9 Promising Unlaunched Crypto Protocols to Watch in 2025

·

The crypto landscape is evolving rapidly, with innovative protocols emerging across DeFi, derivatives, real-world assets (RWA), and cross-chain infrastructure. While many projects have already launched their tokens, several high-potential platforms are still in the pre-token phase—offering early users a chance to earn rewards, accumulate points, and position themselves for potential airdrops.

Below is a curated overview of nine unlaunched yet highly promising crypto protocols that are gaining traction in 2025. These projects span multiple ecosystems including Arbitrum, Solana, and Ethereum, and cover diverse use cases from synthetic asset trading to liquidity re-staking and decentralized finance (DeFi) aggregation.

Ostium: Bridging TradFi and Crypto with Synthetic Leverage

Perpetual futures exchanges are one of the most competitive sectors in crypto, with market leadership shifting frequently—from dYdX to GMX and now Hyperliquid.

Enter Ostium, a unique player that brings leveraged exposure to traditional financial assets like the S&P 500, Dow Jones, Nikkei, gold, copper, and more—all on-chain via synthetic price feeds from oracles. Built on Arbitrum, Ostium enables crypto-native traders to gain diversified market exposure without leaving the blockchain ecosystem.

Although these assets aren't backed by real-world holdings, the platform offers realistic trading conditions through reliable price data.

Ostium has already achieved strong early metrics:

Since March 31, Ostium has been running a points campaign for traders and OLP depositors. This presents a compelling opportunity for early adopters who believe in the long-term potential of on-chain RWA trading.

👉 Discover how synthetic asset trading is reshaping DeFi

Axiom: The Rising Star in Solana Trading

While platforms like Photon, BullX, and BonkBot dominated Solana trading in 2024, Axiom—a Y Combinator-backed project—has quietly taken the lead since launching in February 2025.

With 44% market share in its category (the largest among peers), Axiom stands out not for flashy marketing but for organic growth. The team maintains minimal presence on X (formerly Twitter), relying instead on word-of-mouth and product excellence.

But Axiom’s ambitions go beyond spot trading:

Axiom has launched a comprehensive points program that rewards trading activity, task completion, and referrals. Given its rapid adoption and solid backing, an Axiom token launch could be one of the most anticipated events of the year.

Fragmetric: Solana’s Next-Gen Liquidity Re-Staking Protocol

If you missed out on early Solana DeFi airdrops like Jito or Jupiter, Fragmetric might be your second chance.

As a liquidity re-staking protocol built on Solana, Fragmetric allows users to deposit SOL or liquid staking tokens (LSTs) such as jSOL or mSOL and receive fragSOL or fragJTO—its native liquid re-staked tokens (LRTs).

By participating, users become part of SANG (SolanA Network Guardians), a decentralized community responsible for securing new decentralized services (AVS/NCN). In return, they earn additional yield beyond standard staking rewards.

Even though deposits opened in late 2024, most capital entered only in January 2025—meaning it's still relatively early.

Key highlights:

The F Points loyalty system rewards holders just for keeping LRTs. Additional points can be earned by wrapping them (e.g., wfragSOL) and using them across DeFi.

This makes Fragmetric one of the easiest ways to generate yield on idle SOL while diversifying risk across platforms like Kamino and Marginfi.

Loopscale: Order Book-Based Lending Innovation on Solana

Building on Fragmetric’s foundation, Loopscale introduces modular, order book-driven lending to Solana—a radical departure from traditional pool-based models used by Aave or Kamino.

According to its documentation:

“By replacing liquidity pools and algorithmic rates with direct order book matching, Loopscale improves capital efficiency, enables precise risk management, and unlocks new market types previously impossible in DeFi.”

Users can:

Since ending its closed beta five days ago, Loopscale launched Genesis Vaults, offering up to 6x points multiplier—though capacity is nearly full.

One popular strategy: JUPSOL looping, delivering over 22% APY with 2x points. For more aggressive users, another vault offers 32% APY using PT-fragSOL from Exponent (Solana’s Pendle).

Note: Using PT-fragSOL forfeits bonus F Points but provides higher fixed returns.

With $40 million TVL and support from CoinFund, Solana Ventures, Coinbase Ventures, Jump Crypto, and Room40, Loopscale is well-positioned for growth.

Upshift: Institutional-Grade Yield Management

Is DeFi becoming too complex? Are you spending too much time optimizing risk-adjusted returns?

Upshift offers a solution: deposit your crypto into vaults managed by vetted hedge funds and investment managers.

Their four core offerings:

  1. Lending: Provide over-collateralized loans to institutions.
  2. DeFi Yield: Curated vaults run by top-tier DeFi funds.
  3. Vault-as-a-Service: Plug-and-play vault infrastructure for other protocols.
  4. Synergy: Boost yields through strategic borrowing within vaults.

Currently managing **$236 million TVL**, Upshift offers a **5x points multiplier** until deposits reach $750 million.

One standout strategy is the Hyperbeat Ultra HYPE, which optimizes yield farming for HYPE tokens across the HyperEVM ecosystem.

Backed by Dragonfly VC, Hack VC, 6MV, and Robot Ventures, Upshift bridges retail access with institutional-grade strategies.

Level: High-Yield Stablecoin Aggregation

For stablecoin holders seeking yield, Level offers an elegant solution.

It issues lvlUSD, a yield-bearing stablecoin backed by USDC and USDT deposited into blue-chip protocols like Aave and Morpho.

You deposit USDC → it gets deployed → you receive lvlUSD usable across DeFi.

Options:

With $138 million TVL and growing social traction despite broader market dips, Level shows strong product-market fit.

Although not the first in this space, its combination of competitive yields and active point incentives makes it a compelling contender—especially ahead of a possible token launch.

Backed by Dragonfly VC and Polychain Capital.

Huma: Revolutionizing Cross-Border Payments with PayFi

Real-world assets (RWA) and stablecoins are hot narratives—but actual exposure remains limited. Instead of waiting for Circle’s IPO, consider Huma, a PayFi (Payment Finance) network recently raising $38 million from Hashkey Capital, Folius Ventures, and Stellar.

After merging with Arf—a Circle-supported protocol for cross-border payment settlement—Huma aims to disrupt slow, expensive international transfers using USDC and blockchain rails.

Benefits:

Yield options:

New feature: Deposit USDC → receive PST (PayFi Strategy Token)—a yield-bearing token usable on Solana DeFi (trade on Jupiter, collateralize on Kamino).

Even locked positions can exit early via PST liquidity pools.

Current stats:

DeFi App: The All-in-One DeFi Super App

Despite aggressive marketing on X that raises eyebrows, DeFi App has solid fundamentals:

Its token HOME is unlaunched. Users earn points via swaps and participation in Degen Arena, a gamified community system.

Joining a Faction boosts rewards:

I’m currently ranked #38—proof of engagement depth.

👉 See how the next-gen DeFi super app is changing crypto trading

Slingshot: Mobile-First Cross-Chain Trading

Looking for a mobile app that lets you swap any token across any chain? Try Slingshot.

Key features:

Despite acquisition concerns, Slingshot remains a top choice for mobile traders due to seamless UX and broad chain coverage.

👉 Start trading across chains with one powerful mobile app

Frequently Asked Questions (FAQ)

Q: Are these protocols safe to use?
A: While none have had major security incidents yet, always do your own research. Use hardware wallets, avoid sharing keys, and start with small deposits.

Q: How do I maximize points for potential airdrops?
A: Consistently interact with the platform—trade, deposit, refer friends if available. For some (like DeFi App), joining communities boosts rewards.

Q: Can I lose money using these protocols?
A: Yes. Impermanent loss, smart contract risk, liquidation (in leveraged positions), and market volatility can all lead to losses. Never invest more than you can afford to lose.

Q: When will these projects launch tokens?
A: No official dates announced. Tokens may launch months after points programs begin. Monitor official channels for updates.

Q: Is using LRTs like fragSOL risky?
A: Risks include depeg events or slashing on Solana. However, protocols often implement safeguards. Diversification helps mitigate exposure.

Q: Why are RWAs gaining traction in crypto?
A: Real-world assets bring tangible value streams (e.g., bonds, payments) onto blockchains—enabling yield generation backed by real economic activity rather than speculation alone.

Keywords: unlaunched crypto protocols, DeFi yield farming, liquidity re-staking protocol, synthetic asset trading, RWA crypto projects, Solana DeFi 2025, stablecoin yield platforms