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What's a token airdrop?

Published on Aug 10, 2023Updated on Aug 25, 20242 min read4,338

A token airdrop is a marketing strategy employed by crypto startups such as Arbitrum and Zksync to promote their projects and new tokens, while also rewarding their early participants. It involves distributing the project's native cryptocurrency to current or potential users for free. Airdrops may have different requirements, such as the number of interactions with on-chain DApps, investment amounts, NFTs claimed, or following the project's social media accounts.

Airdrops are typically intended to promote the project by distributing tokens for free, cultivating an initial user base, expanding the project's influence, besides increasing public awareness and interest. Airdrops are usually provided for wallets that interact with the project before a certain date.

To claim an airdrop, you must've a crypto wallet. OKX Wallet is a popular non-custodial, decentralized, and multi-chain wallet that is easy to use. OKX Wallet supports over 50 networks and has OKX DEX, a multi-chain and cross-chain DEX, OKX Earn, a one-stop on-chain investment tool, OKX NFT, a multi-chain NFT aggregator, and DApp Discover. Through our Wallet, you can easily access 1,000+ DApp protocols and explore the Web3 world with just one wallet.

However, airdrops have become a target for scams due to their popularity. Before claiming an airdrop, confirm the project's legality and safety, and be wary of airdrop scams that may require you to send crypto assets to an unknown wallet to unlock free tokens, or request sensitive information such as seed phrases or private keys.

To ensure user fund safety, OKX Wallet has launched an airdrop hub. Open our Wallet homepage, select More > Web3 Giveaway, and find ongoing, upcoming, and completed airdrop projects. This helps filter out false information, locate popular airdrop projects in one place, navigate to the projects' landing page easily, and participate in the airdrop activity promptly.

Disclaimer
This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.

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