How to Find Airdrops in 2024 (My $30K Strategy)

Summary

In this informative video, Patrick from Dynamo DeFi shares valuable insights on how to discover cryptocurrency airdrops, which can be lucrative opportunities. He recounts his personal experience of earning around $30,000 from an airdrop and guides viewers on how to identify promising protocols on platforms like Defi Llama and Airdrops.io. Patrick emphasizes the importance of researching projects with significant backing, active points programs, and those within burgeoning ecosystems like Cosmos. His strategies aim to empower viewers to find and capitalize on airdrop opportunities themselves.

Takeaways

• 💰 Crypto airdrops can be lucrative, with some individuals earning thousands of dollars from them.
• 🔍 The video provides a personal example of earning approximately $30,000 from a single airdrop.
• 🛠 The video aims to teach viewers how to find airdrop opportunities, emphasizing the importance of doing one's own research due to the inherent risks in cryptocurrency.
• 🌐 DefiLlama is highlighted as a primary tool for finding airdrops, especially its airdrop section which lists protocols without tokens.
• 📈 Sorting by total value locked (TVL) on DefiLlama can help identify protocols with significant user deposits and potential for valuable airdrops.
• 🚫 The video suggests hiding forked protocols to focus on unique projects more likely to offer airdrops.
• 💼 Looking for protocols with major backers and early investors increases the likelihood of future token launches and airdrops.
• 🏆 Active points programs within protocols are a strong indicator of potential airdrops, as they track user engagement for future rewards.
• 🌱 Focusing on emerging ecosystems can be beneficial, as new chains may airdrop tokens to encourage adoption and participation.
• 🔗 Airdrops.io is another resource that catalogs potential airdrops, providing a list of protocols and detailed steps for participation.

Q & A

What is the main topic of the video?

The main topic of the video is teaching viewers how to find cryptocurrency airdrops for themselves, with a focus on how some people have made significant amounts of money from airdrops.

What is an airdrop in the context of cryptocurrency?

An airdrop in cryptocurrency refers to the distribution of tokens by a project to existing users of a cryptocurrency or to a community in order to increase awareness and adoption of the new cryptocurrency.

Why do protocols give away tokens through airdrops?

Protocols give away tokens through airdrops to bootstrap marketing, build a community of users and supporters, and distribute tokens to a broader audience rather than just insiders.

What is an example of a lucrative airdrop mentioned in the video?

An example of a lucrative airdrop mentioned is from the protocol Jto, where the presenter personally made about $30,000 from the airdrop they received last month.

What is the first website recommended for finding airdrops?

The first website recommended for finding airdrops is Defi Llama, which tracks stats for different DeFi applications and has an airdrop section.

What is the significance of Total Value Locked (TVL) when looking for airdrops?

Total Value Locked (TVL) indicates the protocols with the most deposits, suggesting a larger user base and potentially a more valuable protocol, which could lead to more valuable airdrops.

Why is it important to look for protocols with major backers when searching for airdrops?

Protocols with major backers are more likely to launch tokens because early investors and venture capitalists typically want liquidity for their investments, which often comes in the form of a token launch.

What is a points program in the context of DeFi protocols?

A points program in DeFi protocols is a reward system that tracks user engagement and interaction with the protocol, often implying a future reward, which could be an airdrop of tokens.

Why should one consider the ecosystem when looking for airdrops?

Considering the ecosystem is important because protocols in growing ecosystems are more likely to be valuable and to launch tokens, making their airdrops potentially more lucrative.

What are some tools mentioned for finding airdrops in the Cosmos ecosystem?

Some tools mentioned for finding airdrops in the Cosmos ecosystem include mintscan.io for exploring the Cosmos chains and airdrops.do for cataloging potential airdrops and providing step-by-step guides.

What is the advice given for those interested in farming airdrops?

The advice given is to use tools like Defi Llama and airdrops.do, to look for protocols with major backers, active points programs, and those in up-and-coming ecosystems, and to do thorough research before participating.