Hey Everyone,

Over the last couple of months, I’ve put some real focus in to farming airdrops. An airdrop is a marketing activity that a project team undertakes to get engagement with their project. As a reward for engaging with the project, you receive an airdrop in the form of the projects tokens. This could be a new blockchain, a new Layer 2 blockchain, a new protocol that deploys in a blockchains ecosystem (Defi, Liquid Staking etc) or just a meme coin.

Farming airdrops can be time consuming as there’s lots of opportunities, but they can extremely lucrative. In some instances, we are talking $1,000’s per airdrop particularly where the project is well funded or well hyped. Airdrops can take weeks, months or even years to materialise but the risk involved to take part is usually low. It requires you to have a small amount of capital ($100–$150) to interact with the project but the actual cost is usually limited to the gas fees to interact with the project.

Each project requires a different level of interaction, this is something that is decided by the project team. Some airdrops are equal for all participants and some are based on the amount you interact with the project.

You may need to interact with a projects 100+ times over a 6 month period to qualify and being consistent with everything else going on in life can be challenging unless you can really commit the time to it. Some airdrop farmers use multiple wallets so they can claim multiple times.

So, how can you take advantage of airdrops with a minimal amount of effort?

Enter LootBot…… LootBot is a Telegram bot that interacts with blockchains and protocols on your behalf so you don’t have to do it manually. You can setup multiple wallets in seconds, across multiple chains that will interact with protocols defined by the LootBot team. Once you have the wallets setup, you can fund those wallets, hit start and the bot will do the rest.

The LootBot team are constantly creating new schedules and implementing new chains and protocols. The speed at which they are developing this product is insane. Below is a screenshot showing the protocols that LootBot is already leveraging.

Now you will be thinking, what does it cost?

LootBot is free(ish). When I say free(ish), what do I mean? Well, LootBot has a Freemium & Premium tier. Freemium doesn’t require any upfront cost so it’s a great place to get started to build confidence in the project. The downside of Freemium is that the you only receive 80% of the airdrop. 20% of the airdrop is paid back to $LOOT holders as a revenue share.

If you choose to go Premium, this will allow you to keep 100% of the airdrop by paying $30 per wallet, per chain, per month. If you want to run the bot using 3 different chains (Solana, zksync, Scroll, Base etc), with 3 wallets each, that will set you back $270 per month.

You can reduce this by buying and staking $LOOT. You need 1000 $LOOT per wallet per chain. $LOOT is currently worth $0.52. Taking the above example, you would need 9000 $LOOT to reduce the subscription cost to $135 per month.

There are other differences between Freemium and Premium. I’ve included a screenshot below for comparison.

I personally use Freemium at the time of writing this article. I have 3 wallets funded on Solana and 2 wallets funded on ZKSync. I’ve recently received my first airdrop of $300 of $WEN (-20% for Freemium).

Now we also need to talk about funding the wallets. For Ethereum based wallets, you need a minimum of 0.065 ETH ($150) to cover transactions and gas fees and 2 SOL ($200) for Solana wallets. If your total balance falls below that, you will need to add additional funds. You can transfer your assets out at any time.

What are the risks of using these services?

First of all, the team has access to the wallets private keys. They need this to take the 20% cut for Freemium. This means the team could, in theory, transfer out assets from those wallets and disappear. I’d suggest only using money you can afford to lose & take profits to cover your original investment early. I’ve been around the community for little while, I’ve seen the way the team operate, they have investors and I’d like to say this has given me some confidence that this is unlikely but that’s just my opinion.

Secondly, if you don’t follow the instructions and some basic principals, then your wallet could be identified as a sybil wallet which teams typically exclude from airdrops. A sibil wallet is a wallet created by someone primarily for the purpose of farming airdrops, typically across multiple wallets to take advantage of airdrops. In basic terms, we are creating sibil wallets using this method but we don’t want to be detected.

So, how can we go about not being detected?

1. Transfer funds in to your LootBot wallets from a CEX like Binance, MEXC, KuCoin, Coinbase, Bybit, WooX, OKx, Bitget, Crypto.com, Kraken, Gemini.
2. Don’t transfer assets between your LootBot wallets
3. Transfer any airdrops back to a CEX. Try and use different CEXs per wallet where possible
4. Don’t share your LootBot wallet addresses anywhere.

No one wants to find out after weeks of waiting for an airdrop that they are ineligible.

Other LootBot opportunities

There’s also other options to make money here without the need to participate in airdrop farming. By purchasing and staking $LOOT, you can earn a revenue share of the airdrops farmed from Freemium and from the subscription fees of Premium. I’m not personally a $LOOT holder (yet) but given the current direction, I will likely be in the future!

I’d like to try this bot out! Where can I get started?

You can sign up using this Telegram link: https://t.me/lootbot_lootbot?start=yalma7

It is a referral link as you need an invite code to sign up. You cannot sign up without one. If you use the link above, you will get 10% off Premium if you decide to jump up to the Premium tier at any point.

You can find instructions how to use the bot here: https://docs.lootbot.xyz/lootbot/overview/start

I’ll also be doing some video tutorials on YouTube in the coming weeks. If you’re interested in that, you can subscribe here so you don’t miss it!

And, before you get started, remember do your own research. This isn’t financial advice, I share this content primarily to document my journey and provide my opinion or view. I only share content on projects that I am involved in that I believe have potential. I’m not always right and any money you invest you do at your own risk!