Chasing the Micro Cap Gems
ALERT: Chasing the Micro Gems series aims to dig up the projects that have a low market cap, decent team and potential of an explosion in value. These projects pose a high risk-reward ratio so please DYOR before investing. We invest a small portion (usually $100 or less) as a gamble on these projects. Do what fits you after DYOR.
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Tri means three.
True to its name, TRIAS is aiming to bring a time tested ‘separation of power’ concept to the technology space to make machines trustable.
That is quite a heavy sentence to grasp and for good reason.
We are reviewing TRIAS (TRY), which stands for Trustworthy and Reliable Intelligent Autonomous System, as part of our Chasing the Micro Cap Gems series.
What is TRIAS?
We are heading towards a world that heavily relies on technologies like Cloud Computing, Big Data, IoTs, AI, autonomous systems, Virtual Augmented realities, etc.,
The more we rely on the technology in our everyday lives the more important the aspect of ‘Trust’ becomes.
The question is a simple one: How do I trust these systems that I have come to rely on?
The answer, however, is not that simple.
How do you integrate these seemingly different technology infrastructures to create Trust?
TRIAS hopes to emerge as the answer to that question.
Trias is “an all-platform-supported (Server, PC, Mobile, IoT, etc.) native-application-compatible smart contract execution platform, development framework and collaborating ecosystem. TRIAS aims to define a new-generation all-platform-supported public chain system. Trustworthy and Reliable Intelligent Autonomous Systems make people trust in machines.”
TRI Structure in TRIAS
TRIAS brings one of the time tested concepts from the real world to the technology and that is: separation of powers: Execution, Legislation and Judiciary.
In TRIAS, these 3 elements are handled by three subsystems: Leviatom, Prometh and MagCarta, respectively.
From there one-pager, here is a snapshot on each of these subsystems:
“Leviatom is an integration of Trusted Execution Environments (TEEs) and Heterogeneous Consensus Graph, a graph computing algorithm similar to Hashgraph or DAGs. It can serve as the underlying ‘-1 layer’ for other public chains, including Ethereum and Hyperledger.
Prometh is a combination of formal verification and DevSecOps methodologies to achieve traceable and verifiable general-purpose software development.
MagCarta is a consensus-oriented programming paradigm to achieve embed and self-defined consensus strategy for high-order enterprise DApps.”
How does TRIAS stack up against our Crypto pick framework?
Our readers know that we apply a simple framework to see if a project has a good chance of succeeding. This criteria includes:
- Addressable Market Size
- Revenue Model
You can read the entire framework to apply to your favorite projects here: How to pick the Best crypto project?
You can also get the top 5 Cryptocurrencies we picked using this framework, for FREE (for a limited time).
Back to TRIAS. Let’s see how it stacks up on our crypto criteria framework.
The problem of trust in an automated world targeted by TRIAS is ginormous. The space could easily accommodate many players.
Ultimately, even solving the problem of trust for one or more verticals of the technology could prove to be quite lucrative.
This team reminds us of the Cardano crew.
If the information on the website were to be trusted then the team details are
quite impressive. Even more so for a coin with such low market cap.
Anbang Ruan, CEO, has Ph.D from Oxford and has over 10 years of experience in systems security.
Ming Wei, CTO, too has a Ph.D and has considerable experience in distributed cloud development.
Other team members are well qualified as well, as per the whitepaper.
Octa Innovations LTD., and Peking University have formed alliance with the TRIAS project. Given that the mainnet is not launched yet, we expect more companies to come onboard after the mainnet.
Addressable market size
The market for Trust across multiple technological domains is a big one. We do not have concrete numbers across all the industries that TRIAS wants to impact, however, we suspect it will be in the order of multi-billion dollar business opportunity.
Team has locked the tokens allocated to the TRIAS team and the total tokens will only be released by January 2024.
We expect that the increase in the value of tokens due to traction is what will generate more value to the TRIAS project.
At this point, we have not seen a recurring revenue model outside of tokenomics.
Based on the benchmarking of this project against our crypto criteria, we give it a solid 7 out of 10.
In our view, anything at or above 7 is a good project. Whether the project lives up to its potential is something we have to wait and see.
We cannot help but compare TRIAS with Cardano
Similarities abound between TRIAS and Cardano in terms of the evolution (not the solution), few that we found striking are:
Similar to Cardano, this project purports to have PhDs, Graduates and other nerdy bunch.
In line with Cardano’s, the token supply is in billions (although less than 25% of that of Cardano).
LONG Road Map
Cardano ran one of the longest ICOs of its time and then the tokens were not released for a whole year. On top of that, the project itself has been in works for years. TRIAS road map and timeline reminds us of Cardano in terms of the implications, vision and how far it is drawn out.
Cardano wants to be the best smart-contract blockchain platform for everyone to use. TRIAS aims to be the trust layer for all the technologies that are shaping our world right now.
Cardano is notorious for using the mythology figures for their project names. TRIAS seems to be following the suit.
What do we like about Trias?
Weekly updates & website: The website is extremely professional and the team strives to provide weekly status reports through their blog.
Concept: Extremely relevant concept and existing and latent demand brewing in the world right now.
Team: One of the more impressive team structures for a small cap coin.
Low market cap: The project was hovering around $3 Million at the time of this writing. A $30 Million valuation is quite low if TRIAS ends up achieving its goals. $300 million will be quite a low number if TRIAS pulls off its ambitions.
Potential Binance (and other) listings: An attempt to list on Binance has already been made. We expect future attempts to get listed on Binance will be in works. It is already on KuCoin which is a good exchange as well, in our opinion.
Red flags for you to consider
Couple of things you need to consider before jumping in.
Trading volume (or lack thereof)
As cool as TRIAS looks from our point of view, if the trading liquidity is gone then there is a chance that project might die with it.
However, this is also the easiest thing to overcome as the awareness in public or listing on reputable exchanges could bring volume in no time.
Lack of social following
For a project that is so ambitious, the social media following is quite sparse to say the least.
Only saving grace to this pet peeve of ours is their Telegram group of around 5000 (4500 on one channel and another 500 on their announcement channel).
Things to consider before investing in micro cap gems
Things that generally apply to the crypto market are true to micro cap coins as well, only more amplified.
- Loss of capital: Like any other crypto project, you could lose 100% of your investment. That is why we always position our investments to the point where we will not be devastated if we lose it all. We recommend diverting some of the ‘avoidable’ expenses (going out for dinner, watching movies in theaters, etc.,) so that the loss doesn’t hit you too hard.
- Lack of liquidity: Micro cap coins lack liquidity which means that exchanges could delist them for lack of trades and you may not have a market to sell your coins later.
- Manipulation abound: When the market cap and trading volume are low, a few handful players could manipulate the entire market (including deploying bots) and when real users come to trade they could wipe them clean. Beware.
In our opinion, we think TRIAS has everything we like to see in a micro cap gem: good concept, team with potential, long-term vision and relatively low market cap.
There is no guarantee that this will be a hit, however, if it ends up executing on its roadmap – then – this could prove to be a great find.
As we said earlier, we do not bet big bags on micro cap gems. You do what fits your investment strategy.
Official website: https://www.trias.one/
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