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After $700M JUP Airdrop: Uncovering Solana's Next Big Three Projects Poised for Airdrop

Drift Protocol, Tensor, and Marginfi emerge as Solana's leading projects poised for upcoming airdrops, offering innovative opportunities for user participation in decentralized finance.

February 9, 2024 by Sheldon

In the dynamic world of cryptocurrency, airdrops have emerged as a pivotal event for projects and their communities, offering a unique way to reward early adopters and engage new users. Following the lucrative $JUP airdrop by Jupiter exchange, the Solana blockchain is now home to several projects with the potential to replicate this success. Here's a closer look at the top three Solana projects poised for upcoming airdrops that investors are eagerly watching

Drift Protocol

Drift Protocol stands out as a beacon of innovation on the Solana blockchain. As a decentralized exchange, it offers a robust platform for leverage trading, lending, borrowing, market making, and liquidity provision. With a significant $3.8 million in seed funding and a subsequent $23.5 million Series A round, Drift has cemented its position as a heavyweight in the DeFi space.

Drift has introduced "DRIFT TRADER POINTS," a system rewarding users for their activities on the platform, including trading volume and liquidity provision. The program will conclude at the end of March with a snapshot of past activities already taken, and users will be rewarded at the end of the season for past activities, insurance fund staking, and super staking.

Tensor

Tensor has rapidly ascended to become Solana's leading NFT marketplace, commanding over 70% of Solana's NFT trading volume. With $3 million in seed funding, Tensor's valuation is speculated to be closer to Blur, Ethereum's top NFT marketplace, signaling a solid market position. During the last couple of months, Tensor has surpassed Blur's trading volume on a number of occasions, highlighting Tensor's growing influence and potential valuation.

The platform's Season 3 Rewards initiative has introduced a competitive yet collaborative environment for users to earn points through bidding, listing, market-making, and liquidity provision. With no specific point counter but a weekly-refreshed leaderboard, Tensor encourages active participation. As hinted by the team, the impending close of Season 3 adds urgency for users to engage and capitalize on the potential airdrop rewards.

Marginfi

Marginfi is leading the charge in decentralized lending on Solana, focusing on risk management to ensure a safe and efficient platform for leveraging and maximizing capital. marginfi raised $3M in a seed funding round last year. With a TVL of $411 million and $540M assets supplied on the platform, Marginfi has shown explosive growth. The points system introduced last year is anticipated to transition into a token-based reward system, further enhancing its appeal.

Users can earn points through lending and borrowing, with a unique structure that rewards one point against each dollar a user lends. While riskier due to the possibility of liquidation, borrowing assets earn you even more points. The user earns 4 points against each dollar borrowed, albeit with the inherent risk of asset liquidation. Marginfi also encourages community growth through referral rewards, adding another layer to its comprehensive reward system. Inviting friends to Marginfi helps the platform grow and earns you points, fostering a sense of community and shared success.

The underlying theme here is participation. By being an active part of these ecosystems, you're potentially setting yourself up for a rewarding airdrop and contributing to the growth and success of these innovative platforms on the Solana blockchain. Whether you're a seasoned trader or new to the blockchain space, these projects offer a unique opportunity to engage with decentralized finance.

 

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