In the ever-evolving world of cryptocurrencies, airdrops have become a popular strategy for distributing tokens to the community. Airdrops allow holders of certain cryptocurrencies to receive tokens for free, simply for meeting certain requirements. If you want to maximize your chances of earning more tokens in airdrops, it's important to understand the factors that influence your eligibility. In this article, we will explore the key aspects you should consider to rank high and increase your chances of getting valuable tokens in airdrops.
Number of transactions
The number of transactions you make on a specific blockchain can have a significant impact on your ability to qualify for airdrops. Projects often seek to reward active users who contribute to the growth and activity of the network. Therefore, making a higher number of transactions on the relevant blockchain can increase your chances of qualifying for airdrops. The number of transactions between 25, 50 and 100 transactions is usually taken into account to qualify highly and, above all, to contribute volume to our count.
Different cryptocurrency transactions. Source: Layerzero Scan.
Interaction with Smart Contracts
Interaction with smart contracts is another important factor. Many airdrops are designed to reward those who actively participate in a project's platform or ecosystem. This may include participating in DeFi (decentralized finance) through the use of smart contract-based applications. The more you interact with smart contracts on a blockchain network, the more likely you are to qualify for related airdrops. These interactions can range from exchanges between different cryptocurrencies (swaps) to contributions of liquidity to protocol pools.
Inside a hash of a transaction. Source: Layerzero Scan.
Use of cryptocurrency bridges
Cryptocurrency bridges are tools that allow the transfer of assets between different blockchains. Engaging in bridging can expand your chances of qualifying for airdrops on multiple blockchains. By actively and securely moving your assets between different blockchains, you can increase your chances of receiving tokens through airdrops on various networks. For example, the Layerzero project has different bridges that use its technology, such as Stargate, Bungee, AptosBridge and others.
Source blockchain networks available on Stargate. Source: Stargate Finance.
Provide liquidity to protocol pools
Another point to take into account to qualify highly in cryptocurrency airdrops is the action of providing liquidity to the pools of the protocol in question. A liquidity pool, also known as a “liquidity pool” in English, is a fundamental concept in the world of decentralized finance (DeFi) and cryptocurrencies. This is a way to facilitate the exchange of digital assets in a decentralized environment and without the need for intermediaries such as banks or traditional exchange houses. In this part, both the number of tokens contributed and the time that elapses since the first contribution are usually taken into account.
SyncSwap liquidity pools tab. Source: SyncSwap.
Transacted volume
The volume of transactions you make on a blockchain is also a factor to consider. Projects often seek to reward those users who contribute to the growth and liquidity of the network. Transacting with a higher value can increase your chances of qualifying for significant airdrops, where you typically need to transact more than $10.000 in volume to qualify at the top. Transactions of low amounts (for example, $10) are usually declared as sybil, that is, as if they were bots.
Transactions of more than $500 benefit the transaction volume. Source: Arbiscan.
Frequency of interaction with the protocol
The frequency with which you interact with a project's protocol is essential. Actively participating in a project's updates, voting, and events can increase your chances of being considered for airdrops. Staying up to date and participating in the community can make a difference in your eligibility. Interacting on a weekly and monthly basis is usually required.
Cryptocurrency wallet with a high interaction volume. Source: Arbiscan.
Participation in DAO governance
Some projects use decentralized governance (DAO) to make important decisions in the evolution of their platform. Participating in the governance of a DAO can be an effective way to demonstrate your commitment to the project and qualify for specific airdrops related to community decision-making. We can usually find these governance proposals on the Snapshot.org page, where most cryptocurrency protocols have their voting system hosted.
Stargate DAO homepage. Source: Snapshot.org.