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How Do Crypto Airdrops Work? Explore Upcoming Airdrops

By ChangeNOW | ChangeNOW Crypto Blog | 28 May 2024


Crypto airdrops are like a treasure hunt in the cryptocurrency world, where projects shower their community with free tokens to boost awareness, spark adoption, and reward their loyal followers. These giveaways can vary, from simple tasks to just holding tokens in your wallet. Here's a dive into how airdrops work and what's on the horizon for 2024.

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Types of Airdrops

- Standard Airdrop. Picture this as a surprise party for your wallet—just for signing up, no strings attached.
- Bounty Airdrop. Here, you’ve got to earn your keep by completing tasks like following social media channels, retweeting posts, or joining Telegram groups.
- Holder Airdrop. Already holding certain cryptocurrencies? You might find extra tokens magically appear in your wallet—like finding a forgotten stash of cash!
- Exclusive Airdrop. Reserved for the loyal fans who’ve been there since the beginning. Early bird gets the token!

Purpose of Airdrops in Crypto

- Increase Awareness
Airdrops spread the word about new projects like wildfire.
- Boost Adoption
They entice users to try out the platform or protocol.
- Reward Loyalty
Early supporters get a thank-you note—in the form of crypto!

How Do Airdrops Work?

1. Announcement
The project announces the airdrop through their official channels (website, social media, forums). It’s the buzz that starts the frenzy!
2. Eligibility Criteria
The project outlines what you need to do to be eligible—like holding a specific token, completing tasks, or simply registering with a wallet address.
3. Snapshot
For holder airdrops, a snapshot of the blockchain is taken at a specific block height or date to capture eligible addresses.
4. Distribution
Tokens are distributed to the eligible addresses either automatically or through a claim process on the project's website.
5. Claiming Process
Sometimes, users need to claim their airdropped tokens by connecting their wallets to a specific website and following instructions.

Notable Upcoming Airdrops of 2024

1. LayerZero (ZRO) Airdrop

The LayerZero (ZRO) airdrop is creating quite a buzz in the crypto hive. Slated for 2024, this airdrop marks a significant milestone for the LayerZero protocol, which focuses on cross-chain interoperability.

LayerZero Labs took their first snapshot on May 1, 2024, capturing user interactions with the LayerZero ecosystem. This snapshot is key to the upcoming token distribution.

To be eligible, users need to have been busy bees in the LayerZero ecosystem, using applications like Stargate Finance, bridging funds via the official Aptos Bridge, and engaging with the LayerZero Testnet Bridge. Active participation, like providing liquidity, staking, and taking part in governance, can boost your chances of scoring a hefty airdrop.

LayerZero Labs is keen on fair play and has measures to prevent Sybil attacks, where folks use multiple wallets to unfairly increase their rewards.

2. zkSync Airdrop

zkSync is a major player in Layer 2 scaling for Ethereum, using zero-knowledge proofs for speedy and cost-efficient transactions. zkSync aims to cut gas fees and turbocharge transaction speeds on Ethereum.

To qualify for the zkSync airdrop, users should dive into the zkSync network by bridging assets, trading, and engaging with zkSync-based apps. While details on the distribution are still under wraps, the airdrop is expected around June 13, according to The Block.

3. ZKX Airdrop

ZKX is a perpetual trading protocol on StarkNet, a Layer 2 scaling solution for Ethereum. The protocol aims to democratize access to global yields and offer a self-custodial and community-governed trading platform.

Since launching in 2022, ZKX has gained traction, securing $4.5 million during its seed funding round, with backing from big names like StarkWare, Amber Group, and Huobi.

ZKX has revealed the date and criteria for their next airdrop on their website. They’ve set aside 15% of their token supply for community airdrops. It’s raining tokens!

Ethena Airdrop for ChangeNOW PRO Users

An exciting treasure hunt is live on ChangeNOW's Twitter: the Ethena token airdrop! This event offers participants a chance to snag free Ethena tokens by following simple instructions shared on ChangeNOW’s Twitter. Don’t miss out on this golden opportunity to expand your crypto collection! Head over to ChangeNOW’s Twitter to join in and stay updated on this exclusive airdrop!

Get Free $ENA

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ChangeNOW

ChangeNOW is a non-custodial service created for simple and fast cryptocurrency exchanges. We strive for maximum safety, simplicity, and convenience. We do not store your funds or require any sort of account creation. https://changenow.io/


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