⚠️What is cryptocurrency airdrop ?
🟢A cryptocurrency airdrop is a marketing strategy that involves sending coins or tokens to wallet addresses. Small amounts of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in return for a small service, such as retweeting a post sent by the company issuing the currency. The ultimate goal of a crypto airdrop is to promote awareness and circulation of a new token or coin
⚠️How do they work ?
🟢The crypto airdrop process begins by the project or company deciding the need for an airdrop. This may be in response to market strategies, a hard fork in the network, or to incentivize existing investors. The initial step is to select how the airdrop will be facilitated and who is eligible. The next step for broad, general airdrops is to launch the public campaign. This includes collecting information for interested parties; this is often limited to just wallet addresses, though companies may also gather e-mail addresses to grow their contact list.Other types of airdrops may rely on a snapshot, a capture of an instance that identifies who possesses certain criteria. Any transactions occurring after the snapshot will not impact the results of the airdrop; therefore, coin or token prices often experience volatility in response to when snapshots are taken. Once the list of airdrop recipients is selected, the airdrop is facilitated often through the use of smart contracts. The company may choose to use their Treasury wallet to facilitate the airdrop, and the company often publicizes the transaction block to demonstrate the equitability of the airdrop. The transaction will show the airdrop leaving the company's wallet and distributing to the recipients.
Airdrop recipients often directly receive the coins or tokens without having to accept the tokens. Some may need to add the token or coin along with its address to their wallet to appropriately view their wallet balance of the token.