SyncSwap is the currently the largest decentralized exchange in the zkSync ecosystem. The team has confirmed that a token called $SYNC is on the way so the possibility of an airdrop is high. Let's go over how you can qualify for the potential SyncSwap token airdrop.
These tasks also help your eligibility for the highly anticipated zkSync airdrop. Check out that guide as well to maximize your rewards!
What is SyncSwap?
SyncSwap is a decentralized exchange (DEX) live on the zkSync Era mainnet. Users can make trades and deposit liquidity into pools to earn trading fees. As of July 2023, SyncSwap has $82 million TVL according to DefiLlama, making it the largest protocol in the zkSync ecosystem.
SyncSwap Token ($SYNC)
On April 5, 2023, SyncSwap confirmed they are launching a token with the ticker symbol, "$SYNC."
Is the SyncSwap Airdrop Confirmed?
While SyncSwap confirmed they are launching a token called $SYNC, they have not officially confirmed an airdrop. Like most airdrops, lots of people are just speculating.
If we look to similar examples, many decentralized exchanges have had airdrops in the past. Uniswap is the most popular example, who airdropped about $351 million worth of UNI to its early users. Other DEX airdrops include 1Inch ($84 million), DYDX ($800 million), and many others.
Overview: How to Receive The Potential SyncSwap Airdrop
While there is no official criteria, using the SyncSwap DEX is obviously your best shot at getting into the airdrop snapshot. However, just making a few trades may not be enough. To maximize your chances, you should try to do lots of transactions, transact in different months, increase your volume, and use the Liquidity Pools and other features available.
- Add the zkSync Era network to your crypto wallet
- Bridge ETH from Ethereum Mainnet to zkSync Era
- Visit the SyncSwap Website
- Make a swap on the SynscSwap Era Mainnet
- Go to the pools and add liquidity
- Do a swap and add liquidity to the pools on SyncSwap Era Testnet
- Join their Discord
- Join the SyncSwap Guild and complete the tasks
1. Bridge ETH to zkSync Era Mainnet
First, you need a crypto wallet like MetaMask with some Ethereum to use in the later steps. After you have a wallet with some ETH, you need to add the zkSync Era Mainnet network to your wallet. You can do this quickly on Chainlist.org or read this CoinGecko tutorial.
Then, head to the official zkSync Era bridge which allows you to easily transfer funds between Ethereum Mainnet and the zkSync Era network. On the website, connect your crypto wallet and transfer ETH from Ethereum Mainnet to the zkSync Era Mainnet. Make sure you send enough to pay for gas fees in the later steps. It should take about 5 minutes to arrive according to the website and a gas fee is required to use the bridge.
2. Make A Trade On SyncSwap
Once you've bridged your funds, head over to SyncSwap and click on the "Trade" tab to visit the Swap page. Connect your wallet and make sure it's on the zkSync Era Mainnet network in the top right corner. Then, choose the tokens you want to trade, fill in the amount and click "Swap".
Your total transaction volume and total number of transactions could play a role in the potential $SYNC token airdrop. So like any airdrop, try to interact with the protocol frequently to maximize your chances. However, only do what you can afford.
3. Add Liquidity To The Pools
The next task is to go to the Pools page and add liquidity to one of the pools. Click on a pool that you like, press "Enter", find the "Deposit" button, and fill in the amount of tokens you'd like to deposit. By adding tokens to the liquidity pool, you provide liquidity to traders. In return, you will earn some of the trading fees generated by SyncSwap. You can withdraw your tokens whenever you like.
4. Use The SyncSwap Testnet
Using SyncSwap on the zkSync Era Testnet could also qualify you as an early adopter for the airdrop, which is what we're looking for. To do this, go to SyncSwap and change the network to the zkSync Era Testnet in the top right corner.
Next, you will need to get testnet ETH. You can click on the "Faucet" button in the top right corner and follow the instructions. It will send you to the zkSync Portal Bridge where you need to switch the network in the bottom left corner to "zkSync Era Testnet". Click "Receive", and then "Receive test tokens". After a few minutes, you'll have free tokens. Finally, go back to SyncSwap and make a swap and add liquidity to the pools like you did earlier, but this time using the free testnet tokens.
5. Join Their Discord
Join the official SyncSwap discord and complete the verification to become a member. This is also a requirement for the next step.
6. Complete Tasks on Guild.xyz
After joining the official Discord, you will see a message from the Guild.xyz bot. Click "Join SyncSwap Guild" and you will be redirected to the website below. Complete as many tasks as you can like following them on Twitter. Lots of the tasks like collecting certain NFTs have ended, but you can be on the lookout for future campaigns.