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Author: Robert D. Knight, Cointelegraph; Compilation: Tao Zhu, Bit Chain Vision
Among the 10 largest projects launched in the era of the first token distribution (ICO), three have stopped activities or deaths, and most of the remaining projects are trying to find correlations.
A survey of the big winner during the ICO enthusiasm shows that raising millions of dollars does not solve all problems. Sometimes, it will make things worse.
EOS
During the peak of the 2017 ICO era, Brendan Blume and Dan Larimer proposed a new ultra -fast blockchain EOS that will provide vertical and horizontal expansion of decentralized applications.
Block.one, a company managing EOS, completed the one -year ICO in 2018 and raised an amazing $ 4.2 billion.So far, it is still the largest token sales ever.
Block.one and EOS did not sweep the encryption world as expected.Instead, the company is plagued by projects that have nothing to do with its core mission.A centralized exchange named Bullish was established, and $ 180 million was invested in a social media platform called Voice.
Perhaps Block.one’s billions of dollars have lost their concentration.In 2021, the EOS community founded the EOS Network Foundation to help support the project independent of the development of Block.one.
In May 2024, the EOS Network Foundation announced a new token model that canceled inflation tokens and introduced a fixed supply model with a maximum supply of 2.1 billion tokens.
The market value of EOS was US $ 770 million. As of August 23, the transaction price was 0.52 US dollars, which was 97.7%from the peak value of US $ 22.71 in April 2018.
Status: active.
Telegram open network
Pavilu Durov and Nichola Durov brothers have a magnificent plan for the Telegram Open Network (TON).If the plan is realized, the network and its native Toncoin will be supported with message transmission, file sharing and network anonymous layers.
Although the US Securities and Exchange Commission believes that after paying the fine, other blockchain projects can continue to run, it is not so tolerant for TON.
After raising $ 1.7 billion, SEC banned TON from issuing its tokens and ordered Telegram to repay investors.In addition, SEC issued a fine of $ 18.5 million.
The Durov brothers are not so easy to discourage.They continue to participate in the “Open Network”, which has many of the same functions and characteristics proposed by the original open network for the Telegram.The open network is initiated by an independent developer community, and the community forms the TON Foundation.
Later, developers who did not work under Telegram were independent of Telegram to launch a Toncoin currency.
Status: Rebirth and active.
TEZOS
Initially, Tezos seemed destined to achieve a big career.Under the leadership of the American couple team Arthur and Kathleen Breitman, Tezos provided a new and fascinating story, attracting the imagination of cryptocurrency investors.
This idea?Create a “self -correction” cryptocurrency that allows stakeholders to affect the future direction of the TezOS blockchain.Theoretically, this will allow Tezos to do anything and become anything that users want.It will also eliminate the shadow of hard forks, because whenever there are differences, democratic voting will solve the problem.
In July 2017, TezOS raised $ 232 million in Bitcoin and Ethereum through the tokens, breaking the crowdfunding record.All parties have high hopes, but the problem has just begun.
Shortly after financing, Johann Gevers, chairman of BreitMans and Tezos Foundation, turned over.
Due to the dispute between the C -level executives, the progress of the “democracy” blockchain fell into stagnation.Gevers was persuaded to resign from the Tezos Foundation in February 2018, but at that time, he had lost key momentum and community goodwill.
To make Tezos snow, the US Securities and Exchange Commission quickly accused the unregistered securities sales.Subsequently, a collective lawsuit followed.
With the court cases, dramatic events, public fighting and hopeless delays, Tezos disappeared from public consciousness.But the project continues.
Today, the market value of Tezos is US $ 698 million.Its token price is US $ 0.70, down 92%compared with the historical high in October 2021.
Tezos price chart over the years.Data source: coinmarketcap
In June 2024, the company released the updated roadmap “Tezos X” and promised to achieve faster blocks and expansion through “intelligent summary”.
Status: active.
Filecoin
Filecoin is a decentralized storage project that raised $ 233 million in 2017.The hype has already passed, but the project is still continuing to operate and provides file custody services according to advertising.
Filecoin, etc., has been one of the popular narrative trends in 2024.In March, Filecoin’s price rose to $ 11.46, but failed to maintain this high.
The current market value of FIL is 2.2 billion US dollars, and the price of tokens is 3.90 US dollars, down 98.4%from the peak value of US $ 236.84 in April 2021.
Status: active.
Dragon coin
In 2018, Dragon Inc. launched an ICO for Dragon Coin (DRG), which is a gambling token and payment system for the Asian online casino market.Strangely, they also plan to build a “Chinese Cultural City” in Cambodia.
ICO has achieved great success and raised $ 320 million.One month later, it was revealed that the project was linked to Wan KUOK-KOI, the leader of the Macau 14K Trinity.Wan was sentenced to 13 years of imprisonment for illegal gambling, usury and criminal gangs before.
WAN KUOK-KOI (middle) and their deputy Chen Huimin (left) and Cambodian Prime Minister Guard Commander (right).Source: China -Cambodia Observation
Dragon Coin’s connection with the Thai film industry also surfaced,Actor Jiratpisit Jaravijit was arrested for finding ICO funds in the bank account for the foundation of ICO with nickname “Boom”.
Jiratpisit may think that he has embarked on the fast lane of making money, but this specific ICO project made everyone surprised.
Status: Death.
HDAC
In December 2017, the modern digital asset company of the modern digital assets under the modern subsidiary of South Korean automakers announced that it entered the blockchain field with a $ 258 million ICO.
HDAC has formulated a grand plan for corporate blockchain, the Internet of Things and automobile production lines.It will also connect the blockchain and support e -sports games.
The project seems to be operating in 2020, but it has stopped updating shortly since then and lost its trace.When other projects in ICO collapsed and failed, HDAC gradually disappeared.
Status: Missing, speculate that it has died.
Sirin Labs
December 2017 was the heyday of ICO. Switzerland-Israel Sirin Labs also completed a $ 157.9 million financing that month.
Sirin Labs plans to create a affordable blockchain mobile phone. In less than a year, they launched the latest mobile phones: Finny.
FINNEY was named after blockchain pioneer and Satoshi candidate Hal Finny, which was shipped at a price of $ 1,000 in November 2018.
Although FINNEY is not cheap, its value is higher than that of Sirin Labs before the mobile phone model Solarin, and the latter’s retail price is as high as 16,000 US dollars.
Sirin Labs may have an interesting concept and a practical product that can be pushed to the market, but in the end, Finney failed to get attention in the fiercely competitive mobile phone field.
Status: Death.
Bancor
In June 2017, BANCOR raised $ 153 million, becoming one of the largest and most successful ICOs ever in history.
The company is still operating so far. Its flagship project is Carbon, a decentralized exchange for chain transactions.
On July 8, 2019, BANCOR restricted US customers to use its platform on the grounds that regulators lack their clarification.In February 2021, the US judge rejected a lawsuit against Bancor on the grounds of lack of personal jurisdiction. This decision seemed wise.
The market value of BANCOR (BNT) was $ 63 million. As of writing this article, the transaction price was $ 0.50, a 95%decrease from the peak value of US $ 10.72 in January 2018.
Status: active.
Bankra
Bankra is a substitute for traditional bank accounts, which completed ICO financing in February 2018.The payment provider raised $ 153 million.
Bankra (BNK) was originally launched based on ERC-223 tokens, but this decision was not as smooth as expected.In February 2022, the company announced that it would launch a new Bankera tokens based on the more common ERC-20 standards.
Sometimes it is not worth becoming a pioneer.EtherScan shows that BNK’s current market value is only $ 700,000.The transaction price of BNK tokens is $ 0.07.
Status: slightly active.
Polkadot
Polkadot is a project founded by Gavin Wood, one of the founders of Ethereum, and is the last item in this list.
In October 2017, Polkadot’s ICO raised $ 145 million and promised to bring horizontally expansion to the industry through parallel chain technology.Polkadot is the basic layer of other blockchain (called parallel chain).
In May 2024, a report from MESSARI showed that Polkadot’s daily active address reached 514,000 historical highs, an increase of 48%month -on -month, an increase of 192%over the first six months.
Key points: Unlike many ICOs, Polkadot continues to flourish.
Polkadot (DOT) is an inflation tokens. The current transaction price is US $ 4.65, a decrease of 91.5%from the historical high in November 2021.98 US dollars.Its market value is $ 6.5 billion.
Status: active.
