Original author: Zhou, ChainCatcher

Since the beginning of this year, the number of TGEs (Token Generation Events) in the crypto market has been on an upward trend. Data shows that in the first three quarters, total financing exceeded $1 billion, with the highest FDV (fully diluted valuation) of a single project reaching $315 million.

Currently, several highly anticipated projects have confirmed that they will conduct TGE in mid-to-late October, heralding the arrival of the Q4 TGE boom. These projects are introduced in detail below.

Monad ($MON) | High-performance layer 1 blockchain

Monad is an Ethereum Virtual Machine (EVM)-compatible Layer 1 blockchain. According to its official introduction, Monad defines itself as a high-performance, EVM-compatible Layer 1 blockchain using a Proof-of-Stake mechanism, aiming to pioneer a new paradigm for public blockchains by streamlining the execution of Ethereum transactions. The project has raised approximately $244 million in funding from investors including Paradigm, Dragonfly, Coinbase Ventures, and Animoca Brands, resulting in a post-money valuation of approximately $3 billion.

Officially, claims for the airdrop will open on October 14th. Hyperliquid launched the MON-USD hyperps (pre-market perpetual contract) on October 8th, allowing users to long or short $MON with up to 3x leverage. The conditions for claiming the airdrop have not yet been disclosed, but the community speculates that Monad's airdrop will be on a first-come, first-served basis, requiring users to complete challenging tasks before claiming the tokens.

Enso (ENSO) | Cross-chain liquidity protocol

Enso will be launched on Binance's alpha platform on October 14th. Eligible users can claim the airdrop using Alpha Points on the Alpha event page. Enso is a cross-chain liquidity protocol focused on automated trading and asset management, allowing users to optimize DeFi strategies through smart contracts. The project has raised approximately $9 million in funding from institutions including Polychain, Spartan Group, and Mapital Capital.

Yei Finance (CLO) | Money Market on the Sei Network

Yei Finance will be listed on the Binance Alpha platform on October 14th, and will launch CLOUSDT perpetual contracts (50x leverage) at 7:30 PM (Beijing Time) on the same day. Eligible users can also claim a CLO token airdrop using Binance Alpha Points. Yei Finance is a decentralized, non-custodial money market protocol on the Sei Network, currently boasting a total market size exceeding $389 million and total lending exceeding $170 million. The project completed a $2 million seed round led by Manifold Trading at the end of 2024.

Fleek ($FLK) | Easily build open websites and apps

According to the official introduction, Fleek is a social application in which users can create AI-generated or AI-enhanced content and earn income through rewards, token transactions, brand activities, and advanced features.

Official information indicates that the maximum supply of its FLK token is 100 million, with an initial circulation of 28% and 10% allocated for proxy rewards and airdrops. The Fleek project held a token sale on CoinList from May 1-8, 2025, with the FLK token priced at $0.75 and a fully diluted valuation (FDV) of $75 million. Therefore, the airdrop on October 14th will distribute 10 million FLK tokens to the community, valued at approximately $7.5 million.

LAB ($LAB) | Multi-chain trading terminal

LAB is a multi-chain trading terminal offering unique trading algorithms, multi-chain support, and customizable trading features. The project has raised approximately $5 million in funding, with core investors including Animoca Brands, Amber Group, GSR, and OKX Ventures. The airdrop will take place on October 14th. Official details and the percentage of the airdrop have not been released, with community events on Discord and Galxe hinting at rewards for active traders and early adopters. The potential airdrop could represent 1-2% of the total supply.

Novastro ($XNL) | AI-Powered RWA Layer 2

Novastro is an AI-powered RWA layer 2 chain. The project has raised approximately $1.2 million in funding from investors including Woodstock and Double Peak.

The airdrop will be confirmed through Galxe activities and testnet tasks, and users will complete bridges and interactions to increase eligibility. The total supply and distribution ratio are not disclosed. The TGE date is October 15, 2025, and claims will be launched at the TGE. Airdrop guide: https://cryptorank.io/drophunting/novastro-chain-activity 311

Intuition ($TRUST) | Decentralized identity infrastructure

Intuition is a decentralized knowledge graph protocol and universal oracle. Its founder, William Luedtke, is from ConsenSys. The project has raised $6.35 million in funding led by Superscrypt, Joseph Lubin, and Andrew Keys.

The TGE is scheduled for October 15, 2025, with a total supply of 1 billion $TRUST tokens, an initial circulating supply of 163.5 million, and an estimated FDV of $150 million. The airdrop will account for 20% of the total supply, valued at $24.53 million. 50% of the tokens will be unlocked on the TGE, with the remaining tokens vesting linearly over 12 months. The community predicts a possible listing on Binance Alpha.

Recall ($RECALL)

Recall is a decentralized intelligence platform that enables autonomous AI agents to store, share, and exchange knowledge on-chain. It incentivizes open agent development through cryptoeconomic rewards and transparent competitions. The project has raised $42.5 million in funding, including from Multicoin Capital and Coinbase Ventures.

Recall will make its native token, RECALL, available to the public on major exchanges starting October 15th, with an airdrop opportunity for selected early supporters. The initial issuance will be 1 billion, of which 200 million (20% of the total supply) will be unlocked upon issuance. The largest share (30%) will be allocated to the community and ecosystem. 27% of the total supply will be unlocked 12 months after issuance, with the remainder unlocked 48 months later.

Bluwhale ($BLUAI) | The Intelligent Layer for Web 3

Bluwhale is an AI-powered decentralized personalization protocol. Bluwhale has raised $100 million in funding, including seed and Series A funding and $75 million in token purchase commitments, grants, and node sales proceeds. Investors include SBI Investment, gumi Cryptos Capital, and NxGen, with additional funding from Arbitrum and Movement Labs.

Officials said that the total supply of BLUAI tokens is 10 billion, of which 6% will be used for airdrop rewards to the community, encourage participation and network expansion, and TGE will be carried out on October 21.

Meteora ($MET) | Decentralized Exchange

Meteora is a dynamic liquidity pool protocol based on Solana. It supports automated market makers and token trading through a centralized liquidity management mechanism (DLMM). The project's co-founders, Ben Chow and Meow, are also co-founders of Jupiter. The project has received undisclosed funding from Alliance and Delphi Digital. Meteora has reportedly achieved a TVL exceeding $780 million and generated $1.51 billion in revenue.

It is officially confirmed that TGE will be held on October 23, with a total token amount of 1 billion. TGE will unlock and distribute 48% of the tokens, of which 3% of the TGE reserves will be distributed to Jupiter pledgers in the form of liquidity position NFT.

Planck Network ($PLANCK) | Decentralized AI computing network

Planck Network is a modular Layer 0 protocol. Public information shows that Planck Network received a $200 million token investment commitment from Rollman Management Digital in April of this year; in June, it received a strategic investment from Web 3 pioneers Brock Pierce and Scott Walker through their venture capital firm, DNA Fund.

Officially, TGE is scheduled to be held on October 25, 2025. The total supply is not disclosed, and the token $PLANCK is used for staking, governance, and rewards.

Limitless ($LMTS) | Social Prediction Protocol

Limitless is a decentralized prediction market platform built on the Base Chain, which has achieved over $460 million in trading volume. The project has raised $8 million in funding and is backed by Coinbase Ventures, 1 Confirmation, and Maelstrom.

Officials announced that the TGE will take place in October, with a total supply of 1.5 billion $LMTS. 50% will be initially circulated, with the remaining 50% unlocked after six months. The FDV is expected to be between $75 million and $100 million. An airdrop of 10-20% of the total supply is expected, with points earned by using the product, providing liquidity, and referring friends.

Notably, Limitless concluded its community sale on the Kaito Capital Launchpad on October 5, 2025, attracting $200.96 million in subscriptions against the original $1 million allocation target, exceeding the original target by approximately 200 times. The sale sold 20 million $LMTS (1.33% of the total supply at $0.05 per token), with a set FDV of $75 million, prioritized for distribution to Kaito community members.

Conclusion

The surge in the value of coins such as ASTER and XPL upon their launch in September has ignited market expectations for Q4 TGE projects. Institutions such as CryptoRank and PitchBook predict that this quarter will continue the bull market, led by projects such as Monad, Meteora, Limitless, Zama, and MegaETH.

To a certain extent, TGEs can stimulate community participation and tokenization innovation, particularly breakthroughs in RWA securitization and cross-chain protocols. However, the surge in valuations following TGEs and the accompanying token unlocking have prompted some institutions to warn that this could lead to significant selling pressure on retail investors, urging caution against the "VC coin dilemma" and market volatility risks.