Having high confidence in a single airdrop actually means putting all your trust in one project/founder.
Written by: CC2 (Revanchist Arc)
Translated by: DeepTechFlow
Here is the updated list of most of the airdrops I am still participating in.
L2 Scroll
- Trading on different dApps every week, aiming to use at least 20 different dApps and achieve over $100,000 in trading volume until the airdrop is distributed. The team actively listens to feedback, and Vitalik is optimistic about this project. Despite being very popular and "overmined," I feel good about it.
Liquidswap/Pontem/Lumio
- Bridging ETH to Lumio and earning 4 badges. The main task now is to trade 2-3 times weekly on Liquidswap and provide some liquidity. Aptos' exposure is also high as the team listens to community feedback.
Orderly (+ LogX)
- Pushing for at least $300,000 in weekly trading volume. Not recommended for players with small amounts of funds. I am doing this because I see the end of the project and the mining opportunities on perpetual DEX are attractive.
Zora
- Minting 2-3 times per month. It is important to create your own collection and have people mint it. The profits from the $ENJOY airdrop have already covered ten times all costs.
zkSync
- Mainly using ZyFi on zkSync, occasionally using Syncswap and Bebop. Just to stay active, and the fees are very low.
Linea
- It seems that TX utilization has ended. I only spent a few hundred dollars to buy Linea Surge. The sunk cost fallacy (might as well keep going).
Cross-Chain Interoperability
Hyperlane is currently the most confident choice in the interoperability field. But LayerZero used to be, so please be cautious about this. I like their modular approach and customizable security. It can currently connect to any EVM or Cosmos chain, with lower fees and faster speed, making it more advantageous than its well-funded competitors. Technically, interoperability projects are the "missing pieces" of all L1/L2/L3, but the market does not seem to value these projects (at the moment). The most important thing may be to use their flagship bridge: https://usenexus.org.
Jumper touches 10 chains monthly and tries to use it when exchanging tokens. The product-market fit is good, the funding is sufficient, and the dApp performs well. However, with over 1 million wallets, it means it is "overmined."
Bungee (+Zapper) is similar to Jumper but covers slightly fewer chains. They are building a lot (not a joke, check Socket Twitter). Zapper hinted at token issuance today, but I am still using it because it is also supported by Socket.
Mayan Wormhole still retains the second airdrop share. Mayan is an excellent EVM>Solana bridge without overcomplication.
Squidrouter has raised a lot of funds and is somewhat low-key. I like using it to bridge into/from Scroll and Base, using it less compared to other interoperability projects.
deBridge When you mine on deBridge, you are mining an ICO. Burning to earn airdrops has not been disappointing so far, so I might participate to some extent (without overcommitting).
Orbiter has been consistently used for years. Frankly, Orbiter has a high product-market fit (PMF) due to its smooth user interface and user experience. When I am lazy to operate, I use Orbiter because it is simple, reliable, and fast. Although I am conservative about their airdrops, the results are still unpredictable.
Cross-Chain Interoperability - Lower Level
ZetaChain #2 ranks lower because it has already had one airdrop. Getting weekly XP is very cheap and fun, so why not?
Magpie "April TGE" did not materialize, so it is bearish. Still pushing some trades because it qualifies me for Wormhole. Although Jumper has participated in 500 projects, I still choose to join.
Rango "Profile" tag is not working properly, bearish. Not sure if they track activities. My usage is very mild. The benefit is: available on many chains, increasing unique dApp usage (e.g., for Scroll).
Zerion raised $22 million. I bought the cheapest NFT and now only do one exchange and bridge per month. They charge a 0.725% fee, which is too expensive. If you seriously consider eligibility, you should also use their wallet and other products. Maybe they will copy MM, but they will never issue tokens.
Solana
Tensor Szn #4 has had amazing airdrop effects since early 2023. It may be successful again, but NFT trading is very PVP. Not recommended for those not well-versed in this area (easy to lose all funds).
PhoenixTrade makes a limit order trade every other day on one wallet. Drift also operates this way, with huge returns. Solana airdrops = good.
Backpack Exchange trades 2-3 times daily, only exchanging Meme coins. Backpack has deep connections, and you can always recoup your costs in the ecosystem airdrops (Wormhole, Pyth, Tensor, etc.).
Liquidity-Based
Sanctum + Meteora is a good 2+1. Not a Jito clone, but if you have a large enough scale, it is a very comfortable farm with Solana price exposure. Meteora has overlapping Jupiter team members.
Elixir looks good for perpetual mining opportunities. Trading pairs provide decent returns (15-20%) with BTC/ETH exposure.
Ambient (mainly on Scroll) has frequent building activities (not Meme). Because it's on Scroll, it feels comfortable, and maybe there's some Berachain angle.
Zircuit was initially highly regarded because it is L2, but then realized that everyone is now building L2. Still worth getting: Zircuit, Eigen #2, LRT of choice, ETH exposure + returns.
MarginFi took too long to launch its own token, so the market will not be too generous. I am still in it because I am lazy to repay loans and withdraw. The possibility of Kamino's replication is much greater than Jito's. *If you deposit INF, you will qualify for 3 airdrops.
Main Focus
Scroll, Hyperlane, Jumper, Liquidswap, Tensor, Elixir, Sanctum + Meteora, Zircuit combined into a four-in-one toy, maybe even Bungee. I will also add Ambient, but it may be disappointing for most people because it is linear.
Many airdrop projects I am working on will inevitably:
Becoming worthless due to poor execution/lack of product-market fit
Airdrops taking too long, also referred to as "time scams"
But some of them will also:
Bring in returns more lucrative than expected (similar to Jito, Wormhole, Manta Galxe)
Indirectly qualify for other airdrops (results include: Avail, zkFair, Celestia)
Having high confidence in a single airdrop actually means putting all your trust in one project/founder, relying on their proper execution and a large number of additional variables (hoping to receive their favor). That's why the "Spray and Pray" strategy (broadly participating in multiple projects, hoping to gain significant returns from them) works best for me. "Consistently" earning a few thousand dollars here and there until it accumulates into a large sum and reaches critical mass.
As a result, you can now focus more on a few projects (whether through more trades or liquidity) while still maintaining the activity of your "Spray and Pray" strategy.
Researching the term "airdrop snowball" is equivalent to "compounding" in traditional finance. Although Meme far exceeds airdrops in returns, it is still the best way to acquire capital, especially in terms of risk-adjusted returns, especially for those starting with only a few hundred dollars.
The right approach is:
Start participating in airdrops immediately after realizing that this particular area is still inefficient, following Arbitrum.
Strive to earn hundreds of thousands of dollars in airdrop returns.
Continue participating in airdrops while allocating some funds to Meme for "long-term investment."
This does not mean ending airdrops if you have not been capitalized. It simply means that the market has become extremely saturated and competitive, with many examples of failure leading to "dust-like drops," and teams are also taking advantage of airdrop frenzy.
The market has become more efficient, and the advantage in this particular area has been weakened, resulting in lower investment returns.
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