Crypto Airdrops: From Marketing Gimmicks to Major Rewards
In Brief
This article reviews airdrops, highlighting important projects and providing valuable information for participants and seasoned users interested in expanding their crypto portfolio with new coins.
Hello, dear readers! My name is Ivan Volchek, and for the past four years, I’ve proudly been a crypto enthusiast. Now, as a member of the Mpost team, I’m excited to bring you insightful articles, in-depth market analysis, and the latest trends in the fast-paced world of cryptocurrency. Get ready for a wealth of knowledge and plenty of crypto excitement! In today’s article, we’ll review airdrops to highlight important projects you shouldn’t miss. As a bonus, we’ll provide valuable information for those looking to participate or for seasoned users eager to expand their crypto portfolio with new coins.
The Evolution of Crypto Airdrops
Initially, cryptocurrency airdrops were used primarily as marketing tools. Projects would distribute free tokens to raise awareness and attract users. A prime example of the shift in the role of airdrops is the Uniswap airdrop in 2020, which distributed $6.43 billion worth of UNI tokens. This event marked a turning point, demonstrating how airdrops could be used to reward early adopters.
Photo: Top 3 Crypto Airdrops (2023)
The future of crypto airdrops is dynamic, with numerous exciting projects lined up for 2024. These big crypto airdrops offer unique opportunities for users to engage with emerging blockchain technologies and potentially profit from their involvement.
One of the highly anticipated airdrops is from MetaMask, a popular crypto wallet with over 30 million users. Although the details are not confirmed, the community speculates that users who frequently utilize MetaMask’s features like token swaps, bridging assets, and interacting with dApps might be eligible for the upcoming airdrop. The rumored MetaMask token aims to grant governance rights to users, promoting decentralization within its ecosystem.
Another promising project is zkSync, a Layer 2 scaling solution for Ethereum using zero-knowledge proofs to offer scalable and low-cost transactions. Users can potentially qualify for the zkSync airdrop by adding the zkSync network to their wallet and bridging assets like ETH, USDT, or USDC to the zkSync mainnet. This interaction is important as zkSync aims to reward active protocol users once the airdrop is confirmed.
Additionally, it’s worth highlighting the Linea Park LXP project. Linea has been consistently attracting users to its ecosystem through various collaborations, an ever-evolving ecosystem, and multiple projects such as Voyage and Surge.
To illustrate this, the chart below shows the Total Value Locked (TVL) in Linea since the beginning of the year, demonstrating a steady increase. This indicates that more and more people are participating in this project.
Source: DefiLlama
This initiative has already captured the interest of the crypto community and is currently in the process of releasing tokens through several stages. The airdrop began on June 20th and will continue for six months or until the TVL reaches $3 billion. The airdrop is divided into different phases called Volts, with each phase allocating different amounts of points for activities. The points awarded decrease with each successive phase, making the first Volt the most rewarding phase.
By joining early, participants can maximize their rewards and take full advantage of the opportunities presented by the Linea Park LXP project.
EigenLayer
A middleware on Ethereum is another notable mention. It commodities decentralized trust, allowing protocols to utilize Ethereum’s secure trust network. Users can enhance their airdrop eligibility by staking ETH derivatives like rETH or stETH on EigenLayer. The protocol’s emphasis on improving capital efficiency and rewarding stakers makes it a big player in the airdrop space.
Renzo Protocol
Built on EigenLayer, it enables users to restake ETH and optimize staking strategies. The protocol has introduced a points system where participants can earn Renzo ezPoints by minting and holding ezETH. This point accumulation will likely influence the size of the airdrop allocation, making early and active participation beneficial.
Mega Dice Token (DICE)
It is an intriguing airdrop linked to the Mega Dice Casino. The token offers daily rewards based on the casino’s performance, with a total of $2.25 million worth of tokens set for distribution across three airdrop seasons. Active participation in the casino’s activities, such as wagering a big trading volume, is essential to qualify for this airdrop.
The 99Bitcoins Token (99BTC)
A learn-to-earn token from a renowned crypto education company, is another noteworthy airdrop. Users can participate by engaging with the company’s educational content and community, thereby earning a chance to win a portion of the $99,999 Bitcoin airdrop.
Marginfi
A lending protocol on Solana has also announced plans for an airdrop of its governance token, MRGN. Users can qualify by lending or borrowing crypto on the platform, with the airdrop allocation likely based on their level of participation and collected points.
Wormhole Airdrop
Wormhole, a cross-chain messaging protocol, plans to airdrop 678,823,000 tokens to over 400,000 wallets. This substantial airdrop aims to reward users who have engaged with the Wormhole protocol since its inception. Wormhole facilitates seamless communication between different blockchain networks, enhancing interoperability in the crypto ecosystem.
One notable airdrop was Jupiter, which distributed around $1 billion worth of tokens. Starknet and Notcoin also had big airdrops, each distributing about $1 billion in tokens. Other notable projects include Solana and Ethereum-based projects like Ether.fi and FriendTech, all of which have increased user engagement and expanded their networks.
These airdrops present opportunities for crypto enthusiasts. They not only offer free tokens but also encourage deeper engagement with innovative blockchain projects. By participating in these airdrops, users can potentially benefit from the growth and success of these emerging technologies while contributing to their ecosystems.
Conclusion
In summary, 2024 is set to be a year rich with airdrop opportunities, each promising to bring value and foster community growth in the crypto space. Staying informed and actively participating in these projects can be highly rewarding for users.
To enhance your convenience, our platform features a user-friendly airdrop calendar. Here, you can stay informed about ongoing airdrops to actively participate and upcoming airdrops to familiarize yourself with the projects in advance and get involved. If you are interested in the history of projects, we archive past airdrops for you to review. This way, you can either wish you had participated or be glad you missed out on certain opportunities.
Moreover, Mpost, along with our readers, embarks on the airdrop journey and documents it in our comprehensive Guide. This allows our readers to easily follow the steps, avoid mistakes, and save time. We are curating the top airdrops of 2024, and our collection will be continuously updated.
In our analysis, not all airdrops have met user expectations. For example, there was one project where the token initially reached a peak value upon launch but later declined due to market volatility and other factors. This drop meant that the actual rewards participants received were much lower than anticipated, often not even covering the transaction costs incurred during the farming activities. As a result, participants who expected high rewards felt misled and disappointed, leading to widespread dissatisfaction and an outflow of users from the platform.
As the saying goes, “Forewarned is forearmed.” By using our resources and guides, you can better navigate the airdrop landscape, make informed decisions, and optimize your participation.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Ivan Volchek has an impressive background in analytics and management. His expertise spans legal research, data analysis, and strategic management, making him a valuable asset in the digital currency landscape. Known for his analytical acumen and leadership skills, Ivan continues to drive innovation and excellence in his field.
More articles
Ivan Volchek has an impressive background in analytics and management. His expertise spans legal research, data analysis, and strategic management, making him a valuable asset in the digital currency landscape. Known for his analytical acumen and leadership skills, Ivan continues to drive innovation and excellence in his field.
