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Crypto Basics

What is BscScan and How Does it Work?

Discover the inner workings of BscScan and how it serves as an essential tool for monitoring Binance Smart Chain transactions and assets in this guide.
S. Vishwa
11 Minutes
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Blockchain technology has revolutionized the world of finance and decentralized applications. As the popularity of cryptocurrencies grows, so does the need for reliable tools to navigate and explore different blockchain networks. 

BscScan is a tool designed explicitly for the Binance Smart Chain (BSC). In this comprehensive guide, we will delve into the intricacies of BscScan, its functionalities, and how to make the most of this powerful blockchain explorer.

What is BscScan?

BscScan is the premier blockchain explorer for the Binance Smart Chain (BSC), developed by the same team responsible for creating Etherscan. Launched in 2020, BSC has rapidly gained popularity as a scalable and efficient blockchain network for decentralized applications and digital assets. 

BscScan provides users with a comprehensive view of the BSC ecosystem, allowing them to explore wallet addresses, track transactions, verify intelligent contracts, and analyze token data.

As a blockchain explorer, BscScan acts as a search engine for the BSC network, providing real-time information about transactions, blocks, addresses, and smart contracts. 

It offers a user-friendly interface that makes navigating and extracting valuable insights from the BSC blockchain accessible. Whether you are a developer, investor, or blockchain enthusiast, BscScan is an indispensable tool for interacting with the BSC network.

Understanding BscScan's Features

Real-Time Transaction Tracking

One of the core functionalities of BscScan is its ability to track transactions on the Binance Smart Chain in real time. By entering the transaction hash or wallet address, users can retrieve detailed information about a specific transaction, including the transaction amount, date, block number, balances, transaction fees, and status. 

This feature is handy for individuals who want to monitor the progress of their transactions or verify the authenticity of a particular transaction on the BSC network.

Exploring Wallet Addresses

BscScan allows users to explore wallet addresses on the Binance Smart Chain, providing a comprehensive overview of transaction history, token balances, and other relevant information. 

Users can access details such as BNB balance, BEP-20 token holdings, transaction data, and more by entering a wallet address into the search bar. 

This feature enables users to gain insights into the activity of specific wallets and track the movement of digital assets on the BSC network.

Smart Contract Verification

Smart contracts are an integral part of the Binance Smart Chain ecosystem, enabling the creation and execution of decentralized applications. 

BscScan offers an intelligent contract verification feature, allowing users to verify the authenticity and integrity of smart contracts deployed on the BSC network. 

By comparing the compiled code of a smart contract with the code running on the blockchain, users can ensure that the contract functions as intended and mitigate the risk of potential vulnerabilities or malicious activities.

Token Tracking and Analysis

BscScan allows users to track and analyze tokens on the Binance Smart Chain. Users can access information about the top BEP-20 tokens, including prices, volume, market capitalization, number of holders, and cross-chain compatibility. 

Additionally, BscScan supports ERC-721 and ERC-1155 tokens, making it possible to explore and track non-fungible tokens (NFTs) on the BSC network. 

This feature is invaluable for investors and traders looking to stay updated on the performance and trends of different tokens within the BSC ecosystem.

Gas Price Monitoring

Gas fees are essential to any blockchain network, including Binance Smart Chain. BscScan offers a gas price monitoring feature, allowing users to view real-time information about gas fees on the BSC network. 

By monitoring gas prices, users can make informed decisions about transaction fees and navigate the network efficiently. This feature is handy during periods of high network congestion when gas fees tend to fluctuate.

Using BscScan: Step-by-Step Guide

BscScan provides a user-friendly interface that makes it easy for users to navigate and extract valuable information from the Binance Smart Chain. In this step-by-step guide, we will walk you through using BscScan's key features.

BscScan

Checking Transactions on BscScan

  • Visit the BscScan website at bscscan.com.
  • In the search bar at the top of the page, enter the transaction hash or wallet address you want to investigate.
  • BscScan will query its database and display detailed information about the transaction, including the transaction amount, date, block number, balances, transaction fees, and status.
  • Take note of the transaction status, which can be pending, successful, or failed. This information will help you determine the progress and outcome of the transaction.
  • You can also explore additional details about the transaction by clicking on specific sections, such as the sender's address, recipient's address, or transaction hash.

Exploring Wallet Addresses

  • On the BscScan homepage, locate the search bar at the top of the page.
  • Enter the wallet address that you want to explore and press Enter or click the search icon.
  • BscScan will provide an overview of the wallet address, including the BNB balance and the balances of any BEP-20 tokens held in the wallet.
  • Scroll down to view the transaction history associated with the wallet address, including incoming and outgoing transactions.
  • You can click on individual transactions to access more detailed information, such as the transaction hash, block number, and transaction fee.

Verifying Smart Contracts

  • Navigate to the BscScan website and locate the "Verify Contract" section.
  • Enter the smart contract address that you want to verify.
  • Select the appropriate compiler type and open-source license type.
  • Copy and paste the Solidity contract code into the designated field.
  • Enable optimization by selecting "Yes" in the optimization dropdown menu if applicable.
  • Click the "Verify and Publish" button to initiate the contract verification process.
  • BscScan will compare the submitted code with the code running on the BSC network and provide a verification result indicating whether the contract code matches.

Tracking Tokens on BscScan

  • Access the BscScan website and navigate to the "Tokens" section.
  • Explore the top BEP-20 tokens listed on BscScan, including their prices, volume, market capitalization, and number of holders.
  • Use the search bar to find specific tokens by their contract address or token symbol.
  • Click on individual tokens for more detailed information, such as the token's contract address, token holders, transaction history, and related smart contracts.
  • BscScan also supports ERC-721 and ERC-1155 tokens, allowing users to explore and track non-fungible tokens (NFTs) on the BSC network.

Monitoring Gas Prices

  • Visit the BscScan website and locate the "Gas Tracker" section.
  • Monitor the average gas price displayed on the page.
  • Check the block size and average utilization to understand the current network congestion.
  • Scroll down to view the BSC network's top gas guzzlers and spenders.
  • Use this information to make informed decisions about gas fees and optimize your transactions on the Binance Smart Chain.

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BscScan vs. Etherscan: Key Differences

While BscScan and Etherscan share similarities as blockchain explorers, the two platforms have some key differences. Here are the main distinctions:

  • Supported Wallets: BscScan supports a limited number of wallets (e.g., MetaMask, TrustWallet) compared to Etherscan, which supports a broader range of wallets.
  • Features: Etherscan has the advantage of offering Blockchain APIs and Crypto APIs, providing developers with more advanced functionalities for interacting with the Ethereum blockchain.
  • Focus: BscScan is designed explicitly for the Binance Smart Chain, while Etherscan caters to the Ethereum network. Each explorer prioritizes features and data relevant to its respective blockchain.

BscScan and Etherscan are reputable and reliable explorers, offering valuable insights into their respective blockchain networks.

BscScan Alternatives

While BscScan is the leading blockchain explorer for the Binance Smart Chain, several alternative explorers are available for users. Here are a few notable options:

  • Binance Chain Explorer: Developed directly by Binance, this explorer provides information about blocks, transactions, wallet balances, and BNB metadata. It is available both as a web and mobile application.
  • BitQuery Explorer: BitQuery is a comprehensive explorer that supports multiple blockchains, including Binance Smart Chain. It offers advanced search and analytics capabilities for developers and researchers.
  • Binance Explorer: Binance also provides its explorer for the Binance Smart Chain, offering similar functionalities to BscScan. It is a reliable alternative for users seeking a different interface or additional features.

These alternatives provide users with different interfaces and functionalities, allowing them to choose the explorer that best suits their needs.

Is BscScan Safe?

As a leading blockchain explorer, BscScan is developed by the same team behind Etherscan, which has established a strong reputation in the blockchain community. 

BscScan is safe to use, as it does not require a connection to your BSC wallet and cannot access or acquire your funds. However, it is essential to exercise caution and verify that you are using the official BscScan website (bscscan.com) to avoid potential phishing attempts. 

Always double-check the URL and ensure that you are on the correct website before entering any sensitive information.

Is BscScan Compatible with NFTs?

Yes, BscScan is fully compatible with non-fungible tokens (NFTs). Like Ethereum, the Binance Smart Chain hosts various NFT projects, taking advantage of its lower fees and higher efficiency. 

Users can track their NFTs on BscScan using the transaction hash, NFT intelligent contract address, or wallet address. However, it is essential to note that BscScan does not display the artwork contained within an NFT. 

Users must connect to a compatible marketplace or service provider supporting the specific NFT token standard to view the artwork.

Frequently Asked Questions

Q1. How to check if liquidity is locked on BscScan?

To determine if liquidity is locked for a specific token on BscScan, you can follow these steps:

  • Go to the BscScan website and navigate to the "Tokens" section.
  • Search for the token by its contract address or token symbol.
  • Scroll down to the "Transfers" section and click on the transaction hash associated with the liquidity addition.
  • Check if the liquidity pool tokens or a burn address were sent to the development wallet.
  • Verify that the development wallet does not hold any liquidity pool tokens or check if they have been transferred to a burn address.

Q2. Can BscScan be used for other blockchain networks?

No, BscScan is designed explicitly for the Binance Smart Chain and cannot be used to explore other blockchain networks. Each blockchain has its dedicated explorer, such as Etherscan for Ethereum or Blockchain for Bitcoin

If you need to explore a different blockchain, using the corresponding blockchain explorer for accurate and relevant information is recommended.

Q3. What are the advantages of using BscScan for yield farming?

BscScan offers several advantages for users engaged in yield farming on the Binance Smart Chain:

  • Access the latest yield farming opportunities through the "Yield Farms List" feature.
  • Detailed information about different farms, including their locations and how they work.
  • The ability to track your yield farming activities, including the tokens you have staked and the rewards you have earned.
  • Lower transaction fees compared to alternative platforms like Ethereum, making yield farming on BSC more cost-effective.

Q4. Can I revoke token approvals using BscScan?

Yes, BscScan provides the "Token Approval Checker" tool that allows users to review and revoke token approvals for decentralized applications (DApps).

Connecting your wallet to BscScan and using the Token Approval Checker lets you see which DApps can access your tokens and revoke their permissions if desired. This feature gives users more control over their token holdings and helps ensure the security of their assets.

Q5. How does BscScan ensure contract verification?

BscScan's contract verification process involves comparing the source code of a smart contract with the compiled code running on the Binance Smart Chain. 

This process ensures that the code deployed on the blockchain matches the source code provided by the developer. 

BscScan's verification process enhances transparency and security by allowing users to verify intelligent contracts' functionality and integrity independently.

Q6. What are the risks of using BscScan?

While BscScan is a reputable and reliable blockchain explorer, some risks are associated with using any online tool. It is essential to be cautious and follow best security practices when using BscScan or any other blockchain explorer:

  • Ensure you use the official BscScan website (bscscan.com) to avoid phishing attempts.
  • Double-check the URL and ensure that you are on the correct website before entering any sensitive information.
  • Be wary of fake or malicious contracts, tokens, or DApps. Always conduct thorough research and due diligence before interacting with unknown projects.
  • Keep your personal information and wallet details secure. Avoid sharing sensitive information with unknown individuals or platforms.

Q7. How can I contribute to the BscScan community?

If you are interested in contributing to the BscScan community, there are several ways to get involved:

  • Participate in discussions on the BscScan forums or social media channels.
  • Report any bugs or issues you encounter using BscScan to the development team.
  • Provide feedback and suggestions for improving the platform's features and user experience.
  • Contribute to the BscScan open-source project on GitHub if you have programming skills.

Your contributions can help enhance the functionality and usability of BscScan for the entire Binance Smart Chain community.

Conclusion

BscScan is a powerful and essential tool for navigating the Binance Smart Chain ecosystem. Whether you are an investor, developer, or blockchain enthusiast, BscScan provides valuable insights into the BSC network's transactions, smart contracts, tokens, and gas prices. 

By leveraging BscScan's features, you can make more informed decisions, track your investments, and ensure the security of your digital assets. Explore BscScan today and unlock the full potential of the Binance Smart Chain.

Disclaimer

The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other advice, and you should not treat any of the website's content as such.

Token Metrics does not recommend that any cryptocurrency should be bought, sold, or held by you. Conduct your due diligence and consult your financial advisor before making investment decisions.

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Recent Posts

Crypto Basics

What is Litecoin Halving and its Impact?

S. Vishwa
6 Minutes

Cryptocurrency enthusiasts and investors always look for events that can potentially impact their favorite digital assets' price and market dynamics. One such event that often generates excitement and speculation is halving. 

In this comprehensive guide, we will delve into the world of Litecoin halving, exploring its meaning, the potential impact on price, and strategies for trading this critical milestone. So, fasten your seatbelts and join us on this journey to uncover the secrets of Litecoin halving.

Understanding Litecoin Halving

Litecoin, often referred to as Bitcoin's "little brother," shares many similarities with its more famous counterpart. One of these similarities is the mechanism of halving. 

Litecoin halving is a process that occurs approximately every four years, reducing the mining rewards for validating transactions on the Litecoin blockchain. 

This reduction in rewards has significant implications for miners, the Litecoin ecosystem, and the price of Litecoin itself.

Unlike traditional fiat currencies, which can be printed at will by central banks, cryptocurrencies like Litecoin have a limited supply. In the case of Litecoin, the maximum supply is set at 84 million coins. 

The purpose of halving is to control the rate at which new Litecoins are introduced into circulation, ensuring a gradual and predictable issuance of new coins. By reducing the block rewards, Litecoin aims to maintain scarcity and prevent inflationary pressures.

The Mechanics of Litecoin Halving

To understand Litecoin halving, we must first grasp the concept of block rewards. New Litecoins are created when miners add new transactions to blocks. 

The miner who successfully adds a block to the Litecoin blockchain is rewarded with a certain amount of Litecoin. This reward consists of a fixed number of new Litecoins and transaction fees included in the block.

Litecoin halving occurs after every 840,000 blocks are mined. Considering the average block mining rate of 2.5 minutes, this event takes place approximately once every four years. 

During halving, the block reward is cut in half, reducing the number of Litecoins awarded to miners for validating transactions. This process will continue until no more Litecoins are left to mine, which is estimated to occur around the year 2142.

The Impact of Litecoin Halving

Litecoin halving has a twofold impact: on miners and on the price of Litecoin itself. Let's explore these effects in more detail:

Impact on Miners: Reducing block rewards directly affects miners' income. With each halving event, miners receive fewer Litecoins for their efforts in validating transactions. 

This decrease in rewards can have profound implications for the mining community. On one hand, it may discourage less serious miners who are primarily motivated by potential financial gains. 

On the other hand, it can create an environment where only committed and dedicated miners continue to operate, ensuring the security and stability of the Litecoin network.

Also Read - How to Mine Litecoin?

Impact on Price: The halving event also has implications for the price of Litecoin. Reducing mining rewards leads to a decrease in the supply of newly minted Litecoins. 

This decrease in supply, coupled with the constant demand for Litecoin, can create a supply-demand imbalance, potentially driving up the price of the LTC

However, it is essential to note that the price action following halving events is highly unpredictable and influenced by various factors such as market sentiment, investor behavior, and overall market conditions.

Litecoin Halving History

Litecoin has already experienced halving events in its history. Let's take a closer look at some of Litecoin's halving dates:

Litecoin Halving Dates

As per the existing schedule, Litecoin halving events occur approximately every four years. The next halving is expected to occur in 2027, further reducing the block reward to 1.5625 LTC. These halving events play a vital role in controlling the issuance of new Litecoins and maintaining scarcity in the long run.

Litecoin Halving and Price Predictions

One of the most common questions surrounding Litecoin's halving is how it will impact the price of the cryptocurrency. 

While it is challenging to provide an accurate prediction, historical data, and market trends can give us some insights into potential price movements.

Previous Litecoin Halving Price Trends

Looking back at the previous halvings, Litecoin's price exhibited distinct patterns following each event. Let's examine the price trends after the first and second Litecoin halvings:

First Litecoin Halving (August 25, 2015)

After the first halving, Litecoin's price initially traded sideways for over a year, entering a phase of stagnation. 

While a buy-and-hold strategy may not have been the most profitable approach during this period, traders employing ranging market strategies could have capitalized on the price fluctuations. 

This stagnation phase was followed by a bull phase, characterized by a significant increase in Litecoin's price over a period of six months to a year. 

A pullback/bear phase eventually succeeded the bull phase, marked by a correction lasting approximately a year. Finally, Litecoin entered an accumulation phase, likely driven by pre-halving accumulation, before the cycle repeated itself with the second halving.

Also Read - Next Crypto Bull Run

Second Litecoin Halving (August 5, 2019)

The second halving event saw a different price trajectory for Litecoin. Prior to the halving, Litecoin experienced an upward trend, reaching a peak in July 2019. 

However, the price started to decline immediately after the halving, leading to a period of bearish sentiment. The price continued to fall until it stabilized, and the market entered a period of consolidation and accumulation.

Price Predictions for Future Halvings

Predicting the exact impact of the upcoming Litecoin halving on its price is challenging. While historical data provides some insights, it is crucial to consider other fundamental factors that influence Litecoin's price volatility and trends. 

Factors such as Bitcoin's price movements, the level of adoption of Litecoin, and overall market sentiment can significantly influence the price of Litecoin in the long run.

While past halving events have historically positively impacted the price of Litecoin, it is important to note that past performance does not guarantee future results. 

Market conditions and cryptocurrency prices can be highly volatile, and the future performance of Litecoin is subject to various factors and uncertainties. 

Therefore, it is advisable to conduct thorough research, consider the risks associated with cryptocurrency investments, and consult a financial advisor before making any investment decisions.

Conclusion

Litecoin halving is a significant event in the world of cryptocurrencies, with potential implications for miners, the price of Litecoin, and trading strategies. 

Understanding the mechanics and history of Litecoin halving can provide valuable insights for investors and traders. 

While the exact impact of halving on Litecoin's price is uncertain, it is essential to consider various factors and conduct thorough research before making any investment decisions. 

Whether you choose to trade Litecoin halving or explore other avenues to grow your Litecoin holdings, always remember to stay informed, manage risk effectively, and consult with professionals when needed.

Disclaimer

The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other advice, and you should not treat any of the website's content as such.

Token Metrics does not recommend buying, selling, or holding any cryptocurrency. Conduct your due diligence and consult your financial advisor before making investment decisions.

Crypto Basics

Upcoming Crypto Airdrops - The Gateway to Wealth Generation

Token Metrics Team
13 Minutes

Welcome to the world of crypto airdrops! In this article, we will explore the exciting space of upcoming crypto airdrops and how they have the potential to generate massive wealth. 

As the crypto market continues to evolve and mature, airdrops have become an integral part of the ecosystem, offering investors and enthusiasts the opportunity to receive free tokens and participate in groundbreaking projects. 

We will delve into the details of 16 highly anticipated projects that are set to make waves in the coming months. So buckle up and get ready for a wild ride into the world of upcoming crypto airdrops!

The Crypto Bull Run and Altcoin Season

Before we dive into the specific projects, let's take a moment to understand the context in which these airdrops are taking place. The crypto market is currently experiencing an unprecedented bull run, with Bitcoin leading the way. 

As we approach the Bitcoin halving and the anticipated approval of the Bitcoin ETF, experts predict that we are on the brink of the biggest altcoin season ever. This means that while the returns on Bitcoin may start to diminish, there is still ample opportunity to make significant gains in altcoins. 

The market has already surpassed the 1.7 trillion mark, and with the Bitcoin halving and ETF approval on the horizon, it is estimated that the market cap could reach as high as 14 trillion. This presents a golden opportunity for investors to capitalize on the altcoin frenzy and potentially achieve life-changing returns.

The Biggest Free Crypto Airdrops of All Time

Now, let's take a moment to reflect on some of the biggest free crypto airdrops in history. These airdrops have proven to be extremely lucrative for those who were fortunate enough to participate. 

The most notable examples include Arbitrum, which distributed a staggering 12.6 billion dollars worth of tokens, with the average user receiving $2,200. Another highly successful airdrop was Uniswap, where the average participant received almost $30,000. 

These figures are simply mind-boggling and highlight the immense potential of airdrops to generate wealth. However, it is important to note that not all airdrops are created equal, and careful selection is crucial to maximizing your returns.

How to Choose Promising Airdrops?

With over 600 projects to choose from, it can be overwhelming to determine which ones have the potential for significant returns. That's where Token Metrics comes in. Token Metrics is a leading platform that utilizes AI and data-driven analysis to evaluate and identify promising projects. 

Their blockchain engineers and analysts have meticulously reviewed over 600 projects in the past year, focusing on two key criteria: technology and fundamentals. 

Only projects that score 80% or higher in technology or have solid fundamentals are considered for inclusion in their list of potential 100x airdrops. 

By leveraging their expertise and track record, you can make informed decisions and increase your chances of participating in highly lucrative airdrops.

Confirmed Crypto Airdrops

Now, let's dive into the projects that have been confirmed to have upcoming airdrops. These projects have met Token Metrics' stringent criteria and have the potential to deliver substantial returns. Here are a few projects-

1. Starknet - Starknet is a scalability solution that operates as an Ethereum ZK rollup. With a tech score of 92%, this project is as legitimate as they come. The main narrative surrounding Starknet revolves around ZK rollups and layer two solutions. 

It competes with other notable projects such as Linear, Scroll, Tyco, and Polygon ZKEVM. Having raised over $100 million at an $8 billion valuation, Starknet has garnered support from prominent investors like Paradigm, Sequoia, and Taka Global. The project has also witnessed significant growth in developer activity, making it one to watch closely for its upcoming airdrop.

2. Peaq - Peaq is a layer one blockchain for depin, boasting a tech score of 89%. This project aims to compete with leading L1 solutions like Solana by offering depin layer one functionalities. 

With $6 million raised and notable investors such as Fundamental Labs backing the project, Peaq has already gained traction in the market. 

Their testnet, Crest, further demonstrates their commitment to delivering a robust blockchain solution. If you are bullish on depin technologies, Peaq's upcoming airdrop is one you cannot afford to miss.

3. Dymension - Dymension is a blockchain platform for rollups, specializing in building modular rollup chains. With a tech score of 87%, Dymension has proven to be a solid contender in the space. 

Its key narratives revolve around rollups, modular blockchains, and appchains. Competitors such as Caldera, Outlayer, and Opside keep the project on its toes, driving innovation and growth. 

With $6.7 million raised and notable investors like Big Brain Holdings and Cognitive Ventures on board, Dymension's upcoming airdrop presents an exciting opportunity for investors looking to participate in the rollup revolution.

4. Movement - Movement is another promising project that has caught the attention of Token Metrics. As an investor in Movement's seed round, Token Metrics Ventures recognizes its potential for significant returns. 

Movement is a modular blockchain that utilizes the Move VM and Move programming language. With a tech score of 85%, Movement offers developers the ability to launch their own blockchain or app chain quickly and efficiently. 

Its key narratives revolve around Aptos and Sui ecosystems, making it an attractive option for those bullish on these technologies. With $3.4 million raised and investors like Borderless Capital and Token Metrics Ventures backing the project, Movement's upcoming airdrop is one to watch.

5. LayerZero - The LayerZero protocol, renowned for its unique approach to interoperability, has taken the crypto community by storm with its latest strategic move – the LayerZero Airdrop. 

This event represents not just a chance for enthusiasts and supporters to receive a token of appreciation but also serves as a pivotal moment for increased network participation and adoption. 

The platform serves as a protocol to facilitate interoperability, employing an innovative method to simplify the integration of various blockchain networks. LayerZero Labs, the creator of this protocol, successfully secured $120 million in funding, achieving a valuation of $3 billion in April. 

As the buzz continues to build, participants eagerly await further details, underscoring the community's excitement and the protocol's potential to revolutionize cross-chain communication.

Likely Crypto Airdrops

In addition to the confirmed airdrops, there are also several projects that have incentive programs in place, making their airdrops highly likely to happen. 

While these projects may not have met all the criteria for a confirmed airdrop, they still present enticing opportunities for investors. Here are a few projects that fall into this category:

1. Scroll - Scroll is a native ZK-EVM Layer 2 solution for Ethereum designed to enhance scalability. With a tech score of 89%, Scroll has proven its technical prowess. Key narratives surrounding Scroll include ZK rollups and Layer 2 solutions. 

Competitors such as Starknet, Tyco, and Polygon ZK-EVM keep Scroll on its toes, fostering healthy competition and driving innovation. 

Having raised over $120 million at a $3 billion valuation, Scroll has garnered support from prominent investors like A16Z Crypto, Sequoia, and OpenSea. With a significant developer community and growing traction, Scroll's upcoming airdrop is definitely one to watch.

2. Linea - Linea is a project from the team behind ConsenSys, the company behind Metamask. With a tech score of 90%, Linea is a force to be reckoned with in the ZK rollup space. Its key narratives revolve around ZK rollups and Layer 2 solutions. 

Competing with projects like Starknet, Tyco, and Polygon ZK-EVM, Linear has raised $450 million in a series D funding round. With over 30 million monthly active users, Linea's upcoming airdrop presents an exciting opportunity for investors looking to participate in the ZK rollup revolution.

3. Ten - Ten is an upcoming airdrop that is definitely worth keeping an eye on. Obscuro, now firmly known as Ten, is a fully encrypted layer two Ethereum rollup. 

This technology essentially aids in the scalability of Ethereum. It's somewhat of a hybrid between Optimistic and ZK, utilizing trusted execution environments (essentially hardware) to encrypt transactions. 

With a tech score of 89%, it was a compelling investment for us. The major narratives surrounding Ten are privacy, rollups, and L2s.

Its competitors include Askec, Secret Network, and Railgun. Other investors in Ten are Qcoin Labs, Republic Capital, Big Brain, and Cogent Ventures. I'd like to draw a comparison within the privacy space of blockchains, specifically in terms of their flexibility and robustness.

On one end of the spectrum, we have Zcash, Monero, and Aztec, which are highly robust. Then we have Ten (formerly Obscuro) and Secret Network, which offer more flexibility. This comparison provides a sense of where these entities fit within the privacy spectrum.

4. Avail - Avail is a project that spun out of Polygon, making it a part of the Polygon ecosystem. With a tech score of 87%, Avail is poised to make waves in the crypto world. Its key narratives revolve around modular and data availability. 

Competing with projects like Celestia and EigenLayer. Avail has already raised significant funding, including a valuation of $1.8 billion. With a growing ecosystem of builders and developers, Avail's upcoming airdrop is one you don't want to miss.

5. Parcl - Parcl is an innovative trading platform that allows users to engage in the real estate market across various cities in real-time, offering a unique approach to property investment. 

Despite being a fundamental project with limited open-source code for technical review, it has garnered a credibility score of 77%, signaling its legitimacy. 

The platform's arrival is timely, especially for those who may have missed out on previous Solana airdrops, and it's certainly worth monitoring. 

Parcl stands out by tapping into the derivatives space of real-world assets, particularly real estate, which distinguishes it within the market, Parcl operates within its own niche with relatively little direct competition.

The project has successfully raised $4.1 million from noteworthy investors, including Archetype, Coinbase Ventures, Shema Capital, Tribe Capital, Dragonfly Capital, and NotBoring Capital. 

Parcl's platform caters to both bullish and bearish sentiments in the real estate markets of major cities like London, Miami, Dallas, or Austin, Texas, enabling users to go long or short on real estate indices without engaging in physical property transactions. 

This feature particularly appeals to crypto investors seeking to diversify their portfolios into real estate while remaining within the cryptocurrency ecosystem. 

Moreover, the recent launch of a community points program by Parcl has sparked speculations about a potential airdrop, drawing parallels with the strategies of FrontTech, and increasing the platform's appeal among users and investors.

Possible Crypto Airdrops

Lastly, let's explore some projects that fall into the realm of speculation and excitement. These projects have not yet confirmed an airdrop, but they are certainly worth mentioning due to their potential. Here are a few projects that have caught our attention:

1. Eclipse - Eclipse is a Layer 2 blockchain that integrates Solana's virtual machine with Ethereum. Boasting a tech score of 94%, it's an exceptionally promising project. 

Its main themes involve Solana, Layer 2 solutions, and modular blockchains. After securing $15 million in funding, it has attracted backing from notable investors such as Tribe Capital and Coin List. 

Given its innovative approach and the potential to bridge Solana and Ethereum, this potential airdrop is worth watching.

2. Taiko - Taiko is a decentralized Ethereum equivalent type-one ZKEVM. With a tech score of 90%, Taiko has established itself as a solid contender in the ZK rollup space. Its key narratives revolve around ZK rollups and Layer 2 solutions. 

Competitors like Scroll, Linea, and Polygon ZKEVM keep Taiko on its toes, fostering healthy competition and driving innovation. With $22 million raised and investors like Qcoin Ventures and GSR backing the project, Taiko's possible airdrop presents an exciting opportunity for investors looking to participate in the ZK rollup revolution.

3. Aztec - Aztec is a private ZK rollup on Ethereum that offers privacy at scale. With a tech score of 89%, Aztec is a strong contender in the privacy space. Its key narratives revolve around ZK rollups and Layer 2 solutions. 

Competitors like Ten (formerly Obscura) and Railgun keep Aztec on its toes, fostering healthy competition and driving innovation. 

With $100 million raised and investors like A16Z Capital and SV Angel backing the project, Aztec's possible airdrop is worth watching.

4. ZkSync - ZkSync is a Layer 2 Zk rollup that offers scalability and privacy. With a tech score of 89%, ZkSync is a force to be reckoned with in the Zk rollup space. Its key narratives revolve around Layer 2 solutions and Zk rollups. 

Competitors like Scroll, Linea, and Starknet keep ZkSync on its toes, fostering healthy competition and driving innovation. With $200 million raised and prominent investors like Dragonfly and Lightspeed backing the project, ZkSync's possible airdrop presents an exciting opportunity for investors looking to participate in the Layer 2 revolution.

5. Zetachain - Zetachain is one such project that hasn't garnered much attention. While it's purely speculative at this point, it's worth considering. Zetachain is a layer-1 blockchain designed for Omnichain interoperability.

It has a tech score of 89% and is a layer-1 and cross-chain platform. Its competitors include Cosmos, IBC, Polkadot, and Bisham Network. 

Zetachain has raised $27 million to develop an interoperable layer one blockchain that can connect all chains, including Bitcoin, Cosmos, and ETH. 

Its investors include blockchain.com and other investors such as Jane Street and GSR. He provides a comparison table showing how Zetachain stacks up against Cosmos, Polkadot, ThorChain, and other bridges in messaging. 

It's important to note that this information is from their project, so they claim to have all capabilities. This gives an idea of its competitiveness. It's worth monitoring for a potential airdrop. This is a project that hasn't been widely discussed.

6. Astria - Astria is a decentralized shared sequencer, addressing the growing concern about the centralization of sequencers. Astria aims to resolve this issue by decentralizing and sharing them. The technology is highly credible, with an 87% legitimacy rating. The key narratives here are modular rollups.

Astria, a modular blockchain, has raised $5.5 million to construct a shared C-concern network. Its investors include Maven 11, Delphi Digital, Figment, and Robot Ventures. 

But how does it operate? Astria aims to fit into the modular narrative, share a sequencer, and decentralize it. This is similar to how Celestia attempted to do the same with data availability or EigenLayer. 

Now, different parts of the blockchain are being taken, in this case, the sequencer, and turned into a shared and decentralized resource.

Token Metrics: Going Fully Web3

Now, let's shift our focus to an exclusive announcement that has never been shared before. Token Metrics, a leading platform for AI-driven crypto analysis, is going fully web three in early 2024. 

This means that Token Metrics embraces decentralization and offers an airdrop exclusively for their customers. As a customer of Token Metrics, you will have the opportunity to participate in their airdrop and become part of their Web Three ecosystem. 

This exciting development will bring together various products, including a trading bot, indices, and a mobile application, all connected through the Token Metrics token. Look for further details and instructions on qualifying for this exclusive future airdrop.

Conclusion

In conclusion, upcoming crypto airdrops offer an incredible opportunity for investors to generate substantial wealth. By carefully selecting promising projects and leveraging the expertise of platforms like Token Metrics, you can increase your chances of participating in highly lucrative airdrops. 

Whether you choose to invest in confirmed airdrops, likely airdrops, or explore the realm of speculation, it is important to do your own research and make informed decisions. 

The crypto market is full of exciting opportunities, and airdrops are just one of the many ways to take advantage of this rapidly evolving ecosystem. So buckle up and prepare for the wild ride of upcoming crypto airdrops!

Disclaimer

The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other advice, and you should not treat any of the website's content as such.

Token Metrics does not recommend buying, selling, or holding any cryptocurrency. Conduct your due diligence and consult your financial advisor before making investment decisions.

Crypto Basics

The Ultimate Guide to Initial Exchange Offerings (IEOs)

Marcus K
8 Minutes

In the world of cryptocurrency fundraising, Initial Exchange Offerings (IEOs) have emerged as a popular alternative to Initial Coin Offerings (ICOs).  IEOs provide a more secure and trustworthy platform for startups to raise capital and for investors to participate in token sales. 

This comprehensive guide will walk you through everything you need to know about IEOs, including their definition, how they work, their advantages and disadvantages, and tips for a successful IEO fundraising event.

What is an IEO?

An Initial Exchange Offering, or IEO, is a fundraising event where the sale of tokens is conducted through an established cryptocurrency exchange platform.

Unlike ICOs, which a holding company organizes on its own platform, IEOs are conducted by exchange platforms on behalf of the project raising funds. This shift from ICOs to IEOs has occurred due to the loss of trust and confidence in ICOs caused by numerous cases of fraud and scams.

IEOs provide a more secure and regulated environment for both investors and projects. They require a thorough verification process and the submission of a white paper to ensure the legitimacy and viability of the project.

IEOs often implement Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to protect investors and prevent fraud. Overall, IEOs aim to restore trust and credibility in the cryptocurrency fundraising landscape.

How does an IEO work?

The process of conducting an IEO involves several steps to ensure the project's legitimacy and investors' safety. 

Firstly, the exchange platform verifies the project, which includes checks to ensure the project's claims are valid. This verification process is crucial to maintain the reputation of the exchange platform and protect investors from scams.

Next, the project must submit a white paper, which serves as an informative document detailing the technical aspects of the product, its architecture, and the problem it aims to solve. 

The white paper also includes information about the team behind the project, tokenomics, and the reasons why investors should be interested in the project. After the project passes the verification process and the white paper is approved, the exchange platform sets a date for the token sale. 

Investors are required to follow KYC and AML procedures to participate in the IEO. This ensures that only legitimate investors are involved and helps prevent money laundering and other illegal activities.

Once the IEO begins, investors can purchase the project's tokens directly from their exchange wallets. The exchange platform facilitates the token sale and ensures transparency by providing updates on the project's progress to investors. After the IEO is completed, the tokens are listed on the exchange platform for trading.

Advantages of IEO

IEOs offer several advantages over ICOs and other fundraising methods. Here are some key benefits of participating in an IEO:

  1. Increased Trust and Credibility: IEOs are conducted through established cryptocurrency exchange platforms, adding trust and credibility to the fundraising process. Investors have more confidence in participating in an IEO due to the due diligence performed by the exchange platform.
  2. Improved Investor Protection: IEOs often implement KYC and AML measures to verify the identity of investors and prevent fraudulent activities. This ensures that only legitimate investors can participate in the token sale and reduces the risk of scams and fraud.
  3. Better User Experience: Compared to ICOs, IEOs provide investors a smoother and more user-friendly experience. The token sale is conducted directly through the exchange platform, eliminating the need for investors to navigate multiple websites or wallets.
  4. Regulated Environment: IEOs are regulated according to the rules and guidelines set by the exchange platform. This reduces the risk of fraudulent projects and provides investors with a safer investment environment.
  5. Access to Established Investor Base: Projects gain access to a large and established investor base by conducting an IEO on a reputable exchange platform. This increases the visibility and reach of the project, attracting more potential investors.

Disadvantages of IEO

While IEOs offer several advantages, there are also some disadvantages to consider. Here are a few potential drawbacks of participating in an IEO:

  1. Varying Exchange Platform Standards: Not all cryptocurrency exchange platforms have the same level of diligence and regulation when it comes to conducting IEOs. It's important to research and choose an exchange platform that has a good reputation and implements strict standards.
  2. Listing Fees and Commissions: Listing fees on reputable exchange platforms can be high, and startups may be required to give a commission from token sales to the exchange. These costs can impact the budget and profitability of the project.
  3. Risk of Pump and Dump Scams: While IEOs are generally more regulated than ICOs, they are not immune to pump and dump scams. It is important for investors to conduct thorough research and due diligence before participating in an IEO to avoid falling victim to such scams.

Other Fundraising Methods in the Crypto Space

While IEOs have gained popularity in recent years, other fundraising methods are also available in the crypto space. Here are a few alternatives to IEOs:

Initial Coin Offerings (ICOs)

ICOs were the dominant fundraising method before IEOs emerged. They involve the sale of tokens directly from the project's own platform. However, ICOs have faced criticism due to the lack of regulation and numerous cases of fraud.

Security Token Offerings (STOs)

STOs involve the sale of security tokens, which are regulated financial securities. These tokens represent ownership in an underlying asset, such as shares in a company or real estate. STOs offer more regulatory compliance and investor protection compared to ICOs and IEOs.

Initial DEX Offerings (IDOs)

IDOs are similar to ICOs and IEOs but are conducted on decentralized exchanges (DEXs). These offerings provide a more decentralized fundraising option, allowing projects to launch tokens on DEXs without needing a centralized exchange platform.

Tips for a Successful IEO Fundraising Event

Launching a successful IEO requires careful planning and execution. Here are some tips to help you navigate the IEO process and maximize your chances of success:

1. Analyze your market scenario and idea

Before launching an IEO, it is crucial to analyze your project and the current market scenario. Understand the market needs and identify any gaps or problems your project aims to solve. This will help you position your project effectively and attract investors.

2. Develop a Minimum Viable Product (MVP)

Established exchange platforms typically list projects that have made significant progress. Having a functional MVP or demonstrating ongoing development is important to gain credibility and increase your chances of being listed on a reputable exchange platform.

3. Choose the right exchange platform

Selecting the right exchange platform is key to the success of your IEO. Consider factors such as the platform's reputation, user base, security measures, and listing requirements. Research and choose a platform that aligns with your project's goals and values.

4. Draft a comprehensive white paper

A well-written and informative white paper is essential for attracting investors and exchange platforms. Clearly articulate your project's vision, technical aspects, tokenomics, and the benefits it offers to investors. Use diagrams and flowcharts to illustrate complex concepts and make the white paper more engaging.

5. Design a professional website

Your project's website is important for providing information to potential investors. Ensure that your website is well-designed, user-friendly, and secure. Highlight the unique selling points of your project and keep the website updated with the latest developments.

6. Develop tokens and set a clear funding goal

Create tokens that will be sold during the IEO and determine the maximum amount of funds you aim to raise. Setting a clear funding goal demonstrates transparency and helps investors understand the purpose of the token sale.

7. Market your project effectively

Utilize various marketing channels, such as social media, press releases, and blogging, to create awareness and generate interest in your project. 

Engage with the crypto community, participate in forums, and collaborate with influencers to expand your reach and attract potential investors.

8. Maximize post-IEO promotion

After the IEO, continue to promote your project to maintain momentum and attract more investors. Leverage social media platforms, distribute press releases, and provide regular updates on your project's progress. Engage with your community and address any questions or concerns promptly.

9. Build a strong community

A strong and supportive community can greatly contribute to the success of your IEO. Focus on building a community of genuine supporters who are passionate about your project. Engage with them through social media, forums, and community events to foster loyalty and advocacy.

10. Diversify your investor base

Don't limit your investor base to a single geographical region or language. Consider expanding your reach and targeting diverse communities to attract a wider range of investors. Hire community managers who understand the specific needs and preferences of different regions.

By following these tips, you can increase your chances of launching a successful IEO and attracting the support and investment your project needs.

Conclusion

Initial Exchange Offerings (IEOs) have emerged as a more secure and regulated alternative to Initial Coin Offerings (ICOs) in the cryptocurrency fundraising landscape. 

Conducted through established exchange platforms, IEOs provide a trustworthy platform for startups to raise capital and for investors to participate in token sales. 

By following the tips and understanding the advantages and disadvantages of IEOs, you can navigate the IEO process effectively and increase your chances of success. 

With proper planning, a solid project, and effective marketing, an IEO can be a valuable fundraising tool for blockchain projects.

Disclaimer

The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other advice, and you should not treat any of the website's content as such.

Token Metrics does not recommend buying, selling, or holding any cryptocurrency. Conduct your due diligence and consult your financial advisor before making investment decisions.

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