DeFi airdrop analysis and common airdrop methods

Nowadays, more and more DeFI projects choose to airdrop to users, because the current airdrop projects can reward early supporting users, and there are even some high-quality projects whose airdrop value is quite high. DeFi airdrop is actually the current activity of airdropping tokens from some high-quality DeFi projects that have not issued coins. Just like Uniswap’s airdrop in September last year was actually worth US$10,000, so investors also want to get more airdrop opportunities. Maybe you You can gain more wealth opportunities through these projects. Many investors want to have a deeper and more thorough understanding of what this DeFi airdrop means? Let the editor take you through an article to understand DeFi airdrops.

What does DeFi airdrop mean?

Airdrops are a way for companies to place cryptocurrencies or NFTs directly into users’ wallets. Compared to an IPO, a blockchain service launches tokens and conducts airdrops to users who have used the service. There are several reasons for this approach: on the one hand, it can be used as a pure marketing method to increase people's awareness and investment awareness of the token through airdrops; on the other hand, airdrops can also provide governance tokens for the DAO , to promote community participation and decision-making.

A recent example is the Ethereum Name Service (ENS). The service allows users to change their wallet number to a wallet name (such as CNET.eth). Last December, ENS launched its own ENS token and airdropped a certain amount to everyone using the service. The more people use the service, the more tokens they will be airdropped for, which in some cases could be worth tens of thousands of dollars. This example shows the correlation between users of the Ethereum name service and token value.

Common DeFi airdrop methods

The editor has summarized four common types of airdrop objects and methods for DeFi projects. The following are specific suggestions for these four types of methods.

It is recommended to interact with smart contracts of projects that have not issued coins as much as possible, because many project parties will airdrop tokens to addresses that have interacted with their smart contracts when issuing coins. Some projects will even continue to airdrop to interactive addresses after issuing coins, such as 1inch. Of course, each interaction will incur tens of dollars in gas fees, so high-quality projects must be carefully selected to ensure high-value airdrop opportunities with a certain degree of certainty.

The current high-quality projects with unissued coins include: MetamaskSwap, dydx (update: coins have been issued and airdropped), Opyn, Paraswap, Polymarket, Zapper, OpenSea, Zerion, DeFiSaver, etc., for reference.

2. Participate in the test network testing of unissued currency projects. Some projects will airdrop to users who participate in the test network testing after the token is issued. Testnet interaction only uses ETH test coins and does not require actual gas fees, so this opportunity is worth participating. You can enter your ETH address at https://faucet.ropsten.be/ or reply with your ETH address at https://gitter.im/kovan-testnet/faucet to obtain ETH test coins.

Participating in on-chain voting governance of mainstream projects is a good choice, because many new currency projects will attract attention by issuing airdrops to deep DeFi participants. However, you need to own a certain number of project tokens before participating. Therefore, if you want to obtain these airdrops and participate in on-chain voting, it is recommended that you accumulate some mainstream project tokens in the DeFi field. In this way, you can participate in the on-chain voting governance of several mainstream projects and enjoy the benefits of related airdrops.

4. Participate in donations from project donation platforms such as Gitcoin. Many projects will airdrop to such users after issuing coins. In the latest Gitcoin donation event, the minimum donation threshold for users is 1 US dollar. It also supports layer2 donations and the gas fee is quite low. However, this event has ended. When the next event starts, you can also consider participating. (Update: Gitcoin has issued governance tokens on May 25 and airdropped them to previous donation users.)

The content above is the editor’s popular explanation of what DeFi airdrops mean. Crypto airdrops are a marketing strategy in which developers of a specific blockchain project send free tokens to users. New projects use this strategy to promote themselves ahead of their official launch date. Startups are using both cryptocurrency airdrops and NFT airdrops to create buzz. It also raises awareness about its collection of non-fungible tokens (NFTs), or cryptocurrencies. Airdrops can also increase the price of a token if there is a lot of publicity. While each project may have its own rules and conditions, it will involve some use of the project's services.

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