OPRR Flash Depth Activities

Search Extension

Market Recovery and Airdrop Craze Resurgence, Upcoming Token Generation Events (TGEs) Overview

Lila

24-12-03 14:42

Read this article in 16 Minutes

AI summary

View the summary

Recently, with the recovery of the crypto market, on-chain liquidity has decreased, and hot money has started to move to the secondary market. Several previously stagnant protocols or projects have accelerated their mainnet launch and token TGE process, especially in the DeFi and L1 tracks. Teams have undergone a "market baptism," optimizing their token distribution strategy, increasing initial circulation to avoid the liquidity dilemma of a high FDV model, while also increasing airdrop efforts to incentivize community participation.

Additionally, as Bitcoin approaches the $100,000 milestone, it has paused its momentum, and the current consecutive slight decline in market dominance has also sparked the market's eager anticipation of the "altcoin season." The meme trend continues, and VC coins also have hope. To facilitate readers' better understanding of the market trends, BlockBeats has compiled and listed some of the projects that are upcoming or have already conducted TGE recently. This article is for communication purposes only and does not constitute any investment advice.

1. Magic Eden

Magic Eden, as a well-established NFT-focused multi-asset trading platform, announced in August this year that it will launch its token. According to official information, its token ME has a total supply of 1 billion; it will be distributed over 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 conduct its TGE on December 10. Eligibility for airdrops and distribution inquiries will be open on December 4.

As a star project of the year, Magic Eden raised a total of $149 million, with participating institutions including Sequoia Capital, Paradigm, Greylock, and Coinbase Ventures, among others. Related reading: "Magic Eden Token Will TGE Soon, What Preparations Should Be Made to Claim the Airdrop?"

2. Berachain

Berachain is a Layer 1 blockchain built on the Cosmos SDK that is EVM-compatible; its tokenomics have not been disclosed. On September 18, Vance Spencer, Co-Founder of Framework Ventures, stated that Berachain's mainnet and token are planned to launch before the end of 2024.
Berachain raised a total of $142 million, with participating institutions including Framework Ventures, Polychain, OKX Ventures, and Amber Group, among others. Related reading: "Exclusive Interview with Berachain Co-Founder: The Most Fun Public Chain in the Crypto World, Committed to Supporting Grassroots Movements to the End."

3. Movement

Movement is the infrastructure based on the Move language. The total supply of its token MOVE is 10 billion, which will be gradually unlocked over 5 years, with an initial circulating supply of around 22%, and 60% of the total supply will be allocated to the community. Airdrop claiming is now open.

Movement raised a total of $41.4 million, with participating institutions including Polychain, Binance Labs, Placeholder, and OKX Ventures, among others. Related reading: "Exclusive Interview with Movement Labs: What are the characteristics of the modularized + MOVE invested by Binance Labs?"

4. SynFutures

SynFutures is an on-chain derivatives trading market built on Base. The total supply of its token F is 1 billion, and the TGE will take place soon.

SynFutures raised a total of $37.4 million, with participating institutions including Pantera Capital, Polychain, and Dragonfly, among others. Related reading: "Decoding SynFutures, the Convergence of the Base Ecosystem"

5. XION

XION is a Layer 1 public chain based on a chain abstract concept. The total supply of its token XION is 200 million, with a 5% airdrop allocation, and the TGE will take place soon.

XION has raised a total of $36 million, with participating institutions including Multicoin Capital, Animoca Brands, and Arrington Capital, among others. Related reading: "In Conversation with XION: Will Chain Abstraction be the Next Mass Adoption?"

6. Bluefin

Bluefin is an on-chain financial transaction platform based on Sui. Its token BLUE has a total supply of 1 billion, with an airdrop allocation of 17.15%, and the airdrop query is now open.

Bluefin has raised a total of $29.2 million, with participating institutions including Polychain, CMS Holding, and HTX Ventures, among others. Related reading: "Supporting a $500 Million TVL, Overview of Sui Ecosystem DeFi Projects"

7. WalletConnect

WalletConnect is a Web3 communication protocol. Its token WTC has a total supply of 1 billion, with an airdrop allocation of 18.5%, and the airdrop query is now open.

WalletConnect has raised a total of $23.5 million, with participating institutions including Union Square Ventures, 1kx, and Coinbase Ventures, among others. Related reading: "An Analysis of Web3 Identity Infrastructure: Wallets, Identity, 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 the Token Generation Event (TGE) will take place soon.

Solv Protocol raised a total of $22 million, with participating institutions including Blockchain Capital, OKX Ventures, and Waterdrip, among others. Related reading: "No More Hundredfold Coins: Who Will Benefit from the Industry Dividend of the New Cycle? | DripEcho 2.0 x Solv 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% allocation in this airdrop, allowing for a 1:1 exchange with the mainnet native token MOZ, and the TGE will take place on December 6.

Lumoz raised a total of $10 million, with participating institutions including Web3.com Ventures, NGC Ventures, and OKX Ventures, among others. Related reading: "Opside Rebrands as Lumoz, Ushering in the Era of ZK-RaaS"

10. Sophon

Sophon is a modular blockchain project. The total token supply has not yet been disclosed, with 20% allocated to nodes, and the mainnet is scheduled to launch on December 18.

Sophon raised a total of $10 million, with participating institutions including Binance Labs, OKX Ventures, and HTX Ventures, among others. Related reading: "Comparing Data from Aethir, Sophon, CARV: Which Node Sale Offers the Highest Returns?"

11.Swell Network

Swell Network is a liquidity staking platform; the SWELL token has a total supply of 10 billion and recently completed its TGE.

Swell raised a total of $3.75 million, with participating institutions including Framework Ventures, IOSG Ventures, and Apollo Crypto, among others. Read more: "Exploring Swell Network: Can It Lead the New Era of Liquidity Staking?"

12.Hyperliquid

Hyperliquid is a decentralized exchange platform that was once the hottest Perp DEX in the English-speaking community. The HYPE token has a total supply of 1 billion and recently completed its TGE. After the token's launch, the HYPE price experienced a significant surge, nearly quintupling in less than 3 days. The Hyperliquid airdrop distributed a total of 310 million tokens, and even at the opening price of $2, the airdrop's scale reached $620 million, making it one of the largest airdrop projects of the year.

Official information indicates that Hyperliquid did not accept VC investments. The team stated, "This allows them to focus on building the product without external pressure." Hyperliquid places the entire exchange, including the order book, on-chain, while democratizing the full liquidity provisioning strategy within the Hyperliquid Provider (HLP). In this way, the team does not benefit from Hyperliquid, fostering better alignment with users. Read more: "Exclusive Interview with Hyperliquid: The Hottest Perp DEX in English, What Makes It Competitive with dYdX?"