Author: Peng SUN, Foresight News
The 2024 airdrop season has started. In addition to potential big players such as Cosmos, EigenLayer, Renzo, and Berachain, Foresight News has selected more than 10 recent airdrop projects that are worth paying attention to, covering Layer2, DeFi, Sui, Bitcoin, wallets, RWA, Cosmos game chains, and other fields. Let's see which participation opportunities you still have in these projects?
OP Mainnet
Community user OP Michael stated that before April 2023, perhaps 20 million OPs will be used for airdrops. Currently, 3 airdrops have been made, with a total of 19,411,313 OPs.
And getting the fourth OP airdrop may still require delegating OP to an active delegator. But at the same time, since the last airdrop was completely focused on OP staking, the 4th airdrop may also use other criteria, such as interacting with OP Mainnet mainnet, Base and Zora, and other OP superchains.
Scallop
The Sui ecosystem has experienced explosive growth in the past six months, with a TVL of over $300 million, surpassing Bitcoin to become the third largest non-EVM chain. SUI also had a strong surge some time ago, reaching a maximum of 1.45 USDT on January 15.
For an interpretation of the Sui ecosystem, see Haotian: (Behind Sui's brilliance: the 'blood advantage' of the Move series of public chains and the new DeFi ecosystem that is expected to explode).
Scallop is a lending protocol on Sui and a project on Sui that has recently announced an airdrop. Scallop's TVL is currently $61.4 million, ranking first in the Sui ecosystem. It is also the first DeFi project to receive funding from the Sui Foundation, and has received investment from Comma 3 Ventures and OtterSec, among others.
Scallop's SCA tokens can be used for governance and voting, liquidity mining, and discounts on lending interest fees. The total supply of SCA is 250 million, 45% of which is used for liquidity mining, 18.5% is allocated to Scallop project contributors, 4% is used for development and operations, 2% is allocated to advisors, 11% is allocated to strategic partners, 7.5% is allocated to the ecosystem/community/market, 5% is used for liquidity, and 7% is allocated to the treasury.
On January 1, 2024, Scallop launched the airdrop points system and completed the first phase snapshot to reward early supporters of Scallop. Users can earn points based on their activity and participation in Scallop, and can use points to generate Mysterious Pearls. Mysterious Pearls are divided into different levels such as bronze, silver, gold, platinum, diamond, and legend. After the token is launched, you can claim the airdrop.
However, the value of the second phase airdrop seems to be higher. The project team stated that the points in the first phase are different from the points in the second phase, and the number and value of pearls that can be exchanged in the two phases will also be different. At the same time, most of the airdrops will be rewarded to second phase users. Scallop has started the second phase airdrop on January 16, which will last for 2 weeks.
First, qualified borrowers on Scallop with a time-weighted value greater than $100 before the second phase airdrop can receive points rewards;
Second, from January 16, users who provide liquidity and lending on Scallop during the second phase will also receive points. Snapshots will be taken daily, and points will be updated every 48 hours;
After the event, users can redeem mysterious pearls with their points.
In addition, Scallop was migrated from Solana to Sui. Early Solana voters and NFT holders of the Scallop DAapp will be rewarded separately, but they will not be able to participate in Scallop's mysterious pearls.
NAVI Protocol
NAVI Protocol is also a lending protocol on Sui. Its TVL is currently $54.55 million, second only to Scallop and ranking second. NAVI Protocol is one of the projects in the 4th phase of the OKX Web3 wallet Cryptopedia. On December 8, the OKX Web3 wallet also launched the NAVI interest rate hike event, attracting a large amount of liquidity.
NAVI Protocol has not yet announced airdrop details, but it has launched a Leaderboard that distributes points to users weekly based on the total liquidity provided, borrowing volume, weekly activity, and Zealy points. According to the roadmap, NAVI Protocol's utility and governance tokens NAVI will be released in the first and second quarters of 2024.
StakeStone
Recently, led by EigenLayer, AltLayer, and Renzo, LST and LRT have become a hot topic again. In this field, another project worth paying attention to is StakeStone.
StakeStone is a one-stop full-chain LST staking protocol, benchmarked against Lido, which can bring native staking revenue and liquidity to Layer2. It not only supports head staking pools, but also supports re-staking and will integrate EigenLayer. StakeStone supports ETH beacon chain re-staking and LST re-staking, and aims to become the leading protocol in the re-staking track.
According to DefiLlama data, from December 15, 2023 to January 3, 2024, in just 3 weeks, StakeStone's TVL skyrocketed from $4.17 million to $542 million, and its current TVL is $710 million. StakeStone also deeply participated in Manta's incentive activities. StakeStone provided $720 million in liquidity in Manta New Paradigm's $900 million TVL.
StakeStone's native LST is STONE, which has been officially upgraded to a full-chain LRT. STONE is an OFT based on LayerZero that can be seamlessly used in multi-chain liquidity markets through STONE-Fi, such as DEX, AMM, lending, stablecoins, derivatives, GameFi, SocialFi, and more. STONE does not use a rebase mechanism, but is similar to Lido's wstETH in terms of generating revenue. In other words, the number of STONEs will not change with the revenue generated from ETH staking, but its value will increase with the increase in ETH staking revenue.
StakeStone has not yet issued a token, and the team is expected to launch airdrop-related activities. Currently, users can stake ETH in StakeStone and earn revenue from the STONE-Fi ecosystem protocol.
Kelp DAO
In the re-staking track, another popular project is Kelp DAO, which is also a multi-chain liquidity staking platform. Its founder previously founded the liquidity staking protocol Stader Labs, and Stader is the second largest LSD protocol on Polygon and BNB Chain. According to DefiLlama data, Kelp DAO's TVL is currently $167 million.
Kelp DAO is currently building an LRT solution on EigenLayer. Its re-staking token is rsETH, and the currently supported LSTs include ETHx (Stader), sfrxETH (Frax), and stETH (Lido). Users can re-stake the above assets in exchange for rsETH. The price of reETH is currently the base price of various rewards and staked LSTs. rsETH can be used in other DeFi protocols.
Currently, Kelp DAO has launched Kelp Miles incentives. Kelp Miles are used to track users' contributions to Kelp and to determine the future distribution ratio of rewards. Kelp Miles depends on the user's LST re-staking amount and staking days. Users who previously staked LST from December 12, 2023 to January 1, 2024 can receive 1.25x Kelp Miles within the next 3 months. Users who stake LST after January 1 will receive Kelp Miles rewards as usual.
In addition, all users who re-stake on Kelp before the EigenLayer deposit cap is closed are eligible for EigenLayer Points, which will be distributed based on the number of LSTs users deposit.
Kinza Finance
Kinza Finance is a decentralized lending protocol on BNB Chain that uses the ve(3,3) model to address protocol incentives and governance issues, allowing users to withhold collateral from borrowers, limiting transaction risk, shorting opportunities, and governance manipulation. Kinza's core revenue comes from interest paid by borrowers, and most of the interest is paid to the lenders who initially provided liquidity. Kinza's native token is KZA, and users can stake KZA in exchange for xKZA, which can be used to vote and bribe for liquidity pools. The xKZA, bribery, and voting functions will be launched after the TGE.
According to DefiLlama data, Kinza Finance's TVL has increased from $1.89 million on November 1, 2023 to a maximum of $78.06 million on January 15, 2024, and is currently $64.26 million.
In August 2023, Kinza Finance received investment from Binance Labs as one of the best performing projects in the 6th season of the MVB Accelerator Program. It is worth noting that in this season of the MVB Accelerator Program, the other 3 projects invested by Binance are the Ethereum expansion project AltLayer, the perpetual DEX project KiloEx, and the AI-based blockchain virtual companion game Sleepless AI. Currently, Binance Launchpool has launched AltLayer and Sleepless AI.
The total supply of KZA is 100 million. The KZA airdrop will take place after the TGE (date not yet announced), and the team will allocate 5% of the total supply of KZA (5 million) for the airdrop. In addition, 10% of the total supply of KZA will be allocated to the team, 12% to investors, 3% to advisors, 5% to reserves, 10% to the ecosystem, and 55% to the community.
Kinza has now launched an airdrop points system, which will calculate the amount of future airdrops that can be obtained based on the TVL deposited and the length of time it provides liquidity in the protocol. The longer the liquidity provided by the user, the more points they earn, and the more qualified airdrops they generate. Points are not exchanged 1:1 with KZA. Kinza has provided an additional 10% reward for users who provided liquidity before the launch of the airdrop points system. New participating users can participate in Kinza's airdrop referral program, and both the referrer and the referred user will receive 10% of the referred user's airdrop distribution.
KiloEx
KiloEx is a perpetual DEX project on BNB Chain, opBNB, and Manta. According to DefiLlama data, KiloEx's TVL is currently $14.51 million.
KiloEx's native token is KILO, and its escrow token is xKILO. The total supply of KILO is 1 billion, of which 10% will be airdropped to early adopters, 34% will be allocated to the ecosystem, 10% will be used for staking rewards, 20% will be allocated to the team, 10% will be allocated to private sales, 10% will be allocated to strategic investors, 5% will be allocated to advisors, and 1% will be allocated to liquidity providers.
KiloEx has now launched the points airdrop program V1.0. Points can be obtained on the three mainnets of BNB Chain, opBNB, and Manta by trading, wealth management, inviting new users, signing in, and obtaining OAT, etc. KiloEx Genesis NFT holders can receive xKILO token airdrops.
ZeroLend
ZeroLend is the largest native stablecoin lending protocol on zkSync and the third largest on Manta Network, with a total TVL of $22.23 million. ZeroLend is based on Aave V3, similar to Radiant Capital, supports account abstraction, provides ONEZ stablecoins, and will support RWA lending in the second quarter of 2024. It plans to integrate zkSync Hyperchain's privacy layer in early 2025 to complete transaction privacy in compliance.
According to official documents, the total supply of ZeroLend's native token ZERO is 100 billion, of which 30% is allocated to private sales, 10% is used for liquidity, 5% is allocated to the team, 10% is allocated to the treasury, 7% is allocated to advisors, 3% is used for airdrops, and 35% is used for community incentives.
ZeroLend has now launched the airdrop points platform Zero Gravity, where users can earn points by participating in on-chain interactions or inviting new users. The initial supply of ZeroLend tokens ZERO is approximately 10% to 18% of the total supply (official documents show 18.8%), of which 1% to 2% will be used for airdrops, accounting for approximately 10% of the circulating supply at launch.
In addition, ZeroLend stated that users participating in Zero Gravity are also eligible to participate in future possible airdrops such as PYTH, MANTA, and ZKS.
Halo Wallet
Halo Wallet is a DeSoc wallet developed by KuCoin's former Web3 team, and has now been integrated with Lens Protocol to access users' social graphs and analyze on-chain transactions.
Halo Wallet has launched the XP points system. Users can earn points by purchasing Genesis Pass and participating in wallet transactions, recharges, likes, etc. Points will be linked to future airdrops, and the airdrop plan is expected to be announced in the first half of the year.
Bool Network
BOOL Network is a decentralized signature protocol founded at the end of 2020. The team has been researching Bitcoin Layer2 solutions and published an academic paper in 2022, Bool Network: An Open, Distributed, Secure Cross-Chain Notary Platform.
BOOL Network is worth paying attention to because the project may be the same team as SatoshiVM, which recently conducted an IDO on Bounce, and the price of SatoshiVM's SAVM IDO has increased by nearly 300 times.
After community users discovered the relationship between SatoshiVM and BOOL Network, BOOL Network stated on Twitter, "The team is working closely with the SatoshiVM team to develop infrastructure in the Bitcoin and EVM fields. BOOL has not been issued yet, and there are no airdrops. However, we are closely monitoring all activities of partner projects, including SatoshiVM, to identify a good holder base."
Currently, according to the white paper on GitHub, the maximum supply of BOOL Network's native token BOOL is 1 billion, and the initial supply is 500 million. Among them, 3% of BOOL tokens will be used for airdrops, 50% will be allocated to miners (nodes), 12% will be allocated to the team, 15% will be allocated to investors, 10% will be allocated to the foundation, and 10% will be used to incentivize testnet users. BOOL can be used for Gas fees, governance and staking.
Tabi
Tabi (formerly Treasureland) is an NFT marketplace on BNB Chain, and recently announced that it will launch a game blockchain Tabi Chain with EVM compatibility on Cosmos, and the testnet will be launched in February this year. According to Tabi, Tabi Chain has features such as Omnicomputing, parallel sharding, supervisory sharding (the integrity of the game experience is maintained by Tabi supervisory nodes), and Tabi Runtime.
In 2023, Tabi completed a $10 million angel round of financing, with investors including Animoca Brands, Binance Labs, Draper Dragon, HashKey Capital, Infinity Ventures Crypto and Youbi Capital, and individual investors including Feng Bo (Dragonfly), Riyad AD (Saudi Arabia) and Suji Yan (Mask Network). This round of financing will be used to develop Tabi's gaming ecosystem and the upcoming on-chain identity protocol.
Tabi's official website has launched 4 issues of Voyagers Event, and its official Twitter said that completing the series of tasks will give you access to airdrops.
Ondo Finance
Ondo Finance is an RWA tokenization investment protocol that has launched tokenized funds, allowing stablecoin holders to invest in bonds and US Treasury bonds. It currently offers three products: US Government Bond Fund (OUSG), Short-Term Investment Grade Bond Fund (OSTB), and High-Yield Corporate Bond Fund (OHYG). Last year, Ondo launched USD Yield (USDY), a tokenized note secured by short-term US Treasury bonds and bank demand deposits. Currently, Ondo has expanded to Polygon, Solana, and is listed on Coinbase.
In April 2022, Ondo Finance completed a $20 million Series A financing round, led by Founders Fund and Pantera Capital, with participation from Coinbase Ventures, Tiger Global, GoldenTree Asset Management, Wintermute, Flow Traders, Steel Perlot and an Ivy League endowment fund. Shortly thereafter, Ondo raised $10 million through a token sale on CoinList, with over 18,000 participants.
According to CoinGecko data, the total supply of ONDO is 10 billion, the circulating supply is about 1.44 billion, and the market value is about 390 million US dollars.
Recently, the Ondo Foundation launched the first batch of Ondo Points Program, which is now online with a points leaderboard, supporting the use of Flux, holding OUSG or USDY to get retrospective points, and minting USDY for extra points, and holding mUSD on Mantle Network to get points, etc.
Ondo Finance also supports providing USDY liquidity on Uniswap on Ethereum through Range Protocol, or providing liquidity on FusionX or Agnidex through Range Protocol on Mantle, or providing liquidity on Orca or Raydium on Solana through Kamino to earn points, and also supports borrowing stablecoins over-collateralized by tokenized US Treasury bonds from Ondo Finance and earning points, etc. Earning points can also be earned by delegating ONDO or voting on proposals. CoinList buyers who claim ONDO before March 31 will earn more points based on their staking.
In addition, Ondo will also launch the second batch of points program, which will cooperate with new projects and may provide retroactive airdrops to the community.
