What Is An Airdrop Farmer?
An airdrop farmer (aka airdrop hunter) is someone who actively hunts crypto airdrops to potentially score free tokens. The process involves researching blockchain projects that might launch a token in the future and then doing activities on-chain in the hopes of meeting the requirements for a future airdrop. Airdrop farming involves tasks like:
Imagine Investing $25 to Earn $1,000
Airdrop farming attracts people because you can earn thousands of dollars with very little investment. With just a few bucks spent on gas fees and transaction fees, you could have received airdrops like Arbitrum ($1k-$20k), Optimism ($1k-$30k), or dYdX ($3k-$135k), to name a few.
For example, anyone who traded at least $1 on the decentralized exchange dYdX, qualified for a $4,300 airdrop! Users with significantly higher trading volume earned over $100,000! Not all airdrops earn that much. Some only earn hundreds of dollars while other are worth nothing at all. However, the risk to reward is quite good.
Other users take it to the next level, farming with dozens or hundreds of wallets. In this CoinTelegraph article, one airdrop farmer received nearly $2,000,000 through 866 wallet addresses.
Step 1: How Do You Find Airdrop Opportunities?
It starts with researching tokenless projects that are rumoured or confirmed to have an airdrop. You can follow content creators, find curated airdrop lists, and join airdrop communities. Then more importantly, you have to identify which airdrops are most likely to happen and have the highest rewards. You can consider criteria like:
Step 2: How Do You Qualify for Airdrops?
Blockchain projects use airdrops to reward their earliest, most engaged users. Therefore, farming typically requires using the network or dapp as much as possible. This can include doing activities like swapping tokens on DEXs, trading NFTs, and bridging funds.
Based on past airdrops like Arbitrum, Optimism, and many others, the most common criteria includes your total number of transactions, transactions over time, total volume, and being an early user. Generally speaking, the more you use a project, the more you earn.
Top Airdrops Right Now
Some of the top crypto airdrops right now include zkSync, Base, and MetaMask. These projects are likely to launch tokens and early users could qualify for a potential airdrop. There are many other opportunities as well which you can can find in my list of top upcoming airdrops and my list of airdrop guides here.
What's The Downside?
While airdrop farming doesn't require much capital, it still has its own set of risks which you need to be careful of.
Learn The Airdrop Game
Looking for your next steps?
If you're serious about airdrop farming, you can grab my Airdrop Playbook to learn the airdrop game in-depth. I unpack all the strategies and tactics to successfully hunt airdrops. Plus, it comes with an ultimate checklist for my top 20 airdrop opportunities.