In recent times, many new DEXs and DEX aggregators have appeared.
Some of them could launch token airdrops in the same style as Uniswap.
Some candidates for such airdrops seem more interesting than others
Be on the lookout for airdrops in 2021, the most epic year of decentralized cryptomonarity to date.
In mid-September, Uniswap users were surprised by an airdrop of UNI tokens valued at around $ 1,200. Those who had used the Automatic Market Creator (AMM) crypto exchange before September 1, 2020 received the new tokens.
Gasoline costs skyrocketed when users tried to cash in Ether (ETH) and Tether (USDT) tokens. Since then, the price of UNI has fluctuated, but it remains among the top 50 crypto tokens, almost double in value than when it was launched (at least in US dollars).
Then, at Christmas, the 1inch Exchange platform (as well as its partner Mooniswap from the AMM) launched the 1INCH token. 1inch has a number of advantages over Uniswap, such as being able to aggregate the best courses from a plethora of different decentralized exchanges (DEXs) and having an easy to use governance page. What impressed its users the most, though, were the over 600 1inch tokens, worth $ 2.50 each, that appeared in their wallets.
The point is, to get these first installments, users only needed to make a relatively small transaction on the protocol. Will other exchanges then launch their tokens in the same way? Where can we find lucrative new Airdrops of decentralized exchanges?
First of all, why distribute free tokens?
Let’s start from the beginning. If these tokens are governance tokens, rather than increasing in value through a percentage of the fees, why might a company choose to perform airdrops?
In addition to the millions of dollars that token holders get “out of nowhere”, the initial coin offering (ICO, or Initial Coins Offering ) is no longer the preferred trend as it was in 2017.
As Ripple and other companies face backlash and bans in the United States for a token that is considered a security, companies don’t want to find themselves in legal trouble. There is no sale of tokens or securities if all tokens are distributed for free and have “no value” (as the executives of YFI have repeatedly pointed out ).
In other words, the airdrop of a token is a great way for a protocol to send money to itself and its backers without having to go through legal hubbub. According to the protocols, these airdrops allow real democratic governance. By owning UNIs, you can choose how the DEX crypto equivalent of the New York Stock Exchange makes its decisions. It still doesn’t hurt to make some money along the way.
Speculation about the next protocols has since echoed on YouTube’s crypto channels. With the market cap of $ 1.3 billion in UNI tokens engineered out of thin air, who wouldn’t want to profit?
A number of other Ethereum DEXs, like Uniswap, and DEX aggregators like 1inch have been suggested for possible aidrops. Since Uniswap and 1inch gave tokens to those who traded before a specific date, some have paid mountains of gas fees in hopes of hitting the jackpot with the next airdrop.
Here are five protocols that could achieve a future Uniswap type airdrop.
Metamask is Ethereum’s darling. Owned by ConsenSys, also on Ethereum, Metamask first worked with 1inch to add the ERC-20 token exchange directly in its add interface to the browser. Today, Metamask is researching multiple DEXs and aggregators, looking for the best course.
Its advantage? No fees for locking and unlocking, just choose the exchange you want and confirm it. Its downside? Its other costs are very high. That said, a governance token could be on the horizon.