Ever dreamt of getting free crypto? Well, crypto airdrops make that dream a reality! 🎉 Think of it as receiving free samples, but in the digital currency world. Between 2020 and 2023, some truly massive airdrops rained down on crypto users, and if you weren’t paying attention, you might have missed out on some serious gains. But don’t worry, we’re here to take you on a journey through the top 10 crypto airdrops from this period, highlighting the ones you definitely shouldn’t have missed!
But first, for the uninitiated, let’s quickly understand what a crypto airdrop actually is.
What Exactly is a Crypto Airdrop? 🤔
In the bustling world of cryptocurrency, standing out is key. Crypto airdrops are essentially a clever marketing tactic used by blockchain projects to gain attention and distribute their tokens. Imagine a new project launching and wanting to get their token into the hands of as many people as possible. Instead of just selling them, they ‘airdrop’ tokens for free to existing or potential users. It’s a win-win!
Why do they do this?
- Boost Awareness: Airdrops create buzz and get people talking about a project.
- Wider Token Distribution: It helps distribute tokens more broadly, rather than concentrating them in a few hands.
- Reward Early Supporters: Often, airdrops reward early adopters or active community members.
- Decentralization: Wider token distribution can contribute to a more decentralized network.
Now that you know the ‘why,’ let’s dive into the ‘what’ – the top 10 crypto airdrops from 2020 to 2023 that made waves in the crypto space:
1. Uniswap ($UNI) – The Airdrop That Reignited the Spark 🔥
Estimated Value: $6.43 Billion
Date: September 2020
Uniswap takes the crown for the biggest airdrop of our timeline! This Decentralized Exchange (DEX) powerhouse distributed a whopping $6.43 billion worth of $UNI tokens back in September 2020. It was a landmark event, often credited with revitalizing the concept of airdrops which first appeared way back in 2014.
Who Benefited? Users who had interacted with the Uniswap DEX prior to a specific date. Each eligible user received 400 UNI tokens. At the time, these tokens were valued between $2 and $4 each.
The Impact: Imagine getting free tokens that then surge in value! $UNI hit an all-time high of $44.92 in May 2021, turning that initial airdrop into a potentially life-changing sum for many recipients. This airdrop truly set a new standard.
See Also: Ripple XRP Plunged After Whales Send 47M Tokens to Exchanges
2. ApeCoin ($APE) – Rewarding the NFT Royalty 👑
Estimated Value: $3.54 Billion
Date: March 2022
Coming in second is ApeCoin, associated with the wildly popular Bored Ape Yacht Club NFTs. ApeCoin DAO airdropped approximately $3.54 billion worth of $APE tokens in March 2022.
Who Benefited? Owners of Yuga Labs’ NFTs, including Bored Ape Yacht Club and Mutant Ape Yacht Club holders, were handsomely rewarded. Some NFT holders received a staggering 10,950 APE tokens, valued at around $258,737 at the time!
The Impact: This airdrop highlighted the growing intersection of NFTs and tokens, rewarding NFT holders and further fueling the ApeCoin ecosystem.
3. dYdX ($DYDX) – Decentralized Derivatives Get Rewarded 💰
Estimated Value: $2 Billion
Date: September 2021
dYdX, a leading decentralized derivatives exchange, takes the third spot. They distributed around $2 billion worth of $DYDX tokens in September 2021, valued at $26.80 per token at the time of distribution.
Who Benefited? Users of the dYdX platform based on their trading activity. This airdrop incentivized platform usage and rewarded active traders.
The Catch: The $DYDX tokens came with a vesting schedule, meaning the full value couldn’t be accessed immediately. Tokens were gradually unlocked over five years, a common strategy to ensure long-term commitment to the platform.
4. Arbitrum ($ARB) – Layer-2 Scaling Solutions Steal the Show 🚀
Estimated Value: $1.97 Billion
Date: March 2023
Arbitrum, a Layer-2 scaling solution for Ethereum, made headlines in 2023 with a massive $1.97 billion ARB token airdrop in March. Valued at $1.69 per token at the time, it was considered the biggest airdrop of 2023.
Who Benefited? Users who had interacted with the Arbitrum network, including those who used bridges, deployed smart contracts, or conducted transactions on the platform. It even overshadowed its competitor, Optimism (OP), whose airdrop was significantly smaller at $0.67 billion.
The Impact: The Arbitrum airdrop showcased the growing importance of Layer-2 solutions in scaling Ethereum and rewarded early adopters of the technology.
5. Ethereum Name Service ($ENS) – Naming Rights on the Blockchain 🌐
Estimated Value: $1.879 Billion
Date: November 2021
The Ethereum Name Service (ENS), providing human-readable names for crypto addresses, distributed approximately $1.879 billion worth of $ENS tokens in November 2021. Tokens were valued at around $85 at the time of the airdrop.
Who Benefited? Users who had registered .eth domain names before a certain cutoff date. Dune Analytics reported that around 137,689 addresses were eligible, but only 62,634 claimed their tokens, representing about 49.72% of the available supply.
The Takeaway: This airdrop rewarded users who were early adopters of the ENS system, recognizing the value of decentralized naming services.
6. Internet Computer Protocol ($ICP) – A New Vision for the Internet 💻
Estimated Value: $1.737 Billion
Date: May 2021
Internet Computer Protocol (ICP), aiming to build a decentralized internet, airdropped around $1.737 billion worth of tokens in May 2021.
Who Benefited? A significant number of participants, approximately 50,000, each received around 2,513 ICP tokens. Furthermore, about 10.50% of the total token supply (49,268,690 tokens) was allocated to node operators on the network.
The Goal: The ICP airdrop was designed to bootstrap the network and incentivize participation in its novel approach to decentralized computing.
7. Bonk ($BONK) – The Solana Savior? 🐶
Estimated Value: $1.325 Billion
Date: Late 2022
Bonk, a meme coin on the Solana network, unexpectedly surged into the top airdrops list, distributing around $1.325 billion worth of tokens. Launched in late 2022, $BONK experienced a meteoric rise, reaching an all-time high of $0.000025 in December 2023.
Who Benefited? Initially, the airdrop targeted the Solana community, aiming to revitalize the network after a challenging 2022. It was widely distributed to Solana NFT holders and active community members.
The Narrative: $BONK is often credited with playing a crucial role in Solana’s recovery from its 2022 lows, injecting much-needed enthusiasm and activity back into the ecosystem.
8. Celestia ($TIA) – Modular Blockchain Magic ✨
Estimated Value: $728 Million
Date: October 31, 2023
Celestia (TIA), a project focused on modular blockchains, conducted a notable airdrop in October 2023, distributing around $728 million worth of TIA tokens. The highest token price at the time was $13.99.
Who Benefited? Celestia took a different approach, targeting specific groups: developers and researchers contributing to public goods and protocol infrastructure, active users of Ethereum rollups, and stakers and IBC relayers associated with Cosmos Hub and Osmosis.
The Strategy: This airdrop was less about broad distribution and more about rewarding key contributors and users within specific ecosystems relevant to Celestia’s technology.
See Also: Binance To Remove BTC, ETH, ADA, DOGE, SHIB, And XRP Liquidity Pools
9. LooksRare ($LOOKS) – Challenging the NFT Marketplace Giant ⚔️
Estimated Value: $712 Million
Date: 2022
LooksRare, an NFT marketplace aiming to compete with OpenSea, distributed around $712 million worth of $LOOKS tokens in 2022.
Who Benefited? Users who had traded at least 3 ETH on OpenSea between June 16th, 2021, and December 16th, 2021, were eligible to claim up to 10,000 LOOKS tokens. This was a direct move to attract users from the leading platform.
The Motivation: The LooksRare airdrop was a strategic ‘vampire attack,’ designed to incentivize users to switch from OpenSea to their platform by rewarding past activity on the competitor.
10. 1inch Network ($1INCH) – Aggregating DeFi for Everyone 🧮
Estimated Value: $671 Million
Date: December 2020 & onwards
1inch Network, a decentralized exchange aggregator, distributed around $671 million worth of $1INCH tokens starting in December 2020 and continued with further distributions. They also airdropped an additional pool of 15,055,000 1INCH tokens to users of Mooniswap, Uniswap, Gnosis, and Argent.
Who Benefited? Users who had interacted with the 1inch Network platform or used specific DeFi platforms like Uniswap and Mooniswap.
The Strategy: 1inch conducted multiple airdrops, rewarding early users and expanding their reach across the DeFi landscape.
Did You Get Lucky? 🤔
Looking back at these massive airdrops, it’s natural to wonder – did you participate in any of these? And perhaps more importantly, which ones did you miss out on? The crypto world is full of opportunities, and airdrops are definitely one of the more exciting ways to potentially earn some crypto. Keep your eyes peeled for future airdrops, and who knows, you might just catch the next big wave!
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.