Markets
5 Cryptocurrency Airdrops Ready for July
The cryptocurrency landscape is set to expand this July, with some notable cryptocurrencies airdrops from TachySwap, Kayen Protocol, Echelon Market, Rho Markets and Zeta. These tokenless crypto protocol initiatives increase visibility and trading activity by distributing free tokens to their growing communities.
1. Cryptocurrency Airdrop – TachySwap
TachySwap is a cutting-edge decentralized exchange (DEX) on the Etherlink blockchain. This platform supports efficient token exchanges, boasting low fees and fast transactions for optimal user satisfaction. As a community-driven AMM, it currently holds 2.96 ETH in total value locked.
TachySwap Chart| Source: defillama
By participating in Tachy Swapusers can add liquidity to their pools and collect transaction fees, supporting a fair profit-sharing model. Etherlink’s MEV protection integration enhances the security and integrity of transactions, strengthening a trusted exchange environment.
2. Kayen Protocol
A revolutionary development is underway at Sports Blockchain with the introduction of KAYEN. This DeFi ecosystem, powered by Chiliz, aims to revolutionize the realm of Sports Blockchain. KAYEN promises to enhance the utility and reach of Fan Tokens, setting a new benchmark in the industry.
Central to The Kayen is its role as a decentralized exchange (DEX). Called KayenSwap, it serves as a native, community-focused platform for Chiliz. It is not simply another place for fans to exchange tokens. Instead, it fosters a community-driven atmosphere where every exchange and interaction helps build a more vibrant ecosystem.
3. Echelon
Echelon Market is disrupting the decentralized finance (DeFi) scene on the Aptos blockchain. This innovative platform is a global lending marketplace that improves liquidity and increases returns. Developed with the support of Aptos and Thala Labs, Echelon uses Pyth Network to power its operations.
The team behind Echelon has outlined a strategic roadmap that includes an airdrop planned for Q3 2024. They also plan for a major mainnet launch and token generation event (TGE) in Q2 2024. Currently, Echelon boasts a total value locked (TVL) of $26.64 million, positioning itself as a key player in the expansion of Aptos’ DeFi ecosystem.
4. Cryptocurrency Airdrop – Rho Market
Rho Markets has unveiled its world-class Scroll-based lending protocol, which focuses on overcollateralized lending. This platform, supported by the Scroll team, facilitates lending services, covering traditional assets such as ETH, wBTC and LRT assets. Additionally, it allows users to stake RATE tokens to ensure higher returns.
Rho Markets has introduced the Rho XP Loyalty Points (RXP) initiative to engage its user base. This campaign distributes INSTALLMENTS tokens to its early adopters. Additionally, RXP holders will receive Scroll tokens in the future. These soulbound ERC-20 tokens are distributed based on user contributions to lending pools and staking activities. Currently, the protocol reports a Total Value Locked (TVL) of $25.45 million.
5. Zeta
Zeta is transforming the decentralized finance (DeFi) landscape by offering innovative options trading solutions. This platform stands out by allowing trading of under-collateralized derivatives, catering to both individual traders and institutional clients. The main feature is its ability to allow users to protect themselves from the volatility of the cryptocurrency markets and specific events.
Currently, Zeta is rewarding its early adopters by giving away 8% of its total ZEX token supply. Those who have accumulated at least 500 Z-Score points by June 7th are qualified for this airdrop.
Zeta Chart Source-defillama
Furthermore, Zeta has earmarked 30% of ZEX tokens for ongoing trading incentives to encourage long-term engagement. These are distributed every 28 days, based on each participant’s accumulated Z-Score. This strategy ensures that active traders continue to benefit from future distributions.
Bottom line
As the industry evolves, cryptocurrency airdrops remain a strategic tool for projects to increase visibility and engage communities. Keep an eye on these five protocols as they introduce significant updates and opportunities in July.
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