New projects are being launched to enter the cryptocurrency space, with token generation events (TGEs) being crucial moments for any developing blockchain business.
In a TGE, a cryptocurrency project creates and distributes its tokens to retail investors, users, or the public. This is an important step in launching a new token, often occurring after the project has raised capital and developed its product.
Noteworthy TGEs this week
After a TGE, the tokens will be ready for trading or use within the project's ecosystem. A successful TGE can bring significant attention and liquidity to a cryptocurrency project, laying the foundation for the project's development. For retail investors, this is an opportunity to own tokens early. In many cases, these tokens are priced lower, with the hope that their value will increase as the project progresses. Here are the projects with TGEs this week.
#1. Bitfinity (BTF)
Bitfinity is an extended Bitcoin Layer-2 network built on the Internet Computer Protocol (ICP) with an Ethereum Virtual Machine (EVM). After completing a private fundraising round, raising $7 million, the project is now promoting a public token issuance through a launch pool. In its final fundraising round, the project raised $130 million with the support of Polychain Capital and ParaFi Capital, along with other investors.
"The numbers suggest that Bitfinity has the potential to transform the Bitcoin L2 landscape,"
Lunar Strategy stated.
The project is planning a Token Generation Event (TGE), a mainnet launch event, on November 19th at 10 AM. This event will also celebrate the project's milestone of surpassing 32 million transactions on the testnet. This achievement is the result of the unwavering dedication of the developers who have been actively building on the platform. The Bitfinity BTF token will be listed on the gate.io exchange.
#2. Zyfi (ZFI)
Zyfi is a fee-based service designed for easy integration. With a fundraising round of up to $2 million after being valued at $20 million in the previous round, the project is also planning a TGE on November 19th, with the specific time and exchange to be announced later. The project has partnered with PancakeSwap for the ZFI token launch.
"We are excited to partner with PancakeSwap, our long-standing fee partner, to provide liquidity for the ZFI token,"
Zyfi shared.
According to the post, the expected benefits of this collaboration include a ZFI-ETH yield farm with CAKE rewards, and two Syrup Pools for staking CAKE and ZFI with rewards up to $30,000. This partnership will also facilitate easy access to the ZFI token on a decentralized exchange.
#3. MicroGPT (MICRO)
This is an AI platform that provides developers with AI-powered tools and resources dedicated to improving software development efficiency. As an advanced AI platform, MicroGPT is designed to simplify and democratize software development for developers at all levels.
It is unclear how much capital the project has raised, but a TGE is planned for November 20th at 7 PM, and the MICRO token will be listed on the gate.io and MEXC exchanges. The valuation of the final fundraising round was $3.5 million.
"Get ready to power the future of programming with the powerful MicroGPT toolkit: Real-time coding suggestions, integrated IDE for seamless workflows, mobile apps, Chrome extensions, and more,"
MicroGPT shared.
#4. Ponder (PNDR)
Ponder is an AI-powered comparison tool for all web3 trends. It builds a solution that provides fully integrated comparison tools for cryptocurrency-based activities, supported by AI and EigenLayer. The project has raised $1.1 million in a private fundraising round after being valued at $10 million in the previous round. The listing exchange is Kucoin, and its TGE will take place on November 20th with a token price of $0.10.
However, prior to its TGE, the project will hold a non-refundable token sale on November 19th at 08:00 UTC. Token requests will begin on November 20th.
"Key benefits: Pioneer staking on EigenLayer, Tier 1 fund participation, Analyze and execute trades based on your preferences. Run community engagement initiatives, Tier 1 fund participation,"
Ponder detailed.
#5 MemeFi (MEMEFI)
This is a Web3 game that combines PvP and PvE gameplay. The amount of private capital raised is still unknown, but the project has achieved a valuation of $125 million in the previous round. The listing exchanges include OKX, Bitget, Bybit, and gate.io, with the TGE scheduled for November 22nd at 1 PM.
"MEMEFI/USDT trading will start at 13:00 on November 22nd (UTC),"
OKX announced.
Meanwhile, deposits and withdrawals will be made through the Sui (SUI) network for the MEMEFI listing on Bybit here.
While these projects' TGEs provide good entry points and introduce liquidity to the market, investors need to do their own research. As BeInCrypto has reported, factors to consider when evaluating a TGE include the project's tokenomics, compliance and regulatory standing, the blockchain it runs on, and the market conditions during the TGE.
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