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Generalized Airdrop Strategies

Maximize your eligibility for airdrops you don't even know exist!
Jack Inabinet Jack Inabinet Mar 6, 20232 min read

Learn tactics to maximize your eligibility for a wide variety of airdrops.

We've compiled our highest conviction generalized airdrop farming strategies and provided the rationale behind each approach, pulling examples from past airdrops to do so!

In this guide, we cover:

1) Holding Project NFTs
2) Holding Collective NFTs
3) Donating to Public Goods Funding
4) Being a User
5) Running a Validator

Keep an eye out for more strategies to be listed soon™️!

Last updated April 6th, 2022

Hold Project NFTs

Rationale: Occasionally, projects elect to launch NFTs prior to token issuance. Such was the case with Uniswap's Unisocks and the SudoSwap-adjacent 0xmon NFT project.

Holders of these iconic NFTs were rewarded with tokens come airdrop time.

Maximizing token allocations for fervent supporters is a goal of any protocol. Owning illiquid, niche NFTs displays alignment with and support for the issuing project. HODLers differentiate themselves from average community participants, making financial statements of support prior to the initial launch of a token.

We recommend this strategy for any pre-token project that has issued and NFT.

Starter guides:

Hold Collective NFTs

Rationale: Bootstrapping a project is difficult! Nacent protocol must compete for users and liquidity. For protocols with tokens, this is often done via token incentives, leading to fleeting increases in users and TVL, which evaporate when incentives dry up.

Collectives  help bridge this gap for protocols while providing insane benefits for their members! Examples include Honeycomb NFTs by the Honey Jar, which may provide HODLers with exposure to and benefits from a variety of dApps deploying to Berachain.

Starter guides:

Donating to Public Goods Funding

Rationale: Optimism's OP airdrop set the precedent for retroactively rewarding users funding public goods by rewarding donors to Gitcoin on Ethereum!

Not only did these donors displayed their commitment to the health of the Ethereum ecosystem, but they are aligned with the goals of Optimism, which implemented its own public goods funding program. Users who are aligned a project's morals have a higher likelihood of participating in the ecosystem and are less likely to dump the token.

We recommend this strategy for protocols that have displayed alignment with Ethereum values. This includes protocols committed to aggressively pursuing decentralization, open-sourcing their code, and supporting the health of the broader Ethereum ecosystem.

Starter guides:

Being a User

Rationale: Since time immemorial (a.k.a. the UNI airdrop), every airdrop that we are aware of has had an allocation to the community: it's what makes an airdrop... an airdrop!

Early users provide massive amounts of value to the protocols they use, often developing unique use cases for primitives and providing valuable feedback to core teams. Devs want to reward the users that have helped their protocols succeed. Communities contribute value to the protocols they use and are rewarded via tokens.

We recommend this strategy for any protocol; if you're expecting an airdrop, you had better be a user!

Running a Validator

Rationale: Airdrop distributions are becoming increasingly targeted, with teams looking to reward likely holders and protocol users.

Running a validator not only helps to secure the Ethereum network, but may make you eligible for an airdrop or two! Ethereum validators have displayed a long term commitment to the health of the Ethereum ecosystem, and have sacrificed near-term liquidity to do so! This group of Etherians are certainly HODLers and protocol users; running a validator gives you the opportunity to position yourself for future airdrops.

We feel is an especially effective strategy for qualifying for potential LSD and L2 airdrops!

Starter guides:

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Jack Inabinet

Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business and remains based out of the Seattle area.

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