Airdrops are rapidly becoming a crucial part of the crypto universe. An airdrop is typically a process where cryptocurrency is disbursed to users' wallets, usually for free. The idea behind airdrops is to take advantage of network effects by engaging existing holders in blockchain projects.
There are two types of airdrops: Free and Paid. Free airdrops are the ones where tokens are literally given away without any conditions. On the other hand, Paid Airdrops may require certain actions or conditions to be met by the users, like holding a special token in the wallet.
Typical conditions to receive an airdrop are often straightforward - hold a specific token at a particular time, sign up to a specific platform, or follow the project on social media. Most airdrops also have an element of referral marketing, rewarding users for referring friends to participate in the airdrop.
Among the most recently concluded quality airdrops are UNI (Uniswap), 1INCH (1inch exchange), and POND (Marlin). They rewarded their community and wider crypto users with free tokens.
Ultimately, the goal of carrying out an airdrop is to boost awareness of a specific token. The airdrops serve to bring in thousands of potential customers who could eventually contribute to the project. Whether a paid or free airdrop, awareness about the coin or token is understandably valuable.
