GEM English is called “Gem”. In the currency circle, some high -quality DEFI projects with low market value and early days, especially many encrypted KOL and large V on Twitter are keen to discover some high -quality early projects on UNI and Cake, but The domestic currency circle community has less coverage of this content, and the domestic single speculation atmosphere is more serious. Therefore, this series wants to introduce and sort out some high -quality early DEFI early projects. In order to increase the number of output Within 1,000 words, no in -depth excavation is for your own investment records and reference!
In addition, risk reminder: All the articles written by Friman have subjective opinions, not any financial suggestion. It may be partially related to the project. It is very risky and it is not recommended to participate in investment without in -depth understanding and research. Dyor!
Regarding Sienna, I comprehensively interpreted Suterusu in the public account: Is it a dark horse in a privacy track or a disabled? It is probably mentioned that this project is a two -layer protocol project on the Secret chain (token SCRT), which is https://sienna.network/. I started to pay attention to this project in March, because its model and concept are very similar to Sutertusu, and the development team’s strength looks good. The positioning is the Layer2 protocol. It is also through the second -level protocol framework. The privacy chain of the Tee node is committed to providing privacy protection for the DEFI project. The following products mainly include Pirvate Swap (this is similar to the Manta Network on Boka). In addition, investment institutions seem more well -known, but they are mainly some second -tier exchanges and domestic investment institutions.
In terms of token issuance, in the early stage, Sienna has IDO through Polkastarter and Dao Maker. The total amount of tokens is 10 million, private offer 5U, DAOMAKER IDO price is 6U, which has been traded on UNI. The recent price has been calling back. At present, about 20u, FDV 200 million U.S. knives. It should be noted that WSIENNA is traded on UNI, because the main network tokens are on the SCRT. According to the roadmap, the ETH bridge, BSC bridge, and Boka Bridge will be created later. In fact, this is similar to Suterusu Bridge. If the overall valuation is concerned, I personally feel a little higher, but from the relative valuation (relative to IDO issuance), there is still a certain space in the future.
In terms of roadmaps and white paper, according to the team’s roadmap and white paper, the current products planned are mainly 3 categories, one is bridge, one is SWAP, and the other is Lend.
Bridge: In fact, the bridge technology here is not so difficult. A mapping contract made by the project party is a special type of Bridge, which is the bridge that is only for its Sienna tokens.
Swap: It is expected to be realized this quarter, but I have a little doubt whether this SWAP can achieve privacy? Or even if you realize privacy, there is a problem with scalability? First of all, Sienna did not use ZK-SNARK technology. The privacy implementation of the bottom layer was mainly achieved through the SNIP-20s of the underlying public chain (maybe the underlying SCRT public chain token with privacy function). I think this DEX comes out. Privacy protection may be limited to SNIP-20 token, and it cannot effectively expand to other public chains.
Lend: According to Sienna’s plan, it is expected to be realized in the third quarter. LEND actually requires privacy protection functions. Large households’ asset -liability structures are extremely privacy in real life.
This note is sorted out while watching the project. It is only used as his own research records and does not make any investment advice. If you are interested in privacy protection, you can read my previous article about Suterusu. On the whole, I think that from technical strength, roadmap, and track mode, Sienna is inferior to Suterusu.