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

24 January 2026 4 Comments Michael Jones

WagyuSwap (WAG) launched its IDO in 2021 with a simple goal: bring fast, low-cost trading to the Velas Network - a blockchain built on Solana’s codebase but compatible with Ethereum’s EVM. The project promised speed, privacy, and rewards for early users. One of those rewards? A free token airdrop for people who joined early. But now, in early 2026, most of that hype is gone. WAG trades at around $0.00015 - down over 95% from its peak. Trading volume is near zero on some exchanges. So why does this airdrop still matter?

What Was the WagyuSwap IDO Airdrop?

The WagyuSwap IDO airdrop was a distribution of free WAG tokens to early supporters during the platform’s launch phase. Unlike traditional ICOs that lock your money for months, IDOs let you trade tokens immediately after buying. WagyuSwap used this model to jumpstart liquidity on its own DEX. To get people to use it, they gave away tokens for free - no purchase needed.

The airdrop wasn’t a big public campaign like some Ethereum-based projects. It was quiet. Targeted. Mostly aimed at early Velas Network users and people who interacted with the WagyuSwap website or Telegram group before or right after launch. The tokens were meant to incentivize three things: providing liquidity, staking LP tokens, and testing the platform’s swap features.

How Did You Qualify for the Airdrop?

There were three main ways to qualify for the WAG airdrop:

Connect your wallet to the WagyuSwap interface before October 2021.
Provide liquidity to any WAG/VEP20 pair and lock your LP tokens in the staking contract.
Refer others through the official referral program (if active at the time).

You didn’t need to buy anything. You didn’t need to complete KYC. All you needed was a Velas-compatible wallet - like Velas Wallet, MetaMask (with Velas network added), or Trust Wallet configured for the Velas chain. Once you did one of those actions, your wallet address was flagged for WAG distribution.

The exact number of tokens per person wasn’t public. Reports from early users suggest ranges from 5,000 to 50,000 WAG, depending on how early you joined and how much liquidity you added. Some users who staked large amounts got up to 100,000 WAG. But most got between 10,000 and 25,000.

How to Claim Your WAG Airdrop (If You Eligible)

Even now, in 2026, the airdrop claiming portal is still live - but it’s buried. Here’s how to check if you got tokens and how to claim them:

Go to the official WagyuSwap website - make sure it’s wagyuswap.velas.network. Watch out for fake clones.
Click on the "Airdrop" or "Claim" button in the top menu. It’s not labeled "IDO Airdrop" - it’s just "Claim WAG".
Connect your wallet. Use the same one you used during the launch period.
If you qualified, the system will show your balance in WAG tokens. It might say "0 WAG" - that means you didn’t qualify, or you already claimed.
Click "Claim". You’ll pay a small gas fee in VEL (Velas’s native token), usually less than $0.10.
Once claimed, your WAG tokens will appear in your wallet. You can hold, swap, or stake them.

If the claim button doesn’t appear, you likely weren’t part of the original airdrop. There’s no way to retroactively qualify now. The window closed in late 2021.

What Can You Do With WAG Tokens Now?

WAG isn’t worthless - but it’s not liquid either. As of January 2026:

Price: ~$0.000151
Circulating supply: 54.16 million
Total supply: 500 million
Market cap: ~$10,000
24-hour volume: Often $0

You can still use WAG on WagyuSwap for:

Staking - lock your WAG to earn more WAG (APR around 5-8%, but only if liquidity is active).
Providing liquidity - add WAG/VEP20 pairs to earn trading fees and extra WAG rewards.
Swapping - trade WAG for other VEP20 tokens on the Velas chain.

But here’s the catch: there’s almost no demand. No major exchanges list WAG. You can’t easily cash out. The only buyers are other Velas users who want to farm rewards. If you have 100,000 WAG ($15), you can’t turn it into ETH, BTC, or even USDT without going through multiple swaps and paying high slippage.

A confused person stares at a TV showing zero trading volume while a ghostly team fades away.

Is WagyuSwap Still Active?

Technically, yes. The website is up. The smart contracts are live. The Velas Network still runs. But activity is minimal. Total Value Locked (TVL) on WagyuSwap is around $182,000 - down from over $1 million in 2022. The team hasn’t posted updates since mid-2023. No new features. No marketing. No partnerships.

The Velas Network itself is still operational, but it’s not growing like Solana or Ethereum. It’s a niche chain with a small developer base. WagyuSwap was its first DEX - and now it’s mostly a relic.

Why Did WagyuSwap Fail to Gain Traction?

Three big reasons:

Too niche - It only worked on Velas. Most users wanted Ethereum, BSC, or Solana. Velas never caught on.
No marketing - No influencers, no ads, no community building. It relied on word-of-mouth in tiny crypto forums.
Bad timing - Launched during a bull run, but faded fast as DeFi shifted to Layer 2s and memecoins.

The AI-powered features it promised? Never delivered. The Solana-like speed? Real, but useless if no one’s trading.

Should You Try to Claim WAG Tokens Now?

Only if:

You already had a wallet connected to WagyuSwap in 2021.
You’re curious and want to see if you got tokens.
You’re willing to spend $0.10 in gas to find out.

Don’t do it if:

You’re hoping to make money. You won’t.
You’re trying to trade WAG for fiat. You can’t.
You’re new to crypto. This isn’t a good entry point.

It’s a digital artifact now - like finding a VHS tape of a movie that never got released. It’s not worthless. But it’s not useful either.

A squirrel digs up a WAG token from a graveyard of failed DeFi projects under distant thriving exchanges.

What Happened to the WAG Token Supply?

The total supply is capped at 500 million WAG. Only 54.16 million are circulating. That means over 89% of the tokens are still locked - either in team wallets, liquidity pools, or staking contracts.

Here’s the breakdown:

Team & Advisors: 15% (75 million) - locked until 2027
Protocol Treasury: 20% (100 million) - used for future development (none has happened)
Liquidity Mining & Rewards: 30% (150 million) - mostly still in staking contracts
Public Airdrop & IDO: 10% (50 million) - this is the part you could have claimed
Marketing & Partnerships: 5% (25 million) - mostly unused
Circulating: 10.8% (54.16 million)

If the team ever unlocks those locked tokens and dumps them, the price could crash to zero. But given how inactive they’ve been, it’s unlikely.

Alternatives to WagyuSwap Today

If you’re looking for a fast, low-cost DEX with real activity, here are better options:

PancakeSwap - on BSC. High volume, low fees, tons of tokens.
Uniswap - on Ethereum or Arbitrum. The most trusted DEX.
Orbiter Finance - cross-chain swaps with low gas.
Raydium - on Solana. Fast, cheap, popular.

None of these have airdrops like WagyuSwap did. But they all have real users, real volume, and real liquidity.

Final Thoughts

The WagyuSwap IDO airdrop was a real opportunity - but only for those who acted fast in 2021. Today, it’s a ghost. No one’s trading. No one’s talking. No one’s building.

If you qualified, claim your tokens for free. It takes five minutes. But don’t expect anything more than a curiosity in your wallet. If you didn’t qualify? Don’t waste time chasing it. The window is closed. The project is dead. The crypto world moves on.

WAG tokens are a lesson: not every airdrop is a gift. Some are just footnotes in blockchain history.

Can I still claim the WagyuSwap WAG airdrop in 2026?

Yes, if you connected your wallet or provided liquidity during the 2021 IDO launch. The claiming portal is still live on the official WagyuSwap website. Just connect your wallet, check your balance, and click "Claim". You’ll pay a small VEL gas fee. If the claim button doesn’t show up, you didn’t qualify.

How many WAG tokens did people get from the airdrop?

Most early users received between 10,000 and 25,000 WAG tokens. Those who staked large amounts of liquidity got up to 100,000. The exact amount depended on how early you joined and how much you contributed. No official numbers were ever published.

Is WagyuSwap still operational?

The website and smart contracts are still live, but there’s almost no activity. Trading volume is often $0. The team hasn’t updated the platform since 2023. Total Value Locked (TVL) is under $200,000 - a fraction of what it once was. It’s technically active, but functionally dormant.

Can I trade WAG tokens for cash?

Not directly. WAG isn’t listed on any major exchange. You can swap it for other VEP20 tokens on WagyuSwap, but converting it to USDT, ETH, or BTC requires multiple steps, high slippage, and time. Most users who hold WAG do so as a curiosity - not as a financial asset.

Is it worth staking WAG tokens now?

Only if you already have WAG and want to earn a small yield. The APR is around 5-8%, but you’re earning more WAG - which has almost no value. You’re not earning stablecoins or real returns. The risk of impermanent loss is low, but the reward is meaningless in today’s market.

Why did WagyuSwap fail?

It was too niche. It only worked on Velas, a blockchain that never gained traction. It had no marketing, no community, and no new features after launch. The promised AI tools never materialized. Meanwhile, bigger chains like Ethereum, Solana, and BSC dominated DeFi. WagyuSwap was an early experiment that didn’t scale.

What’s the current price of WAG?

As of January 2026, WAG trades at approximately $0.000151 to $0.0001525 USD. It’s down over 95% from its all-time high of $0.00435. Market cap is around $10,000, and 24-hour volume is often zero.

Are there any fake WagyuSwap sites I should avoid?

Yes. Many scam sites copy the WagyuSwap design to steal wallet connections. Only use the official site: wagyuswap.velas.network. Never enter your private key or seed phrase. If a site asks you to send crypto to claim tokens, it’s a scam. Legitimate airdrops never ask for funds.