Editing and additional information by Michael Mislos. Updated February 6, 2024. (To go to the updated section, click here. New readers should start reading the article from the beginning.)
Solana is an open-source blockchain built by Solana Labs in 2017 that aims to be the home of dApps in the web3 ecosystem. In this article, we look at the possible Solana airdrop that will happen across its ecosystem.
- 10 Potential Crypto Airdrops 2024 to Watch Out for in 2024
- Solana Airdrop Checker Tool To Check If Your Wallet is Eligible
- BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins
Table of Contents
Short Introduction to Solana
Compared to its rival blockchains, Solana is implementing a Proof-of-History (PoH) consensus mechanism while still using a Proof-of-Stake (PoS) consensus mechanism. This hybrid mechanism on the network produces faster transaction processes with lower fees.
Solana’s efficiency and speed have made it an attractive hub for various web3 projects, including decentralized exchanges, blockchain games, and numerous other dApps. To learn more about Solana, its native token $SOL, and how to purchase and stake $SOL in the Philippines, refer to our comprehensive guide.
Solana Airdrop Ecosystem
A key growth strategy for dApps on the Solana network is the distribution of tokens through airdrops, a method aimed at attracting a larger user base.
What is a Crypto Airdrop?
Generally, an airdrop is a way for newly launched projects to attract more web3 natives to try their platforms or introduce their tokens.
Airdrops in the crypto world are akin to receiving a voucher for signing up for promotional materials from a new store; they serve to introduce and promote the brand while encouraging patronage. Crypto airdrops follow a similar approach, offering free tokens, NFTs, and digital collectibles for simple tasks, thereby increasing platform engagement and trust.
These minimal tasks include:
- sharing their social media accounts,
- making a review of the project’s website and services,
- signing up for a newsletter,
- using the project’s products or features
- trading on DEXs, or
- holding or staking a specific crypto for a specific period.
How to Frontrun or Get Ready to Participate in Solana Airdrops
One of the ways to be among the frontrunners of enjoyers of potential airdrops on its ecosystem is to start using Solana-based and Solana-compatible wallets, like Phantom (https://phantom.app/) and Solflare (https://solflare.com/).
- Read more about: Top Crypto Wallets With No Tokens Yet | Airdrop Soon?
Moreover, BONKbot, a Telegram trading bot on Solana, can also be used and can be utilized to earn points and engagements for potential airdrops in the future on the Solana ecosystem.
- Learn how to use BONKbot with our guide: BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins
Finally, most of the users become eligible to the airdrops if they use the project’s products before the airdrop is announced. So armed with the Phantom Wallet, and some $SOL tokens, you can begin exploring the Solana projects below:
Solana-Based Projects With Upcoming or Potential Airdrop
This portion of the article is updated on February 6, 2024.
Let’s now take a look at Solana-based projects which either have confirmed or potential airdrops in the future.
With the eye-catching tagline “Make Solana Liquid Again,” Meteora (https://meteora.ag/) is a liquid staking protocol that seeks to “transform Solana into the ultimate trading hub for mainstream users in crypto by driving sustainable, long-term liquidity to the platform.”
A month ago, it updated its whitepaper about its native token, $MET, and its plans to fully launch the token over the next year. The second step in the year-long process is the bootstrap phase, where its DAO is expected to come up with incentive systems that can encourage the protocol’s partners and LPs to provide initial and long-term liquidity on Meteora and Solana.
This made the community speculate about a possible airdrop, with the only expected task is to be a LP on the platform and the Solana ecosystem.
BlazeStake is a fully non-custodial stake pool protocol that is supported by the Solana Foundation. Users will receive BlazeStake Staked SOL (bSOL) tokens when they stake $SOL on BlazeStake, which can be used in different dApps in the Solana ecosystem.
In 2023, its team announced its plans to launch an airdrop that year, which would giveaway extra SOL, project tokens, and governance tokens. However, there is still no update about this.
BlazeStake also still has no native token yet, leading to stronger speculation from the community that a massive airdrop is set to happen.
A possible task to be involved in the airdrop is to stake $SOL in the platform.
Powered by Wormhole, Portal (https://portalbridge.com/) is a DeFi protocol that allows users to bridge assets from any chain. When users bridge portals on the platform, the origin token gets locked in a smart contract, and a new Portal wrapped token gets minted on the target chain, which can be swapped for other native tokens on the target chain.
As of this writing, Portal has an active rewards system where users can claim $ARB rewards by bridging their $USDC to Arbitrum.
However, Portal, which also has a cross-chain NFT bridge platform, does not have its native token yet. Hinting for an airdrop soon.
Possible tasks to be a potential airdrop participant include using its token bridge feature and sending NFTs cross chain.
Sharky (https://sharky.fi/) is an NFT lending platform that allows its users to borrow and lend NFTs and buy and hold Sharx NFTs.
Last month, the team confirmed that they would be hosting an airdrop in the first half of 2024. The airdrop is in line with the token generation event of its native token, $HARK.
The two criteria to qualify include borrowing and lending NFTs on the platform, and holding Sharx NFTs.
Aiming to offer the easiest possible way of providing liquidity and earning yield on-chain, Kamino Finance is a protocol that claims to successfully combine lending, liquidity, and leverage into a single product.
Potential Kamino Finance Airdrop Task
- Lend and borrow crypto on Kamino Lend.
- Stake $SOL.
- Website: https://app.kamino.finance/
Read our detailed guide about Kamino Finance and the two airdrops it is involved: What is Kamino Finance? A Protocol Involved in Two Airdrops
Zeta Market is a decentralized exchange (DEX) that claims to offer the speed and user experience of a centralized exchange (CEX) while providing full self-custody and transparency for users by running on a public blockchain network.
Potential Zeta Market Airdrop Task
- Open a perpetual futures position.
- Website: https://www.zeta.markets/
Read our detailed guide about Zeta Market: Zeta Market Airdrop Guide and Strategy
Parcl is another Solana-based, perpetual futures trading-focused DEX that supports cross margin perpetual trading on real estate markets.
Potential Parcl Airdrop Task
- Make a trade.
- Website: https://www.parcl.co/
Magic Eden is an NFT marketplace that allows users to mint, sell, and auction their NFTs.
Potential Magic Eden Airdrop Task
- Mint, buy, or sell NFT.
- Bid during an NFT auction.
- Website: https://magiceden.io/
Cega Finance is an exotic derivatives protocol that allows its users to generate “superior yield” by offering built-in protection against market downturns.
Potential Cega Finance Airdrop Task
- Stake tokens.
- Hold NFTs.
- Website: https://cega.fi/
Intending to transform Solana into the “ultimate trading hub for mainstream users in crypto by driving sustainable, long-term liquidity to the platform,” Metero is a dynamic liquidity market maker.
Potential Meteora Airdrop Task
- Stake tokens.
- Website: https://www.meteora.ag/
BackPack is the first known wallet for xNFTs. Users can swap tokens, trade NFTs, message apps, and connect it to Ledger.
Potential BackPack Airdrop Task
- Swap tokens.
- Trade NFTs.
- Website: https://backpack.app/
Phoenix is a decentralized limit order book, supporting markets for spot assets.
Potential Phoenix Airdrop Task
- Execute trades.
- Website: https://www.phoenix.trade/
Mayan Finance is a cross-chain swap auction protocol. Its goal is to offer the best possible swap rates on Solana for any trade using auction mechanism.
Potential Mayan Finance Airdrop Task
- Execute cross-chain swaps
- Website: https://mayan.finance/
Birdeye is a crypto trading data tool aggregator. Its website includes token information, trader profiles, transaction tracking, and a list of promising tokens.
Potential Birdeye Airdrop Task
- Engage with platform services.
- Website: https://birdeye.so/
Banx is a P2P NFT lending protocol that claims to have lower loan-to-value ratios, lower liquidation risk, and low-interest rates.
Potential Banx Airdrop Task
- Lend or borrow asset.
- Website: https://banx.gg/
Rain Finance is a lending protocol that allows users to borrow, lend and earn SOL or stablecoins against their NFT on Solana.
Potential Rain Finance Airdrop Task
- Lend or borrow asset.
- Website: https://rain.fi/
With a promise of a passive income, Grass is a network that allows users to sell their bandwidth to corporations and institutions.
Potential Grass Airdrop Task
- Join the platform’s current points system
- Website: https://www.getgrass.io/
Past List of Potential Solana Airdrops
Below is the original list of Solana projects compiled by BitPinas that might have an airdrop. Some in the list below (like Jupiter) already have a confirmed airdrop incoming. (This portion of the article contains slightly outdated data but nevertheless still usefull information.)
A decentralized lending protocol offering sophisticated risk management and transparency, marginfi is set to introduce a points system redeemable on its platform for activities like lending, borrowing, and swapping crypto, hinting at a potential future airdrop.
Potential marginfi Airdrop Task
- Stake, swap or use the bridge function.
- Website: https://app.marginfi.com/
(Read more: Phantom Wallet Airdrop Strategy Guide And How To Use)
With over three million users, Phantom is a known non-custodial wallet for assets supported by Solana, Ethereum, and Polygon.
According to crypto airdrop aggregator Airdrops.io, a potential airdrop may happen once Phantom has introduced its own token, and the only criteria, as of this writing, is by just making a swap in the platform.
Potential Phantom Airdrop Task
- Do some swap and quests in the app.
- Website: https://phantom.app/
The Drift Protocol is a perpetual DEX, which allows users to trade perpetual contracts, which are agreements to buy or sell an asset at the current price, without an expiration date.
It also leverages a Dynamic Auto Market Maker (DAMM) mechanism to optimize capital efficiency and reduce slippage for traders. According to its website, the DEX offers perpetual trading with up to 10x leverage, borrow or lend crypoto, stake to provide liquidity, and swap spot tokens.
Like the first two projects, a potential airdrop can also be launched by the Drift Protocol once its native token is introduced. To qualify, users should allegedly stake crypto, borrow or lend, and trade.
Potential Drift Protocol Solana Airdrop Task
- Use the Drift Protocol to trade some tokens or become a liquidity provider.
- Website: https://app.drift.trade/
Jupiter is a DEX aggregator and infrastructure for Solana. It claims to offer the best price, token selection, and user experience for swapping tokens on the network.
It has its own native and governance token, which is $JUP. According to the developers, 40% of the total supply of $JUP is allocated to the aggregator’s airdrop. To qualify, users must use Jupiter’s limit orders, bridge, and perpetual contract features.
PotentialJupiter Exchange Solana Airdrop Task
- Swap on Jupiter directly, use the bridge function, and perform other activities on its platform.
- Website: https://jup.ag/
Tensor is an NFT marketplace that is known for paying full royalties on enforced collections while charging no royalty fee on the rest. It also offers features like floor price charts, market-making orders, and fun games like YOLO buy.
Recently, Tensor hinted at rewarding its users who traded NFTs for the past six months. If qualified, users will receive a free mystery box that may contain rewards. The marketplace also has a season-based airdrop system that rewards users for bidding, listing, and market-making on its platform.
Potential Tensor Solana Airdrop Task
- Buy NFTs from the top collections and list them. Can also buy a “Tensorian” and stake it.
- Website: https://www.tensor.trade/
This article will be updated from time to time.
This article is published on BitPinas: Ultimate Guide to Solana Airdrops 2023 – 2024
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