Another Airdrop Season is around the corner! But what are airdrops anyway? And how do I make sure to be eligible for them?
In this guide, you will learn everything you need to know!
Airdrop season: but what is an airdrop anyway?
So, what is an airdrop anyway? Most crypto projects do not have a native token in the early developing stage. But to make a protocol as decentralized as possible, distributing, e.g., governance tokens is essential.
So far, so good! But how can we ensure that the tokens are distributed as much as possible? Because when just a couple of addresses hold all tokens, the project is pretty much centralized.
This is where airdrops come into play!
Projects distribute their newly launched tokens to the whole community. E.g., in September 2020, Uniswap launched its new governance token: $UNI.
Every user who ever used Uniswap in the past was eligible to claim 400 $UNI tokens. On the first day, these 400 tokens were worth around $1500!
Today 400 $UNI tokens are worth more than $9000! So, users who used Uniswap got rewarded with thousands of dollars for using the platform.
Of course, not every airdrop will be as big as Uniswap’s. Still, there are some opportunities you can take advantage of!
Because the chances for an upcoming airdrop season are very high!
Why are the chances so high for another airdrop season?
Airdrops take place every day in the crypto industry! Yes, every day!
But you probably won’t make much money with most of them. Many airdrops are from small projects with a very small trading volume. So, cashing out some airdrop gains is nearly impossible.
So, you want to be eligible for the next big airdrops – big airdrops like the $UNI, $DYDX, or $OSMO airdrop.
And considering the current events, a big airdrop season could be around the corner!
Moreover, are we in an airdrop season already?
Everything started with the $OSMO airdrop earlier this year. Everybody who held $ATOM self custody on February 18, 2021, was eligible for this airdrop.
A couple of weeks after the airdrop, another snapshot was made: all $OSMO holders and liquidity providers are eligible for the $SUNNY airdrop.
So, just by being active in the Cosmos ecosystem, users got rewarded with two airdrops.
But this is just the tip of the iceberg! The YouTuber Cryptocito posted an interesting screenshot on Twitter of the upcoming airdrops in the Cosmos ecosystem. He also explained how to be eligible for them:
But not only the Cosmos ecosystem is interesting for potential airdrops. The Layer 2 solutions Arbitrum and Optimism launched very recently. However, neither Arbitrum nor Optimism has its own token yet!
Many people speculate on an Arbitrum and Optimism airdrop because of that!
In addition, Avalanche and Solana are two ecosystems to have an eye on for potential airdrops. More projects start to build on these networks. That means more activity and higher chances for airdrops, on the other hand!
How to prepare for the next airdrop season
So, what should you do for the next airdrop season?
Step number one:
Always hold parts of your assets self custody. Only then it’s possible to get an airdrop!
Step number two:
Use the product! Swap tokens, provide liquidity, stake, vote on proposals, etc.!
Your money has to be active! Otherwise, the chances for an airdrop shrink significantly. Airdrops, like the $UNI airdrop, are very uncommon!
But, if you get active on Cosmos, Ethereum Layer 2, Avalanche, and Solana, you have the best chances of being eligible for the upcoming airdrops!