Drift Airdrop Strategy: Trade, Lend, Borrow, and Swap to Earn An Airdrop
Before we get started, this is not a recommendation or endorsement to buy any token(s) mentioned.
For weeks, Solana has occupied all of our attention with one of the largest airdrops in the history of crypto thanks to Jito.
10% of its 1 billion token supply was airdropped all at once, worth an estimated $200M the day of JTO token launch and now closer to $290M at a price of $2.90/JTO.
Stories of individuals receiving $10k-$80k as an airdrop went viral and only compounded the mania of interest in Solana DeFi.
If we consider which existing Solana DeFi protocols have the most liquidity, the most common use cases, and have yet to tokenize, it leaves us with a short list of protocols to test drive with some liquidity in the hopes we might earn a future airdrop.
In the case of JTO, users earned Jito Points and were split into tiers, meaning users didn’t have to deposit the most liquidity or stake the longest. The smallest airdrop was worth ~5,000 JTO tokens for just 100 Jito Points.
This same approach to scoring based on ranges could play out with other Solana airdrops, which is why we'll cover Drift today!
Launched in 2021, Drift Protocol is a decentralized exchange built on Solana to enable transparent and non-custodial trading of cryptoassets. With cross-margin and multi-collateral accounts supported, users can trade perpetual swaps with up to 20x leverage, borrow or lend at variable rate yields, stake / provide liquidity, and swap spot tokens.
Today, Drift is a top 10 DeFi app ranked by TVL on Solana with $63M.
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