Rating the Nexm Finance project off the pitch deck is often tricky, but here is how I score it…
Solid 4 Stars
Pros
- Tapping into a very hot narrative with Liquid Staking Derivatives (LSD).
- Team looks capable at the CEO & CTO level, and advisors add value.
- The three Partners look very solid, and I will assume they cover Web2 & Web3 Development.
- The L1 blockchain choice of Aptos is well-timed for LSD expansion.
- DAO infrastructure is a plus if the governance structure works well.
- Business Model looks solid and has value capture.
- Road map looks aggressive, but if they can hit it, then by Q2 2024, they should be rocking.
- Hackathon awards are full star alone!
- Track Record & Media Highlights look good as well.
Cons
- Crowded space already, so attracting liquidity will be a challenge.
- Not sure how lucrative the earnings will be on the LSDFi side (stAPT). I realize you sell your stAPT position or maybe even borrow against it, but I'm not sure about a true “extra yield” as claimed by staking it somewhere else.
- Tokens are a little heavy for the team and partners (almost 25%) Show Less
