In the recent video, the widely-followed crypto analyst Lark Davis highlights the top potential low-cap altcoin gems that built on Polkadot (DOT) and Kusama (KSM) ecosystem with huge potential to grow 100x in the future.
Karura Network
The first crypto project on Davis’s radar is the decentralized finance Karura Network. The project has recently raised 200,000 KSM tokens, equivalent to $100 million, in a crowd loan.
“Karura is a token trading application built to provide users with a platform to build and use scalable DeFi applications without large transaction fees and external operations between chains. It is the sister of Acala Network, Polkadot’s main DeFi project”, the trader explains.
Bridge Mutual Insurance (BMI)
Next on the list is Bridge Mutual Insurance (BMI), which is also the trader’s long-term plays.
According to Davis, BMI has marked a significant milestone in their development as its the testnet is officially deployed and ready to use. They are also launching a bug bounty program on ImmuneFi.
“Bridge Mutual V1 is officially deployed on the Ethereum testnet. They are also currently working on launching on the Polygon testnet”.
In terms of the bug bounty program, Bridge Mutual is providing more than $2,000,000 USD in rewards for the community to aid in security testing and improvement of their platform.
“This bug bounty will be perpetual. Rewards will increase overtime over the long-term”.
Demodyfi (DMOD)
Demodyfi (DMOD) is the next 100x altcoin. The project has just recently launched on Uniswap (UNI).
Demodyfi is a decentralized, cross-chain protocol powering the future of crypto finance asset exchange, powered by Polkadot.
“It is a Uniswap-like protocol but built on the Moonbeam, the Polkadot-based bridge”.
The Demodyfi protocol supports the value interoperability between different parachains, allowing the tokens on the Polkadot chain to be quickly traded and circulated. The protocol is integrating and combining communication between different blockchains.
“The Demodyfi protocol utilizes Moonbeam’s parachain smart contract interoperability while the Substrate framework serves as a fundamental layer. Combining this makes it compatible with the EVM, and to deploy EVM-based bytecode compiled from Solidity using tools available from the Ethereum stack”.
Kylin Network (KLY)
Another potential 100x altcoin is Kylin Network (KLY).
Kylin Network will provide a decentralized data infrastructure solution, called DeData for Web 3.0 leveraging Polkadot and Polkadot Substrate 2.0 Off-Chain Workers including Kylin Data Oracle, Kylin Data Analytics and the Kylin Data Marketplace.
“Defi cannot operate without having oracles. Kylin has received a Web 3 foundation grant, which in Polkadot world is a pretty big deal. Chainlink obviously by and far the leader when it comes to the oracle space, but that does not mean there is no space for other projects to come up and grab some market share”, the trader says.
Splyt (SHOPX)
Splyt (SHOPX) is another altcoin on Davis’s radar. The Splyt protocol is an open-source blockchain inventory observed to be “the next generation of e-commerce”, the next biggest step in digital commerce since the mass-adoption of the internet.
“Splyt bridges the gap between brands and consumers in a rapidly changing climate. Splyt’s blockchain eNFT inventory database enables effortless & transparent sales, streamlines multi-platform affiliate sales, and eliminates liability between e-commerce platforms and supply chain”.
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