Sirwin
Sirwin

Review of the Recent Airdrops from 5 Major Crypto Projects

By BlockWiz | BlcokWiz | 21 Feb 2024


On January 20, 2024, Starknet launched its airdrop. According to data from the Starknet blockchain explorer Voyager, this airdrop distributed a total of 500 million native STRK tokens, with a claim deadline set for June 20. As of this writing, 390 million tokens have been claimed. Simultaneously, crypto projects including AltLayer and Jupiter have launched their own token airdrops to encourage user adoption and network growth.

This article provides an overview of the recent airdrop status of five major crypto projects for reference.

Starknet

Project Overview

Starknet is an innovative Layer 2 solution employing Validity Rollup (also known as ZK-Rollup) technology to significantly enhance Ethereum’s scalability without compromising security and decentralization. By bundling multiple transactions into a single off-chain STARK proof and then submitting this proof as a singular transaction to Ethereum, Starknet achieves higher throughput, faster processing speeds, and lower costs. This process maintains the robust security of Ethereum as the settlement layer.

Airdrop Overview

On February 20, 2024, Starknet initiated the first round of native token STRK distribution through its foundation’s Provisions program. Originally set to distribute 700 million STRK tokens, this was later adjusted to 580 million. The target group includes various key segments: Starknet ecosystem supporters and users, Ethereum network builders and maintainers, and non-Web3 open-source developers, such as GitHub code contributors. The airdrop will last four months, ending on June 20.

According to Voyager data, as of this writing, 390 million STRK tokens have been claimed by over 448,000 unique wallet addresses, accounting for only 42% of the eligible addresses.

It’s also noted that the majority of claimed STRK tokens originated from Starknet contracts, accounting for 86%, with the remaining claims distributed among three other contracts: Ethereum 13%, StarkEx 7%, and GitHub 17%.

Token Price

Based on CoinMarket data, the historical peak price of STRK was 3.4 USDT.

However, the price has now fallen to below 2 USDT, showing an overall decrease of 16.72%. Meanwhile, the trading volume in the last 24 hours has remained stable, not significantly affected by the price change.

AltLayer

Project Overview

AltLayer is an innovative, open, and decentralized protocol aimed at improving blockchain rollups through Restaked rollup technology. The protocol integrates various existing rollup technologies, such as OP Stack and Arbitrum Orbit, offering enhanced security, decentralization, interoperability, and rapid crypto-economic finality through the EigenLayer’s restaking mechanism.

Airdrop Overview

On January 25, 2024, AltLayer launched its Season 1 airdrop claim, distributing 300 million of its native asset ALT, which represents 3% of the total supply. The aim is to reward early participants, including Altitude event attendees, OG Badge and Oh Ottie! NFT holders, EigenLayer restakers, EigenLayer ecosystem partners, and Celestia stakers. The airdrop claim period was set from January 25, 2024, to February 25, 2024, with unclaimed ALT tokens returning to AltLayer’s treasury.

According to Dune Analytics, 67.2% of ALT has been claimed to date, with the largest single claim being 1,291,752 ALT and the smallest at 200 ALT. The total number of participants (unique wallet addresses) in this claim is approximately 218,000. Specifically for Celestia stakers, their dedicated airdrop opened for claims on February 20, 2024, at 16:00, with the deadline for claims set for March 5, 2024, at 16:00.

Token Price

The initial price of ALT was approximately 0.3 USDT.

Based on CoinMarketCap data, as of this writing, the price of ALT has exceeded 0.5 USDT, with a price increase of over 90%, and the trading volume has increased by more than 50% in the last 24 hours.

Jupiter

Project Overview

Jupiter is a decentralized exchange aggregator (DEX Aggregator) based on Solana, aggregating liquidity from multiple decentralized exchanges (DEXs) to offer users the best trading prices and routes. With features including trade aggregation, limit orders, and Dollar-Cost Averaging (DCA), Jupiter aims to be a one-stop platform for discovering optimal exchange rates.

Airdrop Overview

On January 31, 2024, Jupiter officially launched its native asset JUP airdrop claim. The JUP airdrop consists of four rounds, distributing 40% of the total token supply, with the first round on January 31 distributing 1 billion JUP tokens. Eligible users are wallets that interacted directly with Jupiter before November 2, 2023, totaling 955,000.

According to Dune Analytics, the current number of unique wallet addresses participating in the claim is 582,000, with 40% of eligible addresses yet to participate. A total of 730 million JUP has been claimed, with the highest profit exceeding $130,000.

Token Price

According to CoinMarketCap data, JUP’s all-time high was $1.27 USDT.

On the day of January 31, JUP’s price spiked from $1.6 USDT to $2.04 USDT quickly, then sharply dropped to as low as $0.63 USDT, marking a daily decline of 57.66%. The price has continued to fall since, standing at just $0.49 USDT as of this writing, representing an overall decline of 69.37%. In the last 24 hours, the market trading volume decreased by 9.57%.

ZKFair

Project Overview

ZKFair represents a novel innovation on Ethereum — the first ZK-Rollup project based on Polygon CDK and Celestia DA. By utilizing the stablecoin USDC to pay for gas fees, it significantly enhances blockchain scalability and user experience. Compared to other ZK-Rollup projects, ZKFair stands out for its commitment to 100% community-driven operations and principles of fairness.

Airdrop Overview

ZKFair has pledged to distribute all its native ZKF tokens to the community, allocating 75% for gas fee airdrops and 25% for community airdrops. On December 24, 2023, ZKFair launched a two-day gas fee airdrop in four stages, distributing a total of 7.5 billion ZKF tokens. The airdrop rules allowed users to claim ZKF by spending gas fees, with the total gas fee value set at 7.5 billion USDC. If the gas fees spent by users exceeded this total amount, they would be proportionally reimbursed after the event concluded.

Following the end of the gas fee airdrop, the community airdrop commenced, targeting Polygon zkEVM users, contributors to other ZK-L2 projects, Lumoz loyalty point holders, and contributors to the ZKFair protocol code, distributing a total of 2.5 billion ZKF tokens.

Token Price

According to CoinMarketCap data, the all-time high price of ZKF was $0.025 USDT.

Despite ZKF prices being above the initial price throughout January, the token has been on a downtrend since February. As of the time of writing, it is priced at just $0.0085 USDT, marking an overall decline of 34.93%. In the last 24 hours, the market trading volume has increased by 18.51%.

Manta Network

Project Overview

Manta Network is a decentralized finance (DeFi) platform dedicated to privacy protection, built on the Substrate framework. It aims to offer users a highly private trading experience while ensuring interoperability with other blockchains such as Ethereum. The project emphasizes privacy and scalability, providing developers with a secure environment to build and deploy dApps.

Airdrop Overview

On January 18, 2024, Manta Network launched the “Into the Blue” airdrop, lasting for 180 days, to reward the community users who have supported Manta Network. The airdrop distributes 50 million of its native asset MANTA, accounting for 5% of the total supply. The recipients include supporters and users of the Manta ecosystem on Manta Atlantic and Manta Pacific, as well as participants of The Great Treasure Hunt event.

Token Price

According to CoinMarketCap data, the all-time high price of MANTA was $3.82 USDT, and it continues to maintain a price above its initial offering.

As of the time of writing, the current price of MANTA is $3.11 USDT, with an overall increase of 36.72%, and it remains on an upward trend. The market trading volume has risen by 2.72% in the last 24 hours.

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