WHAT ARE AIRDROPS & IT TYPE.

ArVG...p98v
4 Apr 2024
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What we do here?

Airdrop
Mining
Crypto investments (hardly, just calls)
Free Crypto Updates (halted for now)

Etc
These are the types of updates we do here 🤝

What are Crypto Airdrops


A crypto airdrop is a way of distributing/rewarding/sharing coins or tokens to holders/users/community members who perform certain tasks or were just lucky.
-These airdrops are used to promote a new crypto project, or they can be used to reward loyal users.

All you have to do is complete some simple task/transactions and you get rewarded with points/tokens which will later or immediately sent to you, sometimes they reward with points which can be later converted to coin once the project launches🤝

TYPES OF CRYPTO AIRDROPS

-Bounty bug reward
-Tasks reward
-Holder/staking reward
-Retroactive airdrops etc

Fully based on luck, requirements and so on.

Bug Bounty: These airdrops are designed to reward users for finding bugs/issues in a Blockchain or certain app, it requires you to interact with the Blockchain so well and test all futures and find a problem in it, this is mostly specified for developers.

Holder/staking Airdrop: In holder airdrops, tokens are distributed to users who hold or stake a specific type of cryptocurrency, staking means locking your token s for a specific time, you can't sell or withdraw till the period is over.

- For instance, if a new token is built on the Ethereum blockchain, the token's creators may decide to airdrop tokens to all users who currently hold Ethereum (ETH) in their wallets.

Free/Luck Airdrop: This is the simplest form of airdrop, where participants just need to provide their wallet address and some basic information to receive the free tokens.

The objective here is to reward the first few users to get into the new token, so you must be quick.

Retroactive airdrop: appens when an existing protocol/project releases a native token. You can think of it as a way of rewarding a project’s early adopters and those who contributed to its initial growth, e.g Jupiter Exchange airdropped $JUP to people that were using the Jupiter exchange to trade.
This requires you to use the app or Blockchain for your data to day activities, transactions and so on.

• Not free as it mostly require funds to interact with the project.

Tasks and Quest: These tasks could range from sharing a social media post, posting on social media and tagging the company or retweeting a recent tweet about the project, writing a blog article, referring a friend etc
Quests can include you registering for an app, create a meme, design, logo for the project, sometimes they will require you to be an active member in their groups, channel, you chat daily and get to a specific level.

At the end of the day, everyone got rewarded for this tasks & quest.
Websites use for doing Quests and Tasks

Zealy
QuestN
Interact
Galxe
Soquest and so on.

If you want to read more about this apps, you can check HERE

Steps in processing an Airdrop

Announcement and Eligibility Criteria: The project team announces the airdrop and outlines the eligibility criteria.

User Participation: Depending on the type of airdrop, users may need to perform certain actions to qualify. This could include signing up On there site , joining there social media groups, holding a specific amount of a cryptocurrency, or engaging on there social media promotion.

Verification and Compliance: The project team may verify the participants identity/eligibility, this could involve checking wallet balances for holder airdrops or confirming completed tasks for bounty airdrops.

Distribution of Tokens: Once eligibility is confirmed, the project distributes the tokens. This is usually done automatically, (can decide sell off your coin or hodl).

Post-Airdrop Activities: After the airdrop, the project may engage with the community for feedback, further promotion, or to announce additional phases of the project.

Vesting/Staking: The project might decide not share all the reward at once to avoid price impact, so they might share the token based on either monthly/weekly cliff, which means you will claim some amount of your token fro time to time.

This whole process can take weeks, months or years.

So you need to be extremely patience, airdrop is not a get rich quick stuff- buh trust me just one win from a project can change your financial status.

Mining: This is the process of mining/digging (virtually) a coin using your Mobile device, this sometimes doesn't require you to open the app everytime, you can withdraw after mainnet the coin is listed on an exchange and you will be able to sell/convert your mined coin to other crypto or your local currency.

You can even get a buyer before the coin get listed on an exchange

All you need to do is to
Download the app
Register
Activate your miner daily (by just tapping a button).

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