Airdrop Galore SZN as dYdX and Avalanche send out billions in presents
- DYDX airdrops over $1bn to past users as the latest airdrop is worth up to $100,000.
- Avalanche Bridge users receive up to $3,000 in Good Bridging Airdrop.
- Teams unlock airdrop rewards to incentivise participation and early adoption.
- Airdrops resemble special dividends with payout being quite lucrative.
Recent airdrops have been worth billions of dollars and continue to be a driving force in DeFi. Notably, this past week, margin-trading protocol, dYdX, unlocked over $1bn in airdrop rewards for past users. The lowest reward tier required the user to deposit funds with at least 1 executed trade on the platform. The lowest level of network involvement still resulted in an airdrop reward of 310.75 dYdX tokens, or ~$3,700 as of 8 September. The highest reward tier requires at least $1m in trade volume. Whereas, with at least $100,000 traded on the platform, one is able to claim 9,529 dYdX tokens or ~$114,000.
In other news, users of the Avalanche bridge received up to $3000 in Good Bridging Airdrop. The Avalanche Bridge is a recent innovation that allows users to transfer ERC20 tokens from the Ethereum network to the Avalanche network. This enables cross-collaboration, as capital flows between the two ecosystems, and serves to increase network adoption.
If you did use the Avalanche Bridge, check all Avalanche wallets used for $GB tokens. Metamask users can see if they received Good Bridging tokens by switching to the avalanche chain and adding the official $GB token address provided by the team. If you did use the Avalanche bridge before the airdrop date, then you should find 913 Good Bridging tokens in your Avalanche wallet or up to $3000 as of 12 September.
Good Bridging ($GB)— Good Bridging Token (@GoodBridging) September 10, 2021
Total Supply: 14,327,880
Token Contract Address: 0x90842eb834cFD2A1DB0b1512B254a18E4D396215
It is difficult to remember a time when a company paid me so handsomely for being a customer. From the traditional finance point of view, token airdrops resemble special dividends in equities. Special dividends in equities are often in the form of a cash distribution to shareholders following a special situation like M&A or divestiture. Special dividends are often a one-time event, similar to how airdrops are coded to execute based on a specific outcome (i.e Deposit XYZ token if wallet used the Avalanche Bridge by stated date). However, airdrops are more dynamic, as participation in one protocol may result in numerous future airdrops. The data shows it really does pay to experiment in crypto.
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