Top airdrop opportunities & rewards

Airdrops are the treasure hunts of the crypto world. Everyone wants free crypto tokens and airdrops are the fastest way to get it.

In 2024, the airdrop scene is the hottest, and this rally is led by Solana ecosystem airdrops. This article will discuss the best Solana (SOL) airdrops, how they work, and how you can get your hands on the upcoming Solana airdrops in 2024.

What is airdrop?

Airdrops are a marketing strategy for distributing free crypto tokens to announce the existence of blockchain projects to cryptocurrency investors. The idea behind giving away free tokens is simple: build a fan base, create excitement, and centralize ownership of the tokens.

Each cryptocurrency project has its own set of requirements to qualify for the airdrop. Some projects give you tasks like following them on social media and republishing their posts to increase their online presence, while others require you to actually use their platform by connecting your cryptocurrency wallet. All these progresses are calculated and crypto tokens are airdropped to the user’s wallet on the predetermined airdrop date.

Why are Solana airdrops popular?

Solana airdrops have received more attention compared to other projects, mainly due to the track record of their airdrops.

A great example of this is the Jito airdrop that took place in December 2023. Jito, a DeFi platform in the Solana ecosystem, airdropped $225 million worth of free JTO tokens to Solana users worldwide. Another great example is the airdrop of Solana-based meme coin Bonk, which was valued at a total of $1.3 billion at an all-time high price in December 2023.

In addition to this lucrative airdrop history, Solana’s low transaction fees are the icing on the cake. Platforms like Ethereum, where gas fees touch the sky during high network demand, can turn out to be a losing venture for many airdrop participants as they spend more in gas fees than the actual airdrop.

On the other hand, Solana’s high transaction speeds and low gas fees attracted the attention of many users, with Raydium, Star Atlas and many other projects performing successful airdrops on its platform.

Now that we understand that Solana airdrops are not only popular but also an effective way to get free tokens, let’s discuss how airdrops work on the Solana platform.

How do Solana airdrops work?

Solana airdrops have a similar working procedure as other airdrops. However, projects benefit from Solana’s low fees and high-speed transactions, which attracts more users to Solana-based projects. A typical Solana airdrop usually works like this:

1. Eligibility criteria

Cryptocurrency projects will announce their eligibility criteria on their official websites and/or social media pages. It could be about holding a certain amount of Solana tokens or doing a series of tasks that directly promote the project on social media platforms. Whatever the case, you should make sure you complete the specified tasks to take full advantage of the airdrop when it is announced.

2. Snapshot duration

Apart from the eligibility criteria, a cryptocurrency project also announces the snapshot period. This is when eligible wallet addresses that meet the airdrop eligibility requirements are registered.

For example, if a project says you must hold 2 SOLs in your wallet to qualify for the airdrop, you must hold 2 SOLs until the snapshot deadline passes. If you withdraw your 2 SOLs before the specified date, you will not be eligible for the airdrop.
3. Token distribution

4. Airdrop request

Once the snapshot is taken, the project announces that the airdrop is live for eligible users. While many Solana-based projects do automatic airdrops to eligible wallets, sometimes a project may ask you to visit its website or link your wallet to a specific dApp to claim your airdrop tokens.

5. Trading of tokens

Once users receive their tokens, they can keep them in their wallet or trade the token on a crypto exchange once it becomes tradable.

The best Solana airdrops to watch in 2024

There are plenty of Solana airdrops to expect in 2024, but here are the top three to look out for:

1. Kamino

Kamino is the largest lending platform on Solana, with Total Value Locked (TVL) of $1.598 billion at the time of this writing. It gives users the opportunity to borrow USDT by depositing SOL tokens and also rewards points for these trading tasks.

Every 3 months, KMNO tokens are rewarded to active users based on the amount of liquidity they provide to the Kamino platform. Providing liquidity with KMNO tokens allows users to earn rewards and market making fees.

In August 2024, Kamino completed its season 2 airdrop, allocating 3.5% of its supply to rewards.

Kamino Season 2 has ended and a total of 350,000,000 KMNO will be distributed to Kamino users in mid-August

This represents a distribution of ~$13.5 million, providing a significant benefit to users who staked KMNO throughout the season.

Airdrop checker, S2 analysis and S3 information are below👇 pic.twitter.com/znv95fVXp8

— Kamino (@KaminoFinance) August 2, 2024

As of now, season 3 is in effect, and although specific airdrop details have not been announced, the Kamino project is aiming for a valuation of $10 billion this season, signaling similar airdrop opportunities this season as well.

2. Meteora

Meteora is a decentralized finance (DeFi) project that offers dynamic liquidity protocols on the Solana blockchain.

While no official airdrop announcement has been made, Meteora is currently running a points campaign that can help users obtain upcoming MET tokens ahead of launch. At the time of this writing, Meteora points were listed on whale markets, which gave users the option to buy or sell their points for the anticipated MET airdrop.

A popular airdrop hunter called CC2 is also awaiting the Meteora airdrop by EOY.

I mostly look forward to it. @MeteoraAG Airdrop made by EOY for various reasons:

▫️ Unlike EVM airdrops, this time required you to have a sufficient amount of brain cells; farm floors are allergic to providing liquidity
▫️ TVL never showed any foam
▫️ Jito had a TVL of $391 million… pic.twitter.com/WaAuY9pYND

— CC2 (@CC2Ventures) October 9, 2024

3.dMarqt

dMarq is an AI-powered decentralized marketplace built on the Solana blockchain. It is currently running a Community Challenges Campaign to reward early users ahead of the token launch, which is expected to happen after the token generation event (TGE) in 2025.

According to the whitepaper of the project, airdrop tokens will be given to users who are actively involved in the platform. To get a chance to participate in the airdrop, visit dMarqt’s Community Challenges Campaign page, connect crypto wallets, and follow the steps to earn rewards leading up to the official token release.

How can you stay informed about future Solana airdrops?

Timing is everything in airdrops. Being late means you could miss a big opportunity, especially on projects that require you to do tasks and have a leaderboard to determine who gets the most coins.

It is recommended to follow all social media platforms of your desired Solana airdrop project, including X, Telegram, Discord and others. Another strategy is to engage with the Solana airdrop projects community so you don’t miss important details about the airdrop.

There are many Solana airdrop trackers, such as DappRadar, which provide a great platform to track Solana project airdrops. Solana Guides is another website that lists many airdrop opportunities for cryptocurrency projects. Airdrops.io also provides a list of potential Solana-based projects that may announce airdrops in the future.

What to expect from future Solana airdrops?

The future of Solana airdrops appears to be in good hands, as the platform’s low fees and fast transactions are quickly attracting new cryptocurrency projects.

Future Solana projects are expected to continue to reward users for early participation through testnets, liquidity provisions, or completing specific tasks.

As seen with recent airdrops like Kamino and Meteora, attending these events and staying in touch with project updates can increase the chances of receiving tokens in the future. You can expect to see new and exciting opportunities for Solana airdrops as more projects launch in 2024.