DePIN
Key Metrics
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TGE expected in Q4:24
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estimated reading time: 20–30 minutes
The Libera project is building a DePIN network that captures retail sales data in emerging markets. While data analytics is a key driver of decision making for consumer packed goods (CPG) industries, data capture is virtually non-existent in emerging markets. Libera uses LIBE tokens as incentives for micro-retailers providing transaction data. This data creates a valuable resource for global CPG companies, where Libera can monetize this data and return value to LIBE token holders. This fosters a sustainable network that empowers emerging market communities by supplementing incomes and improving business efficiency.
Companies like Neilsen generate billions in revenue by capturing and analyzing retail sales data in developed countries. Unlike retailers in developed markets, emerging market retailers are seldom digitized or integrated with Point-of-Sales (POS) systems. Rather, most transactions in “mom and pop” stores go untracked. However, as incomes in emerging markets rise, consumer spending on packaged goods accelerates. This creates an unfilled gap for global CPG brands seeking reliable data.
Libera uses token incentives to bootstrap a network of data contributors. The project offers LIBE tokens as incentives for micro-retailers to provide transaction data. This data is synthesized by Libera’s proprietary AI knowledge graph, and subsequently sold to large CPG companies and wholesalers. Libera allocates 25% of sales to LIBE buybacks which can more than offset token incentives. Micro-retailers can also stake LIBE to gain access to Libera’s AI recommendation engine for inventory suggestions. These high value tools can help bridge income gaps between emerging and developed market stores.
The Libera project is targeting emerging markets with high crypto ownership and smartphone penetration rates. The Libera app and LIBE token will initially launch on Polygon PoS in Q4:24, followed by Lisk network (an Ethereum L2). Indonesia will serve as LIBE’s initial launch market, followed by countries where crypto ownership exceeds 10% and smartphone penetration exceeds 80%. The project is connecting with micro-retailers by leveraging relationships of sub-distributors that also seek the data captured by Libera’s DePIN network.
DePIN is among the hottest themes in Web3, where DePIN related protocols are among the best performing tokens YTD. We view LIBE as a differentiated asset within the DePIN narrative, where Libera offers real-world utility to CPG companies and micro-retailers. The project can also bring value to developing economies by boosting incomes for millions of small businesses. With low barriers to adoption and even lower competition, Libera could be among the 1st DePIN projects with broad based adoption.
Protocol Background
LIBE is the utility token for Libera’s DePIN network.
Libera collects and synthesizes retail sales data in emerging markets.
The Goldmine of Retail Data
Brands and wholesalers use retail sales data to optimize decision making.
Data capture is minimal across millions of stores in emerging markets.
Technical Details
Libera creates a marketplace between micro-retailers and data buyers.
Retailers can stake LIBE tokens for access to bespoke insights.
Go-to-Market Strategy
Libera will initially launch in Indonesia and on Polygon PoS.
Local partnerships help broaden merchant outreach.
Development Roadmap
LIBE is participating in SingularityDAO’s launchpad and incubation program.
Libera’s tech roadmap includes micro-loans and deeper Web3 integrations.
LIBE Community
Libera’s ESG narrative helps broaden project awareness.
Libera is growing its community ahead of mainnet launch.
Tokenomics
Libera will allocate 25% of revenue to LIBE token buybacks.
Staking benefits incentivize micro-retailers to HODL LIBE tokens.
A Differentiated Asset among DePIN Narratives
LIBE offers real-world utility and positive value accrual.
Libera has a $25m revenue opportunity in Indonesia alone.
Risks to LIBE
Libera faces regulatory risks in various emerging markets.
LIBE token volatility could reduce interest in Libera’s DePIN network.
Core Contributors
LIBE is the utility token for Libera’s DePIN network.
Libera collects and synthesizes retail sales data in emerging markets.
Libera Overview
The Libera project is building a Decentralized Physical Infrastructure Network (DePIN) that captures retail sales data in emerging markets. The platform offers token incentives for small businesses and micro-retailers in exchange for transaction data. Retailers’ data is synthesized using AI and sold to large CPG companies and wholesalers.
LIBE is the incentive and staking token for Libera’s DePIN network. The protocol will initially target Indonesia while launching on Polygon PoS and Lisk network (an Ethereum L2). The Libera project is incubated by SingularityDAO with plans for LIBE to list in its launchpad in Q4:24. Libera Global AI was founded in 2022 by a group of entrepreneurs with experience in Asia supply chain industries.
Figure 1: Libera Global AI – Untapping Emerging Market Data
Figure 2: Nano-Retailer in the Middle East
Figure 3: Libera App Demo
Brands and wholesalers use retail sales data to optimize decision making.
Data capture is minimal across millions of stores in emerging markets.
DePIN (Decentralized Physical Infrastructure Networks)
The Libera project is building a reliable source for retail sales data in emerging markets. Similar to other DePIN projects, Libera uses blockchain technology to bootstrap infrastructure networks by incentivizing individuals to provide resources. In return, these participants earn token rewards that accrue value from end-user demand.
Figure 4: DePIN Network Flywheel
DePIN projects are using blockchain technology to provide real world utility, where Web3 communities are building decentralized networks for purposes ranging from data storage to compute. Similar to Libera, several projects are using DePIN networks to more efficiently capture real world information.
Hivemapper is a decentralized mapping platform that uses a global community to capture and update maps with street-level imagery. Contributors earn Hivemapper tokens (HONEY) for their efforts to incentivize the maintenance of high-quality and accurate maps. Mapping data is sold to transport companies like Uber, which use the data to improve their product offerings.
DIMO collects and manages real-world data on vehicle performance and usage. Users are rewarded with DIMO tokens for sharing their data, which supports the development of advanced automotive applications.
2Blox provides a camera system that captures and verifies real-world traffic data. Users earn tokens for contributing to the network.
The Value of Retail Data
Data analytics is a key driver of decision making for retail businesses, where transaction data is used to optimize inventory management and operational efficiency. Recent AI developments have compounded data’s value by providing targeted inventory recommendations for both retailers and product manufacturers.
Data analytics have helped consumer packaged goods (CPG) companies become highly responsive to shifts in consumer trends. Companies like Procter & Gamble use advanced analytics and machine learning algorithms to optimize supply chains and forecast demand. Companies like Amazon are also leverage data to provide recommendation engines to small retailers and CPG brands.
Companies like NielsenIQ specialize in aggregating retail data across multiple markets to provide macro-level trends in real time. This data is sold to retailers, wholesalers and CPG companies that use this information for their own decision making. Companies like NielsenIQ have built a reputation for providing high quality data that helps retailers become more responsive to consumer trends.
NeilsenIQ (NIQ), the market leader, generates over $4 billion revenue annually while tracking sales from over 350,000 retail partners worldwide. However, NIQ’s data capture is largely limited to developed markets where transactions are continuously tracked at the point-of-sale. Alternatively, NIQ offers less reliable insights into emerging markets where it’s difficult to capture data from individual stores.
Figure 5: NielsenIQ – Granular Sales Data Across Regional Markets
Low Data Capture in Emerging Markets
Despite the immense value of raw retail data, most sales remain uncaptured in emerging markets. Unlike retailers in domestic markets, stores in emerging markets are seldom digitized or integrated with Point-of-Sales (POS) terminals or online payment channels. Rather, most transactions in “mom and pop” stores go untracked.
This leaves very few reliable sources for emerging markets retail data. Without an efficient means for data collection, companies like Neilsen bridge this gap by issuing surveys to individual stores. However, data sampling represents less than 1% of stores in most markets and the captured information remains unreliable for efficient decision making.
Meanwhile, with the rise of consumption in emerging economies like Indonesia, Philippines and Vietnam, large CPG companies are increasingly interested in capturing real time consumer trends. This provides a meaningful opportunity for data aggregators like Libera, where major brands are willing to pay large sums for access to quality retail data in these markets.
Figure 6: Data Trilemma in Emerging Markets
Propensity for DePIN Adoption
Despite low data capture from retailers, emerging markets are significant adopters of smartphones and blockchain technology. This creates an ideal target market for Libera, where micro-retailers are more likely to provide transaction data using smartphones in exchange for tokenized rewards.
Figure 7: Smartphone Adoption Rates in APAC Regions
Developing countries are also among the earliest adopters of blockchain technologies. While a significant portion of populations remain unbanked, smartphones and non-custodial Web3 wallets can fill this gap. Emerging market users have been major participants across multiple Web3 communities, even beyond using stablecoins like USDT.
Gaming: The widespread popularity of Axie Infinity during the 2021 crypto boom significantly introduced many APAC users to crypto. Of these countries, the Philippines saw outsized participation in the Axie Infinity game.
Worldcoin: Multiple news outlets have highlighted the meaningful interest in WLD tokens from emerging market users. Over 6.5 million unique users have verified their identity to Worldcoin’s “WorldID” in exchange for WLD tokens. WorldID has users across over 160 countries, where emerging markets users are attracted by the free coins.
Figure 8: Cryptocurrency Ownership Rate (2024)
Libera creates a marketplace between micro-retailers and data buyers.
Retailers can stake LIBE tokens for access to bespoke insights.
The Libera Project
Libera addresses inefficiencies caused by low retail data capture in emerging markets. By integrating blockchain technology with data analytics and AI, Libera is building a streamlined ecosystem where sales data is sold by micro-retailers and purchased by large CPG companies and wholesalers.
Figure 9: Libera Global AI – Market Opportunity
Merchants record and provide transaction data to Libera, in exchange for LIBE token rewards. Retailers can also stake LIBE tokens for access to customized insights and recommendations related to their store.
Libera acts as an intermediary, using token incentives to purchase data from merchants and then sell data to buyers. Libera uses AI models to validate and synthesize all acquired data.
Data buyers, like Mondelez, will use Libera’s data to gain access to valuable insights. This enables producers and wholesalers to more quickly adapt marketing and inventory levels in response to changing consumer trends.
Figure 10: Libera Value Chain
Libera uses revenue from data sales to repurchase LIBE tokens in the open market. Token repurchases offer sustainable demand for LIBE without relying on token inflation to fund network incentives. Libera also incentives retailers to HODL LIBE tokens by offering LIBE stakers access to Libera’s AI-based recommendations.
Libera’s recommendations give micro-retailers access to valuable tools and insights that were historically reserved for merchants in developed countries. These token incentives and inventory recommendations can help improve sales and profitability for emerging market stores, thus improving incomes and combatting poverty.
Figure 11: Libera’s Impact on Nano-Merchant P&L
Data Capture
Libera simplifies data capture for micro-retailers. This contrasts with failed attempts by fintech companies selling POS devices in emerging markets, where hardware costs remain a barrier against broader adoption. Alternatively, Libera’s POS system does not require any additional hardware and can be integrated with any Android or iOS smartphones.
Libera simplifies data capture for retailers by integrating with WhatsApp. Upon completing a sale, merchants can leave text or voice notes to dedicated WhatsApp channels. Libera collects and organizes data into formatted structures. Users can also directly upload transaction data into Libera’s smartphone app.
Libera ensures data reliability by evaluating each submission. Higher quality submissions are subject to higher multipliers for LIBE token rewards. To ensure data providers are not submitting inaccurate or misleading information, LIBE token rewards are determined by three key criteria:
Completeness measures the frequency and thoroughness of uploaded data. Token rewards are based on a completeness multiplier to incentivize frequent and accurate submissions. This rewards retailers whose data submissions better reflect their underlying day-to-day transactions.
Quantity measures the amount of goods uploaded by merchants, rewarding those with larger inventories and higher-value items. Rewards become proportionate to the economic value of submitted data.
Quality assesses the reliability and authenticity of data submissions. Libera uses AI models to detect and penalize falsification, such as reducing rewards for fraudulent activity and using a network of verifiers to ensure data integrity.
Libera’s incentive mechanism motivates merchants to provide reliable data and reduces the risk of data falsification. Uploading consistent and higher quality data also increases the effectiveness of Libera’s AI recommendations, meaning retailers receive better insights for providing higher volumes of quality data.
The platform's backbone is Libera's proprietary Knowledge Graph technology, which integrates AI and data analytics. Libera’s AI engine produces powerful product recommendations to drive merchant engagement and revenue. Libera’s knowledge graphs also offer power tools for data buyers to analyze underlying demand trends in real time.
Data Monetization
Libera Global AI is a centralized company that monetizes transaction data and returns value to LIBE token holders. The company monetizes DePIN data by providing services to CPG brands and inventory wholesalers. Libera Global AI allocates 25% of sales proceeds to repurchasing LIBE tokens in the open market.
Direct Data Sales: The company sells granular retail data to corporate brands and fintechs, providing valuable insights for market analysis, consumer behavior, and credit risk assessments.
Distribution and Supply Chain Management Software: Libera provides AI-powered software that enhances inventory management, demand forecasting, and logistics for retailers and manufacturers. These addon services offer consistent subscription and licensing revenue.
Global CPG companies like P&G have already indicated interest in Libera’s data, where limited alternative data sources exist. Libera can also sell data and analytics to local emerging market brands, where companies like Callbay in Indonesia have also indicated interest in the product. Other buyers include wholesalers interested in data on inventory trends.
Figure 12: Libera Global AI – Value Chain
Libera will initially launch in Indonesia and on Polygon PoS.
Local partnerships help broaden merchant outreach.
Initial Launch
Libera is preparing an initial launch in Indonesia. Over time, the project can launch across all emerging markets; however, the team is initially focused on countries with large economies and meaningful crypto penetration among local users.
Libera will initially launch the LIBE token and Libera DApp on Polygon PoS, followed by Lisk network. Developers are agnostic towards Web3 ecosystems and plan to launch across multiple chains over time. In the near-term, Libera is focused on launching on EVM compatible L1s and L2s that have high user penetration in Libera’s target markets.
Indonesia
Indonesia has a population of over 278 million while smartphone penetration is nearly 90%. Indonesia’s population ranks 4th globally, while its $1.4 trillion economy ranks 16th (2023). Mobile transactions in Indonesia reached ~$50 billion in 2023, driven by widespread adoption of mobile payment systems and apps like OVO, DANA, and LinkAja (International Trade Association).
Indonesia ranked #7 in Chainalysis’ Crypto Adoption Index. According to the country’s Commodity Futures Trading Supervisory Agency (Bappebti), Indonesia had 19 million crypto investors in February 2024, or 7% of the total population. In February 2024, crypto transactions in Indonesia totaled ~$1.9 billion.
Figure 13: Population Penetration of Crypto investors (February 2024)
Polygon
Polygon has one of the most organic user bases in Web3, particularly among emerging markets users. Despite the influx of new Ethereum L2s, Polygon still ranks 4th among EVM chains by active wallets. Average daily active wallets reached 1.2 million in Q2:24, reflecting ~50% growth sequentially.
Figure 14: EVM Blockchains – Monthly Active Wallets (August 2024)
Polygon also retains high penetration in emerging markets such as India and Middle East, both of which Libera views as core markets. Polygon’s founding team is from India and has helped multiple Web3 projects raise hundreds of millions of dollars. Polygon’s local partnerships in India include:
Flipkart launched a Web3 loyalty program using Polygon’s Chain Development Kit (CDK), enabling Flipkart's customers to earn and redeem rewards on chain. This partnership enhances Flipkart’s user engagement through decentralized and transparent incentives.
West Bengal’s City Development Authority partnered with Airchains and Polygon Supernets to implement a blockchain-based land ownership system, marking a significant advancement in the state's digital infrastructure.
Lisk Network
Lisk is an Ethereum Layer-2 based on Optimism’s OP Stack. The L2 launched in May 2024 with a mission to address local challenges in emerging markets and help onboard the next billion users into Web3. As part of the Optimism Superchain, Lisk is committed to strategically investing in Southeast Asia.
Lisk has a partnership with Indonesia's Directorate General of Informatics Applications to support Web3 startups. The partnership aligns with Indonesia’s national ‘1000 Startup Digital Program’ by offering developer platforms, mentorship, and funding. Lisk is focused on incubating solutions for real-world assets (RWA), off-chain assets (OCA), and DePIN networks such as Libera.
Figure 15: Lisk – Cumulative Unique Wallet Addresses
Nano-Merchant Onboarding
Libera’s greatest constraint is onboarding individual micro-retailers, where there’s millions of ‘mom and pop’ stores across emerging market countries. Within Indonesia, Libera aims to onboard 500,000+ stores. Rather than reach out to retailers individually, Libera is leveraging relationships with suppliers to reach its target user base.
Libera is working with CPG companies, inventory suppliers and wholesalers to connect with nano-merchants. Within Indonesia, Libera is leveraging a network of 10,000 sub distributors that have direct relationships with each store. In return, these partners will gain access to Libera’s high quality data insights.
Local distributors and sub-distributors can recommend Libera’s app to micro-retailers while promoting LIBE’s token incentives. Libera is also using Web3 marketing channels to spread awareness in these countries, where Web3 users can promote the app via word of mouth. Worldcoin found success with a similar strategy, where over 6 million users have uploaded personal data in exchange for WLD tokens.
LIBE is participating in SingularityDAO’s launchpad and incubation program.
Libera’s tech roadmap includes micro-loans and deeper Web3 integrations.
Path to Mainnet
The Libera app and LIBE token are fully developed and ready to launch. Libera’s team has also connected with Indonesian suppliers interested in Libera’s data solution and retailer outreach. The team is now finalizing private investment ahead of a Q4:24 mainnet launch.
Libera will launch the LIBE token under SingularityDAO’s incubation program. SingularityDAO helps broaden awareness for emerging protocols by connecting token projects with individual investors. Its decentralized launchpad will help Libera raise additional funding when LIBE initially launches on Polygon and begins listing on centralized exchanges.
Figure 16: SingularityDAO – Funding Raised for Token Projects
Until LIBE’s token launch in Q4, Libera’s team is focused on Web3 marketing efforts and broadening exposure within the Web3 community. Private investment dollars are focused on building Libera’s community and maximizing engagement ahead of LIBE’s token launch.
Product Roadmap
Beyond its Q4 mainnet launch, Libera roadmap includes an expanded product offering and geographical footprint. This includes launching in more countries and expanding to new L1s and L2s. As Libera gains scale, the project can also develop and refine AI models to improve recommendation engines.
Figure 17: Libera Global AI – Product Roadmap
Web3 Integration. Libera’s target customers are traditional CPG and wholesale companies with minimal Web3 integrations. Rather than force customers to make purchases onchain, Libera is facilitating data sales offchain while using fiat dollar proceeds to repurchase LIBE tokens.
As Web3 becomes mainstream, Libera aims to transition data purchases onchain by making customers interact with the protocol directly. Customers would acquire data via stablecoins payments which would automatically repurchase LIBE tokens. This can enable a more decentralized marketplace between data suppliers (micro-retailers) and data buyers (inventory sellers).
Store Financing. Libera’s roadmap includes underwriting micro-loans to finance micro-retailer inventory purchases. By accessing retailers’ daily transaction data, Libera can optimize lending terms with better risk assessments. Companies like Block (formerly Square) offer similar services in developed markets, where Blocks’ access to POS data enables more efficient loan underwriting.
Micro-lending is already prevalent in emerging markets, particularly given limited access to banking. However, lenders’ inability to accurately underwrite risk can lead to predatory loan practices. Libera can offer more socially responsible lending practices by providing targeted financing for high-demand products.
Libera’s ESG narrative helps broaden project awareness.
Libera is growing its community ahead of mainnet launch.
Libera Community
Libera’s mission involves fighting poverty by empowering nano-merchants in emerging markets. Beyond just emerging market users, the project is building a community of Web3 natives who are interested in this mission. Libera’s ESG narrative is helping widen its exposure by capturing recognition from large Web3 organizations.
Crypto Knights. Libera is participating in the Crypto Knights TV show, a global Emmy-nominated show that blends "Shark Tank" with Web3. Crypto Knights features crypto startups pitching to prominent investors, including industry leaders and former CEOs of major exchanges. Libera is among 20 projects that will be showcased on Crypto Knight’s upcoming first season.
Block Chain for Good Alliance. Libera was also featured by BGA (the Blockchain for Good Alliance), which is a long-term, collaborative non-profit dedicated to using blockchain technology to address real-world challenges and promote societal good. BGA has established partnerships with key industry players, including Bybit Web3, Solana Foundation, Aptos, Moledao, Harvard Blockchain Club, and ICP. BGA has a growing community, with almost 17k followers on Twitter.
SingularityDAO. Libera is incubated by SingularityDAO, a decentralized portfolio management protocol designed to simplify crypto asset management. The platform offers safe and straightforward risk management and analytics tools for individuals. SingularityDAO’s growing community includes 94.2k Twitter followers, over 9.7k Telegram members, and 12.4k Discord members. This large audience is helping broaden awareness for the Libera project.
Libera Global Community
X (formerly Twitter): 49.2k followers (@LIBERA_GLOBALAI)
Telegram: 45k members (Telegram: Contact @liberaglobal)
Libera will allocate 25% of revenue to LIBE token buybacks.
Staking benefits incentivize micro-retailers to HODL LIBE tokens.
Value Accrual
LIBE an incentive and utility token for Libera’s DePIN network. Merchants earn LIBE token incentives for contributing data to the network. Libera repackages and sells this data to inventory suppliers, while using 25% of revenue to buyback LIBE tokens. This offers a sustainable value accrual, where token emissions are more than offset by buybacks.
Figure 18: Revenue, Cost and Burn Structure
LIBE Staking
Merchants can also stake LIBE for access to product recommendations and insights. Stakers can increase the breadth of insights provided by meeting certain staking thresholds. Libera’s insights and recommendations include which products to sell, where to buy inventory from, and the optimal quantity of inventory for each product. Beyond Libera’s AI recommendation engine, LIBE staking also grants access to discounts provided by Libera’s supplier partners.
The LIBE staking mechanism is designed to promote token retention, reduce sell pressure, and create a more stable ecosystem. As merchants contribute more data and stake more tokens, they receive increasingly valuable insights that enhances operational efficiency.
Token Supply and Distribution
LIBE will launch on Polygon with an initial circulating supply of 351M LIBE and a total supply of 5 billion. This implies 7% of supply will be circulating when LIBE begins trading. Of the total supply, over half is reserved for future growth initiatives such as token incentives, marketing and Libera’s treasury.
18% of LIBE tokens will be allocated for token incentives for bootstrapping adoption (i.e. onboarding micro-retailers). Over time, Libera aims to generate enough revenue for token buybacks to sustain token incentives without inflation. During early periods of adoption, the team does expect some selling from micro-retailers; however, this will eventually be offset by buybacks and growing staking rates.
Figure 19: Token Emissions vs Buybacks
LIBE offers real-world utility and positive value accrual.
Libera has a $25m revenue opportunity in Indonesia alone.
Rising DePIN Narrative
DePIN is among the hottest themes in Web3, where DePIN related protocols are some of the best performing tokens this cycle. Recent success from projects like Hivemapper and Helium are affirming DePIN’s narrative by capturing real world users and utility to Web3.
Figure 20: DePIN Token Performance YoY
We view LIBE as a differentiated asset within the DePIN thematic, particularly given Libera’s real-world utility for both CPG companies and micro-retailers. The project also offers sustainable value accrual to LIBE tokenholders, where 25% of Libera’s revenue is used for buybacks. This differentiates Libera from less sustainable DePIN projects that use continuous dilution to fund network incentives.
DePIN Segment Valuations
We compare LIBE to other DePIN projects that collect and synthesize real-world data. While each of these projects target different use cases, they all use a decentralized network to continuously collect real-world data in real time. Similar to Libera, many of these projects monetizes data offchain and use proceeds to return value to tokenholders.
Valuations of comparable DePIN projects vary between $40m to $400m. Within Libera’s peer set, we compare each project’s FDV its total addressable market. For example, HONEY’s $385m FDV is 1.5% of the $25bn in total revenue generated by the global mapping industry.
Across our peer set, DePIN FDVs range between 1% to 6% of their total addressable markets. Highly regarded projects like GEOD and DIMO trade at relative premiums, where real-world adoption has helped boost valuations. Alternatively, projects with lower adoption rates trade at lower ends of the range.
Figure 21: DEPIN Protocol FDV as % of Total Addressable Market
LIBE Sensitivity Analysis
Our sensitivity analysis implies a $90m to $450m FDV for LIBE after TGE. This range is 1% to 5% of Libera’s $9bn addressable. Libera’s largest competitor, NeilsenIQ, generates $4bn in sales annually. That said, Neilsen’s data offering is largely limited to developed markets and Libera has minimal competition in emerging markets where retail data capture is minimal.
As LIBE launches and retailers begin using the platform, we believe LIBE’s valuation can quickly reflect Libera’s growing adoptions FDVs for projects like HONEY and DIMO already exceed $150m despite capturing a small share of their target market. Alternatively, LIBE offers lower barriers to adoption than DePIN Peers. Unlike most DePIN networks, Libera does not have any hardware requirements for users contributing data to the network.
Figure 22: LIBE Scenario Analysis
In Indonesia alone, CPG companies generate over $10bn in sales annually (according to Future Market Insights). Libera Global AI estimates a revenue opportunity of $0.25 for every $100 of customer sales. This implies a $25m revenue opportunity in Liberia’s initial target market alone.
With 25% of token sales allocated to LIBE buy backs, the project has meaningful opportunity for value accrual. Unlike most DePIN projects, Libera has minimal competition within its target markets. With lower barriers and even lower competition, Libera could be among the first DePIN projects to achieve broad based adoption.
Libera faces regulatory risks in various emerging markets.
LIBE token volatility could reduce interest in Libera’s DePIN network.
We highlight key risks that may limit LIBE’s broader adoption, as well as risks related to protocol security.
Regulatory: Libera is taking a proactive approach to navigating local regulations, particularly in regions that are finalizing laws related to blockchain and tokenization. In Indonesia, the nation’s central bank is also drafting new regulations and Libera is closely monitoring changes to ensure compliance.
However, various regulatory environments could affect Libera’s operations in certain markets. Some emerging market economies are less accommodative to digital asset and blockchain industries, such countries that grapple with inflation. Libera’s focus on a wide number of markets makes it difficult to adapt to changing local laws.
Additionally, Libera must adhere to various regulations related to user data. Many countries require companies to host local data within the country of origin, further complicating operations across multiple jurisdictions. Similarly, privacy laws can vary by region, potentially limiting the breadth of Libera’s data collection.
That said, Libera’s potential to drive positive social developments may reduce risks related to regulatory challenges. While projects like Worldcoin have been criticized by local regulators, Libera’s focus on empowering local communities can lead to more accommodative regulators who are politically unmotivated to claw back Libera’s tangible benefits.
User adoption in emerging markets faces several risks, particularly as some retailers may be resistant to technology change. The introduction of new tech solutions could encounter skepticism, particularly if crypto carries a negative stigma among certain demographics.
Data quality. One of Libera’s key risks is ensuring quality data from retailers. To address these risks, the project reinforces its incentive mechanism by rewarding retailers with LIBE tokens for providing high-quality and complete data. This creates a direct link between data quality and financial benefits, motivating retailers to contribute accurate information.
LIBE Volatility. Token volatility could reduce retailers’ interest in contributing to Libera’s DePIN network. To mitigate these risks, Libera has structured retail rewards based on a fixed fiat value rather than a fixed number of LIBE tokens. This approach ensures that retailers receive consistent and predictable rewards, regardless of token price swings. However, even with a fixed-value mechanism, the inherent volatility and market cycles of the crypto market may limit retailers' interest in earning, staking or holding LIBE tokens.
Bugs & Exploits: Libera has yet to launch and could experience unforeseen risks disruptions from the Libera app and token creation/distribution.
Libera’s core contributors include entrepreneurs with a history of working in supply chain management industries across emerging markets.
Max Ward, Founder and CEO: Max’s experience includes a supply-chain strategist and a AI & Logistics expert. He also Founded OpenPort, Series A digital logistics startup active in 6 markets across Asia (raised $10m, sold in 2019). He is also a former DHL APAC and Clear AI executive. Max is a seasoned expert in data science, AI, machine learning, and blockchain, with over a decade of experience in the Asia-Pacific region. He has led initiatives to apply AI and machine learning to enhance supply chain efficiency and sustainability. Max earned an MBA in International Management from Thunderbird, Arizona.
Omid Pakseresht, Chief Product Officer: Omid leads Libera’s technology roadmap. He has led R&D for a wide range of solutions and data-driven products at companies like Clear AI, Dyad, and others. He co-founded GOODFOLIO, a AI-scaling business in 2021 and founded TransferGuru, a multi-award winning international money transfer comparison service for small and medium sized businesses in 2015. Omid graduated from the University of Oxford.
Jack Gillett, Blockchain & Data Advisor: Jack is a former Chief Data Officer at Cambridge Analytica, and the CEO and founder of Clear AO. He’s held diverse roles in product strategy and quantitative research at BitMEX, Paradigm, EQONEX and Shell Street Labs. Jack earned PhD in Chemical Engineering at Cambridge University.
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