Notes on Cryptocurrency Airdrops and Automation

Introduction to Airdrops

• Airdrops are a method of earning free cryptocurrency by being an early adopter of new projects.
• Successful airdrop experiences can result in earnings of $10,000 or more.
• Airdrop hunting involves actively seeking projects that offer airdrops.

The Challenge of Airdrop Hunting

• Airdrop hunting requires consistent effort and time, akin to a job (active income).
• Goal: Automation of the airdrop hunting process for passive income.

Overview of the Process

• As a blockchain developer, one has access to new financial ecosystems for automating airdrop hunting.
• Airdrop Masterclass: Scheduled for November 9th, will teach how to set up an automated airdrop hunting bot.

Understanding How Airdrops Work

• Airdrops are used to launch new cryptocurrencies.
• They became popular in 2020 as a way to distribute tokens fairly.
• How airdrops operate:
  • New applications or blockchains are launched without associated cryptocurrencies.
  • Users who engage with these projects can become eligible for future airdrops.
  • A snapshot is taken of eligible users before the token launch.
  • Users claim their tokens post-launch by visiting the project’s website.

Finding Airdrop Opportunities

• Look for new projects and applications that have not yet launched a token.
• Use resources like DeFi Llama to discover potential airdrop opportunities with new apps.

Example: ZK Sync

• Layer 2 scaling solution for Ethereum.
• Users can interact with it to qualify for potential future airdrops.

Example: CandySwap

• A decentralized exchange (DEX) that may offer future airdrops.
• Users should engage with its primary features (e.g., swapping tokens, providing liquidity) to increase eligibility.

Risks Involved

• Always use cryptocurrencies that you can afford to lose when engaging in airdrop hunting.
• Transaction fees must be considered during participation in new projects.

The Need for Automation

• Manual airdrop hunting is time-consuming and not scalable.
• Automating the process can save time and allow for simultaneous engagement with multiple projects.

Automation Strategy

• Bots can connect directly to blockchains and applications, bypassing standard user interfaces.
• Benefits of automation:
  • Schedule operations (run 24/7).
  • Support multiple strategies and wallets.
  • Scale effortlessly with various airdrop opportunities.

Conclusion

• Join the Airdrop Masterclass to learn how to set up and customize the airdrop hunting bot.
• Encouragement to subscribe and engage with the content for further learning about blockchain technology.