Projects have given out around $4 billion in Airdrop to cryptocurrency users this year.
Crypto projects have distributed 4 billion USD Airdrop this year. Photo: Decrypt
There have been a series of projects announcing Airdrop to reward and thank users in recent times. According to estimates, the total Airdrop value from the YTD has reached 4 billion USD, and is expected to increase further.
The three largest Airdrop are Jupiter , Starknet and Notcoin , each project distributing about 1 billion USD. Next are projects based on the Solana and Ethereum ecosystems, such as Wormhole , Ether.fi , FriendTech and Wen .
According to a summary of CoinGecko , the 3 biggest Airdrop in history are Uniswap , ApeCoin and DYDX . The total value of all Airdrop - as of December 2023 - is about 26.6 billion USD. This number takes the highest price per Token, so it may be far from the actual value.
It doesn't stop there, there are still many Token issuances this year. The closest is the controversial layer-2 zkSync . The airdrop of the Zeta Markets Airdrop exchange Solana system is also scheduled for this month.
As for the EigenLayer reStaking protocol , although it has allocated Airdrop to user wallets, it will not be transferable until the end of this year. After zkSync, the most anticipated Airdrop currently is probably the cross-chain protocolLayerZero , which is still in the process of filtering and has not yet announced a clear schedule.
Airdrop is a "popular" keyword today, referring to a project giving away free Token to users who have used and supported it early on. This often happens when the project wants to give control to the community, Token Issuance so users can participate in voting. Sometimes, Airdrop are Chia into multiple phases, and they usually try to avoid giving Token to wallets that have the purpose of “farming” the Airdrop.
Also because of the fertility of this Shard , projects are having a headache with sybil status, which means creating many wallets and then performing basic transaction operations to qualify for Airdrop . From a project perspective, they are constantly looking for ways to identify and exclude these wallets from the allocation list.
LayerZero is a typical example that is actively solving the above problem. The project calls on users with self-reported sybil behavior to retain 10% of the Airdrop Token . According to statistics, there are only about 600,000 valid LayerZero wallets out of a total of 6 million wallets .
Similarly, zkSync also removed some Airdrop farm wallets, but "not significantly", causing a wave of outrage that is still spreading.
There is no denying that Airdrop is a significant profit channel, but the conditions for receiving Token are becoming more and more difficult, even real users can be excluded.
Coin68 compiled
Join the discussion about the hottest issues of the DeFi market in the Fomo Sapiens chat group with Coin68 admins!!!
