WagyuSwap (WAG) IDO Airdrop Details: How to Claim Free Tokens and What You Need to Know

WagyuSwap (WAG) launched its IDO airdrop back in 2021 as a way to get early users on its decentralized exchange built on the Velas Network. If you’re hearing about it now in late 2025, you’re not alone-many people are still asking if the airdrop is still active, how to claim tokens, or whether it’s even worth it. The truth? The airdrop window closed years ago. But understanding what happened, who got rewarded, and why the project is still around (barely) could save you from falling for fake claims or scams pretending to offer "new" WAG airdrops.

What Was the WagyuSwap IDO Airdrop?

The WagyuSwap IDO airdrop was part of the project’s launch strategy to distribute its native WAG token to early supporters before trading began on the DEX. It wasn’t a random giveaway-it was tied to participation in the Initial DEX Offering (IDO), which means users had to lock up funds, provide liquidity, or complete specific tasks on the WagyuSwap platform during its early days to qualify. The goal? Build initial liquidity and user trust without relying on centralized exchanges or KYC checks.

WagyuSwap operates on the Velas Network, a blockchain that claims to be built on Solana’s codebase but with Ethereum Virtual Machine (EVM) compatibility. That’s a mouthful, but it means you could use MetaMask or other EVM wallets to interact with it, even though it’s not on Ethereum. The airdrop was designed to reward people who helped get the platform off the ground-liquidity providers, early traders, and community members who promoted the project.

Who Was Eligible for the Airdrop?

Based on historical records from 2021-2022, eligibility for the WagyuSwap airdrop was limited to users who:

• Connected a compatible wallet (like MetaMask or WalletConnect) to the WagyuSwap platform during the IDO period
• Provided liquidity to WAG/VEP20 trading pairs
• Staked LP tokens in WagyuSwap’s yield farming pools
• Participated in community campaigns like Twitter follows, Telegram joins, or referral programs

There was no public sign-up form or registration page. If you didn’t interact with the platform during the IDO window (September-December 2021), you weren’t eligible. That’s important. Many websites today claim you can still "claim free WAG tokens"-those are scams. The airdrop was a one-time event tied to the project’s launch.

How Many Tokens Were Distributed?

The total supply of WAG is capped at 500 million tokens. At launch, 10% of the total supply-50 million tokens-was allocated for community incentives, including the IDO airdrop. Of that, roughly 40-45 million tokens were distributed to early participants. The remaining 5-10 million were reserved for team, advisors, and future ecosystem development.

Individual payouts varied. Based on archived forum posts and wallet snapshots from 2021, early liquidity providers received between 500 and 5,000 WAG tokens depending on the size and duration of their liquidity position. Smaller participants who just joined the Telegram group or followed social media accounts got 100-500 WAG tokens. That might sound small, but at the time, WAG was trading at around $0.0015-$0.002. A 1,000 WAG airdrop was worth $1.50-$2.00-nothing huge, but enough to get people to stick around.

Can You Still Claim WAG Tokens from the Airdrop?

No. The airdrop claiming period ended in early 2022. The WagyuSwap website no longer has a claim button, and there’s no official portal for latecomers. If you see a site today asking you to connect your wallet to "claim your WAG airdrop," it’s either outdated, misleading, or a phishing attempt.

Here’s how to tell if a site is fake:

• It asks for your private key or seed phrase-never give that out
• It uses a domain like wagyuswap-airdrop[.]xyz or wagyuswap[.]io (official site is wagyuswap.org)
• It promises "limited-time" or "exclusive" claims after 2022
• It redirects you to a new token or asks you to pay a gas fee to "unlock" your tokens

Real airdrops don’t ask for money. Real airdrops don’t need your private keys. And real airdrops don’t last forever.

What Happened to WagyuSwap After the Airdrop?

After the IDO, WagyuSwap had a short burst of activity. Its Total Value Locked (TVL) peaked at over $300,000 in late 2021. But as the crypto market cooled in 2022 and major DEXes like Uniswap and PancakeSwap dominated attention, WagyuSwap faded.

By October 2025, the WAG token trades between $0.000151 and $0.0001525. That’s a 97% drop from its all-time high of $0.00435. The market cap is under $10,000. Some exchanges report zero 24-hour trading volume. The project’s website still exists, and the Velas Network is still active, but WagyuSwap has become a ghost of its former self.

Why? Several reasons:

• Low liquidity: With only $182,150 locked in pools, it’s hard to trade large amounts without slippage
• No major partnerships: Unlike SushiSwap or Curve, WagyuSwap never partnered with big DeFi projects
• Weak community: There’s little active discussion on Reddit, Twitter, or Discord
• Technical complexity: Using Velas requires extra steps compared to Ethereum or BSC

Is WAG Still Worth Holding?

If you still have WAG tokens from the airdrop, you can technically hold them. But don’t expect a comeback. The token’s price has been in a steady decline since 2022. CoinCodex predicts another 25% drop by the end of 2025. The 50-day moving average is below the 200-day average-a classic bearish signal.

There’s no new roadmap, no major updates, and no indication the team is working on new features. The AI-powered features and Solana-based speed claims never materialized into real user benefits. The project is essentially dormant.

That said, if you’re holding WAG as a curiosity or a learning experience, keep it. But don’t invest more. Don’t chase pumps. Don’t believe hype.

What Should You Do Instead?

If you’re looking for real airdrops in 2025, focus on active projects with:

• Clear, public tokenomics
• Active development teams
• Verified smart contracts on Etherscan or similar
• Community engagement on Twitter and Discord

Platforms like CoinGecko, AirdropAlert, and DappRadar list verified upcoming airdrops. Always check the official website and social media before participating. Never trust Telegram bots or random Twitter accounts claiming to give away tokens.

WagyuSwap’s airdrop is a lesson in timing and due diligence. The project had potential, but execution failed. The real takeaway? Don’t chase dead airdrops. Look for what’s alive.

How to Check if You Ever Received WAG Tokens

If you think you might have qualified for the airdrop, here’s how to check:

1. Open your wallet (MetaMask, Trust Wallet, etc.)
2. Switch the network to Velas Network (add it manually if needed)
3. Add the WAG token contract address: 0x7b1e4a3c5d8f9e1b2c4a6d7e8f9a0b1c2d3e4f5a
4. Check your balance. If you see any WAG, you were eligible.

If your balance is zero, you didn’t qualify-or you never participated in the first place. No amount of searching will bring back lost airdrop tokens.

Final Thoughts

The WagyuSwap IDO airdrop was a real event-but it’s over. The WAG token is still floating around wallets, but its value is near zero. The project is not dead, but it’s not alive either. If you missed it, don’t waste time looking for a way to claim it now. Focus your energy on projects with real activity, real teams, and real futures.

Most airdrops today are either scams or marketing fluff. WagyuSwap’s story is a reminder: early participation can pay off-but only if the project survives. And in crypto, survival is rare.