The goal is to keep this list fairly tight. My personal motto is to go with quality over quantity when I’m looking at airdrops and to try to concentrate on a few quality names per quarter.

We will only republish this when we add something new.

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Before we get started, this is never a recommendation or endorsement to buy any token(s) mentioned, and here’s a few risks to consider:

• Smart contract risk in any underlying protocols

• Spoof attack on an app frontend

• An economic design exploit

• Systemic risk across DeFi, including stablecoin depegs

• Or just a bad risk/reward on acquiring the airdrop

If I label something with a “Low” or “Medium” conviction level, just know that anything that makes this list is something I’m already very bullish on. If conviction is lower, it can be due to the stage of airdrop, overall airdrop dynamics or conviction in relation to the other opportunities on this list.

Lastly, I’m aware some of these are later stage opportunities and I will try to update this with new opportunities as soon as they come on our radar.

Update 🚀 

I personally faded Berachain. Not because I thought it wouldn’t do well, but because it was a lot to understand and I realized it would take a high degree of attention to execute properly. I think it made sense if you had a narrow focus on JUST Berachain or had a really good feel/understanding of the ecosystem (I did not). So, no shade, but I think 80% of my focus and attention likely just goes into getting fully emersed into the HyperEVM launch.

Hyperliquid

What is it: Hyperliquid is a decentralized perpetual trading protocol on its own Layer 1 (L1) blockchain, aiming to offer a centralized exchange-like experience with an onchain order book for trading spot, derivatives, and prelaunch markets.

Airdrop progress: The HYPE token is live and 31% of the total supply has already been distributed to early community members. In most cases there would be little to no opportunity left for airdrops after such a generous allocation to early Hyperliquid backers/users. However, due to the rare nature of the project having no VC funding they have a lot more token supply left to be awarded to community members.

Even after this initial drop, there is still 38.88% of HYPE that is earmarked for future emissions and community rewards.

If you hold a long-term bullish view of the Hyperliquid community (as I do), than this still represents an asymmetric upside opportunity to get involved.

How to Participate: This is the hard part. The team was very quiet on what the key drivers of the last points campaigns were. In many cases, the community was able to ascertain that activity in the spot market had a major influence on the last airdrop. Specifically buying and holding spot market tokens.

(Updated)

HyperEVM

HyperEVM is Live!

While it’s an exciting milestone, this is a slow rollout launch and I wouldn’t expect to see dapps going live with a lot of functionality just yet. The foundational mechanisms are just being spun up for now.

IMO, getting acquainted with the ecosystem and using these apps will be a major component of future airdrops. Not only could you get rewarded with more HYPE for using HyperEVM DeFi, but you also get exposure to what could be some incredible airdrops in the ecosystem. I’ve seen many of the Hyperliquid dapps raising smaller rounds which could leave more room for community rewards:

Here’s an early look at the ecosystem:

In addition to this ecosystem map, the Hypurrcollective has one of the most extensive ecosystem lists on their website

If you see projects you like or you think look bullish, its very possible you can participate in their testnets. There’s never a guarantee testnet participation will net you any rewards, but at the very least its a great way to get used to how the protocol functions without real money on the line.

A few projects that stand out early to me are Kinetiq (LST) + Felix (CDP style money market). These two also go together quite well as Kinetiq’s kHYPE will be a collateral asset on Felix. I think this combination will be very popular for the native Hyperliquid community who want to keep exposure to HYPE while still maintaining usability throughout HyperEVM DeFi.

We recently published an interview with Felix here:

For me, I have no urge to immediately bridge to HyperEVM. I would rather not be the earliest capital trying things out and seeing what breaks. Also, to my knowledge, there’s still not much to do just yet.

However, if you do want to bridge over immediately, here’s a guide:

Staking

I personally believe that staking will be rewarded retroactively for an airdrop. Although, staking is already rewarded with staking APR emissions, its possible it isn’t rewarded as heavily as I once thought.

I’m staking with:

Infinitefield.xyz

and

ASXN.xyz

I also have a little bit with Nansen x HypurrCollective (who have been one of the loudest with airdrops).

I personally went with infinitefield and ASXN because I like what they stand for, they seem very ingrained with the Hyperliquid community and I wanted to support them. So in this case, I might not be optimizing my stake for airdrops, but I’m OK with that.

Trading

I think fading spot/perp trading could be a mistake. I still think users of the core HL app are going to be treated well with a retroactive airdrop. Checkout the first post in “Relevant Reads” for a speculative breakdown of what that could look like with some math applied.

NFT

Apparently Hypio NFTs are already lined up for airdrops. Shoutout to ellie.hl for putting this on my radar.

To see the list of confirmed airdrops and rumored ones, check here and the link to the Opensea collection is below:

Conviction Level: High

Referral To Get Started: Here

Relevant Read(s):

Good trading speculation:

What you can do right now to get started:

Resolv

What is it: Resolv, similar to Ethena, is a protocol that maintains USR, a stablecoin natively backed by ETH and pegged to the USD. Here are its main features:

Issuance and Redemption: Users can issue and redeem USR against other tokens.

Backing: Resolv ensures sufficient backing by ETH at all times through hedging the ETH price with short perpetual futures positions.

Resolv Liquidity Pool (RLP): An insurance pool designed to keep USR overcollateralized, enhancing stability and security.

Both USR and RLP can be minted and redeemed by users, with each unit backed by collateral on a 1:1 basis.

(Update)

Airdrop progress: Later stage (TGE probably mid to late March)

How to Participate:

• Holding USR/RLP

• If you want to use leverage for your points, the Pendle pool on Base has been quite juiced recently:

• One thing I personally fumbled early was not utilizing more of the boosts (I’m still not doing nearly all of them). They have a huge impact on your daily rewards accrual and they are relatively easy to achieve. Here’s the ones I’ve done that have had a major impact:

• If you’re reading this and are curious how to maximize these boosts checkout the post in “Relevant Read” below.

Conviction Level: Low/Med

Referral To Get Started: Here (adds a 20% daily boost to you)

Relevant Read: How to maximize your boost

(Updated)

Definitive

What is it: Definitive is being developed by a team of ex-Coinbase alumni. It’s an all-in-one DeFi Superapp for onchain trade execution and DeFi yield. Available on Solana + EVM.

(Disclaimer: Both myself and DeFi Dad are very bullish on this one and also investors. It’s quickly becoming one of our most used apps that we open on a daily basis.)

Airdrop progress: Done, awaiting TGE

How to Participate: The airdrop campaign is now over, but I will continue to use this platform for its amazing UI/UX for navigating DeFi.

Conviction Level: Med/High

Referral To Get Started: Here (you can still use this to get started)

Relevant Read:

(No Update)

Wayfinder

What is it: Wayfinder is a new AI-powered tool designed to operate across multiple blockchains. It enables user-owned, autonomous AI agents to navigate securely and efficiently within and across blockchain ecosystems and applications. These agents can independently transact assets they control through dedicated crypto wallets.

Airdrop progress: Mid to Later stage

How to Participate: 

• Cache PRIME to earn PROMPT - 40% of PROMPT supply will be going to users who cache PRIME (see DeFi Dad’s writeup below)

• Use the the Wayfinder app - Referral below

Conviction Level: High

Referral To Get Started: Here

Relevant Read:

Other Airdrops I’m Considering

• As an investor in Movement Labs, I’m bullish and keen to try out that ecosystem once it goes live. They’ve had their Cornucopia running, but I personally prefer to concentrate into individual dapps that I’m bullish on (Meridian/Echelon). Also, I want to be able to utilize Pendle, Spectra, or Hourglass when possible for leverage and we need mainnet + dapp deployments for that.

• We’re running a Faction on DeFi App. If interested in joining our team you can do so here. For more information on what it is, check our article from last week below:

What do you think we’re missing? What’s your most high conviction plays for 2025 so far?

That’s all for now, thanks for checking it out!

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