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The recent surge in decentralized finance (DeFi) projects highlights emerging opportunities in the cryptocurrency market, drawing attention from investors worldwide.
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With the successful launch of Hyperliquid, which allocated 31% of its HYPE tokens to its community, many are revisiting projects with strong community engagement and tokenomics.
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According to COINOTAG, “Hyperliquid has set a new standard in community token distributions, illustrating the power of decentralized participation in network growth.”
This article explores key DeFi projects showing potential for success similar to Hyperliquid, focusing on their community-centric approaches and tokenomics.
Exploring Emerging DeFi Projects Post-Hyperliquid
The recent launch of Hyperliquid has not only been a financial success, skyrocketing 125% post-launch, but has also triggered a wave of interest in other decentralized projects. As the DeFi landscape evolves, several projects are stepping into the limelight, leveraging community engagement as a central strategy.
Grass: Empowering Community Participation
Grass has captured attention with its innovative approach, distributing 10% of its total token supply in its early airdrop phase on Solana. The project’s commitment to allocate a further 17% of tokens to community participants demonstrates its dedication to building a decentralized map of the internet. With over 2 million active users, Grass is positioning itself as a frontrunner in decentralized infrastructure, fostering a robust community that actively contributes to its ecosystem.
LayerZero: Bridging the Gap Across Chains
LayerZero is revolutionizing blockchain interoperability, allowing seamless communication between various chains through lightweight and trustless message passing. Recently, the LayerZero Foundation announced that 23.8% of its ZRO token supply will be allocated for user incentivization. This move aligns with its vision to enhance user engagement and community benefits while promoting the continued growth of its decentralized protocols.
Wormhole: Incentivizing High-Value Transactions
Wormhole stands out as a multi-chain interoperability protocol that effectively rewards active participants. Despite reserving only 6% of its W token supply for community incentives, the project’s focus on high-value transactions suggests a strong potential for expansion. With a structured token release schedule, Wormhole’s strategy emphasizes rewarding those who engage deeply with its ecosystem.
Gradient Network: A New Wave in Cloud Computing
Gradient Network is making significant strides in integrating edge computing within blockchain. By allowing users to download a browser extension and operate nodes, the project incentivizes community involvement right from the start. The leadership of Yuan Gao, with backing from prominent firms like Multicoin Capital and Sequoia Capital, signals a promising future for this Solana-adjacent initiative.
Arkham: Transitioning to Perpetual Exchange
Arkham is pivoting from traditional blockchain services to a perpetual exchange model, implementing an airdrop strategy akin to Hyperliquid’s. By rewarding trades and referrals, Arkham aims to cultivate a vibrant trading community. As it progresses toward its second phase, monitoring its distribution, which currently involves 7% of the planned 37% for community engagement, will be essential.
Kinto: The First Security Layer-2
Kinto claims its place as the first “Security Layer-2,” attracting interest from Binance Research. With its total value locked (TVL) target set at $100 million, Kinto’s structured approach to rewards can position it as a credible player in the market, offering users deposit-based incentives that could appeal to cautious investors.
Conclusion
As the DeFi landscape continues to evolve, projects like Grass, LayerZero, Wormhole, Gradient Network, Arkham, and Kinto represent a new wave of decentralized initiatives that prioritize community participation. Their diverse approaches to token distribution and engagement echo Hyperliquid’s successful model. Staying updated on their developments and understanding their tokenomics could provide valuable insights for users looking to invest in future opportunities.
