In recent years, the world of cryptocurrency has seen numerous new concepts and practices emerge, and one such concept is the token airdrop. If you’re new to the crypto world, you may have heard the term “airdrop” being thrown around, but may not be entirely sure what it means. In simple terms, a token airdrop is a marketing strategy used by cryptocurrency projects to distribute free tokens to their community or potential users. This strategy has been used to build buzz around a particular project, increase adoption, and reward existing users. In the year 2023, as some of the big names like Arbitrum decided to launch its native token with a token airdrop event, more entrants started using this strategy to attract users (to know more about the ARB airdrop event, refer to the blog). In this blog, we’ll take a deeper look at token airdrops, how they work, and how you can take advantage of these events to stay one step ahead of the game.
Token Airdrop as an incentivizing and marketing method for community
As discussed earlier, token airdrops have become a popular way for cryptocurrency projects to incentivize their community and attract new users. By distributing free tokens to holders or potential users, these projects can create hype and build engagement around their platform.
One of the main benefits of using a token airdrop as an incentivizing method is that it can help to increase the visibility and awareness of the project. When a project distributes free tokens to its users, it creates a buzz around the platform, and users are likely to talk about it on social media, forums, and other online platforms. This can help to increase the number of people who know about the project and potentially attract new users.
The recent ARB token airdrop announcement was able to attract so much attention that the topic was discussed amongst the Twitter community leading to the project being among the trending topics. According to the article by Coindesk, at the time of writing, ARB was the sixth-most trending Twitter topic in the United States with more than 10,000 tweets.
Going back to the year 2020, Uniswap which is the largest decentralized exchange currently in the market with a TVL of $3.77 Bn even launched their native token airdrop program which caused a huge impact on the market and hence was able to capture a big userbase.
Additionally, a token airdrop can help to incentivize existing users to hold onto their tokens and even buy more. When users receive free tokens, they are more likely to hold onto them and wait for their value to increase. This can help to create a strong community of dedicated users who are invested in the success of the project.
One of the key benefits of airdrops as an incentivization method is that they are accessible to anyone with a compatible wallet address. Unlike mining or staking, which require technical knowledge or specialized equipment, airdrops are a simple and easy way for users to get involved in a project.
Airdrops can also be used to incentivize specific actions that benefit the project. For example, a project might offer airdrops to users who hold a certain amount of tokens, or who participate in governance or other decision-making processes. This can help to promote decentralization and community involvement in the project.
Another benefit of airdrops as an incentivization method is that they can be a cost-effective way for projects to distribute their tokens. Unlike other distribution methods, like ICOs or private sales, airdrops don’t require projects to spend significant amounts of money on marketing or advertising. Instead, the tokens are distributed directly to users who are already interested in the project.
Upcoming Token Airdrops
After the successful airdrop event of ARB tokens, the users need to up their game and take advantage of the upcoming events to stay ahead of other crypto enthusiasts.
$SEI token airdrop (Date not released yet)
Sei Network is a layer-1 blockchain built with Cosmos SDK. It aims to become the preferred chain for decentralized exchanges (DEXs) in DeFi, NFTs, and GameFi. Sei Network is planning to launch its $SEI token after its mainnet launch in the coming months. They have also confirmed that 1% of its total supply will be allocated to airdrops.
The best way to receive a potential $SEI airdrop is to interact with their Seinami Incentivized Testnet by completing their tasks. There are 2 ways in which you can participate in the airdrop event –
- Complete Acts 2-3 of the Seinami Testnet missions. These Acts however do require technical knowledge.
- You can also participate by completing Act 4 of the Seinami Testnet missions. It involves placing orders and getting liquidated on Vortex. Also community tasks such as referring friends to sign up for Sei and for them to refer others.
Scroll is a fully EVM-Equivalent zk-Rollup built to scale the Ethereum network. If you are unfamiliar with the concept of zk-evm, refer to this blog. Scroll relies on zkEVM as its primary component to demonstrate the native EVM execution trail, and it employs a decentralised proving network to address the issue of prover efficiency.
When it comes to the native token, although it doesn’t currently have one, Scroll may do so in the future. It is quite likely that they will introduce their own token given that they have collected a total of $80M in financing from some of the major VCs, including Polychain and Sequoia. If they issue their coin, early users who have performed testnet acts may receive an airdrop.
Steps to participate in the airdrop
- Visit the Scroll testnet page.
- Add L1 testnet and L2 testnet to Metamask.
- Visit the faucet section and get testnet tokens on Goerli.
- Now visit the bridge section and send tokens from and to Scroll L1 Testnet and Scroll L2 Testnet.
- Early users who’ve done testnet actions may get an airdrop if they launch an own token.
NOTE: Please note that there is no guarantee that they will do an airdrop and that they will launch their token. It’s only speculation.
Sui Blockchain (Unconfirmed)
Sui is a decentralised proof-of-stake blockchain with storage and throughput that can be scaled horizontally. Sui promises to be a step-function development in blockchain technology that will let designers and programmers build experiences for web3 consumers.
The $SUI token is the native token of the platform. SUI has a max supply of 10 billion tokens. SUI token will have 4 main purposes: Gas fees, staking, governance, and as an underlying asset of the Sui economy.
Although there is no confirmation regarding the dates of the airdrop event, some ways in which people can act right now to take advantage of these events are –
- Install and use the Sui Wallet
- Request SUI devnet tokens
- Stake and earn Sui
- Mint Sui Capys NFT
- Register your domain on Sui Name Service (SuiNS)
- Participate in Sui testnet waves
- Play games and get NFT test mint on Clutchy
- Interact with protocols in the Sui ecosystem
NOTE: There has been no official announcement regarding the airdrop event of Sui.
Golstar Finance (Ending on April 30, 2023)
Goldstar Finance is a community-built Algorithmic & Web3 solution for Crypto-Trading. GoldStar Finance uses an automated and algorithmic model similar to Pancakeswap to ensure returns and achieve low slippage.GoldStar Finance is offering a Selfdrop of 25,000,000 $GST tokens (~$ 250,000). In addition, participants can earn BNB and GST commissions by referring friends.
Steps Involved –
- Head to the GoldStar Finance Selfdrop page.
- Connect your Metamask wallet & Switch to the BSC network.
- Click on “Claim Airdrop”. A Gas fee will apply in $BNB.
- You will receive 1,500 $GST tokens (~$ 15).
Mera Metaverse (Ending on June 1, 2023)
MERA is an open-world exploration Metaverse based on Unreal Engine 5 and blockchain technology, in which players can join different tribes, buy and sell MERA-Land NFTs based on smart contracts and discover precious resources. $MERA token will be the in-game currency that will be needed to get access to the MERA LAND SALE.
Steps involved to earn a free $MERA token
- Follow @MERAtoken on Twitter.
- Like + RT + Comment on this Tweet.
- Join MERA on Discord to get a free Airdrop whitelist spot.
In conclusion, token airdrops are a popular way for blockchain projects to distribute free tokens to their community members. Airdrops help to increase the project’s visibility, attract new users, and reward loyal supporters. They have gained even more attention in recent times, especially after the successful Arbitrum airdrop, which generated a lot of buzz in the blockchain community.
We have listed some of the most notable airdrops in our blog, and it is exciting to see more projects coming forward with their own airdrop events. As blockchain technology continues to gain mainstream adoption, we expect to see more innovative ways to distribute tokens and engage with the community. So keep an eye out for upcoming airdrops and make sure to participate to get your hands on some free tokens.