Airdrop rumors result in a swarm of activity on MetaMask Swap and Polygon


5- to six-figure-size airdrops have turn out to be the brand new norm within the crypto sector, and a rising variety of analysts imagine there are extra to come back. In September, dYdX distributed a large airdrop to early customers, and final week, the Ethereum Title Service gave out roughly $17,000 to $30,000 in ENS tokens to platform customers. Anticipation of extra “helicopter cash” has additionally led to a flurry of airdrop hunters in search of out the subsequent large rating.

The mad sprint to have interaction with protocols and qualify for doable token drops led to an uptick in exercise on Polygon, a preferred layer-two platform, and MetaMask. Since final week, rumors that MetaMask could launch its personal token have been circulating, and that is mirrored within the elevated engagement on MetaMask Swap.

In response to knowledge from Delphi Digital, exercise by means of MetaMask Swap “has seen an enormous utilization improve in current days” because the rumors of a doable airdrop are unfold by influencers like Chico Crypto and a variety of Crypto Twitter entities.

MetaMask swap quantity vs. every day lively customers on Polygon and Ethereum. Supply: Delphi Digital

As proven within the graph above, the quantity of Ether (ETH) transacted by means of MetaMask Swap has seen a big improve since late October, and the every day lively customers of MetaMask Swap on Polygon has surged from 2,000 on Nov. 6 to 9,000 on Nov. 12.

MetaMask 2021 income. Supply: Delphi Digital

Because of the elevated swap quantity and the 0.875% price that MetaMask takes from every swap, the protocol has amassed $200 million in income in 2021. This determine is spectacular, particularly in contrast with rivals like SushiSwap, which has earned $70 million year-to-date, and Curve, which pulled in $12 million.

Excessive Ethereum charges push airdrop hunters to Polygon

Excessive charges on the Ethereum community are the doubtless offender behind the outsized bounce in customers on Polygon.

Proof of the pickup in exercise on Polygon may also be discovered when trying on the common gasoline value of transactions on the community, which has been on the rise because the center of October when the community noticed a big improve within the common transaction value.

Common value of gasoline on Polygon. Supply: Polygon Scan

Associated: Portal companions with Polygon to advance DeFi on Bitcoin

In response to knowledge from DappRadar, the 30-day common variety of transactions on MetaMask Swap has elevated by 13.95% whereas the variety of lively customers has risen 18.25%.

MetaMask swap statistics. Supply: DappRadar

The historic exercise chart above additionally reveals a big spike in quantity on Nov. 11, proper as rumors a few potential airdrop have been extensively circulating on crypto social media channels.

Whether or not or not the spike in exercise will repay for these in search of an airdrop stays to be seen, and it’s doable that MetaMask will make use of some measures to counteract these attempting to sport the system with Sybil assaults, just like what was seen with Ribbon Finance.

The current airdrop from ParaSwap offers instance of a few of these “anti-airdrop hunter” countermeasures that could possibly be taken to thwart these seeking to sport the system. The ParaSwap group made certain that just one.5% of distinctive addresses that engaged with the protocol acquired the airdrop, a lot to the chagrin of airdrop hunters and trustworthy early customers of the platform.

For the time being, it isn’t confirmed whether or not or not the group at MetaMask will launch its personal native token or whether or not an airdrop will happen. Which means that all the prompt strategies for interacting with the platform as a way to obtain this rumored airdrop are nothing greater than hypothesis, for now.

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