Airdrop
The airdrop and points programs the author is taking part in or considering. Funding, team and TGE timing are checked against official announcements and press reports, with sources on each project's page.
Updated: 2026-11-08
Perp trading9
| Project | Base | ||||
|---|---|---|---|---|---|
 ArcusMainRobinhood ChainStart | Early | Date not setPress | Undisclosed | 370.5K | Unverified |
 Variational (Omni)MainArbitrumStart | Late | 2026 Q4 (official)Official | $61.8M | 67.2K | Cayman Islands (registered entity) |
 EntropyHyperliquid (HIP-3)Start | Early | Not announced | $14M | 15.1K | Unverified |
 HibachiOff-chain order book + ZK settlement (deposits on Arbitrum / Base / Arc)Start | Mid | Date not setPress | $5M | 25.9K | Singapore |
 Lighter (Robinhood Chain)Own ZK rollup / Robinhood Chain versionStart | Early | $LIT2025-12-30 | $68M | 128.1K | United States |
 HyperliquidOwn L1 (HyperCore + HyperEVM)Start | TBA | $HYPE2024-11-29 | None | 425.9K | Singapore |
 trade.xyzHyperliquid (HIP-3) | TBA | Not announced | Undisclosed | 52.1K | Unverified |
 QFEXOwn matching engine (USDC margin)Invite | TBA | Not announced | $9.5M | 6.5K | United Kingdom (London) |
 ExtendedStarknetStart | Late | Date not setPress | $19M | 30.4K | Unverified |
DeFi (lending)2
| Project | Deposit | Yield / rewards | Base | ||
|---|---|---|---|---|---|
 Theo NetworkEthereum and othersStart | USDC | 6.5–11% a year (by vault)Locked-vault yield paid in thUSD, plus thUSD points | $20M | 119.5K | Unverified |
 Huma FinanceSolana and othersStart | USDC | About 8% a year (Classic, variable)Yield from payment financing paid in USDC, plus Feathers | $38M | 117.7K | Unverified |
Staking6
| Project | Token | Yield / rewards | FDV | FDV ÷ revenue | Base |
|---|---|---|---|---|---|
 ether.fiEthereumStart | $ETHFI | Not published (depends on buybacks)Bought-back ETHFI is distributed to sETHFI holders. You also earn ether.fi loyalty points | $652M | 14.3xRecent 16.7x | Unverified |
 Superform (SPCX SuperVault)BaseStart | $SPCXc | About 20% a year (variable)Paid in USDC and sUP (a receipt for deposited UP, Superform's token). The base yield is 0%; it is all rewards | $96.2M | 2988xRecent 4250x | Unverified |
 JupiterSolanaStart | $JUP | 18–20% a year (estimate)50M JUP per quarter shared among DAO voters | $2.4B | 27.3xRecent 35.8x | Unverified |
 MeteoraSolanaStart | $MET | A share of DLMM fees paid in USDC (APY not published) | $338M | 7.1xRecent 12.0xAt cost 4.2x | Unverified |
 CAKE (PancakeSwap)BNB Chain and others | $CAKE | Varies by poolStake in a Syrup Pool to earn other tokens or CAKE | $1.0B | 12.4xRecent 17.4x | Unverified |
| HYPEOwn L1 (HyperCore + HyperEVM) | $HYPE | 2.2–2.4% a year (variable)HYPE from delegating to a validator (auto-compounding) | $85B | 123xRecent 149x | Singapore |
Points1
| Project | Base | ||||
|---|---|---|---|---|---|
 near.comNEAR Intents (35+ chains)Start | Mid | $NEAR2020-10-13 | Undisclosed | 1.83M | Unverified |
Holding1
| Project | Token | Note | FDV | FDV ÷ revenue | Base |
|---|---|---|---|---|---|
 ZEC (Zcash)Own chain (PoW) | $ZEC | A PoW chain with a 21M supply cap. It halves on the same schedule as Bitcoin; the next halving is expected in November 2028. It is known for shielded transactions using zero-knowledge proofs, which make up about 59% of network transactions. | $24B | — | United States |
Perp trading9
- Phase
- Early
- TGE
- Date not setPress
- VC funding
- Undisclosed
- X followers
- 370.5K
- Base
- Unverified
- Phase
- Late
- TGE
- 2026 Q4 (official)Official
- VC funding
- $61.8M
- X followers
- 67.2K
- Base
- Cayman Islands (registered entity)
- Phase
- Early
- TGE
- Not announced
- VC funding
- $14M
- X followers
- 15.1K
- Base
- Unverified
- Phase
- Mid
- TGE
- Date not setPress
- VC funding
- $5M
- X followers
- 25.9K
- Base
- Singapore
- Phase
- Early
- TGE
- $LIT2025-12-30
- VC funding
- $68M
- X followers
- 128.1K
- Base
- United States
- Phase
- TBA
- TGE
- $HYPE2024-11-29
- VC funding
- None
- X followers
- 425.9K
- Base
- Singapore
- Phase
- TBA
- TGE
- Not announced
- VC funding
- Undisclosed
- X followers
- 52.1K
- Base
- Unverified
- Phase
- TBA
- TGE
- Not announced
- VC funding
- $9.5M
- X followers
- 6.5K
- Base
- United Kingdom (London)
- Phase
- Late
- TGE
- Date not setPress
- VC funding
- $19M
- X followers
- 30.4K
- Base
- Unverified
DeFi (lending)2
- Deposit
- USDC
- Yield / rewards
- 6.5–11% a year (by vault)Locked-vault yield paid in thUSD, plus thUSD points
- VC funding
- $20M
- X followers
- 119.5K
- Base
- Unverified
- Deposit
- USDC
- Yield / rewards
- About 8% a year (Classic, variable)Yield from payment financing paid in USDC, plus Feathers
- VC funding
- $38M
- X followers
- 117.7K
- Base
- Unverified
Staking6
- Token
- $ETHFI
- Yield / rewards
- Not published (depends on buybacks)Bought-back ETHFI is distributed to sETHFI holders. You also earn ether.fi loyalty points
- FDV
- $652M
- FDV ÷ revenue
- 14.3xRecent 16.7x
- Base
- Unverified
- Token
- $SPCXc
- Yield / rewards
- About 20% a year (variable)Paid in USDC and sUP (a receipt for deposited UP, Superform's token). The base yield is 0%; it is all rewards
- FDV
- $96.2M
- FDV ÷ revenue
- 2988xRecent 4250x
- Base
- Unverified
- Token
- $JUP
- Yield / rewards
- 18–20% a year (estimate)50M JUP per quarter shared among DAO voters
- FDV
- $2.4B
- FDV ÷ revenue
- 27.3xRecent 35.8x
- Base
- Unverified
- Token
- $MET
- Yield / rewards
- A share of DLMM fees paid in USDC (APY not published)
- FDV
- $338M
- FDV ÷ revenue
- 7.1xRecent 12.0xAt cost 4.2x
- Base
- Unverified
- Token
- $CAKE
- Yield / rewards
- Varies by poolStake in a Syrup Pool to earn other tokens or CAKE
- FDV
- $1.0B
- FDV ÷ revenue
- 12.4xRecent 17.4x
- Base
- Unverified
- Token
- $HYPE
- Yield / rewards
- 2.2–2.4% a year (variable)HYPE from delegating to a validator (auto-compounding)
- FDV
- $85B
- FDV ÷ revenue
- 123xRecent 149x
- Base
- Singapore
Points1
- Phase
- Mid
- TGE
- $NEAR2020-10-13
- VC funding
- Undisclosed
- X followers
- 1.83M
- Base
- Unverified
Holding1
- Token
- $ZEC
- Note
- A PoW chain with a 21M supply cap. It halves on the same schedule as Bitcoin; the next halving is expected in November 2028. It is known for shielded transactions using zero-knowledge proofs, which make up about 59% of network transactions.
- FDV
- $24B
- FDV ÷ revenue
- —
- Base
- United States
How to read this page
- Projects are grouped by how the author takes part: perp trading, DeFi lending, staking, points and holding. Click a column heading to sort. The default order is the author's recommendation. "Main" marks what the author focuses on most; "Side only" marks projects used for a limited reason, such as a one-off event.
- In the staking and holding groups, "FDV ÷ revenue" is the fully diluted valuation divided by the last 365 days of revenue (the line below uses the last 90 days × 4). The author treats 5x or less as cheap and highlights those. The denominator is revenue, not profit.
- The phase (early, mid, late) is the author's judgment from how long the points program has run and how close the TGE is. The reasoning is on each project's page.
- X followers are a rough gauge of reach. They include bots and dormant accounts and do not match actual users.
- "Start" buttons are referral links. The author may be rewarded when you sign up or trade. What is written here is not tied to those rewards.
- Airdrops and points have no guaranteed value. A TGE may never happen, you may be excluded from the distribution, and you can lose the funds you deposit.
- The author is based in Japan, and some notes describe access from Japan. Check whether each service is available where you live, and your own tax obligations. See the disclaimer (Japanese).