Evolution of Tokens Distributed in Airdrops

BounceBit (BB): Initially distributed through the Binance Megadrop platform, BB tokens were allocated based on user participation in Locked Products and Web3 Missions. The evolution of these tokens can be followed as they are listed on Binance and other exchanges, reflecting their integration into the broader market.

Uniswap (UNI): Following its airdrop, UNI saw significant market adoption and appreciation. Early airdrop recipients benefited as UNI gained value and utility within the DeFi space, highlighting the potential long-term benefits of participating in airdrops.

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Types of airdrops on Binance

Standard Airdrop:

Example: BounceBit (BB): This was the first project launched on Binance's Megadrop platform. Users subscribed to BNB Locked Products and completed Web3 missions to earn BB tokens prior to their listing on Binance (Captain Altcoin).

Reward airdrop:

Example: Projects typically distribute tokens to users who complete promotional activities, such as sharing posts on social media or joining specific groups. This type aims to raise awareness and engage the community​ (Binance Academy)​.

Exclusive airdrop:

Example: Uniswap (UNI): In 2020, Uniswap rewarded every wallet that had interacted with its protocol with 400 UNI tokens. This was a way to reward early adopters and active community members (Binance Academy).

Headline airdrop:

Example: PIXEL: Binance supported the airdrop of PIXEL tokens to users of locked Ronin (RON) products. The distribution was based on the amount of RON held on a specific date (BeInCrypto).

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Raffle Airdrop
Example: Giveaway of rare NFTs to holders of a specific token.

Step by Step:
--Own the Required Token: Make sure you have the necessary token or NFT in your wallet to qualify for the giveaway.
--Sweepstakes Registration: Register for the draw on the Binance platform or on the associated project website.
--Wait for the Draw: Wait for the draw date, where winners will be selected at random.
--Receipt of the NFT: If you are a winner, the NFT will be automatically sent to your registered wallet.

Holder Airdrop
Example: Airdrop for BNB (Binance Coin) holders.

Step by Step:
--Hold Token: Buy and hold BNB in ​​your Binance wallet during the announced snapshot period.
--Wait for the Airdrop: You do not need to take any additional action; Tokens will be automatically distributed to eligible holders after the snapshot.
--Verification: Check your Binance wallet to see the tokens received.

GENERAL CONSIDERATIONS
Security: Always verify the authenticity of the airdrop and never share your private keys or seed phrases.
Research: Learn well about the project and the conditions of the airdrop.
Updates: Stay up to date with announcements and updates on official Binance channels and social media.
For more information on airdrops and detailed guides, you can visit the Binance Blog and the Binance Airdrop Portal

Examples and Step-by-Step Guide to Participate in Different Types of Airdrops on Binance

Standard Airdrop
Example: Binance Launchpool airdrop for a new token.

Step by Step:

Binance Registration: Create a Binance account or log in if you already have one.
Launchpool Access: Navigate to the Binance Launchpool section on the Binance website.
Participation: Select the available airdrop project and participate by locking your cryptocurrencies in the specified pool.
Receiving Tokens: Once the airdrop period is over, you will receive the tokens directly to your Binance wallet.

Bounty Airdrop
Example: Airdrop of tokens for sharing posts on social networks.

Step by Step:

Finding the Airdrop: Follow Binance social media and blog for bounty airdrop announcements.
Complete Tasks: Follow the instructions provided, such as sharing a post, tagging friends, or joining a Telegram group.
Participation Registration: Complete the participation form with your wallet address and proof of completed tasks.
Verification and Reception: Once the tasks are verified, the tokens will be sent to your wallet.

Exclusive Airdrop
Example: Exclusive airdrop for attendees of a Binance event.

Step by Step:

Event Participation: Register and attend events organized by Binance.
Receiving the Code: During the event, a unique code will be distributed to claim the airdrop.
Claim the NFT: Enter the code on the Binance platform according to the instructions provided during the event.
Verification and Reception: Once the code is verified, you will receive the NFT in your wallet.

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On Binance, there are several types of airdrops that users can take advantage of, each with specific characteristics:

Standard Airdrop: Allows anyone who registers their wallet to receive the distributed NFT. However, there is generally a limited period and quantity of NFTs available.

Bounty Airdrop: Reward users for completing specific tasks, such as sharing a post on social media. These tasks can add users to a whitelist or airdrop raffle.

Exclusive Airdrop: Distribute NFTs to people who participate in events, complete tasks, or take advantage of unique opportunities. This type is more exclusive compared to bounty airdrops.

Raffle Airdrop: Used for rare or limited NFTs, it selects random winners from a pool of wallets or NFT owners who have been pre-selected.

Holder Airdrop: Send NFTs to wallets that own a specific NFT or cryptocurrency. The number of tokens held can determine the number of NFTs received​ (Binance)​​ (Binance)​.

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On the other hand, some recent airdrops on Binance have been less profitable:

Arkham (ARKM): Generated returns of up to 16 times its initial price at its peak.

Open Campus (EDU): Reached a peak of 33 times its initial price.

League of Kingdoms (LOKA): Earned returns of up to 34 times its initial price​ (CoinGecko)​.

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Remember is to live again

The most profitable airdrops in the history of Binance and other platforms have generated significant profits for their participants:

Uniswap (UNI): In 2020, Uniswap distributed its UNI token to early users, reaching a peak value of $6.43 billion when its price surpassed $85​ (Binance)​.

ApeCoin (APE): In 2022, APE tokens were distributed to holders of Bored Ape Yacht Club NFTs, reaching a maximum value of $3.54 billion​ (Binance)​.

dYdX (DYDX): The dYdX trading platform distributed DYDX tokens in 2020, which were worth $2.00 billion at their peak​ (Binance)​.

Arbitrum (ARB): In 2023, the Arbitrum network launched its ARB airdrop, reaching a peak value of $1.97 billion​ (Binance)​.

StepN (GMT): This Binance Launchpad project achieved returns of 411 times its initial price​ (CoinGecko)​.

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4. Identification of "pump and dump" schemes:
Method: Analyze the token's price history and look for suspicious behavior patterns, such as sudden spikes followed by rapid declines.
Example: Use market analysis tools such as TradingView to monitor the evolution of the token price. If you see a sharp rise without solid fundamentals, it is likely a pump and dump scheme.

5. Thorough project research:
Method: Thoroughly research the team behind the project, its roadmap, and its community. Participate in forums and discussion groups to obtain opinions and experiences from other users.
Example: Before joining an airdrop, check the team members' LinkedIn profile, read the project white paper, and check out reviews on specialized sites like Reddit or Bitcointalk.

6. Token utility evaluation:
Method: Make sure the token has a clear purpose and practical application within the project ecosystem. Be wary of projects that only promise high returns without a solid business plan.
Example: Analyze whether the token has real use cases, such as being used for payments within a platform, governance of a protocol, or access to exclusive services. If the token lacks utility, its value is likely artificially inflated.

Conclusion
To prevent airdrop fraud and scams, it is essential to be diligent and cautious. Verifying the authenticity of airdrops, protecting your personal data, thoroughly researching projects, and being skeptical of exaggerated promises are key steps to maintaining your security in the ecosystem.

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Examples of how to prevent airdrop fraud and scams

1. Prevent inappropriate data disclosure and Identity verification of airdrops:
Verify the authenticity of the project using trusted sources such as official websites, verified social media accounts, and community forums.
Example: Before providing your data in an airdrop, check that the website has a valid SSL certificate and is listed on recognized platforms such as CoinMarketCap or CoinGecko.

2. Protection against phishing and spoofing:
Never enter your private keys or personal data on websites of dubious origin.
Use password managers and enable two-factor authentication (2FA) whenever possible.
Example: If you receive an email requesting your information to participate in an airdrop, verify the sender address and cross-check the information with the project's official sources.

3. Mitigation of dust attacks:
Method: Do not interact with unknown tokens sent to your wallet. Use wallets with advanced privacy features and regularly monitor your transactions.
Example: If you receive a small amount of tokens in your wallet without requesting them, avoid transferring or interacting with them. Set up alerts on your wallet to identify suspicious transactions.
Prevent fraud related to price volatility

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Security recommendations

To protect yourself, it is essential to thoroughly research projects before participating in an airdrop. Although there are many opportunities, being in a cryptocurrency bull market does not guarantee that any token will be "the opportunity of a lifetime." Properly informing yourself about the project is crucial, as the cost of participating without due diligence can be significantly high.

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What precautions should I take when interacting with airdrops?

These traps mainly fall into two categories: those that involve the inappropriate disclosure of personal data and those related to market volatility, which serves interests outside the true support of the project.

Scams related to data disclosure

These types of scams can come in different forms, such as spoofing, phishing, and dust attacks.

1. Spoofing and Phishing: These practices involve the creation of fake airdrop profiles with the sole purpose of collecting data from interested users. This data can then be used inappropriately or even to violate the privacy of connected wallets.

2. Dust attacks: These consist of sending small amounts of tokens to wallets. These tokens function as a “Greek gift,” later used to track the activities of the receiving wallet.

Scams related to price volatility

1. "pump and dump." In simplified terms, tokens are distributed via airdrop, high interest in the project is generated, and once interested parties buy and artificially inflate token prices, organizers sell their tokens, make a profit, and exit. This scheme has no relation to the real incentive for people to participate in a project, but is a mere price manipulation and liquidation operation.

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