Recently-Launched Layer-1 blockchain company Aptos Foundation rewarded its early network participants with free APT tokens earlier this week. According to the company, it had set aside about 20 million APT tokens (which represents 2% of its initial total supply of 1 billion APT) for about 110,235 eligible users. These airdropped tokens were worth about 200 million dollars when the company airdropped them.

This move by Aptos has sparked an ‘airdrop season’ and further proven the importance of airdrops in the ecosystem and as a marketing tool. Furthermore, the company used this tool to great effect as it came at a time when it faced huge criticism from community members about its sketchy launch and tokenomics. It is safe to say the distributed tokens worked their magic, and Aptos was able to control the whole narrative. 

What Are Crypto Airdrops?

Crypto Airdrops are a marketing tool that crypto startups use to promote their ecosystems. These companies distribute tokens to crypto traders to generate buzz around their activities. Think of it like a giveaway but in the Metaverse. On the other hand, crypto investors and traders are more than happy to receive these tokens since it requires little or no effort. 

The logic behind airdrop is that crypto projects want to get many people to interact with their tokens, and the easiest way to do that is to give them a taste of the tokens for free. They expect these users to become a stronghold of the ecosystem and spread the word to other crypto investors and traders. Companies anticipate this result and hope a strong community will increase its value and cause a surge in the token’s price.

Although numerous crypto airdrops exist in the ecosystem, some are usually more valuable than others. Projects that distribute airdrops just to create hype over the price are red flags. If airdrops are their best offerings, then that token usually has no utility. Most times, the founders use the hype around airdrops to create a pump-and-dump situation where they make a profit from the token’s price skyrocketing for a brief period. Users who hold on to their tokens after this period are left with worthless tokens as the price decreases drastically. So, how does one know which airdrops to position themselves for, and how can they be obtained? Continue reading to find out.

Notable Crypto Airdrops In The Past

There have been several notable airdrops in the past, including ones from leading crypto projects. Besides, airdrops have been a common phenomenon in crypto for years. The first crypto airdrop ever was in 2014 by Auroracoin. One of the most well-known airdrops was the one by Uniswap Labs in 2020. The company issued around 150 million tokens to community users, sharing about 400 UNI tokens each which were worth around $2500 at the time. Users who may have held these tokens until their all-time high would have made around $16,000 in profit. That is a perfect example of airdrops one should watch out for. 

Another lucrative airdrop happened with 1INCH, giving users the perfect Christmas gift in 2020. The crypto company airdropped 90 million tokens to its early users. Users received a minimum of 600 1Inch tokens worth $2,000 at the time. A trader received almost 10 million free tokens, worth about $27.5 million at its all-time high. Incredible, right? However, there are also downsides to airdrops, and one of them is that the token’s price can tank as a result of many users selling their tokens. It creates a situation where supply is greater than demand. The token could take some time to recover after such a hit. 

How To Find Upcoming Crypto Airdrops

There are several ways to find upcoming crypto airdrops. Google is a quick way to discover current airdrop offerings and there are websites that are very helpful. Besides finding airdrops in progress, you can also discover upcoming ones. For example, Decentralized Finance (DeFi) TVL aggregator, DeFiLlama features an airdrop page on its website. The landing page contains a list of tokenless protocols that could airdrop its tokens in the future, although there are no guarantees. 

Upcoming crypto airdrops to look out for

There will always be new airdrops in the crypto ecosystem. Here are some upcoming tokenless projects and chains that have lucrative airdrop potential: 

Sui Blockchain 

Like Aptos, SUI is a Layer 1 Blockchain. It prides itself as the first permissionless Layer 1 blockchain designed to allow creators and developers to build experiences that provide utility for web 3 users. It also aims to solve the Blockchain trilemma of decentralization, security, and scalability. What is interesting at the moment is that the blockchain could follow Aptos’ footsteps and distribute airdrops to its early users. Therefore, it would be great to get involved early and possibly qualify for this potential airdrop. 

Arbitrum

Arbitrum has achieved great success since launching its mainnet last year. It is the largest Layer 2 ecosystem on the Ethereum blockchain and seeks to serve as a solution to Ethereum’s scalability woes by reducing congestion within the network. Currently, Arbitrum doesn’t have its token, but there are rumors that the company could launch one soon, which could bring about a potential airdrop to protocol users. As such, it is best to interact with the network to boost one’s chances of being eligible if an airdrop eventually occurs.

zkSync

zkSync is a Layer 2 scaling solution launching on the Ethereum network. It utilizes zero-knowledge technology, which allows a party to confirm the validity of a transaction without revealing any other information. The project’s team hasn’t confirmed that there will be an airdrop. However, it is best to be well-positioned in case they end up airdropping tokens to early users. Interacting with the chain’s testnet is a likely criterion for eligibility if there is eventually an airdrop. So, it is best to perform activities on the testnet, such as bridging and interacting with protocols on it. 

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