Free eggs from the sky! Airdrops are rewards sent to holders just for holding a wallet.
Course Outline
- Introduction to Airdrops
- Why Projects Conduct Airdrops
- Snapshot Mechanics
- Eligibility Criteria
- Risks and Security Considerations
- Best Practices for Claiming
- Real-World Examples
- Quiz: Test Your Knowledge
Course Content
1. Introduction to Airdrops
Airdrops are a popular tool in the crypto space to distribute tokens directly to community members’ wallets. By sending free tokens, projects can reward loyal users and quickly bootstrap awareness.
2. Why Projects Conduct Airdrops
- Community Growth: Encourage word-of-mouth and social engagement.
- Decentralization: Spread token ownership to prevent centralization.
- Marketing Hype: Create excitement leading to more network activity.
3. Snapshot Mechanics
A snapshot records wallet balances at a specific blockchain block number. This ensures transparency and fairness when determining who qualifies for the airdrop.
4. Eligibility Criteria
- Minimum Balance: Hold a certain amount of tokens before the snapshot.
- Token Holding: Hold specific partner or governance tokens.
- Task Completion: Engage in community tasks like social media giveaways.
5. Risks and Security Considerations
While airdrops are free, they can sometimes be phishing attempts:
- Scammers mimic legitimate airdrops to steal private keys or funds.
- Never pay gas fees beyond the network standard to claim tokens.
- Double-check the official project channels for claim links.
6. Best Practices for Claiming
- Use a dedicated wallet for airdrops to limit risk.
- Keep private keys offline and never share seed phrases.
- Verify contract addresses through trusted sources before interacting.
7. Real-World Examples
Uniswap (UNI): Distributed 400 UNI to each wallet active before September 1, 2020.
ENS (Ethereum Name Service): Allocated tokens based on domain ownership and activity.