Research Summary

The report discusses Coinbase founder Brian Armstrong’s top 10 focus areas in the crypto entrepreneurial space. These include Flatcoin, Onchain Reputation, Onchain Ads, Onchain Capital Formation, Job/Task Marketplace, Layer 2 Privacy, P2P Exchange Fully Onchain, Onchain Games, Real-World Asset Tokenization (RWA), and Tools for Network States. The report also highlights representative projects in each area, their progress, financing, on-chain data, and social attention.

Key Takeaways


  • Nuon Finance: A decentralized stablecoin DeFi protocol built on Arbitrum. It launched NUON, the first decentralized flatcoin, whose price fluctuates according to the inflation rate.
  • Ampleforth — SPOT Protocol: A decentralized flatcoin launched by the DeFi protocol Ampleforth Foundation, using senior AMPL tranches as collateral.

Onchain Reputation

  • Galex: A Web3 data credential and reputation network. Users earn rewards by contributing to Galex’s credential data network.
  • zkMe: Aims to build a zk-credential (Zero-Knowledge Credential) layer for Web3, providing on-chain anonymous user verification.

Onchain Ads

  • Spindl: A Web3 measurement and attribution platform that helps identify the origins of users and what they have done on chain protocols.
  • HypeLab: A Web3 advertising network that provides one-stop advertising materials and tracks advertising performance in real-time.

Onchain Capital Formation

  • Syndicate: A decentralized investment protocol and social network, enabling communities to raise and invest capital in a simpler form.
  • Commonwealth: An integrated platform that provides governance discussions, voting, and crowdfunding for on-chain communities.

Actionable Insights

  • Investigate the Potential of Flatcoin: With the rise of decentralized stablecoins like NUON and SPOT, there’s potential for growth in this area.
  • Explore Onchain Reputation: Projects like Galex and zkMe are pioneering the field of onchain reputation, which could be a significant trend in the future.
  • Consider Onchain Ads: The development of platforms like Spindl and HypeLab indicates a growing interest in onchain advertising.
  • Assess Onchain Capital Formation: The success of platforms like Syndicate and Commonwealth suggests that onchain capital formation could be a lucrative area to explore.

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