Bankless: How to reap double happiness when collecting Layer 2 airdrops
Original title: "How To Double Up on Layer 2 Airdrops"
Original Author: William M. Peaster, Bankless
Original compilation: 0x711 & Bob, BlockBeats
There are many Ethereum Layer 2 expansion plans that will issue native Tokens.
These Layer2 applications will also issue their own tokens.
Interact with an on-chain activity now, and may receive two airdrops in the future.
Therefore, Bankless' strategy will show you how to get a possible "double" airdrop in the future while experiencing Layer 2 technology early.
where to look for doubling opportunities
Finding airdrops is part pastime and part modern degen on-chain work. Right now, the frontier of Web3 is where the best potential opportunity to effectively “double” airdrops can be found.
I mean, perform an interaction to qualify for future token airdrops of two different projects.
To find these opportunities, start here:
Find a promising Ethereum Layer 2 that has yet to issue a token — or in the case of Optimism, the project plans to conduct multiple stages of token airdrops in the future.
Find and use applications on these Layer2s that have not yet issued native Tokens.
Keep in mind that this strategy is not foolproof. It may cause you to miss trying Layer2 or Dapps that have not yet issued their own native tokens!
Early in the life cycle of the thriving Layer 2 ecosystem, there will be quite a few "double" airdrops happening. Find your own position.
So if you're interested, please consider trying out some tokenless Dapps on the candidate Layer2, so that if any of these projects + rollups end up airdropping native tokens to early users, you'll be one of those users.
As for which Layer2 goals specifically: Optimism, zkSync, and Arbitrum seem to be low-hanging fruit.
For example, we already know that Optimism is continuing to conduct multiple rounds of OP Token airdrops, and the zkSync project has confirmed its own Token plans . Arbitrum's team has been silent on Token discussions, but seems to be ready to issue Tokens for community collaboration.
This forces us to pick specific Token-less applications that can currently be used on these Layer 2s. I'll help you cut to the chase by showing you some projects that fit that bill...
First, the cross-chain bridge
There are many Layer2-centered cross-chain bridge projects that have not launched Token yet.
Earlier this year, Hop launched its Token HOP. It is likely that in the coming months, multiple cross-chain bridges will conduct retroactive airdrops to maintain liquidity.
Some cross-chain bridges that may eventually issue their own tokens include:
Bungee: support Arbitrum, Optimism and other EVM L1;
deBridge: support Arbitrum and other EVM L1;
Mosaic by Composable Finance: support Arbitrum and other EVM L1;
Orbiter Finance: supports zkSync, Arbitrum, Optimism and other EVM L1;
transferto.xzy by LI.FI: Arbitrum, Optimism and other EVM L1 support.
Some of these projects, like Orbiter Finance, may not have been fully audited, so use with caution.
However, these cross-chain bridges currently offer some of the most obvious candidates for potential “double-up” airdrops.
Other Layer2 projects that have not issued coins
In addition to cross-chain bridges, you can also try some DeFi, NFT and wallet projects that have not yet issued coins on Layer 2:
Argent is a mobile social recovery wallet that supports Ethereum and zkSync Layer2. On the zkSync network, Argent provides Layer2 DeFi investment opportunities based on Aave, Lido and Yearn protocols.
Argent may provide you with the opportunity to obtain zkSync Token through a series of integrations.
Use Argent to lend DAI or USDC through Aave on zkSync;
Use Argent to pledge ETH through Lido on zkSync;
Invest ETH, DAI, USDC or WBTC to the Yearn Protocol on zkSync using Argent.
Cozy Finance is an open source, insurance-like protocol that allows people to create automated DeFi protection markets.
Earlier this year, the project added support for Arbitrum and remains tokenless. Provide liquidity, borrow or invest on Cozy, and you may have the opportunity to obtain COZY + ARBI Token. This is a possibility.
Use the Protected Investing feature on Cozy;
Depositing funds on Cozy provides protection;
Borrow money on Cozy.
(Note: Cozy is not available for US users.)
DeFi Saver is a good DeFi management platform, just like a personal chain control center.
The project even lets you simulate popular DeFi operations, so you can see how transactions work behind the scenes. Earlier this year, the project rolled out support for Arbitrum and Optimism, and while the team has not indicated plans to airdrop tokens to its Layer 2 users, the possibility remains open.
Trade via DeFi Saver on Arbitrum or Optimism;
Use the Aave integration on DeFi Saver on Arbitrum or Optimism.
Quixotic is currently the largest NFT marketplace on Optimism.
Maybe one day it will choose to launch a Token like other NFT markets, such as SuperRare's RARE. Therefore, buying and selling NFT on the platform may help you "double" get Quixotic Token (if it happens) and the second phase of the OP airdrop.
Buy NFTs on Quixotic;
Sell NFTs on Quixotic.
Yield Protocol, a fixed-rate lending protocol, activated support for Arbitrum in March 2022.
The project's FAQ stated: "In the long run, we hope that the Yield agreement will be owned by the community", so it seems that the certainty of issuing Token is relatively high. Whether the token will be implemented on Arbitrum or Ethereum remains to be seen, but regardless, Yield Protocol is a project worth watching.
Loans via Yield Protocol on Arbitrum;
Borrowing through the Yield Protocol on Arbitrum;
Provide liquidity for Yield Protocol on Arbitrum.
Simply put, find Layer 2s that might perform retrospective airdrops, use cool Dapps on top of those Layer 2s — and sit back and wait.
Of course, things may not always be that simple - for example, you may have to participate in wider projects such as The Arbitrum Odyssey (currently suspended) to lock up token distribution.
This is a low-risk, bear-ready speculative strategy that you can move on to now. But there are a lot of things we don't know: how the potential Layer 2 token distribution will work, or which projects will roll out token economics, etc.
However, we are certain that most Layer 2 tokens may be launched. Some Dapps on these Layer 2 may also launch their own Token.
Therefore, an easy way to position these potential "double-up" airdrop opportunities is to try as many candidates as possible, and then wait for the mystery to be revealed someday in the future.