beginingCryptocurrenciesWhy Solana (SOL) jumped with 85% in one month. Upcoming Airdrops ?

    Why Solana (SOL) jumped with 85% in one month. Upcoming Airdrops ?

    This article was first published in Medium .

    You may have noticed that the value of Solana (SOL) has recently jumped. This is partly due to some rumors of upcoming Solana Airborne landings. There is a lot of buzz around this topic, with headlines announcing that it could be higher than the Arbitrum airdrop. Let's see how to get these potential airdrops and what their real value might be.

    Photo by GuerrillaBuzz on Unsplash

    First, it should be noted that the upcoming airdrops will likely not come from the Solana mainnet itself, but from DeFi (decentralized finance) or liquid stake protocols, ie. of dapps (decentralized applications) built on Solana:

    1. MarginFi : This DeFi protocol offers a set of actions that can earn you valuable points. From deposits and borrowing to referrals, your every move adds to your airdrop potential. The more active you are, the better your chances of claiming an impressive prize.
    2. SolBlaze : This Lido-like liquid staking protocol offers staking in many validators, 217 as of early July. By staking your SOL on this platform, you earn liquid staking incentives and also increase your chances of receiving an airdrop in the form of "bSOL" tokens. The more "bSOL" you accumulate, the bigger your airdrop will be.
    3. Cyphertrade : This DeFi protocol enables futures trading. By using the platform, you have the chance to earn $CYPH tokens, increasing your airdrop potential.
    4. NightMarket : By listing and trading NFTs on this platform, you have a chance to win SAUCE airdrop.
    5. Tensor : This NFT trading platform announced in March the launch of a second season airdrop,  which will only reward trading activity.
    6. Block9 : You can get $Power tokens by trading on this NFT platform which can also boost your airdrop game…

    The list may not be exhaustive. There may be other protocols offering potential airdrops. However, it is crucial to assess the real value of these potential airdrops, which will be related to the TVL (Total Locked Value) of the protocols above. The highest TVL is at MarginFi and is around $9.87 million (USD) as of July 13, 2023. Since we can compare this airdrop to the Arbitrum airdrop, that means we are comparing MarginFi's $9.87 million TVL to $'s TVL 2,155 Arbitrum's billion. In other words, the potential airdrop of MarginFi can be less than 0.5% from Arbitrum airdrop.

    Let's do some math: In March 2023, just over one billion ARB tokens were put into the air, representing more than $1 billion in value. If MarginFi fall by 0.5% of that amount, that would make a total of $5 million. The Solana circuit has about 100 thousand active users and its TVL is $291.65 million. Therefore MarginFi represents only 3% of Solana's TVL and therefore we can also assume that MarginFi there are about 3k active users. In conclusion, the airdrop value of $5 million can represent more than $1600 per recipient.

    As nothing has been confirmed by yet MarginFi or the other protocols above regarding the potential value of an airdrop, please do your own research.

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