Pre-TGE projects are easy to get bullish on when the technology sounds impressive. But I think the better way to research them is to separate what’s already shipped from what’s still developing. @primus_labs is one of the privacy infrastructure projects on my research list, so here’s my scorecard across seven areas. Not a price prediction. Just products, technology and execution. … α/ Working Applications — 9/10 Primus has moved beyond cryptographic research. > Confidential Vault on BNB Chain > Proof-of-Reserves applications > zkTLS SDKs and verification contracts The Vault reportedly attracted $1M+ in encrypted deposits on day one. β/ Ecosystem Integrations — 9/10 Unitas, Brevis, Perena and AllScale cover different financial workflows. > Unitas: Reserves and confidential finance > Perena: Onchain reserve verification > AllScale: Encrypted payroll testing I like that these aren’t four versions of the same product. γ/ Developer Activity — 8.5/10 Primus’s GitHub shows active development. > zkTLS SDK and extension updates > FHE and MPC tooling > Reserve-verification repositories Multiple components are progressing simultaneously. δ/ Cryptographic Architecture | 9/10 zkTLS authenticates external information, while FHE enables encrypted computation. AutoHoG reportedly processes encrypted 64-bit transfers in ~90ms. The combination extends beyond private payments. ε/ Business Model — 8.5/10 Primus documents an institutional Proof-of-Reserves service offering: > Configurable verification > Public dashboards > Enterprise deployment > Subscription pricing There’s already a commercial product structure, even without disclosed revenue. ζ/ Security & Verification — 8/10 Public code, cryptographic documentation and verifiable computation provide a foundation for evaluating the architecture. Independent audits and production security evidence remain important. η/ Adoption Potential — 8.5/10 Confidential finance, reserve verification, payroll and authenticated financial data give Primus several potential customer categories. The next milestone is recurring usage across these applications. … Overall Research Score: 8.6/10 IMO, Primus has assembled something beyond a standalone privacy feature. There are working applications, developer infrastructure, financial integrations and a defined enterprise offering. The strongest part is how these components connect. > zkTLS establishes authenticity. > FHE protects computation. > Financial applications turn both into products. That’s why Primus remains one of my higher-conviction pre-TGE infrastructure projects. The next phase is converting that technical foundation into sustained commercial adoption.