Solana has an incredibly rich DeFi ecosystem, with many tokenless projects operating with large volumes. People made over $10,000 on JTO and PYTH airdrops, and many more projects are going to launch their tokens in 2024.
If you faded JTO and PYTH, then you can’t afford to fade the following ones.
Solana Airdrops to Keep an Eye on
1. Phantom Wallet
Phantom Wallet is the most popular one on Solana, and many people are speculating that Phantom itself may, at some stage, do an airdrop. The friendly crypto wallet built for DeFi & NFTs boasts over 390,000 followers on Twitter.
While the most common way of preparing is by doing swaps through the Phantom wallet, there are also some more unique ways to interact with the project.
- Select the dApp tab within Phantom, and then select Quests.
- Click the ‘Subscribe to DRiP’ button, create a profile, and claim your droplets (you can do so every 6 hours), then play ‘legendary-lock-in’.
- After doing so, claim your collectible and then claim droplets regularly.
NOTE: You need a minimum of 0.1 SOL in your wallet at all times to claim the drips.
MarginFi is a decentralized lending protocol on Solana that is fully permissionless and allows for lending and borrowing capital through their platform. With the launch of their points program, it hints that a future airdrop is likely very soon.
To utilize the platform and earn these points,
- Deposit and Lending funds on MarginFi.
- Stake SOL for LST and deposit the LST token.
- If your liquidity and risk management allow (as you can be liquidated), you can borrow funds to use for future farms.
NOTE: When borrowing real funds, you run the risk of liquidation. Before interacting, make sure you fully understand the risks involved and keep your portfolio’s health in good standing.
3. Drift Protocol
Drift is the number one perpetual DEX on Solana with up to 20x leverage, cross-margin & multi-collateral. It has grown to facilitate an enormous amount of DeFi within its protocol. By using their project early, we can position ourselves well for a token airdrop.
Since they’re a Perp DEX, using Drift to create trading volume will most likely have a large impact on airdrops.
Jump onto their website and begin interacting:
- Create trading volume
- Use their lending/borrowing protocol
- Add liquidity to the DLP.
- Stake in their vaults.
Tensor is Solana’s Leading NFT Marketplace with an impressive amount of daily volume created. They just launched season 3 of their Tensor Rewards live, we can participate in their ecosystem to get involved.
To participate in this airdrop:
- Head over to their website.
- Earn points by trading NFTs, listing them, or simply placing bids on projects.
NOTE: Points are only accumulated for the interactions on the Top 100 Collections.
5. Jupiter Exchange
Jupiter began as a decentralized exchange aggregator on Solana but has grown into an absolute DeFi hub in the ecosystem. They are a full-stack ecosystem play focused on advancing decentralized trading, Solana, and the metaverse.
While a snapshot has already been taken for the first round of JUP tokens, there are confirmed future rounds that you can still participate in!
On their website, you can:
- Make swaps
- Trade Perps
- Use their DCA System
- Set and buy using limit orders
- Bridge through their website
NOTE: While bridging, you can route through Wormhole to increase eligibility for a Wormhole airdrop.
6. Kamino Finance
Kamino is Solana’s one-stop shop for borrowing/lending, liquidity vaults & leverage trading. It is a suite of products to help facilitate DeFi on Solana. With an upcoming points program, early users are likely to be rewarded.
On their website, you can interact by:
- Supplying and Borrowing funds (maintaining good Loan Health)
- Staking in their Liquidity vaults
- Staking in their ‘Multiply’ Vaults
- Staking in their ‘Long/Short’ Vaults
7. Magic Eden
Magic Eden is one of the largest NFT marketplaces on Solana, with an impressive number of partnerships. While you can use the platform normally to generate volume for any upcoming airdrops, there is also a different way to interact with the website.
- Click the diamond button to go to the daily quests tab.
- Claim points every 24 hours here and earn an additional 50 Diamonds by setting up your account!
NOTE: While you receive more points for volume on the marketplace, if you have low capital, it’s a free way to participate.
SolBlaze is building a liquid staking platform for Solana’s Ecosystem. Users can stake with BlazeStake to help make Solana more decentralized. There are many other different DeFi products for Solana users to use and interact with. These interactions are rewarded with periodic airdrops of BLZE into users’ wallets.
- Simply head to SolBlaze and click “Stake”.
- stake your Sol for bSol, their liquid staking token.
- Use that bSol on various platforms such as MarginFi, Kamino, Drift, and others to participate in their airdrops.
9. Zeta Markets
Zeta Markets offers DeFi Perps trading at an incredible settling speed on Solana. Since this is another perpetuals Trading DEX, by creating trading volume, we can best position ourselves for any future airdrops from the protocol.
While Season 1 is over, Season 2 of their Z-Score event will begin very shortly. To participate once it starts,
- Deposit USDC onto their platform
- Make trades.
NOTE: If it is like Season 1, every dollar traded increases your Z-Score by 1. While this may change, trading will still ultimately be rewarded.
Parcl is an RWA Protocol that allows users to speculate on real-world Real Estate Assets. With Parcl, you can trade real estate prices with up to 10x leverage without worrying about insufficient liquidity.
They currently have a points system in place, so an airdrop is highly likely! There are two ways to accumulate points currently:
- Use Parcl to long/short active markets.
- Provide USDC to their liquidity vaults.
NOTE: Using a ref code will earn you a 5% bonus on points, so use a friend’s code or find someone below in the comments!
Use Referral code: blockzeit to receive 5% bonus on points:https://app.parcl.co/referrals
The Solana ecosystem keeps getting bigger, and the upcoming airdrop season is going to be even crazier. While these airdrops may be profitable, some of the farming strategies involve risks, such as liquidations. Ensure you know what you’re doing before depositing into any of them.