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Meme token airdrops and rewards have become popular strategies to engage communities and incentivize participation within the crypto space. Airdrops, often used as marketing tools, distribute free tokens to holders or potential users, creating buzz and expanding user bases. These tokens typically belong to meme-based projects that leverage humor and community sentiment to drive interest. Rewards programs often complement airdrops, encouraging users to engage with the platform through staking, trading, or social media interactions. By rewarding loyal participants, projects can foster a sense of community and loyalty, enhancing overall project sustainability. However, while airdrops and rewards can stimulate initial interest, they also come with risks. Many meme tokens lack substantial backing, leading to price volatility and potential losses for investors. Additionally, some projects may resort to airdrops as a way to pump prices temporarily, only to see them plummet after the event. Ul...

NFT marketplace Blur allocated a total reward pool of 300 million tokens, worth around $146 million, for traders who use their platform. A pseudonymous nonfungible token (NFT) trader made around $11 million in the recent airdrop reward distribution conducted by the NFT marketplace Blur.  Dune analytics data showed that a wallet with the Ethereum Name Service (ENS) tag called “hanwe.eth” claimed a total of 22,851,000 Blur (BLUR) token s in the season 2 airdrop of Blur. At the time of writing, coin price tracker CoinGecko showed that the amount is worth around $11.2 million. It's time to BLAST OFF. I just received 22851000 $BLUR from @BLUR_io's Season 2 drop. Season 3 starts NOW and is powered by @BLAST_L2, the only L2 with native yield backed by Paradigm and Standard Crypto. pic.twitter.com/jDKgc0wInS — Hanwe (@HanweChang) November 21, 2023 The end-of- season airdrop is one of the strategies employed by Blur to attract traders to use its platform. Blur rewards those who ...

Solana (SOL) is one of the best-performing cryptocurrencies in 2023, with over 200% in price gains year-to-date. This results from a growing demand for its native token, which investors can stake in exchange for staking rewards . Notably, Solana is the second-largest cryptocurrency by Staking Market Cap, according to data from StakingRewards.com. As of October 24, there is $12.72 billion at stake in Solana’s network, for a total of 400.05 million SOL tokens locked by validators and delegators in the protocol. The protocol creates new tokens to reward investors when they stake their SOL to secure the Solana blockchain. Similar to what happens with Bitcoin (BTC) mining or Ethereum’s (ETH) system. However, the supply inflation resulting from these rewards can also impact the real reward rate for Solana investors. It is essential to understand that the increased circulating supply dilutes the SOL holder‘s true value. Finbold demonstrated this dilution in a previous report analyzing t...

The ApeCoin ecosystem is progressing with games and brand-building, but the 100% APY reward for APE staking could eventually do more damage than good. In January, ApeCoin (APE) had an underwhelming performance compared to metaverse-based tokens like Decentraland (MANA) and The Sandbox (SAND). APE token gained 61% compared to the 90% and 150% respective gains seen in SAND and MANA. The subdued gains can be attributed to the hefty APE staking rewards that is likely creating some selling pressure. An upcoming unlock of around 9% of APE’s circulating supply in March 2023, along with not-so-impressive fundamentals, will add further headwinds for the token. The gains in APE will depend on the success of the blockchain gaming projects in the ApeCoin ecosystem and new partnerships between Yuga Labs and big brands. Traders take advantage of oversized APE staking rewards ApeCoin DAO launched its APE staking mechanism in December 2022. The APE staking pool yielded 90% annual returns in the first...