A new cohort of crypto projects are gearing up to launch their tokens, with several months of points campaigns.
Airdrops have been struggling in recent months.
A summer crypto market lull coupled with a perception among traders that many new tokens were launching at unsustainable valuations caused many to fail.
But with the Federal Reserve's 0.5% interest rate cut, economic stimulus in China and US politicians embracing crypto ahead of the November election, interest in crypto has rebounded.
Many crypto projects are gearing up to gain momentum by launching tokens amid favorable market conditions.
Here are some of the biggest ones.
Hyper liquid
HyperLiquid is a decentralized permanent exchange. Simply put, it allows users to bet on crypto assets, sometimes even before they launch.
Monday, Hyper Liquid Used A separate organization called the Hyper Foundation and has announced that it will soon launch a native token of Hyper Liquid, called HYPE.
The platform has a long-term campaign where users can earn so-called “points” for placing trades and depositing money into trading vaults. These points determine how many HYPE tokens users receive.
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HyperLiquid is a top decentralized permanent exchange with $744 million in deposits and more than $1 billion in daily trading volume, according to Defilama. data.
Hyper liquid points trading The points trading platform was $7.32 before the airdrop on the Wales market.
swell up
Swell began as an ether liquid staking protocol competitor to Lido. It has since launched Ether Staking, Bitcoin Staking and plans to launch its own Ethereum Layer 2.
Like HyperLiquid, Swell also has a long-running campaign where users can earn points by using the protocol's services.
Earlier this month, swell Announced will airdrop 8.5% of its 10 billion SWELL token supply to point holders. The airdrop date is yet to be revealed.
with $1.4 billion In the hyper-competitive DeFi staking sector, Swal has secured deposits across all of its products.
Pre-launch trading Bitget values SWELL at $0.05 per token.
grass
Grass is an app where users monetize their internet connection by training artificial intelligence.
For the past year, it has encouraged users to join its AI training network through a points campaign. Gross also plans to launch a Solana Layer 2 network in the future to make its data collection more transparent.
In August, Wind Network, the company behind Grass, Used A separate organization called the GRASS Foundation has launched its GRASS token. The airdrop date is yet to be revealed.
Why do crypto projects start foundations? Regulation around crypto tokens – especially in the US – is vague at best. To avoid circumventing such regulations, projects set up separate entities, often non-profits, through which to launch tokens for their protocols.
Gross claims 2.5 million users contribute to its network. Almost all of these users are eligible for tokens, so this could be one of the most widely distributed airdrops in history.
GRASS token Trades $1.11 before airdrop in Wales market.
Scroll through
Scroll is a Layer 2 network – blockchain built on top of Ethereum offering fast and cheap transactions.
DeFi locals have long speculated that Scroll could launch a token following its competitors such as ZKsync.
Those speculations were confirmed when April scrolled through Used Promotion of points.
Then scroll to early October Confirmed Plans to launch a token called SCR. It will airdrop 7% of its 1 billion token supply to early users, with another 8% set aside for future airdrops.
Eligible users can claim SCR from October 22.
SCR Token Trades At about $1.45 in HyperLiquid's pre-launch market, this gives it a fully-diluted value of about $1.5 billion.
Magic Eden
Magic Eden is the largest NFT marketplace in Solana.
In August, that is Used ME Foundation and announced plans to launch a token called ME.
ME will be used to encourage people to use its associated protocols as Magic Eden expands beyond NFTs and supports other blockchains, the foundation says.
Specific details on when the token will be launched and how much supply will be dedicated to the airdrop have not yet been revealed.
ME Token Trades $0.18 before airdrop in Wales market.
Tim Craig is News' Edinburgh-based DeFi correspondent. Reach out with tips at [email protected].
Related TopicsAIRDROPSCROLLSWELL
