Li.Fi is a bridge aggregator which can also connect with decentralized exchanges (DEXs). Their main feature is a widget that provides plug ‘n’ play cross-chain support. Li.Fi also hasn’t released a Token yet, but it is highly speculated they will do so. And this may mean the possibility of a potential Li.Fi token airdrop. In this article, we provide the ultimate guide on how you can best position yourself for a potential Li.Fi token airdrop.
What is Li.Fi?
Li.Fi is a bridge and DEX aggregator. It can route any cryptoasset on any chain to the desired asset on the desired chain. For example, if you have USDT on the Ethereum network and you want USDC on Avalanche, you an use Li.Fi as a bridge. The Li.Fi Widget is a set of pre-built UI components that can help developers integrate a secure cross-chain bridging and swapping experience into their web apps. It allows users to preview the swap route before connecting their wallet, view swaps in progress and swap history, and manage their wallets with custom theming and dark mode support.
Li.Fi was founded by Philipp Zentner and Max Klenk. Investors include Coinbase Ventures, Rocktree Capital, AngelDAO, Dragonfly Capital, among others. They recently raised US$5.5mil in their strategic ecosystem round, which was led by 1kx Network.
Does Li.Fi have a token?
Li.Fi does not have a token yet, but Co-Founder Philipp Zentner did confirm that a token will come eventually. With over US$5.5m being raised so far and high profile investors such as Coinbase Ventures, it is likely that Li.Fi would do a token airdrop in order to draw more users. Especially since there are many who consider Li.Fi a very useful protocol.
How to receive a potential Li.Fi token airdrop?
As the Li.Fi token has not been announced yet, this means a snapshot should not have been taken yet to determine who would be eligible for airdrop. So it is not too late to get started. The consensus amongst speculators seems to be that a potential airdrop would be given based on the volume bridged. Here’s how to get a potential Li.Fi token airdrop:
- Go to Jumper.exchange and connect your wallet.
- Select which chain and token you wish to swap.
- You will be given some options for how to do the swap. Choose your preferred method and click “Start swap”.
- Repeat this process with other chains and tokens.
- Join their Discord.
To maximise your potential airdrop, it is recommended to swap between L2 blockchains. L2 blockchains include Optimism, Arbitrum, Avalanche, BNB Chain, Polygon, Gnosis Chain, and Fantom. This is because the fees and slippage will be lower.
Learn more about Layer 2 blockchains- Understanding Layer 2 & Scaling Solutions: Arbitrum, Boba, Optimism, Polygon, Ethereum 2.0
Li.Fi token airdrop review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: Unknown, but Li.Fi’s Co-founder have confirmed they will issue a token.
Airdropped Token Allocation: No information is available on the Li.Fi airdrop token allocation.
Airdrop Difficulty: Preparing for this airdrop only requires swapping assets between blockchains. This is very simple and in fact many may even need to do this as part of trading cryptocurrencies.
Token Utility: The Li.Fi token utility is unknown.
Token Lockup: No information is available on the Li.Fi token lockup.
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