Crypto Academy Season -3 Week 3 - Homework Post for @wahyunahrul

cindylove1 (53)in SteemitCryptoAcademy • 3 years ago

An airdrop, within, the cryptocurrency business, is a advertising and marketing stunt that includes sending cash or tokens to pockets addresses so as to sell attention of a brand new digital foreign money.

Small quantities of the brand new digital foreign money are despatched to the wallets of lively individuals of the blockchain network without spending a dime or in go back for a small service, inclusive of retweeting a publish despatched through the business enterprise issuing the foreign money.

The airdrop is a promotional hobby generally done through blockchain-primarily based totally startups to assist bootstrap a digital foreign money mission. Its purpose is to unfold focus approximately the cryptocurrency task and to get greater human beings buying and selling in it while it lists on an alternate as an preliminary coin offering (ICO).

Airdrops are typically promoted at the company's website, in addition to on cryptocurrency forums, and the cash or tokens are despatched most effective to modern holders of crypto wallets, generally the ones of bitcoin or ethereum.

Airdrops can be a one time event, wherein fascinated customers may also trade touch facts free of charge tokens in the course of new crypto venture advertising and marketing campaigns. On the opposite hand, airdrops might also additionally come thru a faucet, wherein humans get small quantities of crypto for an extended period. Some wallets and crypto promotions webweb sites provide this kind of Airdrop.

How can we know about a legit Airdrop event so that we can participate?

1. Get to realize the Project

The first component you ought to recognize earlier than you make a decision to take part in an Airdrop occasion is to first become aware of the challenge from the Airdrop token. You need to understand earlier what the cause of the token advent is and the way the cryptocurrency builders who're organizing this Airdrop will use the tokens they created. Will the token be beneficial or will it simply be a sh*t coin like maximum cryptocurrencies today.

2. Learn Airdrop Developer Track Record

Every token that Airdrops need to have a improvement crew and proprietor. Therefore, you may see the song report of the group and proprietor of the Airdrop task. Does he have sufficient enjoy withinside the cryptocurrency world? Is he constant with the tasks he holds? or perhaps even he had carried out a fraud that harmed many people.

You must discover all of this via way of means of doing in-intensity studies so you can accept as true with the Airdrop tokens that you may take part in.

3. Read All Rules

It isn't anyt any much less critical to examine and recognize all of the rules asked with the aid of using the Airdrop organizer. From this you may get a whole lot of very critical information, you may regulate the Airdrop you need to get hold of with the quantity of capital you have, then you could additionally see if this Airdrop absolutely offers presents to its contributors or is only a fraudulent occasion to lie to many people.

To become aware of fraud in Airdrop, I will give an explanation for withinside the subsequent discussion.

Various Means To Get Airdrops.

In order to get an Airdrop, there are numerous methods that we will do and all of it relies upon at the organizer of the Airdrop. There are some extraordinary styles of airdrops with every requiring a unique set of movements or compliance to a fixed of requirements.

The classes of airdrops used frequently include:

Standard airdrop:

Standard Airdrops generally simply calls for you to join updates or newsletters at the project’s internet site. You could best want to check in your call and electronic mail address.

Bounty Airdrop:

Bounty airdrops require you to carry out a few shape of social motion consisting of tweeting out a hyperlink of the project’s internet site or referring different customers to take part withinside the airdrop. You might be rewarded with the cash for every movement which you whole successfully.

Holder Airdrop:

This form of airdrop require you to personal a selected coin this is saved to your cryptocurrency wallet, which includes Ethereum (ETH) or Bitcoin (BTC) . You will get hold of the airdropped cash in line with the ratio set through the project.

For instance, a 1:five BTC ratio entitles you to five airdropped cash for each unmarried BTC you’re holding.

Exclusive Airdrops:

Exclusive airdrops are typically controlled and hosted via way of means of web sites and social media bills with big followings. Websites like Airdrop.io lets in you to take part in one of a kind airdrops in case you join up to their newsletter.

Are all Airdrop events free from scams?

This is a straight up NO. Unfortunately, many had been scammed or duped in terms of the airdropping process. Here is an incredible infographic depicting a few fine practices to comply with to shield your self while taking part in airdrops:

(1). Don't share your private information.

(2). Do not give away your private information.

(3). Use a secondary information if necessary.

(4). Never share your private key to anyone.

(5). No one needs your private key because Airdrops are free.

(6). Do your own home works and reviews if they exist.

(7). Make researches on the airdrop before participating in such an airdrop.

(8). Don't click on malicious links.

(9). Always ensure that you are on top of the official source of the Airdrops and beware of malicious and suspicious links.

Warn or make it known to others if it doesn't go as expected. Share/tell others about your experiences with the crypto-currency.

Actually, I never participated in any sort of before but have only heard of it. I have airdrops or airdrop events to be earned free for the creation of awareness of a new coin or token.

Example of a passed and successful airdrop.

Uniswap (UNI) Airdrop

As of 2020, Uniswap, the world’s famous decentralized exchange (DEX), airdropped its local asset, UNI, to all wallets that had used its platform and executed at the least one transaction previous to Sept. 1st, 2020.

An eligible account acquired four hundred units of the bottom asset. During the event, maximum recipients fast dumped their airdropped token, and UNI modified arms at $2-$4. For those who hung on for expensive life have been richly rewarded for his or her persistence and loyalty because the alternate token’s price soared with others withinside

Example of a Fraud Airdrop.

OmiseGo Scam

The OmiseGo rip-off is certainly considered one among the largest airdrop scams in history. The organization had deliberate to airdrop its token (OMG) in September 2017 however for a few reasons, postponed it. The airdrop marketing campaign changed into already famous on Twitter, Telegram and crypto boards and scammers took benefit of its reputation to create faux twitter handles and webweb sites for the motive of tricking unsuspecting customers into filing their personal keys.

This turned into observed after approximately three hundred ethers valued at $56,781 had already been stolen from bad participants.

The above screenshot on the 14th of July is a list of examples of ongoing/upcoming airdrops.

According to the given screenshot I presume that the KOM (Kommunitas) project airdrop is good.

Analysis :

Given the number of winners, total amount of Airdrops and start time; we can obviously see that the KOM airdrop is seen to be more efficient that the rest, with a total number of 2000 number of winners with a total amount of three million KOM within a short period of time.

Although, the Nextype(NT) airdrop also have same number of winners, but a difference of 2,600,000 airdrops with the KOM airdrops.