Low-Cost Wealth Creation Guide: Take You to Grab "God-Level" DeFi Project Early Airdrops

This article is from DeFi Dao, authored by Wang Jiajian.

In the crypto world, what people envy the most is not buying a skyrocketing coin, but rather pulling off a low-cost or even no-cost airdrop from project teams.

Looking back at the legendary airdrops in the DeFi world over the past year, it is no exaggeration to say that with a little effort, getting a Porsche is entirely possible.

If you have the ability to claim red envelopes on Pinduoduo, stop asking others to cut a slice for you every day. Airdrops in the crypto world tell you that money comes easily. For example:

In September 2020, Uniswap airdropped 400 UNI tokens to each account, currently worth 80,000.

In December 2020, 1INCH airdropped at least 600 tokens, averaging 1629 tokens, currently worth a minimum of 16,000 and an average of 42,000.

In December 2020, Tokenlon airdropped at least 20 tokens, with many receiving hundreds, currently valued at 12,000 for 300 tokens.

In March 2021, Inverse Finance airdropped about 80 INV tokens to accounts, valued at around 800,000…

Of course, there are also some legendary projects where the value of the airdrop is simply astronomical, such as the NFT concept project MEME, which, if you participate, boom, gives you a villa…

It must be emphasized that there are many airdrops in the crypto world, and the ones listed above are just a small part. Additionally, we only discuss those truly high-quality airdrops, which today are all well-known projects in the DeFi track.

With such generous airdrops from DeFi projects, how can you participate? You will know after reading this.

5 Ways to Participate in Early Airdrops of DeFi Projects

Early airdrops of DeFi projects mainly involve personal participation through on-chain wallets interacting with the project contracts. Taking Uniswap as an example, this means logging in and making a trade.

Today, the logic behind project airdrops has become very diversified. We have outlined 5 current paths to obtain airdrops. Of course, whether there will be an airdrop is uncertain; those that promise you an airdrop generally don't deliver based on historical evidence.

1. Contract Interaction.

Contract interaction is suitable for DeFi projects that have not yet issued tokens.

For example, DYDX (https://trade.dydx.exchange/margin/ETH-DAI), which has been quite active recently and has a high probability of issuing tokens and airdrops, is an old project that integrates various features like lending and futures contracts.

The participation method is simple: after connecting your wallet address, deposit ETH or other eligible tokens into the protocol, then perform some lending or futures contract operations.

Today, interacting with Ethereum contracts requires at least two on-chain operations: depositing tokens and withdrawing them, which incurs some costs.

2. Testnet Trials

Testnet trials can likely be done at no cost, requiring only some time.

For example, the derivatives trading project Kine (https://kovan.kine.exchange/) is currently conducting preliminary tests on Ethereum's Kovan testnet. Logically, you need to first obtain test tokens on Kovan, then use those tokens to interact with contracts for products related to lending, collateral, and contracts.

Currently, the concept of Ethereum Layer 2 networks is very popular, including projects like zkSync that have launched testnets, while more projects are testing products on various Layer 2 networks like Optimistic. For DeFi scientists and practitioners, diving into contract interactions may lead to valuable token airdrops in the future.

3. Donations

Donations refer to giving funds to projects that have not yet issued tokens or are still in the development stage. Once they issue tokens, they may provide airdrops to those who helped them in the early stages.

For example, a very well-known donation site is Gitcoin (https://gitcoin.co/grants/), a product proposed by Ethereum founder Vitalik Buterin to solve the low financing efficiency of Ethereum ecosystem projects. Previously, the popular Mask Network project airdropped tokens to donors who participated in Gitcoin's 8th fundraising round.

Currently, Gitcoin is conducting its 9th round of donation activities. The participation method is simple: log in to the website, choose a project, and send tokens to them. You don't need to send much; even 1 USDT might get you a motorcycle.

Additionally, Hackerlink (https://hackerlink.io/) seems to be an emerging donation platform that is quite active.

4. Protocol Governance

Protocol governance is a more advanced way to participate in DeFi project airdrops. Simply put, it involves participating in the on-chain governance of DeFi projects and providing suggestions for the project. For instance, you can participate in the on-chain governance of Uniswap or Sushiswap and vote on their governance proposals. This is almost cost-free, but the prerequisite is that your wallet needs to hold some corresponding tokens.

The airdrop logic for protocol governance is that if a new project collaborates with Uniswap, or is simply a new project, it needs to attract active DeFi users. Therefore, wallet addresses that have participated in on-chain governance are considered "suitable users," and they will receive token airdrops.

Currently, there are mainly two paths for protocol governance: one is a forum built by the project itself, such as Uniswap's own governance page. The other is dedicated governance platforms like snapshot (https://snapshot.page/#/). Currently, Sushi is conducting a proposal, so if your wallet has SUSHI, go participate.

5. Unpredictable Airdrops

As mentioned above, when a new project emerges, it faces the question of whom to airdrop tokens to. Who are their true potential users? This standard is determined by the project team, so different project teams will have their own airdrop logic.

For example, Rekt is a DeFi-related content website (https://www.rekt.news/?page=1). You can apply for an account there because the content is very hardcore, and project teams may consider its users to be quality DeFi players, leading to airdrops.

If you discover any new paths, feel free to leave us a message.

To Participate in DeFi Airdrops, You Need These Basics

To participate in DeFi airdrops, you need some "tools of labor" and some DeFi knowledge, as on-chain operations can be challenging for investors who only know how to buy and sell coins. Of course, you also need a spirit of exploration and a crazy desire for wealth…

The tools of labor are simple.

1. Use a VPN, as most DeFi projects are overseas.

2. MetaMask wallet extension + Google Chrome, the former is the gateway to the DeFi world. Of course, other wallets like Mixin can also work.

3. Your wallet should have some ETH for on-chain transaction fees.

4. Youdao Dictionary to help you translate any incomprehensible English.

Basic DeFi Knowledge:

1. Look for quality projects that may have airdrops.

2. The earlier you participate, the better! Airdrops are time-sensitive, such as before they issue tokens.

3. Patience, waiting for the wind to blow money your way.