Socket is an interoperability protocol that enables secure and efficient transfer of data and assets across different blockchain networks. It is not a bridge or a cross-chain application, but rather an infrastructure that allows developers to build these applications easily. With Socket, developers can create apps with interoperability as a core part of their infrastructure. Socket has already secured US$5 million in funding and is considered a direct competitor to LayerZero– who is getting lots of attention with their potential LayerZero airdrop. So, there’s a good chance Socket may also do an airdrop in order to get more users. Here’s how to get a potential Socket token airdrop (and the potential Bungee and zkSync token airdrops at the same time!). And with our bonus tip, you may also be eligible for potential Stargate and LayerZero airdrops too!
Learn more:
- Bungee Token Airdrop Guide
- zkSync ($ZKS) Token Airdrop Guide
- Stargate Finance ($STG) airdrop guide
- LayerZero ($ZRO) Token Airdrop Guide
Socket token airdrop step-by-step guide
- Connect your wallet to Bungee
- Bridge tokens
- Check your gas settings
- BONUS: Get Stargate and LayerZero airdrops too!
What is Socket?
Socket is a protocol that enables secure and efficient transfer of data and assets across different blockchain networks. It is not a bridge or a cross-chain application, but rather an infrastructure that allows developers to build these applications easily. With Socket, developers can create apps with interoperability as a core part of their infrastructure.
Socket comprises two key components: Socket Liquidity Layer (SocketLL) and Socket Data Layer (SocketDL). SocketLL enables efficient asset transfer across chains, while SocketDL enables secure data transfer across chains. Developers can use Socket to optimize for their use case and objectives, as every approach to interoperability optimizes for different objectives and trade-offs (trust, latency, generalizability, etc.)
Will there by a Socket airdrop?
Socket has not announced a token, yet. However, if they want to stand out like their competitor, LayerZero, it is likely that they will also need to do an airdrop. From looking at LayerZero’s number of users and attention it gets on social media, it is clear that doing airdrops is almost guaranteed to bring attention and users to your project.
The project also works with other notable protocols such as Zerion and Bungee, both of which are rumoured to be doing their own airdrops. So there are nevertheless advantages to preparing yourself for any potential Socket airdrop, since this may also make you eligible for the Zerion and Bungee airdrops too.
Did you know that you can also position yourself for a LayerZero airdrop using Socket (even though they are competitors)? Check out below to learn how!
Socket token airdrop guide
Time needed: 1 hour and 30 minutes
- Connect your wallet to Bungee
Connect your wallet to Bungee. Using Bungee may make you eligible for any potential Socket airdrop as Bungee is built by Socket.
- Swap across chains
Swap ETH from Ethereum chain to any other chain.
BONUS: Swap to Optimism to get $OP rewards.
EXTRA BONUS: Swap to/from zkSync Era to position yourself for a potential zkSync airdrop! - Use Stargate route.
Click “View all routes” and select the Stargate route. We recommend using Stargate as it is part of the LayerZero ecosystem (and may also do a potential airdrop of their own!). So using the Stargate route may also position you for the Stargate and LayerZero airdrops too!
Check out our Stargate Finance ($STG) airdrop guide and LayerZero ($ZRO) Token Airdrop Guide - Confirm the transaction.
Click “Review route”, check that the details are correct, and click “Bridge”.
- Perform cross chain swaps on Matcha
Matcha has recently partnered with Socket to revolutionize trading with cross chain swaps. By being able to perform cross chain swaps, users will no longer have to navigate through multiple platforms, making trading more efficient!
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: Socket has not announced any airdrop yet. But there may a be a good chance of an airdrop when LayerZero, its direct competitor, is getting a lot of attention as a result of confirming that they will be doing a token airdrop.
Airdropped Token Allocation: The airdropped token allocation is unknown.
Airdrop Difficulty: There is no announcement on any Socket airdrop or their eligibility yet. However, to position yourself for this potential airdrop, all that is required is to do some token swaps on Bungee. This is not difficult to do. It will also make you eligible for other airdrops too, such as Bungee and even LayerZero!
Token Utility: There has been no official announcement regarding the release of any Socket token yet.
Token Lockup: There has been no official announcement regarding the release of any Socket token yet.
