After the unexpected airdrop from 1inch, we analyzed other protocols that could be the next contenders for the token launch.
Thousands of DeFi users received an unexpected Christmas present from DEX 1inch aggregator. The protocol sent out tokens to its first users.
Earlier in September, Uniswap took a similar step; The 400 UNI tokens that its users received were originally worth $ 1,200. Today they cost over $ 2,000.
Uniswap and 1inch will not be the last DeFi protocols to launch the token this way. Just this week, “DeFi lego” Furucombo announced plans to distribute tokens to early adopters starting this month. Several more protocols are rumored to be planning to release tokens.
It is important to note that nothing can be guaranteed because the selection criteria are very difficult to predict.
However, there is an obvious takeaway that many DeFi users have learned in the past year: get involved as early as possible, use infrastructure actively, and you can be richly rewarded.
Here are the most anticipated potential airdrops.
# 10 – ParaSwap
ParaSwap is a DEX aggregator that works in a similar way to 1inch. Commissions can be high, although the team recently announced some improvements that will lower commissions by about 20%.
On Telegram, the team noted that there is no “current airdrop”, which could be a hint that things could change in the future.
# 9 – dYdX
dYdX is an exchange that allows spot, margin and perpetual trading on DeFi. But there is also a fairly high barrier to entry compared to a DEX like Uniswap: many trades require a minimum of 1 ETH, and gas fees can also be astronomical.
It is rumored that dYdX has its own token that is under development, although it is difficult to predict if it will be suitable for an airdrop.
# 8 – Set
Set caught the attention of the DeFi community last year with the launch of the DeFi Pulse Index, an automated portfolio that brings together many of DeFi’s blue chips.
DPI weighs the capitalization of each asset based on its performance, making it an easy way to access DeFi without regularly checking prices. The protocol offers two others: “ETH WBTC Yield Farm” and “ETH USD Yield Farm”.
If the team decides to launch a token, as some have suggested, it is possible that users can get free tokens.
# 7 – Zapper
If your crypto assets are held in multiple addresses, Zapper is one of the best ways to track your assets.
The interface gives users an overview of the portfolio through one easy-to-read dashboard, but it is more than a price tracker. It is also possible to invest by connecting a wallet and providing liquidity for integrated protocols like SushiSwap, Curve, Balancer, or by swapping between different tokens with relatively affordable fees.
Some have suggested that Zapper might schedule its own token to launch, so using one of its integrated features might be a good strategy to get into the distribution.
# 6 – Opyn
Options have gained significant acceptance in DeFi lately, although Opyn have been the pioneers in this area (despite some problems). Their protocol allows users to manage risk by buying put and call options on their assets. Options are redeemed as an “o” token and can also be traded.
Opyn recently launched V2 of its platform. Maybe the next step would be a control token?
# 5 – Zerion
Zerion offers similar capabilities to Zapper: users can connect to a wallet like MetaMask or Coinbase, or track their portfolio by entering an address or ENS name.
The interface provides an overview of portfolio performance and access to trading, exchanges, liquidity mining and more. The exchange feature combines multiple DEXs with high liquidity, which may be the easiest way to interact with an application.
Zerion may launch a token in the future, so it might be worth using it for trading and other activities.
# 4 – MetaMask
Most regular DeFi users are already used to MetaMask, with over 1 million users per month. It recently added an exchange feature so users don’t even need to open an AMM like Uniswap to trade quickly.
It is believed that MetaMask may issue a token at some point in the future, so using a wallet for a few simple swaps can prove to be a profitable investment.
# 3 – Instadapp
Instadapp is another portfolio management tool. It provides access to strategies such as leveraging, borrowing and exchanging collateral across DeFi’s core products MakerDAO, Compound, and Aave.
If Instadapp launches a token distribution, any user who has previously used the application can receive a reward.
# 2 – DeFi Saver
DeFi Saver supports almost all DeFi wallets. Once connected, users are presented with a clear overview of each of their tokens. DeFi Saver integrates MakerDAO, Compound and Aave, as well as exchange and smart wallet functionality for multi-protocol interest.
# 1 – OpenSea
On OpenSea, users exchange digital assets such as trading cards, artwork, and ENS names. It is described as an eBay for collectible cryptocurrency tokens.
OpenSea may issue a token to its early adopters. Trading on the marketplace can be an effective strategy for gaining access to any future hand.
Naturally, the above list is just an estimate of what protocol might be issuing its own token to users. That being said, experimenting with decentralized protocols is a great investment in and of itself.
After purchasing and storing bitcoin and altcoins, entering the DeFi space is the next step for any advanced user.