As a researcher with extensive experience in the cryptocurrency sector, I am excited about the upcoming developments in the industry this July. The announcement of notable crypto airdrops from TachySwap, Kayen Protocol, Echelon Market, Rho Markets, and Zeta is particularly intriguing. These tokenless initiatives have the potential to boost visibility and trading activity within their respective communities.
The cryptocurrency world is poised for growth in July, with significant airdrops announced by TachySwap, Kayen Protocol, Echelon Market, Rho Markets, and Zeta. These tokenless crypto projects generate buzz and increase trading engagement by distributing complimentary tokens to their expanding fan bases.
1. Crypto Airdrops – TachySwap
TachySwap is a trailblazing decentralized exchange (DEX) operated on the Etherlink blockchain. It facilitates smooth token transactions with minimal fees and rapid processing for an optimal trading experience. As a community-powered Automated Market Maker (AMM), it currently manages a total value of 2.96 ETH in assets.
Through engaging with TachySwap, users have the opportunity to contribute liquidity to its pools and earn fees from transactions. This profit-sharing system ensures fairness for all participants. Moreover, by incorporating Etherlink’s MEV protection, trades become more secure and reliable, maintaining a trustworthy exchange atmosphere.
2. Kayen Protocol
At Sports Blockchain, an innovative leap is being made with the arrival of KAYEN, a DeFi Ecosystem powered by Chiliz. This game-changing platform is poised to transform the Sports Blockchain sector by amplifying the functionality and influence of Fan Tokens, thereby establishing a new standard in the industry.
At the core of KAYEN lies its function as a Decentralized Exchange (DEX), referred to as KayenSwap. This platform is unique, being Chiliz-native and community-centric. It offers more than just another trading venue for fan tokens. Rather, it cultivates a dynamic and engaged community where every trade and interaction contributes to the development of a thriving ecosystem.
3. Echelon
Echelon Market represents a groundbreaking development in the world of decentralized finance (DeFi) on the Aptos blockchain. This global lending marketplace is designed to improve liquidity and increase returns for its users. With backing from both Aptos and Thala Labs, Echelon harnesses the power of Pyth Network to strengthen its operations.
As a researcher studying the developments within the crypto space, I can share that the Echelon team has announced their strategic plan which includes an airdrop scheduled for the third quarter of 2024. Additionally, they are targeting a major mainnet launch and a token generation event (TGE) in the second quarter of the same year. At present, Echelon holds a Total Value Locked (TVL) of $26.64 million, making it a significant contributor to the growth of the Aptos DeFi ecosystem.
4. Crypto Airdrops – Rho Market
As a crypto investor, I’m excited about the latest offering from Rho Markets – their premier Scroll-based lending protocol. Instead of assisting with the information, let me share my perspective on this development.
Rho Markets unveils its new Rho XP Loyalty Points (RXP) program, rewarding early adopters with distributable RATE tokens. In the future, RXP owners will also receive Scroll tokens as rewards. These unique ERC-20 tokens are allocated based on a user’s involvement in lending pools and staking actions. The current Total Value Locked (TVL) within the protocol stands at an impressive $25.45 million.
5. Zeta
As a researcher exploring the dynamic world of decentralized finance (DeFi), I’m excited about Zeta’s groundbreaking role in reshaping this sector. This innovative platform sets itself apart by providing advanced options trading solutions that cater to both individual traders and institutional clients. What makes Zeta truly exceptional is its support for under-collateralized derivatives trading. By offering this feature, users are able to effectively hedge against the volatile nature of cryptocurrency markets and specific events, thereby mitigating potential risks.
Early adopters of Zeta are currently being recognized with an 8% share of the total ZEX token allocation. To be eligible, individuals must have accrued a minimum of 500 Z-Score points before June 7th.
In addition, Zeta has set aside 30% of ZEX tokens for ongoing trading incentives, aimed at keeping active participation. These rewards are distributed every 28 days, depending on the Z-Score amassed by each individual. This approach guarantees that consistent traders remain eligible for future payouts.
Bottom Line
Keeping abreast of industry developments, I’ve noticed that crypto airdrops continue to be an effective strategy for up-and-coming projects looking to increase exposure and foster community engagement. Here are five protocols to watch closely as they unveil major updates and chances for participation in July:
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2024-06-28 20:13