How to Trade Airdrops on Solana?

Solana is one of the best blockchain ecosystems for airdrops. New Solana projects often reward early adopters.

Notable examples include Bonk, Jupiter, and Orca.

Airdrops on Solana are a very popular topic

Airdrops are popular for several reasons: they are a dynamic and non-expensive marketing strategy for DeFi protocols and offer potentially lucrative rewards for early users.

That last point has airdrop farmers actively pursuing and researching DeFi protocols that might launch a token anytime soon.

If you’ve noticed, there are several tokenless protocols that have a points system. That’s because DeFi protocols love to offer points before an airdrop.

Looking for the next big Solana airdrop in 2024?

Our Solana airdrop guide will now take a much closer look at the projects listed above.

Smog

Overall Best Solana Airdrop to Claim in 2024 With 100x Potential
Smog is not only the best Solana airdrop to claim but it could be the next cryptocurrency to explode.

Put simply, Smog is a brand-new meme coin project with huge upside potential. There’s a lot of hype surrounding Solana meme coins right now, especially considering the success of Bonk and Myro.

Kamino

New Decentralized Finance Platform Serving Solana Projects
Next is Kamino, a decentralized finance platform that serves the Solana ecosystem.

Kamino enables investors to lend their idle cryptocurrency tokens. In return, investors earn competitive APYs. Anyone can borrow cryptocurrencies on Kamino. However, they must first deposit some cryptocurrencies as collateral.

Phoenix

Up-and-Coming Trading Platform With On-Chain Order Books
We found that Phoenix could also be one of the best upcoming Solana airdrops.

Like many new SOL projects, Phoenix hasn’t launched its native cryptocurrency yet.

However, it is looking for early adopters to use its products and services. Therefore, this is the best way to secure some airdropped tokens in preparation for its mainnet launch.

Parcl

Trade the Global Real Estate Markets via Synthetics Futures
Next on this list of Solana airdrops is Parcl.

This is an innovative project that enables users to speculate on global real estate markets.

It utilizes synthetic futures, a form of financial derivative. This means users can predict whether a marketplace is likely to rise or fall without owning any property.

How Parcl Airdrop Will Work

Parcl will mint 1,000,000,000 tokens and send 7-8% of them to the community. About 10-12% of the tokens are in circulation currently.

The new token will grant holders decentralized app governance and access to real estate data.

Holders will also be eligible for future incentive programs, while the Parcl Foundation will coordinate governance decisions. The Parcl team will unveil tokenomics in March.

In the meantime, Parcl assures those eligible for the airdrop that they will be informed through official channels. The actual airdrop event will take place on an undisclosed date in April.

Elusiv

Innovative Privacy Network for Transacting Anonymously
Elusiv is also worth exploring on this list of upcoming Solana airdrops.

First and foremost, Elusiv is a new Solana project that specializes in privacy. It has developed an innovative network that upgrades transactions from ‘pseudonymous’ to ‘anonymous’.

This means wallet details linked to senders and receivers are kept hidden.

Trading airdropped tokens on Solana

Trading airdropped tokens on Solana typically involves two steps: claiming the airdrop and then swapping it for another cryptocurrency. Here’s a breakdown:

Claiming the Airdrop:

• Most Solana airdrops aren’t directly deposited in your wallet. You’ll likely need to visit a designated website to claim them.
• Some popular Solana wallets, like Phantom, provide notifications within the app when you’re eligible for an airdrop. Clicking the notification should take you to the claim page.

Trading the Airdropped Token:

• Once claimed, you can trade your airdropped token for other cryptocurrencies.
• Popular options for swapping on Solana include:
  • Phantom Wallet: This wallet offers a built-in swap feature. Simply select the airdropped token and choose the token you want to trade it for.
  • Jupiter Aggregator: Similar to services like 1Inch on Ethereum, Jupiter helps you find the best rates across various Solana liquidity pools for your token swap.

Phantom Airdrops

Notable crypto airdrops

Airdrops on Solana are not an entirely new phenomenon. Yet, they’re more recent than most major airdrops in the past:

• Ethereum Classic (ETC): Following a contentious hard fork of Ethereum (ETH) in 2016, Ethereum Classic emerged as a separate blockchain. Consequently, ETH holders received an equal amount of ETC after the fork was implemented successfully.
• Bitcoin Cash (BCH): In 2017, Bitcoin (BTC) underwent a hard fork that resulted in the creation of Bitcoin Cash. BTC holders were eligible for an equivalent amount of BCH, which was later airdropped to their Bitcoin wallets.
• Ripple (XRP): Ripple has performed various promotions to increase the adoption of its XRP cryptocurrency—including airdrops, giveaways, and partnerships.
• Uniswap (UNI): In 2020, Uniswap airdropped its native token, UNI, to users who had interacted with the platform in the past.
• Arbitrum (ARB): In order to incentivize adoption, Arbitrum gave out up to 10,000 ARB to users that interacted with applications on the network before December, 2022.

Zealy Season 2 to launch on April 4th

buying, holding and swapping $SMOG will juice airdrop rewards

On-chain activity such as buying and holding has not been factored into the Season 1 airdrop, but that will all be changing in Season 2 which starts on April 4th.

In the second season buying and holding $SMOG token will be a particularly prized activity in the airdrop, attracting a higher overall weighting than other quests.

To turbo boost the profile of Smog, special attention is being paid in Season 2 to promoting the hashtag #SmogSwap.Most importantly, Season 2 will be awarding XP based on buying, holding and swapping $SMOG since the token launch date – so community members new and old should fill their bags on Birdeye now.

Wormhole Airdrop on Ethereum and Solana Could Be Worth Almost $3 Billion

In early trading, Wormhole’s W token has five times the value that it held last month.

According to CoinGecko, the largest crypto airdrop so far was for Uniswap’s UNI token on September 16, 2020—a $6.43 billion event. Wormhole’s upcoming airdrop would place it firmly within the top five.

That said, Wormhole hasn’t announced an official airdrop date, and pre-market trading prices may fluctuate wildly before then.

There’s also a strong chance the price could collapse dramatically after the token is listed on exchanges, as is what happened with Starknet’s STRK airdrop last month.

The Wormhole and Starknet airdrops are similar in several ways: tokens for both protocols have a fully diluted supply of 10 billion tokens, and each gives governance rights to its holders to determine the future of the project in a decentralized manner.

Much of the W supply is also being reserved for its biggest stakeholders, including 5.1% for guardian nodes, 12% for core contributors, and 11.6% for strategic network partners.

Wormhole allows crypto users to send messages and assets between 30 different blockchains, having popularized as a two-way bridge between the Ethereum and Solana networks.

It held a $2.5 billion valuation following a $225 million funding round that closed in November 2022.