It appears that CowSwap, a Gnosis DEX, will be launching an airdrop for its token.
A Github repository surrounding a token drop has sparked a flurry CowSwap participation.
While airdrops create a lot of excitement, it seems the excitement often precedes severe drops in price.
Share this article
CowSwap, a decentralized exchange built on top of the Gnosis V2 Protocol, seems like it might be preparing an airdrop for its token.
A Gnosis decentralized exchange called CowSwap appears likely to launch a token airdrop, having updated a Github repository showing code for a token drop. It includes statements like “emits token generation event” and “cannot be claimed after deadline.”
The Gnosis Protocol V2 uses batch auctions to help protect users from MEV, a scenario in which miners or arbitrageurs extract value from users by reordering, adding, or even censoring transactions. The Gnosis Protocol V2 also integrates liquidity sources across various decentralized exchanges.
CowSwap is the Gnosis V2 Protocol’s first decentralized exchange. Among other things, it utilizes a mechanism called the “Coincidence of Wants”—if one user holds an asset that another user wants and that user owns an asset the first user wants, then CowSwap will match these two users and directly settle the trade without using an automated market maker.
It is unclear if the snapshot determining airdrop eligibility for the CowSwap token has already take place, though some have still interacted with the CowSwap protocol today in the hopes of qualifying for the airdrop.
CowSwap’s alpha was launched in April on the same day that a major partnership between Gnosis and Balancer, an Ethereum ( $1,233.71 ) automated market maker, was announced. Crypto Briefing highlighted CowSwap as a potential contender in its recent article detailing 10 promising candidates for token airdrops in 2022.
Several airdrops have taken place over the last few days. On Christmas Eve, OpenDAO airdropped its SOS token to OpenSea users. Earlier today, Gas DAO launched a token airdrop to 643,000 Ethereum ( $1,233.71 ) network participants. However, that token is already down roughly 70% from its all-time high, and the SOS token has done nearly as poorly. This is a common trend for major airdrops this year, as all of the major Ethereum ( $1,233.71 ) token airdrops of 2021 are down at least 50% from their highs.
Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Every Major Ethereum ( $1,233.71 ) Token Airdropped in 2021 Is Down Over 50%
Ethereum ( $1,233.71 ) saw several big token airdrops in 2021. Despite the initial hype surrounding the most anticipated airdrops of the year, most of the tokens are down 50% or more. Ethereum ( $1,233.71 ) …
What is a Crypto Airdrop: Why Projects Airdrop Crypto
Crypto airdrops occur when new tokens are freely distributed to different wallets in order to drive initial growth and build a community. They represent a popular marketing tactic that new projects use to spread…
2021 in Review: the Top 10 Crypto Moments of the Year
From meme coins to the Metaverse, join Crypto Briefing as we look back on the top 10 moments that defined the crypto space this year. 2021 in Crypto A lot…
NFT Traders Wanted an OpenSea Airdrop. Then OpenDAO Launched on Christ…
Following an overnight surge, OpenDAO’s market cap is at roughly $295 million. SOS Airdrop Calms NFT Community’s OpenSea Woes Christmas just keeps getting better for the NFT community. A new…