[Outdated] Airdrop Analysis

Outdated - originally researched in Nov 2021 but the tips still hold true!

Tips for getting airdrops:

1. Airdrops are typically given to pre-token protocols, Defi Llama has compiled such a list you can reference
2. Participate actively in their Telegram/Discord communities, completing quizzes/calls and messaging in Discord given that there is often a ranking system based on activity that are sometimes used as a filter for airdrops
3. Use their products, making sure to do so with sufficient value and frequency (e.g. Uniswap swaps, dYdX swaps). Do them for both testnet/beta releases and products that are already live.
4. Look for documents in whitepapers, blog/medium posts or podcasts where team members talk about “distributing governance”

Example potential airdrops on different chains:

Solana

1. Symmetry Finance — DEX aggregator,

• Probability: Confirmed, multiple Symmetry Discord Mods confirming an airdrop

2. Jupiter Aggregator — DEX aggregator

• Probability: Confirmed, as per Discord FAQ
• Eligibility: Probably making swaps since that is currently the only use case

Taken as of 23/10/21

3. Jet Protocol — Money market

• Probability: Highly likely, “early adopter token agreements” as per white paper*
• Eligibility: Probably borrowing/lending

Whitepaper V1.0 as of 28/10/21

Ethereum

1. FujiDAO — Money market borrowing optimizer

• Probability: Confirmed, “distributed to users of the protocol” as per white paper*

TVL as of 13/10/21 : $627,68⁰¹

Whitepaper V1.0 as of 13/10/21

2. zkSync — L2 Smart contract platform

• Probability: Likely since there will be a token with a plan for full decentralisation in the FAQ*

As of 28/10/21

Examples of past airdrops:

1. Ribbon Finance — Airdrop, Website

• $35mn peak TVL, 1000+ depositors, $78mn in notional options minted and sold (18k ETH, 710 BTC, 5m USDC)²
• Mainnet launch on 12 Feb 2021, snapshot 22 May 2021 (~3 months), 7 Oct distribution
• 12+ VCs invested including Divergence that got caught sybil farming and dumping airdrops using insider knowledge³

Distribution:

• 3% of RBN (30m RBN) airdrop worth $144m on first day price of $4.79
• Distributed between 1) Past & existing users of Ribbon products and Active Ribbon Discord members [87% of airdrop] 2) Users of various options protocols on Ethereum (Hegic, Opyn, Charm, Primitive) [13% of airdrop]¹
• Ribbon Strangle Buyers: 500k RBN equally distributed between 42 eligible addresses, criteria unknown, each getting 11,904 RBN (~57k)
• Ribbon Theta Vault Users: 10.5m RBN equally distributed, deposited at least $100 worth of assets, each getting 12,195 RBN (~58.4k)
• Ribbon Theta Vault Bonus: 10m RBN distributed based on deposit size, distributed non-linearly for a more equal distribution, median bonus is 6,609 RBN (~31.7k)
• Discord Community Members: 5m RBN to users with >5 messages. Out of 104 members, 64 got 62,500 RBN (~299k) each , while 40 got 27,027 RBN (~129k) each depending on whether or not they recognised a running community meme

2. Uniswap — Website, Airdrop

• $20b volume traded, 250,000 users, $1b TVL, 49,000 LPs, $56m in fees
• 1b UNI tokens at TGE
• Mainnet launch on 2 November 2018^, Snapshot on Sep 1 2020^, Distribution Sep 17 2020

Distribution:

• 15% of UNI (150m UNI) airdropped worth $1b on first day price of $4.9
• Liquidity providers: ~4.9% (~49m UNI) based on deposit size, proportion weighted daily and time-weighted since Uniswap v1 deployment
• Swap users: ~10% (~100m UNI) equally across 251,534 historical addresses which equals to 400 UNI each
• NFT holders: ~0.02% (~220k UNI) distributed equally to 220 addresses that have historically redeemed or current SOCKS NFT holders which equals 1000 UNI each