Latest Updates in the Crypto Airdrop Arena This Year 🚀
This article provides a comprehensive overview of the recent developments in the world of crypto airdrops. Various projects are introducing new tokens and rewarding their communities, which has led to a flurry of activity in the sector.
Magic Eden: Successful Crypto ME Airdrop 🎉
On December 10, 2023, Magic Eden, a popular cross-chain NFT marketplace, initiated the airdrop of its native cryptocurrency, ME. This event garnered significant attention, particularly due to its impressive market valuation.
After being distributed to over 100,000 participants, the token achieved an astounding $15 billion in Fully Diluted Valuation (FDV) right after its market debut.
In total, 125 million ME tokens were airdropped, representing 12.5% of the entire supply. Nearly 69 million ME tokens were claimed within the first hour, showcasing a strong demand amongst users.
However, unlike other recent notable airdrops, such as that of Hyperliquid, the price movements following the Token Generation Event (TGE) were quite disappointing. The value of the ME token plummeted by 54% just one day after its launch, dropping from a high of $17 to around $5.
Despite the downturn in value, the airdrop was a significant achievement for Magic Eden, attracting vast participation and recording a trading volume of $300 million.
Currently, the FDV stands at $4.2 billion, with a market capitalization around $550 million.
Many users within the crypto community expressed frustrations regarding the claiming process. Magic Eden required participants to claim their tokens using the platform’s internal wallet, leading to reported hacking incidents as others tried to migrate wallets from platforms like MetaMask.
Anzen Finance: Introduction of ANZ Token 🌟
On December 9, Anzen Finance launched its governance token, ANZ, following a highly successful public sale on Fjord Foundry just a few days prior. They raised an impressive $3 million in only 7 minutes during the sale.
The RWA application made its entrance into the market with this governance token on the Base blockchain. A total of 336 million ANZ tokens were distributed among 12,000 wallets, which amounts to an average of 28,000 tokens allocated per user.
- The initial 500 wallets received their tokens in a scaled manner, with half of their allocations locked for six months, promoting long-term commitment.
- Other eligible participants were able to redeem their ANZ tokens immediately.
During its launch, the initial market valuation of ANZ was about $6 million, which is noticeably lower than that of Magic Eden.
Despite this, the airdrop received positive feedback from farmers who were able to generate profits due to lesser competition and lower Total Value Locked (TVL) on the platform.
Currently, Anzen Finance has approximately $92 million in locked capital, indicating growth over recent months.
Fuel Network Unveils FUEL Token Airdrop 🚀
On December 10, the Layer 2 Fuel Network project announced its upcoming crypto airdrop for the native token, FUEL. The primary goal of this initiative is to enhance the security of its blockchain by decentralizing the network’s sequencer.
The FUEL token will have a maximum supply of 10 billion units, with 2 billion tokens (20% of total supply) earmarked as rewards for community participants. These rewards will be available to individuals who engaged with the Fuel Points Program and those who participated in the incentivized testnet.
The project has successfully raised $80 million through multiple funding rounds, leading to a valuation of $1 billion. Significant returns for farmers are anticipated as the token launch approaches within the forthcoming weeks.
Furthermore, individuals who have utilized the Fuel bridge even once will qualify to participate in a private sale hosted on the Impossible Finance platform.
- 100 million FUEL tokens, which represent 1% of the total supply, are available for purchase at a price point of $0.02, resulting in a proposed $200 million FDV.
- Participants must hold a minimum of 15 IDIA tokens and 2000 USDC on the Arbitrum network to be eligible.
Odos DEX Aggregator: Airdrop After Years of Anticipation 🎊
Recently, the DEX aggregator Odos made headlines by announcing its governance token after a wait of four years since its official launch. The announcement detailed the eligibility criteria for rewards for users who have utilized the protocol on the Arbitrum and ZKSync networks.
All participants who traded on a minimum of three separate days between March 11, 2022, and August 28, 2024, with a trade volume of at least $100, will be eligible for the airdrop.
The TGE for ODOS is anticipated on December 20, 2023, at 5 AM UTC, with a total supply of 10 billion tokens. While the claiming process has not yet opened, users can check their allocations ahead of the event.
With around 500,000 users eligible for the airdrop, the distribution may be extensive, potentially leading to lower individual rewards. Some market analysts predict that the FDV of the token may not exceed $300 million, implying a trading price around $0.03.
Overall, the introduction of the ODOS token serves not only for community governance but also plays a crucial role in the newly launched Odos DAO organization, aimed at promoting user engagement and rewarding previous users.
For more information about the developments in the airdrop sector this year, explore the links below:
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