Hey, long time no see! Hope you all survived this small crypto-winter! Hopefully this isn’t a final tether pump before the collapse, but a good sign for the coming months.
Anyway, it’s time to get back to business after my burnout from crypto. Have some weird ideas and interesting projects coming up
Today, we are looking at Airdrops, the easiest way to make money in crypto. We’ll focus on the two different types of airdrops, proper DAO-type drops and giveaways/bounties, with some tips to recognize possible future events and some do & don’ts to avoid losing your time and getting scammed.
Without further ado, let’s get started
What’s an airdrop? It’s the distribution of free coins to users from a company, without any payment upfront. It’s usually done to either create some hype and expand the reach of a project (this is often call a bounty/giveaway rather than a airdop) or to make a project a fully functional DAO (decentralized autonomous organization), thus changing the legal status of the project itself, and (possibly) taking away power from the founding group behind the project while empowering the new holders, that have a say in the direction of the project through a governance token and staking it on various proposals (the traditional way you’ll vote in defi).
TOKEN ALLOCATION & AMOUNT
In the case of bounties, you’ll usually deal with a certain amount of tasks, usually media-related, to further the social awareness and reach of the project. The amount given is already known from the beginning , and the timeframe too.
On the other hand, serious airdrops usually are pretty rare and feel light catching a lighting in a bottle, and are truly rich in rewards. You could end up receiving a flat amount of tokens or a percentage related to your support and staking in the early phase of the project. The main idea is to empower those who helped out and provided liquidity at the very beginning, entrusting resources to an unknown token or dex.
Remember that timestamps are a thing, and they are usually taken without saying the exact date they’ll happen, in order to avoid fake liquidity and insincere(and time-bound) investments in the project.
Famous airdrops like UNISWAP, FORTH, and the recent SHAPESHIFT/FOX DAO (btw check it out) did exactly that , showing how investing in decentralization is still rich of opportunities for those willing to believe in a new system
DO & DON'TS
Let’s get to some nice ways to maximize your gains, both from giveaways and DAOs
- Use various news aggregators to receive new information on airdrops and fast access to them. More often than not, many giveaways and bounties have a faucet approach, with a first-come, first-serve system, alongside a limited number of “winners”.
Here a short list
https://dappradar.com/hub/airdrops
- While some projects might ask you to use telegram to subscribe to their media channels, airdrops FROM telegram only rarely pay off. Nothing dangerous, just a waste of time.
- In case of giveaways, always check holders and liquidity, through a scan (eg BSC/ETHERSCAN). A limited amount of adressesses or low liquidity are a red flag, and you should avoid them.
- Check how old the social media handles accounts are, and if they are solely focused on getting attention and engagement, rather than explaining the project and attracting proper non-retail investors
- See if the project has a whitepaper and a doxxed team, along with a roadmap and a proper use-case.
- DAOs usually happen to projects willing to develop a proper DEX with native projects (eg sUSD on Kwenta). Good trading and staking volumes are also a healthy sign of a possible move towards a decentralized organization. Foundations or other groups won’t go full DAO unless there is a solid economical incentive to do it. At the end of the day, they still need to keep operations going.
- CMC and its airdrops and earn system might be worth a shot, but the entire thing feels finicky and random at best. Wouldn’t invest much time on it
- A big name with a possible airdrop coming up might be SYNTHETIX (SNX) following the move to L2 OPTIMISM. It’s still early on, but you might want to prepare your metamask and move some SNX on Layer 2.
- Remember, never pay for an Airdrop (they do ask something like that sometimes)and always check the contract. Stay Safe!
Hope I helped you out!
Anyway, Thanks for the attention and see you soon!
If you wanna help out, check
- BULKSENDER, great for sending various eth transactions together, saving some time and gas (ngl, it’s pretty high lately)
https://bulksender.app?referrer=0xC53d8683Ed3d15E105f76Ff181eE44f881c2E056
- OPENSEA, the premiere nft marketplace on ETH. As NFTs are regaining traction in the cryptosphere, you might want to grab something and see it appreciate further
https://opensea.io?ref=0xc53d8683ed3d15e105f76ff181ee44f881c2e056
- BLOCKSTER, a Q3/Q4 up-and-coming crypto social media. They are still airdropping tokens, so get in while it lasts. If the bullrun resumes, it could lead to some nice gains
https://blockster.com/about-us/?kid=1KZBZ3
If you wanna go the extra mile and throw some tokens you don’t need, feel free to send them here:
