Do you know the principle of the airdrop? This strategy is increasingly used by crypto projects that reward their first users by offering tokens for free. Let’s take a look at the top 5 airdrops to watch in February 2023.
The 5 most promising airdrops
Before presenting the 5 projects targeted in this article, it is necessary to set the context. The airdrop is a trend that really became popular in early 2021 and which has picked up enormously in recent monthsso much so that more and more projects are now using it.
Concretely, when a decentralized finance protocol (DeFi), a blockchain or any other project decides to launch its own token, it can use an airdrop: it offers tokens for free. The idea is to reward so-called “early” users, that is to say those who have been present for some time.
For the project team, it is a way to highlight their product and quickly increase the capitalization of the token. For the investor, it is an interesting way of build a larger portfolio.
Indeed, some can have a big impact on the portfolio ($10,000 with ParaSwap, $15,000 with Uniswap, $20,000 with dYdX, $5,000 with Aptos, etc.). Moreover, the latest shared by our experts at Cryptoast Research allowed some members of the group to receive an interesting reward:
The reward obtained by a member of Cryptoast Research for the second airdrop of Optimism (OP)
Let’s see together the 5 airdrops that could potentially take place in the coming weeks:
Lens Protocol; Arrakis; Vela; Arbitration; Blur.
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Lens Protocol
Let’s start with one of the most followed projects in recent times. Developed by the Aave team and officially launched in May 2022, Lens Protocol represents one of the next revolutions enabled by Web3. This platform provides developers with the tools and technological foundation needed to build decentralized social networking applications.
There are many rumors of an airdrop of tokens by the Aave team, although this does not yet exist and has never been confirmed. However, in an attempt to qualify, the best solution is to get what is called a “handle”that is to say a profile giving access to the Beta version.
To do this, it is possible to acquire one on the secondary market via OpenSea, but this represents a cost: around 100 dollars at present. Otherwise, the best option is to join the Discord of the project and follow the news. For example, it is currently possible to obtain the precious sesame by performing specific tasks on Phaver.
Arrakis
Arrakis Finance is a protocol that is positioned on top of the decentralized exchange Uniswap. Using algorithmic strategies, users can provide liquidity in Arrakis Vaults and automate their management.
Currently, the protocol does not have tokens, but rumors are rife about a potential airdrop. In addition, the team has already raised 4 million dollars for the smooth running of the project, supported in particular by Polygon Fund and Uniswap labs.
In an attempt to make yourself eligible, the best advice is to naturally use the functionalities of the protocol. For example, this may consist of the action of depositing funds into one of the available liquidity pools, and doing so on several blockchains.
Vela
Once is not custom, it’s the turn of an airdrop having been confirmed by the project team. Vela is a decentralized exchange on Arbitrum specialized in trading on perpetual contracts. To put it simply, the operation is approximately similar to that of GMX, which has been exceptionally successful.
Currently, Vela is in Open Beta and the team confirmed that contributors will be rewarded with an airdrop. In addition, she detailed the eligibility criterion: the greater the volumes made on the protocol, the greater the quantity of VELA tokens distributed.
In other words, just deposit funds on Vela and trade on one of the 6 available pairs. Note, however, that the project team clarified that open and immediately closed positions – with the aim of inflating the volume – will not be taken into account.
Arbitration
Arbitrum is one of the hottest blockchains lately. Developed by Offchain Labs, this second layer solution of Ethereum is based on Optimistic Rollups technologyalong with Optimism.
In a nutshell, the goal is to improve execution speed and scalability, while maintaining network security. For the moment, Arbitrum does not have tokens and so the community has been waiting for a potential airdrop for over a year.
To try to become eligible, the most important thing is to interact with the protocols: the official bridge, the DEX Camelot, the famous GMX, etc. Although this is a guess, it is also possible to purchase an “Arbitrum Odyssey Campaign” NFT to join the Arbitrum Guild and complete the few tasks allowing you to join the Guilds of other major projects and get the role on Discord.
Blur
Blur is the non-fungible token (NFT) marketplace everyone is talking about right now. As part of a first massive airdrop, it was able to attract a lot of new users and even surpassed OpenSea in terms of trading volumes.
Recently, the Blur team announced a new airdrop: 300 million BLUR tokens (about 300 million dollars) will soon be distributed to users. The announced criterion is loyaltysince Blur requires listing, buying or selling NFTs only through its platform to achieve a 100% rating.
Moreover, the volume of NFTs offered for sale will be multiplied by the note to calculate the value of the airdrop. Note that it will be difficult to cheat, since NFTs put up for sale several times in a short time will not be counted, as will worthless NFTs listed at too high a price.
If you want to learn more about the steps to follow to become eligible for these airdrops, and discover in preview other strategies identified by our experts, join Cryptoast Research. You will also be able to benefit from the daily technical analyzes of Vincent Ganne and the on-chain analyzes of Prof. Chain.
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Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.
Lilian Aliaga
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