The Airdrop Hunter

By Nams | cryptohowto | 24 Oct 2022


Of course, we are in a bear market. If you are not a trader skilled at shorting coins, what is happening in the market now is either boring and/or depressing. But hang on just a moment…. Have you forgotten that “Crypto never sleeps”? There is always plenty of action to be had in crypto, and a lot of money to be made. The aim of this article is to bring to light some of opportunities available if you are willing to put in the work. The good news is that I did the preliminary donkeywork so you do not have to. This, however, does not mean that you should not do your own research.

The crypto market moves in cycles; there is a time when everything is generally on the upswing, and then there comes a time when the markets cool off and everything is seemingly going to zero. The cycle repeats like clockwork. Yes, we are in crypto winter, but we will not be here forever. So instead of watching the depressing charts everyday and counting your losses, you might want to use this time to strategically position yourself so that you can bravely brace the winter and come out on top when the bull run is finally here.

One way to position yourself is to get in early on good projects, especially those that are building now. The bull run usually attracts a lot of builders who are here to take advantage of the hype and grab some cash under the rug. However, the builders that build in winter are here to stay. So let us have a look at some of the projects that are busy building, and see how you can position yourself to get in early or partake of the potential airdrops that may come when these projects officially launch.

I have deliberately made the information on each project very brief so that it does not take away from your need to do your own research on them. But, I must mention that I have personally interacted with all the protocols I am going to share with you here.

APTOS

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Aptos is a new Layer 1 blockchain built on the Move programming language. The team consists of people who worked on Diem, the blockchain that was being built by Facebook (now Meta). Aptos is heavily backed by prominent Venture Capitalists (VC) such as a16z, FTX and Binance. According to their tokenomics, 51% of the coins will go to community members. That should translate to 510 million coins over a period of 10 years. Already, about 20 million APT coins were airdropped to early network participants. The rest of the “community coins” will most likely be used for incentivizing users of the network such as staking rewards or another airdrop, maybe? Or rewarding early users on the other apps they are building and supporting in the ecosystem. Aptos labs is building a couple of other projects on the Aptos chain such as Aptos Name Service.

Basically, “early network participants” were users who simply tested the network while it was still in testnet or minted an APTOS: ZERO testnet NFT. If you missed out on the airdrop, it’s not too late. Aptos is a new blockchain with many applications coming up in the Aptos ecosystem. Trying out some of these platforms as an early user might just put you in line for upcoming airdrops should there be any. As you scour through the new apps building on Aptos, take precaution. Remember that crypto is still the wild west and every network has some bad people building malicious apps and scam projects.

Sui

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Sui is Aptos’ close contender, both built using the same programming language, both being built by former employees of Facebook (now Meta) who worked on the Diem project, and both being backed by prominent VCs such as a16z, Binance, FTX, Circle, Samsung Next, among others. Sui is another Layer 1 blockchain which is yet to launch on mainnet. To get a piece of the upcoming pie, should there be any, go and check out what Sui is about. Download one of the wallets, join their socials, get some devnet Sui tokens from the faucet to play around the ecosystem, and watch out for announcements such as when they give tasks to mint test NFTs or perform transactions with test Sui tokens. No one knows for sure, but it’s possible that they might do a similar launch to Aptos.

ALEPH ZERO

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Aleph Zero is a peer-reviewed privacy-enhancing blockchain with instant finality. It is a proof-of-stake blockchain built for enterprise, web3 and DeFi use cases. Azero has been in development since 2018. It launched on mainnet in November 2021, and now allows for staking of the native token AZERO. However, smart contracts are currently still in development, with over 1000 smart contracts deployed on the testnet. The team has hinted on rewarding early stakers when smart contracts go live on mainnet, which should not be long from now according to the team announcements.

The Aleph Zero team is also building a multichain bridge and a DEX on the Azero blockchain. So you might want to get in and stake your coins in order to receive any rewards that might be targeted at early users of the blockchain.

Chainhop

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Long story short. This is basically a multichain bridge that allows you to move your tokens across different blockchains. It currently supports Ethereum, BNB Chain, Avalanche, Polygon, arbitrum, Fantom, and Optimism. It is open-source code, audited by SlowMist and Peckshield. It does not have a token yet. Therefore, you might want to try and make a few swaps just in case they airdrop something to early users.

Slingshot

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This is another multichain platform where you can swap your tokens. They have 0% swap fee. You can make swaps across Polygon, Arbitrum, Optimism, BNB chain and Canto. They are currently beta testing Slingshot wallet on mobile; iOS first and then Android later. The team is still building, and they don’t have a token yet. You might want to use their swap feature, just in case something comes up in the near future.

FINALLY….

Just a word of caution as you look around for these new projects: always remember that any person who claims to be from the project that asks you to send some ETH or BTC to a certain wallet in exchange for their token is definitely a scammer. DO NOT SEND YOUR CRYPTO TO STRANGERS ONLINE. It is also NOT advised to use your main wallet where you have your crypto because some of the smart contracts you may interact with may be designed to drain funds or NFTs from your wallet. Create a new wallet that only has enough funds to cover gas fees.

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Nams
Nams

Blogger. Cryptocurrency enthusiast. Economist. Researcher. Cryptocurrency is the future, and the future is now.


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