What is Starknet Airdrop? Everything you need to know about the latest crypto giveaway

1. What is Starknet Airdrop?

1.1. What is Airdrop?

Before diving into Starknet Airdrop, it’s essential to understand what an airdrop is in the context of cryptocurrency. An airdrop refers to the distribution of free tokens to the wallets of selected users. These distributions are often used to promote new projects, reward loyal users, or distribute governance tokens as part of a decentralized network's launch.

1.2. What is Starknet?

Starknet is a decentralized ZK-Rollup (Zero-Knowledge Rollup) operating as a Layer 2 network on Ethereum. It leverages advanced cryptographic proofs to provide scalable and secure transactions, reducing the burden on the Ethereum mainnet while maintaining high levels of security and decentralization.

With Starknet, developers are not limited in the scale of DApp operations, allowing thousands of transactions to be processed per second. This is achieved through the use of ZK-Rollups technology, where transactions are grouped into “bundles” and verified using the Zero-Knowledge (ZK) proof method before being recorded on the main blockchain. Ethereum. This technique reduces the load of the main blockchain and increases the processing capacity of the network.

1.3. What is Starknet Airdrop?

Starknet Airdrop program is an activity where users receive free Starknet tokens (STRK) to promote and spread information about the Starknet project. During the airdrop, users can be given a set amount of STRK tokens or rewarded with Starknet tokens based on specific requirements, such as registering, completing tasks, or owning a different number of tokens.

The goal of the Starknet Airdrop is to build a large user community and generate interest in the Starknet project. At the same time, the airdrop can also help increase the consistency and popularity of Starknet tokens in the cryptocurrency market.

2. Why is Airdrop Starknet expected by many people?

There are 4 reasons why Starknet's Airdrop is expected by many people:

Get free tokens: Airdrop allows users to receive a certain amount of Starknet tokens for free. This attracts many people because there is no need to buy tokens and still have the opportunity to participate in the project
Create a user community: Airdrop attracts the interest and participation of a large number of users. To increase the number of project followers.
Increased liquidity: When Starknet tokens are widely distributed through Airdrops, it can create increased liquidity on exchanges. This can attract more investors and users to participate in trading and using Starknet tokens.
Build trust and credibility: Airdrops can help build trust and credibility for the Starknet project. After users receive tokens and experience the project, they will have an assessment perspective and believe in the project's potential in the future.

Starknet Airdrop is anticipated by many because it provides the opportunity to collect free tokens, build a user community, promote the project, and affirm trust with users.

3. Top 6 potential Airdrop projects in the Starknet network

3.1. zkLend

zkLend is a lending platform built on StarkNet, a layer 2 of Ethereum with scalability, fast transaction speeds, and reliable security. zkLend provides the following two main products:

Artemis: This is a decentralized DeFi protocol that allows users to borrow and lend money. Artemis allows users to perform these activities without the intervention of any intermediaries. Users can borrow money from the capital provided by the community, and at the same time, other users can lend their money to earn interest profits.

Apollo: This is a lending protocol specifically for financial institutions. Apollo provides features and solutions that enable financial institutions to engage in lending and profit from interest. This protocol is specifically designed to meet the complex requirements and processes of financial institutions, while ensuring transaction security and safety.

Since its introduction, zkLend's total TVL (Total Value Locked) value has increased steadily and currently reaches 60 million USD.

zkLend's token is named ZEND and has a total supply of 100 million. Of which, 33% of the total supply will be used as incentive rewards for the ecosystem. This shows that zkLend's airdrop potential is huge and can create many opportunities for users.

3.2. Ekubo Protocol

Ekubo Protocol is an advanced Automated Market Maker (AMM) protocol developed on the Starknet platform. It uses a centralized liquidity model to take advantage of the advantages of Starknet and provide the best trading experience and lowest fees for users.

Ekubo Protocol's centralized liquidity model allows users to execute transactions efficiently and quickly. Instead of relying on the contract intelligence and decentralization of the blockchain, the protocol uses several third parties to provide liquidity and ensure asset availability.

Ekubo Protocol was developed by Moody Salem, head of Uniswap's technical team. At the same time, this project has received a large investment of about 12 million USD from Uniswap. The Ekubo Protocol project is launching a reward program to incentivize users to use STRK tokens to add liquidity to the protocol.

3.3. Nostra

Nostra is a unique Super App developed on the Starknet platform, a layer 2 of Ethereum. The platform provides a secure, fast, and low-cost environment for DeFi transactions. With Nostra, users have the ability to borrow, lend and perform swap transactions on a single platform.

Nostra's main goal is to promote the growth of the DeFi ecosystem by providing a comprehensive and convenient trading experience. With the loan feature, users can leverage the financial potential of their assets and explore investment opportunities. At the same time, Nostra's lending feature provides benefits to those in need of loans.

In addition, Nostra also provides a swap feature, allowing users to swap different types of digital assets conveniently and quickly. This helps increase liquidity and flexibility for users during the transaction process.

Nostra plays an important role as a liquidity layer in the Starknet ecosystem. This means that the project contributes to creating a favorable liquidity environment for other DeFi projects on the Starknet platform. Support from major investment funds such as StarkWare, WinterMute and Jump provides funding and resources for Nostra Finance to develop and expand the scale of its operations.

3.4. JediSwap

JediSwap is a unique community-run decentralized exchange on the Starknet platform. A special feature of JediSwap is that it operates completely without permission, providing high interactivity and consensus among community members.

The JediSwap platform is led and managed by Mesh, a collection of individuals who share the same beliefs and vision of core principles such as transparency and equal access. Mesh creates a fair and trustworthy environment for trading activities on JediSwap, while ensuring that the rights and participation of community members are respected and guaranteed.

By operating on the Starknet platform, JediSwap benefits from the fast, secure and low-cost features of the Ethereum network. This gives users a smooth and efficient trading experience, while minimizing the barriers of time and transaction fees.

3.5. SithSwap

SithSwap is an advanced stable asset exchange protocol platform, built on Starknet. This protocol allows users and smart contracts to participate in the exchange of uncorrelated and correlated assets with flexible transaction fees and extremely low slippage.

SithSwap offers a comprehensive rewards system that enables users and projects to receive funding and earn weekly rewards. The purpose of this system is to drive trading volume and liquidity for automated exchanges (AMMs) on the SithSwap platform.

This reward system is designed to motivate users to engage in trading activities and provide liquidity to the exchange. Thanks to this, SithSwap creates a promising environment and attracts community participation, while enhancing the liquidity and trading capabilities of the AMM platform.

3.6. AVNU

AVNU is a decentralized exchange (DEX) designed with the goal of providing the best execution and creating a superior user experience. This exchange aims to ensure the most competitive prices for customers and provide access to as many assets as possible.

With AVNU, users can experience an advanced and convenient trading platform. This exchange offers the ability to carry out transactions quickly and efficiently, while ensuring transparency and safety. Transactions on AVNU are conducted directly between users without third-party intervention, creating a decentralized and trusted trading environment.

One of the key elements of AVNU is its ability to provide diverse access to assets. This exchange allows users to exchange between different types of digital assets, including cryptocurrencies, tokens, and other digital assets. This provides flexibility and broad choice to users, helping them take advantage of the financial potential of diverse markets.

Besides ensuring competitiveness and access, AVNU also focuses on user experience. The trading platform's interface is designed to be simple and easy to use, providing a convenient and intuitive trading experience. Users can execute trades easily and quickly, and enjoy tools and features to help them achieve their trading goals.

4. Instructions to participate in Starknet Airdrop

Step 1: Create wallet

To experience projects on Starknet, you need to use one of the two recommended wallets, AgentX or Braavos. These are the two wallets with the largest number of users and are popular in the Starknet network. Owning a wallet gives you convenient and secure access to Starknet features and applications.

To get started, you need to install the Starknet wallet on your web browser. This ensures that you have access to the Starknet network and interact with projects on the platform. Installing a wallet in your browser is usually very easy and only takes a few simple steps.

After successfully installing the Starknet wallet, you will continue the process of creating a new wallet. This process usually involves creating a set of strong and secure passwords, ensuring that only you can access your wallet. Additionally, you may be asked to provide some basic personal information to authenticate and secure your account.

Once you have completed the wallet creation process, you will have a unique wallet address on Starknet. This address is similar to an “email address” that represents your account on the Starknet network. You can use this wallet address to receive and send tokens, participate in projects, and interact with the Starknet community.

Step 2: Bridge assets to Starknet network

To convert and use assets on the Starknet network, you need to use a bridge to bridge (connect) assets from other networks to the Starknet network. In this case, there are two popular options: using Obiter Finance's bridge or using Starkgate bridge.

Obiter Finance is a project that provides a bridge between different networks and the Starknet network. The advantage of Obiter Finance is that it operates smoothly and supports many different networks, allowing you to convert assets from Ethereum, Binance Smart Chain and many other networks to Starknet. In addition, Obiter Finance has cheaper fees than other bridges, creating favorable conditions for users.

However, it should be noted that Obiter Finance is not an official bridge of Starknet. This can affect several aspects such as security and trustworthiness. Before using an Obiter Finance bridge, make sure you understand the risks involved and consider whether it is suitable for your needs.

Another option is to use a Starkgate bridge. Starkgate is the official bridge of Starknet and is developed by the project's main development team. A big advantage of Starkgate is its reliability and safety, as it is guaranteed to comply with security standards and is thoroughly tested. However, Starkgate only supports asset conversion from the Ethereum network to Starknet and has higher fees than Obiter Finance.

Before deciding which bridge to use, carefully consider the pros and cons of each option. This helps you ensure that you choose the right method for your needs and goals when using Starknet.

Step 3: Explore projects on Starknet

For DEX projects on Starknet, there are a number of activities you should perform, including swapping, adding liquidity, and staking (depositing money into the system to receive yield). To increase your chances of receiving Airdrop, you should make many transactions with large volume. Also, to avoid being viewed by the project as bot activity, perform these activities on different days.

There are two NFT Marketplace projects on Starknet that you can explore, Mint Square and Aspect. To experience these projects, you need to perform activities such as creating new NFTs (mint NFTs), buying and selling NFTs on the platform.

5. Conclusion

The Starknet Airdrop represents an exciting opportunity for crypto enthusiasts to engage with a promising Layer 2 solution on Ethereum. By understanding the mechanics and benefits of the Starknet Airdrop, participants can make informed decisions and potentially reap significant rewards. As with any involvement in the crypto space, due diligence and cautious optimism are key to maximizing the benefits while minimizing risks. Stay tuned to Starknet’s official channels for the latest updates and announcements regarding the airdrop.

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