The cryptocurrency space has seen some of the craziest re-distributions of wealth that I have ever seen before. People are actually ending up with more value than they were even possible expecting; not just through their holdings gaining value but also from a wonderful concept known as an airdrop.
What Is An Airdrop?
Here's the definition of an airdrop right now:
An airdrop is a distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses. Airdrops are primarily implemented as a way of gaining attention and new followers, resulting in a larger user-base and a wider disbursement of coins.
Essentially it is a marketing tactic or a way of rewarding stakeholders with a new token. It greases the wheel for involvement with that token and depending on the utility of the token, provides great value and benefits to the person receiving it.
Recent Aidrops
Three recent airdrops that were highly profitable for those who got it were Uniswap, 1Inch and FORTH.
With Uniswap, anyone who had ever conducted a transaction on their network received 400 of their UNI governance tokens. These tokens are used to vote on proposals for the DEX as well as being a possible part of a base pair for liquidity pools. Currently this airdrop would be worth around $15,000 USD... Not bad
With 1Inch a similar pattern of distribution was used but based on the amount of swaps and dollar value on the DEX. The biggest recipient brought home what would now be worth over 50 million USD. Now most did not take home this much, but it shows the potential here.
With FORTH, they used a very specific and somewhat unknown formula for the distribution of their governance token. However, for holding about $8 worth of Ampleforth, I recieved quite a generous airdrop (I have written about this before).
Possible Upcoming Airdrops
With such explosive potential in the field of airdrops, it is important in my opinion to try to use as many quality apps and DEX's as possible as you never know where the next drop will be coming from.
Three such apps/DEX's that I believe may have potential for an airdrop in the near future are:
Metamask:
It goes without saying that this would be enormous. Metamask is the go-to choice of many for DeFi integration. On Cub Finance, many are using Metamask as the intermediary for the Binance Smart Chain and are conducting dozens (or hundreds) of transactions.
As Metamask has recently launched the ability to conduct swaps on the app itself, it is beginning to resemble a DEX aggregator. This fact opens up many possiblities including a governance token. If their airdrop was based on the volume of transactions you completed on their app, that would lead to huge claims for many. This is the airdrop that I would love to see the most personally.
dYdX
This is another DEX in the crypto world, but the volume that they handle is quite impressive. Today alone they have conducted swaps for over 40 million USD. With such large volume, it feels like it may be worth your time to make a few swaps on their site; you never know if their governance token will carry a lot of value!
DeFisaver
This is like a one-stop DeFi checkpoint that also offers smart savings and serves as a DEX aggregator. With so much utility on this app, I would not be surprised to see a quality governance token being dropped to people who have used their services.
These are all theoretical and may never launch a governance token or have an airdrop. I do think that they look like platforms with a lot of potential, so we'll see what plays out. It may be worth diversifying the apps and Dapps that you are using because you never really know what will be due up next!
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My name is Rob and I am a college student doing my best to get involved in the crypto world. I have enjoyed blogging thus far and thank you for reading my article! Give me a follow and let’s build the community together through consistent engagement.
