Airdrops: How They Work and Top Crypto Projects for 2024
Whether you’re new or a seasoned DeFi user, chances are you have heard the term airdrops every now and then.
Airdrops are a popular marketing strategy for DeFi protocols and crypto companies. They allow protocols to reward their community members for their activity and engagement, while also driving awareness and new traffic to the brand and its products.
Jupiter
Jupiter is a leading liquidity aggregator on the Solana blockchain. The protocol recently launched its native token, JUP, through an official airdrop. Around 40% of the 10 billion JUP tokens are reserved for the community, which will be distributed through four airdrop rounds based on users’ past engagement with the platform.
To qualify for future rounds, you can visit the Jupiter website, connect your Solana wallet, and engage in activities like swaps, perpetual trading, or cross-chain operations.
LayerZero
LayerZero is an Ethereum-based interoperability protocol that connects multiple blockchains. While specific details of the airdrop terms are pending, users can interact with protocols that have integrated LayerZero to potentially qualify. Stake tokens or become an active user in these protocols to increase your chances.
Marginfi
Marginfi is a decentralized lending protocol without a token currently, but speculation suggests a potential token launch in the future. Users can accumulate points by lending, borrowing, and referring others to potentially become eligible for an airdrop. Connect your Solana wallet to the Marginfi website and engage in various activities to earn “mrgn points.”
EigenLayer
EigenLayer is an Ethereum-based liquid staking protocol. The protocol has introduced several innovative features for yield farming and staking, which has airdrop hunters waiting for a potential token drop. To qualify, visit the app, connect your wallet, choose from available pools, and stake rETH or sETH regularly.
Base
Base is an Ethereum Layer 2 chain developed by Coinbase in collaboration with Optimism. While there are speculations about a potential airdrop, early users may be eligible if they engage in regular transactions on the ecosystem using trusted protocols and trade on popular apps like Rhino.fi bridge and Dexes like Uniswap and Odos.
Risks & Security Practices to Consider Before Hunting Airdrops
Participating in airdrops comes with risks that you should consider. Use a secure wallet, be aware of tax liabilities, watch out for potential scams, do your research about projects before participating, and be prepared for market volatility.
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