- According to Tyler Swope, Ethereum-based protocols could perform massive airdrops in 2021.
- MetaMask, dYdX, FURUCOMBO, and other protocols could launch governance tokens to encourage community participation.
The launch of the Uniswap protocol’s governance token, UNI, marked a turning point in Ethereum‘s DeFi. In mid-September this year, all users who had ever interacted with the smart contract on the decentralized exchange received at least 400 UNI, or $1,200.
Although UNI’s launch was considered a massive event, crypto analyst and trader Tyler Swope posted a video of potential airdrops that could not only bring profits to investors, but also surpass Uniswap’s $1 billion airdrop. The dYdX protocol, according to Swope, is the first to merit users’ attention.
The people behind it have mentioned that they are ‘looking’ at a token. It’s been talked about. dYdX has pretty significant volume, especially for a decentralized leveraged trading exchange. This is a big one.
If I were you, I would go check out dYdX and add some liquidity. Maybe put in a legal margin or a perpetual trade depending on where you are in the world. Nothing significant, just play with it because I think they could be airdropping tokens.
On the other hand, the FURUCOMBO protocol could also launch an airdrop that Swope recommended keeping an eye on. The protocol is “a combination of other protocols” with similarities to Zapper. According to the official website, Furucombo is a “tool built for end-users to optimize their DeFi strategy simply by drag and drop”. It visualizes complex DeFi protocols into cubes, while users setup inputs/outputs and the order of the cubes. Then Furucombo bundles all the cubes into one transaction and sends out.
More promising airdrops for Ethereum’s DeFi
The popular crypto wallet MetaMask is another protocol that launched an aggregation tool, MetaMask Swaps. Therefore, Swope believes it is highly likely that the wallet developed by ConsenSys will release its own token to facilitate user transactions.
Furthermore, the crypto analyst mentions the Paraswap protocol, Polymarket and Catnip. These protocols have gained traction in recent months, and Swope believes a governance token will come “sooner rather than later” to expand into more markets.
The analyst also has “a sense” that the DeFi Saver and Foundation.app protocols are also working on a token. Both have “groundbreaking” DeFi tools and could issue governance tokens to attract more users. Finally, Swope recommended keeping a close eye on the Dark Forest protocol because key people in the crypto space have decided to participate in the project.
This one’s Dark Forest. It’s basically a real-time strategy game built using zk-SNARKs and very popular. A lot of the major Ethereum heads are involved with Dark Forest so I would definitely get involved as if they dropped a token somehow, that would be big. They just went into version 0.5 so once they get to version 1.0, token, possibly.