Solana’s native token SOL has surged 178% in the past month, kicking off what promises to be the biggest airdrop season ever for the ecosystem according to crypto analyst Miles Deutscher. Over a dozen Solana protocols are poised to launch tokens in 2024.
Deutscher details how interested airdrop hunters can position themselves across top protocols like Drift, Jito, MarginFi, JupiterExchange, Zeta Markets, Tensor, and Phantom. Each offers ways to accumulate “loyalty points” that will likely convert into airdrop allocations.
Amidst the Solana ecosystem, more than 20 tokenless protocols have quietly been building during the bear market. With improved market conditions, these protocols are now gearing up for token launches, setting the stage for an unprecedented airdrop season.
What you'll learn 👉
Drift Protocol
- Overview: Drift is a perpetual DEX, arguably the best on Solana, yet to launch its token.
- Qualification Steps:
- Connect your wallet to Drift
- Trade on the exchange
- Provide liquidity to the Drift Liquidity Provider (DLP)
- Stake assets in the Drift Insurance Fund Vaults
Jito
- Overview: Jito is a SOL liquid staking platform offering MEV-powered staking rewards of ~6.8% APY on $SOL.
- Qualification Steps:
- Stake SOL as jitoSOL on Jito
- Hold JitoSOL in your wallet
- Deposit JitoSOL into LPs in other DeFi protocols
- Refer others using their referral system
MarginFi
- Overview: MarginFi is a Solana money market facilitating borrowing and lending of various assets.
- Qualification Steps:
- Lend assets on MarginFi
- Borrow assets on MarginFi
- Refer other users to MarginFi
- Stake SOL as LST
Jupiter Exchange
- Overview: Jupiter is a DEX aggregator with features like limit orders, DCA, bridge, and perp trading.
- Qualification Steps:
- Swap on Jupiter
- Set limit orders on Jupiter
- Set DCAs using Jupiter
- Use the Jupiter bridge
- Trade perps on Jupiter
Zeta Markets
- Overview: Zeta Markets is an options trading platform providing effective risk hedging against crypto market movements.
- Qualification Steps:
- Deposit USDC and make trades on the exchange
Tensor
- Overview: Tensor is the leading NFT marketplace for Solana NFTs.
- Qualification Steps:
- List NFTs from the top 100 collections
- Bid on NFTs from the top 100 collections
- Market make NFTs from the top 100 collections
Phantom
- Overview: Phantom is the most popular Solana wallet with over 3 million users.
- Qualification Steps:
- Create a Phantom wallet
- Swap tokens through the Phantom wallet
- Unlock the DRiP Phantom collectible
While you can approach these airdrops individually, there are creative ways to qualify for multiple airdrops simultaneously through multi-protocol strategies, saving you both time and effort.
Read also:
- Solana Bullish as SOL Reaches $60 First Time Since May, But Initial Retracement to This Level Is Possible
- This BTC Indicator Makes It ‘Incredibly Easy’ to Know if Bitcoin Is in a Bull or Bear Market
- Analyzing Future Prospects: $ROE, XRP, and SOL’s Potential for Market Growth
In summary, the convergence of Solana’s technical resurgence and treasury-flush protocols make 2023 primed for potentially the most lucrative airdrop bonanza ever. Deutscher lays out a blueprint for traders to maximize their participation across the ecosystem’s premiere projects.
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