NEOPIN: A new encryption project created by South Korea's gaming giant, exploring the integration of Decentralized Finance and CeFi.

NEOPIN is a "licensed DeFi protocol" under the South Korean gaming company Neowiz, aimed at bridging traditional finance and DeFi protocols within a compliance framework by combining the advantages of CeFi and DeFi.

As a project selected for the Abu Dhabi Investment Office's Innovation Program, NEOPIN is collaborating with local government agencies to develop a DeFi regulatory framework. It is one of the few DeFi service providers that have obtained regulatory approval, actively embracing regulation to ensure long-term stable development.

NEOPIN is the only DeFi protocol that supports both the Klaytn and Finschia networks, occupying a favorable position in the merger of the two public chains, and is expected to become a benchmark for the "blockchain merger" concept in the future.

In addition, NEOPIN also offers RWA-based Decentralized Finance products to enter the RWA market in a compliant manner, expecting to share in the explosive growth dividends of this sector.

Based on comparative analysis valuation, it is expected that the price of NEOPIN's NPT token will reach between $3.10 and $8.39 by the end of the first quarter of 2025, indicating significant upside potential compared to the current price.

With the support of gaming giants, compliant operation of Decentralized Finance, and benefits from public chain mergers, NEOPIN is expected to gain more user trust in the upcoming wave of blockchain integration. As an extremely inclusive Decentralized Finance protocol, NEOPIN's efforts to bring real assets on-chain are also more likely to be recognized, with the opportunity to earn the loyalty of a large number of web2 and web3 users.

Three Highlights of NEOPIN

1. The biggest beneficiary of public chain mergers

In February this year, Klaytn and Finschia, two major public chains, announced their merger, planning to create the largest Web3 ecosystem in Asia covering over 250 million users.

Klaytn is developed by Ground X, a subsidiary of the South Korean internet giant Kakao, while Finschia is developed by Line Tech Plus, a subsidiary of the Japanese internet giant Line. These two major public chains represent the most popular instant messaging tools in South Korea and Japan, and their merger is likely to become a landmark event in the blockchain industry, sparking a "blockchain merger" trend.

Compared to "forking" in blockchain, "merging" signifies the consolidation of community will and the establishment of a higher-level consensus. From a traditional finance perspective, merging is akin to mergers and acquisitions, which are important means for companies to grow and strengthen.

NEOPIN, as the only DeFi protocol and governance committee member that simultaneously supports both Klaytn and Finschia networks, plays a key role in this merger. NEOPIN has launched the first cross-chain bridge between the two public chains, supporting bidirectional cross-chain. As the first DeFi protocol to respond to blockchain mergers, every new feature of NEOPIN could become an industry benchmark.

If NEOPIN performs well in this merger, it will play a greater role in more blockchain mergers in the future.

2. Actively embrace regulation and build compliant Decentralized Finance

In recent years, regulatory agencies in various countries have intensified their oversight of web3 projects. Insufficient transparency, security risks, and compliance issues are the main obstacles limiting the long-term development of Decentralized Finance.

NEOPIN, as the pioneer of the "permissioned Decentralized Finance" protocol, chooses to actively embrace regulation, demonstrating a long-term vision. Early collaboration with regulatory agencies is beneficial for building a cryptocurrency platform that meets regulatory requirements while leveraging the advantages of DeFi and CeFi. NEOPIN collaborates with the UAE government to develop a DeFi regulatory framework, promoting services based on this framework globally, thus gaining a first-mover advantage.

Users need to complete KYC verification before using NEOPIN services, which avoids illegal funds from flowing in and provides a safer environment for users.

For DeFi projects, compliance development is the foundation for long-term healthy growth. Actively accepting regulation and operating in accordance with the law helps projects survive in an increasingly stringent regulatory environment in the future and attracts more new users to enter the market, promoting the development of the entire industry.

3. Layout the RWA market, connecting the on-chain and off-chain worlds.

NEOPIN officially announced the launch of RWA-based DeFi products in March, entering the RWA market. RWA is an important link that connects the on-chain and off-chain worlds, and in recent years, the market size has experienced exponential growth, making it a highly potential track.

Multiple institutions predict that the RWA market will develop into a massive market worth trillions of dollars in the future. Similarly, ONDO Finance, which operates RWA businesses in compliance, has seen its governance token $ONDO increase by over 300% in the past three months.

The NEOPIN BDLP launched by NEOPIN is a multi-yield liquidity mining protocol based on RWA, offering users an annualized return of up to 13%-30%. NEOPIN has also developed AI algorithms to help users optimize asset allocation based on preferences and on-chain data.

NEOPIN simplifies the investment process, allowing users to easily explore and invest in various Decentralized Finance products without having to jump between multiple protocols, significantly lowering the entry barrier.

In the future, compliant RWA products will become an important link between the web2 and web3 worlds. Compliant RWA platforms will make it easier for new web3 users to access high-quality real-world assets. Pioneers in the RWA field are expected to establish a first-mover advantage from both product and user perspectives, allowing them to succeed in future competition.

NEOPIN (NPT) Token Analysis

The total issuance of NEOPIN's ecosystem token $NPT is 1 billion pieces, and the current circulating supply is about 86.64 million pieces, with a circulation rate of less than 10%. The token distribution is as follows:

• Ecosystem ( 50% ): including liquidity pools ( 29.75% ), staking rewards ( 13.23% ), service rewards ( 17.02% )
• Partners (18%): Used to establish new partnerships and develop new services
• Team operation (15%): Incentivize project teams, allocate to individuals based on ecological contributions.
• Reserve Fund (10%): for ecosystem development
• Marketing ( 5% ): Promotion marketing, increasing the number of ecosystem participants
• Investors (2%): allocated to early investors

$NPT plays a core role in the NEOPIN ecosystem, connecting various encryption financial services, including P2E, S2E, M2E, and NFTs. Specific utilities include:

• Provide liquidity and earn trading fee rewards
• Staking and locking to earn rewards
• Liquidity Mining Rewards
• Participate in ecological activities to earn rewards
• Automatic repurchase and supply deflation(AutoRM)
• Supports cross-chain Swap, NFT market, P2E, S2E and other services

The token economic design of $NPT encourages users to participate voluntarily and adjusts rewards based on their contributions to the ecosystem. Through a stable token circulation and reward mechanism, NEOPIN aims to maintain ecological stability and liquidity while expanding the use cases of $NPT, ensuring the long-term sustainable development of the ecosystem.

NEOPIN Valuation Analysis

We conduct a comparative analysis to evaluate NEOPIN against four types of projects: DEX, Staking, Bridge, and RWA. Considering the significant gap between FDV and current market capitalization, we choose to use the current market capitalization for analysis.

Finally, we will weight the valuation results of the four businesses: DEX, Staking, Bridge, and RWA at 40%, 30%, 20%, and 10% respectively, to arrive at the overall valuation of NEOPIN.

DEX project valuation

We choose SushiSwap, Osmosis, and QuickSwap as comparable projects, and the valuation results are as follows:

The price of NPT tokens is expected to be between $1.78 and $4.54 by the end of 2024.

Staking project valuation

We choose Stride, BENQI, and Ankr as comparable projects, and the valuation results are as follows:

The NPT token price is expected to be between $3.45 and $5.47 by the end of 2024.

Bridge project valuation

We choose Synapse, Across, and Connext Network as comparable projects, and the valuation results are as follows:

The price of the NPT token is expected to be between $1.36 and $2.41 by the end of 2024.

RWA project valuation

We selected Synthetix, Ondo Finance, and Ribbon Finance as comparable projects, and the valuation results are as follows:

The price of NPT tokens is expected to be between $10.77 and $44.49 by the end of 2024.

Comprehensive Valuation Result

Based on the valuation results of the above four types of businesses, weighted at 40%, 30%, 20%, and 10%, we conclude:

By the end of 2024, the market value of NEOPIN is expected to be between $268 million and $727 million, and the price of NPT tokens is expected to be between $3.10 and $8.39.

Conclusion

The main highlights of NEOPIN include:

1. Backed by the South Korean gaming giant Neowiz, the team has strong capabilities.

2. As the first DeFi protocol to benefit from the "blockchain merger", it plays a key role in the merger between Klaytn and Finschia and is expected to gain recognition in more blockchain mergers in the future.

3. Actively embrace regulation and propose the concept of "permissioned Decentralized Finance" to lay the foundation for long-term development.

4. Layout the RWA field under the compliance framework, which is expected to become an important bridge connecting web2 and web3.

5. Valuation analysis shows that the price of the NPT token is expected to reach $3.10 to $8.39 by the end of 2024, indicating significant upside potential.

In summary, NEOPIN, with its unique advantages, is expected to stand out in the future wave of blockchain integration and gain more trust and loyalty from users. Whether seasoned web3 users or new web2 users, they may find suitable services in NEOPIN, a highly inclusive Decentralized Finance protocol.