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What is Airdrop ?

Crypto airdrops refer to the process of distributing free cryptocurrency tokens or coins to individuals as a marketing strategy or a way of promoting a new cryptocurrency project. In this process, crypto projects typically distribute a certain amount of tokens or coins to a large number of people who meet specific criteria, such as being registered on a particular platform or holding a certain amount of a particular cryptocurrency.

Airdrops can be used to promote a new cryptocurrency project, raise awareness about a new token, or reward existing users. Typically, individuals must meet certain requirements to be eligible to receive an airdrop. For example, they may need to hold a certain amount of a particular cryptocurrency, follow a social media account, or complete some other specific action.

Airdrops are often used as a way to build a community of users around a new cryptocurrency project. By distributing tokens or coins to a large number of people, the project can generate interest and create a network of users who can help promote the project in the future. Airdrops can also be used as a way to reward existing users and encourage them to remain active on a platform or participate in a particular activity.

How to eligible for airdrops ?

Owning a specific cryptocurrency: Some airdrops require participants to hold a certain amount of a particular cryptocurrency in their wallet or on a specific exchange.

Following social media accounts: Many airdrops require participants to follow specific social media accounts, such as Twitter, Telegram, or Discord, and engage with the project by liking, sharing, or commenting on their posts.

Referring friends: Some airdrops offer additional tokens or coins to participants who refer friends or family members to the project.

Completing specific tasks: Some airdrops may require participants to complete specific tasks, such as filling out a survey, downloading an app, or joining a specific group.

Meeting geographic requirements: Some airdrops may only be available to participants in certain countries or regions.

Lets discuss about big airdrops

There have been several crypto projects that have given big airdrops in the past. Here are a few examples:

Uniswap: In September 2020, Uniswap, a popular decentralized exchange, gave away 400 UNI tokens (then worth around $1,200) to all users who had ever used the platform before September 1, 2020. This airdrop was worth a total of $150 million.

Filecoin: In October 2020, Filecoin, a decentralized file storage network, gave away 25% of its total token supply to miners, investors, and community members who participated in the project's network at launch. The airdrop was worth a total of $200 million.

Flare Network: In December 2020, Flare Network, a smart contract platform for XRP, gave away Spark tokens to XRP holders. The airdrop was worth around $6 billion in total and gave eligible XRP holders Spark tokens at a ratio of 1:1.

THORChain: In June 2021, THORChain, a decentralized cross-chain liquidity protocol, gave away 5 million RUNE tokens (then worth around $150 million) to early supporters of the project.

Conclusion :

Crypto airdrops can be a great way for individuals to receive free tokens or coins, participate in new projects, and build a community around a particular cryptocurrency. They are typically used as a marketing strategy to promote a new project, raise awareness about a new token, or reward existing users.

However, it's important to be cautious when participating in airdrops, as not all projects are legitimate, and some may be scams designed to steal your personal information or cryptocurrency. Before participating in any airdrop, it's important to do your own research, verify the project's legitimacy, and understand the requirements for participation.

Overall, crypto airdrops can be a valuable tool for both projects and users, but it's important to approach them with caution and always prioritize security and due diligence.