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Socket Protocol (N/A)

Past
Total Raise: $13M
Date: 09 Mar, 22 - 13 Oct, 23

Socket Protocol is the first chain-abstraction protocol, letting developers build apps that treat multiple blockchains as one. It uses simple smart contracts to manage key actions, giving control to developers while keeping things easy for users.

Since its inception in 2022, Socket Crypto has successfully raised $12.8M from Coinbase Ventures, Balaji Srinivasan, Sandeep Nailwal, Framework Ventures, and others.

❗️ ❗️ ❗ IMPORTANT:

Please be aware that all information, including our ratings and reviews, is presented purely for educational purposes. CoinLaunch doesn’t provide financial advice, nor does it intend for the information to be perceived as investment advice or recommendations. Our project evaluation methodology encompasses 89+ distinct variables/metrics, refined over time through the team's rich 7-year experience.

Socket Protocol Overview

Ticker: N/A
Blockchain Network: Ethereum, BSC, Solana and 300+ Chains
Country: India
Founded: 2022
Whitelist: No
KYC: No
Bounty: Yes
MVP: Yes
Type: Equity
Security Audit:
No

Socket Protocol Review

Last updated: 10 Jun

Socket Tech is a protocol built to ensure smooth, secure, and efficient interaction between different blockchains. It enables cross-chain transfers of assets and data, offering developers tools to build dApps with integrated interoperability while delivering a seamless user experience across supported networks.

Socket Protocol Crypto powers over 100 protocols, including MetaMask, Coinbase Wallet, SyncSwap, Renzo, and more, and has facilitated over $20 billion in transaction volume.

Socket Protocol includes several core components:

Watchers: are off-chain nodes that monitor blockchain activity and generate proofs;

Transmitters: use these proofs to trigger on-chain actions;

Switchboards: are on-chain contracts that verify Watcher proofs with customizable logic;

AppGateway Contracts: manage interactions between users and smart contracts, adding pre-checks and logic;

Onchain App Contracts: are standard smart contracts that operate within the Socket ecosystem.


The CoinLaunch team analyzed the Socket io Protocol and identified some pros and cons to consider before participating in future Protocol Socket token sales: 

βœ…  Socket Protocol pros: 

  • Good PR Performance and SMM;
  • There are multiple reputable Tier 1 Backers (Coinbase Ventures, Balaji Srinivasan);
  • Presence of reputable partners (Polygon);
  • The core team members have work experience in top-tier companies (Polygon).
     

πŸ“› Socket Protocol cons: 

  • The product does not match any of the current market narratives; 
  • Has no public security audits;
  • No information about tokenomics;
  • No public roadmap;
  • Weak Marketing Infrastructure and SEO; 
  • Bad Influencer Marketing and Growth Marketing.

Socket Protocol Token Economy

Total Raise: $13M
Total Supply: N/A
Private/Pre-sale: $13M (100%)
Public Sale: (0%)
FDV: N/A
Initial Market Cap: (0% of FDV)
Initial Circulation Supply:

Socket Protocol Token Sale (ICO & IDO) Rounds

Seed 10 Mar, 22
Past

Price: N/A
Tokens for sale: N/A
Raise: $5M
Lock-Up: N/A
Funds:
Coinbase Ventures logo Framework Ventures logo Maven 11 Capital +5
Seed 27 Jul, 22
Past

Price: N/A
Tokens for sale: N/A
Raise: $2M
Lock-Up: N/A
Funds:
Balaji Srinivasan LongHash Ventures Logo IDEO CoLab Ventures logo +1
Strategic 06 Sep, 23
Past

Price: N/A
Tokens for sale: N/A
Raise: $5M
Lock-Up: N/A
Funds:
Coinbase Ventures logo Framework Ventures logo
Private 13 Oct, 23
Past

Price: N/A
Tokens for sale: N/A
Raise: $1M
Lock-Up: N/A
Funds:
Arbitrum Foundation logo

Socket Protocol Funds and Backers
(3/13)

Submit
Fund Score Type Retail ROI Numbers of investments
Very High1.54x85
N/A1.63x31
High3.07x25
View All

Socket Protocol Marketing Activity

Search Engine Optimization
Social Media & Community Management
PR & Traffic
Marketing Infrastructure
Influencer Marketing
Growth Marketing
Last Update:  11 Sep, 25 Upgrade

Social Media Activity

Users 870
Member Change (30d) 0
Mentions (30d) N/A
Forwards (30d) N/A
Avr. Post Views 431
Followers 51.54K
Twitter Score
1052
Level: 4 - Significant

Top Twitter (X) Followers

Avatar
DeeZe β›³πŸŒοΈβ€β™‚οΈ DeeZe
3,942
Avatar
dingaling dingalingts
3,412
Avatar
Luca Netz 🐧✳️ LucaNetz
3,278
Avatar
loomdart - Holy War Arc loomdart
3,155
Avatar
Andrew Kang Rewkang
3,062
Avatar
Captain Trippy CapetainTrippy
3,037
Avatar
Polygon 0xPolygon
3,025
Avatar
Udi Wertheimer udiWertheimer
2,956
Avatar
Frank frankdegods
2,941

Socket Protocol Team

Vaibhav Chellani
Vaibhav Chellani
CEO
Rishabh Khurana
Rishabh Khurana
Co-Founder
Arth Patel
Arth Patel
Head Of Engineering

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TBA
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