AirdropFi

AirdropFi is a new way of making airdrops.

Normally protocols airdrop tokens to the users, who usually sell them and dump the token, which is bad for the protocol.

What if you could instead airdrop a DeFi position in your protocol to keep users involved and active? This is exactly what AirdropsFi does.

Specifically, AirdropFi works through links. Protocols can generate links/QR codes which allow to activate a sponsored DeFi position. Users just have to go to the link, click a button and suddenly will have a position opened. This keeps them motivated to stick around and use the protocol.

When creating an airdrop protocols can choose different ways to enhance it:

• can lock the position for a specific time so that users are not able to just sell it instantly.
• can require users to have a World ID in order to claim the airdrop: this ensures that only humans can claim it (e.g. if you share links in a Discord you don't want bots) and that someone cannot claim more than one position (if he gets access to multiple links).
• can require users to meet some on-chain requirements of previous interaction with the protocol. E.g. have already created positions on the protocol in the past. This is made possible by Axiom which allows to generate a ZK proof for proving on-chain history.

AirdropFi can be used for rewarding existing users or to onboard new ones. Imagine having a "welcome gift" (it probably happened to you to receive initial free credits when onboarding on a new app like Revolut. This can achieve the same but with DeFi.). Or imagine a protocol goes to a conference and gives QR codes to people to allow them to claim a position and become involved in the protocol.

AirdropFi is built in a modular way. This means that it can work with any DeFi protocol. For the scope of the hackathon I built a module for a "lend position on SparkLend".

When the protocol creates an airdrop it will deposit funds on the AirdropFi contract and associate a randomly generated password to each available position, which will be stored hashed in the contract. Then it will generate some links that contain the password, only who has the link will be able to activate the associated position.

When the user activates the position the funds will be moved from the AirdropFi contract to the DeFi protocol (e.g. SparkLend). The AirdropFi contract will be the owner of the position but the user will receive an NFT that allows him to control the position (withdraw it when the lock period expires).