Here are some tips to keep in mind when conducting airdrops:
Why is now a good time to consider airdrops.
What are the different ways to conduct airdrops
Practical Tips
With Aptos case study
WHY IS NOW A GOOD TIME TO CONSIDER AIRDROPS?
Due to a drop in the number of players in the market, there are now opportunities for those of us still in the game. With significantly fewer users than during the uptrend, projects will have to airdrop more tokens to attract users to their platform.
Gas fees on various chains are currently very cheap. Transaction fees on networks such as Optimism or Arbitrum are currently below $0.1 per order.
Despite the current downtrend, projects are still being built, which bodes well for their future prospects.
WHAT ARE THE DIFFERENT WAYS TO CONDUCT AIRDROPS?
1. Retroactive
In this method, you directly experience the project on its own platform.
You may not have to pay a fee if it's on a devnet or testnet, such as Sui Network, Sei, Quai, etc.
You may have to pay a fee if it's on the mainnet, such as Optimism, Arbitrum.
2. Bounty Airdrop
This method requires you to complete tasks to interact with the project's social media channels to be eligible to participate, such as Telegram, Twitter, Facebook, etc.
=> This method is easy to participate in, so it may be more difficult to win, and even if you do win, the rewards may be less valuable.
Practical Tips
I. Creating an Account
Utilize Chrome's Profile feature to create a combo account with the same email and a new wallet address (make sure to save the private key). If Twitter or Discord requires a phone number, you can borrow one from a relative or friend.
Use a VPN to fake your IP and create another combo account on the second profile to avoid project scanning by IP. Not all projects require this, but it's better to be safe than sorry.
Creating the same combo with the same email makes it easier for you to manage.
II. Project Experience
The project is currently in Devnet & Testnet, for example, Sui Network: you can work without any fees and real capital, and you should work regularly every day, not just for 1 - 2 days and then forget about it.
Projects that have already launched on Mainnet are Arbitrum & Optimism.
For this form, you may need some money to pay for gas fees.
When working, take specific notes of each transaction you make, especially for DeFi projects that require you to swap, add liquidity, stake, etc. between tokens. There may be additional conditions on the minimum time before you can unstake or withdraw liquidity.
Check whether the links are official from the projects or not. This step is extremely important; if you make a mistake, you will lose money while having a bad memory.
Read the project requirements carefully, and go above and beyond what is required. For example, if the requirement is to swap $20, swap $22. If the requirement is to save the order for 24 hours, save it for more than 24 hours.
III. What to Do If You Win
Usually, the project will announce the airdrop winners via email. At this point, creating the same combo email will help you find out which wallet you won faster. Time is extremely important because when the token is just listed on the exchange, the price will fluctuate very strongly.
With Aptos Case Study
Aptos has announced the winners of their airdrop via email. To claim the tokens, you'll need to transfer them to your wallet using a small amount of APT faucet to cover the claim fee (not directly to your wallet). If you're new to this process, it may take some time before you figure out how to claim the tokens successfully.
It's important to claim the tokens as quickly as possible to lock in the best price. Some individuals have been able to secure 150 Aptos at prices ranging from $3,000 - $7,500 because they were able to act fast and had the necessary information. Those who move slower are only able to lock in prices around $1,000 - $1,500.
In the past, there have been large-scale airdrop projects for early adopters, such as Uniswap, 1INCH, Paraswap (over 10,000 $/wallet), Optimism (1000 $/wallet), and most recently Airdrop hashflow (mint NFT for free but sold it for 0.2 ETH, which I didn't have time to do). Participating in airdrops can help you change your position and learn more about how the market functions.
When participating in airdrops, it's advisable to use more than one account (wallet). The number of accounts required varies depending on the project, your health, your ability to work hard, and the amount of USD you have at your disposal.
Sometimes, it may take 6 months to a year to see the results of an airdrop, or there may not be an airdrop at all. This was my experience with the Unstoppable Domain project last year, where I spent hundreds of dollars on domain names and had no idea what the outcome would be.
Currently, there are some airdrops that are worth considering, such as Optimism NFT Quest, Arbitrum 4 Quest, Sui Network, Sei, Layer Zero, Starknet, Pontem, and more.
To learn how to participate in retroactive airdrops, you can search for tutorials on Google or Youtube.
In my opinion, Optimism NFT Quest is an airdrop with a high chance of winning. It requires participants to complete 18 tasks, which range in cost from a few dollars to $2000, but no money is lost if you don't complete all of them. Such high requirements present both a challenge and an opportunity for us. This airdrop will be quite selective in terms of participants, filtering out many opponents.