Airdrops refer to the disbursement of cryptocurrency tokens, either free of cost or as a reward for certain activities done on the platform. It is an important part of blockchain-based projects in their ICO stage, helping expand their user base and promote their services. Tokens or Coins are delivered directly into the user wallet of active members of the community.
Airdrop programs are often initiated to incentivize prior users and expand the network. Initially, the process and pre-requisites are detailed following which a public campaign is put to motion, wherein customer data is collected. Smart contracts are used to aid the expedition of giveaways through the company’s treasury wallet.
Airdrops fall into different categories based on the purpose they serve and the time at which they are shared.
Interested entrants simply need to make their interest known and provide necessary information to receive their airdrop tokens in their wallet.
Bounty airdrops are rewards for certain actions performed on the platform like promotional activities or referral rewards.
Given as benefits to pre-existing investorsin the cryptocurrency, holder airdrops are rewarded on the basis of the volume and duration of holding.
Exclusive airdrops are distributed specifically amongst people who have made contributions to the project, not necessarily in form of investments.
When the number of interested participants exceeds the number of planned airdrops, the company selects wallets to receive airdrops via a raffle.
Recently, SENSO and TopGoal had remarkable airdrop programs with 384,498 SENSO and 10,000 NFT airdrops respectively; both projects seeing about 90,000 participants.
Opensea and MetaMask are rumored have much-anticipated airdrops lined up for 2022.
Some of the biggest airdrops have been by Decred with 258000 DCR distributed, BitcoinCash with a airdrop value of $4300 per BCH. Stellar ranks high in the list with their ongoing registration and has airdropped $125,000,000 XLM tokens so far.
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