According to the Cambridge Dictionary, an . An airdrop of this nature would probably not make you any ‘free money’, however, airdrops in the Cryptocurrency space will. airdrop “is the act of bringing supplies or equipment by dropping them from aircraft” In this post I will give you the low-down of airdrops by describing what they are, the different types that exist, why they happen and some notable ones that have happened in the past. What is an Airdrop? An airdrop is the process in which Cryptocurrency projects decide to distribute some ‘free’ coins/tokens to users, given they meet the airdrop requirements. Airdrop eligibility requirements, could include: — This is a very common airdrop mechanism, in which projects airdrop coins/tokens to users depending on whether they already own a certain coin/token. An example of such airdrop was the OmiseGo, whereby they airdropped OMG tokens to all Ethereum wallets holding at least 0.1 ETH. Holding a certain coin/token — This mechanism usually includes carrying out a few very simple social media tasks, such as, sharing a post, joining a Telegram channel, etc. Post/share on social media Subscribing to a newsletter Signing-up to their platform Airdrops can come in two different forms: — In which a snapshot of the blockchain (i.e. the balances of every wallet at a particular date & time) is taken before announcing the airdrop. Then, for example, a project can launch a airdrop based on that particular snapshot. Surprise airdrops “hold a certain coin/token” — These are airdrops which are announced beforehand with a particular date & time in which they will occur. This form of airdrop is usually executed by airdrops that require actions from the users. Planned airdrops A word of warning — if your coins/tokens reside on an exchange (rather than in your wallet), it’s in the exchange’s discretion whether they will distribute the airdropped coins/tokens. Some exchanges are more ‘airdrop-friendly’ than others. usually does an with this. For example, users with EOS balances in their account automatically received their IQ, DAC & EON airdropped tokens. Binance excellent job Binance Reasons for airdrops You might be wondering, why projects would give away ‘free money’. There are a few reasons why projects would do this, as outlined below: — Institutions/individuals who own a project’s coins/tokens would normally come from the pre-sale, public sale and the team. By carrying out an airdrop, the number of people owning a project’s coins/tokens increases significantly. This helps in creating a community and network. Community Creation — In marketing, lead generation Airdrops are an amazing mechanism to generate leads — you ask users for basic information and in return you reward them with some ‘free money’. This generated a strong lead database which helps driving future marketing campaigns. Lead Generation “is the initiation of consumer interest or enquiry into products or services of a business”. — Facebook may not be covering itself in glory as of late, but its model has always been . Airdrops and that wouldn’t have heard or owned any of its coins/tokens. This not only raises awareness but also created an This is Raise Awareness “if you’re not paying for the product, you are the product” create awareness bring people on-board endowment effect. “the hypothesis that people ascribe more value to things merely because they own them” — This form of airdrop is usually used as a retention strategy. What better way to reward loyal followers by giving them some free coins/tokens? Reward Loyal Followers Notable airdrops As of late, airdrops have become more and more prominent. Unfortunately, bad actors are trying to take advantage of this by creating fraudulent or ‘worthless’ airdrops, so do your own research before participating in any. Having said that, there have been many successful ones performed by serious projects, including: — announced their airdrop in December, 2015. Signing-up was available for nearly a month and had over . Each successful participant received more than , where each was worth and is . Decred (DCR) Decred 3,000 applicants 282 DCR DCR ~$2.45 a month later currently worth ~$63 — In August, 2017, announced that they will airdrop to on the Ethereum blockchain. 5% of the total supply of OMG were airdropped to wallets that held a balance at a specific snapshot. This resulted in over 450,000 addresses receiving which was worth at the time. OmiseGo (OMG) OmiseGo OMG every address over 0.1 ETH OMG ~$11.50 — has actually performed 3 airdrops to date; the first one being the most important (and valuable). After deciding that they decided to airdrop to everyone who . was worth when the ONT were distributed to subscribers and reached up to , potentially netting users . Ontology (ONT) Ontology Ontology wouldn’t carry out a public sale 1,000 ONT subscribed to their newsletter ONT ~$2 ~$10 a month later $10,000 — airdropped to eligible participants (that had successfully passed KYC). There were applications from all around the world and resulted in being distributed per user. Shortly after the airdrop, was worth . Polymath (POLY) Polymath 10,000,000 POLY 40,000+ 250 POLY POLY ~$1.60 An upcoming airdrop worth mentioning is an app for Decentralized Exchanges (DEXs) that will interface with the on and as well as the . WandX WandX DEX Ethereum NEO WandX Basket protocol In other words, is building a platform (accessible via your web browser and/or mobile application) that will allow access to all DEXs on different blockchains, all under one roof. WandX is a token that will enable users to receive (once these are ), in the form of , depending on the DEX’s transaction volume. WANDNEO dividends staked GAS will be airdropping to new participants, as well as, existing holders. Existing holders have a bigger slice of the pie, and will be airdropped WANDNEO tokens at a 1:1 ratio (see charts below). WandX WANDNEO WAND WAND This airdrop aims to raise awareness, create a bigger community, as well as, reward loyal followers. You can find their original announcement, . In order to be eligible, you need to before the by following the steps below**:** here register 10th of August Join . WandX’s Telegram group Follow WandX on . Twitter Fill out the form, . here You can find more information and registertration details by following the link, . here How many claps does this post deserve? How about a follow? If you enjoyed this post, please feel free to 👏 👏 many times (you know you want to!), give my blog a 👣 👣 and 🤲 🤲 with your friends. There’s a limit of 👏 👏 you can give to each post, so I urge you not to try and exceed that limit… you might break Medium! clap follow share 50 claps Speaking of which… If I still have your attention, please leave a comment and let me know what else you would like to see me writing about. You can find links to my social media and sign up to my newsletter below. ermos.crypto+medium@gmail.com You can also show your support by donating to the following address: : ETH/WAND 0x4c7195E074cf0Ab6F77Bdb7C97Fd2567066Bb712 . Disclaimer: All information and data on this blog post is for informational purposes only. My opinions are my own. I do not provide personal investment advice and I am not a qualified licensed investment advisor I make no representations as to the accuracy, completeness, suitability, or validity, of any information. I will not be liable for any errors, omissions, or any losses, or damages arising from its display or use. All information is provided as is with no warranties and confers no rights.

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