Here are the top 20 best performing initial DEX offerings (IDOs) of 2021, with the highest token returning an astonishing 550X. Find out which categories these tokens span.
2021 has been a year of meteoric growth for most major cryptocurrencies, with almost every major asset now heavily in the green when measured YTD.
But without a doubt, the vast majority of this year’s best-performing cryptocurrencies launched following an initial DEX offering
(IDO) — a type of fundraising format typically employed by decentralized exchanges
(DEXs) and launchpads
Widely billed as a more democratic way to raise capital, IDOs are one of the more common ways users gain exposure to new projects at an early stage. And while IDOs aren’t always profitable, some go on to put on an impressive performance after listing.
Here, we take a quick look at some of this year’s best performers to tease out the narratives behind their success.
Overall, a huge number of IDOs achieved well over 100x growth since launch, while the absolute strongest projects achieved in excess of 200x. Broadly, most of these top-performing projects can be broken down into five categories:
The prospect of a fully immersive, permissionless, pervasive Metaverse powered by blockchain-based technologies is an attractive prospect.
Investors seem to agree too, given that this year’s best-performing asset is none other than Bloktopia
— a VR metaverse platform centered around a high-tech virtual tower with 21 levels. The platform achieved a whopping 558x ROI over its IDO price.
$100 invested in the IDO is now worth more than $55,000.
Given that Metaverse-based projects have only just begun to emerge and pick up momentum, the list could look very different in a few months.
Want to learn more about the Metaverse? Check out our full overview
of the subject!
Launchpads are a relatively new offering in the blockchain space, but they’ve quickly become one of the most popular pieces of CeDeFi or pure DeFi infrastructure since they allow users to gain exposure to vetted early-stage projects.
In total, 7 of the top 20 best performing IDOs this year were for launchpads, many of which form part of the BlueZilla
ecosystem. The absolute best performing launchpad this year is StarLaunch
, an insured launchpad for Solana-based projects, which is trading at north of 270x IDO price.
The PulseChain-specific launchpad PulsePad
comes in second place with a 254x return, whereas blockchain-gaming-centric launchpad GameFi
comes in third place with an impressive 240x return.
Other launchpads included on the top 20 list include GameZone
(for gaming tokens and NFT projects), NFTLaunch
(for NFT projects), VelasPad
(for Velas ecosystem projects), and ADAPad
(for Cardano ecosystem projects).
Notably, these launchpads also provide access to other IDOs, many of which have also performed well, making for a double whammy. Click here
to check out the best launchpads on every major blockchain!
The blockchain gaming space has picked up considerable momentum in recent months, thanks to a new wave of innovation and the rampant growth of the play-to-earn
Led by the rampant success of blockchain-powered gaming titans like Axie Infinity
and The Sandbox
, 8 out of the top 20 IDOs by ROI fall under the blockchain gaming umbrella.
At the top of this list is Velhalla
, the first play-to-earn blockchain game on the Velas platform, which achieved a massive 189.6x return for IDO participants. Next up is Thetan Arena
, a free to play battle royale game that racked up a 186x multiplier after its launch.
A wide range of other popular play to earn titles also made the cut, including Cryowar
, My Neighbor Alice
, Wilder World
, Star Atlas
— each of which notched up a multiplier of well over 100x.
Looking to keep track of the latest P2E gems? Check out our dedicated play-to-earn
Perhaps surprisingly to some, just one NFT-centric project made the cut.
Despite the rampant demand for NFT collections, projects that primarily focus on NFTs rarely count among the absolute best-performing projects.
, which originally launched on DAO Maker, appears to have blazed its own trail. The platform is looking to pioneer a new form of Music NFT, giving creators a new way to monetize their works.
Want to brush up on your NFTs? Check out our A-to-Z of NFTs
was all the rage earlier in the year, many DeFi projects are now beginning to cool off. Nonetheless, some of this year’s top-performing IDOs fall under the DeFi category.
, a CeDeFi exchange and aggregator currently holds the crown of the best performing DeFi IDO this year, after achieving an impressive 127x multiplier from its IDO price.
, on the other hand, is one of the few DeFi meme hybrid coins to conduct an IDO, and is currently trading at 100x. While 20th place is secured by WagyuSwap
, the first decentralized exchange (DEX) on Velas, which achieved a not-too-shabby 85x multiplier.
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