Bankless: How to Double Earn Token Airdrops on Layer 2

Original: https://newsletter.banklesshq.com/p/how-to-double-up-on-airdrops-?utm_source=email

There are many Layer 2 (L2) scaling solutions that will launch native tokens.

There are also some applications on these L2s that will also launch their own tokens.

For the price of performing one on-chain activity now, you may receive two airdrops later.

So this Bankless strategy will show you how to “double down” on future airdrops while adopting layer 2 technology early.

• Goal: Learn about Doubling Airdrops
• Skills: Intermediate
• Effort: 30 minutes
• ROI: Earn future airdrops

Where to Look for Doubling Opportunities

Finding airdrops is part pastime and part modern degen on-chain work. Right now, the web3 frontier is where the best potential opportunity to effectively "double up" the airdrop can be found.

What I mean is to perform an activity to comply with two different future token allocations.

To find these opportunities, start here:

Find a promising Ethereum L2 that has yet to launch a token — or in the case of Optimism, the project plans to do more stages of token airdrops in the future.

Find and use apps on these L2s that don't yet have native tokens.

Keep in mind that this policy is not guaranteed. It might lead you to try an L2 or application that never actually launched its own token!

Early in the life cycle of the thriving L2 ecosystem, there will be quite a few "double" airdrops happening. Doing a good job of positioning yourself now will make a big difference in the future.

So if you're interested, consider trying out some tokenless apps on candidate L2 so that if any of these projects + rollups end up tokenizing to early users, you'll be one of those users .

As for which L2s to target specifically: Optimism, zkSync, and Arbitrum seem like easy targets.

For example, we already know that Optimism will continue with multiple rounds of OP airdrops, and the zkSync project has confirmed plans for its own token. The team at Arbitrum has been silent on token discussions, but appears to be ready to launch a token for community coordination.

This leaves us having to pick and choose tokenless specific applications that are currently available on these L2s. I'll help you cut to the chase by showing you some projects that fit that bill...

First, go to the bridge

There are many L2-centric bridge projects that have yet to launch tokens.

Earlier this year, Hop launched its HOP. It is likely that multiple bridges will be reverse-allocated in bids in the coming months to maintain liquidity.

Some bridges that may eventually launch their own tokens you might try:

• Bungee — support for Arbitrum, Optimism and other L1 EVMs
• deBridge — support for Arbitrum and other L1 EVMs
• Mosaic by Composable Finance — support for Arbitrum and other L1 EVMs
• Orbiter Finance — support for zkSync, Arbitrum, Optimism and other L1 EVMs
• transferto.xzy by LI.FI — supports Arbitrum, Optimism and other L1 EVMs

Some of these projects, like Orbiter Finance, may not have been fully audited, so use with caution — and of course, don’t use the full crypto stack.

However, these bridges currently offer some of the most obvious candidates for potential "double-up" airdrops.

Other L2 projects without tokens

In addition to bridges, here are some tokenless DeFi, NFT, and wallet projects on L2 that you can try:

Argent

Argent is a mobile social recovery wallet supporting Ethereum and zkSync L2. In terms of zkSync, Argent has curated L2 DeFi investment opportunities for Aave, Lido, and Yearn.

Using these integrations will set you up if Argent launches a token, and possibly the eventual zkSync token.

Potential strategies:

• Lend DAI or USDC on Aave using zkSync on Argent
• Staking ETH on Lido with zkSync on Argent
• Invest ETH, DAI, USDC or WBTC into Yearn using zkSync on Argent

DeFi Saver

DeFi Saver is an advanced DeFi management platform that acts like a personal on-chain command center.

Tokenless projects even let you simulate popular DeFi operations, so you can see how transactions work in advance. Earlier this year, the project rolled out support for Arbitrum and Optimism, and while the team has not indicated plans to airdrop tokens to its L2 users, the possibility is still in play.

Potential strategies:

• Redeem via DeFi Saver on Arbitrum or Optimism
• Use the Aave integration on DeFi Saver on Arbitrum or Optimism

Quixotic

Quixotic is currently the largest NFT marketplace on Optimism.

One day, it may choose to launch tokens like NFT marketplaces like SuperRare and RARE. Therefore, buying and selling NFTs on the platform may help you "double up" your Quixotic tokens (if that happens at all) and further OP airdrop stages.

Potential strategies:

• Buy NFTs on Quixotic
• Sell NFTs on Quixotic

in conclusion

It’s simple: find promising L2s that might distribute tokens, use cool tokenless apps on those L2s — and sit back and wait.

Of course, things may not always be that simple - for example, you may have to participate in broader schemes such as The Arbitrum Odyssey (currently suspended) to lock up token allocations.

Here's a low-risk, bear-market-ready speculative strategy that you can move on to now. But there are many things we don't know: how the potential L2 token distribution will work, or which projects will reveal token economics, etc.

What we do know, though, is that most L2s will likely launch tokens. Some applications on these L2s may also launch their own tokens.

So an easy way to position for these potential "double up" airdrop opportunities is to try out as many candidates as possible and see if there are any in the future.