Blog / Crypto World / Uncovering 2024 Tokenless Projects Pt2

Uncovering 2024 Tokenless Projects Pt.2

Feb 21, 2024
6 min read

This blog post will cover:

  • KiloEx
  • Drift Protocol
  • Mode
  • INIT Capital
  • StarryNift
  • Struct Finance
  • ZeroLend
  • Grass

In our previous article, we explored a range of promising projects that are currently operating without tokens but are expected to launch them in 2024. Several of these projects have already announced plans for airdrops aimed at their communities, providing avenues for engagement and participation to qualify for upcoming token distributions. To further expand on this topic, SimpleSwap team has prepared "Tokenless Projects Part 2," which introduces additional projects with potential airdrop in the coming months.


KiloEx is a decentralized perpetual exchange operating on the BNB Chain, OpBNB, and Manta Pacific chains. It aims to enhance the trading experience for users by offering fast trades and leverage opportunities without requiring KYC or sign-up procedures. Additionally, KiloEx provides liquidity providers with risk-neutral positions, making it easier for them to participate in liquidity provision.

KiloEx received an investment from Binance Labs as a Most Valuable Builder (MVB) program participant. The project officially announced the airdrop of KILO token in the coming months. You can join the Points Airdrop Program to qualify for the upcoming token distribution. Points can be earned through various activities, including trading, depositing funds into staking pools, and inviting others to join using a referral link.

Drift Protocol

Drift Protocol is a decentralized exchange built on the Solana blockchain. Offering a comprehensive suite of DeFi opportunities, Drift empowers users with options such as perpetuals trading, spot trading with leverage up to x5, token swaps, and avenues for earning through lending/borrowing pools and staking pools. The project prioritizes capital efficiency and fund protection through its gross-margin risk engine.

Having secured $23.5 million across two funding rounds, Drift Protocol boasts backing from prominent investors including Polychain Capital, Multicoin Capital, and Robot Ventures, among others. The project features a reward program enabling participants to accrue points for various activities such as trading, depositing funds into vaults, and inviting referrals to the protocol. This points program remains active until mid-April, offering users an opportunity to engage and earn within the ecosystem.


Mode is a DeFi layer 2 (L2) chain built on the modular OP Stack and developing the Superchain alongside Optimism. Its primary objective is to substantially reduce transaction fees by up to 95% compared to Ethereum and foster an ecosystem of decentralized applications (DApps). Mode will incentivize both developers and users through Sequencer Fee Sharing mechanics and airdrops.

Within the Mode ecosystem, various DApps are under development, including a decentralized exchange (DEX), Mode Name service, lending protocols, and more. Notably, Mode secured a $5.3 million grant from the Optimism Foundation, highlighting its commitment to innovation and advancement. As part of its initiatives, the project has announced an airdrop of MODE tokens for early supporters of the blockchain. Participants can engage in a range of activities within the Mode chain and its ecosystem, such as bridging funds, utilizing the DEX and lending protocols, and minting Mode domain.

INIT Capital

INIT Capital operates as a lending and borrowing protocol on the Mantle blockchain, positioning itself as a foundational liquidity layer for decentralized applications. By providing efficient money market functionality, INIT enables participants to access lending and borrowing opportunities with various assets, including stablecoins and volatile tokens such as WBTC, WETH, MNT, among others.

The protocol also features a rewards program for users, allowing them to earn INIT points and unlock additional benefits by depositing funds and participating as lenders or borrowers in INIT pools. Additionally, INIT offers a referral program to incentivize users to invite new participants to the protocol, thereby enhancing their rewards.


StarryNift is an innovative project within the Web3 space, offering a gamified social metaverse experience designed to enhance user interaction and engagement. Within StarryNift, users have the opportunity to explore diverse virtual worlds featuring unique attributes, connect with like-minded individuals, and enrich their social interactions. Moreover, users can unleash their creativity by designing and personalizing their own digital realms, leveraging cutting-edge AI technology for customization.

Backed by prominent investors such as Binance Labs and OKX Ventures, StarryNift is now inviting participation through its Citizenship Pass initiative. This personal decentralized identity protocol (DID) grants users access to StarryNift's immersive worlds and offers additional incentives for active engagement within the platform.

Struct Finance

Struct Finance represents a pioneering suite of DeFi protocols that specializes in offering structured financial products tailored for both institutional and retail investors. These innovative investment instruments are designed to enhance capital efficiency by incorporating a blend of on-chain and real-world assets, providing stable and predictable yields amid the volatility of the DeFi landscape. Operating on the Avalanche blockchain, Struct Finance's vaults offer stability and reliability for investors seeking consistent returns.

Struct Finance received $3.9M from Blizzard Fund, Double Pick, Wintermute, and other investors. The project has recently unveiled a reward system to incentivize user engagement on the platform. Users can earn points through various activities such as depositing funds into the protocol, utilizing Struct vaults, and engaging in social tasks in collaboration with Galxe.


ZeroLend is a lending protocol operating on zkSync and Manta chains, offering users the opportunity to engage as lenders or borrowers. The platform aims to facilitate lending and borrowing activities for various assets across multiple chains, providing flexibility and accessibility to users. Additionally, ZeroLend introduces its own yield-bearing stablecoin, ONEZ, which captures native yields from the lending protocol.

To further incentivize user participation and governance, ZeroLend has announced Zero Gravity, a special airdrop company for distributing ZERO tokens. This token will serve as the governance token of the protocol. Users can become eligible for the airdrop by actively participating in ZeroLend's on-chain activities, such as supplying assets to the protocol and completing social tasks.


Grass is pioneering a decentralized web scraping network with the vision of becoming a decentralized oracle for AI models. By converting public web data, particularly leveraging internet bandwidth, Grass creates valuable datasets that are sold to corporations and institutions. These datasets serve various purposes, primarily supporting the training of AI models that require extensive web data.

Backed by $4.5M in funding from investors like Polychain Capital, Tribe Capital, and No Limit Holdings, Grass is making strides in this space. While there's no official information about the project's future token, users can participate in the Beta phase and earn Grass points passively. To do so, simply download the Grass app on your Android device or install the Chrome browser extension. While browsing the internet, you'll accumulate points without compromising your personal information, as assured by Grass.

We hope you find this article useful and interesting — while there are so many crypto projects appearing every year, we try to find those worth our attention. However, new projects are quite dangerous to invest in. So read more reviews about every title you are interested in. Do your own research and keep an eye on Crypto World updates.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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