Crypto airdrops have distributed over $4 billion in 2024, with significant contributions from Jupiter, Starknet, and Notcoin. Each of these projects has handed out approximately $1 billion in tokens. Other projects, including Wormhole, Ether.fi, FriendTech, and Wen, contributed to the financial surge.
Historically, the largest airdrops came from projects like Uniswap, Apecoin, and dYdX. According to a CoinGecko report, the total value of all airdrops up to December 2023 was $26.6 billion. Including the 2024 airdrops, this figure rises to an upper bound of $34 billion.
The Ethereum Layer 2 network ZKsync will launch its airdrop next week. In June, Solana-based decentralized exchange Zeta Markets will distribute its tokens. ZK Nation stated that many are pleased with their airdrop allocations and appreciate the support in addressing concerns and verifying details to prevent errors.
Moreover, EigenLayer restaking protocol on Ethereum has already started its airdrop, though tokens will be transferable later in the year. LayerZero, a cross-chain messaging protocol, is also preparing for its airdrop, though the exact date remains unannounced.
Also Read: EigenLayer Airdrop: What Is The Controversy About EIGEN Token?
These airdrops are crypto projects’ to engage their communities and encourage adoption as they offer financial motivation to users and distribute governance tokens that allow community control.
Airdrop farming faces challenges from individuals using multiple wallets to benefit from tokens. Projects like LayerZero and ZKsync are actively working to exclude these farmers. LayerZero offers bounties for reports on potential farmers, while ZKsync has removed numerous farmer wallets and imposed caps on large distributions.
