Pudgy Penguins and Hyperliquid lead 2025 airdrop rankings by Binance
Top rated airdrops of 2025
Binance Research has released an in-depth analysis of the state of crypto airdrops in 2025, highlighting past failures, missed opportunities, and offering potential solutions to build a more sustainable and effective token distribution model.
Airdrops have become a widely used marketing strategy for crypto projects, aimed at building community engagement and attracting capital. While some distributions have successfully boosted user loyalty, others have faced backlash due to poor allocation, Sybil attacks, and mismatched expectations.
According to the report, simple token handouts to early users have evolved into more complex models. Airdrops are now largely divided into two types: retroactive (rewarding users based on past activity without prior notice) and interactive (requiring users to complete tasks like testnet participation, liquidity provision, or governance voting to qualify for rewards). Despite their benefits, both approaches have encountered growing criticism in recent years.
Top rated airdrops of 2025
Binance gave the highest score (10/10) to the Pudgy Penguins airdrop, followed by Hyperliquid (9/10), while Berachain, ZKsync, and Grass each received 8/10. Other projects received lower marks due to a range of issues.
Best airdrops according to Binance
Key challenges in 2025 airdrops
1. Sybil farming on the rise
As airdrop incentives grew, bots and multi-wallet strategies began to dominate, often excluding real users from fair rewards. Projects like Scroll (Oct 2024) failed to detect large-scale Sybil farming, leading to outsized allocations to a few users and widespread frustration.
2. Unclear eligibility criteria
Many projects failed to clearly define qualification rules. The Redstone (March 2025) airdrop, for example, changed distribution plans at the last minute—cutting the community’s share from 9.5% to 5%—which sparked accusations of insider favoritism.
3. Excessive insider allocations
Disproportionate token distribution to insiders and early investors continues to raise concerns. The KAITO (Feb 2025) airdrop allocated over 40% of supply to insiders, resulting in an immediate token dump and community backlash.
4. Technical friction and complicated claims
Some projects introduce unnecessary technical barriers. During the Magic Eden (Dec 2024) airdrop, users were forced to install a new wallet with reported security issues, reducing participation and generating negative feedback.
How to improve future airdrops
Smarter distribution models
Combine loyalty-based rewards, proof-of-personhood, and value-based performance metrics rather than relying solely on transaction volume or time-based metrics.
Community involvement in design
Allow community input on eligibility criteria or governance votes to shape distribution rules and build trust.
Enhanced monitoring and anti-farming tools
Use on-chain analytics, wallet behavior tracking, and Sybil detection frameworks (e.g., Nansen partnerships) to ensure fairer distribution.
Align airdrops with long-term growth
Use vesting schedules, staking multipliers, and participation-based unlocks to keep recipients engaged over time.
What’s next for airdrops?
Binance Research concludes that while airdrops aren’t going away, their future impact depends on smarter execution. The next wave of airdrops may include:
- AI-powered eligibility scoring to prevent manipulation
- Hybrid on-chain/off-chain reputation systems
- Deeper DeFi integrations to reward long-term holders
The report ends by urging projects to remain adaptive and transparent, learning from 2025’s mistakes to ensure airdrops continue to be valuable tools—not just fleeting marketing gimmicks.
