🚁 A 2024 Guide to Ethereum Airdrops
Tips and Tools for Maximizing Your Chances of Receiving Ethereum Airdrops in 2023
Hello everyone! For the past few years, by being an Ethereum power user, I got the chance to get rewarded with tons of Airdrop from different protocols on Ethereum, starting with Uniswap Airdrop and followed by 1Inch, Paraswap, DyDx, and many, many more. In this second newsletter, I wanted to share valuable information on how to get future potential Airdrops that could be life-changing opportunities.
Don’t be a farmer
Many users have been farming airdrop, and that has yet to be my strategy. The main reason I got lucky in the past is that I have been an Ethereum power user, and I love to explore, discover and test new things.
Participate in the governance of projects.
Whether the project got a token or not, it is a great idea to participate in the governance and protocols. Developers are getting smarter and understand that farmers will directly dump the project. Put yourself in their skin. Would you instead distribute your token to someone that has made a single 20$ transaction into your smart contract or someone active in the governance of a project similar to yours?
Being active in the community is a net positive for the whole ecosystem, and you will learn so much about how DAOs are structured and how to coordinate in a decentralized way.
An easy way to get started is by going to Snapshot, finding a DAO that you like (ENS, Optimism…), reading through the propositions, and voting with your governance tokens, you will gain so much knowledge by understanding how a DAO governance is structured, and the rabbit hole is bottomless.
Use Centralized Exchanges only for FIAT on/off ramp.
Using centralized exchanges only for on/off ramp might sound evident for you, but only for some. Swapping or staking on centralized exchanges might save a few cents on gas, but it is not worth it in the long run. First, you are losing control over your private, so giving ownership of your funds to a third party similar to a bank. Second, you are losing chances for potential protocols airdrop. Now there is Layer two’s, like Optimism, where you can deposit directly from Coinbase, so there are no excuses.
By using layer two’s, you are a net positive for the development of the whole ecosystem regardless of the chain, and you will probably get rewarded in the future.
If you are a beginner to Ethereum and Layer 2’s, I recommend you do some digging on private keys management and start with a low amount of money you can afford to lose.
The tool for Alpha’s
As I said, being a farmer will not reward you anymore, but there is a cool that I like to use to discover new protocols with no Tokens, you can go to DeFi Llama, and they have a page with tokenless protocols that may airdrop.
DeFi Llama is an excellent tool if you want to discover new protocols. You can filter by TVL (Total value locked into the protocol) and chains.
Before you test a new protocol, please make sure to do your own research. There is plenty of bad actors, so join the community and try to learn about the mechanics.
My top five picks for tokenless Ethereum applications
Zapper Finance
ArbitrumStarknetArgent Wallet
Zerion