Definition | Airdrop – Giveaway – Free Crypto

in L’universe of the cryptocurrencythe term “airdrop” refers to the free distribution of a token. Different units of a cryptocurrency are sent to hundreds or thousands purses (wallets).

Why such a free distribution? Usually, the operation aims to make a particular token better known, to generate buzz about it. In fact, the stronger the interest in a cryptocurrency, the more its price can rise. More people are likely to be interested in it and therefore, this young currency is more likely to be listed on a major exchange like Coinbase or Binance. The airdrop can therefore be compared to a promotional campaign: given the fierce competition between start-ups in the field, an airdrop can help draw attention to a certain token.

To participate in an airdrop, you must first have a wallet such as MetaMask or Trust Wallet, or even the wallet specific to a particular currency. Usually it is necessary for this wallet to have a minimum of tokens of the respective currency.

Sometimes one or more actions are requested from the person who wants to take advantage of the airdrop: register on the Tweeter of the currency, retweet a message…

airdrop stories

Let’s take a look at a few airdrops that have been around since this concept came into existence and we’ll get a better idea of ​​what kind of exercise this is.

AuroraCoin

The very first airdrop took place on March 25, 2014. Iceland had launched AuroraCoin (AUR) with the aim of making it a national cryptocurrency. Every citizen or resident of the country who submitted their ID number received 31.8 AUR. In total, 21 million AURs have been distributed, or 50% of all tokens put into circulation. In July 2022, one AuroraCoin was worth almost $1.50.

bitcoin cash

In 2017, two of the big supporters of the BitcoinRoger Ver and Gavin Andresen have lent their support to a major evolution of Bitcoin, Bitcoin Cash (BCH). Transaction management appeared to have slowed down significantly. BCH proposed to solve this situation by significantly increasing the size of the blocks – eight times larger than the blocks of the blockchain bitcoin. Though controversial, BCH was born and a huge airdrop was staged for the occasion: any Bitcoin owner who chose to support Bitcoin Cash received in their wallet as much BCH as they had BTC (Bitcoin). At that time, BCH was about 1/10. worthe of BTC and therefore this airdrop had a major impact on them. Even today, BCH is in the Top 30 cryptocurrencies and its value is equal to 0.005 BTC.

Uniswap

In 2020, the decentralized exchange platform Uniswap wanted to thank those who trusted it since its launch in November 2018. Nearly 250,000 active Uniswap members received 400 UNI, the equivalent of over $1,500 per person.

Appearance

On June 16, 2021, LooksRare, a marketplace, offered a high-profile airdrop: anyone who had transacted for a total of at least 3 ETH (Ethereum) secure the NFT platform OpenSea, and those offered for sale a NFT on LooksRare, was eligible for thousands of LOOK tokens. Admittedly, this token had only minor importance: it stood at 230e of the cryptocurrency in July 2022. At the same time, the value was still equal to 0.3 dollars, which is not entirely negligible.

El Salvador

at thethe autumn 2021, to encourage the adoption of Bitcoin by the people of El Salvador, the government of this country credited anyone who installed the associated wallet with a value of approximately $30 in 2021 BTC.

OpenDao December 23, 2021

In December 2021, OpenSea users were rewarded: they could claim SOS tokens in proportion to the activity they had had on OpenSea. More than 120,000 purses have benefited from it.

Types of air droplets

As we have seen in the examples above, there are different types of airdrop. The main ones are as follows.

  • Airdrop standard – without counterpart

With this type of airdrop, tokens are handed out for free without asking any compensation from the user. As in the case of AuroraCoin, all you need is a wallet to take advantage of it. Similarly, when Dapper Labs launched the CryptoPunksthese were originally offered for free.

A time factor can be attached to the airdrop: the offer is valid for a certain number of days or until stock is exhausted. volume tokens offered. Sometimes a lottery is also linked to such a benefit.

  • Airdrop as a reward

This type of airdrop seems most commendable: as in the case of Uniswap or OpenDAO, it aims to thank those who have supported a particular project by distributing free tokens. Thus, a platform or a currency expresses its gratitude to those who kindly supported it in its origin.

  • Airdrop dependent on task execution

In this type of airdrop, tokens are awarded to those who agree to perform a certain number of specific tasks. For example :

  • subscribe to the cryptocurrency Tweeter account;
  • share or retweet a tweet;
  • post a post praising the merits of this currency on any social network or forum;
  • create an account on the cryptocurrency platform;
  • subscribe to a newsletter;
  • make a transaction, even a small one, to the cryptocurrency platform or wallet…

In English we speak of premium to designate such an airdrop.

Does participating in an airdrop involve any risks?

At first glance, airdrops only seem to be good. Yet this practice has aroused suspicion over the years.

First of all, airdrops depending on the execution of a certain number of actions are generally a waste of time. Sometimes you have to spend a good ten minutes or more to register on the account Twitter or the forum disagreement of a currency, posting or passing on tweets, posting blog posts and also keeping proof of all these actions to eventually receive a few tokens of a currency whose value is minimal.

Sometimes it happens that the airdrop asks to send small amounts of an established currency (Bitcoin, Ethereum, etc.) to an address that will be filled as well. However, the one who performed the corresponding operation can disappear overnight, after pocketing his winnings.

It also happens that users receive a lot of free tokens of a new currency, which increases the rating because it can claim a large number of users. However, once that currency has reached a certain threshold, the initiator of the transaction sells its assets, making nice profits as the currency in question collapses – this practice is commonly called ” rug sweater (pulling carpet).

Where do you find air droplets?

There are several airdrop sites, including: airdropalert.com, airdrops.io Where airdropbob.com. Some of them may notify you of new opportunities by email.

In addition, when you are an active user of certain blockchains, it is possible that the associated platform will inform you about the upcoming airdrop from time to time.

To avoid risky airdrops, it’s best to research the currency in question, even if it means consulting specialized forums on Reddit or Discord and getting information from other users.

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