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Ten DeFi Protocols Rumored for Token Airdrops

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Ten DeFi Protocols Rumored for Token Airdrops | Crypto Briefing



















Which DeFi platform will provide the next big token giveaway? Here are ten contenders.


Key Takeaways

  • In the last few months, Uniswap and 1inch have given their users the equivalent of thousands of dollars in token airdrops.
  • Several other projects are rumoured to do the same in the future.
  • To be eligible for any future airdrops, DeFi users should experiment with a variety of nascent protocols.

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Following 1inch’s well-received token airdrop, Crypto Briefing experimented with several other protocols that may be next to launch a token.

Here, we list our top ten.

Early Users Reap Airdrops

Thousands of crypto users received an unexpected gift on Christmas Day when the 1inch DEX aggregator airdropped a supply of tokens to its early supporters.

Uniswap pulled a similar move back in September; the 400 UNI tokens its users received initially traded at $1,200. Today, they’re worth over $2,000.

Uniswap and 1inch won’t be the last DeFi protocols to launch a token this way. Just this week, the “DeFi lego” tool Furucombo announced its plans to distribute tokens to early users starting this month. Several others are rumored to be planning a token release, which could mean free tokens to early users.

It’s important to note that nothing is guaranteed because the eligibility criteria are so hard to predict.

There’s an obvious takeaway that many DeFi users learned last year, though: get involved early, actively use the infrastructure, and you could be generously rewarded.

Here are the most-anticipated potential airdrops.

#10 – ParaSwap 

ParaSwap is a DEX aggregator that works similarly to 1inch.  The fees can be expensive, though the team recently announced some improvements, meaning gas is reportedly around 20% cheaper. 

On Telegram, the team has mentioned that there’s no “current airdrop,” which could be a hint that things may change in the future.

Best for: Fast swaps between tokens.

#9 – dYdX 

dYdX is an exchange that enables spot, margin, and perpetual trading within DeFi. But there’s also a fairly high entry barrier compared to a DEX like Uniswap: many of the trades require a minimum of 1 ETH, and the gas fees can also be astronomical.

To use the protocol without making a bigger outlay, Crypto Briefing opted to use the “Borrow” function to borrow DAI. This involved providing ETH as collateral, as well as various transactions that spent gas.

dYdX is also rumored to have its own token in the pipeline, though it’s hard to predict whether this would qualify for an airdrop.

Best for: Margin and perpetual trading.

#8 – Set

Last year, Set caught the DeFi community’s attention with the launch of DeFi Pulse Index, an automated set portfolio combining many of the “blue chips” of DeFi.

DPI weighs each asset’s capitalization based on its performance, making it an easy way to gain exposure to DeFi without regularly checking price charts. The protocol offers two others: “ETH WBTC Yield Farm” and “ETH USD Yield Farm.”

If the team decides to launch a token, as some have suggested, it’s possible that users of the platform’s token sets could receive a payout.

Best for: Easy exposure to DeFi blue chips.

#7 – Zapper

If your crypto assets are stored across multiple addresses, Zapper is one of the best ways to track your holdings.

The interface gives users a portfolio overview via one easy-to-read dashboard, but it’s more than a price tracker. It’s also possible to invest by connecting a wallet and providing liquidity to integrated protocols like SushiSwap, Curve, Balancer, or exchange between different tokens with relatively affordable fees.

Some have speculated that Zapper may plan to launch its own token, so using one of its integrated features could be a good strategy for getting included in any airdrop.

Best for: Portfolio management, liquidity provision.

#6 – Opyn 

Options have recently gained significant ground in DeFi, though Opyn were pioneers in the space (despite some troubles). Their protocol lets users manage risk by buying put and call options against their holdings. Options are redeemed in the form of an “o” token, and they can also be traded.

Recently, Opyn launched V2 of its platform. Could a governance token be next?

Best for: Managing risk, options trading.

#5 – Zerion 

Zerion offers a similar experience to Zapper: users can connect with a wallet such as MetaMask or Coinbase or track their portfolio by entering the address or ENS name.

The interface provides an overview of the portfolio performance and access to trading, exchanging, liquidity mining, and more. The exchange feature integrates several DEXes with high liquidity, which might be the simplest way to interact with the app.

Zerion may launch a token in the future, so it could be worth using it for trading and other activities in the meantime.

Best for: Portfolio management, liquidity mining.

#4 – MetaMask 

Most regular DeFi users are well accustomed to MetaMask: the app now has over 1 million monthly users. It recently added a swap feature, so users don’t even need to open up an AMM like Uniswap to make a quick trade.

It’s thought that MetaMask may issue a token at some point in the future, so using the wallet for a few easy swaps could end up being a worthwhile investment.

Best for: DeFi, token swaps.

#3 – Instadapp

Instadapp is another portfolio management tool. It provides access to strategies like leveraging, borrowing, and collateral swapping in DeFi staples MakerDAO, Compound, and Aave. However, Crypto Briefing used it to make a one-off AAVE deposit.

If Instadapp runs a token airdrop, that could mean a payout for any DeFi user who previously used the app.

Best for: Lending and saving with DeFi staples.

#2 – DeFi Saver

DeFi Saver can be accessed by all of the usual DeFi wallets.

Once connected, users are presented with a clear overview of each of their holdings. DeFi Saver integrates MakerDAO, Compound, and Aave as well as an exchange and “Smart Wallet” feature for earning interest across multiple protocols.

That said, Crypto Briefing only went as far as using the exchange to trade ETH for SNX. 

Best for: Portfolio management, interest-earning.

#1 – OpenSea

On OpenSea, traders exchange digital assets such as trading cards, art, and ENS names. It’s been described as an eBay for collectible cryptocurrency tokens.

OpenSea may issue a token to its early adopters. Trading on the marketplace could be an effective strategy to gain access to any future airdrop. 

Best for: Digital assets trading, non-fungible tokens (NFTs).

Speculating on Airdrops

Naturally, the above list is simply an estimate of which protocol may be primed to release a native token to users. That being said, experimenting with decentralized protocols for their own sake is an excellent educational investment.

After buying and holding Bitcoin and altcoins, entering the DeFi realm is the next step for any advanced user. Before entering, of course, users should be aware of the various pitfalls and risks associated with the niche.

Disclosure: At the time of writing, the author of this feature owned ETH, UNI, DPI, SNX, MKR, COMP, and AAVE, among several other cryptocurrencies. 

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Source: https://cryptobriefing.com/top-ten-defi-token-airdrops/

Blockchain

DeFi surge, rising TVL and new partnerships underpin Ren’s 100% rally

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Interoperability between blockchains is rapidly becoming one of the buzz phrases being thrown around when discussing decentralized finance and the coins most likely to rally during an altcoin bull run. 

The rapid growth of DeFi, its ever expanding total value locked and soaring ETH gas fees further highlight the sector’s need for a layer 2 option that also supports the ability to transact value across different networks.

REN’s open protocol is designed specifically to fill this need by providing interoperability and liquidity between the top blockchains including Bitcoin, Ethereum and Zcash.

Over the past three weeks the price of REN has increased by more than 200%, going from $0.251 on Dec. 27 to a new all-time high of $0.778 on Jan. 20 driven by a record $369 million in 24-hour volume.

REN/USDT 4-hour chart. Source: TradingView

Three reasons for the recent price surge in the price of REN include the announcement of a collaboration with Google, the continued increase in total value locked on the platform and the ability to earn passive income in multiple cryptocurrencies through the operation of a darknode.

Google software pivot boosts sentiment, addresses RENvm scaling issues

On Jan.19 the REN team tweeted:

Ren has been researching & building on @Asylodev, an open and flexible framework by @Google. @GCPCloud confidential computing relaxes RenVM’s economic constraints, allowing for an unbounded scaling solution. #RenVM.”

Not long after the tweet, REN price began to rally to a new all-time high. As mentioned in the tweet, Asylo is an open and flexible framework from Google designed to help build portable applications that run on Secure Enclave hardware.

The secure enclave hardware allows users to run general-purpose applications in a secure environment where both the data, and the application itself, cannot be compromised by anyone, including the user. This makes for a more secure experience for all parties involved and helps protect against malicious code and backdoor attacks.

Asylo also makes it possible to port an application from one type of hardware to the next, meaning that developers can support multiple implementations with relative ease, including Intel implementations, AMD implementations, and any others that appear in the future. The diversity of choice this allows is an important feature to ensure decentralization on the network.

Total value locked soars to a new high

Community engagement and added value are key factors when it comes to the long-term success of a blockchain project.

Since the release of the Ren virtual machine mainnet (RenVM) in May 2020, engagement on the platform has steadily increased as Bitcoin holders now had another way to bring their BTC to Ethereum and the growing DeFi space.

As seen in the chart below, the total value locked on the Ren platform reached a new all-time high of $653.6 million on Jan. 20 and a total of 14,670 BTC are locked on the platform to create renBTC.

Total value locked in RenVM. Source: DeFi Pulse

The list of assets that RenVM supports continues to grow with BTC, Bitcoin Cash (BCH), Zcash (ZEC), Filecoin (FIL), Terra (LUNA), Dogecoin (DOGE) and Digibyte (DGB) currently available to transact on the Ethereum and Binance blockchains.

Development is currently underway to make it possible to interact on the Polkadot (DOT), Solana (SOL) and Cosmos (ATOM) networks as well, which would further enhance the interoperability provided.

Darknodes, passive income and a decreasing supply

The third driving force behind the recent price appreciation of REN relates to the Ren token use case and how it can help users earn passive income. RenVM is a network of virtual computers that make up a virtual machine, which are also referred to as Darknodes.

REN token holders who wish to operate a darknode need to lock up 100,000 REN which wiil enable them to process transactions on the network and earn a fee in the form of the token transacted. Thus, a darknode operator has the opportunity to earn passive income in the form of multiple different cryptocurrencies from one location.

Ren Darknode Statistics. Source: Renproject

As can be seen in the above graphic, 17.13% of REN’s total supply is currently bonded on the platform and supports the operation of darknodes.

During the most recently completed cycle, the network as a whole earned $839,128 in fees in the form of BTC, ZEC, FIL and BCH. The total network fees collected since the launch of the RenVM equals $2.975 million.

The continued addition of new tokens and interoperability with new blockchains will likely see increased usage of the network and an increase in the amount of fees earned. At the current price of $0.6157 it costs $61,570 to operate a darknode.

RenVM total users over time. Source: Dune Analytics

As activity on the network increases, the amount of fees generated will also increase, making it even more lucrative for token holders to operate a darknode. This has the potential to lead to further price appreciation from REN as every new darknode results in a direct decrease in its circulating supply.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Source: https://cointelegraph.com/news/defi-surge-rising-tvl-and-new-partnerships-underpin-ren-s-100-rally

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Denarius Announces Beta of Kronos Wallet and Private Decentralized Chat

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Kronos, a new application beta from the developers of Denarius (D), provides people a way to socialize and transact without a central authority. This new proof of concept takes decentralization, blockchain and privacy to the next level.

“Blockchains like Bitcoin and Ethereum have paved the way of innovation for cryptocurrencies and new applications like Denarius (D): Kronos, to bridge the gap for a faster and cheaper way to transact and utilize cryptocurrency.” — James R. (Cryptocurrency User)

Kronos, a new application beta from the developers of Denarius (D), provides people a way to socialize and transact without a central authority. This new proof of concept takes decentralization, blockchain, and privacy to the next level. “Users” are able to freely join the Kronos Chat platform, as it is redundantly available due to it using peer-to-peer technology. Kronos has no downtime or possible banning of the platform. Examples of this in current history include, Amazon Web Services (AWS) taking down the Parler app’s platform hosting [1]. Google Play Store and Apple App Store removing the Parler application [2]. Signal App going offline [3]. Whatsapp invasion of privacy [4]…the list goes on.

Kronos is a secure cryptocurrency wallet but also chat reinvented. With the Kronos Chat you can chat and send cryptocurrency across the world in seconds. End-to-end encrypted messages and no storage of your chats, anywhere. Kronos Chat is powered by YOU by leveraging the latest peer-to-peer technologies. Censorship is everywhere and increasing daily. Kronos Wallet allows you to be truly free, with “self-moderation” you finally have the power to choose your own censorship while you socialize. Kronos stores only required data securely and locally, not on an unknown centralized server in the cloud. Kronos supports optional Two Factor Authentication (2FA) and One-time Password (OTP) Yubikey authentication and uses BIP39 technology for your cryptocurrency wallet with the most advanced and leading encryption technologies available today.

Bitcoin was the first cryptocurrency to solve the Byzantine Generals Problem, but transactions are slow. Ethereum created a smart contract platform, but transaction fees are expensive. Denarius stayed true to its roots by forking the original Bitcoin Satoshi code and modified the coin to become a faster and cheaper alternative to Bitcoin. Now Denarius with Kronos changes things. BTC, ETH, and D coins can be sent using the Kronos Wallet with more cryptocurrencies and tokens being added soon, possibly USDC, USDT, Namecoin (NMC), Devault (DVT), Primecoin (XPM), etc. Interplanetary File System (IPFS) integration and file uploading directly inside of the Kronos Chat also allows the user to upload files such as documents, images, and media directly inside of Kronos, ready to be shared via the plethora of IPFS public gateways available.

Cryptocurrency Credits
Bitcoin (BTC) created by Satoshi Nakamoto
Ethereum (ETH) created by Vitalik Buterin
Denarius (D) created by Carsen Klock

For more information
Kronos Wallet: https://kronoswallet.com
Denarius (D): https://denarius.io

BlockForums.org: https://blockforums.org
Bitcoin (BTC): https://bitcoin.org
Ethereum (ETH): https://ethereum.org
IPFS: https://ipfs.io

Sources
1.) https://www.theverge.com/2021/1/11/22223335/parler-amazon-terminates-web-hosting-aws-google-apple-capitol
2.) https://techcrunch.com/2021/01/08/parler-removed-from-google-play-store-as-apple-app-store-suspension-reportedly-looms
3.) https://www.cnet.com/news/signal-operational-again-after-daylong-outage/
4.) https://www.poynter.org/tech-tools/2019/whatsapps-breach-is-proof-that-online-privacy-takes-a-little-work/

Press Contact
marketing@denarius.io

Source: https://themerkle.com/denarius-announces-beta-of-kronos-wallet-and-private-decentralized-chat/

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Wen? Now! BadgerDAO’s synthetic rebasing Bitcoin, DIGG, goes live

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After weeks of anticipation and a closely-watched series of preparatory steps, BadgerDAO’s synthetic rebasing Bitcoin, DIGG, is now live and claimable for qualified addresses on Ethereum mainnet. 

The release will be eagerly welcomed by a perhaps-overzealous community, one which has been lighting up Twitter with “wen DIGG” for weeks. For all the memes and excitement, however, there’s some serious technical heft behind both the distribution and the maintenance of the newest Bitcoin asset on Ethereum.

Ultimately, however, now that DIGG is in the wild market forces are what will determine the long-term success of the synthetic Bitcoin asset — success that might not be assured.

Fair, flat launch

According to core BadgerDAO contributor and distribution architect Jon Tompkins, the amount of claimable DIGG for each eligible account was determined using a formula centered on an Ethereum address’ activity in the BadgerDAO app. Factors such as total native platform Badger tokens earned, the Badger earned to Badger staked ratio, and total stake days were taken into consideration. 

In order to prevent an overallocation to deep-pocketed “whales,” however, the DAO approved an application of a 1.75 root to smooth the distribution between addresses. As Tompkins wrote in the original DIGG distribution proposal, this root means that, while in a linear distribution the top 100 addresses would have been eligible to receive over 70% of DIGG, they instead will be able to claim just 33%.

Tompkins said that of the 600 DIGG tokens currently available the top address will receive 8.75 DIGG, while the average of the 8517 eligible addresses will be able to claim .07 of a token.

The goal of this distribution was to allow the project to “reward the little guys that are strong badger supporters but not fully disadvantage the whales,” said Tompkins.

Keeping a peg

Now that the token is live, the rebase games begin. 

Algorithmic stablecoins have been a hot topic in DeFi circles over the past few months as one of the most popular trading vehicles. The assets, which are primarily meant to track the price of the US dollar, have “rebasing” features that dynamically expand or contract the total supply of the asset based on preset parameters such as price or time.

So far, however, they’ve proven to be far more effective at enriching users who know how to play the rebase parameters than they’ve been at creating truly stable assets.

DIGG will be possibly the first-ever synthetic rebasing Bitcoin, and certainly the first to feature this distribution method. Out of the gate users will be able to stake their DIGG in a yield-bearing vault, use it to provide liquidity to DIGG/WBTC Sushiswap and Uniswap pairs, hold the core asset in anticipation of a positive rebase, or sell the tokens on the open market.

While there has been speculation as to how DIGG will perform and what the best strategies might be, it’s ultimately unclear to what degree the asset will be able to hew to its intended peg given BTC’s volatility and DIGG’s unique launch.

In a previous interview with Cointelegraph, BadgerDAO founder Chris Spadafora expressed hope that additional forthcoming stabilization mechanisms will be able to help DIGG better track BTC, however.

“What we want to do with our vault system is really at large-scale be the… let’s call it the ‘buy-and-sell’ dictators. So through automated strategies we’re able to buy when the time is right and sell when the time is right to optimize return for the users,” he said.

Forthcoming vaults designed to programmatically play the rebase games are designed to do just that, but given the uncharted game-theoretical landscape it’s impossible to say if the vaults will be sufficient to stabilize DIGG — or what happens after vault incentives dry up. 

In the end, after weeks of anticipation, instead of “Wen DIGG?” BadgerDAO participants lining up to take a spin at the latest rebase casino now must ask themselves, “What’s next?”

Source: https://cointelegraph.com/news/wen-now-badgerdao-s-synthetic-rebasing-bitcoin-digg-goes-live

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