Jito is fierce—don't miss these other 5 Solana ecosystem projects that may airdrop
TechFlow Selected TechFlow Selected
Jito is fierce—don't miss these other 5 Solana ecosystem projects that may airdrop
Solana's airdrops stand out due to their significantly lower transaction fees.
Navigating Web3 tides with focused insightsAuthor: Subhashish C.
Translation: Shan Oba, Golden Finance
We are entering a major airdrop season on the Solana network, and here is a list of upcoming airdrops. We will examine each project individually to understand how to qualify for these airdrops.
With potential airdrop values reaching up to $110,000, investors and enthusiasts within the Solana ecosystem need to stay informed about these airdrops and learn how to fully leverage this open opportunity.
But first, what makes these airdrops on Solana so special?
When comparing Solana airdrops with those on Ethereum and Arbitrum, you must pay very high gas fees to qualify for these major project airdrops. This means that if you plan to interact or trade on decentralized exchanges, you'll have to bear extremely high transaction costs to become eligible. However, Solana's airdrops stand out due to their significantly lower transaction fees. This cost efficiency makes it much easier for more users to participate in Solana airdrops.
Understanding the Solana Ecosystem
DEX Activity
First, let's explore Solana’s data and why there are so many potential airdrop opportunities on Solana. Let’s begin with DEX activity. Last week, we saw around $2.14 billion in trading volume on decentralized exchanges—a positive sign and bullish indicator showing that many people are actively using the network. We can also see that certain projects are performing exceptionally well.
Essential Tools for Navigating the Solana Network
Navigating the Solana network and optimizing airdrop participation requires familiarity with certain tools and platforms. Let’s look at some useful tools that help you explore the Solana ecosystem.
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Solana Scan
This tool is essential for tracking transactions, blocks, and tokens, providing transparency and insight into network operations—very similar to any blockchain explorer.
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Bird Eye
Bird Eye functions similarly to CoinMarketCap, offering an overview of trending tokens on the Solana network. You can view all currently trending tokens on Solana. More importantly, you can also track profitable traders and large transactions on the Solana network, allowing you to see what major whales are doing.
Key Airdrops in the Solana Ecosystem and Participation Strategies
Let’s start with the first airdrop:
1. Phantom
Phantom is a web and mobile wallet for the Solana network. Setting up a Phantom wallet is a fundamental step in participating in Solana airdrops. As a wallet tailored specifically for Solana, Phantom facilitates asset management and interactions within the ecosystem.
Link: https://phantom.app/
Steps:
1. Create a Phantom wallet;
2. Swap tokens directly through Phantom;
3. Unlock DRiP Phantom Solana collectibles.
2. MarginFi: Boosting SOL Staking Yields
Link: https://app.marginfi.com/
MarginFi offers multiple features such as borrowing, lending, and yield enhancement. Participating in these activities may make users eligible for its airdrop.
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Lend on MarginFi;
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Borrow on MarginFi;
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Stake SOL as LST;
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Refer other users to use MarginFi;
3. Drift Protocol: Leverage and Liquidity on Blockchain
Link: https://app.drift.trade/
Drift Protocol enables leveraged trading and lending functions. Trading on Drift and providing liquidity can make users eligible for its airdrop events. This is actually very useful because it’s a decentralized exchange. Therefore, you can trade on Drift without facing any barriers or regulations. You can trade Bitcoin or even Solana on the Drift Protocol. Let’s look at the criteria you need to follow:
1. Connect your wallet to Drift Protocol.
2. Trade on Drift Protocol.
3. Provide liquidity to Drift Liquidity Providers (DLP).
4. Stake assets in the Drift Insurance Fund Vault.
5. Borrow assets on Drift.
6. Refer Drift to other users.
You only need to invest a small amount—even just two to three dollars—to qualify for any potential airdrop.
4. Jupiter: Comprehensive DEX Aggregator
Link: https://jup.ag/
Jupiter is an all-in-one trading platform offering options such as swaps, limit orders, and dollar-cost averaging (DCA). Actively engaging with Jupiter’s features may make users eligible for its airdrop program.
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Perform swaps on Jupiter (applies to all swaps).
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Set limit orders on Jupiter.
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Use DCA on Jupiter.
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Use Jupiter’s bridge aggregator.
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Trade perpetual contracts on Jupiter.
5. Tensor: NFT Marketplace and Points System
Link: https://www.tensor.trade/
Tensor is an NFT marketplace similar to Blur, featuring an ongoing points system for participation in NFT-related activities. Here are the steps to follow:
1. List NFTs from top 100 collections;
2. Place bids on NFTs from top 100 collections;
3. Market make NFTs from top 100 collections;
4. Purchase and hold a Tensorian NFT.
Exploring Other Projects
There are numerous projects in the Solana ecosystem, such as DRiP, Kamino, Zeta, Mayan Finance, and Phoenix Trade, each offering unique airdrop opportunities. Participation requirements vary, covering a range of activities from trading and staking to cross-chain swaps.
Below are all potential airdrops you might also want to try. These steps aren't highly specific but may require additional actions when they launch.
DRiP
Link: https://drip.haus/vault
1. Subscribe to creators and earn collectible NFT drops;
2. Connect your wallet to drip.haus;
3. Subscribe to multiple creators and claim drops;
4. Send “thank you” to creators and collect legendary drops.
Kamino
Link: https://app.kamino.finance/
Borrowing, lending, yield vaults, and leveraged yield farming.
1. Deposit into vaults.
2. Create a vault.
Zeta
Link: https://dex.zeta.markets/trade/SOL-PERP
A DeFi perpetual contracts exchange with an order book.
1. Deposit to Zeta.
2. Trade on Zeta to increase your "Z-Score".
Mayan Finance
Link: https://swap.mayan.finance/
1. Cross-chain swap auction protocol using Wormhole.
2. Use Mayan to bridge from EVM chains to Solana.
3. Use Mayan to bridge from Solana to EVM chains.
Phoenix Trade
Link: https://app.phoenix.trade/
1. On-chain order book exchange.
2. Trade on Phoenix.
3. Place limit orders on Phoenix.
How to Maximize Your Airdrop Rewards
Diversify Your Participation
Interacting with multiple projects on the Solana network can significantly increase your chances of benefiting from various airdrops. Each project has unique eligibility criteria, often involving trading, staking, or utilizing specific network features.
Thoroughly understand the participation requirements for each project. Whether it's staking SOL, participating in DeFi protocols, or trading on DEX platforms, knowing which actions qualify for airdrops can optimize your strategy.
Additionally, Solana’s low transaction fees are a significant advantage. Participating in multiple projects and trades becomes more feasible, enabling users to maximize involvement without incurring high costs.
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