Fundamental take: Tixl, enabling a new era of DeFi, payments & banking
I’ve been looking at Tixl over the last few weeks. Made of a mention of it briefly in the monthly newsletter. It’s lower than the price I got into, currently trading at $0.52. But really not concerned on this. Personally I think this is extremely undervalued, undiscovered, has sound fundamentals, and will have its moment of glory. Ofcourse, as always, crypto investments can be risky. So do your own research. All projects have inherent risks, one of the biggest being unable to deliver on plans and promises.
My intent here is to introduce this project, try and explain what it does, why I like it and where it could potentially go. Again, this is not financial advice. Treat it as a guide and do your own research before you take the leap into a project.
What is Tixl?
- It’s a German company which is building an interoperable blockchain platform. For those not acquainted with interoperability, it is the ability to access information across different blockchain systems. So, Tixl’s platform aims to offers developers the ability to build interoperable dApps & Smart Contracts.
- Tixl is doing so by creating a platform called the Autobahn network. As is the case with the German Autobahn network of highways, one of the world’s largest, enabling faster speeds and hassle-free driving, Tixl’s Autobahn network is focussed on instant & minimal-fee-transactions for any transfer of data.
- The first chain integrated on the network is BTC. ERC20 support is currently being tested.
- The platform finds use cases across areas including banking and payment solutions, data solutions, swaps and so on
Who’s behind Tixl?
The team looks incredibly experienced. It’s headed by Christian Eichinger and Sebastian Gronewold, both carrying strong experience in software development. Then there’s Bernd Strehl, who’s the CTO and Dr. Max Muelke, who’s the product and marketing officer with experience of nearly 15 years. It’s an experienced team with some strong advisors.
Looks great on this point, which is why I’m optimistic on this in the longer term and willing to wait it, till it gets discovered. Feel that’s bound to happen.
Here’s a look at the entire team if you’re interested.
Why I like it and where this could go?
Okay. So the field of interoperability is getting competitive and crowded. There are projects which will succeed and reap great dividends and there are many more which will fail. What gives me confidence in this project is a strong team, which is focused on building something big, rather than putting out a roadmap that’s only concerned with token price growth. That’s important, of course, but utility matters.
There was an interesting tweet put out by the founder Christian yesterday (ignore the survey here maybe, what caught my eye was the honesty “If you invest, give us time. An interoperable network is not built in days“,
They’ve got a packed roadmap and obviously delivery on this is extremely important. They’ve been active in delivering along that path so far. Developments in recent months has included,
- Bitcoin integration
- Autobah network Mainnet v0.1
- Tixl wallet
Here’s what Christian has to say on this journey, “Our plan was to achieve the Proof of Concept by December 2020. And we did. You can send BTC back and forth instantly and for free already. In the next step, with ETH and ERC20 coming, we will solve the same pain points for Ethereum and get rid of gas fees in Ethereum transfers“.
At the current price of $0.52, the project is valued at $33.6 million. I strongly believe that given its fundamentals, Tixl warrants a way higher valuation. Listed on a limited number of exchanges currently, that leaves on the table the option for major listings going ahead. So, a bunch of triggers waiting here. As I said, I’m happy holding this.
Note: If you’re starting of with cryptocurrencies, here’s a very useful link by Max, Chief Product & Marketing Officer, which really delves into some real basics and how you can make your first investment.