Author: Kain Warwick, Founder of Synthetix

Translation: Azuma, Odaily Planet Daily

Editor's note: With Bitcoin breaking above $42,000 and driving rallies in some altcoins, FOMO anxiety is once again spreading through the market. At this moment, what retail investors most hope to see are precise "wealth codes" from top influencers.

This afternoon, Kain Warwick (kain.eth), founder of Synthetix, listed 11 projects he is closely watching on his personal social media account, calling them "sprouts in a long winter."

Below is the original content by Kain Warwick, translated by Odaily Planet Daily.

Lyra (LYRA)

Positioning: Options protocol built on Optimism and other Layer 2 networks.

Official Account: https://twitter.com/lyrafinance

kain.eth comment: The Lyra community has the same vibe that Synthetix had in early 2019—I rarely see this elsewhere—and Lyra v2 is coming soon.

Optimism (OP)

Positioning: Leading Layer 2 network.

Official Account: https://twitter.com/optimismFND

kain.eth comment: "Superchains" will be a dominant narrative in 2024. The technology makes sense and will only get better. Next year we'll see more new chains choosing to build on OP Stack.

Ammalgam (No token yet)

Positioning: Emerging DeFi protocol combining lending and trading.

Official Account: https://twitter.com/ammalgam

kain.eth comment: This is one of the first projects I've mentored. They've completed a small seed round and are still hard at work refining their product, with a testnet launch expected soon. They're currently raising more funds.

Thales (THALES)

Positioning: Derivatives DeFi protocol.

Official Account: https://twitter.com/thales_io

kain.eth comment: Thales is one of the quietest ecosystems out there. Honestly, I think they need to do some consolidation before the bull run because they have 80 sub-projects. They've been building for years and are deeply embedded in GambleFi.

Tazz (No token yet)

Positioning: Decentralized debt market.

Official Account: https://twitter.com/tazz_finance

kain.eth comment: I once advised them to rebrand, but for some reason they haven't done it yet. I believe on-chain bonds will be an important theme next year, as projects will prefer debt financing over equity.

Illuvium (ILV)

Positioning: AAA-grade blockchain game.

Official Account: https://twitter.com/illuviumio

kain.eth comment: I held from $1,800 down to below $40. I'm not sure if they've prepared enough meme marketing material for the game's launch, but they should. When Illuvium launches, I think it will shock quite a few people.

Pyth (PYTH)

Positioning: Oracle service.

Official Account: https://twitter.com/PythNetwork

kain.eth comment: I'm extremely bullish on this project—they kept pushing forward even during the bear market, constantly launching new solutions.

dYdX (DYDX)

Positioning: Leading derivatives protocol.

Official Account: https://twitter.com/dYdX

kain.eth comment: I'll turn bullish if DYDX token holders can unite and overthrow the autocratic founder Antonio.

Curve (CRV)

Positioning: Leading DEX.

Official Account: https://twitter.com/CurveFinance

kain.eth comment: Despite still feeling bruised from being wrecked by Mitchwill (Curve's founder) back in 2020, the ve model still holds power during bull markets.

Lit Protocol (No token yet)

Positioning: Key management infrastructure; raised $13 million in Series A led by 1kx.

Official Account: https://twitter.com/LitProtocol

kain.eth comment: To be honest, I didn't even want to put this on the list—because right now they're Infinex's secret weapon.

Infinex (No token)

Positioning: DEX marketplace built on Synthetix, supporting derivatives trading.

Official Account: https://twitter.com/infinex_app

kain.eth comment: This project is scaling faster than any other I've seen. The DEX war has just begun.