TL;DR
Airdrops are usually given out by projects in a bid to compensate early supporters and as a means of marketing. Most times they are free, other times they cost.
WAX Blockchain ($WAXP ) is a leading blockchain for web3 gaming and NFT projects. This means lots of projects would be looking to own their tokens and some drops.
The majority of projects are looking to leverage WAX's unique features and understanding the ecosystem is key to being positioned.
Based on research, 95% of web3 projects always find a way to reward active users (Source: Trust me bro). The goal is to know which to put your energy in and avoid futility.
Overview: WAX Blockchain 🧧
WAX is the acronym for Worldwide Asset eXchange, a blockchain platform designed for the creation, sale, and trading of digital assets. There are tons of Decentralized Applications (dAPPS) built on the WAX Blockchain, all leveraging on WAX's unique features:
High Speed and Low Transaction Fees: WAX utilizes Delegated Proof of Stake (DPoS) consensus, enabling thousands of transactions per second with minimal fees. This is crucial for smooth gameplay and fast NFT trading. (Compared to Ethereum's high gas fees, WAX offers a significant advantage for users.)
User-Friendly Experience: WAX prioritizes user experience with features like Cloud Wallet, eliminating the complexity of managing private keys. This makes WAX accessible to beginners unfamiliar with traditional crypto wallets.
Focus on Virtual Goods: WAX caters specifically to the virtual goods market, supporting the creation, trading, and ownership of in-game items, digital collectibles, and other virtual assets. (This focus provides a more specialized and potentially more efficient ecosystem compared to general-purpose blockchains.)
The Concept of Airdrops
Airdrops are essentially cryptocurrency giveaways distributed to specific user wallets. Projects use them to raise awareness, incentivize early adopters, and jumpstart their ecosystem.
A quick search on X (formerly Twitter) or Google with the keyword "airdrop", will show you a list of ongoing and past campaigns. The truth is that some airdrops pay more than others:
$NOT Coin - Recent airdrop from TON ecosystem, which gave drops to over 35Million users via Telegram 2024
$BONK - Solana-based airdrop for supporters 2023.
WUF - WAX Blockchain recent airdrop for early contributors and participants, 2024 (not on Binance yet though, soon).
How To Get Free WAX Airdrops
There are tons of strategies available, but we will take a look at the basics. Once you understand why airdrops are given, you have unlocked about 50% of the secrets/requirements.
1. Actively Participate in the WAX Ecosystem:
Engage with WAX dApps (decentralized applications): Use WAX-based games, marketplaces, or other applications. Regular interaction shows your commitment to the network.
Hold WAXP Tokens: Owning the native token (WAXP) demonstrates your investment in the WAX platform. Wuffi token airdrop was given based on the amount users were holding in their WAX wallets (Cloud wallet - a decentralized wallet).
Follow WAX Social Media: Stay updated on announcements and potential airdrops by following WAX on Twitter, Medium, Telegram, Discord, or their official blog. Project creators often announce airdrops through these channels.
WAX on X
2. Participate in WAX-related Activities:
Early Access Programs: Some projects offer airdrops to users who participate in early access programs or beta testing.
Content Creation Contests: Projects hold contests for creating content like memes, videos, articles, referrals or more to promote their project. Winners receive airdrops as rewards.
Community Engagement: Be active in WAX communities (forums, Telegram groups, Discord servers). Valuable contributions or helping others might get noticed and potentially rewarded with airdrops.
3. Research Upcoming WAX Projects:
Look for projects in development on the WAX Blockchain. Their websites or social media channels might mention potential airdrop plans.
Consider signing up for waitlists, mailing lists, or following them closely for airdrop announcements.
Learn From WUFFI (WUF) Token Airdrop
The WUFFI ( WUF ) meme coin is the first multichain meme coin project on the WAX Blockchain and the airdrop was very unique:
WAXP holders according to tiers - holding from 1,000 to 10,000 tokens.
NFT holders - The top 20 collections was used in airdropping users. You just need to be an nft collector.
Bountyblok Quest - Complete social quests and get ranked to earn drops.
Currently, WUF is looking to expand in utilities paving way for been more than just a meme coin - Play to earn perks.
Summary
By following these tips and staying informed, you can position yourself well for potential airdrops on the WAX Blockchain. Remember, there's no magic formula, but active participation and engagement can increase your chances.
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References
See WAX official X handle (with Blue tick and large following),
Website via Binance ( WAXP ), CoinMarketCap, CoinGecko
Disclaimer
Beware of Scams: There are always scams associated with airdrops. Never send your private keys or pay any fees to claim an airdrop. Legitimate airdrops will be free to claim.
Do Your Own Research (DYOR): Before interacting with any new project, research their legitimacy and tokenomics. Don't invest based solely on the hope of an airdrop.
Airdrops are Not Guaranteed: While these strategies can increase your chances, there's no guarantee you'll receive airdrops. Focus on genuine engagement with the WAX ecosystem and projects you believe in.