DeFi
5 Cryptocurrency Airdrops Planned for July
Cryptocurrency Landscape Set to Expand in July, With Notable Cryptocurrencies parachute drops from TachySwap, Kayen Protocol, Echelon Market, Rho Markets and Zeta. These tokenless crypto protocol initiatives build visibility and business activity by distributing free tokens to their growing communities.
1. Cryptocurrency Airdrops – TachySwap
TachySwap is a cutting-edge decentralized exchange (DEX) on the Etherlink blockchain. This platform supports efficient token swaps, offering 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 Tachometric exchangeUsers can add liquidity to their pools and earn transaction fees, supporting a fair profit sharing model. The integration of Etherlink’s MEV protection improves transaction security and integrity, strengthening a trustworthy 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 field of sports blockchain. KAYEN promises to improve the utility and reach of Fan Tokens, setting a new benchmark in the industry.
In the center of KAYEN is its role as a decentralized exchange (DEX). Named KayenSwap, it serves as Chiliz’s native, community-focused platform. This is not just another place to exchange fan tokens. Instead, it fosters a community-oriented atmosphere where every exchange and interaction helps build a more vibrant ecosystem.
3. Echelon
Echelon Market is revolutionizing the world of decentralized finance (DeFi) on the Aptos blockchain. This innovative platform is a global lending marketplace that improves liquidity and increases yields. Developed with the support of Aptos and Thala Labs, Echelon uses Pyth Network to power its operations.
The team behind Echelon laid out a strategic roadmap including an airdrop planned for Q3 2024. They also plan a major mainnet launch and token generation event (TGE) in Q2 2024. Currently, Echelon has a total value locked (TVL) of $26.64 million, positioning it as a key player in the expansion of the Aptos DeFi ecosystem.
4. Crypto Airdrops – Rho Market
Rho Markets has unveiled its first Scroll-based lending protocol, which focuses on overcollateralized lending. This platform, backed by the Scroll team, facilitates lending services, covering traditional assets such as ETH, wBTC, and LRT. Additionally, it allows users to stake RATE tokens to earn higher yields.
Rho Markets launched the Rho XP Loyalty Points (RXP) initiative to engage its user base. This campaign distributes RATE tokens to its early adopters. Additionally, RXP holders will receive Scroll tokens in the future. These soul-linked ERC-20 tokens are distributed based on the user’s contribution 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 enabling the trading of undercollateralized derivatives, catering to both individual traders and institutional clients. Its main feature is its ability to allow users to hedge against the volatility of cryptocurrency markets and specific events.
Currently, Zeta rewards its early adopters by giving away 8% of its total ZEX token supply. Those who have accumulated at least 500 Z-Score points before June 7 qualify for this airdrop.
Source of Zeta chart – defillama
Moreover, Zeta has set aside 30% of ZEX tokens for ongoing trading incentives to encourage sustained engagement. These incentives 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.
Conclusion
As the industry evolves, crypto airdrops remain a strategic tool for projects that increase visibility and engage communities. Keep an eye on these five protocols as they roll out significant updates and opportunities in July.
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