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. Crypto Airdrops – TachySwap
TachySwap is a leading 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 AMM, it currently holds 2.96 ETH in total value locked.
TachySwap Chart| Source: Defillama
By participating in TachySwap, users can add liquidity to its pools and earn transaction fees, supporting a fair profit sharing model. The integration of Etherlink’s MEV protection improves 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 sports blockchain space. KAYEN promises to enhance 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 atmosphere where every trade and interaction helps build a more vibrant ecosystem.
3. Echelon
Echelon Market is revolutionizing 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 support from 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 scheduled for Q3 2024. It also plans 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 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 over-collateralized lending. This platform, backed by the Scroll team, facilitates lending services, covering mainstream assets like ETH, wBTC and LRT assets. Additionally, it allows users to stake RATE tokens to guarantee higher returns.
Rho Markets has launched the Rho XP Loyalty Points (RXP) initiative to engage its user base. This campaign distributes RATE tokens to its first users. 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. The platform stands out by enabling undercollateralized derivatives trading, catering to both individual traders and institutional clients. The key feature is its ability to allow users to hedge against cryptocurrency market volatility 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 7 are eligible for this airdrop.
Source of Zeta chart – defillama
Moreover, Zeta has reserved 30% of ZEX tokens for ongoing trading incentives to encourage lasting engagement. These are distributed every 28 days, based on the Z-Score accumulated by each participant. 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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