Recently, with the recovery of the crypto market, on-chain liquidity has decreased, and hot money has begun to shift to the secondary market. Multiple protocols or projects that had previously remained inactive have accelerated their mainnet launches and token TGE processes, especially in the DeFi and L1 tracks. The teams have experienced a 'market baptism', optimizing token distribution strategies and increasing initial circulation to avoid liquidity dilemmas from high FDV models, while also increasing airdrop efforts to incentivize community participation.
Additionally, Bitcoin has paused its momentum as it approaches the $100,000 mark, with its market share slightly declining, raising market expectations for a 'altcoin season.' The meme trend continues, and VC coins also have hope. To help readers better understand market dynamics, BlockBeats has organized and listed some projects that are about to or have already TGE'd recently. This article is for communication purposes only and does not constitute any investment advice.
1. Magic Eden
Magic Eden, as a veteran multi-asset trading market focused on NFTs, announced in August this year that it will launch a token. According to official information, its token ME has a total supply of 1 billion; it will be fully distributed over 4 years, with 50.2% allocated to the community and an initial airdrop percentage of 12.5%. On November 23, the Magic Eden Foundation announced that the ME token will have its TGE on December 10. Airdrop eligibility and distribution queries will open on December 4.
Magic Eden, as a star project from back in the day, has total financing of $149 million, with participating institutions including Sequoia Capital, Paradigm, Greylock, and Coinbase Ventures. Related reading: (What preparations should be made before receiving the Magic Eden token airdrop?)
2. Berachain
Berachain is an EVM-compatible Layer 1 blockchain built on the Cosmos SDK; its tokenomics have not yet been disclosed. On September 18, Vance Spencer, co-founder of Framework Ventures, stated that Berachain's mainnet and token are expected to launch by the end of 2024. Berachain total financing is $142 million, with participating institutions including Framework Ventures, Polychain, OKX Ventures, and Amber Group. Related reading: (Interview with Berachain co-founder: The last fun public chain in the crypto space, aiming to carry on the grassroots movement)
3. Movement
Movement is an infrastructure based on the Move language. Its token MOVE has a total supply of 10 billion, which will be gradually unlocked over 5 years, with an initial circulation of about 22%, and 60% of the total supply will be allocated to the community. Airdrop claims are now open.
Movement total financing of $41.4 million, with participating institutions including Polychain, Binance Labs, Placeholder, and OKX Ventures. Related reading: (Interview with Movement Labs: What are the characteristics 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, with TGE to occur soon.
SynFutures total financing of $37.4 million, with participating institutions including Pantera Capital, Polychain, and Dragonfly. Related reading: (Interpretation of SynFutures, the culmination of the Base ecosystem)
5. XION
XION is a Layer 1 public chain with a chain abstraction concept. Its token XION has a total supply of 200 million, with 5% allocated for airdrop, TGE to occur soon.
XION total financing of $36 million, with participating institutions including Multicoin Capital, Animoca Brands, and Arrington Capital. Related reading: (Interview with XION: Will chain abstraction be the next mass adoption?)
6. Bluefin
Bluefin is an on-chain financial trading platform based on Sui. Its token BLUE has a total supply of 1 billion, with 17.15% allocated for airdrop, and airdrop queries are now open.
Bluefin total financing of $29.2 million, with participating institutions including Polychain, CMS Holding, and HTX Ventures. Related reading: (Supporting $500 million TVL, a look at Sui ecosystem DeFi projects)
7. WalletConnect
WalletConnect is a Web3 communication protocol. Its token WTC has a total supply of 1 billion, with 18.5% allocated for airdrop, and airdrop query is now open.
WalletConnect total financing of $23.5 million, with participating institutions including Union Square Ventures, 1kx, and Coinbase Ventures. Related reading: (Brief analysis of Web3 identity infrastructure: wallets, identity verification, 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 circulation of about 10%, TGE to occur soon.
Solv Protocol total financing of $22 million, with participating institutions including Blockchain Capital, OKX Ventures, and Waterdrip. Related reading: (No more hundredfold coins: Who will benefit from the industry's dividends in the new cycle? | 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 this airdrop accounting for 10%, and can be exchanged 1:1 for the mainnet native token MOZ, with TGE scheduled for December 6.
Lumoz total financing of $10 million, with participating institutions including Web3.com Ventures, NGC Ventures, and OKX Ventures. Related reading: (Opside rebrands to Lumoz, starting a new era of ZK-RaaS)
10. Sophon
Sophon is a modular blockchain project. The total token supply has not yet been disclosed, with 20% allocated for node distribution, and the mainnet is planned to launch on December 18.
Sophon total financing of $10 million, with participating institutions including Binance Labs, OKX Ventures, and HTX Ventures. Related reading: (Data comparison Aethir, Sophon, CARV, which node sales yield the highest profits?)
11. Swell
Swell Network is a liquid staking platform; the token SWELL has a total supply of 10 billion and has recently completed TGE.
Swell total financing of $3.75 million, with participating institutions including Framework Ventures, IOSG Ventures, and Apollo Crypto. Related reading: (Detailed explanation of Swell Network: Can it lead a new era of liquid staking?)
12. Hyperliquid
Hyperliquid is a decentralized trading platform that was once the hottest Perp DEX in the English-speaking world. The token HPYE has a total supply of 1 billion and has recently completed TGE. After the token went live, the price of HYPE skyrocketed, increasing nearly 5 times in less than 3 days. This airdrop of Hyperliquid distributed 310 million tokens, and even at an opening price of $2, the airdrop scale reached $620 million, making it one of the largest airdrop projects of the year.
Official information shows that Hyperliquid did not accept VC investments. The team stated: 'This allows them to focus on building products without external pressure.' Hyperliquid has put the entire trading platform, including the order book, on-chain, while democratizing the full liquidity provision strategy in the liquidity providers (HLP). In this way, the team does not benefit from Hyperliquid, resonating better with users. Related reading: (Interview with Hyperliquid: The hottest Perp DEX in the English-speaking area, how can it compete with dYdX?)
Projects upcoming TGE in the future
