Crypto protocols have developed a unique way to reward their early adopters and contributors: through token airdrops. These airdrops distribute protocol tokens to the initial supporters, granting them not only a stake in decentralized governance but also offering tokens that carry potential monetary value.
While not every airdrop guarantees a windfall of tokens, there’s always a chance for substantial gains. History has shown that users have earned millions in token value from past airdrops, and some crypto tokens have seen significant appreciation over time.
In the crypto community, recent notable airdrops from entities like Blur and Pyth Network have sparked interest among enthusiasts eager to identify the next major protocol that rewards user participation. However, it’s crucial to understand that many projects are now leaning towards retroactive airdrops. This means they reward users for their past activities. Therefore, if you haven’t engaged with these protocols yet, you might miss out on these opportunities.
For those looking to capitalize on such airdrops, staying actively involved with emerging crypto protocols is key. Keeping an eye on the latest developments and engaging with new platforms could potentially lead to rewards in the form of valuable airdrops in the future.
Here’s a look at some of the biggest airdrops that either just commenced or are coming soon.
Jito
On December 7, the Solana DeFi protocol, Jito, introduced its JTO token airdrop, coming shortly after the announcement of the token’s impending release the week before. Notably, Coinbase swiftly added the Solana-based token to its listings. By the evening of the launch, the total value of the airdrop soared to $225 million. For users who interacted with Jito prior to the airdrop snapshot, it’s essential to verify whether their wallets qualify for claiming a portion of the JTO tokens.
Starknet
Recently, Solana has been at the forefront of significant airdrops, yet the next major one might emerge from the Ethereum ecosystem. Starknet, known for its layer-2 scaling solutions, declared on Friday its intention to conduct an airdrop of its STRK token in the near future. This event is poised to distribute a substantial sum of 900 million tokens, specifically targeting early users and contributors of the platform. While Starknet has not yet disclosed specific eligibility criteria or a precise schedule for the airdrop, users who have engaged with this Ethereum scaling network should remain alert for upcoming details.
Blast
Blast, an emerging layer-2 scaling solution on the Ethereum network and a venture by the creator of the renowned NFT marketplace Blur, has sparked considerable debate. Despite some public criticism from one of its primary investors, this hasn’t deterred traders from actively investing. Currently, the amount of ETH and stablecoins staked in anticipation of future token airdrops exceeds $1.1 billion.
The driving force behind this enthusiasm is partly due to Blur’s successful track record, having previously distributed BLUR tokens worth several hundred million dollars to its users. Blast appears to be adopting a similar strategy, offering substantial incentives to attract a broad user base. The heightened demand is evident, and Blast has been transparent about how users can engage with the platform to maximize their potential for earning rewards.
Jupiter
After the launches of Pyth and Jito, Solana’s ecosystem is gearing up for another significant airdrop, this time from Jupiter, a well-known DeFi aggregator. In November, Jupiter announced that almost a million wallets would be eligible for the airdrop, thanks to their interaction with Solana’s prominent decentralized exchange (DEX). Additionally, Jupiter introduced a feature enabling users to check the amount of JUP tokens they could receive. This eagerly awaited airdrop is scheduled to take place in January.
Portal
The crypto community, especially on Twitter, has been buzzing recently about Portal’s upcoming gaming token. This excitement isn’t purely spontaneous; Portal is actively encouraging Twitter users to spread information about their forthcoming PORTAL airdrop. Participants who help disseminate this news are promised points, which are expected to translate into tokens at a later stage.
The Portal project, aiming to unify different crypto games through a singular, cross-chain token, has sparked numerous inquiries. While there was some initial mystery surrounding the project’s specifics, more information is gradually being revealed. Portal has confirmed that its anticipated airdrop is slated for January.
Frame
Frame, a novel Ethereum-based scaling network, is focusing on NFT projects and aims to attract a broad user base. To achieve this, its creators have decided to conduct an airdrop, targeting individuals who have traded NFTs on Ethereum within the past two years, up to their announcement date on December 19.
Users interested in participating can currently verify their eligibility and determine the number of FRAME tokens they are entitled to receive. However, the actual distribution of these tokens is scheduled for January 31, 2024, coinciding with the launch of Frame’s mainnet.
Saga
Saga, a cryptocurrency gaming protocol designed to assist developers in creating dedicated blockchains for games, is gearing up for its mainnet launch in January. In line with this, Saga has begun discussing its plans for a series of airdrops.
Developers who have been actively involved in the testnet will be the primary beneficiaries of the initial airdrop. Following this, members of the Saga community can expect to receive tokens in a subsequent airdrop. Additionally, Saga has initiated a “play-to-airdrop” campaign. This campaign aims to reward players who excel in various competitions hosted on games developed on Saga’s testnet. The protocol is also planning collaborations with games on other blockchain networks.
Xai
Arbitrum’s “layer-3” gaming network, Xai, is preparing for its inaugural XAI token airdrop, which is now scheduled for early January. This event was postponed from its initial date of December 27. Eligible participants include Sentry Key owners who operate nodes that support the network, as well as owners of two NFT projects associated with Xai.
Solana Saga
Have you been fortunate enough to acquire a Solana Saga smartphone before the initial production batch sold out? If the answer is yes, then you’re in for a series of token airdrops, in addition to various perks and advantages. You can find a comprehensive list of these opportunities at the provided link, which will be continuously updated as more projects join in.
Tensor
Solana’s emerging premier NFT marketplace has been teasing an impending airdrop for several months, taking a page from the Blur playbook. Just like Blur, it has been motivating traders through a points-based system, with the expectation that these points will translate into token rewards for active traders. Given the increasing activity in Solana’s NFT sector, this opportunity holds significant potential value.
Notably, Tensor’s NFT project, known as Tensorians, might have a part to play in this airdrop, which could explain the recent surge in prices. The convergence of these factors has fueled anticipation within the community, making it an exciting time for Solana NFT enthusiasts.
Editor’s note: This article was originally published on December 9, 2023, and has been updated with the latest information on December 29.
Source: decrypt.co