Talking about the profits and benefits of DeFi, airdrops are one of the easiest and coolest way to earn huge rewards for just participating and interacting with various DeFi protocols. Many DeFi participants have made thousands of dollars by just receiving airdrops, thus changing their lives.
Well, you could get those airdrops as well and make a decent amount of money without any investment. So how can you do? Well, let’s find out, but first of all, let’s understand what is an airdrop?
What is an Airdrop?
An airdrop is a method of distributing a cryptocurrency when it is launched initially, usually to early adopters of the given platform. For example, Uniswap – a well-known decentralized exchange airdropped 400 UNI tokens to everyone who had interacted with the exchange prior to August 2020. The Uniswap airdrop is currently worth over $10000.
Similarly, various platforms have airdropped their tokens to reward their community and early adopters. Therefore, we’ve curated a list of platforms that currently don’t have their native tokens and are likely to launch tokens and airdrop to early adopters.
To become eligible for these airdrops, all you have to do is head to their website, connect your web-3 wallet and make at least one transaction. So, here we are listing the top 10 platforms that are likely to airdrop soon.
Top 10 Possible AirDrops
Terraswap is a Uniswap-inspired automated market-maker (AMM) protocol started on November 13, 2020. It implements smart contracts on the Terra blockchain which allows a decentralized on-chain exchange for the various assets directly on the Terra ecosystem automatically.
Users can carry out an exchange involving native Terra assets (LUNA, UST, KRT, etc.) and user-defined CW20 tokens using Terraswap as a smart contract interface. Users can become liquidity providers by depositing assets to Terraswap pools, which generate automatic profits.
It is a real-time finance protocol that allows users to stream money. You can use it for anything relating to finance like paying bills, taxes, dues, rent, dividend payments. It functions on Ethereum protocol, leveraging smart contract technology to create a stream that pays the recipient over a course of time.
Sablier Finance allows you to stream money by simply choosing a coin (ETH, DAI, etc), amount, the recipient’s Ethereum address, and how long should the money be streamed. Once you successfully start a stream, you can simply share the streaming link with the recipient and they can withdraw the amount however they wish to. Whether per second, per minute, or the complete amount by the end of the streaming period.
DeFi Saver is a DeFi aggregator platform allowing users to experience all of DeFi on a single dashboard, thus saving time and complexities. It calls itself a one-stop dashboard for creating, managing, and tracking all your DeFi positions.
DeFi Saver also allows users to automate their trade positions, thus managing your leveraged positions from liquidation based on your input in a non-custodial and trustless manner.
Built on the Solana blockchain network, Marinade Finance is a staking solution aimed at easing the process of staking Solana while offering no lockup period, compounded rewards, and DeFi yields.
Marinade Finance makes it easier for users to stake their assets by doing all the work such as choosing the right validators, managing stake accounts, monitoring validators, and automatic rebalancing.
Set Protocol is a DeFi asset management platform built on the Ethereum and Polygon blockchain networks. Set Protocol allows investors to leverage a range of portfolio management tools to maximize their yield and make the best out of DeFi.
The platform boasts of powerful DeFi integration with various protocols and sources liquidity from exchanges, thus offering easy onboarding for all kinds of users – asset managers, methodologies, and newbies alike.
Vires Finance is a liquidity protocol for lending and borrowing crypto-assets built on the Waves blockchain network. It’s a non-custodial and trustless platform allowing users to deposit and borrow crypto assets.
Users can either deposit their crypto assets to earn a passive income by providing liquidity to the protocol or borrow against their crypto collateral in an overcollateralized manner. The platform supports assets such as WAVES, USDT, USDN, EURN, BTC, and ETH. Vires Finance also allows cross-chain transfers of assets across blockchain networks such as Bitcoin, Ethereum, Polygon, and Binance Smart Chain.
Hop Protocol is a cross-chain rollup-to-rollup token bridge allowing users to swap assets from one rollup or sidechain to another. Hop Protocol innovates the cross-sidechain transfer of assets without the need for a waiting network challenge period of two weeks.
The protocol achieves this seamless cross-sidechain transfer by involving market makers known as Bounders who make it available for users to leverage the liquidity on the destination by using an AMM model.
Saddle is a decentralized automated market maker (AMM) on the Ethereum blockchain, optimized for trading pegged value crypto assets with minimal slippage. Saddle enables cheap, efficient, swift, and low-slippage swaps for traders and high-yield pools for LPs.
Built on the Ethereum blockchain network, Saddle Finance allow users to swap wrapped tokens such as Bitcoin on Ethereum network. The platform also allow users to provide liquidity to pools and earn rewards in the form of trading fee.
Waves is one of the two protocols built successfully on a blockchain-based cryptocurrency exchange. It is used for launching smart assets and smart contracts. In 2016, waves exchange was founded in Moscow, Russia.
It has 17 listed cryptocurrencies and 50 pairs. It incurs a transaction fee of 0.001 to 0.004 WAVES. It has a total value locked of $127.95 million and supports 17 crypto assets and 50 pairs to allow for seamless swapping of tokens.
Opyn is a capital-efficient DeFi options trading protocol allowing users to carry out transactions like buying, selling, and creating Ethereum-based options. It is also known as DeFi’s Option Protocol letting users to hedge with options to reside risk.
The platform also allow users to leverage their positions in a trustless and non-custodial manner. It has over $1.83B notional volume traded, 37,081 Options trades, and 18 Active Options.
Written by: Narender Charan