via its new approach to yield farming and asset management between multiple blockchains, including Ethereum, Polkadot and Binance Smart Chain, we see that APYSwap has realized what the market is currently looking for and built up its own solutions. We have no doubt that with our support, APYSwap will be able to successfully deploy their products and quickly form a user base of crypto participants from all over the world.”

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About Kyros Ventures

Kyros Ventures is the investment branch of Coin68 Media, the leading cryptocurrency entity in Vietnam. Specializing in incubation and investment, Kyros Ventures is the gateway for international cryptocurrency projects to enter the Vietnamese market, helping them to achieve greater awareness and adoption thanks to its extensive network of partners and communities.

For further information, please visit: https://kyros.ventures

About APYSwap

APYSwap is a protocol for the decentralized exchange of shares of Tokenized Vaults. Through the creation of a Layer 2 blockchain, users can trustlessly swap accounts and assets from multiple Layer 1 blockchains, i.e. Ethereum, Polkadot and Binance Smart Chain. APYSwap simplifies yield farming and reduces its costs for users, without sacrificing decentralization or self-custody.

For further information, please visit: https://apyswap.com

Kyros Infographic: Vietnam Blockchain & Crypto Map

Vietnam has marked itself as one of the most potential lands for crypto development, with achievements from not only international investments but also local entities. With the start of 2021, Kyros Ventures would like to showcase the Vietnamese Crypto Map, presenting the overall crypto ecosystem that Vietnam has built up over the past years. This map will guide you through the Vietnamese Blockchain & Crypto landscape, including the leading faces in fields of exchange, wallet, Dapps & DeFi, Stablecoin, Media, and so on.

Vietnam Blockchain & Crypto Map, presented by Coin68 Media and Kyros Ventures

TomoChain, KardiaChain, Axie Infinity, and Kyber Network are Vietnamese projects that stood out both locally and internationally. Not only did these projects experience growth on their technical side with a full set of new products, but they also attracted a large community of supporters all around the world.

List of the most popular projects in the blockchain and crypto industry in Vietnam, voted by the Coin68 readers.
Source: Vietnam Cryptocurrencies Market Report 2020

International exchanges have been very active in Vietnam, with famous names such as Binance, Huobi, OKex, and FTX. Wallet and exchange services developed by Vietnamese (Coin98, FMX) have also marked their footprints with unique product features and an easy-to-use interface. English was no longer a language barrier for those who are enthusiastic about crypto as Vietnamese materials are now available. 

In terms of legislation, Vietnamese laws have banned cryptocurrency as a form of issuance, provision, and payment. Vietnam is currently under the researching phase of different CBDC models, especially using the one from China’s DCEP. However, Stably and VND are 2 Vietnamese projects with high potentials. 

While the government takes careful legal steps, Vietnamese and other users can still learn about blockchain and crypto from formal universities such as RMIT Vietnam, University of Technology, and FuniX, a unit of FPT University.

List of the most favorite trading platforms in Vietnam. Source: Vietnam Cryptocurrencies Market Report 2020

In addition, specialized media channels are becoming a rising trend after the boom in quantity from the peak of 2017. Coin68 is a great example of a reliable source of information, regardless of the market being uptrend or downtrend. Using our expertise and speed in catching up with the latest trends, Coin68 is confident to be your gateway to wider knowledge in blockchain in general. 

More specifically, in the past year, Vietnam is proud to introduce the first generation of crypto investment funds, Kyros Ventures, a venture capital fund developed on the solid foundations of Coin68. The fund has been supported and invested in more than 30 large and small deals, contributing to bringing many quality international projects to Vietnam.

Overall, 2020 has been a very successful year for the blockchain & crypto market in Vietnam. We have a positive look at 2021, the year of the Ox, and look forward to the creation of many more new projects and new aspects to the blockchain industry.

Kyros Ventures leads $1M investment round into crypto derivatives trading platform FMX

Kyros Ventures, the investment branch of Coin68 Media and the leading incubator in crypto in Vietnam, today announced it has completed an investment into FMX, a cryptocurrency derivatives trading platform that aims to simplify and gamify the trading experience of crypto futures, to assist FMX’s entrance into the Vietnamese market and boost the adoption of derivatives trading.

The $1 million investment round in both equity and FMX’s native token FMT was led by Kyros Ventures, with the participation of Coin98 Ventures, the newly formed investment arm of Coin98 Finance. This investment marks Kyros’ long-term stake in the development of the FMX platform to encourage the adoption of crypto futures trading.

FMX is a cryptocurrency derivatives trading platform, specializing in futures contracts. Realizing that the crypto derivatives market, although very potential, but is still very risky, complex and lacks the necessary tools to support and incentivize traders, the team behind FMX has developed their own solutions to tackle these challenges. With the slogan “Futures trading made simple”, FMX’s mission is to make futures trading easy and accessible to everyone, promising success to all participants. To achieve this, FMX will focus on improving users’ experience on the platform by implementing a simplified and intuitive UX/UI design, demonstrating to users that futures contracts can also be exchanged with relative ease just as spot trading, not to mention even more fun and rewarding thanks to the gamified activities and uniquely designed trading competitions.

To power its platform, FMX will issue a native utility token named FMT, a Solana-based token with limited supply that can be used to earn exclusive privileges and participate in volume mining activities on the platform.

Jenny Nguyen, COO of Kyros Ventures, explained:

“Realizing the disruptiveness of FMX’s solutions and in order to back its expansion into the Vietnamese market, Kyros Ventures will invest in FMX’s equity to provide financial assistance to the platform and align the interests of the two parties in developing the nascent crypto derivatives landscape. Besides, Kyros Ventures will help establish FMX’s foothold and awareness in the Vietnamese crypto communities. Furthermore, Kyros Ventures will explore other collaborations between FMX and crypto organizations in Vietnam.”

Thuat Nguyen, CEO of Kyros Ventures, said:

“We are extremely impressed by FMX’s achievements since its launch. FMX’s suite of futures trading products is a necessary complement to the current crypto market, which will make it easier for ordinary traders to participate in this segment. Kyros Ventures expects that through this strategic investment, FMX’s innovative solutions in futures trading will soon see mass adoption by Vietnamese traders, thus demonstrating the full potential and ushering in a new age for crypto derivatives, especially during the uptrend period that we are witnessing.”

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About Kyros Ventures

Kyros Ventures is the investment branch of Coin68 Media, the leading cryptocurrency entity in Vietnam. Specializing in incubation and investment, Kyros Ventures is the gateway for international cryptocurrency projects to enter the Vietnamese market, helping them to achieve greater awareness and adoption thanks to its extensive network of partners and communities.

For further information, please visit: https://kyros.ventures

About FMX

FMX is a cryptocurrency derivatives trading platform that aims to solve the current shortcomings of current trading platforms by simplifying and gamifying the trading experience of crypto futures to encourage mass adoption and promise success to all who participate in its platform. FMX has its own utility token called FMT, which is a Solana-based token that offers holders with exclusive rights and can be used for volume mining.

For further information, please visit: https://fmx.trade

6 highlights of the Vietnam Crypto Market in 2020

Vietnam is one of the most dynamic cryptocurrency markets in the world. To get here today, we have overcome many difficulties together. For the first time in history, Kyros Ventures and Coin68 are proud to introduce to the crypto community, the “Vietnam Cryptocurrency Market 2020” report. This document includes collective market insights, Vietnamese investors’ perspectives on many issues that we gathered through a survey conducted at the end of 2020. Let’s take a look at the 6 main points of the report. 

Vietnam Crypto Market

It will not be strange if you will find that crypto advertising in Vietnam is the image of a successful businessman with a luxury car, a penthouse. Men under 35 years old are the biggest participants in the Vietnamese crypto market. Other features include:

  • The two big cities, Ho Chi Minh City and Hanoi, have the highest concentration of interest for crypto, with 43% and 27% of the total number of respondents respectively.
  • In addition, nearly a quarter of respondents were engaged in crypto part-time, along with their other major jobs.
  • More than a quarter of respondents say they have a basic understanding of crypto but need guidance when exploring new products/trends.
  • The most common channel to acquire knowledge voted by the community is the reputable cryptocurrency news portals like Coin68.com.

Trading Behavior

Coin68 observes that the longer a person participates in crypto, the more likely it is to trade the longer term and the more confident they are to use more products. This is in contrast to newbies. But whether you are new or experienced, one piece of advice you will often hear is:

“You don’t trade margin, you lose. You trade margin, you lose x2.”

Perhaps that is why the most popular crypto product is Spot trading.

In Vietnam, there is an exchange that is leading in all 3 categories: Favorite Spot Trading Product, Favorite Derivative Product, and Favorite P2P/OTC Trading Product.

Portfolio Preference

More than 90% of respondents said they want to remain or increase the proportion of crypto in their portfolios for 2021 compared to the previous year. This is especially true for groups with a low crypto allocation of 50% or less.

The report also specifies the most common annual earnings of crypto-participants, along with their expectations for crypto return 10%, 30%, or x2 account this year.

Community View on Bitcoin

When the survey took place from mid to late December 2020, Bitcoin’s price fluctuated between $19k1 – $26k5. Our market report states that the community has little expectation of Bitcoin’s price reaching $ 40k in less than a month from the survey. In fact, most expect BTC to be between $16k – $20k in Q1/2021.

  • No one is expecting BTC to reach $50k, whether in the next 3 or 12 months.
  • The majority believes that Bitcoin will replace gold.
  • This confidence increases over a longer timespan, as the market grows stronger.
  • The paper reports the top 3 candidates voted by the community to threaten Bitcoin’s current leading position.

Perspectives on Altcoin

DeFi marks a brilliant 2020 year, occupying the top trends thanks to DeFi yield farming and liquidity swaps. However, the most expected trend in 2021 is Games on Blockchain and Non-fungible tokens (NFTs). The prominent views on Altcoin are summarized as follows:

  • More than 70% expect Altcoin 2021 season to take place.
  • Large-cap altcoins are expected to moon the most next year (but there are some surprises).
  • Uniswap dominates the Vietnam DeFi market, while other DeFi tokens still have windows of opportunity to challenge the lead.

Projects from Vietnam

The Vietnamese crypto community has voted according to 3 categories: Top 5 most popular projects, Top 5 projects with the best awareness, and Top 5 most used products.

As a result, only 6 names to be announced. Wonder what are the best Vietnam projects? Download your copy of the official report file.

On behalf of the research team of Kyros Ventures and Coin68, we’d like to thank all of you who have been supporting us from the very beginning. Sincerely send you and the crypto community the Vietnam crypto market 2020 report, as a tribute to all. We shall see you in the next report.

Certik – Provable Trust for All

Project Summary

  • CertiK was founded in December 2017 by acclaimed computer science professors. The company specializes in developing cutting-edge security solutions for blockchains, dApps and software applications. CertiK has serviced more than 100 clients and secured over $18B worth of digital assets with high-quality auditing and consulting services, ranging from stablecoins such as Binance’s BGBP and Paxos Gold to decentralized oracles such as Band Protocol and Tellor and well-established DeFi protocols including Aave and Ampleforth.
  • The CertiK Foundation is a nonprofit, research-driven organization with the mission to empower people to trust the blockchain technology. The foundation launched CertiK Chain in late 2019.
  • CertiK Chain is a cross-chain protocol designed to ensure the security and reliability of blockchain infrastructure and decentralized applications built on top of it. CertiK Chain is able to achieve this with native in-chain features including Security Oracle, CertiKShield Reimbursement Pool, a secure programming language – DeepSEA, and a hacker-resistant OS kernel – CertiKOS (Figure 1).
  • The project launched on October 27 2020 on the Binance Launchpad. According to Binance Research, the project raised 39.4M USD from two rounds of private token sales, where 38.00% of the CTK total token supply has been sold at 0.77 USD/CTK and 1.90 USD/CTK.
Figure 1:  CertiK Chain components’ mapping (Source: CertiK Chain Whitepaper)

Main Features of CertiK

For economics and performance, CertiK Chain uses a Delegated Proof-of-Stake (DPoS) consensus protocol. For accessibility, CertiK Chain is built with the inter-chain friendly Cosmos framework and is fully compatible with the Ethereum Virtual Machine. The CertiK Chain leverages and provides the safest infrastructure for the blockchain ecosystem, including the CertiK Virtual Machine, CertiKOS, and DeepSEA programming language. A blockchain can fulfill its promise of a fairer, safer, and more transparent system only with verified layers.

– CertiK Security Oracle

CertiK Security Oracle aims to enable users to assess the risk of a DeFi protocol/smart contract in real-time before interacting with it. The oracle retrieves a set of security scores from a decentralized network of security operators which assess the reliability and security of the source code, and compete to earn $CTK (Figure 2). Security scores are displayed on a scale of 1 to 100 enabling users to assess smart contract risk at a glance.

The CertiK Security Oracle makes audit reports available on-chain and decentralizes security intelligence from a handful of security auditors to the entire blockchain community to be accessible on-chain upon demand.

Figure 2: CertiKShield status (Source: CertiK Foundation)

– CertiKShield Pool

This is a decentralized pool of CTK that is used to reimburse lost, stolen or inaccessible crypto assets from any blockchain. As a member, if your funds have been stolen, you can submit a detailed request for reimbursement. The rest of the members vote on your request, and if it is deemed to be legitimate and appropriate for reimbursement, you’ll get paid back.

CertiKShield Pools consist of Collateral Providers and Shield Purchasers. Collateral Providers receive staking rewards for staking CTK in the CertiKShield Pool, while also collecting a portion of the fees paid by Shield Purchasers, as depicted in Figure 3. The cost of reserving funds from the CertiKShield Pool for personal reimbursement of lost assets will be directly tied to the CertiK Security Oracle score, with lower scores (which represent more risk) requiring higher fees for protection.

Figure 3: CertiKShield pool mapping (Source: CertiK Foundation)

– CertiK Virtual Machine (CVM) is built to support a security-first blockchain and enable security intelligence to become an on-chain, expressible value. The CVM is unprecedented in its ability to empower users to access, check, and dynamically establish blockchain and smart contract security. It is fully compatible with the Ethereum Virtual Machine (EVM).

– DeepSEA is a security-first programming language and a compiler toolbox that is fully compatible with CertiK Chain’s virtual machine, along with Ethereum WebAssembly and Ant Financial’s AntChain. The DeepSEA toolchain was developed by the CertiK team with support from the Ethereum Foundation, Columbia-IBM, Yale University and the Qtum Foundation.

– CertiKOS is an operating system kernel originally developed at Yale University, receiving international acclaim as the world’s first “hacker-resistant” OS kernel. It was the subject of five papers published at top computer science conferences from 2015-2020. CertiKOS is the bedrock for the security infrastructure of CertiK Chain, and plays a pivotal role in running CertiK Chain nodes and the CertiK Security Oracle.

– CertiK QuickScan can be used to secure the Binance Smart Chain smart contracts; this is a lightweight, yet powerful scanning system that can complete a smart contract auditing process within 15 minutes. The CertiK QuickScan uses automated scanning technologies to analyze a wide range of known security vulnerabilities at scale. Once finished, the scanned smart contract will receive a score broadcasted through the Security Oracle network via CertiK-maintained oracle operators.

CertiK Foundation Ecosystem

  • Development partners include Ethereum Foundation, Columbia-IBM and the Qtum Foundation
  • Leading exchanges including Binance, Huobi, Liquid and Coinone have chosen to partner with CertiK’s expertise to audit blockchain projects before allowing them to list on their exchanges
  • Research partners include Yale University and Columbia University

A more exhaustive list of CertiK’s notable clients and partners includes Hyundai, Ant Financial, yearn.finance, Ampleforth, AAVE, Band Protocol, Binance Coin, Bitcoin.com, Crypto.com, Kava, Terra, ThorChain, ICON, Matic, Swipe, Reserve, Paxos, TrueUSD, Universal Protocol and hundreds of other projects.

Figure 4: CertiK ecosystem

CTK Token Distribution

CTK token specifications are as follows:

  • Initial valuation / market cap (MC): $27M
  • Total supply (TS): 100,183,153 CTK
  • Initial circulating supply (CS): 23,796,787 CTK (23.75% of total supply)
  • Detailed token distribution as illustrated in Figure 5

CTK is the native utility token of the CertiK platform. The token utility includes:

  • Gas consumption for smart contract operations
  • Shield purchases for insurance against hacks, theft and code malfunction
  • Payments for real-time Security Oracle audit requests
  • Staking for network consensus and hosting validator nodes
  • Rewards for participating in the Security Oracle network and providing real-time security analysis
  • Collateral and reimbursements for providing collateral to the CertiKShield pool
  • Community voting for decentralized network governance

CTK token has been allocated to two Private Sale rounds. The first Private Sale round sold 29M CTK at 0.77 USD/CTK raising USD $22.33M, while the second Private Sale round sold 9M CTK at 1.90 USD/CTK raising USD $17.1M.

Figure 5: CTK token distribution (Source – Binance Research)

Comparable Projects

Within the blockchain industry’s security sector, CertiK, Quantstamp and OpenZeppelin are considered the three most prominent companies with an excellent track record of auditing top-notch clients worldwide. Among the three projects, OpenZeppelin was founded the earliest (2015 vs 2017), focusing on an open-source library besides security auditing. However, it was left behind in the smart contract security race when CertiK pioneered its automatic auditing tool, and Quantstamp followed shortly. Moreover, only CertiK and Quantstamp have their own token. Thus, in this report, we cover a comparison between CertiK and Quantstamp.

As demonstrated in Figure 6, we observe that CertiK outperforms Quantstamp with better metrics in audited assets despite a smaller client pool. CertiK’s excellent performance also resulted in higher stakeholders’ confidence, vividly depicted by the higher funding and market cap.

Figure 6: Comparison between CertiK and Quantstamp

Upcoming News and Development Progress

CertiK chain mainnet has been launched on Oct 24 2020. The team is working to launch CertiKShield Pools with existing clients as well as integrate with major protocols to provide on-chain security through the Security Oracle mechanism. Furthermore, CertiK team has released CertiKShield yield farming to reward collateral providers with CTK. We expect the team to continue the momentum and add more projects to CertiK’s portfolio. Besides, CertiK will focus on community building in China, South Korea, North America and Europe.

CTK token is fully released for 2 out of 7 allocations i.e. Private Sale 2 and CertiKShield Pool. The rest will be distributed gradually until August 2023. Details for the CTK release schedule are illustrated in Figure 7.

Figure 7: CTK token release schedule (Source: Binance Research)

Reasons to be Bullish

  • Centre of expertise: CertiK Chain brings some of the world’s brightest minds in computer science to solve a painful issue in DeFi – security of unaudited contracts. In DeFi it has become increasingly popular for unaudited smart contracts to be released pseudo-anonymously and the community to interact with them in the hunt for lucrative financial rewards. These contracts often go unaudited because it has normally been seen as the responsibility of the contract developers to seek audits, but in many cases the developers seek not to. The CertiK Security Oracle decentralizes the responsibility of conducting security analysis and instead gives the power to the people to request security intelligence themselves.
  • Emerging DeFi security risk: With over $1.4B of crypto stolen in the first 5 months of 2020 alone, a CertiKShield membership is a wise step in the right direction for individuals and projects involved in the DeFi space.
  • Reputation and a supportive ecosystem: A highly active community with the growth campaign including regular technical updates and education sessions via blog posts, online and face-to-face product education sessions, and social media engagement

Factors to Watch

  • Competitors: ‍Various types of decentralized applications and networks are emerging at a rapid rate, and the industry is increasingly competitive. It is possible that alternative networks could be established that utilize the same or similar code and protocol underlying CTK and/or the CertiK Platform and attempt to re-create similar facilities. The CertiK Platform may have to compete with these alternative networks, which could negatively impact CTK and/or the CertiK Platform.
  • Loss of talent: ‍The development of the CertiK Platform greatly depends on the continued co-operation of the existing technical team and expert consultants, who are highly knowledgeable and experienced in their respective sectors. The loss of any member may adversely affect the CertiK Platform or its future development. Further, stability and cohesion within the team is critical to the overall development of the CertiK Platform. There is the possibility that conflict within the team and/or departure of core personnel may occur, thus negatively influencing the project in the future.

Executive Summary

Projection Milestones

Note: This projection evaluation method considers both the CTK token price and the CTK circulating supply as variables. This is an accurate representation since both are subject to change over time.

  • At the time of writing, the circulating supply (CS) is 23.8M CTK, and the market cap (MC) reaches $27M. The token’s initial price on Binance Launchpool was $0.77/CTK. At the time of writing, the token price had passed the $1.13 mark.
  • CertiK is expected to carry on its market leader’s advantage by expanding its product suite and industry network. CTK CS will be around 50M CTK in August 2021, and CTK may reach the Top 100 ranking at CoinMarketCap.
  • At full token release, the CS will be around 100.18 million CTK. CTK token price may potentially reach $5 per token, giving it a circulating market cap exceeding $500M.

Finally, Figure 8 presents the different possible scenarios determining the potential CTK market cap and the associated return on investment (ROI) in the future.

Figure 8: Future CTK market cap projection

Concluding Remarks

The CertiK’s Security Oracle and Shield Pool are necessary in the DeFi space. The Kyros research team expects CertiK to continue to grow as the leader in the smart contract audit niche. Furthermore, we are bullish on this project, and we believe that the crypto enthusiasts and investors alike will also be able to foresee its potential. 

Taking into account CertiK’s favorable metrics versus comparable projects i.e. Quantstamp, we would be extremely surprised to see this token stay under $2 within the first half of 2021.

Due to the volatile nature of the crypto markets, short term price estimates are difficult to establish. We, however, expect to see the CTK token price soar to $2.8 – $4 in the mid-to-long term, giving it a circulating market cap in the vicinity of $330M. 

Even higher token price milestones are feasible in the long term, our most bullish prediction envisaging CTK potentially reaching $4.5 – $5.5 in the future. Taking into account that CTK has the market leader advantage in the blockchain security industry, it will probably remain a force to be reckoned with.

Kyros Ventures joins Royale Finance’s $350,000 seed round

Kyros Ventures, the conglomerate consisting of many of the largest Vietnamese crypto communities, had participated in the $350,000 seed round of Royale Finance, a DeFi protocol building a trustless ecosystem where iGaming platforms borrow capital to fund their bankroll.

Royale Finance is the latest project to apply the use of blockchain technology in the centralized internet gambling (iGaming) sector, even taking it to a whole new level by combining it with decentralized finance (DeFi) solutions to create what they called ‘iGDeFi’. The team behind the project believes that the current iGaming industry, which is projected to worth 127 billion USD by 2027, still holds much potential that can be unlocked with the help of blockchain and DeFi.

In essence, Royale Finance is a Web 3.0 platform that will provide liquidity to iGaming developers through the use of smart contracts, meanwhile secure their innovations with the transparency and immutability nature of blockchain. Royale plans to disrupt the iGaming industry by helping entrepreneurs to fund their bankroll via a network of participants rewarded to provide capital. The fund then can be used to bootstrap the network, lend capital to the first users, and continue the development of the project. With the integration of a self-governing DAO protocol, open-source smart contracts and algorithms, a fair distribution mechanism for users, and shared liquidity pools to lower entry barriers, Royale Finance will guarantee the highest possible benefits for both projects and users coming to their platform.

Sharing the same vision as Royale Finance in increasing the adoption of blockchain technology in all aspects of life as a whole and in the iGaming industry in particular, Kyros Ventures had joined Royale Finance’s $350,000 seed round with other well-known incubators, including Alphabit, Fomocraft Ventures, and Vendetta Capital. The funds will be utilized to achieve Royale’s roadmap goals in Q4 2020 and Q1 2021, such as deploy smart contracts to provide liquidity for iGaming businesses and retrieve collaterals, reward users via DeFi money market and AMM protocols and distribute ROYA governance token.

On top of that, Kyros Ventures will assist Royale Finance in expansion into the Vietnam market and surrounding regions. In specific, Kyros will leverage our deep knowledge and understanding of the Vietnamese crypto communities to introduce Royale’s innovations in iGDeFi to local investors and traders. Kyros will also explore other collaboration opportunities between Royale Finance and our network of partners both domestically and abroad.

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About Kyros Ventures

Kyros Ventures is a conglomerate of four of the largest crypto communities in Vietnam: Coin98, Tradecoin Vietnam, HC Capital, and Coin68, which collectively have more than 100,000 active traders. Kyros Ventures is the gateway for international cryptocurrency projects to enter into the Vietnamese market. We aim to help projects achieve greater awareness and adoption thanks to our extensive network of partners and communities.

For further information, please visit: https://kyros.ventures

About Royale Finance

Royale Finance is an iGaming DeFi protocol seeking to build a trustless ecosystem where iGaming platforms can access liquidity for their bankroll requirements. Royale’s user-centric platform creates Web 3.0 smart contracts-backed liquidity that allows iGaming entrepreneurs to bootstrap innovation with the security and transparency of the blockchain. 

For further information, please visit: https://royale.finance