Inventory of recent airdrop projects that deserve continued attention

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Original author: CC 2 (Revanchist Arc)

Original translation: TechFlow

Here is an updated list of most of the airdrops I have been running so far.

L2 Scroll

  • Trade on different dApps every week, aiming to use at least 20 different dApps and achieve over $100k in trading volume until the airdrop. The team actively listens to feedback, and Vitalik is bullish on the project. I feel good about this project, even though it is very popular and overmined.

Liquidswap/Pontem/Lumio

  • Bridged ETH to Lumio and received 4 badges. The main task now is to swap 2-3 times a week on Liquidswap and provide some liquidity. Aptos is also gaining a lot of exposure while the team listens to community feedback.

Orderly (+ LogX)

  • Driving at least $300,000 in trading volume per week. Not recommended for players with small amounts of capital. I did this because I saw the end of the project and the mining opportunity on the perpetual DEX was attractive.

Zora

  • Mint 2-3 times a month. It is important to also create your own collectible and let people mint it. The proceeds from the $ENJOY airdrop are already enough to cover all expenses ten times.

zkSync

  • Mainly using ZyFi on zkSync, with occasional Syncswap and Bebop. Just to keep things active and very low fees.

Linea

  • TX Exploitation seems to be over. I just spent a few hundred dollars on Linea Surge. Sunk Cost Fallacy (might as well go all the way)

Cross-chain interoperability

  • Hyperlane is currently the most confident choice in the interoperability space. But LayerZero was, too, so take that with a grain of salt. I like their modular angle and customizable security. Can currently connect to any EVM or Cosmos chain, and has lower fees/faster speeds, which gives it an edge over better funded competitors. Technically, interoperability projects are the pick-up for all L1/L2/L3, but the market doesnt seem to value these projects (yet). The most important thing is probably using their flagship bridge: https://usenexus.org.

  • Jumper touches 10 chains per month and tries to use it when exchanging tokens. Product-market fit is good, funding is sufficient, and dApps are performing well. However, there are more than 1 million wallets, which means over-mining.

  • Bungee (+Zapper) Similar to Jumper, but with slightly less coverage. They are building a lot (no joke, check out the Socket Twitter). Zapper hinted at a token launch today, and I’m still using it since it’s also powered by Socket.

  • Mayan Wormhole still has a share of the second airdrop. Mayan is an excellent EVMSolana bridge without overcomplicating it.

  • Squidrouter has raised a lot of money and is somewhat under the radar. I like using it for bridging into/from Scroll and Base, and its less used than other interop projects.

  • deBridge When you mine on deBridge, you are mining an ICO. Burn to Earn airdrops have not disappointed so far, so I will probably participate to some extent (without overcommitting).

  • Orbiter has been used for many years. Frankly speaking, Orbiter has a high product market fit (PMF) due to its smooth UI and UX. When I am too lazy to operate, I use Orbiter because it is simple, reliable and fast. Although conservative about their airdrops, the results are still unpredictable.

Cross-chain interoperability – lower level

  • ZetaChain #2 is ranked lower because it has already had an airdrop. Getting weekly XP is cheap and fun, so why not?

  • Magpie April TGE failed to materialize, so bearish. Still pushing for some trades as this qualifies me for Wormhole. Jump is in even though its 500 projects, Im still in.

  • Rango profile tab doesnt work properly, bearish. Not sure if they track activity. Very mild usage on my part. Upside: available on many chains, increased unique dApp usage (e.g. used for Scroll).

  • Zerion raised $22 million. I bought the cheapest NFT and now only do swaps and bridges once a month. They charge 0.725% which is way too expensive. If you are serious about qualifying, you should also use their wallet and other products. Maybe they will copy MM but will never issue a token.

Solana

  • Tensor Szn #4 Airdrops have been amazing since early 2023. Might be successful again, but NFT trading is very PVP. Not recommended for people who are not well versed in the field (its easy to lose all your funds).

  • PhoenixTrade does a limit trade every other day on a wallet. Did the same with Drift, huge returns. Solana airdrop = good.

  • Backpack Exchange does 2-3 trades per day, exchanging only Meme coins. Backpack has deep connections, and you can always get your fees back in ecosystem airdrops (Wormhole, Pyth, Tensor, etc.).

Based on liquidity

  • Sanctum + Meteora is a good 2+ 1. No Jito replication, but if you have enough scale, this is a very comfortable farm with Solana price exposure. Meteora has Jupiter team member overlap.

  • Elixir is optimistic about the perpetual mining opportunity. Trading pairs offer good yields (15-20%), with BTC/ETH exposure.

  • Ambient (mostly on Scroll) Highly active in building (not Meme). Because its on Scroll, it feels comfortable, and maybe theres some kind of Berachain angle.

  • I was very bullish on Zircuit at first because it was L2, but then realized that everyone is building L2 now. Still worth getting: Zircuit, Eigen #2, LRT of choice, ETH exposure + income.

  • MarginFi It took them too long to launch their token, so the market wont be too generous. Im still in it because Im too lazy to pay back the loan and withdraw. Kamino is much more likely to be copied than Jito. *If you deposit INF, you will be eligible for 3 airdrops.

Main focus

Scroll, Hyperlane, Jumper, Liquidswap, Tensor, Elixir, Sanctum + Meteora, Zircuit combined into a 4-in-1 toy, and maybe Bungee. I would also add Ambient, but it would probably be disappointing to most people because its so linear.

Many of the airdrop projects I’m working on will inevitably:

  • Worthless due to poor execution/no product-market fit

  • The airdrop time is too long, also known as time scam

But some of them will also:

  • Brings bigger rewards than you expected (similar to Jito, Wormhole, Manta Galxe)

  • Indirect eligibility to participate in other airdrops (results include: Avail, zkFair, Celestia)

Having high confidence in a single airdrop actually means you are placing all your trust in one project/founder and relying on them to execute correctly as well as a ton of additional variables (hopefully on their behalf). This is why the “Spray and Pray” strategy (participating widely in multiple projects in the hope of getting some significant returns from them) works best for me. “Continuously” earning a few thousand dollars here and there until it eventually builds up to a large sum and reaches critical mass.

The result is that you can now focus more closely on a handful of projects (either through more trading or liquidity) while still keeping your “Spray and Pray” strategy active.

Researching the term “airdrop snowballing” is the traditional financial equivalent of “compound interest.” While Meme far exceeds airdrops in terms of returns, it is still the best way to acquire capital for someone starting with only a few hundred dollars, especially in terms of risk-adjusted returns.

The correct way is:

  • Immediately after realizing that this particular area was still inefficient, I started participating in airdrops following Arbitrum.

  • Strive to obtain hundreds of thousands of dollars in airdrop benefits.

  • Continue to participate in airdrops, while investing a portion of your funds in Meme for “long-term investment.”

This doesn’t mean that airdrops are over if you haven’t been capitalized yet. It just means that the market is becoming extremely saturated and competitive, there are many failed examples along the way that have led to “dust dropping”, and teams are taking advantage of the airdrop craze.

The market has become more efficient and the advantages in this particular area have been eroded, resulting in lower returns on investment.

This article is sourced from the internet: Inventory of recent airdrop projects that deserve continued attention

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