5 Solana Airdrops You Should Watch

JUPuary has officially concluded and we declare it a success. A total of 1 billion JUP were airdropped to nearly a million individual addresses, with the top recipient eligible for $70,000 in free bonuses!

While Jupiter’s November 2 snapshot date excluded many new entrants to the Solana ecosystem from claiming JUP, they did not find themselves without rewards during JUPuary. Last week, every wallet that had interacted with Jupiter in the six months ending January 19 became eligible to claim $60 in WEN, Jupiter’s test token!

Jupiter’s two high-value claiming opportunities reinforce Solana’s airdrop momentum from last year and further strengthen the value proposition behind hunting for Solana airdrops, re-incentivizing airdrop hunters to look for the chain’s next large airdrop opportunity.

Fortunately, the Solana ecosystem is uniquely positioned with a rich collection of tokenless protocols that can provide plenty of quality airdrop opportunities for early adopters! Today, we’ll be bringing you a look at five of our favorite Solana airdrops so you can start preparing for future airdrops today.

marginfi

Intentionally written in all lowercase letters, marginfi aims to be a suite of smart contracts that creates a DeFi prime brokerage, facilitating peer-to-peer lending and portfolio management across blockchains. Users can access marginfi through a desktop browser or install it on a mobile device as a PWA!

The platform’s initial (and most popular) product, mrgnlend, is an overcollateralized money market protocol that allows anyone to lend or borrow assets on Solana. In September, marginfi expanded its product line with the launch of LST, a SOL liquid staking token with 0% commissions that provides depositors with network rewards and MEV withdrawal yields, and the protocol will soon offer its own LST-collateralized stablecoin, YBX.

Why we care:

MarginFi has an ongoing points program that rewards early users for lending and referring others to the platform! Protocols often implement points systems as a precursor to airdrops to help identify accounts that have contributed to their success.

Maximize your eligibility by:

• Lending and providing margin

• Borrow money from marginfi

• Use marginfi to stake

• Promote your Marginfi referral link

Phantom

While the Phantom Wallet has long been a cornerstone of the Solana ecosystem, it can also be used to manage crypto assets and access dApps on Polygon and Ethereum! The wallet is available as a browser extension and can also be downloaded as an app from the iOS and Android stores.

Phantom offers in-wallet purchase functionality, allowing users to purchase popular crypto assets from chains supported by various payment partners, including Coinbase, Robinhood, and Moonpay. Users can launch multiple Phantom subaccounts to isolate trading activity and create unique Ethereum and Solana address pairs for each account.

Why we care:

While there is no precedent for wallets airdropping tokens, and Phantom has not provided any indication that they are doing so, using Phantom as a wallet solution on Solana is an easy way to streamline your chain experience while maximizing your potential to receive airdrops!

Maximize your eligibility by:

• Download Phantom Wallet

• Top up your Phantom wallet with SOL

• Exchange assets in Phantom

Drift

Drift is an exchange on Solana with built-in money markets! Users first deposit funds into their Drift account, then unlock the protocol’s perpetual swaps (with up to 10x leverage), floating rate money markets, insurance collateral funds, LP strategies, and spot token swap products.

The combination of Drift’s native cross margin functionality and its money markets provides numerous benefits to users. All collateral deposited into Drift itself earns a yield, and any deposited asset can be borrowed or used to fund a trade, although long-tail assets have lower initial asset weights, limiting leverage to prevent unprofitable liquidations.

Why we care:

Drift has an active points program that rewards users for trading on the platform! Protocols often implement points systems as a precursor to airdrops to help identify accounts that contribute to their success.

Maximize your eligibility by:

• Depositing funds to Drift

• Drift Trading Perpetual Contracts

• Staking to secure Drift’s insurance fund

• Providing Drift liquidity

Tensor

Tensor is an NFT marketplace on Solana that supports Solana Inscriptions. The marketplace is primarily aimed at NFT traders like Blur, but the team is also working to make its platform more attractive to retail traders.

Tensor's Price Lock is a novel primitive that enables NFT traders to lock in a buy or sell price for 7 days. Users who fund the lock can earn extremely high returns from the premium paid on each trade, but will incur losses when the lock is purchased and expires in the currency.

When a long lock expires in the currency, the locked funder will receive an amount of SOL equal to the price they sold the lock for plus the initial fee paid by the buyer, instead of the original NFT they provided as collateral. When a short lock expires, the locked funder will receive the NFT from the set they sold the lock for, plus the initial fee paid by the buyer, instead of the SOL they provided as collateral. Funders who did not exercise their lock will receive their initial collateral plus the fees paid.

Tensorians is a group of 10,000 NFTs in the Tensor ecosystem that play a core role in the Tensor ecosystem, providing a 1.5x bonus to its points program and passively achieving 20% ​​of the points earnings!

Why we care:

Tensor has an active points program! Crypto projects use points programs to identify early adopters, often with the intention of rewarding those who contribute to the success of the protocol with tokens, which makes it likely that Tensor will seek an airdrop! Currently, Tensor’s points program is rewarding users for locking up funds.

Maximize your eligibility by:

• Buy NFTs on Tensor

• List NFTs for sale on Tensor

• Buy Tensor

• Buy Lock

• Funding lock-in

Jupiter

Jupiter’s main product is a decentralized exchange aggregator on Solana, offering spot and perpetual swap products! While Jupiter has its own frontend, many protocols (such as marginfi) use their aggregator widgets to facilitate in-app swaps.

Jupiter’s front-end provides the functionality for complex limit and DCA orders, and degens can fulfill their desire to trade with Jupiter’s perps, which offer up to 100x leverage for BTC, ETH, and SOL. Jupiter has also developed a token launchpad solution for newly created tokens to distribute airdrops.

Why we care:

While the snapshot for the first round of Jupiter airdrops has ended, the project will be distributing 40% of its token supply to the community through four separate airdrops. With only a quarter of these tokens distributed, you still have three chances to qualify for a JUP drop!

Maximize your eligibility by:

• Exchange assets with Jupiter

• Trade Jupiter Perpetual Contracts

• Setting a limit order on Jupiter

• Use Jupiter for decentralized investment