Cryptocurrency Airdrops
Cryptocurrency airdrops are a marketing strategy that involves distributing free coins or tokens to users' wallets. This is usually done to attract attention to the project and attract new users.
How Cryptocurrency Airdrops Work
Cryptocurrency airdrops vary in their structure and requirements, but in general, the process is as follows:
1. Participation: The project announces the airdrop process and sets eligibility criteria for participation. This often requires users to complete certain tasks, such as subscribing to the project newsletter
2. Snapshot images: On a specific date, the project takes a “snapshot” of all portfolios that meet the eligibility criteria. This ensures that these users receive the dropped coins.
3. Distribution: After the photo date, the dropped coins are distributed to eligible wallets. Coins are usually sent directly to the users wallet.
Some notable examples of cryptocurrency airdrops include:
* Uniswap (UNI) token dropped in 2020, with 400 million UNI distributed to early Uniswap users.
* 1inch (1INCH) coin dropped in 2020, with 6 billion 1INCH coins distributed to 1inch DEX users.
* Binance Smart Chain Coin (BSC) dropped in 2021, with 100 million BNB distributed to Binance Smart Chain users.
