5 Crypto Futures Exchanges That Could Airdrop Tokens
With the beginning of a bullish cycle, the crypto market has seen the emergence of new projects announcing retroactive airdrops for their early users. Derivatives DEXs have not been an exception in this regard.
The trend of awarding trading activity was pioneered by the renowned platform dYdX. In 2021, this exchange distributed tens of thousands of dollars for simple activities involving commission fees. Similarly, the ParaSwap exchange acted, where some traders managed to earn over $1000 per account.
Many exchanges have implemented point systems, which allow participants to anticipate potential earnings and the number of points accrued through their activity. This approach has both advantages and disadvantages.
How to Qualify for These Airdrops?
Based on previous examples, we can identify certain criteria that impact the amount of rewards for users:
- Total trading volume on the account;
- Number of trading days;
- Variety and number of transactions;
- Engagement with the project's social media channels;
- Completion of quests on platforms like Zealy, Galxe, and Guild;
- Claiming relevant NFTs for activity (OAT).
On the positive side, users can immediately determine the mathematical and economic aspects of the airdrop, understanding the scope of potential rewards. However, the motivational appeal of point systems can significantly increase the number of participants in a future retroactive airdrop, thereby diminishing the size of the rewards per participant.
Let's look into five additional projects that have already announced retroactive airdrops for traders on their platforms.
Aevo
As one of the largest derivatives DEXs, Aevo operates across three blockchains: Ethereum, Arbitrum, and Optimism. We've already provided a detailed guide on using Aevo, but much has changed on the exchange since then. The block of perpetual futures has grown substantially, while cryptocurrency options have receded into the background.
According to the project's documentation, the AEVO token is expected to be launched in February 2024. Here's a list of actions necessary to qualify for the airdrop:
- Deposit funds on the platform in any network;
- Engage in futures trading. Trading volume is likely to be a key criterion for the airdrop;
- Trade in the cryptocurrency options section;
- Add funds to the liquidity pool, achievable by staking your USDC or USDC.e in the aeUSD pool under the "Portfolio" section;
- Stay active on the project's official Discord channel.
Interface of the Aevo Platform. Source: aevo.xyz
Another factor potentially influencing the drop could be the presence of a specific role in Discord. Details on how to acquire such a role are provided in the server's "get-roles" section.
KiloEx
KiloEx is a decentralized derivatives platform operating on the opBNB, BNB Chain, and Manta networks. The protocol has already implemented a points system, enabling users to accumulate points for activities such as:
- Trading with limit and market orders.
- Participating in the referral program.
- Depositing tokens into liquidity pools in the "Earn" section.
- Completing quests on Galxe.
- Engaging with a special roulette feature ("Wheel of Fortune") on KiloEx.
Interface of the KiloEx Platform. Source: app.kiloex.io
Traders can boost their points in the "Airdrop" section, where new tasks are added daily. Additionally, users have the chance to spin the roulette wheel. Each spin costs 20 points and can yield up to 2000 additional points or a guaranteed spot in the token sale.
Hyperliquid
This exchange operates on the Arbitrum One network. Hyperliquid has a points system that rewards users for:
- Trading perpetual futures.
- Investing assets in the "Vaults" section.
- Referring new users.
Hyperliquid 's Homepage. Source: app.hyperliquid.xyz
To create a referral link, users must first trade a volume exceeding $10,000 on the exchange.
At the time of writing, Hyperliquid ranks as the fifth protocol on the Arbitrum blockchain, with a total TVL exceeding $125 million.
Satori
Satori is a cross-chain cryptocurrency derivatives protocol supporting five networks. Each of the available blockchains (Linea, zkSync, Scroll, Polygon zkEVM, and Base) are also candidates for airdrops, as none of these blockchains have their own token as of January 27, 2024. Hence, engaging with Satori offers interesting potential rewards across all the projects accessible on the exchange.
Satori's functionality and asset variety, mainly BTC and ETH, are somewhat more limited compared to other platforms. However, this also means not having to spread funds across numerous different processes.
Interface of the Satori Platform. Source: zksync.satori.finance
SynFutures
Previously mentioned in one of our articles, SynFutures had initially focused on interactions with its test network but has recently moved into mainnet for live trading.
Operating on the Linea network, activities on SynFutures qualify for two separate potential airdrops. Trading is primarily conducted using the native stablecoin USDM, which can be minted directly on SynFutures' main page. Adding liquidity in the "Earn" section is also a significant activity.
Working with SynFutures on the Linea mainnet mirrors the testnet experience, as minting USDM is the only chargeable activity. Test tokens are used for all subsequent activities. Each transaction on the Linea network costs approximately $0.2.
SynFutures's Homepage. Source: alpha.synfutures.com
