A New Airdrop Era
From Ethereum to Solana, airdrop season is underway! Much of this week's airdrop excitement was concentrated on Solana-native liquid staking protocol Jito, but that didn't stop LayerZero and Starknet from capitalizing on airdrop momentum with their own announcements!
With the smallest Jito airdrop worth $10k and claimants of the largest allocations walking away with over 6-figures, it's safe to say that Jito's airdrop was a success!
Jito is often described as the child of Lido and Flashbots. In spite of this designation and Jito's relatively minuscule TVL – just 1/50th the size of Lido's – JTO is now trading at a higher fully diluted valuation (FDV) than the former of its parentals, an outcome that has undoubtedly stunned many market participants, especially those holding LDO.
how the FUCK did $jto open at a higher FDV than $ldo I have been holding that bag from the stone-cold bottom for over a fucking YEAR piece of shit kanav i am going to flip a goddamn TABLE
— Andrew T (@Blockanalia) December 7, 2023
LayerZero sent shockwaves around the airdrop world after confirming a LayerZero token will be distributed sometime during the first half of 2024.
While it is unclear whether the snapshot has been taken, LayerZero stated that it was committed to getting its token distribution right, hopefully indicating that it will be taking action to limit token distribution to sybils.
LayerZero has always been built with the ability to have a native token within the protocol, as can be seen in the immutable code launched on day 1. We’ve heard the community discussion over the last few months and the lack of clear communication around this. We’ll state now in…
— LayerZero Labs (@LayerZero_Labs) December 7, 2023
We’ve been eagerly awaiting specifics on the Starknet airdrop since late last week when screenshots of an in-development claim portal made the rounds on Crypto Twitter, and clarity finally arrived on Friday!
While Starknet confirmed last week that the snapshot for the initial airdrop has already been taken, the 900M STRK has earmarked for the “Provisions Committee,” which will distribute (i.e.; airdrop) tokens to reward past and future contributions to Starknet’s success by users and community members.
An additional 900M STRK is being allocated for rebates and a further 50M STRK will be used for onchain incentives programs.
Now that the news is out, we might as well tell you more!
— Starknet Foundation (@StarknetFndn) December 8, 2023
Starknet is about each of you. Every user, builder and member of our community – existing and future – is a critical piece to building our network into the future of decentralisation for generations to come. The success…