Is it Crypto Airdrop Season?
By Brett Elvines
What is an airdrop?
Airdrops are a marketing strategy and cost for projects to acquire new users for their platform, product or service. Users who interact with any of these are often rewarded with an airdrop when a token is released to the market. The main idea is to send newly minted tokens to hundreds or thousands of different wallet addresses with the hope recipients will be more inclined to engage with the corresponding project.
The primary reason for organizing a crypto airdrop is to promote a blockchain startup, project or service. By issuing tokens to users, the team can bootstrap its project and ensure a fair distribution of tokens among its community from day one. Moreover, recipients of these tokens are incentivized to increase awareness and help the project reach a broader audience once the token begins trading on an exchange. The more interest surrounding the token, the more likely it will rise in price.
Are Airdrops worth the time?
To determine whether it is worth investing the time to obtain these airdrops, we will cover several historical airdrops in the last two years.
- Uniswap - This was the first Automatic Market Maker (AMM) in the decentralized exchange space and came about in 2020. If you made a swap or provided liquidity prior to a certain date you received 400 Uni Tokens. Current value is $2400 USD. At its peak value the airdrop was worth approx $18,000 USD.
- 1inch - Similar to Uniswap but is an aggregator that brings in prices from multiple AMMs and gives the user the best prices. If you made any swaps or provided liquidity you received a varying amount of tokens depending on how much you used the network. We received $1000USD worth when we sold. If we sold at the top it would have been worth $2200USD
- Aptos - This is a more recent one. Aptos is a layer one blockchain implementing a new coding language aiming to be faster and more secure than Solana. You qualified if you used testnet (where they test before going live) before the mainnet launch. This airdrop ranged from $1500-$7000USD per wallet. Some people did this on multiple wallets. I have heard of people getting close to $50k.
The examples outlined show that it is very lucrative to take the time to get involved in major airdrops. We have missed these, however there are some big airdrops coming up. This article is going to cover three that we at Slvge Labs are getting prepared for.
This project is going to airdrop their $Pixel and $Berry tokens to the top 20,000 wallets on the 31st of October 2022. We are going to run you through how to increase your chances of qualifying your wallet.
What is Pixels?
Pixels is an open ended farming and exploration game. You meet people, do quests and farm. Sound limited? That’s ok because they have much more in the works. It is a bear market, but not to worry as Pixels raised $2.4 million in funding from Animoca Brands to build out the game.
They are planning a huge airdrop at the end of the month. It is not too late to qualify. They have 400,000 users but we believe you can get to the top 20,000 by following the strategy we will cover. We confess that we only came for the airdrop, but will stick around because we like the game.
Join with this link and support us on our mission
The ultimate goal is to collect badges, each badge has a different quest or requirement. Check out the badges below.
• Click on Premint badge
• Connect your Twitter
• Connect your Discord
• RT + Like this tweet - https://twitter.com/pixels_online/status/1565051588065931264…
• Join their discord and verify yourself: http://discord.gg/pixels
After 10 minutes you will get 3 badges and +1500 points
• Click on Barney badge and click play the game
• If you don't spawn on Barney's farm, check the picture below to access it
• Check this video that explains how to complete the quest - https://youtube.com/watch?v=3jfsiq9fvEk…
+1 badge / +500 points
• Click on Troubled Past Quest badge
• Go play the game and follow this youtube video who explains how to complete the quest - https://youtube.com/watch?v=CJmvRFqMiwA…
• If you don't know where the store is, check the picture below
+1 badge / +500 points
• Click on Mazerunner badge and go play the game
• You'll have 2 mazes to complete
• To navigate the mazes click this video - https://www.youtube.com/watch?v=z1mWLvG3dls
• To get the next badges you will need to farm, I have prepared a tutorial for you
• Take a look at this video to understand what you need to do - https://youtube.com/watch?v=y4F7BcoMOJ4…
• Basically, you need to remember this:
- Only farm in 0% tax farms
- Eat the food you harvest to gain energy
- Harvest before 24h or everything will die
• The quickest way to level up is to complete this loop
- Plant on all empty farms
- Wait for it to grow
- Harvest everything, eat to refill your energy as you go, until it's all harvested
- Use the seeds to replant on all harvested spots
• Go through each link one by one until you reach the last one, then start again
2. Layer Zero
What is Layer Zero
It is an omnichain interoperability protocol that enables the realization of cross-chain applications with a low level communication primitive. In simple words, it is a new dimension of crypto bridging with the goal to connect all EVM chains and unify liquidity pools.
Will it be a big airdrop?
Stargate Finance recently raised a whopping $135 Million Fund led by Sequoia Capital, FTX Ventures, Andreessen Horowitz, Coinbase Ventures, PayPal Ventures, Tiger Global, Uniswap Labs and other investors. So they have enough funding to make it one of the biggest airdrops ever! Also, this is the first ever web3 project that is invested by PayPal.
How to qualify for $5?
There are only a few platforms that are currently live on Layer Zero. Some of them are free (testnet) and some will cost some money. Since the goal is to get it done under $5, I will share the method first. But will also cover some other ways that may even increase the chance of getting the airdrop.
The first method that will cost around $5:
- Be a DAO voter of Stargate Finance
- Stargate Finance is the first Layer Zero protocol that is live and ready to use. So as a DAO Voter of Stargate Finance, we can potentially qualify for the Layer Zero airdrop.
How to be a DAO Voter on Stargate Finance:
• Buy $1 worth STG (Stargate Finance token) on Uniswap or any platform (Mainnet)
• Now go to Stargate Finance Staking Tab : https://stargate.finance/stake
• Stake your token
• Once you stake the token, you get the voting power.
• Now keep voting on Stargate Finance Governance Proposals regularly - https://snapshot.org/#/stgdao.eth
• By doing this, you’re now a DAO Voter of Stargate Finance, which can potentially qualify you for the Layer Zero airdrop!
Apart from these you can use the below protocols as well, which are currently on testnet. So you can use these for free. However, I would suggest you to use them on mainnet as well (when live).
USDC Layer Zero Bridge:
It is a bridge on Layer Zero using which we can send USDC between EVM chains.
Liquid Swap Bridge:
It is a bridge on Layer Zero using which we can send tokens between Ethereum and Aptos.
What is arbitrum?
The Arbitrum network is a layer-2 functionality, developed by the New York-based company Offchain Labs, which seeks to solve the congestion that the Ethereum network has been experiencing by improving how smart contracts are validated.
The platform leverages the security provided by the Ethereum mainnet but allows smart contracts to run on a separate layer to reduce congestion within the network.
This technique is called ‘transaction rollups’ and consists of batches of transactions and records that are validated on the lower layer to then be moved to layer-1’s mainnet – in this case, the Ethereum mainnet.
Is there value in Arbitrum?
There does seem to be demand for layer-2 tokens, however. OP has a market capitalization of $180m, as of 25 October, ranking it 175th out of all cryptocurrencies. Optimism had a peak value over $2 and users were able to make $2000USD or more. Why are we so optimistic on Arbitrum. The simple answer is adoption. When you dive into the stats it is clear that Arbitrum is getting more use than Optimism. Arbitrums peak value in the network is 2.5x higher than Optimism and that is without the release of the token.
How to qualify?
1. Bridge to/from Arbitrum.
Use http://bridge.arbitrum.io to bridge assets from other EVM chains to the Arbitrum network. You can do this with any amount (however generally the more the better).
2. Interact with Arbitrum dAPPS.
Arbitrum is home to 127 dAPPS. However, I would focus on Arbitrum-focused applications first. These include:
Here are a few examples of what I mean by “interacting”:
•On GMX: Open a trade, deposit GLP.
•On Dopex: Deposit veDPX, deposit into a straddle vault.
•On Uniswap: Provide liquidity, swap assets.
4. Purchase a NFT
Purchase a week 1 Odyssey NFT so you can participate (they’re only $10). https://opensea.io/collection/arbitrum-odyssey-nft
5. Complete Tasks
Furthermore, you can earn special roles in the server by completing small tasks: https://guild.xyz/arbitrum. These tasks are easy to complete and may count towards the airdrop, so are definitely worth completing.
That is our airdrop guide. We hope you found it helpful and it assists you in this current market. Fore more content follow us on:
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- Website: slvgelabs.io