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Internet Computer Protocol (ICP) Ecosystem

Internet Computer Protocol (ICP) Ecosystem – Rise of the Unicorn

Hệ sinh thái Internet Computer Protocol (ICP) – Sự phát triển của kỳ lân 200 triệu đô

Internet Computer Protocol (ICP) Ecosystem

What is Blockchain ICP?

Internet Computer Protocol(ICP) is one of the Layer 1 platforms, focusing on developing an ecosystem of highly decentralized applications based on the open Internet platform, with no database dependence on any other platform. which server is operated by small computers of validators.

Token ICP

  • MCap & FDV: Uncirculated.
  • Rank: Uncirculated.
  • Prices of ATH, ATL: Not yet circulated.
  • Circulating & Total Supply: Uncirculated & 469,213,710 ICP.
  • List of major exchanges listed: Coinlist.

Blockchain ICP

  • TPS: 10,000.
  • Blocktime: 1.8 bps
  • Total Tx: No information yet.
  • Avg. Tx fee ($): No information yet.
  • Data Centers: 16
  • Nodes: 389
  • Number of Dapps on the platform: 23.
  • Partners: Not announced yet.
  • Backers/Investors: a16z, Polychain, SV Angel, Aspect Ventures, Village Global, Multicoin Capital, Scalar Capital, and Amino Capital, KR1.

Development process: The project includes the following phases:

  • Copper: Dfinity released the first version of ICP, called the DFINITY Canister SDK (V0.3.0). They also released a new programming language specifically for project development on this new platform, using WebAssembly.
  • Bronze: Launched World Economic Forum – the first social networking platform developed on ICP, called LinkedUp (LinkedUp’s open web version). During the same period, several other demo applications were also launched on ICP.
  • Tungsten: This development phase allows developers to participate in building dApps on the ICP platform. The ecosystem of developer infrastructures on the platform is expanding rapidly. Typical activities include the 48-hour Tungsten Hackathon.
  • Sodium: Launched the NNS algorithmic management system, serving the platform management process. Validators who wish to contribute to the security of the platform need to be validated and authorized by this system. NNS also handles the awarding of validators and delegators, thereby putting the ICP token into operation.
  • Mercury: ICP Mainnet Launches. The launch time was first announced by Dfinity in 2018, but pushed back to the end of 2020. Finally, the project announced that it will launch the public mainnet on May 7, 2021.

You can find out more details about Internet Computer Protocol (ICP) Ecosystem here.

ICP Ecosystem Highlights

The Dfinity Foundation has a strong fundraising history: They raised $200 million from 2016 to the end of 2018 in three rounds, with the largest round being worth $102 million. This is one of the most impressive fundraising numbers in the crypto market, even in the period of 2020 – 2021.

The first dApps on ICP launched in Tungsten, when the ICP platform started allowing outside developers to build apps on the blockchain.

Project highlights will continue to be released when ICP launches the mainnet public on May 7. Idolmeta.net will continue to update you guys.

Current situation and roadmap

The project is in the process of preparing to launch the public mainnet.

Currently, Dfinity Foundation is receiving a lot of attention from the community, by the decision to airdrop ICP tokens for participants to buy on Coinlist in 2018.

The project has completed all its roadmap since 2016, and is at the stage of being ready to expand the ecosystem.

Layer 2 and 3 puzzle pieces are gradually appearing, but in my personal opinion, Layer 2 puzzle pieces are still not enough to attract cash flow to Layer 3, so in the near future, cash flow will still be mainly focusing on Layer 2 projects including: Stablecoins, IDO Platform, Infrastructure (Oracle,…).

Fragments of the ICP ecosystem

Overview of ICP ecosystem before mainnet public

Stablecoins

This is an extremely important piece of the puzzle that has yet to appear on the ICP ecosystem.

AMM DEX Liquidity

Currently, a few names have appeared, including: ICPSwap, Tacen, Sailfish. Because the mainnet product and project documents have not been released, it is not possible to evaluate the competitiveness of these 3 puzzle pieces, as well as the shortcomings of the AMM DEX puzzle in the ICP ecosystem.

Oracle

This is an extremely important but missing infrastructure piece in the ICP ecosystem. The ecosystem has not yet integrated with any Oracle projects.

Lending & Borrowing

The only Lending & Borrowing project on ICP currently is Sailfish. The project just released the testnet version, the interface is not good. The Borrowing and Lending segment in the ICP ecosystem still has a lot of room for development.

IDO Platform

The first IDO platform in the ICP ecosystem has appeared – Dfistarter – this is one of the signs that, in the near future, many projects will be launched. Accompanying that is certainly the rapid development of the ICP ecosystem and investment opportunities for you.

Derivatives

On the ICP platform, there are currently no projects dealing with derivatives trading.

Projecting the future of the ICP ecosystem

According to my observations about the order of development in ecosystems, the development of projects will go in order from Layer 1 to Layer 2, then to Layer 3 and Layer 4.

Currently, the platform’s Layer 2 projects are gradually taking shape, the pieces to pay attention to are:

  • Dfistarter: ICP’s IDO platform called Dfistarter has appeared. Although the project itself has not released much information, but when looking through other ecosystems such as Solana, BSC, Cardano, we can see that the launch of the IDO platform on platforms is always meaningful.
  • Enso Finance: An asset management application on ICP: you may be wondering, while the Layer 2 and 3 puzzle pieces are still incomplete, why a Layer 4 puzzle – where the cash flows at the end the same – is again on the list of puzzle pieces that need attention.

So, why do large funds invest in a Layer 4 puzzle but do not anticipate the cash flow in Layer 2 and 3 applications? In my opinion, maybe they have invested in other protocols and projects, but the information has not been released.

Because of this $5 million investment, you can see that the funds are paying great attention to the development of this untouched ecosystem.

You should pay attention to the following names, it is likely that these will be the names you will see again during the “skin in” of the ICP ecosystem: Multicoin Capital, P2P Capital, The Spartan Group, Zola Global, and The LAO.

  • ICPSwap, Tacen and Sailfish: These are all 3 projects with little information, developing DEX protocol (Tacen also develops cross chain wallet application and Sailfish develops Lending application). You should pay attention to these pieces to find investment opportunities in the ICP ecosystem.

Thus, we can fully expect some of the following projections to come true:

  • Stablecoin or Oracle projects will be integrated, or self-developed in the ICP ecosystem.
  • Investment information on other projects on the ICP platform will continue to be published in the future, and it is likely that there will be the above names in the list of investment funds.
  • Projects on derivatives, Liquidity Pool,… (missing pieces) may appear in a row in the near future.

Investment opportunity in the ICP ecosystem

Investment opportunity in the ICP ecosystem

Join IDO with:

  • Missing project groups/pieces: Missing project teams include Oracle, Stablecoins, Liquidity Pool, Derivatives, NFT marketplace, others…
  • In addition, project groups have appeared such as Lending & Borrowing, an asset management application that has not yet had many pieces of the puzzle. New projects in these two areas may appear. Most likely, the tokens of those projects will be IDO on Dfistarter.

Therefore, in the near future, when Dfistarter launches tokens, you can buy tokens at a reasonable price, then use that token to participate in IDOs on this platform.

  • Buy and hold coins of IDO platform: Investing in IDO platform token holding is also one of the investment ways, you can refer.
  • Join farming, staking: Currently, you cannot participate in farming or staking in dApps because those functions have not appeared. You also cannot stake ICP tokens to receive the platform’s transaction fees.

Conclude

The Internet Computer Protocol (ICP) Ecosystem platform is still in its infancy, but will soon expand and develop after the upcoming public mainnet on May 10.

The pieces of the puzzle are very few and sketchy, so investment opportunities are many, especially investing in the IDO Dfistarter platform to be able to receive compound interest from participating in IDO purchases and the growth of platform tokens. IDO.

Large investment funds have paid attention to the applications on this platform. Those fund names we will see many more.

Dfinity already has a very strong community, however, in order to attract money into the platform, the ICP ecosystem still needs to develop many pieces of the infrastructure puzzle, to help developers create dApps.

 

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