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Moonveil airdrop

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How crypto airdrop work?

Many crypto companies distribute free coins to their communities to increase their project’s visibility, increase the circulating supply and stimulate trade. These free distributions are commonly known as airdrops.

Most of the airdrops that we present are “bounty” drops, which will reward you with tokens for completing simple social media tasks (Joining their Telegram group, reposting on Twitter, etc.). This offering creates a win-win scenario because the company gets free marketing, and you get free crypto. Other airdrops will reward you for simply holding a specific coin without expectation of any reciprocal consideration.

DISCLAIMER

This content is for educational and informational purposes only and not financial advice. Conduct thorough research before making any deposit/investment decisions (Do Your Own Research).

Airdrop Farming Explained for Beginners in Crypto

Are you new to hunting and farming airdrops and looking for how to get started? Then this guide is perfect for you. Airdrops have rewarded many people in the crypto space with thousands of $Dollars from projects like Uniswap, Arbitrum, Optimism, Starknet, etc. After reading this article, you too can participate in this massive opportunity.

Here are key takeaways:

  • Preparation is Key: Stay organized! Create a spreadsheet/notepad to track progress across networks and protocols, ensuring consistency.
  • Time Investment: Tailor your participation based on available time. More hours allow for exploring more networks and protocols.
  • Budgeting Matters: How much can you spare for this? Decide if you’ll use testnets (free) or invest in mainnets (recommended). Start small, then scale up as you gain experience.
  • Wallet Strategy: Choose between burner, fresh, or existing wallets, considering historical transactions and Sybil avoidance.
  • Setting Goals: Determine whether you aim for the top 10% or a broader reach (35%+). Tailor your engagement accordingly.
  • Network Selection: Choose promising networks/protocols based on current trends and potential. Consider both low-risk and higher-risk options.
  • Eligibility Criteria: Understand the typical requirements (transactions, volume, activity, bridging, etc.) and explore additional factors like Galxe quests, domain names, and wallet age.
  • Tools & Resources: Leverage tools like zkCodex and Trustalabs to track your score and optimize your efforts.

So what’s an airdrop?

Airdrop is a distribution of free tokens by a crypto project to a specific group of users based on specific eligibility criteria. These airdrops are often used as a marketing strategy to either:

  • Promote a new project: By giving away tokens, the project can generate interest and attract new users.
  • Reward existing users: This can build a stronger community and incentivize users to continue using the project.

Now what’s airdrop farming?

In contrast to simply getting airdrops, airdrop farming involves actively searching for and joining airdrops to get as many tokens as possible. This might involve:

  • Looking for new projects: People who farm airdrops try to find new projects that might give out tokens in the future.
  • Doing tasks: Sometimes, airdrops require users to do things like following the project on social media or joining their online groups.
  • Using multiple wallets: This is a strategy where people create several wallets to try and get more airdrops, but it’s not well-liked by many and might go against the project’s rules.

Looking to increase your crypto earnings with airdrops? This guide dives into the essential aspects of airdrop farming, helping you make informed decisions and maximize your potential rewards

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How to succeed with airdrop farming

Airdrop farming is a hot topic lately, and people are looking for advice on where to start and how to do it well. This guide will explain the basics of airdrop farming and answer common questions to help you get started.

Before you begin, remember:

  • Time, organization, and (sometimes) money are key ingredients for succeeding in airdrop farming.
  • Stay organized! Use a spreadsheet or notepad to track your progress across networks and protocols. You won’t be able to remember everything so write everything down

Understanding Airdrop Farming Essentials

Before delving into strategies, it’s crucial to grasp the core elements of airdrop farming, which require:

  • Time: Dedication to consistent engagement.
  • Organization: Maintaining systematic tracking of activities.
  • Budget: While not mandatory, having funds can increase success rates, especially with onchain activities.
  • Airdrop eligibility criteria

Time Commitment

How much time can you commit to airdrop farming? Your available time dictates the extent you can go with your airdrop farming activities. You can invest;

  • 1–3 hours weekly: Focus on 2–4 networks and protocols.
  • 4–10 hours weekly: Expand to 7+ networks and protocols.
  • Over 10 hours weekly: Tailor your engagement level based on realistic goals.

Consistency is vital to becoming eligible for airdrops, hence you must interact with selected networks and platforms as often as possible.

Budget Allocation

Your budget influences the strategies and networks you can explore. If you have zero funds, you can focus on testnet-based airdrops. However, the possibility of qualifying for life-changing airdrops works more with airdrops where you have to use funds to engage in on-chain activities.

  • Zero to Limited budget: Start with testnets, with potential investment in mainnets for higher rewards.
  • Moderate budget (<$1,000): Prioritize generating significant transaction volumes in targeted networks.
  • Substantial budget (>$5,000): Strategize diversification between staking protocols and liquid assets for optimal returns.

Balancing staking commitments with fund management is essential for long-term success.

Wallet Management

Strategically managing your wallets impacts your airdrop potential:

  • Multiple wallets (requires more funds): Increases your exposure to specific networks for higher potential rewards.
  • Single wallet (manages limited funds): helps you concentrate resources for potentially substantial returns in selected airdrops.

Consider historical transaction activity and wallet age when selecting the appropriate wallet for farming. Most of the time, older wallets qualify for airdrops more than wallets created a few days/weeks close to the snapshot time.

Setting Realistic Goals

Determining your target ranking in networks helps refine your approach:

  • You can aim to be among the top 10% ranking for maximum airdrop eligibility.
  • Alternatively, you can target a more achievable top 35%+ ranking for broader engagement.

Balancing the number of networks and desired ranking ensures efficient resource allocation and maximizes potential returns. Sometimes having a large following or community can increase your airdrop returns, especially with referral-based airdrops.

Selecting Networks/Protocols

Identifying promising networks and protocols is crucial for success:

  • Consider established staking protocols like Cosmos and emerging networks such as Eigenlayer. You can save yourself the stress by following some people on X who share updates on new networks and protocols daily.
  • Evaluate risk levels and potential rewards when exploring different networks and protocols.

Adapting to evolving market dynamics and focusing on high-potential networks enhances your airdrop farming strategy.

Understanding Airdrop Eligibility

Various criteria determine your qualification for airdrops:

  • Transaction count and volume: How often do you engage with the network/protocol/platform? Always, aim for a significant amount of engagement to increase eligibility.
  • Monthly activity and native bridging: Some airdrops require you to bridge to other networks. The more you increase your bridging activity and utilization of network features the better your eligibility.
  • Additional factors: Consider domain ownership, wallet age, minimum balance, and community involvement (e.g Discord) for higher eligibility.

Utilize specialized tools to monitor and optimize your eligibility across networks and protocols effectively.