This article was first published on Medium.

You may have noticed that Solana (SOL) value recently surged. It is partly due to some rumors about upcoming Solana airdrops. There is a lot of buzz around this topic, with titles announcing it could be higher than Arbitrum airdrop. Let’s see how to get these potential airdrops and what their real value could be.

Photo by GuerrillaBuzz on Unsplash

First of all, it should be noted that the upcoming airdrops will not likely come from Solana mainnet itself, but from DeFi (Decentralized Finance) or liquid staking protocols, i.e., from dapps (decentralized applications) built on top of Solana:

1. MarginFi: This DeFi protocol offers a range of actions that can earn you valuable points. From deposits and borrowing to referrals, every move you make contributes to your airdrop potential. The more active you are, the greater your chances of claiming a jaw-dropping reward.
2. SolBlaze: This liquid staking protocol, similar to Lido, offers staking across many validators, 217 as of early July. By staking your SOL on this platform, you earn liquid staking incentives and also increase your chances of receiving an airdrop in the form of ‘bSOL’ tokens. The more ‘bSOL’ you accumulate, the bigger your airdrop will be.
3. Cypher Protocol: This DeFi protocol allows to trade futures. By using the platform, you have the chance to earn $CYPH tokens, boosting your airdrop potential.
4. Night Market: By listing and trading NFTs on this platform, you have a chance to earn an airdrop of SAUCE.
5. Tensor: This NFT trading platform announced in March the launch of a second season airdrop that will only reward trading activity.
6. Block9: You can obtain $Power tokens by trading on this NFT platform, what could also power up your airdrop game…

The list may not be exhaustive. There could be other protocols offering potential airdrops. However, it is crucial to estimate the real value of these potential airdrops, which will be linked to the TVL (Total Locked Value) on the protocols above. The highest TVL is on MarginFi, and is around $9.87 million (USD) as of July 13, 2023. As we may compare this airdrop with Arbitrum airdrop, it means that we compare a TVL of $9.87 million on MarginFi with a TVL of $2.155 billion on Arbitrum. In other words, the potential MarginFi airdrop could be less than 0.5% of Arbitrum airdrop.

Let’s make some calculation: In March 2023, just over one billion ARB tokens were airdropped, which represents more than $1 billion in value. If MarginFi drops 0.5% of this amount, it will make a total value of $5 million. Solana chain has about 100k active users and its TVL is $291.65 million. Therefore, MarginFi represents only 3% of Solana’s TVL, and hence we can also assume that MarginFi has about 3k active users. In conclusion, an airdrop value of $ 5 million could represent more than $1600 per recipient.

As nothing has been confirmed yet by MarginFi or the other protocols above regarding the potential airdrop value, please do your own research.

You may click on this link to try MarginFi, earn points and get eligible to a potential airdrop.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial or investment advice.