An airdrop is a marketing strategy used in the cryptocurrency industry where a project gives away free tokens to a select group of people or to a large number of individuals, usually through a wallet or exchange. The main objective of airdrops is to create buzz, incentivize people to hold and use the cryptocurrency, increase adoption and spread awareness about the project.
Examples of Airdrops:
- EOS – In 2018, the EOS project conducted a large-scale airdrop of its tokens to Ethereum holders.
- Stellar – Stellar conducted an airdrop of its cryptocurrency XLM to users who signed up for its Keybase app.
- Binance – Binance, a popular cryptocurrency exchange, has conducted several airdrops of new tokens as part of its launchpad program.
- Celer Network – Celer Network airdropped its CELR tokens to users who participated in its token sale or held a certain amount of Ethereum in their wallets.
It’s important to note that airdrops can also be scams, and participants should do their due diligence and research the project before participating in any airdrop.
