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Messari's protocol reports give you a deep dive on the foundation and state of top crypto protocols, including key metrics and notable events. See the complete list of protocol reports here and get a preview of our latest report below.
AVAX mcap up 67% QoQ to $12.7B; first >$10B quarter of 2025, led by institutional initiatives
Two AVAX-focused vehicles (AVAT and AVAX One) announced with $1.1B committed (targeting $1.7B)
Grove Finance launched a $250M onchain credit strategy; RWA TVL on Avalanche up 252% QoQ to $677M
Avg daily txs across C-Chain + Avalanche L1s up ~137% QoQ to 36.5M; daily active addresses up ~277% QoQ to 19.8M
Oracle network providing real-time price data for crypto, equities, FX, and commodities
Total value secured (TVS) rose 15.6% QoQ to $6.14B, marking Pyth’s second consecutive quarter of growth
Launched Pyth Pro, a low-latency institutional data service offering 1ms updates across 2,200+ price feeds
Partnered with Blue Ocean Technologies to publish overnight U.S. equity data onchain and with the U.S. Department of Commerce to distribute GDP data via the oracle — a first for a federal agency
Helium reached $18.3M in annualized revenue, with all earnings now burned — directly linking protocol use to HNT token value
Over 5,452 TB of data was offloaded from major U.S. mobile carriers (+100% QoQ), as partnerships with AT&T, Telefónica, and others
461K+ Helium Mobile accounts (+48% QoQ) and 1.2M average daily users, driven by low-cost, crypto-native mobile plans and new coverage through LongFi and Movistar Mexico
Businesses and Wi-Fi providers can now join the network using existing routers, further decentralizing infrastructure participation
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Yesterday, Anichess’s long-awaited CHECK token launched on Base, Ethereum, and Abstract. The launch has generated growing interest, with the CHECK token attracting over $1 million in trading volume in just under 24 hours, while maintaining a $2.7 million market cap. Before we delve into CHECK, here’s a brief intro on Anichess.
What is Anichess?
Anichess is incubated by Animoca Brands and developed in partnership with Chess.com. Anichess is a browser-based strategy title that builds on classical chess by introducing spell-based mechanics and tactical modifiers. The game preserves the core structure of turn-based play but overlays it with an ability system that adds real-time decision complexity. To learn more, check out our recent report on Anichess.
CHECK Utility
Within Anichess, the CHECK token functions as a core utility asset, underpinning player progression, competitive access, and in-game customization. The CHECK token functions are as follows:
Compete and earn: Players use CHECK to enter ranked matches, tournaments, and high-stakes events, with rewards tied to verified performance rather than volume. As the competitive layer evolves, leaderboard milestones may also unlock airdrop eligibility and reputation markers.
Stake for progression: Staking CHECK yields Mate Points (M8), a non-transferable in-game currency that powers progression systems inside Anichess. M8 reflects consistency and unlocks perks, content, and skill-based advantages over time.
Create and curate: CHECK supports AI-assisted game design and educational content. Creators can submit initiatives for community curation, with top-rated entries earning CHECK-based rewards, tying recognition directly to output and peer validation.
Collect and access: CHECK can be used to unlock cosmetics, collectibles, and token-gated experiences tied to ecosystem milestones. As more applications come online, CHECK will gate advanced tools, modules, and seasonal drops.
Sponsor and govern: CHECK holders will eventually participate in shaping the network’s direction through Checkmate Improvement Proposals (CIPs), helping steer grants, integrations, and community-backed programs.
CHECK Tokenomics
CHECK has a total fixed supply of 1 billion tokens. Its allocation and vesting structure are designed to prioritize supporting players, creators, and ecosystem contributors, as well as long-term sustainability, while fostering sustainable network development.
It’s early for the CHECK token, but Anichess will be worth watching in the months ahead. The real test is whether it can hold attention and continue growing its player base. If it can bring more chess fans into this reimagined format, with spell mechanics and new twists on the classic game, it could carve out a unique space in both gaming and onchain strategy.
