What is a crypto airdrop?
Airdrop is a marketing technique by which a blockchain promotes itself and proceeds to distribute its token for free to certain users or members of its community. Most of the time, it is about rewards following the accomplishment of a certain number of tasks. This method allows the project to gain notoriety on social networks thanks to its reward system.
How do crypto airdrops work?
In general, to access a crypto airdrop, different tasks must be performed depending on the project. The tasks to be performed are not always clearly defined. Most of the time, it will be to promote a project, either by sharing it on a social network or by following it.
One of the tasks is often to interact with the blockchain’s test network. Since this is a network under development, it will be a matter of users of the blockchain testing and testing its limits.
This will allow the developers of the protocol to discover, correct and prevent network flaws. This will greatly improve the security and efficiency of the blockchain.
This is a marketing strategy that works well in the cryptocurrency ecosystem. Thanks to the reward system, projects usually buzz on social networks. This way, the project quickly gains visibility, especially if it comes with a strong added value.
Crypto airdrops are also a good means of communication, which, in addition to having low costs, gives good results.
It is therefore possible to classify crypto airdrops into 3 categories :
- airdrops open to the general public: no constraints and no distinction
- airdrops intended for users or community members who have accomplished certain tasks
- pre-established airdrops specifically reserved
How to participate in a crypto airdrop? Eligibility criteria
Typically, the team of an ongoing project does not disclose the eligibility criteria to its cryptocurrency airdrops. The goal is to create a community that is truly interested in the project.
The team responsible for the project thus ensures the development of a community free of airdrops “farmers“. It is therefore preferable to do an analysis of the project in order to identify the eligibility criteria.
If your target project is about a blockchain, it would be appropriate to interact with the decentralized exchanges of the network. Within the framework of a testnet, you may have to request a large number of tokens without financial value in order to carry out various transactions, without any risk.
On the other hand, the airdrop (real tokens) that you will receive in return for your tests on the network will have a real financial value. You can use it as you wish.
In the context of a protocol project, interaction with as many tools and features as possible would make you eligible for airdrop. Users will very often see a path to completion highlighted more than others. Which will lead to rewards.
Following a project on more than one platform or social network is useful to be informed. It is always a good idea to keep up to date with the project, thus giving yourself a chance to be selected.
In sum, because project eligibility requirements are rarely defined, it is important to conduct extensive research.
The successful airdrops that the crypto market has experienced
The crypto market has been marked in the past by airdrops that reached impressive thresholds. Rewards for interacting with a protocol or blockchain before the token is available.
Among the aidrops that have generously allocated rewards (real tokens) to their communities are :
- the Aptos blockchain
- the decentralized Uniswap protocol
- the crypto trading platform DyDx
With the Aptos blockchain, to qualify for the rewards, users had to interact with its testnet to test its robustness and reliability.
After 4 years of work, the users have received their rewards, ranging from 150 to 300 $APT tokens. This depended on their level of involvement in the project. This was then an average of $1,000 to $1,500, 24 hours after the token was listed.
In September 2020, meanwhile, the Uniswap protocol awarded an airdrop of 400 tokens to each of its users. At the time of its launch, the uni token was worth $3. That’s about $1,200 in rewards to each of its users.
The most patient ones were able to resell their tokens at a superb price, since it reached a value of more than 40 dollars.
The cryptocurrency trading platform dydx makes the most impressive airdrops. In August 2021, the platform generously distributed some pretty nice rewards to its users.
Tokens distributed ranged from 310 to 9,529 for users who traded more than $1 million over a defined period. At launch, the token was worth over $11.
Crypto airdrops to follow in 2023
The last few years have been fruitful for digital currency enthusiasts in terms of airdrops. This involves early adopters of a blockchain or protocol receiving governance tokens to test or publicize projects.
Although there are no guarantees, the projects that could surprise us in 2023 are :
- Dash 2 Trade
Calvaria (RIA) : Duels of Eternity, $100,000 in rewards
It is a card game declined in two versions for the first quarter of 2023. A play to earn version with NFTs and cryptos to win, and a free to play version. You can enjoy and accumulate your first RIA.
In parallel, the project team is organizing a $100,000 giveaway. Those who will benefit from it will be drawn among the users who have completed the tasks. They will receive $70,000, $20,000 and $10,000 respectively.
SaTT (SATT): an airdrop of 1,000 STT available
Users of the platform could be entitled to 100,000,000 SATT if they complete the tasks that will consist of publicizing the project. These tasks would amount to boosting the awareness of the blockchain on social networks (Telegram, Twitter, etc.).
Binance and the Auto Invest 2.0 service
Binance, the famous exchange platform launched in November 2022 its service: Auto Invest 2.0. A feature that allows you to make investments of fixed amounts on fixed dates.
The platform then offers a bonus of 10 BUSD to users who try the service for the very first time. So it makes sense to have an account to benefit from a Binance airdrop.
Airdrop crypto review : is there a real added value ?
Cryptocurrency airdrops mostly represent financial opportunities. In addition to being worth only a few interactions on the blockchain, they require no investment, thus a definite return.
There are a multitude of airdrops that come into existence, but it is nevertheless advisable to be careful about offers that are a little too beautiful.
The profits to be made on crypto airdrops depend on the projects. These allow those who are new to trading to get started with minimal risk of loss. Tokens can be worth a few dollars, hundreds or even thousands of dollars.
Sometimes the tokens have very little financial value or the project has been a failure. The tasks can also be tedious and time consuming.
Crypto airdrops represent opportunities to receive free tokens. This is in return for the completion of certain tasks. Nevertheless, it is advisable to be careful not to fall into scams and think about securing your wallet.