Many people are interested in airdrops, but know little about airdrops. Today I will write down my several years of experience and recent research on airdrops. I hope it will give you a deeper understanding of airdrops. It is definitely worth reading carefully.
This article is mainly divided into 8 parts and takes about 10 minutes to read.
What is a blockchain airdrop?
Why does the project side send airdrops?
What can you do after getting the airdrop?
How many stages of airdrops have there been in history?
Analysis of several classic airdrop cases
Conjecture on airdrop rules at this stage
Our response
1. What is a blockchain airdrop?
Airdrop refers to an act in the blockchain field of sending free tokens or cryptocurrencies to a specific digital wallet address. In layman's terms: airdrop is an act of project parties giving away encrypted assets to users.
2. Why does the project side send airdrops?
Cryptocurrency is real money, why should the project give it to you?
I have summarized several reasons:
The project team wants to airdrop tokens to users to let potential investors and potential users know about the project, so as to achieve the purpose of publicity and promotion.
Give back to community users and hope that community users will continue to shine and contribute to the project in the future.
If the project side wants to obtain VC funding, it needs good user data. The project side sometimes hints to users that there will be airdrops for using the product. Now the circle has reached a consensus that early trial project products may have airdrops.
3. What can you do after receiving the airdrop?
When you get the airdrop tokens, you can do the following:
Participate in the governance of the project party and vote for the future direction of the project.
Hold and wait for the price to rise. Early airdrops are very low-cost chips, and high-quality projects are worth waiting for.
You can also go directly to the exchange to sell it and liquidate it to accumulate your original capital.
4. What are the stages of airdrops in history?
(1) Just confirm that you are a gay from the community
If you enter your email address in the early stage of Ripple (XRP), you can get about 20k Ripple coins. year 2013
Bind Stellar Lumens (XLM) to Facebook or verify your mobile phone number to get 6,800 Stellar Lumens. Based on the highest price of 5.5 yuan, you can get more than 30,000 yuan with just a few clicks. Year 2014
(2) Simple registration/0 transfer
If you transfer 0 eth from Avocado (ENU) to the contract address, you can automatically obtain the airdrop coin ENU. 2017
Ontology Token (ONT) is airdropped to holders with NEO in their wallets at a ratio of 5:1 for direct gift. 2017
(3) Simple interactive sunshine type
UNI: Just use uniswap. Minimum 400, and the number of tokens increases based on usage. (September 2020)
1inch: Just use 1inch.exchange, December 25, 2020
DYDX: Just recharge or trade on the dydx platform, divided into levels, July 26, 2021
Goldfinch: Just deposit and use it on its platform
ENS, just register an account, and the reverse analysis will be doubled, November 3, 2021
(4) Search for witches and screen them
Paraswap: Decentralized exchange, Paraswap airdropped historical interactive users in mid-November 2021. Since the Paraswap snapshot, approximately 1.3 million addresses have used the protocol, but only 26,000 users have been identified as active users, qualifying for airdrops Conditions of award. The probability is 2/130, but based on the highest price, the average airdrop is worth nearly 10,000 US dollars.
During this period, the requirements for airdrops are getting higher and higher. Simple interactions can no longer obtain airdrop tokens, and various complex rules of the project must be met. The project team hopes to distribute tokens to real users as much as possible. This kind of distribution model is a double-edged sword. If it is not done well, the reputation of the project will drop sharply in the market.
(5) Heavy users, multi-dimensional as airdrop conditions
OP: Optimism users, Optimism active users, DAO voters, multi-signers, Gitcoin donors, and some cross-chain bridge users will issue airdrops on March 25, 2022.
5. Analysis of several classic airdrop cases
(1) UNI (Uniswap’s governance token)
Speaking of airdrops, I have to mention the airdrops of UniSwap. UniSwap is a decentralized exchange. I personally started airdrops from Uniswap.
Uniswap issues its own tokens. Among them, 15% of the total airdrop supply, which is 150 million UNI, will be provided as rewards to those who have interacted with Uniswap before September 1, 2020, as follows:
51,534 users – 10.06% (100,613,600 UNI)
49,192 Liquidity Providers – 4.92% (49,166,400 UNI)
220 SOCKS redeemers/holders – 0.02% (220,000 UNI)
To put it simply: each user can receive 400 UNI, and each liquidity provider and SOCKS redeemer/holder can receive 1,000 UNI.
I remember that at that time, one account had 400 UNI, which was sold at the current price of 4 US dollars to get *400*3.5*6.5=9500 yuan. Nearly 10,000 yuan.
In other words, as long as you have traded once on Uniswap before September 1, 2020, you can get 400 UNI for one address, which was worth 10,000 yuan at the time and was worth 100,000 yuan at the highest point of the last bull market. So what if you have 10, 100 addresses?
The role of this airdrop has given the project party a good reputation in the community, so many project parties imitated his airdrop method, thus ushering in a prosperous period for airdrops.
(2) Dydx (governance token of dydx.exchange)
Dydx is a decentralized derivatives trading platform. There are two ways to interact with it: 1. Deposits provide liquidity; 2. Trading on Dydx. Therefore, he also distributes their airdrops based on these two methods.
The airdrop rules of Dydx are as follows:
At that time, after Dydx issued the airdrop, the price remained around $12 for two or three days. You can calculate how much profit you can get if you sell it as soon as you get it.
Answer: As long as you trade 1 USD, you can get 1,163.51*12=13,962 USD. Worth 90,000 yuan.
(3) ENS (governance token of Ethereum Name Service)
ENS is the governance token of Ethereum’s domain name system.
The airdrop of ENS will be allocated to registered addresses of ".eth" second-level domain names that have been registered or are currently valid. The weight of the airdrop is mainly calculated based on the account rather than the number of domain names. The formula is 0.27 multiplied by the number of days that at least 1 ENS domain name has been held, plus 0.067 multiplied by the number of days until the domain name expires (up to 8 years). If the account has additional reverse resolution set up, the above result will be multiplied by 2.
The goal of this airdrop method is to distribute ENS to real users of domain names as much as possible, rather than speculators speculating on domain names. I spent 2,000 yuan to register eight 2-year-old domain names and set up reverse resolution on them. , a total of 1,300 ENS tokens were obtained. The airdrop started with 25U tokens, and then all 80U tokens were sold, earning 100,000 US dollars, nearly 700,000 RMB.
(4) OP (Optimism’s governance token)
Optimism - one of the second-layer networks of Ethereum, the airdrop rules of Optimism, I think this is a very classic airdrop case. OP airdrops tokens to six categories of users:
The classic thing is that the user is given exponentially different treatment according to the degree of usage, and there are overlapping rewards. The more conditions that are met, the more stacked rewards you get in the end. Moreover, it is distributed in batches, truly achieving the role of an active project.
The benefits of this airdrop method: The Optimism airdrop rewards a real user. If you use Optimism for a short period of time, you will get a small amount of airdrops. If you use Optimism for a long time, the amount you get will be far better than the "wool party" who only interacted a few times. All subsequent airdrop rules for public chains will most likely refer to the OP’s model.
6. Conjecture on airdrops in the next stage
Based on the several historical stages and classic cases of airdrops mentioned above, it is not difficult to find that the grasshopper period of airdrops has passed. That is to say, the major Vs on Twitter said that airdrops are not easy to do. In fact, airdrops are now harmful to project parties and opponents. Users have put forward new requirements.
Requirements for project parties:
(1) Because of the existence of Lu Airdrop Studio, the project wants to promote the project through it, but now the effect is limited. From 2020 to 2021, the story of how airdrops brought instant wealth has attracted many people outside the market to come in to experience new products. It has also attracted many professional hairdressing studios, and interactive projects with hundreds of addresses per person. , this group of people are undoubtedly heavy users in the circle, but for the project side’s purpose of using airdrops to promote the project, there is still a heavy loss.
(2) Current airdrops are basically thrown away after the airdrop, which is not conducive to project user retention. The project side needs to consider how to retain users.
(3) In order to better achieve the airdrop effect, the project side needs to consider deeply how to send the airdrop to real users.
Requirements for users:
(1) There are too many projects to be interacted with, not enough wallet and time, too many projects, and serious homogeneity. A team of three or five people can just get together and start a business, call a few interfaces, and it will be an asset management company. Kanban, if it is made into a Web3 social platform, users will interact with it so that they can get investment. At this time, it is particularly important to research and select projects.
(2) Airdrop requirements have increased and airdrop shares have become smaller. At this time, it is particularly important to interact with products regularly and rank your address on the active interaction list.
7. How do we deal with airdrops?
General idea: Based on the current situation with many projects and high airdrop requirements, Panlu is no longer suitable. We need more research to see whether the research track has prospects, whether the research team has strength, and whether the research project has a high amount of investment. . Try to find projects with higher certainty to interact with.
Nowadays, people who play airdrops in the market can be roughly divided into two types of people:
An airdrop hunter who is proficient in airdrop strategies.
Mainly to experience the project, the airdrop is just a blessing.
How to become an airdrop hunter?
First of all, you must be able to research, research the track, research the project, and research the team. Then you need to be able to operate, such as:
Funds are allocated independently
Addresses are not confused with each other
Random interaction method, random interaction time, random interaction items
The number of interactions reaches the top 20%
Prepare a three-piece set of infrastructure: Twitter account, discord account, and email address, corresponding one to one.
Be more conservative, use a fingerprint browser, and isolate each infrastructure and address with an independent IP.
High technical level, using scripts, not too rigid, and more random
This type of airdrop hunter requires high skills and capital, and of course the final benefits are also high.
The other is to actively experience on-chain projects, and airdrops are just a blessing.
In fact, as an experiential project, you can also gain a lot of benefits.
For example, what I gained out of curiosity:
I played AMPL at that time, and my wallet had a balance of AMPL. I airdropped the governance token Forth, and the airdrop actually gave away tokens worth 10+w. The airdrop rule is that if there are coins in the wallet, there will be airdrops, and the longer the time, the more coins will be airdropped.
BrightID is an identity authentication application. I was curious to try out the product in the early days. It was still late at night, and I got the authentication in English. When the coins were finally released, they were airdropped and sent to me twice, totaling more than 3,000 coins. Worth 20,000-30,000.
GTC, Ethereum's project donation platform, Huggies donated to some projects at that time, and even issued tokens worth 10,000+ when they issued airdrops.
DappRadar has been used by everyone who has used ecological applications, and it is also a blessing from the experience.
ENS, because I like domain names, I registered a few more, and actually got 700,000 in return.
Finally, everyone is welcome to share and exchange any good projects, and I wish you all the best.
