Uncovering 2024 Tokenless Projects

The year 2024 holds significant promise for the crypto markets, with numerous projects set to launch their mainnets and showcase their products to the public. Many of these projects consider introducing tokens that will serve as integral components of their ecosystems, functioning as utility or governance assets. Analyzing projects in this category, which may potentially conduct airdrops for their community and early users, is a strategic move. In this article, we highlight several tokenless projects that might launch their tokens soon. It's important to note that not all projects mentioned have officially announced token launches or airdrops, so exercising caution and conducting your own research on each project is essential.

Hyperliquid

Huperliquid operates as an order-book perpetual futures decentralized exchange (DEX) that aspires to blend the best features of centralized exchanges with the decentralized trading experience. Built on a purpose-designed Layer 1 (L1) blockchain, Huperliquid is tailored to offer a seamless user interface for trading digital assets. The platform provides an array of assets for trading, allowing leverage of up to 20X. Notably, Huperliquid introduces the concept of "pre-launch" assets, enabling users to trade these assets before their official listing on exchanges. The trading interface mirrors that of centralized platforms, incorporating features such as limit, market, take profit/stop loss orders, price charts, and an order book.  Users have the opportunity to earn Huperliquid points through various activities, including trading assets on the platform, participating in copy-trading vaults, and via the referral system. Presently, trading is available on the Arbitrum chain.

Swell Protocol

Swell stands out as a non-custodial liquid staking protocol designed to streamline DeFi access for users. Specializing in the liquid staking of Ethereum (ETH), Swell offers users the opportunity to utilize yield-bearing liquid staking tokens (LST) within the DeFi ecosystem. The project recently secured a $3.75 million investment from notable backers, including IOSG and Framework Ventures. 

Swell provides diverse options for users to boost their income with swETH. This includes the ability to restake assets in various protocols like Pendle, EigenLayer, Sommelier, and others, allowing users to earn additional yield alongside the fundamental staking rewards from their ETH holdings. Swell also introduces a referral system through which users can earn Swell Pearls by staking their Ethereum.

Kinza Finance 

Kinza Finance is a decentralized lending protocol on the BNB Chain, with the goal of delivering a comprehensive suite of financial products through smart contracts. Designed to address various financial needs, Kinza enables users to seamlessly lend, borrow assets, and earn real yields. Backed by Binance Labs, the project currently offers several pools for depositing and borrowing assets, including BTCB Token, ETH, BNB, and popular stablecoins. 

Kinza Finance plans to further expand investment opportunities and innovate the DeFi landscape by introducing new asset classes like real-world assets and inscriptions. Users can leverage Kinza Finance for borrowing and lending assets and earn points based on their Total Value Locked (TVL). Accumulating more points leads to receiving more KZA tokens upon the Token Generation Event.

Berachain

Berachain stands out as a high-performance EVM-compatible Layer 1 (L1) blockchain utilizing a Proof-of-Liquidity consensus mechanism. This innovative blockchain introduces a unique economic model that encourages the development of a new form of blockchain governance. Leveraging the advantages of Cosmos SDK and Polaris EVM (framework developed by Berachain for constructing a modular stack to easily separate the EVM runtime layer). Berachain secured $42M in funding at a valuation of $420M from notable investors such as Polychain Capital, Shima Capital, Robot Ventures, and others.

Within its ecosystem, Berachain will feature three tokens. BERA serves as the network token for transaction payments and gas fees. For governance processes, a special non-transferable token, BGT (Bera Governance Token), will be utilized. BGT allows users to create and vote on governance proposals. Additionally, Berachain plans to introduce its stablecoin, HONEY, which will be pegged at a 1:1 ratio to USDC.

The project has recently unveiled its testnet, providing users with the opportunity to engage in various activities. Participation in the testnet may potentially serve as a criterion for eligibility in a future token airdrop.

EtherFi

EtherFi is another promising liquid staking protocol designed to bring innovation to Ethereum staking. The platform offers a unique approach, allowing users to stake ETH and maximize their rewards through a re-staking process. By staking ETH on EtherFi, users not only earn staking yield but also benefit from yields generated by re-staking their eETH (liquid staking token) using EigenLayer. Furthermore, eETH can be actively utilized across various DeFi protocols, including Pendle, Curve, Maverick, and others.

One of EtherFi's standout features is its comprehensive point system, providing rewards for a variety of activities on the platform. Users can earn points simultaneously from multiple protocols through EtherFi. For instance, users may accumulate EtherFi loyalty points alongside EigenLayer points as their eETH is re-staked using EigenLayer infrastructure. Additionally, EtherFi incorporates a referral system, enabling users to earn points based on the activities of their referred users within the protocol.

Ambient Finance

Ambient Finance is a decentralized exchange incorporating a two-sided Automated Market Maker (AMM) model, blending concentrated and constant-product liquidity for any asset pair. The platform boasts several notable features, including gas savings, dynamically adjusted pool fees, and the reinvestment of fees from concentrated Liquidity Provider (LP) positions. 

Operating on Ethereum, Scroll, and Canto blockchains, Ambient Finance has attracted attention and secured $6.5M in funding at a valuation of $80M. While no official announcement regarding a token launch has been made by the team, the project is worth monitoring for potential updates. You can leverage Ambient for token swaps or engage in liquidity provision within LP pools.

MarginFi

MarginFi operates as a decentralized lending protocol built on the Solana blockchain, striving to enhance users' capital efficiency and provide access to leverage opportunities. The unique feature of MarginFi is a support of non-tokenized traders positions in other protocols as collateral. Users on MarginFi can lend assets and borrow funds using their lender's position as collateral.

The project secured a $3M investment from prominent investors, including Pantera Capital, Multicoin Capital, and Solana Ventures. MarginFi has introduced an incentive program where users can earn MarginFi points by contributing to the development of the protocol's ecosystem. Three main avenues for earning points include lending assets, borrowing assets, and participating in a referral program where users earn 10% of the points accrued by their referrals.

Scroll

Scroll is a zero-knowledge layer 2 (L2) blockchain scaling Ethereum and maintaining user’s privacy. Scroll extends opportunities offered by Ethereum for developers and DApps that can migrate on Scroll and enjoy lower operational costs. Scroll relies on cutting-edge zero knowledge proof technology, well-vetted EVM models, and meticulous audits to establish a foundation firmly grounded in security and reliability. Through a commitment to code security fostered by open source collaboration, Scroll safeguards developers and users, shielding them from potential vulnerabilities.

The project has the Alpha Testnet released and users can participate in various activities within the Scroll ecosystem. You can join Scroll Guild and interact with Uniswap in the test version, as well as explore other DApps building on Scroll.

Conclusion

As you can see from our article, there are many exciting projects coming in 2024. The titles we mentioned above are just a small part of what we will see in the new year. Stay tuned for more with SimpleSwap, and face the Crypto World grow and shine. But remember — keep an eye on the crypto market, but always do your own research before investing in cryptocurrency. 

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.