In a constantly developing market, all projects and techniques belonging to the crypto ecosystem are increasingly being defined. Blockchain experts have created a guide on the planning and execution of airdrops as a widespread technique for the mass adoption of cryptocurrencies.
First of all, the term airdrop is a crypto asset distribution technique that the creator of a token-based network or project uses to encourage adoption by users, giving these tokens directly to individual users free of charge or nominally.
In this scenario, airdrops have been added to the traditional ways of accumulating crypto, obviously proving to be the cheapest method (often free) as well as the simplest.
In fact, to adopt and interact with cryptocurrencies, users can proceed in different ways such as buying on exchanges or in a peer-to-peer way, perhaps participating in ICOs, in mining or other activities such as selling crypto-services. They can also participate in airdrops, in this case without having to invest or buy but following the distribution methods described by the reference project, obtaining the tokens free of charge.
Blockchain Airdrops Program
The 5 principles of airdrops according to the Blockchain Airdrops Program, useful both for the participating user and for the creator of the project that distributes the tokens, serve to measure the efficiency of the airdrop, and these are:
- Direct: the tokens must be sent directly to individual recipients in possession of private keys that allow them to access and use the tokens. This means that there is a tendency to exclude those airdrops where there are key custody platforms between the user and the project.
- Targeted: towards a community, perhaps even rich in users, representing a target of individuals studied by the project that can increase the utility value of the token. In this case, the support of industry influencers or institutions that facilitate the operation is also welcome.
- Accessible: to everyone and therefore free and anonymous, as not all users are willing to pay or provide their identification to receive the tokens.
- Deterministic: these crypto asset tokens should travel on the blockchain, meaning that the airdrops must take place in a deterministic and transparent way, without any possibility of probability calculation in determining recipients but rather, totally free from any hidden alterations or manipulations.
- Functional: the ultimate purpose for which the airdrops are used is to increase decentralisation of the network and the utility of the token. Therefore, all airdrops that exist for speculative purposes are excluded, even legally.
With regard to the selection of assets, the program states that “selecting which assets to airdrop is critical. Blockchain has developed a reputation for trust, quality and innovation“.
The Blockchain Airdrops Program was drafted by the Blockchain.com team on the basis of the user’s needs, collecting all the feedback to obtain a clear understanding, assessing the technical quality of the decentralised networks in terms of code, security and transparency, but also the quality and frequency of the contributions made by the community that adopts the token.
However, from a legal point of view, serving 140 countries requires a monitoring process to ensure that the selected asset is in compliance with local regulations so that it can proceed with the airdrop.
Finally, in support of the most complete and revolutionary decentralisation, the last principle on which the asset selection program is based is the lack of guarantee that all Blockchain Airdrops are successful networks.
This is essential when you want to leave room for the real mission of technology, that is to take the risk and test radical theories, without knowing the result a priori and without a selection that is too safe and conservative.