Inventory of 5 airdrops worthy of attention in the near future and how to participate
Author: Lucas Campbell
Original source: Bankless
Compilation of the original text: The Way of DeFi
Author: Lucas Campbell
Original source: Bankless
Compilation of the original text: The Way of DeFi
Airdrops are a perfect way to incentivize early users to test a new project and gain some user momentum.
However, since the airdrop is so financially rewarding, it has also attracted speculators to participate. The countermeasure is that some protocols are making their airdrops more difficult to obtain.
This is why you need a targeted airdrop strategy.
From what Hop, Optimism, and Velodrome have shown recently, airdrops are very effective.
Who Said Bear Markets Are Boring?
Image credit: Logan Craig
Top 5 airdrops (and how to get them)
image description
Image credit: Logan Craig
Airdrops are standard practice for cryptocurrencies, and for good reason.
As a native mechanism of Web3, airdrops provide a channel for users to gain ownership by becoming an early supporter of the products they use.
Imagine if Uber distributed equity on IPO day to everyone who ever drove or rode in the company. This is not only a huge win for investors, but also for the people who make Uber successful -- its users.
This is one thing that Web3 makes possible. It unlocks the ability to distribute any type of value to anyone using the platform or participating in the community.We've already seen this Web3 prototype in action - Uniswap, ENS, dYdX, and Optimism all provide good examples of airdrops.We've also seen countless stories of user success from them.
Darren Lau, founder of The Daily Ape
previously tweeted
These are stimulus checks for web3.
01 Opyn
Project Overview
Want to cash in? Here are a few things to be aware of.
secondary title
Project Overview
Opyn is a decentralized options protocol on Ethereum. The protocol has a range of products, most notably Squeeth - a structured product offering 2x leverage on ETH.
Opyn also serves as the basis for other notable DeFi protocols such as Ribbon and Stake DAO, which leverage the protocol to build options-based products.
profit strategy
Here are some strategies that have the potential to get you an airdrop:
Mint or hold oTokens (call and put options)
Provide liquidity for oToken
Forge or hold Squeeth
Liquidity on Squeeth
2.Use products built on Opyn (Ribbon & Stake DAO)
3.Option Strategies for DeFi Degens
02 Across Protocol
Project Overview
How to use ETH
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Project Overview
Across Protocol is an emerging cross-chain bridge built on UMA's optimistic oracle. The bridge currently supports major networks such as Ethereum, Arbitrum, Optimism, and Polygon. Importantly, Risk Labs is taking a community-focused approach where the community is responsible for distributing ownership of the protocol. This work has been going on for a few months, so it can be expected that there will be some new developments in the near future.
profit strategy
bridge fund
03 Metamask
Project Overview
L2 Migration | Cross-Chain L2 Panel
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Project Overview
You may be familiar with Metamask, the leading browser wallet for Ethereum. For a long time, there have been rumors that the wallet will launch tokens. Details are still very sparse, and nothing confirmed by the Metamask team. That said, if the wallet were to launch tokens, it could be on the same scale as large airdrops like Uniswap and ENS.
It is definitely worth using Metamask whenever possible. It is hard to predict (whether Metamask will launch a token airdrop)!
profit strategy
Using Metamask Swaps*
Metamask Swaps and 1 million monthly users
04 Zora
Project Overview
ZoraNote that Metamask Swaps has been the potential airdrop mechanism that has received the most public attention. As a result, there is likely to be a wave of junk trading on the exchange, which means qualifications could be slashed.
secondary title
Project Overview
is an NFT market protocol that allows permissionless creation and trading of NFTs. The team recently released version V3, adding mechanisms to incentivize builders, and a modular architecture controlled by Zora DAO (token hint!). Zora also released Zorbs in late 2021, a permissionless identity system for Web3 and a way to solidify your early support for the protocol.
Given the launch of the Zora DAO, it is quite possible that Zora will launch a token to help facilitate ownership of the organization and protocol.
profit strategy
Buy NFTs on Zora
2.Use Zora-based products (example: Catalog)
How to buy $TAPE on Zora
05 Layer 2 Ecosystem
Project Overview
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Source: Coin98 analysis
Project Overview
Layer 2 networks are at a growth inflection point - which is good news for airdrops. Both Optimism and Hop Protocol have recently launched tokens and are gaining momentum. For Layer 2 network users, there are many opportunities today.
Many bridges and L2 networks still have no tokens. Here are a few:
StarkwareAcross Protocol (soft confirmation)
Arbitrum (unconfirmed)
Aztec Protocol (unconfirmed)
(unconfirmed)
zkSync (confirmed)
This does not include any apps!Arbitrum Odysseyprofit strategy
To this end, we will introduce Arbitrum - the leading Ethereum layer 2 solution for lock-by-value.
The network recently launched
, a 2-month event highlighting key projects on Arbitrum, where users who complete Odyssey each week earn special NFTs.
Therefore, you can deploy some money-making strategies:
Use the app on Arbitrum
Use the bridge to Arbitrum
1.Arbitrum Collect Arbitrum Odyssey NFTs
2.Use applications on Ethereum (see Optimism airdrop idea).
3.Optimism Bankless resources
L2 tokens are coming
Best Yield on Tier 2
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The Future of Airdrops
While airdrops are a great way to distribute ownership, bad actors are everywhere. The protocol is being attacked by bots looking to fake their campaigns to gain access to future airdrops. People also tend to dump tokens immediately after the airdrop rather than take governance responsibility.
The good news is that airdrop design is getting better. Teams can identify Sybil attacks and other fake activity by looking at the data. They can implement more protection mechanisms to deter short-term players.
Here are some mechanics I'll be focusing on in the near future:
Sybil Hunting: Hop Protocol implements a novel Sybil Hunting program, and users who identify a Sybil attack in the data set will receive the attacker's token as a reward. This program works flawlessly - hopefully this will become standard practice in the future. Sybil attackers beware!
Multipliers: Optimism enables users who complete multiple actions in the airdrop method to earn additional rewards. This is a valuable addition because it rewards power users and establishes the most consistent core user base.
Use-to-unlock: This was pioneered by dYdX where users must continue to use the product in order to unlock their airdrop rewards.
Vesting schedule: While it’s not widely adopted yet, it wouldn’t be a surprise if protocol teams start implementing a vesting schedule on airdrops to reduce the impact of first-day sellers.
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