Several projects are set to airdrop their respective tokens to eligible claimants in the next week, AltLayer leading with a $100 million airdrop to early users.
What Happened: Ethereum scaling solution, AltLayer is the first of at least three protocols to go live with more than $100 million in token airdrops over the coming week. It allocated 300 million tokens in the initial airdrop to all the Ethereum wallets.
The protocol’s native token (ALT) started trading on centralized exchanges on Jan. 25 and saw $300 million in trading volume across all exchanges within four hours of the commencement of trading. The utility of the token is important for governance and transaction fee payments within AltLayer’s infrastructure.
Multilayer rollup deployer, Dymension is also set to launch its mainnet in the upcoming days. It will airdrop 70 million DYM tokens (currently valued at $210 million) mainly to Celestia stakers and Pudgy Penguin NFT holders. Solana and Ethereum ecosystem participants will also be eligible for the airdrop.
- Solana-based decentralized exchange Jupiter confirmed that it will launch its JUP token on Jan. 31, with one billion tokens being distributed in the airdrop, valued at around $410 million.
- Pseudonymous Ordinals developer Leonidas announced the launch of “Runestone,” a decentralized “fairdrop” initiative for rewarding the early users of the Bitcoin Ordinals protocol.
- De.Fi also revealed its Airdrop Season 1, noting that the most active users will be rewarded. Web3 Super App, De.Fi, witnessed success with its $10 million public token sale in 2023, leading to $17 million in funding.
Also Read: Gaming Token Airdrops To Bring New Year Wishes To Crypto Gamers In 2024
Why It Matters: With the Airdrop season in full swing, it is important for investors/traders to remain cautious about scam accounts posing as developers on social media platforms and posting airdrop claim links. Bogus links can lead to the stealing of users’ funds.
An airdrop hunter, Terra Gatsuki noted how a wallet made $228,400 on airdrops. He analyzed his airdrop strategy through his on-chain history.
Meanwhile, Altcoins hunter, Wolf Of Altcoins took to his X handle to highlight how much money people have made from airdrops.
Read Next: Hackers Steal $580,000 With Fake Airdrop Links In Phishing Mail Scam
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