It appears that the decentralized exchange (DEX) CowSwap, which was developed on top of the Gnosis V2 Protocol, plans to airdrop its token. This news came after the decentralized exchange had an updated Github repository showing a new code for a token drop. Upon further inspection, the code includes text such as “cannot be claimed after deadline” and “emits token generation event.”
The Gnosis Protocol V2 protects users from MEV using batch auctions. Not only that, but this protocol also combines the various liquidity sources across the different decentralized exchanges.
Speaking of, CowSwap is the decentralized exchange of the Gnosis Protocol V2. It uses a system known as the “Coincidence of Wants.” For instance, if one user has an asset that another user wants and vice versa, CowSwap will automatically match those users and help them settle a trade without needing an automated market maker.
We’re unsure if CowSwap has already revealed the airdrop eligibility, but some users continue to interact with the protocol hoping they’ll be qualified for the airdrop.
April 2021 saw the launch of CowSwap, which was the same day when Gnosis and Balancer announced their partnership. Crypto Briefing listed CowSwap in a recent article, noting that the decentralized exchange is a potential contender for token airdrops this year.
Over the past couple of days, various airdrops from different platforms have already occurred. On Christmas Eve, OpenDAO sent an unexpected Christmas gift to OpenSea users in the form of SOS tokens. Similarly, Gas DAO also had a token airdrop to 643,000 Ethereum network users.
Unfortunately, Gas DAO’s token has since dropped 70% from its recent all-time high, while SOS tokens aren’t doing any better. This appears to be a common trend among the significant token airdrops last year, as even the principal Ethereum token airdrops decreased by 50% from their ATHs.