# AWP's Investment Potential

## Basic Info

<table><thead><tr><th width="213">Project name</th><th>All Weather Protocol</th></tr></thead><tbody><tr><td>Email address</td><td>service@awp-capital.com</td></tr><tr><td>Project Summary</td><td>All Weather Protocol is an intent-centric yield aggregator that empowers crypto holders to build secure, omni-channel diversified portfolios and earn high returns with just one click. Using advanced AA wallet technology, AWP also ensures full user control by enabling direct execution of trades from personal wallets, eliminating custody risks and agency concerns.</td></tr><tr><td>Sector</td><td>Intent > Intent-Based Transaction</td></tr><tr><td>Related trend</td><td>DeFi, Intents, omni-channel, AA Wallet</td></tr><tr><td>Ecosystem</td><td>Cross Ecosystem</td></tr><tr><td>Fundraising series</td><td>N/A</td></tr><tr><td>Raise target</td><td>1M, for angle round</td></tr><tr><td>Valuation</td><td>10M</td></tr><tr><td>Deal structure</td><td>10%</td></tr><tr><td>Minimum and/or maximum allowed ticket sizes</td><td>0.25M  (USD millions)</td></tr><tr><td>Expected token launch</td><td>N/A</td></tr><tr><td>Vesting/lock-up schedule for this funding round</td><td>N/A</td></tr><tr><td>Previously raised funding</td><td>N/A</td></tr><tr><td>Notable existing investors</td><td>[WIP]</td></tr></tbody></table>

### Product and vision

**Make cross-chain DeFi yield farming as easy and trustless as using a single app — fully self-custodial, automated, and optimized for everyday crypto users.**

## Product Analysis

### Unmet needs/problems in the market

* **\[DeFi is complicated]**\
  The DeFi product is complicated, especially for people in traditional finance. Our aim is to provide ***an intent-driven solution*** that is simple enough for users with limited knowledge to achieve a stable, high-yield portfolio with just a few clicks. By leveraging the ***AA wallet,*** we can even provide social logic for your AA wallet.<br>
* **\[Achieving optimal financial allocation is complicated]** \
  While users may not understand financial theory or the risk profile of each product, but with a few clicks, we apply all the best practices to their portfolio, including omni-channel diversification, cross-chain, high-yield pool monitoring, pool reliability checks... etc., users can still achieve high quality asset allocation.<br>
* **\[Trust is scarce resources on the blockchain]**\
  A major issue with traditional yield aggregators is the need for users to entrust their tokens to a third party agent or pool, which carries the risk of rug pulls. The All Weather Protocol addresses this by embracing diversification across both crypto assets and yield farming pools, effectively managing risk exposure. Additionally, with the latest AA Wallet, users retain full control of their assets, keeping them securely in their wallets at all times.

### Product uniqueness

* **Stable High Yields Across Omnichain in Just a Few Clicks**\
  All Weather Protocol monitors yield farming pools across multiple chains 24/7, identifying top performing opportunities with APYs above 15%, while dynamically adjusting the allocation to make such high yields stable and sustainable. As an aggregator focused on 'high yield' on the chain, we streamline the process of research, cross-chain transaction and rebalancing, allowing users to apply all the best practices to build a complex asset allocation and earn an above-average APY in just a few clicks.\
  \#high-yield #stabel #omnichain<br>
* **Diversified Strategies for Risk Mitigation and Avoiding Single Points of Failure**

  High returns often come with higher risks. To counter this, All Weather Protocol adopts robust diversification strategies at both token and pool level. With its powerful diversification engine, the protocol can search the omni-market for enough qualified audited targets, while proactively kicking out the unstable, high-risk pools to effectively reduce single points of failure.\
  \#diversification #blacklist #auditlist<br>
* **Seamless AA Wallet Integration with Non-Custodial Security**\
  All Weather Protocol pioneers integration with the AA Wallet, allowing you to hold all assets directly within your own wallet—no custodians or newly issued tokens required. Cold wallet support is also available. Currently, AA Wallet has already supported social login, and as it keeps evolving, features like transaction previews and Regular Savings Plans (RSPs) will deliver an even more user-friendly, secure, and stable on-chain investment experience.\
  \#non-custody #AAWallet #SocialLogin

### Product Scalability

**Technical/Product Perspective**\
AWP is a tool that enables market monitoring, one-click cross-chain portfolio creation and rebalancing, providing scalable service capacity with decreasing unit costs as users grow. From a product perspective, we operate in a vast asset management industry exceeding $130 trillion in AUM. By meeting users’ APY and risk expectations and adopting a robust expansion strategy, we can achieve significant horizontal scalability. Vertically, our decentralized portfolio builder can also serve agencies interested in creating their own portfolios or offering services like copy and social trading.

**Finance Perspective**\
While individual yield pools may hit capacity limits and experience declining APYs as capital pours in, AWP can maintains a higher ceiling by connecting to a broad range of yield pools across multiple chains. Acting like an on-chain aggregator for high-yield, BBB-rated bonds, AWP consistently pursues high-yield opportunities while creating a diversified portfolio to control risk. This dynamic approach allows AWP to achieve a theoretically higher APY than most common AAA-rated market solutions.

**Regulatory Perspective**\
While such products are highly attractive to non-blockchain users due to their relatively high returns compared to traditional finance and significantly lower risks than other blockchain products, the regulatory acceptance of blockchain investments in various countries will impact TAM in the long term. As a result, we plan to start with on-chain users. However, as regulations become more accommodating, we foresee a strong likelihood of entering traditional financial markets, and when that day comes, the industry will has its explosive growth.

## Market and Business Opportunity

### 🎯 Core Target Audiences

**1. Crypto-Native / DeFi Power Users**

* **Profile**: Individuals who already use multiple wallets, interact with protocols like GMX, Aave, Lido, and are comfortable with on-chain activities.
* **Pain Points**:
  * Managing assets across multiple chains is time-consuming and complex.
  * Manual farming, bridging, and rebalancing require high attention and constant monitoring.
* **Value Zap Pilot Provides**:
  * One-click deployment across multiple DeFi protocols.
  * Full asset custody via AA wallet — no smart contract lock-ins.
  * Abstracts away complexity while retaining composability and flexibility.

**2. Stablecoin Yield Farmers**

* **Profile**: Users who prefer stablecoin-based strategies for consistent yield, low volatility, and capital preservation.
* **Pain Points**:
  * Difficulty finding optimal stablecoin pools.
  * Manual allocation and yield tracking is tedious and inefficient.
  * Exposure to individual protocol risk due to lack of diversification.
* **Value Zap Pilot Provides**:
  * Auto-diversified deposits into high-performing stablecoin pools across chains.
  * Clear visibility into expected returns, with non-custodial safety.
  * Time-saving, simplified UI for optimized yield generation.

### TAM/SAM/SOM

#### TAM

**In a narrow sense**, our service targets users interested in DeFi, especially people participated in liquid staking, restaking, or landing. According to the 2024 Q3 Crypto Industry Report by CoinGecko, this market holds a TVL of $130 billion. Expanding to include ETH and BTC staking, the market size has the potential to increase by an additional $120 billion.&#x20;

**In a broader sense**, extending beyond current crypto holders places us in the asset management market, which, as per PwC, has $130 trillion in Assets Under Management (AUM). Assuming an ideal 5% allocation to crypto, this translates to a TAM of $6.5 trillion.

Reference:&#x20;

* <[`2024 Q3 Crypto Industry Report`](https://assets.coingecko.com/reports/2024/CoinGecko-2024-Q3-Crypto-Industry-Report.pdf?utm_campaign=2024-q3-crypto-industry-report\&utm_source=web\&utm_medium=buzz)>
* [ARK Invest Suggest 19.4% Bitcoin Allocation Plan For Optimal Returns](https://bitcoinist.com/ark-invest-suggest-19-4-bitcoin-allocation-plan/)

#### SAM

Considering that users of staking or DeFi lending services are the most immediately serviceable audience—given their existing knowledge of our offerings and ability to instantly grasp the benefits—the SAM for our service is estimated at $93 billion, based on the TVL of $60 billion in liquid staking/restaking and $33 billion in DeFi lending services.

#### SOM

We are still in the early stages, with limited marketing capabilities and relying primarily on word-of-mouth through the “3Fs” (Friends, Family, and Fools). As a result, our current SOM is approximately $10 million, based on a recent monthly TVL growth rate of $100K.

This is also why we are seeking funding to accelerate this process. Currently, our sales conversion rate is about 30% up, we do believe we have a high potential to scale up with certain facilitation.&#x20;

### Market Entrance Barrier

(New)

Today, the yield aggregator market is perceived as a niche and relatively unexciting segment of the blockchain ecosystem. Since 2022, it has lost its appeal as an investment hotspot due to factors such as high transaction costs, declining APYs, product homogeneity, and intense competition. It is neither a spotlight market nor characterized by rapid innovation. However, this lack of attention provides us with a short-term market entrance barrier, offering a less competitive environment in which to expand.

However, in the long-term, as new technologies such AA wallet keep improving the usability and crypto gain mainstream acceptance and potentially become part of traditional finance asset allocation strategies, this market could evolve from a technically driven DeFi yield aggregator narrative into the broader and more established domain of asset management. In this space, key market entrance will become regulatory compliance and trust, reinforced by strong branding.

This transformation aligns with our long-term vision. In the short term, we aim to move with the agility of a DeFi startup, capturing market share through technological innovation such as omni-channel capabilities and AA wallets. Once we have secured sufficient resources and market foothold, we plan to establish robust barriers to entry by building trust, strengthening our brand, and achieving regulatory compliance globally.

(Old)

Entering this market presents both opportunities and challenges. On the technical side, we’ve chosen to move away from using smart contracts for treasury management, opting instead for a pure JavaScript frontend. This allows faster development and ensures users avoid paying fees through third-party frontends. While this approach differentiates us, it’s not widely adopted by competitors.

From a broader perspective, the market itself offers unique dynamics. For centralized exchanges (CEXs), their focus on retaining assets under their control makes it unlikely for them to develop non-custodial, AA wallet-based DeFi solutions. Yield aggregators, on the other hand, rely on tokens for governance and asset management, which conflicts with adopting non-custodial models like ours.

While newcomers pose a potential threat, the asset management market is vast, and its current lack of appeal makes direct competition unlikely until we achieve initial success and prove this niche’s viability. This combination of technical and strategic positioning gives us a distinct edge in this space.

* Direct competition:&#x20;
  * Etherfi Liquid, SuperForm, Tokemak, Overnight
* Indirect competitors:&#x20;
  * Aave, Pendle and all other yield protocols<br>

### Competitive advantage

* **Leverage the AA Wallet to enable non-custodial asset management with best-in-class usability**

We are pioneers in integrating AA wallets into the yield aggregator space. This innovative, non-custodial solution allows risk-conscious investors to maintain full control of their assets directly in their own wallets. With the upcoming 2025 ETH Pectra upgrade, AA Wallet’s usability will significantly improve. Once its user experience reaches a generally acceptable level, crypto asset management will hit its “iPhone moment”—and we’ll be well-positioned as a competitive player in this new blue ocean market.

* **Diversified risk and avoided single point failure**

For those seeking diversification to mitigate potential risks, our platform goes beyond single-yield opportunities. We provide a diversified portfolio, targeting both token-level and pool-level strategies, designed to minimize the likelihood of irreversible asset loss and maximize risk-adjusted returns.

### **Critical risks and challenges**

* **Hacks and Technical Flaws**

Hacking incidents are rampant in the market, making security our top priority as an asset management service. To mitigate potential risks, we currently employ closed-source development, reducing our exposure to attacks. Beyond security, we maintain strict standards for asset pool selection, avoiding unaudited pools or those with excessively low TVL to minimize default risks. Even if these pools are compromised, we can still limit the impact through diversification.

* **Regulatory Limitation**

Compared to traditional asset management, the TAM for on-chain asset management is currently very small. However, if regulations become more favorable toward crypto, the market could expand dramatically, driving immense demand for stable, higher-yield crypto investments due to the far higher APY on-chain.&#x20;

Conversely, stricter regulations could severely limit product promotion and even render it illegal. The encouraging news is that current trends lean toward deregulation, making the coming years pivotal for industry growth.

* **Market Competition From Leading On-Chain Players**

Trust is the most important factor in asset management, so those big players entering the market can pose a significant competitive challenge. However, when traditional giants step in, we view it as a positive sign rather than a threat, as their presence can spark broader interest in crypto. Still, their size and regulatory requirements may confine them to AAA-level assets like BTC, ETH, and SOL, making it difficult for them to compete effectively in the yield aggregator space.

On the other hand, on-chain giants like Binance, OKX, and Coinbase present a tougher form of competition. Yet, the asset management market is vast, and history shows there’s always room for differentiation—whether by offering unique financial characteristics, operating as a boutique fund, or potentially being acquired by larger players seeking to expand their market reach.

* **APY goes down due to fund capacity limitation**

<figure><img src="https://3982128602-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FRjIlLSUQHJwnidHbFD3T%2Fuploads%2FCTNvTdNzMvcKcOzJjAND%2FScreenshot%202024-12-27%20at%2022.40.03.png?alt=media&#x26;token=ac699d93-ffbc-4321-9a0d-dbde84ea130c" alt=""><figcaption></figcaption></figure>

The yield farming industry can be likened to the bond market, with assets ranging from AAA-rated (high quality) to C-rated (high risk). Our solution targets the BBB middle tier, offering yields of 20–30%, higher than top-tier options like AAVE or CEX solutions. While these require careful pool selection and diversification to reduce risks, our AWP simplifies this process.

According to DeFi Llama, protocols offering APYs above 15% currently account for approximately $500M in total value locked (TVL). If we filter this to focus on audited pools with strong fundamentals and larger TVLs, the target TVL range for our strategy narrows to around $300M.

We hypothesize that our approach can support a fund capacity of at least $100M before APYs begin to decrease. As TVL in the BBB category grows and APYs adjust downward, market rankings will inevitably reshuffle. Despite potential shifts, the BBB category will persist, aligning with our strategic focus.

**Ref: APY snapshot on 2024-10-22, DeFI Llama**

| APY <5%     | 5,030,562,014 | 1178 |
| ----------- | ------------- | ---- |
| APY 5\~15%  | 5,949,073,147 | 659  |
| APY 15\~25% | 485,852,197   | 201  |
| APY 25\~35% | 14,947,638    | 41   |
| APY >50%    | 13,619,195    | 48   |

## Founder Profile

* David Chang:&#x20;
  * Data Engineer @ Dcard
* Adrian Wu:&#x20;
  * Senior Project Manager @ Microsoft
  * ex-product director, ex-monetization leader @Dcard&#x20;

Our founder, David, brings two years of dedicated experience in the DeFi industry, with hands-on expertise in developing web3 products. More importantly, he embodies the target audience for our service: all his assets are in crypto, and he lives by a diversified farming strategy, optimizing rewards and minimizing risk. As a "super user," David deeply understands the pain points and intricacies of risk control and profit farming—insights that few others share at his level.

Adrian, on the other hand, has a proven track record of startup success. As the 7th employee and a top individual shareholder at Dcard, a company poised to go public in Taiwan, Adrian has played a critical role in scaling the company from <10 to 400 employees and turning two products from idea to market success. Additionally, Adrian’s entrepreneurial experience includes founding Engineers at Tokyo, now part of TaiwanCareer, which places over 300 candidates in Japan annually. His deep expertise in growth, scaling, and operational excellence complements David’s product and domain focus, making the team uniquely positioned for success.

#### What drives you as founders in life?

David’s journey began in 2022 when he went all-in on blockchain, holding almost no fiat currency and relying entirely on decentralized systems. His deep understanding of blockchain risks and the need for steady returns drove him to develop a highly effective risk diversification strategy. However, the process was time-consuming, often requiring over four hours to rebalance his portfolio. To solve this, David started building tools to simplify portfolio management, which became the foundation of AWP. He believes that for blockchain technology to achieve widespread adoption, it must be supported by products that are simple, stable, and accessible to everyone. This is a once-in-a-lifetime opportunity to make a huge impact on the world.

Adrian, on the other hand, is passionate about startups. Building successful, impactful and lucrative businesses is part of his DNA, and that is what drives him to continuously dedicate himself in the startup world. Adrain started investing in ETH in late 2025. He learned this concept during a hackathon where his team also made the first DAPP ever in Taiwan. He invested about 1K in ETH and also participated in some ICOs initiated by some of his founder friends, which made him a fortune, but due to the instability of crypto in 2018, he soon lost this money and left the market. As a result, Adrain values stability investing more than any other, as he was a victim of it. He also believes that for blockchain technology to be widely adopted, it must be supported by products that are simple, stable and accessible to everyone.&#x20;

### Others

* **Seed Round Plan:** [awp-seed-round-plan](https://zap-pilot.gitbook.io/zap-pilot/awp-whitepaper/awps-investment-potential/awp-seed-round-plan "mention")
  * Goal: Validate the business model and prove profitibality
* **Long-term Growth Plan:** [awp-growth-vision](https://zap-pilot.gitbook.io/zap-pilot/awp-whitepaper/awps-investment-potential/awp-growth-vision "mention")
* **Business model:** [monetization-plan](https://zap-pilot.gitbook.io/zap-pilot/awp-whitepaper/awps-investment-potential/monetization-plan "mention")
* **Are you looking for any particular support from investors?**&#x20;
  * **Trust and endorsement** is the key to on-chain asset management, especially for a starter like us. As a result, we need strong support in marketing and PR, even GR.
  * **We need strong BD,** especially connecting to many independent wallet solutions or CEXs, since they can be the potential entrance of our service.&#x20;
