There are still a lot of people who don’t know much about cryptocurrencies, and opening an account with these trading platforms can be hard and expensive. Even though some investors and users are interested in investing, many people steer clear of this sector due to the high costs of purchasing well-known cryptocurrencies and the process as a whole. Digital currencies’ potential for widespread use and adoption is hindered by this obstacle.
Crypto airdrops are one trend that could be considered revolutionary in this setting. An airdrop is the mass distribution of tokens or coins stored in a wallet address with the primary goal of promoting a new cryptocurrency or project. It makes it easier for people to start using and trading cryptocurrencies with the least amount of risk possible by lowering the barrier to entry.
However, before we examine the analysis of an entry barrier, we must consider a free opportunity, which is crypto airdrops. The vast majority of the time, they offer users free tokens without even requiring them to take any action, such as joining a list or following a project on social media. Not only does it make it simpler for new users to sign up, but it also increases its visibility and can be utilized by recently listed projects. For instance, the market expansion and growth of projects like Stellar and Uniswap have been significantly aided by their successful airdrops.
There’s more to airdrops than just free coins: take into consideration the following benefits:
Users can first and foremost apply what they have learned about a variety of crypto-related projects.
Third, airdrops integrate users into the crypto ecosystem, and second, airdrops enable participants to participate with minimal investment.
What is an airdrop of cryptocurrency?
New users of crypto projects receive airdrops. To encourage people to use your chain, app, or game, tokens are the best incentive. Excited users and early adopters are attracted by an airdrop. Furthermore, it makes it possible for the project to enhance and optimize its technology. Farming airdrops, on the other hand, is a great way to get some if you don’t have much money to begin with. Additionally, farming airdrops teaches you a great deal about Defi and cryptography, making it an extremely useful skill.
What can be done to farm Testnet airdrops?
There are several ways to farm airdrops. Which type you choose will depend on how much time you have and how much money you need for airdrops. Let’s start with the cheapest option. Using a test net to farm. Only recently did testnets begin offering rewards that could be guaranteed. However, projects have recently made it abundantly clear that they are rewarded for their test net. This can be seen in the DOP, Metis, and SAVM, to name a few. Do not immediately enter their tenets.
Metis and DOP are great examples of farming with clear instructions on a test net. DOP provided you with step-by-step instructions for the test net. The Metis did the same, but they gave you points as well. In contrast, SAVM merely stated that test net users would be compensated. However, you needed to make a decision. This is pretty typical when it comes to airdrops. Until a snapshot has been taken, the majority of projects planning an airdrop won’t tell you what you need to do or what their requirements are.
The project will collect all wallet data used up to that point in time in a snapshot. After that, they’ll sort these wallets according to the criteria they set and determine how many tokens each person receives. Now, since they are free, the testes are probably the airdrops that will require you to spend the most time on them.
They are currently extremely popular because everyone wants to farm airdrops without spending any money. Rewarding the most successful users is common. As a result, testnets should be used for a lot of transactions. Depending on the kind of project, these transactions will include making swaps, bridging, using the app, taking trades, adding liquidity to the pool, and faucet claims. Free transactions are the only difference between these and mainnet-based transactions. One of the current testnet campaigns you could run is Mind Network.
They have a Galxe campaign that shows off the capabilities of the app. If you participate in the campaign and carry out the same transactions until the snapshot is released, you may be eligible for the airdrop. A project is never a guarantee unless it explicitly states that certain actions will earn you an airdrop. This is something you should always keep in mind when airdrop farming.
How can I farm quests and tasks?
Galxe, Layer3, Zealy, and Intract are just a few of the websites that have made app and chain exploration more fun. Projects like Manta gave users airdrops when they completed tasks on these websites. Linea is a similar airdrop that you can farm now.
Let’s face it: their airdrop has not been confirmed in writing. NFTs were distributed to individuals who completed Galxe-based testnet tasks. As a result of their extensive partnership with Interact on Linea Voyage, Linea Park is now available on Layer3. Since their Linea Voyage campaign, they have been rewarding participants with Linea XP or $LXP.
It is merely a token with no value. Linea Park is a great example of how projects will guide people through their ecosystem. By completing tasks, individuals can investigate games and apps.
For example, if you go to their Unfettered Quest here, you’ll get some background information on the game before you start your quest. When you finish it, you get $LXP as a reward. This is a comprehensive guide for the Linea Park project. Most of them don’t. However, a lot of them require you to complete ongoing tasks to acquire platform points, XP, or NFTs. It’s worth doing them if you can. You run the risk of missing out on an airdrop if you don’t take the time to complete these tasks.
Where can I find airdrops?
You now know how to farm airdrops in a better way. There will be tests for a lot of projects with Galxe campaigns. The most pressing issue is how to locate airdrops.
Twitter is your first option. Interact with the airdrop accounts by connecting to them. Step-by-step project guides or instructions are provided to users by numerous accounts. One of the most important ways to find the best airdrops is to find out how many people are farming. When there are more farmers, each person gets less, especially if you start later. Your second strategy is to see how much money a project has raised. Even if a chain has raised a lot of money, it probably won’t have a token yet.
The fact that they have questing campaigns and a points system is a slight indication that they will carry out an airdrop, although this does not necessarily imply that they will. Additionally, airdrop announcements may be hidden in the whitepaper or tokenomics of some projects. The Holy Grail of airdrop farming is locating a project with a significant raise but no token, mentions of potential airdrops or rewards in their tokenomics, and not many people are talking about it yet. The final method is to check apps on a chain you are farming that do not yet have a token.
A good rule of thumb is to look for a Dex on the chain without a token for swapping. With that Dex, you might be able to farm two airdrops at the same time. Both the Dex’s and the chain’s airdrops. There is no assurance in that. Examine the situation to determine whether Dex is carrying out an airdrop. Don’t worry if any of this seems a little overwhelming.
