How to Receive Crypto Airdrops: Ultimate Guide For Beginners Cocoricos

how to farm airdrops

This allows more transactions to be processed off-chain while maintaining the security and decentralization of the Ethereum network. It has a growing ecosystem of decentralized applications and is poised to play an essential role in expanding the Ethereum platform. You can do this on cryptocurrencies or Non-fungible tokens (NFTs).

Airdrops Farming Guide

  1. It’s a more challenging environment, but with careful planning and research, success is still attainable.
  2. Keep stacking those small wins until you have some capital to farm the next few chapters of this blog.
  3. The first 2 often list big airdrops on the first day so you will be smart setting up an account there to be ready to go when you need it.
  4. Profits have been thin-picking during this crypto bear market.
  5. A Pudgy Penguin, Tensorian, Inscribed Pepe, and I sometimes Trade Azukis when we’re getting closer to a potential Azuki Coin.
  6. The First popular P2E game was Axie Infinity back in 2020.

If successful, LayerZero could completely revolutionize how capital flows across and between different blockchains, unlocking a new world of scalability. In order to qualify for airdrops, the first thing you’ll need is MetaMask, a browser extension wallet that works for Firefox, Brave, or Chrome. This is your primary interface to the decentralized world. It is an essential must-have for anybody looking to use decentralized exchanges, farm airdrops, or play games in the Metaverse.

how to farm airdrops

What you’re going to learn in this article:

In this article, we will share some tips to help you when farming airdrops in DeFi. This wallet is broadly used to be eligible for staking airdrops. For example, Altlayer recently announced a retroactive airdrop for TIA stakers. You can stake TIA within a view clicks on Keplr, which would have made you eligible for the $ALT airdrop mentioned. The Magic Eden NFT marketplace currently has an active airdrop campaign. And as a Magic Eden Wallet user, you’ll enjoy a preferred 1.25x Liquidium points multiplier on their Ordinal lending platform.

Blur season 2, Magically,, $GMI Airdrop and more

Some of the top crypto airdrops right now include zkSync, Base, and MetaMask. These projects are likely to launch tokens and early users could qualify for a potential airdrop. There are many other opportunities as well which you can can find in my list of top upcoming airdrops and my list of airdrop guides here. In terms of profitability, airdrop farming has proven to be quite lucrative. For example, the ENS token airdrop alone was worth around $40,000, making it one of the most profitable airdrops ever.

Claim Your Bonus

Even the volume you have completed on MetaMask will be rewarded with Points on Rainbow. All you have to do is Claim it and keep using it in the future to farm your airdrops. By using blockchain projects early on, before they launch their native token, you can position yourself to receive airdrops worth $1,000-$5,000 or more. ZkSync has raised $458 million from leading investors like Blockchain Capital and Dragonfly Capital. While there is no official announcement or confirmation about a zkSync token airdrop, users could receive airdropped tokens as a reward for participating in the zkSync ecosystem. ZkSync is a layer-2 scaling solution built on Ethereum that leverages zero-knowledge proofs (ZKPs) to increase the transaction throughput and reduce gas fees.

There are a number of dedicated telegram groups that also keep a track of the upcoming ICO’s or IEO’s and their airdrop tokens. Many online dedicated websites also keep a track of all the past, active, and upcoming airdrops. These websites also enlist details of the upcoming airdrop such as requirements, new giveaways, days left, etc.

While the early days offered easy profits, the current bear market has made it tougher to secure substantial gains. Despite the challenges and criticisms, airdrop farming remains a viable strategy for those willing to put in the effort. Its low entry cost, mainly transaction fees, still attracts users, particularly early adopters who can benefit from new projects.

Quai is a new EVM-compatible blockchain that combines the security of Proof-of-Work, with the scalability of sharding. It does so through the use of Merged Mining, allowing miners to validate a large number of chains using the same mining hardware and bandwidth. The chain is expected to be a hybrid rollup consisting of both optimistic rollup architecture (used by Optimism and Arbitrum) and zero-knowledge proofs.

This chapter is only for the chads who have capital and liquidity available. Just this week we dedicated a blog to 7 different Testnet Airdrops, which you can read here. There are several more coming and active this year, so keep an eye on our DeFi section to catch them all. I’m personally farming LogX and Hyperliquid while trading.

Do conduct your own due diligence and consult your financial advisor before making any investment decisions. The Frax Finance team plans to launch its own L2 blockchain called Fraxchain by the end of 2023. Many crypto investors are excited about the potential for Fraxchain since the Frax team has a history of delivering quality products that offer innovation within the DeFi space. We present to you The Most Comprehensive Guide on How to NEVER Miss out on ANY Airdrop + STEP-BY-STEP INSTRUCTIONS across multiple upcoming blockchains and dapps.

This option provides a yield as well, as you earn interest on your loans. While several platforms give you airdrop opportunities. Base is an EVM-compatible chain backed by Coinbase and built on the Optimism stack. During the development of Base, Coinbase collaborated with popular DeFi yield farming protocols, lending dapps, NFTs, bridges, stablecoins, gaming projects, and more.

On a DEXs they allow token trading without centralized order books. Smart contracts manage trades, adjusting prices based on supply and demand. Contributors earn rewards proportional to their liquidity. The newer and smaller pools can offer 4-figure APR returns, while bigger pools might offer you between 5-15% APR.

Potentially you need to switch chains, bridge funds, or being able to estimate the liquidity depth of the Dex. We have a list of 15 Dex Airdrops you can farm, so have a look if you are ready to trade! One thing to keep in mind, the best thing is to have no on-chain connections between your farming wallets. Put the initial capital in the wallet from different sources (CEX or otherwise) and avoid transactions between them.

Well, they need to reward users in some way for staking their tokens and creating liquidity for markets, so yes, DEXs are highly likely targets for variance analysis formula with example airdrops. Take that into consideration when you start airdrop farming. Reduce risks by spreading funds and working on your online security.

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