Original author: Nancy
Original source: PANews
Rebranding is often an important way to regenerate brand vitality and enhance brand competitiveness. Currently, there are many projects in the Web3 field that are undergoing brand renewal and upgrades, and they are widely used by the market due to the frequent "name change market" Consider it a good subject.
PANews took stock of the brand upgrade projects in the past year and found that these projects have made varying degrees of innovation in brand image, market positioning and strategic planning due to factors such as competitive differentiation, market hot spots, transformation and upgrading, and the brand After the reshaping, the currency price also showed a strong trend, with an average maximum increase of nearly 243.5%.
ON Mainnet（OP）
The Layer2 star project Optimism was renamed OP Mainnet in June last year to reflect its goal of creating a "super chain" composed of multiple L2 networks. OP Mainnet will serve as the base layer of the "super chain". CoinGecko data shows that as of March 15, the currency OP has experienced a maximum increase of 239.1% after the brand upgrade, and the current circulating market value exceeds US$3.92 billion.
Mantle（MNT）
In May last year, the proposal to merge BitDAO with the Layer 2 network Mantle Network and convert BIT tokens into tokens MNT at a 1:1 ratio was approved. Binance data shows that as of March 15, MNT’s highest increase since the launch of the mainnet Alpha version was approximately 126.4%, and the current circulating market value is US$2.95 billion.
Beam（BEAMX）
Merit Circle is a chain gaming association. In October last year, it announced that it would upgrade its brand to Beam and replace its original token MC with BEAMX. Binance data shows that as of March 15, its token BEAMX has experienced a maximum increase of nearly 814.9% since the token swap upgrade, and the current circulating market value is US$1.98 billion.
Avara (AAVE)
In November 2023, the blockchain technology company Aave Companies announced that it would change its name to Avara and become the parent company of the lending protocol Aave, Web3 social project Lens (tokens have not yet been issued), the stable currency GHO, the metaverse mobile application Sonar and other brands. Among them, Aave was originally named ETHLend and was renamed as early as September 2018. CoinGecko data shows that as of March 15, the price of Aave token AAVE has increased by more than 56.7%, and the current circulating market value exceeds US$1.91 billion.
Ribbon Finance (RBN)
In July 2023, Ribbon Finance, an on-chain structured product, passed a proposal to merge into its options trading platform Aevo and set Aevo as a new brand name. At the same time, it also abolished the original token RBN and launched a new token AEVO. Convert in 1:1 ratio. Aevo has raised US$16.6 million in 3 rounds of financing and recently launched an airdrop plan. Amber Group and Wintermute are alleged to be the market makers of AEVO tokens.
CoinGecko data shows that as of March 15, the highest increase in the currency RBN after the merger proposal exceeded 780%, and the current circulating market value is US$1.36 billion.
Vanar（VANRY）
In November last year, the Metaverse project Virtua announced the brand upgrade of the Layer 1 blockchain Vanar Chain. The token TVK can be exchanged for VANRY at a 1:1 ratio. Vanar Chain has received US$2.5 million in financing from NGC Ventures, LD Capital, YBB Foundation and Hashed in 2020, and recently reached a cooperation with AI giant Nvidia.
CoinGecko data shows that as of March 15, the price of VANRY, which has been online since the news of the name change, has increased by as much as 445.1%, and its current circulating market value exceeds US$400 million. At the same time, TVK has also increased by as much as 639.1% due to the news, and its current circulating market value is US$54.321 million.
Ninety Eight（C98）
Vietnamese crypto company Coin98 Finance announced in November last year that it would change its name to Ninety Eight. The token C98 will continue to be the core token of the Ninety Eight ecosystem and will provide more utility and value. CoinGecko data shows that as of March 15, C98 has experienced a maximum increase of more than 144.4% after the brand upgrade, and its current circulating market value exceeds US$280 million.
Bounce Brand（AUCTION）
Bounce Finance is a decentralized auction platform that has received institutional investment from Coinbase, Pantera, Hashed and Fundamental Labs. In December 2023, Bounce Finance announced the brand upgrade to Bounce Brand. Its products include Bounce Bit, a Bitcoin-based application chain, Bounce Box to explore BTC DeFi, and Bounce Auction, a BTC-related auction platform.
CoinGecko data shows that as of March 15, its token AUCTION has increased by as much as 150.3% since the brand upgrade, and its current circulating market value is US$158 million.
AllianceBlock（NXRA）
In February this year, AllianceBlock, a decentralized tokenized financial infrastructure platform, not only announced that it would launch the compliant tokenization protocol Nexera Finance, but also revealed that the project would be renamed Nexera Foundation, dedicated to developing ecosystem DAOs and enhancing the use of native NXRA tokens. Practicality. AllianceBlock received a US$100 million investment from the Binance Acceleration Fund, and in early 2023, it lost US$88 million with BonqDAO in an attack.
CoinGecko data shows that as of March 15, NXRA has experienced a maximum increase of more than 49.2% since the name change, and the current circulating market value is US$130 million.
Viction（VC）
The scalable blockchain TomoChain announced last year that it was renamed Viction and the token TOMO was changed to VIC, aiming to have a profound impact on humanity and the Web3 community through blockchain technology. Viction has received investment from Coin98 Labs and a seven-figure lock-up token investment from DWF Labs.
CoinGecko data shows that as of March 15, VC has shown a continuous downward trend after the brand upgrade, with a peak exceeding 62.9%, and the current circulating market value exceeds US$96.814 million.
Lumia（ORN）
DeFi project Orion Protocol once lost more than $3 million due to an attack, and the stolen funds were later returned. In March this year, Orion Protocol announced that it would rebrand as DeFi infrastructure Lumia and received strategic investment from DWF Labs. The market maker agreed to lock the ORN tokens it purchased for 12 months. CoinGecko data shows that as of March 15, the token ORN has increased by nearly 41.4% after the brand upgrade plan was announced, and its current circulating market value is US$80.152 million.
dForce（DF）
DeFi protocol dForce announced in November 2023 that the governance proposal to rename dForce Lending to Unitus had been passed. The project had lost $3.65 million due to an attack but was returned by the attacker. CoinGecko data shows that as of March 15, the price of the currency DF has increased by more than 72.2% since the name change, and the current circulating market value exceeds US$43.957 million.
StaFi（FIS）
At the beginning of this month, the liquidity staking protocol StaFi released the upgrade and rebranding plan StaFi 2.0, which will be rebranded in stages, including changing from the multi-chain LSD protocol to the LSD Infra Layer, the native token FIS will be renamed, and the introduction of a destruction mechanism. CoinGecko data shows that as of March 15, the token FIS has increased by nearly 82.4% in the past half month since the news of the rebranding plan was announced, and the current circulating market value is US$41.695 million.
Wagmi (WAGMI)
The encryption project Wagmi is the rebranding of the cross-chain income platform Popsicle Finance launched by Daniele Setagalli, founder of Abracadabra, the issuer of algorithmic stablecoin MIM, in September last year. The project once suffered a loss of US$25 million after a hacker attack. The original token ICE can Redeem for WAGMI tokens. In January this year, Wagmi announced a cooperation with DWF Labs, which had purchased tens of millions of WAGMI tokens.
CoinGecko data shows that as of March 15, the price of WAGMI has increased by as much as 114.2% since the launch of the project, and the current circulating market value is US$25.771 million.
Port3 Network（PORT3）
Web3 social data website Port3 Network announced at the end of February this year that it had completed a brand upgrade and upgraded to a decentralized AI data network. It will standardize and distribute data processing by integrating on-chain and off-chain data sets to create a globally accessible AI data layer. Following a US$3 million seed round of financing, Port3 Network announced in August 2023 that it had completed a new round of financing of several million US dollars, as well as received grants from companies such as Binance Labs, and announced again a few months later that it had received investment from DWF Labs.
CoinGecko data shows that as of March 15, the token PORT3 has risen by nearly 203.4% after the brand upgrade.
