Recently, Binance has launched a series of support plans both on-chain and off-chain, covering multiple directions such as Alpha, contracts, and spot trading, forming a relatively comprehensive incubation system. However, the overall market performance remains weak, and high-quality investment opportunities are becoming increasingly scarce.

In the current environment, a steady strategy might be the best choice for investors. The Memecoins track on BNB Chain has entered its mid-to-late stage, and with the surge in project numbers, the support effect of top projects is gradually weakening. For instance, Mubarak, selected by Binance for the first batch of voting listings, has not seen its token price rise, reflecting the current market's higher investment risks than opportunities for Memecoins.

In comparison, holding BNB might be a more strategic choice. As the core asset of the Binance ecosystem, BNB continues to receive official empowerment, with its Total Value Locked (TVL) potentially reaching a new high, while users can participate in IDO and Launchpool to obtain additional rewards.

The following will focus on analyzing two currently noteworthy projects: KiloEx in the DEX derivatives direction and GUNZ in the GameFi direction.

DEX Derivatives Direction - KiloEx

KiloEx is the sixth period project of Binance Wallet's IDO, focusing on the DEX derivatives field. Launched after the Hyperliquid attack incident, KiloEx aims to solve the three major challenges of DEX: high-leverage trading, liquidity black holes, and oracle manipulation. Currently, KiloEx is the largest DEX on the opBNB chain, with a daily scale of $80 million and occupying 70% of the chain's TVL.

Problems Solved

KiloEx primarily addresses several pain points in the current DEX derivatives market:

• Insufficient Liquidity: Due to lack of market depth, derivatives trading on traditional DEX platforms often faces significant slippage issues. KiloEx enhances trading depth through an innovative dynamic liquidity pool model, ensuring users can complete transactions smoothly even in low liquidity conditions.
• High Transaction Fees: DEX transaction fees are high, especially during market volatility, with fees and slippage often being user pain points. KiloEx significantly reduces transaction costs by optimizing trading algorithms and implementing a low-fee structure.
• Complex Derivatives Trading Experience: Traditional derivatives platforms typically have high entry barriers. KiloEx simplifies the user interface and operation process, enabling even new users to quickly get started and improving platform user experience.
• Price Manipulation Risk: Many trading platforms are prone to "flash crashes" or price manipulation. KiloEx effectively prevents such issues by using a median spot price mechanism.

The total supply of $GUN tokens is set at 10 billion, with an initial circulation of 645 million tokens (6.05% of the total token supply). The Launchpool total is 400 million tokens (4% of the total token supply), allowing users to mine with zero threshold by staking BNB, FDUSD, and USDC over three days, with an estimated annual yield exceeding 150%. Additionally, the project team's reserved tokens are for game ecosystem incentives, which may be continuously empowered through Non-Fungible Token assets, Play-to-Earn, and other modes in the future. In the token allocation, the private placement round accounts for the largest proportion at 37.8%, followed by Treasury allocation at 13% and community incentives at 8%.

Team and Financing

A total of two rounds of financing have been completed, specifically as follows:

• In August 2022, completed a $46 million financing round, led by Republic Capital, with participation from Griffin Gaming Partners, Animoca Brands, Jump Crypto, and other companies, as well as famous angel investor Justin Kan, co-founder of Twitch.
• In March 2024, completed a $30 million financing round, led by Blizzard Fund under Avalanche and CoinFund.

Operational Data

To date, GUNZ has over 13 million wallets, with total transaction volume exceeding 370 million transactions and an average daily transaction volume of 2.5 million.

Overall, GUNZ has certain advantages in the game's L1 direction, and Binance Launchpool is a high-quality low-risk fundraising opportunity, but it still faces challenges in retention rates and economic mechanisms.

Summary

The market is still in a downturn, and a steady investment strategy is more advantageous. Currently, the competition of memecoins on BNB Chain is intensifying, and holding BNB and CAKE may be a more stable choice. KiloEx, as a DEX derivatives project incubated by Binance, has certain competitiveness, but its IDO investment returns have declined compared to earlier projects. GUNZ has AAA game experience and public chain advantages in the GameFi track, but still faces the challenge of low overall track retention rates.

Overall, Binance Wallet IDO and Launchpool remain relatively low-risk participation methods, but investors need to pay attention to market trends and the project's long-term development potential.