Recently, with the recovery of the crypto market, on-chain liquidity has decreased and hot money has started to shift to the secondary market. Multiple previously inactive protocols or projects have accelerated the mainnet launch and token TGE process, especially the DeFi and L1 tracks becoming the main force. Teams have experienced "market baptism" and are working to optimize the token distribution strategy, increase the initial circulating supply, and avoid the liquidity dilemma of high FDV models, while also increasing the airdrop efforts to incentivize community participation.
In addition, Bitcoin has temporarily slowed its momentum as it approaches the $100,000 mark, and its market share has been declining slightly, which has also sparked market expectations for the "altcoin season". The MEME trend continues, and VC tokens also have hope. To help readers better understand the market dynamics, BlockBeats has compiled and listed some upcoming/recently TGE projects. This article is for discussion only and does not constitute any investment advice.
1.Magic Eden
As a veteran multi-asset trading platform focused on Non-Fungible Tokens, Magic Eden officially announced the launch of its token ME in August this year. According to official information, the total supply of ME is 1 billion, to be fully distributed within 4 years, with 50.2% allocated to the community and an initial airdrop ratio of 12.5%. On November 23, the Magic Eden Foundation stated that the ME token will undergo TGE on December 10. The airdrop eligibility and distribution query will be open on December 4.
As a star project of the year, Magic Eden has raised a total of $149 million, with investors including Sequoia Capital, Paradigm, Greylock, and Coinbase Ventures. Related reading: 《Magic Eden Token to Undergo TGE Soon, What Preparations Should Airdrop Recipients Make?》
2.Berachain
Berachain is a Layer 1 blockchain built on the Cosmos SDK and compatible with EVM. Its token economics have not yet been disclosed. On September 18, Framework Ventures co-founder Vance Spencer stated that Berachain's mainnet and token are planned to be launched by the end of 2024.
Berachain has raised a total of $142 million, with investors including Framework Ventures, Polychain, OKX Ventures, and Amber Group. Related reading: 《Interview with Berachain Co-founder: The Last Fun Public Chain in the Crypto World, Grassroots Movement to the End》
3.Movement
Movement is an infrastructure based on the Move language. Its token MOVE has a total supply of 10 billion, to be gradually unlocked over 5 years, with an initial circulating supply of around 22%, and 60% of the total allocated to the community. The airdrop application is now open.
Movement has raised a total of $41.4 million, with investors including Polychain, Binance Labs, Placeholder, and OKX Ventures. Related reading: 《Interview with Movement Labs: What Are the Features of the Modular + MOVE Invested by Binance Labs?》
4.SynFutures
SynFutures is an on-chain derivatives trading market on Base. Its token F has a total supply of 1 billion and will undergo TGE in the near future.
SynFutures has raised a total of $37.4 million, with investors including Pantera Capital, Polychain, and Dragonfly. Related reading: 《Interpreting SynFutures, the Culmination of the Base Ecosystem》
5.XION
XION is a Layer 1 public chain with the concept of chain abstraction. Its token XION has a total supply of 200 million, with a 5% airdrop ratio, and will undergo TGE in the near future.
XION has raised a total of $36 million, with investors including Multicoin Capital, Animoca Brands, and Arrington Capital. Related reading: 《Dialogue with XION: Will Chain Abstraction Be the Next Mass Adoption?》
6.Bluefin
Bluefin is a on-chain financial trading platform based on Sui. Its token BLUE has a total supply of 1 billion, with an airdrop ratio of 17.15%, and the airdrop query is currently open.
Bluefin has raised a total of $29.2 million, with investors including Polychain, CMS Holding, and HTX Ventures. Related reading: 《Supporting $500 Million TVL, A Review of DeFi Projects in the Sui Ecosystem》
7.WalletConnect
WalletConnect is a Web3 communication protocol. Its token WTC has a total supply of 1 billion, with an airdrop ratio of 18.5%, and the airdrop query is now open.
WalletConnect has raised a total of $23.5 million, with investors including Union Square Ventures, 1kx, and Coinbase Ventures. Related reading: 《Analysis of Web3 Identity Infrastructure: Wallets, Identity Proofs, and Privacy Systems》
8.Solv Protocol
Solv Protocol is a Bitcoin staking protocol; its token SOLV has a total supply of 8.4 billion, with an initial circulating supply of around 10%, and will undergo TGE in the near future.
Solv Protocol has raised a total of $22 million, with investors including Blockchain Capital, OKX Ventures, and Waterdrip. Related reading: 《The Industry Dividends of the New Cycle No Longer Belong to 100x Coins: DripEcho 2.0XSolv Protocol》
9.Lumoz
Lumoz is a modular computing layer and RaaS platform; its token esMOZ has a total supply of 10 billion, with a 10% airdrop ratio, and can be exchanged 1:1 for the mainnet native token MOZ. The TGE will be held on December 6.
Lumoz has raised a total of $10 million, with investors including Web3.com Ventures, NGC Ventures, and OKX Ventures. Related reading: 《Opside Rebrands to Lumoz, Ushering in a New Era of ZK-RaaS》
10.Sophon
Sophon is a modular blockchain project. The token total supply has not yet been disclosed, with 20% allocated to nodes, and the mainnet is planned to be launched on December 18.
Sophon has raised a total of $10 million, with investors including Binance Labs, OKX Ventures, and HTX Ventures. Related reading: 《Data Comparison of Aethir, Sophon, CARV, Which Node Sales Offer the Highest Returns?》
11.Swell
Swell Network is a liquidity staking platform; the total supply of the token SWELL is 1 billion, and the TGE has been completed recently.
Swell has raised a total of $3.75 million, with participating institutions including Framework Ventures, IOSG Ventures, and Apollo Crypto, among others. Related reading: 《Explaining Swell Network: Can it Lead the New Era of Liquidity Staking?》
12.Hyperliquid
Hyperliquid is a decentralized trading platform, and it was once the hottest Perp DEX in the English-speaking crypto community. The total supply of the token HYPE is 1 billion, and the TGE has been completed recently. After the token listing, the price of HYPE has been soaring, increasing nearly 5 times in less than 3 days. In this airdrop, Hyperliquid distributed a total of 310 million tokens, which, even calculated at the opening price of $2, amounts to a scale of $620 million, making it one of the largest airdrops of the year.
According to official information, Hyperliquid has not accepted VC investment. The team stated: "This allows them to focus on building the product without external pressure." Hyperliquid has placed the entire trading platform, including the order book, on-chain, and has also democratized the complete liquidity provision strategies of Liquidity Providers (HLP). In this way, the team will not benefit from Hyperliquid, better resonating with users. Related reading: 《Interview with Hyperliquid: The Hottest Perp DEX in the English-speaking Crypto Community, What Makes it Able to "Compete" with dYdX?》
Welcome to join the official BlockBeats community:
Telegram subscription group: https://t.me/theblockbeats
Telegram discussion group: https://t.me/BlockBeats_App
Twitter official account: https://twitter.com/BlockBeatsAsia
