Crypto Airdrops in 2024
Some possible crypto airdrops to look out for in 2024 include LayerZero, MetaMask, EigenLayer, and zkSync. There are also DEXs like Ambient, lending protocols like marginfi and Atlendis, along with Layer 2s like Taiko, Scroll, and Fuel.
Key Takeaways
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Cryptocurrency projects embrace token airdrops as a proven strategy to grow their community and drive financial viability. The airdrop scheme usually matches the project’s goals.
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There has been a good number of airdrops every year since 2020. To increase your chances of qualifying for an airdrop, you can look into becoming an early user of projects that are likely to offer airdrops.
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A number of popular cryptocurrency projects are rumored to be airdropping a portion of their native tokens to their community in 2024, including LayerZero, Quai, and Shardeum.
This article was updated in January 2024 to reflect new potential airdrops by the CoinGecko team.
Interested in receiving some free crypto in your wallet? As part of their token launch, some cryptocurrency projects send free tokens to their communities to drive adoption, an activity commonly known as “airdrops.” But what are airdrops, and how do you qualify for these free tokens? Read on!
What Are Crypto Airdrops?
Cryptocurrency projects are big on incentivization as a way to drive interest towards their brand and the product itself, and airdrops are designed to introduce users to the project and reward them in the process as a dual marketing and reward system. As you'll see in the list below, one of the most common ways to improve your eligibility for new airdrops is to use the testnet or interact with the protocol.
Early airdrop programs were basically structured to introduce a new or existing project to the cryptocurrency community by rewarding new users who perform simple social tasks. On completion, the participants receive a certain number of token rewards.
Over the past five years, airdrops have changed as the goal has shifted towards rewarding early adopters and significant contributors. After Uniswap’s high profile airdrop in 2020, where $6.43 billion worth of UNI was distributed (valued at its ATH token price of $42.88), cryptocurrency projects are adopting airdrop systems that utilize more advanced technologies and deliver better rewards. DeFi projects champion this approach, and since 2020, every year has recorded significant airdrops:
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On 25th December 2021, OpenDAO airdropped a major portion of its SOS token to NFT traders on OpenSea.
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Some of the most popular airdrops of 2022 were BAYC’s Apecoin airdrop to its NFT art holders, Ethereum Layer 2 network Optimism’s airdrop of its OP token, and Aptos’s airdrop to its early adopters.
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In 2023, we've already seen the Arbitrum airdrop, with over 42 million ARB claimed in the first hour. Other high profile airdrops in 2023 include Celestia's TIA and Blur.
With the year 2024 already upon us, let’s take a look at some likely airdrops that might happen over the year, and how you can qualify for these upcoming crypto airdrops.
Do note that unless specified otherwise, these potential airdrops are highly speculative and a feature in this list is no guarantee that an actual airdrop will happen in the future.
Ambient: Efficient Ethereum-based DEX
Ambient is a DEX that allows for two-sided AMMs, which runs in a single smart contract. Its single-contract architecture lets Ambient reduce gas and taxes, while letting users manage their collateral in a single location without having to move their tokens between pools. Ambient also combines concentrated, ambient, and knockout liquidity in the same pool, where users can set their ranges.
Why an Airdrop Is Likely
As of December 19 2023, Ambient has surpassed $100 million in total trade volume. A cryptic tweet from the project has led to speculations that an Ambient token is possibly in the works.
Our thesis is simple:
— ambient (@ambient_finance) December 15, 2023
Liquidity providers should make money.
Improving Potential Airdrop Eligibility
To improve your potential Ambient airdrop eligibility, you can swap, set limit orders, and add liquidity. You can also improve your chances at scoring a Scroll airdrop by selecting Scroll as your network.
Scroll: Zero-Knowledge Layer 2 Tackling MEVs Through L2 Mining
Like zkSync, Scroll is also a zero-knowledge Layer 2, aiming to scale Ethereum while maintaining user privacy. It uses a hierarcichal zero-knowledge proof system for easy deployment and efficient verification, and L2 mining, which separates the transaction packing and mining process to protect against negative MEVs. Scroll can also establish communication channels between dApps on Scroll and dApps on other L2s, which opens the opportunity for strategic partnerships betwen applications.
Why an Airdrop is Likely
As a Layer 2 solution, there's a chance that Scroll will eventually release a token for protocol governance, as seen in the case of Arbitrum, Optimism, and zkSync's confirmed (but unreleased) token.
Improving Your Airdrop Eligibility
With the Scroll Alpha Testnet released, you can start participating in the testnet after connecting your wallet. Once in, you can join the Scroll guild, interact with the version of Uniswap on the testnet, and also explore other dApps on Scroll. To find out more about Scroll and how to improve your chances in the event of a Scroll airdrop, check out our guide on Scroll.
Taiko: An Ethereum-Equivalent ZK-Rollup
Taiko aims to offer developers complete Ethereum compatibility through Ethereum-equivalence, where they can deploy existing dApps without modification. As a zk-rollup, it offers faster withdrawals than its optimistic rollup counterparts, as it uses cryptographic proofs to validate transactions, removing the need for a challenge period. Moreover, it maintains the state of all L2 transfers with minimal data, simplifying block validation and data transfer to the Layer 1, offering developers and users a scalable blockchain that can accomodate a growing number of users and transactions.
Why an Airdrop Is Likely
Taiko Labs has indicated the introduction of a Taiko token (TKO) in their white paper, which is designed to reward block verifiers. Also, with the launch of the Alpha-3 testnet along with the opportunity to earn points on Galxe, it seems likely that engaging in testnet activities and earning points could translate to token rewards.
Improving Potential Airdrop Eligibility
To improve your potential Taiko airdrop eligibility, you can engage in testnet activities like swapping test tokens. You can also complete quests on Taiko's Galxe page, like taking quizzes and visiting pages to learn about Taiko.
EigenLayer: Restaking Primitive on Ethereum
EigenLayer is a middleware developed on Ethereum that aims to commoditize decentralized trust, where protocols can utilize Ethereum's highly secure trust network, reducing costs and eliminating the need to establish a complete validator set. Staking on EigenLayer also improves capital efficiency, as stakers on EigenLayer will receive additional staking rewards on top of what they're already receiving from their liquid staking derivatives or Ethereum. However, they'll be undertaking additional staking risks.
Why an Airdrop is Likely
While the protocol has not announced the launch of an EigenLayer token, it is possible that EigenLayer will introduce its own token to improve scalability and security, where potential stakers will need to stake a minimum number of EigenLayer tokens to be eligible to stake.
Improving Your Airdrop Eligibility
To potentially qualify for an airdrop, you can interact with EigenLayer by staking rETH or stETH on the EigenLayer testnet, or on the main network when restaking opportunities are available. You can do this regularly, as airdrop programs tend to reward users based on the frequency of interactions.
Renzo Protocol: Liquid Derivative Platform Built on EigenLayer
Renzo lets users restake ETH without needing to worry about EigenLayer caps, while handling the restaking strategy for Actively Validated Services (AVSs), which are decentralized services that inherit Ethereum’s security through EigenLayer. Instead of users having to balance risk and rewards for securing AVSs, Renzo will evaluate, optimize, and actively manage restaking strategies on their users’ behalf.
Why an Airdrop is Likely
Renzo has released a point system, where participants in the Renzo ecosystem will receive points. Users can earn Renzo ezPoints by minting and holding ezETH, and by referring other users who deposit ETH on Renzo.
Improving Your Airdrop Eligibility
You can collect Renzo points by minting and holding ezETH in your wallet, and receive 1 Renzo ezPoint per hour for every ezETH they hold. There are boosts available for early participation. You can also invite other users to participate, and you will earn an additional 10% of the referred user’s points.
MetaMask: Wallet With Over 30 Million Users
MetaMask is one of the most popular wallets in the crypto space. MetaMask lets users store their private keys, interact with the blockchain, and connect to decentralized applications. Recently, MetaMask has introduced features like built-in swaps, fiat on-ramp, bridge aggregators, and even liquid staking services.
Why an Airdrop is Likely
In March 2022, Consensys founder Joe Lubin confirmed the release of a native token to grant governance via a DAO to pursue 'progressive decentralization', although there has been no confirmation if the token will be distributed via an airdrop.
Improving Your Airdrop Eligibility
To improve your MetaMask airdrop eligibility, you can use the built-in features on MetaMask to interact with different networks and protocols. This includes depositing and purchasing tokens, using MetaMask's swap feature, bridging assets across different chains, connecting your MetaMask wallet to various dApps, and using MetaMask's liquid staking feature. You may also want to consider the frequency of your transactions, as that may also be a criteria.
LayerZero: Enabling Cross-Chain Applications
LayerZero is an inter-chain communication protocol built on Omnichain. LayerZero employs oracle technology to facilitate the transfer of information between applications built on different blockchain networks. The communication it creates between blockchain networks transcends simple asset bridging; LayerZero’s technology hopes to connect every blockchain network into one by allowing applications built on one chain to rent infrastructures from other chains. Layers Zero does this while keeping these interchain transactions secure through proper validations on the chain that receives the request.
Improving Your Airdrop Eligibility
While an airdrop is not confirmed, users who believe that a LayerZero airdrop is incoming can start by engaging with projects on LayerZero. Stargate is one of the first protocols on LayerZero, and you can consider providing liquidity, staking STG tokens, or voting on DAO proposals. You can also consider using the Aptos bridge, which is powered by LayerZero.
zkSync: Layer 2 Protocol Using Zero Knowledge Proofs
zkSync leverages Layer 2 solutions to provide an alternative and more efficient way to use the Ethereum blockchain. Layer 2 solutions seek a faster and cheaper transaction experience while benefiting from the strong security system on the Ethereum network. zkSync hopes to achieve this through a modified version of the ZK-rollup. Matterlabs’ Opportunity protocol also hopes to deliver cutting-edge performance on its network through the zkSync 2.0 upgrade.
The Opportunity protocol features systems that support multiple, interoperable blockchains known as HyperChains. In their report, zkSync claims that HyperChains will be flexible and allow developers an array of options while choosing the way their applications and chains work.
Why an Airdrop is Likely
According to the project’s developer documentation, the company has always planned to release a token for the zkSync network, but no details have been released. However, with zkSync structured to grow into a formidable ecosystem with numerous projects deploying their solutions on the platform, and growing this ecosystem will likely require a token to spearhead its financial systems and support its technologies.
Improving Your Airdrop Eligibility
The most likely criteria for eligibility of a potential zkSync airdrop is trying out any of zkSync’s products or applications in its ecosystem. Again, there are no hints that this will be a criteria; however, testers on the zkSync2.0 testnet and users of zkSync 1.0 have relatively better chances of qualifying for a drop as they are early adopters.
Now that the network is live, some ideas to improve your airdrop eligibility includes interacting with the ecosystem and depositing liquidity on the network. To find out more about how you could enhance your eligibility for the potential zkSync airdrop, check out our dedicated to the zkSync airdrop here.
Fuel: Modular Blockchain Architecture
Originally the first optimistic rollup to be launched on Ethereum, Fuel targets scalability. As the industry shifts from monolithic blockchain structures, where all blockchain functions are carried out by a single party, modular architecture separates execution from the other functions, allowing for specialization at the base layer and increasing throughput.
Fuel has the potential to function as a rollup, a sidechain, or even potentially a Layer 1.
Why an Airdrop is Likely
Judging by how many Layer 2 blockchains have released airdrops, such as Arbitrum and Optimism, there is a possibility that Fuel, as another optimistic rollup, might release an airdrop.
Improving Your Airdrop Eligibility
With the testnet up, it's an opportunity for those interested in the Fuel ecosystem to get started trying out Fuel and projects on its ecosystem, which may be considered as airdrop eligibiltiy criteria at a later date.
You can learn more about Fuel and how to qualify for the potential Fuel airdrop in this article.
marginfi: Decentralized Lending on Solana
marginfi is a decentralized lending protocol on Solana, where users can lend tokens and earn yield, or borrow tokens using tokens lent as collateral. All borrowing on marginfi is over-collateralized, and interest is specific to each asset. marginfi offers lending/borrowing and staking, and also offers swaps powered by Jupiter and bridging facilities powered by Mayan.
Improving Your Airdrop Eligibility
While a marginfi airdrop is not confirmed, the protocol has introduced mrgn points, which reflects a user's level of engagement with marginfi. Lenders can earn points by depositing on marginfi, which accumulate at a rate of 1 point per dollar per day. Borrowers earn 4 points per dollar borrowed per day, on top of lending points from their loan collateral. Finally, users also earn 10% of any points earned by a new user that they have referred to marginfi.
Quai Network: Blockchain Network Utilizing Merged Mining and Sharding
Quai Network pursues scalability and improved user experience through a combination of the security of Proof-of-Work, and the scalability of sharding, where miners can validate multiple chains using the same mining hardware and bandwidth, and each chain (or shard) can independently process transactions and properly record them on the individual and general ledger. This lets Quai Network boast a general transaction speed of up to 50,000TPS.
Improving Your Airdrop Eligibility
Quai Network has a social media reward program, which incentivizes the crypto community to engage with the project socially, distributing Quai tokens to enthusiasts who successfully complete the social task. Rewards are yet to be distributed but will likely happen after the mainnet launch.
Thinking of participating in the Social Media Rewards Program? Find out how you can participate and the rewards here.
Thetanuts Finance: Generating Yield With Options Strategies
Feeling lucky for the new year? Another project to take a look at for a potential drop is Thetanuts. Thetanuts offer organic yield opportunities for institutions and individual investors by offering aggregated options trading solutions. Thetanuts generate income by trading options contracts for a premium, and distributing the generated premium to investors who commit their assets to the Thetanuts options trading vault. Assets committed to the vault are used to fuel the options system and investors are rewarded through the premium distribution.
The Thetanuts team has stated that their protocol can properly run without facilitating income generation through a native token or other income generation that uses native tokens, but it's still worth a try.
Improving Your Airdrop Eligibility
While an airdrop is unconfirmed, investors who commit their assets to the Thetanuts vault are more likely to receive rewards if the project decides to run an airdrop program. If you’re interested in a potential Thetanuts airdrop, consider connecting to the project’s platform and contributing to the vault.
Atlendis: Enabling Uncollateralized Crypto Loans
Atlendis lets borrowers obtain loans from lenders without collateral while compensating lenders with attractive returns due to the risk. Atlendis serves institutions, protocols, and individuals in the finance sector by offering a flexible way of obtaining capital from the lending markets. Lenders on the other hand will receive improved rewards and benefit from risk-management facilities offered by Atlendis.
Improving Your Airdrop Eligibility
While an Atlendis airdrop is speculation at this point in time, you can try your luck by interacting with the Atlendis protocol and depositing supported assets into the protocol’s staking pools.
Shardeum: EVM-Compatible Sharded Blockchain
While you search for the next big airdrop, Shardeum is exploring the best possible way to deliver the best blockchain experience on a Layer 1 network. Shardeum claims to be developing a super-fast new-generation smart contract blockchain by utilizing sharding technology.
Shardeum, an EVM-based blockchain network, will employ this technology to develop a network of split chains that are capable of executing transactions. User requests are hence split across the shards as the network processes them. Shardeum’s projected speed is up to 2,000 transactions per second, and the blockchain runs on the Proof-of-Stake and Proof-of-Quorum consensus mechanism.
To learn more about Shardeum and how it uses dynamic state sharding to ensure scalability and low gas fees forever, check out the guide here.
Why an Airdrop is Likely
If anything is certain, it is that fact that Shardeum will inevitably issue a native token. Another certainty is that a portion of this token will be allocated to the community. Shardeum has announced that 5% of its total token supply will be allocated to the community for airdrops.
Improving Your Airdrop Eligibility
As Aptos did, Shardeum is likely to reward early testers. You can try your hands on the Shardeum network by running the testnet and carrying out transactions on the platform. To use the Shardeum testnet, you can add the Shardeum network to your MetaMask wallet, claim faucet tokens and tweet your experience, with social engagements and testnet activities being likely to form the eligibility criteria.
To find out more about improving your eligibility for the Shardeum airdrop, check out our guide.
ZetaChain: Enabling Messaging Across Blockchains
Interoperability protocols built on Omnichain are on the rise and ZetaChain is one of those projects working on a safer and more efficient communication system between different blockchain networks. The smart contract platform supports the exchange of data between smart contracts and other blockchain networks. ZetaChain moves ahead of similar projects by offering support for its own smart contracts and extensive interaction facilities for applications built using its protocols.
Why an Airdrop is Likely
ZetaChain is yet to launch a token. The testnet is live and users can try out the platform’s numerous features. However, it is almost certain that the project will be issuing its native token once the platform is fully functional. In the meantime, users can accrue testnet points by running certain activities. These points are expected to translate into token rewards at some point.
Improving Your Airdrop Eligibility
Zeta Points can be earned by connecting to the ZetaChain platform and performing regular activities like testnet token transfers and swapping. Social activities like referring new testers also earn the referrer Zeta Points and even more points when the invitee performs transactions on the platform. The ZetaChain bug bounty program also rewards testers with Zeta points for finding and reporting issues. Completing these tasks may increase your probability of being eligible for the ZetaChain airdrop (if it happens).
Final Thoughts
We’ve gone through some likely drops for 2023, however, this list is non-exhaustive and there are no guarantees that the drops listed here will eventually happen. That said, there are recurring trends in what you can do to improve your eligibility, such as staying active in the space and interacting with the project.
Finally, this content is provided for educational purposes and should not be taken as financial advice. Always do your own research before choosing to interact with any protocols or decentralized applications.
Joel is deeply interested in the technologies behind cryptocurrencies and blockchain networks. In his over 7 years of involvement in the space, he helps startups build a stronger internet presence through written content. He is the founder of CryptocurrencyScripts. Follow the author on Twitter @agboifesinachi
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