01 What is a Snapshot?
In simple terms, a snapshot is the process where the project team records the balances and status of all addresses at a specific time point in the blockchain network. Generally, this time point is decided and announced in advance by the project team or community. Once the snapshot is completed, the recorded data can be used for subsequent operations, such as airdrops, forks, network upgrades, etc.

02 The Main Functions of Snapshots
After understanding what snapshots are, it is necessary to introduce their functions.

Airdrop
The concept of airdrop is familiar to everyone. To put it in more sophisticated terms, an airdrop refers to a method by which the project team distributes new tokens for free to existing token holders or addresses that have made specific contributions. Generally, the project team will choose a block height or time point for the snapshot, and after the snapshot, they can determine which addresses are eligible for the airdrop. For example, if your address holds specific tokens at a certain time point or block height, it will be recorded during the snapshot, and you will later receive the airdrop of new tokens.


Fork
What is a fork? To simply explain, a fork refers to a situation where the blockchain network splits into two different chains. Generally, before a hard fork occurs, the project team will record the token balances of all addresses through a snapshot. After the fork, holders will receive a corresponding number of tokens on both chains. For example, Bitcoin Cash (BCH) was born after a snapshot and fork from the Bitcoin network in 2017.


Network Upgrade
Here, let me explain in an emotionless official manner. Generally, when a blockchain network undergoes a major upgrade or protocol change, a snapshot can ensure that the network state is consistent before and after the upgrade, thereby maintaining data integrity and network stability.


03 How is the snapshot implemented?
Everyone should pay attention, the snapshot is not just the project team randomly taking pictures with a camera, it is not done manually. Generally, it is completed by the software of blockchain nodes. Nodes will record the state of each block and then generate snapshot data at a specified time point or block height. This data will subsequently be used by the project team to execute related operations.

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The application of snapshots in airdrops is quite extensive, let me explain this in detail.

01 The Role of Snapshots in Airdrops
Ensuring Fairness: Snapshots can record the state at a certain moment to ensure that the airdrop rules are fair and just for all participants.

Transparency: Snapshot data is usually based on the public ledger of the blockchain, and anyone can verify it.

Preventing Malicious Behavior: This avoids users taking advantage of short-term operations to profit after the airdrop rules are announced. In simple terms, it prevents speculation, as some people may buy a large amount of tokens temporarily after learning about the airdrop or fork and then immediately sell them for profit once the snapshot ends.


02 Steps of Snapshots in Airdrops
Selecting Time Points: The project team usually announces the specific time or block height for the snapshot in advance, allowing users time to prepare.

Data Recording: At the specified time point, the blockchain nodes will record all addresses' token balances or other related information, such as activity participation records.

Eligibility Confirmation: At this point, eligible addresses can be filtered based on the snapshot data.

Token Distribution: At this stage, the project team can distribute new tokens to the eligible addresses based on the snapshot results.


03 Specific Cases of Snapshots in Airdrops
Uniswap (UNI) Airdrop
The decentralized exchange Uniswap launched its governance token $UNI in September 2020, and on September 1, 2020, a snapshot was taken. Users who had used Uniswap before the snapshot received 400 UNI for each eligible address. Within just two or three months, the price of UNI tokens reached $20, a tenfold increase. If one did not rush to sell after receiving the airdrop, its value could reach $8,000, which is simply amazing. This airdrop also significantly increased Uniswap's community participation and the decentralized distribution of tokens, making it one of the most successful cases in cryptocurrency history.



Optimism (OP) Airdrop
Optimism is a Layer 2 scaling solution for Ethereum, which launched its governance token $OP in 2022. Multiple snapshots were taken at various points in time based on users' historical activities on the Optimism network. Users who traded on Optimism, provided liquidity, or participated in other activities received different amounts of OP tokens distributed according to their activity and contribution levels. Through multiple rounds of snapshots and airdrops, Optimism attracted a large number of users and developers, subsequently driving the rapid development of the Layer 2 ecosystem.



Aptos (APT) Airdrop
Aptos is an emerging Layer 1 blockchain that launched its mainnet in 2022. Before the mainnet went live, the official team took a snapshot based on users' participation records on the testnet. Users who participated in the Aptos testnet, NFT holders, etc., received varying amounts of $APT tokens based on their contributions on the testnet, such as test transactions and bug submissions.