- LFG airdropped tokens to Ethereum users who spent over $4,269 in gas fees to entice them to try Solana due to its lower fees
- The LFG token price spiked then crashed 80% from its peak despite over 50,000 Ethereum wallets claiming the airdrop
- LFG plans more airdrops targeting Ethereum developers to incentivize building on Solana instead of Ethereum
Ethereum’s high gas fees have led some users to look to rival chains like Solana. A new Solana-based project called Less Fn Gas (LFG) recently capitalized on this by airdropping tokens to Ethereum users who spent over $4,269 in gas fees over the past year.
The LFG Token Airdrop
The airdrop of LFG tokens to Ethereum users was a strategy to entice Ethereum supporters to try out Solana. By getting Ethereum users to claim the airdrop, the goal was to show them that Solana transaction fees are much lower than Ethereum gas fees.
Over 50,000 Ethereum wallets claimed the LFG tokens within the first 24 hours. The airdrop also led to increased volume on the Wormhole bridge between Ethereum and Solana. However, the hype quickly faded and the token’s price crashed around 80% from its peak.
Plans for Future Airdrops
Despite the token’s price decline, the LFG team plans additional airdrops. The next will have lower requirements, needing only $1,000 in gas fees spent to be eligible. Tokens will also be airdropped to Solana developers, liquidity providers, and users of major Solana protocols.
Attracting Ethereum Developers
A big focus for LFG is attracting Ethereum developers to build on Solana instead. Part of the next airdrop will target Ethereum developers who have deployed smart contracts. LFG also plans a decentralized grants program to pay Ethereum developers in LFG tokens to build Solana projects.
Conclusion
The LFG token has already fallen significantly from its starting hype. However, with future airdrops planned and a goal of migrating Ethereum developers to Solana, the project could still gain adoption going forward. The high cost of Ethereum gas continues to make rival chains appealing.
