Ethereum scaling solution AltLayer has become the first of at least three protocols to go live with over $100 million in token airdrops over the coming week. 

The ALT token and the claiming process went live at 9 am UTC on Jan. 25. With an allocation of 300 million tokens to the initial airdrop and an average daily price of $0.32, the total airdrop comes to around $96 million at current prices.

Update: $ALT Airdrop Claims have now opened as of 9:00 AM UTC. https://t.co/LpfHsHu4Gk

Those eligible for AltLayer Airdrop Season One - please visit the official airdrop website to claim your $ALT !

Rest assured you will have one month to claim your $ALT tokens. https://t.co/zSYJw8gGt4

— AltLayer (@alt_layer) January 25, 2024

Celestia stakers looking to get their hands on the ALT airdrop will have to wait a while longer, however, with AltLayer claiming that “technical differences in the claiming mechanism” had delayed the airdrop for Celestia.

AltLayer’s airdrop comes amid several projects also expected to drop their respective tokens to eligible claimants within the next week.

Multilayer rollup deployer Dymension is planning to launch its mainnet sometime in the coming days and is airdropping 70 million DYM tokens, with a distribution weighted heavily toward Celestia stakers and Pudgy Penguin NFT holders but also to Solana and Ethereum ecosystem participants.

The claiming period for Dymension closed on Jan. 21, meaning holders who didn’t claim their airdrop have now missed out.

According to pre-market perpetual being traded on the decentralized exchange Aevo, the DYM airdrop at current prices would be worth an approximate total of $210 million to its recipients.

Airdrop season? Protocols offer $700M in token airdrops over a week image 0

DYM is currently changing hands for roughly $0.31 on pre-market trading. Source: Aevo

Meanwhile, the Solana-based decentralized exchange (DEX) Jupiter, has confirmed that it will launch its JUP token on Jan. 31.

A total of 1 billion tokens are being distributed in the airdrop, and with current JUP perpetuals trading at around $0.41 on the pre-market, the airdrop at current prices will be worth around $410 million.

Bitcoin Ordinals users may also be eligible for a potential airdrop, with pseudonymous Ordinals developer Leonidas announcing the launch of “Runestone,” a decentralized “fairdrop” initiative designed to reward the early users of the Ordinals protocol.

Introducing Runestone

Symbol: ᛤ

Mission: Create a fair, open source, transparent, volunteer, and decentralized initiative to reward people who participated in the first year of the Ordinals Protocol.

Snapshot: Block height 826,600

Discord: https://t.co/jNJbWs2YEp pic.twitter.com/EiIJRSCDOb

— Leonidas (@LeonidasNFT) January 25, 2024

Crypto users hunting for airdrops on X should remain highly cautious, as the platform is currently overrun with scam accounts posing as the official social media pages of crypto firms that have recently announced airdrops. These pages upload near-identical posts pretending to “airdrop claims” websites, typically wallet drainers.