5 Crypto Airdrops to Watch Out for in July

The cryptocurrency landscape is set to expand this July, with notable crypto airdrops from TachySwap, Kayen Protocol, Echelon Market, Rho Markets, and Zeta. These tokenless crypto protocol initiatives boost visibility and trading activity by distributing free tokens to their growing communities.

1. Crypto Airdrops – TachySwap
TachySwap is a cutting-edge decentralized exchange (DEX) on the Etherlink blockchain. This platform supports efficient token exchanges, boasting low fees and swift transactions for optimal user satisfaction. As a community-driven AMM, it currently holds 2.96 ETH in total value locked.

Source

By participating in TachySwap, users can add liquidity to its pools and collect transaction fees, supporting a fair profit-sharing model. Integrating Etherlink's MEV protection enhances the security and integrity of trades, reinforcing a trustworthy exchange environment.

2. Kayen Protocol
A groundbreaking development is underway at Sports Blockchain with the introduction of KAYEN. This DeFi Ecosystem, energized 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 KAYEN is its role as a Decentralized Exchange (DEX). Named KayenSwap, it serves as a Chiliz-native and community-focused platform. It is not merely another venue for trading fan tokens. Instead, it fosters a community-driven atmosphere where each trade and interaction aids in building 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 market that enhances liquidity and boosts yields. Developed with support from Aptos and Thala Labs, Echelon utilizes Pyth Network to bolster its operations.

The team behind Echelon has outlined a strategic roadmap featuring an airdrop planned for the third quarter of 2024. They also anticipate a major mainnet launch and a token generation event (TGE) in the second quarter of 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 premier Scroll-based lending protocol, which focuses on overcollateralized lending. This platform, backed by the Scroll team, facilitates lending services, covering mainstream assets like ETH, wBTC,, and LRT assets. In addition, it allows users to stake RATE tokens to secure higher returns.

Rho Markets has introduced 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 soulbound ERC-20 tokens are distributed based on the user's contribution to the lending pools and staking activities. Currently, the protocol reports a Total Value Locked (TVL) of $25.45 million.

5. Zeta
Zeta is transforming the landscape of decentralized finance (DeFi) by offering innovative options trading solutions. This platform stands out by allowing under-collateralized derivatives trading, catering to both individual traders and institutional clients. The key feature is its ability to let users hedge against the volatility of cryptocurrency markets and specific events.

Zeta Chart Source DeFiLIama

Currently, Zeta rewards its early adopters by distributing 8% of its total ZEX token supply. Those who amassed at least 500 Z-Score points by June 7th are qualified for this airdrop.

Moreover, Zeta has earmarked 30% of ZEX tokens for ongoing trading incentives to encourage sustained engagement. These are doled out every 28 days, based on the Z-Score accumulated by each participant. This strategy ensures active traders continue to benefit from future distributions.

Conclusion
As the industry evolves, crypto airdrops remain a strategic tool for projects that enhance visibility and engage communities. Monitor these five protocols as they roll out significant updates and opportunities in July.

Last updated on July 16th, 2024 at 12:05 am

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