An inventory of six airdrop projects worthy of attention in May 2024

What other airdrop projects are worthy of your attention in 2024.5? A list of six airdrop projects worthy of attention! Several airdrop chasers in May are turning to other targets — DeFi protocols without native tokens. This expectation often causes liquidity to flood into the platform as users prepare for the airdrop. While the current market slowdown hampered crypto tokens’ price gains earlier this year, here are some projects attracting hope. Today, the editor of this website will introduce to you in detail six airdrop projects worthy of your attention. I wish you all to make money soon!

• Airdrop hopefuls continue to develop tokenless projects.

• Cryptocurrencies are driving investor deposits.

• Airdrop recipients were not swayed by the project team’s attempts to deny the possibility of token distribution.

April is a big month for airdrops, as several major crypto protocols have launched their native tokens and rewarded early adopters.

Stablecoin protocol Ethena has issued a $500 million airdrop to 90,000 eligible users. Others including crypto bridge Wormhole and Solana-based real estate futures market Parcl have followed suit.

As April comes to an end, airdrop chasers are turning to other targets – DeFi protocols without native tokens.

While tokenless projects such as interoperability protocol LayerZero have assured users of future airdrops, others such as Ethereum-backed giant EigenLayer have been reluctant to commit to possible token distribution events.

Nonetheless, airdrop chasers could point to the points programs launched by some of these projects as possible indicators, especially since projects including Parcl and liquidity re-staking protocol Ether.fi have converted their points to airdrop.

When users prepare for airdrops, this expectation often causes liquidity to flood into the platform. While the current market slowdown hampered crypto tokens’ price gains earlier this year, here are some projects attracting hope.

Zircuit

Zircuit is an Ethereum Rollup that uses zero-knowledge proofs, a method for verifying transactions without revealing all the data they contain encryption technology.

Zircuit has not yet launched its mainnet. That's expected to happen over the summer, but that hasn't stopped airdroppers from flooding the protocol's test network, with nearly $2.5 billion in deposits being put into Zircuit staking this month.

Early adopters who deposit funds with Zircuit will receive points for doing so. As always, it is expected that these points will be converted into Zircuit’s native token in the future, but the project team has not yet announced such plans.

In addition to Zircuit points, savers can also earn points from the project’s partners, including Renzo, EigenLayer and eOracle – the latter two remaining tokenless.

EigenLayer

EigenLayer is the second largest protocol in DeFi in terms of investor deposits, with a TVL of $15.4 billion.

The protocol is at the center of the hype around re-staking – a buzzy new crypto-meta that involves staking already-staked Ethereum.

These deposits were fueled by widespread belief that EigenLayer would airdrop its tokens to early adopters.

In recent months, Eigen Labs, the developer of the protocol, has declined to say whether an airdrop was imminent, other than telling users on Discord that "there are no tokens."

Still, this denial may be a tactic by the developers to evade scrutiny by U.S. regulators.

Karak

Karak is another player in the re-pledge space. This emerging protocol is by no means a major competitor to EigenLayer — at least not yet, but it is worth $1 billion. It has managed to attract $400 million in investor deposits since its private launch in early April.

Unlike EigenLayer, which only runs on Ethereum, Karak supports restaking on Arbitrum and its native blockchain, the Karak network. The protocol also allows for re-staking of assets other than Ethereum, including stablecoins and various forms of liquidity staking Ethereum.

Karak also has a points program – users are rewarded with XP for depositing funds and referring others. XP is similar to points, and it is expected that token airdrops will eventually be offered to early adopters.

The protocol has not yet announced plans to convert XP into airdrops.

friend.tech

Social networking platform friend.tech has experienced a renaissance this month with the launch of its second version called V2 and has Possible airdrop.

Earlier this month, the platform saw $7.4 million in user deposits in a single day, its largest single-day trading volume since its heyday in late October.

With reports that the project will airdrop 100% of its total token supply, there is a lively market in the friend.tech points market.

This is an outlier among cryptocurrency airdrops, as the freely available tokens typically represent only a small portion of a project’s total supply.

LayerZero, zkSync

LayerZero and zkSync are two of the most anticipated cryptocurrency airdrops.

Both have seen a lot of activity over the past two years. Means registering an activity on the protocol or blockchain to qualify for possible air investment.

The developers behind both projects have confirmed their planned airdrops of native tokens. LayerZero is expected to launch before the end of the first half of this year, but little is known about the timing of zkSync token distribution.

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