5 Unissued Tokens That X's Could Make in the Next Bull Market
Date: 2023-08-13 Author: Karina Ziganova Categories: BLOCKCHAIN
Despite the protracted crypto winter and repression from global financial regulators, 2023 was marked by the emergence of a number of interesting projects that attracted impressive support from venture capital funds and users even before the release of tokens.
1.LayerZero (ZRO)
LayerZero is an omnichain protocol designed to connect different blockchains. Using Oracle and Relayer, it allows you to transfer assets between networks much faster than bridges. In addition, LayerZero is more secure and cost effective.
The Layer Zero team has raised $263M from leading VCs including Sequoia Capital, a16z, Binance Labs, Coinbase, Tiger Global, and Polygon. Several well-known projects such as SushiSwap, PancakeSwap, Uniswap, Trader Joe, Radiant Capital and Hashflow have already implemented Layer Zero as a blockchain interoperability solution.
The ZRO token is mentioned in the LayerZero code, so we are sure that sooner or later it will be released. Although LayerZero Labs has yet to confirm an airdrop, certain development patterns and significant VC funding hint that the project could follow suit from Aptos, Blur, Optimism or Arbitrum.
2.zkSync (ZKS)
zkSync is a Layer 2 (L2) protocol that allows unlimited scaling of Ethereum through the use of rollups with zero knowledge proof.
ZK rollups allow you to move transactions off the main network to speed up their processing. The aggregator combines them into a batch, checks the validity of the entire batch of transactions, and then sends them to the first level of the blockchain for final confirmation. The use of ZK rollups helps to significantly reduce the amount of data, speed up transactions and reduce gas fees.
Finding solutions to the scaling problems of the Ethereum mainnet has long been considered one of the main narratives of the crypto industry, and ZK rollups are seen as one of the most promising options.
The zkSync team has raised $458 million from Blockchain Capital, DragonFly Capital, a16z and other funds. The community is looking forward to the ZKS airdrop and hopes it will be as big as the Arbitrum token giveaway.
3. Aztec (AZTEC)
Aztec is another second level solution that uses ZK rollups. The main goal of the project is to allow developers to create fully programmable, privacy-preserving smart contracts using the Noir programming language. Aztec's focus on privacy is incompatible with the EVM architecture and Solidity semantics.
The Aztec team has raised $119 million from ConsenSys, Paradigm, a16z and other leading venture capital funds. It recently announced the demise of the zk.money website and the Aztec Connect infrastructure that powered it. Now the developers will focus on launching a new generation of ZK-rollup.
Currently, the project does not have a token, but the chances of its early release are very high.
4. Fuel (FUEL)
The Fuel Labs team calls Fuel “the fastest execution layer for modular blockchains.” It solves Ethereum's scaling issues with a concept called modularity. This means that the execution layer is separate from the data availability and consensus layer.
Fuel's goal is to bring maximum security and flexible throughput to Ethereum. To achieve it, parallel transaction execution, the Fuel Virtual Machine (FuelVM) virtual machine, and the Sway programming language are used.
Fuel Network has raised $81 million from Blockchain Capital, Stratos Technologies, Coin Fund and other companies.
At the moment, the team has not confirmed the release of the token, but most likely it will happen before the mainnet launch. Fuel is currently in the third stage of the Beta3 testnet.
5. Shardeum (SHM)
Shardeum is a scalable first-level (L1) blockchain that increases the number of transactions per second by adding new nodes. Its work is based on sharding technology, which allows dividing the network into smaller parts, called shards, and distributing the computational load between them. This makes the blockchain faster, scalable, and energy efficient.
The Shardeum team has raised over $18 million from the Spartan Group and other venture capital funds.
The release of the native Shardeum token is scheduled for the end of 2023. SHM will be used to pay for gas, reward network members and other activities, and its maximum supply will be 508 million coins.
