Top 5 Upcoming Layer 2 Tokens In 2024

October 4, 2023 - Around 11 mins mins to read

In the early days of the cryptocurrency ecosystem, airdrop programs served as an effective means to introduce new or existing projects to the crypto community. Let’s take a look at the top 5 Upcoming Layer 2 Tokens in 2023 with Coincu.

Potential of Upcoming Layer 2 tokens

In the fast-paced world of cryptocurrencies, innovations continue to emerge, reshaping the landscape of blockchain technology. One such innovation gaining increasing attention is Layer 2 solutions. Layer 2, in the context of blockchain technology, refers to an off-chain network, system, or technology built on top of a blockchain, commonly known as a Layer-1 network. These Layer 2 solutions play a pivotal role in extending the capabilities of the underlying base-layer network.

However, the emergence of Layer 2 projects such as Arbitrum and Optimism has added an intriguing twist to the concept of airdrops. These Layer 2 solutions have caused a stir by distributing tokens to users through airdrops. This has raised a pertinent question: How can one stay informed about upcoming Layer 2 tokens?

Cryptocurrency projects are increasingly relying on incentivization strategies to attract users and generate interest in their products and brands. Airdrops are a prime example of such strategies, serving as a dual marketing and reward system.

These programs typically reward new users for performing simple social tasks related to the project. Upon successful completion, participants received a certain number of tokens as rewards. This approach helps projects gain attention and build a user base. So the upcoming discovery of Layer 2 network tokens is a very potential source of profit for veteran players.

How to participate early?

One of the most prevalent ways to boost your eligibility for new airdrops is by actively engaging with the project’s testnet. Testnets are simulated environments where users can interact with the project’s technology without risking real assets.

By participating in the testnet and providing feedback, users demonstrate their interest and commitment to the project, often making them eligible for token rewards during the mainnet launch. It’s unclear what the upcoming Layer 2 tokens will be, but arriving early is always beneficial, right?

Layer 2 solutions are poised to play a pivotal role in the evolution of blockchain technology. As they continue to gain traction, the distribution of tokens through airdrops on these networks offers an exciting opportunity for crypto enthusiasts to be part of innovative projects. Staying informed about upcoming Layer 2 tokens can prove to be both rewarding and insightful for those passionate about the crypto space.

The fusion of Layer 2 solutions and airdrop programs represents a promising synergy in the ever-evolving world of cryptocurrencies. As projects explore new ways to engage with their communities, users are willing to actively participate and support these initiatives to reap the benefits in the form of valuable tokens.

Top 5 Upcoming Layer 2 tokens in 2023

Below is an overview of potential upcoming Layer 2 tokens in 2023 that you can refer to:

zkSync Era
Linea
Base
StarkNet
Scroll

1. zkSync Era

Overview

zkSync Era is an upgraded version of zkSync Lite and was launched on the mainnet on March 24, 2023. The project is a layer 2 solution that utilizes Zk Rollups technology to increase transaction speed and enhance network security. zkSync Era is the first Layer 2 zkEVM built on the Ethereum Mainnet network, which offers significantly faster speeds compared to other Layer 2 solutions using Optimistic Rollup technology.

Potentials for airdrop

TVL: $468M
Wallet Addresses: nearly 5M
Total Transactions: 137,164,773 Impressive numbers after 6 months of mainnet
X Followers: 1.2M
Raise fund: ZkSync has received a total of over 458 million USD through more than 3 funding rounds, including:
- Series A (Q3/2021): Received 6 million USD from Binance, Coinbase Ventures, Balancer, Aave, and Curve.
- Series B (Q4/2021): Received 50 million USD from a16z, Blockchain.com, Crypto.com, Bybit, Consensys, OKEx, Covalent.
- January 2022: Matter Labs has secured a $200 million investment from BitDAO to build the zkSync ecosystem.
- Series C (Q4/2022): Received 200 million USD led by Blockchain Capital and Dragonfly, along with other investors such as Light Speed Venture Partners, Variant, a16z,…
Partners: zkSync is a layer 2, so they have many partners spanning across various areas of the blockchain market.
- CEX exchanges: Bybit, Huobi.
- Projects: Curve, 1inch, Hop Protocol, Aave.
Investment funds: Mirana Venture, a16z, Dragonfly.
Infrastructure: Chainlink, Arkn, Gitcoin, Unstoppable Domain.

Highlights

Fast processing speed: zkSync is designed to provide fast transaction processing times. Transactions can be processed in as little as 0.1 seconds, much faster than the Ethereum mainnet.
Low transaction fees: Since zkSync transactions are processed off-chain, they are much cheaper than transactions on the Ethereum mainnet.
High throughput: zkSync can support high transaction parameters, meaning it can handle a large number of transactions per second. This makes it suitable for high-volume transaction applications.
Decentralization: zkSync is a solution focused on layer 2 scaling for Ethereum. This means it is secure and avoids censorship.
Non-custodial: zkSync is a non-custodial solution. This means users always have full control over their funds. Additionally, users can deposit and withdraw funds from zkSync quickly at any time.
Interoperability support: zkSync is designed to be compatible with Ethereum-based applications. This means project developers can easily integrate zkSync with their applications.

Especially the integration of Paymaster and support for Account Abstraction (AA) on zkSync Era.

2. Linea

Overview

Linea is a zero-knowledge Ethereum Virtual Machine (zkEVM) type 2. zkEVM will be able to replicate the Ethereum environment as a synthesis (Rollups) and allow developers to build on it just like on Ethereum. For users, this allows them to experience and ensure the security of Ethereum, but with low transaction costs.

Potentials for airdrop

TVL: $65.74M
Wallet Addresses: 842K
Total Transactions: 8,837,742 Impressive numbers after nearly 3 months of mainnet
X Followers: 574K
Linea is sponsored and developed by Consensys, a blockchain technology company involved in many important projects on Ethereum such as Metamask and Infura.
Raise fund: ConsenSys has raised over $727 million, specifically:
- In Series C: ConsenSys raised over $200 million with a valuation of $3.2 billion from major funds such as Animoca Brands, Coinbase Ventures…
- In Series D: ConsenSys raised $450 million, increasing the valuation to $7 billion, backed by ParaFi Capital, Microsoft, SoftBank, and Temasek.
Partners: Relatively prestigious and prominent partners with names like UniSwap, Hop Protocol, Lens Protocol, Celer Bridge, and LayerZero… and currently these projects have been launched on the Linea ecosystem.

Highlights

Linea brings friendliness to developers with easy integration with ConsenSys products, such as:

MetaMask: directly integrated with dApps developed on Linea.
Infura: with API from Infura, developers can deploy dApps faster and scale with 99.9% uptime reliability.
Truffle: a tool that allows developers to build, test, debug, and deploy smart contracts on zkEVM.
Besu: an optimized execution tool for zkEVM transactions using ethereum battle-tested technology.

3. Base

Overview

Base is a decentralized Layer-2 solution built on Ethereum that utilizes the technology of Optimism. Specifically, Base is built on the open-source code of the OP Stack, a toolset for developing Optimism’s Superchain.

Potentials for airdrop

TVL: $552M
Wallet Addresses: 892K
Total Transactions: 17,612,674 Impressive numbers after 2 months of mainnet
X Followers: 461K
The company’s Chief Legal Officer Coinbase revealed a big clue about the potential future BASE token.
Partners: With Coinbase’s strong ecosystem, it is certain that Base partners are also the same.

Highlights

Similar to other Layer 2 solutions, Base will be secured by Ethereum along with Coinbase’s other security measures. Backed by Coinbase is the biggest advantage that Base has, allowing it to reach over 110 million users and be compatible with CeDeFi products.

Convenience and low cost: Base will operate similarly to other Optimistic Layer 2s, fully compatible with the EVM, enabling developers to easily build products, attract users, and leverage the robust infrastructure provided by Base.
Major features, low fees: Base provides full EVM-equivalent features at a fraction of the cost, committing to empower the developer platform. Set up gasless transactions for your dapps with easy-to-use developer APIs to abstract accounts and safely build cross-chain applications with user-friendly bridges.
Open-source: Base aims for decentralization, licensing-free, and is open to anyone with a vision to create an unstoppable Superchain, modularly, following standards provided by Optimism. Base also shares that it is collaborating with Optimism as a Core Developer on the OP Stack and continuously working to create a strong Layer 2 community for other developers.

4. StarkNet

Overview

StarkNet is an L2 solution that utilizes Zk Rollup technology, built and developed on Ethereum. StarkNet enables dApps to operate, function, and scale limitlessly without compromising Ethereum’s composability while also benefiting from additional security.StarkNet’s smart contracts and operating system are written in the Cairo programming language, which supports the deployment and scalability of any use case and is not limited by any business logic.

Potentials for airdrop

TVL: $142M
Wallet Addresses: 445K
Total Transactions: 56,958,325 numbers after 1 year of mainnet
X Followers: 200K
Raise fund: StarkNet is built by StarkWare, the company successfully raised $282.5M through 7 funding rounds, with a valuation of $8 from 33 investors.
- On January 31, 2018: StarkWare successfully raised $6M in the Seed Round from 11 investors.
- On July 16, 2018: StarkWare successfully raised $12M in the Venture Round from Ethereum Foundation.
- On October 28, 2018: StarkWare successfully raised $30M in the Series A round from 18 investors, led by Paradigm and Sequoia Capital.
- On March 24, 2021: StarkWare successfully raised $75M in the Series B round from 8 investors, still led by Paradigm.
- On November 16, 2021: StarkWare successfully raised $50M in the Series C round from 4 investors, led by Sequoia Capital.
- On May 25, 2022: StarkWare successfully raised $100M in the Series D round from 4 investors, led by Alameda Research, Coatue, and Greenoaks.
- On July 1, 2022: StarkNet successfully raised $9M in the Funding Round from Alameda Research.
Partners: Currently, the project has collaborated with many famous names such as Infura, Consensys Ledger, Alchemy,…

Highlights

The difference of StarkNet lies in the technology it uses, which is zkRollup, with the main component being ZK Proof. This has brought about important features for the StarkNet network such as:

Low transaction costs: The transaction costs of StarkNet are significantly lower than Ethereum. With upcoming upgrades and implementations like Volition and the deployment of EIP 4844, these transaction fees are expected to decrease even further.
Developer-friendly platform: StarkNet provides an environment that allows developers to build decentralized applications using STARK and the Cairo programming language.
High throughput and low latency: The upcoming releases of StarkNet aim to increase network throughput, reduce transaction latency, and lower transaction costs.

5. Scroll

Overview

Scroll is a layer 2 blockchain built on zkEVM Equivalence technology, a new emerging ZK-Rollup technology that is fully compatible with EVM.

Potentials for airdrop

Because Scroll is still in the testnet phase (preparing for mainnet), there is no onchain index yet.

X Followers: 606K
Raise fund: Scroll has raised a total of $80 million in funding. The most recent funding round took place on March 6, 2023, with a value of $50 million and the participation of investment funds Polychain Capital, Sequoia China, and Bain Capital Crypto. Prior to that, on April 21, 2022, Scroll successfully raised Series A funding with an amount of $30 million, led by Polychain Capital and with the participation of Robot Venture, Bixin Venture, and Bain Capital Crypto.
Scroll also has angel investors such as Ying Tong and Carlos Aria from the Ethereum Foundation. In addition, it has the support of veteran members from the Ethereum community such as Anthony Sassal, Ryan Adams, and Santiago Santos.
Partners: Currently, the project has collaborated with many famous names such as Uniswap governance, Len protocol, Multichain, Hop protocol,…

Highlights

EVM-Equivalence functions exactly like virtual machines compatible with Ethereum (Ethereum Virtual Machine – EVM), allowing users and developers to seamlessly move DApps between different layers without the need for extensive code modifications or additions. This shortens the time needed to reprogram existing features and provides more resources to develop groundbreaking new functionalities.

Projects on Ethereum and other EVM Blockchains can easily be scaled, built, operated, and developed on Scroll. As a result, Sodility developers can also easily deploy new projects on Scroll without the need to learn the native programming languages of Zk Rollup Chains.

With Scroll, transaction speed will be extremely fast with low costs while still ensuring security from Ethereum’s side.

Conclusion: Upcoming Layer 2 Tokens

While the world of Layer 2 tokens and airdrops is exciting, it’s essential to approach it with caution. Scams and fraudulent schemes are unfortunately prevalent, so always verify the legitimacy of projects before participating. Exercise due diligence, and never share sensitive information or send funds to unknown sources.

In conclusion, while there are no guarantees in the crypto world, active engagement and participation in the community can significantly enhance your chances of being part of upcoming Layer 2 tokens in 2023.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Knowledge

Top 5 Upcoming Layer 2 Tokens In 2024

In the early days of the cryptocurrency ecosystem, airdrop programs served as an effective means to introduce new or existing projects to the crypto community. Let’s take a look at the top 5 Upcoming Layer 2 Tokens in 2023 with Coincu.

Potential of Upcoming Layer 2 tokens

How to participate early?