Raccoon’s Nest 🦝 3 — Season’s Upon Us!
Hello everybody, welcome back to the Raccoon’s Nest — our exploratory article series, setting out to find potential gems in the making. Seems like the bull-market doesn’t care for ice and snow, so jump on board our Raccoon Icebreaker while we take a look at two projects that have the potential to melt ice..
PowerKee - $KEE
The first project we’re gonna look at today has some very interesting ideas on how to improve one of the big crypto niches — privacy transactions.
Now, of course, when we talk about, let’s say, $ETH, the best one can hope is pseudo-anonymity native to the blockchain or use of third-party solutions. If you want to go completely “dark”, you need a privacy coin, and that’s what $KEE is.
The question is, what makes $KEE a better choice than any of the other privacy coins out there and how will it cope with established competitors?
According to their documentation, the team is building on Zerocoin Protocol tech, adopting it to include zKEE, which enables fast and private transactions of the native KEE token using a mixture of coin mixing and zero-knowledge proofs. They also claim to have managed to reduce spend transaction sizes by 25% compared to other solutions (and working on improving that) and promise fast transaction times (we’re talking seconds). Oh, and it’s a dPoS chain, with rewards for masternode operators, for you passive income lovers out there.
My good friend The DeFi Naut came up with a thread on them the other day, I’d recommend checking it out for a TL/DR and for those that want to get their hands dirty, there is a Technical Paper that goes into detail on the chain mechanics and principles.
You can find their (quickly growing) TG community here.
Here’s the trick though: at the moment, there is no way to buy $KEE.
The KEE seed sale was a $125k raise at $0.025 (for 5M tokens). Private sale raised $437,500 from 12.5M tokens, which would give it a price $0.035 in the private sale. The seed sale saw some
Both of these rounds were closed but the team announced KEE will be listing on two exchanges with a starting market cap of $85k, which is tiny even by DeFi standards. I don’t expect the mcap to stay that for long because of bots, but I’m still keeping my eye on this one come listing day.
Royale - $ROYA
Next on our list is a project you might already be familiar with if you’ve joined for our recent AMA with them - Royale with their $ROYA token.
The first thing I’m going to say is that they are holding their IDO on Polkastarter on the 21st. They are the third project to do so in what has become a pretty prestigious offering platform in a very short amount of time.
The first two IDOs offered on Polkastarter got sold out in seconds and listed to achieve multiplier gains - SpiderDAO going on to do x4 and MantraDAO making it all the way up to x9 from the IDO price. The IDO will offer 2.5M ROYA at $0.12 per token.
The project itself proposes to create an ecosystem based on what they call five pillars of Royale: Network driven liquidity, Industry focused, Optimised and sustainable yield, Honest igaming aggregator and Decentralised Governance. Going back to basics of the DeFi idea, Royale proposes decentralized finance for providing liquidity for various igaming platforms - casinos, betting platforms, prediction platforms, etc. Until now, there have been precious few crypto igaming platforms, but this could change with the creation of the proposed liquidity pools that could help them take their business to the next level - creating revenue for the $ROYA ecosystem in the process.
If you’re interested to learn more about the project, I’d recommend going through their Pitch Deck and joining their official TG channel and for those looking for a TL/DR, we have our man Naut on the task with his thread.
Their platform is set to go live in 1Q2021, and, interestingly, the project has decided to hold off their listing until the 8th of January. This is most likely to do with the listing procedures as the project announced they will be listing on a centralized exchange alongside Uniswap. It remains to be seen how this decision reflects on the short-term performance, as this space moves onward at a terrifying pace, but having sat down with the Royale team, I think the long term performance of this project is beyond speculation.
We’re currently looking at a couple of other projects, and I have a feeling we’ll come back to $ROYA and $KEE soon enough, so you can expect more articles in the Raccoon’s Nest series, and who knows, maybe a Bobby’s Gem Bags article is soon to follow. Until next time, stay safe and join our DeFi Discussion
Now for a disclaimer — I’m not a financial advisor, anything you read on my Medium isn’t financial advice, it’s a log of myself doing due diligence on projects, please verify any and all information presented (error reporting welcome) and make your own decisions.