DeFi Projects Airdropping Tokens

We've been told these DeFi Projects will be Airdropping Tokens. Now that DeFi is poppin’, it’s time to help you earn crypto on DeFi!

First things first: what is DeFi? DeFi stands for decentralized finance and represents a shift from traditional, centralized financial systems to an ecosystem without intermediaries such as banks, brokerages, or exchanges. This ecosystem relies on smart contracts, which are built on blockchain, with Ethereum being the most common. DeFi has increased in recent years. According to Forbes, as of January 2021, approximately $20.5 billion was invested in DeFi. Want to learn more about Decentralized Finance? Check out our beginner's guide to Decentralized Finance.

Let's dive in to the possible upcoming DeFi Airdrops. Don't forget to check out our DeFi Airdrops page: airdrops which are already live!

 

1. FinNexus

FinNexus is a cross-chain DeFi protocol that describes itself as “a hub for connecting different decentralized ledgers to each other and users, and also for connecting with traditional finance applications.” An airdrop is set to occur before the end of the month during which 500,000 FNX tokens will be dispatched to users already active in the DeFi market. FNX tokens will be airdropped to those deemed eligible, namely users who have interacted with options protocol FPO v1.0, provisioned liquidity to WBTC and ETH pools at Hegic, and participated in the CRV DAO at Curve.

 

2. Paraswap

Paraswap is one of many projects looking to capitalize on Ethereum’s sky-high gas fees: as well as using ETH for gas, Paraswap uses the GasToken.io (GST2) when possible to minimize network fees.

 

3. dYdX

dYdX is a margin trading platform and recently celebrated a major milestone by surpassing $3 billion in transaction volume since the launch in 2018.  dYdX fed the flames on January 21 by tweeting “More major announcements coming soon.” All things considered, it’s difficult to imagine a dYdX airdrop not happening in the near future.

 

4. Opyn

Launched lasy year, Opyn is a decentralized insurance platform that lets users trade options on ETH and ERC20s. But what about an airdrop for an Opyn governance token? The team has been tight-lipped about the possibility, but that hasn’t stopped DeFi users speculating – especially after co-founder Aparna Krishnan quoted a tweet by the Uniswap Token Listing Bot about $OPN, replying “There is currently no OPYN token.” Perhaps 2021 is the year.

 

5. Unslashed Finance

Unslashed Finance is a decentralized insurance protocol, built on Ethereum by a team of mathematics and finance whizzes. Users receive a token for their “cover” and need only pay for the time their crypto is insured – no minimum duration required. Unslashed have been publishing invite codes on their social channels of late, deleting them as soon as they are claimed; the codes are to get access to the platform rather than obtain tokens, but an airdrop could be in the pipeline – so watch this space.

 

6. Set Protocol

Set Protocol is a platform to create, manage and obtain baskets of tokenized assets, Set Protocol makes it easy for retail and institutional investors to gain exposure to the entire crypto market or one of its sub-sectors. For instance, an investor could tokenize the top 10 cryptocurrencies by market capitalization as a long-term investment, on the basis that though every one of the tokens won’t mature, most will. Set Protocol recently launched V2, integrating the likes of SushiSwap, Uniswap, and Chainlink, and even if an airdrop doesn’t materialize, it’s a platform that’s only likely to attract more investors as time goes on.