Fueling the Next Wave of Layer 2 Airdrops | Layer 2 Review

Quick Reads and Hot Links Covering the People and Projects Who Are Scaling Ethereum

Oct 10, 2024

Dear Frens,

We are constantly seeing new and exciting developments unfold on Ethereum’s layer 2. Uniswap, the largest decentralized exchange, is set to launch its own blockchain, Unichain, as a Layer 2 network on Ethereum built using Optimism's OP Stack. This move promises faster transactions and improved liquidity.

Scroll is making a major move toward decentralization with the upcoming launch of its native token, SCR. Scheduled for October 22, the token will be listed on Binance and a portion will be distributed to eligible users. Of the 1 billion SCR tokens, 15% will be airdropped, 35% allocated for ecosystem growth, and 17% reserved for investors, with the remainder going to the Scroll Foundation and contributors.

Next up, Optimism's Airdrop 5 has gone live, rewarding power users who have actively contributed to the growth of the Superchain ecosystem. These users have engaged with leading apps across social, DeFi, gaming, and more on the Superchain, proving that when we build and contribute together, everyone benefits.

This issue’s editorial is perfect for you if you’re looking to be a part of the coming airdrops in the Layer 2 space. Keep your eyes peeled for what’s next, because in this space, the only thing constant is change. Stay on the cutting edge of innovation and keep exploring the future.

Contributors: Ritaakubue, Melasin, Lucent Tonytad, Boluwatife, Kornekt, WinVerse

This is an official newsletter of BanklessDAO. Please subscribe and share to help us grow our audience as we fulfill our mission to build user-friendly crypto onramps.

🗞️ Ecosystem Updates

⛓️ Optimism Unveils Airdrop 5 for Superchain Users

🔀 Retro Funding 6: Optimism Governance Sign Up is Now Open!

➿ Optimism Partners Edge City’s Interop Day to Enhance Ethereum Ecosystem Growth

⚡Welcoming Unichain to the Superchain

⭕ Magic Eden Ecosystem Joins Arbitrum With Ubisoft’s New G.A.M.E Launch

🔒 Holders of the Infinite Rainbows NFT Can Now Redeem Stylus Merch!

📈 Arbitrum Online Hackathons Running Now Until End of October – Join the Action!

🏛 Governance

💬 Proposals in Discussion

Arbitrum

Optimism

Cycle 28 Grants Final Roundup

Polygon

Introducing Our New DNS Discovery for Polygon PoS: Faster, Smarter, More Connected!

Fueling the Next Wave of Layer 2 Airdrops

Author: Lucent

The Ethereum ecosystem has seen rapid expansion with the rise of Layer 2 solutions addressing scalability challenges. As these networks gain momentum, airdrops have become the most popular way to distribute tokens and drive community engagement.

Airdrops are a marketing strategy where blockchain projects distribute free tokens to users, driving engagement and adoption. For Layer 2 projects, this tactic helps incentivize developers and users to build and use their platforms, boosting network visibility. Airdrops from projects like Arbitrum and zkSync have fueled significant participation by rewarding users based on criteria such as wallet activity and transaction history.

However, maintaining user interest post-airdrop is often a challenge. Successful airdrops have led to spikes in network activity, but there’s much groundwork to be done between the initial hype and the eventual token distribution. Let’s examine how some top L2 protocols are preparing for potential token launch and how users can position themselves to benefit from these airdrops.

Scroll

Scroll is a Layer 2 solution leveraging zkEVM technology to scale Ethereum while maintaining compatibility with the Ethereum Virtual Machine (EVM). Since its mainnet launch in October 2023, Scroll has rapidly grown in terms of total value locked (TVL), boasting over $1.25 billion per L2Beat, at the time of writing.

Scroll employs a gamified approach to encourage network activity. The Scroll Sessions program, a part of Scroll's strategy, enables users to earn "Scroll Marks" based on their activity within the ecosystem. These marks may contribute to user eligibility for the upcoming airdrop of SCR, Scroll’s native token. Beyond these marks, Scroll runs a badge system where users earn non-transferable badges that signal their involvement in the ecosystem.

Scroll has announced its first airdrop of its native token, SCR, scheduled for October 22, 2024 and will distribute 7% of the total token supply. Another 8% will be reserved for future airdrops. This approach fuels engagement and aligns with Scroll’s goal of decentralizing governance, as SCR will play a crucial role in the platform’s decision-making process.

Linea

Linea, developed by ConsenSys, is another Layer 2 solution that adopts zkEVM technology, similar to Scroll. However, unlike Scroll, Linea is yet to announce an official airdrop date. Still, it has kept its community engaged through the Surge Program, a point-farming initiative that enables users to accumulate Voyage XP points (LXP). These points could play a key role in the future token airdrop, which many speculate will follow a similar structure to zkSync or Arbitrum’s past distributions.

The Surge Program incentivizes liquidity provision and asset onboarding across different DeFi protocols. The program splits into six monthly phases, known as "Volts," and will continue until either six months have passed or the network reaches a total value locked (TVL) of $3 billion.

This system encourages early and sustained participation by rewarding liquidity providers with ecosystem points, which multiply based on liquidity levels and decay over time for those who engage later. Users can also earn Referral Points and Veteran Points for bringing new participants into the ecosystem and their contributions to other blockchain projects, respectively.

The point-farming phase has the dual benefit of growing Linea’s ecosystem while building anticipation for its potential token launch. While the timeline remains uncertain, early-stage participants will most likely benefit the most from the airdrop.

Optimism

We cannot talk about L2 airdrops without talking about Optimism. The Optimism Collective operates a community-focused approach with an economic model built to benefit both builders and users. Builders receive funding through the retroactive public goods program, while users gain from OP token airdrops and project incentives. So, if you’re not building, you’re likely a user, with plenty of airdrop rewards if you stay engaged.

A notable 19% of Optimism’s total OP token supply is earmarked for user airdrops, rewarding those who contribute to the Optimism and Ethereum communities. Optimism's airdrops are structured in multiple waves, recognizing active participants, particularly those underrepresented in traditional Ethereum spaces. The first airdrop distributed 5% of the total supply to 248,699 addresses, while the second airdrop allocated 11,742,277 OP to 307,965 unique addresses, rewarding governance participation and consistent network usage. Airdrop 3, held in September 2023, distributed 19,411,313 OP to 31,870 addresses, focusing on contributors across the Optimism ecosystem. Airdrop 4 shifted focus to builders and creators within the Superchain.

The latest wave came just yesterday; Airdrop 5 distributed 10,368,678 OP tokens to 54,723 addresses that had actively engaged with the Superchain ecosystem between March 15 and September 15, 2024. Users who interacted with at least 20 unique contracts and maintained a contract-to-transaction ratio of 10% or higher, were eligible. Additional bonuses were available for those who completed at least 10 app transactions per week over 20 distinct weeks or participated in SuperFest missions or engaged in any of the other bonus-eligible activities.

If you missed out on Airdrop 5, don’t worry, there’s more to come. Over 500 million OP tokens are reserved for future airdrops. To increase your chances of qualifying, stay active across the Superchain, interact with multiple dApps, and explore diverse contracts within the ecosystem. Optimism is nowhere near finished, who knows how many more waves they have in store?

Bunch of Free Money?

Airdrops aren’t just about luck; they require intention, effort, and timely action. As we're seeing with Scroll, Linea, and Optimism, these opportunities reward users who actively engage with the ecosystem, whether it’s farming points, interacting with dApps, or contributing liquidity. It's not enough to sit on the sidelines and hope for a windfall. If you're serious about being part of the next wave of airdrops, explore these networks, understand their tools, and stay consistent. The networks are growing, the rewards are real, but it's up to you to get involved.