15 projects performed the "renaming market", and the average token price increased by more than 2.4 times.

Author: Nancy, PANews

This article takes stock of brand upgrade projects in the past year and finds that these projects are motivated by competitive differentiation, market hot spots and Factors such as transformation and upgrading have led to varying degrees of innovation in brand image, market positioning and strategic planning. After the rebranding, the currency price also showed a strong trend, with an average maximum increase of nearly 243.5%.

Rebranding is often an important way to regenerate brand vitality and enhance brand competitiveness. Currently, many projects are underway in the Web3 field The brand has been refreshed and upgraded, and the "name change market" that often occurs is generally regarded as a positive theme by the market.

PANews took stock of the brand upgrade projects in the past year and found that these projects were in terms of brand image, Various degrees of innovation have been made in market positioning and strategic planning, and the currency price has also shown a strong trend after the rebranding, with an average maximum increase of nearly 243.5%.

OP Mainnet (OP)

Layer2 star project Optimism was renamed OP Mainnet in June last year to reflect its goal of creating a "super chain" composed of multiple L2 networks. OP Mainnet will serve as the base layer of the "super chain". CoinGecko data shows that as of March 15, the currency OP has experienced a maximum increase of 239.1% after the brand upgrade, and the current circulating market value exceeds US$3.92 billion.

Mantle (MNT)

In May last year, BitDAO The proposal to merge with the Layer 2 network Mantle Network and convert BIT tokens into tokens MNT on a 1:1 basis was approved. Binance data shows that as of March 15, MNT’s highest increase since the launch of the mainnet Alpha version was approximately 126.4%, and the current circulating market value is US$2.95 billion.

Beam (BEAMX)

Merit Circle is a chain The Gaming Association announced in October last year that it would upgrade its brand to Beam and replace its original token MC with BEAMX. Binance data shows that as of March 15, its token BEAMX has experienced a maximum increase of nearly 814.9% since the token swap upgrade, and the current circulating market value is US$1.98 billion.

Avara (AAVE)

In November 2023, the blockchain technology company Aave Companies announced that it would change its name to Avara, becoming the parent company of the lending protocol Aave, the Web3 social project Lens (tokens have not yet been issued), the stable currency GHO, the metaverse mobile application Sonar and other brands. company. Among them, Aave was originally named ETHLend and was renamed as early as September 2018. CoinGecko data shows that as of March 15, the price of Aave token AAVE has increased by more than 56.7%, and the current circulating market value exceeds US$1.91 billion.

Ribbon Finance (RBN)

July 2023 , the on-chain structured product Ribbon Finance’s proposal to merge into its options trading platform Aevo and set Aevo as a new brand name was approved. At the same time, it also abolished the original token RBN and launched a new token AEVO, which can be used in a 1:1 ratio Make the conversion. Aevo has raised US$16.6 million in 3 rounds of financing and recently launched an airdrop plan. Amber Group and Wintermute are alleged to be the market makers of AEVO tokens.

CoinGecko data shows that as of March 15, the highest increase in the currency RBN after the merger proposal exceeded 780%, and the current circulating market value is US$1.36 billion.

Vanar (VANRY)

In November last year, the Metaverse project Virtua announced the brand upgrade of the Layer 1 blockchain Vanar Chain in November last year. The token TVK can be exchanged for VANRY at a 1:1 ratio. Vanar Chain has received US$2.5 million in financing from NGC Ventures, LD Capital, YBB Foundation and Hashed in 2020, and recently reached a cooperation with AI giant Nvidia.

CoinGecko data shows that as of March 15, the price of VANRY, which has been online since the news of the name change, has increased by as much as 445.1%, and the current market value in circulation exceeds US$400 million; at the same time , TVK also rose by as much as 639.1% due to the news, and the current circulating market value is US$54.321 million.

Ninety Eight (C98)

Vietnamese encryption company Coin98 Finance announced its name change to Ninety Eight in November last year. The token C98 will continue to be the core token of the Ninety Eight ecosystem and will provide more utility and value. CoinGecko data shows that as of March 15, C98 has experienced a maximum increase of more than 144.4% after the brand upgrade, and its current circulating market value exceeds US$280 million.

Bounce Brand (AUCTION)

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Bounce Finance is a decentralized auction platform that has received institutional investment from Coinbase, Pantera, Hashed and Fundamental Labs. In December 2023, Bounce Finance announced the brand upgrade to Bounce Brand. Its products include Bounce Bit, a Bitcoin-based application chain, Bounce Box to explore BTC DeFi, and Bounce Auction, a BTC-related auction platform.

CoinGecko data shows that as of March 15, its token AUCTION has experienced a maximum increase of 150.3% since the brand upgrade, and its current circulating market value is US$158 million.

AllianceBlock (NXRA)

In February this year, go AllianceBlock, a centralized tokenized financial infrastructure platform, not only announced that it will launch the compliant tokenization protocol Nexera Finance, but also revealed that the project will be renamed Nexera Foundation, dedicated to developing ecosystem DAOs and enhancing the utility of native NXRA tokens. AllianceBlock received a US$100 million investment from the Binance Acceleration Fund, and in early 2023, it lost US$88 million with BonqDAO in an attack.

CoinGecko data shows that as of March 15, NXRA has experienced a maximum increase of more than 49.2% since the name change, and the current circulating market value is US$130 million.

Viction (VC)

Scalable blockchain TomoChain announced last year that it was renamed Viction and its token TOMO was changed to VIC, aiming to have a profound impact on humanity and the Web3 community through blockchain technology. Viction has received investment from Coin98 Labs and a seven-figure lock-up token investment from DWF Labs.

CoinGecko data shows that as of March 15, VC has shown a continuous downward trend after the brand upgrade, with a peak exceeding 62.9%, and the current circulating market value exceeds 96.814 million US dollars.

Lumia (ORN)

DeFi project Orion Protocol has More than $3 million was lost due to the attack, and the stolen funds were later returned. In March this year, Orion Protocol announced that it would rebrand as DeFi infrastructure Lumia and received strategic investment from DWF Labs. The market maker agreed to lock the ORN tokens it purchased for 12 months. CoinGecko data shows that as of March 15, the token ORN has increased by nearly 41.4% after the brand upgrade plan was announced, and its current circulating market value is US$80.152 million.

dForce (DF)

DeFi protocol dForce in 2023 In November of this year, it was announced that the governance proposal to rename dForce Lending to Unitus had been passed. The project had lost $3.65 million due to an attack but was returned by the attacker. CoinGecko data shows that as of March 15, the price of the currency DF has increased by more than 72.2% since the name change, and the current circulating market value exceeds US$43.957 million.

StaFi (FIS)

At the beginning of the month, liquidity The staking protocol StaFi has released an upgrade and rebranding plan, StaFi 2.0, which will be rebranded in stages, including changing from the multi-chain LSD protocol to the LSD Infra Layer, renaming the native token FIS, and introducing a destruction mechanism. CoinGecko data shows that as of March 15, the token FIS has increased by nearly 82.4% in the past half month since the news of the rebranding plan was announced, and the current circulating market value is US$41.695 million.

Wagmi (WAGMI)

The encryption project Wagmi is the rebranding of Popsicle Finance, a cross-chain revenue platform launched by Daniele Setagalli, founder of Abracadabra, the issuer of algorithmic stablecoin MIM, in September last year. The project once suffered a loss of US$25 million after a hacker attack. The original proxy Coin ICE can be exchanged for WAGMI tokens. In January this year, Wagmi announced a cooperation with DWF Labs, which had purchased tens of millions of WAGMI tokens.

CoinGecko data shows that as of March 15, the price of WAGMI has increased by as much as 114.2% since the launch of the project, and the current circulating market value is US$25.771 million.

Port3 Network (PORT3)

Web3 social data website Port3 Network announced at the end of February this year that it had completed a brand upgrade and upgraded to a decentralized AI data network, which will standardize data by integrating on-chain and off-chain data sets. and distributed computing processing to establish a globally accessible AI data layer. Following a US$3 million seed round of financing, Port3 Network announced in August 2023 that it had completed a new round of financing of several million US dollars, as well as received grants from companies such as Binance Labs, and announced again a few months later that it had received investment from DWF Labs.

CoinGecko data shows that as of March 15, the token PORT3 has increased by nearly 203.4% after the brand upgrade.