Airdrops / Farming
Airdrops are activity-based: trade consistency for probability
How to read: Check eligibility logic (volume / frequency / time-weighted / LP) first, then compute cost.
Metrics: active days/week, valid interactions, volume or LP-days, net cost (gas + slippage).
DePIN
From narrative to measurable service
How to read: Ask “what service is delivered” (compute / wireless / storage / data), then inspect verification.
Metrics: utilization, paid usage, proof-of-service quality, repeat purchase/retention.
ZK
Make “trust” visible as a traceable link
How to read: Where is evidence, how is proof generated, and who verifies it?
Metrics: proving cost/latency, verification overhead, failure rate, auditability.
RWA
Don’t sell “real world”—sell auditable cashflows
How to read: Who owns the asset, where does yield come from, and how do custody/audits work?
Metrics: audit cadence, NAV/collateral ratio, default rate, yield-source transparency.
DeFi / L2
Product era: experience beats slogans
How to read: Treat the chain as an execution environment; evaluate UI, routing, clearing, and fees end-to-end.
Metrics: TVL, volume, fees/revenue, DAU, failure rate, on/off-ramp friction.
AI Agents
From “smart” to settlement: rails for agent commerce
How to read: Identity (registry) + payments (stablecoins/micropayments) + workflows (APIs/tooling).
Metrics: call volume, settlement frequency, failure rate, composability, cost (per 1k requests).
Interchain
Cross-chain isn’t a feature—it’s default
How to read: Path, rollback, settlement time & fees—does it feel “as easy as a transfer”?
Metrics: success rate, avg settlement time, total fees, supported chains, support/appeal path.
Community Proof
Turn hype into evidence: numbers that show community momentum
How to read: Skip “screenshot hype”. Show verifiable numbers: follows/growth, online users, content output, participation conversion.
Metrics: X follower growth, Discord online peak, UGC count, campaign conversion (Join → participate).