Over the past month, major projects seem to have all agreed to launch their Token Generation Events (TGEs) in September and October, and the wealth effect of new coins has been quite significant, led by STBL, 0G, and Aster.

During the National Day holiday, if you are not focused on the market, why not take some time to participate in new project launches? BlockBeats has compiled a list of several recently popular projects.

Momentum

Momentum is a decentralized exchange (DEX) backed by well-known VCs such as Sui, Coinbase, and Circle. On June 5th this year, it even secured a strategic investment from VCs like OKX at a valuation of $100 million.

The product includes multi-signature fund management, token release, and liquidity provisioning. Its team, formerly known for the multi-signature wallet MSafe (Momentum Safe), focuses more on asset management security due to its background in multi-signature wallet projects.

Since the launch of its testnet at the end of March this year, it has rapidly accumulated users and funds. Currently, the Total Value Locked (TVL) has reached around $240 million, with a total trading volume exceeding $12 billion. There are over 1.7 million users and 890,000 liquidity provider addresses. By Q3 of this year, the quarterly transaction fees have exceeded $7 million.

From September 26th to October 19th, Momentum, in collaboration with BuidlPad, launched the "HODL Yield Campaign," offering up to 155% annualized yield for liquidity pools such as SUI, stablecoins, and Bitcoin. Participants can also receive double Bricks points rewards (presale allocation and possible airdrop opportunities; the official statement is that current supporters will benefit first).

The process is relatively simple; users just need to visit BuidlPad's Momentum HODL event page (official Medium has detailed instructions), connect their wallet, and provide liquidity to the specified pool (e.g., SUI/USDC, xBTC/wBTC, etc.).

During the event, earnings will be calculated proportionally. Users can deposit into the pool using SUI or a USD stablecoin, and the system will automatically settle and distribute MMT and Bricks rewards after the event ends.

Yield Basis

Yield Basis is a Bitcoin-native yield protocol introduced by Curve founder Michael Egorov. It achieved a $50 million valuation at the beginning of the year and secured $5 million in funding.

Yield Basis utilizes an automatic re-leveraging mechanism to provide transaction fee revenue to BTC liquidity providers while hedging against impermanent loss caused by AMM curve risks. LPs can choose to directly receive BTC-denominated fees or forgo fees in exchange for YB token incentives. Locked veYB can participate in governance and share protocol fees.

After a day-long delay, Kraken announced a partnership with Legion for the LaunchPad's inaugural project selection, which was Yield Basis. Due to Legion's "Legion Score" system, an allocation is based on on-chain behavior, social media activity, and developer contributions, allowing the project to filter out a significant portion of alt accounts. This ensures that true builders and core users have priority access to the subscription quota. Coupled with Kraken's listing pathway, the market is closely watching this collaboration.

The presale model currently known includes two stages. Firstly, 20% of the tokens are reserved for Legion's high-scoring users (pre-deposits are already open, and the project will determine your allocation based on your Legion score). The remaining 80% allocation will be publicly sold on Kraken and Legion in a first-come, first-served (FCFS) basis. $YB will be listed on Kraken directly after the sale ends.

The total token supply is 1 billion tokens, with 2.5% (approximately 25 million tokens) allocated for the community sale. The fixed price is $0.20, and each user can purchase up to a maximum of $10,000. Token distribution includes 30% for liquidity mining incentives, 25% for the team, 12.5% for the ecosystem reserve, 12.1% for investors, with an additional 7.5% allocated for Curve protocol licensing fees, 7.4% as a developer reserve, and 3% for Curve governance incentive token distribution.

It is worth noting that the Curve DAO has voted to allocate accelerated funding in crvUSD to YB for the purpose of adding liquidity to the Bitcoin pool. While the project's valuation was only $50 million at the beginning of the year, the support from the Curve community, Egorov's influence, and the sentiment premium from Kraken and Legion allowed YB to raise funds at a valuation of $200 million in a presale, significantly higher than the previous internal valuation.

Canton Network

The Canton Network is a public chain developed by Digital Asset for the institutional financial market, emphasizing privacy protection and multi-institution synchronous settlement. Digital Asset has raised nearly $4 billion in 8 funding rounds from 2016 to date, with institutions from traditional finance such as Goldman Sachs, IBM, and JPMorgan leading multiple rounds. In the most recent funding round on June 24th, additional Crypto Native VCs like Yzi Labs, Paxos, Polychain, and Circle participated.
We are currently at a juncture where TradeFi and blockchain are becoming increasingly intertwined. Top financial institutions such as Goldman Sachs, Citibank, JPMorgan, HSBC, BNP Paribas, among others, have begun testing and implementing blockchain solutions. Some real-world use cases have already been implemented; for example, issuing a €1 billion digital native bond for the European Investment Bank (EIB) in November 2024 and conducting tokenization tests with Euroclear and the World Gold Council in October 2024, involving assets such as UK gilts, Eurobonds, and gold.

To further promote interoperability among ecosystem applications, Canton Network has introduced the native token 'Canton Coin' ($CC) as a means of payment and incentive tool for covering the costs of global synchronization services. Canton Coin can be issued by participants providing computation power or services to the network to reward application builders, users, and infrastructure providers.

Prior to this, the total supply of $CC could only be minted through node mining, with a maximum of 100 billion $CC in the first 10 years and an additional 25 billion $CC annually thereafter. Currently, 284.8 billion $CC have been mined, and the allocation model, which initially provided 80% of the allocation to super validators, will gradually decrease over time and as the network stabilizes to only 5% after 10 years. Conversely, the share for application providers and other ordinary validators will increase. Due to this distribution, the liquidity of $CC in the secondary market is relatively low.

The collaboration between Canton Network and the ecosystem's Temple this time is the first to allow users to buy, sell, and manage Canton Coin on a trading platform after completing KYC. However, it is still unknown how retail investors can participate specifically and whether they can participate, as further announcements are awaited.

What we can currently participate in is the airdrop event of Canton Wallet, launched on September 28 by the wallet project in the Canton Network ecosystem SEND. The official announcement stated that, in order to test Canton Wallet, a $CC allocation would be given to users participating in the test (after completing a Google Form verification). The specific process involves purchasing a SENDTAG and holding 7000 $SEND, as well as staking 20u in the vault. This may be the most convenient way for the average person to participate, but Canton Wallet will only airdrop 30% of the $CC earned to users, potentially offering limited profit potential.

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