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Airdrops on Solana are a very popular topic. Let’s have a look at some of the most popular protocols that are yet to launch a token.
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.
Below, we will take a look at the major protocols that have yet to drop a token but have somewhat hinted at a potential airdrop through points systems or otherwise.
Useful guides to read before starting to dive into airdrops on Solana:
How do Solana Airdrops Work?
Many projects decide to create a points system. It then helps them to quantify the number of tokens various user groups should receive and streamline the process, while also providing users with a purpose and an incentive system to keep using the protocol.
Points can be used for different reasons but mainly to incentivize users to remain actively engaged in the network; the more activities they perform — e.g., lending or staking their assets in a protocol — the more points they collect, providing them with benefits like access to exclusive features or rewards.
In a potential airdrop, users with the highest number of points are better rewarded for their commitment to the network. However, protocols can differ in how they adjust distribution volumes based on supply percentage (usually between 10% and 40%), type of assets to be distributed, number of tiers (score-based distribution), data management, etc.
Commonly, a protocol will use different tiers to adjust token distribution volumes. For example, a DEX protocol will use a proxy tiering system, or “seasons,” with the final results being based on the top number of users in the given tiers following volume adjustment:
Tier 1: top 100 users with over 1M in trading volume: 100k tokens each
Tier 2: top 1000 users with over 100k in trading volume: 50k tokens each
So on and so forth.
Solana Airdrop Frenzy: The Top Tokenless SOL Protocols in 2024
Looking at the Solana ecosystem, you will notice how many of the top protocols by total value locked (TVL) don’t have a token yet but dispose of a points system.
Protocols with substantial backing by venture capital are prone to launch a token as investors most likely will want some form of compensation and liquidity for their investments and involvement.
This guide will cover both confirmed and potential airdrops from tokenless protocols, but note that any airdrop or token launch unless confirmed by the respective protocol, is speculative and not guaranteed.
