For many new projects, giving out airdrops is a way to attract more people to their platform. It is no wonder why you see questions like “when airdrop?” or “airdrop when” in the community Telegram channel of some of these projects.
But what is an airdrop?
This is basically a free token given given to people. It is a marketing strategy employed by many new projects to draw people to their projects. Users are usually expected to complete simple tasks such as joining their community channels, or referring others.
Some other projects give out free tokens as a reward to early users or adopters. One such example was Uniswap, who gave out free $Uni tokens to users who either provided liquidity on the platform, or performed at least one transaction.
The amount of tokens given out varies based on the level and amount of transactions performed.
As has been mentioned earlier, airdrops are FREE! So if you are asked to pay for airdrop, it is likely a scam. If you are asked to input your seed phrase to get an airdrop, that’s also a scam.
If you like airdrops, then watch out for any such announcements by new projects. If a protocol doesn’t have a token yet, it may be wise to engage with that protocol. Maybe they will give out some free tokens as rewards upon launch of their token 😉
