Jito announced the launch of the governance token JTO on November 28, with a total supply of 100 million, of which 90 million will be distributed in this airdrop, and the remaining 10 million will be distributed next year. Jito is a liquidity staking service on Solana. Users deposit SOL into Jito's liquidity staking pool and obtain JitoSOL. In addition to receiving staking rewards, users’ JitoSOL will also accumulate MEV rewards.
To date, Jito’s TVL is close to 6.8 million SOL, with more than 50,000 stakers. Bankless analyst Jack Inabinet deeply discussed the rise of airdrops in the Solana ecosystem and the possible impact of these airdrops on the Solana DeFi ecosystem. Whether it signals that Solana is about to usher in a new round of development.
The article also puts forward views on the impact of airdrops on TVL (Total Locked Value) and token protocols, as well as the challenges Solana may face in competing with Ethereum, and points out some key issues in Solana’s future development.
Solana Stimmy Szn has arrived!
Earlier this month, Oracle Network Pyth and DEX aggregator Jupiter released its airdrop program, while Solana’s largest tokenless protocol platform, Jito, a liquid proof-of-stake platform, announced its token on Monday.
With three major projects announcing airdrops of tokens to users, will this influx of wealth be enough to inject vitality into Solana’s DeFi ecosystem, especially when its total value locked (TVL) is drier than the Sahara Desert?
Today, we’ll dive into the impact of these airdrops and explore whether this is just the beginning of the Solana airdrop craze?
Underperforming TVL
Market participants have been eager to snap up SOL since 2023, however, their greedy desire to drive up the token’s price has not evolved into a desire to participate in Solana’s DeFi ecosystem.
Although SOL has risen 500% year-to-date, its price growth has far outstripped TVL's growth.
Solana 以美元计价的TVL 上涨了200%，看似令人印象深刻，但仍然低于FTX 崩盘前的底线10 亿美元，并且只是对以SOL 计价的TVL 的一种权宜之计，今年以来，以SOL计价的TVL 已下降45 %！
Solana’s next chapter
Solana top protocol plans to distribute tokens via airdrops to the most active on-chain users. As new tokens circulate on Solana, the injected TVL will help increase the valuation of the entire ecosystem.
While the arrival of the airdrop may not necessarily be directly reflected in TVL’s price performance, as the two are positively correlated metrics, it will inject upward pressure on both figures and could become an actual driver of SOL-denominated TVL growth in 2024 !
The sudden rise of Blast demonstrates the ability of airdrops to attract TVL. As an L2 project, Blast offered "points" rewards to users who deposited funds into their multisig accounts ahead of its mainnet launch in February. Despite launching just last week and not yet launching a product, Blast's TVL briefly surpassed Solana's TVL.
Inventory of 7 potential protocols and interaction strategies
Drift
Drift is a permanent DEX built on Solana that has not yet launched a token.
How to qualify for air investment:
JitoSOL
Jito is a SOL liquidity staking platform that provides staking rewards of approximately 6.8% APY.
How to qualify for air investing:
Marginfi
MarginFi is a lending protocol on Solana that allows borrowing and lending various assets. The platform has officially launched a "loyalty points" program, which may facilitate airdrops.
How to earn points:
Of course, you can also use SOL as LST (liquidity staked token).
Jupiter
Jupiter is a DEX aggregator that allows users to get the best swap rates on Solana, with limit orders, DCA, (dollar cost averaging: a strategy in which investors divide the total investment amount to buy specific assets on a regular basis) , bridging and permanent trading functions.
How to qualify for air investment:
Zeta Markets
Zeta Markets is a DeFi futures and options trading platform that allows users to effectively hedge the risk of crypto market volatility and extreme events.
Zeta Markets有一个官方积分系统，这可能预示着未来的空投。他们的积分系统很简单：Taker（吃单）数量每增加1美元，Z积分就会增加1。
• Deposit USDC and do some trading on the exchange.
Tensor
Tensor is the Solana ecological NFT market platform and a protocol with an official points system (similar to BLUR).
Users can accumulate points through the following methods:
Phantom
Phantom is the most popular wallet on Solana, with over 3 million users.
If a certain token is issued, it might be a good idea to create some activity retroactively.
用户可将所有这些作为单独的空投——但有一些创意的方法，可以透过执行多协议互动策略一次获得多次空投的资格，从而节省时间和精力。
In addition, on-chain analyst Patrick Scott and crypto KOL Aylo also shared their multiple interactive strategies on Solana:
Strategy 1
Strategy 2
Strategy 3
Strategy 4
