Analysts at CoinGecko have compiled a list of potential airdrops for 2024, featuring projects such as StarkNet, LayerZero, MetaMask, and several others.
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Here’s a list of 15 possible crypto airdrops to look out for in 2024 including Starknet, LayerZero, MetaMask, and more!https://t.co/1SKfNPbCSB
— CoinGecko (@coingecko) January 9, 2024
The company specialists noted that not all mentioned potential token distributions are guaranteed to occur, as some assumptions are “speculative.”
Experts also highlighted that the mechanics of airdrops have undergone significant changes over the past five years. Initially, token distributions aimed to attract new users. Now, the focus has shifted to rewarding early participants. Projects evaluate candidates based on numerous criteria, such as economically viable activities within the ecosystem and even community engagement levels.
The list of promising token distributions, according to analysts, includes:
- Ethereum-based DEX Ambient. Probability: In mid-December, trading volume on the platform exceeded $100 million, and developers hinted at the need to implement a reward system for liquidity providers, typically realized through proprietary tokens;
- Layer 2 solution Scroll based on zero-knowledge proofs (ZKP). Probability: following the successful example of Arbitrum and Optimism;
- Fully Ethereum-compatible Zk-Rollup from Taiko. Probability: The developer company has provided for the issuance of the TKO token in the white paper. In the test network, verifiers are awarded points that can be converted into rewards;
- Web3 wallet MetaMask. Probability: Back in November 2021, ConsenSys CEO Joseph Lubin hinted at the application having its own token. In March 2022, a company representative confirmed this possibility;
- Omnichain protocol LayerZero. Probability: In December, developers announced an airdrop in the first half of 2024. No further details were disclosed;
- L2 solution StarkNet based on ZKP. Probability: The Starknet Foundation confirmed the upcoming token distribution. The allocated volume for the ecosystem will be 1.8 billion STRK;
- ZKP-based Layer 2 protocol zkSync. Probability: The project’s documentation provides for the launch of its own token. zkSync is structured to transform into a vast ecosystem that may require a flagship asset for financial and technological support;
- Modular blockchain platform Fuel. Probability: Again, following the example of L2 networks like Arbitrum and Optimism;
- Lending DeFi protocol marginfi on Solana. Probability: A reward system in mrgn points is implemented for users, reflecting their level of interaction with the ecosystem;
- Blockchain network Quai Network, combining Proof-of-Work security and sharding scalability. Probability: The project has a social media rewards program, awarding Quai tokens for task completion. Assets have not yet been distributed among users;
- Cross-chain messaging protocol ZetaChain. Probability: An initiative to encourage activity is implemented in the test network. After the mainnet launch, accumulated points may be converted into tokens;
- EVM-compatible segmented blockchain Shardeum. Probability: The team announced the transfer of 50% of the project’s tokens to the community. However, the coin has not yet been launched.
CoinGecko experts also believe investors should pay attention to the DeFi protocol for trading aggregated crypto options, Thetanuts Finance, and the decentralized lending platform Atlendis. The project teams have not indicated the possibility of distributing non-existent tokens, but analysts suggest there is “a chance to try one’s luck” in hopes of a retroactive airdrop.
Scammers and Drop Hunters
The popularity of airdrops has attracted the attention of scammers, victimizing not only newcomers but also experienced market participants. In January, the CEO and co-founder of the security-focused crypto wallet Nest, Bill Lu, lost approximately ~$125,000 after showing interest in the LFG distribution.
Projects distributing tokens face threats from drop hunters. According to experts, in November, about 40% of TIA tokens from the Celestia platform were acquired by unscrupulous users during the distribution. Typically, they employ a Sybil attack (as seen in the Connext Network airdrop).
Specialists from X-explore and journalist Colin Wu, in a joint study, calculated the earnings of drop hunters. As of July 2023, the average income per address was $9,384, with the premium segment reaching $18,935.
From 2020 to 2023, the 50 largest airdrops saw DeFi projects distribute tokens worth a total of $26.6 billion, according to CoinGecko.