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C+ Investment Grade

KOMODO DIGITAL ASSET REPORT

Introduction

Komodo is one of the oldest and most misunderstood projects focused on the interoperability question in the crypto space. Since 2014, the team has been working towards a future where all blockchains can work together to mutually increase utility through cooperation but have found it tough to deliver the message to its target audience.

Despite developing and successfully deploying a number of features and technologies, such as the delayed Proof of Work algorithm, smart chains, and the AtomicDEX, Komodo has not been able to establish a clear brand image in the space. Over the years it has been misconceived as a privacy coin project, due to it originally being a fork of Zcash, and has generally struggled with public awareness.

The team has remained committed to the project and focused on the big picture. The low use case token economy has been designed with bootstrapping in mind and expected evolution over the years. However, given that Komodo is a platform play, its bright future is dependent on it being able to attract and sustain a critical number of partners and users in order to drive network effects.

At the beginning of Q3 of 2019 Komodo relaunched the project via a full rebrand that included new developer tools, technical documentation, and a website redesign. This is expected to help Komodo transform from an R&D project into a commercially viable platform. If the project is able to communicate its competitive advantages to other protocols and developer teams it may finally start to realize the potential of its technology.

Komodo has made a number of invaluable contributions to the blockchain space, including Atomic Swaps and plug & play blockchains. However, the low emphasis on the native token, and currently poor brand awareness make its future prospects questionable. The team needs the rebrand to significantly change the perception of the project in the near term in order for the long-term future to remain viable.

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CONVEX PICK OF THE MONTH REPORT: CVX

Summary

Convex’s business model is built on Curve, a DeFi blue chip that continues to be one of the market leaders. It repackages Curve’s governance into a liquidity bootstrapping product that is already being used by projects like Abracadabra and Alchemix, and there is potential for more projects using it down the line. Ergo, Convex is one of the few examples of business-to-business models in crypto.

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