everyone ready to redeem the prize of the new crypto

Etherfi, a well-known liquid restaking protocol on the Ethereum blockchain, will launch its own crypto ETHERFI tomorrow with a parallel airdrop dedicated to the platform’s early users.

The new currency, farmable alternatively through Binance Launchpool until 00:59 tonight, will be distributed among all holders of “Etherfi points” who in recent months have locked their ether on the protocol receiving eETH in exchange.

This airdrop could open the doors to other token distributions by the restaking protocol ecosystem, such as Eigenlayer and Swell.

Below are all the details on how to verify your eligibility for Etherfi and how to get ready for the upcoming airdrops.

The listing of the crypto Etherfi is accompanied by an airdrop to early users who have used the restaking protocol

Tomorrow the ETHERFI token of the homonymous liquid restaking platform will be officially listed on Binance and major exchanges, with the probable simultaneous airdrop for protocol stakeholders.

In this initiative, a small percentage of the supply of the new crypto will be distributed to Etherfi stakers who have locked their ETH in recent months.

contributing to increase the TVL of the project (+2.9 billion dollars since the beginning of January).

User participations are classified based on the amount of ether deposited and the time the same coins remain locked, and are counted through a points system, where 1 “Etherfi loyalty point” corresponds to a stake of 0.001 ETH for one day.

These points will be converted directly into the ETHERFI crypto through an airdrop, and will be redeemable presumably starting from tomorrow.

The Etherfi team has not yet released details of the airdrop: so let’s keep an eye on project’s account X to see if additional information such as tokenomics of the new crypto, allocation distribution, website to check your eligibility and make the claim will be published by tomorrow.

At the moment we still do not know how much the monetary prize of this airdrop corresponds to, but based on the data present on the prediction market “Whales Market”, we can see how Etherfi points are traded in the secondary market at a price ranging between 0.005 and 0.0017 dollars.

Obviously the actual value of the points could vary, but it could plausibly fall within the described range.

The ETHERFi listing, as already anticipated, was supported by the Binance Launchpool, where less experienced users had the opportunity to farm the new crypto in an alternative way, however obtaining a lower yield compared to what the airdrop hunters will receive.

Given the popularity of the protocol and its exponential growth recorded in recent months, with billions of dollars pouring into the protocol in order to generate additional yield beyond the ETH stake and a chance to also earn the airdrop.

We expect a distribution of tokens worthy of note, which will surely be appreciated by the Ethereum community.

The CEO of Etherfi, in a recent interview with The Defiant, stated that although a detailed breakdown of how the tokens will be distributed has not yet been defined, users will be satisfied with the outcome.

Other restaking projects with possible airdrop on the horizon

In addition to Etherfi, the landscape of restaking protocols could hold many more surprises for crypto farmers, with several airdrops on the horizon in the coming weeks.

First of all Eigenlayer positions itself as the undisputed king of this trend, ready to airdrop millions of dollars worth of EIGEN tokens to protocol stakers.

Also in this case, the distribution campaign of the new crypto follows a points system (Eigenlayer points) that rewards users based on their loyalty and participation.

It is worth noting that by using Etherfi, you automatically qualify for the Eigenlayer airdrop, even benefiting from a boost in earning points.

These are traded in advance on Whales Market at a price of about 0.2 dollars per unit.

Considering the TVL skyrocketing for this protocol, with locked funds recently reaching the insane amount of 12.3 billion dollars, we can guarantee that the launch of the new EigenLayer token will go down in history.

If you want to participate in the airdrop, you may still be in time to deposit your ETH or your liquid counterparts to earn enough points for a good airdrop, but we advise against participating with a small size considering also the high network fees.

Indicatively, the minimum amount worth participating is 3-4 ETH.

TVL chart on EigenLayer

TVL chart on EigenLayer

Another project in this category to keep an eye on is Swell, a liquid staking protocol on which investors expect a dedicated airdrop for early users.

Even in Swell, community participation is calculated in the form of points, this time called “Pearls“, which will likely be converted into SWELL tokens at the expected TGE in April/May.

These “Pearls” are not listed on prediction markets like Whales Market, so we cannot define a reference price.

Also in this case we advise against trying to obtain the airdrop reward if we do not have at least some ETH to put at stake.

Anyway, judging from the rapidly growing TVL like the rest of the restaking sector and the enthusiasm of investors for this type of protocol, we can already say that Swell’s airdrop will be one of the best of 2024.

TVL chart on Swell

TVL chart on Swell, DefiLlama

Sourced from cryptonews.net.

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