Top Aussie Crypto Projects To Watch

Did you know WiFi was invented in Australia? Ultrasound scanners? Blackbox flight recorders?

Australia is a breeding ground for technological innovation — so what about blockchain? Australia is home to some world-leading blockchain projects!

In no particular order, here are some Aussie crypto projects to keep an eye on. 

Immutable X (IMX): Sydney

Immutable X is the first Layer 2 scaling solution for non-fungible tokens (NFTs) on Ethereum. It’s a cutting edge protocol for NFTs which enables projects to build on Layer 2 Ethereum with a fantastic developer and user experience, and enables instant trading, massive scalability and zero gas fees for minting and trading, all without compromising user or asset security.

Immutable X is the most technically advanced solution for NFT scaling ever built, developed with StarkWare’s powerful STARK prover and rollup technology. Immutable believes NFT users and developers shouldn’t have to choose between the security and network effects of Ethereum, and creating a world-class experience for their users. 
IMX is an ERC-20 utility token built for the purposes of rewarding pro-network activities on Immutable X, such as trading, liquidity provision and building applications. The token aligns incentives between traders, creators and marketplaces so that all participants benefit from protocol activity.

Oxen (OXEN): Melbourne

As the digital surveillance capabilities of governments and corporations continue to increase, projects like Oxen are doing their part to ensure the average joe has access to strong encryption technologies. Whether it’s trading, communication, or regular web browsing, Oxen has a privacy-first product to fill the need.

The Oxen team have developed two applications that demonstrate the power of their service node network, these are Session and Lokinet. 

Session is a decentralised messaging app that uses onion-routing and end-to-end encryption for secure and anonymous communication. With over 300,000 monthly active users, Session is one of the most used dapps in all of web3.

Lokinet is a high speed onion-routing protocol which provides anonymous internet access. Lokinet is compatible with all web browsers, because it can run in the background instead of needing a specialised browser or plugin — so the user experience is more similar to VPNs than Tor. Because of Lokinet’s modern protocol and network architecture, it is significantly faster and more lightweight than other onion-routers — it can even handle things like video streaming.

All Oxen apps rely on the service node network to function. Service nodes are Oxen’s specialised staked nodes which secure the proof-of-stake blockchain. Service node operators stake OXEN to secure the network and are rewarded with OXEN coins for their service.

The OXEN cryptocurrency is an instant transaction privacy coin. With complete fungibility, OXEN coins cannot be traced, nor can specific OXEN coins be blacklisted by centralised entities.

To tie the ecosystem together and to reduce service node emissions, Session and Lokinet have planned monetisation features for services on their network, though its’ planned to keep all Oxen apps free to use.

Power Ledger (POWR): Perth

Power Ledger is an energy trading platform that allows buyers and sellers to trade energy directly with one another and without the need to go through a centralised power company.

Power Ledger offers a trustless trading platform where consumers can sell energy to their peers, allowing consumers to monetise their excess energy production and access cheaper energy by buying it directly from other users on the platform.

A permissioned based blockchain allows Powerledger to build and scale energy projects across the globe, processing 50,000+ transactions per second since shifting from Ethereum to Solana. This scalable technology is fast, transparent and secure. Powerledger’s blockchain technology facilitates secure trading and mitigates settlement risk, whilst also providing an immutable and verifiable audit trail.
In 2021, Carlton United Breweries partnered with Power Ledger to power their VB Solar Exchange program, which enables participants to track and trade their excess solar energy for VB beer.

Redbelly Network

Redbelly Network is a real-world asset tokenisation project out of Sydney, Australia that went live in 2024. The protocol aims to foster the growing RWA industry by facilitating digital registries thanks to their patented Innovative Superblock scalability technology.

The project was born through technological experts from the University of Sydney and was founded by Vincent Gramoli, the Head of Concurrent Systems Research at UNS.