Author: Alex Xu, Research Partner at Mint Ventures
1. Introduction
Recently, 4EVERLAND, a comprehensive Web3 cloud service provider that has been in operation for over 4 years, finally conducted its Token Generation Event (TGE). Starting from decentralized front-end hosting services, it has gradually expanded to include Web3 gateways, custom decentralized storage solutions, RaaS (Rollup as a Service), blockchain RPC, and AI RPC services, forming a product matrix centered around Web3 development needs.
In this article, the author will investigate some key issues of the project to provide readers with an intuitive impression of the project, including:
The core products and business content of the project, and the main customer groups
The business data situation of the project
Financing, major partners, and token model
This article represents the author's thoughts as of the time of publication, which may change in the future. The views expressed are highly subjective and may contain errors in facts, data, or reasoning logic. Criticism and further discussion from peers and readers are welcome, but this article does not constitute any investment advice.
The following is the main text.
2. Overview of 4EVERLAND's Business
4EVERLAND is a Web3.0 cloud computing platform that integrates storage, computing, and network core capabilities, making it a typical B2B project.
The underlying needs of 4EVERLAND include various requirements for computing, storage, and bandwidth that developers need. It integrates these resources into various tools and APIs that are convenient for developers to use, significantly lowering the threshold and cost for developers to independently connect to complex resources.
From the products that 4EVERLAND has launched, there are Dapp hosting services and storage services built on decentralized infrastructure, as well as AI RPC services based on traditional internet technologies like AI development. Additionally, 4EVERLAND has built the 4EVER Network, coordinating a series of resources (storage, computing, network bandwidth) on both the supply and demand sides. Specifically:
Dapp Application and Website Hosting
Websites built on centralized servers face many challenges, including censorship resistance and single points of failure (for example, after Tornado.Cash was sanctioned by OFAC, it became nearly impossible to find a front end that could be accessed directly). 4EVERLAND's hosting service can help developers host websites and decentralized applications (DApps) across multiple protocols, including IPFS, Arweave, ICP, and BNBchain's Greenfield, allowing developers to freely choose which underlying protocol to use for hosting.
In addition, 4EVERLAND's hosting service also provides some advanced features and capabilities, such as advanced caching (to improve the performance and response speed of websites or applications) and CDN functionality (to enhance access speed for websites and applications in different global regions), as well as automatic SSL certificate management and other security features, adapting to the gateway services of the hosting protocols, thereby reducing developers' maintenance costs on the product front end.
Currently, Dex syncswap on zkSync, the leading lending platform Venus on BNBchain, and Astar are all using 4EVERLAND's hosting services.
Storage
4EVERLAND can provide distributed storage services based on protocols like IPFS, Arweave, and Greenfield, greatly simplifying the way developers adopt distributed storage services. The 4EVERLAND API it provides is compatible with traditional cloud service AWS S3 API.
Currently, well-known decentralized voting governance platform Snapshot, decentralized identity protocol SpaceID, and Rollup project Taiko are all using 4EVERLAND's storage services.
RPC
RPC services can be simply understood as a "bridge" or "communication interface" between programs (such as wallets, DApps) and blockchains. Its role is to allow programs to communicate with the blockchain, retrieve data, or send instructions. 4EVERLAND provides RPC services for most mainstream chains, allowing Web3 developers to interact with various chains directly through APIs without needing to run their own clients.
Everpay and Permaswap in the Arweave ecosystem are currently using 4EVERLAND's RPC services.
RaaS
4EVERLAND's Rollup Stack uses OP Stack and Polygon CDK, and also incorporates Arweave data availability (DA), supporting Perma Blobs archiving services.
4EVER Network
In contrast to the modular services mentioned above, the 4EVER Network is a system that aggregates resources on the supply side. This system consists of two parts:
One is the DePIN Aggregator, which directly targets existing mainstream DePIN networks, such as IO.NET\Akash for computing power, Arweave for storage, and Fleek\Menson for bandwidth, aggregating these network resources for developers. This part is already online.
Currently, even leading DePIN network protocols have a large amount of idle network resources, and even among networks providing similar resources, their standards are not unified. The role of the DePIN Aggregator is to provide a unified DePIN resource interface for a large number of developers, offering customized, low-cost, and immediately available services, while supplying business demands to various idle DePIN networks.
The other part of the 4EVER Network is 4EVER Node, which directly aggregates various idle resources from users, including computing power, bandwidth, and storage, providing resources for developers. This part is still under development.
AI RPC
In addition to hosting, storage, RPC, RaaS, and 4EVER Network, 4EVERLAND also has an AI RPC business, providing a unified interface that connects to major AI models, allowing developers to access cutting-edge AI models more efficiently in their business.
Business Model
4EVERLAND's business model is relatively simple: users pay for the various services provided by 4EVERLAND. Currently, users have a certain amount of free usage, and after exceeding that limit, they need to pay based on the amount of resources used.
3. 4EVERLAND Business Situation
3.1 User Count
According to official disclosed data, as of now, 4EVERLAND has over 250,000 registered users who have generated resource consumption.
In addition, developers will link their GitHub accounts in the 4EVERLAND system. When code updates occur, requests will be pushed to 4EVERLAND, which will automatically help build and deploy the new version of the website.
Currently, the daily active number of updates from GitHub-linked accounts in 4EVERLAND is approximately 30,000+.
Update push flow of GitHub developers in 4EVERLAND
3.2 Storage
4EVERLAND is currently one of the top data storage service providers for Arweave and Greenfield.
In Greenfield, its storage volume over the past 7 days is 1.2GB, ranking 4th.
https://dappbay.bnbchain.org/ranking/chain/greenfield?sort=totalStorageSize
In Arweave, its 7-day Bundle storage volume is 397.6 MiB, ranking 8th.
https://viewblock.io/arweave/topStats?tab=bundles&time=seven
3.3 Protocol Revenue
The protocol fee situation of 4EVERLAND has not been open-sourced. According to information obtained from the team, 4EVERLAND's monthly revenue is currently between $40,000 and $50,000.
4. Financing, Partners, and Token Model
4.1 Financing Situation
4EVERLAND has conducted two rounds of public financing. The first round was in August 2021, raising $1.5 million, with investors including Distributed Capital, FBG Capital, Bixin Ventures, Mint Ventures, and others; the second round of financing was in December 2023, raising $2 million, with investors including Arweave, Waterdrip Capital, Bing Ventures, Arweave SCP Ventures, GTS Ventures, Web3.com Ventures, Hillstone Finance, Forward Research, among others, with specific financing valuations not disclosed.
In addition, 4EVERLAND has also received multiple official grants from BNBChain, Polygon, Optimism, IPFS, Arweave, and ICP.
4.2 Partners
In the ecosystem partner map listed by 4EVERLAND the day before, in addition to some representative projects mentioned in the business sections, many public chains or L2 projects also have in-depth cooperation with 4EVERLAND. Through the services provided by 4EVERLAND, developers can more efficiently and conveniently develop and maintain projects on public chains. Some public chains and Rollup ecosystem parties also directly purchase services from 4EVERLAND; for example, Taiko is using 4EVERLAND's gateway services and utilizing storage services to manage project NFTs.
4.3 Token Model
On December 9, 4EVERLAND announced its token model, with the following details:
The project has a dual-token system, where Land is the payment token, priced in USD, used to pay for various resource fees and to repurchase the governance token 4EVER; 4EVER is the governance and utility token.
The total supply of 4EVER tokens is 10 billion, issued on Ethereum.
The specific token distribution is as follows:
Node rewards 40%, community funds 15%, operational funds 10%, user rewards 5%, with the remaining portion including token sales 15%, core team and advisors 12%, and initial liquidity and market-making funds 3%.
According to the current secondary market price (December 16), the FDV corresponding to the 4EVERLAND project is only about $6 million, and the current circulating market value is merely $4.8 million.
5. Conclusion
As a Web3.0 cloud service platform that integrates storage, computing, and network core capabilities, 4EVERLAND aims to provide convenience in resources and tools for Web3 developers. Additionally, the 4EVER Network it has built is a system that aggregates resources on the supply side, matching developer demands with various currently underutilized DePIN networks, while also providing developers with lighter, cheaper, and more diverse comprehensive Web3 resources. With the further advancement of the Web3 industry and the expansion of the developer community, the resource demands on the Web3 D-end will also expand, and 4EVERLAND will benefit from this.
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