Discover Alpha: Reviewing Recent Launches of 5 Top Projects and Their Token Releases
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Discover Alpha: Reviewing Recent Launches of 5 Top Projects and Their Token Releases
These projects will serve as pilot initiatives to pave the way for other projects.
Navigating Web3 tides with focused insightsAuthor: IGNAS
Compiled by: TechFlow
The pace of new token launches has slowed, but I believe it will soon accelerate because:
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The market is slowly recovering.
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Many projects can no longer delay their launches.
These early movers will test the waters and pave the way for others. In this article, I want to highlight protocols that frequently appear in my X feed—yet don’t seem widely understood.
A year ago, I wrote a similar blog post about 7 major projects and intended to publish such updates more frequently, so feel free to subscribe.
So if you’re one of those on X eagerly awaiting token launches and airdrops from hyped-up projects (but aren’t quite sure what they do), this article is for you.
Initia – The Eden of Multichains
Initia was the first project sold through Cobie’s Echonomist group on its Echo fundraising platform.
Cobie’s team has only backed three projects, which might be bullish. Mainnet and airdrop are expected soon (though possibly delayed until April).
If there’s one word you should know about Initia, it’s “interwoven.”
Initia is an L1 that integrates L2s to create a modular network of appchains.
It sounds like Ethereum, but Initia solves issues ETH maxis dislike about Ethereum.
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Unlike isolated Ethereum L2s, Initia fuses Layer 1 with Layer 2 to build a “interwoven” ecosystem. They call these L2s Minitias, similar to Avalanche subnets (recently renamed L1s).
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Unlike Ethereum but like Avalanche, OPinit Stack supports EVM, MoveVM, and WasmVM, allowing developers to use any language they prefer.
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This may make ETH maximalists jealous: Initia’s Enshrined Liquidity allows staking either INIT tokens or approved INIT-X LP tokens (paired with INIT) to earn rewards under a Delegated Proof-of-Stake (DPoS) mechanism.
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Locked liquidity exemplifies Ponzi-like tokenomics, forcing 50% or more of INIT to be used as the pairing token for all ecosystem tokens. These LP tokens must be whitelisted by governance.
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Like Berachain, Initia has a native DEX: InitiaDEX, built on the Move programming language at the L1 level. It serves as the liquidity hub for the Omnitia ecosystem, and most liquidity—even across L2s—flows through InitiaDEX (and enforced INIT pools).
Initia offers additional features like native bridging (confusingly named Minitswap) and a vested interest program (rewarding users for creating new apps and use cases for INIT), but the above four stand out to me.
Initia truly packages what Ethereum natives demand from Ethereum into one product—an interwoven ecosystem.
Token & Funding
Tokenomics haven't been fully released. Initia has only shared four details:
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50% of supply allocated to VIP and Enshrined Liquidity
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No unlock vesting for insider staking rewards
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~30% discount for community round
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15% to investors
We can expect an airdrop—as Initia co-founder Zon said, “Vesting unlocks are a gift. They prevent you from giving up too early and force you to believe.”
In September 2024, Zon also told Block that Initia raised $14 million in a Series A round from Theory Ventures, Delphi Ventures, Hack VC, and others, with a $350 million FDV.
The testnet is incentivized, so visit the official site to get testnet tokens and engage with the ecosystem. All info is here.
As always, I don’t expect much from testnet activity.
Overall, the ecosystem is well-built. The key question remains: Will builders and users choose to participate?
Fogo – The Fastest L1 Blockchain
Fogo is another project launching its token via Cobie’s Echo group, raising $8 million at a $100 million valuation.
Fogo uses Firedancer, a highly optimized Solana validator client created by Jump Crypto, as its sole execution client.
Solana itself hasn’t even launched Firedancer yet. While Solana will eventually benefit from Firedancer, not all validators can switch immediately—meaning network speed is limited by the slowest node.
As Fogo co-founder Doug Colkitt put it: “It’s like owning a Ferrari but driving it in New York City traffic.”
Under optimal conditions, Fogo achieves theoretical speeds of up to 1 million TPS with 20ms block times, while its real-time devnet reached ~54,000 TPS. In contrast, Solana’s current theoretical limit is 65k TPS, but operates at 4.3k.
MegaETH testnet pushes 20k TPS with 10ms block time.
For comparison, TradFi systems handle over 100,000 operations per second with sub-second latency.
Fogo’s team believes decentralized networks must match institutional-grade use cases like high-frequency trading and instant payments.
It runs the Solana Virtual Machine (SVM), meaning developers can seamlessly migrate Solana dApps, tools, and infrastructure to Fogo without changes. Expect forks of major projects (Jupiter, Kamino, Pumpfun, etc.) with shiny new tokens.
Unsurprisingly, not everyone in the Solana ecosystem is happy about this.
Notably, Fogo contributors include members of Douro Labs, the team behind Pyth oracle network—which itself has close ties to Jump Crypto.
Other notable features:
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Multi-Local Consensus (“Follow the Sun”): Validators are grouped into semi-independent geographic “zones.” Control rotates between zones regularly, preventing dominance by any single region. This enables faster consensus during normal operation since messages don’t need to travel globally. More here.
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Launch will begin with a curated set of 20–50 validators.
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Fee Abstraction: Transaction fees can be paid in any token.
Token & Funding
Fogo raised ~$5.5 million in a seed round led by Distributed Global, with participation from CMS Holdings. This was part of the $8 million raised through Echo.
Devnet launched end of 2024, testnet coming soon, mainnet expected mid-2025. Little info available yet on token or airdrop.
Succinct – Software for a Provable World
“Crypto has failed its mission.
We were promised transparent, verifiable, trustless global coordination systems. Instead, we got bridge hacks, multisig L2s without fraud proofs, and 21-validator committees controlling billions.”
This is the core problem Succinct aims to solve.
“ZK proofs are one of the most critical technologies for blockchain scaling, interoperability, and privacy—but remain too complex for most developers today.”
ZK proofs are hard to get excited about now, but Succinct caught my attention with strong marketing and a MacOS-style dashboard for its testnet/site.
You can play games and earn points.
Anyway. The current problems:
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Every project must build its own proving system (e.g., zkSync and Scroll use ZK for scaling, but infrastructure is fragmented).
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Many rely on centralized providers to generate proofs.
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This is not only costly but slows innovation.
Thus, ZKPs—cryptographic proofs of truth without revealing data—are hard to implement due to fragmented infrastructure and high costs.
Succinct offers a shared proving marketplace instead of reinventing the wheel. Developers focus on building apps (rollups, bridges, oracles), outsourcing proof generation to the network.
Prominent partners: Polygon, Celestia, Avail, Gnosis.
But use cases go further—private voting, anonymous trading. Or prove your wallet has funds without revealing the amount.
It’s a technical project, but could become the glue securing the most fragile parts of crypto.
Their testnet “Tier 1: Trust Crisis” launched two months ago. Earn stars by generating zero-knowledge proofs. Requires $10 USDC deposit to cover proof cost. Invitation codes must be farmed via X, Discord, etc.
I think this will be standard for airdrops, but token details remain undisclosed.
Succinct raised $55 million led by Paradigm, joined by Robot Ventures, Bankless Ventures, Geometry, and others.
TGE expected shortly after mainnet launch.
Resolv – A Truly Functional Delta-Neutral Stablecoin
Many now believe the next altcoin surge will be driven by increased institutional adoption—especially stablecoins.
The issue? Institutions and stablecoin issuers benefit most, while retail investors get crumbs.
I’ve written about protocols likely to benefit from stablecoin adoption, but now I’m adding Resolv.
If you understand Ethena, you already grasp Resolv’s basics.
Both share the same core idea: using crypto collateral plus short-term perpetual hedges to create a stablecoin. But Resolv’s architecture differs:
First, dual-token vs. single-token model: Ethena uses a single-token model (USDe), where all risk and return flow to stablecoin holders, managed behind the scenes by protocol reserves.
Resolv uses a dual-token model (USR + RLP), explicitly isolating risk into a separate token.
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USR: Like USDe, maintains peg via delta-neutral strategy by shorting futures against ETH price. You can stake USR for yield, converting to stUSR—a savings account equivalent.
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RLP acts as insurance for USR, absorbing losses to keep USR stable (e.g., during negative funding rates). RLP holders take on risk for higher returns. RLP value fluctuates with protocol performance—it grows with profits, shrinks with losses.
This setup lets risk-tolerant users earn more while protecting stablecoin holders from market volatility. At writing, USR APR is 4.3%, RLP is 6.7%.
Not huge, but point farming for the upcoming airdrop helped Resolv reach $636.9 million TVL. Not bad.
Second, Resolv aims for 100% crypto-backed. All collateral is ETH (BTC support recently announced), no RWA involved.
Ethena initially supported only crypto, but later launched USDtb, a secondary stablecoin backed 90% by BlackRock’s tokenized money market fund (BUIDL).
For Resolv, USDtb is somewhat like USR’s insurance token, designed to stabilize USDe during bear markets by offering traditional asset yields when crypto yields fall.
So you could say Resolv is more “crypto-native” and philosophically decentralized, though Ethena’s approach gains extra stability via centralized assets.
Token & Funding
Resolv hasn’t officially disclosed funding details, but backers include Delphi Labs, Daedalus, and No Limit Holdings. They’re preparing for community fundraising via Legion soon.
Since September 2024, Resolv has run a points program. You can still join by depositing stablecoins and earning points.
After deposit, maximize points via Pendle pools or other strategies.
The $RESOLV token is expected to launch in early 2025.
Snapchain – Possibly the Largest Consumer-Facing L1
My biggest concern: Will Fogo, Initia, and other new chains gain adoption? What killer apps will run on them? As Kyle said:
“General-purpose blockchains will die. Every blockchain needs a specific use case—they’ll be defined by what’s built on top.”
This is where Snapchain comes in—a Layer 1 built specifically for the Farcaster social network.
Snapchain is necessary because decentralized social networks struggle to stay synchronized and deliver real-time updates at scale. Lens uses zkSync tech, but Farcaster is building its own.
“For example, Twitter has 200M daily users, processes 10k messages per second, and state data could grow at 1TB–10TB per day.”
Farcaster’s current system works at small scale but fails as users and nodes increase. Snapchain fixes this in a decentralized way.
At launch, it should support 9k+ TPS, enabling ~2 million daily active users (current DAU ~50k).
I won’t dive deep into technicals, but two aspects excite me:
First: Data deletion (pruning), haha. On blockchains, most data must be stored forever. But what if you post a meme and instantly regret it? It must disappear—forever.
On Snapchain, old data (posts, likes, follows) can be deleted once no longer needed.
This matters because users pay ~$2–$3 yearly for 500 tx/hour and ~10,000 tx storage limit.
Deleting old transactions frees up space for new ones (or you pay more).
Second cool part: Sharding. Recall Ethereum considered sharding before shifting to L2 scaling.
Imagine putting all social media actions (likes, posts) on-chain—millions daily. If every node stores and processes everything, it lags. Every full node must process every transaction, even irrelevant ones. Fine for money and smart contracts, but doesn’t scale for real-time social.
Snapchain solves this by making each user fully independent (when you sign up on Farcaster, you get an ID; lower number = flex). Your posts don’t affect my account.
So Snapchain shards users across multiple shards (inspired by Near). Each shard handles only its users. More users = more shards = higher throughput.
To keep everything synced, there’s a final layer: a main chain that bundles shards and publishes global blocks.
Ethereum can’t easily do this—its transactions depend on shared state: smart contracts, tokens, balances. Makes account-level sharding hard.
Snapchain works because social actions are simple—they only affect the sender.
There’s more here, but I’m bullish on Farcaster and Snapchain because they build the use case first, then add blockchain.
It worked well for Hyperliquid. Even with 50k DAU and 900k total users, Farcaster remains a top consumer app.
Token & Funding
TLDR: Genesis block is live; mainnet expected April 15, 2025—very soon.
I believe once Snapchain launches and Farcaster is ready to scale, Coinbase x Farcaster will announce integration with Coinbase Wallet.
This would be huge. Social messaging inside Coinbase Wallet? I’m serious.
Unclear when the token launches—the team stays silent—but rumors and funding news suggest it’s coming. Snapchain itself is a technical component, not a standalone fundraising entity. Development is funded by Merkle Manufactory, the company building the Farcaster protocol.
Most notably, in May 2024, they announced a $150 million raise led by Paradigm, with major investors including a16z crypto, Haun Ventures, USV, Variant, and Standard Crypto.
Bonus: Two More Projects – Eclipse and Atlas
I originally planned to cover 7 upcoming TGEs and protocols, but this article got too long. I always get carried away (often deleting 30% before publishing!)
Eclipse and Atlas are two more SVM (Solana VM) chains on Fogo.
Eclipse is an Ethereum L2 using SVM instead of EVM and Celestia for data availability. It’s already live, but TVL is only $57 million. As Kyle (above tweet) said, shows how hard differentiation is among generic chains.
Just having SVM isn’t enough to stand out among L2s.
Token appears confirmed as ES:
E – Ethereum
S – Solana
Atlas is another Ethereum-based L2 SVM, but built for on-chain order books, margin systems, and high-frequency trading—so it needs speed! Testnet is live.
Since I know you want to get back to surfing X, here’s more on Eclipse and Atlas from Blockworks:
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Ignas | DeFi Research
