Top 10 Crypto Airdrops of 2024

Exploring the World of Crypto Airdrops

Crypto airdrops are promotional strategies used by blockchain startups to distribute free tokens to their user base. These airdrops serve as marketing tools to boost customer loyalty and encourage the adoption of new cryptocurrencies. Airdrops come in various types, including Standard Airdrops, Holder Airdrops, Exclusive Airdrops, and Bounty Airdrops. Participating usually involves keeping up with announcements, completing specific tasks, and receiving tokens directly in compatible wallets. It’s crucial to be cautious, verify the authenticity of airdrops, and avoid scams and phishing attempts.

Airdrops offer several advantages, such as increasing visibility in a competitive market, rewarding developer support, and distributing tokens to foster a strong community. However, there are some downsides that every investor should be aware of. These include potential network security threats, the risk of falling for scams, and the possibility of exposing your portfolio to low-quality projects. Additionally, airdropped tokens can be illiquid and may have no value without a sizable market to trade them. Investors must conduct thorough assessments before participating in airdrops.

In this blog, we’ll examine ten notable crypto airdrops and provide an overview of their characteristics. Please note that this list is based on internal research and should not be considered investment advice. Investors should make decisions based on their due diligence.

A Snapshot of 10 Notable Crypto Airdrops

LayerZero

LayerZero is an innovative blockchain interoperability protocol designed to facilitate seamless communication between different blockchain networks. This project provides the necessary framework for decentralized applications (dApps) to operate efficiently across various blockchains, making it highly desirable in the industry. In December 2023, LayerZero announced on Twitter an upcoming token distribution set for the first half of 2024. To be eligible for the LayerZero airdrop, participants must transfer tokens to the LayerZero network and engage with various LayerZero dApps, such as liquidity farming, swapping, staking, and voting.

StarkNet

StarkNet is an additional layer built on Ethereum, functioning as a decentralized, permissionless validity rollup known as a “ZK rollup.” This approach maintains Ethereum’s security and compatibility while enabling dApps to access unlimited processing capabilities. StarkNet achieves this by leveraging STARK, a highly scalable and secure cryptographic proof system. Recently, StarkNet announced a $1.8 billion $STRK airdrop. While it’s unclear if the snapshot of eligible participants has been taken, you can increase your chances by:

  1. Setting up a StarkNet Wallet
  2. Transferring Layer-1 EVM tokens to StarkNet
  3. Engaging in decentralized exchanges on StarkNet by buying, selling, swapping, and providing liquidity
  4. Participating in farming activities on StarkNet

ZkSync

ZkSync is another initiative built within the Ethereum blockchain ecosystem. This layer-2 solution aims to enhance transaction speeds on Ethereum and reduce gas fees using zero-knowledge (zk) technology. Addressing critical issues, ZkSync has fostered a thriving ecosystem of dApps, solidifying its position as a significant Layer-2 solution for Ethereum. To increase your chances of being eligible for a significant ZkSync airdrop, become an early adopter by actively participating in testing phases, which include:

  1. Linking your wallet to the ZkSync mainnet
  2. Transferring Layer-1 EVM tokens to the Layer-2 mainnet
  3. Creating NFTs using platforms on the ZkSync network
  4. Participating in farming activities on the ZkSync network
  5. Providing liquidity for decentralized exchanges on the ZkSync network

Ambient

Ambient is a decentralized exchange (DEX) enabling two-sided Automated Market Makers (AMMs) within a single smart contract. By utilizing a single-contract framework, Ambient reduces gas fees and transaction costs, allowing users to manage their assets in one place without transferring tokens across various pools. Speculation about an Ambient token arose after a cryptic tweet from the project. Enhance your chances of qualifying for the Ambient airdrop by engaging in swaps, setting limit orders, and providing liquidity. Similarly, increase your likelihood of receiving a Scroll airdrop by selecting Scroll as your network.

Shardeum

Shardeum, a blockchain network based on the Ethereum Virtual Machine (EVM), uses this technology to create a network of Shard chains capable of processing transactions. User requests are distributed across the shards as the network handles them. Shardeum aims for a speed of up to 2,000 transactions per second and operates on the Proof-of-Stake and Proof-of-Quorum consensus mechanism. A portion of the tokens will be allocated for the community, with 5% of the total supply reserved for community airdrops. To access the Shardeum testnet, integrate the Shardeum network into your MetaMask wallet, claim faucet tokens, and share your experience on social media. Community engagement and testnet activities will likely form part of the eligibility criteria.

Kamino

Kamino is a pioneering DeFi protocol that integrates Lending, Liquidity, and Leverage functionalities into a secure DeFi product suite. Initially designed to provide users with a straightforward method of supplying liquidity and generating yield on-chain, Kamino Finance will introduce its token “KMNO” and conduct an airdrop for early adopters. Users engaging in trading activities on the platform and accruing Kamino points will receive KMNO tokens based on their points. A portion of 7% of the total token supply is earmarked for the airdrop, with a snapshot of eligible users scheduled for March 31st.

Base

Base operates as a Layer 2 blockchain constructed atop Ethereum, serving as the blockchain platform for the prominent cryptocurrency exchange, Coinbase. Within its ecosystem, Base hosts various projects, including the bridge platform Rhino.fi, DAO Llama, the DeFi platform Aave Protocol, gaming company Animoca Brands, and the NFT marketplace Decent. To qualify for potential airdrops within the Base ecosystem, use the blockchain’s platform for asset bridging by:

  1. Visiting Base.org
  2. Selecting either “Deposit” (from Ethereum to Base) or “Withdraw” (from Base to Ethereum)
  3. Choosing the token to bridge
  4. Entering the desired amount of tokens for bridging
  5. Confirming the transaction

Scroll

Scroll is a Layer 2 blockchain designed for Ethereum developers, offering a fast, reliable, and scalable network where existing Ethereum applications can migrate at a lower cost. Notable projects in its ecosystem include the cross-chain aggregated DEX Chainge and the web3 wallet OKX Wallet. To potentially qualify for a Scroll airdrop, use the platform for asset bridging. As an Ethereum-based platform, Scroll supports Ethereum-compatible wallets, ensuring seamless integration. Users should actively engage with decentralized protocols on the Scroll network and stay updated on official communications from Scroll regarding airdrop conditions and notifications.

Tea

Tea is a decentralized technology protocol aimed at improving the sustainability and trustworthiness of the software supply chain. “Tea’s mission is to empower contributors to open-source software to receive recognition for their contributions by introducing web3 advancements.” The Tea Protocol utilizes Proof of Contribution, a ranking algorithm that evaluates the influence of each project within the open-source software ecosystem. To increase your chances for the airdrop, sign up with a Google, Microsoft, or GitHub account and try the features using testnet tokens to secure more points.

Mode Network

Mode is a modular Layer 2 solution built on Ethereum, collaborating with Optimism to establish an on-chain cooperative. “Mode’s objective is to empower developers and users to cultivate a thriving ecosystem of top-tier applications and receive direct rewards for their contributions.” Mode constructs novel on-chain economic frameworks to facilitate application scalability for developers and offer enhanced yields for users. Transitioning to Mode is seamless for those experienced in deploying on any EVM chains.

Conclusion

Participating in airdrops allows crypto enthusiasts to receive tokens as recognition for their loyalty and offers opportunities to become part of a vibrant community of early adopters. It’s essential to note that the provided list results from internal research and should not be considered investment advice. Conduct thorough due diligence to verify the legitimacy of a project before considering any investments. Staying informed about developments in the crypto space is crucial.

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