Background
In June, the airdrops of LayerZero and Zksyns reached the peak of extreme abuse. Various dramas unfolded one after another, creating a lively scene. First, LayerZero’s prolonged witch-hunt battle resulted in various absurdities and exposed the ugly faces of many individuals. It was a spectacle of “as soon as you finish singing, I come on stage,” all for the sake of airdrop profits that were barely visible. In the end, many reported accounts received only a few ZRO tokens in actual airdrop quantity, and no party benefited. However, the project gave a 10,000 ZRO airdrop to an unknown NFT. Then, Zksync airdropped a large number of tokens to associated addresses, and netizens discovered that the project’s stakeholders had directly taken away tens of millions of tokens.
The anti-abuse studio was counter-abused, and the individual investors who abused the system lost confidence. It is widely believed that the abuse industry is nearing its end and becoming a sunset industry in the cryptocurrency circle.
In fact, abuse itself exists in a gray area, and it is a harmful and unprofitable track in the crypto market. The original intention of airdrops was to reward genuine users, but abusers participate in airdrops solely for the purpose of receiving tokens, creating false data and bubbles on the protocol and blockchain. This provides false illusions for investors and entrepreneurs, which is detrimental to the industry’s development.
Web3 projects rewarding genuine users will become the norm. The more active a user is, the more airdrops they will receive, and the evaluation criteria will also expand, not just based on on-chain data.
We wait and see which direction future airdrops will take, but do not miss out on Jupiter, which is currently the most certain opportunity.
$60 Million Airdrop to be Launched This Week
On July 2nd, Jupiter’s official announcement stated that the ASR airdrop will be launched this week. Anyone who voted on JUP DAO proposals from March to June will receive passive staking rewards corresponding to their JUP holdings and voting activities, totaling $60 million.
The airdrop includes: 50 million $JUP, 7.5 billion $WEN, 7.5 million $ZEUS, 7.5 million $UPT, and 750,000 $SHARK. JUP tokens will be automatically staked, and the others can be claimed on the airdrop website after it is launched. Some netizens have calculated that for every 1 JUP staked, there will be an airdrop of 0.23U, but this data is not necessarily accurate and is for reference only.
There will be an additional 2.5 billion JUP tokens available for future airdrops, so it is highly necessary to pay attention to Jupiter.
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Introduction to Jupiter
Jupiter is a trading aggregator on Solana that has been operating since the last bull market. Its trading volume ranks among the top in the entire crypto market, and it can even surpass Uniswap when Solana is hot. Additionally, Jupiter has added derivative trading on the Solana chain, and its derivative trading volume also ranks first.
Jupiter’s token, JUP, has a total supply of 10 billion, with 40% allocated for airdrops. The first round of airdrops has already distributed 10%, and the remaining 30% will be distributed in three rounds. The official announcement recently stated that 30% of the team’s token allocation has been burned, reducing the total supply to 7 billion.
The first round of Jupiter’s airdrop can be considered the largest-scale airdrop in the crypto industry this year. The official did not conduct a witch-hunt but instead provided airdrops to everyone who interacted with the project. Some received a minimum of 200 tokens, while others received tens of thousands of tokens. The official did not use any persuasion, implication, or pressure on the users. Before the official airdrop of JUP, they also conducted a WEN airdrop, with some accounts earning over $300 at its peak.
In addition to the upcoming 50 million JUP airdrop, there will be an additional 2.5 billion JUP tokens to be airdropped. Therefore, it is necessary to pay close attention to Jupiter’s upcoming opportunities.
1. Contribute
In the previous round, contributors to the Jupiter community received separate rewards. Therefore, before the second round of airdrops, participants can contribute to the project according to their circumstances. For example:
– Be active in the official Discord channel and obtain contributor status.
– If you have original content creation abilities, you can write original articles about Jupiter and publish them in the media.
– Any other quantifiable or provable contribution behavior.
2. Participate in AMA
Jupiter frequently holds AMAs called JUP Call. During each AMA, a QR code is provided to submit a wallet address to receive Jupiter NFTs.
These NFTs are proof of deep involvement in the project and may hold significant weight in future airdrops.
3. Purchase and Stake JUP
JUP has dropped from its peak of 1.8 to the current level of 0.7. Investors can buy and stake JUP for governance voting.
Staking and voting link: https://vote.jup.ag/
Staking and voting also offer JUP airdrops and project airdrops, providing decent returns. However, it is important to note that there is a 30-day cooldown period when unstaking.
4. Trade Spot on Jupiter
Jupiter integrates major DEXs on the Solana chain, including Raydium, Orca, Lifinity, Meteora, and more. Almost all coins on the chain can be traded on Jupiter. Additionally, Jupiter provides features such as limit orders and dollar-cost averaging. These functions are worth trying.
5. Trade Derivatives and Provide Liquidity
Jupiter’s derivative trading adopts the GMX model, where users provide liquidity and earn profits as the counterparty in trades. Currently, Jupiter has the highest TVL among Solana’s derivative platforms, reaching $404 million, and JLP’s returns have reached 78%.
Engaging in derivative trading or providing liquidity on Jupiter to earn income is also a good choice.
Future airdrops are expected to consider multi-dimensional data, with on-chain data being just a part of it. Deep involvement in projects, contributions to project development, and long-term support for projects will all become criteria for airdrops.
Jupiter is currently the most promising spot and derivative trading platform, and there will be massive airdrops in the future. Deeply participating or choosing a suitable way to participate can yield future airdrops.
