The easiest way to make money in crypto, especially if you do not already have vast amounts of money, is to qualify for airdrops.
It is not uncommon for users of new projects to receive thousands of dollars just for interacting with the dApp or blockchain frequently.
While this makes airdrop hunting very tempting, I suggest not wasting your time on bad projects just for a potential airdrop. Instead, identify projects you actually like and see if you can make an airdrop play out of it.
The best example of this I have experienced personally is Gods Unchained, a trading card game similar to Magic: The Gathering.
I started playing Gods Unchained a few years ago simply because I liked the idea and might not even have heard about airdrops at that point in my crypto journey. Since then, playing Gods Unchained has earned me around 8000$ from the $IMX and $GODS airdrops as well as the currently claimable $STARK airdrop.
In this article, I will talk about 3 of my favorite crypto projects and how they might qualify you for airdrops.
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Radiant Capital
This is easily my favorite project right now!
Radiant is a cross-chain money market that allows you to borrow and lend crypto as well as lock funds long-term to earn a share of the platform's revenues.
From their website:
Radiant aims to be the first omnichain money market where users can deposit any major asset on any major chain and borrow various supported assets across multiple chains.
The Radiant DAO’s primary goal is to consolidate the ~$22 billion of fragmented liquidity dispersed across the top ten alternative layers (source: DefiLlama).
Lenders who provide liquidity to Radiant are interacting and providing utility to the platform. In addition, lenders can capture the added value from the communities’ engagement through the native token $RDNT.
Borrowers can withdraw against collateralized assets to obtain liquidity (working capital) without selling their assets and closing their positions.
While lending and borrowing might be relevant for some of you, I mostly just lock my $RDNT for 6 or 12 months and earn a decent chunk of Radiant’s fees in a basket of blue-chip cryptos.
If you want to learn more about how to do this, get in touch on X; I am always happy to help my followers.
In terms of airdrops, Radiant has already rewarded me greatly via the $ARB airdrop, which has yielded anyone who followed my strategy a few hundred or thousand dollars worth of $ARB.
But Arbitrum is not the only airdrop I expect to get via Radiant. As you can see on the screenshot posted above, Radiant runs on LayerZero, which has already announced there will be a token in the future. Since the “omnichain” narrative is one of the most promising plays right now, I expect the LayerZero airdrop to be at least as big the the Arbitrum airdrop. Interacting with Radiant frequently should give you a decent boost.
SpaceFi
I came across SpaceFi while looking into the zkSync ecosystem, which I expect to do an airdrop either this year or next.
Space has created a fully integrated system that strives to create sustainable chemistry between the products. In the Space universe, you can earn DeFi rewards through liquidity mining, trading mining or minting SPACE tokens into NFTs for higher revenue, transaction fee dividends, premium trading, and governance rights, etc. At the same time, you can also create a Spacebase, invite fans and friends to join, both sides get additional rewards. Space will also be on the Starter platform to incubate and support outstanding ecological projects, and jointly build Space.
As you can see in the excerpt from SpaceFi’s website, there is a bit more gamification than at Radiant which might make the experience more exciting to some of you.
I don´t use all the products SpaceFi has to offer; I mainly provide liquidity in a few pools and collect $SPACE tokens and a decent APR this way. For anyone who wants to dig a bit deeper, I highly recommend spending more time exploring SpaceFi and also looking into their planet NFTs.
The airdrop opportunity here is pretty straightforward:
SpaceFi is live on zkSync as well as Scroll and both chains are expected to do significant airdrops in the future. Use zkSync on both chains to increase your chances for increased airdrop allocation. If you are boring like me, add some liquidity to LPs on SpaceFI and collect your rewards every couple of weeks. If you want some more excitement, dig deeper into the other products, build space bases, get NFTs, and immerse yourself in the SpaceFi community.
Izumi Finance
I have only recently started interacting with Izumi Finance while looking into Scroll and love the user experience.
iZUMi Finance is a multi-chain DeFi protocol providing One-Stop Liquidity as a Service (LaaS). Its philosophy is that every token deserves better on-chain liquidity in an efficient and lasting way. As our name “iZUMi” in Japanese signifies, our ultimate goal is to help every partner and token to enjoy on-chain liquidity like spring water, continuous and long-lasting for centuries.
I started adding liquidity to Izumi pools about a week ago and, so far, love every aspect of the dApp. The design is super intuitive, everything is fast, and I collect a decent amount in fees.
The Scroll airdrop is one of the highly anticipated upcoming airdrops and Izumi is a significant part of my preparation for it.
I am in no way an expert in Izumi, yet, but I will spend a significant amount of time on it in the next weeks and I´ll invest a lot more money there.
Conclusion
If you are a small-ish investor and want to earn money in crypto, there is no way around airdrops; they are your best chance by far.
The trick is to identify suitable projects early on and interact with them frequently.
I hope, my suggestions help you position yourself for a few of the best upcoming airdrops and you´ll be as successful as the people who followed my strategy for the Arbitrum airdrop.
Make sure to not miss any updates, follow me on Medium and X, and feel free to get in touch on X if you need any help.
